Tuesday, February 25, 2020

Laverne Cox Is Trying to Get Her Driver's License



Laverne Cox Is Trying to Get Her Driver's License

Laverne Cox talks about learning how to drive and the real reason she wants her license. Subscribe: https://bit.ly/2HFUeAK Website: https://ift.tt/2Sm4r8U Facebook: https://ift.tt/2T2rLcj Instagram: https://ift.tt/2g34k0n Twitter: https://twitter.com/LiveKellyRyan

SOCIAL MEDIA: I fell in love with Instagram after watching @Lavernecox par chance

Laverne Cox at a Marriott Hotel - Image may be subject to copyright


Laverne Cox is an amazing woman. I landed on her Instagram by chance and she has more than 4mln followers. All her posts Instagram posts are public. I have been on Instagram since its inception and I do not follow many people. Maybe just Richard Branson, Bill Gates, Michael Moore and those sort of people.

Now, I decided to troll my kids on Instagram recently (they had it coming) and when I go to Instagram, there is this very beautiful fit young lady dancing. I had to go check her out. You should check her out. She posts the most beautiful photos and videos.

Laverne does not post just photos and videos of her. Everything she posts has a story. It is truly incredible to read about her work and her life. What an inspiring sister.

Then, of course, apparently I did not know anything about her acting, dancing and modeling career. Guess what we are doing this week!! READING.

I want to learn everything about her so that I can believe that life is good, as good as it feels as I write this message. I am gonna watch every movie she has ever been in. I am gonna watch every video she has ever posted or what others have posted about her. I want to soak myself in the strength of the human race. I want to yell "HUMANITY IS GREAT". Then when I am done with all this, I am going to buy every book and magazine and news paper she has ever been in.

Okay, maybe not every printed thing about her but I bet the Shediac Library can get for me everything about Laverne Cox.

I would like to wake up every morning and get on my knees to thank the heavens for all the strong women and men who live to inspire others in all they do. I would like to wake up every morning and thank the Gods for people who teach us about love. UNCONDITIONAL LOVE. As perfect as God made us. I would so much love to see what I am gonna learn bringing me to the centre. The centre of kindness, compassion, love, appreciation, humility, hard work and patience (Patience might have to wait a bit though) ... I so look forward to returning home. Home from where I come. Home is LOVE.

MARTHA LEAH NANGALAMA
Moncton, Canada / Bududa, Uganda

Martha Leah Nangalama's Instagram

Dow Drops 1900 Points In 2 Days As Markets Sell Off On Fears Of Coronavirus Spread

MARTHA LEAH NANGALAMA - We barely bounced off the 200 Day Moving Average (200MA) at Market Close in North America today, February 25, 2020. There is no way we are gonna be helped by the 200MA. With two such long red candles, we are so definitely gonna pierce through that 200MA line and head south.

Put on your seat belts because you are gonna need protection. By the way, this is not a good time to buy because stocks are looking cheaper. Anything could happen and they fall further. Or, if you are a shorter like me, some person might announce a cure for Corona tomorrow and then we get a margin call to cover our shorts.

This is a market of HOLD and WAIT. Do not jump in. Not even the professional traders know what is going on with this Pandemic which no one dares say it is a pandemic. Currently only considered an Outbreak. Yeah, yeah right. 🙄🙄🙄
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Stocks Slide for 2nd Day as U.S. Sounds Alarm on Coronavirus

By Matt Phillips and Keith Bradsher, Feb. 25, 2020 Updated 6:41p.m.est, NEW YORK TIMES

https://www.nytimes.com/2020/02/25/business/stock-markets-covid-19.html

The spread of the coronavirus has rattled investors who fear new outbreaks will push down global demand.

Worried investors dumped stocks again Tuesday as American officials warned that it was only a matter of time before the coronavirus outbreak spreads to the United States.

A day after its worst one-day slide in two years, the S&P 500 closed down 3 percent on Tuesday, a decline that put the index deeper in the red for 2020.

