Closing the Deal on the Golf Course

There is a lot of talk about the role of golf in business deal making, but how does anyone actually close a deal before the last hole is played?
By Vincent Pane

Most business people who are golfers are familiar with the 1901 golf course deal between Andrew Carnegie and J.P. Morgan at St. Andrew’s Golf Club that led to the formation of U.S. Steel, worth about $13 billion in today’s terms.

To make a long story short, the deal only happened because Carnegie’s wife got her husband and the president of Carnegie Steel Company, Charles M. Schwab, together for a golf game. Schwab planted the idea of selling Carnegie Steel in Carnegie’s ear. The next day, Carnegie set a price that Morgan agreed to, and U.S. Steel was born.

Stunning Amount of Business
Stories like these are inspiring, but do they have any relevance to today’s business place? It is difficult to find real-world stories of golf-business success. That is not surprisi...

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