LI Business News articles from July 2006

LI Business News archives from July 2006

Kenneth Lay dead.
July 5, 2006... Byline: Gregory Zeller Enron founder and corporate felon Kenneth Lay has reportedly died of complications from a heart attack. Word began spreading midmorning Wednesday that Lay, 64, died earlier in the day in Aspen, Colo. Online and...

Long Island-based Henry Schein buys Swiss biz.
July 5, 2006... Byline: Henry E. Powderly II Health care supplies distributor Henry Schein said Wednesday it bought a Swiss animal health distribution company for an undisclosed amount. Schein, one of Long Island's largest public companies, grabbed...

Veeco Instruments hires vice president, general mgr.
July 5, 2006... Byline: Jean Paul Vellotti James T. Jenson has been hired by Veeco Instruments Inc. as vice president and general manager of Veeco's Physical Vapor Deposition and Atomic Layer Deposition product lines, the company announced today. ...

CA gets junked.
July 5, 2006... Byline: Jean Paul Vellotti It never rains but it pours, and a dark, dripping cloud seems to be hanging permanently over troubled software maker CA Inc. CA was soaked today by Standard & Poor's, which downgraded the company's credit...

Verizon names new VP for Long Island.
July 5, 2006... Byline: Gregory Zeller Verizon Communications Inc. has reached into Suffolk County to find its newest vice president. Dix Hills resident Tracey Edwards has been named vice president of the communications colossus' Island-Metro market,...

Globecomm Systems gets follow-on order.
July 5, 2006... Byline: Henry E. Powderly II Satellite communications company Globecomm Systems Inc. said Wednesday an Asian company has exercised a follow-on provision to an existing contract. The unnamed Asian direct-to-home video provider, most...

Long Island Power Authority rolls out major billing change.
July 6, 2006... Byline: Jean Paul Vellotti In an effort to conform to the billing practices of other electric and gas utilities in the state, Long Island Power Authority will began rolling out their first major billing change since it took over from the...

Presiding officer of Nassau County Legislature endorses Attorney General Eliot Spitzer.
July 6, 2006... Byline: Jeremy Harrell Attorney General Eliot Spitzer, front-runner in the 2006 governor's race, picked up an important endorsement from a former supporter of his opponent on Thursday. Judy Jacobs, presiding officer of Nassau County's...

Atlantic City shutdown felt on Long Island.
July 6, 2006... Byline: Henry E. Powderly II The shutdown of New Jersey's government has grabbed national attention, and sparked local aggravation. Deer Park-based Inter-County Motor Coach Transportation, which makes daily runs to Atlantic City, lost...

Melville-based Nu Horizons Electronics Corp.'s profit leaps.
July 6, 2006... Byline: Henry E. Powderly II Nu Horizons Electronics Corp. on Thursday said its fiscal first-quarter grew by nearly $3 million on robust sales in the period. The electronic components maker said for the quarter ended May 31, profit was...

Long Island Business Briefs: July 7, 2006.(Company overview)
July 7, 2006... Byline: Claude Solnik Stanley Bergman's office in Henry Schein Inc.'s new Melville headquarters is a miniature museum. The Schein chief executive surrounds himself with what some might view as corporate clutter, but others would see as...

Meet the new boss - same as the old boss of N.Y. Community Bancorp.
July 7, 2006... Byline: Claude Solnik Joseph Ficalora, the 59-year-old chief executive of New York Community Bancorp, keeps one eye on the present - tracking the bank's stock price on a computer monitor - and the other on the company's past. That's a...

Private business: It's Main Street over Wall Street.
July 7, 2006... Byline: Claude Solnik In the 1980s, P.C. Richard & Son came within a hair's breadth of going public. Long Island was about to get a new public company - and lose a private one whose history stretched back to the turn of the century....

Marking (and marketing) corporate anniversaries.(Company overview)
July 7, 2006... Byline: Claude Solnik It's a nice problem to have, if only because you have to be around a long time to have it. Garden City accounting firm Margolin, Winer & Evens faced the dilemma recently: It wanted to make the most of its past by...

