Jimmy Dunne on Callaway Live [Sponsor Content]

Callaway Live with Jimmy Dunne had it all: intensity, drama, comedy... everything. Hear his riveting stories about how 9/11 nearly destroyed his business and how golf saved his life.

Sponsored by Callaway

Released on 5/9/2016

Credits

Starring: Harry Arnett

Transcript

00:01
Hey, Harry
00:02
What are you doing?
00:03
Oh, hey John.
00:04
Well, you know Jimmy Dunne is on the show tonight,
00:06
and he's the Senior Managing Principal of Sandler O'Neill,
00:09
and he's one of the most
00:10
well-respected people on Wall Street,
00:12
so I'm brushing up on my corporate finance here,
00:14
reading an old textbook.
00:16
Listen, Harry, all you really need to know
00:17
is that it comes down to the time, value, and money.
00:19
That means, simply, that a dollar today
00:21
is worth more than a dollar tomorrow.
00:23
And, with that, you can determine a company's value
00:25
using lots of sophisticated techniques.
00:27
But, the one I always go back to is the simplest:
00:29
the Discounted Cash Flow Analysis.
00:32
Hey, can I borrow this?
00:32
Let me show you what I mean.
00:35
(marker squeaking on whiteboard)
00:41
I mean, you have to make some assumptions
00:42
about profitability and growth, of course,
00:44
but, that's where the art meets the science, really.
00:46
Also, where the rubber hits the road.
00:48
It's also where I get frustrated
00:49
with all these new businesses
00:51
that generate no cash or earnings at all.
00:53
And people value them with B.S. metrics,
00:55
like total users and such.
00:56
Wow Johnny, I had no idea you knew so much
00:59
about how I finance.
01:00
Yeah, I dabble a little in the stock market.
01:02
If you want, I'll explain how derivatives work over lunch.
01:05
Oh, that'd be great.
01:07
Hey, can I borrow 10 bucks?
01:08
It's Taco Tuesday.
01:09
You don't even have 10 dollars, Mister High-Finance?
01:13
I got caught in a huge short position in a tech stock.
01:15
Hey, don't you have a show to do?
01:17
Oh, live show, no script, what could possibly go wrong?
01:24
(upbeat electronic music)
01:34
(audience applauds)
01:37
Alright, hey, hey everybody!
01:39
Whoa, I almost tripped there, did you see that?
01:42
Who put that there?
01:45
Somebody put a booby trap there.
01:46
Good to see everyone, how are ya?
01:49
Good to see you, what a crowd!
01:51
Look at this crowd.
01:53
This is a season two crowd.
01:55
This is season 2 of Callaway Live.
01:57
This is a Jimmy Dunne crowd, is what this is.
01:58
Am I right, you guys are here for Jimmy Dunne?
02:00
(audience applauds)
02:01
I can't wait for Jimmy to come on the show.
02:04
If you're like me, you're also getting the clubs out;
02:08
you're getting ready for the golf season.
02:09
Am I right?
02:10
You guys getting ready to play?
02:11
I know we're here is Southern California,
02:12
so we kind of play year-round,
02:13
but most everybody at home are getting ready.
02:15
I always go through the same four things every year
02:19
when I'm getting ready,
02:22
to get ready for the golf season.
02:23
Number one, and I'm sure you guys are like me,
02:26
I practice in the mirror saying:
02:27
No honey, I've had these,
02:28
whenever my wife asks me if I have new clubs.
02:30
(audience laughs)
02:31
Like you.
02:32
I also work on my Verne Lundquist imitation.
02:34
Nate, are you like me?
02:36
Maybe.
02:37
Ready?
02:38
Yes, sir!
02:40
I do that, actually, when I play golf.
02:42
I don't get a lot of return invitations.
02:46
I also box up all of my big golf shirts,
02:48
now that I've lost a little bit of weight;
02:50
and then, I immediately unbox them,
02:52
knowing I'm gonna need them in a few months.
02:54
(audience laughs)
02:55
And then, the last thing I do before every golf season
02:57
is I write down and I submit
02:59
all of my Grow the Game Initiatives to Hack Golf.
03:02
(audience laughs ambivalently
03:04
What?
03:05
That's not funny anymore?
03:07
Alright, we'll clean that up in post-production.
03:10
We got a great show for you guys today.
03:12
Don't go anywhere,
03:13
Jimmy Dunne will be right here, on this set,
03:16
when we come right back.
03:17
Don't go anywhere.
03:19
(audience applauds)
03:23
There he is, Jimmy Dunne.
03:41
Hey, Chad, you're the Head of Social Media, right?
03:43
I have this great new product that I wanna tell you about,
03:45
do you have a minute?
03:47
Social Media?
03:48
No, no that's not me. No?
03:50
That's actually gonna be Johnny.
03:52
Oh, You see that guy in the jacket right there?
03:54
Oh, yeah, okay.
