De Beers Loses $521 Million!
De Beers net earnings fell into the red from a profit of $730 million in 2006 to a LOSS of $521 million in 2007. Diamond sales fell 3 percent to $6.4 billion.
In the year 2007, where prices and sales of diamonds were very strong, for every well managed company in the world, we can ask ourselves, how come De Beers in its dominant position, is unable to generate profit? Accounting schwindle? Bad strategy or incompetent management?
In the year 2007, where prices and sales of diamonds were very strong, for every well managed company in the world, we can ask ourselves, how come De Beers in its dominant position, is unable to generate profit? Accounting schwindle? Bad strategy or incompetent management?
posted by ziv at 10:10 AM
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