Economy Hits Magna: Stronach Announces Jockey Layoffs

[turfnsport]

Magna CEO Frank Stronach announced in a teleconference held yesterday that the latest cost cutting measure by his beleaguered racetracks and company will include the layoffs of jockeys.

“The economy has adversely affected out bottom line at Magna, and we are forced to make some tough decisions, including the layoffs of all jockeys at our tracks as of Feb. 18,” Stronach said.

Magna Entertainment stock dipped below a $1 a share for the first time in December. According to The Paulick Report, since Stronach took MECA public in 2000, the value of its stock has fallen 99.2%.

Stronach said a meeting was held which included Magna executives, trainers, owners and several disgruntled horseplayers, and it was felt laying off the jockeys was necessary.

‘We plan on finding work for these guys,” Stronach said. “I heard six of the jockeys have found jobs on the Animal Planet. So that’s a good start.”

Rest of story:

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Please feel free to post the complete story here.

[stuball]

:lol: :lol: :lol: :lol:

[rrbauer]

Is it April already?

[Si2see]

too funny hahahaha :lol:

[Greyfox]

Brilliant of Magna. The horses with saddle clothes but no saddles will be loaded into the gates without riders.
They will race around the track chased by a mechanical wolf.
It is cheaper to hire outriders to catch them after they cross the wire than the meeting the jockey demands.

[BlueShoe]

Perhaps we can borrow a procedure from dog racing.Instead of a mechanical rabbit to chase around the track,substitute a mechanical carrot.

[cj's dad]

in a colts race, a filly in heat given a head start or in a filly race a colt with a --------- in the rear chasing.

[BUD]

This would make Henny Youngman Laugh:cool:


I played a great horse yesterday! It took seven horses to beat him.

The horse I bet on was so slow, the jockey kept a diary of the trip.

My horse's jockey was hitting the horse. The horse turns around and says "Why are you hitting me, there is nobody behind us!"

That was the first time I saw a horse start from a kneeling position!

My horse was so late getting home, he tiptoed into the stable.

I don't mind when my horse is left at the post. I don't mind when my horse comes up to me in the stands and asks, "Which way do I go?" But when the horse I bet on is at the $2 window betting on another horse in the same race...

[trying2win]

I've said it before...Frank Stronach is a smart man when it comes to running the auto parts section of MAGNA. However, when it comes to running the horse racing business, he's not very bright in my opinion.

To be fair, Frankie has the albatross of having to deal with the TOC in California. It seems that having to put up with the antics of the TOC is costing Frankie plenty of revenue.

Many distgruntled bettors who demand a rebate for their bets, and are not a member of the million-dollar-a-year or more betting club, are sending bets to offshore racebooks. The California horsemen, racetracks, and quite possibility the Calfiornia state government (I don't know if they get part of the takeout from bets from onshore ADWS...but if they do, they wouldn't get anything either in this scenario). Is the California state government aware of the loss of revenues to the many sectors involved in the horse racing business, because of the devious deeds of the TOC? Governor AHNULD should start leaning heavily on the TOC to open the California major thoroughbred signals to more onshore ADWS in my opinion. Put the heat on Drew Couto, Governor AHNULD. Your state government can definitely use more sources of revenue from the many segments involved in the California thoroughbred business.

Getting back to Frankie. I thought that hooking up with TRACKNET in days gone by, was like going from 'the frying pan into the fire'. Here's my advice Frankie...cancel the TRACKNET contracts soon as you can. In my view, TRACKNET is bad for MAGNA ENTERTAINMENT'S horse racing divisions' bottom line, because of their selfish, restrictive, stingy policies when it comes to racetrack signal distribution. This just alienates more bettors, who want more readily available access to some racetracks via their favorite ADW. I haven't seen any seen any news of MAGNA ENTERTAINMENT'S horse racing sector going into the black ink since they hooked up with TRACKNET.

As for the laying off jockeys, I thought they were independent contractors, and not employees of racetracks, so how can Frankie S lay them off at his tracks? I don't get it. Can someone enlighten me on this topic?

Thanks,

T2W
------------------------------------------------------------------

~"Common sense is the knack of seeing things as they are, and doing things as they ought to be done."

--C.E. Stowe

[trying2win]

I get the picture now. :D

Thanks,

T2W

[PaceAdvantage]

For the 1000th time, PLEASE DON'T REPRODUCE THE FULL TEXT OF COPYRIGHTED MATERIAL HERE. Two or three paragraphs along with a link to the original article is all that is permitted.

Thanks.

[turfnsport]

For the 1000th time, PLEASE DON'T REPRODUCE THE FULL TEXT OF COPYRIGHTED MATERIAL HERE. Two or three paragraphs along with a link to the original article is all that is permitted.

Thanks.

:confused:

That is exactly what I did...then the Mod asked to post the entire article.

Which I did.

Since I wrote the article and own the copyright, did not see the problem.

Won't happen again...thanks to those for the postive feedback though, glad you enjoyed it.

[PaceAdvantage]

:confused:

That is exactly what I did...then the Mod asked to post the entire article.

Which I did.

Since I wrote the article and own the copyright, did not see the problem.

Won't happen again...thanks to those for the postive feedback though, glad you enjoyed it.Oh shit...my mistake. When you have to read through every single post like I do, every so often you miss a subtle yet very important aspect. Like the fact that you were posting the text from your own article/website.

Again, my apologies and my screw up. I hate to ask, but perhaps you could post it again? I understand if you feel like this --> :bang:

[thespaah]

Oh shit...my mistake. When you have to read through every single post like I do, every so often you miss a subtle yet very important aspect. Like the fact that you were posting the text from your own article/website.

Again, my apologies and my screw up. I hate to ask, but perhaps you could post it again? I understand if you feel like this --> :bang:
That is absolutely hilarious!!
And I for one appreciate your humility and your ability to poke a little fun at yourself....Good day to you ,sir.

[SMOO]

I've never understood why each jockey can't ride 2 horses at a time. They have 2 legs.

[NoDayJob]

Heck, get rid of all the jockeys and employ trained chimpanzees or orangutans. I'm sure they'll work for peanuts and bananas. Works for me. :lol: