Always back the horse named self-interest, son. It'll be the only one trying
This is what is reported in the Auckland Trotting Club annual report. The (now former) staff member involved in a dispute with the club is Graeme Payne, in the case that we have written at length about recently. The ATC claim they ‘do not consider there to be any expected cash outflow’ from the decision […]
So what has the Auckland Trotting Club’s president Jamies ‘Watches’ Mackinnon achieved with his messages to members sent out this morning? Let’s number them for posterity shall we? Watches has variously: Confirmed that everything peter profit has been writing about the Chinese land developer not coming up with the $90 million lump sum required to […]
The Auckland Trotting Club has filled a casual vacancy by appointing the President’s daughter to the board. No advertising of the role. No call for expressions of interest. No invitation for members to apply. No testing of the market. No merit based selection process. President Jamie ‘Watches’ Mackinnon merely steps out of the room for […]
Dear Member This is a quick update on a couple of matters, one where the rumour mill is louder than Arran White’s race commentary. The ATC has a number of psychics within our membership, for reasons unknown they are not able to predict race winners, but they are experts at predicting the club’s future. At […]
The jungle drums just keep getting louder that the developer is not going to meet the 8 November deadline for payment of the final $90 million for the Franklin Training Centre. If they don’t, the Auckland Trotting Club is in a world of pain. Promises have been made to the club’s bankers. They’re owed $80 […]
Although no-one from the Auckland Trotting Club is coming out and admitting it to participants and the public, our inside mail is the Chinese property developer that has signed contracts to purchase the training center at Pukekohe won’t be paying for it in a lump sum later this year as we have all been lead […]
Hi Archie Couldn’t let the postings re Auckland Trotting Club go by without some sort of answer. For the record none of the shite written by Guerin is new – it has been common knowledge for at least 12 months that the club has been accruing interest at over $100k per week since the Gleneagles […]
With the entire future of the Auckland Trotting Club dependent on the finalisation of the sale of its land and training centre at Pukekohe and the payment of the balance of $90 million by the buyer, we thought we would do some research into who exactly that company or person is. This is what we […]
An article about the parlous finances of the Auckland Trotting Club written by Michael Guerin and published on harnesslink yesterday may be more skilfully written than ours, but it merely reflects what we have been telling you and warning about in the articles below for the past three years. https://peterprofit.com/category/auckland-trotting-club/ The ATC Directors whose grandiose […]
The Club is exposed to interest rate risk on bank borrowings for the funding of developments in progress, all borrowings are held on floating rates of interest and will be reviewed regularly for options to fix interest rates to minimise exposure to market movements. Interest capitalised into inventory under construction is subject to a change […]
