In spite of declarations to the contrary, I think the recession is hitting the golf business too.
Some golf equipment manufacturers and course owners are bravely stating (or wishfully hoping) that golfers are too dedicated to their passionate pastime to be affected by the current setbacks to their business or portfolios.
I think the truth is evident right outside my window. I have been following progress on the new 9-hole executive course under construction in near my condo on Nun's Island in Montreal. Recent press reports have it opening "by end of this summer", but activity has completed stopped. I'm guessing the financing dried up and everything is on hold. The same is probably true elsewhere for equipment sales and for green fees.
Are you buying that new driver or playing more this year? I'm not.