July, 2021 | Horse Racing Free Tips

A Focused Strategy Needed To Prevent Veterinarian Burnout

Many veterinarians feel pressured to be on call for their clients round the clock, especially if they're one of the only equine caretakers in the area. Vets are often called out for an after-hours “emergency” that turns out to be a non-life threatening situation that could have been resolved during normal business hours. That constant hustle is taking its toll on many veterinarians, so many are trying to provide guidance on how to reduce burnout.

EquiManagement suggests there are some ways to alleviate this near-constant pressure, including working for (or opening) a multi-doctor clinic or collaborating with other practices in the area to share the on-call burden. Young veterinarians are often eager to take on emergency cases and the sharing of the caseload offers older vets a unique opportunity to mentor younger colleagues.

Additionally, being forthcoming with clients about professional boundaries can assist vets in regaining a work-life balance. While discussing new “office hours” for an equine veterinarian may feel uncomfortable in an already-established practice, loyal clients often stay loyal – they just want to be kept in the loop. Offering customers alternatives should be a priority; this could be as simple as providing phone numbers for another veterinarian who is available for after-hours care. Adjusting the time in which a vet practices (which might include later openings and closings) is another option to remain available for clients, yet regain the opportunity for some down time.

The option to treat only equine emergencies is another possibility to avoid burnout. After-hours emergency care is often more financially lucrative than dealing only with cases seen during the day.

Seeking to educate owners on what a true emergency is can also go a long way to alleviating the possibility of burnout for veterinarians in general. An emergency situation is scary for many owners; reassuring clients that reaching out via text, email or phone call is always OK leaves them feeling less alone.

Trustee In Zayat Bankruptcy Cites Potential Assets in Egypt

The bankruptcy trustee entrusted with sorting through the assets and liabilities of Ahmed Zayat, the Eclipse Award-winning owner of 2015 Triple Crown champion American Pharoah, charged in court documents filed on Tuesday that Zayat and members of his immediate family are engaged in “an exercise in gamesmanship, obstruction and delay” to prevent the trustee from having access to financial documents.

Trustee Donald V. Biase made those accusations in a memorandum in opposition to a motion by Zayat family members to block subpoenas for records from a number of financial institutions, credit card companies and even wagering accounts with TVG. The motions to quash were filed by Justin Zayat, Joanne Zayat, Emma Zayat, Benjamin Zayat and JPZ Holdings LLC.

Zayat filed for Chapter 7 Bankruptcy last September after Zayat and Zayat Stables were sued by a lender, MGG Capital Group, for defaulting on a loan. The company won a $24.5 million summary judgment against Zayat in June 2020.

Even without many of the documents requested, Biase was able to trace a number of financial transactions he found questionable between Zayat Stables and Ahmed Zayat's wife, Joanne, son Justin and other family members.

“The trustee's investigation reveals that the debtor (Zayat) and his family members have engaged in a pattern of intermingling of assets and ongoing financial transactions among themselves, Zayat Stables, LLC, and the creditors of the debtor,” the memorandum from Biase states.

Biase also raises questions about whether Zayat may have assets in his native Egypt. He cited statements from Zayat that he had sold Egypt-based Misr Glass company in 2010 or 2011 for approximately $2 million and no longer had any interest in the company. “Yet despite the trustee's request for records of this transaction, no such records have been produced to date,” the trustee wrote.

“Notably, in 2015, press reports show that Misr Glass was acquired by a third party for $93 million,” Biase wrote. “Furthermore, documents produced by Cedarview Capital Management LP … indicated that the debtor's affiliation and/or ownership of Misr Glass continued well past 2011.

“Documents obtained by the trustee from third parties strongly suggest that the debtor still possesses significant assets in Egypt,” Biase continued.

The trustee obtained a Dec. 23, 2019, communication from Zayat to a creditor stating: “Maybe it is our turn that things turn back to normalcy, and I will have the liquidity and right funds I need to manage Zayat Stables without relying on our income and ownerships on companies in Egypt that have been supporting this business.”

Another note from Zayat to a creditor on Jan. 12, 2020, stated: “I have pushed myself to the brink of bankruptcy personally by using every dollar I have in America to fund the company until I find an investor to pay you in full.”

Biase observed: “Given the foregoing facts, there is reason to believe the debtor still has assets in Egypt, some of which are the funds being funneled to him from the debtor's brother Sherif through accounts held in the name of JPZ Holdings (Justin Zayat's company) and Joanne Zayat.”

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Maker Files New Motion In Civil Case Against Ramseys, Alleges Payments Have Stopped

Trainer Mike Maker filed a motion for summary judgment against multiple Eclipse Award-winning owner/breeders Ken and Sarah Ramsey in Kentucky's Fayette Circuit Court on July 14, alleging that the couple have once again stopped paying their training bills.

