(Jamie) Welcome back to Farm Factor. Today Kyle and Duane discuss the Nike swoosh.
(Kyle) Hi. This is Kyle Bauer with Plain Talk with Duane Toews. The Nike swoosh. Swush? (Duane) It’s swoosh. (Kyle) Swoosh. Okay, that mark on the side looks like a check mark. (Duane) Close, yes. (Kyle) Yes, close. (Duane) A rounded check mark. It’s like a seal of approval. A little check mark right there. (Kyle) Okay. Actually, it was done by a lady in Seattle when she was an art student. And she wanted to take an art class and the guys were starting the Nike Company and they both work for Oregon State University. They needed some sort of a trademark on the side of their shoe, and it couldn’t have three marks, because three marks was Adidas. (Duane) Right. (Kyle) Okay? They couldn’t do that, so they said, Come up with some ideas, we’ll pay you $2 an hour. She said, Great, I’d really like to get up to $35 though, so I can take this art class. They said, Good you got a deal. Sure enough, she came up with three different ones. They said, Well I kind of don’t really like this one, but it’ll do for now – the swoosh, and they paid her $35. (Duane) Worth a lot more than that now. (Kyle) Yes, well the brand today is worth about $20 billion. That isn’t just for that swoosh. (Duane) Right. (Kyle) They did pretty well with it. But in 1983, when they went public, they called her back for her own little party to Nike because she had done that. She had long since graduated and she worked for the company up through ’76. After she graduated, they hired her, worked for the company through ’76. Let me see, she did it in ’71. Okay? She worked for the company through ’76, went on her own project. In ’83 they went public. They invited her back for her own little party, had cake, I actually made that part up, I really don’t know if they had cake or not, but they gave her a diamond ring, gold, with a swoosh on it, with a diamond in it, and they gave her 500 shares of Nike. (Duane) That’s probably worth a dollar or two. (Kyle) In those days it was worth $150. Today it’s worth just short of a million bucks.
(Jamie) Thanks for joining us. I’m your host Jamie Bloom and I hope you enjoyed today’s show. See you next week on Farm Factor – we’re here every Tuesday on AGam in Kansas.
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