Posted on 01/02/2009 2:29:14 PM PST by Rufus2007
GMAC may be in financial trouble, but that isn’t stopping the auto lender-turned-bank holding company from maintaining its corporate sponsorships.
In October, GMAC changed its legal status so that it would be eligible for TARP funds passed by Congress. Late last month, GMAC was approved to receive a $5 billion lifeline from the U.S. government. However, the company is still maintaining its sponsorship of a collegiate bowl game set for Jan. 6 in Mobile, Ala.
“There’s about 34 bowl games, 30 of which are sponsored in one way or the other,” Fox Business Network’s Jenna Lee said Jan. 2 on the Fox News Channel’s “Happening Now.” “The lower-level, the mid-level games pull in about six figures to have your name attached to one of the games – that’s the estimate. And the big games, let’s say the Rose Bowl for example, or the Sugar Bowl, or the Orange Bowl – those figures go upwards of $5 to $6 million for some sort of sponsorship.”
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(Excerpt) Read more at businessandmedia.org ...
LOL!!!
Stop making sense!!!!
It’s also kind of funny to read the PGA schedule and see how many tour sponsors may need to be “rescued”:
Bob Hope Chrysler Classic
Buick Invitational
FBR Open
Arnold Palmer Invitational presented by Mastercard
Puerto Rico Open presented by Banco Popular
Zurich Classic of New Orleans
Wachovia Championship
The Memorial Tournament presented by Morgan Stanley
Travelers Championship
Buick Open
U.S. Bank Championship in Milwaukee
RBC Canadian Open
The Barclays
Deutsche Bank Championship
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