This is posted early as I am in the Holy Land right now at the Israel Rough Conference… Hope to see some of you there.

 

Now the news …

 

Fortunoff fall-out.

– Blame the hedge funds?
– Newsday: “Sad.”

 

BHP again bids for Rio. Rio again not interested.
– Will it try again?

– Could China prevail?
– Anti-trust officals scrutinize.

Sales Roundup:
– Zale 2Q: same store -7.3%.
– Signet 4Q: overall same store – 6.7%, US same store – 8.6%.
– Finlay 4Q: sales + 24%, same store - 6.4%.

11 (!) Long Island jewelry stores busted in tax sting.

Blue Nile sues Yehuda. And expands overseas.

De Beers sales, profits down.

Finlay loses 94 Macy’s doors. 

Chaim: Manufacturing “shake-up.”

Gassman/Idex: Retailers must raise prices.

 

Lawyer for suspended sightholders speaks.

 

Indian trader suicide. Other trader arrested.

South African conference:
- Chaim criticizes beneficiation. Botswana retorts.

- Gareth Penny speech.

 

Varda Shine: We don’t hate India.

Namibian diamond uproar.

 

JCK Luxury article on “country of origin” spurs talk.

 

Vegas jewelry center clears hurdle.

 

Media Watch:

- Wall Street Journal: Gold replacing silver.  Reprinted here.
– LA Times blog calls De Beers ad “sexist” and “manipulative.” Didn’t really get to blog about this, but I’ve talked about similar topics, and I’d be interested in people’s thoughts. But of course the ad is manipulative. That’s what they do.

– LA Times on conflict diamonds. (More positive than last week’s article. Odd.)

– Newsweek talks to Sierra Leone’s new president (mentions Blood Diamond, Kimberley, etc.)

– Washington newspaper on “sustainable” jewelry. Santa Fe newspaper talks to Mark Choyt (fairjewelry.org)
– ABC News on “World’s Priciest Engagement Rings.”

From the blog:
– Fallout from Fortunoff.
– Hedge funds and jewelry.

 

Enjoy your weekend …

 

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