The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.
November 20th, 2014
Episode 737 of 922 episodes
Nike is a smart multi-billion dollar company, but some sneaker fans have figured out how they can get a better price for Nike sneakers than Nike can. Some pairs trade like stocks — selling for double, quadruple, 12 times their retail price after they leave the store. Even used sneakers.Josh Luber, of sneakerhead data company,Campless, estimates that Nike let resellers walk away with 230 million dollars in profits last year — that's money that did not go to Nike.Today on the show, why would a multi-billion dollar company give up its profits to some scrappy guys on the street?For more:http://n.pr/1quQ7uT