Hmm, Tiger Woods was probably a good thing for GM’s image, but makes sense why they did it. Is Kate Walsh, with her double entendre Cadillac commercials, next?
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 Woods also wants more personal time as he expects his second child.
Woods has endorsed GM products around the world and mainly has been seen in Buick commercials as the company tried to give the nameplate a more youthful image.
GM’s statement said the company and Woods agreed together to end the deal, and the separation was amicable.
GM has been making dramatic cuts in advertising as it tries to conserve cash. The nation’s largest automaker spent nearly $7 billion more than it took in last quarter and has warned that it may reach the minimum amount required to run the company by the end of the year without federal help.
…GM is so concerned about costs that it cut advertising during the 2009 Super Bowl, although it still plans to sponsor the National Football League and likely air ads before and after the game. GM also has pulled out of the Oscars and Emmy Awards in 2009 — the first time in over a decade that it is not running ads right before, during or after the two events.
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