Beyer Article Racing May Have A Savior

[The Judge]

Washington Post Article

By Andrew Beyer
Saturday, April 11, 2009; Page D02
Halsey Minor has made hundreds of millions of dollars as a technology entrepreneur. His San Francisco-based firm bills itself as an investor in start-up companies that seek to "change the shape of business on the Internet." A man on the cutting edge of commerce seems an unlikely candidate to get involved in the moribund horse racing industry. Yet Minor aspires to own racetracks and sees a once-in-a-lifetime opportunity to acquire a portfolio of them. Magna Entertainment, the biggest owner of U.S. tracks, has declared bankruptcy and Minor hopes to buy almost all of the company's properties -- including Santa Anita, Pimlico and Laurel.

Asked if his aims were based on sentiment or a business decision, Minor said: "Turning around American racing is my passion. It's what I think about all day.

[joanied]

I wish him good luck...Stronach made a mess of things with his illusions of grandeur...who knows, maybe Minor can turn things around somewhat.

[slewis]

Originally Posted by The Judge

Washington Post Article

By Andrew Beyer
Saturday, April 11, 2009; Page D02
Halsey Minor has made hundreds of millions of dollars as a technology entrepreneur. His San Francisco-based firm bills itself as an investor in start-up companies that seek to "change the shape of business on the Internet." A man on the cutting edge of commerce seems an unlikely candidate to get involved in the moribund horse racing industry. Yet Minor aspires to own racetracks and sees a once-in-a-lifetime opportunity to acquire a portfolio of them. Magna Entertainment, the biggest owner of U.S. tracks, has declared bankruptcy and Minor hopes to buy almost all of the company's properties -- including Santa Anita, Pimlico and Laurel.

Asked if his aims were based on sentiment or a business decision, Minor said: "Turning around American racing is my passion. It's what I think about all day.

And he, like many other wealthy people who want to come into this sport and turn it around, will leave with his tail between his legs and a whole lot poorer.

I laugh at crap like this...

There is ONLY one business model that can work properly for the the game as a whole (especially the fate of the horses) and that's what we have in NY.

Tracks should be owned and operated by the state. Franchise it out if necessary, or hire competant experienced people from the HORSEMAN AND GAMBLING sides of the business to run them. The racing business should be looked at like state parks, not for profit, for the entertainment of the people, with ample revenue to provide jobs and to fill tax burdens.
If tracks were completely state controlled, the interstate negotiations regarding signals, etc would be far less of a headache then one or two companies leveraging everyone else out.
Govt's should control gambling, why should individuals profit from it? Gambling (casino too) should never be perceived as a business open to private operation.
It's a cash cow, plus, it opens the door to far too much lobbying and payoffs for contracts, etc.
Stronach loves racing.. his heart is in the right place..but the model fails time and time again. I posted this when the NYRA franchise was being tossed about... fortunately the state did the smart thing not privatizing it.
(Although the 25yrs NYRA got is a complete joke and a separate arguement)
As far as Halsey goes.... good luck

[Relwob Owner]

Originally Posted by slewis

And he, like many other wealthy people who want to come into this sport and turn it around, will leave with his tail between his legs and a whole lot poorer.

I laugh at crap like this...

There is ONLY one business model that can work properly for the the game as a whole (especially the fate of the horses) and that's what we have in NY.

Tracks should be owned and operated by the state. Franchise it out if necessary, or hire competant experienced people from the HORSEMAN AND GAMBLING sides of the business to run them. The racing business should be looked at like state parks, not for profit, for the entertainment of the people, with ample revenue to provide jobs and to fill tax burdens.
If tracks were completely state controlled, the interstate negotiations regarding signals, etc would be far less of a headache then one or two companies leveraging everyone else out.
Govt's should control gambling, why should individuals profit from it? Gambling (casino too) should never be perceived as a business open to private operation.
It's a cash cow, plus, it opens the door to far too much lobbying and payoffs for contracts, etc.
Stronach loves racing.. his heart is in the right place..but the model fails time and time again. I posted this when the NYRA franchise was being tossed about... fortunately the state did the smart thing not privatizing it.
(Although the 25yrs NYRA got is a complete joke and a separate arguement)
As far as Halsey goes.... good luck

Man, did you hit the nail on the head....this guy scares the crap out of me....anyone who says they can come in and quickly fix the sport is out of their mind....just because he did well in another profession doesnt mean he can come in and fix our problems....

[Donnie]

...something is churning, folks. I didn't see the entire ad last night on TV, BUT I swear there was an ad on TV touting The Kentucky Derby as the "PARTY of ALL PARTIES". They were talking about all these stars who were going to perform and it was gonna be held on one of the major networks, I think on Derby Day. Somebody, somewhere sees an opportunity of promoting the Derby and surrounding festivities. I am hoping this will draw more people (especially a younger crowd) to focus on the races.

