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News of the Industry News of the industry Golfcraft—Acushnet marriage cent protection against downtown fession before age 65 he is guar- Sets industry precedent competition." anteed at least 50 per cent of The recent acquisition of the Bob Murphy, winner of the the money accumulated in his Golfcraft Company, Escondido, Philadelphia and Thunderbird fund, plus interest. Calif., by the Acushnet Golf Golf Classics, and Chuck Court- Joseph Dey, Jr., Executive direc- Equipment Company, New Bed- ney are among the leading name tor, of the United States Golf ford, Mass., (reported in GOLF- golfers who currently endorse Association, was elected chair- DOM, September issue) sets a Golfcraft clubs. Acushnet, how- man of the board of Trustees of precedence for mergers in the ever, will maintain its non-en- the pension program; and Max golfing industry. dorsement policy, under which no Elbin, president of the PGA, was For the first time in this field touring pro or club pro is paid named secretary-treasurer. Other two renowned pro line manufac- to use its Titleist ball, or any trustees include: Marshall Dann, turers on the "inside" of the golf- other of its pro line equipment, executive director of the Western ing business have brought to- according to one of its officials. Golf Association; Robert Hanna, gether their products. All other executive director of the North- acquisitions of golf manufactur- PGA inaugurates new ern California Golf Association; ers, such as Wilson Sporting Pension plan for club pros Leo Fraser, PGA secretary and Goods Company, MacGregor and The Professional Golfer's Asso- Warren Orlick, PGA treasurer. the Ben Hogan Company, have ciation has recently announced Robert Creasey was designated been by larger corporations wish- details of its new pension pro- administrator for the plan. The ing to diversify their interests. gram, that will pay as high as headquarters for the set-up will With the merger, Golfcraft will $510 per month to a retired re- be in Palm Beach Gardens, the operate as a wholly-owned sub- cipient at age of 65. home of the PGA. sidiary of Acushnet under the In a special interview with "I hope" said Joe Dey, "I may leadership of Ted Wolley, its GOLFDOM, Robert T. Creasy, be able to contribute in some president, who also becomes a the PGA's executive director, small way to the success of this director of the Acushnet Com- said, "the plan has been in the pension plan which the golf pro- pany. Both firms will maintain works for several years, and is fessionals have wanted for some their separate sales force selling now following its natural course. time." to golf course pro shops only. We have not allowed the dispute "This is another indication," "This merger," says Wolley, with the touring pros to interfere said Elbin, " of the support the "brings together several ingre- with the plan. " PGA continues to receive from dients that we feel will offer When the program becomes ef- these great golf associations. The unique benefits to the golf pro- fective, the PGA will contribute members of our own association fessional and consumer as well. more than $250,000 annually. The sincerely appreciate their partici- The combination of our products club employing the pro will con- pation on our pension plan board and technical know-how, with tribute $50 monthly. A club may of trustees." Acushnet's broad marketing ex- or may not require the club pro The Travelers Insurance Com- perience and resources, will be an to contribute half. However, no pany was selected to assist in exciting one." benefits will be paid until the the administration of the plan of Although Golfcraft now has a member has been in the plan at which more than 6,000 members small amount of non-pro shop least 24 months. of the PGA are eligible to par- business, this will be phased out The least amount a recipient ticipate. in the near future. could receive would be $50 "Now, for the first time in monthly upon retiring at age 65. Surtax effect: Wilson's net the history of golf," says Dean But a club pro in the program Fails to keep pace with sales Cassell, sales manager of Acush- for six years with 25 years ser- A recent financial report from net, "golf professionals will have vice as a PGA club pro could the Wilson Sporting Goods Com- a complete line of golf equip- receive $300 monthly. A pro in pany, River Grove, 111., shows ment . balls, clubs, bags, the plan for 25 years could re- how the new federal income tax gloves and headcovers . with ceive $510 monthly. surcharge has affected its record no competition from any other Membership in the PGA can six months sales. outlet by the same company under serve as a substitute for proof While Wilson's sales of different brand