Kopia Posted November 17, 2019 Share Posted November 17, 2019 37 minutes ago, Chief Stipe said: It won't make any difference increasing stakes. The horse population is no longer there. Note the decline in quality in our Open Handicappers across ALL distances. Note the decline in quality in our non age group Group Races even when they still have comparatively good stakes. It amazes me how we debate on BOAY the quality of a race, how to punt properly, the merits of various horses versus others and so on. However how many of you have noted that again the NZRB aka RITA has soaked up another $24m in reserves to keep stakes at their current levels plus using Pokie money. There is less than one year of reserves left and from what I can see no improvement in revenue collected. The day of reckoning is very very close and I'm afraid I can't see this Government giving a handout to help. By ' this Government' read..the Minister. Because no one else in the loser coalition gives a shit, thats quite clear. And now Peters has had to back down hugely over his childish pursuit of National MP's...and don't be surprised to see part of the eventual decision from the Judge ( after he has had his Xmas month off ) that Peters has to apologise to those he now accepts did not leak the details of his fraudulent defalcation. All this leads to the fact that your final sentence is correct. We're fucked as an industry. p.s. tommo to save you having to look it up...' defalcation-"a breach of trust involving money"....sounds apt in Peters' case. 1 Quote Link to comment Share on other sites More sharing options...
Freda Posted November 18, 2019 Share Posted November 18, 2019 wrt ' reserves' I was under the impression we had none left... ? Quote Link to comment Share on other sites More sharing options...
Freda Posted November 18, 2019 Share Posted November 18, 2019 ..unless 'intangible assets' can be counted...surely not. Quote Link to comment Share on other sites More sharing options...
Mark D Posted November 18, 2019 Share Posted November 18, 2019 Oh yes Freda they can - overvaluing intangible assets is a great accounting trick 1 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted November 18, 2019 Share Posted November 18, 2019 26 minutes ago, Freda said: wrt ' reserves' I was under the impression we had none left... ? Technically we don't. The topped up using pokies and other accounting mechanisms. But you also have to remember that this is the annual report for last season. We are nearly half way through this season and there hasn't been any significant uplift in revenue. As far as I know you can't draw cash from intangible assets unless someone is foolish enough to lend you the cash for a hold over that asset. Overvalued intangible assets was on the balance sheets of those companies that crashes in 1987. Quote Link to comment Share on other sites More sharing options...
Freda Posted November 18, 2019 Share Posted November 18, 2019 That's kinda prophetic, then, isn't it. ? Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted November 18, 2019 Share Posted November 18, 2019 (edited) 5 hours ago, Kopia said: We're fucked as an industry. And it's thoroughly deserves it.. a Industry full of stupid bourgeois cretins! Amusing to see all the bleating from the likes of you! haha! Edited November 18, 2019 by Murray Fish fat fingers! Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted November 18, 2019 Share Posted November 18, 2019 6 minutes ago, Murray Fish said: And it's thoroughly deserves it.. a Industry full of stupid bourgeois cretins! Amusing to see all the bleating from the likes of you! haha! The Philistines will need to reach into their gold chests to save the industry. So they should as they have profited at the expense of the battlers. Quote Link to comment Share on other sites More sharing options...
Kopia Posted November 18, 2019 Share Posted November 18, 2019 8 minutes ago, Murray Fish said: And it's thoroughly deserves it.. a Industry full of stupid bourgeois cretins! Amusing to see all the bleating from the likes of you! haha! Merely stating a fact. I have no longer any racing involvement in this country. I just feel sorry for the battlers and the young people at the bottom of the pond working for peanuts, things aint changing for them. Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted November 20, 2019 Share Posted November 20, 2019 On 18/11/2019 at 6:22 PM, Kopia said: Merely stating a fact. I have no longer any racing involvement in this country. I just feel sorry for the battlers and the young people at the bottom of the pond working for peanuts, things aint changing for them. re those at the bottom,... very much a massive change in the ethnic background of 'stable hands' in nz sables this century.. as there has been in the appt and riding ranks... personally! I know of many who have correctly left nz though needing to better themselves! unionism in industry in au has been a important part of better wages over there! I have really admired the bravery of the lots of a then 'young' Waller! Laurie Laxon! and I'm sure at least 100 others who are making a better living. A question I always asked was "how many workers nz racing industry could afford to be paying a mortgage?" i bet that stat has tracked down faster than the sad reality of home ownership for so many nowadays! Quote Link to comment Share on other sites More sharing options...
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