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Got a memo gripe? Web site airs grievances

January 28, 2009

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New York--Companies concerned about releasing a diamond on memo in these shaky economic times have another online resource to turn to for information.

In business for more than a year, JewelersAlert.com provides an online forum where members of the trade can post information about companies that have cost them money and gain information on potential scams circulating in the industry, according to a news release.

The Web site also has an internal e-mail system (DM) where members can communicate with each other as well as an "alert" system, which notifies members via e-mail when a new post about a specific subject appears on the site.

JewelersAlert.com President Zev Oster said regular membership to the Web site is free, and that users have access to the site's diamond trading channel, trade news and general discussion board. Access to the site's specific discussion boards--such as the discussion board on bankrupt companies--are open only to gold members, who pay an annual fee for their upgraded membership status.

Asked how the site differs from services offered by longtime industry credit reporting agency the Jewelers Board of Trade (JBT), Oster said his Web site allows industry members to get the scoop directly from the company that lost money or got scammed, instead of receiving that information after it has been filtered through JBT or another agency.

He added that the posts on his site are legitimate because companies understand the danger of being sued if they post something about another company that is not true.

"It's like any blog out there," Oster said. "If you're going to make something up, you're going to get sued."

To date, JewelersAlert.com has more than 1,700 members, 200 of which are gold members, he said.
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