- 3 - In each of the years 1988 through 1996, petitioners owned between 20 and 30 horses. Nearly all of the horses which petitioners owned between 1976 and 1996 were bred by petitioners. Petitioners purchased two females and half interests in two stallions during that 20-year period. Petitioners have not raised stallions for stud purposes. Instead, they send their brood mares to stud ranches. When their brood mares produce male foals, petitioners may have the foals gelded. Petitioners believe that gelding a horse may improve the horse's racing performance and earnings. Brood mares may appreciate in value when their offspring are successful in horse races. On a regular basis, petitioner personally visits the facilities where his horses are boarded and trained in order to inspect the condition of the horses and to consult with the caretakers and trainers. Including the time spent driving between his home and the horse facilities, petitioner normally spends at least 4 hours a day, 6 days a week, inspecting his horses and conversing with their handlers. Petitioners usually attend races in which their horses are participating. Petitioners send some of their horses to Arizona to race. These horses are more capable of racing successfully in Arizona than in California where the competition is greater. The only physical assets used by petitioners in their horse breeding and horse racing activities are their horses. PetitionersPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011