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GM will bail out on Tiger
DETROIT (AP) - General Motors Corp. said Monday it is ending its nine-year endorsement deal with golf superstar Tiger Woods as the automaker continues to cut expenses and hoard cash while trying to survive the worst sales downturn in a quarter-century.
The cash-strapped company said in a statement that it is looking to reduce costs, and that the world's No. 1 golfer also wants more personal time as he expects his second child.
The endorsement deal, believed to be worth at least $7 million a year, was to expire at the end of 2009.
The cash-strapped company said in a statement that it is looking to reduce costs, and that the world's No. 1 golfer also wants more personal time as he expects his second child.
The endorsement deal, believed to be worth at least $7 million a year, was to expire at the end of 2009.
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