Nike (NYSE:NKE) is one of the most recognizable brands on earth. With sales of over $20 billion in fiscal year 2011, it easily the largest athletic retailer on the planet. After growing revenues 9% in a tough retail environment, and on an enormous base of $19 billion, we think Nike is a best in class company, and we are initiating coverage with a fair value of $95. We make available our DCF valuation model template here. This implies a multiple of about 18x 2012 earnings, and earnings per share growth of over 18%. Fourth Quarter Profit Reveals Operational StrengthIt not often we get excited when a company has its gross margin fall over 300 basis points in a single quarter, but that exactly what happened to Nike in its fiscal fourth quarter of 2011. Just as management warned, higher fuel costs and cotton expenses absolutely crushed margins, which fell to 44.3% from an impressive 47.4%. However, Nike brilliance in operations management allowed the company to keep SG flat on an absolute basis, and lower it by over 400 basis points on a percentage of sales basis. With cotton prices and fuel prices already coming down, we think Nike will be able to improve margins, especially in the second half of fiscal 2012, when the company will roll out surgical price increases. Emerging markets and China surging While some may choose to dabble in Baidu (NASDAQ:BIDU) or RenRen (NYSE:RENN), we think Nike, as well, is one of the best ways to play growth in emerging markets and China. Growth in these geographies almost outpaced supply, as revenues grew by 21% in China and 25% in emerging markets. Nike thinks Brazil will be a billion dollar business by 2014, when the country hosts the World Cup, and we could not agree more. As the middle classes grow throughout the world, the demand for specialty shoes shoes, soccer (should we say football cleats), and running shoes continue to increase. Americans tend to have one, if not multiple pairs of each for different purposes, and we expect the same to be true about consumers in other countries. China will continue to surge, and possibly even accelerate, as they have a basketball hungry population. Estimates show that there may be up to 300 million basketball fans (about the same amount as the US has citizens). If Nike continues to be the market leader in China (and fights counterfeiters), we think the market presents an opportunity that will make the $2 billion US basketball sales that Nike does look relatively small. Due to the foreign diversification, we like Nike much more than we like Under Armour (NYSE:UA) we offer our bearish take on Under Armour here. Nike continues to resonate as a brand in almost every corner of the world, while Under Armour cannot seem to scratch the surface in China or emerging markets. NFL Deal Could Be Better Than ExpectedThough it doesn hit until the second half of fiscal 2012, we think the exclusive NFL licensing deal will be a profitable endeavour. Though estimates say it about a $300 $500 million sector, we think Nike will leverage its marketing and operational excellence to accelerate revenue growth. We also think this will give Nike an opportunity to take even more market share in football cleats and accessories, since they will now be able to put an NFL shield on it. Overall, we would not be surprised if Nike, even without headwear, is able to increase sales of NFL merchandise as well as the profitability up another notch. The NFL is easily the most popular sport in the US, and we think popularity and merchandising opportunities will continue to grow. A Tough Market Makes It Hard to TimeThough Nike continues to fire on all cylinders and produce excellent and profitable products, we think investors should still be somewhat cautious. Our downside scenario fair value estimate is $76, and we think if this frantic sell off continues, the $76 78 area looks like a great entry point. Even if some calm enters the market in the next few days, paying $80 for a premium company, with upside of around 30% doesn seem like a terrible idea. Under an orderly pullback, we may add Nike to our Best Ideas portfolio, which contains the most undervalued and attractive stocks based on our methodology. Women Nike Free Run 4.0 V2 Crimson Lemon Platinum ,Women Nike Free Run 3 Grainte Fireberry Sail Frbrry Women Nike Free Run 4.0 V2 Anthracite New Green Teal Men Nike Free Run 2 Turquoise White Orange Men Nike Free 4.0 Game Royal Blue Electric Green Pure Platinum Nike Roshe Run Men Black Total Orange Men Nike Free Run 2 Blue White Orange Nike Free 4.0 Dark Grey Reflect Silver Total Orange Women Men Nike Free Run 4.0 V2 Cool Grey Reflective Silver Black Men Nike Free Run 2 Shield Stealth Black Orange White Children are not born with empathy. They are born with the capacity to have empathy but it only develops under certain conditions. Parents play a critical role in developing their children's empathy. In their book, Born for Love: Why Empathy is Essential and Endangered, Perry and Szalavitz write essence of empathy is the ability to stand in another's shoes, to feel what it's like there and to care about making it better if it hurts. They document numerous cases where children have not experienced adequate empathy while growing up. These kids' behavior towards others also reflects a lack of empathy which often leads to serious problems. Children learn to be empathetic by being treated with empathy. This begins when they are babies with loving adults responding to their cries and needs. Soothing young children when they are upset lays the foundation for their own development of empathy. Older children learn empathy when you respond to their behavior in a caring way rather than with