As a reporter, Emma is used to covering Newport's social events. But this time she is appearing on the arm of her fiancA(c), Derrick Andrews, at a small but exclusive gathering of the New York Yacht Club at Beacon Rock, the Grecian-inspired summer "cottage" of Edwin and Elizabeth Morgan. The members -- which include cousin and Yacht Club Commodore John Pierpoint Morgan and widow Lucy Carnegie, the first woman to be admitted to the Club -- are there to discuss their strategy for the next America's Cup Challenge, to be held in New York Harbor the following summer.