Back at the turn of the century, I attended a special event at Women in Communications in Manhattan. The speaker was an executive from golfing media. You bet, we were there to get the edge on how to leverage that sport for elite networking. That was then.
Now, as Business Insider notes, golf is fading into irrelevance. Strivers have not been taking to the game. A sign of the times is the lousy Q2 Dick's Sporting Goods had. Store sales were down 9.3%. That was worse than analysts predicted. Here is the coverage. Several months ago, Dick's also announced that it was laying off about 500 PGA instructors.
More bad news for golf is that the SEC has been watching the courses and country clubs associated with the sport. Its objective has been to nail alleged miscreants passing along non-public information about public companies. The latest two charged with alleged insider trading have been Peter O'Neill and Robert Bray. Here is the coverage from Fortune.
There are many reasons for golf's decline. One, as in my case, is that it's a difficult game to master. My motor skills weren't up to it.
Another reason is that we live in fast time and golf is a slow game.
A third is the cost. It's not a cheap sport. And the 99% have to still think frugal post-financial meltdown. In researching and ghostwriting blogs for a bank, one topic has been how to save more. According to a Gallup poll, 62% of Americans are more interested in saving than spending. Before The Great Recession, that percentage was about at 50.