NYRA Could be Insolvent by 2011

[David-LV]

NYRA keep up the good work. Only time will tell if this is the end for this group of geniuses.


http://www.bloodhorse.com/horse-racing/articles/57862/report-nyra-could-be-insolvent-by-2011?source=rss

_________
David-LV

[Tom]

Hardly NYRA's fault - the state and OTB are the real culprits here.
All NYRA does is put on the best product in the country.

[NTamm1215]

NYRA keep up the good work. Only time will tell if this is the end for this group of geniuses.


http://www.bloodhorse.com/horse-racing/articles/57862/report-nyra-could-be-insolvent-by-2011?source=rss

_________
David-LV

You're right, what idiots they are. How could they possibly have the effrontery to believe that the state government would make good on a 9 yr old promise?

Did you even read the article and are you familiar with some of Mr. DiNapoli's findings? They're really something special, google him. Then please post another thread about Monmouth's handle. Bob Kulina just called and said you and The Knight Sky are slacking off today with no new threads posted.

NT

[David-LV]

Hardly NYRA's fault - the state and OTB are the real culprits here.
All NYRA does is put on the best product in the country.

It use to be the best product, but not anymore.

There use to be a song called 'Where Have All The Flowers Gone'?
I think we can sadly change the name of that song to 'Where Have All The Horses Gone'?

NYRA racing is on life support and right now needs a whole new objective management team that can come up with new ideas and not the same old give me my pay check and blame the other guy game.

I hope they figure it out because it sure was great racing for a very, very, long time.

_________
David-LV

[David-LV]

You're right, what idiots they are. How could they possibly have the effrontery to believe that the state government would make good on a 9 yr old promise?

Did you even read the article and are you familiar with some of Mr. DiNapoli's findings? They're really something special, google him. Then please post another thread about Monmouth's handle. Bob Kulina just called and said you and The Knight Sky are slacking off today with no new threads posted.

NT

Typical New York lover even when there is nothing but more proof every day that goes by that NYRA is not what they advertise.

_________
David-LV

MONMOUTH='A SCORE AT THE SHORE.'

_______
David-LV

[Dahoss9698]

Typical New Yorker.

_______
David-LV

Wrong as usual.

[David-LV]

Wrong as usual.

Sorry, corrected.

_______
David-LV

MONMOUTH='A SCORE AT THE SHORE.'

[NTamm1215]

Typical New York lover even when there is nothing but more proof every day that goes by that NYRA is not what they advertise.

_________
David-LV

MONMOUTH='A SCORE AT THE SHORE.'

_______
David-LV

What exactly does NYRA purport to be?

NT

[Dahoss9698]

Sorry, corrected.

_______
David-LV

MONMOUTH='A SCORE AT THE SHORE.'

Would it be fair to say you are nitpicking? Because when someone in another thread mentioned Monmouth was having problems delivering on what they advertised you questioned them about why they were nitpicking. NYRA isn't advertising anything, but you seem to think they are and are upset they aren't living up to it.

Hypocrisy at it's finest.

[David-LV]

Hypocrisy at it's finest.

Spoken by the king of hypocrisy. :confused:

_______
David-LV

MONMOUTH='A SCORE AT THE SHORE.'

[OTM Al]

NYRA keep up the good work. Only time will tell if this is the end for this group of geniuses.


http://www.bloodhorse.com/horse-racing/articles/57862/report-nyra-could-be-insolvent-by-2011?source=rss

_________
David-LV

Your agenda is crystal clear for all to see. If you read the article, it is acknowledged that they have spent around 27 million over budget in the last 2 years and are owed by the very state that is conducting the probe about 50 million (probably closer to 60 by years end as NYCOTB is shorting them 2 million a month). That means were they being paid AS PROMISED they would be 23 million in the good over the last 2 years. Sounds like they are doing a pretty good job in that respect. But then again, they did create AIDS and foist it on an unsuspecting world....

[David-LV]

Your agenda is crystal clear for all to see

Just the facts the way I read them, Just the facts as Joe Friday use to say.

Being from Brooklyn myself, I also know that everything that happens in New York is far better then anywhere else.

_______
David-LV

[PaceAdvantage]

Just the facts the way I read them,Joe Friday would never include that qualifier.

