Varsity Spirit, LLC , also known as Varsity , is an American cheerleading company owned by Varsity Brands . Founded in 1974 as the Universal Cheerleaders Association , the company is a manufacturer of apparel for cheerleading and dance teams, organizer of cheerleading competitions, and operator of training camps and sanctioning bodies.
140-558: The company's vertical integration of competitive cheerleading has faced criticism, including accusations of anti-competitive and monopolistic practices (including opposition to cheerleading being sanctioned as a sport), conflicts of interest via control of governing bodies , and institutionalizing high financial costs for participation in competitive cheerleading. In 2023 and 2024, Varsity and its previous owners agreed to settle multiple class action lawsuits , including those surrounding high financial costs, and conflicts of interest with
280-441: A copyrightable artistic work, and are identifiable as art when mentally separated from the practical aspects of the item. In 2017, BSN Sports CEO Adam Blumenfeld replaced Webb as CEO. In July 2019, the company introduced a new division, "Varsity Pro", which focuses on providing apparel and services for professional cheer and dance teams, such as those of professional sports franchises. The division's first partnership as outfitter
420-480: A violent incident between players and fans in a November 2004 game between the Indiana Pacers and Detroit Pistons . In response, players were suspended for a total of 146 games with $ 11 million total lost in salary, and the league tightened security and limited the sale of alcohol. On May 19, 2005, Commissioner Stern testified before the U.S. House of Representatives ' Committee on Government Reform about
560-527: A Cheerleader of the Month, Spotlight Squad and Awesome Athletes. 'Cheerleaders of the Month' were recognized for their talent, academic achievement and community involvement. Past celebrity covers have included Debby Ryan, Erica Joy Allen, Krystyna Krzeminski, Kendall Jenner , Heather Morris , Francia Raisa , Christina Milian , Kirsten Dunst , Mýa , Hilarie Burton , Ashley Tisdale , and Olivia Holt . American Cheerleader has also made its way into every sequel of
700-530: A bidding war. The NBA landed the most important college star of the era, Kareem Abdul-Jabbar (then known as Lew Alcindor), who went on to become the league's best player of the 1970s. However, the NBA's leading scorer, Rick Barry , jumped to the ABA, as did four veteran referees— Norm Drucker , Earl Strom , John Vanak, and Joe Gushue. In 1969, Alan Siegel , who oversaw the design of Jerry Dior's Major League Baseball logo
840-410: A company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration , wherein a company produces several items that are related to one another. Vertical integration has also described management styles that bring large portions of
980-639: A deal on October 23, 2009. At the start of the 2010–11 season, free agents LeBron James and Chris Bosh signed with the Miami Heat, joining Dwyane Wade to form the " Big Three ". The Heat dominated the league, reaching the Finals for four straight years. In 2011 , they faced a re-match with the Dallas Mavericks but lost to the Dirk Nowitzki -led team. They won back-to-back titles in 2012 and 2013 against
1120-490: A factor in determining whether vertical integration is successful. There are many problems and benefits that vertical integration brings to an economic system . Problems that can stem from vertical integration can include large capital investments needed to set up and buy factories and maintain efficient profits. Rapid technology development can increase integration difficulties and further increase costs. The requirement of different business skills venturing into new portions of
1260-607: A federal lawsuit was filed in Memphis against Varsity Brands, Varsity Spirit, and the estate of Scott Foster (a gym owner who had killed himself while under investigation for child sexual abuse), by six alleged victims of Foster. The suit alleged negligence in violation of the Protecting Young Victims from Sexual Abuse and Safe Sport Authorization Act of 2017 , including that Varsity made no effort to prohibit Foster from attending its sanctioned events, even after his suspension from
1400-549: A few days previously that were kept in ice remained in perfect condition. In 1924, Clarence Birdseye patented the "Birdseye Plate Froster" and established the General Seafood Corporation. In 1929, Birdseye's company and the patent were bought by Postum Cereals and Goldman Sachs Trading Corporation . It was later known as General Foods . They kept the Birdseye name, which was split into two words (Birds eye) for use as
1540-400: A finals appearance marking their 18th championship, their first since 2008. Following pioneers like Vlade Divac (Serbia) and Dražen Petrović (Croatia) who joined the NBA in the late 1980s, an increasing number of international players have moved directly from playing elsewhere in the world to starring in the NBA. Since 2006, the NBA has faced EuroLeague teams in exhibition matches in
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#17328551665471680-426: A five. This scoring results in 100 possible points without deductions. The 2021-2022 season scoring system changed most dramatically in that the major sections of the routine were no longer scored evenly. Stunts, pyramid, standing tumbling and running tumbling are allocated eight points, four for difficultly and four for execution; tosses and jumps were allocated four, two for difficulty and two for execution; and dance
1820-701: A four-game sweep by the Spurs over the LeBron James -led Cleveland Cavaliers . The 2008 Finals saw a rematch of the league's highest profile rivalry , the Boston Celtics and Los Angeles Lakers , with the Celtics winning their 17th championship. The Lakers won back-to-back championships in 2009 and 2010 , against the Orlando Magic and the Celtics. The 2010 NBA All-Star Game was held at Cowboys Stadium in front of
1960-519: A governing body for private cheer and dance squads, was formed in 2003 with financial backing by Varsity Spirit via a no-interest loan. Although Varsity Spirit officially states that it does not own the USASF, its board was effectively controlled by Varsity Spirit by means of six of its 15 board members, and by-laws requiring seven seats to be filled by representatives of a group of Varsity Spirit-controlled cheerleading and dance associations. The company also paid
2100-403: A large share of farm receipts, formerly assumed to go to the operator's family". Under production contracts, growers raise animals owned by integrators. Farm contracts contain detailed conditions for growers, who are paid based on how efficiently they use feed, provided by the integrator, to raise the animals. The contract dictates how to construct the facilities, how to feed, house, and medicate
2240-563: A lawsuit filed by the city of Seattle , which was intended to keep the SuperSonics in Seattle for the remaining two seasons of the team's lease at KeyArena . Following a court case, the city of Seattle settled with the ownership group of the SuperSonics on July 2, 2008, allowing the team to move to Oklahoma City immediately in exchange for terminating the final two seasons of the team's lease at KeyArena. The Oklahoma City Thunder began playing in
2380-452: A major retailer, and Essendant , a dominant wholesaler. Before a wave of deregulation at the end of 20th century, most electric utilities were vertically integrated and provided electric generation , transmission , distribution , and sales. These were not just conglomerates with a common accounting department: there was just one profit center in sales, and costs of transmission and distribution were not separated. Partial deregulation in
2520-637: A major role in the growth of the league during his career. Michael Jordan entered the league in 1984 with the Chicago Bulls , spurring more interest in the league. In 1988 and 1989, four cities got their wishes as the Charlotte Hornets , Miami Heat , Orlando Magic , and Minnesota Timberwolves made their NBA debuts, bringing the total to 27 teams. The Detroit Pistons won back-to-back NBA championships in 1989 and 1990, led by coach Chuck Daly and guard Isiah Thomas . Jordan and Scottie Pippen led
2660-507: A mix of large and small cities, as well as large arenas and smaller gymnasiums and armories . In 1950, the NBA consolidated to eleven franchises, a process that continued until 1954–55, when the league reached its smallest size of eight franchises: the New York Knicks , Boston Celtics , Philadelphia Warriors , Minneapolis Lakers , Rochester Royals , Fort Wayne Pistons , Milwaukee Hawks , and Syracuse Nationals , all of which remain in
2800-473: A portion of the syndication revenues in order for a show to gain a spot on the schedule if it was produced by a studio without common ownership. In response, the studios fundamentally changed the way they made movies and did business. Lacking the financial resources and contract talent they once controlled, the studios now relied on independent producers supplying some portion of the budget in exchange for distribution rights. Certain media conglomerates may, in
2940-418: A report accusing governing bodies tied to Varsity Spirit of allowing 180 individuals (including coaches, choreographers, and others) indicted for child sexual abuse — 140 of whom having been convicted — to continue participating in activities. It found that their list of blacklisted individuals only contained 21 people, and was only amended and expanded following reports made by the paper. In September 2022,
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#17328551665473080-809: A similar manner, own television broadcasters (either over-the-air or on cable), production companies that produce content for their networks, and also own the services that distribute their content to viewers (such as television and internet service providers). AT&T , Bell Canada , Comcast , Sky plc , and Rogers Communications are vertically integrated in such a manner—operating media subsidiaries (such as WarnerMedia , Bell Media , NBCUniversal , and Rogers Media ), and provide " triple play " services of television, internet, and phone service in some markets (such as Bell Satellite TV / Bell Internet , Rogers Cable , Xfinity , and Sky's satellite TV and internet services). Additionally, Bell and Rogers own wireless providers, Bell Mobility and Rogers Wireless , while Comcast
3220-497: A slower information processing rate, with the side effect of making the company so slow that it could not react quickly. Birds Eye did not take advantage of the growth of supermarkets until ten years after the competition did. The already-developed infrastructure did not allow Birdseye to quickly react to market changes. In order to increase profits and gain more market share, Alibaba , a China-based company, has implemented vertical integration deepening its company holdings to more than
3360-465: A small change to the typeface on the NBA wordmark in 2017) and would remain a fixture of the NBA brand. The ABA succeeded in signing a number of major stars in the 1970s, including Julius Erving of the Virginia Squires , in part because it allowed teams to sign college undergraduates. The NBA expanded rapidly during this period. From 1966 to 1974, the NBA grew from nine franchises to 18. In 1970,
3500-505: A supply chain. Operational routines also become more consistent and certain as the management of these firms gradually merge. Vertically integrated firms rarely need to worry about the sufficiency in their supply of materials because they generally control the facilities that provide them. A vertically integrated company also creates high barriers of entry into their respective economy, eliminating most potential competition. Implementing vertical integration can be beneficial in that it reduces
3640-451: A system in which mass production was most efficient. The model called for the manufacture of additional devices, all of which had carefully-curated designs by Ford engineers. Instead of passing these instructions and duties off to external manufacture firms, vertical integration was exercised within the corporation. This allowed for manageable division of labor, decreased costs in delay and exchange of goods, and organized updates of each firm in
3780-609: A trade. The 2019–20 season was suspended indefinitely on March 11, 2020, due to the COVID-19 pandemic , after Utah Jazz center Rudy Gobert tested positive for the coronavirus. On June 4, 2020, the NBA Board of Governors voted to resume the season in a 22-team format with 8 seeding games per team and a regular playoffs format, with all games played in a "bubble" in Walt Disney World without any fans present. This era also saw
3920-416: A trademark. Birdseye was paid $ 20 million for the patents and $ 2 million for the assets. Birds Eye was one of the pioneers in the frozen food industry. During these times, there was not a well-developed infrastructure to produce and sell frozen foods. Hence Birds Eye developed its own system by using vertical integration. Members of the supply chain, such as farmers and small food retailers, could not afford
4060-476: A varsity sport for the purposes of Title IX". In 2020, a proposed class action lawsuit was filed against Varsity Brands, alleging that it used its "undue influence and control" over affiliated bodies to maintain its monopoly in competitive cheerleading and scholastic apparel, including requiring participation in Varsity-run training camps in order to attend its competitions, participation in its insurance plans, and
4200-464: A vertically integrated strategy has helped Apple become a leading platform company; integrating their software (through APIs for third-party application developers) with their own hardware, across all the devices and services they offer. Vertical integration allows Apple to control production from beginning to end. Other companies may follow the Apple model, but may not see success for some time, both due to
4340-550: A year prior, created the modern NBA logo inspired by the MLB's. It incorporates the silhouette of Jerry West , based on a photo by Wen Roberts. The NBA would not confirm that a particular player was used because, according to Siegel, "They want to institutionalize it rather than individualize it. It's become such a ubiquitous, classic symbol and focal point of their identity and their licensing program that they don't necessarily want to identify it with one player." The logo debuted in 1971 (with
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4480-533: Is a form of vertical integration when purchasing departments take over the former role of wholesalers to source products. For vertical integration to succeed, managers must be able to adapt their managerial approach to compliment the changes in functional activities that their vertical shift accompanies. Managers should make sure that their firm can take advantage of existing functional knowledge through organisation, and simultaneously allow new functional knowledge to develop. However, environmental possibilities can be
4620-458: Is a more efficient business with lower costs and more profits. On the undesirable side, when vertical expansion leads toward monopolistic control of a product or service then regulative action may be required to rectify anti-competitive behavior. Related to vertical expansion is lateral expansion , which is the growth of a business enterprise through the acquisition of similar firms, in the hope of achieving economies of scale . Vertical expansion
4760-432: Is also known as a vertical acquisition. Vertical expansion or acquisitions can also be used to increase sales and to gain market power. The acquisition of DirecTV by News Corporation is an example of forwarding vertical expansion or acquisition. DirecTV is a satellite TV company through which News Corporation can distribute more of its media content: news, movies, and television shows. The acquisition of NBC by Comcast
