He and co-owner Ogden Mills "Dinny" Phipps, who also bred Orb, have never won the Preakness.
McGaughey has worked exclusively for Janney and Phipps for years, training the horses they breed.
Even without the building and its impending Platinum certification, Phipps has impressive green cred.
Phipps appears to be the first company to be publicly linked to the ploy.
Built in the 1950s by racing mavens Michel Phipps, Bull Hancock, Townsend Martin and C.
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Ms. Phipps, now a photography teacher, remembers driving around with the band's then-manager in the early 1980s.
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New York's Bessemer Trust, the successor to the Henry Phipps family office, opened to the public in 1974.
Simplified a bit, here's what happened: On Sept. 30, 1996 Phipps family trusts sold all of Phipps Inc.
He's not exactly a natural Dylan impersonator, but music writer Keith Phipps says that that's besides the point.
"We all know that putting on too much weight can be a problem, " said Belinda Phipps, its chief executive.
"We've tried to win it before, with some favorites, " said Ogden Mills Phipps.
Another sensor embedded in the bridge looks like a big fork, said Phipps.
So why didn't the Phipps trusts simply sell stock in Phipps Inc. to Gray and leave the corporate shell intact?
For cover art on their first album, lead singer Michael Stipe enlisted college friend Sandra-Lee Phipps to help take pictures.
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Yet despite the true-crime gossip and influx of cash-and-flash, names like Phipps, Boardman, Fanjul and Hanley still carry substantial weight.
The lesson, lost on Mr. Shippy and Ms. Phipps, is that technical supremacy divorced from sound strategic vision is no virtue.
But Belinda Phipps, the chief executive of the National Childbirth Trust, said the objections to the proposed new law were invalid.
Mr. Shippy and Ms. Phipps view the delivery of the Cell processor and the derivative Xbox chip as victories for both companies.
The Phipps and Janney families, by comparison, whose Orb won the Kentucky Derby, have been involved in the sport for nearly a century.
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He recalls that the Phipps deal was brought to the tribe by a shelter promoter, who presented legal opinions saying it would work.
Belinda Phipps, chief executive of the National Childbirth Trust, said a study carried out by the charity had come up with similar findings.
Also, if it bought Phipps Inc. stock, Gray could get stuck paying gains taxes on Phipps' unrealized appreciation if it sold down the road.
"Part of what makes a Dylan cover work is when you have something exciting and unexpected and not Dylanesque to draw on, " Phipps says.
The gardens, inhabited by plant life from different biomes around the world, is the main attraction, but they are only part of the Phipps story.
"Dylan lays down something that's so open to interpretation, " Phipps says.
Son of Malibu Moon owned by Stuart Janney and Phipps Stable.
Other witnesses included Andrew Elliott, Dr Naresh Chada and Rob Phipps.
Orb, owned by the Phipps Stable and Stuart Janney III, takes a five-race winning streak into the Preakness, where he will face what look to be nine challengers.
Family offices serving the Whittier, Phipps and Pitcairn fortunes have started managing fortunes for other families, thus spreading the costs over a wider base and giving the offices greater investment clout.
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