LI Business News articles from May 2004

LI Business News archives from May 2004

For auditors, gain from all that pain.
May 7, 2004... Byline: Ken Schachter One company's scandal is another company's windfall. That's the message from the proxy statements of companies such as Cablevision Systems and Symbol Technologies, whose payments to auditing firms skyrocketed in...

Albany eyes real estate transfer tax.
May 7, 2004... Byline: Rosmaria Mancini Two Long Island lawmakers have proposed a 2 percent transfer tax on real property sales as a means of funding open space preservation across the state. The proposal, which mirrors a tax already in effect on...

Service franchises hold advantages over retail operations.
May 7, 2004... Byline: Adina Genn Franchises are hot. Chain businesses employ more than 18 million - that's nearly 14 percent of the nation's jobs - and contribute nearly 10 percent of the non-government economy, an impressive $1.53 trillion, according...

Nixon Peabody mum about filling managing partner vacancy.
May 7, 2004... Byline: Rosmaria Mancini Nixon Peabody named Michael Taubin, a partner in the firm's health-care practice, interim managing partner of its Garden City office in February, right after Kevin Law left the top spot to serve as chief deputy and...

Scientific Industries posts gains despite proxy fight.
May 7, 2004... Byline: Ken Schachter For Helena Santos, the moment of decision came in the summer of 2002. Her boss, Lowell Kleiman, president and chief executive of Scientific Industries Inc. and son of the founder, was feuding with the board over...

An e-mail from the IRS? Don't believe it.
May 7, 2004... Byline: David Reich-Hale The Internal Revenue Service is warning taxpayers of an e-mail scheme that attempts to trick taxpayers into revealing personal information. In this ploy, unsuspecting consumers receive an e-mail claiming they...

Del Labs hits turbulence on southern relocation.
May 7, 2004... Byline: Claude Solnik In the long run, cosmetics manufacturer Del Laboratories expects to prosper by its move and consequent expansion down South, but the company will suffer growing pains first. Del Labs' sales for the first quarter,...

Bank of Smithtown sets HQ consolidation.
May 7, 2004... Byline: David Reich-Hale The Bank of Smithtown, which currently splits its executive offices between locations in Smithtown and Hauppauge, is consolidating its corporate headquarters by leasing much of the top floor at 100 Motor Parkway....

King Kullen freshening up image.
May 7, 2004... Byline: David Reich-Hale King Kullen, America's first supermarket, is fighting to keep its crown. The Bethpage-based company, which is planning to move into the old Swezey's department store site in East Setauket, is also in the midst...

CPI Aerostructures eyes expansion in wake of $215M order.
May 7, 2004... Byline: Ken Schachter A new component contract for the giant Air Force C-5 cargo jet worth as much as $215 million has prompted CPI Aerostructures Inc. to open negotiations on a larger facility and consider additional hiring. At 5 p.m....

E-Data Corp. back in court.
May 7, 2004... Byline: LIBN Staff E-Data Corp. is turning up the heat on two online distributors of photographs. The tiny Port Washington-based company has filed suit against Getty Images and Corbis in federal district court in Texas. The claim: that...

OSI Pharmaceuticals' stock has roller coaster week.
May 7, 2004... Byline: LIBN Staff OSI Pharmaceuticals' stock climbed to nearly $100 April 26 from less than $40 and slipped lower than $70 a week later, but only after insiders sold nearly $10 million in shares on the day of its peak. After reporting...

Long Island man returns to roots as CEO of Court TV.
May 7, 2004... Byline: Claude Solnik More than 25 years ago, Henry Schleiff left the world of Wall Street law firms behind as a young corporate associate at Davis Polk & Wardwell to work for Viacom. His tenure at the entertainment giant was long and...

Damianos Realty acquires Hillside site; 2 more in contract.
May 7, 2004... Byline: Nick Anastasi Damianos Realty Group has acquired the 75,000-square-foot office site at 222 Middle Country Road for $11 million in a deal that makes the family-run business the dominant player in the Smithtown office market. The...

