and was in grad school and had moved on, phil knight knew as his, bill bowerman's interest in shoes, so in the relationship together they created a partnership, sports, shoes, and from that eventually what became nike after that, but in the early days though and in one of the first times they were developing and creating shoes together in the early 1960's, these were some first letters that go into that. when they are talking about working with companies out of japan and creating their first batches of shoes, but really bowerman and phil knight where the cofounders of this initiative, of this first organization and very much entrepreneurs for this company, and really bowerman was the research and development side, so as you can see here, we have a variety of materials out that actually went into how he would develop a shoe, how he would investigate what it needed to look like, the size, the shape, so he would go into specific details. here is where he had actually taken x-rays of somebody's foot, determining the marks where they would hit the ground and where there needs to be certai

phil knight has a long relationship with tiger woods.made it a lot of money and nike sticks by its athletes. we don't know the full story. what a shame if nike would have turned tail for him now. david: there have been combacks, ryan lochte, michael phelps, michael vick, i didn't think he'd ever come back from the thing with the dogs. and there are precedents for this. >> yes, it's good for nike to stick with him and they started with him and benefitted from the relationship. other sponsors want to stay on the sidelines and drop him, fine, nike with them gives tiger woods if he can come back the ability to come back. >> with tiger, he's been here before. >> nike would be within its rights to back away from tiger woods. if you live by celebrity, you die it. and it could mean no longer valuable. david: sabrina did i see you nodding on that. >> and nike is about living a healthy life style, and having drug and addiction a part of that, on the flip side, i actually think they made the right decision. when you're an athlete doesn't mean you d

to tell me true or false, in the early days of under armour you used to send the head of nike, phil knights card every year and say you will know our name. >> yeah, that's true. the people i was trying to recruit and get to come join the company, you know, i was pitting this as it is us versus them. and everybody else was like are you crazy, you're not on the radar. to me, we were always on the radar, always in the game. here we were always in that fight. >> you guys for the company for better part of a decade were growing rocket ship to the moon, double digit growth every year. then fourth quarter last year hit a little roadblock that scared wall street. what happened there? >> i think we found there's a bit of a shifting market that happened in the marketplace where the obl obligation of bra is to make sure first of all, freshness, newness, whoever makes the best product will win. there are all these things converging at one moment in time. >> under armour has bounced back. plank made another headline in february, with a comment praising president trump's business background. >> to have

a few on what the next -- which direction the next 10% might be but just from a long -- i read phil knight's book, shoe dog and you think how many cycles nike has been through and how many different permeations, you know, how many different versions of, oh, now the mall is dead, now the mall is back, now they're going to do department's stores and maybe they should do more with athlete's foot and footlocker that's been going on for three decades at this point. and to me, it almost doesn't matter, because if people want the product, the channel that they sell it through is secondary. if they do a deal with amazon, maybe it's not as good as sales on their own ecommerce efforts, but like, at the end of the day, does it really matter that much? if you're a long-term investor in nike, should you care so much about where they're selling it, which channel? >> well, josh, what you should care about if you're a long-term investor, if you have the luxury of a three or five-year time horizon, is that nike is just in the beginning of completely reinventing how they make shoes. we haven't talked about th

discusses phil knight his lessons of leadership with david rubenstein.ced the preview of their conversation on -- a sneak preview of their conversation. this is bloomberg. ♪ julia: what did you miss? 2017 cap mark a year of change for nike. the company is cutting jobs and revamping as global operations in over to compete with the likes of adidas and under armour. let's look at nike. the company has seen its revenue growth take a hit, slowing from the double digits advance we saw in 2015. nike's new strategic plan may not accelerate sales in the short-term. investors and analysts will be watching closely for nike's 2018 fiscal year outlook. nike is facing a resurgent adidas, which gained footing in. the u.s. when comparing the revenue growth of both companies -- which gained footing in the u.s. when comparing the growth of both companies, nike hold interestingly when it comes to margins -- hold an industry lead when it comes to margins. if more production is realized and speed to market is improved, it is not just revenue and margin that investors are con

that was my mistake, not phil mcknight, phil knight, of course.id rubenstein show, peer-to-peer conversations coming up. it is time for the bluebird business flash. the biggest stories in the news right now. amazon is stepping up its ad game. they are now emphasizing a range of options. analyst estimate amazon add new for new -- ad revenue this year growing to $2.4 billion by 2019. illinois could kickoff the fiscal year without a state budget and billions of dollars in the red. it might become the first u.s. state on record to have an obligation rated as junk. illinois owes at least $800 million in interest, late fees, and unpaid bills. says the ceo aggressive buybacks by the insurer are a thing of the past. speaking at the annual meeting today, it was said they will cut down on repurchasing shares to provide flexibility for other priorities such as beefing up units or acquisitions. a different approach from peter hancock, stepping down after losing investor confidence. that is your business flash update. up, theresa may wins her first big challen

. >> true or false, in the early days of under armour, you used to send the head of nike, phil knight, a christmas card saying you will know our name. >> yeah, it's true. >> why was that? >> the people i was trying to recruit and get to join the company, and i was hitting it as it's us versus them, and they are like, are you crazy, you are in a row house in georgetown and you are not even on the radar. >> love it. see more of the radar coming up on "today" at 8:00 this morning. >>> here's sod that needs energy, just doesn't normally have it. >> yeah, an extra boost. >> we sent lauryn out to drink wine for a day. >> yeah, yesterday i was judging a food competition, and got to taste wine, and yeah, the wine thing always interests me, and i am a virginia girl and you are a sreupb virginia girl, and virginia wine has become widely popular over the last several decades, and we have to focus in on why is the virginia area so good for wine production, and i had to go to loudoun county. >> with around 50 being here in loudon county. >> a pitcheresque vineyard nestled between the blue ridge an

just talked nike i said this before, i'll say it again, read the book shoe dog, the biography of phil knight but not really it's good, right >> it was the most -- i listened to it on the audio book. it was the most enjoyable business book in years >> if this was energy week at the white house, next year is going to be g20 week trump may also meet with the chinese leader xi. >> the "closing bell" will kick off in a few minutes i don't want to call it a stock sell-off, stocks are selling, okay this is not an abnormal move but given the lack of volatility that we've had, i guess we could say it is an abnormal move >> the s&p negative for the month of june, i can't remember the last negative month we had i know somebody will give it to me very quickly. but nonetheless. >> we haven't had a correction in 18 months so every time you see a move like this, you think, okay, re version of the mean, it's going to come around at some point interesting to your point, brian, about volatility. was it two days ago, market page story in the journal about the lack of volatility the minute that happens, right a

. >> those who remember -- read the best business book, "shoe dog" know that phil knight ran that companyith seven misfits. i think parker has taken stock in saying we have too many people and that's -- china sells it very good. they have nike espn -- all the guys spent too much money on sports. >> yeah. >> i don't know about the payoff right now. i do know that i have never made a lot of money betting against nike nike has been a phenomenal -- phenomenal stock has not been a phenomenal stock lately and maybe this is going to -- two quarters from now impact how much money they'll make. really interesting. >> this new alignment they talk about specifically driving growth in 12 key cities. new york, london, beijing, shanghai, tokyo, berlin, some others do you see it as a company ahead, but trying to stay ahead? >> yeah. i mean, look, i think that everybody is trying to figure out whether they're bloated or not. when their stock hasn't done anything i find that this -- this is a remarkable story because nike is really unassailably the best. we have not talked enough about how nike stock hasn