| An ongoing collection
of notes, comments, and observations by Don Engel, proprietor of
this website, consisting of whatever interests him and, he hopes, interests
visitors to this page as well. Please direct responses to our Voices
From Cyberspace page.
SEPTEMBER 6, 2008
Nobody thought there would be much demand for
yearlings at the bottom of the market, but I doubt that many people thought
it would be this bad.
In the Northern California yearling sale last
week, 45 of the 187 horses that entered the ring left without reaching
the upset price of $1,000. They didn't get a single bid to match the minimum
price that the sale conditions required. Another 54 couldn't draw a bid
above $2,000.
Things were bad, too, at this week's Washington
summer sale, where 34 of the 199 horses that entered the ring left marked
"No bid," having failed to reach the upset price of $2,000.
Not only was the average down 25.8 percent
and the median down 45.8 percent from 2007, the buyback number was 42.7
percent (that included the no-bids), the highest in the sale's history.
The average price of $11,224 was 37.5 percent
lower than the $17,966 average recorded just four years ago, in 2005.
I don't know what the conversations were in
Washington, but only a few months ago CTBA president Leigh Ann Howard and
general manager Doug Burge both were talking about figuring out what was
the proper number of foals that California breeders should produce.
The implication was that there was something
that the CTBA could do to adjust that number. They both said that breeders
needed to produce better foals.
But now, just a few months later, it appears
that the situation is self-adjusting, beyond the control of any administrative
action, by the CTBA or anybody else.
California's foal crop of 2006 will be about
3,300, and that number is expected to slip below 3,000 when all the 2007
foal registrations are recorded, down from a 2005 total of 3,655. Judging
from the devastation at the bottom of the market, it's reasonable to infer
that most of the breeders dropping out are those producing these unwanted
horses. Anything close to 3,000 probably won't be the bottom, when the
shakeout is completed.
Things are at least as bad in Washington.
In 1988, the foal crop in that state was 1,226. The 2005 number will be
about 720, and the early projection is for a 2007 crop below 600.
The market exerts its inexorable force. Capitalism
at work.
I am puzzled by the cries of alarm that you
hear from a number of sources, people worried that the shrinking foal crops
will cause field sizes to shrink as well. If that linkage exists, the way
to increase the size of fields is for breeders to produce more foals.
There's a flaw in that logic somewhere, since
it's evident that there are plenty of foals available to fill those fields,
if somebody would just step up and pay their training expenses. The problem
is that people who want to race horses don't think those bottom-level yearlings
are good enough to win purses.
I don't know how this will play out in other
states, but the California incentive program annually pours millions of
dollars into purses for races restricted to California-breds. Those races
may fill with bad horses, but I can't believe somebody won't enter horses
in them. And they can't enter Kentucky-breds.
We can fret and worry and plot and scheme,
and things will take their course, no matter what anybody does.
In the end, those most hurt by the shrinkage
will be stallion owners, sales companies, farm owners, farm workers, feed
growers, farm veterinarians and farriers, vanning companies, and all those
others who provide services for horses that won't be there any longer.
They'll just be collateral damage.
SEPTEMBER 3, 2008
Another month has passed, and the leaders in
the California 2008 freshman sire race are just the same as they were at
the beginning of August--Momentum first, Cat Dreams second, and Marino
Marini third.
And that means that the one contestant in
our California Freshman Sire Contest who had them right last month, still
has them right and is on track to win the prize of $500.
Four other entries had the top three but not
in the right order, though two of them put Momentum on top. Two others
picked Momentum but had the wrong horses underneath.
Right now, Momentum has a $102,080-to-$76,381
lead over Cat Dreams with Marino Marini at $55,785. Cat Dreams has four
winners to three for Momentum. The only other California sire with more
than one winner is Spinelessjellyfish, with two. He's in sixth place with
earnings of only $15,055. Popular ($39,600) and Slew's Prince ($16,364)
are fourth and fifth.
There's still plenty of 2-year-old racing
on the schedule, and the present leaders' positions are far from secure.
One good stakes win could scramble the standings.
But for now, that one holder of the winning
ticket can hope that things don't change at all. I know she does.
AUGUST 31, 2008
The 2008 Del Mar meeting is nearing its end,
and if you've wondered what happened to racing coverage by the Los Angeles
Times, you must have missed a brief item run in the sports section
early in the meeting. Here's the explanation:
Because of ongoing reductions to The Times Sports staff
and space for news in the Sports section, the handicap charts and results
from Del Mar will not be included in the daily sports report. There will
be coverage of major events during the seven-week meeting. In addition,
other weekly features that have been eliminated are the Gearing Up package
on motor racing, Teeing Off on golf and Corner Kicks on soccer.
That explanation may not be dishonest,
but it is certainly disingenuous. They explain that they're cutting coverage
of other weekly features, too, so it isn't just racing that's getting the
axe. But the "other weekly features" that they list aren't comparable to
racing coverage, because racing coverage is--or was--daily, not weekly.
That's not honest.
Aside from the wish to save space and staff
time, it's likely that there are two reasons for the cutback: (a) anyone
who cares is likely to be getting that information from other sources these
days, and (b) in 2008 nobody much cares about horse racing.
I can fault the Times for the wormy
way that it tried to excuse the cutback, but I can't fault what I believe
were their reasons, or at least their reason. There may be only one. They
may not even know or care enough to consider (a), but they surely know
about (b).
And so do we.
AUGUST 28, 2008
I couldn't write a definition of a Bad Thoroughbred
Sale, but, like pornography, you know it when you see it, and I saw it
Tuesday in Santa Rosa.
If you haven't heard about that sale, click
here and find out.
I've already heard the question asked, "How
long will the CTBA keep holding these Northern California sales?" But I
think that's not the right question. The right question is, "How
long will breeders keep sending their horses to a sale where there's a
50-percent chance that they won't get a bid above $2,000 and a 25-percent
chance that they won't get a bid at all?"
It can't be habit-forming to pay for preparing
a horse for sale, pay for shipping to the sale, pay an entry fee and a
minimum commission, pay for care at the sale--and get a price that will
probably be less than the sale expenses, and maybe no bid at all.
I guess the CTBA will keep putting on the
sale as long as they get enough entries to meet their expenses, and if
people want to spend their money that way, the CTBA will give them a place
to do it, explaining that they're just responding to the wishes of their
members.
The responsible answer for the CTBA would
be to tell breeders to sell their better horses in Southern California
and take the others to the local livestock auctions.
More of the horses in these CTBA sales probably
would get sold if the $1,000 minimum bid were removed, but the purpose
of the $1,000 upset price is to make horses too expensive for the killers
to buy, and at low enough prices they could be headed to the Mexican slaughterhouses,
going first to Arizona to circumvent the California law against shipping
horses for slaughter.
Eventually, many breeders will be driven to
allow the killers to have their horses or to euthanize them themselves.
But it's a rare breeder who can bring himself to such infanticide.
So the only rational course of action is for
them to quit breeding that quality of horse. The problem with that is that
it isn't always easy to know when you're breeding a horse that's one of
those better ones.
After checking out all their alternatives,
many breeders will find that their only rational action is to quit breeding
altogether.
But any rational person has quit breeding
already, so we're dealing with the other kind.
AUGUST 26, 2008
Here's why I'm worried about today's Northern
California yearling sale. Look at these quotes about the Ocala yearling
sale that just ended, from a story by Deirdre B. Biles in The Blood-Horse:
Lynne M. Boutte, consignor: “It's a
little challenging; there is no bottom. I have a lot of blue collar horses,
and I need the blue collar people, but a not a lot of them are here. I
sold a nice little colt this morning for $1,500, I thought sure I was going
to get $8,000 to $10,000, but I've got no reserves on 90% of the horses
I have. It's tough.”
Brent Fernung, Journeyman Bloodstock: “It's
been a tough sale. It looks to me like there is a general turndown in the
medium-priced horse market, and I don't think the weather has helped us
any either.
“You see fuel prices going up, and the economy
is in a general malaise. People who buy these kinds of horses are
more affected by that than the guys who buy a $500,000 horse. Fuel
prices won't bother a fellow who will buy a $1-million horse, but they
will a guy who buys a $40,000 or $50,000 horse. . . . There are a lot of
horses that just can't find a new home right now.”
Richard Kent, Kaizen Sales: “At least
it's better than having a root canal, but not much. It is what it is. They
(the buyers) very picky on what they want, and if you lead a horse up that
they want, there's a fair price for it. Otherwise, there's no value for
it, nothing.”
All these things apply to the Northern California
sale, in spades. I hope it will be different today (and at later West Coast
sales), but I fear the worst. The Ocala sale has always been a much stronger
sale than any we have out here, and if it's in that kind of shape . . .
AUGUST 24, 2008
I noted in the news a few days ago that a 2-year-old
filly had given birth to a foal in her stall at Louisiana Downs, to the
consternation of everyone connected with her, since nobody knew that she'd
been bred.
As often happens if you've had a few experiences,
that triggered a memory.
Years ago, when I was trying to build up my
broodmare band by any means necessary, I spotted a filly with both good
pedigree and good earnings running for a tempting claiming price at Hialeah
Park.
I got on the telephone, tracked down the owner,
and arranged a purchase, pending a veterinary examination for breeding
soundness. I found a vet with a decent reputation and gave him the job.
The next day he called and said that the mare,
whose name was Keep Quiet, had a calcified cervix and could never have
a foal. I thanked him and told him where to mail the bill, which he sent,
along with a certificate stating the reasons that she was turned down.
I forgot about it until, about nine months
later, I read in the Daily Racing Form that a mare named Keep Quiet
had foaled in her stall at Oaklawn Park. Nobody knew how that had happened,
but there definitely was a foal, standing and nursing. She had to have
been pregnant when he examined her.
I thought that was pretty amusing, so I dug
out that vet certificate and mailed a copy of it, along with a copy of
the Racing Form story, to that veterinarian.
He never responded. Some people just have
no sense of humor.
AUGUST 22, 2008
When times get tough, the tough run away.
The tough ones are the survivors, and when
the economy turns bad, they cut back on unnecessary expenses.
Very high up on a list of unnecessary expenses
is surely the purchase of young racing prospects. Like yearlings.
Predictably, that's happening right now at
the big Ocala Breeders' Sales yearling sale in Florida, where the lower
end of the market is nearing collapse.
This quote from The Blood-Horse pretty
much sums it up:
Basically, we’re seeing the results
of the overproduction of mediocre stock,” said Florida pinhooker Eddie
Woods. “Here it is. This is what the whole thing has evolved into. There
are too many mares (in production); it's a bad economy; and, boom, it gets
ugly.
Small business owners probably make up the
core of buyers of yearlings of lesser pedigree, and small business owners
are the first to suffer in a recession. When they feel that financial squeeze,
they quit buying yearlings.