Cablevision Systems switches real estate services firms.
May 7, 2004... Byline: LIBN Staff Cablevision Systems Corp. has tapped Cushman & Wakefield of Long Island to takeover the marketing exclusive at 300 Jericho Quadrangle from rival CB Richard Ellis. Cablevision spokesman Bill Powers would neither...

KeySpan's net income rises slightly.
May 7, 2004... Byline: LIBN Staff Boosted by a colder-than-usual winter, a sizzling electric business and a gas-rate hike in New England, KeySpan Corp. (NYSE: KSE) reported that first-quarter net income jumped to $247.7 million from $243.3 million a year...

'Green energy' co. goes public.
May 7, 2004... Byline: LIBN Staff New York International Log & Lumber Co. began trading under the ticker "NYIL" on the Nasdaq's Over-the-Counter market. The stock debuted at 60 cents. New York International describes itself as a "green, bio-energy...

Southwest Airlines to add Long Island/Las Vegas daily flight.
May 7, 2004... Byline: LIBN Staff With the anticipated addition of three new Boeing aircraft in August, Southwest Airlines is scheduled to add daily nonstop service each way between the Town of Islip's MacArthur Airport, where Southwest is the dominant...

Rep. Israel: Extend terrorism reinsurance program through '06.
May 7, 2004... Byline: LIBN Staff Rep. Steve Israel said he will work with Massachusetts Rep. Michael Capuano to introduce legislation to extend the government's terrorism reinsurance program, due to expire next year, through 2006. The program was...

Commentary: Message to Kerry: Condemn convention-crashing.
May 7, 2004... Byline: John Kiernan The campaign for the presidency has become so strident and the opposition to President Bush so militant that several groups are discussing ways to sabotage the Aug. 30 National Republican Convention by having...

Commentary: Shadows of McCarthyism in Bush campaign.
May 7, 2004... Byline: Jerry Kremer I love spring cleaning. For some, it's a time to clean out the garage. For others, it's that time of year when we rummage through the house to see what we should save or throw out. In the course of digging through...

Long Island Financial Briefs May 7, 2004.
May 7, 2004... Byline: David Reich-Hale Any charitable organization thinking about helping out the campaign of President Bush or Sen. John Kerry should first reach out to an accountant. And that accountant should probably tell them to keep their...

Glen Isle unveils waterfront plan for Glen Cove.
May 7, 2004... Byline: Nick Anastasi A proposal by Glen Isle Development to redevelop 46 acres in Glen Cove would bring new life to the city's waterfront and add a mix of retail, office and residential space stretching one mile to its downtown area. ...

Long Island Real Estate Briefs May 7, 2004.
May 7, 2004... Byline: Nick Anastasi The New York State Department of Transportation has awarded a $127,000 grant to improve rail access for Inter-County Bakers of Lindenhurst. The funds will be used to install a switch at the Long Island Rail Road...

Long Island Technology Briefs May 7, 2004.
May 7, 2004... Byline: Ken Schachter Verizon Wireless customers will be able to access their Yahoo! instant-messaging accounts and one of those in line to benefit will be Woodbury-based Comverse Technology (Nasdaq: CMVT), a report says. The reason:...

Long Island Legal Briefs May 7, 2004.
May 7, 2004... Byline: Rosmaria Mancini New York State Attorney General Eliot Spitzer has reached an agreement with online book seller Barnes & Noble.com that will correct an Internet security breach that exposed personal information of some of the...

Long Island Marketing Briefs May 7, 2004.
May 7, 2004... Byline: David Reich-Hale There's a new marketing gig on the block, FeverPitch Media Group, and the firm wants you to know it. In early April, marketing pros Scott Daugherty and Micah Warren formed FeverPitch, a Commack-based company...

Long Island Medical Briefs May 7, 2004.
May 7, 2004... Byline: Claude Solnik On the whole, these are good times in the health-care industry for HMOs, although some rain is still falling on the parade. The nation's HMOs earned $6.7 billion for the first nine months of 2003, up 52 percent...

