We have an interesting situation at my golf club going on. On Thursday, we played the first of a two-day tournament. On the first day, the score for the team is the best net ball of two teammates. On the second day, the best net score for each hole from both days is taken for the team's score.
On the first day, several people noticed a team was playing alone, i.e. there was no marker playing with them to ensure their score was correct. (See Rule 6-6 a.) We've questioned the pro shop as to why they were allowed to play, without a marker, especially given the history of the particular two-some. We're awaiting the resolution.
If you should happen to play in a competition, and for some reason find that you're playing by yourself, you have to ask for a marker. If you play your best and shoot a low score, your score will look suspect because you didn't have a marker, a witness to your great playing. (See Decisions on the Rules 6-6a/1 and 6-6a/2.) If you don't have a marker, you will be disqualified and your great playing will be for naught.
By the way, the two-some shot a net 59, 14 under 73 par. It's too bad they didn't play with a marker, so there would be no doubt as to the legitimacy of their score.
As a business golf author, speaker, and coach, I write this blog to help you use golf to increase your business success.
Tuesday, July 28, 2009
Monday, July 20, 2009
Painful Finish to The Open
I was so hoping that the first TW from Stanford could sink that 10 footer on 18 for the victory, but it had no chance. Such a disappointment and such a let down.
Then, to watch the four-hole playoff was even more painful as Cink sank pars and another birdie on 18 while Watson had bogeys and worse. Just not a way for Watson to finish a tournament that should have been his on 18.
Can't take anything away from Cink though as he birdied 18 to take the clubhouse lead and force a playoff. Congratulations, Stewart Cink, on your first Major and what a memorable one it will be!
I liked Watson's talk of spirituality during his press conferences over the weekend. He felt that something else helping him during this tournament, and was willing to admit it. Whether it was his long-time caddy or whomever, he had a guiding hand with him from afar. I'd hope we've all had that feeling. Don't know where it comes from and it's hard to describe, but you have that sense things will go your way that day on the course. Congratulations, Tom, on showing golfers that youth isn't everything in golf, and maturity in life will always serve you.
Then, to watch the four-hole playoff was even more painful as Cink sank pars and another birdie on 18 while Watson had bogeys and worse. Just not a way for Watson to finish a tournament that should have been his on 18.
Can't take anything away from Cink though as he birdied 18 to take the clubhouse lead and force a playoff. Congratulations, Stewart Cink, on your first Major and what a memorable one it will be!
I liked Watson's talk of spirituality during his press conferences over the weekend. He felt that something else helping him during this tournament, and was willing to admit it. Whether it was his long-time caddy or whomever, he had a guiding hand with him from afar. I'd hope we've all had that feeling. Don't know where it comes from and it's hard to describe, but you have that sense things will go your way that day on the course. Congratulations, Tom, on showing golfers that youth isn't everything in golf, and maturity in life will always serve you.
Wednesday, July 15, 2009
Do you have golf rage?
Have you been a victim of golf rage? Yes, like road rage, it's where someone on the golf course, perhaps even a playing partner, gets enraged at something you said or did and that person gets physical (or threatens doing so) with you.
According to a NY Times article, incidents of golf rage are becoming more common.
Those folks need to take a deep breath and focus on why they're playing the game -- for the fun of it. That's the f-word that I use when talking about golf. I know it can be frustrating, but if it's not fun any longer, then that's when I need to take a break from it.
As we've been reminded this last week with several celebrity deaths, life is short. So, whether playing for business or just recreation, have FUN with golf!
BTW: No one chose Lucas Glover as the winner of the U.S. Open. Congrats, Lucas! On Thursday, the Open Championship starts. Here's the t.v. schedule. Enjoy!
According to a NY Times article, incidents of golf rage are becoming more common.
Those folks need to take a deep breath and focus on why they're playing the game -- for the fun of it. That's the f-word that I use when talking about golf. I know it can be frustrating, but if it's not fun any longer, then that's when I need to take a break from it.
As we've been reminded this last week with several celebrity deaths, life is short. So, whether playing for business or just recreation, have FUN with golf!
