Porter was buoyed by the 2002 election of Gov. Robert L. Ehrlich Jr., a Republican who promised a slots-based boost to Maryland's horse industry. "Everything looked like slots were coming in," he said.
Porter had borrowed heavily to finance his trucks and vans. To manage the declining revenue, he traded in two older vehicles for a newer one, hoping to also save on maintenance costs. "By 2005, I was down to one tractor-trailer and probably three straight trucks," Porter said. "And down to just about three employees."
As for the house, "we just kept borrowing on it to stay afloat," he said. "Everything was based on: 'Slots are coming in, it's going to be a gold rush.' That's the only reason people in Maryland stayed here ... the smart ones left. The rest of us," he added, his voice trailing off, "we lived here all of our lives."
Porter's real problems began in 2006, the year O'Malley, a Democrat, defeated Ehrlich. The small business owner couldn't make some debt payments and found the credit card companies unyielding in their demands.
He chose to maintain the house payments, and fend off the remaining debts in an ad hoc fashion. "It wasn't fun," he said. "You're living day-to-day with the money, and whoever yelled the loudest got it. You try not to let anyone else know [you have a little money] because as soon as you say anything, the vultures flock to the door."
Porter's marriage has survived the "big strain" of bankruptcy, and his wife's income as a teacher allowed them to rent another home in the same Westminster school district. Their children, aged 13, 15 and 16, "are starting to understand" the financial trauma their family is undergoing, Porter said.
"If slots had happened during the Ehrlich administration, Tim would probably still be in business," said Litz, who calls Porter a "very frugal guy" who just got hit by bad timing: the failure of slots to materialize sooner, skyrocketing fuel prices in a gas-sensitive industry and dependence on clients' willingness to part with disposable income.
After anxious months of evading creditors and dodging lawsuits, Porter is relieved at least to be back on the road, hauling horses - even if it is as a hired man for a Pennsylvania-based company.
Porter says he plans to listen to the Preakness Stakes from the road. He doubts he'll ever start up another business, but has no plans to quit the business of moving horses around the country. "I still enjoy the work," he said. "This is what I know and love."
