LI Business News articles from November 2005

LI Business News archives from November 2005

Computer Associates is staying put on Long Island.
November 1, 2005... Byline: Carl Corry Computer Associates International is staying on Long Island, the company's top executive said Tuesday. "You've probably read that CA is leaving Long Island. That is not true," said President and Chief Executive Officer...

OSI Pharmaceuticals shares slip as sales miss analysts' target.
November 1, 2005... Byline: Ken Schachter Shares of OSI Pharmaceuticals Inc. slid 2 percent to $22.81 Tuesday after the maker of anti-cancer drug Tarceva posted third-quarter sales that were below analysts' expectations. Revenue was $34 million, more than...

Health-care products distributor Henry Schein OKs $100M share buyback.
November 1, 2005... Byline: Claude Solnik Health-care products distributor Henry Schein Inc. (Nasdaq: HSIC) has approved buying back $100 million in additional shares, increasing its repurchase program to $118.8 million. Schein approved the additional shares...

CPI Aerostructures Inc. lands $6.6M fighter plane order.
November 2, 2005... Byline: Claude Solnik CPI Aerostructures Inc. said that the U.S. Air Force has ordered $6.6 million in parts to be used in its T-38 Talon aircraft, used to train fighter pilots.CPI (AMEX: CVU) said that it will provide the Air Force with...

Cablevision OKs $3B dividend.
November 2, 2005... Byline: Ken Schachter Shares of Cablevision Systems Inc. rose 35 cents, or 1.4 percent, to $25.76 on heavy volume Wednesday after the company's board said it would pursue the controlling Dolan family's proposal to pay a $3 billion special...

Citibank passes on ground floor of Long Island building.
November 2, 2005... Byline: Dawn Wotapka Hardesty Reckson's new Melville showpiece might not be full after all.Citibank, which had been negotiating to fill the 300,000-square-foot building just off the Long Island Expressway, is reportedly passing on a chunk...

Systemax Inc. increases credit line to $120M.
November 3, 2005... Byline: Claude Solnik Systemax Inc. has expanded its primary credit facility from $97 million to $120 million, the company announced Wednesday.The computer manufacturer and retailer said that JPMorgan Chase was the lead financial...

Stony Brook University files to take title of Flowerfield property.
November 3, 2005... Byline: Ken Schachter Just days after Gyrodyne Company of America Inc. disclosed that negotiations on a sale had broken off, Stony Brook University has filed to take title to 245 acres of the Flowerfield property, the company said. The...

Symbol Technologies stock jumps on earnings surprise.
November 3, 2005... Byline: Ken Schachter Symbol Technologies Inc. stock leaped 21 percent, or $1.71, to $9.83 Thursday afternoon after the maker of handheld computers and barcode scanners posted third-quarter earnings per share that was double what analysts...

Suffolk County turns to biodiesel for fleet.
November 3, 2005... Byline: Jeremy Harrell If the Marines can do it, so can Suffolk County government. Within the next year, Suffolk will rely on biodiesel for 25 percent of its fleet's fuel, according to County Executive Steve Levy and Legis. Daniel...

Globecomm Systems beats Wall Street estimates.
November 3, 2005... Byline: Ken Schachter Shares of Globecomm Systems Inc. climbed 4 percent, to $7.75 Thursday after posting first quarter net income of $800,000, or 5 cents per diluted share, two cents higher than the consensus estimate of analysts polled...

Griffon Corp. net income jumps by 20%.
November 3, 2005... Byline: Claude Solnik Boosted by strong business at its Telephonics subsidiary, Griffon Corp. said fourth-quarter net income rose 20 percent to $22.6 million as net sales rose 6 percent to $388.4 million. The firm said Telephonics, which...

Solar-to-electricity systems sales increase on Long Island.
November 4, 2005... Byline: Ken Schachter Sales of home solar-to-electricity systems on Long Island have been sizzling this year, installers say, as homeowners react to a flurry of new tax incentives coupled with a hefty electrical fuel surcharge and a...