I'm not writing this just as an observation
on the yearling market in general; I'm writing it because the CTBA's Northern
California yearling sale next Tuesday in Santa Rosa is squarely in the
path of that economic tsunami.
Every year since it was inaugurated in 2004,
the sale has seen many horses leave the ring without a bid and many more
either sold or bought back at cruelly low prices. I can't see how that
situation can get anything but worse next week.
Wise consignors will make whatever plans they
can to reduce their suffering. (Unfortunately, I can't think what that
would be, other than to cut the reserve to the bone or expect to still
own the horse after the sale.)
I'm really writing this in the hope that someone
wanting to own a nice saddle horse for very little money will read this
and get out there to the Sonoma County Fairgrounds Tuesday and make a delightful
acquisition.
Some horses always sell well at this sale,
and the ones with quality will still be attractive to buyers with money.
I'm not talking about them; I'm talking about all those others.
The upset price at the sale is $1,000, which
means that the auctioneer won't accept a bid lower than that. Sometimes,
when a sale is really terrible, I've seen auctioneers waive that rule and
just take any bid they can get.
That probably won't happen Tuesday, but if
you want that nice horse cheap, take note of which horses leave the ring
without a bid and get back to the stable area and buy a horse at a shamefully
low price from a seller who'll be pleased to help you do it.
Some consignors, if they're thinking clearly,
will even be willing to give horses away rather than go home with horses
they don't want to own.
AUGUST 21, 2008
The dismantling of historic Bay Meadows is
about to begin, and it's a sad thought.
But I guess there's a consolation prize for
someone who cares enough--and I suspect that lots of people do.
The Great American Group has announced a public
auction of bits and pieces--some large, some small--of Bay Meadows to be
held this weekend, Saturday and Sunday, August 23 and 24.
The GAG is an auction/liquidation business,
a kind of commercial vulture that performs the same service that those
ugly birds perform--stripping the last meat from the bones of a dead creature.
The company's initials seem somehow appropriate.
According to the GAG announcement, the offerings
will include "signage and graphics, concessions and food service, facility
equipment, stadium memorabilia, souvenirs, audio/video equipment, photographs,
tack and riding equipment, and more."
The auction will continue next Monday with
"facility equipment only" to be sold.
That's all I know for sure. I've heard that
everything
will
be on the block, from horse stalls to cocktail napkins. A bonanza for souvenir
seekers and farm owners alike.
If you want to buy, GAG instructs you to register
in advance on their website.
Have a good time, if you can hold back your
tears.
But we must also nourish the living, and CARMA
(California Retirement Management Account) is trying to do just that for
retired racehorses with a charity poker tournament and silent auction at
Del Mar.
The fund-raiser will be held at the Del Mar
Hilton, across from the racetrack, starting at 6:30 p.m. today (Thursday).
The CARMA announcement puts it this way: "Join us for an evening of action,
food, and fun benefiting California's retired racehorses."
Offerings in the silent auction include seasons
to Singletary, Swiss Yodeler, Bertrando,
Cat Dreams, Unusual Heat, Atticus,
Event
of the Year, Tannersmyman, Onebadshark,
Redattore
(Brz), Taste of Paradise, and Candy Ride.
CARMA would like you to register by clicking
here or by calling (626) 574-6618. I don't know whether registering
is required, but I'll bet that if you show up with money to offer, they'll
take it.
AUGUST 19, 2008
The harrowing episode of the endangered Thoroughbred
mares and stallions in Arizona is drawing to a close. Stallions and mares
have been rescued, and now a number of mares are safe at Tranquility Farm
but in need of new homes.
Tranquility president Priscilla Clark, who
did a major part of the rescue work, has finally been able to put together
a list of the mares, and she deeply hopes that each of them will find a
home. Click here for the list.
She's done her part--more than her
part--and now it's up to you.
AUGUST 16, 2008
There's great news about the efforts of Tranquility
Farm's Priscilla Clark to save those horses in Arizona that were threatened
with slaughter. See The Newsdesk page for full
details. In addition, there's a good story on The
Blood-Horse website.
AUGUST 15, 2008
The discussion--maybe even controversy--over
the performance of American Thoroughbred breeders appears to have died
away, but I was reminded of it when I read a Daily Racing Form story
a few days ago.
European horses, the story reported, swept
the top three places in this year's Arlington Million and did the same
in the companion feature at Arlington Park, the Secretariat Stakes. Both
are Grade 1 races.
How can those European horses be so much better
than American ones?
A few hours later, I received an e-mail that
triggered an association--could the problems of American breeding be related
to the influence of the popular computerized nicking analyses that have
become so prominent over the past several decades? As far as I can determine,
nicking is nowhere nearly as significant on other continents, and probably
not significant at all.
(If I'm wrong about that, please advise me
and I'll try to decide whether I'm pleased that they, too, have been corrupted.)
That e-mail came from a gentleman who identified
himself as a pedigree and bloodstock consultant for a major Kentucky breeding
farm. He had just read my article on the false
promise of nicking, and it inspired him to send the following:
I am contacting you, because
I am absolutely astonished how the computerized "nick" has overtaken the
industry, to the point of no other analysis takes place other than getting
the sire's yearling average. We had to put it on our website in order to
sell seasons!
It is now even printed next
to stakes winners in the Thoroughbred Daily News! As you noted in
an old article, "if it is computerized it must be accurate." I am amazed
at how I explain to a breeder for 30 minutes about how genetically all
genes are NOT coming from 4-generations on the sire line, and yet they
still want the A, B, C letter grade--some are almost obsessed with getting
an A++++.
What can be done to create a
revolution against this poor statistic. I was hoping that we could find
a geneticist and a statistician that can help in co-writing an article
that can debunk this stuff before it does any more harm. What did it take,
and how long did it take, before people figured out that using leaches
to suck your blood did not cure and/or bring down a fever?
Do you have any ideas?
I had to disappoint him with this response:
You probably noted that I had
some help from geneticists with my nicking article.
Regarding the eradication of
the nicking kudzu, I've done all I can do and have no energy to expend
on pursuing it further. I willingly leave the fight for truth and integrity
to others, of which I fear there are few.
If I can do anything that requires
little or no effort and no imagination at all, I'm ready for that.
I have had dispiriting results
from my efforts to wage that fight. I've even had the experience of urging
someone to read my nicking-debunking article before paying hundreds of
dollars to buy a nicking analysis and having them respond that they'd read
my article but thought they'd go ahead and buy the analysis anyway so they
would have all available information before making an important mating
decision.
But "information" that misleads
is destructive, not informative. I believe the proper term would not be
"information" but "pseudo-information."
Good luck, and let me know if you find any reason for hope.
I don't expect him to provide me with that
reason for hope. It's too late. The breeding industry has been, I think,
irrevocably corrupted.
I've long been convinced that Jack Werk, who
started the whole thing, was the greatest marketer in Thoroughbred history.
Now, I fear, he may turn out to be the most influential as well.
AUGUST 10, 2008
It's a hard slog untangling that mess in Arizona.
Here's Priscilla Clark's most recent report:
"The support and generosity of the Thoroughbred
community for the recovery of the Warren mares has been absolutely tremendous,
and Tranquility Farm has been in negotiations all week to purchase all
of the mares and stallions at the Arizona feedlot.
"It would appear that the owner of the feedlot,
David Quinn, is convinced that the value of this lot of mares and stallions
is roughly double what they would bring at auction, even though he still
has not provided to Tranquility Farm so much as a listing of the mares'
names. We regret that we cannot provide this to our adopters at this time.
"Negotiations will begin again next week,
but it appears that the feedlot owner needs some time to arrive at a
more realistic price for horses. The feedlot is under close observation
in order to guarantee the security of the mares and stallions."
And she appended this note: "Priscilla Clark
of Tranquility Farm will be interviewed on HRTV on Sunday at 9:45 a.m.
(Pacific Time) regarding the rescue of the Warren mares and the slaughter
situation in California."
AUGUST 9, 2008
Tranquility Farm's Priscilla Clark is still
trying to straighten out the mess in Arizona. She's making some progress,
she reports, but the knot is hard to untie.
She also sent this note: "I will be interviewed
regarding the situation in AZ and CA Penal Code Section 598c, Horse Slaughter
Prohibition, and how it pertains to conduct in racing. It will be on HRTV
Sunday morning at 9:45."
AUGUST 7, 2008
There's an update on the Arizona horse situation
on the Tranquility Farm website.
It appears that the problem is almost under control, but it won't be completely
okay without more help.
AUGUST 6, 2008
The campaign to rescue those unfortunate horses
in Arizona is continuing, with considerable success, but your help is still
needed. See the August 4 entry below to learn how to give it.
Tranquility Farm president Priscilla Clark,
who's quarterbacking the effort, says she'll post a list of the horses
on the Tranquility website
as soon as she can. You can check there periodically to look for it.
AUGUST 5, 2008
For the latest on the horses-in-peril
story described in yesterday's Notebook, click
here.
AUGUST 4, 2008
The war to save retired horses from
slaughter or lives of degradation never ends.
The latest battle in that war has broken out
in defense of a group of 46 horses shipped from California into a threatening
situation in Arizona. Before I go on, click
here and read The Blood-Horse story that explains the situation.
It's an ugly tale, and its finish is still to be determined.
Priscilla Clark, California's most prominent
defender of imperiled Thoroughbreds, is leading the fight to save these
horses, and she's already making progress, but she needs your help.
More accurately, the horses need your
help.
Clark, president of Tranquility Farms, a horse
rescue/rehabilitation/retraining facility located near the mountain community
of Tehachapi, is spearheading an all-out effort to wrest them from their
present precarious position and find homes for them.
Let her speak for herself:
"A rescue is under way for 40 pregnant broodmares
and the stallions Seattle Bound,
Dante's Inferno, Mr. Bolg, Kris Kross, Major Moment and Dynamite Vision.
The horses, originating from Warren's Thoroughbreds in Hemet, are currently
at a lot of a livestock dealer in Phoenix, AZ, and may be at immediate
risk of shipment to slaughter if buyers are not quickly found.
"The horses are at the feed lot of a horse
dealer/killer buyer in Phoenix. He will sell to private parties, but also
ships directly to Mexico, according to local sources.
"We have been told that the papers are with
the mares, and we should know on Tuesday, when we have someone meeting
with the dealer, the names and ages of the mares. I won't know until then
if the foal certificates accompany the papers. That will make a big difference.
Anyway, we can perhaps make sort of a catalog of mares available and put
that up as well.
"This is such a nightmare. I raised over $4,000
yesterday so people are stepping up to help.
"A listing of the mares and who they are in
foal to should be available from Tranquility Farm on Tuesday, August 5.
