Dalian Wanda Buys Ironman For $650M Nike Dragged Into Armstrong-Gov't Dispute Clemson Extends Apparel Deal With Nike Nike, Adidas Continue Shoe Push In Asia Nike To Open All-Jordan Store In Chicago Michigan FB To Don Jumpman Logo Jordan's Publicist Details Sponsorship Business Vera Bradley Unveils New Collegiate Line NYRA's Operating Loss Spikes Despite Triple Crown Symmonds Missing Worlds Over Nike Dispute
Published November 25, 1997
CNN's Lou Dobbs reported that Nike fell yesterday 2 1/8 to 48 3/4. Dobbs added that Donaldson, Lufkin and Jenrette trimmed Nike's earning estimates, expecting international sales to fall rapidly" ("Moneyline," CNN, 11/24)....PCH Investments, owners of L.A. Gear, said that the CA-based company "will default" on a November 30 payment "on certain notes, and added that it hasn't paid cash dividends on its preferred stock." The stock closed down $0.0625 to $0.625 (WALL STREET JOURNAL, 11/25). CNBC's Terry Keenan: "Another sign ... that L.A. Gear may be in a lot of financial difficulty. The retailer of athletic footwear says that it has, quote, insufficient resources, to pay interest on some of its outstanding debt" ("Market Wrap," CNBC, 11/24).