Nike, Anheuser Busch, Trek Bicycles. Those are just three of the companies that severed their ties with Lance Armstrong in the last 24 hours
Their decisions came on the heels of a damming report issued last week by the United States Anti-Doping Agency, which released a report claiming that Armstrong was at the center of a massive, sophisticated doping ring.
Yesterday, the cyclist stepped down as chairman of his Livestrong cancer fighting charity
In a statement Armstrong said he wanted to, quote, "spare the foundation any negative effects as a result of the controversy surrounding my cycling career"
For more on this, we're joined by Howard Bragman, a crisis communication specialist and Vice President of Reputation.com.