LI Business News articles from April 2005

LI Business News archives from April 2005

Banking branch bonanza: How many are too many?
April 1, 2005... Byline: David Reich-Hale In the latest J.P. Morgan Chase commercial, a professionally dressed, gregarious New Yorker stands in the middle of the street and makes a list of demands: He wants his ATMs on both sides of the street, free...

Banks reap many benefits from venue sponsorship.
April 1, 2005... Byline: Claude Solnik With the ink still wet on its contract to acquire GreenPoint Financial, North Fork Bancorp made yet another local purchase: the naming rights to Westbury Music Fair. This month, a new sign was hung at the venue to...

Nationwide deployment of electronic check processing will be implemented slowly.
April 1, 2005... Byline: Claude Solnik In October 2004, many pundits predicted an evolutionary change in the banking world when Check 21 went into effect. The legislation, which lets banks issue "substitute," or scanned, checks, held the promise of...

HSBC Bank USA expands on the West Coast.
April 1, 2005... Byline: LIBN Staff HSBC Bank USA, the ninth-largest bank by deposits on Long Island and one of the largest in the world, is aggressively expanding on the West Coast. Marketing itself as "the world's local bank," HSBC has branches all...

Bank of Smithtown to open its first branch in Nassau County.
April 1, 2005... Byline: LIBN Staff Bank of Smithtown's crossing the border. The bank is opening its first branch in Nassau County, in Port Washington, this week, bringing its branch count to 13. The company, which expects to open a branch in Bohemia...

Cold Spring Harbor Laboratory to play central role in Cancer Genome Project.
April 1, 2005... Byline: Ken Schachter A proposal to mount a $1.35 billion, 9-year campaign to decode the genetic basis of human cancer would put Cold Spring Harbor Laboratory at the center of research that could spin off new techniques, targets and...

Nassau Veterans Memorial Coliseum ranks No. 10 in 2004 for ticket sales to concerts/events.
April 1, 2005... Byline: Ken Schachter If you book the Eagles - or Billy Joel or Alicia Keyes, for that matter - they will come. The much-maligned Nassau Veterans Memorial Coliseum may be a showing a touch of gray, but the 23-year-old venue ranks No....

Los Angeles-based promoter plans technology festival in Nassau County.
April 1, 2005... Byline: Ken Schachter A Los Angeles-based promoter plans to mingle silicon with showmanship this summer by creating a technology festival at Nassau County's Eisenhower Park. Veteran events promoter Howard Mauskopf, whose credits...

Bank of America adds Long Island accounts, despite expectations of customer run-off after merger.
April 1, 2005... Byline: David Reich-Hale When Bank of America acquired Fleet Bank last year, industry experts braced for the customer runoff that follows any sizable merger. Executives at local community and mid-size banks predicted they would steal...

Piping Rock, a water and coffee supplier, puts its Long Island facility up for sale.
April 1, 2005... Byline: Nick Anastasi The gold rush is on. In what some are calling the best seller's market ever, owners of office and mixed-use buildings are cashing out left and right. One of those is Piping Rock, a supplier of natural spring water...

Research shows women-owned firms get smaller percentage of venture capital funding.
April 1, 2005... Byline: David Reich-Hale Research shows that women net about 5 percent to 10 percent of venture capital funding - a staggering low amount considering that women lead 28 percent of all U.S. businesses, according to the Kauffman Foundation,...

Suffolk County officials hope arts festival will boost business in Long Island downtowns.
April 1, 2005... Byline: Adina Genn Suffolk County economic development officials are turning to the arts to help boost business in Long Island downtowns. Called ArtsWave, the three-month festival borrows heavily from similar events in other states,...

Cameron Engineering & Associates signs long-term lease for Woodbury space.
April 1, 2005... Byline: Nick Anastasi Cameron Engineering & Associates has signed a long-term lease to expand operations at 100 Sunnyside Blvd., an 80,000-square-foot facility owned by Oyster Bay Properties. The 20,000-square-foot lease is a...

Interview with new COO of NY-based Gyrodyne Company of America.
April 1, 2005... Byline: Nick Anastasi You were recently promoted to the position of COO at Gyrodyne. What are your new duties? I was promoted in November. Prior to that, I was executive vice president and general counsel for the company. I started with...

