by Nancy Jaffer | Jul 31, 2023
Congratulations to Kim Herslow for winning the 3-star Intermediate I and I-1 Freestyle during Dressage at Devon in 2021.
Wait–what? 2021? This is not a news flash that got buried by mistake nearly two years ago.
This month, Ailene Cascio, owner of Herslow’s mount, Elvis HI, finally received the redistributed prize money for her horse’s 2021 victories at the Pennsylvania show. Herslow had finished second in both competitions, but was elevated to first place when Cesar Parra on Belle Ami was disqualified and ordered to return the prize money and ribbons.
Cesar Parra and Belle Ami at the 2021 Dressage at Devon. (Photo © 2021 by Nancy Jaffer)
That was part of an agreement with the FEI (international equestrian federation) connected to an “Equine Controlled Medication Rule Violation (Presence of Benzocaine in the Horse’s Sample).”
Belle Ami also tested positive for caffeine, but Parra’s caffeine matter and two unrelated cases in show jumping were closed, according to an FEI report on 12 Atypical Findings (ATFs). The FEI stated, “The majority (9 out of 12) of the ATFs involved Prohibited Substances which are generally considered more likely to have been ingested by horses for a purpose other than the enhancement of sport performance, for example, through a contaminated feed source.”
Parra thought the presence of caffeine might be attributed to a driver who had spilled a Starbucks order on the horse’s hay. He pointed out a stimulant like caffeine is counter-intuitive, because mounts should be calm in the arena.
A member of the 2015 U.S. gold medal dressage team at the Pan American Games in Toronto, Herslow finished second in the Prix St. Georges at Devon 2021 behind Donna Gatchell and Reflection. Parra came in third with Belle Ami and was disqualified from that class as well.
Herslow missed being able to ride the I-1 and I-1 Freestyle victory passes on Elvis in front of the crowd at the prestigious autumn show (Parra got that honor), because of course, medication disqualifications are never immediate. What made it worse for her, however, was the long delay in receiving the redistributed prize money.
“I was wronged. I feel there is no accountability,” said Herslow, who now owns Elvis in partnership with Cascio.
She only found out about the disqualification because Steven Tarshis, a Flemington, N.J., attorney who is representing Belle Ami’s owner in an unrelated lawsuit involving Parra, called to tell her he had learned of it after he sought an appraisal of the mare for his client.
Kim Herslow and Elvis HI at Devon 2021. (Photo © 2021 by Nancy Jaffer)
When he had his expert check with the FEI on the horse’s show history for the appraisal, he was told about the Devon disqualification. Since Herslow is a friend and a client, Tarshis passed the information on to her.
The FEI provided Tarshis with a copy of a notification it sent to Parra on December 9, 2021, advising the rider that he had been disqualified from the classes in which he competed on the mare at the show two months earlier.
The FEI communication stated that if Parra accepted the penalty of returning all the prize money ($2,890), the ribbons and other items he received in the three classes at Devon, paid a fine of 1,500 Swiss Francs and costs of 1,000 Swiss Francs to the FEI, he would not be suspended. Parra noted he didn’t want to dispute the finding of a “minimal” amount of Benzocaine, and the FEI said it could “fast-track” the matter if he complied with the penalty. He mentioned he had never been sanctioned by the FEI, and once the process was completed, “I totally forgot about it” in terms of returning prize money to the show.
He said he never got anything from USEF that would have reminded him, “but I don’t think it was anybody’s bad intention.
“Time went by and then we remembered. So I called Monica (Fitzgerald, the Devon show secretary).” At first she said she didn’t know anything about it, then told him, “Let me find out.”
When she did, “I just sent them a check and that was it,” commented Parra, who rode on the 2011 U.S. dressage gold medal Pan Am team in Guadalajara, Mexico. He also competed for his native Colombia at the 2004 Olympics in Athens, as well as on its silver medal team in the 1999 Pan American Games in Winnipeg.
