Burnie E. Sparks

Bailard, Inc. is a SEC-registered investment advisor headquartered in Foster City, California. The firm (formerly Bailard, Biehl and Kaiser prior to its re-naming in 2005) was founded in 1969 by three graduates of the Stanford Graduate School of Business. They are a wholly owned subsidiary of BB&K Holdings, Inc. Bailard provides investment advisory and financial planning services and offers single asset strategies to investors on a standalone basis. The firm manages separate accounts for institutional clients and provides advisory and sub-advisory services to pooled investment vehicles.

Indigo Golf Partners LLC owns and operates golf courses. It specializes in full-service course management as well as assistance in specific segments of the golf business, including course and property maintenance, staffing and training, clubhouse operations, food and beverage, merchandising, golf instruction, marketing and public relations, special events, and financial management. The company was founded by Peter M. Hill, Robert C. Morris and William Earl Casper, Jr. in 1989 and is headquartered in Reston, VA.

National Golf Foundation, Inc. conducts primary research and analyzes existing secondary data. The firms products and services include, such as golf industry databases, exclusive golf demand model and golf business symposium. It offers it services to retailers, practice ranges, companies and golf industry professionals. The company was founded in 1936 by Herb Graffis and Joe Graffis and is headquartered in Jupiter, FL.