Suddenly we can see who's doing the work and who's sitting there twiddling their thumbs and taking credit for the work all this time. A Lot of useless VPs gone in one fell swoop. With sports and sponsorships potentially gone for the year, it's time to cut out the non-essentials. Sad, but the company's going to better for it in the long run. Luckily for the survivors, this is one of the retailers that isn't going out of business entirely. Next step should be to rework a lot of those million dollar sponsorships. How many jobs could be saved with Colin Kaepernick's sponsorship deal?
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Entitlement runs high at WHQ. It’s time to cut some fat.
Looking at Nike reminds me of a Twilight Zone episode where heartless owner or CEO fires everybody in the company and replace them with automation until he finds out that he is also replaced himself by a Robot. Lol
That will be called karma for JD
When the VPs exercise their options it will drive down Nike's EPS. Since share repurchase is paused it will only compound the issue. Hard to feel bad for VPs who are getting off with millions while the U bands will be left out to dry.
As former Nike retailer for more than 40 years and Ebay seller while JD was on charge.
I just hope that JD does not do same sh tty job he did at Ebay in Nike because otherwise it is God bless us all.
He is one of the main reason why Amazon blew passed Ebay in early 2010s. Many people missed Meg Whitman but not one, ONE fellow sellers misses JD because he is sociopath and biggest Ahole ever!
And after c-appy job he did at Ebay, he walked away tons of money. No wonder white conspiracy theory abounds.
Anyone in this site that expects to be treated like a human being by JD and Nike upper management, I just hope that you guys come up smell the air and look around.
When Nike cut me as retailer because we became obsolete (we were Nike dealer since 1975 starting with my father) was pretty traumatic. But after 4 years, I will say that my life is much better.
I am not under Nike grind and one way relationship.
So I hope that I hope to give some sort of encouragement with my story.
Right? Having to pay taxes on hundreds of thousands or even millions in capital gains is very far down the list on anyone's list of sad.
Sounds like we have some of those useless VPs posting in this very thread!
If your short term realized gains push you into the top income bracket, you literally have one percenter problems.
@1sbd+166s8QmT There's no way to avoid the capital gains and income tax on gains you're forced to realize. No way to delay the gains until 2021 because Nike won't allow it. First world problems, for sure. But still evidence that NIKE doesn't give a rip about someone they dispatched. But, if you were there long enough, you can still shop at the Employee Store. If you can stand to look at the Swoosh anymore.
Take some of that payout and hire a creative tax guy so you can keep as much of that money as possible.
So what you're saying is that you'd have been better off with no options and no PTO and no severance pay? Talk about your first world problems.
If you are lucky enough to hold any vested options, you'll have to exercise ALL OF THEM by the end of the year and incur the massive short-term capital gains taxes and declare it all as income in 2020! That combined with your PTO payout and any severance pay will guarantee you'll be in the very top tax bracket for the ta year so you can give half of everything back to the government!