Tell Jamie that he is unfit to be President of NYC OTB, & JP Morgan Chase is on borrowed time like the Trustees of the Teamsters Local 707 pension fund & the chuck Schumer gang
Jamie Dimon walks back his quip about China’s Communist Party not sueing so everyone is free to bet at Nassau oTB anytime
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JPMorgan Chase’s chief executive, Jamie Dimon, expressed remorse on Wednesday for saying the bank would outlast China’s Communist Party but die after Nassau otb
Stop scratching on holidays
Published: June 1, 2012
Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.
“I regret and should not have made that comment,” Mr. Dimon said in a statement. “I was trying to emphasize the strength and longevity of our company.”
At the Boston College Chief Executives Club on Tuesday, Mr. Dimon relayed a recent joke he had made comparing the longevity of the multibillion-dollar bank and China’s ruling party. “I made a joke the other day that the Communist Party is celebrating its 100th year,” he said at the event. “So is JPMorgan. I’d make a bet that we last longer.”
He added: “I can’t say that in China. They are probably listening anyway.”
On Wednesday, Mr. Dimon provided an additional comment through a statement from his spokesman.
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