By Jen Lynch
The Triple Crown. One of the most notable and famous horse race, consisting of three legs, requiring the winner to take first at all three to win entirely. The second leg of the race occurs in Baltimore, Maryland at Pimlico Race Course, known better to the public as Preakness.
This Maryland heritage has recently been threatened of losing it's history as the second leg; Pimlico has been confronted with possible bankruptcy. Magna Entertainment's decision to seek bankruptcy protection last month and sell many of its assets, one being the race course. State officials have already made moves to avoid losing this culturally significant sporting event. With "Save the Preakness" badges on their jackets, officials moved suggested legislation quickly through government, with Gov. O'Malley signing legislation giving Maryland eminent domain rights over the Preakness Stakes horse race.
"Governor O'Malley has worked with the leaders of the General Assembly to ensure that Maryland's rich history of horse racing -- begun with the first running of the Preakness in 1873 -- remains in the State," Adamec said. "This includes legislation that will expand the tools available to the state to keep the Preakness in Maryland. . . . It is the Governor's firm belief that Maryland would not be Maryland without the Preakness."
The Preakness also contributes hundreds of jobs and an influx of economic activity and profit in Baltimore. This situation demonstrates how bankruptcy of a parent or owning company can effect many smaller companies, or in this case, a Maryland tradition.
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