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Major companies and banks that gave up their sponsorships during these trying times. Do you think that in the big picture that was wise or do you think they buckled under to the government?
I kinda like it...not that it'll last. Rumor is Lowes didn't re-up it's Lowes Motor Speedway sponsorship, so it'll go back to Charlotte Motor Speedway. I yearn for the good ole days of tradition over the almighty dollar. Drop 'em all for all I care!
I don't think Lowes was under any kind of government assistance. On the other hand, any bank or institution that is using tax dollars IMO, should be using those tax dollars to fix themselves including paying back those funds. They should not be sponsoring sports teams.
Even better, the government should have let them all fail in the first place. It's social welfare for millionares who screwed up. This is what people need to be pissed off about. The great swindle of the American public by Wall Street and the F20 Banks.
I thought Nascar ditched Winston to be more family friendly?
In any case, I'm speaking in general terms here...not singling out the bail out banks (although, I do firmly believe they should absolutely be giving up sponsorships). I'm saying that I get tired of the Betty Crocker Kraft Brand Foods Nabisco Pennzoil Performing Arts Centers around the country! Whatever happened to good ole tradition and honoring of someone deserving for an arena or stadium name? No brand name can come close to the resonance of "The Colliseum" or the "Orlando O-rena" or "Wrigley Field" or (this pains me) "Yankee Stadium." Somehow "Verizon Wireless Ampitheater" just doesn't sound cool...not to mention that there's 5 or 6 other places with the same exact name.
From a business perspective, no. The government needs to get out of trying to run businesses and dictating what can be spent or not. Companies use sponsorships for advertising and marketing purposes. In business, out of sight is out of mind. The money spent on most sponsorships is well spent and well placed for the target market. 99% of the companies in this country have not received bail out money so they can do with it as they see fit.
^ Funny that this was posted...right as I clicked the thread, I realized I never really put in my answer to the thread's question.
Let me add this...I highly doubt anyone has ever been enticed to buy a certain product or service from a visit to a venue named for something. In fact, since it kinda pisses me off, it makes me not want to use the product or company!
So yes, it is wise to give them up. They do no good and cost tons of money.
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