Life Changing Deals

Grind for September 11th, 2018
“All great achievements require time.” – Maya Angelou

Bad Idea

The Headline

Nike loses billions after endorsing Colin Kaepernick

The Grind

The hashtag #NikeBoycott is trending following the company’s shocking decision to endorse former 49ers’ KB Colin Kaepernick with an ad reading: “Believe in something. Even if it means sacrificing everything.”

The ad is a reference to Kaepernick’s 2016 decision to kneel during the National Anthem. The resulting controversy ripped millions from the NFL and sent Kaepernick into unemployment.

The Details

Social media is now blowing up with images and videos of people throwing Nike shoes into dumpsters, lighting them on fire, and sawing them in half.

The controversial ad was followed by a significant drop in sales and a 3.2% nosedive in Nike stock – a figure which represents $4.2 billion in market cap.

Nike’s decision to endorse Kaepernick could have been an appeal to millennials, which tend to support his protest, or it could have been an attempt to show support for the NFL amid increasing public wrath.

The NFL signed Nike in 2010 as one of the brands it would carry in its sports retail outlets. Consumers had already pressured Nike to abandon the NFL over the protest before it decided to endorse Kaepernick.

But instead of distancing itself from the league, Nike went all in and will now lose millions of customers and billions of dollars.

Foreign Politics

The Headline

Kim Jong-un says he wants to denuclearize before the end of President Trump’s first term, claims he never said anything bad about Trump

The Grind

Speaking with South Korean Security Chief Chung Eun-yong on Wednesday, North Korean leader Kim Jong-un said he wanted to denuclearize before the end of President Trump’s term in 2021.

Kim expressed his “unwavering trust” for the president and claimed he had “never said anything negative” about Trump.

President Trump and Kim met face-to-face in June, when they signed a landmark treaty on denuclearization in June. The following month, US officials detected what appeared to be renewed missile activity in North Korea.

In August, Sec. of State Mike Pompeo canceled a planned trip to Pyongyang after North Korean officials sent a letter to the White House criticizing the Administration’s reluctance to advance a peace deal.

The Details

This week, Kim said he was willing to accept “stronger measures” to dismantle his country’s nuclear program and to move towards a formal peace treaty to end the Korean War. Kim also agreed to meet with South Korean President Moon Jae-in in mid-September.

“We haven’t had any nuclear tests, we haven’t had any missile tests, which we consider a great thing,” said Pompeo. “But the work of convincing Chairman Kim to make the strategic shift which we talked about, for a brighter future for the people of North Korea, continues.”

The question now is whether North Korea will follow through with what Kim is saying. The North Korean leader continues to use the term “complete denuclearization,” which implies the removal of US nuclear forces currently within striking range of North Korea and the cessation of military exercises near the peninsula.

From Kim’s point of view, a peace treaty would boost his prestige and make it harder for the international community to maintain sanctions on North Korea.

From Washington’s points of view, concessions have already been made and a peace treaty is a reward to be given in exchange for denuclearization.

On Friday, negotiators from the US and North Korea met to discuss the possible recovery of more remains from soldiers killed in the 1950-1953 Korean War. The meeting was the first direct communication between the two sides since the cancellation of Pompeo’s visit last month.

Did you know… At age 12, Simon Cowell was arrested for hijacking a bus with a toy gun.