RIP Gisborne

[All The Aces]

3 hours ago, curious said:

I suppose it depends how much owner and punter business the industry loses from the area as a result compared with the cost of the industry properly funding those meetings so they are nor run at a loss by the club.

That's a totally different matter. At present they are losing money and they are saying they will be saving money by racing at Hastings.  

[curious]

Why is it a different matter? It's about the long term benefit of the industry. Saving money on a meeting to meeting basis may not contribute to the longer term big picture.

 

[Chief Stipe]

15 minutes ago, curious said:

A report on what?

 

The Select Committee report is due 8 June 2020.

[Chief Stipe]

22 minutes ago, All The Aces said:

That's a totally different matter. At present they are losing money and they are saying they will be saving money by racing at Hastings.  

But why are they suddenly losing money?  Why did their track rental and track expenses more than double in 2018?

[curious]

Because they sold the track and had to rent it back?

[Huey]

7 hours ago, All The Aces said:

That's a totally different matter. At present they are losing money and they are saying they will be saving money by racing at Hastings.  

So are 95% of racehorse owners in this country.

[Chief Stipe]

15 hours ago, curious said:

Because they sold the track and had to rent it back?

That makes sense.  Is that where they got their $2m investment from? 

Who owns it now?

[curious]

It was sold to a winery which is why it has a vineyard in the middle and yes, that's where they got the 2 mil.

[curious]

The PBTC significantly improved its financial position when it sold the Makaraka course in 2010 and obtained a long-term lease. The club’s investment portfolio has suffered a hit recently but still has a value of more than $1.5 million.

[Chief Stipe]

58 minutes ago, curious said:

The club’s investment portfolio has suffered a hit recently but still has a value of more than $1.5 million.

But that wasn't due to the unprofitability of racing.  I note in 2018 their expenses went up when the joined the Summer of Racing Programme and Butch Castles helped with raceday management.

[Roger Sugrue]

https://www.stuff.co.nz/sport/121756369/racing-reform-bill-plan-for-struggling-clubs-to-have-more-say-on-future-and-assets

 

[Huey]

16 hours ago, Roger Sugrue said:

https://www.stuff.co.nz/sport/121756369/racing-reform-bill-plan-for-struggling-clubs-to-have-more-say-on-future-and-assets

 

The laugh is these clubs aren't the ones that are struggling!

[nomates]

PBTC have said that when they race at Hastings they don't expect too many to travel down from Gisy , what the fucks the point then . They will simply become a token race club . As many at RACE already are . 

[Tiger Tiger]

7 hours ago, nomates said:

PBTC have said that when they race at Hastings they don't expect too many to travel down from Gisy , what the fucks the point then . They will simply become a token race club . As many at RACE already are . 

the point is to support the industry and its local connections, you should try it 

chief - andrew castles left HBRC in March, PBTC were advised of the racedates (or lack of) in May - so what dots are we joining and what do they show ?

[nomates]

10 hours ago, Tiger Tiger said:

the point is to support the industry and its local connections, you should try it 

 

How is PBTC going to Hastings supporting it's local connections , do you think their sponsors are going to stay on board .

The point is they wont be supporting the industry because very few members if any will travel to Hastings to watch "their " race meeting , their president said this , along with all the locals who will stay at home . They wont have a bet to support their local club because they mostly wont be able to access form for " their " meeting , if they do have a bet they wont be able to hear the races on the radio , if they cant afford sky they wont be watching them at home . They certainly wont be able to access a day at the races which for many young people is their first and annually their only ability to witness racing up close , the ones who grow up to be the next generation of punters , some them might even have got the bug to get into the industry . But who pushed them into this situation .

The coal face participants supported this meeting along with Wairoa , used it as an educational tool  for young horses having a trip away . Many of the participants are disappointed that this week has been shelved . 

There are wider implications to taking racing out of the provinces , Hastings may get a small gain from getting another raceday but the damage to the greater product is much more .

As for your last sentence , iv'e got no idea what your on about .

[Chief Stipe]

Hawkes Bay Racing Inc.  $500k in salaries and wages.  39 employees.

Covid-19 wage subsidy:

Hawkes Bay Racing Inc. is one of the better clubs financially in NZ.  However they still have a high cost model and may suffer from the sink hole at Awapuni as the latter will need more racedays to be profitable.

Can anyone name another business where you have $500k in salaries and 39 employees and only sell their products on 14 days a year?

[Joe Bloggs]

Gee, when you look at the bloated salaries on Jackson St and Parnell AKL 39 into 500k doesn't seem too bad Chief. If salaries were performance based the Petone mob would owe us money.

