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Economic Downturn Bites Tiger

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Nov. 25 2008, Published 1:25 p.m. ET

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Not that he's hurting or anything, but General Motors has just cancelled its relationship with Tiger Woods as a celebrity spokesperson.

For the last 9 years, the golf champ has had a Buick logo stitched on his golf bag.

We didn't realize there was such a job to be had, but Golf Marketing Manager for Buick, Larry Peck, said, "It's hard for us to walk away from that. But this frees up time for him. And it sure frees up a lot of money for us."

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How much money? Try $7 million a year. To stand in front of cars. And wear a logo.

Niiiiice, but not when you're looking for a government handout.

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