'Single and separate' lots fetching high prices on Long Island.
November 4, 2005... Byline: Dawn Wotapka Hardesty The four new houses in Islip contain features that top homebuyers' wish lists: maple kitchen cabinets, stainless steel appliances and hard oak floors. They also have a great view of the Sunrise. As in...

Christmas-tree salesman runs into problems with town codes.
November 4, 2005... Byline: Jeremy Harrell There was a moment last November when Christmas-tree salesman Steve Bay didn't feel like decking halls, striking harps or being jolly. A semi had just dropped off 1,200 Nova Scotia balsams and Fraser firs onto an...

Motorola's new line of handheld computers may eat into Symbol Tech.'s market share.
November 4, 2005... Byline: Ken Schachter Some big headlights are looming in the rearview mirror of Symbol Technologies. Motorola Inc., the No. 2 mobile phone maker, has launched the first of a new line of handheld computers aimed squarely at Symbol's...

North Fork Bankcorp on the hook for $600K.
November 4, 2005... Byline: David Reich-Hale Four years after it bought Commercial Bank of New York for $175 million, North Fork Bancorp is still paying for the deal. The state Court of Appeals ruled Oct. 21 that a Brazilian resident is entitled to a full...

Rechler Equity Partners's vacancy at lowest point.
November 4, 2005... Byline: Dawn Wotapka Hardesty For its second anniversary, industrial powerhouse Rechler Equity Partners scored quite a gift: a more-than 100,000-square-foot lease that helps push its vacancy to a record low. LNK International Inc., a...

Arrow Electronics on takeover trail.
November 4, 2005... Byline: LIBN Staff Electronics distributor Arrow Electronics is known for the breadth of its product line, but not its appetite for acquisitions. That could be changing. In less than a week, Arrow announced two acquisitions: a...

County sets up meetings to gather public input on Yaphank land.
November 4, 2005... Byline: LIBN Staff The public is finally getting its say when it comes to how county-owned land in Yaphank will be developed. The county set up three meetings to gather input about what residents want to see developed on 300 acres off the...

Trials show brain cooling cap may reduce or eliminate newborn brain damage.
November 4, 2005... Byline: Claude Solnik Birth is a miracle. But Thomas Roesler needed two. When he was born July 22, 2001, his heart and breathing stopped. Doctors at Schneider Children's Hospital tried conventional methods such as a blood transfusion...

Shares of Computer Associates up 4%.
November 4, 2005... Byline: David Reich-Hale Shares of Computer Associates International rose 4 percent, to $27.84 the week ended Oct. 28, after the software maker reversed a year-ago loss to post second-quarter net income of $41 million. CA (NYSE: CA)...

Commentary: Development in Yaphank, slow but sure.
November 4, 2005... Byline: LIBN Staff As Nassau County exec Tom Suozzi has learned, there's such a thing as moving too quickly with development. Suozzi won kudos on this page earlier this year for his ambitious plan to develop the area surrounding Nassau...

Commentary: Time for LI voters to be heard.
November 4, 2005... Byline: Martin Cantor The results of Election Day could bring dramatic changes in the political fortunes of the Nassau and Suffolk county executives. In Nassau County, County Executive Tom Suozzi is watching two Election Day results....

Commentary: Charities are victims of the hurricanes.
November 4, 2005... Byline: Vince Polimeni Hurricanes Katrina and Wilma. Asian tsunamis. Pakistani earthquakes. Long Islanders living alone, hungry and near poverty. For hundreds of thousands of Long Islanders the place to send charitable dollars is obvious....

Commentary: Vote yes on the transportation bond act.
November 4, 2005... Byline: John Kiernan Next Tuesday voters will go to the polls to elect local government officials to city, town and county office. On Long Island, control of both the Nassau and Suffolk County legislatures are at stake. There is...

Commentary: In politics, what a difference a year makes.
November 4, 2005... Byline: Jerry Kremer A lot can happen in a year. Last year's victors can become this year's buffoons. A quick look over the shoulder reveals that many of last year's players have seen their fates change dramatically. The changing...

PA-based Sovereign Bancorp to buy Brooklyn's Independence Community Bank Corp.
November 4, 2005... Byline: David Reich-Hale Pennsylvania-based Sovereign Bancorp shook up the market last week when it agreed to buy Brooklyn's Independence Community Bank Corp. on Oct. 24. Sovereign paid $3.6 billion, a 29 percent premium, or 15 times...

