Young pro athletes often burn through big money contracts, but Philadelphia 76ers phenom Michael Carter-Williams is going to an extreme to protect himself.» Read More
My sources at Nike are telling me that if, as expected, sprinter Marion Jones admits to using steroids during the 2000 Olympic Games, the company will not seek to recover endorsement money it paid her.
Earlier this week, I sat down with seven-time Tour De France champion Lance Armstrong. Here's a transcript of our conversation: Darren: When Nike came up with the idea to do "Livestrong" bands to raise money for cancer through your charity, the Lance Armstrong Foundation, what did you think?
Some of the best business stories are behind the emerging Cinderella. I covered Gonzaga's merchandising boom from their NCAA Tournament runs and Boise State's merchandising royalty run as they became the most prominent non-BCS football program in the land.
There is no team in professional sports that works harder to get season ticket holders than the New Jersey Nets. I’ve been to homes where they’ve catered a party for a high net worth season ticket holder to try to convince his friends to buy seats. And I’ve been to a playoff game where Nets general manager Ed Stefanski gave a speech to wavering season ticket holders at halftime to convince them to commit to another season.
Congratulations to ESPN The Magazine and BusinessWeek for putting together an awesome sports business issue. It's a must-read if you like the business of sports. Their Power 100 is of course meant to be debated, so I'm going to make a couple comments here.
Just when you thought that all the advertising space was occupied on the field, here comes the folks from EyeBlack.com. The company will sell millions of pairs of EyeBlack--yes, the stuff that's supposedly used to cut down on glare--with college and high school logos on it this year.
Stocks closed higher after strong corporate earnings and a weaker yen encouraged investors already re-energized by recent rate cuts by the Federal Reserve. "With the yen weaker today you're seeing some money flow back into some of the riskier assets, U.S. stocks included," said David Lutz, senior trader at Stifel Nicolaus.
European stocks closed the week moderately higher, but volatility is seen ahead as investors worry about the effects of soaring oil prices and a weaker dollar on inflation in the U.S.
Nike beat estimates and had impressive growth globally--50% increases in sales in China! Nike is typical of the new breed of truly international companies: International sales are now 60% of total sales.
Oil might be above $80 a barrel, but Texas billionaire Boone Pickens probably has mixed emotions these days. Why? Because his Oklahoma State football team is not good. I'm a big college football fan and I thought they actually had a chance to show up atop the Big 12 this year, yet his Cowboys got waxed by Troy 41-23 last Friday (Boone flew in to Troy, Ala. for it).
Nike said first-quarter earnings per share jumped 51% to $1.12, versus 74 cents in the year-ago quarter, beating Wall Street estimates.
Two days after Federal Reserve Chairman Ben Bernanke got a vote of confidence from the markets for the Fed's half point rate cut, he and Treasury Secretary Henry Paulson head to Capital Hill for a hearing on the mortgage mess. They appear before the House Financial Services Committee starting at 10 a.m. Thursday.
Nike executives say they will discuss the financial impact of its relationship with Michael Vick Thursday during a quarterly earnings conference call.
The 2008 Olympic games are in Beijing. The city alone is investing nearly $40 billion to put on China's best public face to the world. From subways to stadiums, water treatment projects to wireless systems, companies around the world are landing big contracts to help China make the best of its coming-out party. But one big question remains…is China actually fixing its problems - or just sweeping them under the rug until the world looks away?
USC students fire away at Cramer on Starbucks, Under Armour, Caterpillar and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Here's our Fast Money Final Trade. Our guys give you the last word in trading China.
To the dismay of many of you, I have to get on to covering something other than Ana Ivanovic, so today will be the last day (at least until next week, if she makes a run at the U.S. Open) I'm going to focus on her story. First, to the business. If you haven't already, or would like to look again, check out the beautiful slide show we made.
With the start of the U.S. Open today, I am hereby declaring it National Ana Ivanovic day. I'm sure the government won't sanction it because she's not an American citizen, but so what? The fifth-ranked tennis beauty is playing Aiko Nakamura today in Louis Armstrong Stadium. All day on CNBC, you'll see the awesome story of Ivanovic, who could be the next force in the sports marketing world if she wins the final grand slam of the year.
On the day that Atlanta Falcons quarterback Michael Vick pled guilty to charges related to dogfighting, Nike announced on Friday night that it has ended its relationship with its former endorser.
It doesn’t take much skill to discover who’s now. It’s a little bit better to call who’s next. So I’m doing it right now. Ana Ivanovic is the next Maria Sharapova. And the only thing Maria can do about it is make sure that she has a better record on the court than Ivanovic. Because the marketing momentum of this 19-year-old Serbian seems to be unstoppable.