Throughout the last few months, more and more companies, people and events have been affected by the economic woes facing our country.
The title sponsor of the the PGA event at Riviera, came under a hailstorm after the event's sponsor, Northern Trust Corp., entertained its clients at cocktail parties, dinners and concerts. Coverage by the media at these events sent "waves" heard in Washington.
Northern Trust received nearly $1.6 billion in funds from TARP, it says at the urging of the Federal Government, and says that it is paying back some $20 million quarterly. Furthermore, Northern Trust states that it used "normal operating funds" to entertain their clients at this event. If responsible public companies are openly critiziced then few companies will continue to do so. The end result is that we will all lose. Any company involved with the Tour is doing so to improve their bottom line and create goodwill with the community they serve. Sponsoring events can help to improve the visibility of brands, help to build relationships with customers, and generate huge sums for charities serving those communities.
A company involved with the Tour isn't doing it to waste money! If we lose sponsors then we all will lose!!!
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