New names at Tiger tourney

Sitting in front of the tube watching golf can actually tell you a thing or two about changing fates of the business world. This weekend's Chevron World Challenge in Thousand Oaks, the one that Tiger Woods hosts, used to be called the Target World Challenge, but the retail giant opted out of its deal last spring. The other principal sponsor this year is Bank of America, which takes over from Countrywide, the mortgage lender that B of A acquired about a year ago. Not having the Countrywide name is a little weird, given the company's formerly large presence in the area. Corporate headquarters were located in Calabasas and ex-CEO Angelo Mozilo was (is?) a long-time member of the ritzy Sherwood Country Club, where the event is taking place. When the sponsor changes were announced, Sports Business Daily reported that the golf tournament's organizers was seeking around $7 million a year.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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