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CBS and many moreThey're pawning their possessions for gas money. Jamie Clagett says he's never pawned anything before but today he has no choice.
“Gas is outrageous. I need money,” says Clagett. Clagett says he's down to a quarter of a tank so he brought in his car stereo and a stack of DVD's.
He's hoping to get at least $50. “It's $42. Interest is $10.50 for 30 days,” the clerk said.
He plans to put every penny in his gas tank even though $42 won't come close to filling his truck up.
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High gas prices forcing some to pawn their favorite thingsPumped up gas prices are forcing some Mid-Southerners to pawn their favorite things.
At least one Arkansas Pawn shop manager said she has never seen such an increase in business as she has within the past year.
She said when gas goes up, business goes up.
"You have to have gas to go to work and that's the only way to get there is with gas and so there's really nothing you can do," Christy Dubar of Express Pawn said.
http://www.wmctv.com/global/story.asp?s=8216736_______________________________
Pump patrons turn to pawn shops for pre-payday loansHAMPTON -- The pain at the pump is forcing some people to pawn anything of value to fill their tank until they get paid.
Pawn shop owners are seeing a whole new clientele come through the door as gas prices inch up. According to AAA, the national average for a gallon of regular rose to $3.53 Wednesday, another record.
Eve Epstein and her husband run Epstein Pawn in Phoebus. They say now more than ever people are coming through their doors desperate for a loan just to get by.
“They are having a hard time buying food, buying gas just to get to work,” said Epstein. “We’ve been here 25 years, almost, and this is the worst we’ve seen.”
http://www.wvec.com/news/topstories/stories/wvec_local_042308_pump_pawn_gas.920687aa.html_____________________________________
People Turn To Pawn Shops In Faltering EconomyBIRMINGHAM, Ala.-- Mike’s Pawn Shop owner, Mike Cohen, has been in the pawn shop business for about 40 years. As a business owner, he's survived more than a few downturns in the economy.
In fact, people often turn to him first for quick cash when things get tight. Speaking about the economy Tuesday, Cohen said, “I think this one might be a little worse than most of them.”
Business at Mike's is likely up slightly, but what's really different is how clear people are when asking for a loan on one of their valuables.
“Where they used to not say what it was for, they do now. ‘I gotta buy gas for my car to go to work’,” Cohen said.
http://www.nbc13.com/gulfcoastwest/vtm/news.apx.-content-articles-VTM-2008-04-22-0013.html_____________________________________
BUSY PAWN SHOPSILLINGS - Steve Brown from First National Pawn says April is usually a slower month in the pawning business, but this April has been unexpectedly busy. He attributes the rise in customers to recent price increases in everyday necessities.
"A lot of people are having to maybe do an extra loan that they hadn't planned on because of the price of gas," says General Manager Steve Brown. Brown also says that the shop is seeing more and more gold and silver coming through the doors.
http://www.kulr8.com/news/local/18029374.html_________________________________
Hard Times Mean Good Times for Pawn ShopsWhile many stores are struggling in these slow economic times pawn shops across the nation are doing well. It's a trend that's true here, too.
As people struggle to pay for rising gas and food prices, pawn shops become an answer for cheaper shopping, and some fast cash.
We explain why hard times mean good times for pawn shops. Sales are up for stores like Holmen Pawn.
"We have more inventories coming in and we're also selling more. If you have a tighter economy people are looking to spend less on items," says Nels Holley, the owner of Holmen Pawn.
http://www.wxow.com/News/index.php?ID=18896____________________________________
Sagging economy means booming business at pawn shopsSEATTLE - At Aurora Loans, owner Dean Berg says he's doing slightly more business than normal. More people are buying, selling and pawning guns, guitars and gold.
It seems more people are taking a second look at the second-hand bits and pieces of their lives..
That broken gold chain has probably been cluttering up somebody's jewelry box or sitting on a dresser top, so why not convert it to cash?
Tested for gold content and weighed, the chain might get you $50.
It's the same story on the Eastside at Yuppie Pawn, where more pawning means better shopping.
http://www.king5.com/business/stories/NW_042208WAB_pawn_shops_economy_SW.8d712f13.html_______________________________________________
High gas prices mean big business for pawn shopsEL PASO, Texas - In El Paso, there's no question high gas prices combined with a struggling economy are making everyday living costs more difficult. For some, selling their valuable is the only option to survive.
"Jewelry...coins. Anything they can exchange for money so that they can get by," said Hector Garcia, manager of Quality Coin, Jewelry and Loans.
At Hector Garcia's pawnshop in Central El Paso, business is booming. People come in to sell or trade old jewelry, watches and coins, just to get a little extra cash. It's a full spectrum of customers.
"From people who are on a fixed income to people who have money," Garcia said.
http://www.kvia.com/global/story.asp?s=8218078Read more:
http://www.wciv.com/news/stories/0408/513531.html
Mods: What's interesting is that there are DOZENS of stories from across the country about people pawning their things to pay for GAS. Collectively, this is a big, big story.I included a BUNCH but there are many, many more here:
http://news.search.yahoo.com/news/search?p=pawn&c=