Quote:
Originally Posted by horsefan2019
Nothing wrong with separating your racing business from your personal finances. However it sounds like he squandered the fortunes he made in racing.
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I think everyone certainly understands separating your personal finances from racing finances, this corporation, LLC versus another. And hey if Zayat owned a bunch or real estate or other business that he just elected to shut down or sit there and rot, lock the door and walk away, to each his own.
The problem is this, he has left his horse racing business with countless people left unpaid, from vendors to trainers, blacksmiths, vets, transportation people and on top of that there is still horses that need to be taken care of. They don't just go away. Sure they are assets to a certain extent but this is a bit different. Yes, any business that files bankruptcy leaves a trail of tears a mile long but again the horses still need to be taken care of
There is a right way to exit the business and a wrong way. The racing business is a bit different, it isn't like just shutting down a restaurant or a construction business as the horses still need care. He could have liquidated all his horses at a sale as well, much like conquest dude did a few years back. Sure many would have not been worth much but still.
Maybe Jr should have gained a bit more experience in the racing business before he was given the keys, or maybe taken a job in another profession, to each his own I guess.
