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Ohokaman

Winstons big announcement...

146 posts in this topic

5 hours ago, Trump said:

There are some real wankers in this world - especially the ones that voted for NZF and the ones that think that WP is the Racing Industry saviour. The hero folk are those that voted him out of office in his electorate - they must feel betrayed now that he slunk his way into the DP's chair. 

Trump I have never voted NZF nor do I think Winston is the Racing Industry saviour. Spit out your sour grapes and admit that at least he has far more knowledge of the Racing Industry than the two Racing Ministers we had under the nine year Tory Junta.

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42 minutes ago, poundforpound said:

I listened to his speech yesterday, and it was underwhelming, it was just “trust me, I’ve got this”, and of course the promise to beat up on the IRD over their interpretation of the tax write offs on breeding stock ( that was just a warm fuzzy thank you for the breeders ).

However, in his defense, WP and or Labour owe Racing nothing other than to make the code knock itself into shape, so we should’ve had low expectations.

We have the real estate assets, we have cash at the club level, collectively we can change this code if we want to, but the problem is we don’t have a strategy plan to do it.

Someone needs to gather twenty key players for a weekend, identify where we want to go, what shape we want to be in in ten years, write a seminal document, set some goals, and give the industry some targets, something we can aspire to to make Racing better.

 

How hard could that be?

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7 hours ago, Trump said:

There are some real wankers in this world - especially the ones that voted for NZF and the ones that think that WP is the Racing Industry saviour. The hero folk are those that voted him out of office in his electorate - they must feel betrayed now that he slunk his way into the DP's chair. 

I’d say the most embarrassed of the industries biggest influencers at Karaka yesterday could have been???? 

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1 hour ago, gubellini said:

Trump I have never voted NZF nor do I think Winston is the Racing Industry saviour. Spit out your sour grapes and admit that at least he has far more knowledge of the Racing Industry than the two Racing Ministers we had under the nine year Tory Junta.

Knowing something about it, and DOING something about it are quite different Gub.....

All he offered yesterday was Tax relief for Breeders and a track paid for by......US........:rolleyes:

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1 hour ago, gubellini said:

Trump I have never voted NZF nor do I think Winston is the Racing Industry saviour. Spit out your sour grapes and admit that at least he has far more knowledge of the Racing Industry than the two Racing Ministers we had under the nine year Tory Junta.

Gubes, you need to stop "comparing" political parties and what they did or did not do. Sumich (Nat),King (Lab) O'Connor (Lab) Peter's (NZF-Nat) Guy (Nat) and now Peter's (NZF-Lab), shows that they've all (political parties) had a go and not one of them has achieved much or accepted their collective Ministerial responsibilities in regards to the Racing Industry. What one leaves behind is most important and most relevant. Sadly, over the last 5 Ministers, there has been very little in the way of Change or Reform - bar help for the breeders. It's not sour grapes. Even the $2m races courtesy of WP's $$$ have disappeared. WP has been in Office long enough and is familiar enough to be aware of the problems the RI faces. He had a chance to make some real statement about direction but sadly blew the opportunity at Karaka. Second paragraph in PFP 'a post above probably sums it up. Matter of fact, he should have come out swinging even earlier. Being Foreign Minister won't help either. He'll be in 1A most his time in Office, enjoying the "Baubles " like never before ! Hopefully his pride will see him want to leave his mark on Racing during his last opportunity. His Legacy may then be something he can be proud of and be thanked for by the Industry. PFP is right. The govt owe no favours to Racing but that's not what it's about. 65% of the Country did not vote Labour. Does that mean they should only govern for their 35%? I think not. Racing needs them and it's their responsibility to help and guide the Industry to ensure a stable and viable environment for it and future participants to have a future. Too many are depending on it.

