BUSINESS

High-paid exec’s solution for New York OTB: invest in a time machine

TAGs: Greg Rayburn, Horse Racing, New York OTB

New-York-OTBWhat kind of advice does $1.5M buy you these days? The really expensive kind, dummy! New York City’s financially-strapped Off-Track Betting Corp. hired Greg Rayburn at the not at all extravagant salary of $125K/month, in the hope that he’d come up with some kind of innovative solution to OTB’s financial dilemma. Rayburn’s solution? Pretend it’s 1955! Yep, defying conventional wisdom, Rayburn thinks OTB should hand someone else its telephone and online betting facilities, while OTB focuses all its attention on its land-based betting shops. See, that’s why he earns the big bucks. Read more.

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