Paulick Report Staff

MAGNA DETAILS: REVENUE, EMPLOYEES AND CREDITORS

By Ray Paulick The volume of paperwork in Magna Entertainment’s chapter 11 bankruptcy filing last Thursday yielded some interesting details about the Frank Stronach-controlled company, its operations and creditors (tens of thousands of which were listed on more than 500 pages of documents). But pleadings from the company’s attorneys in federal bankruptcy court […]

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LAWSUIT CLAIMS CHRB RULE RESTRICTS COMMERCE

By Ray PaulickResponding to complaints from racing secretaries that horses were being claimed in California races and immediately shipped out of state – often to tracks with purses enriched with slot machine revenue — the California Horse Racing Board in 2005 amended its rules to prohibit any claimed horse from racing outside of the state […]

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MAGNA SMACKDOWN: NORTH RUN ADVISORS, NASDAQ PILE ON

By Ray PaulickAnother day, another Schedule 13D filing with the Securities and Exchange Commission from an institutional investor concerning MI Developments, the parent company of bankrupt Magna Entertainment, the racing company created by Eclipse Award-winning Thoroughbred owner and breeder Frank Stronach. Monday’s filing came from North Run Advisors, a Boston-based investment firm that spent […]

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PAULICK DERBY INDEX: SWEET REVENGE

In what is truly becoming a pattern, this weekend’s biggest winner I Want Revenge jumped from the bottom of our poll to the fourth position after romping in the Gotham Stakes at Aqueduct on Saturday afternoon. What should not be overlooked in the wake of his 8 1/2 length win is how much stronger the […]

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MAGNA PARENT WANTS TO CLOSE GOLDEN GATE FIELDS

By Ray Paulick Racing in Northern California, scrambling to recover from the loss of Bay Meadows racetrack, which was closed in 2008 for planned development, also faces the bulldozing of Golden Gate Fields, the parent company of bankrupt owner Magna Entertainment stated in a Securities and Exchange Commission filing on Tuesday. MI Developments […]

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FRANKFORT TO HORSE INDUSTRY: DROP DEAD

By Ray Paulick Kentucky’s signature horse industry is in a battle for survival, but its enemy is not the army of slot machines in neighboring Illinois, Indiana, Missouri or West Virginia, or a few hundred miles north in Pennsylvania or south in Louisiana. It is the commonwealth’s own elected officials, beginning with Gov. Steve Beshear, […]

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MAGNA PROPOSES AUCTION FOR SOME OF ITS ASSETS

By Ray Paulick A hearing has been scheduled for April 3 in U.S. Bankruptcy Court in Delaware to consider a motion requested by bankrupt Magna Entertainment to auction some of its assets on July 16. Included in the proposed auction, tentatively scheduled at the New York offices of Weil Gotshal and Manges, is […]

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EDWIN ANTHONY’S PEDIGREE REPORT: FRIESAN FIRE

Between now and the Kentucky Derby, pedigree expert Edwin Anthony will be providing Paulick Report readers with insightful commentaries on many of the leading contenders for the race that most breeders and owners dream of winning. Ed comes from the racing family that bred and owned such classic winners as Temperence Hill and Prairie Bayou […]

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SKY MESA RECOVERING FROM COLIC SURGERY

By Ray Paulick Three Chimneys stallion Sky Mesa, the leading second-crop sire of 2008, underwent colic surgery Sunday morning and is expected to miss at least a month of the breeding season that got under way this past week. The 9-year-old son of Pulpit out of the graded stakes-winning Storm Cat mare Caress, is recovering […]

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NOW FEATURING…THE PAULICK DERBY INDEX

The first Derby Future bets have been placed and nearly every major 3 year old contender has run in 2009 so we decided this would be the ideal time to roll out the first Paulick Derby Index (PDI). While it seems everyone and their apprentice jockey are making Derby watch lists this year, we realized […]

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