TGJB:

(1)The following question was posted on Steve Crist's blog on Monday September
17 in DRF: "Steve-- Do you see any conflict of interest on the part of the two
main sheet makers and there (sic)greatly expanding client advisory business?"

I am assuming the "two main sheet makers" the question refers to are the two
which are domiciled below 14th Street in Manhattan.

Let me first congratulate you if it is indeed true that your client advisory
business is "greatly expanding".

Now let me try to put myself in the mindset of the person who posed the question
to Steve Crist. My guess is that this person worries for the integrity or
accuracy of numbers assigned to performances of runners owned by TG/Rag clients.

Two scenarios: Client "A", a Millenium Stable type operation, the possibility
that runners from this stable would have inflated (lower) figures which may or
may not increase the value of these runners when they are sold as racing or
breeding stock.

Client "B", a large claiming operation, lets call it the "Winalose Racing
Stable", the possibility that numbers could be intentionally inflated/ deflated
depending on whether Winalose wanted runners to be claimed (intentional
inflation) or not claimed (intentional deflation).

I know what the answer will be regarding the isolation of figures from market
forces and the purity of the database, and have no reason to question the
veracity of the response. I'm wondering, though, if entities which use
performance figures strictly for wagering purposes (having no interest in
ownership of thoroughbreds) have expressed any concern over the perceived
conflict of interest mentioned in the Crist blog.

(2) This may have been discussed in detail in the past, but could you or Alan
or someone else over at the home office discuss, without revealing proprietary
information, what goes into the decision to put a "!" next to a runner's number?
I am aware that the general explanation is "a race which was better than it may
have looked to the public". Elaboration?