Back then: Brian Woods cmo was putting up his dukes as captain of EM’s third annual Marketing Dream Team. During his time at the mortgage lender he fine-tuned the marketing mix boosting activation around Major League Baseball to connect with consumers as well as sponsoring the Rolling Stones Tour Ameriquest Field and the Super Bowl Halftime Show.
Now: What we didn’t know was that the mortgage industry was poised for a major fall. Faced with an unprecedented number of foreclosures and declining profits Ameriquest wisely backed out of its sponsorship deals. In April the Texas Rangers removed its name from its stadium ending a 30-year $75 million sponsorship after just three years. It sold the final two years of a three-year sponsorship of Greg Biffle’s NASCAR Nextel Cup car. The company declined to comment for this article and now we know why: This past April parent company ACC Capital Holdings laid off nearly 3 000 workers and closed all but one call center in Orange CA. In September Citigroup acquired the company’s assets. Game over.
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