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Old GilbertZ

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How to succeed as a Diamond Monopoly without really trying. (DeBeers @ Wharton)
Quote this post and reply to it Post#1 @ 04-19-07 , 01:30 PM


Oops, got to run without time to comment yet. But this is fascinating. Check out this Wharton Article for now and I'll add some commentary later.

Enjoy.


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Re: How to succeed as a Diamond Monopoly without really trying. (DeBeers @ Wharton)
Quote this post and reply to it Post#2 @ 04-19-07 , 06:49 PM


from the article..
Quote:
"We are now operating as any other business," said Penny. And in a radical departure from its days of stockpiling billions of dollars worth of diamonds, "we now have two months' worth of stock, total. So from the time we mine something in the ground to [the time we] sell it to our clients, we have a couple of months in our pipeline, which we are very proud of."


Seriously?? Where did all the billions they've been stockpiling go.....someone's freezer??


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Re: How to succeed as a Diamond Monopoly without really trying. (DeBeers @ Wharton)
Quote this post and reply to it Post#3 @ 04-19-07 , 07:21 PM


No kidding. Talk about marketing. There's so much wrong with that article:
Quote:
Between 1989 and 1999, according to Penny, De Beers -- by now a "celebrated case study of a monopoly" -- failed to make a profit.


Yeah, being a multi billion dollar cartel ain't as easy as it used to be.


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Related: Cnn Money did a DeBeers story in 2001
Quote this post and reply to it Post#4 @ 04-19-07 , 09:10 PM


There are so many quotes worth analysing in that link:

Quote:
We are proud that the diamond industry is among the most regulated in the world."


Regulated? Meaning Self Regulated?
What happened with conflict diamonds should not have been allowed to happen. And the Kimberly Process is a response to bad PR, not concern for human life.

Ironically:

Quote:
Business analysts for years have suggested that the conflict diamond controversy turned out to be advantageous to De Beers. In August 2000, The New York Times reported that "human rights groups were accusing [De Beers] of buying illicit diamonds from African rebels and rulers who used the proceeds to help pay for their wars. The essential mystique of its product, nurtured over decades of artful image-building and brawny cartel management, seemed threatened by association with these so-called blood diamonds." Faced at the time with a dwindling share of the world's diamond market, De Beers elected to become what the Times called a "squeaky-clean crusader for guarantees across the industry that 'conflict diamonds' ... be kept out of the world of luxury goods."


Anyway, when you're done with the first link, I don't remember seeing this story back when it came out in Feb 2001, but it looks quite detailed...
http://money.cnn.com/magazines/fort...96863/index.htm

Quote:
The De Beers Story: A New Cut On An Old Monopoly THE COMPANY THAT HAS RULED DIAMONDS FOR A CENTURY WANTS TO POLISH ITS IMAGE...AND DOMINATE AS NEVER BEFORE.


If you wandered through Trafalgar Square on the morning of Sept. 27, past the weathered stone columns of St Martin-in-the-Fields, you might have been surprised to see a group of bearded, black-hatted Orthodox Jews standing outside the venerable Anglican parish church. Though their religious beliefs prevented them from entering, they had traveled to London from the diamond districts of New York, Antwerp, and Tel Aviv to pay tribute to Harry Oppenheimer--the former chairman of De Beers and architect of a diamond empire stretching from the southern tip of Africa to the frozen Siberian tundra.

Inside, the Reverend Nick Holtam conducted a memorial service for Oppenheimer, who had died a few weeks earlier at the age of 91. As the strains of Bach wafted through St Martin, luminaries of British society and the diamond world crowded into the wooden pews. Margaret Thatcher sat gravely in one pew. Nearby was Maurice Templesman, chairman of diamond firm Lazare Kaplan and longtime companion of Jacqueline Kennedy Onassis.



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