4900-449: Is an example of an industry in which without vertical integration, would not be able to develop efficiently. In order to implement a telecommunications system that connected cities across a nation reliably, vertical integration was called upon. This strategic move ensured that the wiring, manufacture, and management of the system was consistent and functional across a state. Apple has used the vertical integration strategy for 35 years and
5040-819: Is an example of backward vertical integration. For example, in the United States, protecting the public from communications monopolies that can be built in this way is one of the missions of the Federal Communications Commission . Scholars' findings suggest that a reduction in inefficiencies caused by the market vertical value chains, including downstream prices or double mark-up, can be negated with vertical integration. Application in more complex environments can help firms overcome market failures (markets with high transaction costs or assets specificities) Scholars also identified potential risks and boundaries which may occur under vertical integration. This includes
5180-601: Is considered to have broken the NBA color barrier in the 1947–48 season when he played for the New York Knicks in the BAA. He remained the only non-white player in league history prior to the first African-American, Harold Hunter , signing with the Washington Capitols in 1950. Hunter was cut from the team during training camp, but several African-American players did play in the league later that year, including Chuck Cooper with
5320-473: Is one method of avoiding the hold-up problem . A monopoly produced through vertical integration is called a vertical monopoly : vertical in a supply chain measures a firm's distance from the final consumers; for example, a firm that sells directly to the consumers has a vertical position of 0, a firm that supplies to this firm has a vertical position of 1, and so on. Vertical integration is often closely associated with vertical expansion which, in economics ,
5460-587: Is one of the most successful companies in the technology industry. Apple centered its business strategy on its own development of integrated hardware, software, and latterly services. They design most of their products in-house, and do not allow their hardware and operating system to be licensed out, which allows the company to apply its company vision to its products. Large companies such as Apple are more likely than smaller companies to employ vertical integration, as they have more resources to manage each stage of production (e.g. major expansion and funding). Implementing
5600-402: Is partnered with Verizon Wireless for an Xfinity-branded MVNO . Similarly, Sony has media holdings through its Sony Pictures division, including film and television content, as well as television channels, but is also a manufacturer of consumer electronics that can be used to play content from itself and others, including televisions, phones, and PlayStation video game consoles. AT&T
5740-402: Is removed and a corporation has the power to control all firms in its supply chain. One benefit is that the implementation of vertical integration can yield increased profit margins or eliminate the leverage that other firms or buyers may have over the firm. It allows improved coordination between production and distribution firms and decreases the cost of exchange of goods between firms within
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5880-476: Is reportedly the lowest viewership seen for the Finals since at least 1994, when total viewers began to be regularly recorded and is a 45 percent decline from game one between the Golden State Warriors and Toronto Raptors , which had 13.51 million viewers a year earlier. Some attribute this decline to the political stances the league and its players are taking, while others consider load management,
6020-481: Is the first ever vertical integration where a mobile phone company and a film studio company are under same umbrella. Vertical integration through production and marketing contracts have also become the dominant model for livestock production. Currently, 90% of poultry, 69% of hogs, and 29% of cattle are contractually produced through vertical integration. The USDA supports vertical integration because it has increased food productivity. However, "... contractors receive
6160-491: Is the growth of a business enterprise through the acquisition of companies that produce the intermediate goods needed by the business or help market and distribute its product. A firm may desire such expansion to secure the supplies needed by the firm to produce its product and the market needed to sell the product. Such expansion can become undesirable from a system-wide perspective when it becomes anti-competitive and impede free competition in an open marketplace. The result
6300-614: The Bring It On films. Their website, Americancheerleader.com, featured cheer news and trends, training tips, featured athletes and step by step videos of stunting, tumbling and cheer skills. Varsity Spirit has been described as having a monopoly position in cheerleading in the United States, due to extensive vertical integration of apparel businesses, training camps, affiliated gyms, cheerleading competitions, and sanctioning bodies, as well as acquisitions of competitors. Varsity has been accused of engaging in anti-competitive practices ;
6440-610: The 1999 championship with the Spurs , becoming the first former ABA team to win the NBA championship. Shaquille O'Neal and Kobe Bryant started the 2000s with three consecutive championships for the Lakers. The Spurs reclaimed the title in 2003 against the Nets . In 2004, the Lakers returned to the Finals , only to lose in five games to the Detroit Pistons . The league's image was marred by
6580-494: The 2022 NBA Finals , their fourth championship in eight years. The 2022–23 season saw the Denver Nuggets , led by center Nikola Jokić , make the franchise's first NBA Finals appearance and defeat the Miami Heat in five games to win their first NBA championship. The 2023–24 NBA season saw the star-studded Boston Celtics , winning a championship over the Dallas Mavericks, after five conference finals appearances , and
6720-462: The Bell System , Apple , the U.S. entertainment studios, the U.S. meat industry, Ford Motor Company , CVS , and Amazon demonstrate vertical merging. Other examples like Alibaba and EssilorLuxottica cover vertical integration in other nations. During a hunting trip American explorer and scientist Clarence Birdseye discovered the beneficial effects of " quick-freezing ". For example, fish caught
6860-462: The Boston Celtics , which already featured guard Bob Cousy and coach Red Auerbach , and went on to lead the franchise to eleven NBA titles in thirteen seasons. Center Wilt Chamberlain entered the league with the Warriors in 1959 and became a dominant individual star of the 1960s, setting new single-game records in scoring ( 100 ) and rebounding (55). Russell's rivalry with Chamberlain became one of
7000-485: The Mountain West , Great Plains , and Southeast . An economic theory is a framework that defines how a particular economic system functions. Economists develop principles in which an economy adheres to, which provides insight onto the relationships between economic events, markets, companies, and the government. In economic theory, vertical integration has been studied in the literature on incomplete contracts that
7140-767: The NBA Europe Live Tour , and since 2009, in the EuroLeague American Tour . On November 9, 2007, when the Houston Rockets with Yao Ming faced off against the Milwaukee Bucks with Yi Jianlian , over 200 million people in China watched on 19 different networks, making it the most-viewed game in NBA history. The 2013–14 season opened with a record 92 international players on the opening night rosters, representing 39 countries and comprising over 20 percent of
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#17328551665477280-540: The NBA G League , was created. Two years after the Hornets' move to New Orleans , the NBA returned to North Carolina, as the Charlotte Bobcats were formed as an expansion team in 2004. The Hornets temporarily moved to Oklahoma City in 2005 for two seasons because of damage caused by Hurricane Katrina . The team returned to New Orleans in 2007. A new official game ball was introduced on June 28, 2006, for
