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Last updateWed, 20 Sep 2017 7am
Remembering Janel Russell, creator of Mother and Child Jewelry

Remembering Janel Russell, creator of Mother and Child Jewelry

Motherhood defined much of Janel Russell’s life, b...

Jewelers’ affidavit reduces selling scams

Jewelers’ affidavit reduces selling scams

More than six years ago, a former employee targete...

Other News

Forbes reports trillions of dollars of gold contained in earth’s oceans

Forbes reports trillions of dollars of gold contained in earth’s oceans

Good luck getting it

In search of gold? Looking for the next gold rush? The oceans are a good place to look, however, it's not as easy as panning for gold.

Ocean waters around the world contain about 20 million tons of gold in them. When I say "in" tha...

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Industry Events

WJA Jewelry Night Out 2017 to host events in 25 cities on Sept. 14

WJA Jewelry Night Out 2017 to host events in 25 cities on Sept. 14

(POUGHKEEPSIE, N.Y.) - The Women’s Jewelry Association (WJA) will host its fifth annual WJA Jewelry Night Out on Thursday, Sept. 14, 2017. The festivities will kick off in the early evening in 25 cities throughout the United States: Atlanta, GA; Austi...

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On The Move

Tom Cook Jeweler celebrates 125-year milestone

Tom Cook Jeweler celebrates 125-year milestone

Florida retailer announces 125 Days of Celebration

(DAYTONA BEACH, Fla.) – There are not many businesses in Daytona Beach, FL over 100 years old, let alone 125, but that’s what Tom Cook Jeweler is celebrating this year. The jewelry retailer has announc...

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What's New

ASHI introduces responsive version of I DO Collection micro-website

ASHI introduces responsive version of I DO Collection micro-website

Free micro-website designed to help you maximize bridal sales

(NEW YORK) - ASHI is delighted to announce the latest release of the responsive version of the I DO Collection Bridal Store micro-website. If you have an existing I DO Collection micro-websi...

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Featured Articles

Masters of Marketing - A century of sparkling insight - Part 3

Masters of Marketing - A century of sparkling insight - Part 3

Part III - Richter & Phillips, Cincinnati, OH

As W.C. Fields once famously said, “It ain’t what they call you, it’s what you answer to.”

Since its settlement in 1788, the city of Cincinnati has been called many things; “Queen City of the West,” the...

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Latest News

Forbes reports trillions of dollars of gold contained in earth’s oceans

1 DAY AGO
Forbes reports trillions of dollars of gold contained in earth’s oceans

Good luck getting it

In search of gold? Looking for the next gold rush? The oceans are a good place to look, however, it's not as easy as panning for gold.

Ocean waters around the world contain about 20 million tons of gold in them. When I say "in" that is meant literally, there is gold in ocean water...

Readmore

Jewelers for Children announces 2017 Hope for the Holidays Program

1 DAY AGO
Jewelers for Children announces 2017 Hope for the Holidays Program

Hallmark produces cards designed by Make-A-Wish® children  

Jewelers for Children (JFC), the industry’s charity, has unveiled their 2017 Hope for the Holidays program. The program includes holiday greeting cards produced by Hallmark from the designs of children representing Make-A-Wish® America. The p...

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WJA Jewelry Night Out 2017 to host events in 25 cities on Sept. 14

15 DAYS AGO
WJA Jewelry Night Out 2017 to host events in 25 cities on Sept. 14

(POUGHKEEPSIE, N.Y.) - The Women’s Jewelry Association (WJA) will host its fifth annual WJA Jewelry Night Out on Thursday, Sept. 14, 2017. The festivities will kick off in the early evening in 25 cities throughout the United States: Atlanta, GA; Austin, TX; Birmingham, AL; Boston, MA; Chicago, IL; Da...

Readmore

RJO members buy with “Mile High Style”

28 DAYS AGO
RJO members buy with “Mile High Style”

Another successful Buying Show for RJO means big benefits for members

(DENVER) - In early August, the Retail Jewelers Organization (RJO) brought together over 1,200 members and vendors for their semi-annual buying show. This year’s theme was Mile High Style, and it was one to remember.

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Tom Cook Jeweler celebrates 125-year milestone

1 DAY AGO
Tom Cook Jeweler celebrates 125-year milestone

Florida retailer announces 125 Days of Celebration

(DAYTONA BEACH, Fla.) – There are not many businesses in Daytona Beach, FL over 100 years old, let alone 125, but that’s what Tom Cook Jeweler is celebrating this year. The jewelry retailer has announced plans to recognize its milestone with 125 Days ...

Readmore

24 Karat Club SEUS announces new officers, board of directors

15 DAYS AGO
24 Karat Club SEUS announces new officers, board of directors

The 24 Karat Club Southeastern United States introduced their new officers and board of directors at their forty-third annual Banquet in August at the Atlanta Country Club. Leading the organization for the next two years are:

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ASHI introduces responsive version of I DO Collection micro-website

1 DAY AGO
ASHI introduces responsive version of I DO Collection micro-website

Free micro-website designed to help you maximize bridal sales

(NEW YORK) - ASHI is delighted to announce the latest release of the responsive version of the I DO Collection Bridal Store micro-website. If you have an existing I DO Collection micro-website then the responsive update with new theme and o...

Readmore

Authentic Gem Imports new website offers instant prices, details, over 10,000 product pictures

7 DAYS AGO
Authentic Gem Imports new website offers instant prices, details, over 10,000 product pictures

With a new powerhouse website ( www.shopagi.com ) that offers a comprehensive search database of over 6,000 certified loose diamonds, calibrated melee, ear-studs, tennis bracelets, gemstones, pearls, semi-mounts and finished jewelry, Authentic Gem Imports (AGI) is ready to take the custom jewelry busi...

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Furry friends on the job: Waylon - Michael’s Jewelry in Fremont, Nebraska

1 DAY AGO
Furry friends on the job: Waylon - Michael’s Jewelry in Fremont, Nebraska

This is Waylon the golden retriever. Every day Waylon gets to go to work at Michael’s Jewelry in Fremont, Nebraska.  He is less than a year old, and currently serving as an intern in the customer service department. Let’s all wish Waylon a long and fruitful career in the jewelry industry!

See all our...

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Furry friends on the job: Aggie - Gerberman Jewelers, El Campo, Texas

7 DAYS AGO
Furry friends on the job: Aggie - Gerberman Jewelers, El Campo, Texas

Meet Aggie the cocker spaniel. Aggie serves as the guard dog at Gerberman Jewelers in El Campo, Texas. She joins Ben Gerberman every day at Gerbermans where she also loves to greet all the customers and usually gets a belly rub from them! Both of Ben’s sons went to Texas A&M University - that ma...

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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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