An Important Topic

[Stables 577]

I see, I would doubt their eligibility for the subsidy, they are all still operating even if most working at home

[Ohokaman 5,844]

Wage Subsidies paid to date under the Covid 19 scheme.

https://services.workandincome.govt.nz/eps/search

[Leggy 4,093]

44 minutes ago, Stables said:

I see, I would doubt their eligibility for the subsidy, they are all still operating even if most working at home

That's not the criterion. It is if the revenue of the business has dropped 30% or more from a year ago.

[Ohokaman 5,844]

When you start searching racing clubs, studs, trainers etc you realise what the cost of this is going to be..

.

AUCKLAND RACING CLUB INC

80

$542,560.80

16/04/2020

 

Business Name	Number of employees paid	Total amount paid	Last updated
CAMBRIDGE JOCKEY CLUB	16	$109,644.00	16/04/2020

 

Business Name	Number of employees paid	Total amount paid	Last updated
CANTERBURY JOCKEY CLUB	41	$242,940.00	16/04/2020

 

usiness Name	Number of employees paid	Total amount paid	Last updated
TE AKAU STUD LIMITED	62	$421,687.20	16/04/2020

[Leggy 4,093]

It's a drop in the ocean of the what 9 billion they have paid out in wage subsidies?

[tasman man 11 979]

Throw in what businesses like Air NZ , the Warehouse etc ,Rugby Unions etc etc are going to get then RITA must surely be able to at least get a hefty loan should that be the request !

Not only is it a drop in ocean as described above ,but it affects a whole Industry , the jobs ,the Associated jewels e.g. Breeding and exports....a perfect time to start with a clean sheet .

Really is a good time to get ruthless....the redundancies for the dead wood will hardly be noticed.

Also there could be some highly skilled racing /wagering types on the pile from other vocations !

[Stables 577]

I agree Tasman Man, but is there a person in the NZ racing industry capable of driving the clean sweep with a sufficient amount of ruthlessness

[eljay 1,720]

If you can't get the present situation working then scrap it and start afresh 

Never had these problems when the codes ran the TAB.

Dreams can be very pleasant. 

First problem to grapple with is the "appointee" system.    Jobs for the boys and girls or friends or handouts for favours.      It surely hasn't worked.

?Go back to the old Racing Board where it was totally run by the codes.   

A huge re-vamp of the RIU which appears to cost more than the Industry earns.  

[Gruff 2,801]

Interesting what you find on that site Hokes 

 

[Huey 2,037]

1 hour ago, Ohokaman said:

When you start searching racing clubs, studs, trainers etc you realise what the cost of this is going to be..

.

AUCKLAND RACING CLUB INC

80

$542,560.80

16/04/2020

 

Business Name	Number of employees paid	Total amount paid	Last updated
CAMBRIDGE JOCKEY CLUB	16	$109,644.00	16/04/2020

 

Business Name	Number of employees paid	Total amount paid	Last updated
CANTERBURY JOCKEY CLUB	41	$242,940.00	16/04/2020

 

usiness Name	Number of employees paid	Total amount paid	Last updated
TE AKAU STUD LIMITED	62	$421,687.20	16/04/2020

Someone will tell me I'm probably looking at it incorrectly but a higher wage bill for the ARC than the biggest racing stable in the country? 

[eljay 1,720]

That probably includes the function business as well as racing.

[Ohokaman 5,844]

4 minutes ago, Huey said:

Someone will tell me I'm probably looking at it incorrectly but a higher wage bill for the ARC than the biggest racing stable in the country? 

Correct. Numbers game.

[Nerula 1,403]

 

 

 

It is a slow day in the small Oklahoma town of Pumphandle, and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit.

 

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk, saying he wants to inspect the rooms upstairs to pick one for the  night.

 

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher. 

 

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. 

 

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the  - Co-op. 

 

The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit. 

 

The hooker rushes to the hotel and pays off her room bill with the hotel owner. 

 

The hotel proprietor then places the $100 back on the counter so the traveller will not suspect anything. 

 

At that moment the traveller comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves. 

 

No one produced anything. No one earned anything...   However, the whole town is now out of debt and now looks to the future with a lot more optimism. 

 

And that, ladies and gentlemen, is how a Stimulus package works. 

[tripple alliance 1,026]

40 minutes ago, Nerula said:

 

 

 

It is a slow day in the small Oklahoma town of Pumphandle, and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit.

 

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk, saying he wants to inspect the rooms upstairs to pick one for the  night.

 

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher. 

 

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. 

 

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the  - Co-op. 

 

The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit. 

 

The hooker rushes to the hotel and pays off her room bill with the hotel owner. 

 

The hotel proprietor then places the $100 back on the counter so the traveller will not suspect anything. 

 

At that moment the traveller comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves. 

 

No one produced anything. No one earned anything...   However, the whole town is now out of debt and now looks to the future with a lot more optimism. 

 

And that, ladies and gentlemen, is how a Stimulus package works. 

Not quite , you see the tourist had a $100 to spend , real money, cash in hand , not borrowed . Comrade cindy and her band of journeymen are borrowing $50 BILLION to hand out , the problem is some how we have to pay it back . TAX increases would be the obvious starting point, perhaps GST 20% / 25% who knows but the repayments will be coming out of every ones pocket , there won't be much left to pay the training fees .

