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(FOOL GLOBAL WIRE) LEXINGTON, KY. (November 5): Part of Nike's recent slide may be attributable to a story crossing the wires late yesterday. Major League Baseball's owners rejected the first big deal put together by their own new marketing head, a proposed ten-year contract with Nike.
Greg Murphy put together a package with Nike that would have put the Nike swoosh on 15 to 18 team uniforms, guaranteed advertising purchases on network television broadcasts and bought space on stadium billboards. But the owners nixed the deal last Thursday during a telephone conference call. Several high-ranking team officials explained the decision on the condition that they not be identified.
"We're disappointed that baseball still can't seem to get its house in order," Nike spokesman Jim Small said Monday. "When it does, we would be interested in talking to them again." Is it just me, or does it sound like the baseball owners make junior high look mature? I don't own Nike, so don't call it sour grapes, but it's no wonder baseball is rapidly being replaced by other sports as America's pastime. With extremely highly paid children running the sport (on *and* off the field) it's no wonder the average working man and woman have a hard time getting excited about the sport anymore.
If baseball needs an object lesson, let it look at the differences between golf and tennis. Tennis is dying as a spectator sport because the public's sick of seeing millionaires throw temper tantrums and talk about how rough they have it. Compare it to golf where competitors help each other, encourage each other, and call penalties on themselves. It's no wonder golf is becoming more and more popular. Call me naive, but Americans still like to root for the class acts. Right now, baseball ain't it, as the bickering about the Nike deal gives us yet further evidence of. Oops, end of sermon. Back to stocks.
Tellabs landed a new contract with China's Ministry of Posts and Telecommunications and China Telecom (the largest public service providers in China) to supply advanced digital-signal processing equipment. The deal is estimated to be worth $2.5 million (U.S.).
Have a good evening, Fools, and make sure you vote!
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