Long Island Financial Corp. releases third-quarter earnings.
November 4, 2005... Byline: David Reich-Hale Long Island Financial Corp.'s third-quarter earnings, released on Oct. 25, is probably its last. On Dec. 31, the Islandia-based bank is scheduled to go the way of Republic Bank, EAB, and for the real grizzled...

Long Island politicians seek end to alternative minimum tax.
November 4, 2005... Byline: David Reich-Hale Tax season is nearly upon us, and it's only a matter of time until we start to hear the yearly alternative-minimum tax horror stories. Originally enacted to ensure that wealthy people pay their fair share of...

Wireless Ink helping promote The Veronicas.
November 4, 2005... Byline: Ken Schachter The music business is always looking for a marketing edge with the teen crowd. That's why Warner Bros. Records went to Long Island's Wireless Ink to promote The Veronicas. The Veronicas, in case you hadn't heard,...

Cablevision unit to debut films in theaters, on video-on-demand.
November 4, 2005... Byline: Ken Schachter The time between movies' theatrical debuts and their release on video has been steadily shrinking in recent years. Now a Cablevision unit plans to eliminate the gap entirely, a report says. The Hollywood Reporter...

Stony Brook Univ. researchers working on candy that fights cavities.
November 4, 2005... Byline: Ken Schachter Candy that fights cavities? Though it goes against the TANSTAAFL (there ain't no such thing as a free lunch) theory, that's exactly what researchers at Stony Brook University and Ortek Therapeutics of Roslyn...

BAE Systems grabs contracts for 'friend-or-foe' systems.
November 4, 2005... Byline: Ken Schachter BAE Systems' Greenlawn unit has snared two contracts for its common interrogator transponders. The "friend-or-foe" systems are used to ensure that aircraft do not come under friendly fire. The company won a $3...

Security concerns slow VoIP adoption by small and mid-sized businesses.
November 4, 2005... Byline: Ken Schachter Small and mid-sized businesses are shying away from Internet telephony because of fears that communications are not secure, a new study says. A survey of 300 U.S. businesses with 20 to 500 employees by Computing...

In-Stat: U.S. wireless users consider cutting the cord.
November 4, 2005... Byline: Ken Schachter U.S. cell phone users are thinking about cutting the cord, a new study says. A report by technology researcher In-Stat found that 23 to 37 percent of mobile phone users will use their cellular phone as their...

Lobbies take center stage in office redos.
November 4, 2005... Byline: Dawn Wotapka Hardesty Forget building exteriors and executive suites. Long Island's office lobbies - a bulk built in the architecturally unfortunate 1970s and 1980s - are receiving plenty of attention. They're being improved....

Rechler Equity Partners hits one million square feet in transactions.
November 4, 2005... Byline: Dawn Wotapka Hardesty As of the third quarter, Rechler Equity Partners completed 44 lease transactions totaling nearly one million square feet. The deals - 502,000 square feet of new leases and 479,387 square feet of renewals and...

North Shore-Long Island Jewish Health System subleases space in Manhasset.
November 4, 2005... Byline: Dawn Wotapka Hardesty Seems like the North Shore-Long Island Jewish Health System just can't lease enough Long Island space. Months after inking what could be the Island's biggest lease ever - a 25-year deal for more than 450,000...

Barnes & Noble opens new Long Island store.
November 4, 2005... Byline: Dawn Wotapka Hardesty Barnes & Noble Inc. opened the largest of their six Long Island shops in Carle Place. The 30,000-square-foot store at 91 Old Country Road is brimming with more than 200,000 books, CDs, DVDs and magazine...

Nassau lawyers search for more diversity.
November 4, 2005... Byline: Jeremy Harrell The Nassau County Bar Association recently found out how many minority lawyers practicing in the county belong to the organization. The results weren't pretty - about 1 percent. "Shockingly low," said Latonia...