Developer wants to build a NASCAR track in Yaphank.
July 7, 2006... Byline: David Reich-Hale Perhaps it's fitting that a developer wants to build a NASCAR track in Yaphank. After all, any development debate on Long Island usually goes around in circles. Top Gun Entertainment is the latest builder with...

Office sector helps Long Island market stay on course.
July 7, 2006... Byline: Dawn Wotapka Hardesty Long Island's office players can relax. Though brokers and owners have fretted about fewer space inquiries and a dearth of take-notice transactions, the second quarter ended on a strong note. The...

Jobs rate in Long Island belies the real deal.
July 7, 2006... Byline: Jeremy Harrell Call it a tale of two statistics. In the last 12 months, the Long Island economy added 6,600 jobs, lowering the unemployment rate to 3.8 percent from 4 percent a year before. "That's a full-employment...

Trade, grocery unions clash over Riverhead's Wal-Mart.
July 7, 2006... Byline: Dawn Wotapka Hardesty When it comes to building new stores, Wal-Mart is used to opposition. But its plans to relocate within Riverhead have created an unusual rift within Long Island's typically solidified unions. One opposes it;...

How to ... Select a managed services provider.
July 7, 2006... Byline: Bernadette Starzee Many companies find it makes good business sense to outsource one or more areas of their operation to a third party. Outsourcing is especially popular in the area of information technology. A company may farm...

With Public Service Commission's begging out, who will step in?
July 7, 2006... Byline: Jeremy Harrell The Public Service Commission's decision last month not to review the Long Island Power Authority's fuel surcharges has prompted critics to renew their call for a watchdog. The last even semi-official monitor...

Interview with John Buonora: 1st working assistant DA in Suffolk County Bar Assn.'s history.
July 7, 2006... Byline: Jeremy Harrell John Buonora was in private practice six years ago when he joined the executive committee of the Suffolk County Bar Association. By the time he assumed the bar's presidency last month, however, he'd become Suffolk...

Accounting: The next generation.
July 7, 2006... Byline: Adina Genn Robert Williams has set his sights on either Columbia or Howard University. But as he enters his senior year at Baldwin Senior High School, Williams - like a lot of students his age - isn't sure which profession he'll...

Copiague-based Global Technology Group's OutRigger targets triple players.
July 7, 2006... Byline: Jean Paul Vellotti The "triple play" offering - voice, data and video over one wire - has been a win-win for cable companies and consumers. For telecoms like Verizon trying to catch up, however, the price has been steep. ...

Commentary: LI Confidential.
July 7, 2006... Byline: Long Island Business News Editorial ROI OK By just about anyone's standards, a 400-percent return on investment is pretty respectable. Just ask the Three Village School District. Earlier this year, the Suffolk district...

Long Island entrepreneur puts Generation X on ice.
July 7, 2006... Byline: Ira Breskin Combine the finesse of figure skating with the brute strength of speed skating, add a dash of entrepreneurial gusto, and you get something like Xtreme Ice Skating. Dan Perceval hopes the new sport - which he...

Local economist says Nassau-Suffolk economy is on a collision course with disaster.
July 7, 2006... Taken at face value, Long Island's economy is doing great, with an all-but-full unemployment rate of 3.8 percent. That's far tighter than the statewide rate of 4.4 percent, or New York City's 4.6 percent. But with the region's job growth...

Commentary: UN approaching a key crossroads.
July 7, 2006... Byline: Alfonse D'Amato It looms in the middle of Manhattan, just beyond our Long Island doorstep, and depending on your point of view it is either a corrupt, incompetent international bureaucracy or the world's last best hope in defusing...

Commentary: The Gore that could have won in 2000.
July 7, 2006... Byline: Jerry Kremer Going to the movies is the best way for people to escape the pressures of everyday life. In the weeks ahead, moviegoers will be inundated with drama, comedy and action. But if you want a reality check, then go see Al...

Commentary: Start with the luggage carts.
July 7, 2006... Byline: James L. Larocca In a recent copy of the Aer Lingus in-flight magazine, best-selling American author Scott Turow, who regularly travels all over the world, was asked to name the worst airport. Without hesitation, he said, "There's...

Letter: Overdeveloped? Better believe it.
July 7, 2006... To the Editor: In the weeks since the Long Island Environmental Voters Forum announced a campaign to out the developers as the cause of many of Long Island's economic and environmental woes, the Long Island Builders Institute has responded...

Angel on your shoulder: Get to know your VCs.
July 7, 2006... Byline: Adina Genn If you want to attract venture financing, it helps to know the mind of the VCs. You'll want to identify which kinds of companies they like, what numbers they want to see and what they like in a management team....

Kruse named executive vice president of Intelligent Office of Garden City.
July 7, 2006... Byline: Kate Patton Rich Kruse, founder and president of ExecuLeaders, was named executive vice president of Intelligent Office of Garden City. The Intelligent Office franchise, with 50 locations across the United States, allows small...

On the move.
July 7, 2006... Byline: Henry E. Powderly II Accounting Holtz Rubenstein Reminick named Randi A. Schuster principal in charge of the firm's trust and estates services. She had been national director of family wealth planning at BDO Seidman. ...

East Hampton-based company believes in making the world a little bit greener.
July 7, 2006... Byline: Adina Genn Green is the new red, white and blue. Marc Clejan and Nick Albukrek firmly believe in that sentiment. It's the reason they left their previous ventures to create GreenLogic Energy, an East Hampton-based company that...

Network on Adolescent Pregnancy-LI working to reduce teen pregnancy.
July 7, 2006... Byline: Ken Cerini Teenage pregnancy was once acknowledged as one of the most critical social problems in our country. These days, the issue is often overshadowed by critical hot-topic issues such as AIDS and immigration. Organizations...

Long Island Nonprofit Briefs: July 7, 2006.
July 7, 2006... Byline: Henry E. Powderly II Verizon gives The Cornell Cooperative Extension of Suffolk County has received a grant from the Verizon Foundation, the philanthropic arm of Verizon Communications. The grant will be used to fund its...

Long Island accounting firm announces staffing changes: July 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff Holtz Rubenstein Reminick named Randi A. Schuster principal in charge of the firm's trust and estates services. She had been national director of family wealth planning at BDO Seidman.

Long Island educational institutions announce staffing changes: June 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff Julie Byrne was named to the Monsignor Thomas J. Hartman Chair for Catholic Studies of Hofstra University in Hempstead. Byrne had been an assistant professor of religion at Duke University.

LI educational institutions announce faculty members honored: June 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff Joseph Manfredi, director of operation for the radio station at Long Island University's C.W. Post Campus, was named 2006 faculty member of the year by the college's office of professional experience...

KeySpan announces Syde Hurdus President's Award winner.
July 7, 2006... Byline: Long Island Business News Staff Natural gas provider KeySpan presented its Syde Hurdus President's Award to employee Charles Fulham for his accomplishments as a student in KeySpan's Lighthouse Youth Transitions Services. Fulham was...

Paul Grosser of Bohemia honered with Engineer of the Year award.
July 7, 2006... Byline: Long Island Business News Staff The American Council of Engineering Companies presented its Engineer of the Year award to Paul Grosser, president of P.W. Grosser Consulting in Bohemia.

;Environmental.
July 7, 2006... Byline: Long Island Business News Staff Environmental Steven G. Miller gof commercial business services for the Long Island office of Conservation Services Group, a Massachusetts-based energy services company. He will work in...

N.Y. Magazine's 2006 Best Doctors list announces winners.
July 7, 2006... Byline: Long Island Business News Staff Seven doctors from Winthrop-University Hospital were named to New York Magazine's 2006 Best Doctors list. They are Anthony Arcati, family medicine; Eva Chalas, gynecological oncology; Burke A. Cunha,...

Long Island financial firm announces staff promotion: July 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff The New York-based Commercial Finance Foundation promoted East Northport resident Brian Cove deputy executive director. He had been the company's government relations director.

