Wild Ride is Ann Hagedorn Auerbach's award-winning chronicle of the tragic story behind the downfall of horse racing's crown jewel.
Founded in 1924 by Chicago mogul William Monroe Wright, Calumet Farm was to the world of thoroughbred racing what the New York Yankees are to baseball--a sports dynasty. The stable bred so many superstars that it became the standard by which all achievements were measured in the horse racing industry. But during the 1980s, a web of financial schemes left Calumet destitute.
Auerbach's account is an investigation of the fast-track, multibillion-dollar thoroughbred industry and the fall of Calumet--the inside story of a debacle that extended further than anyone could have imagined. Spanning four generations, this fast-paced saga brings to life a gallery of colorful characters from Calumet's glittery past. Wild Ride shows the industry's transformation from a clubby blue-blood society where a handshake closed a deal to a high-stakes business bulging with bankers and scandalous deal making. When the Bluegrass Bubble exploded, one of America's largest family fortunes lay in ruins.
"A fascinating tale with a cast of characters worthy of Dickens -- or Runyon." -- Carl Desens, BusinessWeek
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Ann Hagedorn Auerbach is a former Wall Street Journal reporter, and has also written for The San Jose Mercury News, The New York Daily News, and The Washington Post. She is the award-winning author of Wild Ride: The Rise and Tragic Fall of Calumet Farm, Inc., which was a regional bestseller and launched a government investigation. She lives New York City.
Calumet Farm sits on a high plateau in central Kentucky, a land of rolling savannahs known as the Bluegrass and the world center of the thoroughbred horse industry. Here, partly because of an accident of nature, breeders have produced more champion racehorses than on any other piece of land in the world.
The geological accident occurred more than 450 million years ago. At that time, while the eastern United States was still under water, great collisions on the earth’s surface forced the formation of mountains where the Appalachians stand today. Over the next 200 million years, a pattern emerged: the mountains eroded, the collisions resumed, and new mountains rose, only to erode once again. As each range of mountains formed, the impact sent waves of the earth’s crust westward. Of the many waves, one grew until it formed a high ground that consisted largely of limestone and measured fifty miles across and several hundred miles long, extending from what is now Ohio to southern Tennessee.
On the surface of this high ground was a dark brown soil, nourished by the limestone beneath it and uncommonly rich in phosphate from millions of deposits of shells and skeletons. The soil also contained an abundance of calcium, but it was the phosphate, normally found at such concentration only on ocean floors, that would dazzle geologists for centuries. The grass that grew from this soil was unique in its ability to nurture strong bones in the animals that grazed upon it. And the greatest concentration of the soil was in a 2,500-square-mile area whose center would someday be Fayette County, Kentucky, the heart of the Bluegrass.
Thousands of years after the first grass grew on the high plateau and many miles away, horse breeders in England began a centuries-long pursuit that would have as much impact on the future of the Bluegrass as geology. Their quest was the search for a new type of horse to take advantage of a new kind of weapon—gunpowder.
Horses were used mainly to transport men, supplies, and weapons until the Normans, in 1066, won the Battle of Hastings with the help of superior horses. For several centuries thereafter, the breeding of a sturdy mount capable of carrying the 350-pound weight of a knight in full armor was a critical part of military strategy. But with the invention of gunpowder in the fourteenth century, armor became obsolete and armies needed fast, agile horses capable of darting quickly out of the range of fire. In the Middle Ages, though, the only light horses in England didn’t have the stamina for war, while the strong horses were too slow.
For centuries the English tried, without success, to create the perfect steed. By the sixteenth century, not only armies sought the new breed, but horsemen did, too, because racing was growing in popularity, especially in the royal courts of James I, Charles II, and Queen Anne. For the inventive breeder who could find the right combination of speed and stamina, there were big profits to be made. The breakthrough came in the late seventeenth century when the English began breeding their mares to stallions from North Africa and the Middle East. From these matches came the “invention” of the thoroughbred horse.
Every thoroughbred’s male line extends back to one of three sires: the Byerly Turk, the Darley Arabian, and the Godolphin Barb. Captain Richard Byerly captured the first of these, a black warhorse, during a 1688 battle in Turkey, shipping it to England in 1689. Around 1704 the merchant Thomas Darley purchased the second stallion in Syria and sent it to his brother, a breeder in England. By most accounts a North African ruler sent the third stallion, born in Yemen in 1724, as a gift to the king of France. But the king didn’t like the looks of the horse and discarded it. A few years later, a Frenchman walking along the streets of Paris noticed a horse with welts on its back and wounds on its legs pulling a cart. He rescued the horse, which was the Yemen stallion, nursed it back to health, and sold it to the second earl of Godolphin, who then took the stallion to his farm in Newmarket, England, to breed with his finest mares.
The new breed ranged in size from fourteen hands—a hand measures four inches—to seventeen hands tall from ground to withers (the point where the base of the neck and top of the shoulder meet), with powerful muscles, especially in its hindquarters, to propel its stride. Bred for speed, it had a high-strung, fiery nature, which gave it the classification, in breeding parlance, of a “hot blood,” as opposed to a “cold blood” like the heavy animals used to support the armored knights and the horses that toiled in fields. A lithe, elegant animal with the grace of a gazelle and the endurance of a larger mammal, the thoroughbred was capable of carrying weight while running at high speeds.
During the last half of the eighteenth century hundreds of thoroughbred horses were shipped from England to the New World, where racing was in vogue and the demand for faster and faster horses was high. Horse racing had become so popular on the streets of colonial towns that it was considered a public nuisance. Soon tracks dotted the landscape from New York and Virginia to Maryland and the Carolinas. Even George Washington indulged; a 1772 diary entry shows that he had lost one-sixth of a pound at a track in Annapolis.
Thoroughbreds didn’t arrive on Kentucky’s high plateau until about 1800, thirty years after Daniel Boone’s first expedition to what was then the untamed sector of Virginia. It was Boone, on his 1769 trip, who might have brought the first horses to the region, though they were probably only pack animals. Still, it was Boone’s splendorous tales that lured others with better horses to the lush rolling savannas. Accounts of his two-year trip gushed with descriptions of a land covered with dark soil that grew an abundance of herbs, wild rye, and wild lettuce and that fed a bountiful supply of game, including turkey, deer, bear, and buffalo. There were walnut trees, blue ash, buckeyes, and the biggest oak trees he had ever seen.
Soon a rush of settlers from the Carolinas, Maryland, Virginia, and Pennsylvania crossed mountains and coal-filled valleys to settle on the high plateau. Most were from Virginia, where horsemen were by far the best among the New World’s breeders, a skill they took to the new land. And although none knew of the events of 450 million years before or were aware of the unique composition of the soil and grass, early annals show they did acknowledge the weather as a significant factor in raising their horses. Similar to parts of England and Ireland, the high plateau was temperate. Foals and yearlings were spared the harsh cold of the North and the even harsher heat of the South. And the new grass of spring came in as early as mid-March, at least a month before what most of the settlers were accustomed to. This meant the grass was edible by late March or early April, giving newborn foals early nourishment, a head start for building strong bones.
The first time on record that the grass was referred to as “the Bluegrass” was apparently in a 1795 ad in the Kentucky Gazette, selling a plantation “rich with the Bluegrass.”...
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