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Dividing lines form in pawnshop debate in Fort Worth, Texas
Fort Worth Star-Telegram Share    
A proposed zoning change that would allow some pawnshops to rebuild if destroyed by fire or a natural disaster has galvanized some neighborhood groups across Fort Worth, Texas, to oppose the measure. Supporters of pawnshops say that they provide jobs, tax revenue and low-cost goods and that they work with police to prevent sales of stolen property. They believe that the zoning change is only fair. More
Pawnshops may change way their records filed
Messenger-Inquirer via TMCnet
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An ordinance scheduled to be heard by leaders in Owensboro, Ky., would change the way pawnshops file their daily records with the
town’s police department. The current ordinance, which is based on Kentucky law, requires pawnshops to provide daily reports to the police department on everyone who "pledged, pawned, sold or otherwise delivered … any goods, wares, merchandise, jewelry or other thing of value" during the previous day's business. The pawnshops must also provide descriptions of the items pawned or sold.
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New pawnshop ordinance passes in Princeton, Minn.
Princeton Union-Eagle
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Any current or future pawnshops in the city of Princeton, Minn., will now be regulated because of the ordinance the city council passed. The state has a statute regulating pawnshops. But a city must first pass its own pawnshop ordinance for the state law to be applicable, according to city attorney Dick Schieffer.
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To protect consumers, who will be regulated?
The New York Times
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An unlikely new tenant in the halls of the Federal Reserve would set out sweeping rules on a wide swath of consumer transactions, possibly
making it one of the most powerful new federal agencies in a generation. The proposed agency is causing concern and confusion, however, among owners of small businesses — drug stores, jewelers, pawnbrokers and car dealers — who fear that by allowing any customers to buy on credit, their businesses could be subject to significant new regulations.
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Gold jewelry 'more
likely scrapped than mined'
Watch Shop
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The price of gold could hit new highs per ounce this year and may lead to another round of second-hand jewelry sales, according to precious metals analyst GFMS. It predicted that gold could rise in the second half of the year as investors seek a safe haven from inflation, while higher prices could encourage more scrap sales. According to the firm, more gold has been sold as scrap through jewelers, pawnbrokers and traders - including
the now synonymous Cash4Gold - than mined by workers across the world.
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Rich and poor pawn for cash
Detroit Free Press via The Deseret News
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David Mazza walks into Motor City Pawn Brokers in Roseville, Mich., with an electric guitar in a soft black case. He says he has owned this B.C. Rich 6-string for about 10 years but needs to pawn it for gas money. "I need the money more than I need this guitar," says Mazza, 44, of Warren, Mich. "It's worth $500 new, but I just want $75."
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Ezcorp shares down on new law
The Associated Press via BusinessWeek
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Shares of payday lender and pawn shop operator Ezcorp Inc. slid as the market trended downward and one analyst assessed the impact of a proposed Colorado law on the business. Sterne Agee Analyst Henry J. Coffey Jr. said a bill passed by the Colorado Senate could affect the company's business by changing short-term payday loans into six-month loans. It passed by one vote and must be reconciled with a different version in the
House.
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Gold trades near a 5-month high after greece bailout agreed
Bloomberg via BusinessWeek
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Gold, trading near a five-month high, may drop as the dollar advanced on concern a 110 billion euro ($146 billion) rescue package for Greece won't contain the region’s
debt crisis. Bullion for immediate delivery was at $1,178.07 an ounce at 2:19 p.m. in Singapore after falling as much as 0.2 percent earlier. The metal rose to $1,181.73 on April 30, the highest level in more than four months. Gold reached a record $1,226.56 on Dec. 3.
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Man admits stealing pawnshop's guns
The Billings
Gazette
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A Casper, Wyo., man admitted in court that he helped steal roughly 55 firearms from a Casper pawnshop in January. William Antonio DeJesus told a federal magistrate he was living on
the streets at the time of the heist and using drugs when he agreed with his cousin to take part in the Jan. 10 burglary of Depend-A-Pawn. "I was homeless at the time, and going over (to his house) all the time and doing drugs and drinking, and he came up with the idea," the 29-year-old told U.S. Magistrate Michael Shickich.
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