03:56
So, is this your first show?
03:58
Hey, you should meet us at the Hyatt later for drinks.
04:00
So, did you fly direct,
04:01
or do you have a connection somewhere, or
04:06
I mean this booth,
04:07
this booth is unbelievable,
04:08
I can't believe, how did you top last year?
04:10
And the tank two years ago? Crazy.
04:12
Man, it's crazy.
04:13
But, the PGA Show, it's my favorite week of the year.
04:15
It's like, everybody's here,
04:16
the whole thing, Hey, Pallato.
04:18
Hey, do you know,
04:20
Charlie, nice to meet you. Chris, howdy.
04:21
How amazing is all this?
04:22
This is, like, the greatest thing of all time.
04:24
I mean, the PGA show, I love it,
04:26
it's easily my favorite week of the year.
04:28
Love what you guys are doing, man.
04:30
Hey, Chad, it's so good to see you.
04:32
Hey there, Tony, how's it going, man?
04:36
How's Callaway Golf going for you?
04:38
Yeah, going good?
04:39
Everything's good?
04:41
You wanna do dinner, or do you wanna go out somewhere,
04:43
or hang out?
04:44
Tommy, what's up, man?
04:46
When'd you get in?
04:47
You wanna go to the Pit later?
04:48
Everything good?
04:49
Wife good, kids good, house good?
04:52
Dogs good?
04:53
So, where you staying, you staying here?
04:56
Oh, man, you guy's got any freebies?
04:59
Look's like you have a lot of momentum right now.
05:01
Just keep going, man, keep doing what you're doing.
05:04
It's awesome.
05:05
Thanks a lot for your time,
05:06
I'm really excited to show you
05:08
this new product that we have.
05:10
Basically, imagine an app, Right, yeah.
05:15
that swings the golf club for you.
05:29
(audience applauds)
05:30
Alright, welcome back to Callaway Live, I'm Harry Arnett.
05:34
And, you know what this show really is all about is,
05:37
it's a chance for me to meet people
05:40
that are sort of my heroes,
05:41
and people that I've admired for a long time.
05:44
Whether they're athletes, whether they're entertainers,
05:46
obviously media.
05:47
And, then, last season, we had a bunch of people
05:50
that were really important business leaders,
05:53
and thought leaders in their businesses.
05:55
Tonight is one of those moments for me,
05:58
which is a moment that I've really looked forward to,
06:01
and meeting an talking to somebody
06:03
that has meant a lot to our game.
06:04
He's the Senior Managing Principal of Sandler O'Neill,
06:09
an investment bank in New York City,
06:13
and he's deeply connected in the game of golf.
06:15
Please welcome to the set Jimmy Dunne.
06:18
(audience applauds)
06:20
Jimmy Dunne Hey.
06:22
How are you?
06:22
It's good to see you. I'm great.
06:23
How are you?
06:24
Have a seat. Thank you.
06:25
Thank you very much.
06:28
Oh, you have a Tony Award there.
06:29
There you go. Look at that.
06:30
We'll throw that away.
06:32
Thank you for showing up.
06:33
Jimmy Dunne crowd, right here
06:35
That's good, that's good, I'm surprised, everybody.
06:37
It's very nice of you to come.
06:39
I believe this is all because
06:40
you got a little bit of T.V. time
06:42
from the AT&T Pro-Am, with
06:43
How about that?
06:45
Playing with those great Callaway players,
06:46
Reed and Mickelson, Love those guys.
06:49
I've played with Patrick the last couple years,
06:51
and, obviously, playing with Phil is always fun.
06:53
We didn't do too bad.
06:54
Yeah, you guys were good.
06:55
I saw a bunch of,
06:56
I saw you on six, and then I saw you again on 11,
06:59
and it seemed like everywhere I looked you were at,
07:00
I thought that they were doing us a favor
07:02
because they knew you were gonna be on the show.
07:02
(Laughs) I think that was the whole point.
07:07
For a lot of people who know you now,
07:10
I bet when you were growing up,
07:12
within the game, and then in your business career,
07:14
you probably would have been way okay
07:16
with nobody knowing your name, I bet, up until a point.
07:20
Well, I still am, actually, but,
07:26
obviously 911, that changed the dynamic of a lot of things.
07:31
And, then, on the other side,
07:33
I've had a lot of very good things happen to me, too;
07:36
so it's a combination of the two.
07:38
But, we're still, we're a private company,
07:41
we're still very comfortable with
07:43
Under the radar.
07:44
Nobody knowing what we're doing.
07:45
We don't wanna declare things
07:46
like revenues and profitability.
07:48
No, we really don't.
07:50
I was doing some research for the show,
07:53
and I was reviewing a lot of video that happened,
07:58
kind of post-911, a lot of people,
07:59
is how I first started hearing about you,
08:01
not only from your career in the investment community,
08:06
but also plugged into the game of golf.
