LI Business News articles from June 2006

LI Business News archives from June 2006

John Faso earns GOP governor nod.
June 1, 2006... Byline: Jeremy Harrell Former state legislator and Nassau County native John Faso secured the Republican designation for governor on Thursday, earning the backing of more than 50 percent of his party's delegates. But despite winning...

Verizon tunes in to WVVH.
June 1, 2006... Byline: David Reich-Hale WVVH-TV is going regional. The small Hamptons television station, which is available on UHF channel 50 and on Channel 78 on Cablevision's East End system, has struck a carriage agreement with Verizon's FiOS...

OSI Pharmaceuticals: Test shows promise.
June 1, 2006... Byline: Jean Paul Vellotti OSI Pharmaceuticals Inc. announced Thursday that its Macugen drug, which is undergoing a mid-stage clinical trial, was effective in improving the vision of patients suffering central retinal vein occlusion. ...

Brookhaven National Laboratory Nobel Laureate dies.
June 1, 2006... Byline: Jean Paul Vellotti Raymond Davis Jr., a retired chemist at Brookhaven National Laboratory who won the 2002 Nobel Prize in physics for detecting solar neutrinos, died Wednesday at his home in Blue Point. The 91 year old died...

LI-based Blumenfeld Development Group buying Connecticut shopping center.
June 1, 2006... Byline: Dawn Wotapka Hardesty Blumenfeld Development Group's retail portfolio now includes a Connecticut shopping center. The Syosset-based developer just paid $59.3 million for the 320,000-square-foot Eagle Road Shopping Center in...

Long Island's Synergx Systems pulls out of Texas.
June 1, 2006... Byline: Henry E. Powderly II Life safety company Synergx Systems said Thursday it sold its Dallas subsidiary to focus on its New York operations. The maker of fire alarms, closed circuit video systems, intercoms and other electronic...

Long Island-based Medical Action Industries posts strong quarter and year.
June 1, 2006... Byline: Henry E. Powderly II Disposable medical products maker Medical Action Industries said Thursday that healthy sales led to a 6 percent bump in fiscal fourth-quarter profit, despite higher material costs. Medical Actions said...

U.S. Army places $9.2M order with Long Island's Comtech Blue.
June 1, 2006... Byline: Jean Paul Vellotti The U.S. Army had placed a $9.2 million order for mobile satellite data transceivers with Comtech Telecommunications Corp. With this deal, the Army has placed $258 million worth of orders with Comtech. This...

Lowe's, Home Depot battle over space on Long Island.
June 2, 2006... Byline: Dawn Wotapka Hardesty Chris Lengyel needed a window lock, so he dashed to the Lowe's Home Improvement Warehouse a half-mile away on Route 112 in Medford. If a Home Depot was closer to the job site, he would have gone there. "In...

Sarbox bill gives some a free pass.
June 2, 2006... Byline: Adina Genn A Capitol Hill battle is brewing over financial reporting requirements in the Sarbanes-Oxley Act. Lawmakers are pushing a new bill to reduce Sarbanes-Oxley reporting protocols, requiring that firms and their external...

15th Annual International Franchise Expo set.
June 2, 2006... Byline: Adina Genn Potential franchisees may want to head over to the 15th Annual International Franchise Expo June 2 to June 4 at the Washington D.C. Convention Center. This year, 331 franchise brands will be exhibiting, according to...

In new era, i.park in Lake Success to change name.
June 2, 2006... Byline: Dawn Wotapka Hardesty Just like fresh-faced techies who ran Web sites worth millions on paper, i.park is now a casualty of the tech bust. The sprawling defense plant-turned office park is now named after where its mail goes:...

Fuel hedging comes to Long Island.
June 2, 2006... Byline: Jeremy Harrell Michael Kasminoff is betting that his new business venture will take off - and save Long Island businesses big dollars in the process. Econnergy, a Rockland-based independent energy supply company, or ESCO, is...

