The Equal Employment Opportunity Commission (EEOC) has dropped its subpoena enforcement action against Nike, stating the company complied with information requests related to an investigation of its diversity and inclusion policies. The EEOC had sought extensive employment data from Nike, alleging discrimination against white employees, but the company provided responsive documents between March and August 2024. This move ends a legal dispute initiated by EEOC Chair Andrea Lucas, who has targeted corporate diversity programs as discriminatory. The investigation highlights ongoing tensions over diversity initiatives in U.S. workplaces but concludes without further court action against Nike.
More than 40 S&P 500 companies have reported receiving $9.6 billion in tariff refunds recently, with $2.1 billion already paid out. Major recipients include Apple ($2.2B), Nike ($986M), FedEx ($800M), Amazon ($640M), and General Motors ($500M). These...
Nike reported better-than-expected Q4 FY26 results driven by improved gross margins from tariff recoveries and ongoing turnaround efforts. The company is revamping its Greater China approach by cutting thousands of online distributors to focus on fla...
Grantor Retained Annuity Trusts (GRATs) are legal trusts that allow asset owners to transfer appreciating assets to heirs with minimal or no gift tax. Phil Knight, Nike's founder, reportedly used a series of GRATs to pass billions in Nike stock to hi...
