Untold words have been written and uttered about the rise and fall of countless companies and industries, including such once seemingly rock-solid organizations as General Motors and AIG and the enterprises of banking and home building. Pari-mutuel wagering on horse racing is on the list. Jim Collins is a former instructor at the Stanford Business School [...]

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Governor Ted Strickland of Ohio, a Democrat, was steadfastly opposed to expanded gambling in the Buckeye state as recently as June 2009.   Since his election in 2006, he has promised to veto any bill that the legislature might send him permitting racetrack slots.   In addition, he campaigned against a 2008 ballot initiative that would have [...]

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Frank Stronach’s persistence in the face of adversity exemplifies what separates the most successful entrepreneurs from the pack. In the wake of the bankruptcy of Magna Entertainment Corporation–when the assets have not yet been disposed of–Mr. Stronach is again playing a high-stakes game.

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