For Pawnshops, the Recession Is a Golden Egg
from BusinessWeek
 Think pawnshops, and you probably conjure up old jewelry, desperate customers, and seedy storefronts. Hardly, it would seem, the ingredients for innovation. Yet amid recession, the country's largest chain, Cash America International, is using the credit-crunch boom time to lure new customers and expand. More
Player Forced to Pawn NFL Ring During Super Bowl
from WFTS-TV
It's a sign of just had bad the economy is these days. Among the hundreds of celebrities and athletes who came to Tampa for the Super Bowl festivities last week was one NFL player who needed cash so badly, he hawked his NFL players ring. Joe Cacciatore of Capital Pawn is required by law to keep the player's identity confidential for 30 days. But he showed us the ring the player parted with in the middle of the Super Bowl party week. More
Citigroup Sues Pawnshop Over Logo
from CNN Money
You would think that Citigroup had enough on its plate these days, but that hasn't stopped the financial behemoth from filing a copyright infringement suit against a Brooklyn, New York, pawnshop over a similar logo. In the suit filed recently in Brooklyn federal court, Citigroup alleges that in using the same Citi abbreviation and red arc as its banking subsidiary, Citibank, All Citi Pawn has infringed on their trademark. Citigroup is seeking all of the business' profits since it adopted the All Citi name. More
Pawnshops Cashing In
from Reuters
Bad credit? Need money now? Just grab that electric guitar in the corner and head for a pawnshop. Cash-strapped consumers are swapping jewelry, music systems and electronic gadgets for cash like never before. "The pawn transaction is a very simple, no-questions-asked secured loan that's working very well for people," Sterne Agee analyst Henry Coffey said. More
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Gold Edges Up as Investors Look to Washington
from The Associated Press
Gold prices edged higher, while other precious metals advanced as investors looked to Washington for help on the economy. Oil prices fell, while grain prices were mixed. Gold has risen in recent weeks as other commodities stumbled on worries that spreading weakness in the economy would damp demand for natural resources. Investors often look to gold in times of economic uncertainty as the investment can hold its value better than others. More
Pawnshops Among Few Businesses that Get Busier During a Recession
from The Beaufort Gazette
Charlie Bell knows the stories of many of his customers at Port Royal Gun and Pawn in Port Royal, S.C., from the wealthy man who plunks down a gold Rolex to get $2,000 for a gambling trip to Las Vegas, to the young military wife looking for $50 to buy groceries for her children. Since the economy tightened up, Bell said he's seen plenty of new faces among the regulars who come to his store for the quick, no-nonsense loan they need to make ends meet. More
Pawnshop Clients Trending Upscale
from Tampa Bay Online
Some pawnshops around Tampa are noticing a different clientele. They still are desperate, but they come in wearing designer clothes or toting Rolexes or multicarat diamond cufflinks, or even, at one North Tampa pawnshop, a Tiffany ring signifying that the wearer won a recent Super Bowl. Secrets between a guy and his pawnbroker sometimes stay secret. More
Some Louisville Pawnshops See More People in Need of Short-term Loans
from Business First of Louisville
For people without ready access to credit, the neighborhood pawnshop functions as a bank that gives them small loans secured by personal items such as jewelry, guns or electronics. So it’s not surprising that during a recession compounded by a credit crunch, shops such as Bill’s Pawn Shop and Flea Market Inc. have no shortage of customers who want to pawn things. More
Proposed Pawnshop Draws Criticism from Neighbors
from The Las Vegas Sun
Cash America, parent company of SuperPawn, is seeking a business license from the city of Las Vegas, to relocate one of its stores to the Cheyenne Fairways Business Center. The store would offer payday loans and would accept guns without ammunition but will not sell them on site. The proposal has drawn criticism from neighbors. More
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