Long Island entrepreneur keeps pace in footwear space.
May 7, 2004... Byline: Adina Genn Here's a jaunt that Imelda Marcos might enjoy: a visit to any one of the five Love My Shoes locations. That's where shoppers can choose among Von Dutch, Nicole Miller, DKNY, Anne Klein, BCBG and other brand names of...

Berdon LLP adds to staff.
May 7, 2004... Byline: Ryan McCormick Hamilton Dimaya was appointed principal of Berdon LLP, an accounting and advisory firm in Jericho. Dimaya is responsible for helping clients choose employee benefit plans. "For me, success boils down to hard work...

Charles A. Barragato & Co. names new partner.
May 7, 2004... Byline: Ryan McCormick Charles A. Barragato & Co., Smithtown, has appointed Angelo Pirozzi partner and head of the firm's new health-care tax and business advisory practice, where he will be responsible for developing and implementing a...

Chernoff Diamond & Co. appoints two associate pension consultants.
May 7, 2004... Byline: Ryan McCormick Chernoff Diamond & Co., an employee benefits advisory firm in Garden City, has appointed Kevin Hu and Corey Johnson associate pension consultants. In that role, they will be responsible for ensuring that client...

Dowling College names new assistant professor of mgmt.
May 7, 2004... Byline: Ryan McCormick Dr. Maureen Mackenzie was promoted to assistant professor of management at Dowling College, where she will teach courses in management behavior, personal management and organizational behavior. Previously, Mackenzie...

Technology Flavors & Fragrances names new VP, general mgr.
May 7, 2004... Byline: Ryan McCormick Richard J. Nikola Jr. was appointed vice president and general manager of Technology Flavors & Fragrances Inc., in Amityville. There, Nikola will be responsible for handling sales accounts, developing a network of...

Insurance Summit adds to advisory board.
May 7, 2004... Byline: Ryan McCormick Eugene Sayan was named to the advisory board of Insurance Summit, a group of insurance executives. Sayan is founder, chairman and chief executive officer of Softheon, a Hauppauge-based software company that...

Manchester Technologies adds to staff.
May 7, 2004... Byline: Ryan McCormick Lorraine Yarde has joined Manchester Technologies' software development and operations consulting division as director of sales. Yarde, who earned her bachelor's degree in business administration from Croydon...

LI Turnaround Management Assn. adds to board.
May 7, 2004... Byline: Ryan McCormick Jeffrey L. Bass was recently appointed to the board of the Long Island Turnaround Management Association, in Woodbury. Bass, the principal of Margolin, Winer & Evens LLP, an accounting and business advisory firm...

Heartland Business Center has new director of leasing.
May 7, 2004... Byline: Ryan McCormick Sheldon B. Friedman was appointed director of leasing for the Heartland Business Center in Edgewood. He will be responsible for the leasing, sales and promotion of industrial space in the Heartland Corporate Center....

Sigma Staffing announces promotions.
May 7, 2004... Byline: Ryan McCormick Sigma Staffing in Melville has appointed Ronda Scharlat vice president, Melanie Ford vice president of operations and Hally R. Gottlieb director of the accounting and finance division. Scharlat, who earned her...

Two Long Island women head to invention show.
May 7, 2004... Byline: LIBN Staff When it comes to successfully bringing products to the masses, inventors say there's a learning curve. Just ask Carolyn Barbarite, creator of the AlliClip, a device for storing and organizing sports equipment, gardening...

The Cody Comedy Festival 2004 scheduled.
May 7, 2004... Byline: LIBN Staff The Cody Comedy Festival 2004 will take place at Stony Brook University on May 14. And it's for a good cause: the Matt and Debra Cody Center for Autism and Developmental Disabilities at Stony Brook University. Wali...

