Word: america
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Dates: during 2010-2019
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...trade group's executive director, Dana Meineke, says the weak economy and turmoil in the credit markets are expanding the customer base. "We're seeing some new faces," says Daniel Feehan, president and chief executive of Cash America International, a pawnshop company based in Fort Worth, Texas. (See the best business deals...
...Gold is an important input because most pawnshops make most of their money on jewelry," notes John Rowan, an analyst at Sidoti & Co. He says the three publicly traded pawnshop companies - Cash America International, EZCorp and First Cash Financial Services - generated earnings that outperformed many other companies in the financial-services sector over the past year and a half. "They didn't crater like other industries did throughout the recession," says Rowan...
...company's rivals are on track to post even bigger gains: Cash America and EZCorp are currently projecting earnings growth of up to 20% in fiscal 2010. The three companies' stocks improved in 2009 - Cash America climbed 28%, First Cash rose 16% and EZCorp was up 13% - and analysts expect the rally to continue this year. "You've got cheap stocks growing at 20% a year," says Coffey, "so the stage is set for a pretty good...
Coffey estimates that payday loans account for 35% of Cash America's revenue, 22% of EZCorp's total revenue and only 10% to 12% of First Cash's revenue. First Cash recently sold all 22 of its payday outlets in California, Washington and Oregon to lower its exposure to payday-loan regulatory issues - a move Elving says should boost the company's valuation...
...potential power of a Consumer Financial Protection Agency, part of the financial-reform bill recently passed by the House and under consideration in the Senate. Under the current versions of the bill, the agency would not have the power to set interest rates. But public anger with America's financial industry is rising, and that raises the possibility that extremely high interest-rate charges could ultimately be subject to federal limits...