Armstrong Dropped by Nike, Steps Down as Livestrong Chairman

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Lance Armstrong has been dropped by Nike Inc. and stepped down as chairman of the cancer foundation he founded, one week after the U.S. Anti-Doping Agency detailed his alleged use of performance-enhancing substances, Bloomberg News reports. In its analysis, Forbes notes that it wasn’t so long ago that every red-blooded man and woman sported a yellow wristband with the word “Livestrong” in relief.

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