Magna Cum Loud - By Lenny Shulman

re: Magna Cum Loud - By Lenny Shulman

James — Sat, 05 Jun 2010 18:16:18 GMT

Eric, that was my reasoning in 1995, when I just lost everything. If you don't do homework and are strictly gambling. Yes, you'd never win.. Same thing with lousy Las Vegas and its house rigged games. But if you read horse-racing books. Read Dick Mitchell and bet to win only. You have a chance. No one is educating themselves to beat this game. In Las Vegas or at The Indian Casinos, if we educate ourselves and get good. They will ban us from the premises. In horse racing educating yourself and improvement as a player is welcome. Betting to win, many can achieve 25 percent winners at a 10 dollar average. No one wants to try and no one believes. Horse racing gives us that chance and I do profit. I easily get 25 percent at 10 dollars. It can be done and excuses don't work. Horseracing is fairer and more profitable for skilled players than any nonsense casino game. where they will ban us, if we get good.

re: Magna Cum Loud - By Lenny Shulman

eric — Mon, 31 May 2010 05:41:44 GMT

this is the first thing stronach has done right. he's saved the BC from trying to operate at SA permanently. thank you frank!

re: Magna Cum Loud - By Lenny Shulman

markinsac — Mon, 31 May 2010 01:02:20 GMT

Framk Stongarm is a joke at a time when Calif racing is a sinking ship. To those who ask, "Why not install slots at Calif tracks?" The simple answer is the Calif politicians are heavily funded by the Indian Casinos who have a monopoly on Calif slots, even though they aren't technically part of Calif. Their casinos are located on their reservations, which are deemed a sovergn nation, even though Calif government regulates them, so to speak . . . I hope that was simple to understand. Meanwhile, as a small group of Indians go from being the poorest in the state to the richest, the racing industry is which employs thousands falls apart. Part of the fault is the Racing industry itself. It's offering gambling at odds that are impossible to beat! Even those getting offshore rebates can only hope to break even, those suckers who show up to the track every day, will one of you step forward and claim you are beating the game? ONE?

re: Magna Cum Loud - By Lenny Shulman

eric jensen — Sun, 30 May 2010 16:19:17 GMT

califonia's board needs to know that frank is here to stay, even though the horsemen hate him and he does not care, that's why allot of horsemen have got out of califonia causing small fields, the horse owners are leaving also because they can not make any money in califonia they tax everybody to death.where the eastern tracks have big fields and that's what the gambler want's califonia has been going down for years look how many foals are being foaled in the state, the breeder's are getting a bad shake, they want to tax these mares and foals before they even get to the races.the breeder's should get the bonnus money and this would cause more horses to be born in califonia

re: Magna Cum Loud - By Lenny Shulman

Thom in Maryland — Thu, 27 May 2010 21:09:44 GMT

One writer posted that all this article did was "fan the anti-Stronach flames" without specifics. The person who posted that comment must not be near a racetrack owned by Stronach's MAGNA or MID. Their ownership combined with defrancis greed & hubris ruined Maryland racing. Pimlico is a dump and they screwed up slots at Laurel.

re: Magna Cum Loud - By Lenny Shulman

average joe — Thu, 27 May 2010 20:05:57 GMT

Her's a GREAT novel Idea !!! ... Every major racetrack in a state should be OWNED by the Thoroughbred / owners's assocuation of each state the track is located in ... Purses would increase, uniformity of rules would be in place and the industry would thrive like never before !

re: Magna Cum Loud - By Lenny Shulman

very concerned — Thu, 27 May 2010 14:27:05 GMT

Frank; Please sell Santa Anita to someone who cares about Horse Racing. Its Obvious you dont.

