Back To Basics: A Bailout For The DTC
January 22, 09 by Chaim Even-ZoharDTC Managing Director Varda Shine has approached the Competition Authorities in Brussels for approval to make important changes to SoC. The DTC has accepted constraints on its own ability to sell rough to avoid any possible abuse of dominant power. These constraints now seriously impair the DTC’s ability to sell its rough. Read More...
De Beers Staff: ‘Individuals at Risk’ – 25% Will Lose Jobs
January 15, 09 by Chaim Even-ZoharDe Beers’ London office will lay off 25 percent of its staff. As with every major undertaking at the organization, it has construed an elaborate “selection framework” within which selection activities related to this major downsizing in London is taking place. Read More...
A Time to Make Decisions
January 08, 09 by Chaim Even-ZoharAn Indian diamond manufacturer shared with me his decision to send a few thousand workers home and to supply throughout 2009 all existing clients from his inventory. He will review the situation within a year, and when the decision is made to restart manufacturing, he’ll need between two and three months to implement such a re-opening. Read More...
A Time to Make Decisions
January 08, 09 by Chaim Even-ZoharAn Indian diamond manufacturer shared with me his decision to send a few thousand workers home and to supply throughout 2009 all existing clients from his inventory. He will review the situation within a year, and when the decision is made to restart manufacturing, he’ll need between two and three months to implement such a re-opening. Read More...
Staying Clear of Industry Madoff-ization
January 01, 09 by Chaim Even-ZoharWhile my inbox is cluttered with many wishes for a better 2009, there is also an alarming pile of “bad news.” This latter category refers to the phenomenon where diamond dealers under stress and in pain decide to try to survive by deceiving and even defrauding their colleagues or their banks. Read More...
The Great Depression and Its Lessons for De Beers and Botswana
December 25, 08 by Chaim Even-ZoharDuring the holiday season we tend to reflect on events that have taken place thousands of years ago and rediscover their relevancy for present times. From a historical perspective, the diamond industry is still very young; its history is measured in decades or, at best, a few hundred years. Read More...
Zimbabwe KP Suspension will Lead to More Human Suffering
December 18, 08 by Chaim Even-ZoharThough we are generally supportive of the NGOs Global Witness and Partnership Africa Canada (PAC), their calls for the suspension of Zimbabwe from the Kimberley Process (KP) are totally misplaced and will only widen the suffering of the Zimbabwean people, while benefiting no one. Read More...
Crying for Zimbabwe
December 11, 08 by Chaim Even-Zohar“As a military helicopter hovered over the diamond fields of Chiadzwa in eastern Zimbabwe, police on horseback moved in with attack dogs to remove thousands of illegal diggers who had poured in, hoping to get rich. The diggers resisted, attacking the dogs with iron bars. The police opened fire from the helicopter, routing them. By the time it was all over, dozens lay dead.” Read More...
Arbitration in Absentia: Part 2
December 04, 08 by Chaim Even-ZoharDuring the present economic crisis, our collective (and journalistic) attention is so focused on the major issues that otherwise-also-important stories take a backseat. However, journalistic fairness requires us to follow up on a particular Diamond Dealers Club-related arbitration story we covered earlier this year. An arbitration proceeding in which a $641,736.23 judgment was handed against an Israeli diamantaire... Read More...
Little Appetite on This Thanksgiving
November 27, 08 by Chaim Even-ZoharWe are so preoccupied with “preserving consumer confidence” that in any situation we will flash a smile and assert that things are beautiful...that the diamond is forever. Read More...
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