08:09
That day started out just like any other day, probably,
08:11
for you, didn't it?
08:12
Well, yeah, it was, it's sort of an interesting,
08:15
it's a sad, obviously the whole thing is sad, but
08:18
the thing is how intertwined it was with golf.
08:23
Our firm has a lot of golfers in it,
08:25
always did, always will.
08:26
Although, Herman Sandler was not a golfer,
08:27
but loved the game.
08:29
Chris Quackenbush, which was the guy I grew up with,
08:30
was my best friend.
08:32
We were tuition-paying paynt-ners together,
08:34
we played golf caddy together.
08:37
He was also my lawyer,
08:40
for when my earlier,
08:41
sort of, my misspent youth,
08:44
and then on more corporate matters.
08:46
But, what was so interesting is that,
08:48
before, I had had a bet
08:50
about qualifying for the Mid Amateur,
08:52
and so I'd worked very hard.
08:55
And, he just happened to walk into my office,
08:56
picked up the USGA application, and said
09:00
You're playing really well, where you gonna go?
09:03
I said, Well, I'll probably go to Round Hill
09:04
on Monday the 10th.,
09:06
because then if you play bad, it's bad,
09:09
but you don't then lose Monday and Tuesday,
09:12
as far as work days.
09:14
And so he said, Well, on the 11th it's at Bedford.
09:17
I said, Yeah., and he said,
09:18
You could get it under par at Bedford.
09:20
I said, Yeah, well, maybe.
09:21
He said, You should go to Bedford on the 11th.
09:24
And I said, I don't even know why,
09:27
I said, Okay, yeah.
09:29
So, I picked it up, I checked it off,
09:31
and I said, Debbie, send this to the USGA, please.
09:35
Debbie died and Chris died.
09:38
And, I went to Bedford on the 11th, which was,
09:43
I've asked his advice on everything in my whole life.
09:46
I was a better golfer than he was.
09:48
He was a good golfer.
09:49
But, it would be, like,
09:50
the one thing I would never really ask him,
09:52
let alone where to qualify.
09:55
And, that always, sort of,
09:57
but, that made a difference, because, obviously,
09:59
I woke up that day, it was a cool day,
10:01
I remember, because it was delayed.
10:02
It was a beautiful day.
10:04
And, I can remember,
10:05
the guy came out at about the sixth hole,
10:07
and said, there's a problem.
10:09
And so, I was out trying to qualify for the Mid Amateur,
10:11
otherwise I'd be dead.
10:13
Yeah.
10:14
Literally, almost all the colleagues that you had,
10:19
obviously, everyone that was in the tower that morning.
10:24
Yeah, all but 17, that were in the office, died that day;
10:27
and 40 percent of the firm perished that day.
10:30
So, we were on the 104th floor of the World Trade Center,
10:33
so, the second plane came into the 77th floor
10:37
going 675 miles an hour,
10:40
so 99.9 percent of anybody above the floor died,
10:43
and 99.1 percent of, oddly enough,
10:45
everybody below the floor, survived.
10:47
But, we were well above.
10:50
So, some of the people had gotten out,
10:52
17 had gotten out, prior to,
10:55
after the first plane, and prior to the second plane.
10:58
And, several of those are still with us today.
11:00
And, how, from that moment forward,
11:03
at what point did you decide,
11:06
we're gonna rebuild this firm?
11:08
Did it happen instantly?
11:09
Did you take some time to think?
11:10
Well, as I said, I was on about the sixth hole,
11:14
and a guy came out, a USGA guy in a full jacket and tie,
11:19
and the other, you know, so many different things,
11:22
but, that Monday afternoon, I'm terrible at directions,
11:25
I'm the world's worst driver,
11:27
I don't know where I'm going, I hate being lost, alright?
11:29
And, I was in the office with Herman Sandler,
11:31
who is not a golfer, a brilliant guy,
11:33
and Chris Quackenbush who was a golfer,
11:35
and we were just talking.
11:36
It was about 11, noon, maybe one o'clock on the 10th,
11:41
and Herman said, Get out of here,
11:43
and Quag said, Yeah, but you won't even find the place
11:46
until tomorrow morning, you better leave now.
11:49
(Harry laughs)
11:49
And, I said, No, no, I'm going today.
11:51
And, so, Herman Sandler, like, he grabbed my arm,
11:53
and he said, Look, get out of here.
11:55
Whatever you do, don't call in the morning.
11:57
Chris will be here, I'll be here,
12:00
everything is gonna be fine.
12:03
Shoot a good score and get in, whatever this is.,
12:07
which was the Mid Amateur,
12:08
which was supposed to be at San Wakeen in Fresno,
12:11
and I had a bet with this guy from Oakmont,
12:13
that the winner got to stay at Sam Reeves' house.
12:16
(Harry laughs)
12:17
And, that's why I worked all that long way.
