04262017Wed
Last updateWed, 19 Apr 2017 8am
Stuller, Inc. wraps up annual Bench Jeweler Workshop

Stuller, Inc. wraps up annual Bench Jeweler Workshop

Jyothi Forman walks away with overall win

(LAFAYETT...

Libby Brown named new Executive Director of Atlanta Jewelry Show

Libby Brown named new Executive Director of Atlanta Jewelry Show

Carol Young steps down after 20 years  

(ATLANTA) - T...

Retailer Roundtable: What was your most successful Mother’s Day promotion?

Retailer Roundtable: What was your most successful Mother’s Day promotion?

Q: What was your most successful Mother’s Day prom...

Other News

Colucci Jewelers owner charged with murder

Colucci Jewelers owner charged with murder

2 nd tragedy to strike family in last 2 years

A Summerville, SC family well-known for their dealings in the jewelry industry throughout Flowertown and North Charleston faced another tragedy Friday after a fatal shooting, according to North Charleston po...

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Industry Events

New jewelry show planned for Midwest

New jewelry show planned for Midwest

New Horizons Jewelry Show to be held August 19-21

Jewelry manufacturers, retailers and other industry professionals will come together for the launch of a new event this August in Columbus, Ohio. “The New Horizons Jewelry Show is the only show serving...

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On The Move

Jewelers of America expands IDEX partnership

Jewelers of America expands IDEX partnership

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has expanded its partnership with IDEX, the International Diamond Exchange.

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What's New

Gemvision launches new version of Matrix® and Clayoo software

Gemvision launches new version of Matrix® and Clayoo software

(LAFAYETTE, La.) - Gemvision, part of the Stuller family of companies, is pleased to now announce the release of a new version of their award-winning software, Matrix 9.0 and Clayoo 2.5.

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Featured Articles

Great American Pearl Rush: Wisconsin dealer fascinated by colorful past of his treasured

Great American Pearl Rush: Wisconsin dealer fascinated by colorful past of his treasured

Norman Lange, owner of M. Lange Co. in Oconomowoc, Wis., knows pearls. He’s been trading in the natural gems for half a century, living and traveling overseas in search of them - but it’s 19th century America that he finds really interesting.

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Latest News

Colucci Jewelers owner charged with murder

6 DAYS AGO
Colucci Jewelers owner charged with murder

2 nd tragedy to strike family in last 2 years

A Summerville, SC family well-known for their dealings in the jewelry industry throughout Flowertown and North Charleston faced another tragedy Friday after a fatal shooting, according to North Charleston police.

Readmore

Gold’s found a new pocket of opportunity

6 DAYS AGO
Gold’s found a new pocket of opportunity

"Don't gain the world and lose your soul; wisdom is better than silver or gold."

You may have to read the quote more than once, but Bob Marley knew what he was talking about.

At the moment, investors seemingly disagree a bit with him, and they have pushed spot gold up around 8 percent higher since the...

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New jewelry show planned for Midwest

13 DAYS AGO
New jewelry show planned for Midwest

New Horizons Jewelry Show to be held August 19-21

Jewelry manufacturers, retailers and other industry professionals will come together for the launch of a new event this August in Columbus, Ohio. “The New Horizons Jewelry Show is the only show serving the Midwest and will feature more than 250 booths...

Readmore

IAC announces 7th annual Gold Conference - “Creativity, Community & Collaboration”

13 DAYS AGO
IAC announces 7th annual Gold Conference - “Creativity, Community & Collaboration”

April 26 - April 28, 2017 

(NEW YORK) - Initiatives in Art & Culture (IAC) announced the agenda for its Seventh Annual Gold Conference, entitled "Creativity, Community & Collaboration," taking place April 26-28, 2017. Presentation highlights include:

  • "Transforming Retail," a conversation with An...

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Jewelers of America expands IDEX partnership

6 DAYS AGO
Jewelers of America expands IDEX partnership

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has expanded its partnership with IDEX, the International Diamond Exchange.

Readmore

Libby Brown named new Executive Director of Atlanta Jewelry Show

12 DAYS AGO
Libby Brown named new Executive Director of Atlanta Jewelry Show

Carol Young steps down after 20 years  

(ATLANTA) - The Atlanta Jewelry Show is pleased to announce the promotion of Libby Brown from Assistant Executive Director to Executive Director. Libby assumes the role from Carol Young, who held that position for the past 20 years.

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Gemvision launches new version of Matrix® and Clayoo software

6 DAYS AGO
Gemvision launches new version of Matrix® and Clayoo software

(LAFAYETTE, La.) - Gemvision, part of the Stuller family of companies, is pleased to now announce the release of a new version of their award-winning software, Matrix 9.0 and Clayoo 2.5.

Readmore

GIA demonstrates prototype mounted gem testing device

6 DAYS AGO
GIA demonstrates prototype mounted gem testing device

New accessibly-priced instrument to be available in late 2017

(CARLSBAD, Calif.) - GIA (Gemological Institute of America) has announced it will introduce for sale later this year an easy-to-operate, sophisticated desktop instrument to reliably identify natural diamonds, separating them from all simula...

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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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