SUN ON MAGNA: Autocracy; Misplaced risks

[phystech]

Originally Posted by blackthroatedwind

Stronach paid way too much for all these properties, which is specifically why they were pretty much immediately worth less than he paid for them, and of course one of the big reasons Magna Entertainment got in financial trouble. $130 Million for the two Maryland racing properties?

Note - minor nit-pick here - Magna bought three properties from MJC. Laurel, Pimlico and Bowie Training Center.

Originally Posted by blackthroatedwind

He has done some good things in Maryland. The new racing surfaces at Laurel are great. The dining rooms at both Laurel and Pimlico have been upgraded substantially. The bar area on the third floor at Laurel, by the dining room, is great.

The old dirt track at Laurel was fine so there's no upgrade there. Changing the track circumference removed the 8.5f races - you either get 1 turn miles or 9f's now. Eliminating the 8.5f race was a major downgrade, IMO.

The turf course at Laurel was a major, major outstanding improvement - now they need to run their meet when they can take full advantage of that wonderful tuirf course. Doesn't do you much good to have a fantastic grass racing strip in Dec, Jan, Feb and most of March - and that's almost half of the meet.

In the last 11 years, I can't say I've seen much change in either dining room at either facility but if you feel they have been upgraded, I'll take your word - to each his own. I do agree that the bar area near the dining room is a major improvement.

Now, if they could just get rid of the mudcraters in the horseman's parking lot....