Despite tough economic times, Nike is about to go where it has never gone before: Its Lebron X sneakers are expected to retail for $315. That's the first time a pair of its kicks breaks the $300 barrier.
The Wall Street Journal reports that the price hike comes after the company saw some steep drops to its gross margins. But the company may be taking its customers too far. The Journal reports:
Ethiopia's longtime ruler, prime minister Meles Zenawi has died of an undisclosed illness. He was 57. Meles, as he is known, was a long-time ally of the U.S. and seen as a strong bulwark against terrorism.