Medical director of Lake Success-based ProHealth Care Associates defends his credentials.
April 1, 2005... Byline: LIBN Staff This weekend, the New York Yankees host the World Champion Boston Red Sox in Major League Baseball's opening game. For America's pastime, the games couldn't come fast enough. The sport's been maligned by steroid...

Long Island Business News real estate reporter Nick Anastasi named to Suffolk County post.
April 1, 2005... Byline: LIBN Staff Longtime Long Island Business News real estate reporter Nick Anastasi has been named assistant to Suffolk County's commissioner of economic development and workforce housing. Anastasi, 34, will work with economic...

Cablevision Systems Chairman Charles Dolan tries to block satellite deal.
April 1, 2005... Byline: Ken Schachter In yet another tale of turmoil at Cablevision Systems, Chairman Charles Dolan has petitioned the Federal Communications Commission to block the $200 million sale of the company's Rainbow I satellite to EchoStar...

Defendants in Benefit Plan Administration case must turn over $3.2M in assets to Nassau County.
April 1, 2005... Byline: LIBN Staff Nassau County coffers are $3.2 million richer after seizing assets from defendants accused of fraud in connection with the Benefit Plan Administration of Melville case. The scandal dates back to 1997, when BPA sought...

Systemax delays 2004 earnings release.
April 1, 2005... Byline: LIBN Staff Personal computer and electronics maker Systemax Inc. missed its March 30 release date for results of the year ended Dec. 31 and also will restate results for 2004's first three quarters and 2003. The announcement...

Everett, Wash.-based Intermec sues Symbol Technologies, as intellectual property battle continues.
April 1, 2005... Byline: LIBN Staff The intellectual property battles between bar code rivals Symbol Technologies and Everett, Wash.-based Intermec Technologies Corp. are continuing. Earlier this month Symbol filed a patent infringement lawsuit...

Computer Associates' stock slides 2 percent even as co. names new execs, settles litigation.
April 1, 2005... Byline: LIBN Staff Computer Associates International's (NYSE: CA) stock slid 2 percent to $27.07 during a week in which the company named several new executives and settled licensing litigation. First, it named Alan F. Nugent senior...

Long Island Business News announces its reader advisory board members.
April 1, 2005... Byline: LIBN Staff A month ago, we asked for volunteers for a reader advisory board. The idea was to put together a panel of local businesspeople to help us better cover the Long Island economy, to more closely connect with our...

Commentary: Unearthing the 'politics' behind big business.
April 1, 2005... Byline: John Kiernan When I first started working in government in 1971, corruption stories usually involved politicians and public officers who were abusing the public trust. I remember meeting business leaders who would make jokes about...

Commentary: Memo to Bush: Beware the Medicare gorilla.
April 1, 2005... Byline: Jerry Kremer I don't mean to scare the Bush family. Lord knows that they have enough on their plate. There's a war going on in Iraq, and all those presidential trips around the country to promote Social Security have not been very...

Long Island Capital Alliance seeks presenters for its metro capital forum.
April 1, 2005... Byline: David Reich-Hale The Long Island Capital Alliance is seeking presenters for the 2005 LI/NY Metro Capital Forum, scheduled for June 9 at the Huntington Long Island in Melville. Twelve to 20 companies, ranging from startups to...

N.J-based Commerce Bank expands its ATM network.
April 1, 2005... Byline: David Reich-Hale Cherry Hill, N.J-based Commerce Bank has dropped the fees it charged customers that use other banks' ATMs. Commerce, which has about 20 branches on Long Island, said it would reimburse the $1.50 or $2 the other...

IRS Web site lets taxpayers find out more about status of their refunds.
April 1, 2005... Byline: David Reich-Hale Taxpayers want their refunds. This year, 16 million of them have turned to IRS.gov, the Internal Revenue Service's Web site, to find out more about the status of their refunds. Last year, taxpayers used...

Three surveys report an increase in IT hiring, spending.
April 1, 2005... Byline: Ken Schachter Hiring and spending in information technology are trending higher, according to three new surveys of users and professionals. A survey by staffing firm Robert Half International forecast that the hiring of...

