New Virginia Stallion Station

[foxtale]

I guess I STILL do not know how to do that QUOTE thingy!!!

[Shammy Davis]

Just curious to see if this thread had any legs.

I was browsing THE HOOK, a Charlotteville, VA weekly, when I came upon the ghosts of Halsey Minor and Lee Danielson and their Landmark Hotel debacle.

Halsey isn't looking so rich anymore. I think we can give up hope that he'll invest in any VA stallion station. Debbie Easter, his bloodstock advisor has probably moved on. I can't recall but I think someone told me she went to Ken Luke and then left.

Once Minor's fortune was estimated at $355 million, he is now fighting off bankruptcy and the foreclosure of his Fox Ridge Farm.

Here is an interesting quote from him. "I am tireless in pursuit of my dreams, I may actually own Merrill Lynch when this one is done." I would have guess that would have been his attitude prior to being on the verge of bankruptcy and foreclosure. He must be a pathological optimist.

Apparently there is historical evidence that Merrill Lynch froze Halsey's accounts right before looking for a government bailout. Talking about the pot calling the ketle black.

So here we are a year after the last post to this thread and VA is no closer to a stallion station.

[da hossman]

Hi Shammy:

Halsey is controversial without question - he still has a few horses. Your progression on Debbie Easter is actually reversed; she worked for Ken Luke/Eldon before working for Halsey, for whom she still occasionally works.

By the way, have you noticed that Eldon is no longer as successful as they used to be?

[Shammy Davis]

da hossman posted:

. . . Your progression on Debbie Easter is actually reversed; she worked for Ken Luke/Eldon before working for Halsey, for whom she still occasionally works.

By the way, have you noticed that Eldon is no longer as successful as they used to be?

I have noticed that Eldon/Ken Luke had slipped below the radar. I must tell you that I'm not surprised and I don't know why. I'm guessing it is because I have met a few of the personalities involved w/Eldon.

In the 2 year old Keenland sale coming up, VA has only one entry. It is a very nice catalog of pedigrees. I noticed AWAY, dam of EIGHT BELLES, is represented w/a colt. Halsey, with all his financial woes, isn't going to help VA anytime soon.

http://www.pedigreequery.com/away2

Snow and weather exhaustion has curtailed my normal browsing of the NSA site, but I don't believe I've seen Ken Luke/Eldon in sometime. Is he dropping out or is horse heavy and cash short? As I recall Doug Fout was/is his trainer. When Ken Luke originally got involved I thought whoever was buying for him was doing a great job, but lately, Eldon has been conspicously absent.

[Shammy Davis]

Halsey Minor is back in the news. Any thoughts of this guy being involved in VA Thoroughbreds may be vanishing.

As far as his investment in the Landmark Hotel in Charlottesville, I guess Halsey is going into arbritration w/his former partner on Monday, April 19th. But it gets better.

It is reported that CA filed a lien against Halsey and his wife, Shannon, to the tune of $13.1 million in back personal income taxes.

Merrill-Lynch, if the government bailout wasn't enough for them, got a judgment against him for $21 million and then the judge tacked on $1.3 million to pay M-L lawyers. Southeby's Auction House got a judgement in NY against him to the tune of $7 million.

Halsey's New Year is looking fairly expensive and if he has any cash to become involved in VA Thoroughbreds, it will be a miracle. As reported, it is apparent that his midas touch is getting quite a bit of tarnish.

Where is all this money coming from?

[Joltman]

Hey SD

That's the way it works with ALL these guys. There is in life and business a Pecking Order and if you're at the top of the heap, you can do whatever you want and you will, eventually, come out smelling like a rose. They get a Pass, where any other poor slob would be wallowing at the gallows or in the stocks at least if they tried to get away with a hundredth of what the hubris of this type drives them to do.

These are people who have found a way to tie money, political power, personal influence and charisma into a believability that like the phoenix will rise again over and over again. Others like being around them and part of their circle of influence. Some ply their trade in business, many in politics, a couple in religion. Anywhere that power, persona and wealth can be parlayed into a 'power lifestyle'. Typically they overshoot, but have enough legal/political clout for a soft landing. Many times, their screw ups are just a platform to new promotions. I give you Tim Geitner.

A couple of others come to mind - Bill Clinton, Nelson Bunker Hunt (he did time tho), Zayat. Even Sheikh Mohammed was on the ropes scarcely a couple months ago. But Trust is what they elicit, and get, and keep the ball rolling. For some eventually it does all tumble down but these guys are too good at what they do to stay down for long.

Halsey will probably crash and burn. Lay low for a couple years, and leverage a comeback, based on the capital he has built over the years that has nothing to do with money.

jm


jm

[Shammy Davis]

JM: Very nicely put.

[Joltman]

Halsey wins one, loses one. Net gain I think.

http://www.nypost.com/p/news/local/net_ ... ORgmzruVnO

Enough to buy a Stonerside stallion from Fifth Third for the Va Stallion Station.

jm

[da hossman]

1 step up, 1 step back...

I do not understand why Christie's ever let Halsey take possession of the paintings or let him sell them with another auction house. Big mistake on Christie's part as they lost whatever control they may have had.

In the event of unpaid weanling or yearling purchases Keeneland & Fasig retain the papers and require those horses to be sold at their respective yearling or 2 year old venues, in that way controlling any potential re-sale. Why would this not be standard practice amongst all auction houses regardless of commodity?

I just hope the "little people" involved do not get stiffed.

[Shammy Davis]

DH posted:

I just hope the "little people" involved do not get stiffed.

We can only hope.

[Shammy Davis]

Here's a 2008 link, that must have appeared as I was beginning to lose my memory.

http://www.findingdulcinea.com/news/spo ... acing.html

Minor is not involved w/Hialeah, is he?

[Shammy Davis]

I read today that Halsey won his court case w/MS to the tune of $8 million and then sold the art work for $21 million. There was comment in the short article, that maybe CA would get his unpaid taxes now.

[Joltman]

The latest in the drama. I was beginning to get worried as it has been a couple of months since anything was in the news.

http://wchv.com/The-Latest-from-the-WCH ... om/4192892

Now that they are officially bankrupt they can finish the hotel, then MAYBE start the Stallion station.

It must be weird, but maybe fun to have a life like that - where get what you want if you just hang in there long enough and throw enough money at lawyers.

jm

[Shammy Davis]

I've always thought that lawyers put the pot of gold at the end of the rainbow.

[Joltman]

If the lawyers put the pot of gold at the end of the rainbow, they would charge people to get there, who would go there only to find that it was empty.

jm