Tiger Woods to Wife, Kids: "I Am Deeply Sorry"
Breaking his silence for the first time since his November sex scandal erupted, Tiger Woods stood alone as he apologized to his wife Elin and supporters for having multiple affairs. "Every one of you has good reason to be critical of me," he began. "I want to say to each of you simply and directly that I am deeply sorry for my irresponsible and selfish behavior I engaged in. See Tiger and his wife in happier times "As Elin pointed out to me, my real apology to her will not come in the form of words. "What we say to each other will remain between the two of us." Look back on Tiger's sex scandal He continued, "I have let you down. "Elin never hurt me that night or any other night. Hear the infamous voicemail Tiger left for one of his mistresses "I convinced myself normal rules didn't apply," he added. "Instead, I thought only about myself. "It's up to me to start living a life of integrity. "Character and decency are what really counts," he continued. See Tiger and his wife through the years
UC Davis News & Information :: Tiger Woods Scandal Cost Shareholders up to $12 Billion
Shareholders of Nike, Gatorade and other Tiger Woods sponsors lost a collective $5 to $12 billion in the wake of the scandal involving his extramarital affairs, according to a new study by researchers at the University of California, Davis. The losses are separate from – and potentially much larger than – damage to Woods’ own earnings. “Total shareholder losses may exceed several decades’ worth of Tiger Woods’ personal endorsement income,” said Victor Stango, a professor of economics at the UC Davis Graduate School of Management and co-author of the study. With fellow UC Davis economics professor Christopher Knittel, Stango looked at stock market returns for the 13 trading days that fell between Nov. 27, the date of the car crash that ignited the Woods’ scandal, and Dec. 17, a week after the golf great announced his indefinite leave from the sport. Overall, Knittel and Stango concluded that the scandal reduced shareholder value in the sponsor companies by 2.3 percent, or about $12 billion.
Sponsors hit hard after Tiger scandal
Two economists from UC Davis have analyzed stock market returns following Tiger Woods’ car accident on Nov. 27 and subsequent announcement that he was indefinitely leaving golf. Their findings suggest the scandal reduced shareholder value in the golfer’s sponsor companies by 2.3 percent, or about $12 billion. (Credit: Paddy Briggs/2005) UC DAVIS (US)—The reputation of golfer Tiger Woods isn’t the only thing that took a major hit in the wake of the scandal involving his extramarital affairs, a recent study finds. Shareholders of Nike, Gatorade, and other sponsors lost a collective $5 to $12 billion, with sports-related companies faring the worst. The losses are separate from—and potentially much larger than—damage to Woods’ own earnings. “Total shareholder losses may exceed several decades’ worth of Tiger Woods’ personal endorsement income,” says study coauthor Victor Stango, a professor of economics at the University of California, Davis.
tiger Woods affair economic impact - what is the impact of tiger woods affair on 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. Nielson ratings showed that viewership is 50% higher when Tiger is playing a tournament.It is difficult to estimate the total impact this will have on the $75 billion golf industry. Tiger earns close to $100 million a year from his winnings and his endorsements.
industry experts optimistic that Tiger Woods's absence will have limited economic impact
There have been a lot of gloomy predictions about the impact the Tiger Woods scandal, and his self-imposed hiatus, might have on America's annual $75 billion golf economy. Many industry experts say that fears are overblown, however, and they are optimistic that whatever impact is felt will be short-lived. His absence will be felt most by broadcasters. According to research by Nielsen, TV ratings for tournaments when Woods plays are 50 percent higher than ratings for tournaments when he doesn't. Neal Pilson, former president of CBS Sports and now a sports broadcast consultant, says that Tiger's indefinite leave from competition is affecting TV advertising purchases for 2010 PGA Tour events. Pilson also says that in 2010 networks could end up making financial adjustments to advertisers who purchased spots for events where Woods was expected to play. But Woods's scandal isn't all doom and gloom for TV, even at Golf Channel. "Every sport has black eyes," Adams said.
Golf is a game is where winning pays. The winner usually accpets a large amount of money. However, after the Tiger Woods scandal broke and him not playing in tournaments have forced the purse to lower. Tiger woods when playing in a tournament automatically raise the purse at least a milliion dollars. So other golfers are suffering for this as well. by parkerburnett005 Nov 17
Golf has a purse ammount that is awarded to winner of each individual tournament. The purse ammount can fluctuate depending on the importance of the event and players participating. When Tiger plays a tournament, the purse can increase significantly. One could see why other golfers would want him competing. His impact is felt throughout the sport when he is not playing. by adam.doyle Nov 16