Always back the horse named self-interest, son. It'll be the only one trying
Graeme Payne is a loyal employee of the Auckland Trotting Club whose job for 16 years until it was restructured used to be running the TAB at Alexandra Park. Payne was initially employed from 2005 to 2013 on an unsigned individual contract that paid him a miserly base salary of $45 000 per year for […]
This below is the latest newsletter sent to members of the Auckland Trotting Club. Believe everything written in it if you’re a fool. Email sent for and on behalf of Jamie MacKinnon, President, ATC Board Dear Members, Much of what I have to report since the last member’s newsletter will be presented in detail at […]
The Auckland Trotting Club continues to throw its ‘recover’ – if that’s the right word, which I doubt – its members good money after bad in its mad quest to extract compensation and damages from the Directors of its sacked contractor Canam Constructions Ltd (CCL), a company that has long been in liquidation and doesn’t […]
The Auckland Trotting Club has been a train wreck ever since the then committee decided that they would gamble all of the club members money and assets on a bunch of utterly unqualified Director’s ability to transform themselves from record store owners (Rod ‘Biscuits’ Croon) and watch salesman (Jamie ‘Watches’ Mackinnon) into large scale property […]
How are the boys club who are running the Auckland trots into the ground going with their circa $120 000 a week interest payments at interest rates of the cash call plus margin that keeps rising by the second? Remember just 2 years ago back in 2o21 when they were paying ANZ a vig of […]
At balance date a loan facility for $75,595,210 with a current value drawn of $75,085,577 was provided by Westpac New Zealand Limited (Westpac) with a maturity date of 31 December 2022 on an interest only basis with repayment due on settlement of the Gleneagles property deal in October 2022. The interest rate applicable is floating […]
Olympic Swiss Watches, made in Asia An open letter to Auckland Trotting Club president Jamie MacKinnon. Why waste tens of thousands of dollars in the High Court fighting over who owns the remains of Cardigan Bay when the solution is obvious and in your hands? Ever since the New Zealand Trotting Hall Of Fame notified […]
The word out of Auckland is no. I find it hard to believe myself, but that’s what they say. Nothing about the ATC would surprise me. We will find out soon I guess. When the rain breaks.
With money you are a dragon; with no money, a worm. (Chinese Proverb) CBRE are not just top shelf property valuation experts, they are the global leaders in the trade. They have valued the Auckland Trotting Club’s training complex and land at Franklin Park, Pukekohe as being worth around $31 million. The ATC claim that […]
Call me stupid if you like, for many do, but there is something I just don’t understand. How can the Auckland Trotting Club sell a piece of prime inner-city fringe land that it owns for $50 million, and only come out the other side of the sale with only $11.8 million? It’s got me baffled. […]
