LATEST NEWS

Here's Why New Balance Made This Special Pair Of Sneakers For President Obama

New Balance is the last major sneaker manufacturer that still makes its shoes on its home turf in the USA.

But new trade agreements may force New Balance to move its manufacturing operations overseas — or worse, put it out of business, reports Mark J. Miller at BrandChannel.

So, the company is trying to get help from Washington, and it's buttering up lawmakers to try to make that happen.

One of its big supporters is Rep. Michael Michaud of Maine, who recently toured the New Balance factory and got a pair of custom-stitched kicks for President Barack Obama., according to Erin Rhoda at the Morning Sentinel.

Michaud's the one who introduced the American Shoes for American Servicemembers Act, which would require the Department of Defense to procure footwear from US sources.

That's good PR. T he brand relies on its American-made value proposition to survive.  Nike and the other sneaker behemoths would love to put the squeeze on New Balance with their low-cost foreign factories and shove them right out of the industry. Plus, it needs Washington on its side if it wants to keep operating as it is today.

NOW SEE: Inside American Apparel's Notorious LA Factory >

More From Business Insider

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

DON'T MISS

  • The Rs 80,000 crore milk business is on a tear

    If you thought that all the action in business was concentrated around the e-commerce sector, you could not be more wrong. The unlikely category of milk and dairy products has been seeing some of the most ... …

  • Charged up

    Reliance Jio's battle with other cellular operators over spectrum usage charges is set to escalate. …

  • Cracking the Code

    HackerRank is helping companies recruit coding champions through online tests. …

  • Poor Prediction

    A Niti Aayog presentation says poverty in India could be wiped out by 2032. Is it possible? …

  • Missing in Action

    Villages adopted by Gandhis make little progress. …

  • The VillageEconomy

    Inside: Model villages 68 / How India failed its poor 76 …

  • Hardly Adarsh

    Saansad Adarsh Gram Yojana, PM's pet project, has the potential to kick-start the rural economy, but is going nowhere if we go by the results so far. …

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    195.55+11.80+6.42%
    SBIN.BO
    16.20+0.85+5.54%
    SUZLON.BO
    66.50-1.45-2.13%
    SPICEJET.BO
    103.35+4.55+4.61%
    IBREALEST.BO
    49.00+1.35+2.83%
    RCOM.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    100.90+16.75+19.90%
    CHEMFALKAL.BO
    72.90+12.10+19.90%
    SAMPRE.BO
    99.50+16.50+19.88%
    ICNX100.BO
    36.85+5.60+17.92%
    BRAHMINFRA.BO
    129.15+19.15+17.41%
    TEJNAKSH.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    8.38-1.86-18.16%
    LAHOTIOV.BO
    629.15-124.65-16.54%
    LOYALTEX.BO
    78.95-13.20-14.32%
    AMARJOTHI.BO
    13.90-2.10-13.13%
    SRSFIN.BO
    724.80-103.05-12.45%
    NOVARTIND.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Yahoo Cricket