Maker brought suit against the Ramseys in March 2021, alleging he was owed $905,357.29, which at the time was an improvement on the $1.25 million he had been owed in summer 2020. Ken Ramsey told this and other publications at the time of the filing that he expected to reach an agreement with Maker to finish paying off the bills and convince the trainer to drop the suit.

According to an affidavit filed by attorney Tyler Powell, Maker said Ramsey offered to pay $100,000 or more to him on or before the 15th of each month — and for a while, he did. Maker notes payments of $127,531.70 in March, $131, 290 in April, and $160,000 in May. After that, however, Maker said the payments stopped. In the meantime, the horses the Ramseys still had in Maker's barn continued running up bills in March and April, eroding some of his progress on the outstanding balance. Maker says the Ramseys now owe $505,385.92, and that figure doesn't include attorneys' fees associated with pursuing the outstanding balance.

Maker had filed UCC-1 financing statements with the Kentucky Secretary of State around the time he filed his civil suit, placing liens on the 27 horses he still had in his care at the time. His July 14 motion states he no longer has Ramsey horses in his barn.

The motion filed this week points out that Ken Ramsey hasn't contested that he owes the money.

“It's not that I'm not paying, it's just that I guess I'm not paying fast enough,” Ken Ramsey told the Paulick Report in March 2021. “I have never beaten anybody out of a dime.”

Maker requests a summary judgment from the court against the couple, and that motion is scheduled to be heard at the end of the month.

Trainer Wesley Ward also filed suit against the couple in March 2021, claiming he was owed $974,790.40 in unpaid training bills, his portion of purses, and interest. Ward placed liens on 44 horses in his care at the time he brought his civil suit. That case also remains open in Jessamine Circuit Court.

The Ramseys have won the Eclipse Award for Outstanding Owner four times (2004, 2011, 2013, and 2014) and the award for Outstanding Breeder twice (2013 and 2014). Since 2000, Equibase reports the couple has won 2,223 races from 9,814 starts for total earnings of more than $98 million. Their annual earnings have fallen from their peak in 2013 of over $12 million, and last year the stable brought in $2.3 million from 274 starts. Their Ramsey Farm in Nicholasville, Ky., was the longtime base for the operation's homebred and centerpiece stallion, Kitten's Joy, who relocated to Hill 'n' Dale in 2018.

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Maggie Wolfendale Joins Writers’ Room As Show Returns to Studio

It's been a long 16 months since the crew for the TDN Writers' Room presented by Keeneland were all together in their actual studio to record the podcast, and they reunited at last Wednesday morning, welcoming Fox Sports and NYRA paddock analyst Maggie Wolfendale on the show to share excitement about the opening of Saratoga to fans once again and discuss how to pick winning horses based on physical appearances.

“It's not even just the racetrack,” Wolfendale, calling in via Zoom as the Green Group Guest of the Week, said when asked to explain how integral fans and tourists are to Saratoga. “It's that the entire town knows they're racing. You can go anywhere and just sit at a bar and have a conversation about the third race on Friday. Then at the track, everyone has their own places they want to be. There's something for everyone too. It's that old county fair feeling. And it's all about the horses. People line the massive paddock we have and line the walkway from the backside to the paddock, where the horses are like boxers coming in for a big fight. The anticipation before every race is something that I don't think you necessarily see at other tracks the way you do at Saratoga.”

Wolfendale has proven herself an indispensable member of the groundbreaking America's Day at the Races broadcasts, in large part because of her expertise in horseflesh and ability to provide horseplayers insight from a close-up view of the animals.

Asked what she looks for in 2-year-old races in particular, she said, “They have the least form to go on, and they take the most prep work. But then sometimes, that prep work goes out the window once you see them in the paddock or on the track. You do your homework, you look at pedigrees; who might have that precocious pedigree that says they can win early, who's suited to different surfaces, who might be one that is crying out to get more distance as the 2-year-old season progresses. But when you look at them physically, a lot of times it comes down to the horse who is just the most physically mature, who's the furthest along from that physical standpoint. You can see the other ones are still developing, because the ones that are physically mature, they're just going to be bigger and stronger than their competition.”

Elsewhere on the show, which is also sponsored by West Point Thoroughbreds, Legacy Bloodstock and the Minnesota Racehorse Engagement Project, the writers looked forward to the Saratoga and Del Mar meets before being joined by TDN International Editor Kelsey Riley to reflect on the great Galileo. Click here to watch the podcast; click here for the audio-only version or find it on Apple Podcasts or Spotify.

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