Long Island law firms announces staffing changes: July 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff The Melville firm of Genser Dubow Genser & Cona named Paul Hyl to its elder law, trusts and estates division. He had been an attorney with the Garden City firm of Brosnan & Hegler and was of counsel...

Law.
July 7, 2006... Byline: Long Island Business News Staff Law The Melville firm of Genser Dubow Genser & Cona named Paul Hyl to its elder law, trusts and estates division. He had been an attorney with the Garden City firm of Brosnan & Hegler and was of...

Long Island Nonprofit Briefs: July 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff Shannon McElhone, a service coordinator at United Cerebral Palsy of Suffolk County, was named Medicaid Service Coordinator of the year. The Mid-Island Y Jewish Community Center promoted Shelley...

Long Island real estate firms announce staffing changes: July 7, 2006.
July 7, 2006... Byline: Long Island Business News Staff Melville-based Apex Commercial Real Estate Solutions named Lance L. Leighton marketing director for the firm. He is currently a student at Hofstra University's Zarb School of Business. Apex also...

Long Island Forum for Technology names new vice chairman.
July 7, 2006... Byline: Long Island Business News Staff Technology The Long Island Forum for Technology named Daniel Stieglitz vice chairman of LIFT-IT. He had been chair of LIFT-IT's events committee. Stieglitz is vice president of finance and chief...

M&T Bank opens branch in Charles Village that features first check-cashing ATM in region.
July 10, 2006... Byline: Daily Record Staff & Wire Reports M&T Bank announced the opening today of a new branch in Charles Village that features the first check-cashing ATM machine in the Baltimore-Washington region. The branch at 3003 N. Charles St., on...

Kimco Realty Corp to acquire Pan Pacific Retail Properties Inc. in a $4 billion deal.
July 10, 2006... Byline: Dawn Wotapka Hardesty Kimco Realty Corp, the country's largest operator of community shopping centers, is gobbling up Pan Pacific Retail Properties Inc. in a $4 billion deal, the companies announced Monday. Kimco will pay about...

Board of DHB Industries places Chief Executive David H. Brooks on administrative leave.
July 10, 2006... Byline: Henry E. Powderly II The board of directors of DHB Industries placed the company's namesake, Chief Executive David H. Brooks, on administrative leave until his legal problems are over, the company announced Monday. Brooks is...

Merger between KeySpan and London-based National Grid moves forward.
July 10, 2006... Byline: Jean Paul Vellotti London-based National Grid has received an "early termination" from the U.S. Federal Trade Commission toward its scheduled merger with utility KeySpan Corp. While the FTC decision sounds negative, it actually...

Semiconductor sales send SMSC's profits skyward.
July 10, 2006... Byline: Henry E. Powderly II Semiconductor systems manufacturer SMSC said Monday its fiscal first-quarter profit jumped 185 percent on strong sales of consumer electronics. For the quarter ended May 31, SMSC posted a profit of $8.6...

New deal for Brookhaven with troubled asphalt company.
July 10, 2006... Byline: Gregory Zeller The Town of Brookhaven has approved a contract with an asphalt company under federal indictment for alleged bid-rigging. But Brookhaven's new deal with PAV-CO Asphalt Inc. "includes stringent clauses that protect...

Investors pleased with decision of DHB Industries' board to place CEO on administrative leave.
July 10, 2006... Byline: Henry E. Powderly II Shares of DHB Industries nearly doubled in price Monday after the company's board of directors placed Chief Executive David H. Brooks on administrative leave. Brooks was grounded until his legal problems...

Griffon Corp. nets $35.5 million in contracts.
July 10, 2006... Byline: Henry E. Powderly II Communications and manufacturing company Griffon Corp. said Monday its Telephonics Corp. subsidiary has received three contracts totaling $35.5 million. Telephonics, which makes high-tech communications...

Linens 'n Things chooses Quest Service Group LLC to execute better checkout counter.
July 10, 2006... Byline: Gregory Zeller Home goods retailer Linens 'n Things has chosen Quest Service Group LLC to "execute a new cash wrap initiative," according to a press release issued Monday. Quest will install the new wraps - part retail display...