People interested in purchasing mares may contact Tranquility Farm by e-mail
at info@tranquilityfarmtbs.org
or by telephoning 661-823-0307. Anyone wishing to donate toward the rescue
of these horses may donate on the home page of www.tranquilityfarmtbs.org.
"We will purchase mares with the donated funds
and funds received from people who wish to purchase at least one of the
horses. The horses will ship on to their new homes directly from three
safe locations where we will be keeping them in the Phoenix area.
"The only ones coming here to Tranquility
will be horses on their way north, and maybe a few stragglers that need
adopting. Tranquility Farm is not funded to take on a bunch of broodmares,
so we are finding homes as fast as possible. People are e-mailing and calling
in from all over to see about adopting one of the mares, and I have potential
homes for three of the stallions.
"I'm expediting the rescue and then sending
them all over the place to homes. In a small way, this is sort of like
General Patton saving the Lippizanner stallions after World War II. "
You--yes, you--can help, either by
sending money or, better yet, by taking one of the horses for your own.
But soon.
[Kris Kross
photo by Deanna Sparks.]
AUGUST 3, 2008
When I made that list of grim predictions in
the July 2 Notebook entry, I thought I was making
predictions. You know, about the future. But look at these news reports
from the Daily Racing Form, coupled below with the Notebook forecasts:
Notebook: Fans will drive less frequently
and less far to racetracks, and those who do will have less disposable
income to wager. . . . Gamblers reluctant to travel will present racetracks
with an important new group of potential horseplayers--the stay-at-home
bettor.
Daily Racing Form: Some of the wagering
has migrated from ontrack to account wagering services, as bettors stay
closer to home to avoid high travel costs, [TOC president Drew] Couto said.
To make up that deficit in ontrack business, account wagering handle must
increase drastically.
Notebook: With customers reluctant to
drive to remote locations, Indian casinos far from urban centers will lose
business, as will Las Vegas, opening an opportunity for racetracks.
Daily Racing Form: A softening market
for leisure is not limited to a popular horse racing venue in San Diego.
The Pechanga Resort and Casino in nearby Temecula, a Native American casino,
announced in late July that it was laying off 400 employees, or 8 percent
of its workforce.
I thought my predictions were likely to be
accurate, but I wasn't ready for them to be accurate so soon. Too soon.
AUGUST 2, 2008
The California freshman sire race is continuing
formfully, with Momentum keeping up his momentum (forgive me, but I just
had to do that) with Cat Dreams and Marino Marini holding the second and
third places.
Those rankings haven't changed since July
1, which means that there's still only one of our Freshman Sire Contest
entrants with the correct 1-2-3 selections. Two others have Momentum first,
Marino Marini second, and Cat Dreams third, which is close, and one other
has Cat Dreams, Momentum, and Marino Marini in that order. Nobody else
has the top three, in any order.
(If you don't know who these horses are, you
can find the basic facts by clicking here.)
For the record, here are the earnings of the
leaders' runners: Momentum, three winners, $92,340; Cat Dreams, four winners,
$68,819; Marino Marini, one winner, $47,160. After them come Popular, one
winner, $36,200, and Redattore (Brz), no winners, $12,324.
Momentum's lead over Cat Dreams is only $23,521,
which can be wiped out by the winner's purse in a single race. It's still
early. The stretch duel lies ahead.
JULY 30, 2008
I'd like to take a brief recess from more serious
matters to bring up something that has both annoyed and puzzled me for
a long time.
Why is it that things that are obviously bets
are passed off as investments? Why does horse racing have to jump through
all sorts of hoops when people who gamble on things in the stock-market
arena can just call up a broker and place a bet from anywhere? Why does
the government have to pass laws to allow interstate betting on horse races
when there are no such rules on the gambling that I'm about to tell you
about?
This was brought back to my mind when I chanced
upon an investor-advice column in our local newspaper called "The Motley
Fool."
Under the subheading, "Ask the Fool," a reader
writes:
"My dumbest investment, so far, was to buy
call options on Chesapeake Energy Back in July 2006. Due to warm weather
and record amounts of natural gas inventories, I lost my entire position,
worth more than $2,000, waiting for the cold weather that never came. I
made the investment because I remembered the year before, when natural
gas prices started to go up starting in July. Needless to say, history
didn't repeat itself this time. Oh, well."
Note that he twice refers to his "investment."
Did this fool think he was making an investment rather than placing a bet?
My understanding is that you have to own something
for it to be an investment. If you aren't actually buying something, you're
betting, not investing. Same as betting on a horse race, where you aren't
buying the horse. Nobody calls those bets "investments," except in jest.
Seems to me that the world would be better
off if those "investments" were clearly identified as bets and the participants
in the game forced to play by the same rules as racetracks and racehorse
investors.
Or, sadly, is this a case of class discrimination,
where the suits who play at that level don't have to follow the same rules
as the lowly slobs who bet on the ponies.
JULY 27, 2008
I've been advised that the CARMA deduction
from purses (see July 25 entry below) is 0.003 percent, not 0.004 percent.
So the deduction from a $5,000 purse would be $15, not $20.
But that's not really relevant, because with
those owners who don't want to contribute, it isn't the money, it's the
principle.
JULY 26, 2008
Racehorses are considered to be pretty much
pampered, but they aren't even in the same pamper class with the ones featured
in this
article from the New York Times. Take a look.
JULY 25, 2008
It should have happened years ago--decades
ago, really--but California racehorse owners are finally contributing to
a fund to pay for the retirement of the horses that have brought them excitement,
pleasure, and, in some cases, profit.
(See yesterday's Special
Report for a full explanation.)
But not all owners are contributing. The retirement
plan is funded by a tiny deduction from purses at current meetings, but
not all owners are agreeing to those deductions. The plan is optional,
and it appears that a sizable number of owners are choosing not to allow
those deductions from their purses. (The deductions are four tenths of
one percent, which amounts to $20 from a $5,000 purse, for example.)
There are only two reasons for an owner to
refuse to allow those deductions, and both are based on principles.
The principle most prominently offered is
that each owner should take care of the retirement of the horses that he
races and should not have to help pay for the retirement of anybody else's.
I've heard that position stated by more than
one prominent owner, and though I respect their experience and knowledge,
the principle on which their refusal is based is badly flawed.
Of course, each owner should take care of
his own horses. Unfortunately, most owners don't.
As far as that goes, there are surely some
owners who just can't take on that heavy a burden. If a horse lives only
10 years after retirement and costs only $200 a month--and that's surely
a low figure--that would amount to $24,000. Multiply that by whatever number
of horses an owner might retire over the years, and you've got a big enough
obligation to drive a lot of owners out of the business.
It certainly would wipe out cheap claiming
races. Can you imagine an owner claiming a horse for, say, $5,000, knowing
that if the horse breaks down before he can unload him onto another owner,
he's going to have to support the horse as long as he lives?
A few owners have their own farms and would
be willing to keep those retirees, but most owners don't have farms.
Those owners who won't contribute because
they believe that every owner should care for his own horses certainly
know that every owner is not going to care for his own horses.
Knowing that, how can they maintain that they're
refusing to contribute as a matter of principle? I guess that they'd want
to eliminate the police on the same principle: Everyone should be responsible
for his own protection. (Hello, NRA!)
If those people really believe that every
owner should care for his own horses, how about this: Pass a law making
it a felony for an owner to fail to provide a proper retirement for every
racehorse that ran its final race under his ownership.
If owners should be responsible for the retirement
of their own horses, that would make sure that they did. It would, of course,
destroy racing.
It's obvious that the care of those horses
is a collective responsibility, and that's just the way it is. Why pretend
that it isn't?
The second reason that owners refuse to contribute
is also based on principle. That principle is this: Never pay for anything
unless you have to.
Those are the two principles involved here.
I'd be hard pressed to tell you which is less honorable.
JULY 24, 2008
After all these many, many years, California
owners are finally taking responsibility for the care of their retired
racehorses. At least some owners are.
The organization known as CARMA is in operation,
and before too long there'll be money to help support the equine warriors
who make the entire sport of horse racing possible.
CARMA is an acronym for California Retirement
Management Account, a non-profit entity set up by Thoroughbred Owners of
California.
It's the subject of a Showcase Special Report,
"Caring for the Warriors.". Click here
to learn all about it.
JULY 19, 2008
Unsurprisingly, the Windfall Farms public lien
sale that was to be held next Monday, July 21, has been postponed. It has
been rescheduled for Wednesday, August 20, when it may or may not be held.
The sale has been scheduled and rescheduled
several times--I've lost count of just how many times--because Michael
Power, owner of most of the horses involved, keeps getting court orders
delaying the sale.
That's what happened this time, too. I don't
know whether this can go on indefinitely or whether there's some kind of
limit to the number of times this drill can be repeated, but there's no
clear end in sight at this point.
If you don't know what this is all about,
read the two preceding entries below.
JULY 13, 2008
I have been mildly scolded by a reader who
thinks I should have pointed out in yesterday's Notebook that the public
lien sale scheduled by Windfall Farms has been scheduled and canceled/postponed
a time or two before. I should have pointed that out, he suggests.
He's probably right, though my primary subject
was the offering of the farm for sale and I didn't want to go into detail
on the sale. But, to fill out the record, most of the horses to be offered--including
Siberian Summer--are the property of the controversial owner-breeder-critic
Michael Power, who has prevented the sale of his horses before and has
pledged to do it again.
So before you go up to Windfall for the sale
on July 21, it would be a good idea to check and see whether it's still
going to be held.
JULY 12, 2008
The final chapter appears to be near in the
ultimately tragic story of the beautiful Thoroughbred establishment known
first as Cardiff Stud Farms, then as Creston Farms, and now, in what evidently
is to be its final incarnation, as Windfall Farms.
The 724-acre showplace located near Paso Robles
is being advertised for sale by a realtor at an asking price of $35,000,000.
Offered as a "spectacular 724-acre horse farm with one of the finest equestrian
facilities in the Western US," its true fate is revealed a few lines later
in the flyer advertising the facility: "Windfall Farms sits atop 76 underlying
parcels each with Certificates of Compliance and vast development potential."
Asked for a clarification, a representative
of the listing realtor put it unequivocally, saying, "The property is being
offered for development. It comes out of the Williamson Act in December,
2012, and at that time the underlying parcels with certificates of compliance
will be able to be split out. . . . At the current time, while under the
Williamson Act, the property can be split into two 160-acre parcels, nine
40-acre parcels, and one 10-acre parcel with the remaining acreage grouped
with any of these individual parcels."
Doomed.
(The Williamson Act is the popular name for
the California Land Conservation Act of 1965, which offers greatly reduced
property taxes in exchange for entering into long-term contracts restricting
the use of the property to "farming and open space.")
If the final selling price comes anywhere
near the $35,000,000 being asked, it will surely provide a handsome profit
for the third owner of the property, a group headed by the Davis family
of Paso Robles.
