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GF Weekly Newsletter
Washington-In the wake of a ban on Burmese rubies and jadeite, the U.S. Customs and Border Protection agency is granting a 30-day grace period to importers and exporters of non-Burmese gemstones who need additional time to meet new mandatory requirements.Those importers and exporters now have until Sunday, Oct. 26, to get up to speed on new rules regulating the importation and exportation of non-Burmese rubies and jadeite, according to a press release issued on Friday by the Jewelers Vigilance Committee (JVC).
The second-round effects of the global recession are beginning to be felt in the platinum industry, with what is principally an industrial metal being hammered by dramatic falls in consumption. Johnson Matthey's director of precious metals marketing, Mark Bedford, on Monday warned that the global recession, which had already pushed the platinum price below the $1000 an ounce mark, would also play out on the supply and demand side of the market. 
The Jewelers' Security Alliance said Friday said there has a surge of attacks on traveling salesmen in recent weeks. The recent attacks listed by JSA are happening in an area that spreads from New Mexico to Ohio. JSA, in its "Crime Alert" newsletter, reported the following events during a nine-day period beginning Sept. 24:
New York-The current economic state of the nation has even the most wealthy Americans watching their pennies, with jewelry spending one of the top casualties of the crisis.These, and other spending trends among America's upper class, were revealed at a press conference held on Thursday in New York City unveiling the results of the "Annual Survey of Affluence and Wealth" in America conducted by American Express Publishing and the Harrison Group.
I need to give credit where credit is due. First, to [Hearts On Fire owner] Glenn Rothman, who so eloquently penned a letter recently for a full-page advertisement entitled, "Are You Frozen with Fear?" Admittedly, as it should, this letter communicates the virtues of being a Hearts On Fire dealer. But it also addresses the timely topics of consolidation, decreasing market share and reduced profits.
Knowledge is power and for retailers, product knowledge can mean more sales. It is difficult to effectively sell to a consumer if we cannot show how a particular product will address a shopper's needs. Read on to learn some of the benefits of knowing the products you sell.
The proposed government purchase of $700 billion in troubled assets being hammered out by Treasury officials and legislators has been commonly referred to as a bailout, yet President Bush described it as a "rescue" last week. In a financial crisis that has been fueled by an erosion of consumer confidence as much by the underlying credit and derivative problems that caused it, subtle differences in language are important.
There has been a lot of talk about what is still called the "ABN Amro" diamond and jewelry division, which supplies about 30 to 40% of the industry's financing. As has been reported, it has been up for to sale for some time, seemingly to no avail. 
In a nation traumatized by uncertainty over the government's $700 billion economic rescue plan, Sulby's plea for relief is more Main Street prayer than Wall Street wish. With business down 50 percent, he can only hope that his holiday sales offset the five-figure sum Unclaimed Diamonds borrowed this year to make ends meet.
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GemFind: Diamond Search, Web Development, JewelCloud , ring builder, stud builder, pendant builder 2008-10-07
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Tags: 2008, October, Uncategorized
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