Commack-based Protocall Technologies branching into music, movies, audio books.
April 1, 2005... Byline: Ken Schachter Commack-based Protocall Technologies Inc. (OTCBB: PCLI), whose SoftwareToGo kiosks burn programs onto CDs, is going Hollywood. The company said its new "all-media system" will offer retail customers a library of...

Biodiesel made from vegetable oil may help wean drivers off petroleum products.
April 1, 2005... Byline: Ken Schachter With hydrogen technology still over the rainbow and hybrids just entering the mainstream, some drivers are searching for other ways to wean themselves off imported petroleum products. Enter biodiesel. Biodiesel is...

Rising interest-rates causes pricing concerns on Long Island.
April 1, 2005... Byline: Nick Anastasi An improving economy, as well as growing inflationary pressure, is pushing up interest rates, which could challenge office-building values in the months ahead. The Federal Reserve bumped interest rates up a...

The Insurity Group of Choicepoint signs two Long Island leases.
April 1, 2005... Byline: Nick Anastasi American Commercial Real Estate's Jack Britvan represented Choicepoint in its signing of two leases that total more than 10,000 square feet of office space. In Melville, The Insurity Group of Choicepoint leased...

Farmingdale shopping center sold for nearly $10M to Long Island investment entity.
April 1, 2005... Byline: Nick Anastasi The 70,000-square-foot Bi-County Shopping Center on Route 109 in Farmingdale has been acquired by a Long Island-based investment entity known as Millbrook Properties, according to Sanford Zuckerbrot, chair of Sholom &...

GHP's Woodbury Office Management outlines plans for Tilles portfolio.
April 1, 2005... Byline: Nick Anastasi Long Island's newest office landlord, GHP's Woodbury Office Management, has big plans for its newly acquired office portfolio. Woodbury Office Management is investing $10 million in improvements to public spaces...

Glen Cove-based real estate firm of Crowe Deegan teams with Manhattan-based firm.
April 1, 2005... Byline: Heather Fletcher The Glen Cove-based real estate firm of Crowe Deegan recently enhanced its economic development incentive services by forming an alliance with Manhattan-based Stadtmauer Bailkin, a firm that specializes in those...

Employment Law Alliance representative talks about employers' right to regulate appearance.
April 1, 2005... Byline: Heather Fletcher The New York representative of Employment Law Alliance, a professional legal organization based in San Francisco, said "surging" numbers of lawsuits surrounding personal appearance and style in the workplace...

Touro Law Center honors author-attorney David Boies.
April 1, 2005... Byline: Heather Fletcher Touro Law Center in Huntington is bestowing its most celebrated literary award on David Boies, author of "Courting Justice: From New York Yankees vs. Major League Baseball to Bush vs. Gore, 1997-2000." The law...

Fourteen Long Island pro bono lawyers recognized.
April 1, 2005... Byline: Heather Fletcher Fourteen Long Island attorneys, a record number, received this year's "Outstanding Pro-Bono Attorneys" honor on March 23 from Touro Law Center in Huntington. "Law firms seem to be taking more of an interest in...

Business professionals give tips on how to avoid burnout at work.
April 1, 2005... Byline: Adina Genn Tired of the commute? Suffering from back and neck pain? Short-tempered around clients, friends and family? You might be suffering from burnout. It's an ailment that can cause anyone to fail at doing their jobs...

Director of Womanspace in Great Neck leaves position to pursue other interests.
April 1, 2005... Byline: Adina Genn Robin Gorman Newman, founder and executive director of The Independent Business Women's Circle of Womanspace in Great Neck, a social networking group for entrepreneurial women, is handing over the IBWC's reins. ...

Buy-sell veteran's business brokerage in Patchogue pursues a rapid expansion plan.
April 1, 2005... Byline: Adina Genn At age 23, A.J. Caro purchased his first company, Arrow Security, a company he still owns. Today, 10 years later, Caro has bought and sold several companies, and dealt with a number of business brokers, which match...

Sierra Club's Long Island chapter honors environmentalist.
April 1, 2005... Byline: Henry Powderly Christopher Castro was named 2004 Environmentalist of the Year by the Long Island Group of Sierra Club, a chapter of the national environmental advocacy organization. Castro earned his bachelor's degree in...