anger. Instead of yelling "How could you do that?" or "What were you thinking?" respond in a way that demonstrates you understand what your child is going through. For example, if your child spilled juice, you might say "Oops! That's unfortunate. Let me know if you need any help cleaning it up." Reflecting your child's feelings is another way of showing empathy. If your child has angrily thrown her math book down, you could say "I can see you're frustrated. I get frustrated too when I'm having trouble doing something." Expressing empathy puts you and your child on the same side of the problem. When you show compassion and understanding, your child is in a better position for thinking about a solution to the problem. Key 2: Demonstrate genuine empathy. When using empathy, it needs to come from your heart. If it doesn't sound genuine, children will quickly see through it as fake empathy. One mom of two teens complained that she tried to be empathetic to their problems but it only seemed to make them mad. She went on to explain that she would often respond to their problems by saying "bummer". Instead of feeling genuinely understood, they felt angry because it seemed like she was belittling them. To see a situation from your child's viewpoint, it can help to think of a situation where you've experienced something similar to what your child is experiencing. For example, if you've ever ordered a meal at a restaurant and then regretted your choice when the meal actually came, you can understand how your child might feel in a similar situation like the following one. Pretend you asked your child, "What would you like for breakfast: cereal, pancakes or toast?" Suppose your child chooses cereal but when you place the cereal in front of her she says "I changed my mind. I want pancakes." You may be tempted to yell "You asked for cereal; I got you cereal; Now eat it!" Instead you could show more understanding by responding with something like "Now that you have your cereal you're disappointed you didn't chose pancakes. Tomorrow morning you can choose pancakes." If she becomes upset, it's better to acknowledge her feelings again with something like "I realize you are upset." instead of "Stop complaining and eat!" Key 3: Discuss other people's perspectives Reading books can help develop understanding of other people's points of view. Perry and Szalavitz talk about the importance of reading to children and discussing the actions and feelings of the characters. "When you read to them or discuss books, ask what they think the characters are thinking and feeling. Point out facial expressions and body language and talk about what these mean." You can have this same type of discussion with the events happening in your children's lives. For example, if a new student has joined your child's class, you can talk to your child about how it must feel to be a new student in the class and to not know anyone yet. By trying to understand how this new student is feeling, your child may be inspired to find ways to help this new student feel more comfortable. When you help your children see the world from different viewpoints you help them develop their empathy. When children can feel empathy for others, they are far less likely to engage in behaviors like bullying. By treating your children with empathy and guiding them to treat others that way, you are helping to build a more caring community for everyone. This is a very worthy goal indeed! Women Nike Free Run 4.0 V2 Crimson Lemon Platinum,Make a large shoe shape on the floor with masking tape. Use colored chalk if completing the activity outdoors. Ask the children to guess how many preschoolers will fit inside the "shoe." Invite the children to stand inside of the shoe and count the children who fit in the shoe shape. Ask the children if sharing a small space is difficult and encourage them to offer suggestions for making the experience better for everyone. Let the children sit in a circle to talk about sharing the space in the classroom. Offer an example of how cooperation helps the children to share their classroom space. Encourage the children to offer examples of cooperation. Send a note home to parents requesting that they send an old shoe and a stretch glove. Provide paints, makers, glitter glue and stickers. Let the children make shoe homes for the old woman and her children. Remove the glove's thumb and fingers for each child to make finger puppets. Help the children to attach small pieces of yarn with glue to make hair for their finger puppets. Make the puppet's eyes, nose and mouth with markers. Encourage the children to act out the nursery rhyme with the shoe homes and finger puppets. Reinvent snack time for preschool children with a shoe cake. Grease and flour two 9 x 5 x 3 inch loaf pans. Preheat an oven to 350 degrees. Use 2 tablespoons less water when mixing the ingredients for a packaged yellow cake mix. Pour the batter into the loaf pans and bake for 35 to 40 minutes. Allow the cakes to cool and remove from the pans. Stand one loaf upright against the other loaf to form an "L." Round the corners of the horizontal loaf to form the "toes" of the shoe shape. Shave the corners of the upright loaf until the desired peak of a roof is formed. Use food coloring to tint a container of vanilla frosting a preferred color. Let the children help frost the "shoe" and add decorations. Use pillow mints or chocolate wafers to make the roof's shingles. Chocolate chips or cinnamon candies make shoe eyelets. Use red or black licorice to form the shoe lace. Cut squares from a fruit flavored roll up snack to make brightly colored windows. Create a door with chocolate squares or pillow mints.
