Depression Diary

Knight sells off $93M in Nike stock
By Brent Hunsberger, The Oregonian
October 19, 2009, 4:28PM
Phil Knight is selling Nike shares again, at an opportune time for his
estate and Oregon's budget.

The sales -- worth an estimated $93 million -- began Oct. 14, the day
the Dow Jones Industrial Average returned above the 10,000 benchmark.
The two events might be unrelated, but it shows again Knight's good
timing unloading shares of the company he chairs and co-founded.

Nike closed Monday on the New York Stock Exchange at $66.09, up 99
cents or 1.5 percent, trading at a 52-week high. It is within reach of
its all-time high of $70.60 on March 24, 2008.

From Wednesday to Friday, Knight sold 1.4 million shares in 245
transactions at $64.23 to $65.24 apiece, according to documents filed
with the U.S. Securities and Exchange Commission. The filings suggest
he might sell another 3.5 million shares in coming days or weeks.

Knight, 71, last sold Nike stock in April 2008 when the sporting-goods
company's shares hovered around its all-time high. His sales reaped an
estimated $500 million.

He also sold more than $800 million worth of stock in 2007 for $57 to
$63.40 a share, according to Thomson Equity Strategies.

The sales are good news for state bean counters. Oregonians pay a 9
percent tax on capital gains, including profits from stock sales. In
2008, state officials estimated that Knight's sales at the time were
largely responsible for the $143 million surplus in the state's $15
billion budget in 2007-09.

Some of his sales have gone to high-profile gifts. In 2007, Knight and
his wife Penny pledged $100 million to University of Oregon athletics.
Last fall, they gave an $100 million gift to Oregon Health & Science
University.

Knight is not running short of Nike shares -- he still owns 86
million. He also controls nine of the company's 12 board seats.

Knight did not return messages seeking comment.

(Yes, you see one man CAN make a difference! Phil's taking his
profits now will put millions of tax dollars into the state treasury,
and put a smile on old Uncle Sam's face too!)

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Global warming could boost Northwest's forest growth!

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Chili's Restaurant in Anchorage, Wasilla, Fairbanks - bankrupt!

Closing:

Panera Bread in San Marco

Tide Point Day Care in Baltimore

Staples Office Products at 84 Whally Connecticut

Last Local Disaster Center in Georgia closing Friday

Lang Holding Inc Distribution Center in Hartland - 80 Jobs Lost

Hoffco-Comet - 15 Layoffs

Old Aiken Market in Aiken SC

Pacific Brands ( International ) - Expects more Plant Closures

Hollywood Video in Bellingham Store

City of Flint Closing Down Impound Lot

(Yaaaay!!! ....... Sorry, couldn't help that.)

Layoffs:

Bon Appetit Magazine - 6?

Montgomery County Ohio - 30 Layoffs Possible

General Shale - 19

Town of East Hampton - Layoff Talks Continue

Village of Germantown - Pay Freeze or Layoffs

Regions Financials Eliminated 1,700 Jobs in Past Year

West Bloomfield Michigan - Possible Layoffs in Fire & Police
Departments

Oak Park Village Hall - 2

Birmingham Post ( International ) - 80+

Press - Enterprise in California - 40 to 45

BrickStreet Mutual Insurance Company - 24

Embry - Riddle Aeronautical University - 21

Lexmark - up to 825 Layoffs?

Hawaii Government Employment Association - No Layoffs but 42 Furlough
Days??

Update: Missouri State Parks - 100

Jackson County Trims Budget - Few Layoffs

Detroit Free Press - 7 Layoffs Next Month?

Bayonne Medical Center - 35

Glamour , Style, Lucky - Conde Nast - Several Layoffs

University of Alberta ( International ) - Layoffs

Double-A