LightsOut

John Allen please explain....

32 posts in this topic

3 hours ago, von Smallhaussen said:

, I would have thought that is more the job of NZTR rather than RITA formerly NZRB (aka the TAB )

Yes for sure ,  NZTR  will implement the changes but the orders will come from RITA who will be following the Messara report .

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15 hours ago, tripple alliance said:

You ask the question , where's the money coming from , well that simple , it's from racefields and the POC tax , IF and that's a big IF this strategy is successful then we will be between $50 and $70 million a year better off , only time will tell if this is a fairy tale or not .

Assuming it proves itself then that's  the time to look at doing some fine tuning .

The only reason the now non existent  RB could be described as exposed is because they invested $40 million in a new business strategy and bankrolled stakes to a minimum of $10 , all based on racefields and the POC tax , they weren't to know Winston would delay the introduction of this strategy costing the industry many many millions in lost profits. 

I do remember Winston and many in the industry running around quoting each other on racefields , ITs NOT FIT FOR PURPOSE , well that must have been wrong as it's gone through parliament exactly as it was initially set out .

Tripple, where do you get $ 50 - $70 from? Not a show in the next few years.

 Go back ten years and look at the Balance Sheet of the Racing Board, that will explain to you how idiot after idiot believed they could expand the make things improve and work well. All they did, bankers and the unprofessionals like John Allen was to use reserves completely, sell the assets (eg. purpose built building) and then borrow money to exist on their total misunderstanding of the industry. Between the Stiassny (sp?) and the Hughes techno disasters, these Wally’s have spent in excess of $60 million designing a platform that we did not need to make, it existed already. Not only that, they have warranted their own self importance by increasing the overhead of their own operations to a level that now almost equals the total local turnover of our code. The plonkers have a belief they were doing a good job...........................Beggars belief that they thought they were doing a good job.

Racefields and POC are going to provide input, but we have to get the costs and overheads out of the management pronto, but that is going to cost money as JA and his sycophants will have very profitable exist clauses no doubt. I would say 20% cost deletion out of management, but the upfront cost will have to met and amortised over time.

But where does the money come from........? I’m picking we won’t last next season without a significant input from somewhere......that will have to be borrowing, or maybe the Jones fund, but it will certainly have to be a reduction in races staged as we will not have the funds to run them. Accounting 101.

 

Just saying

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On 7/6/2019 at 7:38 AM, tripple alliance said:

You ask the question , where's the money coming from , well that simple , it's from racefields and the POC tax , IF and that's a big IF this strategy is successful then we will be between $50 and $70 million a year better off , only time will tell if this is a fairy tale or not .

Assuming it proves itself then that's  the time to look at doing some fine tuning .

The only reason the now non existent  RB could be described as exposed is because they invested $40 million in a new business strategy and bankrolled stakes to a minimum of $10 , all based on racefields and the POC tax , they weren't to know Winston would delay the introduction of this strategy costing the industry many many millions in lost profits. 

I do remember Winston and many in the industry running around quoting each other on race-fields , ITs NOT FIT FOR PURPOSE , well that must have been wrong as it's gone through parliament exactly as it was initially set out .

That's not actually quite right. There were a number of glaringly obvious issues with the proposed Bill under the incumbent Minister and RIB. Any idiot could have identified these and IF you are looking to change the game then the previous Bill wasn't fit for purpose. It's been a very tricky road for the RITA gentle-people and there are a number of pot holes to dodge, some of which could envelope a bus, but at least we have a new hymn sheet because the previous one was unworkable with the rubbish we had/ still have in the various industry board's personnel. Swing and miss Jackson should go. He has not achieved one effective initiative in all the years he has been involved. We need courageous leadership, splattered with experience and knowledge.

In another post P4P was right in something so simple as having racing/ horse people front racing/ horse presentations. Instead we have idiot presenters who know sweet FA and the producer knows sweet FA so no-one knows sweet FA about what they are meant to be promoting. That means the top hasn't known sweet FA because if they did, this wouldn't have happened in the first place.

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9 hours ago, John Clydesdale said:

 

 Go back ten years and look at the Balance Sheet of the Racing Board, that will explain to you how idiot after idiot believed they could expand the make things improve and work well. All they did, bankers and the unprofessionals like John Allen was to use reserves completely, sell the assets (eg. purpose built building) and then borrow money to exist on their total misunderstanding of the industry. Between the Stiassny (sp?) and the Hughes techno disasters, these Wally’s have spent in excess of $60 million designing a platform that we did not need to make, it existed already. 

