Chesapeake New York Gas Lease Deal Expected Next Week

STORY:New York Fashion Week: Calvin Klein Draws A-List Stars MILK STUDIOS ESCAPES For a quick meal, it’s hard to beat Chelsea Market (75 Ninth Ave.) and its 44 restaurants and gourmet shops. “During Fashion Week, I spend huge sums of money at One Lucky Duck in the Chelsea Market,” says fashion writer Derek Blasberg of the popular juice bar and raw/vegan cafe. If a caffeine fix is needed, Mazdack Rassi, co-founder of Milk Studios, heads to The Smile, a pop-up of the East Village cafe and store, on Milk’s second and eighth floors. Looking for espresso with a side of chic? Blue Bottle Coffee’s (450 W. 15th St.) brown cups with blue bottle imprints have become a status symbol for those in the know. “We like it for a quick pick-me-up,” says Danielle Snyder of sister design duo Dannijo. Come sundown, Rassi heads for The Electric Room (355 W. 16th St.), the basement bar located in the Dream Downtown hotel that has drawn the likes of Alexander Wang, Jennifer Aniston, Mick Jagger and Scarlett Johansson — and mobs of models — in previous Fashion Weeks. On Sept. 6, the bar will host designer Jason Wu’s afterparty. Not too far away is the rooftop bar Gallow Green (542 W. 27th St.), a fashion-crowd favorite opened a year ago atop The McKittrick Hotel. Georgina Chapman, Marchesa designer and wife of Harvey Weinstein, was a recent guest at the spot, where alcoholic punch is served in copper bowls.

Credit: Reuters/Steve Sisney By Edward McAllister NEW YORK | Wed Sep 4, 2013 5:48pm EDT NEW YORK (Reuters) – Chesapeake Energy Corp (CHK.N) will finalize an agreement next week to drop about 12,000 acres of land leased for energy drilling in New York state, as a moratorium on fracking continues into its sixth year. Reuters reported last month that Chesapeake decided to walk away from about 100 leases in Broome and Tioga Counties in the south of the state, ending a two-year legal battle with landowners who wanted to cancel expired leases or renegotiate for better terms. Lawyers representing Chesapeake said in a letter to the U.S. Court of Appeals for the Second Circuit on Tuesday that they were in the final stages of negotiating a settlement and that a deal is expected to be made official next week. Lawyers representing landowners confirmed the impending agreement. “Assuming there are no objections, we should sign the stipulation of settlement sometime next week,” said Scott Kurkoski, a partner at Levene Gouldin & Thompson, who has sent the final settlement to his landowner clients for review. The 12,000 or so acres are a small portion of the 2.5 million acres Chesapeake holds in natural gas shale plays across the United States, according to company filings, but is a meaningful amount for New York, where the company is one of the biggest leaseholders. Chesapeake was one of the first energy companies to enter New York on a major scale, securing leases from hundreds of landowners, some for as little as $3 an acre, since 2000. But a moratorium imposed in 2008 on high volume fracking largely halted drilling in the state. The company had been appealing a decision by a federal court in New York state that ruled in November that Chesapeake could not use the state fracking ban as a reason to declare force majeure and hold on to leases beyond their expiry without offering landowners better terms. Chesapeake’s decision to drop the appeal, and the leases, is a sign of the growing frustration of energy firms over operating in the Empire State, where most drilling is on hold. It is also an indication that the Oklahoma-based company is reining in spending after years of aggressive acreage buying left it with a huge debt. (Reporting By Edward McAllister.

New York Jets Shouldn’t Worry About Winning During 2013-14 Season

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There is a very good chance that the Jets will lose around 10 games, drawing a lot of negative attention to the franchise and perhaps even leading to Rex Ryans dismissal as head coach. As unpleasant as this year could be for the franchise, it is all a part of the natural growing pains that are associated with changing a regime. The NFL Life Cycle When the Jets were at the peak of the Rex Ryan era in 2009 and 2010, the NFC West was considered to be the worst division in football by a significant margin. Alex Smith was a bust, the Seahawks were changing coaches on an annual basis, the Cardinals were still trying to win with Matt Leinart and the Rams were picking first in the 2010 draft. NFC South and NFC West play each other this year. Best two divisions in football. gregg rosenthal (@greggrosenthal) August 31, 2013 Fast-forward to 2013, and the NFC West is declared the best division in the game littered with Super Bowl contenders, while the Jets are considered by some to be the worst team in football. For the PM crowd: #Jets ranked 32nd in ESPN power rankings. Rex Ryan finds that “comical.” http://t.co/rdxsZyYwft Rich Cimini (@RichCimini) September 4, 2013 How have things changed so quickly? While there are plenty of outlying factors that led to the rise and fall of these teams, this is a product of the organic life cycle of NFL teams. After spending so many years picking high in the first round, the 49ers and Seahawks have been able to build juggernaut rosters, aided by progressive thinking from their relatively new head coaches. After all, if the 49ers were a playoff team in 2010, they would not have been able to select Aldon Smith and Colin Kaepernick in the same draft, both players who are now young cornerstones of the franchise. The Jets were the beneficiaries of favorable draft position not long ago.