I am sure by now you have heard about the car accident that Tiger Woods was involved in last week. Let me begin by saying I am a Tiger Woods fan. I have never been interested in golf but I have always been interested in Tiger. On Sunday Tiger issued a statement on his website. That statement is considered web copy. Web copy is a script. Today Tiger issued another statement.
What really surprised me about Tiger's script was he chose to continue to ask for privacy.
Here is his statement.
"I have let my family down and I regret those transgressions with all of my heart. I have not been true to my values and the behavior my family deserves. I am not without faults and I am far short of perfect. I am dealing with my behavior and personal failings behind closed doors with my family. Those feelings should be shared by us alone.
Although I am a well-known person and have made my career as a professional athlete, I have been dismayed to realize the full extent of what tabloid scrutiny really means. For the last week, my family and I have been hounded to expose intimate details of our personal lives. The stories in particular that physical violence played any role in the car accident were utterly false and malicious. Elin has always done more to support our family and shown more grace than anyone could possibly expect.
But no matter how intense curiosity about public figures can be, there is an important and deep principle at stake which is the right to some simple, human measure of privacy. I realize there are some who don't share my view on that. But for me, the virtue of privacy is one that must be protected in matters that are intimate and within one's own family. Personal sins should not require press releases and problems within a family shouldn't have to mean public confessions.
Whatever regrets I have about letting my family down have been shared with and felt by us alone. I have given this a lot of reflection and thought and I believe that there is a point at which I must stick to that principle even though it's difficult.
I will strive to be a better person and the husband and father that my family deserves. For all of those who have supported me over the years, I offer my profound apology."
Tiger Woods is not just a person he is an industry. He built his empire with well crafted, persuasive scripts.
Corporations loved him because his image of success helped them sell products. His endorsement of their products was a part of their script.
Tiger gets paid $100 Million per year to endorse products because having his name in those companies scripts produces billions in sales.
His image is no longer gold to those companies. In other words using Tiger Woods name in the company script is no longer going to produce the same level of sales.
Tiger most certainly some of his endorsements.
Be watching Tiger’s scripts in the future. Based on those scripts you will be able to predict if the endorsement deals will come back. (Assuming he loses them as I am predicting)
Always remember everything is a script. A script is simply words in sequence that have meaning.
Hi Eric:
First let me say thank you for some of the terrific insights you have dispensed in the past.
That being said, I could not disagree with you more in this case.
As a family guy yourself, you should know there are some things you simply don't put a dollar value on. I actually applaud Tiger's stance because he is in effect saying, "There are certain things in my life that are worth more than even $1 billion."
Instead of calculating which approach would save his endorsements, he simply boldly stated some things are worth more than endorsements. He did what he thought was right, and didn't let potential lost dollar value influence him.
Maybe a lousy business decision. But sometimes in life business plays second fiddle.
Second, HUGE difference between him and Mark McGwire. Tiger, basically admitted he blew it within days of the incident. McGwire dodged the issue totally with a non-response. No apology. Just a blatant dodge. And only did that when subpoenaed by Congress.
Third, probably the situation closest Tiger*s is Kobe Bryant. Kobe's is actually more extreme because there was an allegation of rape involved. Kobe reacted similarly. Immediate statement. Then basically nothing while his court situation played out.
Yes, Kobe's endorsements took a dive for years. But he is basically back. MVP of the league a few years ago. A very famous viral ad of him leaping over a speeding Aston Martin:
http://www.youtube.com/watch?v=BIWeEFV59d4
Will Tiger's immediate stock take a dive? You bet. But like Kobe, with some astute management, he will be back.
But he is doing the exact correct thing. And believe me, he's not going to have to beg on the corner to pay his mortgage.
To paraphrase a line Tiger might sign from the musical Evita, "Don't Cry for me, Eric Lofholm!"