The Players Championship
The Players Championship is an annual golf tournament on the PGA Tour. Known as the Tournament Players Championship, it began in 1974; the Players Championship offers the highest prize fund of any tournament in golf, overtaking the U. S. Open which offers a $12 million purse; the field includes the top 50 players in the world rankings, but unlike the three major championships or two World Golf Championships events staged in the United States, it is not an official event on the European Tour. The Players has been considered the unofficial "fifth major" due to its prestige, its host course in Ponte Vedra Beach and its large purse; as of 2019 the victor receives $2.25 million, the winner's share of the largest purse in golf, receives 80 points towards his world ranking, the largest share aside from the majors, for which winners earn 100 points. For comparison, the winners of the four individual World Golf Championships receive between 70 and 78 points; the winner receives a five-year exemption on the PGA Tour, a three-year invitation to the Masters Tournament, three-year exemptions for the U.
S. Open and The Open Championship, an exemption to the next three PGA Championship tournaments starting in 2018; the winner earns 600 FedEx Cup points, if a PGA Tour member. On January 28, 2019, it was announced the 2019 Players Championship would include a $12.5 million purse, which the PGA Tour promoted as being the largest in a single professional golf tournament. The field consists of 144 players consisting of the following criteria: Winners of PGA Tour events since last Players Top 125 from previous season's FedEx Cup points list Top 125 Major champions from the past five years Players Championship winners from the past five years The Tour Championship winners from the past three years World Golf Championship winners from the past three years Memorial Tournament and Arnold Palmer Invitational winners from the past three years Top 50 from the Official World Golf Ranking Senior Players champion from prior year Web.com Tour money leader from prior season Money leader during the Web.com Tour Finals, if not the regular-season money leader Top 10 current year FedEx Cup points leaders Remaining positions and alternates filled through current year FedEx Cup standings The Players Championship was conceived by the PGA Tour commissioner Deane Beman.
It moved to Texas for 1975, at the Colonial Country Club in Fort Worth in August, to south Florida for 1976 at Inverrary Country Club in Lauderhill, at its East Course in late February. Beginning in 1977, the event moved up the coast and was played at Ponte Vedra Beach in mid-March at Sawgrass Country Club's Oceanside Course. Since 1982, it has been played across the road to the west, at the Stadium Course at TPC at Sawgrass; the word "Tournament" was dropped from the title following the 1987 event. Following the 2006 event, the course underwent a major renovation, which received positive reviews from the players in 2007. Included in the renovation was a new 77,000-square-foot Mediterranean Revival-style clubhouse. For the first thirty years at Ponte Vedra Beach, the championship was played in mid- to late March, several weeks before The Masters, it was moved to May in 2007, to the weekend including the second Saturday, as part of a restructuring of the PGA Tour. This restructuring involved the introduction of the lucrative FedEx Cup, which concludes with The Tour Championship.
The change gave the PGA Tour a marquee event in six consecutive months. With the rearrangement of 2007, the final round of The Players Championship was on the second Sunday of May, Mother's Day. To mark this, most players wore pink shirts or accessories on Sunday, many in the galleries joined them in donning pink garb. In August 2017, it was announced that The Players would return to March beginning in 2019, due to a realignment of the golf season that moves the PGA Championship from August to May; the playoff format was sudden-death through 2013 starting at the par-3 17th hole. The format was changed to a three-hole aggregate in 2014, similar to the PGA Championship, played over the final three holes, in order. If still tied, the playoff starts at the 17th. Since moving to the Stadium Course in 1982, only four playoffs have been necessary; the 1987 playoff started at the par-5 16th and went to a third extra hole at the par-4 18th, with three pars by the winner. The 2015 playoff included three participants.
It became the first playoff at the Players to end with a birdie. The Players has yet to produce a successful title defense.
