05-22-2012, 10:21 AM
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#671
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Veteran
Join Date: Nov 2005
Posts: 5,138
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http://www.timesunion.com/default/ar...al-3576481.php
Cuomo, NYRA reach overhaul deal
Governor, state to have control of scandal-plagued association
By James M. Odato May 22, 2012
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… Gov. Andrew Cuomo seizes the reins of the private company with the franchise to run the state's three thoroughbred tracks …
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… The plan … calls for a smaller board of trustees dominated by government appointees who will assure public control of the association for the remainder of Cuomo's term as governor.
The "turn-around board" will be smaller than the 25-member panel now allowed under NYRA's current structure. It would be in place for three years and would include seven governor appointees, five private NYRA appointees, two members each from the Senate and Assembly majority conferences and two non-voting ex-officio representatives of the horsemens' and breeders' associations …
… Cuomo is expected to emphasize a commitment to the future of the racing industry in New York, which relies heavily on video lottery terminal revenues. …
… The deal gives the governor the power to choose the chairman of the association and nominate the next chief executive officer, who will be chosen following a nationwide search. …
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