Tee time.(Whispers)

If you've ever wondered what it's like to play golf at Augusta National Golf Club in Georgia, apparently it's as impressive as you thought.

"There isn't anything you could compare Augusta to for somebody that plays golf," Warren Stephens, CEO of Stephens Inc. of Little Rock, said during a January deposition. (See Page 14.) "There's no comparison .... It's client entertainment, but the difference between a moped and a 747 fitted out to the nines."

Stephens is a member and his daddy, lack, was chairman at Augusta, home of the Masters Tournament, golf's most prestigious event. The member ship to Augusta is by invitation only.

At certain times of the year, Stephens said he can't have any guests. And at other times of the year, the maximum number of guests is three.

Stephens also said it's "discouraged pretty strongly" to have guests there for business development purposes.

"You would be na'ive to think that that doesn't happen," Stephens said.

Print Get the Mag Weekly Updates