Jim,
Looked at Nike per your mention. (The EDGAR form seems to be 14A).
Noticed alot of insiders on the Nike board. I don't know what these guys net worth is, but do you feel their investment in the company is too small?
Also, are these some of the red flags?
CERTAIN TRANSACTIONS AND BUSINESS RELATIONSHIPS
During the fiscal year ended May 31, 1997, the Company paid the law firm of
Bullivant, Houser, Bailey, Pendergrass & Hoffman, of which director Douglas G.
Houser is a partner, approximately $48,144 for services rendered. During the
same period, the Company paid Harbor Point Associates, Inc., of which director Ralph D. DeNunzio is President, $100,000 for financial consulting services, paid Robanna, Inc., which is owned by director John R. Thompson, Jr., $367,713 for services rendered pursuant to an endorsement contract, and paid Mr. Hayes $26,000 for consulting services. The Company expects to pay Mr. Houser, or his law firm, Mr. DeNunzio, or his firm, Mr. Thompson, or his firm, and Mr. Hayes for additional legal and consulting services that may be performed by them for the Company during fiscal year 1998.
INDEBTEDNESS OF MANAGEMENT
In 1994 the Company loaned $500,000 at 5.65% per annum to President Thomas E. Clarke for the purchase of a second home. The loan is secured by the second home, and must be repaid within 180 days following termination of employment. As an inducement to remain employed by the Company, the Company has agreed to forgive $100,000 of the loan commencing January 1, 2000 and on each of the four anniversary dates thereafter, provided that Dr. Clarke remains employed by the Company. |