7420-714: The NBA owners began a lockout that suspended all league business until a new labor agreement could be reached, which led to the season being shortened to 50 games. After the breakup of the Chicago Bulls championship roster in the summer of 1998, the Western Conference dominated much of the next two decades. The Los Angeles Lakers , coached by Phil Jackson , and the San Antonio Spurs , coached by Gregg Popovich , combined to make 13 Finals in 16 seasons, with 10 titles. " Twin Towers " Tim Duncan and David Robinson won
7560-754: The National Football League (NFL). The Boston Celtics have the most NBA championships with 18 and are the reigning league champions, having defeated the Dallas Mavericks in the 2024 NBA Finals . The NBA traces its roots to the Basketball Association of America which was founded in 1946 by owners of the major ice hockey arenas in the Northeastern and Midwestern United States and Canada. On November 1, 1946, in Toronto , Ontario, Canada,
7700-498: The Oklahoma City Thunder and the Spurs, and lost in a re-match with the Spurs in the 2014 Finals . The 2011–12 season began with another lockout , the league's fourth. After the first few weeks of the season were canceled, the players and owners ratified a new collective bargaining agreement on December 8, 2011, setting up a shortened 66-game season. On February 1, 2014, commissioner David Stern retired after 30 years in
7840-576: The Portland Trail Blazers , Cleveland Cavaliers , and Buffalo Braves (now the Los Angeles Clippers ) all made their debuts expanding the league to 17. The New Orleans Jazz (now in Utah ) came aboard in 1974 bringing the total to 18. Following the 1976 season, the leagues reached a settlement that provided for the addition of four ABA franchises to the NBA, raising the number of franchises in
7980-777: The Toronto Huskies hosted the New York Knickerbockers at Maple Leaf Gardens , in a game the NBA now refers to as the first game played in NBA history. The first basket was made by Ossie Schectman of the Knickerbockers. Although there had been earlier attempts at professional basketball leagues, including the American Basketball League (ABL) and the NBL, the BAA was the first league to attempt to play primarily in large arenas in major cities. During its early years,
8120-551: The U.S. All Star Federation . Varsity Spirit was founded by Jeff Webb , a yell leader at the University of Oklahoma contemplating law school. After working as a summer camp instructor for Lawrence "Herkie" Herkimer 's National Cheerleaders Association (NCA), he attempted, but failed, to acquire part of the company. In 1974, Webb established the Universal Cheerleaders Association (UCA), in an effort to raise
8260-512: The national governing body for basketball in the United States. The league's several international as well as individual team offices are directed out of its head offices in Midtown Manhattan , while its NBA Entertainment and NBA TV studios are directed out of offices located in Secaucus, New Jersey . The NBA is the second-wealthiest professional sports league in the world by revenue after
8400-467: The "Little Three", Universal Studios , Columbia Pictures , and United Artists , produced and distributed feature films but did not own theaters. The issue of vertical integration (also known as common ownership) has been the main focus of policy makers because of the possibility of anti-competitive behaviors affiliated with market influence. For example, in United States v. Paramount Pictures, Inc. ,
8540-415: The 10 seasons of the 1980s, Johnson led the Lakers to five titles while Bird led the Celtics to three titles. Also in the early 1980s, the NBA added one more expansion franchise, the Dallas Mavericks , bringing the total to 23 teams. Later on, Larry Bird won the first three three-point shooting contests. On February 1, 1984 David Stern became commissioner of the NBA. Stern has been recognized as playing
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#17328551665478680-515: The 2006–07 season, marking the first change to the ball in over 35 years and only the second ball in 60 seasons. Manufactured by Spalding , the new ball featured a new design and new synthetic material that Spalding claimed offered a better grip, feel, and consistency than the original ball. However, many players were vocal in their disdain for the new ball, saying that it was too sticky when dry, and too slippery when wet. Commissioner Stern announced on December 11, 2006, that beginning January 1, 2007,
8820-745: The 2008–09 season. The first outdoor game in the modern era of the league was played at the Indian Wells Tennis Garden on October 11, 2008, between the Phoenix Suns and the Denver Nuggets . The first official NBA league games on European ground took place in 2011. In two matchups, the New Jersey Nets faced the Toronto Raptors at the O2 Arena in London in front of over 20,000 fans. After
8960-646: The 2012–13 season, the New Orleans Hornets were renamed the Pelicans . During the 2013–14 season, Stern retired as commissioner after 30 years, and deputy commissioner Adam Silver ascended to the position of commissioner. During that season's playoffs, the Bobcats officially reclaimed the Hornets name, and by agreement with the league and the Pelicans, also received sole ownership of all history, records, and statistics from
9100-493: The BAA and the NBL agreed on a merger on August 3, 1949, to create the National Basketball Association. Maurice Podoloff , the president of BAA, became the president of the NBA while Ike Duffey , president of the NBL, became the chairman. The NBA later adopted the BAA's history and statistics as its own but did not do the same for NBL records and statistics. The new league had seventeen franchises located in
9240-547: The Bulls to two three-peats in eight years during the 1991–1998 seasons. Hakeem Olajuwon won back-to-back titles with the Houston Rockets in 1994 and 1995. The 1992 Olympic basketball Dream Team , the first to use current NBA stars, featured Michael Jordan as the anchor, along with Bird, Johnson, David Robinson , Patrick Ewing , Scottie Pippen, Clyde Drexler , Karl Malone , John Stockton , Chris Mullin , Charles Barkley , and star NCAA amateur Christian Laettner . The team
9380-606: The CBS show Survivor in 2002. Special Collector’s Editions were produced in February 2005 and February 2010 to commemorate the magazine’s 10th and 15th anniversaries. Lifestyle Media, Inc. was acquired by Macfadden Performing Arts Media , LLC in 2006. Varsity Spirit bought the magazine in 2012. American Cheerleader covered training tips for stunting and tumbling , tryout advice, team building activities, beauty, fashion, fitness and how to balance schoolwork and cheer. All issues feature
9520-590: The Celtics, Nathaniel "Sweetwater" Clifton with the Knicks, and Earl Lloyd with the Washington Capitols . During this period, the Minneapolis Lakers won five NBA championships and established themselves as the league's first dynasty ; their squad was led by center George Mikan who was the NBA's first superstar . To encourage shooting and discourage stalling, the league introduced the 24-second shot clock in 1954. In 1957, rookie center Bill Russell joined
9660-408: The NBA would return to the traditional leather basketball in use prior to the 2006–07 season. The change was influenced by frequent player complaints and confirmed hand injuries (cuts) caused by the microfiber ball. The Players' Association had filed a suit on behalf of the players against the NBA over the new ball. As of the 2017–18 season , the NBA team jerseys are manufactured by Nike , replacing
9800-549: The NBA's actions to combat the use of steroids and other performance-enhancing drugs. The NBA started its drug-testing program in 1983 and substantially improved it in 1999. In the 1999–2000 season, all players were randomly tested during training camp, and all rookies were additionally tested three more times during the regular season. Of the nearly 4,200 tests for steroids and performance-enhancing drugs conducted over six seasons, only three players were confirmed positive for NBA's drug program, all were immediately suspended, and as of
