The Vol. 11, No. 4 Pellucid Perspective April 2020 GLASS HALF FULL 2 COVID, an unlikely golden opportunity for golf? By Stuart Lindsay TWO PATHS DIVERGED 5 Golf operator's dilemma: Shut down or soldier on? By Harvey Silverman INDUSTRY IMPACTS 7 A (semi) quantitative analysis of COVID's full year impact By Jim Koppenhaver WEATHER IMPACT 12 March favorability squandered... BY-THE-NUMBERS 14 Feb Utilization a solid up; Rounds gain beats favorable weather MARKET FOCUS 16 Detroit, the indefatigable market faces down another challenge COMINGS & GOINGS 18 10 Activities; Closeds edge out Transactions 5 to 4 www.PellucidCorp.com The Pellucid Perspective 1http://www.PellucidcorP.com