Nike, Kap, and the cop (pension.)
We have become convinced that the Kaepernick ad is one of the best pieces of advertising of all time. It played across social media. People went nuts for and against. It was Nike Nike Nike for two weeks. Thankfully that particular maelstrom of unimportant insanity has subsided just in time for us to yell at each other over the Kavanaugh nomination. Whew.
Plus we got some FANTASTIC memes out of those two weeks.
But we figured that Nike would likely pay in some ways for its ad. We considered whether pension funds, filled with cop money for instance or military money, might be inclined to drop Nike from their portfolios. In at least one instance this seems to have happened.
We’ll bet Nike will survive just fine, but no one wants to get dropped from a pension fund(s). And certainly Nike would not want this to become a trend.
NJ.com reported that Marty Barrett, a representative of retired police officers and firefighters, asked the State Investment Council to consider divesting from its Nike holdings because of the ad – a request that was readily honored, with the board voting unanimously to review its holdings, which include 311,500 equity shares valued at $26 million and 20 million principal valued at $18 million...
…Perhaps unsurprisingly for a blue state, New Jersey’s SIC has divested stakes in gun manufacturers and private-prison companies following pressure from left-wing groups.
Again, live by the crony sword, die by it.