Ogden Mills Phipps: Good morning. On almost any day, the headlines in Thoroughbred trade publications could lead one to the conclusion that this industry's best days are behind us.

Use of illegal medications, limitations in our wagering systems, illegal betting and unregulated rebate shops, equine injuries and breakdowns — high-profile ones at that — and, of course, uncertainty over the future course of Thoroughbred racing in New York, for so long the center of the racing universe.

Those are only a few of the problems we face but they are critical problems, problems that need remedies, sooner rather than later.

They are also the issues you will hear about in detail today from people who are working hard to find appropriate solutions. We are grateful to each of them for their participation in today's Round Table Conference.

The Jockey Club continuously strives to improve conditions in the industry, and Jim Gagliano, our executive vice president and chief administrative officer, will tell us about some of The Jockey Club's recent activities.

Jim…