The Risks of a Horse Race for Corporate Governance

The Risks of a Horse Race for Corporate Governance

A horse race is a classic succession strategy in which senior executives vie for the role of chief executive officer. While this approach has its fans, governance observers often note that it can be disruptive to the organization. The problem is that once the winner of the horse race is anointed, it can remove from the field other senior executives who might have been interested in the position and may also alienate key leaders deeper in the company who might have aligned themselves with an unsuccessful candidate.

Horse racing is a centuries-old sport that has evolved from a primitive contest of speed and stamina into a huge public entertainment business. While horse races now feature vast fields of runners, sophisticated electronic monitoring equipment and enormous sums of money, the basic concept has remained unchanged: the winner is the horse that crosses the finish line first.

The horse racing industry is rife with illegal drug use. These drugs are used to enhance performance and mask pain, making the sport one of the most dangerous in sports. The lack of regulations and punishments for horse trainers and owners has fostered corruption and greed. It is no secret that horses are regularly sold to new owners without being vetted. The new owners often fail to disclose injuries and continue to race the injured horses. This ultimately leads to the horse becoming permanently lame and ends up in the slaughter pipeline.

In addition to illegal drugs, horse racing is known for its high levels of animal cruelty. For example, horse races are conducted on tracks with inadequate fencing and are often located near farms where swine live in cramped confinement. These conditions are known to cause stress and anxiety in the animals, which is known as cruelty. It is also common practice for racetracks to employ pit bulls as security guards, a practice that has resulted in numerous injuries and deaths of dogs and humans.

The term horse race can refer to any number of events in the United States, from a simple bet on a specific horse or group of horses to an exotic wager that requires players to pick the winners of two or more sequential races. A popular wager is the Daily Double, which involves picking the winners of the first and second race of the day. Another type of exotic bet is the Across the Board, which is a wager in which the player chooses a winner, a placer and a showr. The bet is paid out if the player wins all three selections. The other types of bets are the Pick 3, Pick 4, and Pick 6.