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Originally Posted by eurobounce
I think you are right. But when you try to operate with more money then you bring in then you need to make changes in operating costs. To my knowledge, this has never been done. They have not funded their pension and they pay their taxes late. To me it is a bad business model that needs some fixing. I have yet to see anyone come up with a new business model.
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While I agree with you conceptually, we are all examing this from a great distance. NYRA has not been able to operate with the current amount of revenue collected. Who is to say that Jack Welch or anyone else for that matter could do any better, worse, different, etc? That is not about skills, or anything of the like. And, it might not be about cutting operating costs. Certain costs are fixed and unavoidable. Many are not of course and sure there should have been changes. There were some but yes, probably not enough. I just don't think that would have solved the problem. The problem was bigger -- outside, external elements.
It would be futile to debate business accumen and management styles on this of course. I think the business model is a more global issue, not just about how NYRA is run.
Eric