Golf classic to benefit Cancer Society.
May 7, 2004... Byline: LIBN Staff The 7th Annual Ann Liguori American Cancer Society Golf Classic will take place in Westhampton June 28. Participation in the event is open to men and women golfers of all abilities, and slots for individuals and...

American Lung Assn. holding 2nd Annual Casino Night.
May 7, 2004... Byline: Ryan McCormick People looking to build their businesses while supporting a worthwhile cause are in luck. About 200 Long Island professionals are expected to attend the American Lung Association's 2nd Annual Casino Night/Breathe...

Roslyn Savings supports the nature program.
May 7, 2004... Byline: Ryan McCormick The Roslyn Savings Foundation recently awarded the Nature Conservancy a $10,000 grant in support of the Conservancy's Volunteer Stewardships Program. Funds will be used to purchase preserve equipment. The...

Long Island Cares outing set for June.
May 7, 2004... Byline: Ryan McCormick Long Island Cares Inc., The Harry Chapin Food Bank will host its 8th Annual Golf Classic at Bethpage State Park on June 16. Being honored at this year's classic is Sister Marie Flaherty, director of human...

Taking steps toward a sustainable Long Island.
May 7, 2004... Byline: Ryan McCormick Sustainable Long Island advocates for economic development and environmental health for all Long Islanders, addressing issues such as downtown revitalization and brownfields redevelopment. "We work directly with...

After 10 years ... LLPs, LLCs are 'entities of choice'.
May 7, 2004... Byline: Claude Solnik A decade after limited liability designations debuted in New York, accountants say they have become the entities of choice for new companies in the state. Limited liability designations fall under two categories:...

New regs turn accountants into private eyes.
May 7, 2004... Byline: Claude Solnik While accountants have always had to look for wrongdoing when they perform an audit, they've been required to look harder to ferret out fraud since new standards went in effect last December. They have, they say,...

Not-for-profits not necessarily charitable write-off.
May 7, 2004... Byline: Claude Solnik Most people are familiar with one or two types of not-for-profit organizations: charities, which can accept tax-deductible contributions under Internal Revenue Service code 501(c)(3), and trade groups, created under...

College savings plans gaining steam.
May 7, 2004... Byline: David Reich-Hale They remain the great secret of the financial planning industry, though some brokers have started peddling them more aggressively. They are 529 plans, otherwise known as 401(k) plans for college savings, and...

Cablevision appoints president of cable, communications division.
May 7, 2004... Byline: Ryan McCormick John Bickham was appointed president of the cable and communications division of Cablevision, in Bethpage. There he will be responsible for overseeing the entire division, from sales to client relations. ...

Long Island nonprofits announce staffing changes: May 7, 2004.
May 7, 2004... Byline: Ryan McCormick Shaida Khan, Vera Moore, Kathy Munsch and Theresa A. Regnante were appointed board members of the Long Island Fund for Women & Girls in Bethpage. Khan is chairperson of the Domestic Harmony Committee of the...

Hampton Jitney to offer Wi-Fi on the road.
May 14, 2004... Byline: Ken Schachter Hampton Jitney is rolling out a service that will let travelers surf the Web before they hit the beach via one of the nation's first Wi-Fi networks on a U.S. bus line. The service, offered through Wi-RAN, a joint...

Jobless rate continues to rise on Long Island.
May 14, 2004... Byline: Rosmaria Mancini The economy may be improving, but unemployment rates on Long Island and throughout the nation don't appear to be following suit. The number of employed residents on Long Island has remained unchanged in the...

Riverhead: Enterprise Park in Calverton subdivision coming soon.
May 14, 2004... Byline: Nick Anastasi The tiger salamander is an endangered species that spends most of its life underground. And that's where some people would like it to stay. It's not that those folks have anything against the salamander, per se,...

North Fork Bank acquiring The Trust Company of New Jersey.
May 14, 2004... Byline: LIBN Staff North Fork's wasting no time plastering its logo around the Garden State. The bank expected to close on its acquisition of The Trust Company of New Jersey May 13, and by early next week, canvas North Fork signs will...

