diamond 51 districtdiamonddistrict.org/files/ddm_51_v3.pdfif you are contemplating starting a blog...

D IA M O ND D I S T R I C T

MONTHLYVol.51August 2014

51

47th St. BID AnnuAl MeetIngMonday Oct. 6, 2014, 9:30 AMMcGraw Hill Center - 2nd FloorAvenue of the Americas, Between 48th & 49th St., 49th St. Entrance

Save The

DaTe

Continued on page 8

BID Seminar - Safety & Security For Jewelers - Part 1

Recently, I attended the opening of the 9/11 Museum. The experience was harrowing and sum-moned many feelings: loss, pain, and sorrow, but also hope and pride. New York has a resiliency like no other place in the world. As difficult as that day was, we managed to get back on our feet. We did so by helping one another; and, in Congress, by pass-ing laws aimed at helping the post-9/11 recovery.

One such law was the Terrorism Risk Insur-ance Act (TRIA), signed into law in 2002. In the aftermath of the attacks, businesses, developers, and property owners struggled to rebuild. One major hurdle was the lack of affordable property and casualty insurance that would cover losses resulting from another terrorist event. Private

insurers refused to offer terrorism coverage. You couldn’t buy insurance for a hotdog stand, much less a major development project in Manhattan. Construction projects stalled across the country and thousands of jobs were lost.

Congress went to work. In the bipartisan spirit that existed post-9/11, my colleagues and I worked together to pass TRIA. As we all know, it’s rare for Congress to pass a bill that ends up doing exactly what we intended it to do, and at no cost to the federal government. Yet that is

precisely what TRIA has done — it has ensured that businesses have access to terrorism risk insurance for over a decade, and

Terrorism Risk Insurance Act Still Needed BY CONgRessWOMAN CAROlYN B. MAlONeY (NY-12)

The branch office of Metropolitan National Bank, located at 46th Street between 5th and 6th Avenues, hosted a 47th Street BID Seminar sponsored by Secure Watch 24 where Officer Kurt Jones, of the NYPD’s MidTown North Precinct, talked about safety and security for jewelers. He began his talk with general safety items that apply to everyone and ended with a few safety tips for jewelers.

1. ATM SAfeTy A) Pay attention to your surroundings.B) When entering the ATM lobby during off hours, try to use

a different card other than the one being used to withdraw money. This way, if there is a card “skimmer” on the door, it will not match the pin number being used on the machine.

C) give the card reader on the ATM machine a tap and a pull to make sure it belongs on that machine.

D) If there are multiple machines in the vestibule, take a look to see if the other card readers look the same as the one you are about to use.

e) If you notice something different about a machine, bring it to

Continued on page 8

Illegal skimmer removed from ATM

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New York State Internet Sales Tax

Decision Affirmed By United States Supreme Court Declination To Review

The United states supreme Court voted not to take for judicial re-view a New York Court of Appeals decision which required Inter-

net retailers to collect sales taxes even if they have no physical presence in New York. Consistent with its regular practice, the United states supreme Court disclosed no reason for its decision to not hear this case. The case which was before the court concerned two internet retailers which had challenged a 2008 New York law requiring online companies to collect sales taxes on purchases made by New York residents. This New York state law is intended to equalize the competitive advantages and place online companies on an equal footing with companies having a physical presence due to affiliated independent New York-based websites that linked to the online companies in return for a commission payment.

LegisLative Update

DIAMOND DISTRICT MONTHLY 580 5th Avenue, Suite 323

New York, NY 10036

Michael Grumet, Publisher [email protected]

O.O. Barrett, Editor

Natalia Cheviakova, Administrative Director [email protected]

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P: 212-302-5690 F:212-302-7835

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The Diamond District Monthly is published monthly by the 47th Street

Business Improvement District.

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ExEcutivE committEEHarvey Nagin – Nagin JewelryPresidentSteven Grauer – Gold Art 18 Kt LLc Chairmanmichael toback – myron toback inc.Vice ChairmanDennis marlow – Solitaire creations SecretaryRobert Hadi – ABS Partners Real Estate, LLcTreasurer Richard Winick – manny Winick & SonKen Kahn – KenArt RealtiesRichard Friedman – i. Friedman & SonsRonnie vanderLinden – Diamex inc.Jeffrey mordekai – Petra Jewelers