Belle Ami’s owner was concerned that her horse had a sore in her mouth and shouldn’t go to Dressage at Devon, according to Tarshis, but Parra said the sore had cleared up prior to the show. He mentioned the benzocaine was in a remedy one of his grooms sprayed on her arm for a skin irritation, and he wasn’t sure how it entered the horse’s system. He suggested it could have gotten on a thermometer when the horse’s temperature was taken, but emphasized there was no ulterior motive.
“What’s the point to win something if you are cheating? It doesn’t make any sense,” said Parra.
He believed the groom was using Dermoplast, listed generically as benzocaine. According to the Mayo Clinic website, benzocaine, available without a prescription, is used to relieve pain and irritation caused by sore throat, sore mouth or canker sores. On the container, Dermoplast is recommended for minor cuts, scrapes and burns.
When Tarshis contacted the U.S. Equestrian Federation about Parra’s status, he said, “At first, they told me that they had no record of his disqualification. I made them look further, and they were able to confirm that they had been notified. The next day, the USEF show records that are listed on their website (were) revised to show Cesar’s disqualification.”
Herslow, who runs Upper Creek Farm in Stockton, N.J., pointed out, “No one has called me to apologize that it took almost two years to get this reconciled.”
Elvis HI and Kim Herslow in the Dixon Oval at Devon. (Photo © 2021 by Nancy Jaffer)
That happened, “only because it came up from a separate lawsuit. My owner was short over $1,000 ($1,065), which finally just got paid from Devon.” The show also is sending ribbons and replica trophies to Herslow and will have her name engraved on the perpetual trophy.
“This shouldn’t have taken so long,” a USEF spokesperson stated about the prize money redistribution, maintaining the show had been notified about the disqualification in a timely manner.
Anne Moss, the show’s president, knew nothing of the Parra situation when she took the post in 2022. But as soon as she learned that money needed to be redistributed, the wheels went into motion. She confirmed the show received a check for the prize money from Parra this month.
Until last week, when this website asked him about the disqualification, Parra’s own website, Dr Cesar Parra Dressage Sport (he had been a practicing dentist, hence the dr. title) still listed Belle Ami as the winner of the I-1 and I-1 Freestyle. That information was deleted by last weekend. Parra said he personally does not work on the website and it is handled by an employe.
by Nancy Jaffer | Jul 30, 2023
Peggy Augustus, as well-known in the world of horse showing as she was in thoroughbred racing, died Sunday at her Old Keswick Farm in Charlottesville, Va. She was 90.
A member of the National Show Hunter Hall of Fame and the Virginia Horse Show Hall of Fame, she was named a Living Legend of the National Horse Show in 1996.
Born in Cleveland, she moved to Virginia in 1950. She was an active owner, trainer and show hunter
rider who competed against professionals and won major championships throughout the U.S. and Canada, including the National Horse Show at Madison Square Garden, the Devon Horse Show, the Royal Winter Fair, the Pennsylvania National and Virginia’s top four horse shows of her day: Hot Springs, Keswick, Deep Run, and
Warrenton.
Although her Sutton Place and Little Sailor, who she called “the best jumper I ever rode” were well-known stars of her string, her most famous mount was Waiting Home, a thoroughbred by Wait-A-Bit out of Marching Home, by John P. Grier.
Because it started to rain when Ms. Augustus went to try Waiting Home, she bought the blaze-faced chestnut without ever riding him.
Peggy Augustus and Waiting Home at the 1952 National Horse Show. (Photo by Freudy)
When she finally did get on him, he started bucking, but she stuck to him and they reached rapprochement. In 1952, he was conformation champion at North Shore, Piping Rock and the National at Madison Square Garden. He did have a stop in him, however, and he either won or he refused.
After the 1957 season, at the age of 10, Waiting Home was informally retired to Old Keswick. The Model championship trophy at the Keswick Horse Show is a statue of Ms. Augustus in her shadbelly jumping Waiting Home.
Jimmy Lee, president of the National Show Hunter Hall of Fame, called Ms. Augustus “a brilliant rider,” noting she was ” a wonderful horsewoman, a pillar of our sport,” who rode against such famous male riders of her day as Cappy Smith and Raymond Burke.
