“Golf-Fun-loving Vegas joins Weekley in tie for Hope Classic lead” plus 1 more |
| Golf-Fun-loving Vegas joins Weekley in tie for Hope Classic lead Posted: 20 Jan 2011 05:01 PM PST LOS ANGELES, Jan 20 (Reuters) - Jhonattan Vegas, who learned golf playing with a broomstick and a rock in his native Venezuela, surged into a tie for the lead in the second round of the Bob Hope Classic at La Quinta, California on Thursday. The PGA Tour rookie, making sure he enjoys himself as much as he can in competition, fired a five-under-par 67 on the Nicklaus Private course at PGA West, one of four venues hosting the five-round pro-am celebrity event. Although he bogeyed his final hole after ending up in a greenside bunker, he ended another sun-splashed day in the California desert level with American Boo Weekley at 13-under 131. Weekley, who has not won on the PGA Tour since the 2008 Heritage Classic, birdied his last two holes for a 66 on the Nicklaus layout. Charles Howell III carded a seven-birdie 66 on the Palmer Private course to lie one stroke off the pace with fellow American Chris Couch, who returned a 65 at the SilverRock Resort. Britain's Brian Davis (66) and American Keegan Bradley (67) were a further stroke back at 11 under. Vegas, who cruised to a six-stroke victory over Andres Romero at last year's Argentina Open, charged to the top of the leaderboard with an impeccable display from tee to green. He piled up eight birdies and three bogeys to hold the clubhouse lead before being caught later on by former U.S. Ryder Cup player Weekley. "I'm just hitting it great from the tee which is always good, especially on a course like this," Vegas, 26, told reporters. "It was a great round." Asked how he felt to be at the top of the leaderboard in a PGA Tour event, he replied: "It's a lot of fun. I'm enjoying it as much as I can because we know how complicated golf can be. GOOD TIMES "I'm having a good time, as I always do. I'm just loving it, trying to play the best I can. So far, things worked out." Vegas, who reached the semi-finals of the 2007 U.S. amateur championship, has come a long way since first picking up the game from his father in Venezuela. "I hit plastic balls, rocks, whatever I could find and start hitting everything around the house, breaking windows and all kinds of stuff," he said. "That's kind of how my game started, just by looking at my dad. He's always been a big fan of golf and so just by looking at him I started doing it." Weekley was delighted to enjoy another productive day on the greens after struggling with his putting at the end of last year. He has switched to a new 34-inch long putter for this week and, so far, the move has reaped instant reward. "I feel comfortable with this putter," Weekley said after totalling 27 putts on the day. "From three to 15 foot, I feel like I can make it. I was hoping that this would happen." Weekley had never met Vegas until the end of Thursday's second round and said he knew very little about the PGA Tour rookie from Venezuela. "I ain't got a clue," the beaming American added with his laidback, southern drawl. "First time I ever shook hands with him right there. But you got to show a little respect, you know. I mean he's on the leaderboard." Among the bigger names competing in the third Tour event of the season, former world number one David Duval was at nine under after carding a 67 at La Quinta Country Club and a stroke in front of last year's money list winner Matt Kuchar (70). (Writing by Mark Lamport-Stokes; Editing by Rex Gowar; To comment on this story email sportsfeedback@thomsonreuters.com) This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| With Yes!, Adams Golf expands sales frontier Posted: 21 Jan 2011 11:25 AM PST Late last year Jim Furyk plucked a Yes! Golf putter out of a bargain bin for $39 and used it to claim the $1.35 Tour Championship and the $10 million bonus as the winner of the 2010 FedEx Cup playoffs. Adams Golf hopes it will earn a similar return on its investment. The Plano, Texas-based equipment maker outbid the competition for Yes! Golf, paying $1.5 million for the brand and its related assets in U.S. Bankruptcy Court. It's no secret that Adams Golf has entertained the idea of purchasing or partnering with an independent putter brand for some time. Under the leadership of CEO Chip Brewer, Adams has pursued an aggressive, multi-faceted growth strategy, while using caution in evaluating acquisitions. Brewer engaged in conversations – some cursory, some intense – over the last decade, but invariably he passed every time. "We were always pacing and looking for the right opportunity," Brewer said. "We never wanted to be so enamored that we overpaid." So when Brewer learned Yes! was available, he pondered the opportunity again. The parent of the Colorado-based putter company filed for Chapter 7 bankruptcy last November, forcing the liquidation sale. Brewer met with his management and sales team, and even floated the idea to trusted retail customers. Then he conferred with his board. There was strong sentiment to bid in the auction, which was held Jan. 18 in Denver. Adams' chief financial officer, Pamela High, represented the company in Denver. Brewer listened on a phone line for eligible bidders. (Parties interested in submitting a bid were required to post a $25,000 refundable deposit prior to auction.) Brewer said six bidders participated, and that the auction was more heated than he expected. By the time the bids climbed to the $800,000-$1 million range, only one other bidder, Steve Lee, Yes! Golf's Korean distributor, remained. Brewer said Adams paid "in the high-end of a good range for us." He added that he didn't think a better option would become available that has the brand image, tour validation and technology of Yes! "There's a time to be aggressive and a time to be conservative," he said. Yes! Golf was founded in 1996. Known for its concentric grooves etched into the face and for the success of Retief Goosen, who wielded its putters when winning two U.S. Opens, Yes! achieved a modicum of success. According to financial data prepared by Yes! Golf, the company generated revenues in excess of $10 million in 2007. Yes! putters, however, couldn't sustain the momentum. In 2010 revenue dipped to approximately $2.4 million. Being an independent putter company is challenging in this day and age, Brewer said. He added: "You lack shared resources and scale. With Adams there is a significant advantage." Brewer said Yes! had achieved better sales internationally, and that Adams' distribution channels would help beef up its market share at home. As of November 2010, Yes! Golf's unit market share at on- and off-course golf specialty shops was 1.9 percent, according to research firm Golf Datatech. Brewer said he intends to keep Yes! as a separate brand, operating it similarly to Odyssey, which maintains its identity even as an asset of Callaway Golf. Adams purchased Women's Golf Unlimited in 2007, and successfully integrated it into Adams' operations. Adams re-entered the putter category in late 2009 with the a7 Select line of value-priced putters. That move yielded only limited success. "That was never intended to be our strategic play into the putter category," Brewer said. Yes! also will benefit from individuals on the Adams staff with an expertise and a passion for putters. Tim Reed, Adams' vice president of R&D, had taken on putters as something of a pet project. Earlier in his career, he worked for Odyssey and designed putters for TearDrop Golf. Michael Vrska, director of product development, can give chapter and verse on the history of the Wilson 8802. Given that Adams Golf is a public company, Brewer wouldn't speculate on any forward-looking projections other than to say he plans to "make Yes! a relevant factor" and expressed his confidence that the brand "can match or improve on recent results." Wall Street approved of the purchase. Adams' stock hit a new 52-week high of $5.99 on January 19. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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