Archive for the Churchill Downs Category

Churchill Downs to Host Breeders Cup 2010

Posted in Churchill Downs, Economics, Horse Racing, Louisville News, Sports, State of StateoftheCommonwealth on October 8, 2008 by stateofthecommonwealth

Finally we’re getting to update State of the Commonwealth, after computer issues the past few days. And in our first update there’s the good news that Churchill Downs will host its seventh Breeders Cup in the fall of 2010 (from a Courier-Journal article that’s light on details):

The Breeders’ Cup World Championships will return to Churchill Downs in 2010, officials from both organizations confirmed this morning at a news conference.

Churchill will play host the cup for the record seventh time and the first time since Breeders’ Cup went to a two-day format last year. The event will take place Nov. 5-6of that year.

If you’ll recall, Churchill was claiming last year that the Breeders Cup when held at there didn’t typically earn more revenue than any other racing Saturday during the Fall Meet. Yeah, right, sure, that’s believable. Anyway, we’re glad that the event is coming back to Louisville.

Billy Reed on Big Brown Bummer

Posted in Churchill Downs, Horse Racing, Media, Sports on June 4, 2008 by stateofthecommonwealth

Big Brown Training at Belmont

(above photo of Big Brown from the Courier-Journal)

We haven’t had a lot of time to write about horse racing this spring, at least not as much as we’d like to. And we’ve got to admit, there was always something about Derby favorite and eventual-winner Big Brown that sorta rubbed us the wrong way.

Well, Kentucky’s dean of sports writing, Mr. Billy Reed, has recently posted a screed on his web site Billy Reed Says entitled The Bad, Bad Backers of Big Brown, and it excellently raises a few issues about the people behind Big Brown that the mainstream media seems unlikely to cover.

First, does the general public know that Big Brown’s trainer Rick Dutrow is “a boorish loudmouth who has a long rap sheet for illegally medicating horses?” Maybe the former, but we doubt many know about the latter. Secondly, does the public know that one of the partners of International Equine Acquisitions Holdings — the group that owns Big Brown — was fined by securities regulators? Probably not:

In October, 1999, [Michael] Iavarone was fined $7,500, censured, and suspended from the securities industry for 10 business days for association with A.R. Baron & Co., a New York firm that was the subject of a criminal and civil investigation.

Documents show that Iavarone was a general securities representative at A.R. Baron from July, 1993, until it collapsed in July, 1996. The following year, the firm was prosecuted by the Manhattan district attorney on charges of cheating thousands of investors out of $75 million. More than a dozen A.R. Baron officials either pleaded guilty or were convicted of wrongdoing.

According to records, Iavarone was accused of executing “unauthorized transactions which exceeded $22,000 in the accounts of public customers” in July and December, 1995, without his customers’ knowledge or consent. He did not admit guilt in the case.

About that same year, Iavarone said he ended his association with a now-defunct investment firm, Joseph Dillon & Co., which was censured in September, 2002, and fined $35,000. The firm’s chief executive was banned for two months by securities industry regulators for improper telemarketing methods. Iavarone told Newsday he had little involvement with Joseph Dillon, where he was a registered stockbroker, and had no knowledge of any wrongdoing.

And that’s the tip of the iceberg, so give it a read. As much as we’d like to see a Triple Crown champion — and clearly human foibles aren’t a horse’s fault — we gotta admit these guys don’t seem worth cheering for.

Louisville Business: Churchill Downs Sues Horsemen, GE to Sell Appliance Park?

Posted in Churchill Downs, Economics, Horse Racing, Labor, Louisville News on May 15, 2008 by stateofthecommonwealth

Churchill Downs

(above photo of Churchill Downs from kentucky.gov)

If you’ve been following horse racing with more than a casual interest this spring, you might be aware of the until-now relatively low-key feud between Churchill Downs and two different horsemen organizations (generally horsemen include owners and trainers) over online wagering. Well, that simmerin’ pot came to an angry, boiling head yesterday as Churchill filed suit (from Business First):

The ongoing battle between Churchill Downs Inc. and Kentucky horsemen escalated Wednesday afternoon, when the racetrack operator filed suit against the Kentucky Horseman’s Benevolent and Protective Association, the Kentucky Thoroughbred Association and officers for each of the organizations.

Churchill Downs Technology Initiatives Co. and Calder Race Course Inc. also were listed as plaintiffs in the suit, which was filed in U.S. District Court for the Western District of Kentucky in Louisville.

In the suit, Churchill Downs Inc. and its affiliates allege that the KHBPA and the KTA violate the Sherman Antitrust Act by blocking the distribution of Churchill Downs’ simulcast signal to national advance-deposit wagering, or ADW, sites, including Churchill’s own ADW site, www.twinspires.com.

The only races the horsemen allowed to be simulcast during the current Spring Meet were the Kentucky Oaks on Friday, May 2, and the Woodford Reserve Turf Classic and the Kentucky Derby on Saturday, May 3.

