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Business Standard
01-05-2025
- Business
- Business Standard
Best of BS Opinion: The rising heat across policy, trade, and power
The heat is rising — on the streets, in the markets, around boardroom tables, and beneath policymakers' collars. Not just the kind that scorches skin in the summer sun, but the kind that signals pressure, unrest, acceleration. It seeps into everything: decisions slow to arrive, reforms stuck in the pipeline, tempers fraying at the edge of legacy and ambition. Like a wildfire, it doesn't ask permission — it spreads. Everything feels inflammable. Let's dive in. India's economy, for instance, has been fanned into motion by government spending, growing at a steady 6.5 per cent. But as our first editorial notes, the private sector seems to be withdrawing its hand from the flame. A 25 per cent drop in planned capital expenditure for 2025–26, despite last year's enthusiasm, hints that the blaze may not last. With US policy winds shifting and demand still cooling at home, the hoped-for private investment boom may be burning out before it really catches on. At the same time, the literal heat is becoming lethal. Our second editorial highlights how April 2025 set new temperature records, pushing India's climate preparedness to the brink. Heatwaves are no longer freak events — they are the new norm, and yet health systems remain underprepared. With inconsistent policy action and rising power demand, the country's climate vulnerabilities are exposed. Unless India moves swiftly on renewables and mandatory heat protocols, the summer may become season of systemic breakdown. Global trade, too, is under pressure. Ajay Chhibber captures how Donald Trump's tariff whiplash has reignited fears of protectionism. China has responded fiercely, and India stands at a crossroads — tempted to turn inward, yet urged by experts to fan the flames of reform. Lower tariffs, deeper FTAs, and manufacturing investments could help India ride this global slowdown, but the window is narrowing. The heat of inaction could cost dearly. Even in the cool corridors of Tata Sons, the temperature is rising. Nivedita Mookerji breaks down the high-stakes standoff over its potential IPO. With conflicting interests, regulatory deadlines, and internal power shifts after Ratan Tata's passing, the pressure is no longer simmering — it's boiling. The outcome could redefine not just Tata's governance, but how legacy institutions evolve under scrutiny. And then there's Prosenjit Datta's review of Legends and Soles, Sonny Vaccaro's tale of betting everything on a young Michael Jordan. In a world full of rules and resistance, Vaccaro lit a match that transformed Nike, basketball, and athlete branding forever. Proof that sometimes, one bold move in the heat of doubt can set the world on fire. Stay tuned!
Yahoo
26-03-2025
- Sport
- Yahoo
The Jordan shot that 'changed the world'
There were 15 seconds left on the clock when a 19-year-old college basketball player launched a 16-foot winning shot that would change sports marketing forever. Watching that day was marketing executive and grassroots promoter Sonny Vaccaro. He was so impressed by what he saw that two years later he would bet his job at sports manufacturer Nike on backing this relatively untested player. That player was Michael Jordan. But not the Jordan we know now. At the point Vaccaro witnessed him score the shot that won the 1982 NCAA championship for North Carolina Tar Heels, Jordan was just a freshman. When, two years later, Vaccaro urged his bosses to spend their whole yearly basketball endorsement budget on him, Jordan was only 21 and had never competed in the NBA. And no-one was talking about his footwear. Vaccaro says his conviction in the youngster's potential was forged the moment he watched him take that shot at the Louisiana Superdome, New Orleans. "That shot changed the world because of what Michael Jordan became," the 85-year-old told BBC Sport. "When he took the shot, it convinced me that he would take any shot in the world." But it was Vaccaro who had to take a shot first. In his memoir, Legends and Soles, he describes how he had to convince his bosses to take a chance on an up-and-coming star, while competitors such as Converse were endorsing household names including Earvin 'Magic' Johnson. By that time, Vaccaro had established himself as a basketball insider with an extensive