Tiger Woods and the economy Tiger Woods' affair resulted in a well-publicized car crash the day before Thanksgiving 2009. How did this impact the economy? According to research by two economics professors, it cost Tiger Woods' corporate sponsors $12 billion in lost stock value. Between November 25 and December 13, companies such as Gatorade, Nike and Electronic Arts stock prices fell 2.3%, costing shareholders $12 billion. Another impact could be lower viewership once the affair made Tiger decide to sit out that season. Tiger earns close to $100 million a year from his winnings and his endorsements.
Tiger Woods scandal prompts question: Why do men cheat? By Sharon Jayson, USA TODAY Tiger Woods is the latest celebrity caught up in a sex scandal, which makes people wonder — why do men cheat? And are the famous and powerful more prone to indiscretion, or are they just under the microscope more than your average Joe? The famous golfer's admitted "personal failings" have been unfolding ever since his car wreck the day after Thanksgiving. Those who study marriage and work with couples say men who cheat usually do so because they feel something is missing in their primary relationship. "The underlying piece is the fact they're not getting the kind of attention or intimacy they're looking for within their primary relationship. He says he doesn't believe adultery is necessarily more prevalent than in the past, but he says it may seem that way because famous people who are unfaithful in their marriages bring attention to the overall issue of why people cheat. "They have more opportunity. A new data analysis by W.
Tiger Woods: I Will "Explain" Sex Scandal to My Kids In his first major news conference since his sex scandal broke, Tiger Woods apologized again for humiliating his wife and family by having numerous flings with various women. Speaking to reporters Monday at the Augusta National, Woods, 34, said that "a lot has happened in my life in the past five months," but the hardest part was "having to look at myself in a light that I never wanted to look." PHOTOS: Tiger and his babies "The pain and the damage I caused my wife, my mom, my kids ... Going forward, I am going to have to explain all [this to them] ... but that's my responsibility. He declined to reveal why he went to rehab for 45 days, but he said it allowed him to "to take a look at myself ... He said he never considered going to rehab before the scandal broke. PHOTOS: Tiger and his wife - the way they were Asked what he learned through it all, he said he felt entitled over the years and lost track of his core values in light of all the fame. "I fooled myself. "That hurts.
Tiger Woods Scandals - Updates on Tiger Woods Scandals Below, in reverse chronological order (older stuff at the bottom, newer stuff at the top) are updates on the various Tiger Woods scandals that exploded in late November 2009. An early morning car accident brought out into the light of day allegations and rumors of marital infidelity. For even earlier updates, refer back to the Tiger Woods car accident and Tiger Woods affair pages; those pages are no longer updated as all updates are now listed here. Tiger, Elin divorce is now final Read the brief joint statement issued by Tiger and Elin. It's official: Woods returning at The Masters Ending months of speculation, Tiger Woods announced that he will return to tournament golf at the 2010 Masters. What would you say to Tiger? Gatorade cuts ties with Tiger Gatorade is the latest company to end an endorsement deal with Tiger Woods. Transcript of Tiger's statement Read the full transcript of Woods' statement/apology from the morning of Feb. 19, 2010. Els Slams Tiger; Woods to Play Palmer?
Tiger Woods and the PGA golf tour By Michael McCarthy, USA TODAY Tiger Woods' self-imposed exile could cost him millions in endorsement dollars and winnings. But the loss of golf's biggest cash cow also could deliver a financial whammy to the PGA Tour, TV networks, corporate sponsors and other entities that rely on the world's No. 1 player to drive their business. Without the so-called Tiger Effect, pro golf could be staring at the Tiger Recession. The Tiger-less Tour begins in earnest today at the Farmers Insurance Open at Torrey Pines near San Diego. Woods' vanishing act is taking a toll on tournament sales. After apologizing in a statement for his "infidelity" to wife Elin Nordegren, Woods announced Dec. 11 that he would take an indefinite break from pro golf. The biggest money-loser from the Woods sex scandal appears to be Woods. But Woods won't be the only one hit in the wallet. The Tour "absolutely" misses Woods, fellow player Rocco Mediate said Tuesday at Torrey Pines. Tickets and TV take a hit The stakes are high.
More Women in the Tiger Woods Scandal -- Seven and Counting As the Tiger Woods story continues to evolve and escalate, more and more and more (and more) women who aren't named Mrs. Woods have come into the fray claiming they've had affairs with the golf great. Last week there were three. Who: Jamie JungersOccupation: Waitress and Aspiring ModelAge: 26Alleged Length of Affair: 18 MonthsHow She 'Knew' Tiger: According to the Daily Mirror, Jungers allegedly met Woods at a party in Las Vegas, where he apparently sent a message to her that he wanted to meet. Credible? Who: Mindy LawtonOccupation: Waitress or Manager at Perkins RestaurantAge: 36Alleged Length of Affair: 1 YearHow She 'Knew' Tiger: The cougar of the Tiger family, Lawton is also the most descriptive. Who: Cori RistOccupation: Unknown, MomAge: 31Alleged Length of Affair: 6 MonthsHow She 'Knew' Tiger: The NY Daily News reports that Rist met Woods at the NYC club Butter last year and before long he began flying her to various destination on the PGA tour. Credible? Credible? Credible?
