Family.
ARGUMENT
The history of NYC OTB, a public benefit corporation, should have resulted in indictments, MORE PUBLIC SCORN AND RIDICULE, AND THE ESTABLISHMENT OF A GAMBLING PARTY for the public benefit.
MARK PETERS ESQ IS ONE MORE LAWYER WHO HAS DONE NOTHING TO ANSWER THE HOLY BURNING QUESTION OF THE HISTORY OF NEW YORK CITY AND NEW YORK STATE, WHEN THE HELL IS THE "REAL" EASTER SUNDAY AND PALM SUNDAY AS THE WORDS ARE USED IN NY PML SEC 109 AND ITS PRECURSORS.
HOW THE HELL CAN THE STATE OF NEW YORK CLOSE OTBS ON ROMAN CATHOLIC PALM SUNDAY AND ROMAN CATHOLIC EASTER SUNDAY IN PREFERENCE TO GREEK ORTHODOX EASTER SUNDAY AND PALM SUNDAY? SEE EG NY CONST ART 1, SEC 3.
SINCE LAWYERS ARE NOTHING BUT f....g high priced errand boys it is clear that the failure of New York City OTB to challenge its fine etc see below is the fault/decision of.... who... should have been..... The problem of the management of public benefit corporations, continues unchecked to this day, eg Suffolk OTB files for Chapter 9 bankruptcy to obtain slot machines. Better to give drugs and alcohol to those in need.
An honest days work for an honest days pay? A concept that will get you .......
Among the other things that killed NYC OTB was a lack of enough is enough by those who stole the place blind, ran it into the ground, and deprived the knaves, serfs, slaves, infidels, bettors of NYC a competently publicly run gambling institution.
Mark Peters should be ashamed that such crimes have paid those at the top handsomely.
THREE
recent stories got me thinking about a concept that is central to
money, wealth and ultimately contentment but that is overlooked this
time of year: knowing how much is enough.
First,
Mathew Martoma, a former portfolio manager at SAC Capital Advisors who
is accused of insider trading, used a computer program to change some grades at Harvard Law School from B’s to A’s.
Then Bank of America sent out a memo telling
junior investment bankers to take at least four weekend days off a
month. Last year, Goldman Sachs proposed that junior staff members take
off the entire weekend, while this week Credit Suisse told the same
group to take Saturdays off, unless they were working on an imminent
deal.
Lastly,
there was the story about the efforts of Dominic Barton, the managing
director of McKinsey & Company, the consulting firm, to change the firm’s culture.
He was doing so to make sure the company was not linked to more
scandals like the one involving a former executive, Rajat K. Gupta. Mr.
Gupta was said to be worth $100 million when, according to authorities,
he risked his reputation and freedom to supply insider information to
his billionaire friend, Raj Rajaratnam, who ran the Galleon Group, a
hedge fund, and had talked of investing in an idea Mr. Gupta had.
While
these three events may seem different at first glance, I think there is
an underlying link around the notion of what is enough. (Having this
discussion at all, of course, presumes someone is not just getting by.)
In the cases of Mr. Martoma and Mr. Gupta, it was that desire for more,
be it prestige or future wealth. For the senior executives at Bank of
America, it seems to have been the realization that the most coveted
jobs for college graduates were less about Wall Street and more about
Silicon Valley, where working weekends comes with special perquisites
that technology jobs have become known for.
Those
stories, coupled with the start of a new year — when some people may
have debt from the holidays and others have just received big bonuses —
seemed to make this a good moment to consider why some people have a
sense of enough, while others never do.
Mr. Martoma said he had changed his grades to impress his parents.
“That’s
a bit immature to blame it on them,” said Ellen Miley Perry, managing
partner at WealthBridge Partners and author of “A Wealth of
Possibilities: Navigating, Family, Money and Legacy.” “But I understand
where it is coming from.”
Ms.
Perry, who advises families, said one of the crucial drivers for people
lacking a sense of enough was feeling pressure from families to be
better, smarter, richer. Even when it is not stated explicitly, she
said, children of high-achieving parents feel it.
