People at De Beers (the retailer) asked for some clarification of this item (basically, the headline) … they told me that, even though they are not expanding in 2009, they haven’t canceled plans due to the bad economy, they just couldn’t find appropriate leases. They may also have more openings in 2010.
And now the rest of the news …
Finlay warns about liquidity.
– 10Q filing.
– GLG: Creditors may fare poorly.
JCK survey on jewelers and the recession.
De Beers Applies De Breaks
– Snap Lake on 10 week hiatus.
– Debswana shuts down two mines.
– Namdeb curtails operations.
– Botswana unhappy with De Beers aggregation delay. They learned from the Internet?
More holiday procrastinators this year?
– Sears pushes “last minute” diamonds.
JC Penney “Doghouse” campaign really does go viral.
– Retailers’ “winning Facebook strategies.”
Former Mervyns stores bought.
Report: Whitehall has sold five of 335 leases.
NY state proposes “luxury tax.”
– Analyst: Could hurt Tiffany.
Only 50% of Surat cutters working.
– Labour Dept. not happy.
– Indian industry seeks government “bailout.”
Israel wants government credit facility.
Canadian government takes over Tahera mine.
– “Shutting down for good.”
This Week in Criminality:
– New diamond heist in Houston.
– Ha’aretz: Israeli brothers suspected of fraud.
– Diamond ponzi scheme in LA.
– More arrests in diamond district?
– Theft becomes “source of cheer.”
Will Harry Winston theft impact margins?
– New York Times: The “heist at Harry’s.”
– Gawker: Thieves new folk heroes.
Will Blue Nile miss fourth quarter?
– Motley Fool’s commentary.
– Former Mattel pres. joins board.
Seeking Alpha: Some luxury stocks doing well.
– Jewelry stocks rise after rate cut.
– Alabama newspaper: Jewelers “having better month” than others.
– De Beers at Bal Harbor
– Thomas Mackle in Houston.
– Andrews in Bay City, Michigan.
Sarin CEO leaves post.
MJSA gets new chairman.
GemEx sues Zale.
Rio Tinto says Argyle expansion going ahead.
Venezuela seeks mining partners.
Chaim: Don’t suspend Zimbabwe from KP.
Mark Boston on “Belgian provenance.”
DIC’s Morrison honored for AIDS activism. Congratulations to her.
SF first lady wears big diamond.
Woman retrieves diamond from museum vacuum. I like the last line: “Don’t give up hope.” We’re all trying not to.
– New York Post on De Beers and Tiffany’s ad campaigns.
– The Wall Street Journal on luxury marketing (mentions De Beers campaign.)
– The New York Times talks to Gareth Penny.
– Livemint.com talks to Varda Shine.
– Reuters on people hocking jewelry.
– Malaysian newspaper says you should invest in diamonds.
– UK Money Week says you should not.
– Chicago Tribune shops for diamonds in New York.
– Current TV’s “Target Woman” on jewelry ads.
– InStyle’s best celebrity proposals.
– Lovetripper: Top ten celebrity engagement rings.
From the Blog:
Have a great weekend …