Monday, July 26, 2010

“Golf challenge, gala dinner fundraiser set” plus 3 more

“Golf challenge, gala dinner fundraiser set” plus 3 more

Golf challenge, gala dinner fundraiser set

Posted: 26 Jul 2010 09:47 AM PDT

A golf challenge and gala dinner to raise money for Columbia Industries in Kennewick is Aug. 20-21.

The best-ball scrambler golf event is Aug. 20 at Canyon Lakes golf course. The steak and lobster dinner with silent and live auctions follows Aug. 21.

Columbia Industries is a nonprofit group that helps people with disabilities build job skills.

People are asked to register for the golf event by Aug. 1.

For details, go to columbiaindustries.com.

Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Golf resorts endure oil spill with varying success

Posted: 26 Jul 2010 10:50 AM PDT

On the pretty shorelines and inland areas of the Gulf Coast states lies the canvas for an extraordinary golf experience. From the TPC Louisiana, an annual stop on the PGA Tour, to courses that make up the Robert Trent Jones Jr. Golf Trail in Alabama, the Southeast is usually a prime destination for summer tourists.

But the April 20 Deepwater Horizon oil spill has changed the dynamics at resort casinos and courses this summer. Some golf clubs have been affected for the worse because fewer tourists are visiting, but other venues have seen an increase in revenue because the oil spill has restricted other activities such as fishing.

The oil spill, the largest in United States history, has had a major impact on both commercial and recreational fishing. With fishing not an option for local residents and tourists, a trip to the golf course becomes an ideal replacement plan.

"We've got more business and less business from [the oil spill]," said Phillip Lalas, assistant professional at Pensacola's Perdido Bay Golf Club, a par-72 layout in the western part of the Florida Panhandle. "A lot of people are resorting to golf as opposed to fishing."

The Mississippi River estuary in Louisiana is the hatchery for about 30 percent of the nation's fish, including flounder, trout and tuna, according to Gary Smith's article in the July 5 issue of Sports Illustrated.

Near the Mississippi estuary in Avondale is the TPC Louisiana, host of the Zurich Classic. The oil spill didn't deter golfing at this Pete Dye layout in June, as approximately 3,500 rounds — a record high — were played, according to Ryan O'Dowd, sales and marketing director at TPC Louisiana.

But in Gulf Shores, Ala., a small coastal city in Baldwin County, the oil spill has had negative effects on Kiva Dunes Golf Club, as well as the sales of vacation homes and rental condos.

"I think we're down about 30 percent," Kiva Dunes Assistant Golf Professional Tyler Gregory said when asked to compare the club's revenue from 2009 to this year. "[The spill] is affecting the locals who've been here a long time."

Farther up the eastern coast of Mobile Bay is the Lakewood Golf Club, a 36-hole venue that is part of the Robert Trent Jones Jr. Golf Trail. Jason Polk, the head pro, said that business remains normal, as if the spill had not even occurred.

"We haven't been affected," Polk said. "We're blessed to be in a location that hasn't been affected by the oil spill."

The Deepwater Horizon oil spill began April 20 when a drilling rig exploded about 40 miles southeast of the Louisiana coast. At least 50 million gallons of oil have leaked into the Gulf of Mexico as of July 22, according to The New York Times, though the well has been capped and a relief well is expected to be in place by mid-August.

The oil hasn't made its way to the beaches and coastal areas of northwestern Florida, although that situation could change. Jay Iskow, director of golf and general manager of the Bay Point Marriott Golf Resort and Spa in Panama City Beach, said that he's seen sporadic tar balls near the coast, but nothing significant.

"In contrast to the media hype, our region has not been affected by the oil," Iskow said. "We always offer golf packages, but there's nothing we're doing that's Gulf-spill related."

Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Golf club helps with cost

Posted: 26 Jul 2010 08:55 AM PDT

Staff photo by Tonie Marriott | Posted: Monday, July 26, 2010 10:41 am

The membership of West Berwick Golf Club is proud to present Tucker Guisewite with $450 to help in the cost of his upcoming trip to the Optimist International Junior Golf Tournament in Palm Beach Garden, Fla. Presenting the check is Beth Browning of the Foundation for the Enhancement of Life of Wabash County (on right) and Karin Kelsey, West Berwick's Junior Golf chairman.

Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Golf Slump Won't Turn Nike Into Toothless Tiger

Posted: 26 Jul 2010 09:01 AM PDT

Nike is the world's largest manufacturer of athletic footwear, apparel and equipment. Nike's 2009 sales totaled nearly $18.5 billion, far ahead of competitors like Adidas AG and Puma.

Nike Golf is a leading manufacturer of golf equipment, including balls, clubs, footwear and apparel for men and women. It competes with the likes of TaylorMade-Adidas Golf and Callaway Golf Co. We estimate that Nike Golf contributes just under 3% of Nike's stock value, quite small when compared to the company's footwear and apparel businesses.

Global demand for golf equipment has flattened in recent years after substantial growth prior to 2007. Reasons include slow North American demand during the recent recession, widespread discounting due to increased competition, and static golf participation numbers worldwide. Below, we explain why we don't expect the golf slump to hurt Nike's share value going forward.

Golf market expected to revive

The global golf equipment market is worth about $14.5 billion a year. Rapid economic growth in China has created a new elite class, boosting demand for golf. China is currently the world's fifth-largest golf market by number of golf courses, with around 310 courses today and hundreds more in the pipeline.

India is another fast-growing market for golf. Callaway Golf, which recently launched its product line in India, forecasts 30% annual growth in Indian golf equipment sales over the next few years.

Women golfers are yet another growth segment. According to recent research, women golfers tend to buy golf outfits along with equipment that they can wear even when they are off the field. This emerging demographic is likely to play an important role in global golf sales going forward.

Even if the golf slump continues, Nike's downside is negligible

Although we forecast growth in the global golf market starting from 2010, it would be unwise to ignore the more pessimistic scenario. The global economy is still coming out of recession. Unemployment is still high in many markets, causing consumers to be cautious about discretionary spending on expensive items such as golf equipment and apparel.

Moreover, emerging economies like China and India are still small in terms of the golf market and may not be able to immediately compensate for slow demand in developed geographies like North America.

Assuming that worldwide golf demand stays weak, Nike's stock faces only a minor downside, on the order of 0.2%. You can modify our forecast above to see how changes in golf market size impact Nike's stock price.

You can see the complete $67.82 Trefis price estimate for Nike's stock here

Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.
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