LI Business News articles from June 2005

LI Business News archives from June 2005

Owners of Total Health Network in Hempstead relocate to superstore in Farmingdale.
June 3, 2005... Byline: Dawn Wotapka Hardesty Marty and Ken Meyer joke that gasoline flows through their veins, but lately their success is coming one vitamin at a time. The father-and-son duo once operated a string of gas stations and car washes...

Long Island investment group proposes mini Disney World for 350 acres of land in Yaphank.
June 3, 2005... Byline: Dawn Wotapka Hardesty An investment group of local sports enthusiasts wants to transform more than 350 acres of Suffolk County-owned land in Yaphank into a "mini Disney World" complex. The $180 million proposal, detailed on a...

Suffolk County's program to lease underwater acres to shellfish harvesters could revive industry.
June 3, 2005... Byline: Ken Schachter After suffering for years from a "brown tide" hangover, Long Island's shellfish industry could be poised for a comeback. Gregg Rivara, aquaculture specialist for Cornell Cooperative Extension of Suffolk County,...

Long Island /New York Metro Capital Forum attracts 15 presenting companies.
June 3, 2005... Byline: David Reich-Hale If last year's LI/NY Metro Capital Forum is a barometer, many of the 15 presenting companies at this year's event are likely to go away empty-handed. In 2004, two of 12 presenting companies earned funds from...

Entrepreneur Bert Brodsky invests in search engine marketing firm.
June 3, 2005... Byline: Claude Solnik Entrepreneur Bert Brodsky has backed away from the spotlight in public companies, but he's heating up in the private sector. Brodsky, who took healthcare services firm Sandata Technologies private and sold most of...

Long Island's Huntington Yacht Club installs wireless 'Net system.
June 3, 2005... Byline: Ken Schachter A century-old yacht club is moving into the fast lane of the Information Superhighway with the installation of what officials say is Long Island's first Wi-Fi system for boaters. The venerable Huntington Yacht...

Nassau University Medical Center develops plan for $25M overhaul of its emergency room.
June 3, 2005... Byline: Claude Solnik Nassau University Medical Center has developed a tentative plan for a $25 million overhaul of its "antiquated" emergency room, said Chief Executive Daniel Kane. "We serve a lot of people. We want to be able to...

2-minute drill with Joel Girsky about his transition into the flat-panel business.
June 3, 2005... Byline: Ken Schachter Why is Jaco transitioning to the flat-panel business? Jaco's core business is transitioning offshore. You look around to see what kind of business could replace our core component business and still be within our core...

Collection attorney fears U.S. Courts not prepared for spike in Chapter 13 filings.
June 3, 2005... Byline: Heather Fletcher MINEOLA - Collection attorney Irwin S. Kirschenbaum fears he may not get the same high-quality Chapter 13 trustee service he's used to when new bankruptcy laws take effect this fall. Kirschenbaum, a partner in...

Author of "The South Beach Diet" speaks at women's health conference at Great Neck, Long Island.
June 3, 2005... Byline: LIBN Staff Dr. Arthur Agatston, best known for writing "The South Beach Diet," left sunny Florida to come back home to Long Island recently. Agatston, a native of Roslyn, was the keynote speaker at the North Shore-Long Island...

NY's Clean Indoor Air Law may be having an impact, according to Tobacco Action Coalition.
June 3, 2005... Byline: LIBN Staff The state's Clean Indoor Air Law went into effect July 24, 2003, banning smoking inside the workplace. It may be having an impact. Adult smoking in New York State fell to 16.8 percent for the fourth quarter of 2004,...

Long Island Business News holds its annual Top 50 Women Awards ceremony.
June 3, 2005... Byline: LIBN Staff Long Island Business News held its sixth annual Top 50 Women Awards May 24 at the Crest Hollow Country Club in Woodbury. Keynoter Silda A. Wall, wife of New York Attorney General Eliot Spitzer, spoke about the...

Veteran journalist Carl Bernstein raps culture of greed in American politics.
June 3, 2005... Byline: Ken Schachter Rapacious business executives and armies of political lobbyists have trampled on the notion of "the public good," veteran journalist Carl Bernstein said. Delivering the keynote address at the Hauppauge Industrial...

