More Than Average: Dow Jones Adds The 'Swoosh'

The Nike swoosh logo graces the front of the Niketown store in downtown Portland, Ore. // AP, Don Ryan
Nike made the leap onto the stock averages index when Hewlett-Packard, Bank of America and Alcoa were dropped because of their low stock prices. Yes, says, commentator Frank Deford, a mere sporting goods company has joined the wealthy elite.

After 117 years, sports has finally made it to the big time, when, starting next Tuesday, a sports company will be included in the Dow Jones averages.

The Dow Jones, of course, has always preferred very serious corporations –– your banks, your automotives, your insurers. OK, the movies were allowed in 1932 with the inclusion of Loews, and Walt Disney was brought onboard in 1991, but sports was never considered substantial enough for an industrial average until now, when Nike has been ordained.

Yes, Dow Jones has the swoosh.

Click on the audio link above to hear Deford's take on this issue.

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