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July 23, 2002

Ross Berlin

Tommy Cuthbert

Prem Devadas

Pete Dye

Padraig Harrington

Jay Monahan

JAMES CRAMER: Good morning. My name is James Cramer, Senior Manager of Communications and Media Operations for the PGA TOUR and I'd like to thank you for coming here for today's important announcement.

I'd like to begin by introducing the gentlemen who will join me here on the stage. First, Ross Berlin, Vice President of PGA TOUR Championship Management; Prem Devadas, Managing Director of the Kiawah Island Resorts; Jay Monahan, Global Events Manager for EMC and Pete Dye, Designer and Architect of The Ocean Course at Kiawah Island Resorts.

Before our first speaker I would like to say thank you to the staffs of The Hibernian Society and Kiawah Island Resorts for their hard work and efforts in helping us stage today's announcement.

Now I would like to re-introduce the Vice President of PGA TOUR Championship Management, Mr. Ross Berlin.

ROSS BERLIN: Thank you James. On behalf of the International Federation of PGA TOURS, the PGA TOUR, our title sponsor, EMC and our partner, Kiawah Island Resorts, it gives me great pleasure to announce that the 2003 World Golf Championships EMC World Cup will be contested at Pete Dye's spectacular Ocean Course at Kiawah Island Resorts next November 11-16, 2003.

As many of you may know, the EMC World Cup is the fourth championship in an annual series of championships known as the World Golf Championships. They include the Accenture Match-Play Championship, the NEC Invitational, the American Express Championship and the EMC World Cup. The EMC World Cup is a very special season-ending event for us, which includes 24 two-man national teams competing in a Presidents Cup/Ryder Cup style of play; that is, better ball and alternate shot, stroke-play, for a 72-hole, no-cut tournament.

In 2000, the EMC World Cup was played in Buenos Aires, Argentina and the winners were David Duval and Tiger Woods. Last here in 2001 at the Taiheiyo Club in Gotemba, Japan the winners were Retief Goosen and Ernie Els of South Africa. And this year, 2002, the event will be played at the Vista Vallarta Club in Puerto Vallarta, Mexico.

We are extremely pleased to bring this 50th anniversary of the EMC World Cup to the low country. It is a spectacular place. We are excited to be here. We would like to thank you for coming this morning, and with this announcement, we are also pleased to inform that you our operation and management begins today. Our ticket sales begin today, our corporate hospitality opportunities and sales begin today. We'll be working very closely with Kiawah Island Resorts, Mr. Doug Lester.

And so, thank you for this attendance. And James Cramer, turn it back to you.

JAMES CRAMER: At this point, I'd like to introduce a video presentation that will give you some background into the excitement that is the EMC World Cup.

(Video played.)

JAMES CRAMER: Watching that tape, I've got to tell you one thing, that chip-in that Tiger made last year at the Taiheiyo Club, video does not do it justice. It was an impossible shot and it was just so exciting. Those are the kind of moments you get in this tournament, when players are playing for national pride.

It's truly an honor and a privilege to be joined here by Padraig Harrington, who is taking time out of his busy schedule. He is competing in the TNT Dutch Open in the Netherlands.

And Padraig, we'd like to welcome you. We're at the Hibernian Society in Charleston.


JAMES CRAMER: We have just made the announcement that the 2003 EMC World Cup will be coming to the Ocean Course at the Kiawah Island Resorts. Could you give us your feelings on that?

PADRAIG HARRINGTON: I have very fond memories of the Ocean Course. I won there in 1997 with Paul McGinley in the old format World Cup. It's a fantastic place. Actually, I really enjoyed South Carolina and Charleston, as well. It's a great part of the country. I think it's actually my favorite part of the States.

But the golf course, obviously, it's a tough golf course. If you get the wind blowing, it's very difficult. We had a nice week that week, and the course played quite benign. I think we didn't really see its tougher side.

JAMES CRAMER: We can now take questions for Padraig.

Q. Just wanted to know if you've dried out from Saturday's round at Muirfield yet, and if you can just talk about what the conditions were like playing in it? It looked horrible to watch it on TV, just wondering what it was actually like to be there?

PADRAIG HARRINGTON: Well, Muirfield on Saturday, I think the biggest problem at Muirfield was it was cold. It was real cold. I wasn't prepared for that. My hands froze up maybe for five or six holes on the front nine, and it certainly cost me a few shots. I struggled to hold on to the golf club, and, obviously, everybody else was struggling with the same thing.

