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Home NORMAN SAYS THE CLUB BUSINESS IS ONLY FOR THE BIG BOYS NOW:

The Great White Shark has been a part of the equipment business on and off for many years. He once had a stake in Cobra Golf that was parlayed into millions when it was sold to Fortune Brands (FO:NYSE) which owns the Titleist, FootJoy and Cobra brands. Until recently he was the face of
MacGregor Golf until it was sold to Golfsmith
(GOLF: NASDAQ). Norman knows the golf industry
well and he shared his thoughts on the equipment
business and why he decided it was time to exist it.
“I had a very small part of MacGregor,” he began. “People thought I owned it outright, but I did not, I only had a small percentage. And there was a management buyout. There was a management buyout in the UK and in the United States. We still owned the intellectual property up until a certain period of time, just recently, and we sold that off to a retailer. ?It was a decision that the senior shareholders wanted to do. I supported it. The survivors in this game right now in the hard goods business are Wall Street brands. The middle tier and the lower tier brands are going to get killed, because the Wall Street, being the Nikes and the Callaways and those guys, and the Acushnets of the world, they've got the volume and they've got the penetration to be able to survive through this. But the mid-tier brands or the smaller brands, they're going to have a harder time. And that's where we kind of saw the writing on the wall and we got out while we could.