GM to Tiger: No more free cars

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- General Motors confirmed Wednesday that it put an end to an agreement with Tiger Woods that allowed the golfer to drive its vehicles for free.

GM and Woods ended the golfer's endorsement contract with Buick in 2008, but continued a deal that allowed Woods to keep several GM loaner cars, including the the Cadillac Escalade he was driving in the car crash that ultimately revealed the athlete's marital infidelity.

The arrangement ended Dec. 31. A GM spokesperson confirmed that the termination date had been previously scheduled.

Several of Woods' major sponsors, including AT&T (T, Fortune 500) and Accenture (ACN), ended their business relationships with Woods following the Nov. 27 crash and the exposure of his marriage troubles.

But other companies, like Nike (NKE, Fortune 500) and Pepsi's (PEP, Fortune 500) Gatorade continue to sponsor Woods, who has taken a break from his professional golfing career. Procter & Gamble's (PG, Fortune 500) Gillette said it would stop airing commercials featuring the golfer for a while. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 24,700.21 -287.26 -1.15%
Nasdaq 7,725.58 -21.44 -0.28%
S&P 500 2,762.57 -11.18 -0.40%
Treasuries 2.89 -0.03 -1.13%
Data as of 4:36pm ET
Company Price Change % Change
Advanced Micro Devic... 16.69 -0.42 -2.45%
AT&T Inc 32.39 0.20 0.62%
General Electric Co 12.95 -0.25 -1.89%
Bank of America Corp... 29.26 -0.14 -0.48%
Micron Technology In... 59.25 0.80 1.37%
Data as of 4:15pm ET
Sponsors

Sections

Fox's World Cup ratings show the network is losing viewers with Team USA missing from the tournament. More

While patents are intended to protect intellectual property, they're also seen in the tech industry as a way to boost the brands of companies and their employees. More

The state's booming industries will be looking for skilled workers and this online community college intends to retrain them. More