BTW: No one chose Lucas Glover as the winner of the U.S. Open. Congrats, Lucas! On Thursday, the Open Championship starts. Here's the t.v. schedule. Enjoy!
Thursday, July 09, 2009
Women's U.S. Open Starts Today
Today is the first round of the US Women's Open. Unfortunately because of the existing qualifying process, both Natalie Gulbis and Michelle Wie won't be playing in it. They're two of the most popular women in the LPGA, but are not on the course this weekend.
This week's tournament is being played on the Old Course of Saucon Valley Country Club in Bethlehem, PA. I played there last year with the Lehigh University's women's golf coach when my niece was considering attending Lehigh. It's a beautiful traditional golf course with ties to Bethlehem Steel. Its founder started Saucon Valley and it's a sad to see the empty high rise of the former company.
Check out the Women's Open this weekend, especially during some tumultuous times at the LPGA. Several top players sent a letter to the LPGA asking that Commissioner Carolyn Bivens resign. Commissioner Bivens and the LPGA are discussing a buyout of her two years remaining on her contract. She made few friends with questionable edits involving the press, long-time sponsors of the LPGA, and Korean players. With the economy and loss of additional tournaments, the top players decided a change was needed.
Here's the t.v. schedule:
Today and tomorrow: ESPN 2-6 p.m. ET
Weekend: NBC 3-6 p.m. ET
Enjoy!
This week's tournament is being played on the Old Course of Saucon Valley Country Club in Bethlehem, PA. I played there last year with the Lehigh University's women's golf coach when my niece was considering attending Lehigh. It's a beautiful traditional golf course with ties to Bethlehem Steel. Its founder started Saucon Valley and it's a sad to see the empty high rise of the former company.
Check out the Women's Open this weekend, especially during some tumultuous times at the LPGA. Several top players sent a letter to the LPGA asking that Commissioner Carolyn Bivens resign. Commissioner Bivens and the LPGA are discussing a buyout of her two years remaining on her contract. She made few friends with questionable edits involving the press, long-time sponsors of the LPGA, and Korean players. With the economy and loss of additional tournaments, the top players decided a change was needed.
Here's the t.v. schedule:
Today and tomorrow: ESPN 2-6 p.m. ET
Weekend: NBC 3-6 p.m. ET
Enjoy!
Sunday, July 05, 2009
Two Friends and Two Victories with a Pond Between
I awoke early this Sunday morning to watch Wimbeldon's Men's Championship between Roger Federer and Andy Roddick. Torn between wanting Andy, the American underdog and comeback kid, and Roger going for his 15th record-setting Grand Slam victory, I just wanted a close match. It wasn't just close, it was epic with the fifth and deciding match going to 16-14 games. Amazing tennis!
I had a 10:36 a.m. tee time at my club and wasn't sure if I'd make it to watch the finish. I set two VCRs to make sure I didn't miss the finish. I was thrilled to be able to see the finish at our Pro Shop with Federer victorious.
As I teed off, my foursome was still talking about the match. My Dad is soon to be 81 and has never played tennis, but he watched as much of Wimbeldon as he could. He teed off first and suddenly I was thinking golf. Before I left my home, I also set the VCR to record the final round of Tiger's tournament and wondered if Tiger knew his friend won today. If so, I knew it would spur on Tiger.
After my round, I went into the Clubhouse and found Tiger was chipping on 16, and sunk his birdie to take a one-shot lead. It was no surprise to see Tiger also victorious today.
I can only imagine the text messages between Roger Federer and Tiger Woods! Congratulations, Roger and Tiger!
I had a 10:36 a.m. tee time at my club and wasn't sure if I'd make it to watch the finish. I set two VCRs to make sure I didn't miss the finish. I was thrilled to be able to see the finish at our Pro Shop with Federer victorious.
As I teed off, my foursome was still talking about the match. My Dad is soon to be 81 and has never played tennis, but he watched as much of Wimbeldon as he could. He teed off first and suddenly I was thinking golf. Before I left my home, I also set the VCR to record the final round of Tiger's tournament and wondered if Tiger knew his friend won today. If so, I knew it would spur on Tiger.
After my round, I went into the Clubhouse and found Tiger was chipping on 16, and sunk his birdie to take a one-shot lead. It was no surprise to see Tiger also victorious today.
