RAPAPORT... Blue Nile expanded its board of directors to eight members with the addition of Michael Potter and Steve Scheid this week.

Potter served as chairman and CEO of Big Lots Inc., from June 2000 through June 2005, and has prior executive experience at retailers The Limited Inc., May Department Stores, and Meier & Frank. Potter currently serves on the board of directors of Coldwater Creek Inc.

Scheid serves as the chairman of Janus Capital Group Inc., and served as chairman and CEO of Janus from  April 2004 to December 2005. Scheid also held an executive post at Charles Schwab & Co., including the role of vice chairman of The Charles Schwab Corporation and as president of Schwab's retail group. Scheid currently serves on the board of directors of PMI Group Inc.

"We are delighted that Mike and Steve are joining our board of directors. Both are talented individuals who bring a broad range of strategic and leadership experience to our board," said Mark Vadon, Blue Nile's chairman and CEO. "This will be extremely valuable to our business as Blue Nile continues to grow in the years ahead."