Davis Love III
Davis Milton Love III is an American professional golfer who has won 21 events on the PGA Tour, including one major championship: the 1997 PGA Championship. He won the Players Championship in 1992 and 2003, he was in the top 10 of the Official World Golf Ranking for over 450 weeks, reaching a high ranking of 2nd. He captained the U. S. Ryder Cup teams in 2012 and 2016. Love was inducted into the World Golf Hall of Fame in 2017. Love was born in Charlotte, North Carolina, to Davis Love, Jr. and his wife, Helen, a day after his father competed in the final round at the 1964 Masters Tournament. His father, a former pro and nationally recognized golf instructor, introduced him to the game, his mother is an avid low-handicap golfer. His father was killed in a 1988 plane crash. Love attended high school in Brunswick and graduated from its Glynn Academy in 1982, he played college golf at the University of North Carolina in Chapel Hill, where he was a three-time All-American and all-Atlantic Coast Conference.
He won six titles during his collegiate career, including the ACC tournament championship as a sophomore in 1984. He is a Republican, has donated money to Johnny Isakson and George W Bush. Love turned professional in 1985, earning his PGA Tour card in the autumn of 1985, on his first attempt, he established himself on the PGA Tour, winning his first tour event in 1987 at the MCI Heritage Golf Classic, at Harbour Town Golf Links. He would win this event four more times, setting a record for the most victories in the tournament. Love and Fred Couples won four straight times from 1992–95 for the United States in the World Cup of Golf, a record for this event. Love was a consistent contender and winner on the PGA Tour in the 1990s and early 2000s, but the most memorable win came at the 1997 PGA Championship, his only major championship victory, it was played at Winged Foot Golf Club near New York City, just four players in the field finished under-par for the week. Love's winning score was 11-under-par, five strokes better than runner-up Justin Leonard.
When Love sank his birdie putt on the final hole of the championship, it was under the arc of a rainbow, which appeared as he walked up to the 18th green. In the telecast, CBS Sports announcer Jim Nantz made the connection between the rainbow and Love's late father, Davis Love, Jr., a well-known and beloved figure in the golf world. This victory was the last major championship win achieved with a wooden-headed driver. In 1994, Love founded Love Golf Design, a golf course architecture company, with his younger brother and caddie, Mark Love; the company has been responsible for the design of several courses throughout the southeast United States. Completed in 1997, Ocean Creek is his first signature course and is located on Fripp Island, South Carolina. Love designed the Dunes course at Diamante in Cabo San Lucas, ranked among Golf Magazine's Top 100 courses in the world. In 1997, Love published the book Every Shot I Take, which honors his father's lessons on life and golf, it received the United States Golf Association's International Book Award.
That year, he designed his own golf course in Harnett County, North Carolina. The course, Anderson Creek Club, won an award for "Best New Course in North Carolina" in 2001, he and his wife Robin have two children. On November 9, 2008, Love earned his 20th PGA Tour win at the Children's Miracle Network Classic, which gave him a lifetime exemption on Tour. In 2012, Love captained the U. S. Team that lost the 2012 Ryder Cup, his victory in the 2015 Wyndham Championship—at age 51—made him the third oldest winner in PGA Tour history, trailing only Sam Snead and Art Wall, Jr. The win made Love the oldest PGA Tour winner in the PGA Tour Champions era, it brought Love into select company in another PGA Tour distinction: he became only the third player to win on the tour in four different decades, joining Snead and Raymond Floyd. After failing to qualify for the FedEx Cup in 2014, Love made his Champions Tour debut at the Pacific Links Hawaii Championship. Love is the tournament host of the RSM Classic. In 2015, son Davis IV missed the cut.