I can only imagine the text messages between Roger Federer and Tiger Woods! Congratulations, Roger and Tiger!
Saturday, July 04, 2009
Happy 4th of July!
Final day Sunday is going to be an exciting onoe with Tiger and Anthony Kim tied at the top of Tiger's tournament.
I loved seeing the American flag on flagsticks today. I don't recall seeing that in past tournaments on this day.
I always learn a golf tip when watching a pro tournament. During today's broadcast was talking about your golf swing and your putting stroke are the same tempo. He was commenting about a player having a hard time with his swing, and that one's swing shows up identically on that person's putting stroke. It reminded me of the importance of staying positive and confident when playing golf. And, not giving short shrift to one's mental game.
Stay positive and stay well!
I loved seeing the American flag on flagsticks today. I don't recall seeing that in past tournaments on this day.
I always learn a golf tip when watching a pro tournament. During today's broadcast was talking about your golf swing and your putting stroke are the same tempo. He was commenting about a player having a hard time with his swing, and that one's swing shows up identically on that person's putting stroke. It reminded me of the importance of staying positive and confident when playing golf. And, not giving short shrift to one's mental game.
Stay positive and stay well!
Thursday, July 02, 2009
Tiger's Tournament Blasts Off
Tiger is hosting the AT&T National at Congressional Country Club, which started today. He hopes to be a "greedy host" and take the trophy home this week, which would be fun to see.
“Hopefully people come out, not only to watch the players, but also to say thank you to all of the servicemen and women who are coming out here,” Woods said. “If it wasn’t for them, what they are doing overseas, things might be different here.”
I have always admired Tiger's support of our troops and the military. I love the symbolism of holding the tourney during the 4th of July weekend and in Bethesda, MD, near our country's capital. When asked to speak at the Inauguration, I wondered if he'd use it as an opportunity to talk about how he and Obama were of mixed race and their respective accomplishments. Instead, Tiger made a speech about his admiration of the military.
Perhaps his father's influence includes imparting the love of not just golf, but of the military and our country. Or maybe he's traveled the world and he sees no other country that gives us the freedoms that we have, which includes a guy being able to earn nearly a billion dollars because he can sink a little white ball into a hole with fewer strokes than others.
I hope the press touts Tiger and his salute to the troops with this tourney, especially those wounded in action, since they have talked down golf recently. The press seems to like to promote divisions, whether black versus white, pro- or anti-military, or high- versus low-income. They have a chance now to talk about how golf brings people together to strengthen relationships and raise money or donations for good causes. I hope they take it.
Have a safe and Happy 4th of July!
“Hopefully people come out, not only to watch the players, but also to say thank you to all of the servicemen and women who are coming out here,” Woods said. “If it wasn’t for them, what they are doing overseas, things might be different here.”
I have always admired Tiger's support of our troops and the military. I love the symbolism of holding the tourney during the 4th of July weekend and in Bethesda, MD, near our country's capital. When asked to speak at the Inauguration, I wondered if he'd use it as an opportunity to talk about how he and Obama were of mixed race and their respective accomplishments. Instead, Tiger made a speech about his admiration of the military.
Perhaps his father's influence includes imparting the love of not just golf, but of the military and our country. Or maybe he's traveled the world and he sees no other country that gives us the freedoms that we have, which includes a guy being able to earn nearly a billion dollars because he can sink a little white ball into a hole with fewer strokes than others.
I hope the press touts Tiger and his salute to the troops with this tourney, especially those wounded in action, since they have talked down golf recently. The press seems to like to promote divisions, whether black versus white, pro- or anti-military, or high- versus low-income. They have a chance now to talk about how golf brings people together to strengthen relationships and raise money or donations for good causes. I hope they take it.
Have a safe and Happy 4th of July!
Friday, June 26, 2009
Vijay Stands By Financier Allen Stanford
Stanford Financial founder, Allen Stanford, is being held for swindling $7 billion from investors. Vijay tried to put up $500,000. as bail for Stanford. The federal magistrate, however, refused to allow Vijay to post the bail because he's not a U.S. citizen.
