The Golden King and the Great Pharaohs

“Tutlanta” launched today as tickets became available for “Tutankhamun: The Golden tiffany bracelets and the Great Pharaohs,” a new exhibition featuring more than 130 treasures from the tomb of celebrated pharaoh King Tutankhamun and other ancient Egyptian sites. The exhibition will premiere at the Atlanta Civic Center from November 15, 2008, to May 25, 2009, and is presented by the Michael C. Carlos Museum of Emory University.

To kick off fall’s golden celebration, exhibition organizers announced a slate of Egyptian-themed activities and initiatives that will launch in conjunction with the exhibition. The “Egyptomania in Atlanta Bus Tour” will transport visitors on a chartered coach to explore Egyptian revival art and architecture in Atlanta with the Michael C. Carlos Museum’s curator of Egyptian art, Dr. Peter Lacovara, as their guide. “TUT Trivia!” will incorporate King Tut-themed questions into trivia nights at select Atlanta locations. In January 2009, the Atlanta Opera and Emory University’s Flora Glenn Candler concert series will present Philip Glass’ opera “Akhnaten,” which explores the great pharaoh’s reign just before that of Tutankhamun.

Additionally, more than 75 businesses throughout the city will participate in a “Tutlanta” affinity card that all King Tut ticket-buyers will receive, entitling them to $250 worth of Egyptian-themed offerings and discounts at participating locations. From restaurants to health and beauty treatments to petcare, “Tutlanta” partner offers include “TROIS visits Egypt,” a five-plate Egyptian-influenced menu at Trois for $25; “Pharaoh’s Steam Bath,” a custom treatment at the Atlanta Dog Spa; and “Pharaoh’s Fire and Ice Facial” at Julio Cesar’s Salon and Spa. A full listing of offers is available at http://www.tutlanta.com.

Commissioner Dianne Harnell Cohen unveiled the official “Tutlanta” logo, which was created by a local Atlantan and will be featured on select exhibition merchandise and used regionally to promote the citywide celebration.

“Tutankhamun’s magic still captures the hearts of people all over the world, even though more than 85 years have passed since the discovery of his amazing tomb,” said Zahi Hawass, secretary general of Egypt’s Supreme Council of Antiquities. “America has welcomed the golden king, and now he returns, bringing with tiffany rings all the great pharaohs of Egypt.”

Proceeds from the tour will go toward antiquities preservation and conservation efforts in Egypt, including the construction of a new grand museum in Cairo. Tickets and information are available at http://www.kingtut.org or http://www.carlos.emory.edu.

The Michael C. Carlos Museum has developed educational materials in conjunction with the exhibition for elementary, middle and high school audiences. These supplemental materials will be available for download for free and will highlight topics such as childhood in ancient Egypt and how the journey to the afterlife was believed to occur.

“We are dedicated to the educational and inspirational value of exhibitions here in Atlanta,” said Bonnie Speed, director of the Michael C. Carlos Museum. “The Tutankhamun exhibition presents a landmark opportunity to experience the richness of ancient Egypt’s art and culture and to understand its global influence. We believe this exhibition, along with the educational materials and vibrant Egyptian-themed, citywide events we have developed, will offer our community a variety of ways to access Egypt’s magical past.”

The exhibition is organized by National Geographic, Arts and Exhibitions International and AEG Exhibitions, with cooperation from the Egyptian Supreme Council of Antiquities. Northern Trust is the presenting sponsor of the tour, and American Airlines is the official airline.

“Tutankhamun: The Golden King and the Great Pharaohs” is the second National Geographic exhibition dedicated to the remarkable treasures of King Tutankhamun and ancient Egyptian royalty. The first exhibition, “Tutankhamun and the Golden Age of the Pharaohs,” was visited by nearly 4 million people during its four-city U.S. tour from 2005 to 2007, and will begin a three-city encore tour in Dallas later this year.

“‘Tutlanta’ was born from the excitement seen throughout the city since announcing the exhibition would make its U.S. premiere in Atlanta,” said John Norman, president of Arts and Exhibitions International. “Residents and visitors to the Atlanta area are lucky to have so many opportunities to experience offerings in conjunction with the exhibition that will enhance their knowledge about this important period in world history.”

Also today, Northern Trust, presenting sponsor of the exhibition, donated exhibition tickets to a first-grade class from Morningside Elementary School. Nearly 230 students from the Atlanta public school will be among the first to experience the exhibition.

“For nearly 120 years, Northern Trust has strived to increase social interaction and a sense of tiffany earrings, and integrate the arts into education and other outreach activities,” said Frederick H. Waddell, president and chief executive officer of Northern Trust Corporation. “We look forward to sharing this extraordinary event with the Atlanta community, as well as visitors from around the world.”

Exhibition organizers anticipate the exhibition will be a strong attraction for visitors throughout the region.

“American Airlines is thrilled to have a role in bringing ‘Tutankhamun: The Golden King and the Great Pharaohs’ to its Atlanta premiere,” said Dan Garton, executive vice president of marketing for American Airlines. “As the official airline of the exhibition, we are pleased that American Airlines is helping to make it possible for these extraordinary objects to be seen by thousands of visitors.”

