Nike taking Paterno's name off child care center

BEAVERTON, Ore. - July 12, 2012

CEO Mark Parker said Thursday he was deeply saddened by the news coming of the Louis Freeh investigation on the child sex abuse scandal at Penn State. Freeh says Paterno and other top school officials disregarded the welfare of Jerry Sandusky's victims as they failed to report abuse allegations against the longtime assistant coach.

Says Parker: "It is a terrible tragedy that children were unprotected from such abhorrent crimes."

Nike founder Phil Knight, who defended Paterno at the coach's memorial service, says "it appears Joe made missteps that led to heartbreaking consequences."

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