Whatever Became of Pegasus?

It's the summer of 1999. The industry is in an uproar about the then-undetectable Pegasus process, and fury spills over at the companies behind it-General Electric and Lazare Kaplan. Jewelers worry that a television newsmagazine like PrimeTime Live will seize on the issue and give the industry a black eye. Fast-forward a year and a half. A PrimeTime Live report does target the industry, but the controversy is over "conflict diamonds," which pose a bigger public relations problem than Pegasus ever could. When the people behind Pegasus announce an ambitious campaign to market their product nationwide, industry leaders are too distracted to notice and probably wouldn't care if they did. For a product once seen as the bane of the industry, Pegasus-now known as Bellataire-has won a remarkable amount of acceptance. The high-pressure, high-temperature (HPHT) treated stones are sold by some

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