Nike lost $28,000,000,000 today.

No worries. I’m sure that’ll buff right out.

Seriously though, it’s the biggest single day decline since Nike went public in 1980. 44 years ago.

I posted on here a month or two ago and said “This Nike slump feels different from previous slumps. It feels more ominous. More urgent. Like there’s more at stake.”

What happened to the innovation and product engines? To where did they disappear? And marketing? Why did Nike just stop doing what Nike is best known for?

JD gets a lot of heat on this site. Some of it gratuitous, most of it deserved. This failure of Nike to be Nike happened on his watch. Board of Directors, it’s now time to earn your extremely generous compensation by doing the rightful. There are still people at Nike who can re-steer the ship. Few of them are currently sitting in leadership’s chairs. That needs to change. Yesterday.

Enough.

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All of this started the day MP mentioned the $50 billion target at an earnings call. That dat marked the start of only focusing on short term financial goals.

“What happened to the innovation and product engines? To where did they disappear? And marketing? Why did Nike just stop doing what Nike is best known for?”

^^this 100%

He will continue to ignite innovation and newness, until furniture, buildings, and office supplies are liquidated. You see he grew up in Bain and he knows exactly how to “manage out” an iconic brand out of Dow 30 list.

“ There are still people at Nike who can re-steer the ship. Few of them are currently sitting in leadership’s chairs. That needs to change. Yesterday.”

This couldn’t be more true. If it isn't… Nike is quite frankly sc--wed… Get rid of the story-telling yes (wo)men who prioritize their own security and have no clue how to stand up for the right business decisions. Appoint people who actually understand the business and battle for the brand.

Petition to let MN go from NSRL#MNresign

JD ignited the innovation pipeline with newness and its all exploding now 💥

Thread regarding Nike Inc. layoffs

Nike lost $28,000,000,000 today.

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