One of the key points of conflict between Livingstone and the Labour Party had been the proposed 'Public-Private Partnership' for the London Underground. Livingstone had run in 2000 on a policy of financing the improvements to Tube infrastructure by a public bond issue, which had been done in the case of the New York City Subway. However the Mayor did not have power in this area at the time as the Underground operated independently of Transport for London. The PPP deal went ahead in July 2002, but it did not diminish Livingstone's desire to re-join Labour. Metronet, one of the winners of the contract for PPP, subsequently went into administration in July 2007.