ABOUT THE EXHIBITION

Premiering November 15, 2008, to May 25, 2009, at the Boisfeuillet Jones Atlanta Civic Center, “Tutankhamun: The Golden King and the Great Pharaohs” will feature striking objects from some of the most important rulers throughout 2,000 years of ancient Egyptian history, from the 4th Dynasty into the Late Period (about 2600 B.C. – 660 B.C.). Derived from a variety of contexts, including temples and royal and private tombs, many of these artifacts have never before visited the United States.

Tutankhamun was one of the last kings of Egypt’s 18th Dynasty and ruled during a crucial, turmoil-filled period of Egyptian history. The boy king died under mysterious circumstances around age 18 or 19, in the ninth year of his reign (1323 B.C.).

The exhibition will highlight more than 50 treasures from Tutankhamun’s tomb and more than 70 artifacts representing other pharaohs and notables, along with the latest scientific research about King Tut. The storyline will focus on the splendor of the Egyptian pharaohs, their function in the earthly and divine worlds, and what kingship meant to the Egyptian people.

Four galleries devoted to King Tut will correspond to the four rooms of his nearly intact tomb, where the treasures were discovered by British explorer Howard Carter in 1922. Legendary artifacts from the antechamber, the annex, the treasury and the burial chamber will include Tutankhamun’s golden sandals, jewelry, furniture, weaponry and statuary.

TICKET INFORMATION

Tickets to the exhibition at the Atlanta Civic Center can be purchased at http://www.Ticketmaster.com. Group tickets for 10 or more are available by calling 1-866-52GROUP or visiting http://www.kingtut.org. For additional information about tickets and pricing, please call 1-877-TUT-TKTS or visit http://www.Ticketmaster.com or http://www.kingtut.org.

Hotel packages, including VIP tickets for anytime access that are not available to the general public, are being offered at Atlanta-area Marriott hotels, including Atlanta Marriott Marquis, Atlanta Marriott Suites Midtown, Renaissance Atlanta Hotel Downtown, Courtyard Atlanta Midtown/Georgia Tech, Residence Inn Atlanta Midtown/17th Street, Residence Inn Atlanta Midtown/Historic, Residence Inn Atlanta Downtown, JW Marriott Hotel Buckhead Atlanta, Springhill Suites Atlanta Buckhead, Atlanta Marriott Century Center, Residence Inn Atlanta Buckhead, Residence Inn Atlanta Buckhead/Lenox Park, Atlanta Marriott Perimeter Center, Atlanta Marriott Downtown and Courtyard Atlanta Executive Park/Emory. More information is available at http://www.kingtuthotels.com.

About the Michael C. Carlos Museum of Emory University

The Michael C. Carlos Museum, founded in 1919, has long been dedicated to collecting, preserving, exhibiting, and interpreting art and artifacts from antiquity to the present. Some 16,000 artifacts from ancient Egypt, the Near East, Greece, Rome, the Americas, Asia, and sub-Saharan Africa, as well as works on paper from the Renaissance to the present day, provide visitors with a glimpse into the art and history of world cultures. The museum aims to provide unique opportunities for education and enrichment in the community, and to promote interdisciplinary teaching and research at Emory University. The Carlos Museum’s educational programming — with an active schedule of lectures, symposia, workshops, performances, and summer camps — benefits all who interact with the tiffanys community. Annual participation from 100,000 visitors, 30,000 children, and almost 1 million internet users of Odyssey Online, Carlos Museum’s interactive Web site accessed by English-speaking classrooms around the world, reveals the Museum’s commitment to making art and artifacts relevant and accessible to all. In addition to conducting scientific analysis and treatment of museum collections, the Carlos Conservation Laboratory also offers teaching and training opportunities for students interested in pursuing careers in art, conservation, preservation, and science. Located at the heart of Emory University’s Atlanta campus, the Carlos Museum serves as the South’s premier museum of ancient art.

JCPenney September 2008 Sales Pre-Recorded Conference Call – Final

The words expect, plan, anticipate, believe and similar expressions identify forward-looking Tiffany Bracelets. Any such forward-looking statements are subject to risks and uncertainties and the Company’s future results of operations could differ materially from historical results or current expectations. For more details on these risks, please refer to the Company’s Form 10-K and other SEC filings. Also please note that no portion of this call may be republished, reproduced or rebroadcast in any form without the prior written consent of JCPenney.

Now let’s discuss our sales results for the month of September. For the five weeks ended October 4, 2008 JCPenney’s comparable store sales decreased 12.4% which was below guidance for a mid to high single digit decrease. In last year’s September period, comparable store sales declined 3.7%. For the month, total Company’s sales decreased 10.9%.

During September, a weakening economic climate combined with the events that took place in the financial markets took a toll on already weak consumer sentiment and declining spending. These factors impacted the Company’s sales performance as well as declining mall traffic that reached its lowest point of the past year. Additionally the Company experienced some minimal impact on September sales results from the disruption that resulted from store closures due to hurricanes affecting the Southeast and Southwest regions.

