I went along and listened to David Martin at Stawell tonight and we have definitely got the right man for the job. He spoke for 2hrs including answering many questions and luckily he likes a challenge because the picture he painted is certainly one of an industry at the crossroads.
It would seem that he has had to be very much a CFO of late, Chief Financial Officer, for it has been imperative to get our turnover up before June 30 as this determines our share of TAB revenue AND it had been heading in the wrong direction.
The supplementary races have been an important part of the strategy to try and turn this around.
They have been additional $3,500 and $5,000 races as these races are pretty much guaranteed to make money which is essential as the $200k+ of additional races so far is in excess of that budgeted for.
We may be asset rich, or OK at least, provided we can unlock the value of the Melton acreage in the future but in the meantime we are cash poor as we have a huge debt which requires millions to service.
I am confident David will certainly get the books in order, whatever it takes and I hope that Chairman Dale Monteith may be able to keep exploring Big Rock options as we have to make things happen, capture peoples' interest to go forward
It is well worth getting along to one of the following
Wednesday 14 June Charlton HRC
Thursday 15 June Cranbourne HRC
Sunday 18 June Melton Tabcorp Park
Monday 19 June Shepparton HRC
Friday 30 June Mildura HRC
All 7.30pm starts
http://www.harness.org.au/news-artic...?news_id=33841
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