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Morganite: The modern face of jewelry

Morganite: The modern face of jewelry

Trends come and go as quickly as the seasons. Much...

Retailer Roundtable: What was your best store promotion?

Retailer Roundtable: What was your best store promotion?

Q: What was your best store promotion?

“For a numbe...

Retailer Roundtable: How do you manage your store’s social media?

Retailer Roundtable: How do you manage your store’s social media?

Q: How do you manage your store’s social media?

“We...

Russell Mefford - Jeweler by day, Southern Rocker by night

Russell Mefford - Jeweler by day, Southern Rocker by night

If you’re a Southern rock fan you know the differe...

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Staged kidnapping ploy to rob jeweler results in two deaths

Staged kidnapping ploy to rob jeweler results in two deaths

LAS VEGAS (KSNV News3LV) — Henderson police say a Las Vegas man was arrested Tuesday morning in connection with the double homicide of two men.

38-year-old Brian Kleynen was arrested at his Las Vegas apartment and taken into custody without incident j...

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Industry Events

Golden Triangle Shows announces new event in Kansas City

Golden Triangle Shows announces new event in Kansas City

The Golden Triangle Show, organizers and managers of regional business to business trade shows, has announced it is opening a new market in Kansas City, Missouri. To be held September 24-26 at the KCI Expo Center, the new show “is geared to serve the...

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On The Move

ASHI Diamonds appoints Ash Shah, CG, as Director of Business Development

ASHI Diamonds appoints Ash Shah, CG, as Director of Business Development

(NEW YORK) - ASHI Diamonds is pleased to announce the addition of Ash Shah, CG, as their Director of Business Development. Ash’s appointment is part of ASHI’s marketing and expansion strategy that will enable it to better serve the independent jeweler...

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What's New

JVC releases “Getting It Right JVC’s Guide to Quality Programs for Jewelers”

(NEW YORK) - JVC has announced the publication of its latest guide - “Getting It Right – JVC’s Guide to Quality Programs for Jewelers” - published with a generous grant from International Gemological Institute (IGI).

The latest publication from the JVC...

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Featured Articles

Revering a retiring patriarch, new generation at Ohio’s Leo Alfred Jewelers embraces simple recipe for success

Revering a retiring patriarch, new generation at Ohio’s Leo Alfred Jewelers embraces simple recipe for success

What makes Leo Alfred Jewelers in Dublin, Ohio, a special place? It’s a poignant subject these days. Tom Laudick, who has been in the jewelry industry for much of his life, retires this year but leaves an indelible mark on the next generation.

“Every ...

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Latest News

Staged kidnapping ploy to rob jeweler results in two deaths

11 HOURS AGO
Staged kidnapping ploy to rob jeweler results in two deaths

LAS VEGAS (KSNV News3LV) — Henderson police say a Las Vegas man was arrested Tuesday morning in connection with the double homicide of two men.

38-year-old Brian Kleynen was arrested at his Las Vegas apartment and taken into custody without incident just before noon.

The homicide happened on April 12 ...

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JA fights for jewelers on Capitol Hill

11 HOURS AGO
JA fights for jewelers on Capitol Hill

Association continues to promote industry policy positions through meetings, fund raisers and other activities

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has ramped up advocacy efforts in Washington, D.C. Recent activities...

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Golden Triangle Shows announces new event in Kansas City

11 HOURS AGO
Golden Triangle Shows announces new event in Kansas City

The Golden Triangle Show, organizers and managers of regional business to business trade shows, has announced it is opening a new market in Kansas City, Missouri. To be held September 24-26 at the KCI Expo Center, the new show “is geared to serve the greater multi state region,” says show director B...

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August Atlanta Jewelry Show to spotlight coming trends, new designs, preview 2017 Show enhancements

12 HOURS AGO
August Atlanta Jewelry Show to spotlight coming trends, new designs, preview 2017 Show enhancements

(ATLANTA) - When jewelers arrive for the August 6-8, 2016 Atlanta Jewelry Show at the Cobb Galleria, they’ll find a welcoming and enjoyable show experience that has defined the show throughout its history. Brand new resources, an easy-to-work floorplan, pre-show breakfast, AJS U educational offerings...

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ASHI Diamonds appoints Ash Shah, CG, as Director of Business Development

11 HOURS AGO
ASHI Diamonds appoints Ash Shah, CG, as Director of Business Development

(NEW YORK) - ASHI Diamonds is pleased to announce the addition of Ash Shah, CG, as their Director of Business Development. Ash’s appointment is part of ASHI’s marketing and expansion strategy that will enable it to better serve the independent jewelers in the United States.

Readmore

Cecilia Gardner’s role at JVC to change in 2017

3 DAYS AGO

(NEW YORK) - The Jewelers Vigilance Committee (JVC) has announced that Cecilia Gardner, CEO/President and General Counsel, has decided to step down from her role as CEO/President at the beginning of 2017, after the planned celebration of JVC’s 100th year.

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JVC releases “Getting It Right JVC’s Guide to Quality Programs for Jewelers”

3 DAYS AGO

(NEW YORK) - JVC has announced the publication of its latest guide - “Getting It Right – JVC’s Guide to Quality Programs for Jewelers” - published with a generous grant from International Gemological Institute (IGI).

The latest publication from the JVC provides simple and useable tools for all jeweler...

Readmore

TW Steel’s new Maverick Collection adds attitude to the sport heritage world

3 DAYS AGO
TW Steel’s new Maverick Collection adds attitude to the sport heritage world

TW Steel is shaking up Father Time in 2016, launching the adventurous Maverick Collection. Inspired by the ground-breaking Son of Time masterpiece, the Maverick Collection takes TW Steel’s bold attitude, blends in cool vintage styling and twists it all together to deliver a totally fresh take on tim...

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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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