Posts tagged with "Barron’s"

A scoop for sneakerheads: Nike shoes designed for Barack Obama offered for sale for $25,000

February 10, 2021

A pair of Nike hyperdunks designed for President Barack Obama will be offered for auction at Sotheby’s online, asking $25,000, Barron’s reports.

The pair was the only confirmation sample of the President Barack Obama Player Exclusive Nike Hyperdunk known to exist, with the other specially made for the former president in 2009, Sotheby’s says.

Created in men’s U.S. size 12.5, the deadstock pair is in pristine condition and features many custom details, including the official presidential seal and embroidered “44” to commemorate Obama being the 44th president. The insoles are printed with patriotic graphics, including bald eagles with the year 1776.

Like other Hyperdunks—among them, a model that was created for and worn by players on Team USA at the 2008 Beijing Summer Olympic Games—the pair has white leather uppers, blue Swooshes and visible Flywire technology, Barron’s notes.

“It’s a pleasure to bring such a unique item to market,” Brahm Wachter, Sotheby’s director of eCommerce development, said in a statement. “This will mark our first major sneaker drop on the Sotheby’s new Buy Now Sneakers Shop. We hope it will be a slam dunk.”

The Sotheby’s Buy Now online platform allows collectors to directly purchase items—ranging from fine art to fashion and collectibles, from design and antiques to jewelry and watches. The Sneakers Shop offers rare modern, vintage, and memorabilia sneakers, according to Barron’s.

The pair is on exhibition, by appointment only, at Sotheby’s New York galleries. The sale will kick off at 4:44 p.m. (ET) on February 12, coinciding with President’s Day weekend in the United States. The item is final sale and not eligible for return, Sotheby’s said.

Obama played on the junior varsity and varsity basketball teams at Hawaii’s Punahou School, where his team won the state championship in 1979. Last year, Nike donated $5 million to the Obama Foundation for the creation of a public space at the planned Obama Presidential Center on the south side of Chicago.

Research contact:@barronsonline

Trump huffs as Harley-Davidson heads overseas

June 27, 2018

Facing mounting operational costs estimated at $100 million annually, iconic American motorcycle brand Harley-Davidson announced on June 25 that it will further curtail its U.S. operations—manufacturing and selling more of its bikes abroad in coming years.

Not only is the company worried about the aluminum and steel tariffs that the Trump administration is imposing on its G7 allies—which the motorcycle maker believes “will drive up costs for all products with these raw materials, regardless of their origin, “ Barron’s reported—but it already had been forced to close a factory in Missouri and build one in Thailand, after Trump pulled the United States out of the Trans-Pacific Partnership.,

Now, Bloomberg divulged on June 26, Harley joins other quintessential American companies, including Levi Strauss, in getting caught in the middle of the Trump administration’s trade skirmishes with major trading partners.

Indeed, the European Union’s retaliation against the White House’s steel and aluminum levies will cost about $2,200 per motorcycle shipped to Harley’s second-biggest market in the world, the company estimated in a filing on June 25. So it’s shifting production of bikes for European riders overseas.

Harley plans to eat much of the cost increase tied to the EU’s tariffs, Bloomberg said, because trying to pass it on to dealers or customers would make an “immediate and lasting detrimental impact” on its business, it said in the filing.

“A company that is as connected to America, and Americana, as Harley is probably going to be laying off U.S. workers in favor of foreign workers and going to be losing money as a result of this,” James Hardiman, an equity analyst with Wedbush Securities, told Bloomberg this week, of the trade battle between the U.S.A. and the EU. “There’s a lot of irony here, to put it mildly.”

The reaction from the POTUS was immediate and incensed.

“Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag,” President Donald Trump tweeted Monday. Trump said he had “fought hard” for the company and said it ultimately won’t have to pay the tariffs, urging it to “be patient!”

He further threatened, “A Harley-Davidson should never be built in another country-never! Their employees and customers are already very angry at them. If they move, watch, it will be the beginning of the end—they surrendered, they quit! The Aura will be gone and they will be taxed like never before!”.

In 2017, Harley sold nearly 40,000 new motorcycles in Europe, accounting for more than 16% of the company’s sales. Revenues from EU countries were second only to those in the United States.

Research contact: media@harley-davidson.com