Opened in 1986 as the magnificent realization
of the vision of Santa Clara County horseman/developer Fred Sahadi at a
cost of an estimated $18,000,000, the facility flourished for a time as
Cardiff Stud Farms. (Sahadi also built the Barretts sale complex at Fairplex
Park.)
But in 1993 the bank that had financed the
venture foreclosed and put the property up for sale. Three years later,
eager to get the white elephant off its books, the bank sold it to Alex
Trebek, host of television's "Jeopardy," for only $4,100,000.
That must have looked like a great investment
to Trebek, who renamed it Creston Farms, but he soon lost interest and
the property fell into disrepair.
In 2005, the Davis group took it off his hands
at an undisclosed price. Whatever that price was, it surely was much, much
less than $35,000,000.
The property then was renamed Windfall Farms,
but its new owners could never bring their operation into focus and in
January they just about shut down, dispersing the farm's stallion tenants
and announcing that the farm operations would be limited to breaking and
training.
Whether or not that will continue, the finish
line is in sight.
As a final flourish, Windfall Farms has scheduled
a public lien sale on Monday, July 21, of 27 horses owned by five of the
farm's clients. The process, colloquially know as a "sheriff's sale," is
typically employed to sell horses to settle unpaid board bills.
The most prominent of the horses listed for
sale is the 19-year-old stallion Siberian Summer, sire of 10 stakes winners,
including Dream of Summer ($1,191,150) and Summer Wind Dancer ($898,762).
He bred 62 mares in 2007 but was not bred at all in 2008, though he was
at Windfall Farms this spring.
All in all, a sad business, and a sad
time for the California breeding industry.
If you want to buy those horses, call
(805) 239-0711. If you want to buy the farm, call (805) 543-7727.
JULY 4, 2008
Time out now from existential problems to take
a look at the half-year shape of our Freshman Sire Contest.
Counting racing through July 2, the leader
is Momentum, with Cat Dreams second, and Marino Marini third. Just one
of our contestants has the top three in that order; seven others have the
top three in some other order.
Momentum had six starters, three winners,
and $92,340 in earnings. Cat Dream had seven starters, three winners, and
$64,214 in earnings. Marino Marini had two starters, no winners, and $15,360
in earnings.
Redattore (Brz), with two starters, no winners,
and $7,440 in earnings, was fourth. He's off to a great start in Brazil,
where his first crop is six months older, but by agreement of our contestants
they won't be counted.
There's still a long way to go, but up to
now the most popular choices are up near the top. The winner of this year's
contest will get a prize of $500, unless it has to be split with others
who had identical choices. We've got enough tie-breakers in place to make
a tie pretty unlikely.
(I hope I used "existential" correctly. I've
waited decades to decide what it means, and I'm trying it out for the first
time.)
JULY 3, 2008
I've had several responses to yesterday's apocalyptic
predictions, and for some reason none of the writers want me to post their
letters. Unfortunately, all but one agreed with me. I'd hoped that someone
would explain to me how I was wrong.
The one dissenter didn't disagree with my
predictions but said that I shouldn't have focused solely on the effects
of oil prices and should also have listed the other things that are threatening
our industry as well.
He's right. I should have have concluded with
something like this: "All this in addition to all the others problems that
the industry has already been facing."
Somehow it doesn't make me feel a bit better
to be reminded that we were in trouble even before oil prices went crazy.
JULY 2, 2008
No one appears to have noticed, but the sport
of Thoroughbred racing is heading inexorably into the most perilous time
it has faced since World War II, when the federal government shut down
all the tracks.
The potentially lethal force creating the
threat is the high price of oil, and the consensus of experts is that it
will go higher--perhaps much higher--before it levels off.
Already high fuel prices are stripping money
from everyone who drives a gasoline or diesel-powered vehicle as well as
burdening businesses with crippling increases in costs. The only thing
that can change that situation is the development of some lower-cost replacement
fuel, and that is nowhere in sight.
Profound changes are coming to the Thoroughbred
industry, and it may not survive.
I'm not capable of organizing all the elements
of the situation into a coherent presentation. I can only offer observations,
predictions, and an occasional suggestion, as follows:
.....
The price of feed will continue to rise, forcing increases in trainers'
day charges and farm boarding rates.
.....
The cost of shipping horses will continue to rise, reducing the movement
of racehorses from track to track and of broodmares from farm to farm.
.....
Fans will drive less frequently and less far to racetracks, and those who
do will have less disposable income to wager.
.....
Reduced income will drive small-business owners, a major segment of breeders
and racehorse owners, from the game.
.....
Higher costs and the reduction in the broodmare population will force many
public breeding/boarding farms to close.
.....
With few exceptions, only upper-income people will breed and/or own racehorses.
.....
Weighing operating costs against potential revenue, the remaining breeders
and racehorse owners will seek higher-quality stock. Lower-quality stallions
and broodmares will be forced out of production.
.....
With fewer owners racing fewer horses, racetracks will have difficulty
filling enough races to present programs.
.....
With the cost of transporting broodmares at oppressive levels, The Jockey
Club will come under great pressure to legalize artificial insemination,
with semen rather than mares shipped.
.....
Shipping horses by rail, a practice that was common even into the 1960's,
will again become attractive, even for top-quality horses.
.....
With customers reluctant to drive to remote locations, Indian casinos far
from urban centers will lose business, as will Las Vegas, opening an opportunity
for racetracks.
.....
Gamblers reluctant to travel will present racetracks with an important
new group of potential horseplayers--the stay-at-home bettor. Simplified
forms of Advance Deposit Wagering could attract those gamblers, helping
make up for the loss of on-track business.
.....
Many racetracks will close, especially those located significant distances
from urban centers.
.....
Racetracks located near public transportation will have a better chance
of survival. Tracks may choose to offer shuttle service to and from stations.
Summarizing: If racing survives at all, it
may well again be as the Sport of Kings, with only the wealthy able to
participate as owners and breeders.
This isn't fantasy.
JUNE 30, 2008
I am not alone.
Roger Attfield, a Canadian Hall of Fame trainer,
was asked this question by Thoroughbred Daily News: If you could
change one thing in our sport, what would it be?
His answer: "Zero tolerance of all drugs,
let's have a level playing field."
JUNE 28, 2008
I've gotten a few responses
to my appeal for help (see June 21 entry below), and I doubt that there
will be any more. So here's what I've learned:
Nobody has provided any answers that I find
completely satisfying, though Linda Vetter comes close, but as valid as
her statements are, the question still remains: Where is the evidence that
breeders who race are, as a group, wiser than buyers, and that they make
choices that are different from those of buyers? I seriously doubt that
anything approaching a majority of breeders are as rational as Linda is.
Let me summarize what we're discussing.
Some experts have suggested that breakdowns
have become more prevalent because more breeders are selling their horses
than are keeping them to race themselves.
In other words, breeders breed for sale horses
that are less sound than those they would breed for their own racing stables
and buyers buy horses that they think are the best racing prospects and
are willing to accept a higher risk of unsoundness in exchange for a higher
probability of racing class.
This appears to bring us to this: For their
own racing stables, breeders prefer to produce horses that can't run as
well but last longer.
If you believe that, the question is answered.
But I don't believe that.
Some breeders may make such a choice, but
it is inconceivable to me that there are enough of them to create a significant
difference between the soundness of horses sold at sales and those that
are not. Until someone comes up with proof of such a difference, we just
don't know and are left with opinions.
So, in summary, my opinion is that those experts
who believe that the cause of widespread racehorse breakdowns has anything
to do with breeders breeding to sell rather than to race don't really understand
what they're saying.
Anyway, that's the way it looks to me, so
I'll move on, tossing that theory out into that cyberspace where e-mails
cluster when they never get where they're supposed to go.
Now, moving on . . .
Even though trainer Jack Van Berg, whose career
spans several eras, recommended it at the recent Congressional hearing,
I'm a little apprehensive about saying what I'd like to see done.
And that is this: Disqualify any horse that
tests positive for anything after a race. In other words, no medications
in the horse when it races.
That would certainly reduce the number of
breakdowns by keeping sore horses from running. Medications that relieve
pain and temporarily reduce inflammation keep horses racing when they have
physical problems that should be treated, usually by rest. When medications
keep horses racing, the problems are likely to get worse and in many cases
lead to breakdowns.
These efforts to get one more race out of
the horse are a major contributor to breakdowns. If the horse's welfare
were the primary consideration, the best thing would be to take him out
of training and give him a chance to get well, either by additional treatment
or just by rest. Almost all horses that suffer catastrophic injuries have
had some earlier injury that contributed to the disaster.
Putting it another way, a horse that has to
be medicated in order to race has no business racing.
It isn't likely that many people would dispute
any of that, but there is one powerful argument against doing it.
Owners carry a heavy financial burden, and
forcing them to take a horse out of training not only removes his opportunity
to earn purses but incurs expenses while he's recovering--if he ever does.
You can argue that when the horse does come
back to the track he'll be healthier and probably will run better and last
longer, but the added financial burden of that down-time certainly might
force some owners out of the game.
You can also argue that taking such horses
out of training will reduce field size, which nobody wants. In the long
run, that may not be true, but there would be a lag time while the system
waited for those recovered horses to return to the track, if they did.
There are two sides to this, and both sides
have valid arguments in their favor, so it comes down to a choice: Do you
protect the horse or do you protect the owner and the track?
That may be an oversimplification, but if
it is, it isn't much of one.
Now it's your turn. Send your comments
to "Voices." And I'll predict that some of them will begin with this: "I'm
all in favor of protecting racehorses, but . . ."
JUNE 22, 2008
I'm starting to get some help with the problem
that I explained in yesterday's posting, and I'm putting them on a separate
page rather that try to jam them in here. Click
here to read them.
When it appears that everybody who's going
to check in has done so, I'll study them and see whether I have an answer.
I have noted, though, some tendency to veer off into the difference between
the management of sale horses and those not sent to sales. My question
is whether there is a difference in breeders' choice of matings for the
two different purposes.
If you have ideas, let me hear them.
JUNE 21, 2008
Before we all get too deep into the multiple
aspects of the causes of breakdowns by racehorses, I have a question that
I need help with.
Amid the numerous causes of unsoundness that
I have heard assigned blame is this one: Breeders are breeding to sell,
not to race.
That has been offered by some prominent, knowledgeable
experts, so I have to take it seriously, even though it seems to me to
be nonsense.
Here's why I'm having trouble with that: I
can't understand how there there can be a difference between breeding to
sell and breeding to race, because those horses are sold to people who
plan to race them. So what would the breeder do different if he were going
to race the horse instead of selling it?
The only way for that to be possible would
be for the breeder to believe that he knows more about what makes a racehorse
than buyers at sales do. Since many of the most knowledgeable horsemen
in the world advise the buyers of those horses, can breeders possibly be
so arrogant as to believe that their judgment is better than the judgment
of those buyers?
