- 23
- 10
- Joined
- May 17, 2002
Hey fellas, every now and then employees or reps or family of any of any of those come across info that shouldn't be released or pics that are not intended to be published, but people like myself, have a hard time keeping info from the lifeblood of the industry, OK maybe not for such catagories as golf, tennis, ect.
below you can read a memo that was sent to me by e-mail, detailing why important info, or confidential info is intended to stay that way, and certain "insiders" can only give hints or teases with words or other.
here you go.
Nike Team,
We've recently learned of an unfortunate instance where information about Nike's product plans was published on an external website (hmmm) for the public and our copetitors to view. To this end, I wanted to remind everyone to do your utmost to keep confidential information confidential. It is vitally important to our company and you.
As a publicly traded company, there are federal guidlines around disclosure of such information, and severe legal consequences for those that do not follow those guidelines. In order to protect the Company and you from legal exposure, it is important that you know and meet your obligations regarding confidential information.
In general, most information that is confidential and non-public is considered "material inside information". "Material information that might influence an investor to buy or sell stock in Nike or another company (Martha Stewart). We have the obligation to hold such information in confidence. Our policy in this matter is very clear:
"Any employee in possession of such material information concerning Nike that has not yet been authorized for release to the public connot legaly,
1. Trade in Nike stock or the stock of a company which may be involved in discussions of a merger, aquistion, or other significant transaction with Nike, or
2. Communicate this information to other persons within or outside the company, sometimes referred to as "tipping".
These activities are also against the law. People who trade on non-public, material inside information, as well as people who have "tipped" others and those who have received the information, can be subject to both civil, and criminal prosecution. In addition, this activity may subject Nike to legal liability. Law enforment agencies use increasingly sophisticated methods to determine the sources of inside informationand those who are trading stocks. Clearly, this activity is not worth spending time in prison.
Disclosure of material inside information to outsiders Via the inernetis also a violation of our electronic com. system policy that states:
"As an employee and our systems user, you shall not permit any of Nike's propietary or confidential information to enter the public domain through electronic transmissions".
Any employee who engages in conduct violating either of these policies shall be subject to disciplinary action that may include termination of employment.
Information that we are talking about include:
An increase or decrease in our earnings or profit performance or other information regarding + or - financial performance;
Any information regarding a signifcant transaction, merger, acqisition, or change of management control involving Nike;
Any information regarding the co's anticipated sales performance, including booking levels future orders, production forcasts or other data;
Any info regarding + or - in the dividend payment on our stock;
Any info regarding extraordinary or revolutionary new products, marketing plans or business development;
Any other unusual extraordinary corporate transaction or activity, such as inpending workforce reductions, closures of facilities ect.
If you are uncertain about whether you can discuss certain information, ....Don't until you've checked it out with your manager and the legal department. We thank you for your understanding and adherence to this inportant policy.
Elliot Hill
Vice President and General Manager
US Retail
Well there it was, I hope I didn't drop a bomb and I typed quick so sorry for the misspells, but this will help people further understand why sometimes insiders just cant say anything, and help those on this website understand the power of the information that we all crave for, and the people it can affect. Let me know what you all think.
-Cog
below you can read a memo that was sent to me by e-mail, detailing why important info, or confidential info is intended to stay that way, and certain "insiders" can only give hints or teases with words or other.
here you go.
Nike Team,
We've recently learned of an unfortunate instance where information about Nike's product plans was published on an external website (hmmm) for the public and our copetitors to view. To this end, I wanted to remind everyone to do your utmost to keep confidential information confidential. It is vitally important to our company and you.
As a publicly traded company, there are federal guidlines around disclosure of such information, and severe legal consequences for those that do not follow those guidelines. In order to protect the Company and you from legal exposure, it is important that you know and meet your obligations regarding confidential information.
In general, most information that is confidential and non-public is considered "material inside information". "Material information that might influence an investor to buy or sell stock in Nike or another company (Martha Stewart). We have the obligation to hold such information in confidence. Our policy in this matter is very clear:
"Any employee in possession of such material information concerning Nike that has not yet been authorized for release to the public connot legaly,
1. Trade in Nike stock or the stock of a company which may be involved in discussions of a merger, aquistion, or other significant transaction with Nike, or
2. Communicate this information to other persons within or outside the company, sometimes referred to as "tipping".
These activities are also against the law. People who trade on non-public, material inside information, as well as people who have "tipped" others and those who have received the information, can be subject to both civil, and criminal prosecution. In addition, this activity may subject Nike to legal liability. Law enforment agencies use increasingly sophisticated methods to determine the sources of inside informationand those who are trading stocks. Clearly, this activity is not worth spending time in prison.
Disclosure of material inside information to outsiders Via the inernetis also a violation of our electronic com. system policy that states:
"As an employee and our systems user, you shall not permit any of Nike's propietary or confidential information to enter the public domain through electronic transmissions".
Any employee who engages in conduct violating either of these policies shall be subject to disciplinary action that may include termination of employment.
Information that we are talking about include:
An increase or decrease in our earnings or profit performance or other information regarding + or - financial performance;
Any information regarding a signifcant transaction, merger, acqisition, or change of management control involving Nike;
Any information regarding the co's anticipated sales performance, including booking levels future orders, production forcasts or other data;
Any info regarding + or - in the dividend payment on our stock;
Any info regarding extraordinary or revolutionary new products, marketing plans or business development;
Any other unusual extraordinary corporate transaction or activity, such as inpending workforce reductions, closures of facilities ect.
If you are uncertain about whether you can discuss certain information, ....Don't until you've checked it out with your manager and the legal department. We thank you for your understanding and adherence to this inportant policy.
Elliot Hill
Vice President and General Manager
US Retail
Well there it was, I hope I didn't drop a bomb and I typed quick so sorry for the misspells, but this will help people further understand why sometimes insiders just cant say anything, and help those on this website understand the power of the information that we all crave for, and the people it can affect. Let me know what you all think.
-Cog