The Round-Up: Tuesday

On Monday Governor Paterson and Mayor Bloomberg both warned of huge city and state budget deficits in the future. [NY Times]

Because of technical problems, scores of MetroCard vending machines would not accept credit or ATM card payments. [NY Times]

Merrill Lynch announced plans to write down $5.7 billion of assets stemming from mortgage related investments. [NY Times]

The collapse of IndyMac, one of the country's largest mortgage lenders, was one of the most vivid examples to date of the dangers confronting banks and their investors. [NY Times]

A new way to generate cash for home mortgages. [NY Times]

The Mets have sold all but one of the luxury boxes at Citi Field nine months before the new ball park is set to open. [NY Post]

Americans drove nearly 10 billion miles less in May 2008 than in the same month of the previous year. [NY Post]

A female caterer is suing Madison Square Garden because she was allegedly passed over for plum shifts serving food to the Knicks and the Rangers in their locker rooms. [NY Post]

Macklowe Properties has lured Tourneau to a bigger retail space at 510 Madison Avenue; HSBC is inching towards a deal with Larry Silverstein to lease the top 7 floors of 7 World Trade Center. [NY Post]

In an effort to woo more contractors to bid on the city's construction projects, Mayor Bloomberg introduced a handful of reforms to ward off delays and cost overruns on Monday. [Crain's]

Assemblyman Richard Brodsky is questioning the city's subsidy for Yankee Stadium's construction. [NYDN]

Tasti D-Lite is expanding nationally and overseas. [WSJ]

The city's crane operators union has agreed to federal court supervision to stamp out corruption. [NY Sun]

Senator Clinton visited Starrett City yesterday. [NY Sun]

Upper West Siders are rallying against a planned Costco store. [NY Sun]