Comptroller: NYRA on "very shaky financial ground"

[ARyan]

http://www.bloomberg.com/news/2010-0...poli-says.html

http://poststar.com/news/local/artic...cc4c002e0.html

[freddymo]

Scary stuff.. State screws NYRA and then State comptroller declares NYRA was bailout by the Taxpayers? NYRA should be looking at a Plan B since there is 0.0 chance the Genting bid will go thru. But come Napoli have a heart..

[blackthroatedwind]

For anybody actually interested, Bloodhorse presented the full report, which includes the NYRA responses.


http://www.bloodhorse.com/pdf/09s89.pdf

[gales0678]

Originally Posted by blackthroatedwind

For anybody actually interested, Bloodhorse presented the full report, which includes the NYRA responses.


http://www.bloodhorse.com/pdf/09s89.pdf

andy where is all the $$ going , how could you guys be broke?

Originally Posted by gales0678

andy where is all the $$ going , how could you guys be broke?

He will tell us on the next installment of "Trips & Traps". lol

It is available in the documnet Andy attached. It will take time to read but it becomes clear as to where the problems are.

[ARyan]

Originally Posted by blackthroatedwind

For anybody actually interested, Bloodhorse presented the full report, which includes the NYRA responses.


http://www.bloodhorse.com/pdf/09s89.pdf

I wish that would get posted in the papers up here, from Albany to Glens Falls.

Its ridiculus how many people I run into a day that are b!tching about the "bailout" NYRA has got, and the crazy salaries. Then when you try to expalin the VLT mess, and point out NYC OTB, they have no interest and walk away.

[PSH]

After reading the report, what else can NYRA do without the VLT revenues and the money owed by NYC OTB? NYRA appears to putting forth their best effort under less than ideal circumstances. The economy is not helping either that has direct negative results in field sizes and corresponding $$$ wagering. The five recommendations made to NYRA i believe were fairly minor in nature.....

Until VLTs are approved the negative cash flow will continue..... It is that simple. One can argue that salaries are too high at the top but that is a common complaint for all corporate officers.

[Cannon Shell]

Originally Posted by gales0678

andy where is all the $$ going , how could you guys be broke?

Overpriced Yankee tickets

[Kasept]

Originally Posted by gales0678

andy where is all the $$ going , how could you guys be broke?

Honest to god Marty, you must wake up daily having retained no prior accumulated information. You're like a human Etch-a-Sketch.

[Duvalier]

Originally Posted by Kasept

Honest to god Marty, you must wake up daily having retained no prior accumulated information. You're like a human Etch-a-Sketch.

Classic

[Gaelic Storm]

Can we please get the unelected Comptroller to audit the NYC OTB's books.

[ARyan]

Originally Posted by Kasept

Honest to god Marty, you must wake up daily having retained no prior accumulated information. You're like a human Etch-a-Sketch.

[Linny]

Originally Posted by Kasept

Honest to god Marty, you must wake up daily having retained no prior accumulated information. You're like a human Etch-a-Sketch.

May I use this as my signature?

[RockHardTen1985]

Originally Posted by Kasept

Honest to god Marty, you must wake up daily having retained no prior accumulated information. You're like a human Etch-a-Sketch.

LOL

[parsixfarms]

We didn't need DiNapoli to spend who knows how much money to say that, if the state continues to botch the OTB and VLT situations, NYRA will be faced with financial difficulty. That being said, could some one please explain Heffernan's response on the Getnick & Getnick issue? Exactly what value does New York racing derive from their presence to justify over a $1 million per year in legal fees? Aside from Neil Getnick showing up for various fundraisers in Saratoga, why is July/August considered "peak season" for integrity issues?

[pointman]

DiNapoli is an absolute political hack that got this position through patronage after he was unable to win a primary against Tom Suozzi despite having the Democratic party's support. He has no experience or background for the comptroller position and his report shows an absolute lack of knowledge as to the business that NYRA runs. He is likely using this for political gain as he runs for another position he is unqualified to serve, attorney general.

This report is garbage and should be treated as such by the media, yet for some reason the mainstream New York media eats it up and only reports the negative towards NYRA.

[randallscott35]

Gales is the guy from Memento

[gales0678]

Originally Posted by Cannon Shell

Overpriced Yankee tickets

chuck , all i know is i get the plays from RHT the $ goes into the window at BEL and does not come back , could Madoff have taken it too?

[Cannon Shell]

Originally Posted by gales0678

chuck , all i know is i get the plays from RHT the $ goes into the window at BEL and does not come back , could Madoff have taken it too?

RHT's real handle is about $17 a day

[pointman]

Originally Posted by parsixfarms

We didn't need DiNapoli to spend who knows how much money to say that, if the state continues to botch the OTB and VLT situations, NYRA will be faced with financial difficulty. That being said, could some one please explain Heffernan's response on the Getnick & Getnick issue? Exactly what value does New York racing derive from their presence to justify over a $1 million per year in legal fees? Aside from Neil Getnick showing up for various fundraisers in Saratoga, why is July/August considered "peak season" for integrity issues?

NYRA is mandated by the bancruptcy court to have Getnick & Getnick oversee their operations, this is not a discretionary fee they are paying. Heffernan is really trying to say that they are getting a good deal considering that Getnick is working at 2001 rates and have voluntarily given them free work through credits and discounts during NYRA's toughest financial times, therefore justifying the fee schedule as a necessary and fair deal for NYRA. This really demonstrates the shoddy work by DiNapoli's office by questioning an expense without doing the work to understand why it is necessary.

DiNapoli is a political hack only looking for some positive headlines in advance of this election. I hope he gets trounced in November. That being said, his opponents are not that appealing either, particularly the completely unqualified Kathleen Rice who in reality can't even run the Nassau County District Attorney's Office competently (not that I am really complaining as I take advantage of it) but continually gets positive press due to media's failure to examine if she is actually producing the results she claims to (particularly the liberal rag called Newsday).

The state of New York politics is sad, but unfortunately BS is passed on by the media and believed by the voters. I am certain we will see a lot of NYRA bashing between now and November.