So far, so good: Speedo and watchmaker Omega said they're keeping endorsement deals with Michael Phelps, despite pictures of the champion swimmer smoking pot. But he must pretend to quit weed forever.

Phelps apologized for his actions, just like he did after being arrested for driving drunk following the 2004 Athens games, right down to the part where he said "it will not happen again." It seems to be working, so far at least. Here's a rundown of Phelps' sponsors, and their positions on the incident:

  • Speedo - Sticking with him ("we know that Michael truly regrets his actions")
  • Omega - sticking with him ("involves Michael Phelps's private life and is, as far as Omega is concerned, a nonissue" — the Swiss are awesome)
  • Subway - "monitoring the situation," like it's some kind of ballistic missile attack, sources told the Wall Street Journal
  • Visa - no word
  • Kellogg - no word
  • Nike - no word

A sports communications expert told AP that Phelps can't be seen with demon reefer ever again:

"My prediction would be that this will pass," he said with caution. "If it does happen again, it'll be twice the story and it will hurt him."

That's right, Michael: No marijuana, ever again.

Unless you win a bunch of Olympic medals a THIRD time, and then you're doing yet another bender, who are we kidding.

In the meantime, go ahead and dabble responsibly in sin, just stay away from the cameras.