Hamptons Luxury Homes looks to add to profit margin.
June 2, 2006... Byline: Jean Paul Vellotti Luxury living in the Hamptons is theater, and the curtain opened Memorial Day weekend, says Roy Dalene, president and chief executive of Hamptons Luxury Homes. Speaking from his office in a converted potato...

Verizon's senior VP for NY and Connecticut discusses FiOS TV strategy.
June 2, 2006... Byline: Jeremy Harrell When Verizon Communications Inc. launched its town-by-town FiOS TV franchising campaign, the company turned to Monica Azare, senior vice president for New York and Connecticut, to lead the troops. A Louisiana native...

As sizzle fizzles, for sale sign no longer enough in residential real estate market.
June 2, 2006... Byline: Dawn Wotapka Hardesty Like many real estate listings, 48 Maple St. in West Babylon has its own Multiple Listing Service number and an agent assigned to selling the cornflower-blue, three-story, five-bedroom home. But it's got...

Town of Huntington considers ban on burning materials harmful to the environment.
June 2, 2006... Byline: Long Island Business News Staff Don't say the Town of Huntington avoids the pressing issues. It halted building houses on golf courses, forced union labor on commercial projects over 100,000 square feet and tightened hillside...

Commentary: Plenty of blame to go around for Long Island's lack of affordable housing.
June 2, 2006... Byline: Long Island Business News Staff The Long Island Environmental Voters Forum thinks the only way to control the ever-increasing supply of McMansions on Long Island and protect the dwindling acreage of open space is to go after the...

Commentary: Businesses, politicians wallow in scandal.
June 2, 2006... Byline: John Kiernan Last Thursday, after a lengthy trial and six days of jury deliberations, the top two former executives of Enron were found guilty of conspiracy and fraud. The jury seemed to have no doubts whatsoever that Ken Lay,...

Commentary: Congress-White House battle about to spill over.
June 2, 2006... Byline: Jerry Kremer It took a long time for the leaders of the U.S. Congress to figure out that, like Rodney Dangerfield, they get no respect. They don't deserve it, either. After four-plus years of being ignored, abused, used and...

Commentary: The pendulum swings left in NY politics.
June 2, 2006... Byline: Martin Cantor This week, state Republican and Democratic parties convened to select their fall election standard bearers. This year, Republicans seem to have lost their way with elements of their constituency. Republicans are...

Letter: Unions must stop knee-jerk reactions.
June 2, 2006... I am compelled to comment on the defamatory comments by Kris LaGrange, identified as a spokesman for the Long Island Federation of Labor, in your article, Contractor group seeks Huntington law repeal, leveled at our organization, Associated...

The Olympic Diner in Deer Park reopens after renovations.
June 2, 2006... Byline: Adina Genn Most entrepreneurs would think twice before shutting the doors, slapping up a "Closed for Renovations" sign and cutting all revenue streams indefinitely. Peter Kanaras is no different. But Kanaras, a co-owner of The...

When you have questions, Jeffrey has answers.
June 2, 2006... Byline: Jeffrey Gitomer I get a ton of e-mails asking to solve sales dilemmas. Here are a few that may relate to your job, your life, but most important, your sales thought process. Jeffrey, If you don't win an account, what are the...

Benchmark Hospitality names director of sales and marketing of Glen Cove Mansion Hotel.
June 2, 2006... Byline: Henry E. Powderly II Houston, Texas-based Benchmark Hospitality International named Keith Battaglia director of sales and marketing of the Glen Cove Mansion Hotel and Conference Center. Benchmark Hospitality International, an...

On the move.
June 2, 2006... Byline: Henry E. Powderly II Advertising The Healthcare Advertising Awards granted four Gold Awards to Hauppauge-based Walter F. Cameron Advertising. Cameron received awards for its direct mail campaign for LightyearDirect, its Web...

Web site opens door to Main Street retail shop in Huntington.
June 2, 2006... Byline: Adina Genn Billii Roberti opened www.IAMBooksOnline.com in April 2004. In November 2005, she opened a retail shop, I Am Books, on Huntington's busy Main Street. The store specializes in holistic books and gifts and offers...