Stanford Financial was a sponsor of Vijay's for several years, an endorsement deal worth $8 million. According to a USA Today article, Vijay wants to help, since Stanford has only been charged and not yet found guilty. It's obvious a friendship existed given Stanford's company sponsored Vijay on the PGA Tour.
As a token of that friendship, Vijay tried to help. Half a million dollars is probably not much money to Vijay. Good for him for sticking up for a friend.
Stanford Financial was a sponsor of Vijay's for several years, an endorsement deal worth $8 million. According to a USA Today article, Vijay wants to help, since Stanford has only been charged and not yet found guilty. It's obvious a friendship existed given Stanford's company sponsored Vijay on the PGA Tour.
As a token of that friendship, Vijay tried to help. Half a million dollars is probably not much money to Vijay. Good for him for sticking up for a friend.
Monday, June 22, 2009
Lucas Glover Wins the U.S. Open
As Mickelson and Duval made charges near the end of the tournament, Glover held on for the victory. Apropos that he and his wife would love New York for him to win his first major and only his second pro victory in New York.
Mickelson and Duval tied for second, along with final round co-leader, Rickey Barnes. I'm sure disappointing for all. Amy won't have Phil's trophy in her hospital room as she starts treatment for breast cancer unfortunately. And, David Duval has to be pleased with his performance, yet disappointed with his tied for second place finish.
As to Rickey Barnes, it has to hurt to shoot six-over and lose the tournament. He admits to nerves and who can blame him. But, at least he'll be going to the Open in July, thanks to this finish.
As to my contest, it should come as no surprise that no one selected Lucas Glover. Congratulations, Lucas!
Mickelson and Duval tied for second, along with final round co-leader, Rickey Barnes. I'm sure disappointing for all. Amy won't have Phil's trophy in her hospital room as she starts treatment for breast cancer unfortunately. And, David Duval has to be pleased with his performance, yet disappointed with his tied for second place finish.
As to Rickey Barnes, it has to hurt to shoot six-over and lose the tournament. He admits to nerves and who can blame him. But, at least he'll be going to the Open in July, thanks to this finish.
As to my contest, it should come as no surprise that no one selected Lucas Glover. Congratulations, Lucas!
Sunday, June 21, 2009
Tiger's Mouth
Whether on audio or by reading his lips, you've heard Tiger say expletives during his rounds. During this U.S. Open, as he struggles, I've heard or seen him drop a couple of F-bombs today.
He's fortunate to be married to Elin, who speaks Swedish. He apparently understands and speaks a few words of Swedish as well.
Maybe he should learn a couple of Swedish swear words, so he won't be caught on TV with his profanity.
He's fortunate to be married to Elin, who speaks Swedish. He apparently understands and speaks a few words of Swedish as well.
Maybe he should learn a couple of Swedish swear words, so he won't be caught on TV with his profanity.
Tuesday, June 16, 2009
U.S. Open Winner Contest
Choose the winner of the 2009 U.S. Open before Thursday, the 18th, at 12:01 a.m. PT at this survey. Selected entry will win a free one-hour business golf consultation with me. So, enter now!
Monday, June 15, 2009
Winners' Clutch Shots
I watched the end of both of tournaments this weekend, the St. Jude Classic and the LPGA Championship. I was struck by how both winners, Brian Gay at the St. Jude and rookie Anna Nordqvist at the Championship, had phenomenal shots at the end of their tournaments.
Brian Gay hit a shot into a par-3 and on the final hole, both with water on the left. Both shots ended up being close to the hole and he extended his lead by two additional birdies. While Nordqvist finished as well with a shot into the final green and another birdie.
It was great to see how both stayed within their games and their emotions and could win with even bigger margins. They didn't get ahead of themselves and instead stayed focus in hitting good shots to the end.
As amateurs, we may not be able to hit the ball as far and pure, or putt as well as the pros, but one area that we can work on is our mental game. I think if we played our shots without expectation and, therefore, upset about errant shots, our emotions will stay more level, and we'll have better rounds.
Play well!
Brian Gay hit a shot into a par-3 and on the final hole, both with water on the left. Both shots ended up being close to the hole and he extended his lead by two additional birdies. While Nordqvist finished as well with a shot into the final green and another birdie.
