James R. and Myrtice L. Peacock - Page 6




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               The tournaments were hosted by marinas worldwide in exotic,            
          resortlike places such as the Bahamas, Cabo San Lucas (Mexico),             
          Tahiti, Mauritius, and St. Thomas and presented a social setting            
          that included cocktail parties and dinners, with camaraderie                
          among contestants.  Petitioners participated in the tournaments             
          held in the Bahamas, Cabo San Lucas, and St. Thomas, mainly from            
          April through July.  Between 25 and 80 teams participated in each           
          tournament, and approximately 15 of those teams, including                  
          petitioners’ team, participated in the same circuit of                      
          tournaments every year.                                                     
               The tournaments had an atmosphere resembling that of a                 
          college spring break and took place in some of the world’s most             
          beautiful locations.  During the tournaments, the sunny,                    
          crystal-clear blue water vacation destinations were the backdrop            
          to sunglassed, beach-attired men and women, five-star                       
          restaurants, free-flowing alcoholic beverages, and swarms of                
          revelers consisting mainly of contestants and spectators.  The              
          contestants generally fished during the day and danced and                  
          celebrated through the night.  The celebrations occurred at or              
          near the expensive, posh accommodations where the contestants               
          generally stayed during the tournaments.                                    











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