Computer Associates International posts fourth-quarter drop.
June 3, 2005... Byline: LIBN Staff Computer Associates International posted sharply lower fourth-quarter net income and said it had found revenue that had been booked improperly in the years 1998 to 2001. Though the company's operating earnings per...

Long Island Power Authority raising electric bills by 1.9 percent.
June 3, 2005... Byline: LIBN Staff The Long Island Power Authority said it will hike electric charges by 1.9 percent as of June 8 due to "unprecedented and sustained increases in the cost of oil, natural gas and purchased power" during the first quarter...

Delaware bankruptcy court approves Chapter 11 plan of TW Inc.
June 3, 2005... Byline: LIBN Staff A bankruptcy court has approved the liquidation plan of TW Inc., which ran The Wiz electronics chain, according to press reports. The Associated Press said the ruling by a bankruptcy court in Wilmington, Del., kept...

Shares of Melville-based Arrow Electronics reach 52-week high on May 31.
June 3, 2005... Byline: LIBN Staff The bulls cheered Arrow Electronics Inc., the Melville-based electronics distributor that hit its 52-week high on May 31. The company's shares rose 3 percent that day alone to $27.95. Arrow's (NYSE: ARW) shares...

Commentary: Greed unchecked.
June 3, 2005... Byline: LIBN Staff In the 1987 movie "Wall Street," business tycoon Gordon Gekko proclaims "greed is good." In the past several years, however, former Washington Post reporter Carl Bernstein said greed has created a corporate...

Commentary: McCain could be tough to beat in a presidential race.
June 3, 2005... Byline: John Kiernan The compromise that was reached last week in the U.S. Senate, which avoided a vote to change the Senate rules on filibusters, could have a significant impact on the 2008 presidential election. According to most...

Commentary: For Long Island Republicans, 2005 is a very big year.
June 3, 2005... Byline: Jerry Kremer Long Island's known for many things. The beaches are among the best in the world. Long Island wines have won universal acclaim. Our farms still provide massive amounts of produce for the state and country. This...

Chief exec of Smithtown Bancorp still finds time for the political process.
June 3, 2005... Byline: David Reich-Hale About 20 years ago, Bradley Rock turned down suggestions to run for local office. It seems he made the right choice; he's done pretty well as the chief executive of Smithtown Bancorp, one of the fastest-growing...

Cerini & Associates to move from Islandia to Bohemia.
June 3, 2005... Byline: David Reich-Hale Kenneth Cerini is a big collector of sports jerseys, as the walls lining his company's Islandia office can attest. Some of his jerseys include those of Pittsburgh Penguins great Mario Lemieux and Tom Seaver of...

Wachovia Bank expected to expand to Long Island; how they will do it is a mystery.
June 3, 2005... Byline: David Reich-Hale Late last year, Wachovia Bank took out an ad in this paper claiming that the bank needed freestanding buildings, shopping-center locations and downtown corner locations to open financial centers on Long Island. ...

Computer Associates' Kenneth Cron considers his next venture.
June 3, 2005... Byline: Ken Schachter What do you do after helping to guide a nationally-known company through a massive federal investigation and a multi-billion-dollar accounting scandal? That's the question confronting Kenneth Cron. For about...

Legislation in NY State Senate would let drivers take accident prevention course online.
June 3, 2005... Byline: Ken Schachter Those multi-hour accident prevention courses could become a lot more convenient if a Senate bill becomes law. The New York State Senate has approved a bill that would let drivers go online for the course. It would...

Long Island businesses, municipalities to get funding for clean-fuel projects.
June 3, 2005... Byline: Ken Schachter Almost $2 million in federal funding will go to Long Island institutions for clean-fuel vehicle projects, the Greater Long Island Clean Cities Coalition announced. The coalition, a program at the Long Island Forum...

Web site allows users to choose a target in the Hamptons for virtual nuclear destruction.
June 3, 2005... Byline: Ken Schachter We've all felt it at one time or another. Maybe it was the traffic, or maybe it was the boss, or maybe it was an annoying e-mail. In any case, who can say they didn't wish they had a big red button that would...

Texas-based Palm Beach Tan chooses Long Island for regional expansion.
June 3, 2005... Byline: Dawn Wotapka Hardesty Palm Beach Tan thinks Long Island is a market where it can shine. Literally. The 20-year-old Texas company - which bills itself as the industry's luxury model and promises a spa-like atmosphere - recently...

Breslin Realty Development Corp. refinances properties.
June 3, 2005... Byline: Dawn Wotapka Hardesty Thanks to a "very attractive mortgage market," Wilbur Breslin has some extra money. His Breslin Realty Development Corp. recently refinanced 11 retail projects for $187 million. At the Clearmeadow Plaza in...

Long Island Real Estate Transactions: June 3, 2005.
June 3, 2005... Byline: Dawn Wotapka Hardesty Air Distribution Enterprises Inc. purchased 36,000 square feet of industrial/office space at 19 Wilbur St. in Lynbrook. The company - a manufacturer's representative for commercial heating and air conditioning...

Long Island real estate brokers close on commercial deals.
June 3, 2005... Byline: Dawn Wotapka Hardesty Senior Vice President Kraig Silver represented The Treeline Cos. in a recent coup to lure 1-800-Flowers.com from its landmark 1600 Stewart Ave. digs to 1 Old Country Road. The deal also includes space for a...

Long Island Commercial Real Estate Briefs: June 3, 2005.
June 3, 2005... Byline: Dawn Wotapka Hardesty * The Larkfield Manor in East Northport has a new owner. After six years, K.B.K. Enterprises sold the 22,000-square-foot catering and reception hall to Bellmark Partners for $4.2 million. Sperry Van Ness...

New president has big plans in store for Nassau County Bar Association.
June 3, 2005... Byline: Heather Fletcher Lobbying Albany on behalf of lawyers, adding diversity, addressing women's concerns and expanding internship opportunities for students are Christopher T. McGrath's top priorities during his year as president of...

Islandia law firm readies for partner Steven Stern's run for Suffolk County legislator.
June 3, 2005... Byline: Heather Fletcher Steven H. Stern, a partner at Islandia's elder law firm, Davidow, Davidow, Siegel and Stern, has the backing of the Suffolk Democratic Committee in his quest to be a Suffolk County legislator. What may prove to...

Empire Blue Cross issues bonuses for NY area hospitals.
June 3, 2005... Byline: Claude Solnik Thirty-seven New York area hospitals received a total of $741,200 in bonuses over the past two years from Empire Blue Cross Blue Shield for patient safety efforts. Manhattan-based WellChoice, which does business...

Critical Care Systems opens specialty pharmacy in Plainview.
June 3, 2005... Byline: Claude Solnik Curative Health Care it couldn't stay away from Long Island. The firm, which moved its headquarters last year from Hauppauge to Nashua, N.H., said its Critical Care Systems specialty pharmaceuticals division has...

North Shore-Long Island Jewish Health System pioneers Down syndrome urine test.
June 3, 2005... Byline: Claude Solnik North Shore-Long Island Jewish Health System has started human clinical trials for a new Down syndrome test. Manhattan-based Xenomics Inc. makes the Transrenal-DNA or "Tr-DNA" technoloy, a non-invasive, pre-natal...

Employees of Bohemia-based Island Acoustics attend boot camp.
June 3, 2005... Byline: Adina Genn As the owner of Bohemia-based Island Acoustics, a provider of acoustical ceilings, drywall and carpentry, Bob Weber watched in frustration as sales reps and estimators bickered while the company tried to put on a united...

FasTracKids in Port Washington teaches kids about finance skills.
June 3, 2005... Byline: Adina Genn Elizabeth Coogan traded in the company of bankers for the 7-and-under set when she opened FasTracKids in Port Washington in March 2004. She believes her decision was right on the money. As a FasTracKids franchisee,...

Great Neck-based Fortress Global Investigations and Security Corp. names Mark Bunim VP.
June 3, 2005... Byline: Henry Powderly Great Neck-based Fortress Global Investigations and Security Corp. named Mark Bunim vice president of risk management. Bunim, with experience in terrorism insurance law, will drive the firm's risk mitigation and...

Old Westbury's Victor S. Rich elected VP of NY State Society of CPAs.
June 3, 2005... Byline: Henry Powderly Old Westbury's Victor S. Rich was elected vice president of the New York State Society of Certified Public Accountants. He is senior partner at New York-based McGladrey & Pullen. Ken Cerini, managing partner of...

