LightsOut 486 Report post Posted July 31, 2020 https://www.stuff.co.nz/national/politics/300071112/tab-just-months-away-from-collapse-before-government-bailout meomy 1 Quote Share this post Link to post Share on other sites More sharing options...
Sobeit 99 Report post Posted July 31, 2020 Does anyone feel confident that the actions to date will lead to a viable future for both the TAB & the wider industry? Is it odds-on that a further large cash injection will be required within the next 12-24 months to keep the industry afloat? Quote Share this post Link to post Share on other sites More sharing options...
TurnyTom 1,519 Report post Posted July 31, 2020 Yes further funding will be probably be needed, as zip has changed Quote Share this post Link to post Share on other sites More sharing options...
LightsOut 486 Report post Posted July 31, 2020 Quote Is it odds-on that a further large cash injection will be required within the next 12-24 months to keep the industry afloat? That's a given, the Racing Minister informed Government that more funding in the very near future will be required to keep the Industry solvent. The trouble is once Peters is gone in a few weeks who will be the new Racing Minister and will he or she be as much of a saviour as Peters was. Dissident 1 Quote Share this post Link to post Share on other sites More sharing options...
LightsOut 486 Report post Posted July 31, 2020 https://www.stuff.co.nz/sport/racing/300016801/anger-at-winston-peters-make-racing-great-again-leads-to-petition-against-government-funding-for-racing-industry meomy 1 Quote Share this post Link to post Share on other sites More sharing options...
LightsOut 486 Report post Posted July 31, 2020 Quote https://www.change.org/p/jacinda-ardern-no-bailout-for-new-zealand-s-dying-horse-racing-industry Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,824 Report post Posted July 31, 2020 Interesting that the $70m odd was required to "survive the crisis", but $20m of that went to a couple of all weather tracks, which by the time the clubs involved have to front with their own contribution will probably drive the industry even deeper into debt. dock leaf, napier and Pam Robson 3 Quote Share this post Link to post Share on other sites More sharing options...
TurnyTom 1,519 Report post Posted July 31, 2020 The 20mil for AWTs is an incredibly poor decision given their financial status, mind boggling wrong simply at total odds with their financial reality napier, Pam Robson, nomates and 2 others 4 1 Quote Share this post Link to post Share on other sites More sharing options...
nomates 3,455 Report post Posted July 31, 2020 It's OK though they have a cunning plan to get racing back to being a self sustaining industry !!! ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Repeat what we have been doing for the last 5 years , OOPS . My money is on Mr B Saundry resigning in the next 6/12 months citing that he is unsettled and missing family in Aust . Sobeit, dock leaf and We're Doomed 3 Quote Share this post Link to post Share on other sites More sharing options...
puha 2,177 Report post Posted July 31, 2020 Did 10 million go to 11 redundancy packages ? Quote Share this post Link to post Share on other sites More sharing options...
Dissident 155 Report post Posted July 31, 2020 4 hours ago, LightsOut said: That's a given, the Racing Minister informed Government that more funding in the very near future will be required to keep the Industry solvent. The trouble is once Peters is gone in a few weeks who will be the new Racing Minister and will he or she be as much of a saviour as Peters was. Yes, and the government is fast running out of millions left to dish out. With the coalition collapsing and without Winston, it could be tough luck, no bail out available. Quote Share this post Link to post Share on other sites More sharing options...
Dissident 155 Report post Posted July 31, 2020 9 minutes ago, puha said: Did 10 million go to 11 redundancy packages ? Hmm...did they ever advise what happened with the restructure of higher paid positions? I know they cut their customer service by 2/3 to less than a dozen ppl, but haven't heard of any of these mysterious jobs paying well over double at over $100,000 being cut yet. We're Doomed, napier and Pam Robson 3 Quote Share this post Link to post Share on other sites More sharing options...
Patiti 274 Report post Posted July 31, 2020 News release by Dean yesterday on TAB site. Quote Share this post Link to post Share on other sites More sharing options...
winx21 70 Report post Posted July 31, 2020 4 hours ago, LightsOut said: 4 hours ago, LightsOut said: These petition's, half of the signatures are from fake facebook profiles Do they check these out? Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,824 Report post Posted July 31, 2020 4 hours ago, TurnyTom said: The 20mil for AWTs is an incredibly poor decision given their financial status, mind boggling wrong simply at total odds with their financial reality Probably be nearly a firm track at Ashburton tomorrow. And yet rather than spend a few hundred thousand to tidy up Ashburton and Timaru they are going to spend $13m odd at Riccarton. Surely that could only be justified if they think Riccarton will consistently attract 5,000 or so more people at all their winter meetings than Ashburton and Timaru would be able to get. Some people might think it is looking a gift horse in the mouth, but sadly I just think it shows an incompetent arrogance and waste of money. napier, Pam Robson, nomates and 2 others 5 Quote Share this post Link to post Share on other sites More sharing options...
