The mood (and it seems the economy) has improved a bit, but we are clearly not out of the woods yet. We still have a long way to go. But things are definitely going in a better direction that they were, say, in January. Let’s hope that continues.
And here’s the news:
Fed: Economy may soon stabilize.
– Every state now in recession.
– Consumer confidence flat.
Basel “better than expected.”
– Other (more mixed) reports: Idex, Rapaport, Antwerp Facets.
Randy McCullough leaves Gitanjali USA.
– Gitanjali: We’ll keep expanding.
Niwaka USA goes bust.
Gottschalks to liquidate.
– Sign of “too much retail.”
Shane closes three stores.
Robbins Brothers bidder: It’s us or nothing.
AGL re-purchased from Collectors Universe.
– Beesley distances himself.
“Diamonds” miniseries will air on ABC.
– Interview with its stars. Sounds not good.
New York luxury tax defeated.
– JA fights LIFO repeal.
Hedge fund reduces Tiffany holding.
– Tiffany “could regain its sparkle.”
Retail stocks may have bottomed.
– A pretty good week for jewelry stocks..
– GLG on Finlay, Signet and Zale.
Leviev: Diamond prices rising.
Israeli polished exports decrease 56%.
De Beers stops exploring in Congo.
WFDB: Don’t trade with Zimbabwe.
Diavik scales back production.
– Harry Winston sales down 37%.
– Earning call transcript.
Chaim on the Botswana tenders.
– New Botswana mine could produce by 2010.
Rio Tinto “committed to diamonds.”
Gem Diamonds may close Australia mine.
Interview with Zale VP about ecommerce.
Macy’s accused of hampering children’s jewelry investigation..
Jewelers Opening:
Jewelers Closing
100-year-old Zell Jewelers in Oregon. Part of the Finlay saga.
Man sues jeweler over 33 carat diamond.
Sotheby’s to offer big blue stone.
– Petra has high hopes.
New “conflict metals” campaign.
– Strategy paper mentions gold, tungsten. (PDF) There is also talk of “blood diamonds,” but the reference is not unflattering to the industry.
No sale for Modern Jeweler publisher.
Michelle Obama compares children to diamonds.
Fiance drops ring off Brooklyn Bridge. Amusing video.
Media Watch:
– Washington Post and AFP have yet more articles about the industry “losing luster.”
– The Hindu on the industry’s problems in Antwerp.
– Mmegi on the industry’s problems in Japan.
– Voice of America on the industry’s problems in India.
– Foxnews.com has discussion on industry – and not just about its problems! Amazing!
– Forbes calls diamonds “thing to buy.”
– CNN interviews president of LVMH jewelry division. (video)
– Indiana Daily Star student doesn’t like diamonds, and calls the industry “a well-oiled machine.” If she only knew …
From the Blog:
Anti Diamond Movie to Air on ABC
Gitanjali: We’re Still Expanding
Robbins Brothers Bidder: It’s Us or Nothing.
Have a great weekend …
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