In 2016, Love captained the winning U. S. Team at the 2016 Ryder Cup. After Davis failed to qualify for the 2017 U. S. Open, he caddied for Dru. On December 16, 2018, Love and his son Dru won the Father/Son Challenge at Ritz-Carlton Golf Club in Orlando, Florida. Has a portion of Interstate 95 named after him. In 1998, the segment of I-95 which extends in Georgia from the McIntosh County line to Highway 341 at exit 7A and B was designated the "Davis Love III Highway." Love hit the second-longest drive officially recorded in competition play at the Mercedes Championships in 2004. His 476-yard drive was still 39 yards short of Mike Austin's record, he has a restaurant named after him in his hometown of Sea Island, called the Davis Love Grill. 1984 North and South Amateur, Middle Atlantic Amateur PGA Tour playoff record 1998 The Crowns 1990 JCPenney Classic 1992 Franklin Funds Shark Shootout, World Cup of Golf, Kapalua International 1993 World Cup of Golf 1994 World Cup of Golf 1995 World Cup of Golf, World Cup of Golf Individual Trophy, JCPenney Classic 1997 Lincoln-Mercury Kapalua International 2000 CVS Charity Classic, Williams World Challenge* 2003 Target World Challenge 2012 PNC Father-Son Challenge 2018 PNC Father-Son Challenge * This event was staged twice in 2000 once in January
Taiwan the Republic of China, is a state in East Asia. Neighbouring states include the People's Republic of China to the west, Japan to the northeast, the Philippines to the south. Taiwan is the most populous state and largest economy, not a member of the United Nations; the island of Taiwan was inhabited by indigenous peoples for thousands of years before the 17th century, when Dutch colonialists opened the island to mass Han immigration. After a brief rule by the Kingdom of Tungning, the island was annexed in 1683 by the Qing dynasty of China, ceded to Japan in 1895. Following the surrender of Japan in 1945, the Republic of China, which had overthrown and succeeded the Qing in 1911, took control of Taiwan; the resumption of the Chinese Civil War led to the loss of the mainland to the Communists and the flight of the ROC government to Taiwan in 1949. Although the ROC government continued to claim to be the legitimate representative of China, since 1950 its effective jurisdiction has been limited to Taiwan and several small islands.
In the early 1960s, Taiwan entered a period of industrialisation. In the 1980s and early 1990s, it changed from a one-party military dictatorship to a multi-party democracy with a semi-presidential system; as a founding member, the ROC represented China in the UN until it was replaced by the PRC in 1971. The PRC has claimed sovereignty over Taiwan and refused diplomatic relations with any country that recognises the ROC; as of 2019, Taiwan maintains official ties with 16 out of 193 UN member states. Most international organisations in which the PRC participates either refuse to grant membership to Taiwan or allow it to participate only as a non-state actor. Most major powers maintain unofficial ties with Taiwan through representative offices and institutions that function as de facto embassies and consulates. In Taiwan, the major political division is between parties favouring eventual Chinese unification and promoting a Chinese identity contrasted with those aspiring to independence and promoting a Taiwanese identity, though both sides have moderated their positions to broaden their appeal.
Taiwan is a high-income advanced economy, with a skilled and educated workforce. It has the 22nd-largest economy in the world, its high-tech industry plays a key role in the global economy, it is urbanised, is one of the most densely populated countries in the world, with most of the population concentrated on the western coast. The state is ranked in terms of civil and political liberties, health care and human development. Various names for the island of Taiwan remain in use today, each derived from explorers or rulers during a particular historical period; the name Formosa dates from 1542, when Portuguese sailors sighted an uncharted island and noted it on their maps as Ilha Formosa. The name Formosa "replaced all others in European literature" and remained in common use among English speakers into the 20th century. In the early 17th century, the Dutch East India Company established a commercial post at Fort Zeelandia on a coastal sandbar called "Tayouan", after their ethnonym for a nearby Taiwanese aboriginal tribe Taivoan people, written by the Dutch and Portuguese variously as Taiouwang, Teijoan, etc.
