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Adams Golf Inc. Message Board

  • thiscouldgetuglier thiscouldgetuglier Jan 24, 2008 12:46 PM Flag

    Sabbatini? Bad choice!

    Why pay money to associate with someone who is considered the biggest a**wipe on tour? He proved it again at Tiger's tournament. Bad move.

    The ridiculous mgmt compensation still exists, too. Hard to get much to trickle past Brewer and Adams (who still makes a fortune doing nothing). Also, if you go back, you'll see that they simply GAVE Brewer a huge chunk of the company at shareholder expense. Sickening.

    The best hope for shareholders is that someone buys the company and kicks Brewer and Adams out on their a**es. Of course, parachutes will go with that but at least the leeches will be removed.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I'll respond in 3 parts:

      1.) Regarding Barney Adams' 400k a year for being non-executive chairman: It's completely excessive and insane.

      2.) Regarding Chip's pay, I would tend to agree that it's too much BUT it's hard to argue with what he's done for the company since he became CEO... Adams was on the brink of extinction and now it's arguably the most up and coming golf company going.

      Warren Buffett (and others) have talked about excessive compensation this way: It's very common but nearly as big of a deal as bad mgmt. Chip's overpay is reflected in the income statement. But he's done a great job. Carl Icahn often talks about the "country club atmosphere" that tends toward overpay for executives and it's no surprise that Adams GOLF is run like that.

      As far as getting rid of Chip, I think that would be a disaster. He's done a great job operationally -- so far...

      Regarding Rory Sabbatini -- I don't consider myself qualified to pass judgement on a golf company's marketing. But given that Adams got to 90+million in sales without a PGA Tour presence, I'm inclined to think they know what they're doing!

      • 1 Reply to jews4kapler
      • depending on what they paid them, stock/cash, sabbatini and badds couldnt have been much more that running advertising on tv for the year on sat/sun during tourney's. as far as the pay packages. i am not nor have i ever been comfortable with how much these guys make. they drag a big percentage of eps that could help shareholder value, plus the t/e, country club memberships etc. if you were in chips place would you be looking to sell the company. they have it all money,rub shoulders with pros, country clubs. i am soo long this stock and get sick watching it muddle around these prices for the last yr. will someone pls take this company and get it over with. sry for the rant.

    • A controversial player like Sabbatini is a good choice for a company trying to get away from the reputation it just makes clubs for ageing baby boomers.

 

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