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Tue August 21, 2012
The Last Word In Business
Originally published on Wed August 22, 2012 8:01 am
DAVID GREENE, HOST:
And our last word in business today is: pumped up kicks.
The Wall Street Journal reports that Nike will soon release its priciest shoe.
STEVE INSKEEP, HOST:
The latest Lebron James-branded basketball shoe, known as - the Lebron X Nike Plus - is expected to retail for $315. I'm hoping that's for a pair, David, and not per shoe.
Anyway, it apparently includes some motion sensing technology - motion sensing technology that can record how high players jump when wearing them.
Back in 1985, by the way, a pair of original Air Jordans was not $315. It went for 65 bucks.
GREENE: A lot less. Well, the Journal says that the company is raising prices between 5 to 10 percent on all of its shoes and clothing, accounting for higher labor costs in China, and an increase in material costs.
Nike, by the way, is not the only company changing price tags. Adidas is doing the same thing.
INSKEEP: Hopefully, that motion sensing technology can sense how high the prices will jump.
And that's the business news on MORNING EDITION, from NPR News. I'm Steve Inskeep.
GREENE: And I'm David Greene. Transcript provided by NPR, Copyright National Public Radio.