 

It wasn't only Stiassny and Hughes, it was also Chittick, Hands on Hansen, Acklin, Bettle and everyone one else who had no idea. Legacy is not a rock that is easy to hide under.

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On 7/5/2019 at 7:07 PM, tripple alliance said:

Well a small portion of sarcasm for sure but also a dose of reality , those at the coal face working for the RB will be very pleased to read Allen's  little gem , their thoughts must be , we are needed and here to stay . As for getting excited , yep those who think the demise of the RB was the cure for all of racing ills will be in a little shock if Allen's comments that the 700 are here to stay are correct which moves us on to what is the true purpose of RITA .

Now look what's happened , the cost to the industry of Winston delaying racefields must be around $50/$70 million (forecast benefits from r/fields and poc levy)    plus the stake increases that were applied to lift minimum stakes to 10k so if we are to believe the forecast savings of $50/$70 million plus $12 million for stakes then the RB is out of pocket by around $60 million ????? , it's no surprise the RBs reserves are down the drain but that's the plan . 

Now given the fact that Recefields / POC tax are 100percent RB strategy and have been bought into law confirming this then what is RITAs role , RITA is locked into RB strategy so no room to move on financial matters . 

So that leaves RITA with only one purpose , the restructuring/closing of  tracks and track development , the rest has been done for them .

I thought this might be a better guide to what Winstons delaying of race fields has cost the industry for propping up stakes , it's not as bad as I thought , it's only $11 million a year and that borrowing will continue until racefields and the poc tax make a return , how long will that be ?? . Now an easy solution would be for RITA to stop borrowing and force  stakes back down to the $7K  minimum , will they do it , anyones guess but don't hold your breath any quick improvement , improvement may be years away and no use to people of my age .

So between stakes and the new betting platformt one of Allen’s Racing Industry Conservation meetings (the travelling circus) at Matamata last year when he claimed NZRB hadn’t gone and borrowed money to prop up the minimum stakes to $10,000 – the $22 million over two years. But when questioned further by one of the seven attendees it turned out that NZRB already had a substantial overdraft facility and they were merely using that 

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On 7/5/2019 at 9:08 AM, LightsOut said:

I have seen plenty recover from heart attacks but guess what they don't last long. #$%# me he is going to say as much crap as he can to extend his lifeline we have seen it time and time again. Last week he said The outgoing Board are leaving the organisation on a strong footing". Hello that one  statement throws all his previous quotes in the bin where they belong.

Biggest problem ha ha age of the site user $%#^ me you couldn't make  that up. How about the biggest problem was the age of the CEO and Board Chairperson who approved it. If the age was the problem how the hell did they use the earlier platform but accordingly to you they struggle with this one. Hello John Allen said the new platform would be more user friendly,so your saying just another spin story?  

The Board goes first, then the CEO, then the GM's then there is a reduction in staff that's what happens in the real world where we live not in a Grimms Brother fairy tale.  The NZRB has no money they owe an o/d of $25 million due for repayment next year, sold all their assets, have a crap betting platform that cost millions in overruns and isn't returning the dollars promised and is actually proving to be a liability when you take into account  the annual cost to maintain and run it so its a good thing your not connected to the Industry when you say it doesn't matter if it takes 10 years  or more as long as it pays for itself. That's the clueless mentality that has put the Industry into the position we see it in today. 

Take all the above into account no its not automatic re staff losing their jobs its blatantly obvious. Through  possible outsourcing which = job losses.

 And guess what John Allen has a cheek giving his employees false hope, he won't have any say in what is going to happen RITA are there because he needed someone to hold his hand.  

The outgoing Board are leaving the organisation on a strong footing" ha ha you poor delusional soul if you want to believe what John Allen says.If you do then you and John Allen have something in common your both clueless.

Poor John Allen,nobody loves him but he deserves some credit,as a toddler he was apparently reading and writing while still wearing nappies,at the age of 11,and as for his soon to be unemployed staff they could end up saving the human race from a brain eating zombie invasion(we lure the zombies to petone and they will starve to death)

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