The suit amends a complaint Churchill filed on Thursday, April 24, against the Thoroughbred Horsemen’s Group, the Florida Horsemen’s Benevolent Protective Association and the officers of those organizations.

Those organizations sought to block the simulcast of Calder races to out-of-state, off-track betting sites.

In both cases, the horsemen are seeking a greater share of the money that bettors wager at off-track betting parlors and on Internet betting sites.

“It is in the best interest of our racetrack, our horsemen and certainly our customers for the Churchill Downs signal to be made available to racing fans throughout the country,” Churchill Downs Inc. executive vice president Steve Sexton said in a news release. “Unfortunately, our negotiations with Kentucky horsemen have not advanced.”

The suit is the latest salvo in the battle between Churchill Downs Inc. and the horsemen.

Beginning today, Churchill cut purses for Spring Meet races by 20 percent.

The Courier-Journal‘s article on the same issue adds the following comment from Churchill’s opposition:

“I don’t believe we’ve breached anything,” David Switzer, executive director of the Kentucky Thoroughbred Association, said in an interview.

In other big, maybe-going-to-affect-a-lot-of-Louisvillians news, the Wall Street Journal is reporting that General Electric is looking to sell its appliance unit, which would “mean more uncertainty for the 5,000 workers at Appliance Park” (from the C-J):

GE has hired Goldman Sachs to run an auction for the appliances unit, which could fetch up to $8billion, the Journal reported.

“We just don’t comment on this kind of speculation,” Kim Freeman, spokeswoman for the Louisville-based Consumer & Industrial division, said when asked about the report. Goldman Sachs also would not comment on the report.

IUE/CWA Local 761 President William T. “Tommy” Spires said he hadn’t been aware of any sale plans.

“As far as I’m concerned, it’s business as usual,” Spires said. “I’ll continue to do everything I can to save the jobs here. I’m as shocked as anybody else at this time. I just find it hard to believe.”

Through a spokesman, Mayor Jerry Abramson said he and officials of Greater Louisville Inc., the local chamber of commerce, have been talking to GE managers during the past two weeks about rumored job losses at Appliance Park.

Abramson said he spoke to Jim Campbell, CEO of GE Consumer & Industrial, which also includes lighting, and was told the company was looking at job reductions across the board but hadn’t made a decision about Louisville.

“That conversation didn’t include the possible sale of the appliances division,” Abramson spokesman Chad Carlton said. “Certainly, we’ll be proactive in the event they want to go that route and make the case, to either GE or new owners, that Louisville is a great place to continue operations.”

About half of Appliance Park’s 5,000 workers are in white-collar jobs in areas such as marketing, finance, and research and development. The others are union workers who build dishwashers, washing machines and top-freezer refrigerators.

…The appliance business, which for years used the slogan “We bring good things to life,” has been the public image for GE and provided most of the company’s consumer products.

Last year the Consumer & Industrial business accounted for less than 8 percent of GE’s overall revenue of almost $173billion.

As GE was confirming plans to sell its plastics business in January 2007, Immelt was asked about other industrial businesses it might shed and responded, “The other obvious candidate … is Consumer & Industrial.”

Reasons for keeping it, he said, were that the GE brand was important to the business, it returns major amounts of cash to the parent company and presents innovation opportunities.

So it’s not entirely clear what will happen to Louisville, but we’re guessing we might soon see a return of the “GE isn’t me” t-shirts we remember from Appliance Park layoffs in the 1980s.

What’s In the Weeklies? Week of May 7

Posted in Churchill Downs, Horse Racing, Louisville News, Media, Sports, Uncategorized, What's In the Weeklies? on May 7, 2008 by stateofthecommonwealth

It’s been a few weeks since we’ve gotten a chance to post one, but it is also Wednesday, so it’s time for another installment of What’s In the Weeklies?

LEO May 7

LEO Weekly, May 7, 2008 issue:

Overall Score: 27 points

Velocity May 7

Velocity Weekly, May 7, 2008 issue:

Overall Score: 28 points

Velocity pulls out the surprise win this week! Granted, it’s gotta be tough for any editor in Louisville to put together a paper the week after the Derby, when not much happens. And Velocity‘s Derby coverage was pretty vapid, to be sure (which is fine — we’re not looking for anything too serious when it comes to, say, Barnstable-Brown stories and photos). But the prospect of a thin paper led to some “risky” editorial choices that, while not de riguer for Velocity, actually seemed to work! Like a full two-page poem, we gotta like that. And a decent interview with Kevin Phillips, and a piece on House of Ruth, “a local organization that provides financial and social support to people with AIDS and HIV.” So perhaps Velocity should take more chances in the future.

As always, please feel free to comment! Especially as regards stuff we don’t cover in the weeklies, such as theater and film coverage.

Derby Wagers Down 3.2 Percent

Posted in Churchill Downs, Horse Racing, Kentucky News, Louisville News, Sports on May 6, 2008 by stateofthecommonwealth

If you weren’t sure before whether or not the United States is in a recession, perhaps this news from Business First may convince you: Churchill Downs reports that Kentucky Derby wagering was down 3.2 percent from 2007:

Despite the second-highest attendance in history, wagering from all sources on the Kentucky Derby dropped 3.2 percent from 2007.

