Answer 5 questions about Roosevelt Raceway

timer Asked: Feb 4th, 2019
account_balance_wallet $25

Question Description

1. What ethical, moral and legal issues, if any, are raised by this fact pattern?

2. What parties were affected by the above events?

3. What duties, if any, are owed, and by whom, to the effected parties?

4. A stated above, no criminal charges were ever brought against the owners of the track. Would you have done what they did?

5. Do you think their actions were ethical?

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Tutor Answer

School: Duke University


Surname 1

Name of student
Professor’s name
Course title
Roosevelt Raceway
1. What ethical, moral and legal issues, if any, are raised by this fact pattern?
There are definitely some ethical and legal concerns in the acquisition, management, and sale
of the Roosevelt Raceway. For one, the group that acquired the race track from Gulf and Western
Industries consisted of the former president of the race track while it was still under the
ownership of Gulf and Western. This was therefore highly irregular since the president was privy
to a lot of insider information which gave him an advantage during bidding. It, therefore, seems
as though the bidding was all for show and a winner had already been determined.
Once Roosevelt Raceway Associates (RRA) took over the raceway with a bond issue of 56.5
from Hempstead Industrial Development Agency. They run the raceway to the ground, paid their
debt and ended up making...

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