That's Not Quite Right- Pawn Shops Today
In our continuing effort to provide a voice for today's pawn industry, we offer our latest installment of That's Not Quite Right !
NPR WAMU 88.5 American University Radio
http://thekojonnamdishow.org/shows/2009-09-28/our-regions-underbanked-communities
In a radio broadcast that aired on public radio’s Kojo Nnamdi Show, the host, Kojo, made a stark comparison between check-cashing stores and pawn shops. In his interview with Manny Hidalgo, William Campos, and Melissa Koide, Kojo made the statement that, “…Check cashing stores have become analogous to pawn shops or strip clubs…when you start seeing a lot of them around you know that you may not be in the best part of town any more.”
That’s Not Quite Right!
http://seattle.bizjournals.com/seattle/stories/2001/02/05/smallb1.html
http://www.newser.com/story/46618/pawn-shops-attract-upscale-clientele.html
“The emergence of upscale, suburban pawn shops reflects a shift in the public perception of the pawnbroker business,” according to Rob Robinson, president of the Washington State Pawnbrokers Association, as quoted in the Puget Sound Business Journal. In today’s sagging economy, the new upscale business model is attracting a chic, white-collar clientele in need of small dollar short-term loans. With pawn stores situated in some of the country’s wealthiest communities like Beverly Hills and Society Hill, middle and upper class customers are relying on the pawn industry now more than ever. The Newser.com reported that, “Business owners have increasingly used pawn shops to cover their expenses as it becomes more difficult or costly to get bank loans, and first-time clients are up 10%.” The antiquated, seedy view of pawn stores simply doesn’t hold true anymore.
Prince George County Police
http://www.gazette.net/stories/10012009/prinnew121546_32522.shtml
The local police of Prince George County Maryland were cited in the local news journal accusing pawn shops of contributing to a rise in criminal activity. The article states that, “police blame a rise in burglary and petty theft on the prevalence of pawnshops willing to take in the stolen goods.”
That’s Not Quite Right!
According to the National Pawn Brokers Association, less than 0.5% of items found in pawn stores are identified as stolen. Pawnbrokers work closely with local and state authorities and require positive identification from anyone pawning items. Richard Sussman, president of the Maryland Pawnbrokers Association, argued in The Washington Post that pawn store owners are deterred from buying stolen items because of the financial losses they would suffer. “It is in the stores' interest to keep them out, because any money from them would be lost if police learned of the item,” he said. Pawnbrokers work to serve the un- and under-banked members of the community, as well as people from all walks of life, not indigents or thieves.
Learn more at www.PawnShopsToday.com
Follow Pawn Shops Today on Facebook and Twitter
NPR WAMU 88.5 American University Radio
http://thekojonnamdishow.org/shows/2009-09-28/our-regions-underbanked-communities
In a radio broadcast that aired on public radio’s Kojo Nnamdi Show, the host, Kojo, made a stark comparison between check-cashing stores and pawn shops. In his interview with Manny Hidalgo, William Campos, and Melissa Koide, Kojo made the statement that, “…Check cashing stores have become analogous to pawn shops or strip clubs…when you start seeing a lot of them around you know that you may not be in the best part of town any more.”
That’s Not Quite Right!
http://seattle.bizjournals.com/seattle/stories/2001/02/05/smallb1.html
http://www.newser.com/story/46618/pawn-shops-attract-upscale-clientele.html
“The emergence of upscale, suburban pawn shops reflects a shift in the public perception of the pawnbroker business,” according to Rob Robinson, president of the Washington State Pawnbrokers Association, as quoted in the Puget Sound Business Journal. In today’s sagging economy, the new upscale business model is attracting a chic, white-collar clientele in need of small dollar short-term loans. With pawn stores situated in some of the country’s wealthiest communities like Beverly Hills and Society Hill, middle and upper class customers are relying on the pawn industry now more than ever. The Newser.com reported that, “Business owners have increasingly used pawn shops to cover their expenses as it becomes more difficult or costly to get bank loans, and first-time clients are up 10%.” The antiquated, seedy view of pawn stores simply doesn’t hold true anymore.
Prince George County Police
http://www.gazette.net/stories/10012009/prinnew121546_32522.shtml
The local police of Prince George County Maryland were cited in the local news journal accusing pawn shops of contributing to a rise in criminal activity. The article states that, “police blame a rise in burglary and petty theft on the prevalence of pawnshops willing to take in the stolen goods.”
That’s Not Quite Right!
According to the National Pawn Brokers Association, less than 0.5% of items found in pawn stores are identified as stolen. Pawnbrokers work closely with local and state authorities and require positive identification from anyone pawning items. Richard Sussman, president of the Maryland Pawnbrokers Association, argued in The Washington Post that pawn store owners are deterred from buying stolen items because of the financial losses they would suffer. “It is in the stores' interest to keep them out, because any money from them would be lost if police learned of the item,” he said. Pawnbrokers work to serve the un- and under-banked members of the community, as well as people from all walks of life, not indigents or thieves.
Learn more at www.PawnShopsToday.com
Follow Pawn Shops Today on Facebook and Twitter
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Posted by Pawn Shops Today at 10/1/2009 1:19 PM 
Categories: Pawn Industry News
Tags: Kojo Nnamdi Show pawnbroker pawn store pawn shop National Pawnbrokers Association Pawn Shops in Prince George County NPA up scale pawn shops
Categories: Pawn Industry News
Tags: Kojo Nnamdi Show pawnbroker pawn store pawn shop National Pawnbrokers Association Pawn Shops in Prince George County NPA up scale pawn shops
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