names. At long of employment as a club profes- $53,209,000 for the first six last," continued Cassell, "pros sional if a pro cannot verify his months of this year were an 11 will have access to a complete employment. Under the program, per cent increase over the same line of equipment with 100 per if a member leaves the golf pro- period last year, net income of $2,989,000 was only a four per clusion is that liability coverage manufacturered by the David H. cent increase over the net income will apply for operations of any Smith Co., for pro shops only. a year ago, and not a record high. golf car while actually being used Beginning with the 1969 spring For the second quarter of 1968, for golfing purposes. Coverage fashions, the Louise Suggs line Wilson reported earnings of 85 still applies on the named in- will have such innovations as a cents per average residual share, sured's premises but any other new construction in knit shirts, compared to 88 cents in the same use away from that premises (oth- newly designed play dresses and period a year earlier; net sales er than on a golf course) must be new culottes—all tied together in of $29,836,000 comparedto covered under a separate contract color coordinated groups. $27,041,000 in 1967, and net in- for liability. Continued on next page come, after tax surcharge Futhermore, the revised home- $2,046,000 as compared to owners policy will no longer af- '69 fashion preview $2,105,000 last year. ford direct damage coverage for Continued from page 52 Wilson declined to reveal de- golf cars. A floater policy will tails of its sales in the golf equip- be required to protect against to the use of knits and a perfect ment field. loss or damage to a personally after-golf complement to the new owned golf car. knit slacks now on the market. Golf car owners beware While these two important Croston and Carr, also blazer When your homeowners insur- coverage revisions apply after manufacturers, have added new ance policy is renewed, under the Oct. 1, 1968, they do not af- colors to their line; among the comprehensive liability section of fect a golf car owner until his most outstanding are a festive the newly revised policy, personal present homeowners policy is red and a rich forest green. owners of golf cars that are renewed. For complete addresses of the operated on public roads will no companies listed above and more longer have liability insurance New rep, additional lines information on their lines, write coverage. In fact, liability cover- For Louise Suggs clothes indicating the name of the manu- age for this use on any recre- Green Tee Asociates, New facturers), to GOLFDOM Maga- ational motor vehicle is excluded. York, has announced that it will zine, 235 East 45th Street, New The only exception to this ex- represent the Louise Suggs line York, New York 10017. • Mr. Ray Hansen, Superintendent of Essex County Country • Wide space Cargo Bed with easy loading & unloading Club, West Orange, N. J., happily expresses his thoughts • Side gates swing easily and smoothly and are even removable on the new versatile Sambar. "Strong, rugged, ready • Independent suspension for big loads over rough roads Sambar handles your loads with ease, where and when required.'' • Outstanding mobility for narrow roads • Lightweight The light truck with an established record of achievement (under 1,000 lbs.) and wide applicability has been accepted as a "top per- former" by many leading golf course superintendents. • Up to 60 mi./gal. In addition to itsexcellence on the Golf Course the Sambar • Takes steep grades $1395... can also be driven on the Highway. with heavy loads Call or Write Now for Further Information! SEEN AT THE MIAMI GOLF SHOW / JANUARY / FOUNTAINBLEU HOTEL Many distributor areas now available Now used industrially by many of America s largest corporations. IMPORTED & DISTRIBUTED BY: EASTERN SAMBAR INC. 234 Bloomfield Ave., Caldwell, N.J., (201) 226-4844 INCREASE EARNINGS, SERVICE & SPACE competition to select winners in Remodel your present storage each of the four handicap flights. space, bring your bag racks The winners will represent their up to date News of club in a statewide competition in early spring. WITH NEW StlfM Project Hope forecasts that be- VERTICAL BAG RACKS tween $5,000 and $7,000 will be die industpw raised. Each year it costs $5 mil- Continued lion to operate the Hope. Green Tee also will represent for pro shops only: H.I.S. men's Golf equipment sales slack line, McMullen, Duca Di up 1 3 per cent Siena, Gregg Draddy, Marco Vel- Golf equipment sales increased io, Avant Garge, Dawsons Ltd., in 1968 by an estimated 13 per cent Hugger slacks, Carrabella Inc., over 1967, to a total of $279 and Bear Brand Ltd.
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