Those buyers want horses that can win races
and earn money. If breeders are producing horses in order to please those
buyers, isn't that a pretty good way to produce horses that can win races
and earn money?
If those buyers want unsound horses that run
fast, is that then the definition of the ideal Thoroughbred? If it isn't,
who gets to write that definition?
Anyway, I'm not asking rhetorical questions
here. I really want you to explain this for me. I must be missing
something important.
Send me an e-mail. I'll post every response
that I get. If you don't want your response posted, don't send it. If you
don't want your name posted, tell me and I won't.
JUNE 20, 2008
Thursday's appearance of racing and breeding
moguls before the House Energy and Commerce Committee subcommittee produced
testimony that was interesting, candid, and astonishing.
For one of the few times in human history,
rulers of fiefdoms within a kingdom sought to cede their power to a higher
authority.
One after another, industry leaders testified
that they were powerless to solve their problems and called for creation
of some entity to rule them and and bring order to the land.
Members of Congress, who have a quest for
power embedded in their genes, listened receptively while giving no indication
of what they might do to set things right.
The basic problem with attempts to control
the drugging of racehorses is that regulations all are established by states.
Nobody has the power to enforce nationwide conformity or uniformity.
The widespread--some say rampant--administration
of legal drugs quickly became the focal point of the hearing, climaxed
by the declaration of Hall of Fame trainer Jack Van Berg that all horses
should have to race with no medications of any sort--just "hay, oats, and
water."
The implication was that if a horse required
medication--including lasix and bute--he shouldn't be allowed to race.
I don't recall whether anyone put it that bluntly, but someone probably
did.
I guess it wasn't surprising that the only
speakers who opposed the idea of a national racing office were the heads
of the two leading national organizations, The Jockey Club and the National
Thoroughbred Racing Association.
They didn't want to surrender power, even
though they have not done anything to solve the problems raised at the
hearing and, in fact, have no ability to do so.
Somewhat to my surprise, the members of the
subcommittee appeared to know enough to ask the right questions, though
one of them edged near to the unreal by suggesting that perhaps The Jockey
Club should refuse to register horses inbred closer than a 4 x 4 cross.
Probably wisely, The Jockey Club's president
and CEO, Alan Marzelli, leaped sideways away from that patch of quicksand
by pointing out that his organization's rules for registration had to conform
with international standards, which would never be changed to comply with
such a rule.
It might have been interesting to hear experts
testify about the best way to legislate the breeding of a good horse, but
there surely would not have been unanimity that could possibly have led
anywhere.
The hearing covered just about the full range
of industry problems, all the way down to testimony by the operator of
a horse retirement/retraining facility who got in a good shot about the
failure of the industry to provide for its discarded athletes.
The hearing was called in response to the
furor about the fatal breakdown of Eight Belles--and of Barbaro two years
earlier--and the subsequent publication of statistics on racehorse mortality.
The day's events showed that somebody needs
to do something and that control--even prohibition--of drugs probably
is a good place to start.
I had feared that any legislation passed by
Congress would be ill-considered and ill-conceived, but maybe it won't
be. Maybe federal intervention is just what's needed here.
JUNE 15, 2008
Next Thursday a House of Representatives subcommittee
is going to hear testimony, under oath, by 12 representatives of the Thoroughbred
industry. They're going to testify about the sport's policies regarding
the use of anabolic steroids, and maybe other drugs, too.
I can't imagine what those legislators
are going to make of what they hear.
They'll be told
that . . . steroids aren't performance-enchancing, in the sense that a
horse gets a shot and then runs faster . . . but, yeah, they probably help
a horse to run better . . . and we know that they're illegal just
about everywhere else in the world, and we're really working to make them
illegal here, too . . . and we've pretty much figured out how to test for
steroids (don't know how they've been taking care of that in those other
countries all these years) . . .but, you know, each state makes its own
rules, so it's really hard to get all this worked out . . .
They say that making laws is something like
making sausage--something you don't really want to watch because it's so
messy. But watching racing laws get made is even harder, because you can
go crazy waiting for everybody to agree on the recipe.
But it will be even worse if Congress decides
to write the cookbook.
JUNE 13, 2008
The 2008 freshman sire race in California has
gotten off to such a slow start that I forgot to provide the promised first-of-the-month
report for June.
So here's the way it stand for racing through
June 11:
1. Cat Dreams, $53,919. 6 starters,
2 winners.
2. Momentum, $49,280. 5 starters, 2
winners.
3. Ancient Art, $5,840. 1 starter,
0 winners.
4. Marino Marini, $5,760. 1 starter,
0 winners.
5. Redattore (Brz), $5,040. 1 starter,
0 winners.
Four of the 20 contest entries listed Cat Dreams
as No. 1, and just one of those put Momentum at No. 2. None of the entries
named Ancient Art anywhere.
The most popular selection was Momentum, on
top of six entries, with Cat Dreams and Marino Marini picked on four, Redattore
(Brz) on three, Popular on two, and Vronsky on one.
With plenty of 2-year-old stakes races coming
up in the next couple of months, someone's due for a breakout.
But not yet.
JUNE 6, 2008
It appears that all sorts of people are concerned
about the present preference by breeders of speed over soundness. There's
an article in the Daily
Racing Form and another in the Wall
Street Journal.
The article in the Form reports
on the explanation of the breeders of Eight Belles of how they did, in
fact, breed the ill-fated filly for soundness. At somewhere around the
same time, an article by the respected turf writer William Nack explains
on the espn.com website how she was, in fact, bred to be unsound (though
not intentionally, of course).
I couldn't find a link to that article, but
Barbara Lopes of Lakeport sent along a copy and I've transferred it to
a
Showcase page. The article quotes pedigree guru Ellen Parker, who blames
much of the present situation on Native Dancer and his influential sons
Raise a Native and Mr. Prospector.
The best thing about all this is that people
are talking and even appear to have decided that there's a problem. That's
where you have to start, by identifying a problem. That's being done, so
there's hope.
However, since change will have to be brought
about by individual breeders making their individual mating decisions,
it will be years before we know whether any progress has been made.
JUNE 5, 2008
This doesn't quite rise to the zen-like level
of the question, "What is the sound of one hand clapping?" but a statement
quoted in yesterday's notebook does bear examination.
Our correspondent wrote, "Slow horses = no
fans."
So . . . if all the horses in the race are
slow, do fans know that they're slow?
JUNE 4, 2008
A breeder whom I have found to be an astute,
insightful observer of our industry sends along comments relating to my
proposal for redirecting breeders' choices from speed toward stamina.
He writes, "Admittedly I have no direct experience
with the breakdown of any horse I bred. That's because I have excelled
at breeding slow horses. It really is all about speed. Among the reasons
why claimers generally and other slow horses can make so many starts is
that they are slow. In a nutshell, they don't run fast enough to
hurt themselves.
"In this sport the fastest horses win
the prize. As usual, Don, you hit the nail on the head: unless through
the almighty prescience of Congress the industry somehow successfully reorients
toward rewarding slow runners, breeders and owners will continue to covet
stock with speed.
"Slow horses = no fans. Ain't gonna' happen."
His comments made me realize that in my earlier
(May 30) Notebook entry on the subject I had neglected
to make clear that I wasn't proposing that breeders seek stamina without
speed. There's a word for horses with stamina and no speed: plodders.
I'm certainly not recommending that everybody
should aspire to produce plodders, though I guess if a plodder was faster
than all the other plodders, he'd be a valuable horse . . . well, I don't
think I want to get into that. What I would like to see is breeders sending
their mares to stallions who had shown both speed and stamina.
As I said in my earlier piece, I am assuming
that there's a correlation between soundness and the ability to race at
longer distances. If you don't agree with that assumption, you can tell
me about that, too.
In his comments, my friend appears to be making
his own assumption, that horses that can get a distance of ground are necessarily
slow. But the goal, after all, is to produce a horse that has speed and
can carry it over a distance of ground.
Those stallions certainly exist. I don't think
it was too far back in the dark ages when breeders looked for a stallion
that had stamina and was sound but had performed well at 2. Right now,
many breeders are happy to settle for precocity and speed without stamina
and soundness.
Certainly there are stallions with speed,
soundness, and stamina. They should be treasured.
My correspondent followed not long after with
a second e-mail, making a salient point:
"I don't think it is genetic at all. It is
how we train race horses to compete.
Establishing a series of distance races wouldn't alter the gene pool
in any way, but it would force trainers to alter their approaches to training.
"The fact that Kenyans dominate international
marathon racing is not genetic. It is the way they train, where they train
(up and down Kenyan mountains) and discipline."
I can't quarrel with that observation, which
shifts the responsibility from breeders to trainers (and owners, of course).
But we wind up in the same place. If trainers train horses to go a distance,
they still want a horse that can get that distance faster than his competition.
In that case, they want horses that run fast
and don't break down early. That's not their preference when so much money
is available for horses that run fast and break down early and so little
for horses that don't run quite as fast but can run farther and last longer.
JUNE 3, 2008
Mary Forte of Solana Beach suggests that this
article in the New York Times may help explain why there's a
movement toward banning the use of steroids in racehorses, and I agree.
MAY 31, 2008
The tension between horse retirement and horse
slaughter will be with us for a long time, I fear. It even relates to the
problem of racehorse unsoundness, since a horse too badly injured to be
useful but not badly injured enough to be euthanized is a prime candidate
for slaughter.
For an insightful analysis of all this, click
here.
MAY 30, 2008
If anybody has any ideas about how to get breeders
to shift from seeking speed rather than soundness, I haven't heard them.
Now, to my surprise, I've found someone
with an idea.
Me.
My plan assumes that there's a correlation
between soundness and the ability to race at longer distances. Can there
be any doubt that there is?
The idea was triggered by this item from the
Australian
Breeding and Racing Magazine's website:
Callander Blasts Racing NSW For Lack Of Staying Races
Leading turf columnist Ken Callander
served it up to Racing NSW programmers in The Daily Telegraph, branding
them "our weak racing administrators" who "do not have the guts" to program
more staying races. Callander declared: "What is needed is for Racing NSW
to announce a 5-year plan for a dedicated build-up of staying races guaranteeing
a certain number of staying events & adding extra prize-money for these
races. Coolmore Stud has tried to improve the staying influence in Australia
by standing horses such as Montjeu & Galileo, but it is discouraged
by Racing NSW continuously catering for speedy squibs. Don't laugh, but
before long we will be calling 1400m races staying tests."
I don't know how they would go about making
that happen in Australia, but in California, at least, that could be accomplished
by fiat. The CHRB could pass a rule requiring a certain percentage of stakes
races be run at a mile and a quarter and farther. There would certainly
be a hail of criticism if they tried to do that, and it may even be illegal.
