Should NYRA Rewards account be emptied???

[Light]

Originally Posted by PaceAdvantage

Has nothing to do with a bailout.

Nyra is running out of funds to continue operations. Yes its partially due to not getting paid money owed them but that doesn't help their predicament right now. That's why gov. Patterson introduced a bill for the state to lend Nyra around $20 million. In my language and the NY state bill, it's called a bailout.

[slewis]

Originally Posted by PaceAdvantage

It has nothing to do with bailing out, and everything to do with money owed.

An agreement is in place for NY State to pay NYRA should NY State fail to get the VLTs up and running by a certain date. They are not paying NYRA, and neither is NYCOTB...

Has nothing to do with a bailout.

This is just the line of thinking that Haywood and Handel use. Dumb.

Where's the money coming from PA?? Should we lay off 1000 state troopers?

How's about we stop fixing roads so we can have $80,000 maiden races.

The sooner NYRA understands what's at stake here, and that they are NOT the bosses of Albany..the better we'll all be.


Have you (or others) wondered why NYRA and their high priced attorneys haven't filed suit to get the money they are "owed" yet?
(You know they're very good at threats and using the legal system to get their way).
I would LOVE to see them file suit in State court over the wording in the Franchise agreement....and demanding the NYCOTB money since the state took over the operation.

Dont worry...it wont happen.

Know what's funny though? I haven't seen ANY change in the day to day operational success at the track since NYRA laid off all those employees recently. Actually, things are pretty good at the track each day.

Know what that means PA? All those people that were let go were really not necessary. Now if the Bd of Directors bother to look a little higher up the ladder, they can find the REAL dead wood and clean house.

[Tom]

As a taxpayer, I say let NYRA and Governor Davey find the money somewhere else. Not a penny to of tax money.
Go milk OTB, not me.

Stupid idea.

[Tom]

I

f a racing association like NYRA isn't willing to provide 10 minutes of data entry a day to key early scratches and changes into a system designed by its own customers, a system designed to facilitate customer dollars being wagered on the racing association's own product... then by its own actions... or lack of action...

What is the racing association really telling the customer?

It is telling me to go play tacks that participate and show some respect for us. I refuse to have to go looking for scratches. Too many other tracks out there to bother playing hide and seek with one of them.

The times they are a changing.

[the little guy]

Originally Posted by Jeff P

With all due respect Andy, this isn't about MY version of how the changes make it to the Equibase site.

The truth is Equibase has been asking NYRA management to participate in the program (meaning data entry for early scratches only) since last October... and yet NYRA management keeps refusing.

Ideas and input from players and HANA members were considered during the design phase of the project and many of our ideas now appear in the finished product. We're pretty damn proud of the Equibase scratches and changes system because it represents an improvement for players everywhere over what was. Equibase really went to bat for the player here.

NYRA's refusal to participate is just one example (among many) of why this industry finds itself in the shape it's in.

Racing is no different from any other business in that it's driven by customer dollars.

If a racing association like NYRA isn't willing to provide 10 minutes of data entry a day to key early scratches and changes into a system designed by its own customers, a system designed to facilitate customer dollars being wagered on the racing association's own product... then by its own actions... or lack of action...

What is the racing association really telling the customer?


-jp

.

Jeff, it appears to me that you are allowing your personal involvement in this situation to obfuscate the fact that you misrepresented the fact that NYRA's scratches are on the Equibase site despite your initial claims to the contrary.

[Jeff P]

Jeff, it appears to me that you are allowing your personal involvement in this situation to obfuscate the fact that you misrepresented the fact that NYRA's scratches are on the Equibase site despite your initial claims to the contrary.

Excuse me?

Please tell me in plain English... as if I were a three year old... exactly what you think I have misrepresented in this thread.



-jp

.

[the little guy]

Originally Posted by Jeff P

Excuse me?

Please tell me in plain English... as if I were a three year old... exactly what you think I have misrepresented in this thread.



-jp

.

With this post.....