Virginia company selects Symbol Technologies readers.
July 10, 2006... Byline: Henry E. Powderly II Symbol Technologies said Monday it has been selected by ODIN Technologies to support ODIN's contract with the federal government. ODIN selected Symbol's XR400 series of fixed radio frequency identification...

CA buys disaster recovery software provider.
July 11, 2006... Byline: Henry E. Powderly II CA Inc. on Tuesday said it has acquired XOsoft, a software company specializing in disaster recovery and system-backup software. XOsoft is based in Waltham, Mass., and has offices in New York, California...

Sher Institute for Reproductive Medicine taps Long Island OB/GYN to head Garden City office.
July 11, 2006... Byline: Henry E. Powderly II The Sher Institute for Reproductive Medicine, a national chain of fertility centers, has tapped a Long Island OB/GYN to head a new Garden City office. Dr. Jeffrey Braverman, founder of All Island OBY/GYN in...

XIOM Corp. to test and develop a new sprayer for the U.S. Navy.
July 11, 2006... Byline: Jean Paul Vellotti XIOM Corp., an inventor and manufacturer of a portable plastic coating system, has received a multi-phase project to test and develop a new sprayer for the U.S. Navy. The spray system will be designed to meet...

Lee Koppelman departure from Long Island Regional Planning Board continues.
July 11, 2006... Byline: Jeremy Harrell The great untangling of Lee Koppelman from the Long Island Regional Planning Board continued Tuesday. The panel ordered Koppelman, its former executive director, to halt work on a nearly completed 1,200-page...

AvalonBay Communities withdraws its application for luxury apartments on Long Island.
July 11, 2006... Byline: Dawn Wotapka Hardesty Long Island's first housing project designed for "next generation" rentals won't happen. At least, not in Oyster Bay. AvalonBay Communities Inc. has withdrawn its application to replace a former Chevrolet...

Jennifer Convertibles' fiscal third-quarter profit grows 64 percent.
July 11, 2006... Byline: Henry E. Powderly II Jennifer Convertibles on Tuesday said strong demand for its sofabeds caused its fiscal third-quarter profit to grow 64 percent. For the quarter ended May 27, Jennifer Convertibles posted a profit of $2.2...

Goldman Sachs raises its rating on 1-800-Flowers Inc.
July 11, 2006... Byline: Gregory Zeller The bloom is back on the rose at 1-800-Flowers Inc. Global investment banking and securities firm Goldman Sachs on Tuesday raised its rating on the gift retailer from "sell" to "neutral." Among other factors,...

U.S. Small Business Administration welcomes new administrator.
July 11, 2006... Byline: Gregory Zeller The U.S. Small Business Administration has a new leader, the 22nd since the agency was established in 1953. Citing a "dogged focus" and emphasizing "the importance of sophisticated financial management,...

Long Island officials and community activists face off over proposed wind park.
July 12, 2006... Byline: Jean Paul Vellotti For the second night in a row, residents, politicians, Long Island Power Authority officials and community activists faced off before the Minerals Management Service to stress their position on LIPA's proposed...

KeySpan's merger plan clears another hurdle.
July 12, 2006... Byline: Jean Paul Vellotti The U.S. Department of the Treasury's Committee on Foreign Investment in the United States yesterday cleared the proposed merger of National Grid PLC and KeySpan Corp. Alberto Bianchetti, a National Grid...

Amityville-based Hi-Tech Pharmacal up in fourth quarter.
July 12, 2006... Byline: Henry E. Powderly II Higher sales in its health-care products division pushed Hi-Tech Pharmacal's profit up 11 percent in its fiscal fourth quarter, the company said Wednesday. The pharmaceutical company said profit for the...

Melville-based Bovie Medical seeks FDA approval.
July 12, 2006... Byline: Henry E. Powderly II Bovie Medical Corp. on Wednesday said it has filed an application with the Food and Drug Administration for the approval of an electrosurgical product for use in gastrointestinal surgeries. Bovie - which...

