From the New Words in English Dictionary:

SWOOSHTIKA, n. Derogatory reference to the distinctive logo of the Nike Corporation. Alludes to the powerful hegemony of Nike in the world of sportswear and marketing, the blind logo-worship of unthinking masses of people, and Nike's treatment of its third world workers like slave labor; implicit comparison with Nazi party and the its swastika. blend of swoosh + -tika, from 'swastika'

The word swooshtika was first coined by radio personality and activist Jim Hightower on October 18, 1997 during Anti-Nike Day protests which occurred in 13 countries and 25 states.

Nike is the perfect corporate villain for these times," Hightower said, "an example of the new global corporate hegemony.

The word has been slowly accepted into the vernacular and an Internet search results in dozens of web sites using it. Also, the now infamous Nike symbol has appeared on T-shirts both upside-down, above the number 666 and stamped with the international “banned” symbol (circle with an angled line through the middle).

The renaming indicates a change in consumer habits, as buyers demand greater accountability and transparency from multinational corporations.

Sources: New Words in English Dictionary
Metro Active News article by Josh Feit