Long Island accounting firms announce staffing changes: April 1, 2005.
April 1, 2005... Byline: Henry Powderly Margolin, Winer & Evens promoted John F. Lemanski to senior manager of the litigation consulting, valuation and bankruptcy services department. He previously was a manager in the same department. Michael J....

Long Island education institutions announce staffing changes: April 1, 2005.
April 1, 2005... Byline: Henry Powderly The South Country School District hired Matthew Murphy as its K-12 district math coordinator. He previously taught math and physics in the Smithtown School District. South Country also promoted Gary Dabrusky to...

Long Island financial institutions announce staffing changes: April 1, 2005.
April 1, 2005... Byline: Henry Powderly Bankers Life of New York promoted Libby Hepler to regional sales manager. The Hauppauge resident joined the firm's marketing and partner resource departments in 1994. Uniondale-based Arbor Commercial Mortgage...

Farmingdale-based 21st Century Marketing names Stephen C. Mickolajczyk as VP.
April 1, 2005... Byline: Henry Powderly Farmingdale-based 21st Century Marketing named Stephen C. Mickolajczyk vice president of brokerage services. He previously was brokerage division president at Oakland, N.J.-based Catalyst Marketing.

Long Island not-for-profits announce staffing changes: April 1, 2005.
April 1, 2005... Byline: Henry Powderly The Mineola-based Family and Children's Association named Barbara Shields development manager of events and special projects. She had been director of development at Old Westbury Gardens. Carolyn Cestaro,...

Long Island real estate firms announce staffing changes: April 1, 2005.
April 1, 2005... Byline: Henry Powderly Diane Saatchi stepped down as vice president of finance at The Corcoran Group to resume selling real estate. She is now senior vice president at Corcoran's East Hampton office. Prudential Commercial Real Estate...

Long Island technology firms announce staffing changes: April 1, 2005.
April 1, 2005... Byline: Henry Powderly Hauppauge-based AccountantsWorld named Thomas M. Campana director of sales. Before joining the company, he was the sales director for Thomson Publishing's Research Institute of America. Park Electrochemical...

Long Islanders receive awards and recognition: April 1, 2005.
April 1, 2005... Byline: Henry Powderly The Nassau County Sports Commission honored WFAN-AM sportscaster Ann Liguori with its Broadcast Media Award. Liguori lives in Westhampton. Allstate Insurance named Darryl Colletti National Conference qualifier...

Lupus Alliance of America Long Island chapter launches "Catch a Cure for Lupus".
April 1, 2005... Byline: Henry Powderly The Lupus Alliance of America Long Island chapter has launched its "Catch a Cure for Lupus" fund-raising campaign. The alliance needs businesses to volunteer to sell its paper butterflies. Schools and community...

Town of Brookhaven to host meeting to address future management of peninsula community.
April 1, 2005... Byline: Henry Powderly The cottages at West Meadow Beach in Brookhaven have been leveled - and an empty beach needs a new purpose. The powers-that-be are asking the community to take part in the planning. On April 11, at the Ward...

Historical Society partners with Cablevision and The History Channel to restore Setauket cemeteries.
April 1, 2005... Byline: Henry Powderly The Three Village Historical Society has partnered with Cablevision and The History Channel to restore historic cemeteries in Setauket. The cemeteries, dating from the 1600s to the 1700s, fall into two categories:...

Long Island Women's Agenda launches women's issues program.
April 1, 2005... Byline: Henry Powderly The Long Island Women's Agenda announced its new "Long Island Women in Conversation" monthly series. Topics will surround women's issues related to the workplace, family care and personal needs. Attendees are...

Alzheimer's Foundation of America to award $20,000 to one of its member organizations.
April 1, 2005... Byline: Henry Powderly The Alzheimer's Foundation of America has designated $20,000 to be awarded to one of its member organizations. The money will go toward the group that shows both the greatest level of innovation and the greatest need...