“At this point the market is resigning itself to the fact that the impact of the coronavirus is going to be well beyond China and the first quarter of 2020,” said Yousef Abbasi, global market strategist at INTL FCStone, a financial services and brokerage firm.

Since the outbreak first emerged in January, the primary concern among economists and investors has been how a temporary paralysis of the Chinese economy — the world’s second largest — would affect global supply chains. For weeks, American investors paid little mind: As recently as last Wednesday, the S&P 500 was at a record high.

But since then, growing outbreaks in Europe and elsewhere in Asia — and a warning from health officials about the potential risks to the United States — have raised fears that the virus will threaten the nations that serve as key customers for almost everything the global economy produces.

“When you start to impact Western Europe and when you start to impact the United States, now you’re impacting the global economy way more significantly because you’re impacting these demand markets,” Mr. Abbasi said.

Monday was the worst day for American markets since February 2018, with the S&P 500 falling 3.4 percent after officials in Italy and South Korea reported new infections, and the tumble continued Tuesday. Declines in the S&P 500 were led by energy, industrial and materials shares, sectors of the market closely tied to Chinese demand for raw materials.

The Coronavirus Outbreak

What do you need to know?

Updated Feb. 25, 2020
What is a Coronavirus?
It is a novel virus named for the crown-like spikes that protrude from its surface. The coronavirus can infect both animals and people, and can cause a range of respiratory illnesses from the common cold to more dangerous conditions like Severe Acute Respiratory Syndrome, or SARS.
How contagious is the virus?

According to preliminary research, it seems moderately infectious, similar to SARS, and is probably transmitted through sneezes, coughs and contaminated surfaces. Scientists have estimated that each infected person could spread it to somewhere between 1.5 and 3.5 people without effective containment measures.

Where has the virus spread?
The virus, which originated in Wuhan, China, has sickened more than 80,000 people in at least 33 countries, including Italy, Iran and South Korea.

How worried should I be?
New outbreaks in Asia, Europe and the Middle East are renewing fears of a global pandemic. The Centers for Disease Control and Prevention warned this week that Americans should brace for the likelihood that the virus will spread to the United States.

Who is working to contain the virus?
The World Health Organization officials have been working with officials in China, where growth has slowed. But this week, as confirmed cases spiked on two continents, experts warned that the world is not ready for a major outbreak.

What if I’m traveling?
The C.D.C. has warned older and at-risk travelers to avoid Japan, Italy and Iran. The agency also has advised against all non-essential travel to South Korea and China.

How do I keep myself and others safe?
Washing your hands frequently is the most important thing you can do, along with staying at home when you’re sick.

The sell-off accelerated after the Centers for Disease Control and Prevention warned Americans that they should brace for the likelihood that the coronavirus will spread to communities in the United States.

“It’s not so much of a question of if this will happen in this country anymore, but a question of when this will happen,” said Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases. “We are asking the American public to prepare for the expectation that this might be bad.”

Investors moved into the safety of government bonds, pushing their prices up and yields down. The yield on the 10-year Treasury note closed at a record low of 1.335 percent and the 30-year bond also dropped to a record of 1.81 percent — two signals that investors expect growth in the United States to slow.

“The rate at which people are buying, particularly long-end interest rate products, is extraordinary,” said Rick Rieder, chief investment officer of global fixed income at BlackRock.

The virus may merely be a catalyst for an overdue sell-off, some analysts said.

The S&P 500 rose 17 percent between early October, when the market first caught wind that the Trump administration was close to an interim trade deal with China, and last Wednesday, when it closed at a record high. At the same time, forecasts for this year’s corporate earnings — the lodestar for forward-looking stock market investors — have been falling.

The combination of higher stock prices and lower expected earnings made stocks look increasingly overpriced according to widely used metrics, such as price-to-earnings ratios. This month, the S&P 500 reached a price-to-earnings ratio of 19 times the next 12 months’ expected earnings, the highest level since May 2002.

