Change of Tune

[Murray Fish]

1 hour ago, Chief Stipe said:

I did.  I said ALL of them!  

Doesn't that align with your view of the state of NZ Racing?  

yes....   hence the march into the sunset!

[Huey]

1 hour ago, Chief Stipe said:

I did.  I said ALL of them!  

Doesn't that align with your view of the state of NZ Racing?  

Don't beat about the bush , provide details.

[Chief Stipe]

8 minutes ago, Huey said:

Don't beat about the bush , provide details.

What list every Club?  What part of ALL don't you understand?  Certainly if you are an example of past committees racing was NEVER in good hands!

Fill ya boots:  https://is-register.companiesoffice.govt.nz/search/

[Special Agent]

NZTR are not only after tracks owned by clubs that do not have the funds to maintain them.

[Chief Stipe]

1 hour ago, Special Agent said:

NZTR are not only after tracks owned by clubs that do not have the funds to maintain them.

Which Clubs have the funds to maintain them and which ones are on a regular basis?  That is the fundamental question.

[Huey]

5 hours ago, Chief Stipe said:

Which Clubs have the funds to maintain them and which ones are on a regular basis?  That is the fundamental question.

Apparently you know all these you've read all the clubs financials , so you tell us?

[Chief Stipe]

2 minutes ago, Huey said:

Apparently you know all these you've read all the clubs financials , so you tell us?

I already have.  I said NONE.  As in Zip, Nada, ZERO!  You really are quite thick aren't you.

[Huey]

12 hours ago, Chief Stipe said:

I already have.  I said NONE.  As in Zip, Nada, ZERO!  You really are quite thick aren't you.

Prove it then, no stats.

I just said there are no dogs on this planet with 4 legs , doesn't mean its a true statement.

[Chief Stipe]

1 hour ago, Huey said:

Prove it then, no stats.

I just said there are no dogs on this planet with 4 legs , doesn't mean its a true statement.

Because it isn't a true statment.  It is a self evident truth that dogs are bred to have four legs - you only have to provide evidence of ONE dog that has four legs.

You disagree with my statement and you only need to provide one example of where I'm wrong.  You could argue Ellerslie is one but then you have shot that one down many many times.

[Freda]

On 28/11/2025 at 9:04 AM, Huey said:

Name them, you're the one making assertions .

Well, I think Reefton - for one - provides its own maintenance and has a positive balance sheet.  I can't imagine Mr Molloy tolerating debt.

Hokitika was another that had plenty in kitty, enough to undertake any works determined to be necessary. 

Not given the chance.  Gone. 

[Chief Stipe]

1 hour ago, Freda said:

Well, I think Reefton - for one - provides its own maintenance and has a positive balance sheet.  I can't imagine Mr Molloy tolerating debt.

$53k in Cash Assets 2024.  The $450k in Capital Assets were land, buildings and plant.

In 2024 Reefton received a Grant from NZTR which appears to have been spent on "Non-track Asset Maintenance" - if memory serves me correctly that might have been Stewards towers?

Very little over the years has been spent on core racing assets and you'd agree that $53k doesn't go very far.

1 hour ago, Freda said:

Hokitika was another that had plenty in kitty, enough to undertake any works determined to be necessary. 

Not given the chance.  Gone. 

How did Hokitika get their kitty?  Around 2005 their land assets were revalued and that valuation was considerably higher than the previous valuation.  At the same time they disposed of a part of those revalued assets (does Riccarton, Ellerslie and Trentham come to mind?) and put approximately $450k in the kitty. 

The Westland Racing Club barely made an operational profit from its core business - the majority of the time (before AND after 2005) they ran at a loss.  That new "kitty" was being run down.  Barely any funds were spent on the maintenance of core racing assets.  Basically they were doing what every other Club does - run down the value of their assets to fund operations WITHOUT investing in core infrastructure.

 

 

[Huey]

2 hours ago, Freda said:

Well, I think Reefton - for one - provides its own maintenance and has a positive balance sheet.  I can't imagine Mr Molloy tolerating debt.

Hokitika was another that had plenty in kitty, enough to undertake any works determined to be necessary. 

Not given the chance.  Gone. 

Agree on both.

[Huey]

Just now, Huey said:

Agree on both.

I would say outside of those clubs who are in the racing mafia family most of it is dependent upon what enthusiasm still exisits there and NZTR playing fair with them , the later very unlikely.

[Chief Stipe]

7 minutes ago, Huey said:

Agree on both.

Well aside from @Freda doing your homework for you @Huey you are both wrong.  Neither was earning enough from core activities to maintain core racing assets.  Hokitika was doing exactly what the big Clubs have been doing - selling assets to fund operations.  

[Bloke]

19 minutes ago, Huey said:

I would say outside of those clubs who are in the racing mafia family most of it is dependent upon what enthusiasm still exisits there and NZTR playing fair with them , the later very unlikely.

Wairarapa are trending well. I have not seen the financials for 31-07- 2025 but for 2024 they recorded a profit of $100k and $190k for 2023. To my knowledge they have not sold any real estate in the last 10 years.

Working capital = $400k and with no term liabilities.

[Huey]

47 minutes ago, Chief Stipe said:

Well aside from @Freda doing your homework for you @Huey you are both wrong.  Neither was earning enough from core activities to maintain core racing assets.  Hokitika was doing exactly what the big Clubs have been doing - selling assets to fund operations.  

Financial Statements are unlikely to tell the full story.

I'd venture to say it was your homework @Freda did.

[Chief Stipe]

20 minutes ago, Huey said:

Financial Statements are unlikely to tell the full story.

I'd venture to say it was your homework @Freda did.

LOL!!!  Are you saying the published financial statements are false?

[Chief Stipe]

54 minutes ago, Bloke said:

Wairarapa are trending well. I have not seen the financials for 31-07- 2025 but for 2024 they recorded a profit of $100k and $190k for 2023. To my knowledge they have not sold any real estate in the last 10 years.

Working capital = $400k and with no term liabilities.

Well there is a story in their accounts too.