In the April, 2009 Golf Digest writer Alan Pittman compiles the magazine's annual "Money List" of executive compensation in golf. I have to say, it's wonderful to see all of these non-profit organizations able to pay their top margin men so well as they face major cost cuts elsewhere. But hey, if they didn't pay them this well, they'd get scooped up by other corporations the US Postal Service errr...by someone.
Let's giggle at some 2007 compensation numbers, shall we?
Tim Finchem: $4,757,458
Pittman notes that Finchem's compensation broke down as follows:$1.3 million in salary, $3.2 in bonuses and $240k in benefits. Since Finchem's bonus is believed to depend in part on purse growth and other "growth" (explaining why it's his mantra), you have to figure the bonuses will be coming down in the coming years. Frankly, I'm worried for his well being.
- Ed Moorhouse/Charlie Zink, PGA Tour VP, C-COO's, $1,611,106 and 1,534,771
Ed has pulled ahead by more than $75k, but considering both were making a paltry $1,227,634 just a few years ago, I'd say there are no 3-series in their future, unless they are looking for a cute convertable to cruise I-95 on those sweltering summer weekends.
- Ron Price, PGA Tour VP, CFO and Tom Wade, VP, Chief Marketing Officer, $1,081,595 and $1,028,879
Two more millionaires in the PGA Tour executive ranks! I bet the players love reading this exciting news.
- Joe Steranka, PGA of America CEO, $1,010,998
Poor Jim Awtrey only made $662,751 in his final year with the PGA of America. I'm getting weepy, but then there are the USGA salaries which really tug at the heartstrings.
- David Fay, USGA Executive Director, $746,905, Dick Rugge, Senior Director Equipment Standards, $549,727, Mike Butz Deputy Ex. Director, $493,090, Barry Hyde, CMO, $307,314, Peter Bevacqua, CBO, $293,900
$2.391 million for the top five in executive compensation. You just can't find bargains like that these days.
- Carolyn Bivens, LPGA Commissioner, $521,699, Ty Votaw, PGA Tour Exec. VP Communications and former LPGA Commish, $521,515
Well, I suppose you have fewer headaches in Ponte Vedra than Daytona Beach, Ty. That should ease the $184 deficit blow.
And finally, your LOL, You've-Got-To-Be-Kidding-Me Award winner for 2009:
- Stephen A. Hamblin, American Junior Golf Association Executive Director, $352,050
For the entire list, see your April Golf Digest, page 52.