[Chief Stipe]

25 minutes ago, Joe Bloggs said:

Gee, when you look at the bloated salaries on Jackson St and Parnell AKL 39 into 500k doesn't seem too bad Chief. If salaries were performance based the Petone mob would owe us money.

$350k of that $500k was for Senior Management.

[Huey]

3 hours ago, Chief Stipe said:

Hawkes Bay Racing Inc.  $500k in salaries and wages.  39 employees.

Covid-19 wage subsidy:

Hawkes Bay Racing Inc. is one of the better clubs financially in NZ.  However they still have a high cost model and may suffer from the sink hole at Awapuni as the latter will need more racedays to be profitable.

Can anyone name another business where you have $500k in salaries and 39 employees and only sell their products on 14 days a year?

Good question, I guess most of this is made up of tote staff ?

[Huey]

3 hours ago, Chief Stipe said:

Hawkes Bay Racing Inc.  $500k in salaries and wages.  39 employees.

Covid-19 wage subsidy:

Hawkes Bay Racing Inc. is one of the better clubs financially in NZ.  However they still have a high cost model and may suffer from the sink hole at Awapuni as the latter will need more racedays to be profitable.

Can anyone name another business where you have $500k in salaries and 39 employees and only sell their products on 14 days a year?

What puzzles me is, what do these people do in between race meetings, especially the CEOs? There are significant savings to be made by using a shared services model on NZ racing clubs , surely?

Once the race meeting model is set up outside of the whatever the marketing angle is in the meeting it would near run itself.

[Dark Beau]

17 hours ago, Chief Stipe said:

Hawkes Bay Racing Inc.  $500k in salaries and wages.  39 employees.

Covid-19 wage subsidy:

Hawkes Bay Racing Inc. is one of the better clubs financially in NZ.  However they still have a high cost model and may suffer from the sink hole at Awapuni as the latter will need more racedays to be profitable.

Can anyone name another business where you have $500k in salaries and 39 employees and only sell their products on 14 days a year?

Gee wiz, that’s unbelievable. How would that operation have 39 employees unless they are claiming for tote operators for the meetings canceled. 

[Weasel]

20 hours ago, nomates said:

How is PBTC going to Hastings supporting it's local connections , do you think their sponsors are going to stay on board .

The point is they wont be supporting the industry because very few members if any will travel to Hastings to watch "their " race meeting , their president said this , along with all the locals who will stay at home . They wont have a bet to support their local club because they mostly wont be able to access form for " their " meeting , if they do have a bet they wont be able to hear the races on the radio , if they cant afford sky they wont be watching them at home . They certainly wont be able to access a day at the races which for many young people is their first and annually their only ability to witness racing up close , the ones who grow up to be the next generation of punters , some them might even have got the bug to get into the industry . But who pushed them into this situation .

The coal face participants supported this meeting along with Wairoa , used it as an educational tool  for young horses having a trip away . Many of the participants are disappointed that this week has been shelved . 

There are wider implications to taking racing out of the provinces , Hastings may get a small gain from getting another raceday but the damage to the greater product is much more .

As for your last sentence , iv'e got no idea what your on about .

Hastings IS the provinces!!! I think Gisborne has done the right thing, though ultimately should merge with HBRC.. the population base is just too small; the area too isolated ad the costs too high to continue to race at Gisborne. Thats why they sold the land and invested the cash; Only travel subsidies etc kept them viable these last 10 years. If the locals want to go to their local course, hold an equalisator meeting ...a good day out as long as there are enough thoroughbreds in the area ..oh, hang on, there aren't!

Adapt or die. Gisy have adapted well...just gotta keep their hands on their cash

[Freda]

3 hours ago, Dark Beau said:

Gee wiz, that’s unbelievable. How would that operation have 39 employees unless they are claiming for tote operators for the meetings canceled. 

Hastings does have incumbent trainers, although not sure of the scale. 

[Noodlum]

4 hours ago, Freda said:

Hastings does have incumbent trainers, although not sure of the scale. 

You can't claim for those.  

[Noodlum]

On 10/06/2020 at 8:53 AM, Chief Stipe said:

Hawkes Bay Racing Inc.  $500k in salaries and wages.  39 employees.

Covid-19 wage subsidy:

Hawkes Bay Racing Inc. is one of the better clubs financially in NZ.  However they still have a high cost model and may suffer from the sink hole at Awapuni as the latter will need more racedays to be profitable.

Can anyone name another business where you have $500k in salaries and 39 employees and only sell their products on 14 days a year?

How do these clubs qualify for the subsidy?  Are they saying because the TAB is down in revenue so are we?