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'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

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I've sold property on California's Central Coast for decades. The buyers chasing ranch and winery estates are after more than a lifestyle

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AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

1

'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

2

I've sold property on California's Central Coast for decades. The buyers chasing ranch and winery estates are after more than a lifestyle

3

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
RetailNike

Nike executive leaves the company after report surfaces of her son’s sneaker-reseller business

By
Kim Bhasin
Kim Bhasin
,
Nick Turner
Nick Turner
, and
Bloomberg
Bloomberg
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By
Kim Bhasin
Kim Bhasin
,
Nick Turner
Nick Turner
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
March 2, 2021, 8:04 AM ET

Nike Inc. executive Ann Hebert abruptly left the company following a Bloomberg Businessweek report about her son operating a business reselling sneakers and using a credit card in her name.

Hebert, who served as vice president and general manager of North America, departed Monday, effective immediately, Nike said in a brief statement. She had been in the role since last June, overseeing Nike’s sales, marketing and merchandising in the region.

The executive had spent more than 25 years with the Beaverton, Oregon-based company, which said it would announce a new leader for North America shortly.

Bloomberg Businessweek’s latest cover article explored the story of Joe Hebert, Ann’s son, a college dropout who makes a living as a sneaker reseller. Known to his customers as West Coast Joe, he started reselling streetwear in high school and now flips hundreds of thousands of dollars worth of shoes each month.

Ann Hebert didn’t reply to emailed questions for that report, but a Nike representative said the executive disclosed relevant information about her son’s business to Nike in 2018. The company said at the time that Hebert did not violate “company policy, privileged information or conflicts of interest.”

After Hebert’s departure, a spokesperson for Nike said the executive made the decision to resign. Hebert didn’t immediately respond to a request for comment on LinkedIn.

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