[David-LV]

Joe Friday would never include that qualifier.

The reason I brought Joe Friday into this was that I have been watching Season 1 of Dragnet today.

You are right PA his famous statement was "Just the facts, ma'am.'
He would have never used that qualifier.

________
David-LV

[Vinman]

Looks like the folks in charge in NY State have once again shot themselves in the foot by imposing conditions to win the AQU Racino bid that are so profoundly unattractive that every single US based gaming company worth its salt that was ever interested in this project, has walked away without looking back. Penn especially was hugely interested and very upset over losing out to Aqueduct Entertainment group in the prior round of "bidding".
Now they're gone, and this time you don't hear them whining about it.

That there is only one company left standing in this "process", a foreign one at that, with little US gaming experience, is utterly laughable....and the joke is on all the NY State parties involved, from the "crack team of simon pure experts of objectivity" at the NY Lottery Commission, to whatever committee came up with the $300,000,000 up front payment condition - NON-REFUNDABLE if a deal doesn't get done after said payment is made.

I'm quite sure that Steve (Racinos aren't really my thing but this IS New York) Wynn would rather poke another hole in that painting of his that he accidentally poked a few years ago, rather than put himself in the position of forfeiting $300,000,000 just because he and the unpredictable NY parties that be couldn't agree a deal....and how many deals like this has Steve successfully done in his career...can we even count 'em?

I would love to hear some of the water cooler banter between the top Vegas honchos over how this Racino bidding process has been "handled". There should be at least several Vegas based giants of the casino industry wresting on the floor to get this gig. Where's Harrah's, Boyd Gaming, anybody? If they're anywhere lurking, they're waiting for NY State to come down off its pedestal and put some reasonable conditions in place.

When and where in the history of the casino gaming industry has a casino company EVER had to front $300,000,000, with no guarantee, for just the "rights" to build a casino?

So now Mr. DiNapoli is rightly tightening the screws on NYRA for not cutting their payroll since they went bankrupt and for generally overspending on various "stuff". I think Mr. Di. is wrong about eliminating the horse vans between the tracks or making the owners pay for it. NYRA needs to provide that service to be competitive, IMHO.

So now having heard Mr. Di's call for NY to "finally get it right" in choosing the AQU Racino operator, with just a single, foreign based player left at the table.....a company that wants to bring in dancing girls and build the mother of all Chinese restaurants I'll bet the NY Lottery guys who bounced Penn Gaming & SI Green want to go out and "drink a little" as the clock starts to tick a bit louder the 25MM NYRA loan. One can almost hear the sound of heads hitting the floor if this "bid of last resort" screws up down the line.

It would not surprise me in the least if it was ultimately decided that this company cannot be licensed and the entire bidding process opened up yet again. You heard it here first. Like Mr. DiNapoli said, they can't afford to get it wrong. Will they bet the farm on a foreign based outfit with little experience in this country?

PS: Just asking.....If NY OTB is unable / unwilling to pay NYRA what it owes them, even in small increments, then why is NY OTB allowed to continue to take in bets on NYRA?? The better question is......why is NY OTB allowed to continue operating AT ALL?? If they shut it down, then there's no need to pay $125,000 a month to "The Fixpert". What's left to fix?

Okay I'm done.....time to begin studying the BRIS pp's for the Friday Monmouth Pick 5.

Vinman

[Headbanger]

Stop and think for a minute when you stop making love to Monmouth about what you are saying...I live in New Jersey and our family has had and will have horses in New Jersey at Monmouth and in PA at Philly in the past and the present time, and we have also run in New York, and let me tell you one thing, what Monmouth has implemented, while a novel idea to try and keep racing around in New Jersey is a flawed system. It's simply giving the same crappy horses more money. The stock and quality of racing hasn't been significantly upgraded. If this were last year these same groups would be running in an NW1X Allowance at Monmouth for 37K on a Saturday with much less handle. The reason the handle I would say has improved as well is that instead of offering crappy racing on Wednesday, Thursday, Friday, and average racing on Saturday and Sunday, it's average racing on Friday, Saturday, and Sunday. As I said, it's not a bad idea, however it's a flawed system, that has to have everything work perfectly in order to be successful. Everywhere you look, places are losing horses, money, stock, etc. Are there certain things NYRA can do differently? Sure there are, but come Saratoga, Monmouth will merely be a blip on the radar screen.

