New York Red Bulls Eye Elusive Trophy

2013-9-26-new-york-red-bulls

Listen, Thierry Henry is one of the most passionate and fiery people I’ve ever been associated with. And unless you guys have been under a rock for the last 13 years, I’m pretty passionate and lose my head a lot, too,” Petke said. “Very normal stuff; there’s really nothing to report. It happens all over the world.” Henry did not comment on the fight, but he recorded two goals and one assist in the next three games. Clinching a playoff berth Sunday could overshadow the shouting match, but nothing less than an MLS Cup victory this year will erase the team’s long history of underachieving. One of MLS’ original clubs, the Red Bulls formerly called MetroStars have never won an MLS Cup championship. In fact, of the nine original MLS teams, just the Red Bulls have never won one of the three major North American trophies: MLS Cup, Supporters Shield, U.S. Open Cup. It hasn’t been for a lack of trying. The Red Bulls regularly outspend their rivals, and this season they sit atop the payroll list with $9.98 million in total salaries. Over the years, the organization has fielded more World Cup winners than any other MLS organization, including Henry, Germany’s Lothar Matthaus, Brazil’s Branco and France’s Youri Djorkaeff. The Red Bulls face a short-handed Sounders team, with Seattle’s designated player Clint Dempsey (pulled hamstring) unlikely to start.

New York seeks delay of costly FERC power capacity zone decision

In basic terms, capacity markets pay generators to help keep existing power plants in service and build new units in order to maintain system reliability. Demand response providers who agree to reduce power usage when needed can also participate in capacity markets. The new zone will include the current NYISO zones G, H and I in the Lower Hudson Valley and zone J in New York City. The PSC and NYPA said the state is already working on New York Governor Andrew Cuomo’s so-called Energy Highway initiative to expand the state’s transmission resources to bring more power from upstate New York to the Lower Hudson Valley and New York City area. The PSC and NYPA said the Energy Highway could negate the need for FERC to offer financial incentives to build more power plants downstate. “We strongly urged FERC to reconsider its decision to create a new capacity zone in New York, which it says is needed to build more power plants downstate to alleviate demand for electricity,” PSC Chairwoman Audrey Zibelman said in the release. “We are well aware of the downstate demand for electricity…However, in its decision, FERC did not take into consideration the ongoing initiatives included in the Governor’s Energy Highway,” Zibelman said. The biggest power companies in New York include units of Consolidated Edison Inc, National Grid Plc, Iberdrola SA, Entergy Corp, TransCanada Corp and NRG Energy Inc. COSTS TO RISE The PSC said if FERC’s plan goes into effect, typical residential customers in the Lower Hudson Valley could see monthly bill increases ranging from 5 percent to almost 10 percent, depending on the utility. The increases for industrial and commercial customers could be even higher, the PSC said. “Creation of a permanent new capacity zone undermines the Governor’s Energy Highway initiatives,” Gil Quiniones, NYPA president and chief executive, said in the release. “The Energy Highway pursues a long-term solution to deliver lower-cost, upstate power to the downstate area by reinforcing the transmission system, Quiniones said, noting the new capacity zone will “take money out of the pockets of ratepayers and result in a windfall of profits for existing power plant owners in the region.” The NYISO plans to implement the new zone by May 1, 2014.

New York Fed Completes Test of Fixed-Rate Reverse Repo Facility

The Fed allotted $9.4 billion in overnight reverse repos through the facility at a fixed-rate of 0.01 percent. The operation was open to the Feds 139 tri-party reverse repo counterparties, which includes 94 money market mutual funds, six government-sponsored entities, 18 banks and the Feds 21 primary dealers. Each eligible counterparty was limited to a maximum bid amount of $500 million. The collateral for the transactions was limited to Treasury debt. This exercise is not intended to materially affect the current level of short-term interest rates , the New York Fed said in a statement on Sept. 20. This work is a matter of prudent advance planning and do not represent a change in the stance of monetary policy, the statement said. The New York Fed said in a separate statement today that it plans to increase the maximum bid amount to $1 billion from $500 million, beginning with tomorrows operation. Fed policy makers, while still buying bonds to support the economy, have also been developing methods to eventually help withdraw record monetary accommodation. Along with raising the overnight bank lending rate, Fed officials have said they may use tools including reverse repos to withdraw or neutralize cash in the banking system. In a reverse repo, the Fed lends securities for a set period, temporarily draining cash from the banking system. At maturity, the securities are returned to the Fed, and the cash to its counterparties. To contact the reporters; on this story: Liz Capo McCormick in New York at emccormick7@bloomberg.net To contact the editors responsible for this story: Dave Liedtka at dliedtka@bloomberg.net More News: