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Home   About   Membership   Resources   Government Affairs   Meetings & Events Dec. 28, 2010
 
 
 
As 2010 comes to a close, the National Pawnbrokers Association would like to wish its members, partners, and other industry professionals a safe and happy holiday season. As we reflect on the past year for the industry, we would like to provide the readers of the NPA Weekly NewsBrief, a look at the most accessed articles from the year. The news brief will resume publication Jan. 4, 2011.


Pawnshops flourish in hard times, drawing scrutiny
TIME magazine    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With banks reluctant to loosen purse strings and credit-card companies aggressively slashing credit lines, a growing number of consumers are turning to the once murky world of pawnshops for quick cash. "Loans are up 20 percent to 25 percent," estimates David Crume, president of the National Pawnbrokers Association. The trade group's executive director, Dana Meineke, says the weak economy and turmoil in the credit markets are expanding the customer base. "We're seeing some new faces," says Daniel Feehan, president and chief executive of Cash America International, a pawnshop company based in Fort Worth, Texas. More



'Pawn Stars' is a smash success
TransWorldNews    Share    Share on FacebookTwitterShare on LinkedinE-mail
article
VideoBrief
Hailed by viewers as a really "cool Antiques Roadshow," "Pawn Stars" is one of the most popular TV shows on the History Channel, which is part of the American Cable TV network. The show is produced by Leftfield Pictures and shot in and around the Las Vegas area. "Pawn Stars" chronicles the activities that take place inside a Gold and Silver Pawn Shop. The first episode was aired back in July 26, 2009. Each one-hour block features two episodes. This show has a loyal viewership that tunes in every week to see the latest events happening in the pawnshop. Until the 1950s, pawning was actually one of the most popular form of consumer credit in the USA.
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Former pawnshop leaves legacy in Dallas
The Daily Mustang    Share    Share on FacebookTwitterShare on LinkedinE-mail article
It's 1940. Down Elm Street, Deep Ellum residents and visitors stroll down the Dallas neighborhood sidewalk on a Saturday afternoon. Jazz music is heard from the nearby Gypsy Tea Room. The street stretching toward downtown is lined mostly with pawnshops. One shop draws more attention than most. It's Honest Joe's, the best known pawnshop in Dallas. Today, the building is still in the family. Honest Joe's granddaughter, Laurel Levin, has turned it into a luxurious pet hotel called Urban Paws, the only one of its kind in the neighborhood. It caters to a young and trendy apartment-dwelling generation, providing their pets with townhomes, suites and the latest collars. More

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San Diego brothers go new school with their pawn businesses
The San Diego Union-Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
To earn spending money as teenagers in San Diego's South Bay, Moris and Yigal Adato cleaned jewelry, swept out the bathrooms and did other odd jobs in one of the several pawnshops operated by their father and uncle near the border. … Today, the duo is championing the industry which has long held the image of seedy sellers trafficking in stolen goods in gloomy shops. Despite the country's growing number of stores (from 6,900 in 1988 to more than 11,000 in 2007 according to the National Pawnbrokers Association) and stringent regulations to prevent pawning stolen items, the brothers often still get a cold reception when they talk about their profession. That's why the Adatos are doing business new school, shaking the dust from the stereotypical broker doing business behind locked gates and bars. More

A pawnshop for the affluent
Newsweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnshops may bring to mind impoverished people dragging in grandma’s clock radio to trade for just enough money to keep the lights on. But tough economic times have started bringing in a different type of customer: the affluent. Now instead of accepting a boom box in exchange for $60 to buy gas, a new kind of pawn shop is accepting Picassos and Rolexes in order to grant emergency loans of up to $100,000. Todd Hills, 46, started the company, now called Boomerang Lending, 14 months ago, after noticing that credit had gotten so tight that even the upper middle class were having trouble getting loans. Hills knows the importance of having cash on hand. He started working at a pawnshop outside Denver when he was 22, after his family lost their farm. A few years later he opened his own shop, using his wedding gifts as the first items for sale (his new bride wasn’t angry, he says.) More



People pawn the weirdest things
FlashNews    Share    Share on FacebookTwitterShare on LinkedinE-mail article
These days, people try to pawn the strangest things for quick cash. Emma Pankhurst of U.K.-based online pawnbroker, borro.com, says a farmer recently tried to pawn his livestock in exchange for cash. Borro had to turn down the offer since live sheep and cows can’t be easily kept in their storage facilities. Bizarre items people have successfully pawned include a set of gold teeth, a platinum belly piercing bar, and a rowing singlet worn by Olympic athletes. More

Once u-pawn a time
The Record    Share    Share on FacebookTwitterShare on LinkedinE-mail article
An elderly woman walks with her head down and slowly pushes open the door to Annette's North Stockton Jewelry in Stockton, Calif. She is warmly greeted by a voice behind the counter. The woman looks around at the old accordions, black leather jackets, stuffed animals and electric signs displayed throughout the longtime Stockton pawnshop before opening her purse to show the clerk a family heirloom. When many people are scraping to make ends meet, pawnshops are being leaned upon for small, short-term loans without a credit check. More



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UNDERCOVER PAWN: Des Moines' pawnshops refuse 'stolen' items in Iowa
WHO-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
VideoBrief
Several teens were charged with ransacking homes on the South Side of Des Moines, Iowa. Police believed some of the things they stole, like laptop computers and other high end electronics, could have been pawned off. So WHO-TV wondered how tough it would be for teens equipped with a hidden camera to try to pawn off about $2,000 worth of home electronics for about $100. The good news is none of the pawnshops took the bait. The bad news is none of them called police.
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'Golden age' of pawnshops
The Roanoke Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The back room of Vinton Pawn Shop Inc. in Southwest Virginia looks like a pirate's cove, a hardware store and grandma's attic combined as one. It has shelves of fishing poles, chain saws, weed whackers, hunting rifles, guitars in cases, vaults of engagement rings and gold necklaces, a slot machine and a Rascal scooter. With 13,000 square feet of storage, there's hardly room for more stuff. Shops such as Vinton Pawn straddle the line between banking and retail — two business models that have been less than stagnant in the past year. More

Times Past
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Pawnshops: They're a barometer of troubled economic times
The Toledo Blade    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Jordon Reichenbaugh works in a store filled with other people's dreams — electric guitars, high-top shoes, personalized jewelry. It's a place where a 46-year-old woman comes to pawn her wedding ring for 20 bucks just so she can buy some gas. More

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NPA Weekly NewsBrief
Colby Horton, Vice President of Publishing, 469.420.2601   Download media kit
Yvette Craig, Sr. Content Editor, 469.420.2641   Contribute news
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