MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
FREDERICK GOLDMAN INC |
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Registered Office : |
154 W. 14th
Street, New York, NY 10011 |
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Country : |
United States |
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Date of Incorporation : |
07.11.1962 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Wholesaler of Jewellery. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & address
Company
name : FREDERICK GOLDMAN INC.
Address :
154 W. 14th Street, New York, NY 10011 -
USA
Telephone :
212-924-6767
Fax :
212-989-0134
Website :
fgoldman.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
New York State does not
issue organizational identification numbers New York State Corporation - Profit November 7, 1962 - - Jonathan GOLDMAN |
ACTIVITIES
& OPERATIONS
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History: Business Staff: |
The Goldman family tradition or excellence spans a period of over
fifty years. Frederick Goldman founded his company in the late 1940's as a one-man operation specializing
in plain wedding rings. The Goldman line was expanded to include engraved
wedding rings in the 1950's. Today, Frederick Goldman, Inc. is headed by Jonathan Goldman, as
chairman and CEO and his brother Richard as President. The small company founded by their father has grown to become one of
the largest jewelry manufacturing companies in North America offering its
customers a large selection of jewelry products across its many separate
divisions. In addition to being an extremely large user of gold and diamonds,
Frederick Goldman, Inc. is the largest user of platinum in the United States
for jewelry purposes. The success of Frederick Goldman, Inc. is the result of years of
uncompromising dedication to a never-ending quest for manufacturing
excellence. The use of precious metals, precious stones, special finishes and
manufacturing techniques has made us masters in the art of jewelry making.
Innovative and sophisticated marketing programs, developed and offered across
our many divisions, have made the company a leader in the industry. Everyday, from their computer monitors, Frederick Goldman employees
are reminded of the company's mission statement: "Dedicated to becoming
the most valued supplier of high quality jewelry for our customers through
total customer satisfaction." This dedication and single-minded vision
has truly earned Frederick Goldman, Inc. the reputation as America's bridal
jewelry leader. Wholesale jewellery. In addition to ArtCarved and Diana Classic, New York-based Frederick
Goldman's brands include Goldman, Keepsake, Lyric and Triton. 200+ |
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Operations & branches: |
At above address, we find
a large showroom and the corporate office, on lease. |
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SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a privately held and managed company. |
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Management : |
Jonathan GOLDMAN is the
Chairman and CEO. Richard GOLDMAN is the
President. They are 2 brothers. On March 24, 2008, Frederick Goldman Inc. has announced the hire of
award-winning jewelry designer Younhee Shin as director of merchandising,
bridal. Shin will be focused on the Diana Classic and ArtCarved bridal brands. In addition, one of her engagement designs was selected by De Beers to
be part of a national advertising campaign. Shin is a graduate of the Accademia di Costume e di Moda in Italy, and
has designed exclusive collections for A. Jaffe, Crocetti and Nili Jewelry. Her design aesthetic is both
classical and modern, reflecting a style that draws upon a broad range of
cultural influences. |
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Subsidiaries & Partnership : |
None |
FINANCIALS
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In United States, privately
held corporations are not required to publish any financials. On a direct call, nobody
accepted to answer our questions. We sent a fax but no
answer was received. However, sales estimate
for year 2007 is in excess of USD 20,000,000= The business is said to
be profitable. |
Banks
JP Morgan Chase
LEGAL FILINGS
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Legal filings
& complaints : |
As of today date, there
is no legal filings pending with the District Courts. |
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Secured debts
summary (UCC) : |
There are several UCC files. |
MARKET
ANALYSIS & FORECAST
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In the New York State,
during the year 2007: - 52% of the corporations
in same branch were developing the business on a low risk of late payment, - 40%, on a medium risk,
and - 8% on a high risk of late payment. - 92% of them saw sales
stable versus last 3 years - 4% declining - 4% growing A high percentage of late
payment may indicate that companies in this industry are experiencing cash
flow problems, that suppliers generally accept late payment as part of doing
business, or that on-time payment is not customary in this industry. Companies entering such
markets should not expect to be paid on time. The market appears to be
stable. |
COMPANY
CREDIT HISTORY
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According to our credit analysts, during the last 6 months, 96% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 2 to 5 days
beyond terms. The Company maintains a
regular business. The banks and financial
institutions confirmed a satisfying credit history. The risk is low. Our opinion: A business connection may
be conducted. |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)