The Tiger Woods mistress scandal cost as much as $12 billion, according to a University of California, Davis study.
The report comes in the wake of growing rumors that Woods is back with his first alleged mistress in Palm Beach, where his yacht is docked. Click here for more, including a report from Entertainment Tonight that the couple was spotted holding hands at a party.
According to the UCD study, losses to shareholders of Nike, Gatorade and other Woods sponsors lost a collective $5 to $12 billion.
"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.
Stango conducted the study along with economics professor Christopher Knittel.
The study looked at eight sponsors for which stock prices are available: Accenture; AT&T; Tiger Woods PGA Tour Golf (Electronic Arts); Gillette (Proctor and Gamble); Nike; Gatorade (PepsiCo); TLC Laser Eye Centers; and Golf Digest (Conde Nast).
Comments
Hmmm sounds like marrying Elin, or even anybody for that matter was the wrong thing for Tiger to do. I hope they can all find peace. On another note I wrote about the new TSA rules here:
www(dot)examiner(dot)com/examiner/x-29076-SF-World-Travel-Examiner~y2009m12d28-Travelers-experience-delays-President-Obama-addresses-nation-after-Northwest-Airlines-attack
Is UC Davis even a good basketball player. Should we be listening to him?
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