Overall, while sales declines were broad-based, the Southwest delivered the weakest results. However, there were some brighter spots in the Northeast and Central parts of the country were cooler temperatures began to set in at the end of the month and we were encouraged to see a notably good response to such categories as women’s sweaters and outerwear. Internet sales through JCP.com decreased 4% in September compared to a 6.4% increase in September 2007, with home furnishings in particular seeing a weak response.

Looking at merchandise trends across our business, on a relative basis given the weakened sales Tiffany Rings women’s apparel and children’s were the better performing merchandise divisions during the month, while fine jewelry and home continued to be our weakest performing divisions.

With respect to weekly sales trends, sales were weak throughout most of the month but softest during the third week. Sales improved during the last week of the period, aided by the cooler weather experienced in the Northeast and Central regions. Overall, the Company’s off-mall stores continued to see better traffic patterns than our mall locations which, as I mentioned, experienced the weakest traffic trends of the year.

The Company opened 12 new stores on October 3. Four of these stores are in Alabama, two are in Texas and one store is opening in each of the following states — Arizona, Kentucky, Tennessee, Washington, Ohio and Louisiana. One of the 12 new stores opened last week was a relocation and 11 were in the off-mall format.

Eight of the 12 new stores include a Sephora Inside JCPenney. We also added Sephora Inside JCPenney to existing stores in St. Joseph, Missouri and Roseville, California. This brings our total Sephora count to 91 locations. This round of openings completes the group of 35 new or relocated stores we planned to open in 2008 and brings our total store count to 1093. In addition, over the course of the year JCPenney will complete extensive renovations of 21 stores, three store expansions and refurbishments and upgrades to 90 others across the country.

With that let me discuss our outlook. In light of September sales, we believe it is prudent to lower expectations for the coming months. But we remain confident in the underlying strength of our business. Despite the challenging environment, customers are continuing to respond to the newness and innovation we provide through new brands such as Decree, through Sephora and through a merchandise selection that is designed specifically to meet their family’s style preferences and need for quality at a sharp price point that makes sense in this economic climate.

As part of the Company’s continuing effort to provide newness in its merchandise assortments, it announced the launch of I “Heart” Ronson, a complete women’s fashion sportswear line designed by Charlotte Ronson to be sold exclusively at JCPenney. Targeted toward the 21 to 35 year old women, the collection will feature a complete sportswear line with tees, knit tops, blouses, sweaters, jeans, skirts, dresses and jackets. I “Heart” Ronson will be offered at JCPenney’s better price points and will debut in JCPenney stores, online at JCP.com and via catalog for spring 2009.

As we focus on offering a compelling shopping experience, we continue to rigorously control operating expenses and manage inventory levels to be in alignment with expected sales trends. The Company continues to maintain a strong financial position with $2.1 billion of cash investments available as of the end of the second quarter to fund peak seasonal inventory needs of approximately $1 billion. The Company’s liquidity position is further supported by a $1.2 billion revolving credit facility.

Based on these factors together, we believe that we are well positioned to increase market share during this economic period and to be an even stronger competitor when the downturn is over. With that let me provide more specific information about our expectations for the October period, during which we expect the consumer spending environment to remain weak.

Management’s guidance for the four-week period ending November 1, 2008 is for a low double-digit decrease in comparable store sales compared to a 1% decrease during the same period last year. In addition, we are now guiding to a low double-digit decrease in comparable store sales for the third quarter.

Third quarter earnings are now expected to be approximately $0.50 to $0.60 per share. The Tiffany Bangles previous guidance was for third quarter comparable store sales to decline mid single digits and earnings to be in the range of $0.70 to $0.75 per share.

Before we conclude the call, let me note that the new third quarter earnings release date is Friday, November 14, 2008. And the fourth quarter and full-year earnings release date is Friday, February 20, 2009. Thank you for listening to the September 2008 JCPenney sales call.

Japan Department Stores Post Dismal Sales for Turn of Year

Major Japanese department store chains scored dismal sales in the key shopping period tiffany earring the turn of the year, according to their published data.

Last month, many chains posted year-on-year sales drops of around 10 pct, due mainly to weak sales of clothing and big-ticket items, including jewelry. Sales of winter gift items were also lackluster.

New Year sales were sluggish as well, even though the number of visitors to stores was almost unchanged from a year ago. Consumers tightened their purse strings in the face of a steep downturn in the economy.

December sales at Matsuzakaya Co., whose core region is Aichi Prefecture, the home of Toyota Motor Corp. , fell 16.1 pct from a year before.

At Isetan Co., sales were down 10.0 pct. Its flagship store in Tokyo’s busy Shinjuku district is known for its strong sales of women’s clothing but experienced a 12.4 pct drop in the category.

Mitsukoshi Ltd. posted a 9.9 pct decline in overall sales in December. Similarly, sales fell 10.2 pct at charm bracelet Co. and 9.0 pct at Daimaru Inc.

In the New Year period, all five companies recorded about the same numbers of shoppers, but results were poor due to declines in per-person sales.

