The memorandum argues that the bankruptcy of the New York City Off Track Betting Corporation is not due to the laws governing how the corporation pays part of its retention on wagers to the racing industry and the State. Rather, the problems have been caused by the inefficiencies within the...

The paper examines the history of the quote attributed to Red Smith about Saratoga Springs that “From New York City you drive north for about 175 miles, turn left on Union Avenue and go back 100 years."