Word: galbraithe
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...syndicate to manage his stud career and 23 investors. Unfortunately, it is not one big happy family. Niatross's various owners have slapped one another with lawsuits, attempting to gain control over the colt's future. On one flank are Breeder Elsie Berger and Trainer-Driver Clint Galbraith; on the other is Stockbroker Louis Guida, manager of the Niatross syndicate. At issue is which breeding farm will have the benefit of his prestigious services...
When he was foaled at Hanover Shoe Farms in Pennsylvania in the spring of 1977, it seemed unlikely that the son of Albatross, one of the first megabucks harness sires, would end up in a broken home. Galbraith, 43, and the septuagenarian Berger had been informal partners for nearly a quarter of a century. When he was 19, Galbraith came as an apprentice to the woman's stables in Grand Island, N.Y., and over the years trained many of her top pacers. After Berger moved her breeding operation to Hanover Shoe Farms, she continued to use Galbraith...
...When Galbraith took his strapping (16 hands high) colt to the races, Niatross showed none of the gangliness of youth, winning his first six starts. Enter Stockbroker Guida, a Merrill, Lynch executive who dabbled in harness syndications as a sideline. In September of 1979, Guida bought half-interest in the colt for $2.5 million in cash plus performance bonuses. He quickly recouped that investment by selling 20 shares at $200,000 each...
Niatross continued to dominate the pacing field as a three-year-old, finally running up a string of 19 consecutive wins. In July the agreement between the owners came unraveled-and so did the colt. Galbraith and Berger sued Guida, hoping to invalidate the sale. The central issue was where Niatross would stand at stud. Galbraith wants the horse at the Scottsville, N.Y., farm run by his wife. The purchase agreement stipulates that Niatross will go to a farm of Guida's choosing. For her part, Berger will say only that she wants her colt to remain...
...Like Galbraith, Neustadt singled out the area of "economic management" as an essential feature of this new agenda, adding that he sees "nothing sufficiently constructive" in conservative suggestions to make it likely the right wing will supplant the liberal consensus