Originally Posted by Jeff P

This state of affairs really IS a shame.

But I'm not at all surprised.

Last October Equibase released their Scratches and Changes Today system. The purpose of the new system was to create a single place on the web where players could go to get accurate scratches and changes in real time. The "real time" element comes from having Equibase's chart callers key in new scratches and changes as they are announced by the track announcer over the track's public address system.

With two notable exceptions, this program has been a success - scratches and changes have been consistently delivered in accordance with system design.

Anyone care to guess the name of the most recognizeable racing association that decided not to participate in the program?

NYRA.

One of the requirements for making the system work is having somebody at the track level perform 10 minutes of data entry each day to key the early scratches and changes into the system so that they can appear at Equibase.com. Use of the system is free. To participate, the only thing a track has to do is provide somebody at the track level to do 10 minutes of data entry each day. Equibase will even train the track employee... again, at no cost to the track.

Since the system's inception last October NYRA has steadfastly refused to have somebody at the track level key early scratches and changes into the system.

NYRA's decision to be the only racing association to purposely NOT participate in the Equibase program speaks volumes.

Sadly I'm not at all surprised NYRA finds itself mired in the middle of this mess.


-jp

.

I guess I misunderstood, but after reading this I was surprised to find NYRA's scratches on the Equibase site. Isn't having racetrack's scratches on the site the desired result?

[Jeff P]

I can see where you are coming from. Please know that it wasn't my intention to mislead anyone.

You wrote: I guess I misunderstood, but after reading this I was surprised to find NYRA's scratches on the Equibase site. Isn't having racetrack's scratches on the site the desired result?

My reply: Sure we want the changes to appear on the Equibase site - and as early each day as (humanely) possible.

But the core issue goes much deeper than that. NYRA's refusal to do data entry isn't the problem. It's a symptom indicating real problems that are prevelant throughout the industry.

I've said this before and I'll say it again.

Every successful Fortune 500 company is successful for a reason. The successful companies are successful because they do market research to determine who their target customer is. They discover what their target customer's needs and wants are. Then they make it their mission to satisfy those needs and wants. Every failed company that you can name failed to do that to some degree along the line.

Racing is no different than any other business in that its dollars come from customers.

What we really want (the desired result) is for racing as an industry to wake up and start behaving like Fortune 500 companies when it comes to customer needs and wants.

If that were to happen I really believe racing's ship would manage it right itself and in short order.



-jp

.

[PaceAdvantage]

Back to the original thread...I believe I called it when I said there was no way in hell NYCOTB was going to close its doors when they threatened to go out of business...and I was right. I said they wouldn't close their doors whether or NOT they got any money from the state, and I was right.

Same thing goes for NYRA. Although, I'm fairly certain the NYRA doesn't have as many potential cost-cutting measures in their favor as NYCOTB has, despite what slewis would like to have us believe.

Thus I believe the NYRA will be getting enough money to keep them going, whether it be from NY State or NYCOTB or a combination of the two...

Some folks like to talk about how politically unpopular it would be for the state of NY to give the money to the NYRA that is OWED to the NYRA. slewis would have you believe that by doing so, 1000 state troopers might have to be put out of a job....utter nonsense...

The simple fact remains that the state of New York stands to continue making a steady stream of money in the form of TAKEOUT and FEES from every dollar you and I put through the windows. Does anyone honestly believe a mere $17M is enough to stop this cash cow? You're telling me nobody can come up with enough money to keep that gravy train a rollin'?

Please...spare me...

Does any of us honestly believe NY State is going to cut off its nose to spite its face? Has everyone forgotten all the money sent to Albany by way of the pari-mutuel windows downstate? This is a no-brainer if you ask me. How it's gotten this far is laughable.

I looked at the numbers. In 2008 (the last year figs are available), NYRA ITSELF paid over $8M to NY State in the form of pari-mutuel taxes and fees just on the money wagered ON TRACK. New York State then received FORTY ONE MILLION DOLLARS from the money wagered on just NYRA races at all of the OTBs in the state combined (from a total NYRA-only OTB handle of around $557M).

It will take the state a mere four months (approx) to make back the 17M it owes the NYRA going by the above figures...it would be political suicide NOT to give the NYRA the money it needs and is in fact OWED. Let the politicians explain how they flushed almost FIFTY MILLION DOLLARS in tax revenue DOWN THE DRAIN. Yeah right. As if they EVER have any intention of doing such a thing. Tax revenue is what they live for.

Bottom line?

Your money is safe in a NYRA Rewards account, if only because of the simple fact that they will not be shutting down...they're worth way too much to the State of New York.

[Dahoss9698]

Originally Posted by PaceAdvantage

Back to the original thread...I believe I called it when I said there was no way in hell NYCOTB was going to close its doors when they threatened to go out of business...and I was right. I said they wouldn't close their doors whether or NOT they got any money from the state, and I was right.

Same thing goes for NYRA. Although, I'm fairly certain the NYRA doesn't have as many potential cost-cutting measures in their favor as NYCOTB has, despite what slewis would like to have us believe.

Thus I believe the NYRA will be getting enough money to keep them going, whether it be from NY State or NYCOTB or a combination of the two...

Some folks like to talk about how politically unpopular it would be for the state of NY to give the money to the NYRA that is OWED to the NYRA. slewis would have you believe that by doing so, 1000 state troopers might have to be put out of a job....utter nonsense...

The simple fact remains that the state of New York stands to continue making a steady stream of money in the form of TAKEOUT and FEES from every dollar you and I put through the windows. Does anyone honestly believe a mere $17M is enough to stop this cash cow? You're telling me nobody can come up with enough money to keep that gravy train a rollin'?

Please...spare me...

Does any of us honestly believe NY State is going to cut off its nose to spite its face? Has everyone forgotten all the money sent to Albany by way of the pari-mutuel windows downstate? This is a no-brainer if you ask me. How it's gotten this far is laughable.

I looked at the numbers. In 2008 (the last year figs are available), NYRA ITSELF paid over $8M to NY State in the form of pari-mutuel taxes and fees just on the money wagered ON TRACK. New York State then received FORTY ONE MILLION DOLLARS from the money wagered on just NYRA races at all of the OTBs in the state combined (from a total NYRA-only OTB handle of around $557M).

It will take the state a mere four months (approx) to make back the 17M it owes the NYRA going by the above figures...it would be political suicide NOT to give the NYRA the money it needs and is in fact OWED. Let the politicians explain how they flushed almost FIFTY MILLION DOLLARS in tax revenue DOWN THE DRAIN. Yeah right. As if they EVER have any intention of doing such a thing. Tax revenue is what they live for.

Bottom line?

Your money is safe in a NYRA Rewards account, if only because of the simple fact that they will not be shutting down...they're worth way too much to the State of New York.

Great post....

[slewis]

Originally Posted by PaceAdvantage

Back to the original thread...I believe I called it when I said there was no way in hell NYCOTB was going to close its doors when they threatened to go out of business...and I was right. I said they wouldn't close their doors whether or NOT they got any money from the state, and I was right.

Same thing goes for NYRA. Although, I'm fairly certain the NYRA doesn't have as many potential cost-cutting measures in their favor as NYCOTB has, despite what slewis would like to have us believe.

Thus I believe the NYRA will be getting enough money to keep them going, whether it be from NY State or NYCOTB or a combination of the two...

Some folks like to talk about how politically unpopular it would be for the state of NY to give the money to the NYRA that is OWED to the NYRA. slewis would have you believe that by doing so, 1000 state troopers might have to be put out of a job....utter nonsense...

The simple fact remains that the state of New York stands to continue making a steady stream of money in the form of TAKEOUT and FEES from every dollar you and I put through the windows. Does anyone honestly believe a mere $17M is enough to stop this cash cow? You're telling me nobody can come up with enough money to keep that gravy train a rollin'?

Please...spare me...