What a surprise in the middle of summer to have -- somebody said with the wind chill factor, it was close to zero degrees.

Q. How much did the World Cup win in '97 mean to you in your career?

PADRAIG HARRINGTON: It's the highlight of my career, easily, up till now. I think I played a lot of amateur golf until I turned pro, and during that, you're playing for your country all the time. Nowadays, as a professional, it's much more selfish. We are always playing for ourselves, except for the World Cup. Really, it's the only team event left that you play for your country when you come from Ireland. Obviously, we play for Europe in the Ryder Cup, but it's the only time that I can represent Ireland now with the Dunhill Cup changed over formats is in the World Cup.

So it's very special. And to win in '97, we were beside myself, and Paul McGinley. It was way beyond anything we could have expected. It is to this day still the best thing that I've done in golf.

JAMES CRAMER: You have played in the first two EMC World Cups as a World Golf Championship. Perhaps you could speak on the difference in the format and what the tournament is now compared to then.

PADRAIG HARRINGTON: Probably the biggest difficulty of the tournament is you've got a two-man team, and it doesn't matter how good one guy's form is. If the other guy does not pull his weight in the competition, the team is going to struggle. That is particularly evident now with foursomes play. It can be very tough if one guy is playing well. It puts a lot of pressure on the other guy to keep up with those standards, and if he misses a few putts, it can really drag the team down. It's a tough, tough format. You don't want to let your partner down, and you don't want your partner to let you down. Mentally, it's very difficult playing with somebody else. As I said before, we are not used to that nowadays. We play on our own so much, it's a much more individualistic game now.

Last few years, obviously, Buenos Aires, it's a great country down there in Argentina and we had a great time in Buenos Aires, fantastic golf course.

I think the tournament in Japan under Mt. Fuji was possibly -- so exciting an event. You mentioned earlier Tiger Woods' chips-in. We were all sitting in the players' lounge, and I was sitting with some other teams that were in the playoff and nobody could believe they chipped in from there. It's got to be one of the toughest chips you could ever ask for. It was a phenomenal chip-in. It just made the whole tournament very exciting. It was so close, really.

The shots that Retief Goosen hit into the 18th, incredibly difficult shots to pull off, and he succeeded. It was overall, really, a great event.

Q. Padraig, could you sort of critique the Ocean Course? What you really remember, especially about the golf course itself, and are you aware of the changes that have been made?

PADRAIG HARRINGTON: I am aware of the changes, of some of the changes. Some of the holes have been lengthened, and the 18th green has been moved.

What I can remember, the golf courses are -- as I said, it's a reasonably generous golf course off the tee, and it gets a lot tighter as you get to the greens, undulating greens. As I said, if it doesn't get too windy, then it's really about good iron play, getting yourself in the right positions on the greens. There's a lot of slopes on the greens; so if you are hitting good shots in, you are going to be putting uphill. A very, very playable golf course and a good scoring course when there isn't any wind.

Obviously, it's a bit like Muirfield. If the wind blows, you're going to look for all sorts of difficulty, and it becomes a ferocious golf course.

JAMES CRAMER: We have two more World Golf Championships coming up in the next couple of months, and one of them is on your home course at Mount Juliet in Ireland. Could you comment on first, the NEC Invitational, going to Sahalee, and then the American Express Championship at Mount Juliet?

PADRAIG HARRINGTON: Obviously, with Sahalee, I'm looking forward to getting there and seeing the golf course myself. I've obviously heard great things about it and how difficult a course it is.

As regards Mount Juliet, it is my home course, a fantastic Nicklaus golf course. Possibly one of the fairest golf courses you'll ever play golf on. I'm actually looking forward to playing the Championship there. They have had a couple of Irish Opens at Mount Juliet, and they were reknowned on the European Tour as being the best events of the year. So I think any of the players who come across and play the American Express at Mount Juliet will find that's probably their best events of the year. It's just a super place to play golf; a very relaxed, very welcoming place to go to, a nice golf course. It's a course that the scoring will be reasonably good on. It's not somewhere that you will , at least I don't think, I don't think people will be struggling to shoot par. I think it's a 12-, 14-under par type golf course, and I think players will really enjoy it there. The whole package at Mount Juliet, from the spectators right down to the welcome you get from the staff at Mount Juliet, will be just phenomenal.

