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Yes, perhaps only De Beers thought that diamonds would prove recession-proof. But the world's biggest diamond company really did seem to think it—enough to launch a new marketing campaign that presented the gems as a classic investment in anti-consumerist values. Did it work? Well, writes the Financial Times, De Beers slashed its first-quarter production by 90 percent to stay afloat. It's not just De Beers that's hurting. Tiffany's fourth-quarter profits fell by more than 75 percent, more than 1,000 jewelers in the United States closed in 2008, and analysts estimate that diamond prices have fallen anywhere from 30 to 70 percent from their peak in 2008.
The recession is hurting many families and companies across the country, but there are a few bright spots. Who do you think is a recession winner? And who are the biggest recession losers?