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| Monday, 8-Nov-2010 05:21 |
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Pearl Jewelry - The Story of Pearl Hunters
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As long as pearl jewelry have been known to people, they have been a
highly sought commodity for their beauty. It's only in recent times
however that the industry has taken the hunt for the perfect pearl to
a whole different level. Today, the shiny orbs that we see on in
display in jewelry stores have actually almost always been grown in
farms.
That's a far cry from the dangerous extraction and collection methods
used before the invention of modern technology. In the past, not more
than 100 years ago, the only way to retrieve pearls was by diving in
lakes, floods and the ocean to pick them up, one at the time. The
unfortunate divers who'se job it was to do this, were often poor and
lured by the relative large sums they could get. The diver would
sometimes have to dive as deep as 100 feet on one single breath of
air. In order to preserve air and to stay submerged the longest, the
divers would hold on to heavy stones on the way down.
Naturally, this dangerous activity was reserved for the desperate or
the powerless - in many cases slaves or extremely poor peasents.
Today, this method is all but obsolete in most places of the world.
The cheaper cultured pearls have become popular and are many times
the only pearls available to the consumer.
There are however still a few isolated areas that practice this old
art of pearl diving. Some of the finest natural pearl speciments come
from the gulf of Bahrain. Here, divers still risk their health to
retrieve what are considered the top of the crop in the world. In
fact, Bahrain wants no part of the sale of cultured pearls, banned
from trade. Bahrain is one of the few places on earth that does an
active job in trying to preserve the natural habitat and waters from
pollution.
It's an interesting story and one that continues to fascinate buyers
around the world. Somehow, the beauty of the pearl grows when it's
been retrieved from the depth of the ocean.
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| Monday, 8-Nov-2010 05:18 |
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Buying Pearl Jewelry Without Being Ripped Off
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Buying pearl jewelry can be fun, exciting and confusing. Whether you're considering a gift of pearl jewelry for someone special or as a treat for yourself, take some time to learn the terms used in the industry. Here's some information to help you get the best quality pearl jewelry for your money, whether you're shopping in a traditional brick and mortar store or online.
Pearls
Natural or real pearls are made by oysters and other mollusks. Cultured pearls also are grown by mollusks, but with human intervention; that is, an irritant introduced into the shells causes a pearl to grow. Imitation pearls are man-made with glass, plastic, or organic materials.
Because natural pearls are very rare, most pearls used in jewelry are either cultured or imitation pearls. Cultured pearls, because they are made by oysters or mollusks, usually are more expensive than imitation pears. A cultured pearl's value is largely based on its size, usually stated in millimeters, and the quality of its nacre coating, which give it luster. Jewelers should tell your if the pearls are cultured or imitation. Some black, bronze, gold, purple, blue and orange pearls, whether natural or cultured, occur that way in nature; some, however, are dyed through various processes. Jewelers should tell you whether the colored pearls are naturally colored, dyed or irradiated.
Clams, oysters, mussels and many other mollusks with limy shells are known to produce pearls. But very few kinds yield gem pearls of jeweler's quality. The pearl is an abnormal growth of mother-of-pearl, or nacre, imbedded in the soft bodies of these shellfish. It is built up, layer upon layer, in the same way as nacre is added to the lining of the growing shell and always has the same color and luster. For example, over the country, hundreds of good-sized pearls are found each year in the oysters we eat. Unfortunately these have no commercial value regardless of whether they have been cooked or not because they are dull opaque white or purple like the shell of the parent oyster. In recent times almost all pearls of gem quality come from the oriental pearl oyster which has a bright shimmering translucent nacre.
A pearl starts growing when some irritating foreign substance such as a sand grain, bit of mud, parasite or other object becomes lodged in the shell-producing gland called the mantle. Pearls formed in the soft flesh where nacre can be added on all sides are most likely to be spherical and the most highly prized. By far the great majority are flattened or variously distorted and have little value. Size, color, luster and freedom from flaws are other essential qualities. Unlike other gems, such as diamonds, pearls have an average life of only about 50 years. In time the small amount of water in a pearl's make-up is lost and its surface cracks. Because they are mostly lime, necklaces which are worn often are injured by the acid secretions of the human skin.
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| Wednesday, 11-Nov-2009 05:20 |
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investors will understand that
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In general, he says, lenders are much more conservative and more cautious. "They want the business owners to contribute equity into the deal. They're doing more reference checking, asking for more collateral, such as wish pearl mortgages."