“I’m
telling my clients to shrink the shadow,” she said. “Talk to them about
your failures and struggles. All they see is the neon lights of their
parents’ success.”
And
when it comes to what the children are doing, parents would do better
to instill a sense of enough in their children by taking the
celebrations of success down a notch. “Get rid of the headline moments
and embrace the small ones,” she said.
What
Mr. Martoma did with his grades speaks to an incessant striving that
starts in the affluent enclaves of America. This is the time of year
when high school seniors who applied for early decision to their top
choice of college but were deferred are scrambling to polish essays for
all the other schools they hoped not to have to apply to.
John
Bogle, the founder of Vanguard Mutual Funds and author of “Enough: True
Measures of Money, Business and Life,” said one of his teenage
granddaughters spent last summer with him and his wife, working a summer
job. At the end, he asked her how she liked it.
“She
said, ‘I liked it, but I didn’t learn anything,’ ” said Mr. Bogle, who
created the first widely available index mutual fund. “I said, You’ve
learned all you needed to know. You learned to get to work on time. You
learned to do an honest day’s work for an honest day’s pay. You learned
that sometimes bosses are unreasonable and sometimes the customer is
wrong but you have to pretend they’re right.”
Yet
Mr. Bogle, who worked in high school and through Princeton University,
said his own sense of enough came from not wanting very many things in
life, even after creating the second-largest mutual fund company in the
world, next to Fidelity Investments.
“I am not saying in any way that I’ve taken vows of poverty,” he said. “I just don’t need any more.”
What
Bank of America has proposed for young bankers tries to tackle the
sense of enough from a different perspective: making banking desirable
to its candidates who are turning to other options, like working for a
technology start-up.
In
the memo I saw, which was confirmed by a bank spokesman, the bank’s
head of global corporate and investment banking, Christian Meissner,
wrote: “While we do not encourage weekend work, effective immediately,
we recommend that analysts and associates take a minimum of four weekend
days off per month.”
This
is something banks have never had to do with their junior bankers, who
were expected to work all the time and did. But the brightest ones have
plenty of other options that allow for time outside the office.
Eric Dammann, a Manhattan psychologist, said the memo meant well but missed the mark.
“What’s
so paradoxical is it’s trying to give them perspective, but it’s giving
them perspective from people who have no perspective,” he said. “The
problem is not that they’re not taking Sunday off. The problem is that
you have to tell them to take Sunday off.”
Those
young bankers may be asking themselves questions about what is enough
that previous generations did not and still don’t, he said.
“When
you ask people what’s your number, they’ll throw one out, say $10
million,” he said. “When they get there, I can’t tell you how many
people say, ‘Well, maybe I need to work another couple of years to get
to $12 or $15 million.’ When you ask them what changed, they’re baffled.
They don’t know.”
This
leads to McKinsey, where cultural changes were precipitated by Mr.
Gupta and a lower-level consultant who shared nonpublic information. It
would be easy to say that Mr. Gupta’s lack of enough came from comparing
his wealth to that of Mr. Rajaratnam, who was considered a billionaire
before his insider trading conviction. That could be true. But Mr.
Gupta’s story also raises the broader question of how many people
continue their quest for more without thinking why they are doing it.
"There
are lots of things that drive people down this particular road,” said
Robert Skidelsky, the author with his son Edward of “How Much Is Enough?
The Love of Money, and the Case for the Good Life.” “But they’re not
quite sure why, except that if you spend a lot of time doing things that
you like instead of making lots of money, you’re not judged as
successful by society.”
And
while Mr. Skidelsky, who is best known as John M. Keynes’s biographer,
advocates more leisure, he said that persuading people that they have
enough when their neighbor has more is an age-old problem that is tough
to solve.
“A
lot of people want to be successful in what they do — it’s a perfectly
noble aspiration,” he said. “If you live in a society where success is
measured mainly in money, that means you want more money.”
Dr.
Dammann agreed that often people’s sense of not having enough comes
from a failure to think about how what they are doing compares with what
they want. “If you’re spending 98 percent of your waking time going to
the office and you say, ‘I want to be a better father,’ you can show how
that doesn’t match up,” he said.
