CLUBCORP ACQUIRES STAKE IN CLEAR DIRECTION INC.
DALLAS (February 20, 2001) - ClubCorp, the world leader in delivering golf, private club, and resort experiences, has acquired an ownership stake in Clear Direction Inc., a Dallas-based company that provides personal and professional training and development via the Internet.
Terms of the agreement were not disclosed. Doug Howe, executive vice president for domestic operations for ClubCorp, characterized the investment as a minority position.
The 5-year-old Clear Direction, headed by Dr. Robert K. Smith, currently markets two electronic training and development tools for businesses and individuals. The patent-pending "Profile Report & Development Program" is an Internet-based, electronic training and development tool for businesses and professional services companies. The "Team Directory" provides managers a directory of information customized to each of their direct reports' performance motivators.
"We've been involved with Dr. Bob Smith since 1989," Howe said. "His company's cutting-edge, proprietary training and development programs have provided us with immediate usefulness and significant savings in our 'people strategies.' "
Howe said that more than 1,750 ClubCorp managers and department heads will participate in the Internet-delivered Profile-Development Program by the end of this year.
Dr. Smith, Clear Direction president, noted, "The most common reason employees stay or leave their positions is their relationship with their boss. These training and development programs are designed to increase effective and productive communications between employees and their bosses, personalize training and development for employees and provide management with ongoing training, feedback and development tools."
Dr. Smith added that, by later this year, Clear Direction will offer its training and development programs to members of ClubCorp's private clubs via their club Web sites. He said that other new products are in development, such as new employee development programs that will be introduced in late-2001.
Dr. Smith said his programs are unique because they are "thinking based, not behavior or personality based." This means that the training exercises are prescribed in light of the sources of the behaviors, not the behaviors themselves.
"This is similar to a doctor prescribing a medicine based on the analysis of the bacteria found from a throat culture, not based on fact that the person has a sore throat," he said. "These programs also take advantage of the practical benefits of the Internet and thereby provide 'customized training at off-the-rack prices,' " he said.
Founded in 1957, Dallas-based ClubCorp has $1.6 billion in assets. It owns or operates more than 230 golf courses, country clubs, private business clubs and sports clubs and golf resorts around the world, and has more than 23,000 employees and 500,000 members.
Among the company's nationally recognized golf properties in the United States are Pinehurst in the Village of Pinehurst, N.C., (the site of the 1999 and 2005 U.S. Opens); Firestone Country Club in Akron, Ohio, (site of World Golf Championships NEC Invitational); Indian Wells Country Club in Indian Wells, Calif., (site of the Bob Hope Chrysler Classic); The Homestead in Hot Springs, Va., (founded in 1766 and America's first resort); and Mission Hills Country Club in Rancho Mirage, Calif., (home of the Nabisco Championship).
For more information, visit www.cleardirection.com. For more information about ClubCorp, visit www.clubcorp.com.