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Tiger Woods' corporate sponsors have lost about $12 billion in stock value in the wake of the golfer's scandal.Collecting data over the two weeks following Woods' suspicious SUV crash, two economics professors at University of California, Davis, determined the financial damage to the brands in bed with Tiger by comparing the stock price of the nine publicly traded companies that Woods endorses to both their competitors and the market as a whole.
"Our analysis makes clear that while having a celebrity of Tiger Woods' stature as an endorser has undeniable upside, the downside risk is substantial, too," said the economists. Accenture, the management consulting firm that dropped Woods soon after the scandal broke, suffered no loss in valuation.
We can already see big business flocking to Washington in early-2010 and lobbying Congress for a "Tiger bailout."
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Tuesday 29 December
By silverwolf
Wow that's shocking! No, I don't mean that his sponsore lost 12 billion but that two economic professors played around with numbers so they could grab a headline for their university. I imagine I could find a couple of economic professors from another university to claim that Tiger Woods scandal actually increased the value of the companies assets 12 billion. As I discovered from my minor in economics - make up the story and then crank out the econometrics model to verify it.
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Thursday 31 December
By Julia
My first reaction to the economic professors comments was "I don't believe that.". Then I thought "It is ironic that they didn't mention his recent honors".
Your comments were right on target. I thought the same thing. You said: I imagine I could find a couple of economic professors from another university to claim that Tiger Woods scandal actually increased the value of the companies assets 12 billion.
I agree.
Friday 01 January
By Eric
That's absolutely ridiculous to say that he lost his sponsors that much money. Take a look at what the market as a whole has done since the story broke and you will see that the whole market is down significantly. Should I then assume that Tiger is responsible for the losses in the stocks and funds that I have that are not sponsors? Here's a question they didn't ask in this story... how much money did Tiger MAKE for these sponsors in the time he was their spokesperson? If I look at only the losses of my investments, I can get pretty depressed, pretty quickly, and it looks really bad. However, when I look at the positives as well as the negatives, it paints a much different picture. Jeremy, you are sounding a lot like the mainstream media here, spinning a picture the way you want it to look and not reporting ALL the facts. Nice job!
Thursday 31 December
By Jim
Idols are coming down. Beware of God, that's all I'll say . Beware of God's presence
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Wednesday 06 January
By Robert
After all is said and done he is still the most popular black guy in the USA.
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Friday 01 January
By Tim Luczak
This is absurd and completely unrealistic.
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Sunday 03 January
By al
Mr. Woods...there is always the first time. You digged a lot of holes for yourself. You need to kneel down, bend your knees and do a lot of reflections. It is a pity Standford University did not teach you elegance and style. Like a squirrel, there is always a way out to the top. It will be messy, filthy, discouraging at times because you have to eat dirt and I hope Iraq will open their first golf tournament this year. You can try. The holes are bigger due to bombing. Good luck.
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Wednesday 06 January
By stormie
Whether a Trillion Dollars is lost - it matters none.
That money really does not define who Tiger Woods really is.
Infact were it not for Dollars and Cents - he'd not be discussed
AT ALL.
What does that say about our society???????????????
Not much!!
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Saturday 23 January
By Online Sports
Tiger Woods has been dropped by Gatorade, Tag Heuer and AT&T. Next stop Nike? Online sports bloggers on www.dozensports.com are still supporting Tiger. Some say his new motto should be 'Just do me'. The only thing that can save him now is a tearful appearance on Oprah.
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