| Poverty often worsened by payday loans
Community Action Partnership staff members Brenda Hammond, left, and Shirley Paulison recently met with state Sen. Shawn Keough, R-Sandpoint, to advocate for legislation that limits interest rates and restricts the number of payday loans in Idaho. The senator plans to introduce that legislation in cooperation with Rep. George Eskridge, R-Dover. .
Payday loans have benefits, risks
Judy Killion of Garden City said she wanted to pay her electric bill so she wouldn't be left in the dark. Her daughter, Amber Zahnter, also of Garden City, said she wanted to pay rent and utilities but was having a hard time meeting those obligations. Neither said they expected a loan from a payday or auto title lender would lead them further into debt. Killion said her problems began in 2000 when she was living in a trailer at Meadow Lark. Her electric bill was higher than normal -- $300 -- and she didn't have the money. Friends told her about payday loans. Killion borrowed $200 from Check Into Cash, which now does business as Ace Express, and a $100 loan from Money Lenders, which is no longer in business. She said the lenders explained the contract to her and answered her questions regarding the loan, but she wasn't aware of late fees and the companies didn't mention them.
Despite economic turmoil nationally, our area stable
The state's $1 billion payday-lending business continued to grow and headed off a big legal fight in the 2007 General Assembly between supporters of a ban and reforms pushed by the industry. Car-title lenders also remained unregulated after a legislative stalemate. The battles galvanized payday-lending opponents throughout the year, and a Hampton Roads group formed to lead the push for a ban in 2008. Virginians filed suits over unlawful collection practices, and credit unions pushed programs to their members to combat payday lending. The loans were banned this fall to the military, cutting a chunk of the Hampton Roads customer base.
Coliseum Mall Major changes hit the Coliseum retail area, with the Coliseum Mall getting torn down to make way for the new outdoor Peninsula Town Center.
US pawnbrokers benefit from hard times
Hard times in the US are benefiting pawnbrokers as beleaguered consumers pledge jewels, electronics and other goods in return for loans with interest rates running as high as 300 per cent a year. Dave Adelman, president of the National Pawnbrokers Association, said the number of loans at US pawn shops had risen 15-20 per cent since October. He attributed the increase to rising fuel prices and deteriorating economic conditions – an assessment echoed by other industry executives. “Brief and shallow downturns in the economy may benefit our business model," said Daniel Feehan, chief executive of Cash America, the biggest US pawnbroker chain, with 942 locations. Pawnbrokers offer loans in return for personal items. Customers can buy back their property for the value of the loan plus a fee, which works out to an interest rate that can reach 300 per cent on an annualised basis, according to the NPA.
Statistical skew drives homes sales panic
When trying to digest the more than 41,000 homes for sale on the Tampa Bay market, one shouldn't pour thousands more homes into the pot. But beware of the numbers/percentage game with home sales. It makes for snazzy headlines, but it's only half the story. We were sitting atop Mount Everest in 2005. Just because we've fallen off that summit doesn't mean we're stuck in Death Valley. James Thorner can be reached at thorner@sptimes.com or (813) 226-3313. Homes prices shrinking Data released Thursday show Florida's median sales price for existing single-family homes last month was $208,900, down 13 percent from $239,900 a year ago. Among Florida metro areas, Tampa Bay's median sales price dropped to $194,200 in December, down 14 percent from a year earlier.
Can it get any worse, Gordon?
Mr Brown came to power promising a "new" approach from his post-Blair administration, but Mr Hain's resignation has been viewed as the first "domino" of his government.The Prime Minister is now under pressure to explain why he did not sack Mr Hain two months ago when questions were first raised over his failure to declare donations.To add to his woes, Mr Brown was on a collision course with his back-benchers over anti-terror laws, after the Counter Terrorism Bill was published.Mr Brown's bad day began when he fielded a phone call from Mr Hain at 11:30am. The latter felt his position was no longer tenable as the Electoral Commission had referred his campaign donations to the Metropolitan Police. Mr Hain has always insisted his failure to declare the donations for his failed bid to become Labour's deputy leader was an accident.
Friday wild card
Why would anyone want a state prison or CWC in northern Idaho? How could an IDOC facility benefit the community as well as the offenders? These are fair questions. Ninety-five to 98 percent of state-incarcerated offenders will be released back into their communities. The receiving communities have little to say about that. Released offenders are coming, so it stands to reason that the receiving communities will feel and be safer if they can help released offenders not reoffend. .
Vignette gets bottom-line boost from tax benefit; EZCorp profits up 29 ...
Vignette made $13 million, or 49 cents per share, compared with $6.8 million, or 23 cents per share, in the last quarter of 2006. Excluding one-time items, profit was $7.3 million, or 28 cents per share, compared with $8.5 million, or 28 cents per share, in 2006. Revenue increased to $52.7 million from $52.6 million in 2006. Analysts were expecting profit of 29 cents per share on revenue of $51.7 million. Analysts typically exclude one-time items. The company gained $6.5 million on provisions for income tax payments, compared with a payout of $648,000 in 2006. EZCorp's profit increases 29% Austin-based EZCorp Inc. said profit rose 29 percent in its fiscal first quarter on a 22 percent increase in revenue.
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