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...bigger obstacle for pawnshop owners is legislation. The three public pawnshop companies also make so-called payday loans: short-term loans, typically seven to 30 days in length, that are not backed by merchandise. The loans typically carry interest rates of 10% to 20% for a two-week term, which translates into an annual percentage rate exceeding 300%. Industry experts say the APR is just theoretical since payday loans are meant to be very short term, lasting only until the borrower's next paycheck. Even so, a number of states, like Ohio, are imposing caps on the rates...

Author: /time Magazine | Title: Pawnshops Flourish in Hard Times, Drawing Scrutiny | 1/14/2010 | See Source »

When cougars gather for a convention in Las Vegas next week, they'll have a lot on their vigorous plates. There's the keynote address - "Younger Men/Older Women: The Ideal Combination" - not to mention voting for Miss Cougar Las Vegas. But an equally weighty topic is likely to create as much buzz among these ladies: Carnival Cruise Line's decision not to book anymore cougar-themed groups for cruises...

Author: /time Magazine | Title: Why Cougar Cruises Proved Too Hot for Carnival | 1/14/2010 | See Source »

...Harvard club, which boasts about 50 members and scores of connected (and fit) alums, hosts five practices a week and several tournaments each semester. The club is “really like a family more than just a club or just a team,” Xie said...

Author: By Julie R. Barzilay, CRIMSON STAFF WRITER | Title: Kicking Ass and Taking Names for Ten Years | 1/14/2010 | See Source »

...hopes of scaring away evil spirits. On Monday, it successfully tested a missile-defense system aimed at scaring away the U.S. from defending the island nation of Taiwan. By shooting down one missile with another, China demonstrated its growing military prowess. But it also telegraphed its anger over last week's sale of U.S. Patriot interceptor missiles to Taiwan. Taipei would use the Patriots to blunt any attack by Beijing's 1,100 missiles poised just across the Taiwan Strait. China has threatened to use force should Taiwan, which has had its own political system for the past six decades...

Author: /time Magazine | Title: China's Missile Test: A Symbolic Warning to U.S. | 1/13/2010 | See Source »

...mobile police checkpoints have been set up nationwide, and violators face jail terms of up to six years if convicted, and disqualification from holding public office. It is, of course, too early to predict whether the measures will be effective. But a cartoon in the Philippine Daily Inquirer this week succintly captured the public mood, depicting the barrel of a handgun as two fingers - crossed. And as security analyst Pete Troilo at risk consultancy Pacific Strategies & Assessments points out, "Innately resilient Filipinos and hardened expatriates ... recognize that despite the violence that will definitely accompany the elections, this does not portend...

Author: /time Magazine | Title: Philippines Gun Ban Kicks Off Amid Campaign Violence | 1/13/2010 | See Source »

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