BoARD mEmBERSS. David Belsky – S.D.Belsky AssociatesChair Audit Committee Jay Holzer – Dyckmans chris ipek – Altin RealtyRaizy Haas – Extell Development corp.Lucy orozco – valley National Bank matt Selig – Leo ingwerJohn Kocak – unique SettingsYale Zoland – Zoland’sDanielle Azeroual – Premier RealtyAdnan Aydin - Futurama Jewelry ExchangeJack Elo – the Elo Groupmoris Yero Shalmi – ABcmarc Beznicki – Kingmark JewelersAlon mor – mor DiamondsJules Fleischer – Jewelry by Alexander Sammy Abramov – AA Pearlmichael oistacher – manhattan Gold & Silverisaac chetrit – Yadidi GroupSunny Yung – central management corp.memhet Gulay – city Property DevelopmentAdam Abramson – Abramson Brothers

Bill de Blasio – mayorScott Stringer – New York city comptroller Gale Brewer – manhattan Borough President Daniel Garodnick – council memberJohn Glaister – ResidentReuven Kaufman – Diamond Dealers club

StAFFmichael Grumet – Executive DirectorNatalia cheviakova – Administrator Director

AUGUST 2014 DIAMOND DISTRICT MONTHLY 5 5


Should Jewelers Blog?

The online social media age that has bought us Facebook. Instagram, Pinterest, google+ and Twitter actually began

back in the late 90’s when the term “blog”, short for “weblog”, entered popular culture. since then blogging has expanded exponentially as a means of communication for small business owners. In May 2005 Business Week proclaimed that “Blogs Will Change Your Business.” They most assuredly have.

Why Are blogS iMporTAnT for your jeWelry buSineSS?Blogs provide small business owners with an unprecedented of engaging with large audiences in a way that the traditional one-way information dispersion from a company’s Web site could never accomplish. Blogs can help put a human face to your business while showcasing your knowledge and passion for your field. Unlike the static content of a business Web site, blogs are collaborative and invite comment. This is a great way to engage with and solicit feedback from your customers!

Blogs can even be lead generating. If you can create content that’s relevant and useful to your audience, your search engine optimization expand tremendously.

If you are contemplating starting a blog you need to have an underlying strategy in place to ensure it is a success. Here are four things to consider before you enter the blogosphere:1. Identify: A Goal, Purpose, and Intention for your BlogIt’s obvious you want to promote your business but don’t be over-self promotional in your blog content. Decide early on what you want to accomplish with your blog - and this should drive your content.

Most blogs are positioned to portray business owners as leaders in their specialty or share information that readers find useful. Once you have defined your goal, be sure to keep to it. Consider publishing your blog objective on your blog home page. For example, the objective of a hypothetical company - ABC

Pearls - might be to provide tips that help consumers become knowledgeable about pearls.2. Getting Started - Blog SoftwareOnce you have decided to start blogging, you will have to consider the software options available for hosting your blog. Many social media experts advise businesses to be wary of some of the free blog tools available, since their basic features don’t offer integration with existing business Web domains or allow for brand customization.

However, if you are just getting started with a blog, free blog-ging software can be a cost-effective and easy solution for many small businesses. If your blog does take off down the road, you might want to consider migrating to blog software that is installed on your domain and integrated with your Web site. 3. Commit to Blogging Regularly and with RelevanceThere are two signs that a blog has lost its way - no posts for two weeks or more, and content that is not germane to the subject.. Neither will give a favorable impression of your company.

A way to keep posts regular is to share the duty with your employees. This also adds a diversity of voices. Having an edito-rial calendar can also keep you on track. Composed in advance (for the coming month or quarter), an editorial calendar should include not just the working title of upcoming posts, but a sum-mary of the objective of each post too. 4. Develop a Plan to Generate Traffic to your Bloggenerating traffic to your blog is essential. Many bloggers either do very little to leverage the tactics available to them, or they go overboard in the opposite direction and inundate their blog pages with links to drive inbound traffic.

There are many traditional and non-traditional ways to drive traffic to your blog - from ensuring you have Rss feeds built in to adding a link to your blog from other customer touch points such as your email signature and main business Web site.

Happy blogging!

Tips to Help You Start, Maintain & Grow a Small Business Blog!

Angola has been producing eight million carats of diamonds annually since 2006. The Angolan government has issued a

statement that its goal for the year is to increase diamond production by 20% to reach a targeted production of 10 million carats

government officials stated that the largest diamond mine in Angola, the Catoca mine –underwent maintenance in April 2014. Now production is set to increase. According to statistics released by the Kimberley Process, in 2013, the country produced 9.36mn carats valued at U.s. $1.28 billion.