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Parliament doesn't sit for a couple of days yet then initially it will be just like primary school, a lot of back-patting and they'll all relate stories on "what we did in the holidays." Winnie has proclaimed "We need an all-weather track!"- we already know this. It may cost $10million or thereabouts - we already know that. It could be in the Waikato or somewhere else - we already know that. It could happen this day, that day, sometime, never - we know that too. Summary: He's spouted a lot of hot air about something that's been thrashed out here for years and his big announcement is nothing new at all.It's a Claytons announcement (for those with long memories) Bottom line: We're no further ahead today than yesterday or five years ago as he has nothing concrete about any part of it. Same old, same old, sorry folks. Meanwhile between now and when(if) this comes to pass the industry will continue it's steady spiral down the gurgler.

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Don't get me wrong. I'm all for big announcements but there's no point in a big announcement if there's nothing new to say. There'sbeen no political action for two months so if anything like this had been sorted to any degree by early December it should have been announced then. Sure i'm sceptic (or maybe ambivelent) but as Trump has mentioned above, our last six Racing Ministers have collected amounted to precicesly NIL in terms of industry support.

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2 hours ago, Trump said:

Gubes, you need to stop "comparing" political parties and what they did or did not do. Sumich (Nat),King (Lab) O'Connor (Lab) Peter's (NZF-Nat) Guy (Nat) and now Peter's (NZF-Lab), shows that they've all (political parties) had a go and not one of them has achieved much or accepted their collective Ministerial responsibilities in regards to the Racing Industry. What one leaves behind is most important and most relevant. Sadly, over the last 5 Ministers, there has been very little in the way of Change or Reform - bar help for the breeders. It's not sour grapes. Even the $2m races courtesy of WP's $$$ have disappeared. WP has been in Office long enough and is familiar enough to be aware of the problems the RI faces. He had a chance to make some real statement about direction but sadly blew the opportunity at Karaka. Second paragraph in PFP 'a post above probably sums it up. Matter of fact, he should have come out swinging even earlier. Being Foreign Minister won't help either. He'll be in 1A most his time in Office, enjoying the "Baubles " like never before ! Hopefully his pride will see him want to leave his mark on Racing during his last opportunity. His Legacy may then be something he can be proud of and be thanked for by the Industry. PFP is right. The govt owe no favours to Racing but that's not what it's about. 65% of the Country did not vote Labour. Does that mean they should only govern for their 35%? I think not. Racing needs them and it's their responsibility to help and guide the Industry to ensure a stable and viable environment for it and future participants to have a future. Too many are depending on it.

Trump very good analysis. Last time as Racing Minister Winston gave a boost to the elite Breeders. Hoping this time he will give a similar boost to those participants at the coal face. One of his policies pre election was a minimum stake of $15,000 for thoroughbred racing. To achieve this he needs to take measures like imposing export levies on horses sold offshore and putting a levy on stallion fees. Both new streams of income to go directly into Stakes not Administration. I realise his hands are tied because he is beholden to the elite Breeders! Today is a great snapshot of NZ Racing. We have yearlings going around at Karaka for up to one million dollars and horses including one I have a share in going around at Te Teko for a derisory $10,000!

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The elite in NZ  Racing have a very strong hand in the future of racing.

IMO nz Bloodstock are going to play an even bigger hand in racing than they do now;

I predict that private ownership of courses will take place sometime in the future and the socalled  elite will be front and centre of ownership.

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The new track will protect the Industry from "significant losses" apparently.....not alone it won't....

https://www.tvnz.co.nz/one-news/sport/other/ardern-says-new-10m-all-weather-horse-racing-track-protect-significant-losses

Came across this painting today. Looks like Winnie in his new role...."Tally Ho"......:rolleyes:

IMG_2828.JPG

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2 hours ago, hesi said:

While I agree with this, and spending of taxpayer money on Racing, especially after the public perception created by the running of 2, 1 million dollar races, is political suicide, Peters still needs to see through with his policy of a review of the RB costs, to ascertain if it is being run efficiently. Maybe it all comes to nothing, but the review needs to be carried out.

