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Thursday, November 18, 2004

Reuters has reported that Philip Knight, co-founder of shoe giant Nike, Inc. will step down as the company’s CEO and President on December 28. He will be replaced by William Perez, current CEO of S.C. Johnson & Son, Inc.

While industry experts consider this to be a good move as the company looks to expand beyond its core market, analyst Jamelah Reddy expressed surprise that an individual from outside the company was brought in rather than tapping one of Nike’s co-presidents. Reddy said Knight was “leaving big shoes to fill.”

The move is a blow to activist organizations which have targeted the company for its use of sweatshop labor and other practices. For example, the progressive anti-consumerism magazine Adbusters recently introduced their “Black-Spot Sneaker” which they promote as being “for just one thing: kicking Phil Knight’s ass”.

Nike spokesman Kirk Stewart said Perez was chosen for his experience in dealing with international markets and brand-building, an important skill as Nike continues expansion internationally. Nike’s international sales now surpass domestic sales, reports Bloomberg.

According to ESPN, Knight was responsible for Nike’s endorsement contract with Michael Jordan, signed in 1984 when he was still a rookie with the Chicago Bulls. Jordan said of Knight, “To me, Phil Knight will always be recognized as a sports marketing visionary — he will always be a part of Nike. I learned so much about the industry from him and will always admire his drive and creativity.”

Knight, who according to Forbes gave no reason for his departure, intends to retain his position as the chairman of Nike’s board of directors. He will also hold on to his 28% voting share in the corporation, as well as his 92% share of the non-voting stock.

Friday, November 2, 2012

Incumbent U.S. President Barack Obama and Republican presidential candidate Mitt Romney have returned to campaigning after taking time out due to Hurricane Sandy.

On Wednesday, Obama visited New Jersey, meeting with Governor Chris Christie in Atlantic City, and spoke to victims of the storm at a community center in Brigantine. Obama earned the praise of the Republican governor who said “[Obama had] sprung into action immediately”. The President’s reaction to the storm also earned him positive polling, with a Washington Post/ABC survey saying 8 out of 10 respondents thought Obama had responded in a “good” or “excellent” manner to the storm.

After restarting the campaign, Obama has campaigned in Wisconsin where he has attacked Romney’s proposed policies as being the same as those of George W. Bush. “Governor Romney has been using all his talents as a salesman to dress up these very same policies that failed our country so badly – the very same policies we’ve been cleaning up after for the past four years – and he is offering them up as change.” said the President.

Yesterday, the independent mayor of New York Michael Bloomberg gave his endorsement to Obama. With several areas of New York affected by flooding from Hurricane Sandy, the former Republican mayor said Obama’s stance on climate change factored in his decision. Writing an editorial for Bloomberg View, the mayor asserted: “Our climate is changing. And while the increase in extreme weather we have experienced in New York City and around the world may or may not be the result of it, the risk that it may be — given the devastation it is wreaking — should be enough to compel all elected leaders to take immediate action.”

Bloomberg said Obama had taken action to deal with climate change; has proposed measures to reduce emissions from cars and power plants. Bloomberg explained he could not support Romney as the Republican challenger had changed his position on several issues. “In the past he has taken sensible positions on immigration, illegal guns, abortion rights and health care – but he has reversed course on all of them, and is even running against the very health care model he signed into law in Massachusetts,” said Bloomberg.

Bloomberg did however have some criticism of Obama. He said that Obama had “engaged in partisan attacks and has embraced a divisive populist agenda focused more on redistributing income than creating it.” Responding in a statement, Obama said he was “honored to have Mayor Bloomberg’s endorsement”.

Romney spoke at an event in the city of Roanoke, Virginia, criticising Obama’s proposal to create a cabinet-level position for business development. In his speech in Virginia, Romney stated: “I don’t think adding a new chair in his cabinet will help add millions of jobs on Main Street. We don’t need a secretary of business to understand business. We need a president who understands business and I do.” Romney also launched a TV advert which stated that the idea represents a broader failing of the Obama presidency by suggesting that Obama’s “solution to everything is to add another bureaucrat.”

After speaking in Roanoke, Romney spoke in Doswell, Virginia. His speech was interrupted by a protester who shouted “Climate change caused Sandy! Let’s get real!”

