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Non-Tech : Callaway Golf -- it's a buy -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pettee who wrote (177)	7/22/1998 11:16:00 PM
From: Mark T. Heath	Read Replies (1) \| Respond to of 307

That's funny cause I can't stand the new shallow face clubs; namely Adams and Orlimar. I'll take my original War Bird three wood over those two anyday. Expect ELY to be off sharply tomorrow on the first trade. I'm guessing $12 - $13.

To: Ed Pettee who wrote (177)	7/22/1998 11:26:00 PM
From: Jeff Mills	Respond to of 307

I personally would not touch ELY with a 10-ft pole! Here is a company that has seen its clubs completely cycle out--and worse yet they have nothing in the pipeline to help ease the problems!! If they go and introduce a shallow-face multicomposite trouble wood--how foolish will they look to the consumer after banking on the "bigger is better" slogan?!. ELY built its brand name on that foundation. I think Callaway is in a serious pinch. With no relief in sight until they can introduce some new woods. One poster said that Adams [ADGO] is the problem. I totally disagree. I'll tell you what the problem is. It's Orlimar. Orlimar is completely waxing the entire club market right now (even Adams) and taking names. Not only do retailers like to sell the club, but they can make good $$$$ doing it. And Orlimar is EXTREMELY difficult to get right now out of factory. 4-5 week backorders. Huge demand. Not so anymore with Callaway. Callaway has saturated the market with product, opening up everyone and anyone off course with accounts. It is a cut throat market for retailers (ex. Great Big Bertha, wholsales for $250--retailers struggle to get $320 in tight markets) with Callaway and quite frankly there in no longer any DEMAND from the customer for their product like there was 1/2/3 years ago. I would totally avoid ELY at this time--their press release even said that they dont see any revenue improving into 1999. I wouldnt be surprised to see it open at $15! (I am not short, just giving my opinion from what I am seeing and hearing daily).