The Tiger Woods scandal and celebrity endorsements A recent issue of Forbes features a full-page ad for the consulting firm Accenture with Tiger Woods striding through tall grass. The tagline reads, “The road to high performance isn’t always paved.” To which the obvious rejoinder these days is “Sometimes it runs straight into a fire hydrant.” Jokes about Woods’s current woes come easy, but the story is not trivial—at least, not in terms of money. Woods has been the best-paid athlete in the world for almost a decade, and much of that income is from endorsements; ESPN once estimated that his lifetime earnings could total as much as six billion dollars. The fact that a golfer’s marital troubles might affect the bottom line of a multinational is a relatively recent phenomenon. There is a logic to this. In other words, Woods has been presented as the embodiment of bourgeois virtues: dedication, hard work, single-mindedness. The current scandal has disrupted, if not shattered, this image of perfect control.
Tiger Woods Scandal: What Next for His Wife, Sponsors? Tiger Woods really needs his wife. And his A game. That's the opinion of experts in the art of getting people through media crises like the one the golf champ faces after his single-car crash led to a multiwoman pileup of infidelity allegations. Her being in the room while he makes a statement of contrition (see playbooks by Spitzer, Silda, or Bryant, Vanessa) is a close second. The quicker this can be done, the better. "What Tiger and his advisers have managed to do so far is make this a much bigger story," says Michael Sitrick, CEO of the crisis-management firm Sitrick & Co. But Woods is equally ill suited to the kind of kimono-opening demanded by this approach. Woods may not have much choice since his alleged mistresses are reported to have text messages from him and to be willing to share them (at a price, presumably). Click to hear an alleged voice mail from Tiger Woods to a woman who is reported to be one of his mistresses.
Tiger Woods scandal and his endorsements Tiger Woods has never shanked a drive this badly in his life. First, Tiger was challenged by the outlandish accusations of the National Enquirer, then came the suspicious single-car accident early on Friday morning, and now reports in US Weekly of another affair have put Tiger in some of the deepest rough he has ever stumbled upon. The last encounter proved to be the tipping point for Woods, who released another statement this afternoon. In light of his most recent comments, in which he apologized to his family for any wrongdoings, one must begin to wonder if the lucrative sponsorship deals that made him the world's first athlete to amass $1 billion will be affected by the drama of this situation. We saw Nike drop Kobe Bryant for being unfaithful and Michael Vick for going Cujo on on some dogs. We saw Michael Phelps lose his deal with Kellogg's after going one toke over the line. But there was hard evidence in each of those cases. So much for that whole "scandal-free" thing.
Tiger Woods Mistresses: At Least 9 Women Linked to Alleged Affairs A porn star and a pancake house waitress added their names to an ever-increasing list of women who have come forward or been called out for reportedly having affairs with golf superstar Tiger Woods, bringing the tally to at least nine. Tabloids over the weekend named porn star Holly Sampson and pancake waitress Mindy Lawton as two of the names on Tiger's steamy scorecard, raising the question of how Woods would have been able to keep so many affairs secret for so long. Sampson, 36, is a busty blonde and Los Angeles resident. Denver-based lawyer Andy Contigulgia, representing Sampson, has declined to comment and did not return calls from ABC News.com. Holly Sampson. Most of the women linked to Woods are models or work at some of the country's swankiest nightclubs, but Lawton, 33, who disclosed her alleged relationship to Britain's News of the World, worked for $8 an hour at a Perkins restaurant in Orlando. "Sometimes I looked like a rag doll after we'd made love," she told the paper.
Tiger Woods no longer top paid athlete - Jul. 17 Tiger Woods is no longer the best-paid athlete. Click on photo for full rankings from SI.com. NEW YORK (CNNMoney) -- Tiger Woods has finally lost the title of the world's best-paid athlete, more than two years after a sex scandal chased away some of his most lucrative sponsors. In this year's Fortunate 50 -- Sports Illustrated's ranking of the top-paid U.S. athletes -- boxer Floyd Mayweather Jr. knocked Woods out of the top spot for the first time since the list began in 2004. Woods dropped into third place after golfer Phil Mickelson nabbed the No. 2 spot. Woods' scandal cost him several high-profile sponsors, most notably Pepsico's (PEP, Fortune 500) Gatorade, which ended its deal with Woods in February 2010. But fortunately for Woods, his biggest sponsor, Nike (NKE, Fortune 500), stuck with him, paying him an estimated $35 million a year. And he's picked up a few new sponsors, although they're not nearly as big as the blue-chip names he lost.