Nike Sticks by Tiger

Finally some good news for Mr. Woods. Despite some criticism that last week’s apology was more robotic than revelatory, Tiger’s performance was solid enough to keep Nike from dropping the fallen golf superstar. Brand president Charlie Denson told the Associated Press that the company has “been in touch with his camp,” and that the company “has been supportive of Tiger since the story broke.” Denson admitted that Tiger has “issues he needs to deal with.” But Denson says that so long as he sorts out his personal problems before stepping back into the spotlight and onto the course, the company will stand by him. Nike has good reason to wait—the company has a $650 million golf division, and it has faced huge losses during the global economic downturn. A reformed Woods would be a huge spike in brand interest, and it’s a risk Nike is willing to take. Other companies have been less supportive, with AT&T and Accenture dropping Tiger and Gillette and Tag Heuer shelving the golf star until he gets some more positive publicity headed his way.