Sidebar--- I don't watch a whole lot of TV, it is on moreso for background noise, but I do watch the Celebrity Apprentice. Did y'all see Joan Rivers call poker players in Vegas "the bottom of the barrell"....she was talking to Annie Duke and deriding her for "playing the game" on the show. Thru this show I have lost ALL respect for Joan Rivers.....not like I had a lot for her to begin with!

[slewis]

Originally Posted by Relwob Owner

Man, did you hit the nail on the head....this guy scares the crap out of me....anyone who says they can come in and quickly fix the sport is out of their mind....just because he did well in another profession doesnt mean he can come in and fix our problems....

OMG Rel,

We agree on something????

I was just about to store the snow blower away..figured we were safe....now, I'll keep it around for a couple of weeks...filled with gasoline...
And since I figured never to be rich in this lifetime...Im buyin me a lotto ticket too.

thanks..

[Relwob Owner]

Originally Posted by slewis

OMG Rel,

We agree on something????

I was just about to store the snow blower away..figured we were safe....now, I'll keep it around for a couple of weeks...filled with gasoline...
And since I figured never to be rich in this lifetime...Im buyin me a lotto ticket too.

thanks..

We have had some good back and forths but no name calling or anything and I have enjoyed em!!!! We can ban together and keep Minor out.....

[Greyfox]

Originally Posted by slewis

There is ONLY one business model that can work properly for the the game as a whole (especially the fate of the horses) and that's what we have in NY.

What an open mind you have.
Personally, I wish the entrepreneur well.
Differing from your view re: the Government running horse racing, I don't believe that Governments should be in the business of being in business.

[Relwob Owner]

Originally Posted by Greyfox

What an open mind you have.
Personally, I wish the entrepreneur well.
Differing from your view re: the Government running horse racing, I don't believe that Governments should be in the business of being in business.

Im not sure I am on board with the govt running racing either but I am on board with thinking Minor will get in and then get out much, much poorer...horse racing is such a complicated, layered and currently troubled business and hearing someone say they will have little problem fixing it is the first tip off to their future failure IMHO.......

[DanG]

I wish him all the best and cringe simultaneously.

[slew101]

Exactly. Two words for this guy. Sam Zell. Thought he could swoop in and save Tribune Company. Now, he's not only taking a bath but admits he was dead wrong.

Originally Posted by Relwob Owner

Man, did you hit the nail on the head....this guy scares the crap out of me....anyone who says they can come in and quickly fix the sport is out of their mind....just because he did well in another profession doesnt mean he can come in and fix our problems....

[Relwob Owner]

Originally Posted by DanG

I wish him all the best and cringe simultaneously.

well put.....

[slewis]

Originally Posted by CBedo

And you're happy with the socialization of America as well? lol

Im not at all for socialization of America.... When it comes to gambling, it's a different animal. Look what's taking place in the racetrack industry...

Tracks are counting on racinos to make it... very very bad idea.

I dont know if you're familiar with Bethpage state park (they'll play the US open in Golf their this year).

5 golf courses on prime real estate. The property taxes the state would generate alone if they sold and developed the land could feed a third world country or two.
But it's a park.. for the people... entertainment. The charged green fees to play golf cover a VERY small cost towards the maintenance of it, yet, it creates jobs and is good for the state and the people of the state.

That's how racetracks should be viewed... but with tracks there is a big bonus... they generate hundreds of millions in tax revenue.. and states, because it's GAMBLING, should completely control it.
Many other industries rely on the track... like the breeding industry..and others.. it's a huge business.

[slewis]

Originally Posted by Greyfox

What an open mind you have.
Personally, I wish the entrepreneur well.
Differing from your view re: the Government running horse racing, I don't believe that Governments should be in the business of being in business.

Greyfox,

Let me give you one example (of many) why Im scared of racing for profit....

Let's say at a track in Vermont (there is no racing, but it's hypothetical) a private owner runs the track.. He's barely making it. They have a string of bad weather forcing some cancellations due to weather and poor track conditions.
Now after 4 canceled days.. the weather is a bit nicer, but the track is bad...and dangerous...
Now it becomes business over safety... dollars and cents over intelligence, reason and integrity...

This is just 1 example.... I could give 50 more.
No one can dispute that smaller, privately owned tracks are under pressure to fill cards and generate income.... sometimes at the expense of the animal.

I could go on...

[Greyfox]

Originally Posted by slewis

Greyfox,

Let me give you one example (of many) why Im scared of racing for profit....

...

Spare me the examples. Why should Joe Public pay for horse racing?
If the game isn't viable as an honest business operation, why should tax payers foot the bill?