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Last updateTue, 21 Mar 2017 9pm
Jane Kirk appointed Executive Director of NC Jewelers Association

Jane Kirk appointed Executive Director of NC Jewelers Association

(RALEIGH, N.C.) - The North Carolina Jewelers Assoc...

GJA, AJA announce 2017 Convention dates

GJA, AJA announce 2017 Convention dates

The Georgia Jewelers Association (GJA) and Alabama...

Diamond shipping scam impacts 20-plus diamond wholesalers

Diamond shipping scam impacts 20-plus diamond wholesalers

Since November, an estimated 20 or more diamond ve...

Other News

Sierra Leone pastor finds 700+ carat diamond

Sierra Leone pastor finds 700+ carat diamond

An African church minister who supplements his meagre stipend by scrabbling for minerals in the artisanal mines of eastern Sierra Leonehas discovered one of the largest diamonds ever found.

The 709-carat stone was extracted this week by Emmanuel Momoh...

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Industry Events

Fourth edition of Hong Kong International Diamond, Gem & Pearl Show off to strong start

Fourth edition of Hong Kong International Diamond, Gem & Pearl Show off to strong start

Hong Kong International Jewellery Show opens today

The International Diamond, Gem & Pearl Show opened on February 28 and continues through March 4 at the AsiaWorld-Expo. This fourth edition of the show, organized by the Hong Kong Trade Development...

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On The Move

Belair Time Corp. names Chuck Goedtke Southeastern Sales Manager

Belair Time Corporation has announced the appointment of long-time watch industry veteran Chuck Goedtke to Southeastern Regional Sales Manager. Chuck will be covering Florida, Georgia, Tennessee, Alabama, Mississippi and Kentucky for Belair.

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What's New

ASHI launches 2017 Lovebright Collection Book

ASHI launches 2017 Lovebright Collection Book

ASHI is excited to launch the 2017 Lovebright Collection Book for all of their retail partners to share with their customers. ASHI reports the positive feedback they have received from their retailers, and the overwhelming desire to ignite and promot...

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Featured Articles

Bill Spencer talks jewelry, family and the secret to a successful 3rd generation family business

Bill Spencer talks jewelry, family and the secret to a successful 3rd generation family business

Seventy three years and three generations is a long time to operate a jewelry store. Especially when, according to a Jewelers Board of Trade statistic, over 1,500 jewelry business owners ceased operating in 2016. Yes, that includes wholesalers, manuf...

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Latest News

Sierra Leone pastor finds 700+ carat diamond

1 DAY AGO
Sierra Leone pastor finds 700+ carat diamond

An African church minister who supplements his meagre stipend by scrabbling for minerals in the artisanal mines of eastern Sierra Leonehas discovered one of the largest diamonds ever found.

The 709-carat stone was extracted this week by Emmanuel Momoh, a pastor in one of the myriad churches that mini...

Readmore

Rare emeralds expected to fetch millions at Guernsey’s

1 DAY AGO
Rare emeralds expected to fetch millions at Guernsey’s

(CNN) - Cleopatra wore them. Elizabeth Taylor loved them. Egyptians believed they could bring eternal life.

Though diamonds enjoy the reputation of being a girl's best friend, emeralds in fact are more rare -- and more valuable.

"Sought after for their rich color, regal history and identifiable look, ...

Readmore

GJA, AJA announce 2017 Convention dates

21 DAYS AGO
GJA, AJA announce 2017 Convention dates

The Georgia Jewelers Association (GJA) and Alabama Jewelers Association (AJA) have announced they will cohost their annual Convention on March 31- April 2. Now in its 9th year, the two state organizations will join forces at the Marriott Grand National Resort & Robert Trent Jones Golf Trail in O...

Readmore

Fourth edition of Hong Kong International Diamond, Gem & Pearl Show off to strong start

22 DAYS AGO
Fourth edition of Hong Kong International Diamond, Gem & Pearl Show off to strong start

Hong Kong International Jewellery Show opens today

The International Diamond, Gem & Pearl Show opened on February 28 and continues through March 4 at the AsiaWorld-Expo. This fourth edition of the show, organized by the Hong Kong Trade Development Council (HKTDC), welcomes more than 1,900 exhibit...

Readmore

Jane Kirk appointed Executive Director of NC Jewelers Association

21 DAYS AGO
Jane Kirk appointed Executive Director of NC Jewelers Association

(RALEIGH, N.C.) - The North Carolina Jewelers Association (NCJA) is pleased to announce the appointment of Jane Kirk as Executive Director, effective immediately. The Board’s action comes with the fullest confidence that Kirk will be an excellent steward of NCJA’s goals and an advocate for North Caro...

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Belair Time Corp. names Chuck Goedtke Southeastern Sales Manager

21 DAYS AGO

Belair Time Corporation has announced the appointment of long-time watch industry veteran Chuck Goedtke to Southeastern Regional Sales Manager. Chuck will be covering Florida, Georgia, Tennessee, Alabama, Mississippi and Kentucky for Belair.

Readmore

ASHI launches 2017 Lovebright Collection Book

8 DAYS AGO
ASHI launches 2017 Lovebright Collection Book

ASHI is excited to launch the 2017 Lovebright Collection Book for all of their retail partners to share with their customers. ASHI reports the positive feedback they have received from their retailers, and the overwhelming desire to ignite and promote their store’s diamond sales, has been extremely ...

Readmore

ASHI launches the I DO Bridal Sweepstakes

13 DAYS AGO
ASHI launches the I DO Bridal Sweepstakes

Announces winner of #LovebrightValentine Sweepstakes

(NEW YORK) - ASHI is excited to launch the I DO Bridal Sweepstakes, to kickoff the wedding season for its retail partners. Retailers will be able to attract bridal shoppers to their stores, through various social media platforms, and let every bride...

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Letters to Chuck

Thanks for the good news!

You're hired! The news has to find a negative spin to play up, apparently good news doesn't sell (take the 24/7 coverage of the latest hurricane non-event here in Miami). I'm glad to see someone covering the fact the there a portions of the economy that aren't affected by the price of gas. Our business is up 40% YTD (in sales and profits). Shout it from the rooftops - give the people confidence and this "recession" will end!
            Sandy Hequin
            Morays Jewelers
            Miami, FL

 

Business not good for all

Good morning Chuck,

Just finished reading your column and I had to write to give you the counterpoint to your statement that "business is good".

Maybe you can say that our depression (yes, I meant what I wrote, not the R word) is very localized, and I am sure that it is, but still very real to us. My store is in Durand, MI, very small with about 4,000 population, and located about 15 miles from Flint, MI and 30 from Lansing, MI. We are a bedroom community for GM workers, maybe half retired and the other half still working (sort of).

Our store is small, and our best year ever was 2000 with approximately 1/3M in sales. We have lost gross sales every year since, and I expect to maybe hit 50% of that total this year if I am lucky. August sales were down 65% from August of last year, and those totals were low. If we were not buying gold I would have had to close by now.

We have been in business for 29 years, and everything I own is tied up in this store. Do I see an end? Probably not anytime soon. GM is replacing their $28 per hour workers with $14 per hour people with limited benefits, so our middle class is beginning to disappear. Diamond sales are almost non-existent, and the only product we move are replacement mountings as they wear out.

Local unemployment rates are over 10%, every fourth house is being repossessed, and businesses are closing at an alarming rate. The good news? Still waiting for some.

            Have a good day,
            Jon Michael Fuja
            Durand, MI


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