And here’s what happened this week …
Bankruptcy du Jour?:
- Mervyn’s suppliers told not to ship.
– NY Post: “Will file next week.”
– Chain reassures employees and vendors.
– End of regional retailers?
CEO of moissanite company resigns.
– Company sales drop 52%.
Whitehall gets interim DIP financing.
– A lot seems to be happening with case, but nothing solid I can report at present. Consignment issue still not settled, although it may be getting there. The list of bidders is apparently pretty fluid, and apparently the uncertainty over the consignment issue isn’t helping things. The “stalking horse” bid – which was three liquidators – may be withdrawn after the judge declined to approved the breakup fee. But there may be new people coming into the picture. It looks like any bidders will be looking at specific stores, rather than the whole chain. Stay tuned …
– Chaim blasts “JVC spin.”
GLG: Short sellers target Zale.
De Beers 1H: 10% sales gain!
– Gary Ralfe retires.
De Beers’ three new diamond mines!
– Company’s first mines outside Africa.
South African license concerns “eased.”
– SA State Diamond Trader “unhappy.”
De Beers averts South Africa strike.
Is South Africa “mined out”?
Wage dispute at Namdeb.
– “Olive branch” in Leviev Namibia strike.
– National union gets involved in Leviev dispute.
Indian strike continues.
– “Silent rally” in Surat.
Legal battle over Botswana mine.
– Commentary from C Wyndham.
Harry Winston looks to retail.
Fabrikant expenses tallied.
Zimbabwe diamond cartels?
Israeli industry recognizes Chaim Even-Zohar.
Post on the very real problems posed by jeweled teddy bears.
Diamonds found in landfill. I have read a lot of strange diamond stories in my time, but this is one of the scariest. There is nothing more frightening than that landfill. Ugh.
Reuters on jewelry stock prices. (From last Friday.)
Canadian Press on the latest Leviev controversy.
Fayetteville, NC newspaper on jewelry bankruptcies.
LA Times blogger doesn’t like showing off engagement rings.
From the Blog:
Have a good weekend ..