[Cardus]

NYRA keep up the good work. Only time will tell if this is the end for this group of geniuses.


http://www.bloodhorse.com/horse-racing/articles/57862/report-nyra-could-be-insolvent-by-2011?source=rss

_________
David-LV

I agree. NYRA is full of morons.

Take Saratoga, for example: the training track is in Oklahoma! Who at NYRA planned that one?

[JustRalph]

Name me one organization tied to the State of New York that is flush with cash and not on the verge of Bankruptcy ?

It's New York.......a damn mess no matter how you cut it.........

[Tom]

I agree. NYRA is full of morons.

Take Saratoga, for example: the training track is in Oklahoma! Who at NYRA planned that one?

:lol::lol: No wonder I got such a good parking space last year!

[Tom]

Name me one organization tied to the State of New York that is flush with cash and not on the verge of Bankruptcy ?

It's New York.......a damn mess no matter how you cut it.........

Our elected officials.

[Tom]

Your agenda is crystal clear for all to see. If you read the article, it is acknowledged that they have spent around 27 million over budget in the last 2 years and are owed by the very state that is conducting the probe about 50 million (probably closer to 60 by years end as NYCOTB is shorting them 2 million a month). That means were they being paid AS PROMISED they would be 23 million in the good over the last 2 years. Sounds like they are doing a pretty good job in that respect. But then again, they did create AIDS and foist it on an unsuspecting world....

It is like a guy hits 7 races in a row, loses the tickets out of his pocket, so you call him a lousy handicapper. :D

[toussaud]

Looks like the folks in charge in NY State have once again shot themselves in the foot by imposing conditions to win the AQU Racino bid that are so profoundly unattractive that every single US based gaming company worth its salt that was ever interested in this project, has walked away without looking back. Penn especially was hugely interested and very upset over losing out to Aqueduct Entertainment group in the prior round of "bidding".
Now they're gone, and this time you don't hear them whining about it.

That there is only one company left standing in this "process", a foreign one at that, with little US gaming experience, is utterly laughable....and the joke is on all the NY State parties involved, from the "crack team of simon pure experts of objectivity" at the NY Lottery Commission, to whatever committee came up with the $300,000,000 up front payment condition - NON-REFUNDABLE if a deal doesn't get done after said payment is made.

I'm quite sure that Steve (Racinos aren't really my thing but this IS New York) Wynn would rather poke another hole in that painting of his that he accidentally poked a few years ago, rather than put himself in the position of forfeiting $300,000,000 just because he and the unpredictable NY parties that be couldn't agree a deal....and how many deals like this has Steve successfully done in his career...can we even count 'em?

I would love to hear some of the water cooler banter between the top Vegas honchos over how this Racino bidding process has been "handled". There should be at least several Vegas based giants of the casino industry wresting on the floor to get this gig. Where's Harrah's, Boyd Gaming, anybody? If they're anywhere lurking, they're waiting for NY State to come down off its pedestal and put some reasonable conditions in place.

When and where in the history of the casino gaming industry has a casino company EVER had to front $300,000,000, with no guarantee, for just the "rights" to build a casino?

So now Mr. DiNapoli is rightly tightening the screws on NYRA for not cutting their payroll since they went bankrupt and for generally overspending on various "stuff". I think Mr. Di. is wrong about eliminating the horse vans between the tracks or making the owners pay for it. NYRA needs to provide that service to be competitive, IMHO.

So now having heard Mr. Di's call for NY to "finally get it right" in choosing the AQU Racino operator, with just a single, foreign based player left at the table.....a company that wants to bring in dancing girls and build the mother of all Chinese restaurants I'll bet the NY Lottery guys who bounced Penn Gaming & SI Green want to go out and "drink a little" as the clock starts to tick a bit louder the 25MM NYRA loan. One can almost hear the sound of heads hitting the floor if this "bid of last resort" screws up down the line.

It would not surprise me in the least if it was ultimately decided that this company cannot be licensed and the entire bidding process opened up yet again. You heard it here first. Like Mr. DiNapoli said, they can't afford to get it wrong. Will they bet the farm on a foreign based outfit with little experience in this country?