Interview with Kathleen Roche, executive director of Rainbow Chimes.
June 2, 2006... Byline: Ken Cerini It's early Monday morning and you are getting ready for that big presentation you have at work today when the phone rings. Your caregiver for your two children has the flu and won't be able to make it. Your husband has...

Long Island Nonprofit Briefs: June 2, 2006.
June 2, 2006... Byline: Henry E. Powderly II Digital gifts Allstate New York's regional office in Hauppauge collected more than 100 DVDs for Forward Face, a Long Island not-for-profit that helps children with facial deformities. The DVDs are...

How to ... Pick a meeting facility.
June 2, 2006... Byline: Bernadette Starzee Looking to plan a meeting on Long Island? You're in luck. The Island is well-endowed with meeting facilities, which include hotels, inns, country clubs, conference centers, university campuses and catering halls....

Bank execs, real estate principals are most highly compensated executives on Long Island.
June 2, 2006... Byline: Claude Solnik When it comes to executive compensation on Long Island, only three words will do: Bank on it. North Fork Bancorp CEO John Adam Kanas topped the list of 2005's best-compensated Island executives, filling the...

Glass ceiling? Women execs are 98 percent sure.
June 2, 2006... Byline: Claude Solnik The glass ceiling on Long Island may be cracking, but it's still holding. Only two women made LIBN's 2005 list of the top 100 compensated executives at Island-based public companies, down from six women in 2004....

Long Island's highest paid female executive in 2005 now running British company Premier Farnell.
June 2, 2006... Byline: Claude Solnik During a 12-year career at Arrow Electronics, Harriet Green rose to lead the firm's Asia operations and became the highest paid female executive at any Long Island-based, publicly traded company. But after leading...

Executive compensation consultants coming under fire for potential conflicts.
June 2, 2006... Byline: Claude Solnik Sometimes, determining what to pay top executives requires a little help. While some companies carefully craft their own executive compensation packages, others call in executive compensation consultants - and...

Got accountants? The recruiting agencies do.
June 2, 2006... Byline: Claude Solnik As the human resources director for Margolin, Winer & Evens, one of Long Island's largest accounting firms, Robert Micera used to be able to rely on "help wanted" ads when he had an opening. Networking and other...

In recruiting, even partners are fair game.
June 2, 2006... Byline: Claude Solnik R-r-r-ring. R-r-r-ring. Who's calling? You'd like to recruit who? If you're a high-ranking accountant - a partner or managing partner - there may very well be a head hunter on the line. While partners and...

Compensation: Putting the 'earn' back in 'earnings'.
June 2, 2006... Byline: Claude Solnik In an effort to connect an executive's earnings to a company's revenues, some are pushing for "pay-for-performance" models linking compensation to results. Imagine a world where a CEO's paycheck dwindles when his...

LI-based Austin Travel new member of Ritz-Carlton STARS Society.
June 2, 2006... Byline: Long Island Business News Staff Melville-based Austin Travel was granted membership in the Ritz-Carlton STARS Society for its leadership in the travel industry.

LI's Cablevision Systems names assistant treasurer.
June 2, 2006... Byline: Long Island Business News Staff Cablevision Systems Corp. named P. Mark Ng assistant treasurer. He will help manage the company's relationships with commercial and investment banks and debt-rating agencies. Ng had been vice...

Garden City-based Clearview Title Agency names director of sales and marketing.
June 2, 2006... Byline: Long Island Business News Staff The Garden City-based Clearview Title Agency named Ted Greason director of sales and marketing. He had been an agency representative for Washington Title Insurance Company in Floral Park.

HJMT Communications in Westbury names new senior account executive.
June 2, 2006... Byline: Long Island Business News Staff HJMT Communications in Westbury promoted Angela Ruggiero to senior account executive. She has worked for the firm for the past two years.

Long Island law firms announce staffing changes: June 2, 2006.
June 2, 2006... Byline: Long Island Business News Staff The Garden City firm of Jaspan Schlesinger Hoffman named Chris J. Coshchignano, Oyster Bay town councilman, a partner in the firm. He will focus on real estate, land use and zoning, municipal defense...