The Only point Frank has is that on the playing field of gambling. The indians, can gamble 24/7 and Horse racing dates are controlled by CHRB. This is not right.

re: Magna Cum Loud - By Lenny Shulman

Nancy — Thu, 27 May 2010 14:21:08 GMT

Based on what I read when I was new to racing in the mid-2000s I thought Stronach was a 'good guy'. Over the last several years my opinion of him has changed to the negative. He has his own agenda based on his massive ego (like Donald Trump). Yes, he might have done some good things for racing and breeding earlier on, but now he is a detriment to racing. I think the bankruptcy courts were too lenient with him. Based on Lenny's article, his business plan going forward is disastrous for Santa Anita, California and racing. The fields are getting so small, 4-5 horses, in many races that I don't see how added race dates will help any track let alone the California ones. I would suggest that fewer race dates - Thursdays through Sundays with night racing on Thurs. & Fridays - would enhance attendance and handle. Racing and California has already lost an excellent trainer - Greg Gilchrist, not to mention how many in the future will decide on quitting given the state of racing and the squabbling and stalling by the power brokers and meglomaniacs.

But what do I know? I'm only a lover of horses and safe racing!

re: Magna Cum Loud - By Lenny Shulman

Kent — Thu, 27 May 2010 12:08:06 GMT

I am a second generation horseman and my family has been in the business for over 50 years.It is very dishearting to read all of the negative words about Frank Stronach. My father was Frank's first trainer in the business and he had nothing but the upmost respect for Frank Stronach as a businessman, person and visonary for our business. Let's be honest, in most of the cases regarding the states were the racing ventures did not come to flurish, it was not because of Frank Stronach, he invested into these tracks to keep racing alive, and in hopes that casino's would be granted to raise purses for horsemen. The states made sure by not voting in favour of slots and casino's, that his ventures could not make it. On track attendence has fallen dramatically, from the glory days of racing, and without a betting public or casino revenue, how could the tracks be sucessful. We all should be thanking him for trying to keep the sport of king's on the forefront of the sporting world, not taking the many steps back as it has in the last two decades,most of the track's in question would have closed down without Frank stepping in at a time when noone else was willing to even look twice at the books of these tracks, let alone buy them. I would personally like to thank Mr. Stronach for his contributions to racing, a sport that we all love, and noone can question the investment he has made to breeding in this business, I am sure at one point or another, most owners and trainers alike have had horses that he has breed and we have raced and made money.

re: Magna Cum Loud - By Lenny Shulman

Robert M — Thu, 27 May 2010 10:18:30 GMT

Frank Stronach has done more than any other single individual to hurt racing. Please Oak Tree do a deal with Del Mar or Hollywood Park. Get rid of Frank!

re: Magna Cum Loud - By Lenny Shulman

smartyjones1 — Thu, 27 May 2010 09:47:04 GMT

here's a guy who made a MESS of the racing industry...ruined gulfstream park..gobbled up a bunch of smaller

tracks-the only thing i can agree with him on is his hatred for poly/synth tracks..

other than that...he is just another

in the long line of morons who are destroying the once great racing industry...lets adress the issues and get 1 governing board...there are too many race's-too many b,c & even d tracks...it's time to organize,,,get a solid major tv contract-if nascar could do it anyone can-wake up

re: Magna Cum Loud - By Lenny Shulman

Dom — Thu, 27 May 2010 09:05:16 GMT

If you qualify for Chapter 7 bankruptcy, you are headed into a no-asset case. In this situation, you cannot give up your assets to the trustee. The "means of day-to-day living," such as your house, are often protected under Chapter 7. You will have to give up any money you have outside of your retirement accounts, but physical assets are almost always protected.

www.bankruptcydistrictcourt.com

re: Magna Cum Loud - By Lenny Shulman

Jammer — Thu, 27 May 2010 05:44:09 GMT

REMEMBER -

WHATEVER FRANK WANTS, FRANK GETS!!!

JAMMER

re: Magna Cum Loud - By Lenny Shulman

Bob — Thu, 27 May 2010 03:58:17 GMT

An Oak tree insider told a friend of mine that when Stronach purchased the race track he really didn't understand that the fall racing dates belonged to Oak Tree and not to Santa Anita. Ever since then he has done what he can to make things as tough as possible on Oak Tree and who would have thought that going bankrupt would have gotten him what he wanted.

