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General Category => Ask the Experts => Topic started by: sighthound on May 04, 2012, 01:51:28 PM

Title: Hayward and Kehoe fired by NYRA
Post by: sighthound on May 04, 2012, 01:51:28 PM
There you go.

Times Union:

ALBANY — The New York Racing Association may be looking for new ways to spend $900,000 a year, having cut the top two officers of the nonprofit organization that runs Aqueduct, Saratoga and Belmont race tracks.

NYRA\'s board said on Friday that it terminated the employment of President and CEO Charles Hayward and Senior Vice President and General Counsel Patrick Kehoe, effective immediately.

C.Steven Duncker, the Chairman of NYRA\'s Board of Directors, said in a statement that the decision was based on a determination that these executives failed to perform their duties at a level required by the board. The action happened at the end of a week started by the release of state Racing and Wagering Board report that showed the two men should have known and may have known that NYRA was overcharging bettors on the amount of commissions taken on each exotic wager, a matter that is also under investigation by the Inspector General\'s Office.

Duncker added that there are ongoing governmental inquiries relating to the circumstances surrounding the takeout issue, that NYRA was cooperating with those inquiries, and that NYRA expects that those inquiries will thoroughly and fairly investigate the matter.

Read more: http://www.timesunion.com/local/article/NYRA-fires-two-top-officers-3535438.php#ixzz1twMgbfUC
Title: Re: Hayward and Kehoe fired by NYRA
Post by: dcbred1 on May 04, 2012, 02:00:57 PM
It\'s a start but they still have a much work to do.