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Barry Lichter

TAB to cut 30% of its staff

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3 hours ago, poundforpound said:

Here’s the most disturbing statement from Dean McKenzie

 

“The reality is the TAB will need to be a leaner, more efficient business with fewer roles, and focused on driving our core wagering and gaming business.

 

That statement makes it absolutely clear that the list cost, highly profitable, pokie side of their business is a priority.

If ever you needed or wanted a reason to turn your back on the industry it’s right there, the filthy exploitative pokies.

Where’s the morality, where’s the sense of decency, where’s the integrity ?

When your focus is on the exploitation of vulnerable people, when your target has collateral damage to kids who cannot fend for themselves, then your business model is worthy of nothing but contempt.

The day this country bans pokies ( and smoking ) will be the day we can proudly proclaim that we’re world leaders who genuinely care about the less fortunate and most vulnerable members of society...in the interim....we’re no better than those who trade in the currency of any addictive substances at the expense of the pathologically addicted.

 

WA in Australia have no pokies in the state bar the casinos.  I can live with that. 

My hometown of Huntly does not need the 100 pokie machines in it. 

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1 hour ago, We're Doomed said:

I did wonder myself how they were so profitable and yet they had hardly any money to pay out to their codes, which was the only reason they were created in the first place. They would obviously be a very successful operation if they could reduce costs and not have to pay anything to the racing industry.

True. Add in no duty, no licence fees and no income tax, I'd be rushing in to buy shares if they didn't have to pay out to the racing industry. Might even approve a charitable donation for goodwill purposes.

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35 minutes ago, JJ Flash said:

This is the great conundrum racing authorities  in NZ face.

Everyone says it's too expensive at the administrative level and the business needs to cut costs. The problem is who goes and what is the cost cutting outcome at the end  when the razor has done it's supposed job.

I'm picking a lot of.moans in the future about cost cuts and reduced services etc.

In short you get what you pay for and thus can't have it both ways.

 

Greg

Greg , we are not getting what we pay for.

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1 hour ago, shaneMcAlister said:

Totally feel for people losing their jobs.  The pity here is that Rita should have done this 9 months ago when the job market was a lot more buoyant.  Covid19 was needed for job cuts.

You are not the full quid if you think that's the way a transitional body works. You and others have historical gripes that should rightly be directed at Glenda and her board and the previous CEO's. You do your own IQ's a serious disservice by attacking those that are implementing the changes that everyone of the cost cutters wanted

As i said peeps will moan when cost cuts are introduced so you cant have it both ways. Reading RITA releases they have gone form 700 staff in November to 585 pre Covid and now have announced a further 30% cut in staff numbers.

As for the latter bit how do you know that the current RITA team were not already pruning the tree. Clue.Previous NZRB CEO and CFO are not there and have not been for some time. I would hope that you would see that the current mob inherited a shambles. It was basically insolvent, due to some serious debt, but which can deliver funds to industry once  serious cost cutting is undertaken and racing and sport reopens to its customers to generate returns on the income side.

Just my view of things

 

Greg

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1 hour ago, shaneMcAlister said:

WA in Australia have no pokies in the state bar the casinos.  I can live with that. 

The WA TAB are currently for sale and have been for some time so heres an opportunity for you to purchase a thriving assett:rcfe-happy-1:

 

Greg

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1 hour ago, JJ Flash said:

You are not the full quid if you think that's the way a transitional body works. You and others have historical gripes that should rightly be directed at Glenda and her board and the previous CEO's. You do your own IQ's a serious disservice by attacking those that are implementing the changes that everyone of the cost cutters wanted

As i said peeps will moan when cost cuts are introduced so you cant have it both ways. Reading RITA releases they have gone form 700 staff in November to 585 pre Covid and now have announced a further 30% cut in staff numbers.

As for the latter bit how do you know that the current RITA team were not already pruning the tree. Clue.Previous NZRB CEO and CFO are not there and have not been for some time. I would hope that you would see that the current mob inherited a shambles. It was basically insolvent, due to some serious debt, but which can deliver funds to industry once  serious cost cutting is undertaken and racing and sport reopens to its customers to generate returns on the income side.

Just my view of things

 

Greg

I am probably not the full quid :-)

I have always stated Rita inherited a mess.  Total mess.  

Lets be realistic here about the CEO and CFO are or will be refilled, so that is not pruning a tree.

My biggest criticism is the lack of acknowledgement that the new platform is a dog and needs urgent attention.  

The communication has been woeful too in a time when it should be at its best.

Like you Greg, this is just my view.....

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1 hour ago, Bestbetbazza said:

Have I read this right, only the TAB are cutting staff. Not RITA/NZRB or any other employees in the Great White Elephant Building plus those valuable employees working out of Auckland.

RITA is the TAB  (and/or NZ Racing Board)

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1 hour ago, Bestbetbazza said:

Have I read this right, only the TAB are cutting staff. Not RITA/NZRB or any other employees in the Great White Elephant Building plus those valuable employees working out of Auckland.

The TAB is now run by RITA as apposed to NZRB previously. My understanding is that cuts are across the board.