This is a good time of the year to make sure that what you say you want matches up with what you actually want.
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Sports
OPEN ON 1ST PALM SUNDAY, OTB RAKES IN $2M
By Jerry Bossert / NEW YORK DAILY NEWS
Monday, April 14, 2003, 12:00 AM
New
York City Off-Track Betting made history yesterday, taking bets on Palm
Sunday.
Since 1973, when Sunday racing was made legal in New York State, race
tracks have been allowed to operate every Sunday except for Palm Sunday
and Easter Sunday.
While Aqueduct kept its doors shut, NYCOTB had its betting parlors
open despite a letter from the New York State Racing and Wagering Board
stating that it couldn't do so.
"We're not a race track," NYCOTB president Ray Casey said. "OTB's
business is a simulcasting business.
" Bettors responded by wagering an estimated $2 million yesterday on tracks from around the country, including Keeneland in Kentucky and Gulfstream Park in Florida. While in the past NYCOTB has respected the law and shut down on Palm Sunday, it took a chance this time because its business is down. "With the weather being the way it's been our handle has been off significantly," Casey said. "Our lawyers felt from their point of view that we could open (yesterday).
" The law says race tracks can't open. It doesn't mention OTBs. "I respect the Racing and Wagering Board and I have the utmost respect for chairman Michael Hoblock but I felt we're right on this one," Casey said. The NYSRWB didn't return phone calls yesterday but said on Saturday it would meet this week to discuss fines and penalties it can impose on NYCOTB. "This isn't personal," Casey said. "I just didn't agree with the board's interpretation.
" Casey also said NYCOTB may open on Easter Sunday.
" Bettors responded by wagering an estimated $2 million yesterday on tracks from around the country, including Keeneland in Kentucky and Gulfstream Park in Florida. While in the past NYCOTB has respected the law and shut down on Palm Sunday, it took a chance this time because its business is down. "With the weather being the way it's been our handle has been off significantly," Casey said. "Our lawyers felt from their point of view that we could open (yesterday).
" The law says race tracks can't open. It doesn't mention OTBs. "I respect the Racing and Wagering Board and I have the utmost respect for chairman Michael Hoblock but I felt we're right on this one," Casey said. The NYSRWB didn't return phone calls yesterday but said on Saturday it would meet this week to discuss fines and penalties it can impose on NYCOTB. "This isn't personal," Casey said. "I just didn't agree with the board's interpretation.
" Casey also said NYCOTB may open on Easter Sunday.
Advertising
Mayor Bill de Blasio
announced on Saturday that he had picked a respected former prosecutor
and civil rights lawyer to fill the top position at the city’s
Department of Investigation, an anticorruption agency that will soon
take on an expanded role in overseeing the New York Police Department.
Mr.
de Blasio said he based his nomination of Mark G. Peters, a longtime
friend who served as his campaign treasurer, on his reputation as a
forceful and independent investigator.
“Mark
Peters is a man with immense personal integrity and extensive
experience protecting the interests of New Yorkers,” Mr. de Blasio said
in a statement.
The
Department of Investigation, a law-enforcement agency with subpoena
power but a low profile, will most likely attract greater scrutiny —
from the de Blasio administration and police reform advocates — with the
addition this year of an inspector general for the Police Department, a
position created by the City Council last year over the veto of Mayor
Michael R. Bloomberg.
Filling that position would be among Mr. Peters’s first and most significant decisions as commissioner.
“Obviously this is a choice that I expect the mayor to be involved in,” Mr. Peters said in an interview on Saturday.
Mr.
Peters, 48, spent much of his career as a prosecutor in the New York
State attorney general’s office; he became the deputy chief of its civil
rights bureau and later the chief of its public integrity unit.
In the 1990s, Mr. Peters worked at Children’s Rights Inc., an offshoot of the American Civil Liberties Union, bringing lawsuits on behalf of children in foster care.
Mr. Peters said that his role as treasurer on Mr. de Blasio’s campaign would not compromise his independence.
“The facts are what they are,” he said, adding, “The mayor knows that, and I know that.”
His nomination must be approved by the City Council; a hearing is expected this month.|
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