Michael Phelps was not the only one to "take a hit". Silicon Valley Insider reports that Kellogg's reputation slumped after dropping Michael Phelps' endorsement contract. Gold medalist Phelps was dumped after photos emerged of him smoking pot from a bong.

It started as a joke with late night comedians and talk show hosts pointing out the irony that Kellogg's products are a huge favorite among pot aficionados, and that they would soon rise up in anger. Kellogg's has since been inundated with calls whose volume has dwarfed those of callers inquiring about their peanut products. According to the Vanno Company which maintains a reputation index of some 5600 companies, Kellogg's slipped from ninth to 83rd.

As an example of the comedic aspect of the controversy, here's SNL's take on the situation: