It's a small world

Anything Nike takes me back to the old days. So does minimum wage, and there the two become an issue in one.

CNBC is running its Nike special/doc right now. They run their in-house docs on holidays like today. Nike was the only shoe I could wear for basketball that fit well and didn't cause injuries. I don't know why. Maybe my feet were screwed up after years of playing on the asphalt, but I still won't wear any other basketball shoe. (Not that I play any more.)

So Nike has a history of exploiting Third World laborers and responded by becoming the gold standard. Nike built housing, provided education and even meals for its factory workers. But, like any free-market Goliath, wages are dictated by local economy. Workers living in rising-inflation times are simply going to struggle. They go on strike. Part of me feels for them. Another part of me thinks, go to college and study for another line of work. That's a choice, not a destiny, if you are content to work in a factory.

Anyway, one thing about Nike shoes will never die: collectors. I've never been one, but I confess that the ‘Iolani Classic shoe was styling. I'd still grab a pair if I saw them. Too bad they sold out at the tournament. The other Nike I like is the black, green and yellow one that came out a few years ago. Simple and bold.

But my point is this: as long as there's a market for $100 shoes (or $1,500 soles), the free market will prevail and there will be factory workers getting pissed about being paid pennies, comparatively, to the value of their product. What goes around comes around, though. Niketown in Waikiki is going to shut down soon.