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Petitioners argue that Mr. Abbene expected current profits
from the use of his horses by ABC because ABC promised "many,
many more jobs" and that he hoped that such work would provide a
springboard to additional similar work. Petitioners, however,
offered no evidence to substantiate that expectation. Blue
Ribbon contracted with ABC on two occasions during 1989. It is
uncontroverted, however, that ABC had no further dealings with
either Mr. Abbene or Blue Ribbon after the February 1989
agreement to rent King Lion. Moreover, James Balzaretti, the ABC
employee responsible for procuring props needed for the
production of AMC, testified that he had no recollection that ABC
made any promises that it would use Blue Ribbon for further film
work. In fact, he indicated that subsequent to the episode
filmed during February 1989, no horses were needed for the
production of AMC. Additionally, there is nothing in the record
to indicate that Mr. Abbene actively sought additional film and
television work after February 1989. In light of those
circumstances and given the magnitude of Blue Ribbon's losses in
relation to the income generated from its activities, we are
unpersuaded that Blue Ribbon was likely to ever make a profit,
much less recoup its past losses.
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