A high ratio is precarious: Even slight changes in profit expectations can result in big price swings.

“It really requires everything to go well,” said Stephen Gallagher, chief U.S. economist for Société Générale. Now, he said, the market is “entering a period where we’re seeing valuations adjust very abruptly.”

While jarring, the jolt the market has suffered so far isn’t extreme. The S&P 500 was down about 7.6 percent from its recent record high at the end of Tuesday’s trading day.

Still, the slump is already raising expectations that the Federal Reserve could take action to lower interest rates if the sell-off deepens.

In comments on Tuesday, Vice Chairman Richard H. Clarida signaled that Fed was not yet ready to act, though it is monitoring economic developments related to the virus.

But in recent days, the market-based probability — derived from prices in the Fed funds futures market — of a rate cut at the Fed’s April meeting jumped to over 60 percent, according to data from CME. Last Wednesday, when markets were at record highs, the market was putting odds of a cut at the April meeting at less than 25 percent.

Markets have come to rely on the Fed to step in during periods of extreme stress. In late 2018, after a nearly 20 percent tumble in stocks, the Fed backed away from its plan to continue raising rates. Instead, it cut rates three times in 2019, which helped supercharge almost every form of financial asset and sent the S&P 500 up 28.9 percent for the year.

Growing expectations of rate cuts could help explain the sharp decline in bond yields in recent days, said Scott Mather, chief investment officer of U.S. Core Strategies at Pimco. Investors may be flocking to short-term government debt in the expectation that lower rates from the Fed will raise the value of their holdings.

“I think that you’ll hear more about that from the Fed in coming days, certainly if we have a couple more days like this,” Mr. Mather said.

Disney chief executive Robert Iger steps down and is replaced by a theme-park lieutenant

The Walt Disney Co. named the longtime chairman of its parks, experiences and products division, Bob Chapek, as its new chief executive officer. (Joshua Sudock/Disneyland Resort/Getty Images)

By Steven Zeitchik Feb. 25, 2020 at 8:52 p.m. AST
THE WASHINGTON POST

In a surprise move, Disney chief executive Robert Iger steps down and is replaced by a theme-park lieutenant

In a move that stunned the entertainment world, Walt Disney Co. chief executive Robert Iger announced Tuesday that he was stepping down from his position immediately and would be replaced by Bob Chapek, 60, the head of its theme park division. Iger would remain on as executive chairman focused on creative endeavors, he said.

Iger, 69, has long been planning retirement and had postponed a scheduled departure date several times. The most recent had been slated for the end of 2021, when his current contract expires.

But the news that he would leave his post immediately sent shock waves through the industry, which has seen Disney not only as one of the most successful entertainment conglomerates but its most deliberate. Even its more aggressive expansions, which of late have included the acquisition of 21st Century Fox and the launch of streaming service Disney Plus, unfurled over years before finally becoming official.

“Why now, and was the announcement accelerated for any reason?” analyst Ben Swinburne of Morgan Stanley asked Iger on an investor call, channeling the feeling of many who follow the entertainment giant.

Iger downplayed the suddenness of the news.

“With the asset base in place and with [streaming] strategy essentially deployed, I should be spending as much time as possible on the creative side of our business,” he said, referring to the Fox acquisition and the Disney Plus launch. “It was not accelerated for any particular reason other than I felt the need was now.”

Iger served in the post for 15 years, succeeding Michael Eisner, who held the job for some 20 years.

Chapek, a 27-year veteran of Disney, served as president of consumer products before running theme parks. He will take over as just the seventh chief executive in Disney’s history.

Chapek, who is little-known to many figures in Hollywood, acknowledged his experience on the film and television side was modest. But he said he had “great exposure and a fairly broad overview of how the company operates” from working closely with Iger in recent years.