PS: Just asking.....If NY OTB is unable / unwilling to pay NYRA what it owes them, even in small increments, then why is NY OTB allowed to continue to take in bets on NYRA?? The better question is......why is NY OTB allowed to continue operating AT ALL?? If they shut it down, then there's no need to pay $125,000 a month to "The Fixpert". What's left to fix?

Okay I'm done.....time to begin studying the BRIS pp's for the Friday Monmouth Pick 5.

Vinman
great post

[Rico8812]

great post

Agreed. The one thing Vinman missed when talking about the huge $300M payment is who ever wins would be running a casino with the highest tax rate in the country, keeping less than 30% of the net profits, while the rest go to the NY LOttery and "education".

[Bruddah]

Agreed. The one thing Vinman missed when talking about the huge $300M payment is who ever wins would be running a casino with the highest tax rate in the country, keeping less than 30% of the net profits, while the rest go to the NY LOttery and "education".

After Tony and the boys filter the greenbacks, who wins in this situation? It's damn sure not the average tax paying citizen of New York.

[senortout]

It is like a guy hits 7 races in a row, loses the tickets out of his pocket, so you call him a lousy handicapper. :D

No, Tom, thats not the handicapping part of the equation, that is the money management part!

[castaway01]

Stop and think for a minute when you stop making love to Monmouth about what you are saying...I live in New Jersey and our family has had and will have horses in New Jersey at Monmouth and in PA at Philly in the past and the present time, and we have also run in New York, and let me tell you one thing, what Monmouth has implemented, while a novel idea to try and keep racing around in New Jersey is a flawed system. It's simply giving the same crappy horses more money. The stock and quality of racing hasn't been significantly upgraded. If this were last year these same groups would be running in an NW1X Allowance at Monmouth for 37K on a Saturday with much less handle. The reason the handle I would say has improved as well is that instead of offering crappy racing on Wednesday, Thursday, Friday, and average racing on Saturday and Sunday, it's average racing on Friday, Saturday, and Sunday. As I said, it's not a bad idea, however it's a flawed system, that has to have everything work perfectly in order to be successful. Everywhere you look, places are losing horses, money, stock, etc. Are there certain things NYRA can do differently? Sure there are, but come Saratoga, Monmouth will merely be a blip on the radar screen.

The flawed system they tried at Monmouth has boosted handle more than 100%, so perhaps they're on to something (more than I can say for your post).

[toussaud]

Monmouth still has too much racing. 12 races a day is crazy.

[Vinman]

Monmouth still has too much racing. 12 races a day is crazy.

Toussaud...

12 races a day at Monmouth may seem a tad excessive, but its only 3 days, 36 races per week, versus the 6 days, 60+ races a week (mandated by NY statute of course) That Saratoga will be running.

Thanks for the thumbs up on my NY casino bidding/OTB "rant".

Vinman

[OTM Al]

Monmouth still has too much racing. 12 races a day is crazy.

Thing is, if they did cut back it would be at the expense of the open claimers which are the main thing driving business for them. The NJ Bred races can't be touched.

[Dahoss9698]

I posted this in another thread, but it really belongs here. Here is the (ridiculous) report that DiNapoli (up for re-election in the fall) submitted, including NYRA's response.

http://www.osc.state.ny.us/audits/allaudits/093010/09s89.pdf

Here is a blog that pretty much hits it out of the park in regards to this issue.

http://leftatthegate.blogspot.com/2010/07/comptrollers-report-not-worth-paper-its.html

[Cardus]

That blog is a must-read.

[thespaah]

Just the facts the way I read them, Just the facts as Joe Friday use to say.

Being from Brooklyn myself, I also know that everything that happens in New York is far better then anywhere else.

