Tuesday, September 9, 2008

A Big "FU" to Former Partners

From the PWMNBN website:

Join Our new Partnership, OS Select. We are off to the Keeneland September yearling sales. Jion now this partnership will be closing soon.

(And I know "Join" is spelled wrong, I just cut and pasted. On a side note, in the detail of this group, the MP lets everyone know that he does what he can to "in courage" communication. Grammar aside, that's a load of crap.)

So to make sure that I have this straight:

- Former partners get an e-mail that says, and I'm paraphrasing, "how about you just take half of what we owe you and you go away?";

- The group claims two horses at Del Mar totalling about $65,000 and buy into a stakes quality horse for probably another $25,000 - $50,000;

- Now they are going to Keeneland in a couple of weeks to buy one or two yearlings (prior to collecting money, by the way, so there is backing there somewhere);

- And all the communication, by the way, comes by way of third parties as he can't be bothered to let me know what's going on. Not that I blame him, I guess. I AM getting very hard to deal with. But do the right thing and you don't have to worry about me. Seems pretty simple. If nothing else, keep me on the damn mailing list. Unless, of course, everyone ELSE is getting half the money they are owed and he's just keeping mine. I'd like to say that would surprise me, but... (Speaking of communication, my missive to the CHRB published here a few weeks ago has gone, as yet, unanswered.)

This, to me, is really just saying FU to all the people that were partners in the past that are getting screwed out of their money. He can apparently sweet talk himself into getting backing to buy horses, but doesn't have the strength of character to pay what he owes. You know, I'd have more respect if he would pay folks $10 a month until they are made whole. Apparently, never a consideration.

I apologize for all the complaining I do about this, but sadly, it is a dark side of Thoroughbred ownership and it's part of what I'm involved in. I promised to write about it all and this seemingly never ending saga is part of what I'm dealing with right now. I keep thinking that my dealings with Owner's Stable (THERE, I said it!!) are over, but he never ceases to amaze and perplex me.

Sadly, this is an indictment of not only Owner's Stable (the new OS, by the way - Thomas Thompson, OS founder and pioneer in partnerships was a wonderful human being and an inspiring leader who would do the right thing no matter the circumstances) but of California racing, the CHRB and the Stewards who, thus far, have refused to act to curtail their practices and activities that I am aware of. I'd like to think that there is activity going on in the background that I'm not privy to and that they have taken the packets of information I have sent them seriously. I'm not holding my breath, but I'm ever the optimist.


Amazingly enough, I did receive a response to my latest e-mail. It came an hour after this was published, but I'm sure that was just coincidence. Basically it said - "Call me instead of e-mailing me you sissy-boy. You just don't understand! Stop your e-mailing and call me!" Why in the world would I want to put myself in a position to be arguing? The situation is, and has been, very simple: do what is right. I don't want to hear "No, but..." Besides, the one and only time I called to talk to him he lied through his teeth, "No, Ted, we aren't claiming until the financials are settled." Uh-huh - I can't waste my time on the phone not knowing if what I'm hearing is truthful.

You know, all the buying could have been easy to deal with if he just said, "We have backing to buy horses and as we gather more management fees, we will pay off what we owe everyone". Instead to come out and pay only half and then grow like crazy? Seriously? Like I said before, paying over time was NEVER a thought? Just "F you, I need to move on."

Well, it looks like I'll get my half and my K-1 and move on. This will be the last you read about Owner's Stable here. This was a costly lesson learned, but everything happens for a reason and I can say I learned something from it.


horsefan said...

As someone who has been involved with OS for several years, through the good times and the bad, I can vouch for everything Ted is saying here as true.

Unfortunately, Scott is a very dishonest person, and frankly he is not very bright either, and that makes for a deadly combination when it comes to running a business.

Ted G said...

Thanks, horsefan. I appreciate you reading and I'm sorry that you had to go through this as well. I know I voted 'no', but I guess if we're going to get hosed anyway, better we should just get it over with and get out for good.