09012015Tue
Last updateMon, 31 Aug 2015 11pm

Tracy Pearls founder, Tracy Bronson dies at 90

Henry (Tracy) Bronson, founder of Tracy Pearls, di...

ICA appoints Gary Roskin as Executive Director

ICA appoints Gary Roskin as Executive Director

(NEW YORK) - The International Colored Gemstone Ass...

New appointment strengthens Endless Jewelry’s global marketing team

New appointment strengthens Endless Jewelry’s global marketing team

Endless Jewelry has appointed Mikkel Berg as globa...

Hoover & Strong announces new Fairmined metal source

Hoover & Strong announces new Fairmined metal source

Currently sourcing Fairmined gold and silver from ...

Atlanta Jewelry Show ends 65th anniversary celebration with a flourish

Atlanta Jewelry Show ends 65th anniversary celebration with a flourish

August 2015 Edition Filled With New Resources, New...

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Lafonn ambassador and industry veteran, Taffy Davidson retires

(CYPRESS, Calif.) - Jewelry industry veteran and valued member of the Lafonn team, Taffy Davidson, is retiring. Taffy joined the Lafonn sales force in 2013 and was instrumental in growing the brand in the Midwestern United States.

In addition to her ti...

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Industry Events

Distinct points of view and a broad product range define JA New York Summer 2015

(NEW YORK) - The JA New York Summer show, held July 26 - 28th at the Jacob Javits Center, was host to an astounding breadth of product offerings in a serene and welcoming environment. Architectural or personalized pieces on display in the designer pav...

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On The Move

Findings manufacturer, American Jewelry Components opens in Detroit

(DETROIT, Mich.) - In the heart of Motor City, you’ll find a new jewelry manufacturing firm with an exceptional combination of skills and deep roots in the jewelry industry. A full-service jewelry manufacturer with a focus on high-volume die striking,...

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Bulova redefines technology with UHF

Bulova redefines technology with UHF

(NEW YORK) – Having debuted in Bulova Accutron II and the Precisionist collection, Bulova’s proprietary high performance UHF (Ultra High Frequency) movement is now being extended into its Sea King and Military collections.

The heart of the movement is ...

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Featured Articles

Diamonds ‘n Dunes delivers cosmopolitan style to the Outer Banks of North Carolina

Diamonds ‘n Dunes delivers cosmopolitan style to the Outer Banks of North Carolina

When Eileen Alexanian and Ken Kelley left New York City to vacation in the Outer Banks of North Carolina, they never expected it to be a life changing trip. But the husband and wife jewelry team, who’d worked in the heart of the New York Diamond Dist...

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Latest News

Lafonn ambassador and industry veteran, Taffy Davidson retires

17 HOURS AGO

(CYPRESS, Calif.) - Jewelry industry veteran and valued member of the Lafonn team, Taffy Davidson, is retiring. Taffy joined the Lafonn sales force in 2013 and was instrumental in growing the brand in the Midwestern United States.

In addition to her time with Lafonn, Ms. Davidson has served as a direc...

Readmore

Google wants you to be friendly

18 HOURS AGO

Are you responsive or just friendly? Sounds like a question for an online dating site - but not so fast. These expressions explain the performance of your website when viewing it on the widest array of devices.

Google recently announced that their algorithm had changed to reflect a website’s mobile f...

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Tracy Pearls founder, Tracy Bronson dies at 90

16 HOURS AGO

Henry (Tracy) Bronson, founder of Tracy Pearls, died on May 31, 2015. Bronson opened Tracy Pearls, a pearl importing and wholesaling company in 1960. He worked there until 2004 when he sold the company to Rebecca Shemwell. Tracy and Rebecca had been partners until she bought him out. Rebecca will be...

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ICA appoints Gary Roskin as Executive Director

17 HOURS AGO
ICA appoints Gary Roskin as Executive Director

(NEW YORK) - The International Colored Gemstone Association (ICA) is pleased to announce that well-known gems and jewelry expert Gary Roskin has been appointed as ICA Executive Director.

Mr. Roskin began in the new position on August 4 at ICA’s New York office. He is responsible for ICA’s day-to-day a...

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Findings manufacturer, American Jewelry Components opens in Detroit

17 HOURS AGO

(DETROIT, Mich.) - In the heart of Motor City, you’ll find a new jewelry manufacturing firm with an exceptional combination of skills and deep roots in the jewelry industry. A full-service jewelry manufacturer with a focus on high-volume die striking, American Jewelry Components, LLC. (AJC) formed ea...

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Jewelers of America announces Board elections & new Chairman

17 HOURS AGO

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has elected Ryan Berg, Market President of Lee Michaels Fine Jewelry in San Antonio, TX, as JA’s new Board Chairman. He succeeds Bill Farmer Jr., partner of Farmer’s Jewelry. Ber...