_______
David-LVJust the facts as you read them
That would indicate an interpretation. An opinion.

[Kimsus]

I posted this in another thread, but it really belongs here. Here is the (ridiculous) report that DiNapoli (up for re-election in the fall) submitted, including NYRA's response.

http://www.osc.state.ny.us/audits/allaudits/093010/09s89.pdf

Here is a blog that pretty much hits it out of the park in regards to this issue.

http://leftatthegate.blogspot.com/2010/07/comptrollers-report-not-worth-paper-its.html

VLT's are only part of the story, I actually took the time to read the Blog, the bloodhorse report: http://www.bloodhorse.com/horse-racing/articles/57862/report-nyra-could-be-insolvent-by-2011 besides the Audit report as well as a NY news article http://www.nydailynews.com/blogs/dailypolitics/2010/07/tom-dinapolis-tracking-the-new.html
There is alot of information here, from what I can gather thus far the absence of VLT's tells only one part of this story, allowing salaries to balloon out of control is a problem also --"Since emerging from bankruptcy, NYRA’s overall payroll costs increased by $1.9 million to $69.2 million, in addition a slow to react to cost management are issues that were prevalent. As I said there is a lot of information to go through here. They seem to be headed in the right direction now. Ie. cutting costs like closing the Aqueduct training track but there seemed to be plenty of mistakes that were made to get them to this point.

[Dahoss9698]

VLT's are only part of the story, I actually took the time to read the Blog, the bloodhorse report: http://www.bloodhorse.com/horse-racing/articles/57862/report-nyra-could-be-insolvent-by-2011 besides the Audit report as well as a NY news article http://www.nydailynews.com/blogs/dailypolitics/2010/07/tom-dinapolis-tracking-the-new.html
There is alot of information here, from what I can gather thus far the absence of VLT's tells only one part of this story, allowing salaries to balloon out of control is a problem also --"Since emerging from bankruptcy, NYRA’s overall payroll costs increased by $1.9 million to $69.2 million, in addition a slow to react to cost management are issues that were prevalent. As I said there is a lot of information to go through here. They seem to be headed in the right direction now. Ie. cutting costs like closing the Aqueduct training track but there seemed to be plenty of mistakes that were made to get them to this point.

The absence of VLT's and the fact that OTB hasn't paid them the tens of millions of dollars they owe them is the BIGGEST part of the story. Salaries haven't ballooned out of control. Frankly, it's one of the biggest misconceptions out there and the fact that most people reporting on it don't take the time to actually look into it is embarrassing.

Don't get me wrong, there have been mistakes. I'm not denying that. But when you look at the big picture, it's hard not to see that what they have been able to do is pretty good considering the situation.

Think about this, OTB owes NYRA in excess of $20 million. There was just a report that the newest OTB President is going to be earning a monthly salary of $125,000. That's $1.5 million a year. Where was the outrage?

Or how about this quote. Robert Garry, OTB's chief financial officer, said in a filing with the court on July 12 that the decision to delay the payments has allowed OTB "to manage its cash flows, maintain operations, pay all current operating expenses and generate handle for current and future distribution to the racetracks."
Imagine that. So if you don't pay your debts you have more money to spend on other things. That's like saying you'd have more money to gamble if you just decided to "delay" (avoid) paying your mortgage.

[thespaah]

That's an average of $49,000 per employee based on the media reported 1,400 employees.
The Comptroller's report indicates a compliment of "over 1,200 employees.
That avergaes out to an avg salary of $57,000.
That's a pretty decent chunk of change.
Now, the top NYRA brass salaries start at around $250k topping out around $440k per year.
To put that into perspective, the former CEO of this region's Untied Way was paid $350k per year plus a $50k expense account. She also had a $2 million pre arranged pension. When the media reported that information, the CEO was run out on a rail....The tie-in here is the Untied Way is also a Non Profit Organization....
Time for the people of NY to make heads roll in Albany.

[Vinman]

That's an average of $49,000 per employee based on the media reported 1,400 employees.
The Comptroller's report indicates a compliment of "over 1,200 employees.
That avergaes out to an avg salary of $57,000.
That's a pretty decent chunk of change.
Now, the top NYRA brass salaries start at around $250k topping out around $440k per year.
To put that into perspective, the former CEO of this region's Untied Way was paid $350k per year plus a $50k expense account. She also had a $2 million pre arranged pension. When the media reported that information, the CEO was run out on a rail....The tie-in here is the Untied Way is also a Non Profit Organization....
Time for the people of NY to make heads roll in Albany.

Ahhh yesss.....and shall we add Mr. Pedro Espada to the list of Albanyites consigned to the dust bin. Does anyone have a bigger "set" than this guy?? He simply won't go away. Then again, if he can continue "business as usual" for himself, why should he?