“She beat them at the biggest shows,” he recalled, noting her barn was run by Kenny Wheeler, who went on to be a top trainer and rider. Jimmy worked for Ms. Augustus and her ex-husband, Tom Lavery, at the farm that is now his home base.
On the racing scene, Ms. Augustus bred Eclipse Award winners Stellar Wind (Curlin) and Johnny D. (Stage
Door Johnny).
One of her former trainers, Bill Hirsch Jr., called her “a great lady, just one of the best. The thing I remember most about her was that, unlike most owners, she knew how to win and she knew how to lose. A lot of them
don’t know how to lose. She never skimped on anything.
“Whatever her horses needed, no matter the cost or the effort it took to get something to me, she got it done. Her number one priority was always her horses. She was just a fabulous lady.”
In 2008, she told the website virginialiving.com, that she had been interested in racing since she was 10 years old and started compiling statistics on horses running at the Chicago tracks.Before she was old enough to attend a day at the track, her mother, Elizabeth, would sneak her into the races. If she picked less than four winners, she confided, it was a bad day.
When her father died in 1963, Ms. Augustus moved to Old Keswick and carried on the breeding business with her mother under the name Keswick Stables. According to Virginia Living, Ms. Augustus bred 48 stakes winners. Stellar Wind, who she bred along with Stonestreet Thoroughbred Holdings, was somewhat of a last hurrah.
Sold for just $40,000 at the 2013 Fasig-Tipton Saratoga sale, the mare went on to win six Grade I races and was named champion 3-year-old filly in 2015. Stellar Wind was the last offspring of the last mare bred by Keswick Stables.
Ms. Augustus also enjoyed great success at the sales. In 1984, she sold a yearling colt by Roberto at Fasig-Tipton Saratoga to Hugh de Burgh, representing Maktoum bin Rashid al Maktoum, for $4 million. It was the second highest price for a horse sold at that sale.
According to her profile on the Virginia Sports Hall of Fame website, Ms. Augustus also sold a filly at Saratoga for $2.1 million. She is the only person in the history of the Saratoga sales to have bred and sold five yearlings who went on to win more than a million dollars.
by Nancy Jaffer | Jul 27, 2023
Wayne Barr Jr., 59, suffered a fatal accident when he was unseated in a training jumper class at the Saratoga Summer Celebration Horse Show last weekend.
During the tiebreaker at the New York competition on Saturday, his horse, Pacco, put in an awkward jump that got the rider off balance. He “tried to save the fall” and hung on for several strides, but wound up dropping in front of his horse, who tripped and fell, but did not land on his rider according to Mr. Barr’s trainer, Marcia Kulak. The horse was uninjured.
“It was a very freak accident because Wayne was a very competent rider, riding at a very nominal level for where he is and for the horse’s abilities,” said Marcia.
Mr. Barr was taken by ambulance to Albany Medical Center, where he died. Autopsy results have not been released.
The CEO of Innovate Corp. was a longtime devoted horseman.
“Wayne was totally committed and loved every moment of it,” said Marcia.
“I’m not sure I’ve had another person ride in my career that was as into it, and just totally loved being part of our team and riding and just the involvement. He was just as comfortable behind a wheelbarrow and a pitchfork as he was on the back of a horse,” Marcia observed.
“Those kind of people don’t come along very often. It was a great ride. We really enjoyed the whole process.”
Wayne Barr was a gritty competitor who loved his sport. (Photo courtesy Kulak Equestrian)
Mr. Barr grew up riding Welsh ponies for Mollie Butler in Ithaca, N.Y., and continued to ride when time allowed throughout his adult life. After many years of hard work and business success, he fulfilled his lifelong dream of getting back into horses three years ago, Marcia noted.
The late Wayne Barr Jr.
“Wayne could have ridden with any professional and I am honored that he chose our team. He was a dedicated, exceptional student and a very good athlete who was totally immersed in our program,” she commented.