9940-534: The NBA. The NBA's regular season runs from October to April, with each team playing 82 games. The league's playoff tournament extends into June, culminating with the NBA Finals championship series. As of 2020 , NBA players are the world's best paid athletes by average annual salary per player. The NBA is an active member of USA Basketball (USAB), which is recognized by the FIBA (International Basketball Federation) as
10080-625: The NBL with the prospect of playing in major venues such as Boston Garden and Madison Square Garden . The NBL hit back by outbidding the BAA for the services of several players, including Al Cervi , rookie Dolph Schayes and five stars from the University of Kentucky while also gaining the upper hand in Indianapolis with the creation of the Indianapolis Olympians while the Kautskys folded. With several teams facing financial difficulties,
10220-700: The NCA (which Webb estimated to have a 25% market share in 2002), giving it control of the sheer majority of the cheerleading industry. In 2005, it acquired the Knoxville-based Athletic Championships LLC and Premier Athletics LLC. In 2007, it backed the formation of USA Cheer, a non-profit led by Webb which aimed to be a sanctioning body for cheerleading (with a goal to back cheerleading as a proposed Olympic event). In 2011, Varsity Brands merged with Herff Jones , an Indianapolis-based manufacturer of class rings , caps and gowns , and yearbooks ; Webb
10360-565: The Pelicans' time in Charlotte. As a result, the Hornets are now officially considered to have been founded in 1988, suspended operations in 2002, and resumed in 2004 as the Bobcats, while the Pelicans are officially treated as a 2002 expansion team. (This is somewhat similar to the relationship between the Cleveland Browns and Baltimore Ravens in the NFL .) Donald Sterling , who was then-owner of
10500-480: The Supreme Court ordered the five vertically integrated studios to sell off their theater chains and all trade practices were prohibited ( United States v. Paramount Pictures , Inc., 1948). The prevalence of vertical integration wholly predetermined the relationships between both studios and networks and modified criteria in financing. Networks began arranging content initiated by commonly owned studios and stipulated
10640-473: The U.S. The vertical merge allowed CVS-Aetna to regulate more of the healthcare and delivery chain and gave them the ability to provide higher quality care to consumers. One of the most significant advantages to this integration is the reduction in costs for healthcare. Amazon.com has been criticized for being anti-competitive as both an owner and participant of its dominant online marketplace. In office products, Sycamore Partners owns both Staples, Inc. ,
10780-490: The US in 1978 ( PURPA ) forced the utilities to buy electricity outside if the rates were competitive; this gave rise to independent power producers . The other deviation from the vertical integration model were local distribution companies in some towns and regions. In the US 250 vertically integrated companies provided 85% of electrical generation. As of 2022, this "public utility" model was still utilized in some US states, mostly in
10920-406: The USASF in 2018. All Varsity Spirit competitions follow a shared scoring system. This system varies slightly per team depending on the age, level, and coed of the division. Unlike previous seasons the 2021-2022 scoring system is based on 50 points instead of 100. This resulted in major shifts in the allocation of points within the sections of the cheerleading routines. Before the 2021-2022 season,
11060-599: The United States and Canada and is considered the premier professional basketball league in the world. The NBA was created on August 3, 1949, with the merger of the Basketball Association of America (BAA) and the National Basketball League (NBL). The league later adopted the BAA's history and considers its founding on June 6, 1946, as its own. In 1976, the NBA and the American Basketball Association (ABA) merged , adding four franchises to
11200-457: The Warriors faced each other in the Finals a record four consecutive times . In the 2015–16 season, the Warriors finished the season 73–9, the best season record in NBA history . However, the Cavaliers overcame a 3–1 deficit in the Finals to win their first championship that season, and end a 52-year professional sports championship drought for the city of Cleveland . In the 2016–17 season,
11340-521: The Warriors recruited free agent Kevin Durant and went on to win the 2017 and 2018 Finals against the Cavaliers. After the departure of James in free agency in 2018, the Cavaliers' streak of playoff and Finals appearances ended. The Warriors returned for a fifth consecutive Finals appearance in 2019 but lost to the Toronto Raptors, who won their first championship after acquiring Kawhi Leonard in
11480-567: The aforementioned rebate program, which institutionalized financial costs for participation in competitive cheerleading. Varsity responded to the suit, arguing that they "welcome the kind of competition that enhances the cheer marketplace", and accused competitors of "seeking to chill that marketplace through the Courts. We are contesting this flawed diversion from an otherwise dynamic industry with energy, resources and determination." In March 2023, Varsity Brands agreed to pay $ 43.5 million to settle one of
11620-418: The all-girl and international coed teams have the coed scoring section replaced with stunt quantity. This scoring results in 50 possible points which is doubled to obtain 100 possible points. Vertical integration In microeconomics , management and international political economy , vertical integration , also referred to as vertical consolidation, is an arrangement in which the supply chain of
11760-514: The allegations and said Donaghy was a convicted felon and a "singing, cooperating witness". Donaghy served 15 months in prison and was released in November 2009. According to an independent study by Ronald Beech of Game 6 of the 2002 Western Conference Finals between the Los Angeles Lakers and Sacramento Kings, although the refs increased the Lakers' chances of winning through foul calls during
11900-411: The animals, and how to handle manure and dispose of carcasses. Generally, the contract also shields the integrator from liability. Jim Hightower , in his book, Eat Your Heart Out , discusses this liability role enacted by large food companies. He finds that in many cases of agricultural vertical integration, the integrator ( food company ) denies the farmer the right of entrepreneurship. This means that
12040-498: The antitrust cases, Fusion Elite All Stars, et al. v. Varsity Brands LLC, et al,, targeting "direct purchasers"; under the settlement, Varsity agreed to stop paying the salaries of USASF executives, and prohibit its board members from occupying seats on the USASF board. In addition, the USASF agreed to not allow any one cheerleading body from controlling more than 40% of the voting seats on its board. In May 2024, Varsity settled Jessica Jones, et al., v. Varsity Brands, LLC, et al. , with
12180-449: The company and its prior owners agreeing to pay out $ 82.5 million to "indirect" purchasers who paid for registration fees or purchased apparel from Varsity. As part of the settlement, Varsity also agreed to no longer require competitors to participate in its training camps, phase out the "Stay Smart" scheme, and to restrict the sharing of confidential information from other USASF members to Varsity.. In September 2020, USA Today published
12320-473: The company had begun to lessen after the sale to Charlesbank. After his departure, Webb became the new co-publisher and senior news editor of the conservative publication Human Events . American Cheerleader was the first and largest national teen magazine dedicated to covering sideline and competitive cheerleading. It was founded in 1995 and based in Memphis, Tennessee. Staff included Editor-in-Chief Jackie Martin and Managing Editor Kim Conley. Inspired by