Civil rights atty. records classic-era rock 'n roll album.
November 4, 2005... Byline: Jeremy Harrell Civil rights attorney Lenard Leeds said he's spent his whole life fighting for people in court. "Now I'm fighting for people on stage," said Leeds, a partner with Leeds, Morelli & Brown in Carle Place. At a Nov....

How to make money out of the melting pot.
November 4, 2005... Byline: Adina Genn Back in May 2004, when young Kunjan Mehta moved to the United States from his native India he was lucky in one way. At least his wife had secured the kind of visa that allowed her to work here. Mehta, a trained...

Commentary: How to work a room and have fun doing it.(Interview)
November 4, 2005... Byline: Ronen Yaari Cat got your tongue at networking events? Susan RoAne is here to help. She's a professional speaker and the author of several books, including "How to Work a Room" which has sold more than a million copies worldwide....

Carol C. Markman named to Top 100 Most Influential People in Accounting list.
November 4, 2005... Byline: Henry E. Powderly II There is little free time in Carol C. Markman's day, being a partner in an accounting firm and a president of a national CPA conference. Her hard work has not gone unnoticed. She was named one of the Top 100...

Long Island accounting firms announce staffing changes: November 4, 2005.
November 4, 2005... Byline: Henry E. Powderly II Gettry Marcus Stern & Lehrer, which has offices in Manhattan and Woodbury, named Robin Rokuson partner. She is a member of the New York State Society of Certified Public Accountants and the American Institute...

D. Pagan Communications names account executive.
November 4, 2005... Byline: Henry E. Powderly II Melville-based D. Pagan Communications named Christopher Walsh an account executive. He had been senior writer and pro audio editor for Billboard Magazine and editorial director of the Billboard Musician's...

Long Island law firms announce staffing changes: November 4, 2005.
November 4, 2005... Byline: Henry E. Powderly II Uniondale-based Ruskin Moscou Faltischek named Barry R. Carus counsel in its corporate and securities department. Carus has worked for several law firms, including Thelen Reid & Priest in Manhattan and his own...

Long Island not-for-profits announce staffing changes: November 4, 2005.
November 4, 2005... Byline: Henry E. Powderly II The National Multiple Sclerosis Society Long Island Chapter promoted Victoria Cella to development manager. She had been the organization's programs coordinator. NMSSLI also named Kasie Quinn finance...

Long Island real estate firms announce staffing changes: November 4, 2005.
November 4, 2005... Byline: Henry E. Powderly II American Brokers Conduit in Melville, the wholesale division of American Home Mortgage Investment Corp., named Robin Hawley senior vice president. She previously worked for Washington Mutual. Century 21...

Long Island technology firms announce staffing changes: November 4, 2005.
November 4, 2005... Byline: Henry E. Powderly II Melville-based A.B. Computer Systems named Steven Foong project manager for implementation of its accounting, distribution, manufacturing, service, Internet commerce and CRM software. He has 16 years experience...

Former model opens spa/beauty products shop in Huntington.
November 4, 2005... Byline: Henry E. Powderly II Rachel West will choose the action behind the camera to the rigors of the runway anytime. The 30-year-old former model no longer craves the bright lights. "I love the makeup end," she says. These days...

Dolan Family Health Center delivers health care for all Long Islanders.
November 4, 2005... Byline: Henry E. Powderly II Health care costs have increased exponentially over the past few years. As a result, some communities have been grossly underserved; leaving many people unable to receive proper treatment. The Dolan Family...

Community Programs Center to hold seminars.
November 4, 2005... Byline: Henry E. Powderly II Day Haven Adult Day Services in Port Jefferson, run by the Community Programs Center of Long Island, will offer several events designed for families that care for an elderly person with Alzheimer's disease. ...

Good Samaritan Hospital Medical Center, WALK Radio create CD to benefit breast cancer services.
November 4, 2005... Byline: Henry E. Powderly II Good Samaritan Hospital Medical Center in West Islip collaborated with WALK Radio to create a music CD to benefit the hospital's breast cancer services. The CD, titled "Yesterday and Today," is a compilation CD...

National Family Week is Nov. 20 - 26.
November 4, 2005... Byline: Henry E. Powderly II Nov. 20 through Nov. 26 is National Family Week, and, to commemorate that, two Long Island not-for-profit groups have planned events. Family and Children's Association will hold an anniversary dinner and...