Garden City-based employee benefits firm Chernoff Diamond names Robert Abzug VP.
June 3, 2005... Byline: Henry Powderly Garden City-based employee benefits firm Chernoff Diamond named Robert Abzug senior vice president in its retirement plan services division. Before joining Chernoff in 1999, he had been an associate at William M....

Smithtown-based Childbearing Family Alliance names two co-directors of its preschool.
June 3, 2005... Byline: Henry Powderly Smithtown-based Childbearing Family Alliance named Laura Fabrizi and Diane Samuels co-directors of its preschool. Fabrizi will focus on enhancing curriculum while Samuels will handle admissions and parent and...

Long Island financial institutions announce staffing changes: June 3, 2005.
June 3, 2005... Byline: Henry Powderly Steven Brett, finance advisor with the Global Private Client Group at Merrill Lynch, was appointed to the North Shore-Long Island Jewish Health System's New Leadership Division. Cherry Hill, N.J.-based Commerce...

Smithtown's Lauren Brown named director of operations for MaggieMoo's.
June 3, 2005... Byline: Henry Powderly Smithtown's Lauren Brown was named director of operations for ice cream franchise MaggieMoo's. She had been general manager for Ghiradelli Chocolate Co.'s retail operations. MaggieMoo's is franchised by...

Melville-based Henry Schein announces new CEO/president and board of directors.
June 3, 2005... Byline: Henry Powderly Melville-based Henry Schein, a healthcare products provider, named James P. Breslawski president and chief operating officer. He had been the company's executive vice president. Henry Schein also elected the...

Copiague-based Alexander Holdings names Joel Sklar sales director.
June 3, 2005... Byline: Henry Powderly Copiague-based Alexander Holdings, franchisee of Bath Fitter home improvement structures, named Joel Sklar sales director. He had been sales trainer and assistant manager for Bath Fitter's New York and New Jersey...

Huntington-based Advantage Title Agency names Carol Eilbott VP of marketing.
June 3, 2005... Byline: Henry Powderly Huntington-based Advantage Title Agency named Carol Eilbott vice president of marketing. She had been vice president of branding strategy for Rockville Centre-based Harrison Leifer DiMarco.

Hempstead-based Lawrence and Walsh name Virginia Medici Wylly senior counsel.
June 3, 2005... Byline: Henry Powderly Hempstead-based Lawrence and Walsh named Virginia Medici Wylly senior counsel. She had been Long Island branch counsel for the U.S. Small Business Administration.

Long Island real estate firms announce staffing changes: June 3, 2005.
June 3, 2005... Byline: Henry Powderly South Huntington-based Prudential Douglas Elliman named Charles Olsen chief technology officer. He has more than 20 years experience working for the real estate, legal, securities and education industries. ...

Lawrence-based Celebraciones to donate Spanish-language baby journals to March of Dimes.
June 3, 2005... Byline: Adina Genn Lawrence-based Celebraciones has formed a new affiliation with March of Dimes, whose national headquarters are in White Plains. The company will donate their Spanish-language baby journals and baby birth announcement...

Adelphi Breakfast CAFE program to provide free financial seminars to small-business owners.
June 3, 2005... Byline: Adina Genn When it comes to financial proficiency, small-business owners often need help. Those looking to brush up on skills may find it in a series of six free seminars presented by the Adelphi Breakfast CAFE program (Community...

Stock options propel compensation skyward for top Long Island executives.
June 3, 2005... Byline: David Reich-Hale David H. Brooks hit the jackpot. Boosted by the sale of stock options, the founder and chief executive officer of body-armor company DHB Industries pulled in a staggering $72.6 million in 2004, making him the most...

Controversy swirls around DHB Industries founder.
June 3, 2005... Byline: Ken Schachter Neither extreme wealth nor the body armor made by his company, DHB Industries, has shielded top executive David H. Brooks from a storm of brickbats. Skirmishes with the Securities and Exchange Commission, battles...

Westbury-based New York Community Bancorp's stock drops, but execs cash in.
June 3, 2005... Byline: David Reich-Hale Shares of New York Community Bancorp were nearly halved in 2004 after the thrift invested billions of dollars in bonds in a rising interest rate environment. Despite the tough year, though, three of the top 10...

