The golf industry, not immune to recessionary trendsand saddled with some significant issues—from the absence of its marquee,ratings-grabbing player in Tiger Woods to the availability of lines of creditfor some of its smallest yet most crucial partners in green grass shopoperators—has no intention of sitting idly and waiting for market conditions toimprove.

Despite estimates of 200-250 bankruptcies by small,mostly mom and pop operations over the last year, the golf industry contendsits overall sector has fared better than many. U.S. rounds declined roughly 1%,overall revenues fell about 8% over the same period (-10% for teachingprofessionals, a more significant decline for golf equipment) ... Log in to view full article.