 

Greg

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3 hours ago, shaneMcAlister said:

My biggest criticism is the lack of acknowledgement that the new platform is a dog and needs urgent attention.

Are you for real?? So your the Chair or board member of RITA and as you say you inherit a dog of a platform as you put it that has cost 50Mio and then a further 17 mio per annum. You  see this and look at a balance sheet loaded with debt

Do you

A- Spend more on it to try and fix up and pay less out to racing and sporting stakeholders

B- Keep on as there is no looking back to previous mistakes and address other cost issues or

C-

 

Tell us all what you would do, or offer another solution , that's C

 

Greg

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10 minutes ago, JJ Flash said:

The TAB is now run by RITA as apposed to NZRB previously. My understanding is that cuts are across the board.

 

Greg

Including the RIU and or JCA?

Greg you seem to be close to the coalface so please keep us informed with all the facts.

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22 minutes ago, JJ Flash said:

Are you for real?? So your the Chair or board member of RITA and as you say you inherit a dog of a platform as you put it that has cost 50Mio and then a further 17 mio per annum. You  see this and look at a balance sheet loaded with debt

Do you

A- Spend more on it to try and fix up and pay less out to racing and sporting stakeholders

B- Keep on as there is no looking back to previous mistakes and address other cost issues or

C-

 

Tell us all what you would do, or offer another solution , that's C

 

Greg

Re A.  I would like to think the 17M per annum includes some service, and I would get those that built it to fix it.  Or I would stop paying the $17M and say see you in court

Re B.  There needs to be a solution, you can not keep reducing costs forever.  You need more revenue coming in the funnel.  And this system will not produce adequate increased revenue.

 

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On 5/6/2020 at 8:03 PM, poundforpound said:

Let me give you a clue 

Anyone left in charge of other people’s money ( read Labour or lefties ) will invariably keep spending the other people’s money until it runs out ..... there’s a life lesson right there .....if the TAB was listed on the NZX and accountable to shareholders, or if it had competition, this would almost certainly never have happened, but it wasn’t, and it has.

You're seeing the exact same thing happen with our country Liz ... inefficiencies and left wing loonies on a drunken narcissistic spending spree that those of us who are productive tax generators will spend the next twenty years paying for 

Budget Week coming up, PfP.

At what stage will the CoL begin hammering souls like you and me with increased tax brackets to pay for their wrecking of the economy (some of it seemingly illegal) when it is apparent that they could have dealt with this pandemic just as effectively by:

Closing the borders immediately. Not, like, waiting until even Jacinda realised her Mother Teresa act re the Christchurch Mosque Commemorations wasn't gonna happen

Locking down all the facilities with aged residents/patients.

 

 

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2 hours ago, Disillusioned said:

Budget Week coming up, PfP.

At what stage will the CoL begin hammering souls like you and me with increased tax brackets to pay for their wrecking of the economy (some of it seemingly illegal) when it is apparent that they could have dealt with this pandemic just as effectively by:

Closing the borders immediately. Not, like, waiting until even Jacinda realised her Mother Teresa act re the Christchurch Mosque Commemorations wasn't gonna happen

Locking down all the facilities with aged residents/patients.

 

 

Disillusioned, isn’t  hindsight a wonderful attribute?

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3 hours ago, Insider said:

Disillusioned, isn’t  hindsight a wonderful attribute?

I think the general consensus in the early stages when thousands of people were coming back to NZ and told to self isolate wasn’t going to work . JA s reasoning was that couldn’t isolate 40 k .Well if they truly went hard  army type barracks tents ect could of been set up near the airport and those coming home were given this only option till they were cleared . Would of been a mission  to achieve but maybe the country’s lockdown could of been avoided ? 

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TAB to cut 30% of it's staff!

well we all know from past experience that the TAB is not that flash with it's arithmetic eg- bonus bets stuff up and their annual reporting figures (as us good guys say "smoke and mirrors")

so what they are probably going to do is cut their 700+ employees by 30 ;)

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3 hours ago, Insider said:

Disillusioned, isn’t  hindsight a wonderful attribute?

Sure is, Insider.

Do I take it that you never retrospectively critique any actions of yours?

Me, I always go back - especially when things didn't turn out as I'd hoped/wished - and review what decision processes I went through so as to ascertain where I went wrong, what information I either didn't obtain/ignored.

And even when things so spectacularly well, it never hurts to investigate what reasons you came up with for making your spectacularly-successful action!

Therein, I find, lies wisdom.

 

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17 minutes ago, von Smallhaussen said:

TAB to cut 30% of it's staff!

well we all know from past experience that the TAB is not that flash with it's arithmetic eg- bonus bets stuff up and their annual reporting figures (as us good guys say "smoke and mirrors")

so what they are probably going to do is cut their 700+ employees by 30 ;)

von, you can do anything with statistics!

Remember the CoL trumpeting that they had increased police numbers by, what was it?, 1800?

When all they had done was 'cover' the numbers lost to resignations/retirements/jailings and that the actual increase was considerably less!

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