Does any of us honestly believe NY State is going to cut off its nose to spite its face? Has everyone forgotten all the money sent to Albany by way of the pari-mutuel windows downstate? This is a no-brainer if you ask me. How it's gotten this far is laughable.

I looked at the numbers. In 2008 (the last year figs are available), NYRA ITSELF paid over $8M to NY State in the form of pari-mutuel taxes and fees just on the money wagered ON TRACK. New York State then received FORTY ONE MILLION DOLLARS from the money wagered on just NYRA races at all of the OTBs in the state combined (from a total NYRA-only OTB handle of around $557M).

It will take the state a mere four months (approx) to make back the 17M it owes the NYRA going by the above figures...it would be political suicide NOT to give the NYRA the money it needs and is in fact OWED. Let the politicians explain how they flushed almost FIFTY MILLION DOLLARS in tax revenue DOWN THE DRAIN. Yeah right. As if they EVER have any intention of doing such a thing. Tax revenue is what they live for.

Bottom line?

Your money is safe in a NYRA Rewards account, if only because of the simple fact that they will not be shutting down...they're worth way too much to the State of New York.

PA,

I specifically stated in my post "Dont worry, it's not going to happen". in the context of :

A) NYRA's lawyers are not going to court for "owed" money (they would have already filed).

B) the short term issue would be resolved.

I should have made my point more precise. The point you make is precisely what I was suggesting. I could be wrong because I'm not privy to any kind of negotiations or discussions between NYRA and the state, but my bet is that the state warned NYRA that any legal action this time will piss so many politicos off that it WILL be the end. Im sure they told them to sit tight until details are worked out.

[SansuiSC]

Originally Posted by PaceAdvantage

Bottom line?

Your money is safe in a NYRA Rewards account, if only because of the simple fact that they will not be shutting down...they're worth way too much to the State of New York.

PA,

Thanks for bringing this back on topic. That said the money is probably safe in the NYRA One/Rewards account however to the customer it's a CYA situation.

This is a bad chess game between state and NYRA. Yes it is a cash cow for the state and would be foolish to let NYRA close the doors and it's unfortunate that these press releases and employee notices are moves in this chess game. I believe you live here in NY so you know what a shambles the politics are and the current state of the State.

Even if NYRA shuts the doors after the Belmont Stakes and doesn't open until tha Spa meet just to make a statement, why leave thousands of my dollars tied up with them with no definitive statement as to access to said funds. I'd rather leave a couple of hundred and have the cash to use with another ADW. It's just a matter of CYA at this point because we really have no idea what goes on behind doors on both sides.

This is why I started this topic. It's about the customer and their funds in the hands of NYRA who threatens to close.

[Tom]

OTB owes NYRA money.
No-brainer...FORCE them to pay up.

[rrbauer]

Originally Posted by Tom

OTB owes NYRA money.
No-brainer...FORCE them to pay up.

They no got!

[Stillriledup]

Originally Posted by SansuiSC

PA,

Thanks for bringing this back on topic. That said the money is probably safe in the NYRA One/Rewards account however to the customer it's a CYA situation.

This is a bad chess game between state and NYRA. Yes it is a cash cow for the state and would be foolish to let NYRA close the doors and it's unfortunate that these press releases and employee notices are moves in this chess game. I believe you live here in NY so you know what a shambles the politics are and the current state of the State.

Even if NYRA shuts the doors after the Belmont Stakes and doesn't open until tha Spa meet just to make a statement, why leave thousands of my dollars tied up with them with no definitive statement as to access to said funds. I'd rather leave a couple of hundred and have the cash to use with another ADW. It's just a matter of CYA at this point because we really have no idea what goes on behind doors on both sides.

This is why I started this topic. It's about the customer and their funds in the hands of NYRA who threatens to close.

Nothing good can come out of leaving a large amount of funds in their account. Its not like its a money market fund getting 5% interest. The money is better off under the mattress until the smoke clears. I wouldnt trust these people as far as i can throw them.