Wood’s Scandal Causes up to $12 Billion Damage to Shareholders

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According to the research of two economics’ professors from the University of California, Victor Stango and Christopher Knittel, the sex scandal of Tiger Woods caused damages up to $12 Billion to the shareholder of companies endorsed by the No.1 golfer.

The study released on Monday, 28 December, estimated that the damage to Woods’ main sponsors caused by revelations of alleged extramarital affairs was approximately $12 billion.

The researchers Victor and Christopher said, "We estimate that shareholders of Tiger Woods' sponsors lost $5-12 billion after his car accident, relative to shareholders of firms that Mr. Woods does not endorse."

They also added, "Our analysis makes clear that while having a celebrity of Tiger Woods’ stature as an endorser has undeniable upside, the downside risk is substantial, too,”

Tiger Woods is considered as the world’s wealthiest athlete. He used to earn approximately $100 million a year from endorsement deals before his troubles. But when, on December 11 he confessed the “infidelity” charges to his wife Elin Nordegren, some of his sponsors backed away from him (like Gatorade drinks of PepsiCo Inc.).

The researchers studied sponsors of Tiger Woods including Accenture; AT&T; Tiger Woods PGA Tour Golf (Electronic Arts); Gillette (Proctor and Gamble); Nike; Gatorade (PepsiCo); TLC Laser Eye Centers and evaluated the estimated damages by their stock prices that were available, through quoted prices for the parent companies.

Overall, Knittel and Stango concluded that the scandal reduced shareholder's value in the sponsor companies by 2.3 percent, or about $12 billion.

Madonna Buys 6 M Pounds’ Horse Ranch

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The beautiful Pop singer and actress Madonna has reportedly paid 6 million pounds to buy a horse farm.

According to the reports, the 51 year old singer has bought the horse farm "Wild Ocean Farm" in Hampton, which is situated in New York State. The farm stretches over the vast land of 30 acres.

A source said, "Madonna is thrilled the ranch is now hers."

The pop diva, Madonna, bought 'Wild Ocean Farm' from designer Calvin Klein`s ex-wife Kelly. Currently the farm is being used to train show horses. Though Madonna is only allowed to buy the ranch on the understanding that she will keep it as a working equine centre.

The famous singer is a keen horse-rider and some reports say that she is also interested in plot of land adjoining the horse ranch, which costs approximately 1.5 million pounds. She is making enquiries into buying it so that she can build a mansion near her expensive property.

‘Women Like Bad Boys’ Says Jude Law

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Renowned English actor Jude Law, who recently reunited with former girlfriend actress Sienna Miller, says women like bad boys.

The 32 year old actor has said, "I think women like bad boys and that has been my experience. I just think it's kind of a given. You know, at a certain age you figure out what works for you and being a good boy never worked for me. And if you are a bad boy, women would like that."

He also added, "But, eventually, you have to grow up and realize relationships are hard work. It is like cultivating anything. They need attention."

Well, after so many relationships at last Jude has discovered the secret of strong relationship. May be this time his relation with Sienna Miller will run for longer period of time!

3 Idiots Breaks All Records, Earns 100 Crore in 4 Days

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Raj Kumar Hirani's film "3-Idiots" has created a record by grossing over 100 crore in its first four days. Reportedly, the film has been released with 2000 prints across 40 countries. The film has been distributed by Reliance BIG Entertainment.

"3-Idiots" is based on Chetan Bhagat's bestseller "Five Point Someone". The producer of the film is Mr. Vidhu Vinod Chopra. Mr. Amit Khanna, the Chairman of Reliance Big Entertainment said, "We are privileged to have been associated with '3 idiots' and its immensely talented team led by Vinod, Aamir and Raju. The ramp-up to Rs. 100 crore in 4 days is phenomenal and we are confident that the film will continue to blaze new records in the weeks to come".

Vidhu Vinod Chopra added, "Response has been overwhelming from all over the world. Aamir, Raju and I knew from the responses earlier on that people liked the film but this is something else? We have got reports from places like Australia that they have reduced ‘Avatar’ shows and increased ours".

According to a source, the film's collection has beaten the initial earnings of another Aamir Khan starrer "Ghajini". "Ghajini" was considered as Hindi cinema’s highest grosser till date, with 30 percent more earnings till Sunday night.

Mr. Chopra said, "'3 Idiots' is the highest grossing Hindi film ever in Australia on its opening weekend. Similarly in the US, I have been given to understand that ‘3 Idiots’ would be highest ever for a Hindi film".

Reportedly, the paid preview of the movie has garnered over Rs.9 crore worldwide. A source revealed that the film's budget was Rs.80-100 crore.

Paris Hilton Vows Never to Appear on “I’m A Celebrity”

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Socialite Paris Hilton would never appear on the reality TV show "I’m A Celebrity… Get Me Out of Here!" Her decision is not going to change; even if the producers offer her lucrative money to appear in the reality show originated in Britain.

The show features many stars, stuck in a jungle for several weeks. And they are forced to take up challenges like eating bugs to earn their food rations. They have to dwell with terrible wild animals. The show can be considered as the most horrifying show of Britain's National TV.

The socialite has decided not to appear in the show. She said, "They’ve asked me to do that show so many times. I wouldn’t want to do that, I couldn’t eat bugs and do all those crazy challenges. I might do it for fun, on a camping trip with friends but not on national TV".

Lindsay Lohan Celebrated Christmas in the Court

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This festive season when the whole world celebrated Christmas, poor Lindsay Lohan had to go to court. Her Christmas festival celebrations were spoiled by her parents as they were fighting over child support issue which took her to the court.

The actress’ mother Dina accuses her ex-husband Michael of failing to pay USD 40,000 (GBP 25,000) in child support. She dragged Michael to court on 23 December.

Dina and Michael have three kids, Lindsay and her two younger siblings Aliana and Dakota.

According to Dina, her ex-husband has made a considerable sum of money after releasing taped private phone calls with Lindsay to the media. Now she wants him to hand over the payments he allegedly owes.

Mother of 23 year old actress, Dina told reporters, "It is sad that the day before Christmas Eve, I was back in court with Michael over child support. He claims he's broke and can't pay – yet he drives around in a Mercedes and has a house in the Hamptons. He got paid for selling tape recordings of private conversations relating to Lindsay, but he won't pay for his children."

Though, Dina has yet not got her share of money from Michael but she is hoping to celebrate New Year (10) with her kids in grand style.

She said, “A lot has happened, but we’ll end the year on a positive note. We always have a big celebration; we always invite all manner of strays and friends to join in.”

Priyanka Chopra Will Seduce 7 Husbands

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It seems that Priyanka Chopra has got so much experience that she is ready to experiment with roles. First she performed 12 different roles in Ashutosh Gowarikar’s "Whats Your Raashee", now audience will see her seducing 7 MEN (husbands) in Vishal Bharadwaj's next untitled movie.

This would be Priyanka's second movie with director Vishal Bharadwaj. Their first movie "Kaminey" was a super hit and critically acclaimed too. Priyanka was appreciated for her marvelous performance in "Kaminey" and when Vishal offered Priyanka second movie she accepted it willingly.

Talking about her untitled movie, Priyanka said, "Vishal’s next film is a huge canvas film and it really IS a challenging role for me. I am really looking forward to it. The film is a dark comedy and has been brilliantly written. In recent times, for me every role that I have performed be it Fashion, Kaminey or What’s Your Rashee, the films have been difficult and the roles a real tough challenge to portray. However, I believe they have brought out the best in me.”

Though director Vishal Bharadwaj has signed Priyanka for the main role (seductress) but it is still unknown who will be the seven husbands.