PETE DYE: How did you get along in Doonbeg?

PADRAIG HARRINGTON: Yeah, I think anybody will see Doonbeg, there's only one person -- even you, Pete, could not have designed Doonbeg. You have to leave it to somebody as courageous as Greg Norman. He has designed a phenomenal golf course there. Unlikely you'll get to see the likes of it anywhere else in the world. He's taken the natural terrain and used it to its most. It's a fun golf course to play. It's a frustrating golf course, as well. You could play some good golf there and your ball could run away 20, 30 yards away from a pin position with a good iron shot.

But saying that, you know, it's how golf was designed to be played 150, 200 years ago. It was never meant to be a very fair game. Doonbeg really tests your mental side, as well as your physical ability to play the game.

Q. Padraig, how much bigger or more popular can this sport become at this point? It seems to have reached just unexpected proportions. And the second part to the question is: How blessed do you feel to be playing in this era?

PADRAIG HARRINGTON: Well, all of the golfers who are playing now are very blessed. We see one of best players of all time, Tiger Woods, playing in our generation and he has brought the standard up immensely in the last couple of years.

As to whether golf can increase in popularity, it definitely can. You only need to go to Sweden -- I did a corporate day in Sweden last year, and the golf course was closed. When I finished at 5:00, obviously, the course opened up again, and it was four-deep with people waiting to get on the driving range. And every single person who was waiting was between the age of 20 and 30 years of age, as in it's a real young person's sport in Sweden.

When you see a country like that take to golf, it's not exactly the best weather conditions for playing golf, you will find that the rest of Europe will follow suit in time. It's really growing over here. I would suspect that even in the States, there's room for growth in the popularity. It's possible for kids to play, it's a great sport for their discipline. It could teach them a lot about themselves. It's a sport I think parents will lead their children into and the popularity will grow over time.

I think, obviously, Tiger Woods has done a huge amount for the glamorous end of the game at the top. He's obviously the No. 1 sportsman in the world. I think the R&A and the USGA are also pulling their weight into putting money into the coaches at ground levels and schools to ensure that everybody gets an opportunity to play the game.

I know in the likes of Ireland and Scotland, most kids are playing golf -- inaudible -- it's quite a cheap way of way of playing a sport, but obviously in other countries that's probably one of the toughest elements, where a kid whose father didn't play golf can't get into the game. I think obviously that's for the R&A and the USGA and the PGA TOURs of both the States and the European Tour to promote the game and make it accessible to all kids.

Q. I wanted to and about your schedule during the year. How do you divide your time up between the different tours? And I also wanted to ask you about this new propensity to -- and I'm speaking of Tiger in particular -- to sort of select tournaments to play in and maybe miss some of the lower level tournaments, do you think that's something that might become more popular among the better golfers?

PADRAIG HARRINGTON: I think Tiger is leading the way. He's showing the better you play, the more time you can take off and the more time you've got to take off.

It's a difficult situation because, obviously, if you're struggling for your tour card, you need to play week-in, week-out to try and make that extra cut to make the extra check, which doesn't always lead to any more money. It sometimes is detrimental.

But I think when you play well, you get comfortable that you are going to turn up and perform to the best of your ability. And when you are playing at the top of the leaderboard, you are in contention, and it does take a lot more out of you; so you do need to take more time off.

Tiger, as he's playing so well, he's got the perfect balance, and we would all like to have his balance of taking four weeks off between the U.S. Open and, say, the British Open, but some of us need to get out there and play a little bit more. You'll probably see a direct correlation between players who play well -- the better they play, the more time they take off and with players who are obviously struggling a bit more, play more.

It's one of those things. It's a very difficult -- if your form is not good, you're going to want to get out and play more. While if your form is good, you're prepared to sit back and maybe let other guys play, and you're not worried about them passing you out in the Order of Merit because you know that you are going to turn up and do well when you play.

It's a Catch 22. Play less, play well.

Q. I'm Mike Powell. I grew up in Ballybunion, caddied for 50 cents, now they are getting $50. I just want to say congratulations and we are looking for the forward to seeing you in Charleston. Thank you.

PADRAIG HARRINGTON: Thank you very much.

JAMES CRAMER: Thank you very much for taking time out of your busy schedule. We appreciate you helping us make this big announcement.

PADRAIG HARRINGTON: Thank you very much. Enjoyed being here.

JAMES CRAMER: Thank you and good luck this week. (Applause).

