GM Ends Endorsement of Tiger

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GM Ends Endorsement of Tiger

Post  Cincy Fan 44 on Mon Nov 24, 2008 2:21 pm

http://www.reuters.com/article/marketsNews/idUSN2436603120081124

CHICAGO, Nov 24 (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz), which has warned it will run short of cash early next year without support, and popular professional golfer Tiger Woods said on Monday that they would end their endorsement deal at the end of the year.

GM and Woods, who is recovering from knee surgery, called the arrangement "mutual and amicable." They cited a desire by the golfer for more personal time with a second baby due in late winter, as well as a need for GM to cut costs as it struggles with declining demand in the U.S. market.

"In light of the news coming out of Washington, this decision is the result of discussions that started earlier in the year, and the timing of this agreement with these other activities is purely coincidental," Mark LaNeve, GM's North American vice president of sales, said in a statement.

For the past nine years, Woods has endorsed GM products around the world and been heavily associated with the Buick brand in the U.S., Canadian and Chinese markets.

"I am very proud of the long standing partnership I've had with GM and have enjoyed being a part of the company's dramatic product evolution," Woods said in a statement. "We've had a lot of fun together."
Not really too shocked by this. I would sure hate it IF the gov't bails out the Big 3 and one of them is still paying an athlete millions of $$$ to endorse them. Waste of money.
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