DHB Industries women executives top compensation roster.
June 3, 2005... Byline: David Reich-Hale As her company benefited from the military's seemingly unquenchable thirst for body armor in 2004, so did DHB Industries chief operating officer Sandra Hatfield. Hatfield, second in command at the bullet-proof...

Top 10 most compensated women in 2004.
June 3, 2005... Byline: LIBN Staff 1. Sandra L. Hatfield, COO, DHB Industries Inc. $4,507,385 2. Dawn M. Schlegel, CFO DHB Industries Inc. $3,632,000 3. Nicole Onetto, chief medical officer, OSI Pharmaceuticals Inc. ...

Bert Brodsky and David Brooks reap millions from stock sales.
June 3, 2005... Byline: Claude Solnik Bert Brodsky, a self-proclaimed serial entrepreneur, weighed in as the 11th most highly compensated executive in 2004 at a public company on Long Island with $7.4 million in total compensation from National Medical...

Interview with president of Women's Economic Developers of Long Island.
June 3, 2005... Byline: Ken Cerini Twenty years ago, women were dealing with significant workforce issues, from harassment and condescension, to glass ceilings and lower pay rates. The Women's Economic Developers of Long Island (WEDLI) was founded to help...

Westbury-based law firm launches education program to help sufferers of arthritis.
June 3, 2005... Byline: Henry Powderly Westbury-based law firm Vincent J. Russo & Associates launched an educational program in conjunction with the Long Island Chapter of the Arthritis Foundation. The events, named Lifetime Series, will offer educational...

Long Island Life Sciences Initiative seeks participants to submit request for proposals.
June 3, 2005... Byline: Henry Powderly The Long Island Life Sciences Initiative seeks participants to submit request for proposals to the New York State Department of Labor. Businesses and companies can submit applications for funds that will help support...

Lynbrook-based Spark Development Centers offers summer programs for children.
June 3, 2005... Byline: Henry Powderly Lynbrook-based Spark Development Centers is enrolling students for its summer Advanced Learning Techniques course. The institute offers developmental programs designed to improve a child's attention, behavior and...

Habitat for Humanity of Suffolk presents its newest home to family of five.
June 3, 2005... Byline: Henry Powderly Habitat for Humanity of Suffolk presented its newest home to Frankie and Jacqueline Collazo and their three children. The three-bedroom Bellport home was sponsored by Nationwide Insurance and CitiGroup and is...

Albertson-based school for students with severe disabilities offers interactive learning.
June 3, 2005... Byline: Henry Powderly The Albertson-based Henry Viscardi School for students with severe physical and orthopedic disabilities offered its students an interactive tour of New York's Lower East Side Tenement Museum on May 24. The program...

Bellmore-based Long Island Crisis Center seeks volunteers.
June 3, 2005... Byline: Henry Powderly The Bellmore-based Long Island Crisis Center needs volunteers for its June Volunteer Counselor Assistant training program. The free training sessions will be held on June 7, June 14 and June 21. Volunteers must...

CMP Media takes new multi-pronged approach to business.
June 10, 2005... Byline: Ken Schachter Print is dead. At least that was the conventional wisdom five years ago. Magazines were out, the Internet was in, Gary Marshall recalled. By 2002, the pundits had flip-flopped, said the chief executive of...

LI-based Comverse Technology moves HQ to Big Apple.
June 10, 2005... Byline: Ken Schachter Top executives of Long Island's 15th largest public company have bolted the land of the Big Duck and headed to the Big Apple. Telecommunications services provider Comverse Technology Inc. has quietly moved its...

Senior living earmarked for former LI race track.
June 10, 2005... Byline: Dawn Wotapka Hardesty And they're off. The Beechwood Organization has launched its biggest Long Island development to date - filling 52 acres of the former Roosevelt Raceway with 720 homes earmarked for those older than 55. ...

For Long Island's B103, new life playing the oldies.
June 10, 2005... Byline: David Reich-Hale Two weeks ago, Long Island's B103 was second banana in the oldies radio market, slogging it out against WCBS, the format's decided Duke of Earl. Today, it's touting itself as "New York's only oldies station,"...

LI Assn. teaming with LIBN to publish monthly magazine.
June 10, 2005... Byline: David Reich-Hale The Long Island Association is teaming up with Long Island Business News to publish BusinessLI, the organization's monthly magazine. BusinessLI had been published jointly with Island Publications, a Newsday...