Certain sectors may have an easier time securing loans too. According to Wharton management professor Raffi Amit, online businesses featuring social networking and other Web 2.0 platforms are likely to be able to raise money faster and on better terms than other sectors. Online organizations will have an easier time "because in principle, they require much less cash so you will be cash flow neutral or positive after investing less capital," says Amit. "Just $200,000 or so pearl earrings can get you cash positive." Another sector with a better track record for securing loans is clean energy, primarily because the government is making it attractive by providing incentives in order to reduce emissions and energy dependency on other countries. "That's a priority for this administration and investors will understand that."
VentureSource data underscores Amit's assessment: "For the first time, Web 2.0 investments surpassed the software sector," the pearl earrings company said in a recent statement. "Although the IT recovery has been sluggish, this quarter's investments in the web-heavy information services sector are nearly double the investments made in the first quarter of this year."
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| Wednesday, 11-Nov-2009 05:19 |
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points up front. They will usually
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Though not easy to come by, angels might be a better source today than venture capital, where activity is down significantly, according to VentureSource, the Dow Jones database that tracks venture-backed companies in every industry. Offering some proof that recovery is tentative, an Oct. 17 VentureSource report said that, following an uptick in the second quarter, investments in
gemstone jewelry U.S. venture-backed companies stalled in Q3, "putting 2009 on track to be the worst investment year since 2003." Venture capitalists invested $5.1 billion in 616 deals in the third quarter of 2009, down 6% from the $5.4 billion placed into 595 deals during the second quarter and down 38% from the $8.2 billion invested in 663 deals during the third quarter of 2008.
Chalfin says there are other viable sources for small business financing, including credit cards, one of the largest lenders to small business. "The disadvantage is that the interest rates are very high. But the advantage is you can borrow. I've had people who needed to pearl jewelry wholesale finance their business, generally for a short period, and via credit cards they obtained liquidity for 30, 60 or 90 days." Yet in recent months credit card companies have been lowering credit limits and increasing interest rates. According to the Pew Safe Credit Cards Project, the freshwater perl jewelry median lowest advertised credit card rate rose to 11.99% in July from 9.99% in December.
Community banks provided more than half of all loans to small business this year, and presumably they will be more active if the president's latest proposal involving low-interest TARP funds gets approved. (For that program, "community banks" are defined as having less than $1 billion in assets). Community banks usually require a personal guarantee and ongoing monitoring, Chalfin notes. "They'll insist on looking at metrics of your fiscal soundness. They may have pre-payment penalties or charge points up front. They will usually insist on receiving copies of your financial statement and tax returns every year. And they'll want collateral." On the pearl earrings other hand, there are some clear advantages to working with community lenders. "They can provide more than money," Chalfin adds. "They can provide contacts. They can introduce you to people who may have industry expertise."
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| Wednesday, 11-Nov-2009 05:18 |
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Another source available to some businesses
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What are some other sources of financing for small businesses that might not qualify for an ARC loan through the SBA? According to pearl earrings Wharton's Flaherty, "One of the obvious opportunities is to look at micro-loan funds that typically lend up to $30,000. Micro-loan groups look beyond your personal credit, with more depth into your business." And many offer technical assistance to business owners to help them manage their debt and pay off their loans.
The SBA launched a microloan program in 1991 to provide loans of up to $35,000 to small businesses. The SBA makes funds available to nonprofit community-based lenders such as community development financial institutions, which make loans to local eligible borrowers with a term of no more than six years. Additionally, a handful of regional microloan programs exist across the freshwater perl jewelry U.S. For example, beer maker Samuel Adams recently partnered with micro-lender ACCĂON USA to help food, beverage and hospitality entrepreneurs in New England with loans ranging from $500 to $25,000 to expand or start a business, purchase inventory or equipment, or pay licensing fees.
Another source available to some businesses: angel investors. "Angels work with small startups with a great potential to return the angel's investment," Flaherty notes. "An angel often takes equity. It's very private. You have to wish pearl think about whom you are taking on as a business partner. At times, you can find a private investor who really cares about your business."
