Lots of amazing people at Nike. Hard working thoughtful amazing people. And a great brand. So sad to see a complete leadership failure at the top. Politics and a fear based culture resides. A CEO who prefers to dodge difficult decisions and would rather sketch shoes or abdicate. A senior team who has only grown up at Nike. An HR function that kowtows and plays to internal politics. So sad and a shareholder travesty. Only a matter of time before a class action lawsuit forms to shine the light on negligent and gross misconduct. Fat cats need a haircut. Arrogant homegrown leaders need to be replaced. Sycophant Guardians of the culture should receive the boot, and be replaced with lower level leaders not married to political muck. Too hard for home grown to step aside tho so hard workers will continue to bow down to a senior team swimming in their own muck of arrogance and illusion. Shareholders unite and push the dogs of the Dow out.
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I know a lot of people who just don't give a crap anymore... it's just a paycheck now. Sick of the hollow words. Sick of the lack of leadership. Looking for other work... I can't believe it's happening.
i am a Nike employee. It feels like the company is on life support. The leaders are trying to bring us together but we don't trust them now. Loyalty is gone. No one wants to work hard for this company anymore. People come in late and leave early. That is if they even come at all. Freestyle has made it hard to monitor.
Referencing a LT stock price history is Never irrelevant, ask any CFP...that # is a component in 'technical analysis'. Stock splits have no barring on stockholder equity...look it up.
Nike is now, perhaps, a "hard-bitten" corp., whose Execs lack accountability for their questionable actions, and and these factors are dragging down the stock price, and 'mule-kicking' employee moral (no offense to mules). But to reckon that this means the end of NKE is foolish. Just look at GE, or IBM...Nike may now be in that long, slow slide to oblivion--but if so, will be a very slow slide, with a market cap this big.
Everyone thinks their time at the wheel is The Pivotal Moment. Ayn Rand said much the same, back in ~ 1960, yet here we are. Nike will be around for a bit...but their current tenured employees may not be.
Hard luck if you were laid off...I was as well, in 2009. Nike Execs are losing the plot, but aren't taking the heat. Nothing new to see, here...move along.
"Lots of amazing people at Nike. Hard working thoughtful amazing people. And a great brand. So sad to see a complete leadership failure at the top. Politics and a fear based culture resides. A CEO who prefers to dodge difficult decisions and would rather sketch shoes or abdicate. A senior team who has only grown up at Nike. An HR function that kowtows and plays to internal politics."
Wow, this poster hit the target. I used to work in HR at Nike, with some of the top HR leadership, and I can tell you 100% without a doubt that the remarks about HR above are true. It was incredibly upsetting. Worst job I have ever had, worst and most corrupt HR institution I've ever seen in action- And I've worked for some world leading companies so I know the playing field. The politics and lack of spine from these people was absolutely shocking.
@Barbarossa
Kool aid is good isn't it? Referencing their long term stock price is completely irrelevant. You would need to regency their price since the last split. Also 1 Morningstar rating doesn't mean much, maybe reference how many have it overvalued as well or a target price, which the majority now have between $48 & 52.
What has the company done since the '09 layoffs that make you believe they are moving in such a positive direction? Is it becoming such a premium brand, which the customer doesn't want? Or maybe their recent lack of innovation mishandling of inventory? What about keeping up with changing customer demands, yeah kinda missed on that one also. Or heaven forbid what happens if the customer decides to go away from athletic shoes again like the late '80's?
But then again maybe Adidas passing Jordan shows their strong leadership? Combine that with Nike and the category as a whole losing sales while Adidas gains market share, but that shows how strong their leadership is right?
"This is the beginning of the end"...well, for those sad sacks that were cut, one could say it's the 'end of the end'. But for Nike, Inc., this is hardly so. Missteps? Sure, but not the end-of-times.
Think this is the first time NKE has been down? Check the NKE long-term stock price history on morningstar.com, google finance or any other such personal finance site. Granted, Nike got fat, and has recently made some cuts. Did you mistake CEO MP or the Board for Johnny Appleseed? The execs do indeed have a long-term plan; do you? For anyone thinking that they will retire working for their current employer--check the calendar, and get a grip.
Morningstar currently rates NKE at 4 out of 4 stars, with an "undervalued" rating. NKE stock price has a 19% discount to Fair Value. Saying, "While Adidas Is Far From a Bargain, Investors May Want to Stock Up on Nike and Under Armour".
Get ready, kids, probably more cuts to come. And has an FTE, if you didn't participate in the ESPP, with it's discounted stock buy-in price...that was indeed foolish.
@2jxr , that's great when it doesn't affect many thousands of people.
For those of you in the cheap seats. It's easy to take shots unless you're a sitting CEO for a fortune 100 company think again.
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
― Theodore Roosevelt
Ditto. I have friends at Nike so want to see them succeed. It needs an overhaul at the top. Have a handful of leaders who give a rip about people and culture like the ones running design and innovation. Not everyone is corrupt there. For every hellish action someone does there are individuals quietly doing good. Need to separate the wheat from the chaff. Problem is the chaff is ruling the place right now.
Well said.