knowledge of young players. In 1964, aged 24, he established The Dapper Dan Roundball Classic - the first national high school all-star basketball game. The tournament ran under different guises until 2007, showcasing future NBA stars including Moses Malone, LeBron James, Kevin Garnett, Kevin Love, Kobe Bryant, Patrick Ewing and Shaquille O'Neal. He also founded the ABCD basketball summer camp in 1984 - an invitational that gathered the country's highest-ranked high school players. Nevertheless, Vaccaro told BBC Sport former Nike boss Phil Knight was not satisfied with the Jordan proposal "until the last minute". Their gamble turned the company's fortunes around, transformed the way basketball was viewed globally and left an indelible print on sneaker culture worldwide. The story was popularised in 2023 film Air, in which Vaccaro is played by Matt Damon. In his book, as well as detailing the Jordan deal, he describes how he was able to spot the potential in future stars including Bryant, Tracy McGrady and James, whom he narrowly missed out on signing to an endorsement in 2003. Nike's offer to Jordan in 1984 included a guaranteed $250,000 a year for five years, plus a stake in his own line of merchandise. It would make the 21-year-old, who was the third pick in the NBA draft that year, one of the richest athletes in the world. After signing that deal, Jordan went on to become arguably the greatest NBA player of all time, winning six championships, six Finals MVPs, five regular-season MVPs and a record 10 scoring titles. His partnership with Nike also catapulted the franchise from a company that mainly dealt in running shoes into a global behemoth worth just under $30bn (£23bn), with a monopoly over the NBA. "My personal opinion is that if there is no Michael Jordan, you wouldn't even be talking about a Nike shoe company," Vaccaro said. "That's the one deal that changed America's view of basketball players and endorsements. He was magnetic. "Other people had endorsements with companies and they'd hold up a shoe and say: 'Wear this, I wear this.' Michael didn't have to hold up the shoe. He took the shot and then wore the shoe." The Air Jordan shoe, designed by Peter Moore, first retailed in 1985. By 1986, $100m worth of Air Jordan shoes and products had been sold. A pair of championship trainers worn by Jordan sold for $8m (£6.3m) at auction last year. In 1993, Vaccaro joined Adidas America. For the next decade, he battled with his former employer for the signatures of the nation's hottest up-and-coming NBA stars. One of the coups Vaccaro managed during his time with the German sportswear company was to sign 18-year-old Bryant to a $5m, five-year deal in 1996, a month before he entered the NBA straight from high school. The marketer first encountered the future five-time NBA champion when he was invited to play at one of Vaccaro's ABCD camps in 1994. "It took Kobe all of a week to blast to the top of my 'gifted' list," he writes. "Competing against the top 160 American players, along with a handful of prospects from places like China, France, Australia, Canada and Russia, Kobe was intimidated by no-one." What left a lasting impression on Vaccaro was the fact Bryant approached him at the end of the week to apologise for not having won the MVP award, despite only being 16. "I knew that this kid had that hidden thing - drive, an ambition and a belief in himself," he told BBC Sport. "He was the most confident, outward person I've ever been around in my life." Bryant returned to Vaccaro's summer camp the following year and won the MVP award. In 1997, Vaccaro signed McGrady, just as he was about to enter the NBA draft from high school as the ninth overall pick by the Toronto Raptors. McGrady, who would go on to become a seven-time NBA All-Star, had made an impression on the sports marketer at the 1996 ABCD camp. However, he almost was not included after his school coach kicked him off the team and advised Vaccaro not to deal with the youngster. "We invited Tracy because of all the backlash," Vaccaro said. "Those five days at camp changed the whole world. He was voted the number one player in camp. No-one knew his name!" The story of Vaccaro's life seems to hinge on a number of these serendipitous moments. "What if those people in Pittsburgh were to say no to me and the Dapper Dan in 1964?" he said. "One no and this life is over. You'd be looking for someone else to interview."