This name was adopted into the Chinese vernacular as the name of the sandbar and nearby area. The modern word "Taiwan" is derived from this usage, seen in various forms in Chinese historical records; the area occupied by modern-day Tainan represented the first permanent settlement by both European colonists and Chinese immigrants. The settlement grew to be the island's most important trading centre and served as its capital until 1887. Use of the current Chinese name became official as early as 1684 with the establishment of Taiwan Prefecture. Through its rapid development the entire Formosan mainland became known as "Taiwan". In his Daoyi Zhilüe, Wang Dayuan used "Liuqiu" as a name for the island of Taiwan, or the part of it closest to Penghu. Elsewhere, the name was used for the Ryukyu Islands in general or Okinawa, the largest of them; the name appears in the Book of Sui and other early works, but scholars cannot agree on whether these references are to the Ryukyus, Taiwan or Luzon. The official name of the state is the "Republic of China".
Shortly after the ROC's establishment in 1912, while it was still located on the Chinese mainland, the government used the short form "China" to refer to itself, which derives from zhōng and guó, a term which developed under the Zhou dynasty in reference to its royal demesne, the name was applied to the area around Luoyi during the Eastern Zhou and to China's Central Plain before being used as an occasional synonym for the state during the Qing era. During the 1950s and 1960s, after the government had withdrawn to Taiwan upon losing the Chinese Civil War, it was referred to as "Nationalist China" to differentiate it from "Communist China", it was a member of the United Nations representing "China" until 1971, when it lost its seat to the People's Republic of China. Over subsequent decades, the Republic of China has become known as "Taiwan", after the island that comprises 99% of the territory under its control. In some contexts ROC government publications, the name is written as "
Jack William Nicklaus, nicknamed The Golden Bear, is a retired American professional golfer. Many observers regard him as the greatest golfer of all time. During a span of more than 25 years, he won a record 18 major championships. Nicklaus focused on the major championships—Masters Tournament, U. S. Open, Open Championship and PGA Championship—and played a selective schedule of regular PGA Tour events, he finished with 73 victories, third on the all-time list behind Tiger Woods. Nicklaus won the U. S. Amateur in 1959 and 1961 and challenged for the 1960 U. S. Open, where he finished in second place, two shots behind Arnold Palmer. Nicklaus turned professional at age 21 toward the end of 1961, he earned his first professional win at the 1962 U. S. Open; this win over Palmer began the on-course rivalry between the two golf superstars. In 1966, Nicklaus won the Masters Tournament for the second year in a row, becoming the first golfer to achieve this distinction, won The Open Championship, completing his career slam of major championships.
At age 26, he became the youngest to do so at the time. He won another Open Championship in 1970. Between 1971 and 1980, he won an additional nine major championships, overtook Bobby Jones' record of 13 majors, became the first player to complete double and triple career slams of golf's four professional major championships; when Nicklaus claimed his 18th and final major championship at age 46 at the 1986 Masters, he became the tournament's oldest winner. Nicklaus joined the Senior PGA Tour when he became eligible in January 1990, by April 1996 had won 10 tournaments, including eight major championships despite playing a limited schedule, he continued to play at least some of the four regular Tour majors until 2005, when he made his final appearances at the Masters Tournament and The Open Championship. Nicklaus has taken part in various other activities, including golf course design, charity work and book writing, he is a member of the American Society of Golf Course Architects and has helped design courses such as Harbour Town Golf Links.
Nicklaus runs his own event on the PGA Tour, the Memorial Tournament. His golf course design company is one of the largest in the world. Nicklaus' books vary from instructional to autobiographical, with his Golf My Way considered one of the best instructional golf books of all time. Nicklaus was born in Columbus and grew up in the suburb of Upper Arlington, he is of German descent, the son of Helen and Charlie Nicklaus, a pharmacist who ran several businesses named Nicklaus Drug Store. Charlie was a skilled all-round athlete who had played football for the Ohio State Buckeyes and had gone on to play semi-professional football under an assumed name for the Portsmouth Spartans. Charlie had been a scratch golfer and local tennis champion in his youth. Charlie Nicklaus died of pancreatic cancer at age fifty six. Nicklaus was raised in Upper Arlington and attended Upper Arlington High School, whose nickname and mascot are coincidentally the Golden Bears. In his senior year, Nicklaus was an honorable mention All-Ohio selection in basketball as a shooting guard, he received some recruiting interest from college basketball programs, including Ohio State.
During his youth, he competed in football, baseball and track and field. Nicklaus took up golf at the age of 10, scoring a 51 at Scioto Country Club for his first nine holes played. Charlie Nicklaus had joined Scioto that same year, returning to golf to help heal a volleyball injury. Jack Nicklaus was coached at Scioto by club pro Jack Grout, a Texas-developed contemporary of golf greats Byron Nelson and Ben Hogan. Nicklaus overcame a mild case of polio as a 13-year-old. Nicklaus won the first of five straight Ohio State Junior titles at the age of 12. At 13, he broke 70 at Scioto Country Club for the first time, became that year's youngest qualifier into the U. S. Junior Amateur, he had earned a handicap of +3 at the lowest in the Columbus area. Nicklaus won the Tri-State High School Championship at the age of 14 with a round of 68, recorded his first hole-in-one in tournament play the same year. At 15, Nicklaus shot a 66 at Scioto Country Club, the amateur course record, qualified for his first U.
S. Amateur, he won the Ohio Open in 1956 at age 16, highlighted by a phenomenal third round of 64, competing against professionals. In all, Nicklaus won 27 events in the Ohio area from age 10 to age 17. In 1957, Nicklaus won the International Jaycee Junior Golf Tournament, having lost the previous year in a playoff. Nicklaus competed in his first of 44 consecutive U. S. Opens that year, but missed the cut. In 1958 at age 18, he competed in his first PGA Tour event, the Rubber City Open, at Akron, tying for 12th place after being just one out of the lead at the 36-hole mark, made the cut in the U. S. Open, tying for 41st place. Nicklaus won two Trans-Mississippi Amateurs – in 1958 at Prairie Dunes Country Club and 1959 at Woodhill Country Club, with final match victories of 9 & 8 and 3 & 2, respectively. In 1959, Nicklaus won the North and South Amateur at Pinehurst, North Carolina and competed in three additional PGA Tour events, with his best finish being another 12th place showing at the Buick Open.
While attending Ohio State, he won the U. S. Amateur twice, an NCAA C
The Masters Tournament is one of the four major championships in professional golf. Scheduled for the first full week of April, the Masters is the first major of the year, unlike the others, it is always held at the same location, Augusta National Golf Club, a private course in the southeastern United States, in the city of Augusta, Georgia; the Masters was started by noted amateur champion Bobby Jones and investment banker Clifford Roberts. After his grand slam in 1930, Jones acquired the former plant nursery and co-designed Augusta National with course architect Alister MacKenzie. First played 85 years ago in 1934, the tournament is an official money event on the PGA Tour, the European Tour, the Japan Golf Tour; the field of players is smaller than those of the other major championships because it is an invitational event, held by the Augusta National Golf Club. The tournament has a number of traditions. Since 1949, a green jacket has been awarded to the champion, who must return it to the clubhouse one year after his victory, although it remains his personal property and is stored with other champions' jackets in a specially designated cloakroom.
In most instances, only a first-time and reigning champion may remove his jacket from the club grounds. A golfer who wins the event multiple times uses the same green jacket awarded upon his initial win; the Champions Dinner, inaugurated by Ben Hogan in 1952, is held on the Tuesday before each tournament, is open only to past champions and certain board members of the Augusta National Golf Club. Beginning in 1963, legendary golfers past champions, have hit an honorary tee shot on the morning of the first round to commence play; these have included Fred McLeod, Jock Hutchinson, Gene Sarazen, Sam Snead, Byron Nelson, Arnold Palmer, Jack Nicklaus, Gary Player. Since 1960, a semi-social contest at the par-3 course has been played on Wednesday, the day before the first round. Nicklaus has the most Masters wins, with six between 1963 and 1986. Palmer and Tiger Woods won four each, five have won three titles at Augusta: Jimmy Demaret, Sam Snead, Gary Player, Nick Faldo, Phil Mickelson. Player, from South Africa, was the first non-American player to win the tournament, in 1961.
