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JCK Magazine: August 1, 2007

JCK Magazine: August 1, 2007

A recent Supreme Court decision will, for the first time in nearly 100 years, allow manufacturers to set minimum prices for retailers, a practice that was previously considered illegal price fixing. Analysts called it a blow to discounters and Internet resellers of branded products. The Supreme...
Jewelry from India and Thailand imported into the United States will now bear a 5.5 per-cent duty, the result of changes being made in America's Generalized System of Preferences, which aims to help developing countries by lowering their import tariffs. Sterling Jewelers Inc. and associations...
The board of directors of the American Gem Trade Association announced that they have accepted the resignation of Douglas K. Hucker as chief executive officer and executive director of the association. Hucker will continue to work for the association in an advisory capacity for the next six months...
William R. “Bill” Lieberum, better known to habitués of Polygon and PriceScope as “Rockdoc,” died June 20 at the age of 57. Lieberum was a Gemological Institute of America graduate gemologist, a former American Gem Society retail store owner, and certified gemologist appraiser. Lieberum once...
Rio Tinto Diamonds, which markets production from the Argyle, Diavik and Murowa mines, is getting more involved in promoting diamonds, Jean-Marc Lieberherr, general manager for marketing, told JCK recently. “It is clear that De Beers is not ready to bear the burden of generating demand for the...
De Beers' rough diamond sales through its Diamond Trading Company reached $6.15 billion in 2006—its second- highest number, but down from 2005's record $6.5 billion. The company said the sales drop reflected “reduced purchases from Alrosa in line with the commitments given to the European...
The Gemological Institute of America has announced plans to open overseas labs in Southeast Asia, southern Africa, and what it terms the “major industry centers.” GIA president Donna Baker said the first priority is for GIA's Thailand colored stone lab to expand into diamond grading, which she...
A group in Panama hopes to set up Latin America's first fully functioning diamond exchange. The proposed Panama Diamond Exchange would be based in Panama City, the country's capital, and function as a gateway to the Latin American market, according to president and chief executive officer Charles...
De Beers is restructuring Diamdel, its sightholder subsidiary that traditionally sells to smaller and medium-size dealers. The announcement caused anxiety in the diamond industry, since De Beers had cited Diamdel in response to criticism that its Supplier of Choice policy hurts middlemen. Diamdel...
Aber Diamond Corp., which owns a 40 percent stake in the Diavik diamond mine in Canada's North-west Territories, is changing its name to Harry Winston Diamond Corp. The company completed its purchase of the celebrated retailer last year. The name change “will allow the corporation to attract...
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