Look out golf, tech CEOs are adrenaline junkies

By Franklin Paul

NEW YORK (Reuters) – Golf and tennis not challenging enough? Some of today’s hardest-charging technology executives are turning to 100-mile bike races, marathons and high-endurance athletics for the kicks they crave.

The day-to-day thirst for success doesn’t end when CEOs and other business leaders leave the boardrooms of their billion-dollar companies, according to guests at the Reuters Global Technology, Media and Telecoms Summit this week.

"It is usually not a six- or seven-hour day, so part of it is you probably want something to keep you mentally and physically in shape," said Enrique Salem, chief operating officer of software maker Symantec Corp. "You want to do something that is challenging, that isn’t about running a business."

Salem owns a Giant TCR C1 bike, which retails for over $3,000, and last year completed a charity ride around California’s Lake Tahoe twice — the second time in under 4 hours. His sojourns don’t stop there.

"I skied 19 days last year. When I’m on the slopes, I’m trying to avoid trees and other skiers. So I am not thinking about what it takes to run Symantec. I think it’s a bit of mental relief," he said.

Long-distance running offers the same meditative reward for Hulu Chief Executive Jason Kilar, whose five marathons include Iceland, Portland, Seattle and New York, twice.

"I love setting goals," said the head of the video website owned by News Corp and General Electric Co’s NBC Universal. "Life is more interesting when you set goals that are not easy, and having a goal of a marathon … is a very fun thing that focuses you in a way that just running 3 miles or 6 miles a day does not," Kilar added.

They are not alone. In fact, Denver-based CEO Challenges runs sports competitions designed for top executives, including Triathlons, Ironman, Fishing, Sailing and Tennis Challenges.

HOUR CLUB

Dave DeWalt, CEO of security software maker McAfee Inc, described his goal for the grueling Mount Diablo Challenge, a 10.8-mile bike ride up 3,240-feet to the peak in the San Francisco Bay area.

"There is a race from the bottom to the top," said DeWalt, who also wrestled in college and had been invited to Olympic trials. "I can only compete in the over 200-pound class because there are some really fast riders. But there is the "hour club" — if you can do it in one hour or less, there is a special club. I can’t quite crack it yet but I am working on it."

To be sure, golf courses, tennis courts and myriad other sports — beloved by leaders of all stripes — won’t go out of business any time soon.

For example, the crop of presidential hopeful has diverse taste in athletics. Sen. Hilary Clinton owns her own bowling ball, Sen. Barack Obama loves basketball, and Sen. John McCain likes to hike around the hills of his Sedona, Arizona, ranch.

Some business leaders aspire to adrenaline-driven jaunts, but are willing to leave the serious challenges to more adventurous peers."

"I don’t have a lot of athletic bones in my body. I wish I had more," said AT&T Inc Chief Financial Officer Rick Lindner. "We’ve got (two) boats … that we keep on Lake Travis. I will still jump on the water skis from time to time."

"Once or twice a year when conditions are perfect, the sun is shining, it’s 90 degrees, the water is smooth. I get up, do a circle, come around and have a beer and say, "By God, I can still do it."

 

Is Running Counterproductive to Strength Training?

 

24 Hour Fitness

 

24 Hour Fitness is the world’s largest (by memberships) privately owned and operated fitness center chain, and 3rd in number of clubs behind Gold’s Gym and Fitness First of the UK. It currently has 425 clubs in the U.S.A. The company’s corporate office is located in Carlsbad, California. The operations’ headquarters is in San Ramon, California in the Bay area. 24 Hour Fitness has over 19,000 employees. The founder is Mark S. Mastrov and current CEO is Carl Liebert III. 24 Hour Fitness is currently a subsidiary of the private equity firm Forstmann Little & Company, since its acquisition in a $1.6 billion leveraged buyout in 2005.

Current Operations

24 Hour Fitness has about 3 million members and nearly 400 clubs in 16 states, and over 20 clubs in five Asian countries. Besides the USA, it has centers in Asia (Singapore, Hong Kong, Taipei and Taichung in Taiwan, Beijing and Shanghai in China, and Kuala Lumpur, Malaysia) through its wholly owned subsidiary California Fitness. Its European clubs closed in the early 2000s. Its major competitors in the US are Anytime Fitness, Bally’s, Gold’s Gym, and LA Fitness . Its main competitors in Asia are also the same, plus the Fitness First Chain of Australia.

Its rapidly expanding affiliate California Wow Xperience (CEO is a former Cali Fitness executive), is a California Fitness offshoot, has member swap agreements with both chains, and runs 15 gyms located in Seoul and Daegu, Korea (4) and Bangkok, Chiang Mai and Pattaya, Thailand, including one female only club(10). In Asia, its major chain competitors are Fitness First and Gold’s Gym.

24 Hour Fitness plans to have more than 1000 clubs in the next five years. With sponsorships with various celebrities and athletes such as Jackie Chan, Lance Armstrong, Shaquille O’Neal, And Andre Agassi.

The call center for 24 Hour Fitness is run by NARS (National Asset Recovery Services, Inc.), with 24 Hour Fitness Member Services being in the Republic of Panama. Collections services were once handled by Alliance One up until March 2008, when NARS took over collections for 24 Hour Fitness. The NARS collections department is out of Montego Bay, Jamaica.

There are more than 300 locations nationwide, and these popular clubs are known for being open 24 hours/day. Most clubs offer just about all the amenities you could want, including cardio machines, weightlifting equipment, and group fitness classes. However, they vary from location to location. There are four types of 24-hour fitness clubs:

Active: Includes free weights, machines, cardio and may include group exercise.

Sport: May include all of the above and may also include basketball, whirlpool and heated pools.

Super-Sport: May include all of the above and may also include massage, sauna, and steam room.

Ultra-Sport: May include all of the above and may also include day spa, racquetball courts, and Executive locker rooms.