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Author Topic: Want to Own a Race Track?  (Read 1542 times)
big wally

« on: February 28, 2006, 05:50:59 PM »
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« Reply #1 on: February 28, 2006, 09:39:33 PM »

That Frank's a smart guy. They have tons of depreciation and amortization for write off and they got Jeb to ok slots in FL.

A smart accountant is worth a thousand salesman.

See what FS and Magna want is to have ALL revenue from racing go into one GIGANTIC pool and then divy it up according to a formula based on individual track's handle. If he can put you under, he will get a larger piece of the pie. He is aiming for large scale efficiencies which will be why working for Frank is and will be such a bear. This is his business model.

Now, he had hired Bruno, the NY State legislator, or from my understanding Bruno was on his payroll or connected somehow, I forget exactly, and NY had this "think tank" making decisions re: NY racing. Then suddenly, Bruno leaves and Pataki and the legislature ok NYRA's operating budget, after a changing of the guard by the way, so who knows what sort of alliance came out of this? But guarantee somethings up. Then you have the other huge wall street company CHDN playing ball and with the new tote system's coming online, it's a done deal. An offer you can't refuse. The Republican party acts just like the mafia, don't it? And no nickel and dime Tamany Hall labor padding stuff they let the Dems get away with, but big business. Big Halliburton type business deals.

« Last Edit: February 28, 2006, 10:07:28 PM by edwarren » Report to moderator   Logged

« Reply #2 on: March 01, 2006, 08:25:40 AM »

I recollect, Bruno's son (or daughter?) was paid $2,000,000, and I do think that is the number, that's what was reported, to lobby on behalf of Magna during the "takeover" battle.

The Repubs keep the Dems around only to make it look like there are two parties "fighting competitively for public service". They are the dominant party and dominated by pro-Bush Repubs at that. Repubs are the big money and their donations to the Dems now keep the party afloat, which the Dems agree on because where are they gonna go? They haven't got any $350,000 make work jobs waiting for them at places like the Heritage Foundation or the American Enterprise Institute. They would lose the political pension system they have constructed and the nickel and dime graft the big boys let them get away with, while Repubs cash on the big deals, banking, securities, insurance, oil and gas, etc. How else can a Democrat make $1,000,000 and still keep his pension?
« Last Edit: March 01, 2006, 08:40:55 AM by edwarren » Report to moderator   Logged
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