Riaan Du Plessis Response to Ian Jayes

PUMP & DUMP
It's a racing certainty!!!!

15. “Phumelela and its willing hand-maiden the Racing Association …”
As explained in 1. above, the Racing Association is not the “hand-maiden” of Phumelela. In fact quite the opposite. The Racing Association appoints the majority of Trustees on the Trust and in turn the Trust, through its significant shareholding in Phumelela, exercises significant influence over Phumelela.


so there you have it, its all the RA's fault -this situation. RA, do you have anything to say for yourself??? or is the ball going to be passed in to the next court - perhaps the NHRA, or any other volunteers ?.

Rian Wrote:

---

> 15. “Phumelela and its willing hand-maiden the
> Racing Association …”
> As explained in 1. above, the Racing Association
> is not the “hand-maiden” of Phumelela. In fact
> quite the opposite. The Racing Association
> appoints the majority of Trustees on the Trust and
> in turn the Trust, through its significant
> shareholding in Phumelela, exercises significant
> influence over Phumelela.
>
>
Yet more white wash!!!!!
No way can that scruffy tail
wag the mangey dog
(*Mange is a class of persistent and contagious disease caused by parasites )
*
*

Jeepers..how long did it take him to write that??

I find his dividend policy in my opinion irresponsible in todays economic environment especially considering the competitive envronment racing is in today.

Jays responded again in Sporting Post - no comment this time on the same old.....

And I suggest until the questions are answered by giving factually correct explanations, the 'same old' will not go away...

Again I think a one-on-one debate tackling the issues one by one is the way to go - it boggles the mind that there can be such misunderstanding about relativly straight forwards concepts, e.g. the difference in opinion about whether it was 'public money' that benefitted P - both view points can not be correct, either it was 'public money' or it was not, etc., etc., etc.

I have had a lot to say over the years on the poor racing program - I agree with Louis Goosen that a contributing factor is that there simply are too many horses for the available races - however the situation could have been much better if Bloem was still available - so P is in truth also responsible for this 'bottle neck' - 'Flamingo Festivals' are a poor subsitute for the loss of Bloem.....:

unfortunately not all of us can own champions like igugu and boss cat so we need to cull them and take them out the system because there are not enough races for boss cat and igugu...whats the definition of a weaker racing centre?my understanding is it is for horses that cannot compete in the so called major centes ie gauteng natal and the w.cape...so we kill bloem off and are told those bloem meetings would be replaced with a like for like in gauteng and now the trainers of champions dont want this no more so we left with kimberly and port elizabeth..unfortunately for us owners that own soupmeat those centres DO NOT CATER FOR OUR CRAP because they put on several plate races and high handicaps so we are back to square one ...in kimberlys case its a fcuking disgrace that their race program has been totally been revamped by the introduction of the green colours,,,,the solution to the problem lets take the soupmeat out and shoot them and then in 3 years time the boss cats of the world will be the new soupmeats and we will do the same until racing is only for the igugus sea cottages and politicians...

which afrikaans song is he referring to?

100% Pirates!

Bok Van Blerk 68 Chevy(Minki)

rhythmmusicstore.com/music/311/Bok-Van-Blerk/De-La-Rey

rubbish! i don't get it lol
is he not referring to de la rey

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Random Thoughts

In support of Ian Jayes
Last updated on 04 September 2011.

With regard to Ian Jayes’ article dated 30-8-11, I completely agree with every word in his article.

For those that are ill informed like Mr. Du Plessis, herewith the history of being forced to hand over our Gauteng horse racing to a BEE compliant public company:

1. We were paying a 9% turnover tax + VAT before we had serious competition from other forms of gambling

2. The casinos paid far less tax than us, so when we could not cope anymore, the National Party Gambling Board agreed to form the HRDF, in order to provide finance for capital projects.

3. When the local casinos were opened, we could not cope with the ridiculous 9% turn over tax, so we approached Jabu Moleketi and Andrew Feinstein.

4. Mr. Moleketi informed us that he would reduce the tax to 3% + VAT, if we went public with a 35% BEE participation.

5. A 6 member steering committee was formed in order to establish the Gauteng Racing Association with me as chairman.

.

In order for racing to survive we came to the following recommendations:
- Stakes to be increased for 1998 by 25%
- 0.1% of T/O for running expenses
- 3.4% of T/O for stakes
- 100% of bookmakers contribution
- 50% of Sponsors income
- 16.95% of other forms of income
- Nomination fees

We anticipated a surplus of R10m for the first year, this would be put into a trust account and would be used to smooth out unexpected drops in income in the short term.

We also expected for the year 1999 a drop in T/O of 10%, although we agreed that stakes had to increase by minimum of 10% p.a., thus the trust fund would come to the rescue.

It was also agreed that it was essential that the stakes for a maiden win would have to be progressively increased to a year’s keep of a horse in training.

What has happened is the opposite, some Turffontein maiden races now pay R25000 after deductions, while a year’s keep is around R100000.

The HRDF grant of R17m for the building of stables and groom quarters at Newmarket, as agreed by the Gambling board of which I was a member, disappeared somehow into the coffers of Mphumelela, as a capital injection and a small portion was used to build the inferior stables at Turffontein, the balance helped the Phumelelela executive to increase the share price of the public company, and of course make their executives’ options more valuable.

This is a great point of contention that the Phumelela executives try and boost the share price with increased profits, but who looks after the wellbeing of the goose that is laying the golden egg for them?

Another bad decision was the sale of Newmarket, the powers that be were of the opinion that Gauteng racing could be best served with the Vaal tracks and the Turffontein tracks and transferring the lights from Newmarket to Turffontein, however what did not enter their minds, was looking at the logistics of that decision, it takes a person from the northern suburbs up to two hours to get to Turffontein at that time of the day, while Newmarket was within a 45 minutes reach, thus night racing at Turffontein is a total flop, while Newmarket could have been used to entice young people to come to the races.

There is another question that needs an answer, what happened to the light towers, the lights, the cabling, the generators and the considerable amount of art works from Newmarket ? As well as why did Phumelela accept a tender for the lighting at Turffontein that was more than R10m more than competing tenders?

- from Joe van Streepen