Times are bad. No surprise there but times are going to get much, much worse. How do I know that? I know it because even Tiger Woods has to find a new sponsor.
Tiger Woods, golfing superstar and a living legend, just had his nine-year endorsement deal with General Motors cancelled as the automaker is cutting expenses due to the economic downturn. Poor Tiger’s endorsement deal is worth about $7 million a year and was to end in 2009. GM is ending it a year early.
When even the world's No. 1 golfer has his endorsement deal cancelled by America’s No. 1 motor company…u know the world is in trouble. Times are bad.