RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
Tony

Is this happening in Petone

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1 hour ago, Nerula said:

Ok then I will if you will promise to answer the Question I asked. If you renege you get kicked into touch!

OK but i'll rephrase as per value to discussion which includes past tense.

Breeder-yes, owner-yes, owner-trainer-yes, rider-yes (rode own trackwork), publisher-yes, racing website-yes probably some more can't remember. Oh yes punter.

Don't worry about yours I couldn't really care. 

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Racing Victoria putting out plenty of information for participants. Racing Victoria will stand down 40% of permanent staff from Wednesday and they are still racing. Bernard tells us that NZTR staff are working from home. I guess they will be keeping busy so as to collect their full salaries or pay.

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Throughout the world and here we are constantly hearing about companies large and small that are either laying off employees or working reduced hours and being paid less. Sporting organisations that are cutting costs so the sport will survive and be there for the fans etc when this is over. Why have we heard nothing from our Racing codes on their measures to cut costs. Staff wages are any business biggest costs. Go through the NZTR staff list and ask yourself what are these people doing when there is no racing? The communication team, have heard nothing from them as they have nothing to communicate. This must be the same in the Greyhounds and Harness. Surely 1 person could cover the 3 codes communication and still have time to look at Pornhub. The RIU no racing no need for this organisation to have a full complement of staff. There must be a lot of people who have lost their incomes with no racing but do the 3 codes heirachy care? Obviously not. Remember Bernard etc without those at the bottom working their arse off for minimum wages there is no gravy train for you in the future. There are still plenty of fruit picking jobs for the underworked employees of NZ Racing.

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The British Horseracing Authority (BHA) will stand down the majority of its 260 staff during the coronavirus pandemic.

More than 200 people will benefit from the government’s Coronavirus Job Retention Scheme at British horse racing's governing body,

In addition, all remaining staff - including board members - are taking pay cuts.

The BHA says the move will save the industry about £1m per month - a third of its usual operating costs.

And still nothing from Bernard

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40 minutes ago, Tony said:

The British Horseracing Authority (BHA) will stand down the majority of its 260 staff during the coronavirus pandemic.

More than 200 people will benefit from the government’s Coronavirus Job Retention Scheme at British horse racing's governing body,

In addition, all remaining staff - including board members - are taking pay cuts.

The BHA says the move will save the industry about £1m per month - a third of its usual operating costs.

And still nothing from Bernard

Nor Dean McKenzie

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On 3/31/2020 at 6:03 PM, Leggy said:

The silence is eerie and incredible.

Totally.

Most businesses wages and salaries have to be fitted in between sales and cost of supplies. With TAB all they need do is shrink the return to suppliers. 

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He has surfaced for what it's worth:

2 April 2020
 

Our industry has responded swiftly to the impact of COVID-19 and in particular, the restrictions that have been in place over the past week. I know from speaking with many of you that you’ve had to move quickly to adapt to the situation, by moving animals, cancelling race meetings, changing your operations and so much more. But the overwhelming message I’ve heard is that the measures in place provide us with the best opportunity to return to normal - even if it’s clearly that it will be a ‘new normal’.

Like you, our initial focus was to support a coordinated response across racing to keep people safe and racing running, even if it was behind closed doors. Clearly we now have no NZ racing and limited sport and won’t have for at least a month, so RITA's focus has now moved to maximising the product we have available for punters, reducing costs and preparing our business and our industry for a return to racing.

BOARD UPDATE

The RITA Board met yesterday and discussed the performance of the business on the back of COVID-19, the steps being taken to mitigate the impact and consider what the TAB and the industry may look like when racing is back up and running.

Despite a better than expected weekend for the TAB (off the back of some quality racing in Australia), unsurprisingly our turnover remains significantly down on the same period last year. Last week, turnover on racing and sport was down 55% and revenue down 51%, against forecast. The Gross Betting Revenue (GBR) for the week was $3.7m, and while this was better than we had anticipated, had we lost Australian racing we would have been left with about $600k GBR. Clearly we want to see Australian racing continuing for as long as possible, but we are also planning for what many see as the inevitable cancellation of racing across the Tasman.

We’re down about 75% of available product, which obviously impacts the bets we can sell, and when we can’t sell any bets we can’t make any money and in fact with the fixed costs of the business (rent, insurance etc.) continuing, we are losing money. That’s the dilemma we have and that’s why we are focusing so hard on reducing costs;  not only for the next 3 months but for the period beyond that - the ‘new normal’. That is where the collective focus of the industry must be to ensure our long term survival and future growth. 

I've spoken previously of the steps the TAB has taken to cut costs and we continue to maintain this focus. The Board and executive management team have taken pay cuts and a significant number of the organisation's staff are voluntarily taking leave, while in some cases we've had to ask staff with high leave balances to use them. But all these initiatives will only go part-way to closing the gap that we and all other international bookmakers are facing. The Board is steadfastly focused on ensuring the TAB is set up to weather this storm and come out of it with long-term sustainability in mind and continuing to support the 17,000+ Kiwis who depend on it for a livelihood. We are having active conversations with our banks, the Government and the Codes and are reassured by the support our industry has, and by the progress being made, to keep the wheels of commerce turning.