The geology and mining minister of Angola, Francisco Queiroz, reported that, “This year, we have an ambitious target of 9.5million carats in production and 550,000 carats in artisanal production, which means we have to produce 10million carats.”

Angola is the fourth largest producer of diamonds in the world.

87% of diamonds are mined from the Catoca mine. It contributes 12 % of the country’s gross domestic product (gDP).

A study jointly released by the investment bank eaglestone and the sinese economic geology Consultancy which was released in 2013, stated that large amounts of kimberlites and alluvial diamond deposits could dramatically boost the nation’s income.

ever since 2002 when the civil war ended the diamond industry production has increased in Angola. The study also reported that since 2006, the southern African country has annually maintained a steady production of eight million carats.

The Angolan government has now simplified mining laws and has also begun to utilize the country’s oil wealth to diversify the economy and improve the country’s infrastructure. To date only 40% of the country’s diamond-rich territory has been explored.

Angolan Diamond Production Set To Increase 20%


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the attention of the bank staff IMMeDIATelY! F) If there are other individuals in the ATM who seem to be

overly helpful, leave and find another ATM.g) When entering your pin number on the ATM machine, place

the other hand over the keypad to block any mini cameras that may be present.

H) If you do find an illegal skimmer call 911 immediately. They will dispatch a policeman from the Financial Crimes Unit to monitor the ATM and hopefully catch the perpetrator. These units have a very small battery and only operate for a short time so crooks seek to retrieve them within a short time frame.

2. green DoT Money ScAMA) If someone calls your residence or business claiming to be

from the I.R.s., Con ed or some other service provider claiming that you owe back taxes or your account is several months overdue, do not agree to pay anything. The I.R.s. will NeVeR contact you by phone to collect, only by mailed correspondence.

B) An individual will tell you in order to avoid a warrant being issued, you must pay the back taxes owed by going to your nearest drug store and purchasing a green Dot MoneyPak card. They will then tell you how much money to put on the card, give you a phone number to call and give the person that answers the serial number that you find once you scratch off the green circle on the card.

C) They may call and say in order to avoid having your electric-ity being turned off, purchase this card and call the number provided and read to the person that answers the serial number under the green dot. (In All cases, never provide anyone with your personal information. Ask for a telephone number to call them back. If they are a legitimate company,

they will not have a problem giving you a phone number and/or a reference number.)

3. SecuriTy/SurveillAnce cAMerASA) security camera systems should be digital. Analog systems

tend to have a low level of clarity in comparison.B) Cameras should be positioned to allow clear views of the main

entrance of the business and any waiting areas. C) Recording systems should be separate from the computer

system used for office business. In some cases, businesses that have been victims of robbery have had their computers stolen which contained any security footage recorded. A separate digital video recording (DVR) system should be maintained in a discreet location of the office.

D) If possible, have a security company monitor the live feed from your cameras so if something does take place, it is always prudent to have an extra set of eyes watching.

e) The system should be capable of keeping a 30 day history should the need to view prior transactions become necessary.

F) Downloading memory to a portable hard drive and storing that in a secure location is another prudent safeguard.

4. eSTAbliShing A rouTineA) Avoid having meetings with associates at the same time

every day/week, especially when carrying merchandise on your person.

B) By doing this, you avoid establishing a routine that unscru-pulous individuals could take advantage of.

C) When possible, have those persons you normally go out to meet with come to your place of business.

“UNPReDICTABIlITY Is THe WReNCH THAT CAN Be THROWN INTO THe CRIMINAl MACHINe”.

has not cost taxpayers a dime. In fact, according to a recent study by the RAND Institute, “in the event of a terrorist attack comparable to any experienced before, [TRIA] is expected to save taxpayers money.”

TRIA is set to expire at the end of this year and every day Congress waits to renew it, terrorism insurance becomes more and more difficult to get and essential development projects are delayed. Not renewing TRIA would be devastating, especially in New York.

That’s why there is widespread support in the business com-munity for reauthorizing TRIA in its current form. Insurers, developers, banks — and even the major sports leagues — all

believe that this federal program is the only reason that terror-ism risk insurance is available at all.

simply put, if Congress fails to act — and act soon — busi-nesses in the Diamond District, throughout New York City, and in other high-profile areas would be badly hurt. Our economy would suffer.

