Nike CEO Builds His Own Scaffold
The CEO of Nike (NKE) is projecting growth in excess of 50% between now and 2011. That would take the shoe company to $23 billion. It is a bit like Starbucks (SBUX) saying that it will eventually have 40,000 stores.…
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The CEO of Nike (NKE) is projecting growth in excess of 50% between now and 2011. That would take the shoe company to $23 billion. It is a bit like Starbucks (SBUX) saying that it will eventually have 40,000 stores.
But, it is also reminiscent of claims from the CEO of a company called Dell (DELL) that in 2005 said that it was not irrational to think sales would hit $100 billion.
Long term projections can be dangerous. Mr. Rolling learned that and now he is out of a job.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
