Comments on: MAGNA’S STOCK DIVES

By: Bellwether

Bellwether — Fri, 03 Oct 2008 05:55:54 +0000

what would it be worth to the folks that could turn Magna around WITH OUT the slots in MEERYLAND…if we could choose between the HORSES or the slots to promote…we go for the HORSES handsdown & blow them away…gotta have a REAL PROMOTOR & we have a V8…Long Live The BELL!!!…ring a ding ding BABY!!!…

By: RW

RW — Thu, 02 Oct 2008 03:47:51 +0000

Greenlight owns 10% of MI Developments not MECA. And Greenlight hasn’t sold anything.

And Avioli should have some lawyers read MECA’s 10-K. Santa Anita is essentially pledged as collateral on MECA’s term loans. A bankruptcy filing or acceleration of that loan could void the Oaktree lease.

By: Muggs

Muggs — Wed, 01 Oct 2008 20:58:38 +0000

Nobody else wants the Breeders Cup. What’s that say about that orginazation? They come in take over and put a $500,000 cap on what the host track makes. As far as Magna’s concerned, Stronach probably feels like the warden in the last scene of Shawshank Redemption……

By: John

John — Wed, 01 Oct 2008 13:29:52 +0000

I would venture a guess that the hedge fund, Greenlight Capital who owned 10% of MECA finally decided to take their losses and get out, it’s not a coincidence that this happened on Sept. 30th, the last day of the third quarter.

By: gw

gw — Wed, 01 Oct 2008 12:33:27 +0000

what are the expectations for a GP meeting for ‘09?
last year’s meet was riddled with unprecedentedly cheap races…what are the odds that there will be any racing in the upcoming season?

By: Richard Coreno

Richard Coreno — Wed, 01 Oct 2008 01:40:57 +0000

I would say that the last person out should remember to turn out the lights, but Magna may already have them turned off due to not be able to afford the light bill.

By: Live by the Sword

Live by the Sword — Wed, 01 Oct 2008 00:18:44 +0000

What was Breeders Cup thinking? Normally looming insolvency is a contractual deal killer. Instead they doubled down. You can’t make this stuff up…