Sales of real Christmas trees growing, while fake sales decline.
November 4, 2005... Byline: Jeremy Harrell Last year, Americans spent $1.15 billion on 27 million pines, according to the National Christmas Tree Association, a trade group based outside St. Louis. But purveyors of "real" trees, as the association likes to...

East End Women's Network accepting 2005 Woman of the Year award nominations.
November 4, 2005... Byline: Adina Genn The Riverhead-based East End Women's Network is accepting nominations for its 2006 Woman of the Year award. The ideal candidate is active in commerce, education, government or the arts. She receives monetary...

Bethpage-based Well-Being Concepts holding business seminar.
November 4, 2005... Byline: Adina Genn Bethpage-based Well-Being Concepts, a provider of business leadership workshops, is holding its second seminar, "Business at a Tipping Point: Global Trends Affecting Your Business Today." The event takes place Nov. 17...

Slow holidays for retailers?
November 4, 2005... Byline: Adina Genn With consumer confidence dipping to a new two-year low in October, retailers are concerned that strong spending habits of Long Islanders will come to an end when the first home-heating bills to come due. To hedge...

Lawyers can gain unique perspective by serving jury duty.
November 4, 2005... Byline: Adina Genn Even though they get paid to convince juries, trial attorneys see the jury room as unknown territory. After presenting cases, they can only imagine what goes on behind those closed doors. Tom Czik finally got a...

Elder friendly courtroom debuts.
November 4, 2005... Byline: Claude Solnik On Sept. 16, the Steston University College of Law in Tampa Bay, Fla. opened its prototype of a futuristic courtroom. Designed to be more user friendly for the elderly and disabled, the court has electric doors, touch...

NY State Bar seeks young lawyer nominees.
November 4, 2005... Byline: Claude Solnik The Young Lawyers Section of the New York State Bar Association is seeking nominations for its 2006 Outstanding Young Lawyer Award. The award is given annually to an attorney who has actively practiced less than...

Jaspan Schlesinger Hoffman partner edits eminent domain text.
November 4, 2005... Byline: Claude Solnik Jon N. Santemma, a partner at Jaspan Schlesinger Hoffman, has edited "Condemnation Law and Procedures in New York," a book about the use of eminent domain. The book is particularly timely, following the widely...

Independent Community Bankers of America seek 404 exemption.
November 4, 2005... Byline: Claude Solnik The Independent Community Bankers of America is working to convince Congress that the Sarbanes-Oxley Act of 2002 disproportionately impacts community banks. Consequentially, it wants changes made to reduce the burden....

Interview with Allan Hyman, senior partner Certilman Balin Adler & Hyman.
November 4, 2005... Byline: Claude Solnik Allan Hyman is involved in some of the biggest land battles on Long Island. He has both pushed forward construction and fought to block the bulldozers. Hyman, senior partner at Certilman Balin in charge of...

Searching for an edge, lawyers turn to Google.
November 4, 2005... Byline: Claude Solnik When attorney Russell Corker gets a case, he burns through the information provided by the client and whatever information he can find from legal proceedings. Then he turns to Google, which leads him to loads of data...

Expert witnesses prove their worth, sometimes too much.
November 4, 2005... Byline: Claude Solnik Expert testimony is nothing new but who could have thought it would sprout into a growth industry. Today there are so many experts willing to go into court for you that they have their own telephone directory, a book...

Commentary: Lawyers weave the Web into marketing efforts.
November 4, 2005... Byline: Claude Solnik Your law firm spent a great deal of time and money perfecting its Web site. But so did every other firm in your region and practice area. So your site is as distinct as an emperor penguin in a huddle during a...

Long Island lawyers: Five to watch.
November 4, 2005... Byline: Claude Solnik Brendan J. DeRiggi Partner Certilman Balin Adler & Hyman DeRiggi is a go-to attorney for firms seeking Small Business Association loans. In the past year, he has closed loans in 31 states for seven...