Iger said his goal was to fly around the world overseeing Disney’s creative holdings — they include everything from ESPN to Hulu to film and television studios — in his new role. But how much Iger will be directly involved in those realms — or whether this was simply a graceful way to make the transition to Chapek — remained unclear.

Modern Disney has never separated the creative and business sides at the top executive level the way some content firms do. That will, at least formally, remain the case: Iger said he did not want to take a chief content officer title and risk undermining Chapek’s influence in that regard.

Asked about the board’s search for his successor, Iger said that “we were extremely fortunate to have someone in Bob who knows the company extremely well that we know so well.” He said the board “obviously did its duty in conducting a thorough process.”

Chapek takes the job after numerous failed efforts to find a successor for Iger. Thomas Staggs, who once ran the theme parks division and later became chief operating officer, was long thought the heir apparent. But he fell out of favor and left the company in 2016.

Investors were relatively nonchalant about the news, sending the stock price down just 2 percent in afterhours trading.

Keith Gangl, a portfolio manager at Gradient Investments, which holds Disney among its core assets, said in an email to The Post that while “we were surprised by the timing of the announcement," the news did "not dampen the outlook for the company.

“Disney is a strong producer of content and entertainment and with Chapek’s experience with parks and products, his background should continue to drive the company forward,” he said.

Still, the news marks an end of a historic era. Iger leaves the CEO post as one of the most successful executives in modern media.

Arriving at Disney in 1996 via its acquisition of Capital Cities/ABC, where he had served as president and chief operation officer, Iger was promoted to the same role at Disney in 2000 before taking over the top spot from Eisner in 2005. He soon set about remaking the company, spearheading an expensive acquisition spree that included Pixar, Marvel Studios and Lucasfilm.

Iger’s Disney tenure was marked by a series of bold but in retrospect intuitive gambles that expanded its reach beyond just a company with a strong children’s success to an all-ages juggernaut. Disney under Iger was both a propellant and beneficiary of the contemporary trend for youthful entertainment as adult product, a trend most evident with comicbook movies. Three of the five highest-grossing films of all time in the United States are Marvel pictures, all of which came out in 2018 or later.

The movie studio was Disney’s crown jewel, particularly with its ability, under the direction of Iger and Marvel Studios’ chief Kevin Feige, to match homegrown product to a chaotic international market. In 2019, Disney notched more than $11 billion in global box office revenue, a record. That number was anchored by “Avengers: Endgame,” with $2.8 billion the highest grossing global movie of all time.

He also undertook the move of competing with Netflix by removing much of the company’s content from the service to feed Disney Plus, which also includes a slew of original programming. The budget-friendly service is seen as an early success with nearly 30 million subscribers in the United States and an international expansion ahead of it. The success of the Fox acquisition remains an open question, as the company has consolidated that firm’s film studio and looked to take advantage of its robust TV operations, a Disney need.

Iger was rewarded well for his efforts. In the most recent fiscal year, his compensation reached $47.5 million, among the highest for media executives. It was dwarfed by his total from the previous year, when he received $65.6 million. That number was swollen by a stock-incentive package the board gave him to postpone his retirement.

THE AUTHOR, Steven Zeitchik covers the business of entertainment for The Washington Post, examining the industry's trends, challenges, issues and ideas. Before joining The Post, he covered entertainment for the Los Angeles Times for eight years. He also did reporting tours for The Times in places including Ukraine, Egypt, Germany and the Bill Cosby trial.Follow

Wikipedia's Article of the Day February 26, 2020: The Cabinet of Dr. Caligari

The Cabinet of Dr. Caligari is a German silent horror film, first released on 26 February 1920. It was directed by Robert Wiene and written by Hans Janowitz and Carl Mayer. Considered the quintessential work of German Expressionist cinema, it tells the story of an insane hypnotist (Werner Krauss) who uses a somnambulist (Conrad Veidt) to commit murders.

