Nike
In 1978, the company settled on its final name, which is taken from the goddess of victory, Nike, in Greek mythology. The company owns many subsidiaries including Hurley International, Umbro and Converse. On top of manufacturing sportswear and equipment, Nike also operates retail stores under the Niketown name. The famous “Swoosh” logo company sponsors many high profile athletes and sports team around the world, with the highly recognized trademark of “Just do it.”
Nike has more than 500 locations around the world and offices located in 45 countries outside the United States. Asia hosts most of the factories, with locations in Indonesia, Taiwan, India, Thailand, Vietnam, Pakistan, Philippines, Malaysia, Republic of Korea and China of course. Nike is reluctant to display information about the contract companies it works with. However, following some fierce criticism from pro-labor organizations, Nike declared that starting in 2009 they will begin to provide minimum wages to their workers and health insurance for all personnel employed under the Nike company.
Nike has been criticized for contracting with factories in countries such as Mexico, Vietnam, Indonesia and especially China. In 1996, Vietnam Labor Watch, an activist group, displayed documents showing that factories contracted by Nike have no regards for minimum wage and overtime laws in Vietnam. Even though Nike claims this practice came to an end, the company has been targeted for poor working conditions.
In the 1990’s, Nike was targeted for the use of child labor in Pakistan and Cambodia in factories it contracted to produce soccer balls. Nike apparently reacted by reducing child labor. Nevertheless, the company continued contracting their production to companies that operate in areas where incomplete regulation and monitoring make it hard to ensure that children are not being employed.
Despite being the target of anti-globalization campaings, Nike’s annual revenues have increased from $6.4 billion in 1996 to almost $17 billion in 2007, according to annual reports.
M.Moore and Phil Knight
http://www.youtube.com/watch?v=cOI0V4kRCIQ&feature=related
