New York Tobacco Debt Gets Boost From Arbitrator Ruling

New York at Boston

Jon Lester allows just three hits over eight innings for the AL East-leading Red Sox, winners of 16 of their past 19 games. (USATSI)

(RAI) Instead, the panel ordered them to pay $92 million they withheld from the state from their 2003 annual payment. For issuers like Nassau County, this decision will definitely push back the date of a possible default for a good number of years, and may actually allow local issuers to pay 100% of their securitized tobacco debt in full and on time, Larkin said in an e-mail. Herbert J. Sims is based in Iselin, New Jersey . Eight other states won decisions yesterday over the disputed payments, while six lost, Larkin said. Besides New York, three of the winning states — Ohio , Illinois , and Iowa — have issued tobacco bonds, he said. None of the states that lost issued them, he said. Prices on Ohio tobacco bonds maturing in 2034 rose in trading today to about 73 cents on the dollar from 71.5 cents yesterday, according to data compiled by Bloomberg. The prices are based on trades ranging from $2.4 million to $5 million. Health Costs The 46-state tobacco settlement in 1998 required the companies to make annual payments to resolve their liability in health-care cost litigation. Some states and municipalities borrowed against the payments, which are based on cigarette shipments. Most of the tobacco bonds graded by rating companies are ranked below investment grade. A dispute between the tobacco makers and states later arose over more than $7 billion due under the deal for the years 2003 to 2012, stemming from claims that market-share erosion reduced the companies obligations. High-yield tobacco bonds have lost 15.4 percent this year, compared with a 5 percent drop for the broader municipal-bond market, according to Barclays Plc (BARC) data. Indian Sales In New York, the disagreement centered on the states policy of not taxing cigarette sales on Indian reservations.

He scored on Robinson Cano’s bouncer to first to make it 3-1. But Victorino had a two-out RBI single in the bottom half. Sabathia went six innings, allowing five runs on nine hits, walking four and striking out five. He’s 4-6 with a 6.48 ERA in his last three seasons against the Red Sox. Daniel Nava’s sacrifice fly increased it to it 5-1. Notes Yankees OF Alfonso Soriano was a late scratch with a sprained right thumb and is listed as day to day. He was scheduled to bat cleanup, so Alex Rodriguez was dropped from second to fourth and Vernon Wells moved from right field to left. Ichiro Suzuki, who was not scheduled to be in the lineup, was inserted in right and batted eighth. “It was bothering him yesterday, but it got worse today,” Girardi said. The Yankees activated RHP David Phelps (strained right forearm) from the 60-day DL and moved Derek Jeter (sore left ankle) to the 60-day DL before the game. “Probably a one-inning guy, not much longer,” Girardi said of Phelps’ role. “He didn’t really get a chance to build up (his arm strength) to be a long guy.” Farrell said LHP Felix Doubront will throw a side session Sunday, a simulated game Tuesday and “likely in the Toronto series [next weekend] in a starting role.” Farrell also said Doubront hasn’t been used due to “fatigue.” Ivan Nova (8-4, 3.17 ERA) goes for the Yankees in the series finale against Clay Buchholz (10-0, 1.61 ERA) on Sunday night. Buchholz will be making his second start since coming off the DL. He was out since early June with a strained neck.

The 19 Things You Need To Remember From New York Fashion Week (PHOTOS)

The fluid mayoral contest to replace the longstanding mayor, Michael Bloomberg, featured five candidates all fighting to define New York City’s post-Bloomberg era. De Blasio’s early lead in exit polling came after early polls in July showed him near the bottom of the pack of candidates, which in addition to Quinn, Weiner and Thompson, featured current New York City Comptroller John Liu. De Blasio, backed by progressive Democrats, pitched himself as a fierce opponent of Bloomberg’s policies — including one of the most controversial, the “stop-and-frisk” policy in which city officers were encouraged to proactively stop and interrogate anyone suspected of criminal behavior. Many African Americans and Democrats said the policy disproportionately subjected young black and Hispanic men to that treatment. According to the AP, exit polls showed that most voters said “stop and frisk” resulted in the harassment of innocent people. Primary voters also said they wanted the next mayor to move away from Bloomberg’s policies. And a full two-thirds of primary voters said it was a bad idea to allow Bloomberg to serve a third term in office. In an August Siena College poll , 62 percent of New Yorkers said they felt Weiner and Spitzer embarrassed the city. Though their sexual dalliances evoked many comparisons, Weiner and Spitzer’s political paths were actually quite different. While Spitzer managed to avoid any new scandals surfacing, Weiner seemed to drown in them. As New York’s attorney general, Spitzer developed a reputation as a hard-charging and ambitious prosecutor. While in Congress, Weiner had more of a reputation as a fiery favorite of the cable news circuit than a legislator.

New York City Voters Reject Spitzer, Weiner

Sadly, this is not the first time the designer has gotten into hot water using conflicts in other parts of the world to sell clothes — we all remember the Cairo incident . “Boots on the ground” or not, let’s not forget about sandals, pumps and loafers. #Footwear Kenneth Cole (@KennethCole) September 5, 2013 2. Naomi Campbell is still on top of her game. The famous ’90s supermodel closed the show at Diane von Furstenberg. 3. The Jonas brothers are into fashion now? Nick, Joe and Kevin Jonas kept popping up at various Fashion Week events (like front row at Richard Chai and at the Prabal Gurung after party). LOL. PHOTO : Nicki Minaj with the Jonas Brothers and SB at Jeremy Scott Fashion Show in NYC Indonesian Barbz (@NickiMINDO) September 12, 2013 Jonas Brothers front row at Richard Chai AP Fashion (@AP_Fashion) September 5, 2013 Jonas Brothers at Prabal Gurung After Party last night JB (@JoeJonasArmy) September 8, 2013 4. Taylor Momsen emerged from wherever she had been hiding. The actress-turned-rocker attended shows like Helmut Lang. But don’t worry, not much else has changed, she still looks like a mall goth (sorry, we’re not sorry). 5. Mary-Kate and Ashley Olsen let down their guards.

Denver at New York

However, he’s coming off a 450-yard, four-touchdown performance last week. “You do take a moment there to realize that it is your brother over there that’s the quarterback for the New York Giants in the NFL, the same person that you grew up with, so it is unique and I think you take a moment to realize that it is special,” Peyton Manning said. Three of Eli’s TDs against the Cowboys went to Victor Cruz, but his pass that bounced off running back Da’Rel Scott’s arm and was returned 49 yards for a touchdown with 1:50 left was too much to overcome. The Broncos seemed to realize this week that the giveaways masked a dynamic performance through the air – and suggests that a shootout between the Manning brothers could be on tap. “That tells you about what kind of team they are, to have that many turnovers and still be around and still be competing for the win,” Broncos safety Duke Ihenacho told the team’s official website. “They’re a dangerous team and they’re a good team and we know that. That’s how we’re going to approach it.” Denver cornerback Champ Bailey has been ruled out again after missing the opener with a sprained left foot. He’ll again be replaced by Dominique Rodgers-Cromartie. Starting middle linebacker Wesley Woodyard (ankle) remains uncertain for the Broncos. Also without suspended All-Pro linebacker Von Miller, Denver still delivered four sacks – 2 1/2 from linebacker Shaun Phillips – and limited Baltimore to 58 yards rushing. Although the Giants got a big effort from the passing game – receivers Cruz, Hakeem Nicks and Rueben Randle each finished with more than 100 yards – they’ll have to be even better defensively this week in addition to taking care of the ball. New York held Dallas to 331 yards but got only sporadic pressure on Tony Romo, sacking him twice.