12:19
So, anyway, I drove up there,
12:20
I did get lost going up there, but eventually,
12:23
there was a storm, and I couldn't hit any balls or anything,
12:25
and I stayed, and there was
12:26
a lonely feeling in that hotel room,
12:27
and I'm thinking, I hope this was all worth it.
12:30
And, then I went to the golf course,
12:32
and I actually got off to a very good start
12:33
through six holes,
12:34
and then he came out and said, look, you know,
12:37
and I remember looking right at him,
12:38
and I said, My children and family, my wife.,
12:41
they said, You're fine,
12:42
they have nothing to do with this.
12:44
You have to call your office.
12:46
And he kind of went back and forth about calling the office,
12:48
I said,Just tell me., and he wouldn't,
12:51
and so, I actually hit a shot, hit a tee shot,
12:53
and I played with the guy, oddly enough,
12:55
I was qualifying with,
12:56
he won the Mid Amateur in the following year.
12:59
I think its Austin Eden, or whatever his name is.
13:00
Anyway, so after I hit that shot I said,
13:03
Forget it, let's go in,
13:04
so I went in,
13:08
and there was all this commotion,
13:11
and, I called,
13:12
I couldn't get through to my office, obviously.
13:14
And, I called my home, and Meryl Witmer was with my wife
13:18
and said that, you know,
13:19
a plane hit the World Trade Center,
13:21
and you better get yourself ready, that,
13:24
almost everybody in your firm is dead.
13:27
And I said A plane, what are you talking about, a plane?
13:29
Like a Piper Cub, I mean, what do you mean, a plane?
13:32
No plane's gonna hit the World Trade Center.
13:35
And then she said, No, this is a real plane, like a 747.
13:39
And, I said, Well, Chris was there., she said, Yes.
13:42
I said, Herman was there., she said, Yes.
13:44
I said, Bruce Simmons was there., she said, Yes.
13:47
You know, Jimmy Conner was there, she said, Yes.
13:48
She seemed to know this,
13:49
and I remember just, like, an athlete,
13:52
you're on a streak, you wanna stop it, I said, Alright.
13:55
And, I was down in the bag room,
13:57
at the Bedford club,
13:58
and then it started to come to me.
14:02
And so, at that point, I was still trying to figure it out,
14:05
it hadn't really dawned on me that it was terrorism.
14:07
We didn't have any terrorism yet,
14:08
that was the first real act within the country.
14:12
And then, this guy got on and took me to,
14:15
this partner of mine that lived in Bedford,
14:17
I went over to his house,
14:19
and, I think it was, Ashton Carter was on T.V.,
14:23
and he started to talk about this guy, Osama Bin Laden.
14:26
And the terrorists, they wanna kill
14:28
as many people as they can,
14:29
but the real thing that they're trying to do,
14:32
is have an exponential effect, to scare everyone.
14:36
And so, if you did survive,
14:40
they'd wanna intimidate you, so it would affect you.
14:43
And I remember that, like it was right off the bat.
14:45
And I remember thinking, well,
14:47
think about it, whatever Osama Bin Laden,
14:50
whatever he would like us to do, we'll do the opposite.
14:54
So he'd like us to run, we're not gonna run;
14:56
we'll rebuild the firm, we'll do what we have to do.
14:59
And, then, we had
15:00
270 million Americans helping us after that,
15:04
as well as people all over the world.
15:08
So, we then went to work,
15:09
first we tried to find out,
15:12
people that survived, or not survived.
15:17
Later that day, there was a fellow that had caddied for,
15:21
caddied for Barry Van Gerbig,
15:22
was the president of Seminole,
15:24
and he asked me to hire him as an intern,
15:27
because somebody had faded on this internship.
15:29
His dad was the Assistant Caddie Master
15:31
at the National Golf Leagues
15:35
So, I had hired this kid,
15:37
he came and he said
15:40
that he went to Boston College,
15:43
and he said, Mister Dunne, I know you went to Notre Dame,
15:47
does being from Boston College,
15:48
will that affect me negatively here at Sandler O'Neill?
15:52
I said, Son, let me tell you something,
15:53
if you had the choice to go to Notre Dame,
15:55
and you went to Boston College,
15:56
that will haunt you your whole life.
15:58
So, it's well beyond Notre Dame.
15:59
But, anyway, he was a world-class kid, this kid,
16:03
and smart as hell, and really good,
16:05
and he was a golfer like we all were,
16:08
and his dad was the Caddie Master.
16:09
So, anyway, he was there that day,
16:11
and so, his dad and I were going back and forth,
16:14
and I'll just never forget it;
16:16
and so, as I was going out to get to the train,
16:19
to get back to New York City,
16:21
he had called me and said they found Kevin.
16:27
And, it was just the most sensational feeling
16:31
I've ever had in my life, bar none,
16:33
because, like, if they found Kevin,
16:35
they could find everybody.