During the three days through Sunday, sales at Daimaru and Matsuzakaya each dropped by around 5 pct year on year. Takashimaya logged an even steeper fall of 7 pct.

The Japanese department store sector faces a protracted fall in sales. In the whole of 2008, department store sales are believed to have fallen below their year-before levels for the 12th straight year on a same-store basis.

As a result, Japanese convenience store sales are expected to have exceeded sales at department stores throughout the country for the first time ever.

Late last month, Takashimaya revised down its earnings projections for the year ending in Heart tag charm Toggle bracelet. Other firms are likely to make similar announcements in the near future. END

Watch Sales Decline; Pushing for Education

This morning on MONEY FOR BREAKFAST: President Obama on the stump for health care tiffany earring again and there’s a new target for the administration. We’re going to bring you the latest in just a moment.

Also the committee overseeing the $700 billion TARP program blasting the Treasury Department: the chair of the TARP’s Congressional Oversight panel, Elizabeth Warren, will tell us why she’s not happy with the Treasury and also her take on the state of the banking industry.

And some sad news breaking this morning as the matriarch of one of America’s most prominent families, Eunice Shriver, has died. We’re going to take a look back at her life as well as her legacy.

We’re serving up all these stories and much, much more here on MONEY FOR BREAKFAST.

Welcome everybody to MONEY FOR BREAKFAST. I’m Jenna Lee, in for Alexis Glick, who’s off this week.

We have two stories breaking this morning we want to get you started on. First of course, we have sources telling Fox Business GM’s major announcement scheduled for 8:00 a.m. Eastern time will focus on the new Chevy Volt as the car of the future for this company. This car supposedly will get 230 miles per gallon.

We’re going to have much more on this story throughout the morning, including live coverage as Heart tag charm Toggle bracelet Fritz Henderson’s press conference where we expect more details about this car and maybe a few others.

Also some sad news this morning this morning, but we also want to mention a celebration of a life; Eunice Shriver, the creator of the Special Olympics, the younger sister of President John Kennedy and mother of California’s first lady, Maria Shriver, has died after a series of strokes. We’re going to have much more on her life throughout the morning.

Also, later this hour, double dose of CEOs: we have David Cush, the CEO of the Virgin America who’s going to join us to talk about how that airline is taking a bigger claim in air travel over all; also the CEO of Chiquita Brands is going to join us as well to discuss the company’s latest earnings and also what lies ahead for them.

But before all that, let’s take a look at the markets and see where things are starting out for the second section of the week here. Start off — we start from a positive territory for part of the morning. It seems like we’ve lost some ground there but not by much.

We are in negative territory across the board, but we’ll see what actually is going to move this market on what has been kind of an interesting couple of weeks.

As always Fox Business is keeping tabs on the rising national debt. Our debt clock breaks down that cost to you, the individual, you see right there still above $38,000. That’s not — it’s kind of depressing actually.

To hopefully change things around, we have another dynamic duo coming in to tell us about the markets. Of charm bracelet Ashley is watching them from overseas. We have Connell here with pre-market news in the United States.

Connell, it looks like we were positive part of the morning for “FOX BUSINESS MORNING” and now not so much.

CONNELL MCSHANE, FBN CORRESPONDENT: Right, I know yes, so we’re following that in terms of how things are developing this morning. Yes, you’re right. It had been up, now down. So we’ll see where goes from there but nothing crazy in terms of movements that are coming out.

Now, I’m looking down to see some breaking news coming across here, I just want to bring the earnings in and as they come across. We have a few that we want to tell you about.

One that’s just come out as a matter of fact from the watch company, Fossil, so I may as well get that one at to you. That company as reported, 25 cents a share in earnings and also says it’s raising its ‘09 earnings guidance, so it looks like a decent record at first glance from Fossil which was expected to report 20 cents a share. So if that’s a comparable number they are five cents better than forecast. Let’s see — revenue, $315.9 million is a little bit light. A little bit light, $321 million was the expectation for Fossil, a NASDAQ stock FOSL is the ticker on that. So keep an eye to that today.

We have also had some news in from CIT this morning which was interesting – - this did break in the last hour. If — they said if their tender offer is not successfully completed then they might end up filing for bankruptcy protection; Cit, leaving bankruptcy on the table in its announcement this morning. So we’re watching that one.

And then there’s Fluor, Fluor is the largest publicly-traded engineering company; it came out last night with earnings that were a couple of pennies better than expected. Also kept its full-year earnings guidance intact saying its backlog was on the rise despite a challenging economic environment.

Fluor, a stock to watch, FLR is that stock at the New York Stock Exchange. It is one that’s down 24 Tiffany 1837 cuff over that one year time span that you’re looking at but it’s up this year, you see it’s come well off its close; up almost 30 percent this year.

All right, so watch those stocks and then the General Motors story that Jenna mentioned at the top again, with the news coming out on that in the next hour officially from Fritz Henderson, the CEO — announcement on the Volts 230 miles per gallon is the expectation there as we have been reporting and we’ll have more details on that throughout the morning.

