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Wednesday, June 21, 2017 The Nugget Newspaper, Sisters, Oregon
CITY: Citizens invited
to meet new City
Manager
Continued from page 3
meeting, councilors approved
the appropriation of funds
for the $13,128,758 fiscal
year 2017/18 budget and
directed staff to file the bud-
get with the county clerk.
They also approved the
City’s tax levy of $2.6417 per
$1,000 of assessed property
value.
• A sewer connection
agreement between the City
and Sisters Eagle Air formal-
izes when the airport will
connect to the City sewer. If
there is a failure in the cur-
rent airport sewer system or
any new structures requiring
plumbing are built, increas-
ing the capacity, then imme-
diate hook-up would be
required. If neither of those
events occur, connection
to the City system will be
required by February 2019,
the same timeframe as hook-
up to the City water.
• Joe O’Neill, City finance
officer, provided Council
with a quarterly financial
report, which indicated that
on the income side, property
tax income is on track for FY
2016/17. The transient room
tax (TRT) being collected
is exceeding predictions by
“quite a bit,” according to
O’Neill. There has been a big
increase in the income from
system development charges
(SDCs) due to increased con-
struction going on in Sisters.
Interest income being earned
has also increased. On the
expense side, a disbursement
of the TRT is always high at
the end of the budget year as
is the debt service payment.
Big expenses for 2016/17
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have included street overlay,
the new campground rest-
room 50 percent grant match,
and the City’s share of the
roundabout.
• Ann Marland, Sisters
resident and 10-year mem-
ber of the Sisters Trails
Alliance, was appointed by
Council to represent Sisters
on the county Bicycle
and Pedestrian Advisory
Committee (BPAC). Marland
told Council that she would
work to provide more con-
nectivity between the trails
and the town
• C o m m u n i t y
Development Director
Patrick Davenport reported to
Council that the Sisters vision
project should be getting
underway this fall, after new
City Manager Brant Kucera
is at the helm. The City has
received a $10,000 grant from
the Meyer Memorial Trust
through the Central Oregon
Intergovernmental Council
to help with expenses related
to the project. The Rural
Development Initiative has
also indicated an interest in
providing assistance.
• Davenport reported that
a number of building projects
in Sisters are on hold because
of a tight labor supply
throughout Central Oregon.
The new Dairy Queen, how-
ever, was scheduled to open
on Monday, June 19 and is
currently hiring.
Nike to slash 1,400 jobs, cut sneaker styles
NEW YORK (AP) —
Nike wants to be more nimble
on its feet.
The sneaker maker said
last Thursday that it plans to
focus on the hottest-selling
sneakers, slash the number of
styles it offers and sell more
shoes directly to customers
online as part of a restructur-
ing in which it also will cut
about 1,400 jobs.
Nike said the moves will
help it offer products to cus-
tomers faster as it is facing
increasing competition from
smaller brands and premium
labels. Another problem: The
running and basketball shoes
Nike is famous for may be
outdated.
More people are choos-
ing fashion over function,
with sales of classic sneakers
industry-wide climbing 26
percent last year, according
to research from The NPD
Group. Meanwhile, sales of
running performance sneak-
ers were flat and sales of bas-
ketball performance sneakers
dropped, according to the
same report.
“Nike missed the fashion
shift away from performance
basketball to retro,” said Matt
Powell, the sports industry
analyst at NPD. “They still
have not caught up.”
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Smith shoes have become
popular again, has made a
push to increase sales in the
U.S. The German company
said last month that first-
quarter revenue in North
America jumped 31 percent
from a year before. And on
the high end, Neiman Marcus
noted to investors last week
that sneakers, with an average
retail price of $360 per pair,
have become a significant
business as shoppers focus on
a more casual lifestyle.
“The increase in speed of
innovation and delivery is a
direct response to the expec-
tations of today’s consum-
ers,” analysts at Susquehana
Financial Group said in a note
about Nike’s moves.
Nike, known for its
swoosh logo, will also make
its sneaker-selling apps avail-
able in more countries at a
time when online sales mean
many big retailers and depart-
ment stores are closing stores.
Nike said a main focus
will be the 12 key cities in
10 countries that it expects to
represent more than 80 per-
cent of its projected growth
through 2020. Those cities
are New York, Los Angeles,
London, Paris, Milan, Mexico
City, Tokyo, Seoul, Shanghai
and Beijing.
“It appears to us that
everything Nike is working
on is a brand-first story. If the
initiatives don’t help the Nike
brand, they do not happen,”
the Susquehana analysts said.
They said customers will
barely notice the decrease in
styles given the breadth of
options Nike offers.
But the shake-up,
announced two weeks before
Nike releases its financial
results for the most recent
quarter, seemed to make
investors nervous. Its stock
fell 3 percent to $52.90 on
Thursday.
Christopher Svezia, a
footwear and apparel analyst
at Wedbush, said that when
companies announce jobs
cuts and restructuring ahead
of earnings reports, it doesn’t
typically bode well for how
business is going. “We’ll
learn more in two weeks,” he
said.
Nike Inc., which is based
in Beaverton, Oregon, said
the layoffs represent about 2
percent of its 70,000 employ-
ees around the world. It
declined to provide addi-
tional details about the cuts.
The Susquehana analysts said
they believed the jobs cuts
are likely eliminating redun-
dant back-office positions as
a result of a consolidation of
reporting segments.
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