16:39
So I ran to the car,
16:40
and then this guy's wife came out and said,
16:41
Jimmy, you gotta take,
16:43
so I ran back in, and it was Mike,
16:46
and he said, Jimmy, they found Kevin,
16:50
it just wasn't our Kevin.,
16:52
and I remember thinking:
16:54
God, what a man;
16:58
there are other ways you could have reacted to that.
17:00
But, it was at that moment,
17:03
I went from this feeling that, you know,
17:06
hey, why am I so pessimistic, maybe everybody got out,
17:09
to They found Kevin, just not our Kevin;
17:12
that was when I said, they would have, they're gone.
17:19
And we gotta be authentic, we gotta be real,
17:22
we gotta tell people the truth,
17:23
but we gotta be prepared for what we gotta do.
17:25
And you had to be there for all of the families,
17:28
all of the employees, from that point going forward.
17:31
Was that, sort of, in your nature, up to that point?
17:33
Well, you know, we all did. Yeah.
17:35
We all did.
17:38
It was a collective.
17:40
Everybody was willing to help you.
17:46
And, I think this relates a little bit to golf,
17:51
because, as I said, I started,
17:54
I was 11 years old, saying I was 14,
17:56
in this caddie yard at Southward Ho.
17:59
And, it was apparent to me that
18:01
if you didn't play Gin Rummy, or play golf, you were done.
18:06
That was it.
18:08
So, I watched the guys play Gin Rummy,
18:09
and I was always good at math,
18:11
so I became pretty proficient at that.
18:14
And, then, with the golf.
18:15
And so then, there were
18:18
a lot of different kinds of people in that caddie yard.
18:21
But, they had status in that caddie yard.
18:24
And so, I became, this guy, Leroy,
18:29
he always had me as his partner in Gin,
18:31
and his partner in golf.
18:33
And Leroy didn't,
18:34
I wasn't there for my personality;
18:37
he knew I could play better cards,
18:38
and I was, like, 13 at the time.
18:41
And so, he had said, the kid,
18:43
the kid is under pressure.
18:46
And so it kind of became ingrained on me,
18:48
that whether I was or not,
18:50
I perceived myself as being very good under pressure.
18:53
And, I think, to some degree, I am.
18:57
So, when this happened, I remember thinking,
19:01
everybody that ever extended themselves for me,
19:03
at any point,
19:05
it's my turn now, to demonstrate that they were not wrong
19:08
in their judgement of supporting me.
19:11
So, whether it was Leroy Brown or Bill Sole,
19:14
or my father, or my mother, or my sister,
19:18
or Joe Mylan, who I used to caddie for,
19:20
go down on the list.
19:21
Whoever stook up for me,
19:24
because I'm not easy, you know?
19:25
I will tell you what I think,
19:28
I deliver the news with no Novocaine.
19:32
So, consequently, there's always tension.
19:38
But, I honestly believe that,
19:41
I didn't know how it would work out,
19:45
but I knew we were gonna die trying,
19:47
and I knew we would try to make,
19:51
always try to make the right decisions.
19:53
And so, that,
19:54
and with everybody else in the world helping us,
19:57
that's how it all started coming back.
20:00
That was so touching, to just,
20:02
recently go back through that,
20:04
and see how the community, the golf community,
20:07
the investment community, your peers,
20:09
your competitors, Oh, yeah.
20:10
Rallied around helping you
20:12
and your colleagues rebuild your firm.
20:14
And, no, competitors that I remember, like, through golf.
20:18
I mean, I knew Jack Welch, but I didn't know Jack Welch.
20:22
GE owned CNBC.
20:25
CNBC had got on there, and they made a report
20:28
that Sandler O'Neill was going out of business,
20:30
which was the last thing in the world
20:32
that we needed at that time.
20:33
I didn't even see it, I was in a room.
20:35
Ken Langone, another guy I met through golf, called me.
20:38
He said, I saw the thing, I'm gonna take care of it.
20:40
I didn't even know what he was talking about.
20:42
I came to me that they said this.
20:44
Later Jack Welch called me and said,
20:45
Jimmy, I want you to give me something to do.
20:47
I said, Well, Jack, you know,
20:50
this guy, Kevin Costello, said we're going out of business;
20:53
that's like the last thing in the world we need.
20:55
And, he said, Just stay right where you are.
20:57
Two minutes later, Kevin Costello, he called me;
21:02
I'm sure Jack was really nice to him when, (laughs)
21:05
and he's just, you know, and he said look,
21:08
we wanna put you on the air,
21:09
I said, Look, I don't go on air.
21:13
In our partnership agreement, Herman Sandler said,
21:15
I can make any commitment for the firm;
21:17
but, if I spoke to the press,
21:19
I lost a half a percentage point of my partnership
21:21
for every syllable.
21:22
(crowd laughs)
21:23
And, that's actually in the partnership agreement.
21:26
But, he didn't want me in front of the camera,
21:29
which, I don't blame him, he was a smart guy.