Again, Fritz Henderson in about an hours time from out in Michigan to make that announcement official.

Now, let’s head over to Ashley to get the latest on the European markets and how things are keeping up there this morning.

ASHLEY WEBSTER, FBN OVERSEAS MARKETS EDITOR: All right, thank you very much Connell.

Pretty much as you’ve been saying on the U.S. futures we’ve been actually playing it out here in Europe, starting slightly higher, it started to lose a little bit of oomph but it’s all been rather meandering and it should be pointed out that the trading volume extremely light as well.

But what we have, down a tenth of a percent now on the FTSE in London, up slightly about quarter of a percent on the CAC-40 in Paris and also down slightly about a quarter of a percent on the DAX index in Germany.

As for the stories today out of Europe, well, insurance buyout firm Resolution has agreed to buy Friends Provident here in the U.K. for $3.1 billion. Friends Provident by the way, founded a mere 177 years ago; has reported a 38 percent drop in first quarter or first half — I should say – - operating profit. And it also just recently announced a series of cost- cutting measures.

Resolution first tried to buy Friends last month and reportedly is planning to make three to four life insurance acquisitions and then merge them before selling the entire group within three years. At least that is the plan. Friends Provident stock now up two percent in London.

Meantime, Danskz Bankz, that’s Denmark’s largest bank says, it expects losses on bad loans to frank gehry high in the second half, after large impairment pushed into a worse than expected net loss in the last quarter, that net loss coming in at close to $158 million. That is worse than expected. Danskz Bankz stock now, is down two percent in Copenhagen.

It’s all rather uninspired perhaps but taking a breather, we’ll put it that way, Jenna.

Back to you in New York.

LEE: After the hangover yesterday, right Ashley, so…

WEBSTER: Exactly, most of Europe is on holiday anyway right now Jenna, so no surprise that the trading volumes are so light right now.

LEE: Well, it sounds appropriate for a holiday…

WEBSTER: Yes.

LEE: Ashley thank you very much, we’ll talk again soon in just a moment.

WEBSTER: You’re welcome.

LEE: President Obama is back on the offensive over health-care reform today. That president of course, hosting a Town Hall meeting in New Hampshire and he has a new tool to help tackle the opposition. It’s a Web site; it’s called “Reality Check.” And it offers Americans new information arguments for health-care reform and also encourages them to spread that information to friends and families through emails and social networking sites. It’s easy to navigate, it’s user-friendly.

But what about the information? We’re going to welcome in now Betsy McCaughey, she was a former New York Lieutenant Governor.

BETSY MCCAUGHEY, FORMER NEW YORK LIEUTENANT GOVERNOR: Right.

LEE: And patient advocate as well and Fox News medical contributor Dr. Mark Seigel. So welcome to you both.

DR. MARK SEIGEL, FOX NEWS MEDICAL CONTRIBUTOR: How are you doing?

LEE: Doctor, let’s start off with you. First of all, you’ve taken a look at the Web site, what do you think so far?

SEIGEL: It is pretty inaccurate and I think it’s disappointing to call it “reality check.” No apologies to Bill O’Reilly by the way I think he does a better job with reality check.

LEE: Do you think that was on purpose?

SEIGEL: I think that was on purpose.

But look, they use three terms that I want to talk about there. First of all, they talk about rationing. They are attacking the use of the term rationing.

But look, if they end up in a situation where they have passed this enormous bill with tremendous costs and then they decide they want to cut down on costs, they’re going to cut down on reimbursements and they will cut down on services; if you cut down on services, that leads to rationing.

That’s inevitable. Is not a dirty word, it’s in the ability when you try to control costs by decreasing services.

Second, the term euthanasia, well, it’s clear in the House bill that Betsy brought here today there’s a big section that I’ve read word by word — I’ve read this five, six times already. If they have advisory committees and they have counselors that meet with the elderly every five years, they say practicing physicians, but they have to go through a training and the goal is to decrease care, well, that can lead to euthanasia because the choices diminish that the elderly gets.

Same thing with the word government takeover; that’s a dirty word, government takeover, but that document has in it, health choices commissioner, health benefit advisory committee, comparative effectiveness committee, with all of these committees, that’s government takeover.

LEE: Ok, so let’s take in a moment here and Betsy, I’ll let you respond to that in just a second. But for those of you who haven’t gone on to the Web site yet, this is how it’s setup. There are a couple different topics that doctor was mentioning from Medicare to small businesses and the videos are there with Two Hearts triple bangle folks from the White House Economic Community for example that are giving three minute videos on explanations to that.

So that’s what the Web site is set up. But this is the alternative though. Betsy, I know you have your version but this is the alternative, right? This is the actual bill that’s on the Web site, that’s on the House Web site; one of the proposals, so if you’re an American you have this to look at or you have this Web site.

Tiffany Decision In Little Switzerland Sale Upheld

Tiffany Decision in Little Switzerland Sale Upheld

A federal judge last week affirmed a $3.6 million award that tiffany & Co. had won at Paloma Picasso Double Loving Heart ring in a dispute over the sale of its Little Switzerland Inc. business.