Vinman

[Dahoss9698]

That's an average of $49,000 per employee based on the media reported 1,400 employees.
The Comptroller's report indicates a compliment of "over 1,200 employees.
That avergaes out to an avg salary of $57,000.
That's a pretty decent chunk of change.
Now, the top NYRA brass salaries start at around $250k topping out around $440k per year.
To put that into perspective, the former CEO of this region's Untied Way was paid $350k per year plus a $50k expense account. She also had a $2 million pre arranged pension. When the media reported that information, the CEO was run out on a rail....The tie-in here is the Untied Way is also a Non Profit Organization....
Time for the people of NY to make heads roll in Albany.

How about the OTB stuff? They owe NYRA over $20 million, just hired a guy at $1.5 million and you are criticizing salaries at NYRA? Really? How far does $57,000 a year go in NYC? Not very.

[thespaah]

How about the OTB stuff? They owe NYRA over $20 million, just hired a guy at $1.5 million and you are criticizing salaries at NYRA? Really? How far does $57,000 a year go in NYC? Not very.
I am not crticizing. Did you bother to read the whole post? And who the hell is discussing OTB anyway? If you want to discuss OTB start an OTB thread. I will kill them.
My focus was on the top brass.
As far as your livable wage in NYC argument goes, what is an appropriate salary for custodians, grounds keepers, assistant starters, valets and other low to mid level positions? Would you consider $100k per year or more to be an appropriate wage? If so , where does the money come from? The sky? No, it comes from the consumer.
Look, indentured servitude was around when those little ships hit the coast in what became Jamestown.
Jobs pay what they pay. If what one makes is not enough to live adesried standard of living, that person is free to move to other more lucrative employment.
Now, if you were to pose that salary question to those who live in about 90% of the country, the reaction would be, "Quit whining. That's a ton of money to me."

[Dahoss9698]

I am not crticizing. Did you bother to read the whole post? And who the hell is discussing OTB anyway? If you want to discuss OTB start an OTB thread. I will kill them.
My focus was on the top brass.
As far as your livable wage in NYC argument goes, what is an appropriate salary for custodians, grounds keepers, assistant starters, valets and other low to mid level positions? Would you consider $100k per year or more to be an appropriate wage? If so , where does the money come from? The sky? No, it comes from the consumer.
Look, indentured servitude was around when those little ships hit the coast in what became Jamestown.
Jobs pay what they pay. If what one makes is not enough to live adesried standard of living, that person is free to move to other more lucrative employment.
Now, if you were to pose that salary question to those who live in about 90% of the country, the reaction would be, "Quit whining. That's a ton of money to me."

This is quite a post. You are the one that brought up the average salary. Are you familiar with what the term average means? Of course not everyone is earning $57,000 a year. Which means custodians, etc are earning far less.

I'm not sure why it matters anyway. But do you live under a rock? $57,000 a year is a ton of money in areas where housing is dirt cheap. Studio apartments in NYC cost more than a lot of mortgages. The cost of living is so high, which in turn makes average salaries higher. I didn't realize this still needed to be explained to people. I love the "If what one makes is not enough to live adesried standard of living, that person is free to move to other more lucrative employment" line. Classy.

I'm not sure what your post has to do with anything. What is your point? If you are saying you think people at NYRA make too much, isn't that a criticism?

[thespaah]

This is quite a post. You are the one that brought up the average salary. Are you familiar with what the term average means? Of course not everyone is earning $57,000 a year. Which means custodians, etc are earning far less.

I'm not sure why it matters anyway. But do you live under a rock? $57,000 a year is a ton of money in areas where housing is dirt cheap. Studio apartments in NYC cost more than a lot of mortgages. The cost of living is so high, which in turn makes average salaries higher. I didn't realize this still needed to be explained to people. I love the "If what one makes is not enough to live adesried standard of living, that person is free to move to other more lucrative employment" line. Classy.