Just Looking 44 Report post Posted July 31, 2020 5 hours ago, TurnyTom said: The 20mil for AWTs is an incredibly poor decision given their financial status, mind boggling wrong simply at total odds with their financial reality The money for all weather tracks was allocated from the regional development funds for all areas, not just racing - this was done well before Covid hit and the amageddon that occurred for racing that forced change. This money is tied to being only for the specific area and purpose and cant be used for anything else Dissident 1 Quote Share this post Link to post Share on other sites More sharing options...
Just Looking 44 Report post Posted July 31, 2020 39 minutes ago, We're Doomed said: Probably be nearly a firm track at Ashburton tomorrow. And yet rather than spend a few hundred thousand to tidy up Ashburton and Timaru they are going to spend $13m odd at Riccarton. Surely that could only be justified if they think Riccarton will consistently attract 5,000 or so more people at all their winter meetings than Ashburton and Timaru would be able to get. Some people might think it is looking a gift horse in the mouth, but sadly I just think it shows an incompetent arrogance and waste of money. Dead 6 - lucky them.............. Quote Share this post Link to post Share on other sites More sharing options...
We're Doomed 4,824 Report post Posted July 31, 2020 2 hours ago, Dissident said: Hmm...did they ever advise what happened with the restructure of higher paid positions? I know they cut their customer service by 2/3 to less than a dozen ppl, but haven't heard of any of these mysterious jobs paying well over double at over $100,000 being cut yet. Chopping the five big manager roles under the CEO back to four. Dramatic stuff. Probably have to pay them more as they will each be doing the work of 1.25 people. Pam Robson, Huey, napier and 1 other 4 Quote Share this post Link to post Share on other sites More sharing options...
TurnyTom 1,519 Report post Posted July 31, 2020 5 to 4, good odds for the result, simply playing with it Quote Share this post Link to post Share on other sites More sharing options...
Pam Robson 1,537 Report post Posted July 31, 2020 10 hours ago, Just Looking said: The money for all weather tracks was allocated from the regional development funds for all areas, not just racing - this was done well before Covid hit and the amageddon that occurred for racing that forced change. This money is tied to being only for the specific area and purpose and cant be used for anything else What 'armageddon' are you referring to? If it is the arrival of Covid-19, racing/turnover/TAB were in dire straits long before that. We're Doomed and LightsOut 2 Quote Share this post Link to post Share on other sites More sharing options...
stodge 1,912 Report post Posted July 31, 2020 Just a question - I understand the all weather tracks but will they have floodlights? Is the intention to supply racing beyond NZ and Australia - to other countries with a take from the wagering generated? Quote Share this post Link to post Share on other sites More sharing options...
Blue 1,085 Report post Posted August 1, 2020 13 hours ago, We're Doomed said: Chopping the five big manager roles under the CEO back to four. Dramatic stuff. Probably have to pay them more as they will each be doing the work of 1.25 people. Quantify "WORK" please. And now Ruakaka has picked up another meeting in a fortnights time, further proof that those in charge don't really have a handle on the industry at all. We're Doomed and Huey 2 Quote Share this post Link to post Share on other sites More sharing options...
Nerula 1,389 Report post Posted August 1, 2020 Dont be "hang dog" about a hand out. Look at the tax take. Say 10 million GST on horse sales. PAYE on Industry staff. Income tax on the rich pricks in the game. Or let the thing go tits up and pay all the little people the dole. No brainer really Quote Share this post Link to post Share on other sites More sharing options...
Dissident 155 Report post Posted August 1, 2020 4 hours ago, stodge said: Just a question - I understand the all weather tracks but will they have floodlights? Is the intention to supply racing beyond NZ and Australia - to other countries with a take from the wagering generated? Apparently the Cambridge one won't, the additional price was prohibitive. So it will the same lighting used for trackwork now, with no night racing. They could be added later but are not in the current plan. They were certainly looked at. Quote Share this post Link to post Share on other sites More sharing options...
Dissident 155 Report post Posted August 1, 2020 16 hours ago, Just Looking said: The money for all weather tracks was allocated from the regional development funds for all areas, not just racing - this was done well before Covid hit and the amageddon that occurred for racing that forced change. This money is tied to being only for the specific area and purpose and cant be used for anything else Yes, due to COVID-19 projects which generate jobs for teams of people, particularly in the regions have got more govt support. I think 1 was certainly needed at Cambridge with the # of horses in training there. Trainers do have real issues trying to get horses up and ready for spring with the state of the tracks in the region at this time of year. Don't know enough to pass any judgement for the other 2 that are proposed. Quote Share this post Link to post Share on other sites More sharing options...