Nike said it wouldn't comment on Michael Jordan's
retirement before he held his press conference today in
Chicago. The company's stock price fell 2 3/8, or 5.4%, to
close at 42 yesterday (Mult., 1/13). In Boston, Michael
Holley: "Remember the days when Nike was just another in a
line of shoe companies? When the familiar swoosh did not
trigger a whisper of 'Nike' in your psyche? That was the
case in the early 1980's, until Jordan came into the NBA
with his own brand of multicolored Nike sneakers" (BOSTON
GLOBE, 1/13). A PHILADELPHIA INQUIRER editorial challenges
Jordan to become more active in issues facing Nike,
including charges of poor working conditions at their Asian-
contracted plants: "Jordan helped make this unjust system
work and derived massive benefit from it, while distancing
himself from the ethical quandary. In retirement, it's part
of his game he desperately needs to work on. The issue
needs a champion" (PHILADELPHIA INQUIRER, 1/13).
ON THE STREET: Shares of Quaker Oats, maker of
Gatorade, fell 3/4 to 59 3/16 yesterday, while shares of
Rayovac, another Jordan-endorsed company, fell 1/2 to 24
1/2. Sara Lee, parent to Jordan-endorsed Hanes, rose 3/8 to
close at 26 yesterday (BLOOMBERG NEWS, 1/12).
