Dean McKenzie-Time for some truth mate

[nomates]

9 minutes ago, JJ Flash said:

Go for it as im pretty sure no one with any real business experience restructures a business from the top down as you suggest.

Maybe not , but the review process could easily have covered all levels of the business from the beginning . Thereby giving the industry some confidence that they were serious in making significant change , funny how 18 months down the track that industry participants are still questioning what they have or trying to achieve .

 

10 minutes ago, JJ Flash said:

That suggests you know absolutely nothing about me.

 

You wrote in it response to a question a couple of months ago , it's always stuck with me , it was you . Interesting it was the first thing you addressed .

 

12 minutes ago, JJ Flash said:

Also, if you had a business that received no income for 3 months what would the likely outcome be and what strategy would you use to resolve obvious cash flow issues??

 

Now your just following their rhetoric that COVID brought this on racing .They had no income but they also had no racing to fund , and i'm pretty sure they received subsidies for the necessary period . As for cash flow problems , perhaps if the RITA board had started implementing cost saving reforms and reducing the bloated wage bill from the get go , you know , part of their brief , the " urgent significant reform to revitalize the racing industry , the obvious cash flow issues , wouldn't be so obvious . Perhaps the fact they needed a govt bail out to cover bank repayments suggests that the 12 months leading up to COVID hadn't been a success for them sorting out the bloated beast .

And your RA RA support amuses us no less .

[nomates]

17 minutes ago, JJ Flash said:

Ask him or better still ask WP who is his boss.

I suspect that the Racing bill received priority in the initial stages as that was the primary reason for RITA after Messara report.  Further, no new board would walk in and make any type of major changes at op level until they knew the business they inherited and decided on the correct way forward for that business.

 

Greg

That's a cop out , they went in knowing the industry was in the shit , you said it , it was part of their brief , " to make the significant urgent reform needed to revitalize the racing industry " .

You really are a friggin INFOmercial .

[Chief Stipe]

6 minutes ago, JJ Flash said:

Ask him or better still ask WP who is his boss.

 

I'm asking you as you purport to have more experience and knowledge than the rest of us on this matter.  However that is doubtful especially based on your interpretation of employment law.

7 minutes ago, JJ Flash said:

I suspect that the Racing bill received priority in the initial stages as that was the primary reason for RITA after Messara report.

You "suspect"?!  Didn't you read the terms of reference for the Racing Industry Transition Agency?  Or the MAC for that matter?

The bill was introduced into Parliament in MAY 2019.  So it wasn't on RITA's priority list!!  RITA's brief was to transition the industry towards the recommendations of the Messara report.  Of course one of the tasks of RITA was to move the industry towards profitability and growth.

13 minutes ago, JJ Flash said:

Further, no new board would walk in and make any type of major changes at op level until they knew the business they inherited and decided on the correct way forward for that business.

You write this statement as if it is a fundamental truth when in fact it is far from that.  Numerous new boards brought in with a clear mandate to address issues of insolvency or negative profitability move quickly to make changes.  That is largely their mandate.  As was RITA's.

As for the  RITA's Board "not knowing the business they inherited" is a load of BS.  They had full visibility of the business for a full 6 months BEFORE becoming Board members.  Plus they were appointed for their "experience and knowledge" of the industry!

MacKenzie presumably once had the full support of the Minister who made him Chairman AND CEO of RITA.  A position of incredible power over RITA.  What was done?  Nothing until Covid-19 arrived AND creditors pulled the pin. 

MacKenzie and co were relying on the Bill going through quickly enabling asset pillaging and racefields POC legislation to balance the books and provide new revenue.  They were sitting on their hands waiting for this to happen because they didn't have the gumption to act and do the hard yards.   

[Chief Stipe]

6 minutes ago, nomates said:

Perhaps the fact they needed a govt bail out to cover bank repayments suggests that the 12 months leading up to COVID hadn't been a success for them sorting out the bloated beast

It wasn't bank repayments but payments for the new software and broadcasting.  Two strategic decisions that are affecting all current decisions.

[nomates]

40 minutes ago, JJ Flash said:

That suggests you know absolutely nothing about me.

 

Well tell us about yourself in regards racing , not your achievements , as Mikie wanted off you the other day on the trotting forum across the road . The history that makes you so knowledgeable in regards where we are going wrong in questioning the powers that be .