It was great to see how both stayed within their games and their emotions and could win with even bigger margins. They didn't get ahead of themselves and instead stayed focus in hitting good shots to the end.
As amateurs, we may not be able to hit the ball as far and pure, or putt as well as the pros, but one area that we can work on is our mental game. I think if we played our shots without expectation and, therefore, upset about errant shots, our emotions will stay more level, and we'll have better rounds.
Play well!
Thursday, June 11, 2009
Phil's Return
Phil is back from time with his wife and focusing on her medical care. He's playing in the St. Jude Classic as he prepares for the U.S. Open in two weeks.
I've not always been a fan of his play, but have always liked him as a person. He seems approachable with fans as he gives high fives and tips his cap. At the same time, I've heard he's not so nice in the press room. Given the press these days, I can understand that.
It'll be interesting to watch how he does this weekend with what's on his mind. He said he'll be driving now and suddenly start to cry. He's obviously a man that loves his wife and family, and willing to let everyone see his vulnerability. And, I'm sure if he doesn't play well or even win the U.S. Open, he won't mind. There is only one battle that he's focused on now, and the one with Tiger and the rest of the field is not it.
Good luck, Phil, and best wishes to Amy, you, and your family!
I've not always been a fan of his play, but have always liked him as a person. He seems approachable with fans as he gives high fives and tips his cap. At the same time, I've heard he's not so nice in the press room. Given the press these days, I can understand that.
It'll be interesting to watch how he does this weekend with what's on his mind. He said he'll be driving now and suddenly start to cry. He's obviously a man that loves his wife and family, and willing to let everyone see his vulnerability. And, I'm sure if he doesn't play well or even win the U.S. Open, he won't mind. There is only one battle that he's focused on now, and the one with Tiger and the rest of the field is not it.
Good luck, Phil, and best wishes to Amy, you, and your family!
Sunday, June 07, 2009
Federer Learns from Woods?
I'm watching the French Open and Federer is trying to win this elusive career Grand Slam title today. He's hitting a forehand shot that has so much spin that the ball lands and barely bounces forward. It reminds me of Tiger hitting one of his shots with a lot of spin into the green. Tiger makes the ball snake back because he hits with grooves that bite into the ball. Federer, of course, can't get that much back spin on the ball, but his soft forehand is an amazing shot to watch. I've never seen it before, and it's won Federer several points in this second match.
Tiger and Federer are very good friends. I'm sure each has text messaged the other about each of their finals today. I wouldn't be surprised if the top competitors in their respective sports have collaborated to improve their games.
Good luck, Roger!
Tiger and Federer are very good friends. I'm sure each has text messaged the other about each of their finals today. I wouldn't be surprised if the top competitors in their respective sports have collaborated to improve their games.
Good luck, Roger!
Monday, June 01, 2009
Playoff Weekend
This weekend's PGA Tour and Champions Tour both needed playoff holes to determine the victor. Congratulations to Steve Stricker, the winner at the Colonial, and Mark McNulty, the winner at the Principal Charity Classic.
Steve Stricker had to overcome several missed short putts during the round. If he had made just one of them, he would have been the winner without the extra holes against Tim Clark. Meanwhile Mark McNulty had to compete against Fred Funk for four extra holes before winning.
It made me realize how mentally tough pro golfers are and how they play a shot at a time. They must have amnesia when it comes to bad shots and putts, which allows them to then hit their next best shot.
I've only been in a playoff once and unfortunately lost in the playoff and finished second. I blame myself though because I wasn't mentally in the game. I went into the last round of a tournament eight to ten strokes behind the two leaders. When I looked at the leaderboard before I teed off, I told someone I just didn't want to finish last. But, when I was about to tee off on the first hole, I learned the two leaders were disqualified. Suddenly I was possibly in contention, but I didn't know my exact standing because the starter didn't have a revised leaderboard.
After the round, I went along with my usual routine of changing my shoes and putting my clubs away, thinking my day of golf was done. I didn't shoot well and certainly didn't think I finished in the money or would be in a playoff. So you can imagine my shock when I learned that I had to go back out to play in a playoff for the Championship. I didn't play well, and I ultimately lost on the second hole.
