Crime Pays… But Payback Time is Coming
January 05, 06 by Chaim Even-ZoharA few weeks ago, we expressed our genuine relief about the GIA court case settlement in New York. Our words turned out to have been slightly premature, since we wrote them well before becoming privy to the settlement details. It didn’t take much for our “relief” to turn into “disbelief” and, eventually, into plain “anger” - especially after being reliably informed that the GIA had... Read More...
EU Wants to Foster Anti-Cartel Popular Class Action Culture in Europe
December 29, 05 by Chaim Even-ZoharWhen De Beers agreed to pay some $250 million in damages to settle four rather frivolous class action cases in the United States, without, of course, admitting to any wrongdoing, they probably didn’t expect that this could become a powerful precedent for similar actions in Europe. Read More...
GIA Settlement Raises Some Questions About “Standards” – But The Court Case Is Over! (Revised)
December 22, 05 by Chaim Even-ZoharA respectable party close to the GIA, with his own agenda, called virtually all the major New York newspapers with a “scoop,” leaking a selective version of the GIA corruption scandal. The results ranged from front-page stories for two consecutive days in The Wall Street Journal, to a smaller item in The New York Times and gossip... Read More...
Corporate Diamond Interests Vs State Sovereignty in Botswana
December 16, 05 by Chaim Even-ZoharThe fundamental corporate interests of DTC Sightholders, the best national benefit of a diamond producer country, as well as those of De Beers don’t necessarily coincide. In fact, they seldom do. Botswana’s pleas for added value creation (i.e. the establishment of diamond factories) have traditionally been resisted by De Beers... Read More...
CRJP Is Picking the Wrong Fight
December 08, 05 by Chaim Even-ZoharYou really can’t call yourself a “promoter of ethical behavior in the jewelry supply chain” by fabricating irrational, inconsistent, factually wrong and actually quite weird arguments to exclude from membership companies that are active in the jewelry business and have an outstanding ethical record, but also sell some products the mainstream... Read More...
De Beers as the American Santa Claus
December 01, 05 by Chaim Even-ZoharFor Angelique, the "Diamond Dream" is coming true. Angelique (not her real name) is a kindergarten teacher in Madison County. She only paid $24 for diamond earrings at Wal-Mart, featuring two one pointers polished in Surat. Then she joined the class action that sues De Beers for defrauding the diamond jewelry consumer. Now it's Christmas time and she will probably be getting... Read More...
Antwerp’s New Policy Agenda
November 24, 05 by Chaim Even-ZoharThe Antwerp diamond industry is lobbying its government to extend the diamantaire’s “favorable tax regime” to the Belgian jewelry distribution sector. This aim was highlighted in a recent presentation given by HRD managing director Peter Meeus on Antwerp’s choices in a global world. “Our answer will determine whether our future is ahead or behind us,” he said. Extending the tax assessment system to the jewelry sector will enhance the likelihood of vertical... Read More...
Leviev’s Namibian Dilemma: Samicor Output Disappointing and Factory Has No Access to Local Rough
November 17, 05 by Chaim Even-ZoharAt the first International Diamond "Omgungo" meeting in Windhoek, where issues of development and value-creation opportunities in Namibia were discussed, Lev Leviev demanded that the Namibian government sell rough diamonds to him “at the same export price it gets paid by Namdeb” (which is the DTC’s Standard Selling Value minus 10 percent). Read More...
Rap’s GIA Connections
November 10, 05 by Chaim Even-ZoharRap has spoken. However, our initial joy turned into sadness when we realized that it would have been far better for Martin Rapaport’s reputation and image if he would have kept his silence on the GIA’s Bribery Scandal. The inconsistency in his logic, laudatory words and applause about the GIA all gave the impression of representing a “salute to the sponsor,” who is responsible for a substantial part of Rap’s... Read More...
Certified Profits
November 03, 05 by Chaim Even-ZoharLately, there are many questions about the “non profit” structure of the Gemological Institute of America. The organization’s president, William E. Boyajian, recently reflected on an internet website on the meaning of “non-profit” in the GIA context. We quote: “GIA is a public benefit corporation, governed by a board of industry, academic, and business leaders. In effect, we perform myriad functions that address public issues... Read More...
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