[curious]

47 minutes ago, JJ Flash said:

Also, if you had a business that received no income for 3 months what would the likely outcome be and what strategy would you use to resolve obvious cash flow issues??

What business are you talking about? RITA was in full operation with cashflow and substantially reduced outgoings and expenses  the last 3 months wasn't it?

Edited June 17, 2020 by curious

[nomates]

2 minutes ago, Chief Stipe said:

It wasn't bank repayments but payments for the new software and broadcasting.  Two strategic decisions that are affecting all current decisions.

Cheers , that much to remember , but same shit , different bucket .

[All The Aces]

Greg

 

The invisible Dean McKenzie has been nothing short of a major disappointment. End of story.  

[Chief Stipe]

3 minutes ago, nomates said:

Cheers , that much to remember , but same shit , different bucket .

They used up their revolving credit facility of $45m which has to be paid up or renewed April 2021.  I would assume they will need a Government guarantee to either repay, renew or refinance.  For that to occur it would probably need an amendment to the new racing reform bill!

[nomates]

4 minutes ago, All The Aces said:

Greg

 

The invisible Dean McKenzie has been nothing short of a major disappointment. End of story.  

Considering the racing industry was treating his appointment like the second coming , major disappointment almost doesn't cover it .

[curious]

1 minute ago, nomates said:

Considering the racing industry was treating his appointment like the second coming , major disappointment almost doesn't cover it .

He took a hospital pass with nothing on the table to improve net revenue and impossible constraints and instructions from the Minister. His mistake was catching the pass when he had to know he'd get flattened. From his silence, I'd say he's still unconscious.

[nomates]

Just now, curious said:

He took a hospital pass with nothing on the table to improve net revenue and impossible constraints and instructions from the Minister. His mistake was catching the pass when he had to know he'd get flattened. From his silence, I'd say he's still unconscious.

Get your point , but at the time i don't know anyone who didn't give a sigh of relief that finally we had some one with with NZ racing nous that would be able to pinpoint the responses required to start fixing our problems . Now to a man they can't understand how we misread it .

[Chief Stipe]

11 minutes ago, curious said:

He took a hospital pass with nothing on the table to improve net revenue

He did have - he could have slashed costs.

[nomates]

11 minutes ago, Chief Stipe said:

He did have - he could have slashed costs.

Which is what everyone said was their biggest concern and the one area they felt could give the industry the quickest boost . Still waiting .

[Huey]

45 minutes ago, nomates said:

Which is what everyone said was their biggest concern and the one area they felt could give the industry the quickest boost . Still waiting .

Yes it was , but the proof will be in the pudding, much of the slashed costs were revenue generating actually essential in some cases , I still think the fat is still around the RITA bone at the expense of those essential services, only time will tell and surely McKenzie hasn't got that wrong?

[Joe Bloggs]

4 hours ago, nomates said:

Are you suggesting that the previously dysfunctional body is no longer dysfunctional , it's as bad as ever , the culture towards participants hasn't changed , you say D Mc has put out more info than the previous lot , but it's all fluff . He was supposed to be the racing man that understood racing and it's issues and change that culture , nothing has changed .

And that the restructuring they have under taken to right the business that " WAS " previously being run into insolvency has been a roaring success and got the industry back on it's feet . What would you call it now . Where have you been , the restructuring they have done has only saved 16% of the bulging costs that were drowning the industry . And don't come back with , they are reviewing senior level staff , because that should have been done from the start of RITA's inception . And don't get me started on the dismantling of information to punters , along with the withdrawal of radio coverage , that's going to grow revenue .

This is why people , like me , are BAGGING them , and i have , as well as many others , tried have communications with them , their not interested . They were supposed to come in and rectify the position , instead they have just added another concrete block to our feet to help keep dragging us down .

You just like a bit of balance , well here's a suggestion on how to get a bit of balance so you can understand the " baggers " , get your arse out of bed every morning at 5am , work your arse off all day , every day , and every day watch as the people paid to manage your industry slowly bleed it to death , all the while taking more and more to manage the industry , all the while not listening to industry participants . Or as an owner watch as your asked to pay more and more to stay in the game all the while watching as returns are eroded by bloated costs and poor vision that is draining industry funds . Or club members who volunteer hours and hours of labour to their club just to see their raced dates go , or their track trying to be sold out from under them .