The film features a dark and twisted visual style. The sets have sharp-pointed forms, oblique and curving lines, and structures that lean and twist in unusual angles. The film's design team, Hermann Warm, Walter Reimann and Walter Röhrig, recommended a fantastic, graphic style over a naturalistic one.

With a violent and insane authority figure as its antagonist, the film expresses the theme of brutal and irrational authority. Considered a classic, it helped draw worldwide attention to the artistic merit of German cinema and had a major influence on American films, particularly in the genres of horror and film noir.

AS CORONAVIRUS SPREADS, STOCKS FALL AGAIN AND THE WHITE HOUSE FRETS ABOUT A BLACK SWAN

Tourists wearing surgical masks walk past Milan’s famed cathedral on Monday, as Italy locked down fifty thousand people in ten towns to contain the first major coronavirus outbreak in Europe.Photograph by Andrea Mantovani / NYT / Redux
By John Cassidy, February 25, 2020, THE NEW YORKER

As more European countries, including Austria, Spain, and Croatia, reported cases of covid-19, the pathogen associated with the coronavirus outbreak, the U.S. stock market fell again, on Tuesday morning. By noon, the Dow Jones Industrial Average was down almost three hundred points, or about one per cent, following its thousand-point slump on Monday.

This fall in stock prices was an accident waiting to happen. After a ten-year bull run, the S. & P. 500 index rose a whopping 28.9 per cent in 2019 and continued to reach new highs until early February. Investors appeared to be shrugging off the alarming news about the spread of the coronavirus inside and outside of China, but the sang-froid was never likely to last. It crumbled over the weekend, amid reports of people getting sick in places as far afield as Egypt, Italy, and the United Arab Emirates.

The rising death toll of the coronavirus is primarily a human tragedy, of course. And, as Tedros Adhanom, the director-general of the World Health Organization, pointed out on Monday, the news isn’t all bad. For a couple of weeks now, the number of newly diagnosed cases of covid-19 has been falling inside China, as the government’s draconian measures appear to have taken effect. But investors are focussing on the possibility of the virus spreading around the world. “We now consider this to be a pandemic in all but name, and it’s only a matter of time before the World Health Organization starts to use the term,” Bharat Pankhania, an expert on communicable diseases at the University of Exeter, in England, said on Monday.

Monday’s drop in the Dow didn’t rank in the index’s top-twenty daily moves in terms of percentage. But it was the Dow’s third-biggest single-day points decline ever, and it was large enough to get the attention of Donald Trump, who was making a state visit to India. Forty-five minutes after the market closed—at 3:15 a.m., India time—he tweeted, “The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!”

Trump places a lot of emphasis on the market, of course. It was predictable, and understandable, that he would try to project an aura of calm. Behind the scenes, though, he has “voiced his own anxieties, rebuking public health leaders over last week’s decision to fly home 14 Americans who tested positive for the virus while aboard a cruise ship in Japan,” as Politico reported on Friday. According to the Washington Post, Trump “again became irate after learning over the weekend that federal officials planned to house some coronavirus patients in an Alabama facility despite protests from local officials.”

From a political perspective, the virus presents two threats to the President. If covid-19 spreads inside the United States, the White House could be held responsible for botching its response to the virus’s outbreak. Democrats are already sharpening their knives. “The Trump Administration has been asleep at the wheel,” Chuck Schumer, the Senate Minority Leader, said on Monday, on the Senate floor. “President Trump, good morning! There’s a pandemic of coronavirus. Where are you?”

The other threat to Trump is an economic one. If the stumble in the stock market is a one-off event, it won’t have much impact politically. But, if Wall Street goes into an extended slide, or if the broader economy gets hit badly as the virus spreads, it could change the political environment going into the election.

On Monday, MasterCard and United Airlines joined Apple and other multinational corporations in announcing that the emergency measures which China and other countries have introduced—and also the disruption to the international transport of commodities and people—are already adversely affecting their businesses. Among Wall Street economists, however, the consensus is still that the over-all impact on the U.S. economy will be relatively limited. The economics team at Goldman Sachs reckons that the fallout from the virus will reduce annualized economic growth in the first quarter of 2020 by about 0.8 per cent, but it also predicts that most of this decline will be made up later in the year, as the situation stabilizes and activity rebounds.

This sort of analysis reflects the fact that the vast U.S. economy is more like a supertanker than a sailboat, and that it takes something both dramatic and persistent to knock it permanently off course. Even after 9/11, when the country was traumatized and airlines were grounded, the economy rebounded in short order. Other advanced economies have also demonstrated an ability to recover pretty rapidly from man-made and human disasters.

However, the coronavirus isn’t a one-time shock like 9/11: the reality is that nobody really knows how severe the health crisis will become or what impact it ultimately will have on the economy. In a filing with the Securities and Exchange Commission, United said that “the range of possible scenarios is too wide to provide earnings guidance at this time.” The economists at Goldman Sachs warned that “the risks are clearly skewed to the downside until the outbreak is contained.”

In Republican circles, the phrase of the moment is “black swan”—a term for low-probability events that have hard-to-predict effects. “The view in the White House is that this is one of those classic black swan events, and all we can do is control the health issues in the U.S.,” Stephen Moore, a conservative economic analyst who is close to the Administration, told Politico. Spencer Zwick, a veteran Republican fund-raiser, said to the Washington Post, “We’ve always said that the president has a better shot of being reelected in a good market, but there is talk of whether there could be a black swan event that changes things.”

Some investors and analysts are already speculating about the Federal Reserve cutting interest rates again, in order to shore up the economy. Policymakers aren’t due to meet again until March 17th, though. If the stock market falls much more between now and then, Trump will surely renew both his attacks on the central bank and his calls for lower rates. He may even go further. But, whatever happens, we have just been reminded that politics, like life, is full of uncertainty.

THE AUTHOR, John Cassidy has been a staff writer at The New Yorker since 1995. He also writes a column about politics, economics, and more for newyorker.com.

CANADA: Stronach demands MacKay apologize for alleged 'dog' comment

Hon. Peter MaCkay's wedding. Image may be subject to copyright
Frank Stronach spent decades grooming his daughter, Belinda, to take over his billion-dollar business. Image may be subject to copyright
Belinda Stronach, Frank Stronach. Image may be subject to copyright
MARTHA LEAH NANGALAMA - Background. Hon. Peter MaCkay is an MP from Nova Scotia. He is a lawyer by profession. He used to be Canada's Minister of Defence. He used to date Hon. Belinda Stronach.

Belinda Stronach used to be a VP at Magna International (actually owns the company). It sells automotive parts and was owned by her dad and Belinda was a senior executive in her dad's company. She is one of the few billionaires women in Canada.

Now, Belinda used to be in opposition in bed with the likes of Hon. Stephen Harper and Hon. Peter MacKay.

I have no idea what happened before the thing. Belinda walks across the floor on the floor of Parliament in Ottawa and joins the Liberals. 
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From Wikipedia, the free encyclopedia https://en.wikipedia.org/wiki/Belinda_Stronach
Jump to navigationJump to search The Honourable Belinda Stronach PC

Minister of Human Resources and Skills Development
In office May 17, 2005 – February 5, 2006
Prime Minister Paul Martin
Preceded by Lucienne Robillard
Succeeded by Diane Finley
Member of the Canadian Parliament
for Newmarket—Aurora
In office June 28, 2004 – October 14, 2008
Preceded by New riding
Succeeded by Lois Brown
Personal details
Born Belinda Caroline Stronach
May 2, 1966 (age 53)
Newmarket, Ontario, Canada
Nationality Canadian
Political party Liberal (2005–present)
Other political
affiliations Conservative (before 2005)
Spouse(s) Donald J. Walker (div.)
Johann Olav Koss (div.)
Children 2
Parents Frank Stronach (father)
Residence Toronto, Ontario, Canada
Occupation Chairman & President, The Stronach Group