Romney plans to make a last-minute campaign stop in Pennsylvania on Sunday.

Jill Stein, the presidential candidate for the Green Party of the United States, was arrested on Wednesday in Winnsboro in east Texas for misdemeanor criminal trespassing while trying to bring food and confectionery to environmental protesters who have been camping in trees for over a month to protest the construction of the Keystone XL pipeline. Stein has been released pending a court date.

Friday, December 12, 2008

A US$14 billion bailout package deal for the “Big Three” United States automakers — Chrysler, Ford, and General Motors — has been rejected in the United States Senate after failing a procedural vote.

The bill was rejected after bipartisan discussions on the bailout broke down when Republican Party leaders insisted that the United Auto Workers (UAW) union agree to increase wage cuts by next year in order to bring their pay into line with those of Japanese automobile companies in the United States. The UAW refused to meet the demands.

The final vote count in the Senate was 52-35, eight short of the 60 needed to pass. Only ten Republicans joined forty Democrats and two independents in voting for the bill. Three Democrats voted with thirty-one Republicans against it.

Senate Majority leader Harry Reid said that he was “terribly disappointed” by the failure of the bill to pass. “I dread looking at Wall Street tomorrow. It’s not going to be a pleasant sight,” Reid said. “Millions of Americans, not only the auto workers but people who sell cars, car dealerships, people who work on cars are going to be directly impacted and affected.”

Republican Senator Bob Corker was also unhappy about the rejection. “We were about three words away from a deal. We solved everything substantively and about three words keep us from reaching a conclusion,” he said.

Some Democrats now want U.S. President Bush to reserve a portion of the $700 billion bailout package earmarked for Wall Street to assist the flagging car industry.

Stock markets worldwide fell dramatically on the news, with Japan’s Nikkei average losing 484.68 points, or 5.6 percent, reaching a level of 8253.87 points. Shares in the auto companies Toyota, Nissan and Honda all dropped by no less than 10 percent apiece. European stocks, such as those in the United Kingdom and Germany, also lost ground, with the FTSE-100 index of leading shares falling 176.3 points to a level of 4,211 at midday.

Thursday, July 13, 2006

As many as eight people have been injured after two cable cars collided at the Nevis Range near Fort William in Scotland.

Two RAF helicopters, an air ambulance, four ambulance crews, police, fire brigade and a mountain rescue team are among those present. Police have confirmed that three people have been injured, including one child. Injuries include broken legs, head and chest injuries. The Scottish Ambulance Service have reported that up to seven people had been thrown on to the hillside. A reporter at the scene said one car near the top of the mountain had slid down a cable, hitting another and then one of the cars fell to the ground.

Northern Constabulary have stated “It’s understood that two gondolas would appeared to have collided and a number of casualties have been reported. The local mountain rescue team, Inverness helimed and other air support are in attendance to remove casualties”.

The Doppelmayr gondola system is made up of eighty six-seat closed cabins running on a continuous 4.6km steel cable.

Monday, February 1, 2010

A decades-old building collapsed along Ma Tau Wai Road in Hong Kong at about 1:30pm on Friday, local time. That building was located at 45J, Ma Tau Wai Road in Hung Hom. A shop on its ground floor was undergoing renovations when the building collapsed. The street was full of dust afterwards. Firefighters arrived at the scene to search survivors and they asked residents in the buildings nearby to evacuate the area. Those buildings included 45G and 45H.

Chief Executive Donald Tsang called for an investigation into the cause of the building collapse. He aimed at preventing similar incidents. The government required all old buildings with similar structures to undergo inspection, according to Secretary for Development Carrie Lam.

The government has confirmed that four people were dead in the incident. Rescue efforts ended on Saturday morning when the government confirmed that no one was missing. Lam visited the scene on Saturday afternoon and sought advice from the police and Buildings Department. The police has started its investigation into the incident. Secretary for Labour & Welfare Matthew Cheung said that the government would do its best to meet the victims’ needs.

The collapsed building was more than 50 years old. The government had inspected its five-storey structure before the incident and had ordered repairs. After the tragedy, the government announced that it would inspect buildings older than 50 years in one month. The government has restricted access to buildings at 45G and 45H as they were in danger.