Wall Street's Woes Affect Golf
By Kickntrue on 9/24/08
The financial troubles of Wall Street and the US markets are causing a strain on the game of golf.
Aside from comprising the rank-and-file of numerous New York metropolitan-area clubs, financial institutions are major supporters of championship golf.

According to Jon Podany, the PGA TourGÇÖs senior vice president of business development, current commitments from such sponsors include Barclays, Deutsche Bank, FBR, Morgan Stanley, Northern Trust, Royal Bank of Canada, Stanford Financial, Travelers, UBS (Players Proud Partner), U.S. Bank, Wachovia and Zurich. Fortunately for the Tour, no imminent departures are expected.
Of course- the financial impact goes far beyond just the pro level. Us regular old Joe's are making the same money while the cost of everything else goes up. Discretionary spending is being cut more and more- especially by those with fixed incomes.

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[ comments ]
badgolfergreg says:
Fixed incomes? Heck who's not on a fixed income. The $#@% oil companies are bleeding us dry. The cost of gasoline is affecting everything cost-wise, and reducing the disposable income of us "regular old Joe's" which, of course, is what we use to play golf. It's just a matter of time before green fees go up to help cover the increased cost of course maintenance(fuel costs).
9/24/08
 
Ben Crane says:
I'm thinking of selling a kidney, but unsure how that will affect my handicap
9/24/08
 
golfgirl says:
Yes, not to mention all the manufacturers, especially the small independant manufacturers, of clothing and accessories and equipment. They'll surely be affected by this epic economic failure we seem to be collectively sinking into.
9/24/08
 
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