Belinda Caroline Stronach, PC (born May 2, 1966) is a Canadian businesswoman, philanthropist and former Member of Parliament (MP) in the House of Commons of Canada from 2004 to 2008. Originally elected as a Conservative, she later crossed the floor to join the Liberals. From May 17, 2005, to February 6, 2006, Stronach was the Minister of Human Resources and Skills Development and Minister responsible for Democratic Renewal in the government of Paul Martin. After leaving politics, she served as the executive vice-chairman of Magna International, Canada's largest automotive parts manufacturer until December 31, 2010.[1]

Stronach is the chairman and president of The Stronach Group and the founder and chair of The Belinda Stronach Foundation, a Canadian charitable organization. She also co-founded Acasta Enterprises and served as its director until 2017 when she resigned from the board.[2]

In the early 2000s, Stronach was highlighted by the World Economic Forum and media outlets, like National Post and Fortune Magazine, as a promising future leader. Stronach's management of The Stronach Group is the subject of controversy, with her father suing her for mismanagement. She countersued in 2019.[3]
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ABOUT MAGNA COMPANY

Stronach Group From Wikipedia, the free encyclopedia
  (Redirected from The Stronach Group)
Jump to navigationJump to search The Stronach Group
Type: Private
Industry Horse racetracks
Headquarters Aurora, Ontario, Canada

Key people
Frank Stronach, Founder and Honorary Chairman
Belinda Stronach, Chairman and President
Tim Ritvo, COO

Website www.1st.com
Stronach Group, doing business as 1/ST, is an entertainment and real estate company in North America with Thoroughbred horse racing and pari-mutuel wagering at the core.[1]


The Stronach Group entered the horse racing industry by purchasing Magna Entertainment Corporation's former holdings from MI Developments.[2] In January 2020, the company announced a rebranding to the 1/ST banner for all consumer-facing operations.[3]

Magna Entertainment Corporation[edit]
Magna Entertainment Corporation (MEC) was created in 1999 by parent company Magna International Inc. Magna International, a major automotive supplier based in Ontario, Canada, underwent a corporate reorganization in which its non-automotive businesses and interests were transferred to MEC. In March 2000, Magna International distributed shares in its new division to its current stockholders, establishing MEC as a separate public company.[4] Magna Entertainment filed for Chapter 11 bankruptcy.

Stronach Group today[edit]
Stronach Group currently owns or manages racetracks in North America, and one racetrack in Austria, including many thoroughbred tracks and two mixed (thoroughbred and standardbred) tracks. Stronach Group also operates the simulcasting venues at these tracks, as well as OTB (Off-track betting) facilities.

Other ventures include Xpressbet, a wagering business that allows customers to wager on over 100 horse racing tracks via internet or telephone

Stronach Group also owns thoroughbred training facilities in conjunction with its racetracks in California, Florida, and Maryland, and owns and operates facilities that manufacture a straw-based bedding product, StreuFex.[1]

Magna Entertainment Corporation has recently moved to add additional gaming attractions, such as slot machines, to several of its tracks. In 2004, voters in Oklahoma approved legislation that allowed Stronach Group to add slot machines at Remington Park racetrack in Oklahoma City. Remington Park opened its casino, featuring 650 Class II gaming machines, in November 2005.[5] Gulfstream Park in Hallandale Beach, Florida, followed suit in November 2006, with 516 slot machines and poker.[6] Magna Racino in Austria also features alternative gaming.

