TPG Takes 53% Majority Stake In CAA Overseas Group Launching Bid To Buy Reebok Converse Suing Over Chuck Taylor Copycats Nike Sees 3D Printing As Innovative Tool Adidas Makes Waves With Shoe Hires Nike Golf President Cindy Davis Steps Down ISC's Q3 Revenues Jump 11% Oyo Sports Gets $11M Equity Infusion Adidas Struggling In U.S. Market Nike Leaving Snowboarding, Freeskiing Industry
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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).