Author Topic: Nike VP & GM Ann Herbert resigns after report ties her to resale business  (Read 1553 times)

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DannyDee

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lol this shithead just ruined his mom's 25 year career.  gonna be awkward at family functions.
[close]

Im sure the mum knew this was happening

But i don't get it...she resigned and i guess he closes his business...what about any corruption or embezzlement charges?
[close]

I'm sorry but where is there any evidence or discussion of embezzlement? Seems like this whole thing just boils down to Nike not wanting their employees to participate in mass resale. Unless the credit card in her name he used was a company card I don't see how any of this is illegal or embezzlement. Maybe I'm missing some facts here, idk.
[close]

I guess it's more insider trading than embezzlement? Idk it is a fine line and maybe that's why there are no charges, but it still is super scummy to do.
[close]

If my Mom is basically in charge of the SNKRS app its definitely insider trading. He had the ultimate cheat code on getting the shoes every time.  I bet he hit on every pair of overhyped shoes that he bought, as would anyone with thoat connect.

Anyone acting like his mom didn't know what was going on is a fool.  Nike doesn't care, so this is water under the bridge its still funny though.
That isn't insider trading. Just extremely unethical behavior. Insider trading specifically refers to stock manipulation.
"I'm giving you one month to move or I'm petting you"

Donkey Lips

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lol this shithead just ruined his mom's 25 year career.  gonna be awkward at family functions.
[close]

Im sure the mum knew this was happening

But i don't get it...she resigned and i guess he closes his business...what about any corruption or embezzlement charges?
[close]

I'm sorry but where is there any evidence or discussion of embezzlement? Seems like this whole thing just boils down to Nike not wanting their employees to participate in mass resale. Unless the credit card in her name he used was a company card I don't see how any of this is illegal or embezzlement. Maybe I'm missing some facts here, idk.
[close]

I guess it's more insider trading than embezzlement? Idk it is a fine line and maybe that's why there are no charges, but it still is super scummy to do.
[close]

If my Mom is basically in charge of the SNKRS app its definitely insider trading. He had the ultimate cheat code on getting the shoes every time.  I bet he hit on every pair of overhyped shoes that he bought, as would anyone with thoat connect.

Anyone acting like his mom didn't know what was going on is a fool.  Nike doesn't care, so this is water under the bridge its still funny though.

"Insider trading" oh my fucking god  ;D ;D ;D

Mantracker

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lol this shithead just ruined his mom's 25 year career.  gonna be awkward at family functions.
[close]

Im sure the mum knew this was happening

But i don't get it...she resigned and i guess he closes his business...what about any corruption or embezzlement charges?
[close]

I'm sorry but where is there any evidence or discussion of embezzlement? Seems like this whole thing just boils down to Nike not wanting their employees to participate in mass resale. Unless the credit card in her name he used was a company card I don't see how any of this is illegal or embezzlement. Maybe I'm missing some facts here, idk.
[close]

I guess it's more insider trading than embezzlement? Idk it is a fine line and maybe that's why there are no charges, but it still is super scummy to do.
[close]

If my Mom is basically in charge of the SNKRS app its definitely insider trading. He had the ultimate cheat code on getting the shoes every time.  I bet he hit on every pair of overhyped shoes that he bought, as would anyone with thoat connect.

Anyone acting like his mom didn't know what was going on is a fool.  Nike doesn't care, so this is water under the bridge its still funny though.
[close]
That isn't insider trading. Just extremely unethical behavior. Insider trading specifically refers to stock manipulation.

lol fuck I knew I was gonna get roasted for this one

Atiba Applebum

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lol this shithead just ruined his mom's 25 year career.  gonna be awkward at family functions.
[close]

Im sure the mum knew this was happening

But i don't get it...she resigned and i guess he closes his business...what about any corruption or embezzlement charges?
[close]

I'm sorry but where is there any evidence or discussion of embezzlement? Seems like this whole thing just boils down to Nike not wanting their employees to participate in mass resale. Unless the credit card in her name he used was a company card I don't see how any of this is illegal or embezzlement. Maybe I'm missing some facts here, idk.
[close]

I guess it's more insider trading than embezzlement? Idk it is a fine line and maybe that's why there are no charges, but it still is super scummy to do.
[close]

If my Mom is basically in charge of the SNKRS app its definitely insider trading. He had the ultimate cheat code on getting the shoes every time.  I bet he hit on every pair of overhyped shoes that he bought, as would anyone with thoat connect.

Anyone acting like his mom didn't know what was going on is a fool.  Nike doesn't care, so this is water under the bridge its still funny though.
[close]

"Insider trading" oh my fucking god  ;D ;D ;D

It’s kinda like how on here “trust fund” just means your parents have money

twic3

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I'm more impressed by how much information the journalist was able to milk from the kid. First rule of owning a business, dont openly tell people why and how its successful lol.

KBizzle

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lol this shithead just ruined his mom's 25 year career.  gonna be awkward at family functions.
[close]

Im sure the mum knew this was happening

But i don't get it...she resigned and i guess he closes his business...what about any corruption or embezzlement charges?
[close]

I'm sorry but where is there any evidence or discussion of embezzlement? Seems like this whole thing just boils down to Nike not wanting their employees to participate in mass resale. Unless the credit card in her name he used was a company card I don't see how any of this is illegal or embezzlement. Maybe I'm missing some facts here, idk.
[close]

I guess it's more insider trading than embezzlement? Idk it is a fine line and maybe that's why there are no charges, but it still is super scummy to do.
[close]

If my Mom is basically in charge of the SNKRS app its definitely insider trading. He had the ultimate cheat code on getting the shoes every time.  I bet he hit on every pair of overhyped shoes that he bought, as would anyone with thoat connect.

Anyone acting like his mom didn't know what was going on is a fool.  Nike doesn't care, so this is water under the bridge its still funny though.
[close]
That isn't insider trading. Just extremely unethical behavior. Insider trading specifically refers to stock manipulation.

I'm well aware of what insider trading is when it comes to stocks. In this situation I would say its the closest thing possible to it though.  Mommy telling you when all the shoes are dropping and them showing up on your doorstep every other week. Definitely unethical and I'm sure Nike typically wouldn't care. That kid was making racks and let the internet know about it, mistake #1.

Atiba Applebum

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I'm more impressed by how much information the journalist was able to milk from the kid. First rule of owning a business, dont openly tell people why and how its successful lol.

You’re impressed a Gen Z shoe reseller was eager to talk about himself??!

Neil

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This has been the most satisfying news story I've read in a long time.

For real though, IF we're to believe the kid and he has no help from mommy and is simply a business genius, they can turn it into a family business and he can employ her. I have a feeling that's not the case though... he needed her connections.

WarmUpZone

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What does this have to do with skateboarding?

Boil the Ocean's latest link-heavy post about SB Dunks is right on time for you:
https://boiltheocean.wordpress.com/2021/02/28/down-and-out-in-dunktown/
Warm Up Zone. Let's watch some skateboarding videos.

manysnakes

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I really don't care about this person, Nike shoes, the politics of shoe companies and how it relates to skateboarding - any of that. The best thing about this story is that the idiot failson of a wealthy Nike executive used his mom's credit card to run his little DePop business, I guess so he could feel like he was making his own way in the world

Real Wyatt Koch energy
https://youtu.be/VS7cTJjVZjs