This time, we can’t just wait until the last minute to reauthorize TRIA, as we do with everything else. I am proud to lead this effort and work across the aisle to extend this vital program. It’s my top priority, and I know we can get it done — especially if we remember the bipartisan spirit that helped us enact the law in the first place.

BID Seminar - Safety & Security For Jewelers - Part 1 Continued from Page 1

Terrorism Risk Insurance Act Still Needed Continued from Page 1


law enforcement agencies have spotted a new form of ATM skimming device that is so small it’s hard for the average

person to detect.A nonprofit organization that collects information on ATM

fraud, The european ATM security Team, reported that one of its country member representatives had discovered these so-called mini-skimmers. The criminals behind them are likely to transmit the stolen card data to the United states, since the eMV chip-and-PIN card security standard has not been adopted here. The old-fashioned magnetic stripe cards are much easier to produce than the technologically superior eMV cards.

ATMs have been a major placement area for illegal skimming devices. They have long been utilized by thieves to abscond with card information obtained from the magnetic stripes. They’re often used concurrently with miniature cameras the criminals use to learn the cardholders’ PIN numbers. The newest devices pose an added risk to consumers simply because they are hard to notice. This is a reminder that fraud tools — like most technologies — continue to get better with time.

While the current generation of card skimmers are made to sit directly on top of the existing card slot, these newer mini-skimmers fit snugly inside the card reader throat, and obscures most of the device. ATM card skimming scored high on the top security threats of 2013 for banks, according to the most recent Verizon Data Breach Investigations Report. Production of skimmers are getting a big boost from 3D printers — which is printing everything from handguns to toys. “You can bet that if someone is able to make a plastic gun, card skimmers become almost trivial. These can be made without any major

fabrication facility,” says Chris Novak, managing principal of the risk team at Verizon enterprise solutions. “3D printers can be purchased legally online or in various electronics stores. Consumers can ‘print’ whatever they want from the comfort of their living room. And if that wasn’t easy enough, the design plans for tons of items are already available online, so the most difficult task may be deciding what colors to use.”

The U.s. is more at risk than most european countries as the country has yet to transition all cards to include fraud-fighting eMV chips, and criminals are looking for easier targets.

Miniature ATM Skimming Devices

Miniature ATM Skimmer

An attendee of the BID safety and security For Jewelers seminar went to withdraw money from the ATMK located

on 48th street between 5th and 6th Avenues. “My card just did not fit in correctly. I had to push it in , withdraw it and insert it a second time before it worked properly,” said the seminar at-tendee. “It was like the cartoon where you see a light go on over someone’s head, I remembered the information presented at the seminar about skimmers and jiggled the plastic casing. It was loose. I realized it was a skimmer and that Ii had inadvertently conveyed my banking information thorough it. I was annoyed at myself and did not want criminals having access to my bank account so I pulled the casing more forcefully and it came off in my hands. It had only been secured to the ATM by double sided sticky foam tape. I was in a rush and did not feel very confident

about the giving the skimmer to a worker at Duane Reade so I took it with me. After notifying my bank and asking them to close down that ATM card I called the Midtown North precinct that evening.”

“The police had a detective from the Financial Crimes Unit retrieve the device from me. He said that since I had shown it to many people that dusting it for fingerprints would probably not be helpful and in the future if I found a similar device to either call 911 or if I was going to remove it to bag it and not let other people touch it. He said they would try and recover DNA material from under the sticky tape. He also said I had saved an untold number of people from having their bank accounts being compromised by finding and removing the device. This is all thanks to the BID’s seminar.”

Attendee of The BID’s Safety & Security For Jewelers Seminar Finds ATM Skimming Device At Duane Reade on 48th Street


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Miniature ATM Skimmer

Founded in 2007 by Russell simmons and leaders in the Dia-mond and Jewelry industry, The Diamond empowerment

Fund™ (D.e.F.) is a non-profit international organization with the mission to support education initiatives in nations where diamonds are a natural resource, with the belief that sustain-able development through education is essential to empower both individuals and society to reach their fullest potential. DeF envisions a future for these countries to be strong, stable, economically prosperous and socially empowered.

It was the humble hope of Russell simmons and Kimora lee simmons, owners of the simmons Jewelry Co., that they could join in and make a difference in helping youth in diamond producing countries empower themselves through educa-tion. In this hope was the genesis of the idea for the Diamond empowerment Fund™ (D.e.F.) as a way to make a positive difference for diamond producing nations.

