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For anyone out there who is a golf course owner or operator, the CEO of the PGA of America has some words he wants you to hear. “We're still at a 95 percent business success rate in the golf course industry, and that's pretty good,’ said Joe Sternaka. “For an industry that relies on discretionary time and money, the last three years we were down less than one percent in rounds played, two percent last year, and we're down 3.3 percent year to date this year.”
According to Joe, the issue facing the golf course side of the industry is a lack of financing. “Every small business in this country right now is having trouble getting financing for anything,” said Steranka. “And so will there be more closures, bankruptcies, financial reorganizations because of that, the difficulty in getting access to financing? Yes. Just like there are going to be more home foreclosures and other business foreclosures. It's a message that the PGA and the other allied organizations are taking to Washington DC to talk with the Secretary of Commerce and members of the finance committee and the House and the Senate Committees to talk specifically about our industry and the need to support it like any other industry that's out there.” Where this leads to is anyone’s guess...