Integrity discussed again

The 2005 Harness Tracks of America/Thoroughbred Racing Associations joint annual meeting began Thursday morning in Indian Wells, Calif., and after welcoming remarks made by TRA president Joe Harper and HTA president Jeff Smith, four women with high-ranking positions in the racing industry told the gathering of their individual situations.



Cheryl Buley of the New York Racing and Wagering Board, Ingrid Fermin of the California Horse Racing Board, Lynda Tanaka of the Ontario Racing Commission and Connie Whitfield of the Kentucky Racing Authority were the members of the opening panel and each spoke of the need for integrity.



Buley stated at one point that she would like to see the integrity process continue, and that "I will not rest until that happens."



Via video teleconfrencing from London, the group heard a presentation from Lee Amaitis, the executive managing director of Cantor Fitzgerald. Amaitis's comments regarding his company's technology versus that used by U.S. companies brought about some spirited discussion at the end of the presentation.



Amaitis discussed how Cantor Fitzgerald has approached the gaming industry, one in which it has become more active in recent years. "A $100,000 bond trade is fundamentally the same transaction as $10 to win on the #3 horse in the 2nd race at the Meadowlands," he said in comparing the way his company views stocks and bonds transactions versus the foray into sports betting.

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