BBC News
26-03-2025
- Sport
- BBC News
The Jordan shot that 'changed the world'
There were 15 seconds left on the clock when a 19-year-old college basketball player launched a 16-foot winning shot that would change sports marketing forever. Watching that day was marketing executive and grassroots promoter Sonny Vaccaro. He was so impressed by what he saw that two years later he would bet his job at sports manufacturer Nike on backing this relatively untested player was Michael not the Jordan we know now. At the point Vaccaro witnessed him score the shot that won the 1982 NCAA championship for North Carolina Tar Heels, Jordan was just a two years later, Vaccaro urged his bosses to spend their whole yearly basketball endorsement budget on him, Jordan was only 21 and had never competed in the NBA. And no-one was talking about his says his conviction in the youngster's potential was forged the moment he watched him take that shot at the Louisiana Superdome, New Orleans."That shot changed the world because of what Michael Jordan became," the 85-year-old told BBC Sport. "When he took the shot, it convinced me that he would take any shot in the world."But it was Vaccaro who had to take a shot first. In his memoir, Legends and Soles, he describes how he had to convince his bosses to take a chance on an up-and-coming star, while competitors such as Converse were endorsing household names including Earvin 'Magic' that time, Vaccaro had established himself as a basketball insider with an extensive knowledge of young players. In 1964, aged 24, he established The Dapper Dan Roundball Classic - the first national high school all-star basketball tournament ran under different guises until 2007, showcasing future NBA stars including Moses Malone, LeBron James, Kevin Garnett, Kevin Love, Kobe Bryant, Patrick Ewing and Shaquille O' also founded the ABCD basketball summer camp in 1984 - an invitational that gathered the country's highest-ranked high school Vaccaro told BBC Sport former Nike boss Phil Knight was not satisfied with the Jordan proposal "until the last minute".Their gamble turned the company's fortunes around, transformed the way basketball was viewed globally and left an indelible print on sneaker culture worldwide. The story was popularised in 2023 film Air, in which Vaccaro is played by Matt his book, as well as detailing the Jordan deal, he describes how he was able to spot the potential in future stars including Bryant, Tracy McGrady and James, whom he narrowly missed out on signing to an endorsement in 2003. 'No Jordan, no Nike' Nike's offer to Jordan in 1984 included a guaranteed $250,000 a year for five years, plus a stake in his own line of merchandise. It would make the 21-year-old, who was the third pick in the NBA draft that year, one of the richest athletes in the signing that deal, Jordan went on to become arguably the greatest NBA player of all time, winning six championships, six Finals MVPs, five regular-season MVPs and a record 10 scoring partnership with Nike also catapulted the franchise from a company that mainly dealt in running shoes into a global behemoth worth just under $30bn, external (£23bn), with a monopoly over the NBA."My personal opinion is that if there is no Michael Jordan, you wouldn't even be talking about a Nike shoe company," Vaccaro said. "That's the one deal that changed America's view of basketball players and endorsements. He was magnetic."Other people had endorsements with companies and they'd hold up a shoe and say: 'Wear this, I wear this.' Michael didn't have to hold up the shoe. He took the shot and then wore the shoe."The Air Jordan shoe, designed by Peter Moore, first retailed in 1985. By 1986, $100m, external worth of Air Jordan shoes and products had been sold.A pair of championship trainers worn by Jordan sold for $8m (£6.3m) at auction last year. 'Kobe was most confident person I've been around' In 1993, Vaccaro joined Adidas America. For the next decade, he battled with his former employer for the signatures of the nation's hottest up-and-coming NBA of the coups Vaccaro managed during his time with the German sportswear company was to sign 18-year-old Bryant to a $5m, five-year deal in 1996, a month before he entered the NBA straight from high marketer first encountered the future five-time NBA champion when he was invited to play at one of Vaccaro's ABCD camps in 1994."It took Kobe all of a week to blast to the top of my 'gifted' list," he writes. "Competing against the top 160 American players, along with a handful of prospects from places like China, France, Australia, Canada and Russia, Kobe was intimidated by no-one."What left a lasting impression on Vaccaro was the fact Bryant approached him at the end of the week to apologise for not having won the MVP award, despite only being 16."I knew that this kid had that hidden thing - drive, an ambition and a belief in himself," he told BBC Sport. "He was the most confident, outward person I've ever been around in my life."Bryant returned to Vaccaro's summer camp the following year and won the MVP award. Taking a chance on McGrady In 1997, Vaccaro signed McGrady, just as he was about to enter the NBA draft from high school as the ninth overall pick by the Toronto who would go on to become a seven-time NBA All-Star, had made an impression on the sports marketer at the 1996 ABCD camp. However, he almost was not included after his school coach kicked him off the team and advised Vaccaro not to deal with the youngster."We invited Tracy because of all the backlash," Vaccaro said. "Those five days at camp changed the whole world. He was voted the number one player in camp. No-one knew his name!"The story of Vaccaro's life seems to hinge on a number of these serendipitous moments."What if those people in Pittsburgh were to say no to me and the Dapper Dan in 1964?" he said. "One no and this life is over. You'd be looking for someone else to interview."