OSI Pharmaceutical shares take off on Tarceva sales.
July 12, 2006... Byline: Henry E. Powderly II San Francisco-based Genentech's earnings statement contains one line that has investors in OSI Pharmaceutical all aflutter: United States sales of Tarceva increased 47 percent in Genentech's second quarter. ...

County Executive Steve Levy: Contractors must verify worker status.
July 12, 2006... Byline: Jeremy Harrell County Executive Steve Levy proposed a bill Wednesday requiring county contractors to verify the legal status of their employees. Levy said the Congressional stalemate over federal immigration reform prompted him...

Hauppauge-based Globecomm Systems and EMS team up for NATO deal.
July 12, 2006... Byline: David Reich-Hale Globecomm Systems Inc. announced this week a $7.8 million contract from NATO to provide a global positioning satellite-based "friendly force" tracking system. The Hauppauge-based firm will team up with space...

Comtech Communications Corp. announces $2.4 million deal.
July 12, 2006... Byline: David Reich-Hale Comtech Communications Corp. said Wednesday it has received a $2.4 million order for mobile satellite data communications transceivers. The satellite maker said the order was part of a U.S. Army Movement...

Chembio Diagnostics works to speed up marketing ability for its HIV test.
July 12, 2006... Byline: Gregory Zeller Chembio Diagnostics Inc. has submitted a Clinical Laboratory Approval Amendment Waiver application to the Food and Drug Administration for the company's HIV 1/2 STAT-PAK rapid diagnostic test. If approved by the...

P&J Contracting Co. of Baltimore selected by East Baltimore Development Inc.
July 13, 2006... Byline: Daily Record Staff & Wire Reports P&J Contracting Co., of Baltimore, a minority-owned construction company, has been selected by East Baltimore Development Inc. for an $8 million contract to manage demolition of 500 vacant...

CO-based Mortgage Training Institute to conduct training courses for MD mortgage originators.
July 13, 2006... Byline: Daily Record Staff & Wire Reports The Maryland Office of Financial Regulation has approved the Colorado-based Mortgage Training Institute conducting training courses to satisfy Maryland's new requirement that all mortgage...

Vest maker DHB Industries settles lawsuits.
July 13, 2006... Byline: Henry E. Powderly II DHB Industries on Thursday said it intends to settle numerous class action lawsuits and one shareholder derivative suit for more than $35 million. The suits accuse DHB directors and officers of pumping up DHB's...

Heavy storm causes power interruptions on Long Island.
July 13, 2006... Byline: Jean Paul Vellotti As a front of heavy rains and lightning passed over Long Island last night, 10,381 Long Island Power Authority customers lost power. LIPA spokesman Michael Lowndes said that not everyone lost power at the...

Full cut-off lighting fixtures installed at all nine of LIPA's operational yards.
July 13, 2006... Byline: Jean Paul Vellotti It's not often the Long Island Power Authority can turn off the lights and make people happy. But with the announcement today that full cut-off lighting fixtures have been installed at all nine of LIPA's...

Arizona-based Hypercom to build payment terminals for Symbol Technologies.
July 13, 2006... Byline: Jean Paul Vellotti Symbol Technologies, Inc., best known for its line of hand-held scanners, has announced it will no longer manufacture their own line of payment terminals. Instead, Symbol will turn to Arizona-based Hypercom,...

Frequency Electronics Inc. reports higher revenue for its fiscal fourth quarter.
July 13, 2006... Byline: David Reich-Hale Frequency Electronics Inc. said Thursday that a rise in satellite sales propelled revenue higher for its fiscal fourth quarter, which ended April 30. Revenue for the quarter hit $15.1 million, up from $11.9...

Florida's Extreme Halloween taps Uniondale's Profit Center Software.
July 13, 2006... Byline: Jean Paul Vellotti When your whole business model revolves around the sales success of one day, you better get it right. Florida's Extreme Halloween, a 10-year-old online merchant of costumes and accessories, decided it was...