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"The NYRA reorganization board will help ensure that racing in New York has a strong and stable future as the gaming and racing industry evolves," the NYRA chairman C. Steven Duncker said.
The Senate majority leader, Dean G. Skelos, said: "The NYRA reorganization board will put in place new leadership to ensure that bettors and taxpayers are treated fairly and honestly.
Under the deal announced Tuesday between the governor and current NYRA directors, a new 15-member reorganization board, controlled by the governor's appointees, will replace the existing 25-member board of directors, a majority of whom are thoroughbred owners or others with longtime racing backgrounds.
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In the agency's latest reorganization, the board also voted to drastically shrink its nursing home — the largest in the state — by eliminating 379 of the 889 beds.
In the reorganization, the board will be reduced from 14 volunteer alumni to 11, mostly professional journalists, and the PAW staff will report to the director of the Alumni Council, Kathy Taylor.
The reorganization panel found that responsibility for environmental compliance was split among a hodgepodge of commissions and agencies, including the air and water boards.
A bankruptcy filing would presumably wipe out the value of the stock, lead to a board reorganization and force changes in labor contracts.
Ward's term ended with his resignation in 2003 amid allegations of ethical violations that prompted Congressional hearings and a reorganization of the leadership, board and staff.
Last year, even as it canceled its "Nutcracker," the company began a major reorganization, with a new board and a new artistic director, Ali Pourfarrokh.
United has not publicly given out detailed information on its plans for that low-cost carrier, but it is expected to present a reorganization plan to its board today that would further explain the operation.
Under a reorganization plan approved by the board, an Eveleth-area group will run the Hall museum and be responsible for its financing.
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