In many ways, the world of sports has been somewhat shielded from the massive economic meltdown affecting the rest of the world. Sure, the Yankees are having trouble getting people to the ballpark, but with an average ticket price of $230 and a sub-.500 record, those seats would be a tough sell in the best of times.
(No, it’s not.)
Other tough sells in a down economy are things like $250 basketball shoes and $100-plus basketball jerseys. That, however, is what Nike has continued to foist on the world’s sports fans despite the worst recession in generations. Today, this flawed business plan has come back to bite Nike in the rear of their overpriced athletics short as the sporting goods giant announced massive layoffs. Just do it, indeed.