It would have been great if the TRA would have purchased Santa Anita because they are all about horse racing and nothing else. The glory days of horse racing is when men like Strub, Haskell, and Weidner ran things. These were men who truly loved the game and understood that they weren't going to make $100 million owning a race track. They didn't care though because they loved the game so much and they understood the sport.

I think Frank Stronach loves horse racing. But he is a businessman first and the way society is today big business just isn't into nostalgia and not making much money.

It's going to be very difficult for racing to survive with the way things are today. It's a shame but once you took the class and sport out of horse racing you started digging the hole that it is now.

re: Magna Cum Loud - By Lenny Shulman

sarcsm1 — Thu, 27 May 2010 03:14:09 GMT

With the trouble horse racing is having across the entire country, it is laughable to hear some of you blame Stronach. Horseracing is in trouble. That is a fact and not the old school guys or the New guys have been able to fix it. Fact: it is based on an old structure from before cars. We do not have a National organization, nor are we getting any closer to one. This can't be blamed on Stronach. He is just an easy person to blame. How many of the tracks he bought would be in the same state as Bay Meadows? How many of you complainers stepped up and put up your money to save ANY racetracks. Everyone makes mistakes, but he is at least trying to better racing. Why do we so attack someone who is attempting to help racing. Really, who wants to step into his shoes? We all should be trying to work with, rather than against ANYONE trying to help racing. Wake up, unity only can help racing.

re: Magna Cum Loud - By Lenny Shulman

Anna Luna — Thu, 27 May 2010 03:12:51 GMT

MID gave Oak Tree Assn. an offer they COULD NOT ACCEPT...just do the math. The contract that was in place prior to being voided allowed for only a 25% net profit for the Oak Tree Assn...about 1.34M annually while SA was getting 75% WHICH WAS 4M PLUS the 2.5M annual lease agreement for the costs associated with hosting the Oak Tree meet at the SA venue. Yet, Oak Tree Assn. has managed to donate 20M over 40 years, roughly 500K per year to charitable causes associated with horseracing.

Now let's review MID's current offer...of taking the 75% of net profit (currently 4M) PLUS the 2.5M annual lease agreement PLUS getting a 10M loan from Oak Tree Racing Assn. with no principal payments for 2 yrs. PLUS 25% of costs for all capital improvements made to SA AND having Oak Tree Assn. give up an extra 1M during BC hosting years if it ever comes back to SA!!!

So Mr. Stronach, as head of MID as well as MEC, please open up negotiations with the THOC to get a fair market price for yourself and your MID shareholders, walk away and enable The Great Race Place to be once again all that it can be....A place (quoting roughly from Pres. Lincoln) "...of the horseracing fans, by the horseracing fans and for the horseracing fans and all those who love and care about it's future...the REAL stakeholders. Because without the fan, the horses, trainers, owners,etc. you don't have a future nor do you have a sport. So please Mr. Stronach and Company, walk away.

re: Magna Cum Loud - By Lenny Shulman

So Cal Racer — Thu, 27 May 2010 01:42:33 GMT

Stronach is draging Santa Anita down during the winter meet, problem on rain on Pro Ride that does not work, resulted on lost race day.. they should left the track the way it is Dirt.. still no care to change to better track surface.. Stronach is head ache to racing industry, hopefully they will find a better substitute..

re: Magna Cum Loud - By Lenny Shulman

terrang — Wed, 26 May 2010 22:50:41 GMT

Sorry that swaps was already in use.

It's just not in horse racing. In industry after industry people with connections to big banks have been accumulating companies by giving sellers huge buyouts. Then the buyers have cut costs, often firing people so that "wasted wages" can be paid to the banks as interest on the new debt.

Stronach got rid of the old debt and the old shareholders and took back Santa Anita. But he had to fire Oak Tree because he has to squeeaze money out of the operation to pay debt service.

Fiat money created out of thin air but loaned out at interest makes capitalism self destructive when it is only used to buy existing companies at marked up prices.

re: Magna Cum Loud - By Lenny Shulman

lllefty — Wed, 26 May 2010 21:52:11 GMT

Briefly put, Stronach is toxic.

