Pull The Frosted Flakes!
CNBC Sports Business Reporter
With 25 days left in their contract, the folks at Kellogg's decided to make a statement to the media that they wouldn't be renewing Michael Phelps.
This statement didn't say anything about the fact that they likely wouldn't have renewed him anyway.
This statement was put forth because the folks at Kellogg's wanted to use the Phelps incident to speak of their values.
Well, I'm asking Kellogg's to put their money with their mouth is. If Phelps' actions are so deplorable, let's see it. Let's see you spend money to pay all those supermarkets to pull the boxes off the shelves. If Michael is that damaging your brand, find out how much is out there, and buy it all out.
Short of this, shame on you. You shouldn't have issued a statement and used your corporate power if you weren't really going to act on anything.
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