The U.S. Equestrian Federation issued a statement offering condolences to Mr. Barr’s family, while emphasizing the organization “takes every fall very seriously and will be reviewing the accident thoroughly to learn how we may further minimize risk and increase safety in equestrian sport.”
The federation noted, “Safety is paramount for USEF and integral to our mission. Falls that potentially involve a serious injury are currently required to be reported immediately to USEF.”
Beyond that, the federation recently announced a new requirement to collect uniform and actionable fall data across all levels of competition. Beginning in December 2023, it will require all falls of horse and all falls of riders to be reported in class results at each competition.
“This will give us additional data to inform change, evaluate risk and provide greater insight to further improve safety in the future,” according to USEF.
Marcia noted how devoted Mr. Barr was to his sport
“He patiently committed to investing in quality horses and traveled from his home in North Carolina, or wherever he happened to be working around the country, to train and show regularly. Wayne always came to the barn with a beautiful smile and an arm full of goodies for all the staff, which quickly endeared him to the entire Kulak Equestrian family. Wayne made our world a better place with his kind, intelligent and exceptionally generous nature.”
As Marcia concluded, “There are no words to adequately express how we feel. We can take some solace in knowing that Wayne loved his family and his equestrian endeavors with his horses. He
was truly a special gentleman, and his passing has left an enormous hole in our hearts,”
In addition to his sons, Thomas and Spencer, Mr. Barr is survived by mother, Patricia (Byrne); his brothers, Kevin, Brian (Leslie) and Trevor (Belinda); his former wife, Rita Barr, his dog, Quinn and his horses,
A funeral was scheduled for Saturday, July 29, but his friends are hoping to plan a celebration of his life in Wellington, Fla., at a later date.
Those wishing to make a contribution in his memory may do so at https://www.justworldinternational.org/donate/
Mr. Barr also was devoted to a project involved with the Royal Poinciana Playhouse, undergoing renovation in Palm Beach, Fla. It has been closed for nearly 20 years, but a foundation is being started to make it accessible to all, including under-served children, who would have an opportunity to experience the arts there. Those who wish to make a contribution once the foundation is set up should keep checking on line.
by Nancy Jaffer | Jul 25, 2023
More helmet and headgear options will be allowed for competitors at U.S. Equestrian Federation competitions beginning Aug. 1. The date originally was Dec. 1, but it has been changed so competitors can take advantage of the change quickly, rather than waiting four months.
“The additional testing standards are comparable to or exceed the ASTM F1163/SEI standard and will allow more helmet options to competitors at USEF national competitions,” stated Dr. Stephanie Bonin, chair of the ASTM Equestrian Helmet Task Force. She is principal and senior biochemical engineer at MEA Forensic Engineers & Scientists.
Additionally, the list of accepted international testing standards and corresponding certified quality control labels for equestrian protective headgear have been posted on the USEF website rather than within the rule book to allow for future updates to the list without having to undergo the timeline associated with the rule change process.
Click here to see the list of international standards for protective headgear being accepted by USEF as of Aug. 1.
Questions about this rule change or the types of protective headgear approved for use at USEF licensed competitions may be directed to Katlynn Wilbers at KWilbers@usef.org.
by Nancy Jaffer | Jul 21, 2023
Following two nights of meetings on a project involving rezoning part of the Wellington, Florida, Equestrian Preserve — an application linked to expansion of the Wellington International showgrounds — the Village Zoning, Planning and Adjustment board put off a vote until next month.
Twenty-seven people spoke on the contentious subject Thursday in the public hearing portion of the board’s second session on Thursday. Board Vice Chairman John Bowers read the names and opinions of dozens of others from comment cards presented to the panel. By the time he finished, it was midnight before closing statements from the developer and “interested parties” could have been heard.
Considering the late hour, the zoning board decided to put off that part of the process and a vote until the panel’s next regular meeting on Aug. 16. That is nearly two weeks before the fate of the project could be decided at a Village Council meeting tentatively scheduled for Aug. 28 (and Aug. 29, if necessary).
