Payday Loan Store Knifepoint Robbery Caught on Tape

Police seek suspect

Screen grabs from the video of the Virginia robbery.

Prince William County police in Virginia have released photos of a payday loan store robber in hopes that the man will be caught.

The robbery occurred a couple of weeks ago in Manasass at Fast Auto Loans and Payday Loans.

Robber carried knife

Police say the man in the video who robbed the payday loan store wielded a knife. The man entered to store about 4:30 p.m. on March 17.

Witnesses and police say he robber walked in and asked to use the phone. He then allegedly grabbed the clerk from behind and dragged her into a back room. She says he threatened her with a knife and demanded money, police said.

Suspect description

The robber was described as a black male with a mustache, 25-30 years old, approximately 6-feet 2-inches tall.

Anyone with information about this robbery is asked to call Prince William County Crime Solvers at 703-670-3700 or 1-866-411-TIPS. You don’t have to give your name, just the information. There’s a $1,000 cash reward.

Another taped robbery

A robbery in Moreno Valley, California, at an Advance America payday loan store was captured on video that same week. ... click here to read the rest of the article titled "Payday Loan Store Knifepoint Robbery Caught on Tape"

GM Stock Tanks After Short-Term Bailout Announced

A stinging quick rinse

Susan Tompor of the Detroit Free Press writes in a recent editorial that GM will have 30 days to detangle. President Obama calls it a “quick-rinse” bankruptcy. GM stock has tumbled as a result. Investors don’t see more cash advance loans coming from the Obama administration.

Brad Coulter of O’Keefe & Associates said that “the quick rinse sounds good; I just don’t know if it would really work.” The fast-track, pre-packaged reorganization plan the Obama administration appears ready to lay on General Motors is intended to erase debt and contractual obligations, but it has also never been done in this way before.

What would happen?

We don’t know for certain yet. Not until President Obama explains his intentions more fully. Some speculate that the federal government will specify exactly how much money will be made available for what creditors. Take it or leave it.

“We’re in new territory,” Coulter said. “Unless a lot of government funding were involved, I’m not sure how the quick rinse would work.”

No more bailouts?

President Obama has made it clear that the GM and Chrysler will have a limited amount of time to work with creditors, unions, and other stakeholders. They must fix the mess they’ve made by completely restructuring their business, which is no small task to complete in 30 days. ... click here to read the rest of the article titled "GM Stock Tanks After Short-Term Bailout Announced"

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