Simpson's Carnoustie Shop Purchased With China In Mind!
/Graham Brown writes about the
Read MoreWhen you come to think of it that is the secret of most of the great holes all over the world. They all have some kind of a twist. C.B. MACDONALD
Taylor Made Introduces Non-Conforming Clubs, Sun Still Expected To Set In The West
/Brendan Mohler reports from the PGA Show floor on Taylor Made's
Read MoreQuick PGA Show Look: Cool Push Cart & 2.85 Pound Golf Bag
/I haven't seen a whole lot that excited me product-wise from the PGA Show reports, but two items did stand out on the first day of coverage.
Keely Levins tells us about Oakley's Factory Lite golf bag weighing a miniscule 2.85 pounds.
And Jason Sobel chatted with Kelly Walker to talk about Big Max Golf's American launch of a pretty cool push cart.
A video report you'll want to watch if you are not averse to push carts:
Taylor Made Pledging Millions To Kickstart Game
/Just as he did
Read MoreFinally! Extensive PGA Show Coverage!
/Longtime readers know I really could care less about most of the new stuff introduced this week, but that may stem from the longtime mystery surrounding mysterious nature of PGA Show week from an observer far away.
Read MoreNew Book: "The Little Book Of Golf Law"
/Tod Leonard profiles University of San Diego law professor Jack Minan's
Read More$2.3 Billion For IMG On $200 Million In Annual Earnings?
/Brooks Barnes and David Gelles of
Read MoreScottsdale Developer To Members Who Play Too Much: Resign!
/GoDaddy founder Bob Parsons has created quite the stir in the Scottsdale area with his email letter to members laying out his plans for Scottsdale National
Read MoreWilliam Morris Endeavor About To Become A Huge Force In Golf
/The Hollywood mega-agency is poised to be the highest bidder for IMG, golf's most historic and wide-ranging agency,
Read MoreFederer's New Agency Wants To Sign A "Leading Golfer"
/Lydia Ko is off
Read MoreJetspeed: Ramifications Of Expedited Product Cycles
/The new Taylor Made "Jetspeed" driver is an attractive looking piece of equipment based on the Tweets and photos I've seen, but it comes on the heels
Read MoreTaylorMade Believes It Will Do $2 Billion In Sales In '15
/For Immediate Release...
Read MoreEdwin Watts' Chapter 11 Filing...
/I'll leave the Chapter 11 bankruptcy of the Edwin Watts Golf Shops to the financial analysts to analyze, though no doubt the fee collectors will do well and the folks who do the dirty work will get screwed.
Read MoreRanking: Ten Best Golf Commercials Of 2013
/John Iaciofano ranks the
Read MoreWhat ClubCorp's IPO Says About The Golf Industry
/Brendan Mohler analyzes ClubCorp's decision to go public to raise $300 million to reduce debts and the rough going to date despite the company having a model that might help keep the country club sustainable.
While the details of ClubCorp's debt are somewhat vague (though a portion probably results from the overall stagnancy of the golf industry), one thing is for sure: ClubCorp needed to raise at least $160 million in net proceeds in order to pay a bond redemption. The initial price range for a share of ClubCorp ($16-$18) did not spark the demand expected, so the company was forced to sell more shares at a lower price ($14) in order to acquire the capital needed.
ClubCorp has a lot of assets, but the company has not shown significant profit growth, and thus its stock is not an enticing buy. According to Francis Gaskins, Director of Research for Equities.com, ClubCorp's top-line revenue has only grown four to five percent in the last few years, which is more of an indicator of increased prices rather than the type of growth that excites investors.