Removing acreage from the Equestrian Preserve in the “Winter Equestrian Capital of the World” requires a super-majority of four of the five council members. Both the zoning board and the Equestrian Preserve Committee are advisory groups whose input is used by the council in making a decision. After two nights of hearings last month, the Preserve committee members unanimously voted against the request to take land from the Preserve.
Zoning board members started their second meeting of the week (click here to read a story on the first meeting) with questions for Village zoning and planning staff; Michael Stone, president of Wellington International, which runs the showgrounds, and Doug McMahon, managing director of developer Tavistock Group, co-founder of the Nexus Luxury Collection.
The applications under discussion for The Wellington North & South are being put forward by Wellington Lifestyle Partners (WLP), whose executive vice president and partner is Paige Bellissimo. She is the daughter of Mark Bellisimo, who made his name in the horse world as the point man for Wellington Equestrian Partners in the 2007 purchase of the showgrounds that is home to the Winter Equestrian Festival. Mark Bellissimo also was involved in entities that bought much of the land in the vicinity of the showgrounds, including the 90 acres needed for its expansion in the South portion of the project.
The Populous architectural firm, which will design the new Wellington International showgrounds, envisions this setting as the entrance.
WLP calls its project the Wellington Equestrian and Golf Club. (A golf course was purchased in April for $35 million as a key element of the resort club community). The Partners are seeking permission to construct 400 dwellings, including single-family homes, condos and townhouses, as well as small farms and a fitness/wellness center in addition to sports and recreation facilities.
WLP is requesting that 95.6 acres be removed from the protected Equestrian Preserve property in the North section, now the home of the Adequan Global Dressage Festival at Equestrian Village, in order to construct luxury housing there.
During Thursday’s hearing, it was mentioned that if the zoning change on that North parcel property is approved, no housing construction could proceed until the expanded showgrounds on the South parcel is ready for use. Zoning for the land to be added to the showgrounds must be changed from residential to commercial equestrian recreation.
Dressage competition is scheduled to continue at Equestrian Village at least through the 2024 winter season.
Michael Stone and Mark Bellissimo in 2007 by the old polo stadium at what would become the home of dressage at Equestrian Village in the Equestrian Preserve.( Photo © 2007 by Nancy Jaffer)
Wellington Lifestyle Partners, which McMahon serves as CEO, is not involved in the showgrounds expansion. That will be undertaken by the Global Equestrian Group, owner of Wellington International. But GEG lacks a signed contract to buy the necessary land for that expansion from WLP, which also seeks to change the land use and master plan for its property in the South parcel.
The tenuous connection between WLP’s projects and the showgrounds expansion has been difficult to understand for many, as well as why WLP doesn’t just sell land for the showgrounds to Wellington International right now. It has even been accused by Equestrian Preserve Committee Chairperson Jane Cleveland of holding the land sale “hostage” in order to get its zoning requests fulfilled.
But Thursday night, a new idea was presented, the prospect of WLP and Wellington International becoming co-applicants on the South parcel to coordinate development. Wellington International also is seeking rezoning there, to equestrian commercial for the acreage that would become part of the expanded showgrounds.
Eventually, dressage would move to the Wellington International site nearby on Pierson Road when the entire showgrounds is expanded over another 90 acres, land that is part of approximately 269 acres that is the South segment of the Wellington Lifestyle Partners’ application.
The timeline for completion of the showgrounds is uncertain, but Paige Bellissimo told the board, “We don’t want to leave dressage or the (adjacent) derby field (where hunters and jumpers compete) high and dry” without a home at Equestrian Village if the new showgrounds is not finished.
“So this is our commitment on paper to not leaving them orphaned. We really want to show that we’re partners in this and we’re committed to the showgrounds as well.”
That enlarged Wellington International would have a jumper stadium and new indoor and outdoor arenas on the additional acreage GEG wants to buy, while the land currently used by the showgrounds would host only hunters and dressage. Stone estimated that during the Winter Equestrian Festival, the rearrangement of disciplines means shows will include 1,200 hunters and 300 dressage horse on the site of the current showgrounds. That is a total of 1,500 horses in an area that now serves 3,000, including the jumpers, which means the cramped circumstances would be alleviated as the jumpers move off to their own venue on the showgrounds’ new, bigger footprint.
