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NIKE KEEPS ITS "SENSE OF HUMOR" IN GLOOMY ANNUAL REPORT

          Nike "lost its momentum and 1,600 employees in its last
     fiscal year.  But it didn't lose its sense of humor,"
     according to Jeff Manning of the Portland OREGONIAN.  Nike
     released its annual report this week which featured "an
     outspoken, often hilarious sampling of the reams of customer
     mail it receives each year."  One such example: "... your
     actions so disgust me that I will never buy one of your 
     products again.  I hope my attitude proves to be universal." 
     In its report, Nike printed "both touching homages to the
     Swoosh from devoted customers and angry screeds over the
     company's labor practices."  Nike managers "thought offering
     up the public sentiments, as a sort of independent view of
     the company, would be a refreshing change of pace."  The
     project's senior writer, Bob Lambie: "This was an
     opportunity to, instead of Nike speaking, have consumers
     tell the world what they think of the company."  Nike
     received 82,000 letters and 310,000 e-mail messages over the
     last year.  Manning wrote that some messages "are in direct
     contrast to the foreboding reading in the rest of the annual
     report."  Nike Chair Phil Knight "warns in his letter to
     shareholders that no bold turnaround is expected in the
     current year."  Knight: "We'll have good numbers again. 
     It's just not obvious when" (Portland OREGONIAN, 8/13).

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