East End Arts Council seeks applications from artists for its Secret Garden fund-raiser.
April 1, 2005... Byline: Henry Powderly The East End Arts Council seeks applications from artists for its Secret Garden fund-raiser. The artist-on-location position provides the EEAC with artwork created for silent auction, including birdhouses, birdbaths...

Long Island group educates public, rehabilitates wildlife.
April 1, 2005... Byline: Ken Cerini As we continue to build on Long Island, the habitats that provide homes and shelters to the region's wildlife continue to shrink. Long Islanders need to find a way to live with their smaller, furrier neighbors. That's...

Commentary: How the highly successful few rose to the top.
April 1, 2005... Byline: Vikram Rajan On Saturday, April 2, Farmingdale State University will be hosting its first ever Entrepreneurship Conference. I've been invited to speak on what it takes to be a successful entrepreneur, and a local businessperson...

NY lawmakers trying to head off migration of scientists due to Ca.'s stem-cell research initiative.
April 8, 2005... Byline: Ken Schachter State lawmakers from Albany to Madison, Wis., fearing that a $3 billion stem-cell research initiative will trigger a migration of scientists and companies to California, are introducing legislation to head off a new...

Banking vets hope to repeat NJ success with Community National Bank in New York.
April 8, 2005... Byline: David Reich-Hale When Stuart H. Lubow launched Teaneck, N.J.-based CSB Financial in 1997, he had visions of expanding it into a local commercial powerhouse. By 2003, the company had amassed assets of $140 million and four...

LI-based ASR International Corp. lands contract with USPS.
April 8, 2005... Byline: Ken Schachter ASR International Corp., the business-process consultancy staffed largely by workers laid off by other Long Island companies, has won its largest contract ever, a deal with the U.S. Postal Service worth as much as...

Long Island businesses feeling the pain of rising gas prices.
April 8, 2005... Byline: David Reich-Hale Joe Eschenberg spent as much as seven hours a day making free deliveries to customers from Malverne to Montauk with his gray Ford F-250 van. But as gas prices continue to rise, Eschenberg, owner of Effects of...

NY State Assembly corks wine legislation.
April 8, 2005... Byline: Heather Fletcher As any wine lover can attest, nothing is more disappointing than bringing home a good vintage only to find seepage. Proponents of direct interstate wine sales think something similar happened in the state...

Long Island's small business owners expect 2005 growth.
April 8, 2005... Byline: Adina Genn While most small firms say they expect to see more business come their way in the next six months, many plan to grow without hiring new employees, according to a new survey. The OPEN Small Business Network 2005...

Energy panel to advise Suffolk County exec. on LIPA options.
April 8, 2005... Byline: Heather Fletcher When Suffolk County Executive Steve Levy is asked to give the state his opinion about what should happen to the Long Island Power Authority, he wants to know what he's talking about. So a couple months ago, he...

2-minute drill with William Turner, Stony Brook University.
April 8, 2005... Byline: Ken Schachter On a campus best-known for scientists and engineers, where does a business school fit in? The university has a great reputation in many fields, but as a top-flight university, why not have a top-flight business school...

Nelnet Inc. acquiring LI-based Student Marketing Group.
April 8, 2005... Byline: Claude Solnik Five years ago, Jan Stumacher was the toast of the town when Ernst & Young named him one of Long Island's entrepreneurs of the year. Today he's got another reason to uncork the champagne. Nelnet Inc., a Lincoln,...

Setauket-based architecture firm lauded for building renovation.
April 8, 2005... Byline: LIBN Staff William F. Collins, a Setauket-based architecture firm, won kudos for its renovation of a 1926 landmark building at 140 West St. owned by Verizon Communications. This week, Verizon said it will move its headquarters...

Independent Community Bankers of America lobbying for exemption from Sarbanes-Oxley Section 404.
April 8, 2005... Byline: LIBN Staff The Independent Community Bankers of America, the nation's largest banking trade organization, is lobbying for banks with less than $1 billion in assets to be exempt from Section 404 of the Sarbanes-Oxley Act of 2002....

Poll spurs Long Island lawyers to ponder other avenues.
April 8, 2005... Byline: Heather Fletcher Ganesh, the elephant-headed god, perched silently in the corner of Arnie Herz's office, presiding over the lawyer's mediation table as water burbled over stones in a nearby fountain. The golden statue, a gift...