Where I made my mistake was thinking I was out of the tournament. I quit playing in my head and had already put my clubs away. I did so based on how I played that day, without considering how the other players shot that day.
It's clear that the pros don't think that way and are always thinking they're in contention until the leaderboard tells them otherwise. I certainly learned my lesson and will make sure to know the leaderboard the next time I play in a tournament.
Steve Stricker had to overcome several missed short putts during the round. If he had made just one of them, he would have been the winner without the extra holes against Tim Clark. Meanwhile Mark McNulty had to compete against Fred Funk for four extra holes before winning.
It made me realize how mentally tough pro golfers are and how they play a shot at a time. They must have amnesia when it comes to bad shots and putts, which allows them to then hit their next best shot.
I've only been in a playoff once and unfortunately lost in the playoff and finished second. I blame myself though because I wasn't mentally in the game. I went into the last round of a tournament eight to ten strokes behind the two leaders. When I looked at the leaderboard before I teed off, I told someone I just didn't want to finish last. But, when I was about to tee off on the first hole, I learned the two leaders were disqualified. Suddenly I was possibly in contention, but I didn't know my exact standing because the starter didn't have a revised leaderboard.
After the round, I went along with my usual routine of changing my shoes and putting my clubs away, thinking my day of golf was done. I didn't shoot well and certainly didn't think I finished in the money or would be in a playoff. So you can imagine my shock when I learned that I had to go back out to play in a playoff for the Championship. I didn't play well, and I ultimately lost on the second hole.
Where I made my mistake was thinking I was out of the tournament. I quit playing in my head and had already put my clubs away. I did so based on how I played that day, without considering how the other players shot that day.
It's clear that the pros don't think that way and are always thinking they're in contention until the leaderboard tells them otherwise. I certainly learned my lesson and will make sure to know the leaderboard the next time I play in a tournament.
Sunday, May 24, 2009
Why Daly is a Fan Favorite
John Daly is playing in the final round of the BMW PGA Championship in England today. The good news is he's attempting to make a comeback. He's lost forty pounds and has a sponsor for those loud pants that he wears.
Today though he's wearing pink trousers in honor of Amy Mickelson and her battle with breast cancer. It's a sweet gesture from a guy who has a lot of demons of his own to fight. Keep up the great work, John!
Today though he's wearing pink trousers in honor of Amy Mickelson and her battle with breast cancer. It's a sweet gesture from a guy who has a lot of demons of his own to fight. Keep up the great work, John!
Thursday, May 21, 2009
Fred Astaire--Dancing and Swinging
A friend sent me this YouTube clip and it's amazing to watch Fred Astaire dance and hit balls at the same time. You can fast forward to 1:22 when he takes clubs into his hands.
He's supposed to have been a 22 handicap. He certainly makes it looks effortless for him to dance and hit the ball at the same time.
Enjoy!
He's supposed to have been a 22 handicap. He certainly makes it looks effortless for him to dance and hit the ball at the same time.
Enjoy!
Wednesday, May 20, 2009
Is This Statistically Possible?
I played in a Ladies Invitational today, and I'm hoping someone can run the numbers on this for me. I'm not a poor loser when I lose to a plausible score. But I have to question how a team can shoot 106 for two best net balls when par is 144. That's 38 strokes under par, or 19 strokes under per each side! Somehow this team shot two net birdies for eight holes, and on the other hole, the team shot one net birdie and one net eagle. They had to do this, or the equivalent, on both sides!
You must be thinking this must be a team comprised of four scratch golfers. In fact, they're not. Lowest handicap index is 8.1, the highest is 26.6, and the other two are about 14.5. They also only took 95% of our handicap, so the number of strokes we all received were even less.
Perhaps, there was a mathematical error and it should have been 116. Or, they played a different format than the rest of us. In any case, I find it hard to believe this score is correct.
If you're wondering, the second place team shot 118 and the rest were in the 120's. If you crank out the probability of a team shooting this score, please let me know.
On a much more serious note, it was reported today that Amy Mickelson has breast cancer, and Phil is on a layoff indefinitely from the Tour. My best wishes to her and her family as she fights this awful disease.