I know you own horses , or did , but you didn't stick it out in thorobreds for long , went to harness , all because of an extended period of wet weather frustrated you , really , you shouldn't be preaching to people who have their lives invested in this industry . 

Great post, in all reality we should put our cues in the rack because you've said it all........isn't tenure of employment a great thing......Jackson St Petone, the spiritual home of incompetence and arrogance, well at least that building up the top end near Hutt Rd.....you know it makes sense.

[nomates]

1 minute ago, Joe Bloggs said:

Great post, in all reality we should put our cues in the rack because you've said it all

Unfortunately that's the problem JB , we're racing enthusiasts , we never put the cue in the rack , we're eternal optimists , as an owner we're gonna get another one because this one could be the one , and as a punter we keep going because we keep telling ourselves we'll clean up next punt . Some would say stupid or slow learners or suckers or all of them  , unfortunately it's just in blood for a lot of us . Putting the cue in the rack usually never occurs to us , or if it does not a thought we entertain for long .

[curious]

Mine's been in the rack for quite a few years. However, I've dusted it off, run my eye down it and chalked it back up. So look out.

[TIME FOR CHANGE]

I am a critic of Dean McKenzie. 

He had 9 months to makes changes but did not/could not make the tough decisions. Waited until he could blame something else (Covic 19) before he got of his a**e.

Also can someone tell me what he has done to generate income.

Everything he has done is to reduce cost but I have yet to see an action that will give extra income.

The future of racing will be decided in the next few days when Stake money for 2020/21 season is announced.

My prediction for Gallops is minimum stake at 10k but 40% less funding to NZTR so Premier Racing hit hard.

[Dark Beau]

5 hours ago, TIME FOR CHANGE said:

I am a critic of Dean McKenzie. 

He had 9 months to makes changes but did not/could not make the tough decisions. Waited until he could blame something else (Covic 19) before he got of his a**e.

Also can someone tell me what he has done to generate income.

Everything he has done is to reduce cost but I have yet to see an action that will give extra income.

The future of racing will be decided in the next few days when Stake money for 2020/21 season is announced.

My prediction for Gallops is minimum stake at 10k but 40% less funding to NZTR so Premier Racing hit hard.

I hope that you are wrong.
40% less funding = a complete collapse of the industry. 

Edited June 17, 2020 by Dark Beau

[JJ Flash]

So in summary , according to the posts above  all the industries woes are the fault of RITA, its board and CEO.

Quite clearly ive got this all wrong?

 

Greg

Edited June 17, 2020 by JJ Flash

[Joe Bloggs]

Yep, plus all the turds that marched into that emporium wearing a monkey suit and carrying a bullshit bag......those that went before them.

Why? because they didn't show, good governance, transparency, propriety, acumen, etc etc......the other mob at the NZRB must also take responsibility for the incompetence and ineptitude of the RIU......not to mention those that neglected their fiduciary duty......

I've said it before, and I'll say it again, punter confidence starts and ends with good or bad racing integrity, you choose. Just perusing the other NZ based racing forums the level of mistrust and anger directed toward racing management is about 95%, those defending management behaviour?  FFS......that agenda leaves me wondering.

[curious]

7 hours ago, Dark Beau said:

I hope that you are wrong.
40% less funding = a complete collapse of the industry. 

Sooner or later, people have to understand that the industry can only be funded by what it earns. Continued delusion by participants about what the product is actually worth is part of the problem.

[curious]

4 hours ago, JJ Flash said:

So in summary , according to the posts above  all the industries woes are the fault of RITA, its board and CEO.

Quite clearly ive got this all wrong?

 

Greg

What do you think the woes of the industry are due to and therefore a priority to fix Greg?

[curious]

19 hours ago, JJ Flash said:

Further, no new board would walk in and make any type of major changes at op level until they knew the business they inherited and decided on the correct way forward for that business.

 

Greg

I thought the work of understanding the business had already been done by Messara and the MAC and that the boards job was to promptly implement those recommendations. Surely they should have been able to hit the ground running, not spend another 9 months assessing the options?