In fall 2006, while completing a fact-finding mission to southern Africa to see firsthand how diamonds are empowering the countries of Botswana and south Africa, Russell and his delegation witnessed concrete examples of how the diamond industry directly enhances sustainable economic development and contributes to the overall empowerment of people and communities. They first chose places in Africa where there are stable democratic governments and the kind of government-private sector joint ventures that have a factual and transparent track record of improving the quality of life.

They were in search of a success model that they could learn from and continue to expand. The delegation found that Botswana is the undisputed world model of empowerment when it comes to the extraction, processing and production of diamonds. The team visited thriving commercial training and production centers, as well as well-equipped public schools, musical band programs, hospitals, family care facilities, or-phanages, and HIV/AIDs clinics, all financially supported throughout Botswana from diamond beneficiation. They were heartened by the positive developments they saw and believe these effective measures can be the model for other diamond producing countries that possess bountiful natural resources.

When the delegation arrived back in the United states, they reported the findings of fact and announced the establishment of D.e.F. to support education initiatives that empower youth from countries where diamonds are a natural resource. At the same time, the simmons Jewelry Company launched the green Initiative™ collection of jewelry to raise funds for D.e.F. green is intended to symbolize prosperity, well-being, and care for the planet earth and its entire people. Importantly, green universally represents sustainability. The collection is intended to symbolize and communicate the efforts to empower youth through education. Indeed, the malachite and rough-diamond “green Bracelet” quickly became the first symbol for D.e.F. This signature green bracelet was redesigned for 2012. Now, instead of a rough diamond, simmons Jewelry Company added two polished diamonds to symbolize both D.e.F’s growth and the growth of the students helped since the organization’s founding.

D.e.F.’s mission reached the attention of the entertainment community when Oscar winner Forest Whitaker chose to wear a bracelet from the green Initiative collection to the 2007 Academy Awards. The green Bracelet as a symbol for D.e.F. and its mission then gained further public awareness through advertising campaigns featuring Kimora lee simmons wear-ing nothing but dozens of green Bracelets, a series of celebrity events for D.e.F. from Manhattan to Hollywood in the summer and fall of 2007, and features in Harper’s Bazaar, Instyle, ebony, Hamptons Magazine, and Hollywood life.

D.e.F. was launched with simmons Jewelry Co.’s leading support. Building on this good first step, the vision for D.e.F. is to engage the entire diamond and jewelry industry in rais-ing funds to benefit educational initiatives in nations where diamonds are a natural resource. D.e.F. is diligently working to build alliances with the diamond jewelry industry to raise funds towards the mission of helping CIDA, African leader-ship Academy, and Botswana Top Achievers – all organizations that empower youth through education.

If you are in the diamond jewelry business and would like to be a part of D.e.F., please visit their website at http://www.diamondempoerment.org/contact-us/ or call 212-359-4219.

The malachite and rough-diamond “Green Bracelet” has quickly become the first symbol for D.E.F.


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ff Venture Capital ff Venture Capital is an institutional venture capital investor in seed-stage companies, investing through ff Rose Innovate NY Fund, lP and other funds. ff VC offers extensive resources dedicated to portfolio acceleration, including a job board, recruiting assistance, strategy consulting, an experienced mentor network, a pool of preferred service providers, a portfolio executive community, and accounting services.contact: http://ffvc.com/contactWebsite: http://www.ffvc.com/ Golden Seedsgolden seeds, a national investment firm, invests in early stage New York state companies with scalable business models that have diverse management teams with at least one woman in a leadership position.email: [email protected]: http://www.goldenseeds.com/venture-capital.aspx SCP Incubators / Z80 Labs sCP Incubator and Z80 labs’ primary objective is to serve as a catalyst in the creation of a new technology economy in the Buffalo and Western NY areas. sCP’s focus is on emerging technology fields, namely, IT, digital media, and life sciences located in the southern Tier, Finger lakes, Central, and Western NY regions of the state.email: [email protected]: http://z80labs.com/index.html Stonehenge Growth Capital’s Innovate NY fund primarily focuses on seed and early stage software and services New York state companies that are at the intersection of healthcare and IT.email: [email protected]: www.stonehengegrowthcapital.com

The general partnership of the Fund is managed by the com-munity Development venture capital Alliance, a national network of community development venture capital funds, fo-cusing on the creation of good jobs, wealth, and entrepreneurial capacity for lower income communities. For more information, please visit http://www.cdvca.org.For Innovate NY Fund program questions, please e-mail [email protected].

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