Example: his ownership of the Maryland Jockey Club and mishandling of the slot's initiative.

re: Magna Cum Loud - By Lenny Shulman

BigBadLeroy — Wed, 26 May 2010 21:29:22 GMT

To; Lenny the answer about the track running slots and table games in California is simple. Indian Casinos have a monopoly on the industry cause of that clown Arnold the recall gov. They worked out a deal to stop any further casinos from popping up as long as they pay taxes. He gets a cut from it you know it. Lenny you have good question. California has a lot crooked people in state office. Ken Maddy was the last good senator we had that cared of the horse racing industry. I am tired about this too. Slots and table games could be implemented anytime , but the Indian Casinos have a stronghold they need to go the way of the dinosaurs. They need to become instinct. Go away soon better than later.

re: Magna Cum Loud - By Lenny Shulman

jOHN — Wed, 26 May 2010 17:14:58 GMT

Stronach destroyed Gulfstream Park with his idiotic 'mall' concept.Like most of the clueless running racing, the guy is completely out of touch with the wants/needs of the Horsemen!!!!!!!!!

re: Magna Cum Loud - By Lenny Shulman

MH — Wed, 26 May 2010 17:04:19 GMT

I want to reiterate what BarbarosDerby1328 said:

"Frank Stronach is symbolic of what is wrong with our wonderful sport. He is one who places his own interests in front of those who love the sport, and most notably, the sport itself."

re: Magna Cum Loud - By Lenny Shulman

Redhorserun — Wed, 26 May 2010 16:57:23 GMT

Frank Stronach is a scourge upon the racetracks he owns. While his breeding operation appears to be first-class, what he has done to the tracks he has owned is an abomination.

As a horseman at Thistledown in Cleveland, I have watched for 10+ years as he has siphoned the life out of us, cutting racing days and purses, all the while citing losses. During his time as owner, he made no effort to do anything for the horsemen or the fans - except take their money and treat them like they deserved to lose. But if he was losing so much money on the place, why did he request to be able to bid as a separate entity in the bankruptcy auction of the track yesterday? (Thankfully, the court said "no" and Harrah's is the new owner.)

I know I speak for all horsemen in northern Ohio when I say "Good riddance!!!"

re: Magna Cum Loud - By Lenny Shulman

Larry — Wed, 26 May 2010 16:36:08 GMT

PLEEEEZE ! People talking about the good old day's. When Joe DeFrancis began the dismantling of all his pop's progress and goodwill. Remember he was (and alway's) a litigation attorney, and treated every issue as such. I have seen everthing Stronach has done. Can you really hold him responsible for the game's slide, it seem's to gain momentum every year. Wrong or right he is the ONLY person to have put his own $$$$ to try something new and inventive. As a longtime horseman I guess I do not like what he has done (especially at Gulfstream). But hell, it is the first New facility in year's that might take the game into the future. My crew is gone by 60%, to death, finance's and the usual shenanigan's. No replacement's have arrived ! Leaving Gulfstream near the end of the meet I was stunned at an extinct specie's sighting. Many female under age 50 with male's following. By the way you do not hear a peep from the blueblood's who extorted $$$$$ from the sport and got to enjoy there crop's breaking a maiden for 25k for some unsuspecting sucker, never to return.

re: Magna Cum Loud - By Lenny Shulman

swaps — Wed, 26 May 2010 15:06:30 GMT

When Stronach bought the Maryland track and then fired half the people he was only following the business plan for mega-moguls. In industry after industry megalomaniacs and their banking allies have assembled huge corporations and then fired people so that money "wasted" on wages could be diverted to debt service income for the banks.

Now that he has Santa Anita again, Stronach is simply taking steps to cover his latest debt load to the banks. He is firing Oak Tree.

When Zayat, another big borrower, used tens of millions of borrowed money to buy horses none of the sellers complained.

All these tracks that Stronach bought with banker money were sold by people who wanted to take the money and run. Tracks are like newspapers and retail chains and manufacturing concerns - just something for the bankers and the megalomaniacs to pillage for short term gain.