As Trump has pointed out in the past, a 10-15% saving allows a further 20-30 mil available each year for Racing, thats gets you a lot of new facilities, track upgrades and promotion each year

I don't think review of the RB is a policy matter. It is his job as Minister of Racing. The 5 year Performance and Efficiency Audit is due this year and the Minister is supposed to approve, (or set if he doesn't approve the Board's proposals), both the terms of reference and appointment of the auditor. This has been a whitewash the last couple of times, so hopefully WP will be more proactive.

As I've previously said, they will need to find $20+ mil anyway to avoid continuation of current borrowing for stakes and repay what they have advanced, so I'm not sure there will be any extra, even in the best case scenario per Trump's suggestion. The jury's out, but I'm not hopeful that a review will find anything like that.

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35 minutes ago, Ohokaman said:

The new track will protect the Industry from "significant losses" apparently.....not alone it won't....

https://www.tvnz.co.nz/one-news/sport/other/ardern-says-new-10m-all-weather-horse-racing-track-protect-significant-losses

Came across this painting today. Looks like Winnie in his new role...."Tally Ho"......:rolleyes:

 

When asked why the Racing Board or TAB weren't paying for the new track, Ms Ardern said there were issues around the entities taking the proceeds of gambling to fund their own projects.

"We've been explicit about barring that from going straight back into the racing industry so that community organisations benefit rather than the industry itself," she said.

Huh?? Perhaps she should read the Act. Don't see where it says proceeds should go to community organisations and not straight back to racing as she claims. Perhaps she and Winnie should have had a pow wow before she spouted off on national TV?

Objectives of Board

 

The objectives of the Board are—

(a) to promote the racing industry; and
(b) to facilitate and promote racing betting and sports betting; and
(c) to maximise its profits for the long-term benefit of New Zealand racing.

A  saying generally credited to Abraham Lincoln springs to mind.

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(c) to maximise its profits for the long-term benefit of New Zealand racing.

A  saying generally credited to Abraham Lincoln springs to mind. Perhaps the PM hasn't read the Racing Act or hasn't been advised by her Racing Minister?

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Hesi, please tell me you are wrong.

You have stated that the NZRB generated $349m, then spent $205m, not a penny of which went to the three racing codes.

Hesi, if you are correct then you have illustrated a giant stuff up.

This is scandalous!

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1 hour ago, Insider said:

 

A comment by Banksy, although the NZ Racing fraternity probably feels the same. 

I was thinking of the one that begins "Better to remain silent and be thought a fool..."

Btw, I thought it was a good and fair question by the interviewer about the expenditure of taxpayer money. It deserved an honest answer. I'd like to hear one.

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5 hours ago, Tauhei Notts said:

You have stated that the NZRB generated $349m, then spent $205m, not a penny of which went to the three racing codes.

I'm not sure the sequence is entirely correct there.  I suspect they need to spend some money to generate the revenue.

Whether they're spending too much to generate that revenue is the relevant question (which Hesi asks in his subsequent post).  Hesi, not sure how you tell if its a good result or not - comparison to plan or prior year results is kind of meaningless - perhaps benchmark against similar sized betting organisations around the world?

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How do you measure operating costs v profit ?

I’d have thought you’d need to find similar global entities, Western Australia maybe, or Galop France, probably the latter actually as their industry seems to be set up similar to ours.

That’d be the only fair way to measure NZRB costs.

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Guest 2Admin2

Although Taxinda seemed confused in her statement I believe she was alluding to the financial benefit NZRB gets from pokies.  I wouldn't be surprised that any assistance offered by Government will be done on the condition that NZRB relinquishes their pokies license or totally commit to putting that revenue directly back to the community they derived it from.

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Guest 2Admin2
7 minutes ago, poundforpound said:

How do you measure operating costs v profit ?

I’d have thought you’d need to find similar global entities, Western Australia maybe, or Galop France, probably the latter actually as their industry seems to be set up similar to ours.

That’d be the only fair way to measure NZRB costs.

I disagree.  Why not compare to those entities you mention and NZ banking operations.  The latter have a lot in common with the NZRB operation but operate on much lower yields.

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