Jeffrey Tucker, founding partner of hedge fund investment group Fairfield Greenwich Group, has abruptly stopped all new construction on his huge horse farm (Stonebridge Farm) in Schuylerville NY (just outside Saratoga NY). He also wants to sell his thoroughbreds after losing some $7.5 billion in the Bernard Madoff scandal, according to the Times Union.
How fitting that on the last day of 2008, this article about Tucker is run on the front page of the Times Union (Albany, NY) in an "above the fold" story.
It's been an interesting year, in and out of the racing game. We saw a big triple crown hope fail to live up to expectations, Curlin, Eight Belles, Zenyatta, more talk of synthetic surfaces, attendance and handle declines, rain and more rain at the Spa, and a new 2 day format of the Breeders Cup.
For all the latest news and more as 2009 approaches, grab the Thoroughbred Bloggers Alliance feed.
We now turn the page, hope springs eternal, for tomorrow our 2 year old crops turns 3, and the optimist in me begs to come out.
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10 comments:
Nit-picking I know, but it was the firm that lost the $7B. How much Tucker lost personally isn't clear, but it surely doesn't look good for him.
A fitting end to the year or a fitting end to Jeffrey Tucker's horseracing activities?
fran
If only the Jockey Club had invested all their money with that dirtbag. Then we'd have a clean slate.
Here's to the promising two year old.
Happy new year.
FYI- Tucker's farms are located in the Towns of Northumberland and Moreau...have no idea where Schuylerville came into the stories--sloppy news reporting research.
Guess the Beach Boys, Gladys Knight , Willie Nelson and Liza Minnelli shows that Tucker had at the farm are now pleasant memories.
Another set of losers are the retired thoroughbreds who will lose monies from the cancellation of Tuckers concerts...
Ljk: yes, it is the firm's money, not his.
Fran: Both
Winston: Here, Here
Anon-Yes, but the mailing address is 125 Sherman Lane, Schuylerville NY 12871
Which newly turned three-year-old(s) does the optimist feel most worthy of his hope?
Going into the prep races I like Pioneer of the Nile, Vineyard Haven, Old Fashioned and the filly Stardom Bound
By many accounts, Tucker takes good care of his horses and he has a number of pregnant mares about ready to foal, not to mention employees who will now be out of work What would lead you to characterize this financial disaster as a fitting end to his involvement in the business?
Anon: "Fitting End" was meant by me to find it fitting that in a year of financial downturn in our country the story I read on the front page of the Times Union on the last day of the year is about a financial disaster to a local horse owner. The horse racing industry is not immune to the current economic conditions and that was my intention.
No where in my post is there any mention about how the horse farm is operated or how the workers are treated.
thanks for reading
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