Highlights of the
CTBA Board of Directors
August 12, 2003

The meeting was called to order at 9:40 am. The President, Daniel Schiffer, conducted the meeting and announced that a quorum was present:

Sales Committee:

Doug Burge reported on the recently concluded Del Mar Sale. The average median and gross sales were all down over 20% from last years record breaking sale. Going into the sale we knew it would be difficult to match the success of the last two years, but expectations were high based on the early inspections, pedigrees of the individuals, advantages of owning a Cal-bred, and the recent tax advantages enhanced by Federal legislation

Reasons for the decline include; escalating costs of doing business in state, the overall static economy, the lack of perceived value of the yearlings offered and the lack of support from many of the California trainers. The production of the sale was the same as years past. This included the same facilities, selection criteria, and marketing. The Sales Committee will meet soon to re-evaluate all aspects of the sale to make needed adjustments for the future. We will also work closely with TOC, CTT, and the tracks to address the ongoing added costs of ownership which no doubt had a negative effect on the sale.

The use of the repository was discussed in view of the belief that it was not used to evaluate all of the horses prior to the sale. The user log disclosed that radiographs of certain yearlings were reviewed extensively, but that many were viewed sparingly or not at all. The Sales Committee will continue to evaluate the repository.

Treasurer’s Report:

James Murphy, CFO, presented the financial statements for June 2003. The financial results were in line with trends developed early in the year and disclosed no significant variances from budget.

Racing Committee/Race Days Committee

It was announced that the Great State Challenge races scheduled for later this year have been discontinued. A three year contract for the Sunshine Millions has been signed. Total purses will remain at $3.6million, with minor adjustments to the individual races. Four races will run at Santa Anita and four at Gulf Stream Park. Horseman’s information booklets have been printed and circulated.

Keith Card stated that the Cal-Cup race day details are on schedule and that the Nomination Book has been published and distributed. The purse amounts have not changed from last year. Early bird nominations close on August 18 and regular nominations on Oct. 20.

Magazine Committee:

Trudy McCaffery stated that the magazine continued to look good and that there were no new matters to consider at this time.

Legislation Committee:

John Harris, Chairman of the Committee, stated that the recall effort of the Governor is dominating matters in Sacramento.

Legislation that would enable Incentive Awards for certain out of state races, such as the Sunshine Millions has not yet passed however; there is no known opposition to passage.

CTBA’s advocate in the capitol, Bob Fox has been actively engaged in legislative efforts to reform Workers Compensation insurance.

TOC Liaison Committee:

The Committee is developing an agenda for matters to go over with the TOC and has asked for input from members of the Board. The liaison committee meeting will take place on Sept 17, at the CTBA.

Education Committee:

All of the speakers are lined up for the Harris Farm Seminar, “Foal Management-Straight Talk About Serious Issues”. Reservations are close to capacity.

The Northern California Stallion Tour is scheduled for Saturday, October 18.

California Thoroughbred Foundation:

Jeanne Canty announced that Jack Hoover, a director of the California Thoroughbred Foundation and an Ex-Officio member of the CTBA Board of Directors, had passed away. Jack served as a CTBA director from 1981-1992 and owned Circle H Ranch in Murrieta.

The Seabiscuit motion picture has generated a numbers of visitors to the library on the CTBA premises, where there is a Seabiscuit display in the lobby.

Jeanne Canty also announced that Ada Gates has agreed to be a Director of the Foundation.

Other Matters:

The welfare of thoroughbred horses that are not racing continues to be addressed. It was recognized that the owners of the horses are the actual responsible party for the horse, and not the CTBA or other members of the racing industry. CTBA is continuing its effort to obtain data on the actual disposition of thoroughbred horses. Leigh Ann Howard announced that starting this coming January, a survey will be conducted at Santa Anita for horses that pass through its premises. CTBA will survey its records and members to ascertain what happens to thoroughbreds, including those that do not make it into racing. It was noted that retirement farms have so far shown some reluctance to provide details of their populations. The purpose of the CTBA effort is to gather data and that the industry should expect that there would not be a meaningful announcement of the data gathering, until near the end of the year 2004.

The next meeting will be September 19 (Friday) and Dan Schiffer encouraged all Directors to attend the sessions of the Seminar that follows in order to interface with the members who are in attendance.

The meeting was adjourned at 11:50 am.

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