The Augusta National course first opened 86 years ago in 1933 and has been modified many times by different architects. Among the changes: greens have been reshaped and, on occasion re-designed, bunkers have been added, water hazards have been extended, new tee boxes have been built, hundreds of trees have been planted, several mounds have been installed; the idea for Augusta National originated with Bobby Jones, who wanted to build a golf course after his retirement from the game. He sought advice from Clifford Roberts, who became the chairman of the club, they came across a piece of land in Augusta, Georgia, of which Jones said: "Perfect! And to think this ground has been lying here all these years waiting for someone to come along and lay a golf course upon it." The land had been an indigo plantation in the early nineteenth century and a plant nursery since 1857. Jones hired Alister MacKenzie to help design the course, work began in 1931; the course formally opened in 1933, but MacKenzie died before the first Masters Tournament was played.
The first "Augusta National Invitational" Tournament, as the Masters was known, began on March 22, 1934, was won by Horton Smith, who took the first prize of $1,500. The present name was adopted in 1939; the first tournament was played with current holes 10 through 18 played as the first nine, 1 through 9 as the second nine reversed permanently to its present layout for the 1935 tournament. The Augusta National Invitational field was composed of Bobby Jones' close associates. Jones had petitioned the USGA to hold the U. S. Open at Augusta but the USGA denied the petition, noting that the hot Georgia summers would create difficult playing conditions. Gene Sarazen hit the "shot heard'round the world" in 1935, holing a shot from the fairway on the par 5 15th for a double eagle; this tied Sarazen with Craig Wood, in the ensuing 36-hole playoff Sarazen was the victor by five strokes. The tournament was not played from 1943 to 1945, due to World War II. To assist the war effort and turkeys were raised on the Augusta National grounds.
The Big Three of Arnold Palmer, Gary Player, Jack Nicklaus dominated the Masters from 1960 through 1978, winning the event 11 times among them during that span. After winning by one stroke in 1958, Palmer won by one stroke again in 1960 in memorable circumstances. Trailing Ken Venturi by one shot in the 1960 event, Palmer made birdies on the last two holes to prevail. Palmer would go on to win another two Masters in 1962 and 1964. Jack Nicklaus emerged in the early 1960s, served as a rival to the popular Palmer. Nicklaus won his first green jacket in 1963. Two years he shot a then-course record of 271 for his second Masters win, leading Bobby Jones to say that Nicklaus played "a game with which I am not familiar." The next year, Nicklaus won his third green jacket in a grueling 18-hole playoff against Tommy Jacobs and Gay Brewer. This made Nicklaus the first player to win consecutive Masters, he won again in 1972 by three strokes. In 1975, Nicklaus won by one stroke in a close contest with Tom Weiskopf and Johnny Miller in one of the most exciting Masters to date.
Gary Player became the first non-American to win the Masters in 1961, beating Palmer, the defending champion. In 1974, he won again by two strokes. After no
MCI, Inc. was an American telecommunication corporation a subsidiary of Verizon Communications, with its main office in Ashburn, Virginia. The corporation was formed as a result of the merger of WorldCom and MCI Communications corporations, used the name MCI WorldCom, succeeded by WorldCom, before changing its name to the present version on April 12, 2003, as part of the corporation's ending of its bankruptcy status; the company traded on NASDAQ as WCOM and MCIP. The corporation was purchased by Verizon Communications with the deal finalizing on January 6, 2006, is now identified as that company's Verizon Enterprise Solutions division with the local residential divisions being integrated into local Verizon subsidiaries. For a time, WorldCom was the United States's second largest long distance telephone company. WorldCom grew by acquiring other telecommunications companies, most notably MCI Communications in 1998. In 1996, it acquired a Tier 1 ISP that forms a major part of the Internet backbone.
