magna developments

INVESTOR: LET MAGNA GO BANKRUPT

By Ray Paulick The recent press release announcing Magna Developments (MIM) was scrapping its reorganization plan to help debt-ridden racetrack company Magna Entertainment (MEC) has prompted one of Magna Developments’ largest institutional investors to warn the real estate entity’s board of directors that it was prepared to “vigorously protect” its rights as a shareholder if […]

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MARKET CRISIS HITS THE HORSE BUSINESS

By Ray Paulick While Congress begins deliberations on the proposed economic bailout package that could cost taxpayers as much as $1 trillion, Thoroughbred owners and breeders are beginning to feel the effects of the turbulence on Wall Street and other world markets. The financial markets meltdown came smack dab in the middle of […]

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