Maybe I don't understand well enough how to efficiently run a business, but it undoubtedly seems to me that Nike has long since lost its compass and is going in the wrong direction. Some business moves are very disappointing and their effects are yet to be felt. I hope I’m exaggerating, but I no longer trust this management to do the right thing.
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Nike stock is still north of $130 a share, so something must be going right if Wall St. foresees all those $$$$.
Huh lmao
What employees of Nike seem to not understand, is the PHK controls the BOD completely through the Swoosh Trust and the Two classes of stock that he employed at the companies IPO in 1980.
Anything and everything that is happening at Nike, is because that is what PHK, and his well paid Guardians at Jasper Ridge, and now Travis with his SEC declared tax free position, want to have happen.
PHK always thought the stock, and all that hard work by you folks, folks going way back, was under appreciated, and or misunderstood by Wall Street and Institutional investors.
It has been a GRAT run since 2015, better than almost anyone could have imagined, dodging and weaving his way through more history than he could have ever foreseen.
PHK( with the fundamental grounding of Penny), Phil was prepared to grind this one out.
Phil is likely the most educated Billionaire in the top 30, certainly the only one with an MBA from a top 5 school. It was a ballsy plan, that has returned spectacturily for all shareholders, and obviously hugely for the largest single shareholder, PHK and family, and those GRAT Trusts for all his extended family and friends.
So this is the plan, maybe not the original plan, but this is the plan, and if it is causing the company to devolve, doing away with all those expensive trapping to the Nike myth, that is what he wants. he has secured the distributions and the wealth score he deserves, a true Entrepreneur.
PHK always knew he was an employer, that could pay less, because people felt living in Oregon was a significant compensation of it's own, not sure he saw the Romanian takeover of his beloved Portland. Can not imagine what Bowerman would have said about the anarchy, and it being unchecked by any native Oregonians.
If this is a spiral, than it is what is intended, ballsy to play a stock all the way up, then play it down, all those beautiful Stanford graduates working at Jasper needed something to do, and who could have foreseen China.
PHK's greatest strength, like real athlete he was, is he is prepared to not give up, collapse maybe, but like his hero Captain Nesmith, Never Give Up....Never. Surrender.
Captain Nesmith is the actor who has accepted the role of PHK in the Netflix Movie, Shoe Dog.