5 comments on “NYRA’s CEO has a sweet deal

  1. Tom what a sad situtation that is not going to get better. I wonder if they realize that the window is closing on getting anything done. October 17 th 2015.
    At Belmont on Sunday May 4 and I did not see any new TV’s or up grades.
    However the parking was raised.
    Again nice article Joe Monaco

  2. Tom, I realize this is a nonprofit. Nevertheless, if you were to compare Kay’s compensation with other corporations this size, it’s probably modest. Churchill’s executives have been the subject of a lot of press lately. Churchill’s annual ravenues are about $700m and the NYRA’s are about half that. Churchill’s COO AND CFO both received compensations of nearly $10m each last year. Their base salaries were slighly over $1m. The CEO’s base is $1.5m. Personally, I don’t think the basic structure of Kay’s package is all that much. From a racing fan’s point of view, the quality of the NYRA CEO is the main isssue. It is probably too early to know that.

    • Thank you for commenting, Sal. My point is not the level of compensation, but rather that NYRA was not only deceptive about it, but then did everything they could to hide it.

  3. Tom, I never really was worried about Kay’s compensation package. It was more about what were his stated goals. Thanks to your efforts we were able to learn them. They appeared to be customer focused and not related much to privatization.

  4. Tom:
    Like others on here my problem is not the amount but, like you noted, the secrecy. Also, Kay seems aloof and insensitive to racing. Many longtime NYRA employees, the ones at the low to mid levels of pay, have been either let go or reduced to per diem arrangements rather than full time. Nothing worse than seeing a desperate attempt to make the numbers look good on the backs of the little guys. I’m disappointed none of the mainstream press have reported on what you mentioned as well as the layoffs, changes to per-diem etc.

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