In the rough: CEOs shun golf

It's been a bruising week for golf: First, the US Open in New York was practically a flood zone, with rainouts, cancellations and decidedly soggy players and spectators.

Now, USA Today reports that CEOs are shying away from the game out of fear that they'll be viewed as putting while Rome Inc. burns.

Although USA Today conducted what it referred to as an "unscientific" study on executive golf habits, anecdotal reports in the piece indicate that head honchos are scaling back their game time or making an effort to be more low-key about their green time.

The conclusion makes sense, though. The company-sponsored golf outing has been vilified as a careless frivolty. It's been well documented that companies are cutting back on lavish meetings and junkets, especially since beleaguered insurance giant AIG was called on the carpet last year for holding an executive retreat after taking billions in government bailout money. Event planners and bookers even have a term for it; they've dubbed it the "AIG Effect."