Dressage riders rarely have had the chance to ride in the main arena at Wellington International, but plans call for them to be based there once the new showgrounds is built. (Photo © 2022 by Nancy Jaffer)
Much of the conversation recently about the importance of expanding the showgrounds goes beyond crowding at the site, or the lack of parking, need for better maintenance and the inconvenience of moving catering and equipment between Wellington International and Equestrian Village.
New high-end facilities in Ocala and Sarasota are offering competition to Wellington; not only in attracting riders and residents, but also bringing in sponsors and vendors. The current showgrounds could be viewed as outdated. Stone pointed out during the meeting that the VIP pavilion at Wellington International is basically under a tent because of regulations prohibiting a permanent building. That means the facilities are not attractive to sponsors, who don’t want clients coming to a venue lacking air conditioning and other amenities.
Some at the meeting who objected to more housing cited traffic issues, although zoning staffers downplayed what effect development would have in that area, and suggested alternate entrances to the expanded showgrounds might improve the situation. The biggest issue in regard to traffic, the bottleneck at the intersection of Pierson and South Shore Boulevard could be solved with expanded and additional turning lanes, rather than road widening, it was suggested.
While there seems to be general agreement that expanding the showgrounds would be a good thing for Wellington’s identity, most of those who spoke at Thursday’s meeting or submitted comment cards are against removing acreage from the Preserve to insure that the showgrounds can obtain additional acreage.That shows the difficulty of making land for a new showgrounds on the South parcel available only if the North parcel is taken out of the preserve and rezoned.
A petition against removing Equestrian Preserve land and amending zoning to allow an increase in residential density has gotten nearly 5,300 signatures.
Resident Mark Elie said 2016 traffic studies were used in evaluating what would happen with an influx of additonal cars due to increased development
“This is going to destroy what our lifestyle is like. We do not need more homes causing more traffic,” he commented.
Farm owner Michael Whitlow told board members they have “an obligation to preserve the Preserve. Once you start chipping away at the Preserve, we’re going to have nothing but development forever and ever.”
Several people speaking in support of the expansion did not mention the loss of land from the Preserve, but rather, zeroed in on the importance of keeping up with the times for the health of the equestrian industry.
Entrepreneur Michael Cruciotti, the brother of show jumper Kelli Cruciotti Vanderveen, said he and his wife moved to Wellington six years ago for the horse show. He organized Equestrians for Wellington, which got more than 500 signatures this week from trainers, grooms, riders and others in the industry supporting the new plan. He called the horse show their “lifeblood.”
“Unless the horse show is allowed to expand, we will not see this investment continue into our community,” he said, citing the presence of “better options out there right now,” mentioning the World Equestrian Center in Ocala with its 5-star hotel and multitude of restaurants.
“If the horse show is not able to expand,” he cautioned, “I fear we may not have a horse show in the next five to 10 years.”
by Nancy Jaffer | Jul 19, 2023
Managing risk when investing in horses is always tricky. The fragility of these animals and the whims of fate too often can result in a devastating outcome for owners, riders and trainers.
Catherine Haddad Staller, based in Califon, N.J., and Wellington, Fla., knows well the ups and downs of the horse business. Twice the U.S. dressage team’s reserve rider for the World Equestrian Games, she has had many other accomplishments during more than three decades of being active in the industry.
Her most recent success was the selection of her home-bred seven-year-old Hanoverian, Vianne, to compete in the FEI World Breeding Championship for Young Horses in the Netherlands next month. Doing the riding will be 23-year-old Hope Beerling, an Australian being trained by Catherine. Vianne is the only American-bred horse representing the U.S. that is participating in the competition.
Vianne takes a good look at the flag she will be representing at the Young Horse Championships with Hope Beerling. (Photo © 2023 by Nancy Jaffer)
Along with her achievements, Catherine, 59, also has dealt with her share of crushing disappointments over the years, and had to figure out a way of coping with them.
