February 2009

There are 78 blog entries for February 2009.

equine-equity-act-tax-incentives-sought-for-racehorses_275Senator Mitch McConnell the representative from Kentucky, is currently seeking approval for the Equine Equity Act.  This proposal would provide tax incentives for racehorses.

The proposal is currently part of a much larger bill with The Farm Bill that was approved by the U.S. Senate last week.

This tax incentive for the Equine Equity Act would allow horse owners to depreciate their racehorses over a 3 year period, and also it would help them by reducing their capital gains from a 2 year period down to just 1 year.

As The Farm Bill has currently been proposed, President Bush has promised to veto either the House approved or Senate approved versions of the bill.

This tax incentive would certainly spur the ongoing vigorous effort that is being sought

3,776 Views.

fei-world-equestrian-games-in-lexington-kentucky_193The results of the initial offering of reservations for tickets to the 2010 FEI World Equestrian Games in Lexington Kentucky are now in - approximately 67,000 tickets have been reserved giving approximately $3.2 million on its initial round of ticket sales.  Quite decent given that the event is some 3 years away.

The 2010 FEI World Equestrian Games in Lexington Kentucky is expected to draw approximately 500,000 - 600,000 in ticket sales for the 16 day event.  It should be a real boom for the area, and provides a showcase for the Kentucky Horse Park where the event is being held.

The initial round of ticket reservations was held through the U.S. Equestrian Federation - and its members were allowed to reserve tickets during a 2 week window in November

2,920 Views.

kentucky-farm-bureau-goals-for-2008_100Kentucky Farm Bureau announced some new goals to be implemented for 2008, which included providing motivational means for new vets to enter into the large animal (horses, cows, etc) areas of practice.  Funds are also being solicited and earmarked for a new training center that is currently located in Hardinsburg Kentucky.  And they are also lobbying politicians to implement stronger legal recourses against persons that trespass on other people’s farms with ATVs (and subsequently damage the farms or livestock, etc.).

Many other proposals are being lobbyed on a national perspective.  But on a Kentucky Farms perspective, the items slated for placing effort behind include:

Improving the veterinarian diagnosis centers for identifying, quarantining, and

2,140 Views.

breeders-cup-throughbred-championship-expansion_100It was recently announced that the Breeders Cup Thoroughbred Championship will be seeing some expansion with 3 more new races bringing the total number of races to 14, with a total prize purse of approximately $25.5 million for the 2008 season.

Next year’s Breeders Cup will be held October 24-25, 2008 at the Santa Anita horse racetrack in California.

The Breeders Cup CEO, Greg Avioli, stated that the reason for the expansion was simply to give more horses the opportunity to participate in the event.

The 3 new races for the Breeders Cup are as follows:

Breeders Cup Turf Sprint - 3 year olds and older with the track running at 6.5 furlongs, and a $1 million purse

Breeders Cup Juvenile Fillies Turf - 2 year old fillies with the track running at 1

1,497 Views.

economists-predict-excellent-farms-agriculture-for-2008_243Agriculture economists at the University of Kentucky in Lexington, announced their predictions at the most recent annual Farm Bureau meeting that was held in Louisville Kentucky on Thursday.  Their prediction for 2008 is its going to be an excellent year for farms and agriculture.

Even with the dry conditions that most of Kentucky had to deal with this summer, there were many records that were set for the 2007 farm year which include:

Record Cash Receipts

Record high grain prices

Record net farm income

Additional markets that are interested in purchasing the agricultural and farms product made in Kentucky.

The only real concerns that may limit the growth for next years farms is if the weather is uncooperative, or other factors such as

1,908 Views.

quarter-horses-track-proposed-for-laurel-county-kentucky_251A public hearing will be on December 10, 2007 regarding a proposed Quarter Horse track in Laurel County located southeast of Lexington Kentucky along I-75.

The applicant is Sprint Racing Partners and includes the following:

John T.L. Jones, Jr.

R.D. Hubbard

Bruce Rimbo

Chris Sullivan

Paul Blanchard

Ed Allred 

They have plans for a 5/8 mile long track that is located near London Kentucky.  If approved by the Kentucky Horse Racing Authority, this will be the 9th Kentucky horse racetrack.

Estimates for costs range between $15 and $20 million dollars.

But, there is a catch.  The Kentucky Horse Racing Authority won’t be voting on the matter until after the new Governor Steve Beshear is sworn into office on December 11, 2007.

It is undecided

1,524 Views.

kentucky-horse-park-public-hearing-december-27-2007_194The Kentucky Horse Park in Lexington Kentucky will be host for a public hearing to be held by the Kentucky Horse Racing Authority on December 27, 2007 at 10:00 am.

The hearing is allowing the public to respond and provide input on to 3 amendments for the organization and industry.

The first 2 are proposed amendments:

1.  Currently, there is a non-existing commission set up to handle the backside improvement monies.  This proposed amendment would allow the Kentucky Horse Racing Authority to handle the appropriation of those monies.

2.  Snake venom would no longer be allowed to deaden the nerve endings in standardbred horses.

The 3rd amendment would be repealed which is as follows:

3.  References to a no longer functional breeders award funding.

1,334 Views.

smoking-ban-at-churchill-downs-in-louisville-ky_257The smoking ban went into effect today at Churchill Downs in Louisville KY.  Part of a comprehensive “no smoking” effort inside all public buildings, Churchill Downs had sought an exemption feeling that it would hurt their customers enjoyment of their facilities.

But, their appeal was denied earlier this month by Jefferson County Circuit Judge Denise Clayton as there really was no basis for them wanting the exemption - other than them just wanting it.

Churchill Downs elected to comply with the regulation after the end of the Fall meet (which was on Saturday November 24 2007).

It probably won’t affect the track as much as you may initially would expect as all enclosed public areas were already smoke free, with the exception of the Champions Lounge.

14,901 Views.

thoroughbred-race-horse-champion-curlin-may-be-sold_154Thoroughbred race horse champion and Horse of the Year Curlin may be sold to settle a lawsuit that stems from the diet drug combination Fen-Phen.

The primary owner of the horse is Stonestreet Stables, who’s owner is Jess Jackson (a noted winemaker and horse breeder).  Stonestreet Stables owns an 80% stake in the horse.

The remaining 20% owners of Curlin are attorneys Shirley Cunningham Junior and Bill Gallion who acted as representatives of 400 plaintiffs in the Fen-Phen lawsuit that claim they were harmed by using the products.  And now those 400 plaintiffs are claiming that their attorney representatives defrauded them out of as much as $64.4 million in the 2001 settlement.

And taking it a step further, a judge has ruled that those plaintiffs are

3,200 Views.

louisville-kentucky-boys-haven-equine-program_183The Louisville Kentucky newspaper, The Courier-Journal spotlighted an article today about the Boys Haven Equine Program that is a part of the Boys Haven non-profit home located on Goldsmith Lane in Louisville Kentucky.

The equine program teaches troubled children to care for a horse - and it teaches them a little about humanity as well.  They learn that just as the horse may need their help, that its ok to ask others for help if they need it as well.

The Boys Haven home was founded in 1948 by Father James Maloney and has a long standing tradition of helping troubled children and young adults to become productive and sensitive members of our community.

The equine program was started last year by Jay Wilkinson.  Wilkinson has had prior experience as a

7,810 Views.