Callaway Golf -- it's a buy Message Board

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Non-Tech : Callaway Golf -- it's a buy

ELY 21.33

-2.8%

Sep 6 5:00 PM EST

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To: BAXTERBOO who wrote (232)	2/12/1999 4:53:00 PM
From: Jeff Mills	Read Replies (1) of 307

If you have ELY stock I suggest you bail. Why? 1. Callaway is about to do a $30 Million inventory writeoff against shareholders. They thought about reducing the price to vendors, but instead appear to have elected to destroy $30 Million in inventory and write it off. 2. Edwin Watts is sitting on a TON of Callaway Great Big Bertha and Biggest. Their inventory is ENORMOUS. Watts asked ELY to buy back some of the inventory and ELY said no. Watts will now be selling GBB's and Biggest's at ~ $9 above wholesale to glut inventory. This will cause each and every other Callaway account in the USA to drop ELY support/product like a bad habit. No one can compete selling woods at $9 above cost. New orders will dry up. So will ELY stock. Bad news coming.

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