Professor Elam

Accounting & Investing Info for San Antonio A & M

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$1 M Up in Smoke

Michael Phelp 

has lost Kellogg as a sponsor. Phelps was shown in a British tabloid apparently inhaling marijuana using a 'bong.' THe photo was apparently taken by a camera phone at the er ah event. 

We are studying ethics in accounting.  There are lots of cameras around all of us these days. It pays to make sure your behavior is well, photo perfect….oh estimates are about a million a year from Kellogg, most other sponsors are standing by Mike, well upwind anyway….
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3 responses to “$1 M Up in Smoke”

  1. Isabel Amesquita Avatar
    Isabel Amesquita

    I think this was a real irresponsible move on Michael Phelps. What an example! He breaks records and then says yes to drugs. What are kids going to think now. Hey drugs are not that bad.

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  2. Daisy Castillo Avatar
    Daisy Castillo

    What is worst is that kids are already saying that. Apparently there has been an overwhelming amount of support from kids/teenagers saying that they now idolize Michael Phelps because he does do drugs. But at the same time, what about other athletes ? I just heard that the baseball player, Alex Rodriguez used “enhancing drugs” during a time period of 2001-2003 and he blamed it on the culture and even went on to say that at that time you could walk into GNC and obtain supplements that would cause you to test positive for drugs in your system. Michael Phelps loses a sponsor and A-Rod loses the support of some of his fans but what about the kids ? They start to lose their ethics and think this is ok. Talk about paying a price.

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  3. Dennis Elam Avatar
    Dennis Elam

    Phelps should have retired once he won the 8 medals. There is literally nothing he can do to best that achievement. After that the only direction would be down almost no matter what he did. If he continues to win meets well so what, isn’t he the best?
    And it only takes one incident in the spotlight such as this to have much taken away quickly as this young man has now learned. When I saw he had moved to a $1 M condo I suspected things would quickly go awry, they did.

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