I'd like now like to introduce Prem Devadas, the managing director of Kiawah Island Resorts to speak about the EMC2 World Cup coming to the Ocean Course.

PREM DEVADAS: Thank you, James. Boy, everything is anti-climactic after that. That was very exciting.

I want to thank all of you for coming today. Some day we are going to have an announcement where it doesn't rain and there's no threat of rain. And I want to be brief today because we are so fortunate to have Pete Dye with us and we want to give him as much time as possible.

I also want to thank the TOUR. It is an honor to be selected by the TOUR to host the EMC World Cup, and I want to let everybody know that the TOUR really has worked with us to make this happen.

One of the things that was important to us was that it not conflict with the big football game, South Carolina and Clemson, as it did in 1997. It was originally scheduled for that weekend, and the TOUR worked to rearrange some things and make it happen the weekend earlier, and I just can't thank you enough. It's going to mean a great deal to sports fans throughout South Carolina.

I also am just thankful to be able to host another world-class event. There are few courses and few resorts in America that have the opportunity to do what we have done with the Ryder Cup in '97, World Cup, UBS Warburg Cup, and now the EMC World Cup. I think we are rapidly becoming known as one of the great places for international world-class golf and we are really looking forward to hosting this next event.

This is not only great news for Kiawah and the Charleston area, but for the entire state of South Carolina. I think that it is a big boost to South Carolina golf and to the economy. In fact, a direct impact of over $10 million to the economy here in the state and that does not begin to account for tax revenues and for jobs created. So we are very appreciative to have an event of this stature come to South Carolina.

Many of you were here for our last announcement. This is the second major announcement in less than a month. You'll recall that we announced that our new ultra luxury hotel, the Sanctuary, will open in February of 2004. Although the hotel will not be open in time to host this event, I think it's no secret to most of you that it is our goal to be able to host several major events, PGA TOUR events, hopefully, in the future.

The Sanctuary can be an important part of that as we move forward. It will be an attractive feature for Kiawah when the TOUR is considering sites for events, as will the new amenities that we are going to place at The Ocean Course that we are designing now. That will be another exciting announcement in not too long.

But in the end, I think that we as a community have an opportunity to show the TOUR how much we support world-class golf in the Charleston area, in the State of South Carolina, through hospitality packages and through ticket sales.

So I hope that with almost a year and a half before the event happens, to let people know that we'll really work hard to get -- to show the TOUR that this is an area that really gets excited about world-class golf, both from a corporate standpoint and from an individual citizen's standpoint and buy lots of tickets and do lots of hospitality. That's the best way to ensure that we have a bright future for major tournaments.

Thank you very much, again.


JAMES CRAMER: The World Golf Championships are fortunate to have four sponsors that are not only umbrella sponsors of the entire series, but the sponsors of the respective events. I'd like to now introduce Jay Monahan from our title sponsor for the EMC World Cup,EMC.

JAY MONAHAN: Good morning, everyone. Wanted to start off by first acknowledging Prem Devadas, Mr. Pete Dye, and also Mr. Tommy Cuthbert, the director of golf at Kiawah Island Resorts.

EMC corporation is thrilled that the EMC World Cup will be returning to the United States and will be played once again at the Ocean Course at Kiawah Island. We have sponsored this event, as you've heard, since 2000, and we sponsor it and we looked at it and ultimately moved forward with the event because we felt that it embodied the ultimate in team work, in sportsmanship, and it represented the globalization of golf just as you heard Mr. Harrington talking about earlier.

We feel like for the 2003 EMC World Cup, coming back to South Carolina, coming back to the Kiawah Island Resorts, will be the ultimate celebration of the vision that John Hopkins sought out to capture 48 years ago.

I would like to conclude by once again thanking the Kiawah Island resorts, thanking Mr. Dye, thanking the World Golf Championships and the International Federation of PGA TOURs and the City of Charleston. This is a huge coup for EMC and for our customers. Thank you very much.

JAMES CRAMER: I'd like to ask Mr. Tommy Cuthbert, director of golf at Kiawah Island Resorts, to come forward and make a special introduction.

TOMMY CUTHBERT: We really appreciate everybody coming today. I really do have a special guest here with us, it's Mr. Dye. He has been a wonderful asset to the Island at Kiawah. He comes weekly to make sure that we are getting everything just like it needs to be at the golf course. He has just been a godsend to us, and we really appreciate all of his effort and we appreciate you being with us today, Mr. Dye.

