Author name: Michael Giberson

Stubhub Becomes Major League Baseball’s Official Online Ticket Resale Marketplace

1 Comment / Economics, Professional sports / By

Michael Giberson Major League Baseball has entered into a revenue-sharing agreement with StubHub, an online ticket resale marketplace now owned by eBay. Radio news program Marketplace had a brief story that was far too breezy in the introduction for my tastes: Scott Jagow: In pro sports, ticket scalping is — let’s face it — part …

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Game Fixing Episode in World Cup Quidditch

4 Comments / Books, Miscellany, Sport and fitness / By

Michael Giberson There’s been a lot written about game-fixing in basketball lately, but not much about an obvious game fixing episode in World Cup Quidditch. That is to say, not much written about quidditch match fixing until now. Phil Birnbaum fills the gap at the Sabermetric Research blog. And then there was the suspicious episode …

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PJM Wants to Reorganize Market Monitoring Unit, Move On

Electricity / By

Michael Giberson PJM Interconnection filed plans today with the Federal Energy Regulatory Commission seeking to reorganize the market monitoring function at the regional power market and transmission system operator. The proposal was filed in the form of a Offer of Settlement intended to resolve two complaints filed against PJM earlier this year. The proposal would …

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How Competitive Are Pjm’s Markets? Maryland Wants to Know

3 Comments / Electricity, Energy markets, Politics / By

Michael Giberson Platts is reporting that the Maryland Public Service Commission is considering hiring an outside law firm to evaluate whether there is sufficient evidence of a lack of competitiveness in PJM’s power markets to bring a case before the Federal Energy Regulatory Commission. [Maryland PSC chairman Steven] Larsen told Platts his agency believes that …

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FERC Presents Natural Gas Market Manipulation Claims Against Amaranth

4 Comments / Energy markets / By

Michael Giberson As noted here yesterday, FERC is taking action against Amaranth and its erstwhile energy trading star Brian Hunter for allegedly manipulating energy markets. FERC issued a show cause order, detailing the evidence collected and inviting Amaranth entities to explain why they should not be found in violation of Part 1c of the Commission’s …

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CFTC Files Suit: “Defendents Intended to Create Artificial Natural Gas Prices…”

Energy markets / By

Michael Giberson Earlier this week, the CFTC filed suit against Brian Hunter and Amaranth Advisors charging the company and its chief energy trader with attempted market manipulation and making false statements to the NYMEX. The CFTC has issued a press release, the complaint, and a two-page summary of the complaint. Skip the summary, all of …

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Fed Official Says Market Adjustments Have Allowed Economic Growth Despite Higher Energy Prices

Economics, Energy markets / By

Michael Giberson In a speech yesterday, Federal Reserve Bank of St. Louis President William Poole said, “The importance of recent energy developments is less than their high visibility leads many to believe.” The WSJ Real Time Economics blog further reports: “There are certainly strains from the high price of energy,” but “there is no energy …

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PJM’s Newly Ex-CEO: PJM Never Really Wanted a Market Monitor

Electricity, Energy markets, Networks / By

Michael Giberson Yesterday, PJM Interconnection announced the sudden retirement of CEO Phillip Harris. In a press release, the PJM board stated: We are announcing that President Phillip G. Harris has elected to retire from PJM. We want to acknowledge Mr. Harris’ considerable contributions to PJM and our industry over his many years of service. Without …

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(Somewhat Technical) Perils of Regulation: The Shrinking Proxy Group

19 Comments / Economics, Energy markets, Politics / By

Michael Giberson One of the difficulties that beset planned economies is that without good prices for retail goods, it becomes difficult to price capital goods well. Of course, without good prices for capital goods, it become hard to allocate capital goods to their best use, and resources become wasted. (I think we can credit Ludwig …

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