Fox News' Glenn Beck loses advertisers after calling Obama a racist

Geico has pulled its ads from Fox News Channel's "The Glenn Beck Program." Lawyers.com, which is owned by LexisNexis, also has vowed not to advertise during the program, according to Color of Change, an African-American online political organization that has been urging advertisers to stop supporting the show.

Additionally, Procter & Gamble, Progressive Insurance and SC Johnson all said their ad placements during the broadcast were made in error and that they would correct the mistake.

The controversy stems from Beck's comment that President Obama is a "racist" with "a deep-seated hatred for white people."

Geico spent more than a half-billion dollars on ads last year, according to the Nielsen Co. It spent more than a quarter-billion dollars in the first half of 2009.

A Fox representative noted that Geico is dropping its ads from the show but was quick to note that it was shifting dollars to other programs.