If you could come forward and tell some of the minor changes that we have done to the golf course to make it even better than it was before, and you've done a great job with that.

PETE DYE: Thank you, Tommy, for those kind words. I wish I could get one golf professional to echo the same thing. (Laughter.)

I finally feel like the flea, when the flea and the elephant cross the bridge, the flea says to the elephant, "We shook him, didn't we, big boy?" And here we are, and Prem, Tommy, all of us and the big boy, Mr. Goodwin, the elephant is not here. So the fleas are here and the elephant is not here, so the bridge has been shook.

It's kind of like Buddy Darby used the elephant on the Doonbeg Golf Course, and even though Mr. Norman was over there, it was my crew. (Laughter.)

Well, it's been great to be back here. I've had a lot of fun at the Ocean Course -- of course, the Ryder Cup. It's really great to have the World Cup, because when you talk about the World Cup, I can remember when Ben Hogan and Sam Snead won the World Cup many times, and then followed by Arnold Palmer and Jack Nicklaus, they played in the World Cup and a fellow by the name of Birk Schriber (ph), he was kind of like the elephant, he kept it alive after many years and the PGA TOUR has taken it over.

It's really going to be an international event, especially today when you watch the British Open, and unfortunately you had to go down the line before you find an American that was on the list. I think Scott Hoch was the low professional this year. He did a great job.

So international golf is here. To bring these kind of players back to Charleston and a chance to play The Ocean Course.

There again, the biggest ally that we have out at The Ocean Course is the wind, and the last time they had the World Cup, it was kind of a kind reward.

You know, I would really appreciate it because everybody was saying how hard the golf course was and after Ryder Cup, they couldn't play the 17th hole and so forth. And then the World Cup a couple of years ago, they shot lights-out and it was very easy.

So, really, the guy in charge of the golf course, He's upstairs and He took the manual up there with him, so you have no idea what it's going to be like when they play next year. He won't left you know until the day after.

But it's great to be here. Mr. Goodwin has asked me to come back. And we've done a few things to The Ocean Course, not a lot. We've regrassed it. Everybody wants the new grass, so the greens putt a little harder and a little faster. So we've got new grass for you out there.

Finally, we've got the opportunity to move the 18th green a little closer to the ocean -- I don't know really why, but everybody says you want to see the ocean, so you can stand there and shoot 6 and see the ocean. (Laughter.)

So it would be fun to have you all come back. Really, Charleston is a great town. I know that my friend, Mr. Frasier, has argued for many, many years, the first ball hit in the United States is right here in Charleston. You all have got a great heritage in the game and the support that you have given the game of golf has been wonderful, and I think golf has done just a little bit for the State of South Carolina, too. So here we are, glad you're here and come on back.

JAMES CRAMER: At this point I'd like to make our speakers available for questions.

Q. Mr. Dye, different architects seem to think that to Tiger-proof a course, you just make it longer and longer. Yet Ballesteros, when he shortened Valderrama for the Ryder Cup a few years ago, and then this year at Muirfield, the courses were not that long; it just made them tougher and brought more people into play. Is the way to Tiger-proof a course to make it longer or play it as a reasonable length where more people can play and take the driver out of his hands?

PETE DYE: That's a real simple question. I don't agree with anybody. (Laughter.)

I think the USGA is wrong, the PGA TOUR is wrong, R&A is wrong. I think they are all wrong. Everybody in this room needs help to play golf. It's a hard game. It is a hard, hard game. And so, we need bigger clubs, better golf balls, wider cups, slower greens, higher grass on the fairway so we can get the club underneath it. And yet, these great golf professionals, I don't think they need any help.

I remember my friend, Mr. Beman, tried to get control of professional golf. I'm think that the simple way is to have -- let us have all of the advantages, put them back to wooden shafts and the gutta percha. And then they wouldn't find anything too long or too short.

I think there has to be -- one of these days, they will come and have a different rules as far as the equipment is concerned for the great golf professionals, you know, Tiger Woods and Phil and all of the rest of them, David. None of them need any extra help. If they would go back to about the 1970 golf ball, all of these things that you talked about would be eliminated. Pretty simple.

But don't take anything away from us: Carts, big club heads, whippy shafts, everything. We need all the help they can throw at us, but they don't.

