Last call for Chuck Taylors, ladies and gentlemen; last call.
Well, fuck. Nike’s trying to buy Converse:
Converse sales steadily declined in the 1980s and ’90s, and its parent company filed for bankruptcy in January 2001. Later that year, the company was bought for $117.5 million by private investors who have tried to revive the brand. They filed to make an initial public stock offering sometime this year valued at $300 million, but it stalled when Nike came knocking, analyst Shanley said.
Maybe we could get Moveon.org to take some time out from pushing Congress on WMD fact-finding, standing up to President Bush’s extremist court-packing, and overturning the FCC’s rampant stupidity, to organize a letter-writing campaign to the FTC? Get them to reject the deal on the grounds of simple human decency? This, after all, is what the deal stands for:
The marriage of the two brands gives Nike a way to shore up its low-price product line without diluting its marquee image, industry observers said. Converse also gives Nike further ammunition to capitalize on a consumer craze for products with retro and classic styling.
It’s like thinking you can get better eggs by dipping the goose in gold. —Sigh.
Bonus giggle up the sleeve, also from the Oregonian article:
“It’s a step in the right direction,” said John Shanley, a Wells Fargo Securities analyst in New York who doesn’t own shares of either company.
—Emphasis added. I don’t follow the financial press much. Is that sort of disclaimer de rigueur, these days?
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And I thought, from the title, that you'd turned your forensic powers to the Liberian leader. Ah well, maybe another day.
Dammit, qB beat me to it!!
You should know I would never refer to a financier of Al Qaeda and friend of Pat Robertson by the overly familiar, folksy moniker of "Chuck."
To answer your last question—yes, I think so. The financial press, especially CNBC, has gotten flak for its role in hyping investments without disclosing the financial interests of the experts it consults.
tight
tight
nike please dont buy! i love my green shoes
And my white ones 4 gym!