21:32
So, that was abhorrent to me, but,
21:34
and then is fellow, Costello, came down to the firm
21:38
and said, Listen, I'm really sorry, I wanna do something.,
21:40
and he meant it genuinely, I mean,
21:41
I'm sure Jack lit him up.
21:46
And so, he said, You have to go on.,
21:48
and I did go on.
21:49
And, that had a rallying cry amongst our families,
21:53
and so, the momentum sort of started.
21:56
And we had a lot of people helping us.
21:59
But, this thing was interconnected with golf
22:02
the whole way though,
22:03
our lives are interconnected with golf.
22:05
Yeah, they sure are.
22:06
Stay right there,
22:06
we're gonna be back with more Jimmy Dunne,
22:08
right after this.
22:11
That's great.
22:11
(audience applauds)
22:21
I want to beat all my friends,
22:23
and the rest of the people in the world,
22:24
when I'm 90 years old.
22:25
You wanna be the old guy going,
22:27
500 dollars, Yes, yeah.
22:29
You're never gonna beat me.
22:30
Golf is the only sport
22:32
where you're not even eligible
22:33
to play professionally on a certain level
22:36
until you're 50 years old.
22:37
Yeah. (audience laughs)
22:38
Okay, and, that gives a guy like me hope.
22:40
Most guys, if you're 35 years old,
22:41
you're not playing a professional sport ever again.
22:43
I can get on the tour when I'm 50,
22:46
and not a day before that age.
22:48
Think about it. I love that.
22:49
That's a good goal, too,
22:51
you got a little bit of time ahead of you.
22:52
Hashtag seniortour.
22:54
(crowd laughs)
22:57
(upbeat electronic music)
23:00
Alright, we're back.
23:02
Callaway Live.
23:02
This is Jimmy Dunne.
23:06
I love what you were saying before the break
23:09
about how much you learned
23:12
growing up into the game of golf
23:14
as a caddie, and then as a competitive player.
23:16
Sure.
23:17
I think I read somewhere that someone said about you,
23:19
that he's not a weekend golfer,
23:22
he's a tournament golfer. Oh. (chuckles)
23:24
That when the bell rang,
23:25
you were ready to go, and are ready to go,
23:28
and that you're still playing a lot of competitive golf.
23:30
Yeah, I'm trying, you know.
23:32
I was here, I was thrilled to go over to your center today.
23:35
And, I told the guys before we started,
23:39
I said look boys, I really appreciate this,
23:40
but I got this driver, I'm not changing.
23:42
They kind of took it as a challenge, and,
23:44
man, by the end of the day
23:45
I was hitting these high hooks,
23:47
which I could never hit.
23:49
So, I'm trying to find more equipment,
23:50
I love the, you know,
23:51
Phil's got me using those wedges,
23:53
they really help my short game a lot.
23:56
So, I'm trying to get better, you know?
23:58
I do enjoy tournament golf,
24:00
granted it's not U.S. Amateur or anything like that,
24:03
it's whatever I can play in with a pencil on me,
24:06
and I enjoy it and I'm trying to get better,
24:09
and I think this equipment I got today is gonna help me.
24:11
Well, that's a goal.
24:13
I told you, when you came here,
24:14
we're gonna find some yards for you,
24:17
and we though you were the ultimate test
24:19
because of what you said,
24:20
that if it wasn't gonna be good enough,
24:21
it wasn't gonna go in your bag.
24:23
So we knew that was gonna be the challenge.
24:24
Well, I gotta take my 14 friends out there.
24:27
(Jimmy and Harry laugh)
24:30
I'm not that good,
24:31
I need every possible advantage I can have,
24:34
so I'm real excited about this driver
24:37
and the free would be irons.
24:38
I knew the wedges were good,
24:40
I've already had them, but
24:41
I've played with Reed, the last couple times,
24:44
in the last three AT&T's,
24:47
and so he's like, you've got the wrong equipment,
24:50
you gotta try this.
24:52
So, when I came down, you know, I think he's right.
24:56
He knows a lot about equipment,
24:58
and he's a tough competitor.
25:00
I wish he'd speak his mind a little more.
25:02
(crowd laughs)
25:03
I get on great with him.
25:05
I'll tell you one thing, he's a heck of a partner.
25:06
Yeah. I like him as a partner.
25:08
He's a guy that grinds it out
25:10
until the ball's in the hole, isn't he?
25:13
He is,
25:15
and what I liked about it is he got on me.
25:18
I hit a tee shot once, I laid up,
25:20
and he'd come over and say, What are you doing?
25:21
Are you playing for second or third here?
25:23
We're trying to win this thing.
25:24
He said, You're no aggressive enough.
25:26
I said, Hey, Patrick,
25:28
let me tell you something, alright?
25:30
I've been on the planet for 58 years.
25:33
That's the first time anybody's ever said to me
25:35
that I'm not aggressive enough.
