Minnesota based Golf Galaxy recently floated an IPO with the intention of using the funds to expand into warm weather states. But the golf business isn’t exactly booming these days, and Wall Street apparently isn’t impressed.

Sponsoring the PGA’s developmental tour apparently has been a boon for Nationwide Insurance. Although neither side is revealing figures, some estimates are that, while Nationwide pays $5 to $6 million a year for title sponsorship, it reaps $30 to $40 million in non-advertising media exposure. 

There’s more at MSNBC on the economics of the relationship between Nationwide and the Tour. Its a fascinating article and well worth a read.

With Ty Votaw retiring at the end of this year, the search is on for a new LPGA commissioner. Should it be a women. I think so, and there are a slew of qualified candidates available.

Callaway Golf announced that its first quarter profits have fallen by half. Company officials said the losses were due to staggered new product launches and reductions in the amount of inventory it shipped to avoid build up in retail stores.

Meanwhile, Fortune Brands, owner of Titleist, Footjoy, and Cobra reported that its net income was up 35%. Fortune also owns Jim Beam, Daytimer, Swingline, Kensington, and other major brands.

Interestingly, Fortune Brands was recently involved in a bid for the purchase of Allied Domecq, whose holdings include Dunkin Donuts and Baskin-Robbins.

USA Today has a good article on marketing golf equipment. It’s a tough world because the game is not growing—and manufacturers are fighting for each others’ slice of the pie.