California Retirement Management Account

CARMA: Holding Its Own in Tough Economic Climate

Last year when facing a massive budget shortfall, the umbrella organization overseeing the fate of California's retired racehorses dodged a metaphorical projectile. "We were just so overwhelmed by the support we got for CARMAthon by the racing community," Lucinda Lovitt, executive director of the California Retirement Management Account (CARMA), said of a fundraising event held last year at Del Mar on Pacific Classic day. "Everybody on the board--especially those on the event committee--was blown away." Due to the fact that CARMA is primarily funded from purse contributions by owners, trainers...

[ Read More ]