Magna Entertainment Corp (MEC) - Some Perspective

[blackthroatedwind]

Originally Posted by ArlJim78

Unless I'm mistaken I don't think Stronachs breeding program and his stable is funded by MEC. I believe that is his own and separate from Magna. Therefore there is substantial investment of his own in the industry.

Here is the quote....

" MEC is headed by Frank Stronach, who has invested hundreds of millions of dollars of his own money to enhance the TB industry. No one at CD (for sure) or NYRA can say the same."

The money you are suggesting was for him to race, breed, and sell horses. Sorry if I am not ready to declare this a humanitarian effort to improve racing. I would suggest, and I don't think if given sodium pentathol Frank would disagree, that this was done for personal pleasure and profit.

I am glad you brought me back to the quote however. I don't think the Phipps family, just to name one member of the NYRA board, would agree with the last sentance.

I understand Frank Stronach's commitment to racing. I also happen to think it is highly debatable that he has been good for racing overall and, more importantly, I am very concerned about what affect his enormous investment will have on racing in the future.

I like all 3 entities. However, NYRA cannot operate as a non-profit. It just doesnt work for them. Stronach is awesome. I love this guy and his passion and his vision. CDSI knows how to make money and they have to report to the share holders. But Frank also has to answer to his share holders and they are not very happy. But he has taken so many one time charges that it hurts his bottom line. Frank or CDSI will do wonders for New York Racing. If the NYRA could be a for profit company I think they could do a much better job. New York has the best facilities and the best racing in the nation year round and it should have a top rate organization running it.

[blackthroatedwind]

Considering Bill Nader, who is currently one of the top dogs " running " racing in New York, is 1-9 to be offered AT LEAST his current job by anybody who might get the NYRA franchise, I find it hard to understand why you would feel another entity would do a better job running NY racing.

Originally Posted by blackthroatedwind

Considering Bill Nader, who is currently one of the top dogs " running " racing in New York, is 1-9 to be offered AT LEAST his current job by anybody who might get the NYRA franchise, I find it hard to understand why you would feel another entity would do a better job running NY racing.

I know he will be the top dog but he will be under a certain amount of "restraint." CDSI and MEC are for profit companies. Whenever you have someone to answer to, the product is better. Right now NYRA is a good ole buddy system with no checks and balances. This is why another entity would do a better job.

[blackthroatedwind]

Originally Posted by eurobounce

Right now NYRA is a good ole buddy system with no checks and balances. This is why another entity would do a better job.

Actually, for the last few years NYRA has been overseen by NY State government. Sounds like at least " checks and balances " to me.

Originally Posted by blackthroatedwind

Actually, for the last few years NYRA has been overseen by NY State government. Sounds like at least " checks and balances " to me.

Are you kidding me. Like the gov't is going to have checks and balances--lol. Plus if it was run correctly, then the gov't would of had to step in.

[sumitas]

At least if you award the bid to the NYRA NY won't have to hassle over who owns the properties.

[blackthroatedwind]

Originally Posted by eurobounce

Are you kidding me. Like the gov't is going to have checks and balances--lol. Plus if it was run correctly, then the gov't would of had to step in.

Not sure what you mean. However, if you are suggesting that the government hasn't been overseeing just about everything NYRA has done over the last few years then I can absolutely guarantee you that you are wrong.

Furthermore, if you are suggesting the government moved in simply because NYRA wasn't running racing " correctly " then you are not looking at the situation with an unbiased eye.

[SCUDSBROTHER]

His network(HRTV)is crap.His betting site (that he strongarms people to join) is crap. The track redesign of Gulfstream is crap.You can't play his tracks through TVG(gee, wonder why we despise the guy?)He wants to force a g d shopping center up alongside the tracks.He wants to tear everything up to fit his own f'n eye.You know what? So be it,but you really shouldn't be surprised that he has enemies(he made every single one of them.)Long ago he decided to force people to do things(instead of allowing them to choose to do things.)He is a divider(plain and simple.)Funny how if you throw your weight around,and force people to do things the way you see fit,you are probably going to be despised.Just kind of works out that way. He changed the date of the Florida Derby to satisfy his own selfish needs.You know what ,Big Dog...get your bud to change that back to the traditional date,because it is probably the most disgusting thing he has ever done(or allowed to be done...since he always says he has no part in such decisions.)

[kentuckyrosesinmay]

Hey LBig. Thanks for clarrifying things. I know nothing of this side of the racing world, but I would like to learn. You gave me a valuable bit of information.

And I hope to see First Samuri on the track very soon.