Long Island nonprofits announce staffing changes: June 2, 2006.
June 2, 2006... Byline: Long Island Business News Staff Rachel Kalish, coordinator of volunteers and community services for the Victims Information Bureau of Suffolk, received a Special Leadership in Domestic Violence and Child Abuse Award at the Suffolk...

Long Island medical firms announce staffing changes: June 2, 2006.
June 2, 2006... Byline: Long Island Business News Staff Wendy Balopole, attending medical oncologist at Winthrop-University Hospital, was honored by the Hospice Care Network at its annual board meeting. Balopole, who is also clinical assistant professor of...

Hauppage-based Walter F. Cameron Advertising receives awards.
June 2, 2006... Byline: Long Island Business News Staff The Healthcare Advertising Awards granted four Gold Awards to Hauppauge-based Walter F. Cameron Advertising. Cameron received awards for its direct mail campaign for LightyearDirect, its Web site for...

NY state senator tries to stop Deepdale Golf Club seizure.
June 5, 2006... Byline: Dawn Wotapka Hardesty A state senator is aiming to protect the Deepdale Golf Club. Michael Balboni (R-Nassau) is sponsoring legislation that would forbid the Town of North Hempstead from seizing private facilities and...

Town of Babylon launches community court to handle quality-of-life issues.
June 5, 2006... Byline: David Reich-Hale The Unified Court System and the Town of Babylon are launching a community court designed to handle violations of town ordinances that affect quality-of-life issues. The court will be run by the state, out of...

Plainview's KyLin TV launches first Internet-based station devoted to Chinese programming.
June 5, 2006... Byline: Jean-Paul Vellotti Disco balls, flashing lights and dance music provided a dramatic backdrop for the expanded launch of Plainview's KyLin TV, the first Internet Protocol-based television station devoted to Chinese programming. ...

Philadelphia-based real estate investment trust to buy two Long Island hotels.
June 5, 2006... Byline: Claude Solnik Hersha Hospitality Trust (AMEX: HT), a Philadelphia-based real estate investment trust, today said it reached a deal to buy two hotels from Long Island Hotels for $39.5 million total. Hersha - which is acquiring a...

Synergx sells its Texas-based General Sound business.
June 5, 2006... Byline: Claude Solnik Now hear this: Synergx Systems Inc. is leaving the Lone Star state. Synergx today said it has sold its Texas-based General Sound business to LCR Sound for $518,000. Synergx - which provides communications...

Long Island-based CA announces executive departures, realignment of sales team.
June 5, 2006... Byline: Jean Paul Vellotti CA has decided to clean house, or at least reorganize it, starting with another executive departure. The company announced Monday that Gregory Corgan, who served as executive vice president of worldwide sales...

Aceto plans India expansion.
June 5, 2006... Byline: Jeremy Harrell Aceto Corp. executives on Monday announced a plan to ramp up the pharmaceutical distribution company's presence in India. The board of directors authorized the purchase or construction of a facility in Mumbai,...

Stony Brook University to develop vision technology.
June 5, 2006... Byline: Claude Solnik Stony Brook University is taking on a challenge of biblical proportions: Giving sight to the blind. The school said the estate of a late scientist has donated technology to the school designed to provide...

NY Senate OKs Deepdale Golf Course-based legislation.
June 6, 2006... Byline: Dawn Wotapka Hardesty The state Senate has approved legislation crafted to protect the Deepdale Golf Course. The legislation, sponsored by Senator Michael Balboni, R-Nassau, does not name Deepdale, but would prohibit...

New York City-based investment banking firm still high on Netsmart 'buy'.
June 6, 2006... Byline: Gregory Zeller According to Griffin Securities, the smart money is still on Netsmart. Griffin, a New York City-based investment banking firm, on Tuesday updated and reiterated its "buy" rating on Netsmart Technologies Inc.,...

Symbol Technologies begins customer trials with Microsoft's BizTalk server software.
June 6, 2006... Byline: Jean-Paul Vellotti Symbol and Microsoft are having a little talk - and soon, they hope, a lot of talk. Symbol Technologies Inc. has begun customer trials that will allow its XR400 series of Radio Frequency Identification...