25:37
But, he didn't back down, he said, You're not.
25:41
Anyway, all the Callaway guys are good guys.
25:45
You're around big personalities,
25:46
I mean, you're president of big clubs
25:48
with a lot of type-A's in there.
25:50
I mean, you know how to kind of
25:52
keep everything on an even keel, right Jimmy?
25:55
Well, yeah, you know,
25:58
I always liked that line,
25:59
when they asked Willie Davis about Vince Lombardi.
26:04
This was in the 60's.
26:06
Willie, does coach Lombardi treat the black players
26:10
different from the white players.
26:11
He says, no, he treats us all like dogs.
26:13
(Jimmy and Harry laugh)
26:17
And I think that if you are
26:19
at a club with a lot of type-A's,
26:22
there needs to be an alpha dog,
26:24
and that's just the way it needs to be.
26:27
I think some of the best clubs,
26:29
and maybe I'm prejudiced,
26:30
but some of the best clubs are run by one guy.
26:33
Certainly Augusta.
26:34
Yeah, I'm glad that you haven't lost that edge,
26:37
because ever since we, sort of,
26:41
you committed to being on the show,
26:43
I don't know if you've met this guy,
26:44
but our A.J. Voelpel, who is from New York,
26:47
he's one of our only New Yorkers here,
26:49
fashions himself as quite the deal-maker.
26:51
Oh, great.
26:52
And so, Another one? (laughs)
26:52
Yeah, so he said, When Jimmy gets here,
26:55
I'd love to pitch some finance ideas,
26:58
some mergers and acquisitions to him.
27:00
Problem is, he knows nothing about finance.
27:02
(audience laughs)
27:03
But, he thinks that he's a deal-maker,
27:05
and he knows a lot about golf.
27:07
So, he was hoping he could pitch some ideas to you,
27:10
and just see what you think.
27:11
Let 'em rip.
27:11
They call me the Roadrunner of Rutherford Road
27:14
for a reason.
27:15
Because, nobody can make a deal quicker than me, okay?
27:19
So here we go.
27:19
[Harry] Is that like the Wolf of Wall Street?
27:20
It is.
27:23
That would be and awful movie.
27:25
He looks a little like Leonardo.
27:26
He does.
27:28
Listen, let's get to business, alright?
27:30
Time is money, time is money.
27:32
16th hole at TPC Scottsdale,
27:35
we need to buy every 16th hole of every golf course
27:38
on the PGA tour,
27:40
and turn it into the Waste Management 16th Hole.
27:43
What do you think?
27:44
[Harry] Would that be an acquisition?
27:46
[Jimmy] Yeah.
27:47
[A.J.] Yes, of course it will be an acquisition.
27:48
Leave Augusta out of it.
27:50
[A.J.] Leave Augusta out of it?
27:51
I think Augusta is doing fine without your help.
27:54
(crowd laughs)
27:55
But, I like the atmosphere,
27:57
I think it would be kind of fun,
27:59
Ex Augusta or ex The US Open,
28:00
but everywhere else, you can go ahead and do it.
28:02
Alright, well, listen, I haven't had a bad idea yet,
28:03
so keep that in mind.
28:05
Alright, acquisition number two
28:07
[Harry] Is that another acquisition?
28:08
You are going to love this one.
28:10
Acquisition, Pro Tracer, put in in every
28:13
chrome soft golf ball that we make,
28:15
no more lost golf balls.
28:16
It's a no-brainer. No, no, no.
28:18
It's a no-brainer!
28:19
Listen, I've had my shots on video today,
28:22
nobody under 18 should be able to witness that.
28:24
(audience laughs)
28:25
That'll hurt your sales, you don't wanna do that.
28:27
Leave it to the pros.
28:28
You should put some costs on this stuff
28:30
when you're doing, like,
28:31
so that would be like, what, like
28:32
38,000 dollars per golf ball to put it in there?
28:35
We'll work on that. A little less
28:36
[Jimmy] And it would reduce sales.
28:38
So, what's you next idea?
28:40
Alright, if you guys don't like printing money, then.
28:43
Acquisition number three, shot clock, 24 second,
28:47
we by it from the NBA, we use it on tour;
28:51
24 second to hit your shot,
28:52
or a two stroke penalty.
28:53
Oh I love that. You like that one?
28:58
And we'll institute,
28:59
we'll start it in Seminole right off the bat.
29:01
(crowd laughs)
29:02
I'm all for that.
29:04
I mean, we take the golf game,
29:06
it's crazy how long it takes.
29:07
I think they even mentioned that, on the AT&T,
29:08
when you were on one of the holes,
29:10
they said, Oh, there's Jimmy Dunne.
29:12
He's not taking much time on this putt.
29:13
No, I don't take much time.
29:14
You know, Jimmy Demaret said,
29:15
if you're gonna miss it, miss it quick.
29:17
(crowd laughs)
29:19
Alright, last one.
