Callaway Golf ( ELY) is a former fad stock of the 1990s when its Big Bertha driver hit the market and was a favorite of every Wall Streeter on the golf course (and in the analyst room). However, the company's fortunes have been well below par for many years. Golf equipment companies such as Nike's ( NKE), Mizuno, Cobra and TaylorMade have been able to develop equally excellent products in the last 15 years. Tiger Woods, before he got into his personal problems, had a long-term endorsement deal with Nike. While golf is still a very active sport across the world, country clubs have been hit hard ever since the financial crisis took place and are struggling to maintain membership. Callaway Golf's revenues have been flat to lower for years and EPS has been negative since 2009. Even if the company posts the modest 18 cent profit that analysts expect in 2012, I do not think that the company is a worthy investment. -- Written by Scott Rothbort in Millburn, N.J.
As insurgencies proliferate, investors and targets are fishing in the same small pool of candidates. Experienced executives are the ideal recruits -- and companies may have an advantage over activists.