CALLAWAY GIVES ALDILA THE SHAFT

     "Shares of golf-equipment suppliers were in the rough Monday
after Aldila Inc. announced that this year's earnings likely will
fall below last year's levels."  The news knocked its stock down
51%.  Aldila attributed the expected decline in revenue and
earnings to Callaway Golf Co.'s decision to start buying golf
club shafts from a wide base of companies.  San Diego-based
Aldila is the largest supplier of graphite shafts to Callaway.
Aldila said 66% of its revenue last year came from supplying
Callaway.  The other large maker of clubs, Cobra Golf Inc.,
manufactures its own shafts.  But "many investors mistakenly took
Aldila's announcement as a sign that Callaway's business also
would be down this year."  Callaway's stock dropped nearly 3%
(DOW JONES/ST. LOUIS POST-DISPATCH, 1/24)
     OTHER GOLF NEWS:  Cobra announced that it has received two
individual patents for the cosmetic design and functionality of
all product categories of Cobra's oversize iron heads
(Cobra)....Gamemaker T-HQ announced that the company will publish
"PGA Tour Golf III" for Nintendo and Sega game systems (T-
HQ)....Renaissance Golf Products Chair Miles Doody announced that
Fila Golf will introduce several new products at the '95 PGA
Merchandise Show in Orlando, on January 27-30 (Renaissance).