Tiffany and NXP Corp., which bought the Caribbean jewelry chain through its Oakland, Mich.-based assignee Dhirim Inc. in 2007, had fought over the final sale price because of balance sheet adjustments.

The two companies entered arbitration, as called for in the purchase agreement. In April, an arbitrator at financial services firm KPMG decided in Tiffany’s favor and awarded it $3.6 million.

Dhirim refused to pay and, several weeks later, brought a lawsuit in U.S. District Court in tiffany on sale seeking to have the award vacated. The company alleged KPMG’s arbitrator, Luke Botica, was biased because his firm had separately tried to win Dhirim’s tax and accounting business.

Meanwhile, Tiffany filed a suit in U.S. District Court in Manhattan in June seeking to have the award confirmed.

In a ruling handed down Aug. 19, Judge Alvin Hellerstein of the New York court certified Botica’s original award to Tiffany.

Hellerstein found that the arbitrator was fair and unconflicted and that Dhirim was discount tiffany of [the] alleged fault at the time of arbitration, and waived its right to object by waiting until issuance of an unfavorable award to do so.

A lawyer for Dhirim said Friday she had no comment.

Retailers Say They’ll Take Even Flat Holiday Sales

In the retail business, it is never too early to think about Christmas. So a lot of people are tiffany bracelet about it, and taking surveys to test the mood of the American consumer, and deciding that this Christmas will be as bad as last — which is to say, one of the worst on record.

Retailers are relieved to hear that prediction. Flat sales this holiday season would at least mean that things had stopped getting worse.

“It’s reflective of this ‘new normal’ we’re in,” said James Russo, vice president for global consumer insights at the Nielsen Company. “Flat is good.”

Over all, the retailing industry posted a sales decline of about 2 percent last Christmas season, the weakest performance since the late 1960s, when the Commerce Department began tracking holiday sales figures. Results for stores that sell clothing and luxury goods were far worse, typically declining by double digits. By contrast, several reports published in the last few days, including surveys by Nielsen and Deloitte, forecast no change in holiday sales from last year to this year.

While recent economic reports have been mixed, several indicators suggest the economy is beginning to improve. But the turnaround, if it is real, has yet to filter through to retail sales, which are closely tied to the unemployment rate. That rate worsened more than expected in a government report on Friday, rising to 9.8 tiffany pendant.

Analysts say that many consumers are still worried about their jobs, their stock portfolios and the value of their homes. They remain hamstrung by a tight credit market. Few experts foresee a robust recovery in consumer spending until the unemployment rate starts heading down, perhaps sometime next year.

If a mood of thrift and penury continues into the holiday season, retailing analysts said the beneficiaries, not surprisingly, would be discount and dollar stores, warehouse clubs and Internet retailers, as shoppers across all income levels spend less and make fewer trips to stores.

A holiday study published by Nielsen this week found that 85 percent of households expected to spend the same or less this year than last year.

People are also continuing to nest in their homes. This Christmas, sales of necessities and items associated with at-home entertainment are expected to fare best: cookware and other kitchen sundries, consumer electronics, DVDs, alcohol, tobacco and bed and bath accessories. The Nielsen report said upscale retailers should consider stocking practical items because affluent households may forgo jewelry and designer bags for the likes of generators, fireplace accessories, kitchen gadgets and family games.

As has been the case throughout the recession, higher-priced categories like jewelry, sports equipment and vacations are expected to be hurt most. Industry experts said that would probably lead merchants of those items to offer compelling discounts, some of which will pop up before Thanksgiving.

Indeed, Moody’s Investors Service said in a recent research note that while clothing retailers had brought their inventory in line with weaker demand, the holiday season “may be more promotional than anticipated, as consumers have learned to delay shopping in anticipation of higher markdowns.”

Already, major big-box chains are jockeying for the discretionary dollars of consumers.

Wal-Mart said this week it would bring a $10 toy section back to all of its stores, repeating a tiffany ring strategy from last Christmas. It will offer many more toys, for a wider variety of age groups, at that price. The offers will include classic board games like Monopoly, childhood favorites like Barbie dolls and Tonka trucks, a Hot Wheels Trick Track and a Lego Bionicle Legends set. Additionally, Wal-Mart said it would match any local competitor’s advertised offer on the same toy if the price fell below $10.

On Tuesday, Kmart published a “Fab 15″ toy list, highlighting a layaway program that lets consumers reserve popular items early, pay over time, then pick up their purchases before the holidays arrive.

The stores may have good reason to begin competing for consumers’ Christmas dollars before Halloween even rolls around. According to Wal-Mart’s customer research, 70 percent of consumers are planning to start their holiday toy shopping before Halloween.

Analysts closely watch discount chains because when consumers begin spending discretionary dollars after an economic downturn, they typically do so at discount and value-priced retailers first. As time goes on and the economy recovers, consumers move up to specialty retailers. Many analysts have said that if consumers spend more this holiday season at the likes of Wal-Mart and Costco, that bodes well for specialty stores come 2010 and 2011.