LOOKING FORWARD

We know this crisis will have a lasting impact on the TAB and the industry. We know a return to 'business as usual' is simply not possible. We know that NZ and the world will be very different when we get on top of the virus and we have begun planning what this means for the TAB, as we know the codes have too. 

As you may know, RITA suspended consultation on the 2020/21 draft racing calendar last week and this week, in conjunction with the Codes, we have started working on developing a revised calendar to take account of the impact of COVID-19. This calendar will have the overriding objectives of minimising costs and maximising revenue, underpinned by a continued focus on animal welfare. We’re at an early stage in finalising a revised calendar and no decisions have yet been made. But we expect the reality is we'll be racing at fewer venues to achieve the desired outcomes. This will require difficult and at times, unpopular decisions, but the alternative is stark. 

The industry will be consulted on a draft as soon as it is ready to share, albeit, clearly our timeframe for consultation on any changes will be much shorter than usual. 

CHALLENGING TIMES

The Board also wanted to pass on our thoughts and best wishes to all industry participants and staff of the TAB, the Codes, JCA, RIU and racing industry organisations who are facing stress and hardship as a consequence of this crisis. Please continue to keep safe and well during this period. We'll continue to keep you updated on any important developments.
 

Sincerely,

 

N61NX0XtWni-hAaP41_SjK8RykFww_4AxRBorphT

 

Dean McKenzie

Executive Chair

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7 minutes ago, Leggy said:

He has surfaced for what it's worth:

Nothing will ever be good enough for some. Your sniping/posts is becoming at best  boring at worst tedious.Entirely your right to post on here and elsewhere as you do  but can you come up with something original. You say you want to hear from RITA so here it is and you still bag it. Could you do any better?

PS i posted already that RITA staff had taken pay cuts some time back. Nice to know the tea lady was on the money with her bully to me

 

Greg

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7 minutes ago, JJ Flash said:

Nothing will ever be good enough for some. Your sniping/posts is becoming at best  boring at worst tedious.Entirely your right to post on here and elsewhere as you do  but can you come up with something original. You say you want to hear from RITA so here it is and you still bag it. Could you do any better?

 

Greg

Don't think I bagged it Greg. Just questioned how useful it was at this time to see what people think. I take it you found it helpful.

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I will bag it though if you like. I think it could have been way more specific and transparent. For example, wishy washy terms like the "new normal" aren't helpful. What RITA's current vision of that is would be helpful. Also for example, the half-year report is due out now. Perhaps some specifics about when that will be released and a heads up on what it might tell us. I could go on.

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Just now, Leggy said:

Don't think I bagged it Greg. Just questioned how useful it was at this time.

Haha , your a funny bloke , so your saying " for what its worth" is not bagging it.?

Cut the personal stuff and actually read what it says they are doing , cutting costs at HQ ,making staff take leave and management taking pay cuts to do a job most would not go anywhere near

Isnt the above what everyone in the industry has been waiting for , cost cuts at TAB , now it looks to me as if someone at the top is doing exactly what the industry wanted so i say well done to the NEW RITA board. Trying to fix years of poor governance and mis-management at NZRB in 6 months is simply not attainable and even more so with Convid 19. If anyone thinks its possible they are on some serious chemicals

 

 

Greg

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Thank God for Australian racing...there is bugger all else for punters to bet on.

And reading between the lines, the outlook for some of our racing venues is looking bleak. More ways to skin a cat eh.....? :rolleyes:

But we expect the reality is we'll be racing at fewer venues to achieve the desired outcomes.

This will require difficult and at times, unpopular decisions, but the alternative is stark. 

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If GBR (Gross Betting revenue) last week was $3.7M then multiplied by 52 that is about $180M enough to payout for stakes. What is destroying it is the overheads and excess salaries. RITA is not responsible for what NZTR is doing so why the self adulation by RITA. There are no specifics in the "pay cuts". As I posted March 10 before the topic was fashionable all salaries have to scaled backwards from a maximum of $150,000 PA.

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1 minute ago, TurnyTom said:

You are onto it SD, they are just not in the world we are in - the real world

Other than a tokenistic mention of executive and board salary reductions, there is no suggestion of say 30% staff cuts like Air New Zealand for example. Should have happened 6 months ago and still nothing decisive. What is happening? What's the GBR for the current 6 months cf. last year to date? What's the reduction in operating costs etc.? This is just a bunch of waffle.

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25 minutes ago, Ohokaman said:

Thank God for Australian racing...there is bugger all else for punters to bet on.

And reading between the lines, the outlook for some of our racing venues is looking bleak. More ways to skin a cat eh.....? :rolleyes:

But we expect the reality is we'll be racing at fewer venues to achieve the desired outcomes.

This will require difficult and at times, unpopular decisions, but the alternative is stark. 

So they will now be racing where the horse population is?

So no Ellerslie or Trentham anymore?

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1 minute ago, shaneMcAlister said:

Ellerslie does not kick back into racing till September anyhow.  They are talking the July to August period.

OK, I thought this might have been some logical thinking going forward to reduce costs for participants given prizemoney and participation are clearly going to dwindle.

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I don't know who you are Mr. Flash or Greg as you like to sign yourself, but it strikes me that your posts on this subject are a little bit over sensitive. I presume your indignation is caused by something a little close to the bone.

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