NYRA

[PaceAdvantage]

Originally Posted by classhandicapper

It was 14 million, but apparently no one that knows where it went is telling anyone. The "assumption" is NYRA because they were the largest creditor, but that is not necessarily true. All that the OTB union knows for certain is that it did not get a penny (the union was also also a creditor). The union wanted to use any money owed to it that it could recover (its percentage of the 14M) to help support OTB retirees that lost their health care coverage at the time of closure because they were in dire need of help and unemployable. That is still the case. But the 14 million is in someone else's pocket.

That's not what I have read. What is the source for your $14M number?

There was an interview with Hayward in August where he says they got $8M, not $14M.

http://www.elmont.org/news-mainmenu-...rs-storms.html

A: It's a lot better than it was a year ago. On Dec. 7, 2010, New York City OTB closed down. They owed us $28 million. Fortunately we got $8 million of that, but we took a write-off of $20 million, which resulted in a significant loss last year. They were 11 percent of our net revenue. So we were worried, but we did a number of different things -- we bused people out to Aqueduct; opened up Belmont Cafe, that's now going to be the biggest simulcasting facility in the state; Aqueduct's operating now for the first time while we're here at Saratoga. We've been able to regroup and retain about 35 percent of that business. On the revenue side, that's almost enough to get us about to break even.

[PaceAdvantage]

Originally Posted by Canarsie

If ANYONE wants to attack me for posting an editorial from a Rupert Murdoch owned company bring it on. You know the same guy who owns Fox News.

I'm not agreeing with all of the editorial but lets be fair here. In reality I do expect some name calling directed my way. But I'm a big boy and can handle it. I'm not going to rubber stamp anything that I feel poses integrity issues.

What the hell does Murdoch or Fox News have to do with any of this?

Expect some name calling? WTF?

I'm about to shut this thread down...so F-ing ridiculous around here whenever the subject is NYRA, Beyer or anything else I happen to like...

[igiveupregistering]

Originally Posted by thaskalos

The NYRA is not a sacred institution...it is just a corporation; and as such, it deserves to be criticized...especially when its business practices are questionable.
When they received over $100 million from the state in 2008 (along with millions more in forgiven loans already in the books), they agreed to have their financial affairs audited by the state comptroller.

Of course, once they received the money they needed, they refused to comply with the conditions of the agreement under which they received the funds...and fought to keep their finances away from the scrutiny of the state.

And instead of being reprimanded by the state...they have been rewarded with a casino licence.

It makes about as much sense as anything else in this game I guess...

Oh my...

NYRA cannot do anything w/o the NYSRWB approving every iota of their opertion as per your comment that:

]The NYRA is not a sacred institution...it is just a corporation; and as such, it deserves to be criticized...especially when its business practices are questionable.

The state dictates how much of the NYRA handle goes to NYRA operations and the rest to the state coffers divided between education and local municipalities. NYRA cannot go the the "john" w/o asking "mother may I" of the NYSRWB that CONTROLS NYRA.

You conveniently ignore the FACT that the NYOTB owed NYRA 28 million in unpaid franchise fees. You don't understand the FACT that in exchange for getting the license to run racing in NY, NYRA gave up ownership of the LAND where Belmont/Aquduct operate.

Let me explain...the LAND where NYRA tracks are located is worth BILLIONS. NYRA has OWNED THE LAND SINCE 1955.
In exchange for racing license fromn the NYSRWB, NYRA turned over deeds to NYRA tracks, the STATE "loaned NYRA" the cash to get through the Spitzer fiasco and the NYOTB deadbeats.

NYRA gave up alot more than your fake figure of 100 million. It was more like 25 million...but nothing compared to the value of NYA's real estate.

NYRA is a NOT for profit organization not a corporation. Why don't YOU comment in Evans annual 7,000,000+ salary for CDI?

Why not complain about Evans' salary and explain exaxtly WHAT benefit YOU as a gambler are receiving from CDI

[thaskalos]

Originally Posted by igiveupregistering

Oh my... I landed in the " Land of the Stupids" here.

NYRA cannot do anything w/o the NYSRWB approving every iota of their opertion as per "your stupid comment" that:

]The NYRA is not a sacred institution...it is just a corporation; and as such, it deserves to be criticized...especially when its business practices are questionable.

The state dictates how much of the NYRA handle goes to NYRA operations and the rest to the state coffers divided between education and local municipalities. NYRA cannot go the the "john" w/o asking "mother may I" of the NYSRWB that CONTROLS NYRA.

You conveniently ignore the FACT that the NYOTB owed NYRA 28 million in unpaid franchise fees. You are too dumb to understand the FACT that in exchange for getting the license to run racing in NY, NYRA gave up ownership of the LAND where Belmont/Aquduct operate.

You seem to be "slow" so I'll explain...the LAND where NYRA tracks are located is worth BILLIONS. NYRA has OWNED THE LAND SINCE 1955.
In exchange for racing license fromn the NYSRWB, NYRA turned over deeds to NYRA tracks, the STATE "loaned NYRA" the cash to get through the Spitzer fiasco and the NYOTB deadbeats.

NYRA gave up alot more than your fake figure of 100 million. It was more like 25 million...but nothing compared to the value of NYA's real estate.

NYRA is a NOT for profit organization not a corporation. Why don't YOU comment in Evans annual 7,000,000+ salary for CDI? That is 7 MILLION plus annually since you are clearly challenged by some defect and may not be able to compute all the 0's in Evans' salary.

Why not complain about Evans' salary and explain exaxtly WHAT benefit YOU as a gambler are receiving from CDI

Now I see why Canarsie was worried about name calling...

I'll tell you what my "informed" friend...

I will bet you all the money you can borrow that the NYRA is indeed a corporation...regardless of its not-for-profit status.

And I am not concerned in the least with what they, or CDI, pay their employees...

My post was just a response to Canarsie, who mentioned that NYRA would not disclose its budget or salaries when asked...and who expressed concern that he might be verbally attacked if he criticized them...

Now I see what he meant...

If you REALLY want to see who is "stupid"...I suggest you look in the mirror.

[PaceAdvantage]

And to think, I thought I had cleaned up that reply before thaskalos got to it...I guess I was too slow...thaskalos didn't deserve that kind of reply...

I'm shutting this thread down...sorry...