But it's an idea.
If that isn't possible, the CTBA could do
something. After all, if the problem lies with breeders, a breeders' association
logically should be taking the lead in looking for a solution.
The CTBA could require that a specified number
of stakes races restricted to California-breds be run at distances longer
than those being written at present.
It would have to be done over a period of
several years, with the distances for all Cal-bred stakes gradually increased.
There would be a time lag, of course, between booking a mare to a stallion
and having a racehorse ready to run a distance of ground, but we could
wait.
Is anybody serious about trying to solve the
problem? Or is the answer, "Gee, yes, but not if we have to do something
that
radical."
Or will we hear the standard knee-jerk response
to any new idea in this industry: An explanation of why it can't be done.
MAY 29, 2008
A long-time California breeder whom I've known
for many years but doesn't want to be identified here has responded to
my comments on plans for a Congressional committee to step in to deal with
the problem of racehorse breakdowns. I want to pass those comments on to
you, probably because I agree with almost all of what follows:
"Just read your editorial on breakdowns and
that Congress is going to get involved. The real problem is not so much
that Congress is getting involved, which is bad enough, but that our industry
cannot do anything for itself to keep itself from drowning.
"As you know, any time you get the government
involved, it is a dangerous thing. First, they do not know anything about
the industry, especially the breeding end of it, and they will just about
believe anything that they are told and go from there.
"What they do not realize is that the industry
does not want to change a thing. As long as the sales run the show, everything
is just fine. Band-aids like synthetic tracks will not save the breed.
All it does is allow for more breeding of unsoundness; it's just being
used as a safety net,
"As you well know, just about all of the sound
bloodlines are gone. So-called popular (but unsound) ones continue to proliferate.
The industry is doing it to themselves and cannot or will not see the light.
They have now brought on the government, which is the worse thing that
can happen. After being in the industry for 53 years, I can say that we
are seeing the industry destroying itself."
I don't have quite that apocalyptic a vision,
but I certainly agree that we are in bad shape and things are not getting
any better.
I'm going to write more about this whole problem
in the next week or two. You're invited to write, too.
(Some of you are already
writing.)
MAY 26, 2008
Just about every expert in the Thoroughbred
industry has weighed in on the question of racehorse fatalities since the
breakdown and death of Eight Belles in the Preakness Stakes earlier this
month.
And now the federal government is going to
do its part.
The United States House of Representatives
Subcommittee on Commerce, Trade, and Consumer Protection has served notice
that it's going to move in and straighten things out.
Good luck.
The Subcommittee wants the Association of
Racing Commissioners International to provide information, and soon--by
June 2, less than two weeks from the time of the request. The legislators
want to know about breakdowns, drug use, and breeding.
Most of the industry people who have offered
opinions as to the cause of breakdowns have included drug use and breeding
on their lists of possible causes, along with 2-year-old racing, excessive
numbers of starts, running females against males, excessive whipping by
jockeys, and dangerous racing surfaces.
For the moment, let's put aside all those
except breeding, which may well be the most likely cause of breakdowns.
Just about everybody agrees that breeders
have abandoned soundness as a requirement and gone overwhelmingly for speed.
A fast horse can win a lot of money before breaking down. That pretty much
sums it up. Everybody mourns when they break down so badly that they lose
their lives, but, hey, that's just part of the sport.
So let's agree that breeders ought to try
to breed sounder horses. How are you going to get them to do that? As long
as both buyers of racing prospects and breeders who race their own value
speed more than soundness, horses are going to be bred for speed, regardless
of soundness.
Certainly there are ways to reduce the incidence
of breakdowns and the committee should explore those.
But there is just no way that breeders can
be coerced into doing what they think isn't in their best financial interest,
not as long as free enterprise exists. Maybe education could convince them,
but what would that additional knowledge tell them? That there's more money
to be made by valuing speed over soundness.
So I'm eager to see just what Congress does
with that problem. Maybe after a lot of expert testimony they'll find that
sound horses break down less frequently (that's why they're called "sound")
and that breeders value speed more than they value soundness.
If they can devise a law that fixes that,
they can devise laws to fix global warming, worldwide hunger, AIDS, malaria,
high oil prices, education, racial and gender bias, and all those other
troublesome problems. Maybe even tornadoes, floods, and earthquakes, too.
MAY 22, 2008
Jockeys all over the world suffer serious injuries.
From the Australian Breeding and Racing Magazine's website there's
another report of a jockey badly hurt in a fall.
This rider was hurt in a way that American
jockeys usually aren't. Here's the report:
"New Zealand's top jockey, Michael Walker,
remained in a critical condition, in a coma with head injuries, in Auckland
Hospital last night following his fall down a cliff while pig hunting in
Taranaki bush on Monday."
There's a lesson here for all of us, not just
for jockeys: Be careful walking on the edge of cliffs when you go pig hunting.
Especially in the Taranaki bush.
As unusual as it was, Walker's fall is no
less serious and potentially tragic as a bad fall in a horse race. It's
just different.
MAY 18, 2008
Many of the stories about our sport/industry
that appear in the mainstream press aren't worth reading, but yesterday,
on one morning, two major newspapers offered articles that I think you'll
find of interest.
One was in the Washington
Post, the other in the New
York Times. Take a look.
MAY 15, 2008
The Thoroughbred Timesstory
on Tuesday's Barretts May sale of 2-year-olds in training contained these
two paragraphs:
From the 328 juveniles originally
cataloged for the 2008 auction, Barretts reported 147 horses as sold for
total receipts of $7,816,400, a 31% decrease compared with last year’s
record total of $11,331,300 from 181 horses sold. Average price dropped
15.1%, from the 2007 record of $62,604 to $53,173. Median dipped 4%, from
$25,000 last year to $24,000. The buy-back rate increased from 31.7% in
2007 to 33.5%.
“There was a lot of money for the
good horses, but weakness in the middle and lower ends,” said Jerry McMahon,
president and general manager of Barretts.
The first paragraph provides the statistical background
for the second. The second, as you can see, is a quote from Barretts president
Jerry McMahon.
I'll bet you could go back one, two, three, or
maybe even more years and find an identical quote from McMahon, maybe even
verbatim. That is no criticism of McMahon, who is always upfront and honest.
What it does tell you is that the market is continuing, year after year,
to punish the great majority of sale horses that are just good, solid racing
prospects.
It rewards the favored
few who have that extra whatever-it-is that buyers at top of the market
are looking for.
Over and over it has
been shown that hardly any of those desperately desired prospects run as
well as a great many of those who were rejected by the big-money buyers.
Something is seriously
wrong when a horse has to have that Certain Something in order to bring
that big money. Pedigree helps, though it's not necessary. But something
is wrong, because there's no way to breed for that Certain Something. It
just happens. The horse moves "athletically," he has a "great attitude,"
etc. Or even, heaven forbid, he "looks like a runner."
What's a breeder to
do?
MAY 13, 2008
I don't know whether
to bid my tearful goodbye to Bay Meadows now or to wait until the last
race is run on August 18.
Sunday's racing program
was the last that will be run as part of a Bay Meadows meeting. The San
Mateo County Fair meeting--usually known as the Bay Meadows Fair--will
provide a two-week curtain call in August as the concluding event of the
Northern California fair racing season.
That, I guess, will
be the funeral for the 74-year-old track, which will be demolished to make
way for commercial development. It was pronounced dead as night drew near
Sunday.
That development has
been in the works for several years, but the track had continued to operate,
one year at a time. The CHRB's decision to require that California's major
tracks would have to install artificial surfaces disconnected the track's
life-support systems.
The track's management
got a one-year waiver on the requirement that enabled them to race this
year, but clearly the end was near. There was no way that the track's owners
were going to spend millions and millions to install an artificial surface
that would be used for only a year or two.
Now that Bay Meadows
has been pronounced dead, everybody can get on with the too-long delayed
business of deciding where to race those dates that no longer have a home.
That project requires immediate attention.
The death of Bay Meadows
marks the first time in 44 years that a major California racetrack has
been lost. The last time that one closed, forever, was on July 31, 1964,
when 65-year-old Tanforan,
located in nearby San Bruno, was destroyed by fire.
Bay Meadows won't be
granted such a spectacular death. It will just be euthanized, cold-bloodedly.
MAY 2, 2008
Sorry to interrupt the
buildup to the Kentucky Derby, but there's nothing new to report and it's
time for the monthly report on the 2008 California Freshman Sire competition.
Right now just one of
the entrants in our contest has a winning ticket, having picked Momentum,
Cat Dreams, and Redattore (Brz) to finish 1-2-3, which is exactly the way
they stood at the end of April.
Momentum, with earnings
of $28,480, and Cat Dreams, with $8,767, didn't add a dollar in April.
Redattore, with $5,040, displaced Slew's Prince in the No. 3 spot.
Only Momentum
has sent a runner to the winner's circle so far, but the action will heat
up when the Hollywood Park juvenile program gets rolling, especially when
the money from 2-year-old stakes races is distributed.
Now my attention returns
to Louisville, where I'm hoping that Bob Black Jack shows the world what
real California speed looks like. And if he doesn't, maybe Gayego will
provide a consolation prize. He's not a Cal-bred, but all his connections
are Californians, and that sure beats an empty stall in the starting gate..
APRIL 29, 2008
Well, unless something
bad happens to Bob Black Jack in the next few days, there will be a California-bred
in Saturday's Kentucky Derby.
At No. 20, the speedy
son of Stormy Jack was at the tail end of the list of eligibles for the
big race based on earnings in graded stakes races. But first Proud Spell
(No. 2) and then Behindatthebar (No. 19) opted out, so Bob Black Jack has
moved up to No. 18 and is eligible to enter the starting gate Saturday.
If you want to see that
he really is entered, you can watch the draw for post positions at 2 p.m.
today on ESPN2.
APRIL 27, 2008
In telling the story
of Black Jack Attack (see the April 26 entry below) and ending with the
report that he'd been slaughtered, I carelessly created the impression
that he is dead and that the search has ended.
I concluded with that
notation for dramatic effect but didn't point out that whoever added
that death notice couldn't possibly have known what happened to the horse.
I thought it was puzzling
that someone had added that to his pedigree entry, and I suppose that my
publishing it without expressing skepticism revealed my belief that the
horse will never be found.
The fact is that the
search is continuing without slowing, so if you have any clue as to the
whereabouts of Black Jack Attack (or to, sadly, his fate), please let me
know and I'll advise the Glenneys.
APRIL 26, 2008
A touching, and depressing,
report that landed in my e-mailbox a few days ago illustrates the complexity
and difficulty of saving from slaughter or lives of misery the many, many
racehorses whose competitive careers end each year.