John Jay LaValle won't seek another term as Brookhaven's supervisor.
April 8, 2005... Byline: David Reich-Hale John Jay LaValle won't seek a third term as Brookhaven's supervisor. LaValle, 37, said that he's not running for another term because he and his wife are expecting their first child together. The...

Cablevision Systems' Madison Square Garden unit sues NY Jets, MTA, NYC.
April 8, 2005... Byline: LIBN Staff Still smarting after the New York Jets' $720 million bid was approved last week to develop the area over the West Side rail yards, Cablevision Systems' Madison Square Garden unit filed suit against the MTA, the Jets and...

Long Island-based Computer Associates reconfigures business units.
April 8, 2005... Byline: LIBN Staff In a major restructuring, Computer Associates International Inc. has formed five autonomous business units that will be responsible for profits and losses, a structure similar to the one at IBM Corp., the former home of...

LI-based NeuLion strikes software deal with 1-800-Flowers.
April 8, 2005... Byline: LIBN Staff Software startup NeuLion Inc., the firm formed by former Computer Associates executive Nancy Li, is providing its primary software platform to online and telephone retailer 1-800-Flowers.com. The companies did not...

Long Island-based Cablevision has busy week.
April 8, 2005... Byline: LIBN Staff It was quite an active week for Cablevision Systems Corp. (NYSE: CVC). The Bethpage-based cable television provider was rumored to be in talks with two private equity firms to bid for bankrupt Adelphia...

Commentary: Broadwater Energy's liquefied natural gas plant deserves fair shake.
April 8, 2005... Byline: LIBN Staff Broadwater Energy's plan for a liquefied natural gas facility in the Long Island Sound hasn't gotten a fair shake. Everyone from tree huggers to politicians, have expressed knee-jerk reactions opposing the plant. In the...

Commentary: All eyes focus on Long Island's 'big three' political battles.
April 8, 2005... Byline: Martin Cantor What a couple of weeks this has been for Long Island politics. Events and decisions regarding three important political races could dramatically alter the region's political landscape. The unfolding dramas are...

Commentary: Ted Koppel's exit from 'Nightline' ends news era.
April 8, 2005... Byline: John Kiernan Last Friday morning, when we learned that Pope John Paul II's health had deteriorated, the newspapers also carried a story about Ted Koppel saying the host of ABC's "Nightline" program for more than 25 years would be...

Commentary: An ode to Pope John Paul II, magnetism incarnate.
April 8, 2005... Byline: Jerry Kremer Charisma. What a beautiful word. It conjures up all kinds of visions. A person with charisma has a magnetic personality, attracts people like a Pied Piper, creates a cult-like following and towers over all the humanity...

Astoria Federal Savings to stick to Long Island market.
April 8, 2005... Byline: David Reich-Hale Though other Long Island banks - most notably North Fork Bank - have widened their footprints in recent years to other markets, Astoria Federal Savings plans on sticking to its turf, the thrift's chairman said. ...

President of NY State CPA chapter touts need for more women, broader connections.
April 8, 2005... Byline: David Reich-Hale Michael J. Garibaldi has a laundry list of goals for his one-year term as president of the Nassau chapter of the New York State Society of Certified Public Accountants. Garibaldi, who will be installed June 1...

LI-based Suffolk Federal Credit Union produces new line of marketing brochures.
April 8, 2005... Byline: David Reich-Hale Medford-based Suffolk Federal Credit Union has produced a new line of marketing brochures to help attract new customers. The new marketing material, which explains the benefits of banking with the credit union...

Multi-family mortgage debt up in 2004.
April 8, 2005... Byline: David Reich-Hale At the end of 2004, $2.29 trillion in commercial/multi-family mortgage debt outstanding was recorded by the Federal Reserve, a year-over-year increase of 11 percent. In the fourth quarter alone, commercial and...

Melville-based Pulver.com names CEO of Events Group.
April 8, 2005... Byline: Ken Schachter Melville-based Pulver.com is bulking up its trade show unit. The closely held company's Events Group has signed up Jason Chudnofsky, who formerly served as the top executive of COMDEX, the granddaddy of tech trade...