{"id":43754,"date":"2019-07-08T18:50:24","date_gmt":"2019-07-08T22:50:24","guid":{"rendered":"https:\/\/thelehighacresgazette.com\/news\/?p=43754"},"modified":"2019-07-08T18:50:32","modified_gmt":"2019-07-08T22:50:32","slug":"nike-too-big-to-fail","status":"publish","type":"post","link":"https:\/\/thelehighacresgazette.com\/news\/2019\/07\/nike-too-big-to-fail\/","title":{"rendered":"Nike, Too Big To Fail?"},"content":{"rendered":"\n
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By Glenn Mollette<\/p>\n\n\n\n

We have watched corporations and famous Americans have ups\nand downs throughout the years.<\/p>\n\n\n\n

We’ve all watched as Tiger Woods, Robert Kraft, and most\nrecently, billionaire Jeffrey Epstein have had low moments.<\/p>\n\n\n\n

Sadly, we heard last weekend about coal billionaire Chris\nCline’s tragic and fatal helicopter crash.<\/p>\n\n\n\n

Time and again we learn none of us are too famous, too\nsuccessful or too rich to encounter a human downward life turn and tragedy.<\/p>\n\n\n\n

The Nike athletic shoe and apparel corporation is the world\nleader in athletic and apparel sales. They made about $34 billion in 2017. They\nhave a global presence of athletic sales in over 160 countries. Their products\nare sold through 22,000 retail accounts worldwide. They are the largest\nsupplier of athletic footwear in the world. <\/p>\n\n\n\n

Almost all of Nike shoes are made outside the US in Asia and\nLatin America. Nike does not make the shoes themselves but they contract\nproduction out to other companies. There are various reports about who Nike\nemploys and how much their workers make. One report claims Nike has 100,000\npeople making their shoes in Indonesia and that these workers make about $3.50\nper day or about $3,500 a year. Thus, Nike is very profitable and has massive\ndollars for marketing.<\/p>\n\n\n\n

For example, Nike entered into a $50 million endorsement\ndeal with tennis star Serena Williams in 2003. When golfing star Tiger Woods\nturned pro in 1996 Nike lavished him with a $40 million five-year golfing\nendorsement. They would later go on to pay Woods $30 million a year in\nendorsements. From 2002 to 2012 Nike paid Michael Jordan $44 million a year to\nrepresent their brand. They still pay him. Forbes estimated Nike paid Jordan\n$100 million in 2015 as Jordan’s brand still made $3 billion for Nike in US\nsneaker sales. Lebron James is reported to receive as much as $1 billion from\nNike in endorsement money by the time he is 64 years old.<\/p>\n\n\n\n

Colon Kaepernick was already on Nike’s payroll before he\nbecame controversially famous for not standing for the National anthem. Nike\nwasn’t using him and reportedly didn’t know what to do with him until he became\nfamous over his social issue stance. Kaepernick is currently not playing\nprofessional football. No one has signed him after he became a free agent but\nhe is making millions a year by being the face of Nike’s revived “Just Do\nIt” campaign.<\/p>\n\n\n\n

Recently Kaepernick ignited controversy by reportedly telling\nNike to pull its Air Max 1 Quick Strike Fourth of July sneakers. Nike said he\ntold the company he believes the colonial flag used on the shoes is offensive,\nbecause it was flown when slavery was legal. While there has been much\nconsternation toward Nike’s decision, Nike’s stock has risen $3 billion within\nthe last week. If you can find a pair of the Betsy Ross shoes, they are going\nfor about $2,500.<\/p>\n\n\n\n

The question is this, Can Nike do no wrong? Are they too big\nto fail? Nike is utilizing controversy well to breathe new air into its\nproducts. With major national sports figures wearing and promoting the Nike\nbrand and cheap Asian labor Nike has locked into a formula that appears\nunstoppable.<\/p>\n\n\n\n

Nike will continue on their path of global success if the\nAmerican people buy their products. It’s a free country. If Americans decide to\nstop buying Nike products it would be financially troubling. Either way, Nike’s\ncontinued success or failure will be decided by how Americans utilize Nike’s\nslogan, “Just Do It,” and how Americans decide to “Just Do\nIt.”<\/p>\n","protected":false},"excerpt":{"rendered":"

By Glenn Mollette We have watched corporations and famous Americans have ups and downs throughout the years. We’ve all watched as Tiger Woods, Robert Kraft, and most recently, billionaire Jeffrey… <\/p>\n","protected":false},"author":8,"featured_media":43755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/43754"}],"collection":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/comments?post=43754"}],"version-history":[{"count":0,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/43754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media\/43755"}],"wp:attachment":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media?parent=43754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/categories?post=43754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/tags?post=43754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}