Honda Withdraws Sponsorship

Last week, Honda had announced that they wouldn't be a sponsor for Formula 1 racing in 2009. This might cause a ripple effect through Formula 1 because they are losing one of their big sponsors. Honda is trying to focus more on making and selling cars instead of racing them. This also reflects the downturn and struggling auto companies such as G.M which is seeking a bailout from the government. This isn't only the big change the Honda is going through. Honda is also cutting 760 temporary workers from four plants because of similiar situations in the United States. Across the board different sponsors are pulling out from their respective sports, hopefully the economy will turn around so different leagues won't take drastic measures.