Business Edge for Thursday March 15 2001


The latest:
EL NI'O GOES IMG: Spanish sensation Sergio Garcia has signed a multiyear representation deal with beragents International Management Group. Garcia has already won more than $2 million at the ripe old age of 21. Hes No. 16 on the World Golf Rankings.
Clarke Jones will handle Garcias account for IMG from the companys Cleveland headquarters. Jose Marquina, Garcias former agent, could not be reached for comment..
GOLF TRUST MAY DECIDE TO PACK IT IN: Real estate investment trust Golf Trust of America, which owns 44 golf courses, has filed a form with the Securities and Exchange Commission to schedule a special stockholder meeting. At that meeting, stockholders will decide whether to begin the process of liquidation of the company. The problem: Many lessee-operators of GTA golf courses arent paying up.
Our board has concluded that continuing our current business plan is not likely to maximize stockholder value, said Golf Trust in the Form PRES14A filed March 15th. We have experienced multiple lessee defaults over the past year and face a risk of additional defaultssince a number of our lesseesare not generating sufficient cash flow to cover their rent obligations, the statement continued.
The entire form is available at the SECs website,, at
ON THE WILD SIDE: In case you were wondering, golf course superintendents would rather have deer and elk around than geese. A poll of members of the Golf Course Superintendents Association of America showed that geese and other ground-feeding birds are far and away the species that cause the most damage to their courses. Forty-one percent indicted geese as the major culprits. Moles were a distant second with an 11 percent disapproval rating. Deer and elk got a 10 percent nasty rating, and for you Caddyshack fans, gophers were next at 9 percent.