All-source wagering was $114,557,364, down from 2007’s total of $118,317,714, Churchill Downs Inc. said in a news release.

On-track wagering totaled $12,118,527, down 0.3 percent from 2007, and off-track wagering was $102,438,837, down 3.6 percent.

Wagering from all sources for the 12-race Derby Day card at Churchill Downs, also declined, dropping 2 percent.

Off-track wagering was affected by the ongoing disputes between online betting sites and horsemen in Kentucky and Florida, which has limited participation, Churchill Downs president Steve Sexton said in the release.

This news comes after the revelation that Keeneland’s spring meet wagering was down 12.7 percent as well. While neither story is as depressing as Eight Belle’s demise — or even this bit of inanity — neither spells good news for Kentucky’s economy.

What’s In the Weeklies? Week of Mar.26

Posted in Churchill Downs, Drink, Food, Media, Music, What's In the Weeklies? on March 26, 2008 by stateofthecommonwealth

LEO 3/26

It’s that time again, time for our weekly look at, well, Louisville’s weeklies. And continuing with last week’s installment, once again we’ll use a completely arbitrary and somewhat useless rating system in order to help you, our dear reader, find out which weekly reigns supreme. So here goes nothing.

LEO Weekly, March 25, 2008 issue:

Overall score: 28 points

Velocity 3/26

Velocity Weekly, March 25, 2008 issue:

Overall score: 18 points

Though the score doesn’t entirely reflect it, this week’s competition was much more, well, competitive. If Velocity ever deigned to publish some actual news or opinion pieces, they might well take LEO‘s crown on such a week.

Slow News Day

Posted in Basketball, Churchill Downs, Horse Racing, Kentucky News, Louisville News, Sports on March 21, 2008 by stateofthecommonwealth

Cats Lose

It’s a slow news day out there this Friday. Not surprising, we s’pose, considering the Wildcats lost in the first round of the NCAA Tournament last night, so Kentucky fans will have nothing to do for the next few weeks except cry and point the blame at either:

  1. Billy Gillespie
  2. Tubby Smith
  3. Injured Players
  4. The NCAA Selection Committe
  5. All of the above

We’d rather not get too into any debates about why they lost, so instead let’s do a roundup of whatever news we can find on this slow, but beautiful day.

Dozens sickened in parish church (from the Courier-Journal):

At least three dozen pupils at St. Martha Elementary School were sickened while in the parish church this morning, according to Louisville emergency officials.

About 400 pupils were in church when one child fainted and then several others started complaining of other ailments, such as headaches and nausea, said Dr. Neal Richmond, director of Metro Emergency Medical Services.

None of the children was seriously ill, but 34 students have been taken to area hospitals to be checked out, he said. A few others were being checked at the scene at 2825 Klondike Lane in the Buechel area.

What caused the children to become sick was not immediately clear. No chemicals or gases were found inside the sanctuary, said Maj. Richard Haines of Louisville Fire & Rescue.

Professional jobs increasing in Louisville (also from the C-J):

Louisville has a greater share of professional and technical jobs that pay well than regional competitors like Indianapolis and Memphis, according to a new analysis of U.S. Census Bureau data.

The report, to be released today by the nonprofit Greater Louisville Project, shows that nearly 36 percent of Louisville’s workers are in fields ranging from law and health care to finance and information technology.

And since 2000, the city has added those positions at a faster rate than nine of its peers in the Southeast and Midwest — including Nashville, Indianapolis, Cincinnati and Columbus.

“We are just beginning to see some signs of momentum around trying to grow more of what we call ’21st century’ jobs,” said Carolyn Gatz, director of the nonpartisan civic group, which issues an annual update on efforts to make the city more competitive.

By the way, we haven’t commented on the Courier‘s web site redesign, mostly because our opinion is not too far out of line with the consensus. That is, it stinks.

Churchill looking for ‘Chief Party Officer’ to oversee Derby infield (from Business First):

Churchill Downs has launched a nationwide search to find someone to fill a brand new executive position — Chief Party Officer of the infield at this year’s Kentucky Derby.

As the official host of the infield party, the CPO will get to walk the Derby red carpet, participate in media interviews, and spend Derby Day in an elevated infield “boardroom” that includes private wagering machines and restrooms.

The CPO will get to choose seven “board members” with whom to share the experience, and those members each may bring three friends.

The CPO also will receive Derby merchandise valued at $500, while each board member will receive $300 in merchandise.

A video from Churchill Downs describing the kind of applicant being sought for the CPO position is available online at www.youtube.com/kentuckyderby.

The CPO contest is free and open to U.S. residents age 21 and older. Contestants must upload a video to www.youtube.com describing why they should be selected. They also must complete an online application at www.kentuckyderby.com/infield and include a link the YouTube video.

Applications will be accepted through Sunday, April 13, and the winner will be announced on Tuesday, April 15.

Yikes.