SBA promises more aid to women, but some aren't buying it.
June 10, 2005... Byline: Adina Genn Cris Young has heard it all before. The owner of Bay Shore-based Hudson Fasteners remembers when the Small Business Administration announced in 2000 that it would set aside 5 percent of federal contracts for...

LI's Hofstra Univ. mulls new law school.
June 10, 2005... Byline: Heather Fletcher Hofstra University is considering construction of a new law school as part of an expansion that would add as many as 10 tenure-tracked professors in the coming three years. The proposed facility comes amid...

More retail planned for Riverhead's Route 58?
June 10, 2005... Byline: Dawn Wotapka Hardesty A Connecticut-based real-estate developer is testing a plan to create another mammoth retail center on 43 acres along County Road 58. The project, advertised in a real estate trade publication as a...

2-minute drill with Hofstra Univ.'s new law school dean, Aaron D. Twerski.
June 10, 2005... Byline: Heather Fletcher Hofstra University School of Law's new dean, Aaron D. Twerski, likes to use the words "dynamic" and "cutting edge" to describe the way he wants the public to view his school. From constructing a new law...

Huntington chamber faces lawsuit in name fracas.
June 10, 2005... Byline: Ken Schachter Two Long Island business organizations are engaged in a tug of war over a name. The public spat comes replete with a "cease and desist" letter threatening a lawsuit that seeks monetary damages and a court...

Suffolk County approves creation of Yaphank Center Development Review Committee.
June 10, 2005... Byline: LIBN Staff Part of Suffolk County Executive Steve Levy's plan to create an economic hub in Yaphank became a reality Tuesday. County Legislators unanimously approved creating the Yaphank Center Development Review Committee to...

NY Mets' new centerfielder makes Kings Point his new home.
June 10, 2005... Byline: LIBN Staff Everyone knows it's expensive to live on Long Island. Real estate is high. Taxes? Don't get us started. But suppose you had a few extra bucks. Just for argument's sake, let's say you can hit a curveball, your...

Commerce Bank eyes Long Island insurance acquisitions.
June 10, 2005... Byline: Claude Solnik Commerce Bank is on the prowl for a Long Island-based insurance agency. The Cherry Hill, N.J.-based company, which has bought 16 insurance agencies over the last six years, is targeting its first such purchase in...

Northrop Grumman Corp.'s top-ranking LI exec. heading to Mississippi.
June 10, 2005... Byline: Ken Schachter Northrop Grumman Corp.'s Philip Teel Jr. is leaving Long Island. The defense contractor's top-ranking executive on Long Island will take over the company's Ship Systems business in Pascagoula, Miss., effective...

LI-based Viatronix signs deal with Eastman Kodak's medical division.
June 10, 2005... Byline: LIBN Staff Startup Viatronix Inc. has signed a deal with Eastman Kodak Inc.'s medical division to distribute its 3-D colonoscopy software and standalone workstations, officials said. Under the alliance, Viatronix's V3D Colon...

LI-based Cablevision says Voom shutdown to cost $100M-$130M.
June 10, 2005... Byline: LIBN Staff It will cost $100 million to $130 million to close down the Voom satellite TV service, Cablevision Systems estimated in a government filing. Costs of closing the business include terminating contracts and employee...

Westfield Group acquires Sunrise Mall in Massapequa for $143M.
June 10, 2005... Byline: LIBN Staff The Westfield Group announced it is buying the Sunrise Mall in Massapequa for $143 million. The 1.2 million-square-foot center, anchored by Sears, Macy's, J.C. Penney Co. and Wal-Mart, had $240 million in total sales...

CMP Media's Long Island building sold.
June 10, 2005... Byline: LIBN Staff Mack-Cali Realty Corp. said it sold its two Long Island class A buildings for a combined $72.5 million. The locations include the 237,274-square-foot property at 600 Community Drive, known locally as the CMP...

United Capital Corp.'s shares up 15%.
June 10, 2005... Byline: LIBN Staff United Capital Corp.'s (AMEX: AFP) shares rose 15 percent to $27.15 for the week ended June 2 after the company bought back nearly 5 percent of its stock. The firm said it bought back 425,000 shares for $23.42 per...