Cutting Remarks

October 3, 2008 | Link This | Email this | Comments (0)

Just a reminder … if you want to comment, type the verification letters in all caps ...

Here’s the news ...

 

Financial Fiasco Fallout:

-  Chaim on ABN-Amro.

- Watching U.S. diamond banks.

- Wealthy co...Read More

October 3, 2008 | Link This | Email this | Comments (1)

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. 

Chaim predicted yesterday the division will eventually find a suitable and stable home, as the government of Belgium, which just injected cash into parent Fortis, will likely insist on it. Still, one has to feel bad for the people there -- they will now have three owners in one year. Not a great situation for the most important bank in our industry.

...Read More

October 2, 2008 | Link This | Email this | Comments (0)

... And we mean that literally ...

Zale has been been added to the SEC's list of stocks that can't be short-sold. Dow Jones explains ...

The rule, issued on Sept. 19 to help stabilize shares of banks, lenders and brokerages, now encompasses a range of other businesses with sometimes tenuous links to finance. For fiscal year 2008, the "All Other" part of Zale's business, which includes its insurance unit, accounted for less than 1% of its overall revenue....Read More

September 26, 2008 | Link This | Email this | Comments (0)

So, for any newcomers, I do this every Friday at about 2:30 or so ... It's a summary of the most interesting/newsworthy things on the web this week ...

And here's the news ...

Interview with Zale CEO.

 

Blue Nile CEO: Growth “difficult.”

 

More luxury retailers opening outlets.

...Read More

September 26, 2008 | Link This | Email this | Comments (1)

Two of the lawyers involved in the big Whitehall consignment fight -- Lawrence Ginsburg of Moses Singer, and Joseph Vann of Cohen Tauber Spievack and Wagner -- held a very interesting seminar with the Indian Diamond and Colorstone Association last night.

Their main message: Though the Whitehall situation came out okay in the end, with consignors retaining rights to their goods, it could have gone the other way, and a lot of people -- not to mention the industry's business model -- would have been seriously hurt as a result.

"This is no longer in a handshake indus...Read More