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December 2008

Pawnshop business booms

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Read original copy here: http://www.freep.com/article/20081223/NEWS05/812230359/Pawnshop-business-booms

The economic meltdown has been good for business at American Jewelry and Loan in Detroit, a 50,000-square-foot former bowling alley crammed with lawn mowers and snowblowers, bicycles and boats, an occasional car, and fur coats by the tens of thousands.

The parking lot of Les Gold’s pawnshop on Greenfield just south of 8 Mile, is almost filled on a Friday afternoon and the lines of customers inside are long as they wait, quietly, to turn over their jewelry or household items for cash.

Among the customers was Jamie Green of Westland, who had just pawned some speakers and was in line to get her cash. …

Laura Chavez tries on a mink jacket at American Jewelry and Loan on Thursday while boyfriend Terry Hudson looks on.
Laura Chavez tries on a mink jacket at American Jewelry and Loan on Thursday while boyfriend Terry Hudson looks on.