Unlike the usual stories
of uncaring owners who turn their backs on the horses that have brought
them pleasure--and sometimes profit--this tale related in painful detail
the efforts of a Mr. and Mrs. John Glenney, the breeders of one of those
runners, to do the right thing.
They wanted to make
sure that the horse, a 7-year-old gelding by Carson City that they bred
in Kentucky, had a comfortable retirement, and they were ready to provide
it.
He'd gotten away from
them in a claiming race, but they weren't concerned, because they believed
that when his racing career ended they could just repurchase him and give
him a proper home.
When it became apparent
that the horse, whose name was Black Jack Attack, was approaching the end
of a hardscrabble career in which he'd won twice in 29 starts over five
seasons for earnings of $136,990, they contacted his trainer at Bay Meadows.
Too late.
According to the report
that I received, the trainer treated their inquiry "in a dismissive manner."
They finally were told that the trainer had given the horse to a groom,
who'd sent him on to a sister in Mexico.
The Glenneys called
back, this time offering a substantial reward for information leading to
the return of the horse, and the trainer, memory refreshed, told them that
he'd given the horse to a pony boy, not a groom, after all, though he really
couldn't remember, because he always "just gave them to whoever would take
them and give them a home."
I won't go into the
considerable detail that the e-mail related about the Glenneys' efforts
to find Black Jack Attack, but you could safely say that they've tried
everything,including
seeking information from a New Mexico operation known for sending horses
to Mexico for slaughter.
No success, but they're
still trying.
Though the search continues,
the fate of Black Jack Attack may have been summed up by this entry on
his page in the online Thoroughbred Pedigree Database: "As of April 2008:
Presumed SLAUGHTERED IN MEXICO R.I.P."
APRIL 25, 2008
The 2008 Kentucky Derby
may or may not turn out to be a close race, but the battle for the last
place in the anticipated 20-horse field is going right down to the wire,
with the lone California-bred contender fighting to the end.
That Cal-bred is, of course,
Bob Black Jack, the Cinderella son of Stormy Jack.
The field for the big
race is limited to 20 horses, and priority for entry is given to the horses
with the greatest earnings in graded stakes races. Bob Black Jack has earned
$180,000 in those races, thanks in considerable part to his $50,000 purse
for running second in the Grade 1 Santa Anita Derby.
Bob Black Jack had been
hanging onto 20th place in graded stakes earnings among horses that are
planning to run on May 3, but now he isn't. The latest list that I've seen
appeared in Wednesday's edition of the online Thoroughbred Daily News,
and it had Bob Black Jack a notch lower, at No. 21.
That demotion was the
result of the addition of Behindatthebar to the roster of likely entrants.
He has graded earnings of $201,500, which lands him 19th on the list, shoving
Big Truck ($194,500) back to 20th and Bob Black Jack to 21st.
So unless one of the
20 now in front of the Cal-bred opts out--or is taken out by injury or,
better yet, an untimely cough--our state will be represented only by Gayego
(No. 5, with graded earnings of $640,000). He's a Kentucky-bred, but he's
been racing in Southern California, is owned by Southern Californians,
is trained by a Southern Californian, and was selected for purchase in
a Keeneland yearling sale by Southern California bloodstock consultant
Suzanne
Cardiff.
That's not as good as
his being a Cal-bred, but it may have to do. A surrogate, sort of, as they
say in political circles these days.
Speaking of yearling
sales,
TDN
printed a list of auction sale prices of those Derby
contenders, and Gayego and Bob Black Jack were two of the bottom three.
Gayego was bought for $24,000 at the Keeneland September yearling sale
and Bob Black Jack for $4,500 in last year's Barretts January mixed sale.
Gayego has earned
$723,420 and Bob Black Jack
$442,925.
Both of them were prime
bargains, especially considering that 12 of the other contenders cost $100,000
or more, all the way up to $375,000. (And where are all those $1,000,000-plus
sale-toppers?)
APRIL 18, 2008
One of the features of
our now-discontinued newsletter was a list of pinhook prices for California
sales, showing what horses cost in earlier sales, who bought them, and
where they were bought.
We continued that with
this year's Barretts March sale, posting the results of our research as
a Special Report on this website. But it was a lot of work and I decided
not to do it any more.
I've had calls from
former newsletter subscribers asking about such a list for the Barretts
May sale, and I've had to disappoint them.
That prompted me to
see if I could find some way for them to get that information, and I succeeded.
Thoroughbred
Times publishes Buyer's Guides for any number of sales, including this
one, and it includes pinhook prices in addition to lots of other information.
If you want one and
are willing to pay $75 for it, you can call Wendy Young at the Times
and place your order. Her telephone number is (859) 260-9800, extension
199. You can pay by credit card, of course; the price includes two-day
delivery.
APRIL 15, 2008
You don't often open
a magazine and have your first reaction be: Oh, no! That is wrong!
In this case, I didn't
even have to open the magazine. When I unwrapped my April California
Thoroughbred, it was back side up and on the back cover was an ad for
In Excess (Ire), beyond question one of California's premier sires.
In a prominent position
was this line: "More than $66,000 Average Earnings Per Start."
Did you get the instant
"Oh, no!" reaction, too?
On the inside of
the same issue, on the "Leading Lifetime Sires in California" page, In
Excess's record shows 499 starters with earnings of $32,997,067. Divide
that earnings total by 499 and you get--of course--a bit more than $66,000.
But that's earnings per starter. Not quite the same as earnings
per start.
According to The
Blood-Horse's online Stallion Directory, In Excess's runners have had
5,627 starts. With earnings of $66,000 per start, 5,627 starts would have
produced earnings of more than $371,380,000.
In Excess is an excellent
sire, but not that
excellent..
APRIL 13, 2008
So Bob Black Jack is
going to the Kentucky Derby. Or at least he's going to try to.
His connections have
announced that they're going to try for the Big One, figuring that the
son of Stormy Jack can get the mile and a quarter distance of the Derby,
since he finished a good second in the mile and an eighth Santa Anita Derby
and wasn't reeling at the end.
In order to start in
the Derby, he'll have to have enough earnings in graded stakes races to
put him in the top 20 of horses seeking entry. That's the largest field
they can handle for the big race.
Bob Black Jack, who
has graded earnings of $180,000, was tied for 19th on the last published
list. It's likely that somebody will earn enough to move ahead of him between
now and May 3, but it's unlikely that all those horses who are ahead of
him will want to run, so he'll probably qualify.
Being a firm believer
that most news in the horse business is bad, I'm apprehensive. I hate to
see a promising young horse get chewed up in the Triple Crown grinding
machine, but lots of horses who looked like they shouldn't try have wound
up winning.
We'll see, and if he
does run, I'll be pulling for him--unless Gayego is in the field, too.
I've been following
the accomplishments of Bob Black Jack because he's the only California-bred
in the Derby chase, but I do have another interest, Gayego, who won the
Arkansas Derby yesterday and is almost certain to go in the Derby. (In
case you don't know, that's pronounced "Guy-eggo.")
He was bought out of
a Keeneland yearling sale on the recommendation of my friend and client,Suzanne
Cardiff. If both he and Bob Black Jack run, I'll have a sort of rooting
entry, with two chances to feel good instead of one.
Or two chances to feel
bad, if you want to look at it that way.
APRIL 11, 2008
You may recall that in
a March 21 Notebook entry I observed that a survey
comparing injury rates on synthetic tracks with those on dirt tracks had
been released before its time. It was reported by the Daily Racing Form.
The
survey, conducted and announced by Florida veterinarian Mary Scollay, was
flawed in a number of ways and should not have been made public until it
was corrected and made valid.
Since it was clear to
me that the study was just not sound and was certainly misleading, I wondered
how it would be handled by the major Thoroughbred weekly publications.
They would have had more time to think about it than the daily Form
had. If they were truly responsible, I thought, they would either not publish
it at all or publish it with a lot of caveats. I'm pleased to say that
I chose not to put a link to the original Daily Racing Form story
on our Western Newsbeat page.
Well, the weeklies published
it.
Thoroughbred Times
printed it straight, making it the lead cover story with the headline,
"Fatality Rates for Synthetic, Dirt Tracks Nearly Equal." That's what her
report said, that the fatality rates were about the same.
The Blood-Horse was
somewhat more cautious, printing the story in a box at the bottom of its
first news page with the headline, "Vet Urges Caution Over Fatality Numbers,"
but I couldn't find anything in the story that supported that heading.
It printed the results of the study with quotes from Dr. Scollay that didn't
suggest that her report was invalid.
Maybe each publication
expected the other to use the story and didn't want to be scooped. Or maybe
they knew they were publishing a shaky story but figured they could publish
a later story correcting the misinformation and thus have two stories instead
of none--the original and then the correction instead of not using the
flawed story. A time-honored newspaper tradition. Dishonest, but traditional.
If the results of that
survey could be believed, it was big news--tracks are spending millions
to install surfaces that are no safer than the old ones.
And now we have the
correction, in a news release from The Jockey Club distributed yesterday.
It opens with this paragraph
The
on-track injury reports and total starts utilized in providing the catastrophic
injury rates presented by Dr. Mary Scollay at the March 17th Welfare and
Safety of the Racehorse Summit have been revised after being thoroughly
reviewed.
And two paragraphs later,
quoting Dr. Scollay:
“However,
I would like to report that after a thorough review, the fatality rates
I reported at the summit last month should have been 1.47 fatalities per
1,000 starts for synthetic surfaces and 2.03 fatalities per 1,000 starts
for dirt tracks."
Uh
huh.
APRIL 10, 2008
Everybody knows that
riding racehorses can get you killed, and sometimes does. But how about
this,
in the New York Times?
APRIL 9, 2008
Just to keep us updated
on the possible participation in the Kentucky Derby of the last California-bred
still standing, here's the situation with Bob Black Jack.
His second-place finish
and $150,000 purse in the Grade 1 Santa Anita Derby at a mile and an eighth
increased his graded-stakes earnings to $180,000 just enough to qualify
him for a place in the starting gate on May 3 at Churchill Downs.
His connections haven't
decided yet whether they want to send the son of Stormy Jack to the big
dance, but they may not have a choice. If more than 20 horses want to run,
eligibility will be determined by earnings in graded stakes races.
At this moment, Stormy
Jack's $180,000 are good for a two-way tie for 19th in those earnings,
so if nobody moves ahead of him in the three and a half weeks remaining,
he can get in if he wants to. But behind him are 13 horses with graded
earnings of $100,000 or more and four with earnings of $150,000 or more,
so he's a long way from being sure of qualifying. Any of those others could
move ahead of Bob Black Jack with just one good performance.
My guess is that they'll
decide not to chew up a good young horse by sending him east to be a longshot
in the Derby, so the earnings count question is likely to be moot.
APRIL 4, 2008
I'm sorry to note that The Blood-Horse
has joined the other major American racing/breeding publication, Thoroughbred
Times, is lending its services--and presitige--to further the nicks
myth.
