Hit the Reset Button

When Steve Ballmer of Microsoft talks about "reset" in the software business, a term used by others in TV interviews, we know that business managers are seeing far more than a short-term recession. They expect the level of business to be distinctly lower than it has been for years and plan to scale back proportionately. That thinking is evident in the layoffs, plant closings, store closings, and abandonment of expansion plans that we see all around us. The jewelry industry, tiny in comparison to autos or high tech, is right there with the rest. We're a very entrepreneurial industry that doesn't react the same way as corporate entities. Where there are public companies or large corporate organizations—mostly on the retail side—we see comparable actions. People are laid off and every expense is scrutinized. Fair enough. There has never been a recession, mild or not, in which companie
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