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| Wednesday, 11-Nov-2009 05:18 |
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According to Therese Flaherty
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Daystar Desserts secured its SBA-backed loan with 6% interest, saving an estimated $150,000 compared with what commercial banks would have charged. Additionally, Fernandez says, "We saved $9,000 in upfront fees." SBA 504 and 7(a) small business loans have been around for years (504 for commercial real estate and equipment; 7(a) for general purposes). But this year, under ARC, Congress asked the SBA to change the requirements by eliminating the upfront fee altogether and increasing the amount of the loan guaranteed from an average of 75% to pearl earrings around 90%. "Lifting the fee makes it easier for banks to lend," says Hayley Matz, an SBA spokesperson. Under the program, the average 504 loan is around $200,000. Now, President Obama wants to expand the 7(a) loan pool by tapping TARP money.
Swain says that ARC loans represent about a wish pearl quarter of all SBA programs. There have been 2,700 loans so far under ARC, with plans for 10,000 loans altogether after a ramp-up period. SBA-backed loans are made available through banks. As of September, the total volume of 504 and 7(a) loans approved was $1.92 billion, up from $1.09 billion in April. Pre-ARC, in August 2007, both loan groups totaled $1.94 billion--close to where it is today.
According to Therese Flaherty, director of the Wharton Small Business Development Center, banks won't generally give a company an SBA loan if they are comfortable doing it from their own funds. "SBA loans mean more paperwork for the banks." The SBA comes in, she says, "when a bank isn't quite ready to do the loan."
For Daystar Desserts, the process was "paperwork intensive," recalls Fernandez. "But a 504 loan is administered through development companies that partner with the SBA. ... The process was not simple. But by all pearl earrings means it was doable."
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| Wednesday, 11-Nov-2009 05:16 |
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banks and the real estate market
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One company's experience shows how a small business escaped the threat of insolvency with a timely liquidity injection. Ashland, Va.-based Daystar Desserts nearly went under because it could not get a gemstone jewelry loan. Toward the end of 2008, the company was obligated to buy a building it had been renting for five years from a company it acquired in 2003, according to CEO John Fernandez.
The building was valued at $2.4 million. Says Fernandez: "We had a good scenario. We'd been paying rent. We could show we had the ability to pay." However, the real estate market was plummeting and banks weren't lending--not even to fundamentally healthy companies such as Fernandez's. With 54 employees and about $15 million in annual revenues, Daystar was growing. And while its "financials weren't perfect, they were in good shape," Fernandez says. Still, three banks turned the company down. That transformed a seemingly viable situation into freshwater perl jewelry a life-or-death struggle for the business. The problem, he says, was the banks and the real estate market, not the company's balance sheet.
Help came in the form of an SBA 504 loan under America's Recovery Capital (ARC), the SBA's new program for small companies that was already in place before President Obama's announcement. According to Jonathan Swain, the SBA's assistant administrator for communications, "ARC is one small program, strictly for debt repayment, not for working capital--a one-time temporary program that Congress asked the SBA to round pearl create under the Recovery Act." Businesses can apply for these loans to pay off debt or to reorganize. "It's really a pearl earrings bridge loan," says Swain. "This is a unique program targeted to a specific kind of business owner--struggling, but viable."
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| Wednesday, 11-Nov-2009 05:16 |
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Among other positive signals
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Wharton lecturer and small business expert Robert Chalfin, for example, notes that "community banks are still lending. They have been active. They're in business to support their communities." According to the gemstone jewelry Bureau of Labor Statistics and the American Bankers Association, community bank loans to small businesses are only down slightly in 2009 to about $680 billion outstanding, from about $700 billion in 2007. Now, Chalfin says, even larger banks are becoming more active, if only marginally. "I'm getting many calls from the large national banks, saying, 'If you've got clients, we would like to talk with them about lending them money'--but they are not as quick to say 'yes.'"
According to the SBA, volume for its wish pearl loans is 60% or more above the exceptionally low levels reached during the January-February period this year, in part a result of easier SBA loan terms. Earlier this year, the SBA had come under fire for its low loan volume at a time when small businesses were facing enormous financial pressure, and some critics say that loans still tend to be available only for the most stable small businesses. But now, the Obama administration's proposal could open the tap to 70,000 additional SBA loans over the next year. The fragile economic recovery, meanwhile, is helping banks to improve their balance sheets and open their purse strings a bit more.
Among other positive signals: An October survey by the NFIB found the lending environment had improved slightly since May, and freshwater perl jewelry a Greenwich Associates survey found that earlier in the year, eight of the top 10 U.S. banks were more willing to lend in the second quarter of 2009 than in the first.
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