In 2006, Magna Entertainment Corporation completed its purchase of AmTote International, who provide totalizator services to the horse racing industry. On March 23, 2010 an agreement was reached to sell the two Maryland Jockey Club tracks (Pimlico and Laurel Park) from Magna Entertainment Corporation to its parent company MI Developments. MI Developments will receive the tracks from M.E.C. in exchange for paying $25 million in cash for claims to Maryland Jockey Club creditors and $89 million to other creditors through a new reorganization plan. The U.S. Bankruptcy Court in Delaware, has until April 30 to approve Magna's reorganization plan.
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Stronach demands MacKay apologize for alleged 'dog' comment


By CBC News, Posted: October 20, 2006
Last Updated: October 21, 2006

Liberal MP Belinda Stronach has demanded an apology from Foreign Affairs Minister Peter MacKay following allegations he referred to her as a dog in the House of Commons.

"For that kind of comment to be made is just plain unacceptable," Stronach told reporters Friday. "I expect an apology for that."

Stronach said the comments, allegedly made during question period in the House on Thursday,represent the "attitude of this government toward women."

"The fact that no one would take responsibility for this kind of commenttoday I think shows that," she said.

Stronach, the Liberal member for Newmarket-Aurora,said she would accept an apology from MacKay. Asked whether she thought MacKay was "sexist," she said he "should answer those questions."

Stronach also accused the government of turning its back on women's rights and criticized recent cuts to women's groups that do advocacy, lobbying or general research.

MacKay refuses questions
MacKay continued Friday to deny allegations he made the remark.

He refused to answer questions from reporters on whether he would issue an apology, and said the Liberals were trying to distract people with"silly and scurrilous" allegations.

MacKay said the matter has been handed over to the Speaker of the House, Peter Milliken.

"The Speaker will rule on that," MacKay, the MP for Central Nova,said after touring a sewage treatment plant on the Halifax waterfront.

"They can check the record of Hansard. It's not there. It's not there. I said nothing about a dog."

Hansard is the transcribed record of debates in the House of Commons.

The Speaker has said there's nothing he can do because he did not hear the comment, it does not appear in Hansardand cannot beheard onthe audio recording of the proceedingsof the House.

The Liberals have said they plan to take the audio recording and try and have it enhanced.

Liberal MP makes allegation

The alleged incident took place during Thursday's parliamentary debate about the Tories' clean air plan.

MP Mark Holland said a fellow Liberal jokingly asked MacKay about the impact of pollution on humans and animals: "What about your dog?"

Holland alleges MacKay motioned in response toward Stronach's vacant seat and replied: "You already have her."

Holland lodged a complaint with the Speaker and has demanded MacKay apologize.

"It's completely unacceptable to call a woman a dog and to point over to her is completely disgusting," Holland, who represents the Ontario riding of Ajax-Pickering, said after the session.

"And he owes Belinda an apology, he owes the House an apology, he owes women an apology."

House needs greater decorum: Kenney

During question period on Friday, Liberal MPs Ralph Goodale and Raymonde Folco andBloc Québécoismember Monique Guay all rebuked MacKay for his alleged comments, saying he owed Canadian women an apology.

Jason Kenney, the parliamentary secretary for the prime minister, said Friday the party trusts the Speaker's judgment on the matter.

"All members could exercise greater decorum in this place," he said.

Kenney said a number of female Conservative MPs have been the target of questionable remarks, including Environment Minister Rona Ambrose, who Kenney said an Opposition member called a "potted plant."

Stronach, MacKay dated

Stronach, a former Conservative leadership contender, had a high-profile breakup with MacKay when she crossed the floor to join the Liberals in May 2005.

The couple had been dating for months and MacKay retreated to his father's farm in Lorne, N.S., giving several emotional interviews and declaring his heart was "a little banged up."

The twice-divorced Stronach has attracted attention in recent weeks after it was alleged that she had an affair with former Toronto Maple Leaf player Tie Domi. The allegation was made in documents filed in a divorce proceeding by the hockey player's ex-wife, Leanne.

Stronach released a statement denying responsibility for the dissolution of Domi's marriage.

MacKay has prompted media speculation about his relationship with U.S. Secretary of State Condoleezza Rice, particularly after her visit to Nova Scotia in September. Rice's spokesperson later denied there was any romantic relationship.

With files from the Canadian Press