04282017Fri
Last updateTue, 25 Apr 2017 11pm

Other News

PGI takes a look at breathtaking and iconic platinum engagement rings

PGI takes a look at breathtaking and iconic platinum engagement rings

Royalty and Hollywood celebrities are known for gifting their betrothed with the most opulent and exquisite platinum engagement rings. From Queen Elizabeth’s solitaire diamond to Elizabeth Taylor’s 29.4-carat diamond, these baubles were all set in pl...

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Industry Events

Jewelers for Children to celebrate 5th annual Rings of Strength

Jewelers for Children to celebrate 5th annual Rings of Strength

The fifth edition of the popular Jewelers for Children Rings of Strength will be held on Sunday, June 4, at Mandalay Bay Resort Casino in Las Vegas, NV.  The very popular event includes options for a 5K walk or run, a 50K challenging bike ride in the...

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On The Move

Kim International appoints new Sales Manager for Midwest region

Kim International appoints new Sales Manager for Midwest region

Kim International Manufacturing, L.P. is pleased to announce that Bill Reilly has been appointed as their new Upper-Midwest Region Sales Manager. He will be covering the states of Minnesota, Iowa, Wisconsin, North and South Dakota. Bill brings 30 plu...

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What's New

Gesswein introduces the PUK4c welder with SM03 Scope

Gesswein introduces the PUK4c welder with SM03 Scope

The PUK4c precision welder is a compact and versatile TIG impulse welder. Fine and minute welds are carried out under a 10x welding microscope (SM03 Microscope). Very close to laser welding, the PUK4c allows the exact positioning of small, stable spo...

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Featured Articles

Stuller, Inc. wraps up annual Bench Jeweler Workshop

Stuller, Inc. wraps up annual Bench Jeweler Workshop

Jyothi Forman walks away with overall win

(LAFAYETTE, La.) - Stuller hosted their annual Bench Jeweler Workshop this past weekend welcoming more than 200 jewelers from across the country to its global headquarters in Lafayette, Louisiana.

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Latest News

PGI takes a look at breathtaking and iconic platinum engagement rings

2 DAYS AGO
PGI takes a look at breathtaking and iconic platinum engagement rings

Royalty and Hollywood celebrities are known for gifting their betrothed with the most opulent and exquisite platinum engagement rings. From Queen Elizabeth’s solitaire diamond to Elizabeth Taylor’s 29.4-carat diamond, these baubles were all set in platinum, a highly secure setting for their valuable...

Readmore

Origin of gold stash found in piano remains a mystery

2 DAYS AGO
Origin of gold stash found in piano remains a mystery

LONDON (AP) —  British officials say they've been unable to trace the rightful heirs to a trove of gold coins found stashed inside a piano and worth a "life-changing" amount of money.

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Jewelers for Children to celebrate 5th annual Rings of Strength

2 DAYS AGO
Jewelers for Children to celebrate 5th annual Rings of Strength

The fifth edition of the popular Jewelers for Children Rings of Strength will be held on Sunday, June 4, at Mandalay Bay Resort Casino in Las Vegas, NV.  The very popular event includes options for a 5K walk or run, a 50K challenging bike ride in the scenic foothills of Red Rock Valley, or a street ...

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New jewelry show planned for Midwest

16 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...

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Kim International appoints new Sales Manager for Midwest region

2 DAYS AGO
Kim International appoints new Sales Manager for Midwest region

Kim International Manufacturing, L.P. is pleased to announce that Bill Reilly has been appointed as their new Upper-Midwest Region Sales Manager. He will be covering the states of Minnesota, Iowa, Wisconsin, North and South Dakota. Bill brings 30 plus years of experience calling on the independent j...

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Jewelers of America expands IDEX partnership

9 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.

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Gesswein introduces the PUK4c welder with SM03 Scope

2 DAYS AGO
Gesswein introduces the PUK4c welder with SM03 Scope

The PUK4c precision welder is a compact and versatile TIG impulse welder. Fine and minute welds are carried out under a 10x welding microscope (SM03 Microscope). Very close to laser welding, the PUK4c allows the exact positioning of small, stable spot-welds or welds in hard-to-get-to or deep lying p...

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Ed Levin Jewelry introduces Summer Dance Collection

2 DAYS AGO
Ed Levin Jewelry introduces Summer Dance Collection

(CAMBRIDGE, N.Y.) - Ed Levin Jewelry, shaping American design since 1950®, invites you to get in a summer mood with Summer Dance, Ed Levin Jewelry’s latest collection of new designs.

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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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