Kellogg Flubs by Booting Phelps

It almost seems odd that there is no fresh Michael-Phelps-smokes-reefer news on Monday. Not yet, anyway. Keep your fingers crossed.

If anything, the negative attention has now shifted to Kellogg, the company that has been paying big bucks to Phelps to endorse Frosted Flakes cereal. Last week, the company made a big show of not renewing Phelps' endorsement deal, which was about to expire.

"Michael's most recent behavior is not consistent with the image of Kellogg," a spokeswoman said in a statement. "His contract expires at the end of February and we have made a decision not to extend his contract."

Never mind that the contract almost certainly would not have been renewed anyway. Kellogg also ended its endorsement deal with the U.S. Olympic Team.

Gawker writer Owen Thomas last week called Kellogg's ploy "the most boneheaded move in the entire history of all celebrity endorsements ever." Arguing (somewhat speciously, given the existence of Oreo cookies) that breakfast cereal "is the favored foodstuff of THC-induced munchies victims everywhere," Thomas asked: "Has any brand ever been more out of touch with its customers?"

Saturday Night Live picked up on that theme on Weekend Update, with anchor Seth Meyers noting how many of Kellogg's brand mascots - the Keebler elves, Tucan Sam - are "wild-eyed cartoon characters with uncontrollable munchies."

Kellogg, says CNBC's Darren Rovell, "is probably facing more heat than it expected." He wanted to know why the company, if it is so appalled by Phelps' behavior, has not pulled products bearing his image from store shelves. His repeated attempts to reach the company went unanswered.

Now there are more than 30 Facebook pages calling for a boycott of Kellogg products.

Last week, Rovell wrote of Kellogg, "shame on you. You shouldn't have issued a statement and used your corporate power if you weren't really going to act on anything."

Meanwhile, Subway has indicated that it will continue using Phelps as a spokesperson, showing that the company knows who its target audience is for the Five-Dollar Footlong.