12460-491: The company out of his apartment , and only made a profit of US$ 850 (equivalent to $ 5,251 in 2023) during his first year of operations. By 2002, Webb estimated that Varsity Spirit held about half of the market, and that 60% of its revenue came from apparel. In 2003, Varsity backed the formation of the U.S. All Star Federation , a sanctioning body for "all-star" cheerleading competitions involving teams from private gyms. In 2004, Varsity acquired National Spirit Group, owner of
12600-408: The company signs gyms to multi-year agreements, under which they receive rebates if they exclusively purchase apparel from the company, and participate in Varsity-run competitions. Only Varsity-owned brands are allowed to exhibit and market their apparel at its events, hindering the ability for competitors to do the same. Although there are no restrictions on use of non-Varsity apparel by participants in
12740-436: The company's main competitor in the 2010s. In 2016, Varsity Brands sued Star Athletica, a competing manufacturer of cheerleading uniforms established by The Liebe Company (which was formerly contracted with Varsity), for copyright infringement over similarities in designs between their products. The Supreme Court ruled in favor of Varsity, establishing that aesthetic elements of a useful article can be protected if they are
12880-528: The company. Varsity Spirit and its affiliates have lobbied against proposals for cheerleading to be sanctioned as a sport, including proposals by California, and Texas's University Interscholastic League (UIL), arguing that this would result in increased oversight and regulation that would be detrimental to its business and self-oversight. In 2015, the UIL announced a pilot "Spirit Championship", whose judges would be trained and provided by Varsity Spirit. In 2010, Webb
13020-447: The competitions proper, in 2010 Webb testified that in at least one competition, teams received more points if they used Varsity-produced props. Varsity also has effective control of affiliated governing bodies for cheerleading. USA Cheer, a non-profit governing body for cheerleading, was established by Varsity Spirit with a no-interest loan, and is staffed by six contracted Varsity Spirit employees. The U.S. All Star Federation (USASF),
13160-570: The continuous near year-over-year decline in NBA viewership. Between 2012 and 2019, the league lost 40 to 45 percent of its viewership. While some of it can be attributed to "cable-cutting", other professional leagues, like the NFL and MLB have retained stable viewership demographics. The opening game of the 2020 Finals between the Los Angeles Lakers and Miami Heat brought in only 7.41 million viewers to ABC, according to The Hollywood Reporter. That
13300-399: The cost of entering the market and taking on the currently successful incumbent, but also by innovating their products to make them more appealing in the marketplace than the current incumbent. Vertical integration requires a company to focus not only on its core business, but also on several difficult areas such as sourcing materials and manufacturing partners, distribution, and finally selling
13440-405: The distance that separates the suppliers and customers from the resources or information, which can then boost profits and efficiency. There are internal and external society-wide gains and losses stemming from vertical integration, which vary according to the state of technology in the industries involved, roughly corresponding to the stages of the industry lifecycle. Static technology represents
13580-457: The e-commerce platform. Alibaba has built its leadership in the market by gradually acquiring complementary companies in a variety of industries including delivery and payments. One of the earliest, largest and most famous examples of vertical integration was the Carnegie Steel company. The company controlled not only the mills where the steel was made, but also the mines where the iron ore
13720-665: The entire value chain, but do not do everything in-house (e.g. assembly of iPhones by manufacturing partner Foxconn ). From the early 1920s through the early 1950s, the American motion picture had evolved into an industry controlled by a few companies, a condition known as a "mature oligopoly ", as it was led by eight major film studios , the most powerful of which were the "Big Five" studios: MGM , Warner Brothers , 20th Century Fox , Paramount Pictures , and RKO . These studios were fully integrated, not only producing and distributing films, but also operating their own movie theaters ;
13860-556: The farmer can only sell under and to the integrator. These restrictions on specified growth, Hightower argues, strips the selling and producing power of the farmer. The producer is ultimately limited by the established standards of the integrator. Yet, at the same time, the integrator still keeps the responsibility connected to the farmer. Hightower sees this as ownership without reliability. Under marketing contracts, growers agree in advance to sell their animals to integrators under an agreed price system. Generally, these contracts shield
14000-588: The first European coach to become a head coach for a team in the NBA. In the 2023–24 season , the Mavericks and the Thunder each had eight international players on their roster. For six consecutive seasons from 2018–19 to 2023–24 , the league's MVP award has been given to an international player. In 2001, an affiliated minor league , the National Basketball Development League, now called
14140-493: The fuel to company-owned retail stations, for sale to consumers. Standard Oil is a famous example of both horizontal and vertical integration, combining extraction, transport, refinement, wholesale distribution, and retail sales at company-owned gas stations. Telephone companies in most of the 20th century, especially the largest (the Bell System ) were integrated, making their own telephones , telephone cables , telephone exchange equipment and other supplies. The Bell System
14280-485: The game, there was no collusion to fix the game. On alleged "star treatment" during Game 6 by the referees toward certain players, Beech claimed, "there does seem to be issues with different standards and allowances for different players." The NBA Board of Governors approved the request of the Seattle SuperSonics to move to Oklahoma City on April 18, 2008. The team, however, could not move until it had settled
14420-438: The greatest rivalries in the history of American team sports. The 1960s were dominated by the Celtics. Led by Russell, Cousy, and Auerbach, Boston won eight straight championships in the NBA from 1959 to 1966. This championship streak is the longest in the history of American professional sports. They did not win the title in 1966–67 , but regained it in the 1967–68 season and repeated in 1969 . The domination totaled nine of
14560-411: The high cost of equipment, so Birdseye provided it to them. Until now, Birds Eye has faded slowly because they have fixed costs associated with vertical integration, such as property, plants, and equipment that cannot be reduced significantly when production needs decrease. The Birds Eye company used vertical integration to create a larger organization structure with more levels of command. This produced
14700-596: The incomplete contracting setup. In these extended models, vertical integration can sometimes be optimal even if only the seller has to make an investment decision. National Basketball Association The National Basketball Association ( NBA ) is a professional basketball league in North America composed of 30 teams (29 in the United States and 1 in Canada ). It is one of the major professional sports leagues in
14840-401: The integrator from liability for the grower's actions and the only negotiable item is a price. In the United States new automobiles can not be sold at dealerships owned by the same company that produced them but are protected by state franchise laws. Ford Motor Company vertically integrated due to high demand for their Model T automobile. With the development of Model T, the company required
14980-460: The largest crowd ever, 108,713. A referee lockout began on September 1, 2009, when the contract between the NBA and its referees expired. The first preseason games were played on October 1, 2009, and replacement referees from the WNBA and NBA Development League were used, the first time replacement referees had been used since the beginning of the 1995–96 season. The NBA and the regular referees reached
15120-627: The league at that time to 22. The franchises added were the San Antonio Spurs , Denver Nuggets , Indiana Pacers , and New York Nets (now the Brooklyn Nets). Some of the biggest stars of this era were Abdul-Jabbar, Barry, Dave Cowens , Erving, Elvin Hayes , Walt Frazier , Moses Malone , Artis Gilmore , George Gervin , Dan Issel , and Pete Maravich . The end of the decade, however, saw declining TV ratings, low attendance and drug-related player issues – both perceived and real – that threatened to derail
15260-612: The league today, although the latter six all did eventually relocate. The process of contraction saw the league's smaller-city franchises move to larger cities. The Hawks had shifted from the Tri-Cities to Milwaukee in 1951, and later shifted to St. Louis in 1955. In 1957, the Rochester Royals moved from Rochester, New York , to Cincinnati and the Pistons moved from Fort Wayne, Indiana , to Detroit. Japanese-American Wataru Misaka
15400-459: The league. The league added the ABA's three-point field goal beginning in 1979. That same year, rookies Larry Bird and Magic Johnson joined the Boston Celtics and Los Angeles Lakers respectively, initiating a period of significant growth of fan interest in the NBA. The two had faced each other in the 1979 NCAA Division I Basketball Championship Game , and they later played against each other in three NBA Finals (1984, 1985, and 1987). In
15540-511: The league. The NBA defines "international" players as those born outside the 50 United States and Washington, D.C. This means that: The beginning of the 2017–18 season saw a record 108 international players representing 42 countries marking 4 consecutive years of at least 100 international players and each team having at least one international player. In 2018, the Phoenix Suns hired Serbian coach Igor Kokoškov as their new head coach, replacing Canadian interim coach Jay Triano , making Kokoškov
15680-415: The ninth NBA team in 1961. From 1966 to 1968, the league expanded from 9 to 14 teams, introducing the Chicago Bulls , Seattle SuperSonics (now Oklahoma City Thunder ), San Diego Rockets (who moved to Houston four years later), Milwaukee Bucks , and Phoenix Suns . In 1967, the league faced a new external threat with the formation of the American Basketball Association (ABA). The leagues engaged in
15820-434: The now merged company. Within healthcare systems, horizontal integration is generally much more prominent. However, in the United States, major vertical mergers have included CVS Health 's purchase of Aetna , and Cigna 's purchase of Express Scripts . The integration of CVS Health and Aetna resulted in the combination of one of the nation's largest health insurance companies with a pharmaceutical company seen all across
15960-435: The past two seasons and that he made calls affecting the point spread in those games. On August 15, 2007, Donaghy pleaded guilty to two federal charges related to the investigation . Donaghy claimed in 2008 that certain referees were friendly with players and "company men" for the NBA, and he alleged that referees influenced the outcome of certain playoff and finals games in 2002 and 2005. NBA commissioner David Stern denied
16100-557: The popularity and competitive nature of cheerleading in the early 1990s, publishing executive Michael Weiskopf started a magazine to take advantage of its evolving culture. The first issue was published in New York in January 1995. It was published by Lifestyle Ventures, LLC, and the first issue featured University of Maryland cheerleader Penny Ramsey, who went on to become a castaway in Thailand on
16240-541: The position, and was succeeded by his deputy, Adam Silver . After four seasons with the Miami Heat, LeBron James returned to the Cleveland Cavaliers for the 2014–15 season. He led the team to their second Finals appearance with the help of Kyrie Irving and Kevin Love . The Golden State Warriors defeated the Cavaliers in six games, led by the " Splash Brothers " Stephen Curry and Klay Thompson . The Cavaliers and
16380-406: The potential competitor, the enhancements to horizontal collusion, and development of barriers to entry. However, it is still debated over if vertical integration expected efficiencies can lead to competitive harm to the market. Some conclude that in many cases that the efficiencies outweigh the potential risks. Contrary to horizontal integration , which is a consolidation of many firms that handle
16520-524: The previous supplier, Adidas . All teams will wear jerseys with the Nike logo except the Charlotte Hornets , whose jerseys will instead have the Jumpman logo associated with longtime Nike endorser Michael Jordan , who owns the Hornets. The Federal Bureau of Investigation (FBI) began an investigation on July 19, 2007, over allegations that veteran NBA referee Tim Donaghy bet on basketball games he officiated over
16660-442: The product. Another major success of Apple's, is the forward integration with their retail stores, allowing them to sell their products directly to customers (helping customers to buy and use Apple's products and services), additionally helping them to control the prices of their products, and thus to maintain high-profit margins when they do. Apple is also known as one of the world's leading "orchestrators" as they exert control over
16800-434: The profile of cheerleading, initially by establishing training camps , and later through promotional campaigns and its National College Cheerleading Championship (which was first held in 1978) and its National High School Cheerleading Championship (which was first held in 1980). Cheerleading had seen declines in participation due to the growth of women's sports following the introduction of Title IX . Webb first operated
16940-610: The quality of play in the BAA was not significantly better than in competing leagues or among leading independent clubs such as the Harlem Globetrotters . For instance, the 1947 ABL finalist Baltimore Bullets moved to the BAA and won that league's 1948 title, and the 1948 NBL champion Minneapolis Lakers won the 1949 BAA title. Prior to the 1948–49 season, the BAA lured away the Fort Wayne Pistons , Indianapolis Kautskys , Minneapolis Lakers , and Rochester Royals from
17080-593: The salary of its president, and its vice president of events and corporate alliances. In 2011, the USASF threatened to ban its members from participating in Varsity-run events if they participate in competing world championships not run by the company. Varsity was also involved in the establishment of the International Cheer Union (ICU). Under a "Stay Smart" scheme, attendees of events were also required to book accommodations with specific providers vouched by Varsity, which were accused of having paid kickbacks to
17220-631: The same part of the production process, vertical integration is typified by one firm engaged in different parts of production (e.g., growing raw materials, manufacturing, transporting, marketing, and/or retailing ). Vertical integration is the degree to which a firm owns its upstream suppliers and its downstream buyers. The differences depend on where the firm is placed in the order of the supply chain. There are three varieties of vertical integration: backward (upstream) vertical integration, forward (downstream) vertical integration, and balanced (both upstream and downstream) vertical integration. Disintermediation