You must be thinking this must be a team comprised of four scratch golfers. In fact, they're not. Lowest handicap index is 8.1, the highest is 26.6, and the other two are about 14.5. They also only took 95% of our handicap, so the number of strokes we all received were even less.
Perhaps, there was a mathematical error and it should have been 116. Or, they played a different format than the rest of us. In any case, I find it hard to believe this score is correct.
If you're wondering, the second place team shot 118 and the rest were in the 120's. If you crank out the probability of a team shooting this score, please let me know.
On a much more serious note, it was reported today that Amy Mickelson has breast cancer, and Phil is on a layoff indefinitely from the Tour. My best wishes to her and her family as she fights this awful disease.
Thursday, May 14, 2009
Golf and Banks
I had a conversation this morning with a gentleman who was involved with an investment bank that used to host an outing at the Masters. Given these days of criticism for banks involved with golf, this obviously occurred in the past.
In any case, the bank invited 40-60 guests for a very expensive outing at the Masters. It was extravagant, but it was worth it to the bank. The bank knew when those guests had to decide on a bank to finance a future transaction that interest points wouldn't be the make-or-break factor.
The bank knew that future deals would be made on likability, trust, relationship, service, and the like. The non-quantifiables that an invite to a memorable Masters outing would bring.
For that bank, it was a fruitful business expense because one deal out of the 40-60 guests would pay 30 to 40-fold the cost of outing. The CEO of Goldman Sachs says it best,"[T]here's a business purpose for the round of golf; it's not as if people within Goldman Sachs are playing with each other when they should be laboring at their desks. We're engaging with our clients in a context in which people can be more friendly, share more information, become closer — all with a commercial purpose, which is in the best interest of our shareholders. There was nothing wrong with it then, but it does have a different feel in the context of so much distress."
In any case, the bank invited 40-60 guests for a very expensive outing at the Masters. It was extravagant, but it was worth it to the bank. The bank knew when those guests had to decide on a bank to finance a future transaction that interest points wouldn't be the make-or-break factor.
The bank knew that future deals would be made on likability, trust, relationship, service, and the like. The non-quantifiables that an invite to a memorable Masters outing would bring.
For that bank, it was a fruitful business expense because one deal out of the 40-60 guests would pay 30 to 40-fold the cost of outing. The CEO of Goldman Sachs says it best,"[T]here's a business purpose for the round of golf; it's not as if people within Goldman Sachs are playing with each other when they should be laboring at their desks. We're engaging with our clients in a context in which people can be more friendly, share more information, become closer — all with a commercial purpose, which is in the best interest of our shareholders. There was nothing wrong with it then, but it does have a different feel in the context of so much distress."
Sunday, May 10, 2009
Steady Stenson
The last time I wrote about Henrik Stenson was when he stripped to his shorts to hit a shot in a water hazard. Today though he was flawless and victorious at The Players.
Stenson explained he was hitting the ball well, and he managed himself well. Commentators talked about his hot temper. In 2001, while playing in a tournament, he walked off the course at the 9th hole. He's obviously matured.
Tiger on the other hand has exposed himself in another way. I don't recall seeing him miss so many shots that we're so used to watching him hit. He claims that he knows what the problem is with his swing, but he can't do it yet. Given his nine months off and a new knee, it's understandable, even for the Tiger, to have this inconsistency. The good news for him though is he can play two weeks in a row without his knee being in pain.
Congratulations, Henrik! The U.S. Open will be exciting in six weeks indeed.
Stenson explained he was hitting the ball well, and he managed himself well. Commentators talked about his hot temper. In 2001, while playing in a tournament, he walked off the course at the 9th hole. He's obviously matured.
Tiger on the other hand has exposed himself in another way. I don't recall seeing him miss so many shots that we're so used to watching him hit. He claims that he knows what the problem is with his swing, but he can't do it yet. Given his nine months off and a new knee, it's understandable, even for the Tiger, to have this inconsistency. The good news for him though is he can play two weeks in a row without his knee being in pain.
Congratulations, Henrik! The U.S. Open will be exciting in six weeks indeed.
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