The 3/15 issue of GolfWorld contains a lengthy and very well-written article entitled "Altered Course" concerning the difficult times faced by golf course architects. Written by Chris Milliard, the article quotes Ian Andrew, Bill Bergin, Tom Doak, Bill Coore, Ron Whitten, Mike Young, Bobby Weed, and representatives from the RT Jones II and Nicklaus firms, among others.
The essence of the article, not surprisingly, is that times are tough for GCA's, and likely to get tougher in the aftermath of the collapse of the housing mark and the credit crunch. One has to feel for the the GCA's who have put heart and soul into learning the profession and practicing it well only to see this happen. The article details the career of Kurt Bowman, who was working in the Nicklaus firm, but is now selling water desalinization plants rather than designing golf holes.
It appears that this is part I of at least two parts; the magazine says that in the next issue they will examine "Where does golf course architecture go from here?"
It's a good read, and echos much that has been shared here by some of the same gentlemen quoted in the article.