Shark: Finchem Must Be Using Smoke And Mirrors

Derek Lawrenson scores an exclusive interview with Greg Norman, who talks about how losing the Open last year was nothing compared with laying off his staff.

In a sidebar he also is quoted about the PGA Tour:

United States Tour: Commissioner Tim Finchem must be using smoke and mirrors to keep it buoyant, that's all I can say. Either that or he's working his way through a huge war chest. We run one tournament and I know how hard it is getting sponsorship. Multiply that by how many tournaments he runs. I wouldn't want to be in his shoes, to tell you the truth.

And this on the U.S. economy:

It's dead and it's a long time before it's coming back. Run what's considered a small to medium business like mine, in the $200million to $500m turnover range and there's no incentives to grow. It's going to take a long time for business to recover and the rest of the world is going to recover quicker than America.

Comments

[Polictical Correctness is a crime]

And Harvard B School graduate Mr. Norman bases his pronouncement regarding America on his detailed knowledge of the economy and the Nobel Prize he received economics?

[Jack]

I owned a small business. My small business grossed less than $0.5 million per year. I sold it for less than Norman pays for jet fuel annually.

Maybe it was really a teeny-weeny business. Or a hobby.

[Steve Wozeniak PGA]

PC must be living in a bubble, Norman's spot on again regarding business sense.....

I bet he moves a bunch of stuff to India and KILLS.......

www.stevewozeniak.com

[NRH]

Oh, he must be pulling all the shark logo apparel off the shelves in the U.S. then. Right? What is his citizenship status by the way?

[Taylor Anderson]

Given the current political and economic climate in the US, Norman is, unfortunately, likely correct. China and India, if they constitute the majority of the "rest of the world", will recover faster because they won't and don't have the constraints placed on business in the US.

You don't have to have to be a Harvard Business School grad to figure this out. In fact, it's probably helpful to not be one right now.

[James H.]

Such sport, sneering at the Shark.

Too bad that he's correct and the most successful golfer-businessman of all time, like it or not.

[KS]

If you think there aren't more constraints on doing business in India than in the U.S., you obviously haven't done business there.

[Taylor Anderson]

Who used the word "more"? Not me.

[KS]

Uh...then explain the definition of "they won't and don't have the constraints placed on business in the US".

[paboy]

"Run what's considered a small to medium business like mine, in the $200million to $500m turnover range and there's no incentives to grow"

Sounds like he is getting comfortable. This BS that there are no incentives to grow in the US is wild to me. We all have our point where enough cash is enough cash.

Tell me I'm not willing to take the risks associated with sweetheart deals from banks and I'll believe you. Tell me I'm leveraged like crazy from keeping my business in tact and paying off my first wife, I'll belive you. Tell me my potential client's for new construction work in the USA can't get financed and I'll belive you. Yes it will take your segments of the US economy a long time to recover, real estate, leisure and aircraft (doesn't he own part of some helicopter company) are not where I would invest. There are plenty of growth opportunities in the US but other economies will grow faster for sure, when you can't break 100 it is easier to improve your score by a shot a hole, but I'll take the standard of living of a tour player (USA) over a caddie (China/India) anyday.

[Polictical Correctness is a crime]

Steve,

In my dictionary 20-20 hindsight isn't defined as being smart and I stand behind my statement that he knows very little about the economy that he hasn't gleaned from someone else's report. Nothing he said regarding the U.S. economy is substantiated by any facts he cites.

[Taylor Anderson]

@KS-

First off, you're looking in isolation of what particular business: US businesses doing business either in or with India. That wasn't my point.

I'm talking about India (and, more particularly China) businesses that are located there competing with, in particular, US businesses. If you don't think the constraints that currently exist, and are proposed to exist (including cap and trade and health care "reform"), on US business severely handicap it in the world, well, then I'm not sure what to say.