Long Island residents expect to pay 17% more for electricity in 2006 than they did in 2005.
June 6, 2006... Byline: Henry E. Powderly II State Comptroller Alan Hevesi said Tuesday that Long Island residents should expect to pay 17 percent more for electricity in 2006 than they did in 2005. A report by Hevesi's office states that LIPA's...

U.S. Trust survey: Wealthy feel comfortable about future of national economy.
June 6, 2006... Byline: David Reich-Hale Though terrorism still weighs heavily on the minds of the affluent, a higher percentage of the wealthy set feels comfortable about the future of the national economy, according to a U.S. Trust survey released...

Suffolk, Nassau county district attorneys pledge crackdown on wage abuse.
June 8, 2006... Byline: Jeremy Harrell Suffolk and Nassau county district attorneys on Wednesday promised to root out violators of the state's prevailing-wage law, which guarantees a minimum wage for government construction projects. Suffolk County DA...

Great River-based Netsmart Technologies rolls on.
June 8, 2006... Byline: Gregory Zeller Momentum continues to build at Netsmart Technologies. The health and human services software provider has been awarded a contract totaling more than $2 million by Kalamazoo, Mich.-based Community Mental Health...

Islandia-based CA Inc. launches ad campaign.
June 8, 2006... Byline: Henry E. Powderly II CA Inc. said Thursday it launched the most aggressive advertising campaign in its history. The Islandia-based business software company said it is expanding its existing "Believe Again" campaign, which was...

Shares of Long Island-based Napco Security Systems Inc. split.
June 8, 2006... Byline: David Reich-Hale Shares of Napco Security Systems Inc. split 3-for-2 before trading Thursday. The board at the electronic security equipment supplier originally approved the split on May 10. The split was payable June 7 to all...

Stocks drift lower as rate worries linger.
June 8, 2006... Byline: Long Island Business News Staff Interest rate concerns pushed stocks lower Thursday as investors continued fretting about higher lending costs choking demand and hurting the global economy. Investors had little reaction to a...

Long Island officials take aim at special districts.
June 8, 2006... Byline: Jeremy Harrell In Harvey Levinson's world, Nassau County would replace its scores of special taxing districts with three fire districts, three sanitation districts and three water districts - one for each of Nassau's three towns....

Cablevision delays network DVR intro, pending outcome of lawsuits.
June 8, 2006... Byline: Jean Paul Vellotti After filing a countersuit against plaintiffs who allege Cablevision is violating copyright law with its proposed network digital video recording system, Cablevision has agreed to suspend introduction of the...

Melville has turned into Long Island's banking central.
June 9, 2006... Byline: Claude Solnik It's a small world, particularly if you're in the banking industry on Long Island. The bulk of banks doing business on Long Island have headquartered their operations on a postage stamp-sized portion of the...

As competition heats up, many banks try to sweeten the deal, but beware of added fees.
June 9, 2006... Byline: Claude Solnik The signs, the ads, the marketing and the hype are everywhere. Free checking has become the new free toaster, bait with which banks hope to hook new customers. About 85 percent of banks nationwide now offer some...

Refinancing market finally cools in Long Island and the nation.
June 9, 2006... Byline: Claude Solnik The red-hot refinancing market is cooling off. An increase in mortgage rates is heralding the end of a mortgage boom that stretched across Long Island and the nation. The Mortgage Bankers Association projects for...

Bank robbers have gone high-tech; banks add more data security measures.
June 9, 2006... Byline: Claude Solnik Robert DeStefano, senior vice president and chief information officer for Astoria Federal Savings, spends a lot of time surveying the demilitarized zone - not the West Bank, but a battlefield occupied by banks. ...

Long Island lobster fisherman no longer depends solely on lobsters to make a living.
June 9, 2006... Byline: Jean Paul Vellotti John Davi has the luxury of arriving just as the sun is burning off the thick white fog surrounding Mount Sinai Harbor. He pulls up to the Cedar Beach parking lot at around 7 a.m., later than any of the other...

