Word: jewellers
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...Every morning, more than a thousand diamond cutters file into Surat's spotless Venus Jewel factory, each pressing his thumb on an electronic fingerprint scanner that releases a turnstile. After removing footwear, to ensure they don't leave with diamonds stuck to their soles, the cutters are handed plastic bags filled with rough diamonds. Operating lathes and lasers, they slice, polish and facet the cloudy crystals into sparkling gems, churning out about $150 million worth each year. Venus and several hundred other factories, employing 300,000 cutters in total, have made Surat the heart of India's thriving diamond-polishing...
...workers in new factories like Venus Jewel are adult, and the work environment is comfortable and well lit, albeit pervaded by paranoia. Closed-circuit cameras monitor many parts of the factory, and S.P. Shah, whose family owns Venus Jewel, sits in front of four screens and watches obsessively. Although the industry is rife with rumors that workers are locked in factories if diamonds go astray, Shah denies that his own employees are ill treated. "If a stone goes missing," he says, "we try and persuade the workers to give it back, and this usually works...
...businessmen have even started setting up workshops in China; another bonus is that wages there are lower than in India. Small wonder that many Indian merchants believe it's only a matter of time before they take over from Belgium's Hasidim as kingpins of the diamond business. Venus Jewel's S.P. Shah, diverting his eyes for a moment from his four closed-circuit TVs, acknowledges that his Belgian and Israeli rivals are among the world's best businessmen, but he adds: "We Indians are even better...
Ringling has long been the crown jewel of Feld Entertainment. The company, based in Vienna, Va., also produces Disney on Ice and will soon launch a Winnie-the-Pooh live-entertainment show. Until entertainer Roy Horn's near fatal encounter with a tiger last year, the company also had a steady money-maker as producer of Siegfried & Roy in Las Vegas. The privately held company doesn't disclose its finances, but Feld indicated that the circus business lately has been far from spectacular. Ringling revenues are up 13% over the past five years and 36% over the past decade. According...
...American buying the crown jewel of British soccer? We are catching on to this game, aren't we? Malcolm Glazer, who owns the NFL's Tampa Bay Buccaneers, in recent weeks has upped his stake in Manchester United, the world's most valuable sports franchise and a listed company. Glazer, a billionaire businessman who lives in Florida, now owns just under 17% of the Reds. The team brought in a world-best $289 million last season, according to Deloitte & Touche, topping the New York Yankees' $280 million in revenues. The notably unglib Glazer won't tip his next play...