Daniel T. McGowan takes helm at HIP Health Plan of New York.
November 4, 2005... Byline: Claude Solnik Daniel T. McGowan, president and chief operating officer of HIP Health Plan of New York, is assuming the additional title of president of Vytra Health Plans. He succeeds Thomas J. McAteer Jr., who joined Vytra in 1993...

Real estate on the rise, experts say.
November 4, 2005... Byline: Dawn Wotapka Hardesty CB Richard Ellis thinks better times are a'coming. At a presentation before real estate professionals at the Garden City hotel, Mary Ann Tighe, CEO of CBRE's New York Tri-State region, said the "region is in...

Sen. Hillary Rodham Clinton stumps for transportation bond.
November 7, 2005... Byline: Jeremy Harrell Sen. Hillary Rodham Clinton led supporters Monday in a final Long Island push for a $2.9 billion transportation bond to boost transit and highways. "This is part of an overall plan to make sure New York remains...

Long Island-based Computer Associates International divests most of Ingres unit.
November 7, 2005... Byline: Ken Schachter Computer Associates International has spun off its Ingres open-source database unit and transferred majority ownership to a private equity firm, the company announced Monday. Though CA (NYSE: CA) maintains a stake in...

Cablevision increases speed of its Optimum Online Internet service.
November 7, 2005... Byline: Ken Schachter Cablevision Systems Corp., faced with new competition as Verizon Communications installs its fiber-optic service, has increased the speed of its based Optimum Online Internet service and rolled out two new...

Nathan's Famous Inc. income rises.
November 7, 2005... Byline: Claude Solnik Nathan's Famous Inc. reported second-quarter net income jumped to $3.1 million, from $1.1 million, boosted by a $1.7 million gain from the sale of real estate. Earnings from continuing operations increased by 26...

NYCB's Long Island Commercial buy gets state regulatory approval.
November 7, 2005... Byline: David Reich-Hale The New York State Banking Department has approved New York Community Bancorp's $70 million acquisition of Long Island Financial. NYCB originally announced its intention to buy the parent company of Long Island...

One of Long Island's largest homebuilders plans sale to national firm.
November 8, 2005... Byline: Dawn Wotapka Hardesty Beechwood Organization, one of the largest Long Island homebuilders, has signed a letter of intent to be acquired by Irvine, Calif.-Standard Pacific Homes, co-founder Michael Dubb said Tuesday afternoon.Due...

Long Island home prices drop slightly.
November 8, 2005... Byline: Dawn Wotapka Hardesty Long Island's housing prices dipped slightly in October, fueling speculation that the once overactive housing market is flattening.Nassau's median closing price was $485,000, down from $500,000 in September,...

Long Islanders take part in close elections.
November 8, 2005... Byline: Jeremy Harrell Voters in Nassau and Suffolk counties have the opportunity to swing the balance of power Tuesday in a number of local government elections.In Nassau, Democrat County Executive Thomas Suozzi, the incumbent, appears to...

Long Island-based Cablevision adds telecom subscribers, but posts loss.
November 8, 2005... Byline: Ken Schachter Shares of Cablevision Systems climbed 20 cents, or 1 percent, to $25.76 Tuesday after the cable provider reported third quarter growth in its telecommunications business was offset by an increase in interest...

Sighinolfi out, Tucker in at Hilton Long Island.
November 9, 2005... Byline: David Reich-Hale Robert Sighinolfi, recently ousted as general manager of the Hilton Long Island, has landed in Connecticut. Sighinolfi, who held the GM position at the hotel for two years, has taken on the same role at the Hilton...

Southampton Hospital's CEO exits, interim chief named.
November 9, 2005... Byline: Claude Solnik Annette B. Leahy has resigned as chief executive officer of Southampton Hospital. John N. Kastanis, former CEO of the Hospital for Joint Diseases in Manhattan, has taken over as interim CEO. Leahy, whose resignation...

CPI Aerostructures revenue, earnings down.
November 9, 2005... Byline: Ken Schachter Shares of CPI Aerostructures Inc. fell 5 percent, to $9.49 Wednesday, after the defense contractor reported revenue and net income declined in the third quarter. Revenue slumped 18 percent from the year-ago quarter to...