Gordon Heights leaders embark on a program to rebuild the identity of the community.
June 9, 2006... Byline: Jeremy Harrell It's possible that Gordon Heights is the most closely knit community on Long Island. Founded in 1927 by Louis Fife, who recruited black families from Brooklyn, the Bronx and elsewhere to the woods of Brookhaven,...

Reaction mixed as New York State ups pre-kindergarten ante.
June 9, 2006... Byline: Claude Solnik New York State is stepping up its efforts to fund public pre-kindergarten education. In a move that could have a large impact on New York's enormous day care industry, the state Legislature in May approved an...

Risk vs. reward as Barneys New York plans chancy move.
June 9, 2006... Byline: Dawn Wotapka Hardesty After 15 years, Barneys New York, one of the most recognized names in luxury retail, is gambling with its local presence. When its lease ends in February, Barneys will shutter its 15,000-square-foot...

Conversation with Ronald Pirich, an associate technical fellow with Northrop Grumman.
June 9, 2006... Byline: Jean Paul Vellotti Since 1977, Ronald Pirich has worked for Northrop Grumman in a variety of technical roles. Currently an associate technical fellow at Grumman's Integrated Systems Technology Development Center in Bethpage, Pirich...

NY Islanders and Catholic group to use new Internet distribution method to broadcast.
June 9, 2006... Byline: Jean Paul Vellotti For the faithful followers of the New York Islanders and Catholicism, an appeal to a higher power is second nature. And soon, both groups will use a new Internet distribution method to broadcast their message...

New study by SurePayroll finds small business hiring down, but salaries on the rise.
June 9, 2006... Byline: Adina Genn Small business hiring has dipped slightly in New York, but business owners are increasing salaries to retain quality employees, a new study shows. On Monday, SurePayroll, an Illinois-based payroll services firm,...

Commentary: LI Confidential.
June 9, 2006... Byline: Long Island Business News Editorial Parking violation A mysterious e-mail is floating around Riverhead. Sent by Kayla Johnston, kaylajohnston1@yahoo.com, the message says Supervisor Phil Cardinale has been "put on notice."...

Smithtown church addition planned, but some local residents oppose expansion.
June 9, 2006... Byline: Dawn Wotapka Hardesty Smithtown Gospel Tabernacle wants to grow by more than 50 percent, a move that fits local zoning regulations. Some local residents, however, oppose the expansion. Local leaders say there's not much they...

Commentary: Full steam ahead.
June 9, 2006... Byline: Long Island Business News Editorial This could be exactly what KeySpan Corp. has hoped for. Still smarting from the Long Island Power Authority's rejection of its Spagnoli Road power plant, the energy company stands to gain...

Commentary: Tomcat takes its bow as LI continues to fly.
June 9, 2006... Byline: Alfonse D'Amato The legendary Grumman F-14 Tomcat is about to become a permanent exhibit in aviation museums across the country and our national defense is going to be the poorer for it. This month the Navy fighter is...

Commentary: After being ignored, shareholders strike back.
June 9, 2006... Byline: Jerry Kremer There are all types of mini rebellions going on these days, but the fastest growing one is the stockholder revolt. No shots are being fired. No prisoners are being taken. But the stockholder revolution is alive and...

Commentary: The wages of greed.
June 9, 2006... Byline: James L. Larocca Greed is defined as a sin in most religions and ethical systems, and always has been. The American Heritage dictionary defines it as "an excessive desire to acquire or possess more than what one needs or deserves,...

Bold step: ARPA-E could tackle U.S. energy needs.
June 9, 2006... To the Editor: The steady blip of the Sputnik satellite was the clarion call to American technological innovation in the 1950s and '60s. Our nation's response to the Soviet Union's perceived technological advantage was wide ranging: It...

Long Island Financial Briefs: June 9, 2006.
June 9, 2006... Byline: David Reich-Hale Wachovia takes a multi-language approach While the political firestorm over immigration rages on, and the debate about whether English should be the official language continues, at least one bank is speaking a...