If you logged on today, knew nothing of horse racing, Magna, Stronach, etc and you read this paragraph in the Heg piece, you'd have to be floored and wondering how on earth this company is still afloat:
Quote:
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Magna Entertainment, which owns 10 tracks, including Santa Anita Park and Gulfstream Park, has lost more than $500 million over the past five years and holds $500 million in debt. It recently hired a company specializing in bankruptcy reorganizations as an advisor.
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-$500,000,000 lost over five years
-$500,000,000 in debt
Words cannot describe how poorly run Magna is...numbers do the trick.