 

[Ohokaman 5,844]

2 hours ago, Gruff said:

Interesting what you find on that site Hokes 

 

The rorts will be brobdingnagian........

 

[Aaron Bidlake 760]

Would the easiest and most cost effective way be for the clubs to run there own ship and just simply sell the fields to the TAB who also run there own ship. A club who run a race day pay all the required staff like commentators, gate staff and so on. They then sell the TAB the fields for that race meeting.  Probably the best way of sorting what clubs would sink or swim as well and will continue in to the future. 

[Ohokaman 5,844]

Good to see there is a freeze on recruitment.....600 obviously not enough....

Pre Alert Level 4 (March 22)

• A total recruitment freeze and a hold on RITA’s contract with its recruitment partner put in place
• Oncourse presenters moved to present from studio
•  Use of non-essential contractors and casuals ceased 
• Staff travel and payment of certain discretionary allowances stopped (including overtime)
• All non-essential expenditure ceased
• Presenter-led Trackside shows cancelled
• Trackside radio moved to simulcast of Trackside Television

 Post Alert Level 4 (March 23 to current)

•  More than 3,400 leave days approved for the period through to the end of 2020 following a request for all TAB employees to use entitled annual or alternative leave
• All staff asked to consider taking voluntary unpaid leave or reduced hours
• Reduction in remuneration for RITA Board, Executive Chair and Executive Management Team 
• Trackside radio programming on AM and FM suspended on April 12
• Trackside production scaled down with programming largely replaced with a live feed of Sky Australia coverage
• Active negotiations with landlords, suppliers and other services to secure relief or amended conditions
• Accessed the Government’s wage subsidy programme 
• All non-essential capital expenditure on hold through to 30 June 2020 (at the earliest )

[Trump 2,741]

19 hours ago, Huey said:

Someone will tell me I'm probably looking at it incorrectly but a higher wage bill for the ARC than the biggest racing stable in the country? 

It will include the Events Centre as well. 

[Red Rum 1,833]

18 hours ago, tripple alliance said:

Not quite , you see the tourist had a $100 to spend , real money, cash in hand , not borrowed . Comrade cindy and her band of journeymen are borrowing $50 BILLION to hand out , the problem is some how we have to pay it back . TAX increases would be the obvious starting point, perhaps GST 20% / 25% who knows but the repayments will be coming out of every ones pocket , there won't be much left to pay the training fees .

 

Wouldn't 25 pc GST stop folks from spending on luxury items , cutting back therefore grinding the economy even more to a halt . Less tax more spend then more tax income . Kind of like 10 per cent of 300 is better than 25 per cent of 100.

[Nerula 1,403]

The problem is the money will be borrowed off shore and has to be paid back there. If they print loads of money that will devalue the dollar making imports dearer and exports easier to sell. I'm no enonomist but the best answer is to export our way out of debt

Taxing capital is not the solution as that is needed for productive investment. The best solution I see is to provide an incentive for labour in the export industry. Not a incentive for companies but right down at worker level. Then exporters can attract and hold staff.

 

[2Piper 408]

22 hours ago, Leggy said:

That's not the criterion. It is if the revenue of the business has dropped 30% or more from a year ago.

Not necessarily. My boss has to top up his employees wages to the 80% of normal wage after including the $588 wage subsidy from the govt for each employee . This still still puts him out of pocket probably to the tune of $25 k per week while no production is coming in .  No production , no income . Therefore he is entitled to recieve  the business subsidy too.  IF he doesn't get that then I will expect to be  laid off after the 12 weeks of wage subsidy.

[shaneMcAlister 1,425]

11 minutes ago, 2Piper said:

Not necessarily. My boss has to top up his employees wages to the 80% of normal wage after including the $588 wage subsidy from the govt for each employee . This still still puts him out of pocket probably to the tune of $25 k per week while no production is coming in .  No production , no income . Therefore he is entitled to recieve  the business subsidy too.  IF he doesn't get that then I will expect to be  laid off after the 12 weeks of wage subsidy.

Correct, no production no income so he must be at least 30% behind prior year.

[tasman man 11 979]

2 hours ago, Trump said:

It will include the Events Centre as well. 

We know that but the average NZ racing follower doesn't.

Auckland RC last year had 19 race meetings attended by 57,000 people.

They had 826 'events' which were attended by 133, 000 people. A lot of regular Food & Bev staff.

[Red Rum 1,833]

Is there a possibility of a bail out for the TAB ,   then if that's the case would the NZ taxpayer , those lucky enough still to be earning to pay taxes , have those tax dollars instead of going to health etc be directed to Paddy Power payments . I lost a lot over the years to Paddy Power but had a chance of getting some back .  How would that sit with the taxpayer .

[Huey 2,037]

1 hour ago, Red Rum said:

Is there a possibility of a bail out for the TAB ,   then if that's the case would the NZ taxpayer , those lucky enough still to be earning to pay taxes , have those tax dollars instead of going to health etc be directed to Paddy Power payments . I lost a lot over the years to Paddy Power but had a chance of getting some back .  How would that sit with the taxpayer .

100/1 to get a bail out surely, communism and gambling surely not?