Word: callaway
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Dates: during 1990-1999
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...tape transcripts, internal memos and other records show GOPAC quite openly declaring its stake in federal races. "Action alerts," "phonegrams" and other solicitations repeatedly ask contributors for money to help win control of the House. In a letter to textile magnate Roger Milliken, GOPAC chairman Howard ("Bo") Callaway invited the Republican financier to a Washington meeting and vowed, "We will be looking at plans to recruit and support candidates in 210 congressional districts across the country...
...over this cheese; it looks and tastes just like the regular kind): commission-free stock trading. As if all this other great stuff weren't reason enough to plop down your hard-earned bucks for shares of Snapple, up fivefold in the past 10 months, or Callaway Golf, up fourfold, now there are several ways to play the game on the supercheap. Stocks have become expensive, but the cost of buying them has come way down. It's kind of like the free helicopter to the airport Pan Am used to provide when you bought a $4,000 first-class...
Behind the bink is Ely (pronounced E-lee) Callaway, 74, a Georgia-born supersalesman with L.B.J.-style hound-dog ears and aggressive charm. Already wealthy and successful at 54, he left the presidency of Burlington Industries to buy a 150-acre vineyard in Temecula, California. Rather than sit around and watch his grapes grow, Callaway developed top-grade wines and promoted them by traveling and offering low-cost oenophile seminars to hotel and restaurant employees. By 1982 Callaway was selling 73,000 cases annually...
Time for another fantasy retirement. Callaway sold his vineyard at a handsome profit to Hiram Walker & Sons, then bought a tiny golf-club company that made classic hickory-shafted wedges and putters. Under his tutelage, sales soon boomed. That was merely the tee-off. After introducing a popular line of neckless irons, he hit upon the idea of Big Bertha. Callaway replaced an existing graphite club head with a hollow stainless-steel design weighted most heavily around the edges. "Perimeter weighting" gave Bertha a sweet spot like that of an oversize tennis racquet. Since hollow clubs already on the market...
Including some future stockholders. Callaway took his company public in February 1992. The stock market hasn't seen anything quite like it since. He offered 3 million shares at $20 a share. Twenty-seven minutes later, the stock hit a stunning $36 a share. It has since split 2 for 1, and was selling last week at $57. "In a lousy economy, we've been quite an impressive little company," boasts Callaway. Bink...