Quote:
Originally Posted by parsixfarms
I also sit on the Board of a non-profit, and there are a whole host of tasks fulfilled by Board members. There is nothing legally prohibiting the Board members from financially propping up such an entity. That's why such boards often have so-called "money seats" on them, albeit as it related to the task of fund-raising for the organization. If there were some concerns about how to structure a loan to the organization (that's not the same as having a financial stake in the organization) without running afoul of potential conflict of interest rules, I'm sure that NYRA could run it past Getnick & Getnick, their high-priced "integrity counsel" (if they are looking at places to cut expenses, there'd be a good place to start).
I completely understand that the WARN notices had to go out just in case they do shut down.
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You think Dinny could spot them 17 mil till the VLT's come? I bet even 53rd st bank would float tem 20 mil if Phipps co signed..lol
05-21-2010, 03:58 PM
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