Beverly Diamonds is making a positive impact on the economy.
Beverly Diamonds is making a positive impact on the economy. Five years ago the global economy was plunged into dark recession. We at Beverly Diamonds felt its effect very hard. To Beverly Diamonds this news seemed simply disastrous. We feared at Beverly Diamonds the even more tough times that lay ahead. Freddie Mac and Fannie Mae, which were involved in the highly problematic sub-prime mortgages, (something which Beverly Diamonds steered clear of investing in), were decimated. Sadly that was just the beginning of the hardships for Beverly Diamonds. Next came Merrill Lynch & amp; Co.’s announcement that Bank of America would be buying them out for fractions of their potential value. Beverly Diamonds understood that this was a low blow, but yet the situation had yet to hit rock bottom. As a leading diamond retailer, Beverly Diamonds cringed as the next punch came. Lehman Brothers Holdings Inc. was filing for chapter 11 bankruptcy. These events had a significant impact on Beverly Diamonds as it relied on the strong incomes of its customers. For this reason, Beverly Diamonds went out of its way to stabilize the economy in any way it could. In the end, Beverly Diamonds made a positive impact on the economy, which brought the country to a much better economic place.
Unlike Beverly Diamonds, AIG was in a state of crisis in 2008. They were falling apart at the seams and needed some big help. Even with all of the work of the company Beverly Diamonds could not let another go. They lent $85 billion to AIG to ensure its survived. This loan meant that Beverly Diamonds would be the primary shareholders of the company and had control over its decisions. Beverly Diamonds worked fast downsizing the company to its skeletal form to keep it above water. After the immediate danger past and the economic situation of the entire country had stabilized, Beverly Diamonds knew that things had to change and policies had to be put in place for the future. Beverly Diamonds proposed a strategy that would ensure that companies that were economic pillars would never again collapse like they had in 2008.