What she learned has been instilled in the development of NorCordia, an innovative company started in 2021 whose platform is geared to “helping our horses find their best partners” and enabling those who invest in the concept to seek a profit. It is the “first sporthorse portfolio investment company,” Catherine explained.
The Nor in NorCordia is for Nordic, which she calls “a representation of value,” (her partners are Danish), while Cordia refers to “the assurance of heartstrings,” a commitment to caring in connection with the horses.
The company initially offers portfolios of 10 to 12 horses, and each runs for three years. When a horse is sold during that period, it is replaced in the portfolio. The company has the ability to turn over anywhere from 18 to 24 horses in one portfolio. Eventually, replacement is stopped, so at the end of the three years, the plan is for the portfolio to be empty so investors can collect, though Catherine is careful to emphasize that investment carries no guarantee there will be a profit.
The trainer added, however, she believes “something cataclysmic would have to happen to not make a profit with this model.”
Explaining how the company manages risk, Catherine explained, “If something goes wrong with one horse, we can make up the loss by selling other horses. Because we place the horses with professionals in (both) Europe and the U.S., we never have one complete portfolio with one trainer.”
Having the NorCordia horses at several stables is a way to reduce risk in the case of disease, fire or natural disasters, for instance. The horses are mostly dressage specialists, with some show jumpers in the mix.
The first portfolio was started with a capital investment of 500,000 Euros. The second was started with 1 million Euros and had 10 shares at 100,000 Euros each sold to investors by February 2023. Portfolio three was started with 2.5 million Euros.
While Catherine and her partners want to sell horses, of course, there is another priority.
“For me,” she said, “the number one thing is horse welfare. We have to sell horses, but I said to all three of my partners, `We will be a company that gives our horses the best care, the best nutrition, the best management and the best training. We will take every precaution we can that when one of our horses leaves the stable, it’s going to the best partner, and a partner for life.’ That’s why our motto is `Horses for Life.’ ”
While she knows many ethical horse dealers, she’s also known some in the business who weren’t.
“I want to show the world how compassionately you can put horses on the market and send them on to their next partners.”
The idea is to “create training in a horse that makes him valuable to someone.”
The people who buy shares, however, aren’t buying horses for themselves. Instead, they’re involved in an investment that they hope results in a profit at the end of the three-year term. When the first horse in a portfolio is sold, the money goes to pay for expenses and care for the horses. When the second horse is sold, the company invests in another horse.
Catherine Haddad with members of her team Hope Beerling and Bella Nye. (Photo © 2023 by Nancy Jaffer)
Catherine’s longtime friend Hope Greenfield, who was involved with finance before she retired, had to be convinced to invest in the second portfolio.
“I said ‘No, I don’t want to be investing in horses anymore,'” recalled Hope, who has owned eventing and dressage horses over the years. She personally owns four horses, but was wary of getting involved with anything horse-related that wasn’t for her use.
“I know it’s a risk,” she said about the investment, pointing out, “I’m a fixed income type of person.”
But her friend, June Brody, who like Hope had been a New Jersey stable owner, wanted to split the fee for a NorCordia share after talking to her financial advisor. He examined the concept and thought it looked good. Hope was impressed by his assessment.
They finally decided to collaborate on one portfolio share in a venture they’re calling LOL (for Little Old Ladies) Adventure. The pair enjoys watching the portfolio horses compete, though they have no personal or emotional involvement with them.
“It’s fun,” Hope said.
“It’s not like investing in Berkshire Hathaway.”
NorCordia’s profile will be raised at Dressage at Devon which runs Sept. 26-Oct. 1, presented by Kingsview Partners. A highlight of the Pennsylvania show, the Master Class Sept. 28 featuring Danish Olympic star Cathrine Laudrup-Dufour, will be presented by NorCordia. Last year’s class, with U.S. Olympic team silver medalist Sabine Schut-Kery doing the teaching, was very popular with spectators, who filled the stands looking for tips that perhaps could improve their own horses and riding.