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Bulova redefines technology with UHF

17 HOURS AGO
Bulova redefines technology with UHF

(NEW YORK) – Having debuted in Bulova Accutron II and the Precisionist collection, Bulova’s proprietary high performance UHF (Ultra High Frequency) movement is now being extended into its Sea King and Military collections.

The heart of the movement is a three-prong quartz crystal producing a vibration...

Readmore

Jewelers Mutual announces coverage of smart jewelry

17 HOURS AGO

(NEENAH, Wis.) - In response to rising interest from smart jewelry owners looking to protect their investments, Jewelers Mutual Insurance Company announces its coverage of smart jewelry with the same worldwide personal jewelry insurance protection it offers for traditional jewelry.

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The Retailer’s Perspective: Will it be fine in 2009?

Man, if that's not the question of the day... or the century for that matter. With so much bad news being thrown at us every day it's hard to get a handle on things - until now. Oddly enough, in the middle of all of this craziness I made a startling discovery. I really had no idea how many recessions and economic downturns I've survived. All I can say is apparently I've had a hard life. Let me explain.
There have been 12 major recessions since 1940 and countless economic slowdowns. Only three have lasted more than a year; 1975, 1982, and today. As I look back on some of the significant moments in my life, I realized that times were hard back then too. The media is clamoring for sensationalism and everything has a statistic. So here are some stats of my own:

In 1984 I opened the trade shop I still own to this day. I just found out that the NASDAQ just had it's worst January since 1984. Huh? What was I thinking opening a business during the turmoil back then.

The auto industry just had it's worst year since 1985. That was the year I expanded my new trade shop. What was I thinking?

The unemployment report that just came out said that this was the worst jobs data since 1993. Damn. I bought my current store in 1993. Where was my head?

The DOW just suffered it's worst 12 month period since 1997. I did a major remodeling at my old store in 1997 and just finished remodeling my new one. Oops, missed that one too.

Now I just found out that ‘something or the other' hasn't been this bad since 2001. Huh? The last time I took a luxury vacation to Europe was in 2001. My bad.

In a nutshell, what I'm starting to realize is that it's never been easy to run your own business. It's just one challenge after another... after another... after another. Once this recession/depression cycle corrects itself, I'm going to have to deal with a whole new subset of problems. And then something after that. Me thinks it doesn't end.

Funny thing though, when I think back to when I was starting or expanding my business, I remember it being a struggle at the time, but it doesn't seem so bad now because NOW IS HARD! ‘Now' has always been hard.

Don't feel alone though, because no one alive has ever navigated through anything like this before. During the Great Depression there were no credit cards, no home equity loans, no sub-prime mortgages, and no FDIC to guarantee bank accounts. The FDIC is the very reason why we didn't have any runs on banks this time around which was one of the primary causes of the big one before. Many of the rules and regulations that are in place today were put in place to avoid another Great Depression. The one thing we didn't plan for - obsessive, uncontrolled greed on the financial system. We all know that's getting ready to change. When we all get on the other side of this event, we will have a much more stable system to operate within.

The one thing I'm noticing the most about this tough economic time is the fact I can't really plan anything farther in the future than 30-45 days because things are so crazy. I'm not making any plans for my 3rd and 4th quarter because nobody... and I mean nobody... can predict what the landscape will look like that far out.

There's an old saying that nothing happens until a sale is made. Once I make a sale, I order parts and supplies which in turn causes my suppliers to order more parts and supplies, etc. With the retailers at a literal standstill, the strain on the entire food chain is intense. So here‘s how I sum up this whole thing.

In 1990, during a short break from the jewelry business, I ran a film studio where our bookkeeper stole over a quarter of a million dollars from us. In all reality we should have shut it down, filed bankruptcy, and walked away. I was one of three managers at the studio and it just wasn't in any of our natures to do that. We worked our butts off for over a year to save the company (which is still in business today, thank you very much).

Out of that experience came a strange Friday afternoon ritual. Every Friday at the close of business, the three of us would meet in one of our offices and have a drink and a toast. The toast was always the same:

"Damn. We gotta come back to work on Monday!"

There was absolutely no chance to save the company and every day we thought would be our last, but somehow we managed to keep showing up every Monday. It was one of the hardest years of my life (yet another one mind you). Since then, every Friday, I raise the same toast to myself because since 1984 I've managed to keep my business alive and kicking.

Keep your head up and remember... it never gets any easier... ha ha. And, since today is Friday, I think I'm gonna do it early today:

"Damn... I gotta come back to work on Monday!"
Chuck is the owner of Anthony Jewelers in Nashville, TN. Chuck also owns CMK Co., a wholesale trade shop that specializes in custom jewelry and repair services to the jewelry industry nationwide. You can contact him at 615-354-6361, www.CMKcompany.com or send e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it..


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