BlueInGreen - You are absolutely right that various adjustments like PS's curves, levels, or contrast can be used to crush the shadows into blacks and blow the highlights into whites. However, applying such an adjustment to a photo that has normal contrast because of diffuse ambient illumination simply can not give the same look that an on-camera flash will produce. The reason is that the spatial distribution of the of the crushed shadows and blown highlights won't be the same as what is produced by the normal extra contrast that is automatically introduced by a direct, on-camera flash.
For some uses, the faked look may be acceptable, even preferable, but if you really want to convince viewers that they are looking at the results of a little camera with a hotshoe flash pointed directly at the subject, you've either got to manually adjust (usually by painting) all the necessary areas, or else save yourself an enormous amount of time in PS by just shooting the image with a cheap flashgun.
I didn't have access to an outdoor news stand, so I took a couple of quick photographs of some pens and pencils on a old bookcase in my basement to illustrate the problem:
#1) First is an image taken with nice diffuse ambient illumination produced by a couple of flashes pointed at a big reflector:
#2) Next is an image take from the same position with the illumination produced by an on-camera hot shoe flash pointed at the subject, as well as an animated GIF comparing the histograms of (#1) and (#2):
Note that the peak on the RHS of both histograms is at the same brightness level (ie, same position on the x-axis). This shows that the brightest areas in both (#1) and (#2) are of the same brightness. However, there are many fewer near-black pixels in #1 compared to #2, exactly as expected.
#3) Finally, here is (#1) after a curves adjustment like you suggested to crush the shadows into blacks and raise the brightest highlights into pure, blown whites. As you can see, the dark areas in this image are even darker than the real shadows in (#2), but they just aren't in the right places -- the extra contrast is nice and certainly looks dramatic, but it just don't look like real shadows, if that's what you are going for.
Here is a key to the annotations:
A: Note that the RGB values of this area is exactly the same in both photo #1 and photo #2, and, in both images are almost exactly the same color, a nice neutral gray.
B & C: Areas in the foreground that both become significantly darker when directly illuminated.
D: Area in the distant background that illustrates the normal fall-off of light with distance from a direct flash. This corresponds to the back of the news stand in the OP's picture.
G: Areas that go from very light, soft-edged shadows in #1 to much darker, hard edged shadows in #2.
F: Notice that the center of the ruler is much darker when directly illuminated (ie, #2). This is because it is a flat surface and it is reflecting the floor which isn't illuminated in #2, but is illuminated in #1.
G: Area that shows the change from a very gradual gradient in #1 to a very sharp shadow edge in #2.
HTH,
Tom M