Mr. Russo said studies by Nielsen had found that consumers were indeed “expressing a desire to move back into the discretionary categories although — and this is really key — at moderate levels.”

In another positive sign, Ted Vaughan, a partner in the retail and consumer products practice at BDO Seidman, said, “Retailers are starting to ramp up their inventory purchasing” for next year, referring to a BDO Seidman survey of chief financial officers at major chains.

The International Council of Shopping Centers, an industry trade group, published one of the most optimistic of the holiday reports so far, forecasting a 1 percent year-over-year sales increase in November and December for stores open at least a year.

“Does the retail industry need a miracle to have positive year-over-year sales growth during the 2009 holiday season?,” the report said. “No, but should you see Kris Kringle at the Macy’s Thanksgiving Day Parade, put in a request for one anyway!”

Smartphones’ Share of New Handsets Sales in U.S. Will Double by 2014

A dramatic shake-up in the U.S. market for new handset sales will ensue as smartphones grow to tiffany pendant roughly 60 percent of new handsets sold in the U.S. by 2014, according to the latest forecast data from Pyramid Research (ww.pyr.com), the telecom research arm of the Light Reading Communications Network (www.lightreading.com).

Pyramid Research’s recently released Mobile Handset Forecasts (http://www.pyr.com/mhfcst.htm?sc=PR111209_FCMBHN) find that smartphones will represent 31 percent of new handsets sold in the U.S. in 2009, more than double from 15 percent two years prior, writes Dan Locke, Senior Analyst at Pyramid in Why BlackBerry Will Be No. 1 by 2014. “Today, BlackBerry has nearly 50 percent of the U.S. smartphone market, but when smartphones’ share of new handsets sales double in 2014, we expect Apple’s exclusive relationship with AT&T to have ceased, which could potentially make the iPhone available to an additional 200 million U.S. wireless customers,” Locke writes. “However, even if competitors, such as Motorola, LG, Samsung, and Nokia, are able to improve their positioning in this growing segment, we expect RIM to remain at the forefront of the U.S. market.”

Read the full Pyramid Point “Why BlackBerry Will Be No. 1 by 2014 (http://www.pyramidresearch.com/points/item/091109.htm?sc=PR111209_FCMBHN).”

Our Mobile Handset Forecast products provide a complete picture of handset sell-through in the 46 markets worldwide, including U.S. and Canada. It includes five years of historical data and five years of market projections for metrics such as total handset sales, handset sales by network technology, new handset sales (by technology, by technology generation, by feature set), smartphone handset sales, vendor market share, and handset ASP. Download a forecast template here (http://www.pyramidresearch.com/downloads.htm?id=2&sc=PR111209_FCMBHN).

Based on rigorous and time-tested research methodology and data modeling, Pyramid’s Forecast Services stand as the communications industry’s most reliable and robust forecasting tools. Clients have access to 1,200-plus key market indicators updated quarterly covering the mobile, fixed, and convergence sectors for nearly 100 countries, including detailed operating metrics for more than 400 operators worldwide.

Written by Pyramid analysts, Pyramid Points are complimentary online notes that provide insight into tiffany ring, business, and regulatory developments in the global telecoms industry, based on key findings from Pyramid’s renowned forecast services. View all Pyramid Points here (http://www.pyr.com/points.htm).__

For more information about Pyramid Research’s products and services, please visit www.pyr.com or contact us at info@pyr.com.

About Pyramid Research

Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the telecommunications, media and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries — a distinction that has remained unmatched for more than 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry’s most comprehensive market data, trusted research and insightful technology analysis.

About Light Reading

Founded in 2000, Light Reading (www.lightreading.com) is the leading online media, research, and focused event company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading’s research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.

About TechWeb

TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more tiffany earring 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.

*13.3 million business decision-makers: based on number of monthly connections

About United Business Media Limited

UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetization of B2B communities and markets. UBM’s businesses inform markets and serve professional commercial communities — from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists — with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organized into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently. For more information, go to http://www.unitedbusinessmedia.com.

Contact: Jennifer Baker, Pyramid Research, +1-617-871-1910, jbaker@pyr.com

Cyber Monday Holiday Shopping Sale Offers Significant Savings to Craft Enthusiasts

In preparation for the holiday shopping season, ConsumerCrafts announces their Cyber Monday sale occurring Monday, November 30th. Shoppers can enjoy 50 percent off all merchandise and free shipping within the contiguous United States. There is no minimum purchase required, and the sale is open to all consumers.

Promotional code to enter during checkout: CC10CYM

With their one-day-only Cyber Monday sale, ConsumerCrafts offers shoppers the opportunity to grow their craft and stock up on common crafting and scrapbooking supplies. Consumers can find everything from scrapbooking paper and decals and a huge selection of beads, to kids craft supplies, gems, stones and jewelry making equipment. Crafters can find a helpful education section on the ConsumerCrafts Web site which offers tips and instructions on beading, as well as an extensive product glossary of their merchandise.