LI Power Authority planning 'mock blackout'.
May 14, 2004... Byline: LIBN Staff Where were you when the lights went out Aug. 14, 2003? How did you handle it and are you ready for another blackout? Well, pencil one in on your calendars for June 10. The Long Island Power Authority, adhering to the...

Suffolk County National Bank building up commercial loan business.
May 14, 2004... Byline: David Reich-Hale Suffolk County National Bank is targeting construction and multi-family building loans to expand its commercial real estate loan portfolio. The bank, which has about $440 million in commercial loans and...

Long Island company working to improve interactive voice response systems.
May 14, 2004... Byline: Ken Schachter Any caller to a corporate office knows the drill: "Welcome to [insert company name here]," says the perky voice. "To reach sales, press one, to reach marketing, press two, to reach the executive offices, press three....

Viatronix approved for colon cancer screening.
May 14, 2004... Byline: Claude Solnik In what may prove to be a giant step forward for virtual colonoscopy, Viatronix Inc. has won the first approval by the Food and Drug Administration to use a virtual colonoscopy device to screen and diagnose colon...

Brookhaven eyes fixes to its commercial building code.
May 14, 2004... Byline: Nick Anastasi When the Town of Brookhaven adopted a new commercial building code last August, it caused an immediate furor among developers, who called it unnecessarily complicated, overly restrictive and a bane to future...

After charter change, Bethpage Federal Credit Union targets aggressive growth.
May 14, 2004... Byline: David Reich-Hale Bethpage Federal Credit Union has a message for almost anyone with a connection to Long Island: Come join us. And it plans on getting that message out all summer long, through increased advertising and...

Henry Schein to create 800 new jobs.
May 14, 2004... Byline: LIBN Staff Joined by Gov. George Pataki, officials at Henry Schein Inc. said the company will expand its corporate headquarters in Melville and create 800 new jobs at its headquarters and other office locations on Long Island. ...

Mall developer closes on former Cerro Wire site.
May 14, 2004... Byline: LIBN Staff Mall developer Taubman Centers Inc. said it has closed on the acquisition of the former Cerro Wire site from WPIX Inc., a subsidiary of the Tribune Co., and is seeking a permit to demolish buildings on the site to make...

Roslyn Savings' parent to sell?
May 14, 2004... Byline: LIBN Staff New York Community Bancorp Inc. announced that its board of directors has authorized the company's management team to engage Bear Stearns & Co., Citigroup Global Markets and Sandler O'Neill & Partners to review its...

LI Power Authority warns of possible 'surcharge'.
May 14, 2004... Byline: LIBN Staff Long Island Power Authority Chairman Richard Kessel said the shutdown of the Cross-Sound Cable could result in $15 million to $18 million in higher power costs this year "that will have to be borne ultimately by LIPA and...

Commentary: EPA to allow dumping in Long Island Sound.
May 14, 2004... Byline: Martin Cantor Sometimes you've got to wonder what motivates the thinking at the Environmental Protection Agency. What carries more weight in their decisions? Is it the economic costs of environmental preservation or is it the...

Commentary: Ranks depleted on war against terrorism.
May 14, 2004... Byline: John Kiernan The newspaper articles last weekend about the lack of training and preparation of military police units assigned to the Abu Ghraib prison were shocking. But other information to emerge from those accounts reveals...

Commentary: Committee creation: creative procrastination.
May 14, 2004... Byline: Jerry Kremer Are you a procrastinator? You know the people I'm talking about - the ones who go to the Manhattan Post Office at 11:55 p.m. April 15 to file their income-tax returns. The ones who, as students, stayed up all night to...

Long Island Technology Briefs May 14, 2004.
May 14, 2004... Byline: Ken Schachter In recent years, most tech executives would do backflips of joy if they could string together three consecutive quarters in the green. At Netsmart Technologies Inc., however, Chief Executive Officer James Conway...