I'm not sure what your post has to do with anything. What is your point? If you are saying you think people at NYRA make too much, isn't that a criticism?
Your argument about NYC and salaries is pointless without answering the question of what you believe to be an approiate wage for low and mid level semi skilled or unskilled postions.
You can gripe about money. You can blow the pro union bugle. You can spew class envy. If you don't want to deal with the realities of what is and is not an appropriate wage for the aformentioned positions, you are spouting air.
No I tuened my hunk of sandstone a long time ago. I know it's expensive to live in the NY Metro area. I spent the first 30 years of my life there and I have not lost touch either.
The bottom line is while the average wage is what it is , the lower rungs of the payroll often fall below that average. Immaterial for purposes of this discussion.
My point here is IMO the salaries for the top NYRA brass are inappropriate for a non profit. I used the United Way CEO story for comparison.
ONe more thing. We all have choices. We can choose employment that pays a low wage. Or as long as we have the necessary skills or abilites, we can choose another that pays better. In any event that is real. It is fact.. It is what it is.

[Dahoss9698]

My point here is IMO the salaries for the top NYRA brass are inappropriate for a non profit. I used the United Way CEO story for comparison.


So you were criticizing right?

I'm not going to get into the political stuff, because this isn't the right place for it. Besides, you appear to have no idea what the term "average" means. What do you feel is the appropriate salary for the top brass at NYRA?

[thespaah]

This is quite a post. You are the one that brought up the average salary. Are you familiar with what the term average means? Of course not everyone is earning $57,000 a year. Which means custodians, etc are earning far less.

I'm not sure why it matters anyway. But do you live under a rock? $57,000 a year is a ton of money in areas where housing is dirt cheap. Studio apartments in NYC cost more than a lot of mortgages. The cost of living is so high, which in turn makes average salaries higher. I didn't realize this still needed to be explained to people. I love the "If what one makes is not enough to live adesried standard of living, that person is free to move to other more lucrative employment" line. Classy.

I'm not sure what your post has to do with anything. What is your point? If you are saying you think people at NYRA make too much, isn't that a criticism?
BTW , what is "dirt cheap"?.....Compared to say Westbury or Paramus, everythig is cheap...Heck I just saw an ad in the Bergen Record for a 1,400 SF ranch in Hillsdale, full unfinished basement, no garage, 3 BR , One bath for $399,000!!!!! WHere I live , a house like that would go for maybe $130,000..Yep houses here in the South Central region of NC go for about 70- 100 bucks a square foot.

[thespaah]

So you were criticizing right?

I'm not going to get into the political stuff, because this isn't the right place for it. Besides, you appear to have no idea what the term "average" means. What do you feel is the appropriate salary for the top brass at NYRA?Oy vay...
I just got through explaining all that.

I think an the level of compensation for a non-profit executive should be much lower than that of a for profit. On the order of 50% less.
IMO a position for a non-profit is one of service, not as a career. In other words, the person serves then leaves. This controls compensation.

[Cardus]

Oy vay...
I just got through explaining all that.

I think an the level of compensation for a non-profit executive should be much lower than that of a for profit. On the order of 50% less.
IMO a position for a non-profit is one of service, not as a career. In other words, the person serves then leaves. This controls compensation.

How did you arrive at 50% less?

And it appears as though you have never seen the salaries of CEOs of some of our largest and best known charities.

They work tremendously to bring in donations and are compensated accordingly.

[Dahoss9698]

Oy vay...
I just got through explaining all that.

I think an the level of compensation for a non-profit executive should be much lower than that of a for profit. On the order of 50% less.
IMO a position for a non-profit is one of service, not as a career. In other words, the person serves then leaves. This controls compensation.

FWIW, comparing the United Way to NYRA is asinine. This is fun and all, but we're getting away from the topic, which right now is an important one.

[thespaah]

How did you arrive at 50% less?

And it appears as though you have never seen the salaries of CEOs of some of our largest and best known charities.

They work tremendously to bring in donations and are compensated accordingly.
It is more a matter of appearance than anything. Did you see my comparison re: the Untied Way CEO?.....Her compensation was viewed as obscene by many. The public pressure was so intense, the UW thought it appropriate to terminate her employment so as to quell public outrage.
Quite frankly the people who are behind the scenes do the yeoman's work in bringing in donations. Those are the heros. Not the people in the board rooms.
IMO I find in many companies across all lines of industry spend entirely too much revenue on administration and not enough on production.
One has to look no further than government to see that.
I am a realist. In my world one's compensation should be tied to the amount of revenue they produce. This is called value.

[thespaah]

FWIW, comparing the United Way to NYRA is asinine. This is fun and all, but we're getting away from the topic, which right now is an important one.How so? BOth are noin profit. Both raise revenue from donations. Think about it. When a person makes a wager, a portion of that amount is taken (take out) to fund the operation. One is a charity middle man. The other is a funding vessel to operate the business.
Yes, it's semantics, but there is a valid comparsion.
Assinine? I'll ask you nicely this one time to not make this personal.

[Dahoss9698]

How so? BOth are noin profit. Both raise revenue from donations. Think about it. When a person makes a wager, a portion of that amount is taken (take out) to fund the operation. One is a charity middle man. The other is a funding vessel to operate the business.
Yes, it's semantics, but there is a valid comparsion.
Assinine? I'll ask you nicely this one time to not make this personal.

Personal? Because I said a comparison (and a bad one at that) is asinine? I should have listened to the person who told me not to waste my time discussing anything with you.

[Stillriledup]

How so? BOth are noin profit. Both raise revenue from donations. Think about it. When a person makes a wager, a portion of that amount is taken (take out) to fund the operation. One is a charity middle man. The other is a funding vessel to operate the business.
Yes, it's semantics, but there is a valid comparsion.
Assinine? I'll ask you nicely this one time to not make this personal.

He knows all the best crossdresser and tranny sites, don't get on his bad side or he won't give you the links.

[Headbanger]

The flawed system they tried at Monmouth has boosted handle more than 100%, so perhaps they're on to something (more than I can say for your post).

It doesn't matter how much they boost handle if the intake isn't enough to make up for the expenditures that they are having to put out, which is going to be a major problem. Why, because in the grand scheme of things, bettors are always going to flock towards NY racing to bet over Monmouth. It's as I said, I really have had no more interest this year as a bettor in betting Monmouth than I did in the past because quite frankly it's the same sh!tty horses that ran there last year for the most part, just for juiced up purses. I can't put it any better than Dahoss did by saying it's putting a band-aid on a bleeding wound and expecting it to stop the bleeding. I guess they are on to something when it comes to losing money, because right now someone needs to come up with an idea to keep them from losing money because whatever the handle may be now, just wait till Saratoga opens...then we'll see what Monmouth handles, and when they start losing the handle they have had because admittedly Belmont has had a really crappy Spring/Summer meet in terms of quality, so naturally they have had to benefit some from it. But once Saratoga opens and Del Mar opens, as I said, Monmouth will become little more than a blip on the radar screen come bettors. It's not like were seeing superstars at Monmouth. We're just seeing Kelly Breen trained 2YOs for the Hall's run for 75K instead of 37K, whoopdie fricken doo. If you can't see this or understand the reality of the situation, then I can't help you figure it out. From being involved in the game, this is going to be tough to maintain for Monmouth and it's going to be a challenge to do so again.

[Dahoss9698]

He knows all the best crossdresser and tranny sites, don't get on his bad side or he won't give you the links.

Hmm...

but i know i am respected as a person because i don't attack posters relentlessly

I'm a likeable fellow and I get along very well with most of the posters here, I'd like to keep it that way.


Such an innocent victim.

[thespaah]

He knows all the best crossdresser and tranny sites, don't get on his bad side or he won't give you the links.
Oh well.

[thespaah]

Yeah Personal...
PIcture this. You and I are complete strangers sitting in a bar and the same discussion, you get huffy and say the same thing. Guess what? You wouldn't like the reaction. That's personal.
It's fine to argue and disagree.
It seems I am not the only one on here that finds you objectionable. You are dismissing me? Please.
We're done. You may now have the last word and then put me on ignore. Please?

[Dahoss9698]

Yeah Personal...
PIcture this. You and I are complete strangers sitting in a bar and the same discussion, you get huffy and say the same thing. Guess what? You wouldn't like the reaction. That's personal.
It's fine to argue and disagree.
It seems I am not the only one on here that finds you objectionable. You are dismissing me? Please.
We're done. You may now have the last word and then put me on ignore. Please?

So saying a comparison is asinine is personal? Who got huffy? Your picture is funny. Am I supposed to be afraid of that? Internet tough guys are the best.

[thespaah]

"So saying a comparison is asinine is personal? Who got huffy? Your picture is funny. Am I supposed to be afraid of that? Internet tough guys are the best."

I win!!!