17360-675: The scoring system in Varsity Spirit and USASF governed competitions was straightforward. The scoring followed the main divisions of an all star cheerleading routine, stunts, pyramid, jumps, tosses, running tumbling, standing tumbling and dance. Each of these sections were allocated ten points, five for difficultly and five for execution except for dance. The scoring also allocated ten points for both performance and routine composition, five points to for stunt and pyramid creativity, and five points for stunt quantity. Lastly for coed teams five points were used to score coed stunts, non-coed teams were given
17500-506: The simplest case, where the gains and losses have been studied extensively. A vertically integrated company usually fails when transactions within the market are too risky or the contracts to support these risks are too costly to administer, such as frequent transactions and a small number of buyers and sellers. The following are several case studies of vertical integration in play. Many examples center around American industries, where major companies like General Foods, Carnegie Steel Company ,
17640-455: The steel processes to the next generation. Oil companies , both multinational (such as ExxonMobil , Shell , ConocoPhillips or BP ) and national (e.g., Petronas ) often adopt a vertically integrated structure, meaning that they are active along the entire supply chain from locating deposits , drilling and extracting crude oil , transporting it around the world, refining it into petroleum products such as petrol/gasoline , to distributing
17780-434: The supply chain can be challenging for the firm. Another problem that may stem from vertical integration is the collapse of goals among the various firms in a supply chain. With each firm operating under different systems, integration may cause initial problems in management and production. Vertical integration also proves to be dangerous when monopolistic problems arise in a capitalistic economy. When this happens, competition
17920-577: The supply chain not only under a common ownership but also into one corporation (as in the 1920s when the Ford River Rouge Complex began making much of its own steel rather than buying it from suppliers). Vertical integration can be desirable because it secures supplies needed by the firm to produce its product and the market needed to sell the product, but it can become undesirable when a firm's actions become anti-competitive and impede free competition in an open marketplace. Vertical integration
18060-598: The supply chain. Vertical integration enabled Ford Motor Company to be self-regulating and self-sufficient. EssilorLuxottica , the company that merged with Essilor and Luxottica , occupies up to 30% of the global market share as well as representing billions of pairs of lenses and frames sold annually. Before the merger, Luxottica also owned 80% of the market share of companies that produce corrective and protective eyewear as well as owning many retailers, optical departments at Target and Sears , and key eye insurance groups, such as EyeMed , many of which are already part of
18200-719: The ten championship banners of the 1960s. Through this period, the NBA continued to evolve with the shift of the Minneapolis Lakers to Los Angeles, the Philadelphia Warriors to San Francisco, the Syracuse Nationals to Philadelphia to become the Philadelphia 76ers , and the St. Louis Hawks moving to Atlanta , as well as the addition of its first expansion franchises. The Chicago Packers (now Washington Wizards ) became
18340-448: The time of the testimony, none were playing in the NBA. After the Spurs won the championship again in 2005 , the 2006 Finals featured two franchises making their inaugural Finals appearances. The Miami Heat , led by their star shooting guard, Dwyane Wade , and Shaquille O'Neal, who had been traded from the Lakers during the summer of 2004, won the series over the Dallas Mavericks . The Lakers/Spurs dominance continued in 2007 with
18480-491: The two parties will negotiate tomorrow about how to divide the returns of the investments. Since the owner is in a better bargaining position, he will have stronger incentives to invest. Hence, whether vertical integration is desirable or not depends on whose investments are more important. Hart's theory has been extended by several authors. For instance, DeMeza and Lockwood (1998) have studied different bargaining games, while Schmitz (2006) has introduced asymmetric information into
18620-420: The uneven talent distribution between the conferences and the cord-cutting of younger viewers as the main reason for the decline. During the 2020–21 and 2021–22 seasons, the Milwaukee Bucks would defeat the Phoenix Suns in the 2021 NBA Finals , securing their second NBA championship since 1971, and the Golden State Warriors made their sixth appearance in the finals defeating the Boston Celtics in
18760-455: Was called upon as an expert witness in a Title IX case involving Quinnipiac University , which had redirected money out of women's sports to its all-women cheerleading team under the argument that it was a sport. In his testimony, Webb stated that he did not consider cheerleading to be a sport, as he primarily considered Varsity's competitions to be a promotion for its lines of business. A federal judge held that cheerleading "does not qualify as
18900-504: Was developed by Oliver Hart and his coauthors. Consider a seller of an intermediate product that is used by a buyer to produce a final product. The intermediate product can only be produced with the help of specific physical assets (e.g., machines, buildings). Should the buyer own the assets (vertical integration) or should the seller own the assets (non-integration)? Suppose that today the parties have to make relationship-specific investments. Since today complete contracts cannot be written,
19040-590: Was elected to the Naismith Memorial Basketball Hall of Fame , while 11 of the 12 players (along with three out of four coaches) have been inducted as individuals in their own right. In 1995, the NBA expanded to Canada with the addition of the Vancouver Grizzlies and the Toronto Raptors . In 1996, the NBA created a women's league, the Women's National Basketball Association (WNBA). In 1998,
19180-403: Was extracted, the coal mines that supplied the coal , the ships that transported the iron ore and the railroads that transported the coal to the factory, the coke ovens where the coal was coked, etc. The company focused heavily on developing talent internally from the bottom up, rather than importing it from other companies. Later, Carnegie established an institute of higher learning to teach
19320-593: Was named president and COO in December 2012, and the merged company took on the Varsity Brands name in 2014. In 2012, it acquired American Cheerleader magazine from Macfadden Communications Group , with the publishers of Memphis-based teen magazine Justine producing the magazine. Charlesbank Capital Partners acquired Varsity Brands in 2014, after which it began to place a larger focus on club-based "all-star" cheerleading. In 2015, it acquired JAM Brands, which had been
19460-507: Was only given two points. The amount allocated to routine composition dropped to two points while performance was dropped entirely, instead there are now two points allocated to a similar category, overall impression. Stunt and pyramid creativity are now allocated one point each. Another large change, mainly for all girl teams, is the change of the scoring sheet from coed teams to not coed teams. Meaning, coed teams still get scored on their coed stunts, unless they are an international team, however,
19600-740: Was with the NBA 's Memphis Grizzlies . It also acquired SA Feather Co. and Stanbury Uniforms to expand into the band market. On December 9, 2020, Webb announced that he would step down from Varsity. In a 2021 interview with Sportico after the International Olympic Committee (IOC) voted to recognize the ICU, Webb stated that he had divested himself of Varsity, recently had "a very favorable liquidity event", and "was looking around with what I want to do with this phase of my life." Varsity's former vice president of corporate alliances and business development, Marlene Cota, stated that Webb's role in
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