View Full Version : Lawrence Wong Contract extended
Mr Crapola
28-08-2002, 19:59
In todays SCMP Lawrence Wong has had his contract extended for another 5 yrs at $500,000 per month despite that fact that he'll surpass the automatic retiring age after 2yrs.
The extension was no doubt due to Wongs acheivement in raising revenue - something he has failed to do since 1996.
Wongs contract was extended by Mr Alan Li whose two sons Dominic and Sean have bee appointed by Wong within the jockey club.
Nice to see nepotism alive and well in the HKJC - f..king hypocrites !!!
tunginbum
28-08-2002, 20:05
Can't have looked too hard for a (better) replacement...
must agree that on the face of it hes seems to have been totally ineffective.
i hope brian kan demands to be reinstated after discovering the automatic retirment date is optional.
OK, I'll play the devil's advocate here. Since coming to HK, LW has built a competent team, e.g. both EB and Shreck are highly regarded. John Size was not exactly a big name trainer in Australia, nevertheless the HKJC gave him the opportunity to shine in HK. The HKJC has just spent tens of millions of dollars upgrading the facilities so that punters can lose their money in comfort. As far as technology is concerned, there are numerous ways for you to place your bets. The HKJC also has arguably one of the most informative websites in the world. The international races are also highly regarded in the world. The HKJC is also lobbying hard to have the tax rate lowered.
So what do you think are LW's major faults/failures? More importantly, what would you have done if you were in his place?
More importantly, what would you have done if you were in his place?
1)lobby harder for a reduced rake to the gov't lest they kill the goose who laid the golden eggs.
2)recommend hari-kari to all executives who underperform.
3) suspend some trainers where the jockey on their horse does not ride the horse to obtain the best possible finish.
Mr Crapola
29-08-2002, 01:32
You are kidding aren't you masun ?? The amount of money the JC makes they should be up grading their facilities at the very least.
Sure they've empoyed Winfried, Shreck and Co but I wouldn't call Chapple-Hyam a star recruit.
Wong continually introduces and/or supports any attempt to kick Macau in the guts when it has little effect on their own business.
He goes against his own company policy by continuing past the compulsary retirement age and makes a mockery of equal employment opportunity by overseeing Li's sons into key positions within the club.
Not to mention he has failed in his own key objective in raising revenue.
Worst of all, he is forever preaching about how the HKJC is a non profit charitable organisation -the same one that can pay him $500,000 per month when all the abovementioned is going on.
Even the devil wouldn't touch this one Masun and asking what others would do in his place is irrelevant.
[ August 28, 2002, 07:40 PM: Message edited by: Mr Crapola ]
hey crappy do you understand I'll play the devil's advocate.
what would you have done differently ??
Mr Crapola
29-08-2002, 01:53
As a CEO hobbes, I'd ensure that my key objectives were realised and any policies in place be adhered to by myself and staff.
[ August 28, 2002, 07:55 PM: Message edited by: Mr Crapola ]
Crapola you certainly don't like Lawrence Wong, do you?
Maybe he fully deserves our criticism and cynicism. Also, it's not for us to do his job for him. OTOH, if through our comments/suggestions the HKJC can pick up a useful idea or two, it wouldn't be such a bad thing, would it?
Mr Crapola
29-08-2002, 02:12
No it certainly wouldn't Masun and I hope you'll be kind enough to continue your translations of the HK press throughout the upcoming season.
down graded my opinion after reading about teh recent TT didvidend miscalculation and remebering the 2 6up errors. he should be held responsible!
Question: when did the JC start closing accounts of the big punters.
Was it before or during Lawrence Wongs leadership ?
Just noticed this little article in yesterdays paper - seems the writers may have read this thread! Maybe they should read the TT Dividend + sixup div threads too!
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JOCKEY CLUB CONTRACT RAISES NAGGING DOUBTS
Hong Kong Jockey CLub chief executive, Lawence Wong Chi-kwong, has just had his $500,000 a month contract extended for another five years by the club chairman Alan Li Fook-sum, and some are wondering why.
Not least as the new contract sees 63-year old Wong trotting well past the club's retirment age of 65. Unlike trainer Wong Tang-ping, who was put out to grass last year, and trainers Brian Kan Ping-chee and Lawrie Fownes, both 64, who will retire this year.
The Jockey Club says its a case of horses for courses. "The post of chief executive is employed on a contract basis [in] which retirement age is not spelled out...[and takes into consideration] the skills and capability of staff."
Naming Wong's big achievements has become something of a parlour game at the Jockey Club. And while raising revenue is obviously not one of them - revenue has fallen every year since 1996 - one or two old nags are fond of pointing out that Wong employs two if Li's sons, Dominic in the racing department and Sean in IT. However, SAR is sure this is nothing to do with his new contract.
[ August 29, 2002, 04:51 PM: Message edited by: Scarper ]
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