A Kiss On The Hand May be Very Sentimental, but Lawyers Are a Guys Best Friend

 

Courts take on De Beers diamonds, one of the oldest and biggest cartels in the world. De Beers throws money at the problem to make it go away. If you bought a diamond recently you can get some of that money.

1. But the bottom line is this:

   “Several class-action lawsuits were filed asking for money damages on behalf of diamond purchasers. The lawsuits also asked that the defendants stop certain business conduct.”

   If they settle out of court by paying the money, they don’t have to care about the business conduct. In fact, because

   “This means the Class Members may not sue any Defendant ever again about any past, present or future claims based on or related to the conduct covered by the lawsuits.”

   They have basically bought PERMANENT protection of their business practices. Cheap at the price, huh?

   Posted by GrumpyOldFart       01/12/2008  at  02:04 AM  



2. No offense to GrumpyOldFart (takes one to know one ), but yours truly is more than glad to get some partial compensation for the “ice” I bought for the then “love of my life” (/sarcasm) not that long ago. She dropped me but held onto the bright and shiny.
   WE (men as a whole) ALWAYS PAY FOR IT!, one way or another.
      

   Posted by memoryleak       01/12/2008  at  03:22 PM  



3. I agree the entire diamond market is a huge scam that continiues to this day selling grossly overpriced diamonds. This is just a slap on the wrist to Debeers. Diamonds are NOT rare. Their main benefits come from sawing, drilling and grinding things. They are also boring. The other colored gems are far more attractive.

   Posted by Paul "No Fear" Weir       01/13/2008  at  10:10 PM  



4. I don’t blame you at all for wanting some of your $$$ back, memoryleak. I just find it amusing that what is being touted in the news as a *punishment* is actually the GOLDEN DEAL OF THE CENTURY for DeBeers. I feel certain they’re creaming their jeans at the thought of having their business practices protected from future complaints at such a cheap price.
   And yeah, my personal opinion is the same as Paul’s. I find “semi-precious” stones like lapis or agate to be prettier than diamonds. Emeralds, rubies and sapphires all call to me MUCH more than diamonds ever will.

   Posted by GrumpyOldFart       01/14/2008  at  11:29 AM  

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