Talk:De Beers

From Academic Kids

Can anyone tell me what kind of music was played during the De Beers diamond commercial? (the year was 2000)

I found a Washington Post article that gave the year of the original charge (1994) and it was apparently only aimed at their price fixing for industrial diamonds. The $10 million fine seems less like a pittance when this is considered, since industrial diamonds are only a $500 million market (as opposed to $60 Billion for diamond jewlery)--AAMiller 02:22, 18 Apr 2005 (UTC)

Am I wrong in thinking that there should be a seperate page cataloging the rise of the cartel and how it began to inflate prices? Or at least a seperate section? --67.190.229.202 07:15, 5 Mar 2005 (UTC)

Wow, this page needs a complete and total rewrite. Isn't there anybody knowledgeable around here to take it up? I know only a little about the subject, and not sure I could be NPOV. :-)

At any rate, the following two sentences:

De Beers has been for many years under indictment in the United States for antitrust violations.

and

It has been alleged that De Beers uses its monopoly to create an artificial scarcity of diamonds, thus keeping prices high.

are both pretty ridiculous. De Beers is a South African country, and that's the whole point--they would never be allowed to operate in the US as they currently do. Standard Oil was a schoolkid compared to them. But, since they are in another country, I seriously doubt that there are US criminal proceedings against them, although I suppose I could be wrong. I am pretty sure, however, that no reasonable person would contest the fact that diamond prices are inflated by an artificial scarcity; alleged is just a weasel word in this case. That's how the company came into existence in the first place: as a cartel of diamond mines that saw prices falling too fast. -TimeLord mbw 23:04, 19 Mar 2004 (UTC)

The article is perhaps inadequate but the two points used as examples above are both true. Timelord's views are not correct. I will remove the NPOV tag if there is no cogent argument. Paul Beardsell 21:38, 19 May 2004 (UTC)

Ah, OK, the NPOV tag has already been removed. I have now provided erxternal links to contradict Timelord. Paul Beardsell 21:50, 19 May 2004 (UTC)

Interesting; I stand corrected on the indictment part. I said I could be wrong, and I was. Although, I have to say the articles weren't entirely clear--are the indictments against company management, all employees, or on any part of the company that might operate in the US?

And as for the second point, as I said just above <ahem>, I wasn't taking issue with the truthfulness of the statement, but the phrasing. Specifically, the use of the word "alleged", which I see someone else has fixed. -TimeLord mbw 02:07, 24 May 2004 (UTC)

My father worked for De Beers and Anglo American for in the 70's and 80's. Senior executives were warned off visiting the USA at one time: They could have been subpoenaed as witnesses. I agree the articles weren't entirely clear and I am not sure as to the legal position exactly. Paul Beardsell 03:37, 24 May 2004 (UTC)

This article is out of date again. De Beers pled guilty in July 2004, and was fined $10m. A neat deal for them considering they make $2bn profit on $5bn turnover per year! There are now plans for the De Beers SA - LVMH joint venture (De Beers LV) to open a store on Fifth Avenue, NYC. They currently have stores in London and Tokyo. Pcb21| Pete 12:12, 2 Aug 2004 (UTC)

The DeBeers store in London merely uses the (licensed) name of DeBeers - they are not a part of the DTC. DTC do not sell cut diamonds. DTC have no operations in the US, working exclusively through brokers, as a result of legal concerns. I therefore presume that the US store is related in a similar fashion.