Q. (Inaudible.)

PETE DYE: Really, it does. You always want to see the good players play your golf course. Actually, I really like to see everybody play the golf course. I have, for better or for worse, always tried to build golf courses that I thought a lot of people could play. Everybody once in a while somebody will ask me to build a golf course, and they will say: This will be the most exclusive thing in the world, we're going to have about 100 members and so forth, if we pay you to build a good course for 100 people; and all of a sudden I start towards the door. Because I really love to see people play golf.

Of course, you love to see the about players play it and everybody else and it's fun to have a golf course like The Ocean Course where somebody can go out there and shoot 100 and get around it and then still talk to you and approach you, and at 72 and he doesn't talk to you. It's still fun. It's great to see this kind of a format because the team format with best ball and alternate-shot, it's fun to watch that type of play, and yet, it's still a medal, stroke-play tournament.

Q. Inaudible?

ROSS BERLIN: This is not really a PGA TOUR event, but an International Federation of PGA Tours event which include the Asian PGA, the Japan Tour, the Australasian Tour, the South African Tour the European Tour and the U.S. PGA TOUR.

The lady is referring to a rule change which requires the leading players from a country off the World Golf Rankings to play with one another. In other words, Tiger Woods, who is clearly ranked No. 1 on the official World Ranking, has no choice now. In the past he's had a choice to select his partner of choice. He now has to go off the World Golf Rankings to player No. 2 from the United States.

Similarly, someone like Padraig Harrington, the next player, I believe, I think Darren Clarke would play with Padraig from the new rules and regulations, and he would not have the option to select Paul McGinley, who he may be very, very comfortable with.

So it's a little bit controversial. I agree with your statement that are you forcing a players's hand; yes, you are, but unfortunately or fortunately, this does assure the highest and best field that an EMC World Cup can have.

Q. Pete, do you take exception to criticisms that the Ocean Course was just too hard, or do you now just wear that as a badge of honor?

PETE DYE: It's never been too hard for me. (Laughter.)

You know, the amazing thing about golf, it's the way different people perceive a golf course, a design, or how you play or where you go.

It always reminds me of a statement: They had a bunch of architects down in Palm Beach where they were talking to us and they said to us one after another, and they were asking what they did for the average golfer: What do you do for the average golfer? And they had Tom Fazio and all talked about what they did for the average golf.

And finally the guys looked at me he says, "Mr. Dye, all right, what have you ever done for the average golfer"?

I said, "You know, that terminology kind of worries me. I don't know exactly what you've talking about." I said I know a guy that lives here in Palm Beach right on the ocean and he belongs to the Everglades Club, which is two blocks away. It's a beautiful little golf course, very simple golf course, best shape, best food, everything. It's very expensive, but for some reason or another, every day gets up in wintertime and drives right to the Everglades Club and turns right and goes all the way into West Palm Beach, and he gets on the Highway 1, and it's got cars and trucks and buses and he drives for about 30, 40 minutes. And he goes all the way up and turns into a golf course called Seminole, that has 275 bunkers, and he goes around and plays it. And when he finishes, they said to him Mr. Smith, "What did you shoot today?"

He said, "I didn't have a score." And he drives all the way back, goes right past the Everglades Club, and three minutes later he's home, and he does that all winter long. He never stops at the Everglades Club. He paid $100,000 to join, many thousands of dollars a month to pay dues, but every day he goes right by, goes right back and plays Seminole. And they ask him every day if he has a score and he says no.

So when the weather starts to get really good in Florida, he goes back to Philadelphia, and for some reason, playing the Philadelphia Country Club where he lives right next to it, he goes all the way into Philadelphia, goes across the bridge, goes up to a place called Pine Valley. Plays there all summer long. They ask him what kind of a score he shoots; he didn't have a score.

So when the weather gets really good in Philadelphia, they take that guy, he gets his wife, he goes up to J.F. Kennedy, he goes through the melee of all the people there, buses and trucks and bags, he flies all the way over to Heathrow, gets over there, his clubs are lost and everything else. Finally gets them together and he takes an old plane up to Edinburgh and he plays four or five weeks in Scotland in the rain. Now if you want to call that guy average, it's all right with me. But you'll never hear me call him average, and that's the guy I built the golf course for. (Laughter.)

And there's millions of them ; look at ya out there.

JAMES CRAMER: I'd like to thank everyone for coming today and helping us make this announcement, and we'll see you next fall.

End of FastScripts....

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