It was headquartered in Clinton, Mississippi before relocating to Ashburn, Virginia. The company began as Long Distance Discount Service, Inc. during 1983, based in Jackson, Mississippi. In 1985, LDDS selected Bernard Ebbers to be its CEO; the company became traded publicly as a corporation in 1989 as a result of a merger with Advantage Companies Inc. The company name was changed to LDDS WorldCom in 1995, relocated to Clinton, Mississippi; the company grew in the 1990s. Among the companies that were bought or merged with WorldCom were Advanced Communications Corp. Metromedia Communication Corp. Resurgens Communications Group, IDB Communications Group, Williams Technology Group, Inc. and MFS Communications Company, MCI in 1998. The acquisition of MFS included UUNET Technologies, Inc., acquired by MFS shortly before the merger with WorldCom. In February 1998, WorldCom purchased—by a complex transaction—online pioneer company CompuServe from its parent company H&R Block. WorldCom retained the CompuServe Network Services Division, sold its online service to America Online, received AOL's network division, ANS.
The acquisition of Digex during June 2001 was complex. On November 4, 1997, WorldCom and MCI Communications announced their US$37 billion merger to form MCI WorldCom, making it the largest corporate merger in U. S. history. On September 15, 1998, the new company, MCI WorldCom, opened for business, after MCI divested itself of its successful "internetMCI" business to gain approval from the U. S. Department of Justice. On October 5, 1999, Sprint Corporation and MCI WorldCom announced a $129 billion merger agreement between the two companies. Had the deal been completed, it would have been the largest corporate merger in history; the merged company would have surpassed AT&T as the largest communications company in the United States. However, the deal floundered due to opposition from the U. S. Department of Justice and the European Union on concerns. On July 13, 2000, the boards of directors of both companies terminated the merger; that year, MCI WorldCom renamed itself "WorldCom". CEO Bernard Ebbers became wealthy from the increasing price of his holdings in WorldCom common stock.
However, in the year 2000 the telecommunications industry was in decline. WorldCom's aggressive growth strategy suffered a serious setback when, in July 2000, it was forced by the U. S. Justice Department to abandon its proposed merger with Sprint. By that time, WorldCom's stock price was decreasing, banks were placing increasing demands on Ebbers to cover margin calls on his WorldCom stock that were used to finance his other businesses. In 2001, Ebbers persuaded WorldCom's board of directors to provide him corporate loans and guarantees in excess of $400 million to cover his margin calls; the board hoped that the loans would avert the need for Ebbers to sell substantial amounts of his WorldCom stock, as his doing so would result in a further decrease of the stock's price. However, this strategy failed. In April 2002, Ebbers resigned as CEO and was replaced by John Sidgmore, former CEO of UUNET Technologies Inc. Beginning modestly during mid-1999 and continuing at an accelerated pace through May 2002, the company—directed by Ebbers, Scott Sullivan, David Myers, Buford "Buddy" Yates —used fraudulent accounting methods to disguise its decreasing earnings to maintain the price of WorldCom's stock.