29:20
[Harry] Last one.
29:21
Merger.
29:22
This is a merger. We're gonna merge.
29:23
The tax code and the rules of golf.
29:26
[Harry] The tax code and the rules of golf.
29:27
We're going to make it into a children's book.
29:30
So everybody can understand it.
29:32
[Harry] I like that.
29:34
Good luck with that. What do you think?
29:34
What could be more complicated?
29:35
What do you think?
29:36
I like that idea.
29:37
There's not enough trees
29:39
to print that on everyday.
29:40
Listen, I know a couple of IRS people,
29:42
I'll put in a good word.
29:43
Just don't use my name, okay, with them, alright?
29:46
There may be a little hostility there
29:48
I like that: Election season, people could
29:49
run on a platform and make it a little simpler.
29:51
You could tell them all to talk all about it.
29:54
They love talking anyways, so who cares.
29:55
Are you a rules guy?
29:56
I'm terrible. Yeah?
29:58
I mean, I'm always amazed at the little I actually know
30:01
for how much golf I've actually played.
30:03
When they get into the decisions, I mean,
30:06
I'm pretty good on the major fundamentals,
30:08
but, boy, when it gets like,
30:09
ball hit, A hits ball B,
30:12
I'm like, get me an official over here.
30:13
What do you think, A.J.?
30:14
Does he have what it takes to make it Sandler O'Neill?
30:17
I don't know about that,
30:18
Listen, how do you think I afford
30:21
my 1999 Dodge Stratus payment every month?
30:24
(crowd laughs)
30:26
He has a presence, he doesn't take himself too seriously,
30:29
so that's a good start. That's passion.
30:31
[Jimmy] Humility is a good thing.
30:32
Time is money, time is money, I gotta get back.
30:33
Okay, thanks, A.J.
30:34
That's A.J. Voelpel.
30:35
(audience applauds)
30:41
So, we were talking before the show,
30:42
and one of the things that you said,
30:44
or, I'm paraphrasing a little bit,
30:46
you have as much passion, if not more,
30:48
for the game now, playing the game,
30:49
than you did 20 years ago.
30:51
Where's that come from?
30:53
I tell you, I've always, when I grew up,
30:58
I was blessed because I had four sisters,
31:00
I've got a good family.
31:02
It had it's issues, like every Irish family has,
31:06
but my father, who was a really smart guy,
31:08
he was not a college guy or anything like that;
31:10
he said look, there are three critical things,
31:12
other than your faith and your health.
31:14
He said you gotta do good enough in school
31:17
so you can go to the best school you can go into.
31:20
He didn't go to college,
31:21
so that for me was Notre Dame, which was fabulous.
31:24
He said, you absolutely gotta marry the right girl,
31:27
which, I'm not sure he did, but I did.
31:30
So that was good advice.
31:31
And, he said the third most important thing is
31:34
you've gotta get good enough at golf
31:35
so you're scared to death on the first tee.
31:38
And, if you do those three things, you're gonna be alright,
31:43
it was really good advice.
31:45
So, I've always, when I was trying
31:46
to win the caddie tournament,
31:48
trying to win the school boy thing,
31:50
or trying to win anything, I just really,
31:53
and I think it goes back to this idea about,
31:57
he can play when it counts.
32:00
And I love the feeling, you know.
32:01
You don't always perform,
32:03
but occasionally, when you do, it's exhilarating.
32:06
And, maybe it's because I wasn't very good,
32:09
but I don't feel like,
32:11
I think I'm better today than when I was when I was 35.
32:14
So, that shows you how lousy I was when I was 35,
32:16
that's the first thing.
32:18
but, I still feel like I have a chance,
32:19
and I wanna try to qualify for the Senior Amateur,
32:25
because I always felt like, that 911,
32:29
that was my good chance to get into a USGA event,
32:31
and obviously that didn't happen,
32:33
and then for several years after that
32:34
I didn't play any golf.
32:36
But, I think that,
32:37
I'd love to get that one thing done,
32:39
because that would be one thing that I'd like to just do.
32:43
Well, we're going to help you get there.
32:44
And, I'm not counting you out on that.
32:46
If there's anything that we've learned from you
32:47
it's that if you put your mind on something,
32:49
bet on it to happen.
32:50
No, I'm gonna try hard, I enjoy it.
32:51
Well, we really appreciate you being here.
32:53
Thank you so much, Harry. Thank you so much.
32:54
Great, thanks a lot.
32:55
That's Jimmy Dunne.
32:56
This is Callaway Live.
32:57
Next week Lydia Ko will be here.
33:00
Oh, wow.
33:01
Make sure you watch next week
33:02
Thanks to Lydia.
33:03
Morgan Pressel will be here as well.
33:06
Enjoy your week, thanks everybody, for watching.
33:08
We'll see you again, on Callaway Live.
33:09
Thank you.
33:10
(audience applauds)
33:14
(upbeat electronic music)
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