The Quebec breeding industry has been horribly wounded by the "privatization gone bad" of Quebec's four racetracks, breeder Michael Perzow said today at a parliamentary hearing in Quebec City.

"Our investments are dissipating with each passing day at a tragic rate," said Perzow, who operates Oka Valley Standardbreds. "This will be a disaster for many families now exhausting their savings."

Since Attractions Hippiques went into creditor protection in late June, there's been no live racing at Hippodrome de Montreal, which was to be the site of most Quebec sires stakes.

No stakes races means no interest in Quebec-bred horses, with two major yearling auctions still due to proceed this fall, breeder Alain Vallieres told the hearing into the Quebec government's deal to privatize its four racetracks in 2005.

"Who's going to buy a Quebec-bred yearling? The base of the industry has been destroyed," he said.

"It's going to be a total fiasco," added breeder Pierre Guillemette.

Guillemette said Quebec's broodmare band has shrunk by half this year. "I myself sold six at Flamboro on the weekend. I'm in liquidation mode, like all our breeders. It's not one past midnight, it's later than that."

He estimated at more than 200 the number of racehorse breeders in Quebec.

(Paul Delean)