The fraud was accomplished in two ways: Booking "line costs" as capital expenditures on the balance sheet instead of expenses. Inflating revenues with bogus accounting entries from "corporate unallocated revenue accounts". In 2002, a small team of internal auditors at WorldCom worked together at night and secretly, to investigate and reveal $3.8 billion worth of fraud. Soon thereafter, the company's audit committee and board of directors were notified of the fraud and acted swiftly: Sullivan was dismissed, Myers resigned, Arthur Andersen withdrew its audit opinion for 2001, the U. S. Securities and Exchange Commission began an investigation into these matters on June 26, 2002. By the end of 2003, it was estimated that the company's total assets had been inflated by about $11 billion; this made the WorldCom scandal the largest accounting fraud in American history until the exposure of Bernard
U.S. Open (golf)
The United States Open Championship known as the U. S. Open, is the annual open national championship of golf in the United States, it is the third of the four major championships in golf, is on the official schedule of both the PGA Tour and the European Tour. Since 1898 the competition has been 72 holes of stroke play, with the winner being the player with the lowest total number of strokes, it is staged by the United States Golf Association in mid-June, scheduled so that, if there are no weather delays, the final round is played on the third Sunday, Father's Day. The U. S. Open is staged at a variety of courses, set up in such a way that scoring is difficult, with a premium placed on accurate driving; as of 2019 the U. S. Open awards a $12 million purse, the largest of all 4 major championships and second largest of all PGA Tour events; the first U. S. Open was played on October 4, 1895, on a nine-hole course at the Newport Country Club in Newport, Rhode Island, it was played in a single day. Ten professionals and one amateur entered.
The winner was Horace Rawlins, a 21-year-old Englishman, who had arrived in the U. S. earlier that year to take up a position at the host club. He received $150 cash out of a prize fund of $335, plus a $50 gold medal. In the beginning, the tournament was dominated by experienced British players until 1911, when John J. McDermott became the first native-born American winner. American golfers soon began to win and the tournament evolved to become one of the four majors. Since 1911, the title has been won by players from the United States. Since 1950, players from only six countries other than the United States have won the championship, most notably South Africa, which has won five times since 1965. A streak of four consecutive non-American winners occurred from 2004 to 2007 for the first time since 1910; these four players, South African Retief Goosen, New Zealander Michael Campbell, Australian Geoff Ogilvy and Argentine Ángel Cabrera, are all from countries in the Southern Hemisphere. Northern Ireland's Graeme McDowell became the first European player to win the event since Tony Jacklin of England in 1970.
U. S. Open play is characterized by tight scoring at or around par by the leaders, with the winner emerging at around par. A U. S. Open course is beaten and there have been many over-par wins. An Open course is quite long and will have a high cut of primary rough; some courses that are attempting to get into the rotation for the U. S. Open will undergo renovations to develop these features. Rees Jones is the most notable of the "Open Doctors"; as with any professional golf tournament, the available space surrounding the course and local infrastructure factor into deciding which courses will host the event. The U. S. Open is open to any professional, or to any amateur with a USGA Handicap Index not exceeding 1.4. Players may obtain a place by being exempt or by competing in qualifying; the field is 156 players. About half of the field is made up of players who are exempt from qualifying; the current exemption categories are: Winners of the U. S. Open for the last ten years Winner and runner-up from the previous year's U.
S. Amateur and winners of the previous year's U. S. Junior Amateur and U. S. Mid-Amateur Winner of the previous year's Amateur Championship The previous year's Mark H. McCormack Medal winner for the top-ranked amateur golfer in the world Winners of each of Masters Tournament, Open Championship and PGA Championship for the last five years Winners of the last three Players Championships Winner of the current year's BMW PGA Championship Winner of the last U. S. Senior Open In the year after the Olympic golf tournament, the reigning men's gold medalist Top 10 finishers and ties from the previous year's U. S. Open Players who qualified for the previous year's Tour Championship The top 60 in the Official World Golf Ranking as of two weeks before the start of the tournament The top 60 in the OWGR as of the tournament date Special exemptions selected by the USGA All remaining spots after the second top 60 OWGR cutoff date filled by alternates from qualifying tournaments; the exemptions for amateurs apply.
Before 2011, the sole OWGR cutoff for entry was the top 50 as of two weeks before the tournament. An exemption category for the top 50 as of the tournament date was added for 2011 in response to the phenomenon of golfers entering the top 50 between the original cutoff date and the tournament. Through 2011, exemptions existed for leading money winners on the PGA, European and Australasian tours, as well as winners of multiple PGA Tour eve