O'Malley introduces Preakness bill in Assembly

[trumad]

Gov. Martin O'Malley's proposal to give the state the power to take the Preakness Stakes by eminent domain was introduced Wednesday morning in the General Assembly, where it is expected to pass before the 2009 session ends on Monday.

The emergency bill would authorize the state to acquire by eminent domain the Preakness and Maryland's horse-racing tracks from its bankrupt owner, Magna Entertainment Corp., though O'Malley said "our hope is that we might not have to resort to these powers."

Magna, the Canadian owner of Pimlico Race Course and Laurel Park, filed for bankruptcy in early March and wants to sell its Maryland assets. The bankruptcy has sparked widespread concern in Annapolis that the Preakness, which runs at Pimlico, could be sold and transferred out of state.

Austin Schlick, the chief of litigation in the attorney general's office, said yesterday that the state has been approached by attorneys for Magna about reaching a "friendly" agreement in which the state's interests in retaining the Preakness might be respected.
http://www.baltimoresun.com/news/local/politics/bal-preakness0408,0,5266142.story

[TZ]

1. Good. I don't trust those Magna douches one little bit.

They seem like money grubbing cowards. I've heard rumblings that they've wanted to move the Preakness to Texas.

[trumad]

2. I'm not usually a big eminent domain fan---

But in this case---absolutely.

[Condem]

3. Been to seven of 'em.

Last one in 1990. Had a ball every time. You'd see it ALL in the infield. 133 years now? Not much tradition, there. Time to move it.

[Justpat]

4. Here is a link to a good explanation of what Stronach is doing.

http://businessofracing.blogspot.com

It seems he declared bankruptcy, then tried to have his own parent company pick up the pieces so basically he is trying to screw everyone
out of whatever he owes them and end up with his own tracks at a reduced price.


Maryland is not going to let the Preakness go anywhere.

[two gun sid]

5. The Preakness isn't going anywhere anytime soon...

and I'm glad for that.