Brilliant moves by Churchill

[jms62]

Originally Posted by Payson Dave

So you are saying that its fine for CD to make money by filling the Oaks and Derby Cards with lesser Stakes races...but its not ok to comp the owners and trainers that provide the horses that run in these lesser stakes. I personally think that if you have skin in the game your entitled to more of the frosting then someone who doesn't...those with skin in the game are in it for more than just the big days...just my opinion... we can always agree to disagree.

How about they comp us bettors who without they are NOTHING. No they raise the takeout on us. Sorry if I don't feel sorry for a rich fuk crying for tickets so he can bring someone in and pound his chest and say look at me I am so generous and compassionate.

[Payson Dave]

Lol...for the record I'm not crazy about the increased takeout...its not the owners that raised the takeout... it takes all three entities for the model to work but it is the tracks and the owners who are directly related in putting on the show.

[Sightseek]

Ron Turcotte's experience:

http://foxhillfarmstable.com/2014/04...end-of-racing/

[Pants II]

Originally Posted by Sightseek

Ron Turcotte's experience:

http://foxhillfarmstable.com/2014/04...end-of-racing/

Need NBA commish to force CDI to sell all of their tracks.

I'm not joking. They are scum of the earth.

[philcski]

I think what everyone is learning here is why profit-maximizing corporations are not necessarily good for America in general. Churchill is doing what "is best for their shareholders" because that's what they HAVE to do. It's the whole 99%'er argument all over again.

I have a lot more compassion for Ron Turcotte than Porter- a true legend of the game, who literally gave everything he had to it, and Churchill should have shown him the respect he deserves with at least a ticket and a parking spot.

[robfla]

Originally Posted by philcski

I have a lot more compassion for Ron Turcotte than Porter- a true legend of the game, who literally gave everything he had to it, and Churchill should have shown him the respect he deserves with at least a ticket and a parking spot.

I totally agree about Turcotte. Porter should pay his way.

[GenuineRisk]

Originally Posted by philcski

I think what everyone is learning here is why profit-maximizing corporations are not necessarily good for America in general

This this this a thousand times this.

[Cannon Shell]

Originally Posted by philcski

I think what everyone is learning here is why profit-maximizing corporations are not necessarily good for America in general. Churchill is doing what "is best for their shareholders" because that's what they HAVE to do. It's the whole 99%'er argument all over again.

I have a lot more compassion for Ron Turcotte than Porter- a true legend of the game, who literally gave everything he had to it, and Churchill should have shown him the respect he deserves with at least a ticket and a parking spot.

Phil you know this sentence is not exactly true.

CDI conveniently trots this out whenever they do something that will piss people off like their hands are tied because of shareholders. While Fiduciary responsibility is a part of every publicly traded companies accountability, the idea that free programs for the backside or a few hundred comped seats on a day when 150k people will be there has zero to do with shareholders. Management has a lot of leeway on day to day business decisions and pricing. This has far more to do with intentionally alienating the racing industry to the point where the backlash allows them to feel free to slash racing to the absolute bare minimum and eventually sell off or eliminate it completely. Except of course the Derby/Oaks weekend.

People mistakenly believe that because of the name "Churchill Downs" the company is a racing company. They might as well be named Acme Gaming. They have decided that instead of trying to grow the racing product, they will just squeeze it for every drop of blood and then dump it when the politicians are desperate.

[GenuineRisk]

Originally Posted by Cannon Shell

People mistakenly believe that because of the name "Churchill Downs" the company is a racing company. They might as well be named Acme Gaming. They have decided that instead of trying to grow the racing product, they will just squeeze it for every drop of blood and then dump it when the politicians are desperate.

In other words, they are acting like every other large corporation, with the possible exception of Costco.

[philcski]

Originally Posted by Cannon Shell

Phil you know this sentence is not exactly true.

CDI conveniently trots this out whenever they do something that will piss people off like their hands are tied because of shareholders. While Fiduciary responsibility is a part of every publicly traded companies accountability, the idea that free programs for the backside or a few hundred comped seats on a day when 150k people will be there has zero to do with shareholders. Management has a lot of leeway on day to day business decisions and pricing. This has far more to do with intentionally alienating the racing industry to the point where the backlash allows them to feel free to slash racing to the absolute bare minimum and eventually sell off or eliminate it completely. Except of course the Derby/Oaks weekend.

People mistakenly believe that because of the name "Churchill Downs" the company is a racing company. They might as well be named Acme Gaming. They have decided that instead of trying to grow the racing product, they will just squeeze it for every drop of blood and then dump it when the politicians are desperate.

Let's say they hold back 1,000 seats for owners and trainers on Derby Weekend. Got to be clubhouse 300's at minimum, as though not to offend a guy like Porter, right? Those seats are almost $1,000 for the two days. That's a million bucks of lost revenue. You know what a million bucks is to CD's CEO? 2% of Net Income in 2013. Let's just say that correlated 1:1 to the stock (which it's often magnified, but for argument's sake)... 2% is a difference of $30 million to the market cap.

I've said it before and I'll say it again... they don't have people who understand racing and gaming in place, they have knucklehead MBA's who see everything as an asset or liability on the balance sheet and P&L on the income statement. Not saying it's right, but that's what they're doing.

[freddymo]

Originally Posted by Cannon Shell

Phil you know this sentence is not exactly true.

CDI conveniently trots this out whenever they do something that will piss people off like their hands are tied because of shareholders. While Fiduciary responsibility is a part of every publicly traded companies accountability, the idea that free programs for the backside or a few hundred comped seats on a day when 150k people will be there has zero to do with shareholders. Management has a lot of leeway on day to day business decisions and pricing. This has far more to do with intentionally alienating the racing industry to the point where the backlash allows them to feel free to slash racing to the absolute bare minimum and eventually sell off or eliminate it completely. Except of course the Derby/Oaks weekend.

People mistakenly believe that because of the name "Churchill Downs" the company is a racing company. They might as well be named Acme Gaming. They have decided that instead of trying to grow the racing product, they will just squeeze it for every drop of blood and then dump it when the politicians are desperate.

Acme Gaming makes money and shareholders like profit CD horse racing is a huge LOSER...move forward sir you are wasting your time. Racing is not a business model to bank on

[casp0555]

Originally Posted by Sightseek

Ron Turcotte's experience:

http://foxhillfarmstable.com/2014/04...end-of-racing/

This is sad...and shows how disengaged CDI is with the "sport". Porter should pay but to offer this type of treatment to one it's historical stars and HOF members is "below the line". Shame on you CDI.