Magna Entertainment's Latest Hired Gun -- Meet Paul Cellucci

Mr. Cellucci and a spokesman for Magna Entertainment did not return phone calls yesterday to confirm the appointment. During an interview with The Globe and Mail this week Mr. Cellucci indicated he had a new job, but declined to discuss details. "My new duties will bring me to Canada on a regular basis," he said. The arrival of such a well-connected political celebrity as Mr. Cellucci is a surprising coup for a company that has been hobbled by mounting losses, shareholder controversy over a privatization bid that failed and an exodus of executives and directors. Former Newfoundland premier Brian Tobin resigned as Magna Entertainment's chief executive officer last summer. He was followed by former Ontario premier Bill Davis, who resigned as director of Magna Entertainment and MI Developments, an affiliated real estate company. Mr. Cellucci's arrival gives Magna Entertainment an entrée into some of the most powerful political circles in the United States and Canada. He is a former Republican governor of Massachusetts and is close to U.S. President George W. Bush. During his tenure in Canada, he was an outspoken advocate of the Bush administration's policies, often ruffling feathers with his call for more spending by Ottawa on its military. He will be joining Magna Entertainment at a time when shareholders are frustrated with its continuing losses and recent management turmoil... www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20050318/RMAGNA18/TPBusiness/TopStories [Proofreader's note: this article was edited for spelling and typos on March 21, 2005]