N.Y. state considers increasing luxury goods tax
Albany, N.Y.--An additional sales tax of 5 percent on luxury goods costing more than $20,000--including jewelry--is one element of New York Gov. David Paterson's proposed $12.1 billion state budget,...
Senate passes credit card bill
Washington, D.C.--The Senate voted yesterday to prohibit credit card companies from arbitrarily raising a person's interest rate and charging many of the exorbitant fees they've been passing along to...
Illinois drops plan for luxury tax
New York--The state of Illinois has abandoned legislation that would have placed a 5 percent luxury tax on in-state purchases of jewelry and timepieces totaling more than $20,000, Jewelers of America...
Obama unveils plan to help small businesses
Washington--Under fire for the bailout of big banks and Wall Street institutions, President Barack Obama unveiled a plan on Monday that will make it easier for small-business owners to borrow money,...
Maryland jewelers violate metal-purchasing laws
Millersvillle, Md.--Police in Maryland's Anne Arundel County have dinged 18 businesses for violating local precious-metal purchasing laws, according to a release from the police department.
Which watch brands do Obama, Biden wear?
Washington--The fashion choices of First Lady Michelle Obama have already generated much press, but for the watch industry, all eyes are on what type of timepieces the leader of the free world, and...
N.Y. rejects proposed luxury tax
Albany, N.Y.--Legislators for the state of New York have rejected New York Gov. David Paterson's proposal for a luxury tax on jewelry and watches, among other products, according to a report from the...
Fortunoff files notice of layoffs with state
Albany, N.Y.--Bankrupt retailer Fortunoff Fine Jewelry and Silverware LLC gave New York state notice of its plans to conduct hundreds of layoffs, paperwork filed earlier this week with the New York...
NRF welcomes organized-retail-crime legislation
Washington--The National Retail Federation (NRF) recently welcomed legislation intended to help law-enforcement officials fight the $30 billion-a-year problem of organized retail crime.
JVC names new board members
New York--The Jewelers Vigilance Committee (JVC) recognized new board members at its annual luncheon on Jan. 9, held at the Waldorf-Astoria in New York City.
Know the rules before hosting a 'gold party'
New York--Retail jewelers cashing in on the phenomenon of private "gold parties" should be aware of the laws that regulate secondhand purchases, the Jewelers Vigilance Committee (JVC) cautions.