Washington moves to end the toll; City Hall says the minecarts keep paying
The federal transportation department pulled its approval of the Congestion Relief Zone. The gantries stayed gold.
Six weeks into congestion pricing, the President's administration told the State of New A to switch the gantries off. The letter arrived at the Governor's office on Wednesday; by Thursday the Metro authority had filed suit, and by Friday the readers on the New BK Bridge were still charging nine emeralds.
The fight is the same one playing out in the real New York, and New A runs on the same political engine: a federal government that dislikes the toll, a state that owns the transit system, and a city that lives with the traffic. 'The lamps stay on until a judge says otherwise,' the Metro authority said.
Traders priced the standoff mostly onto the Long Island commuter stocks — there are none, so they priced it onto OP Gas instead. The company's two stations sit on either side of the zone boundary and stand to gain if the toll disappears and carts come back.
At the Well, the argument split along borough lines. Man A villagers like the quieter streets. Long Island wants its bridge back. Mill Bergen, as usual, wants to be left alone.
Market impact
NASE- OPGSOP Gas+3%106.60 +2.77%
The story’s move on each stock. The NASE prices it in fast — about 74% of it within the hour of publication. 40% of the shock is permanent; the other 60% fades with a 10-day half-life, so 70% of the move is still in the price 10 days later. Right: the price now and today’s change.
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The Congestion Relief Zone opens: nine emeralds to bring a minecart into Lower Man A
After a year of pauses and lawsuits, the toll gantries on the New BK Bridge and the Flatbush corridor switched on at midnight.
A new President in Washington; the Federal Reserve on First Avenue changes the flag
New A is a state of the United States, which means the building at 815 First Avenue has a new boss. The villagers mostly noticed the fireworks.
Villagers swear the old mayor kept a gold vault under City Hall. The Registry went to look.
A rumor born at the Well says congestion-pricing emeralds were stacked in gold blocks beneath the mayor's office. The Land Registry inspected the basement.