Quote:
Originally Posted by Denny
Isn't TSG's business model to eliminate the competition and consolidate operations.
See, SoCal, NoCal, SoFla, Md.
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Sure, but what corporation's business model
doesn't include consolidating operations and minimizing competition in order to maximize profit? That's capitalism 101.
The idea that GGF should continue operating at a loss to help subsidize the rest of Northern California is ridiculous. They've already been doing that for years, no one at the CHRB or any other acronym gave a shit about fixing the broken model, and now TSG is saying enough is enough.
Now guys like Avioli and Baedeker are saying "let's just keep going with the model we have, and then we'll figure out a way to make it work for everyone", but that's bullshit. People have been talking about this issue since at least 2010 (
Source), and nothing has been done. These bureaucrats have, and will continue, to kick this can down the road for as long as they're able to.
Personally I applaud Ritvo for finally drawing a line in the sand. If the whole thing blows up and NorCal racing goes under, I'm blaming the entities that had decades to address this, and neglected their responsibilities....not the guy who's just trying to run a business.
EDIT: More from the article I linked (2010):
Quote:
Jack Liebau, president of Hollywood Park, said both SCOTWINC and the Northern California off-track wagering system, NCOTWINC, "have problems as far as solvency is concerned."
The situation in the north isn't much better. A NCOTWINC report estimated its deficit at $2.7 million from 2005 to 2009, an amount that has been carried so far by Golden Gate Fields.
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That's the same Lieabau who is now spearheading a lawsuit against the CHRB, arguing that GGF shouldn't be allowed to race without utilizing an OTB network that he admitted is insolvent.
