Talk about an awkward conversation around the dinner table

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Twenty five years working for Nike.  She is now a Vice President. She just resigned. From Yahoo/Sports:

Nike VP resigns after report on son's lucrative sneaker resale business
Nike executive Ann Hebert resigned Monday, a week after a Bloomberg Businessweek report detailed her son's lucrative sneaker resale business that flips hundreds of thousands of dollars worth of shoes every month.

“Ann Hebert, VP/GM, North America geography has decided to step down from Nike, effectively immediately,” a company statement reads. “We thank Ann for her more than 25 years with Nike and wish her well.”

Bloomberg's Joshua Hunt detailed the business of 19-year-old Joe Hebert, aka "West Coast Joe," who set up a sophisticated scheme for his company West Coast Streetwear to collect coveted sneakers en masse and sell them for a profit.

There is no indication in either this or the Bloomberg article that she colluded with him but he definitely was gaming the system in a way that prevented legitimate customers from getting their fair share.

Bloomberg described a transaction in which Hebert and his team used bots to overwhelm a Yeezy Supply website designed to limit purchases to one per customer. Hebert told Bloomberg he racked up $132,000 in purchases that day and quickly flipped the supply for a $20,000 profit.

Hebert, who operates out of Portland near Nike headquarters, told Bloomberg that he also gained an edge via access to inside information.

“If you know the right people here, this is the city to sell shoes,” Hebert told Bloomberg. "The right people “can give you access to stuff that, like, a normal person would not have access to.”

And, there was this little tid-bit:

Bloomberg also reports that Hebert provided an American Express statement to verify his revenue claims. Ann Hebert's name was on the credit card.

I doubt a 19-year-old is going to have a $200,000 credit line on their Amex card. His Mom was a co-signer.  What is she going to do for a career now - is Joe going to support her?

There is a TLA for times like this: CLM

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This page contains a single entry by DaveH published on March 2, 2021 7:46 PM.

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