2015 Cheap Women Nike Free Run 4.0 V2 Crimson Lemon Platinum,Men Nike Free Run 2 Black Gym Red Quilted Prep notebook: Libby spikers building toward big momentPrep Extra: All state scoring duo drawing state's attentionBills' Carpenter kicks way to AFC honorCoyotes wary of Griz weaponsSource: Rice elevator video sent to NFL office in AprilBitterroot Forest offers Full Moon Walk at Hamilton's Kiwanis ParkGREG TOLLEFSON: Idea of wilderness will never get oldMARK WARD: Bowhunting underway, and trout biting on HolterDeer population rebounds in southeastern MontanaOutdoors briefs for Thursday, September 11The Missoula YMCA recently made the May 11 date official for the 41st Riverbank Run, but Keri McHugh director of health and wellness and race director said the move has been in the works since January."We moved it back into May with the hopes of catching more sunshine," McHugh said, and added: "It was at its biggest and most well attended when it was in May."In 2000, the event there is a 10 kilometer race, a 5k, a 1 mile fun run and the trifecta for runners who want to do all three switched to the last Saturday in April, largely because the University of Montana has held graduation the second Saturday in May.This year UM holds its graduation ceremony on May 18.That let race officials snap up the Saturday between the annual Bloomsday Run in Spokane and graduation. Bloomsday came along five years after the Riverbank Run began in 1973, but has turned into a huge regional race. Some runners hit both, and that chance is here again."This is the date that the Riverbank Run was for many years," said Jason Shearer, associate executive director at the Missoula YMCA. "What we really want it to be is Missoula's celebration of spring. The odds of success there are a lot higher than they are in April."What we've seen since we shifted off that date is more Riverbank dates where it's been cooler. While that's been great for some hardcore runners, this is really a family event.""Bloomsday has always been that first weekend of May and we'd never want to overlap with it," said McHugh. "We usually have about 3,000 runners, and we'd like to see 4,000."A possible problem is the mid May start time may only last three years. Checking with the UM registrar, Edwin Johnson, shows the university will have commencement the third Saturday in May in both 2014 and 2015. But the date keeps moving forward, to May 14 in 2016 (a leap year) and to May 13 in 2017."It depends on how the calendar fits," said Johnson, noting that UM has to fit 75 days of instruction between its winter session and graduation.But it looks set through 2015 "We thought that three years could be a good test run," McHugh said and Shearer seems confident the race will stay in May."I think it's pretty likely, myself," he said.The race has evolved from its start at the old Milltown Bridge with 350 runners to a route that starts downtown and runs right through UM's campus.Then it devolved, in the minds of some, when it switched to April.Shearer noted that when April had five weekends the race saw a spike in registration except for 2011, when the Riverbank coincided with Bloomsday. The question, Shearer said, was: Can we be warm and not run into Bloomsday?"We have been talking about getting back to a May date since I can remember," said Shearer, who's been with the YMCA 18 years. Passionate views, pointed criticism and critical thinking are welcome. Comments can only be submitted by registered users. By posting comments on our site, you are agreeing to the following terms:Our guidelines prohibit the solicitation of products or services, the impersonation of another site user, threatening or harassing postings and the use of vulgar, abusive, obscene or sexually oriented language, defamatory or illegal material. You may not post content that degrades others on the basis of gender, race, class, ethnicity, national origin, religion, sexual orientation, disability or other classification. It's fine to criticize ideas, but ad hominem attacks on other site users are prohibited. (Link to it instead, using a headline or very brief excerpt.) Women Nike Free Run 4.0 V2 Crimson Lemon Platinum Some costumes need shoe covers in order to make the illusion complete. For example: an animal has furry feet that do not look like shoes, or perhaps a gentleman in full traditional dress needs spats and a particular kind of shoe. Those are hard to find! Or perhaps a medieval jester needs his upturned boots. Shoe covers can be an economical and easy way to supply the illusion of fancy footgear. The easiest way to make shoe covers is to look for costume patterns that include them. Furry animal patterns usually include them. If your pattern does not, or you don't have a pattern, these instructions should help. You will need to 1 yard of the fabrics you want to use according to the size shoe cover needed, 6" of elastic at least " wide, a couple of yards of narrow Velcro, a few sheets of plain white paper or graph paper, a tape measure, and a sewing machine or needle and thread. Also any embellishments you would like to add to the finished items, such as buttons, ribbon or even sequins. Measure a foot of the person you are making the shoe covers for. Remember to have the person wear the shoes they plan to wear when wearing the costume! You will need the length and width. Add " for a standard seam to all measurements. Now decide how your shoe cover is going to look. This is going to require some creativity. You can use historical costume references if needed. Perhaps you could even blow up a photo to use as a pattern guide. You will need to draw a side view of what you want onto the paper to use as a pattern, using the measurements you have. Cut out the pattern you have created, and place it on the fabric, which is folded in half. Cut out two sets of two pieces of fabric. You will have four pieces, two for each shoe. Sew two of the pieces, right side in, along the front sides. Sew a narrow hem around the bottom and the top. Sew a regular hem along the back of each shoe cover. Attach the narrow Velcro to both sides of the long back seam of both shoe covers, the "fuzzy" strip on the outside edge of one seam, and the "hook" strip on the inside of the other seam, so that they overlap.
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