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The Basis of Golf by Chuck Evans
Firms continue to stay on course
| Firms continue to stay on course |
Golf remains vital way to connect with clients
Sunday, June 15, 2008
BY KEVIN MANAHAN
Star-Ledger Staff
Everywhere you turn, economic bad news is coming at you like the Giants' pass rush on third-and-long.
Gas and food costs are climbing, but salaries aren't. Home prices are plummeting, and foreclosure tour buses, filled with bargain hunters, are rolling through the nation's swankiest neighborhoods. As economists debate whether this will be a deep or shallow recession (or if it's a recession at all), currency brokers are telling you what your parents have been saying for decades -- a dollar doesn't buy what it used to.
With chaos swirling around it, the business world still knows where sanctuary can be found: the golf course.
"Good economy or bad economy, you still have to do business, and, for many of us, the golf course is where we do a lot of our business," said Charles Catalano, a CIGNA Healthcare general manager, as he sat recently on the patio at the New Jersey National Golf Club in Basking Ridge, surrounded by 40 colleagues and clients.
An estimated $28 billion in annual sales by companies is attributed to contacts and relationships initiated on U.S. golf courses, and despite the economy, many of them are still shelling out lots of dollars for club memberships and greens fees, according to the National Golf Foundation.
To see the rest of the article go to:
http://www.nj.com/starledger/stories/index.ssf?/base/business-9/121350459830820.xml&coll=1
Kevin Manahan can be reached at kmanahan@starledger.com.
© 2008 The Star Ledger
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