It's offering readers the chance to get a
free mating rating to any of a long list of stallions--none in the West,
I'm happy to note--whose owners have paid a fee to have their stallions
included.
TrueNicks, its website
explains, bases its calculations on a more sophisticated process than other
nick-sellers do. I won't try to explain it, but no matter how complex a
theory is used, it can't overcome all the problems explained in mind-numbing
but necessary detail in my Nicking: An Analysis
study.
I found interesting these comments of TrueNicks
co-founder Alan Porter the other day on The Blood-Horse website:
Yesterday brought the news that
champion 3-year-old filly Rags to Riches was to be retired and bred to
Giant’s Causeway.
The match of the history-making
Belmont Stakes (gr. I) heroine with Storm Cat’s leading son is one that
should create a tough runner, and a horse that will have no problems with
classic distances.
Of course, we couldn't resist
running it through the TrueNicks program. This came up with the mating
as a C based on the Storm Cat / A. P. Indy cross. That cross has produced
only three stakes winners, albeit a couple of notable names, headed by
the Haskell (gr. I) winner and Kentucky Derby (gr. I) runner-up Bluegrass
Cat, and graded stakes winner Untouched Talent. Storm Cat himself sired
Bluegrass Cat and Untouched Talent from seven starters out of A.P. Indy
mares, but so far there are 42 starters by sons of Storm Cat out of A.P.
Indy mares, and only one stakes winner.
There are, however, some other
factors – beyond the outstanding class of the sire and dam, a very important
point – that might help this mating. From a pedigree pattern standpoint,
we can note that both Giant’s Causeway and Better Than Honour, the dam
of Rags to Riches, are Northern Dancer / Blushing Groom crosses. We can
also note that Giant’s Causeway is sire of the exciting sophomore stakes
winner Giant Moon, who is out of a mare by Capote who, like A.P. Indy,
is a son of Seattle Slew.
There may be something useful in there, if
you have the time to work on it. Maybe it's in this sentence: "There are,
however, some other factors – beyond the outstanding class of the sire
and dam, a very important point – that might help this mating."
But, of course, you can't get beyond
the outstanding class of the sire and dam, unless you go beyond it to figure
that if you own Rags to Riches and can get to Giant's Causeway, you don't
need to ask anybody what to do. You just breed the best to the best, and
you don't need a computer for that.
Or, looking at it from the perspective
of scientific methodology, to know whether a Giant's Causeway/A. P. Indy
cross is better than some other, you have to have some "other" to compare
it with. You'd want to see what happened when Giant's Causeway and an A.
P. Indy mare of quality equal to that of Rags to Riches were mated. (Not
just once but enough times to produce a sample of adequate size.)
Then, if you could do that, you'd have to
figure out what to compare those results with.
Oh, well, I guess I just don't understand.
APRIL 1, 2008
They're off and running,
and our 2008 California Freshman Sire Contest is under way.
The 20 contestants seeking
the $600 winner's purse in our contest have heard the first call in the
race, and we have a leader.
I'm not going to identify
the players--the $25 entry fee might get them unwillingly known as high-stakes
gamblers--but at the end of each month I will report on how the field is
sorting itself out.
After the first month's
racing for 2-year-olds of 2008, Momentum is in the lead with $28,480 in
earnings, followed by Cat Dreams at $7,200 and Slew's Prince at $400. All
those earnings came from the one "baby race" run so far at Santa Anita.
Six contest entrants
picked Momentum (the winner of that first race) to wind up with the title,
but only one chose Momentum and Cat Dreams to finish 1-2.. Nobody put Slew's
Prince anywhere on any ballot. The leader's ticket picked Momentum, Cat
Dreams, and Redattore (Brz) to finish 1-2-3.
There's a long, long
way to go in this race, and at the end of each month we'll post a progress
report on the fight for the handsome winner's purse.
MARCH 31, 2008
Speaking of California-breds,
which I was yesterday, two of them ran in the Dubai World Cup Saturday,
and one of them did well.
Idiot Proof, a son of
Benchmark, took the lead in midstretch in the $2,000,000 Dubai Golden Shaheen
at about 1 1/8 miles but was overtaken by winner Benny the Bull, a Florida-bred,
and finished second, a length and three quarters back.
It was the second time
in three years that a Cal-bred had taken second in that Grade 1 race. Thor's
Echo, by Swiss Yodeler, did the same thing in 2006 on his way to winning
an Eclipse Award as champion sprinter.
Finishing second wasn't
nearly as good as a win for Idiot Proof, but he's lugging home a purse
of $400,000, enough to make him the latest Cal-bred millionaire with career
earnings of $1,263,204.
But what of the other
Cal-bred, Notional, a multiple graded stakes-winning son of In Excess (Ire)?
All bad news.
He finished last in
a field of 16 in the $5,000,000 Dubai Duty Free and, according to the Thoroughbred
Times story, came up "lame in his left foreleg."
In its report, the CTBA
website, which, like the organization that produces it, is interested
only in good news about Cal-breds, had nothing to say about Notional's
race and his misfortune, choosing to tell only about Idiot Proof's becoming
a millionaire. Not a word about poor Notional.
MARCH 30, 2008
Only two horses bred
in the West are still in the running for the Kentucky Derby, and only one
of those has much chance of making it into the starting gate on May 3 at
Churchill Downs.
Both of those are California-breds,
and only Georgie Boy is likely to run in the classic--unless something
bad happens to him before then.
The maximum number of
horses that can run in the race is 20, and if more than 20 want to enter,
eligibility will be based on earnings in graded stakes races. Right now,
Georgie Boy, a son of Tribal Rule, has won $390,000 in those races, good
for sixth place in that earnings competition going into this weekend's
action.
That's $266,583 more
than the 21st horse on the list. It's possible, I guess, for one of the
low-ranked horses to run the board and pile up enough earnings to move
ahead of Georgie Boy, but 14 horses would have to do that to push the Cal-bred
out of the top 20, and that isn't going to happen, even if Georgie Boy
doesn't earn another penny.
The other Cal-bred still
eyeing the Derby is Stormy Jack's son Bob Black Jack. He has only $30,000
in graded earnings, good enough for 37th place, but he's only $99,000 back
of the 20th horse, so a couple of wins in graded races might get him into
the field.
It will be a challenge
for him, but he could do it, though not by winning Cal-bred or other ungraded
stakes in which he's earned the bulk of his bankroll of $292,925.
It will be something
to watch, though. He's surprised us before.
But for now, Georgie
Boy is most likely to carry the banner of the West in the Derby.
MARCH 29, 2008
A
couple of other points about choosing a stallion: the physical compatibility
of stallion and mare and that curious theory called dosage.
For some observations
on those subjects (not necessarily mine), click here
and here.
MARCH 28, 2008
Here's some news: The CTBA has decided to use
blacktype rather than stakes rules for the catalog of its 2008 Northern
California yearling sale, which will be held this year at Santa Rosa.
(If you aren't familiar with the difference
between blacktype and stakes rules, click here
and scroll down to the August 6 entry. It's explained there.)
The change returns the CTBA to the mainstream
of California sale cataloging, where it belongs. No longer will buyers
have to fear that the black type shown on a catalog page won't be there
if they enter their purchase in a later Barretts sale. More important,
they won't be misled by black type that designates a race with a purse
of $3,000 at some place like Wyoming Downs as a stakes race--by definition
an event of quality.
According to CTBA general manager Doug Burge,
the change was made when a survey of "the bulk of" consignors to the sale
showed that they wanted blacktype rules. He pointed out that stakes rules
were chosen when the sale was resumed in 2004 because a survey at that
time showed it was what consignors wanted.
I've always suspected that consignors who
picked stakes rules back then didn't fully understand the consequences
of their choice. There's been enough discussion of the subject since then
for consignors to make a more informed decision, and they made it.
MARCH 27, 2008
In his most recent letter to Voices
From Cyberspace, Larry Stevens makes this observation: "I
could cite a few bloodlines that "nicked" with real success in the QH breed.
In the TB, of late it has been Storm Cat on Mr. Prospector mares."
I certainly can't quarrel
with the idea that breeding a Mr. Prospector mare to Storm Cat gives a
breeder an excellent chance of achieving "real success." The question,
though, is whether this is a "nick."
That brings us right
squarely to a bigger question: What the heck is a nick, anyway?
It has to be more than
just the result of breeding a superior sire to a daughter of a superior
sire. I guess to be a nick, there has to be a better result than that achieved
by breeding a daughter of a different superior sire to a different superior
sire.
Immediately, you can
see the swamp we're wading into. To test a possible nick, we have to determine
whether it produces better runners than a combination sire and dam of identical
quality but of different bloodlines. That's what nicks are, crosses that
do that.
Already you can see
that we aren't going to be able to identify that sire and dam of identical
quality. How can we do that? If we're going to make a valid comparison,
the horses have to have not only the same bloodlines but the same race
records, produce records, conformation, and goodness knows what else and
the foals that make the race records we are going to compare have to have
identical raising, identical training, and everything else.
Just impossible.
Decades ago, the prized
cross was *Nasrullah bred to *Princequillo mares. I don't recall that that
was called a nick, but it probably was. But what it really was was a case
of a high-quality sire bred to high-quality mares.
Both of those sires
stood at Claiborne Farm, which had mares probably as good as any in the
world. And the master of Claiborne Farm, Bull Hancock, was the guy who
said that the key was to breed the best to the best and hope for the best.
He did that, and I doubt that he cared whether anybody said his success
came from a magic nick.
Since there's just no
way to test the Storm Cat/Mr. Prospector "nick," I think we just have a
case of the best being bred to the best. An excellent idea--if you can
afford it.
The great allure of
the whole nicking idea is that it offers the promise of getting a
superior runner without breeding the best to the best or the good to the
good, but the mediocre to the mediocre. Forget about the quality of the
sire and the dam and her sire; just get the nick and wonderful things will
follow.
Success on the cheap.You
can see why people want to believe.
MARCH 24, 2008
I don't do a lot of sighing, but I sighed deeply,
with sadness, when I saw the announcement recently that Thoroughbred
Times is offering a free service providing nick ratings for mares bred
to the advertised stallions.
The professional providers of mating advice
based on nicking analysis continue to thrive. After all, they have a right
to sell their services if people want to pay for them. It's the American
Way.
Nicks offer a shortcut to breeding success.
A way to breed a good horse on the cheap, or just a way to get an advantage.
Nicks certainly may exist, but there is just no way to know what they are.
That doesn't stop people from believing and embracing those nicking analyses,
all gussied-up to look scientific.
But before you make a mating decision based
on such a nicking recommendation, I urge you to read my own nicking analysis.
You'll find it by clicking here.
Entitled "Nicking: An Analysis," it originally
was published in three installments in c |