Brilliant moves by Churchill

[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.