It is still tough days. From everything I have heard, business has not picked up at all, and there is no reason to think it will pick up in the next couple of months. Still, a lot of the bankruptcies people have talked about have not materialized (yet.) And we all hope that there is a new spirit of optimism in the air with the new President. Certainly, the mood at the JA Show was not nearly as bad as I thought it would be. (Not that it was chipper.)
And here’s the news …
Fortunoff “up for sale.”
– Good news for Finlay?
Sterling cuts 114 jobs.
CNN: Retail jobs shrinking.
– Report: High end retailers in Penn prosper.
Zale CFO resigns.
– Company’s stock hits low.
– January DTC sight: Under $100 million.
– WFDB “welcomes” more outside sales.
Alrosa-De Beers contract “in limbo.”
David Lamb leaves De Beers.
Mineweb: Diamond industry looks “scary.”
Bank of America sues Christian Bernard.
– Chain reopens for clearance sales.
Paragon Lake hires Lazare Kaplan vet.
– A Jaffe names new VP.
Blue Nile stock to plunge?
– Analyst cuts price target.
Boscov bailout hits snag.
Indian industry counts on domestic market.
– Surat diamond “exodus.”
Israeli trader shut by bank.
Japanese jeweler files for bankruptcy.
EU wants Zimbawbe diamonds “investigated.”
– Zimbabwe stones mined by soldiers.
– Mugabe’s wife beats photographer with rings.
Tiffany stops cutting in Yellowknife.
De Beers clashes with South African union.
– Element Six labor dispute.
De Beers brainstorms Namibian job cuts.
– Namibian mineworkers want government bailout.
Cullinan may produce 27% more stones.
Ex-President Bush alters JADE act.
– Apthorp owners compromise.
New Jersey jewel theft suspects arrested.
New First Lady wears “diamond studded jewelry.”
– Earrings from Loree Rodkin.
– First Couple “jewelry observations.”
Yet another attempt to market men’s engagement rings. Well, it is fairer. (Not to mention more lucrative.)
– Zale promotes men’s Valentine gifts.
Academy Award diamond preview.
Foxx Like a Crazy: Jamie won’t wear diamonds.
Plumber rescues huge ring from toilet. (And no, it wasn’t Joe.)
– The Dallas Morning News on Zale. Watch out for the “watch list.”
– The Cape News on Namibia’s diamond controls.
– FT’s Alphaville snarky about De Beers speeches.
From the Blog:
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