Long Island Real Estate Briefs May 14, 2004.
May 14, 2004... Byline: Nick Anastasi Home sales on Long Island surged in March despite falling sale prices, according to the Albany-based New York State Association of Realtors. In Nassau, NYSAR reported the sale of 633 existing single-family homes,...

Long Island Legal Briefs May 14, 2004.
May 14, 2004... Byline: Rosmaria Mancini State Attorney General Eliot Spitzer reached a deal with the nation's top recording companies that returns nearly $50 million in unclaimed royalties to thousands of performers. The agreement comes after a...

Long Island Marketing Briefs May 14, 2004.
May 14, 2004... Byline: LIBN Staff Elaine Ryder Thompson doesn't play golf, but she's well known in the sport's inner circle. And her fame there is about to grow further. The U.S. Golf Association has commissioned Thompson to paint and design a...

Long Island Medical Briefs May 14, 2004.
May 14, 2004... Byline: Claude Solnik The Hospice Care Network, one of the largest hospice-care providers in New York State, has hired Welch Nehlen Groome Inc. to promote its growing network. The Melville-based organization recently opened the Inn at...

Entrepreneurship 101: Teaching business basics.
May 14, 2004... Byline: Adina Genn On a recent Wednesday evening, nearly 20 entrepreneurs - some with only the germ of an idea for a new venture and others in need of skills they hadn't picked up along the way - gathered for a lecture about marketing, and...

Ambassador Promotions brings 'Sin City' appeal to Long Island events.
May 14, 2004... Byline: Adina Genn Long Island events may see some Las Vegas glitz, thanks to Dave D'Orazio, president of St. James-based Ambassador Promotions. That's because D'Orazio, who started Ambassador in September 2003, is bringing a little Vegas...

Gepco International appoints Northeast sales rep.
May 14, 2004... Byline: Ryan McCormick Michael Pollaccio was appointed Northeast sales representative at Gepco International, based in Port Jefferson. He will be responsible for meeting with television and radio broadcasters and will tout the capabilities...

Bank of Smithtown announces staffing changes.
May 14, 2004... Byline: Ryan McCormick Teri George was appointed branch manager and Deborah McElroy was appointed human resources manager at the Bank of Smithtown. George, who will be responsible for managing staff, customer relations, retail sales...

Hampton Conservatory appoints conservatory designer.
May 14, 2004... Byline: Ryan McCormick Brian Kaller was appointed conservatory designer at Hampton Conservatories, which designs and installs glass-enclosed extensions on homes. His responsibilities will include helping clients choose a conservatory...

Dowling College appoints associate professor of biology.
May 14, 2004... Byline: Ryan McCormick Dr. Richard Wilkens was appointed associate professor of biology and natural sciences at Dowling College, where he will be responsible for teaching several undergraduate courses in general biology, invertebrate...

John T. Mather Memorial Hospital adds to staff.
May 14, 2004... Byline: Ryan McCormick Radiologist and Breast Imaging Specialist Dr. Jane Testa was appointed to the medical staff of John T. Mather Memorial Hospital in Port Jefferson. Previously, Testa was attending radiologist at St. Vincent's Hospital...

Symbol Technologies announces staffing changes.
May 14, 2004... Byline: Ryan McCormick Todd Abbott was appointed senior vice president of worldwide operations at Symbol Technologies in Holtsville. Thomas Collins was named vice president of worldwide supply-chain operations at Symbol. Abbott is...

Long Island law firms announce staffing changes: May 14, 2004.
May 14, 2004... Byline: Ryan McCormick George Brieger was appointed patent attorney at Scully, Scott, Murphy & Presser, an intellectual-property law firm in Garden City. Brieger will assist in preparing and prosecuting U.S. and international patent...

Brookhaven National Laboratory announces promotion.
May 14, 2004... Byline: Ryan McCormick The U.S. Department of Energy's Brookhaven National Laboratory in Upton has promoted Jeanne D'Ascoli to manager of the community relations office, where she will be responsible for getting the Long Island community...