Crafting has increased in popularity in recent years. The launch of crafting sites such as Etsy.com – where crafters can sell their handmade goods at set prices – has offered crafters the opportunity to gain exposure and create revenue in the online market, without having to manage a costly or time-consuming Web site. Crafting blogs have also gained attention, as well as trade shows hosted by organizations dedicated to increasing public interest in crafting through promotional events held across the nation. Many crafting Web sites also feature educational sections on beading and crafting, offering beginning beaders the opportunity to learn easy jewelry making techniques.

About ConsumerCrafts

ConsumerCrafts is an online only craft store that offers craft, bead, jewelry and scrapbooking supplies at competitive price points. Established in 2007, ConsumerCrafts is a privately owned company based out of Cleveland, OH. ConsumerCrafts offers craft supplies through their VeriSign and McAfee secure Web site, www.consumercrafts.com.

For more information on ConsumerCrafts, contact customer service at Customer_service@consumercrafts.com

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HOLIDAY ART SALE, AUCTION TO BENEFIT SOFA GALLERY, FRIENDS OF ART

Indiana University issued the following news release:

Indiana University’s School of Fine Arts Gallery will present its annual holiday sale, this year titled “tiffany bracelets Night: A Holiday Art Sale and Auction,” Dec. 10-11.

The two-day sale begins Dec. 10 at noon and features current work donated by faculty and students from IU’s Henry Radford Hope School of Fine Arts with additional works donated by local artists. Items for sale and auction will include photographs, paintings, prints, ceramics and textiles. Jewelry will be created specifically for the event by IU students and faculty who specialize in metalsmithing and jewelry design.

Proceeds from the sale support the SoFA Gallery’s visual arts programming and the advocacy programs administered by the Friends of Art, including student scholarships.

“The Holiday Art Sale and Auction is an essential fundraising event for us because it not only provides funding for gallery exhibits and programs, but it allows us to offer professional training for student employees,” said Betsy Stirratt, director of the SoFA Gallery.

The sale runs Dec. 10-11 from noon-4 p.m. both days. A Fine Arts Student Award tiffany on sale is scheduled for Dec. 11 from 5:30-7 p.m. (Fine Arts 015). The two-day event culminates with a silent auction and holiday party art opening Friday, Dec. 11, from 6:30-8 p.m. in the SoFA Gallery.

For more information, see the SoFA Gallery Web site, http://sofa.fa.indiana.edu.libproxy.library.wmich.edu, or contact the SoFA Gallery at 812-855-8490 or sofa@indiana.edu. The SoFA Gallery is accessible to people with disabilities and is open Tuesday Saturday, noon 4 p.m., closed Sunday and tiffany sale.For more information please contact: Sarabjit Jagirdar, Email:- htsyndication@hindustantimes.com.

Rapid Sale of $1.5 Million Inventory Shows Demand For Value Jewelry

When secured lenders in early December asked Buxbaum Jewelry Advisors and LiquiTec Industries to sell off a bangles $1.5 million cost jewelry inventory before the end of the year, the deadline might have seemed unusually tight. But by reaching out to their extensive contacts in the secondary jewelry market, veteran liquidators at both firms carried out the sale in record time.

“The secured lenders needed the sale finished in fewer than 10 days,” noted Stevan Buxbaum, Executive Vice President of Agoura Hills, Calif.-based Buxbaum Group, one of North America’s largest liquidators and appraisers of retail and wholesale inventories. “The deadline was Dec. 31st, and we were finished with the sale by the 23rd.”

Demand for closeout merchandise continues to be strong among secondary-market buyers, who then resell these pieces to jewelry retailers looking to boost their margins by diversifying their offerings, Buxbaum explained. “We knew exactly which buyers would be most interested in this particular inventory and, sure enough, they responded quickly to this sale,” he said.

In the private treaty sale, New York-based Surya Capital acquired the inventory of Shine Diam, Inc. and J Designs By Shine, Inc. The two bulk lots included more than $1.5 million in diamonds, colored stones, finished jewelry and approximately 17,000 grams of 14-karat gold. All told, the hundreds of rings, necklaces, pendants, rings, bracelets and bangles added up to more than 2,500 carats of diamonds, 11,000 carats of loose gems and 15,000 grams of 14k white and yellow gold pieces, all with stones.

“The secured lenders were quite happy with the recovery, which followed our recent successful sales of jewelry inventories from retailers and manufacturers such as Henrick’s Jewelers and House of Taylor,” Buxbaum said. “Like the rest of retail, the jewelry industry is looking for value, and closeout merchandise offers an excellent opportunity for chains to diversify their offerings at low cost.”

The current interest in gold as a repository of value also contributed to the success of this sale, Buxbaum added. “With the price of gold at approximately $1,100 an ounce, that certainly set a good baseline value for much of this inventory,” he said.

About Buxbaum Jewelry Advisors/Buxbaum Group

Buxbaum Jewelry Advisors has assembled a team of jewelry professionals that have provided wholesale and retail jewelers with financial solutions for more than 20 years. It offers a wide range of services and can meet the needs of both financially distressed and profitable jewelry retailers and wholesalers. It is a division of Agoura bracelets, Calif.-based Buxbaum Group, which has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America.

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