LI Business News articles from October 2005

LI Business News archives from October 2005

Mets owner proposes $300 million sports, convention and entertainment complex.
October 3, 2005... Byline: Dawn Wotapka Hardesty Let the competition begin.Answering Nassau's request for proposals to redesign the dated Nassau Veterans Memorial Coliseum, a development team consisting of The New York Mets Development Corp., Sterling...

Suffolk County seeks to boost minority business.
October 3, 2005... Byline: Jeremy Harrell Suffolk County wants to help minority-owned businesses find partners for local government contracts. County Executive Steve Levy on Monday rolled out a new Internet-based directory of minority-owned businesses,...

Islandia-based Computer Associates pledges $12M to North Shore-LIJ.
October 3, 2005... Byline: Claude Solnik Computer Associates International Inc. on Monday announced a $12 million, 10-year pledge to the North Shore-Long Island Jewish Health System's Schneider Children's Hospital. The pledge kicks off a $100 million...

Defense contractor Orbit International Corp. receives $2.2M contract.
October 3, 2005... Byline: Ken Schachter Defense contractor Orbit International Corp. has received a fixed-price contract worth more than $2.2 million for color plasma panels, the company announced. Deliveries are expected to continue through the first...

Pharmacy benefits manager National Medical Health Card Systems names new chief clinical officer.
October 3, 2005... Byline: Ken Schachter Pharmacy benefits manager National Medical Health Card Systems Inc. (Nasdaq: NMHC) has appointed Robert Kordella chief clinical officer, the company said. Effective Oct. 1, Kordella began directing clinical...

Wilpon Riverhead plan on hold.
October 4, 2005... Byline: Dawn Wotapka Hardesty It's back to square one for Kenneth Wilpon. Discussions for the developer to buy 755 acres of town-owned land in Calverton have been put on hold. To prevent a lawsuit, Riverhead will issue a second a...

Nu Horizons to be CA-based Oki Semiconductor's sole distributor in North America.
October 4, 2005... Byline: Jeremy Harrell Shares of Nu Horizons Electronics Corp. surged Tuesday as the company announced the extension of an exclusive distribution deal. Oki Semiconductor, a Sunnyvale, Calif.-based digital communications producer,...

Southwest Airlines offers one daily flight from Long Island to Ft. Myers, Florida.
October 4, 2005... Byline: Claude Solnik Southwest Airlines on Tuesday launched daily service from Long Island MacArthur Airport to Southwest Florida International Airport in Ft. Myers, Fla. Southwest CEO Gary Kelly said that the airline had been...

Oceanside-based AMAC acquires North Shore Answering Service.
October 4, 2005... Byline: Claude Solnik American Medical Alert Corp. has acquired North Shore Answering Service, a Port Jefferson-based telephone answering service used by physicians. Terms of the transaction weren't disclosed. American Medical (Nasdaq:...

NY State challenges Babylon community court.
October 5, 2005... Byline: Jeremy Harrell The Town of Babylon has found itself in the awkward position of defending its community court before another court. Town Supervisor Steven Bellone on Thursday will file the town's response to a state Unified...

Medical Society of the State of NY objects to two proposed mergers of health insurers.
October 5, 2005... Byline: Claude Solnik The Medical Society of the State of New York on Wednesday said it has "serious concerns" and "strongly objects" to two proposed mergers of health insurers announced earlier this month. The society objected to the...

Long Island's Southampton Hospital plans layoffs.
October 5, 2005... Byline: Claude Solnik Southampton Hospital on Wednesday said it plans to save about $1 million annually through a restructuring that includes laying off 13 of its roughly 700 employees. The hospital said it will cut expenses through...

Melville-based Nu Horizons earnings, share price fall.
October 5, 2005... Byline: Ken Schachter Shares of Nu Horizons Electronics Corp. dipped 65 cents, or 8 percent, to $7.74 Wednesday after the electronics distributor posted lower second-quarter earnings. Net income fell to $820,000, or 5 cents per diluted...

Long Island Power Authority considers basic rate increase.
October 6, 2005... Byline: Ken Schachter The Long Island Power Authority Thursday unveiled a "revenue neutral" plan to restructure bills by raising basic rates and lowering fuel pass-alongs. The four-point restructuring proposal also called for: the...

Nassau County Executive Tom Suozzi names coliseum advisory panel.
October 6, 2005... Byline: Jeremy Harrell Nassau County Executive Thomas Suozzi recruited three independent business advisors Thursday to help him select a Nassau Coliseum redevelopment proposal by year's end. The advisory panel, Suozzi and a team of...

Forest Laboratories settles Lexapro patent case.
October 6, 2005... Byline: Jeremy Harrell Forest Laboraties Inc. settled a patent suit Thursday over a generic version of its Lexapro antidepressant, but the company must still defend the patent against another competitor. Forest, which has major...

Farmingdale-based Enzo Biochem's discovery boosts stock price.
October 6, 2005... Byline: Claude Solnik Enzo Biochem Inc. Thursday said its researchers identified a molecule that could be used to treat bone diseases and prevent fractures. The firm said its researchers made the discovery in pre-clinical experiments...

Nassau County to an Empire Zone within the next four years.
October 7, 2005... Byline: Jeremy Harrell For years, the scoreboard has read Suffolk County 3, Nassau County 0. But that's about to change. At long last, Nassau County is getting its wish. Sometime in the next four years, Nassau County will create an...

Spending by Cablevision Systems to derail West Side Stadium project lifts NY in lobby ranks.
October 7, 2005... Byline: Ken Schachter Spending by Cablevision Systems to derail the West Side Stadium project single-handedly vaulted New York past all other states in spending by telephone and cable companies to sway state and local governments, a new...

i.park owners offer to sell entire Long Island complex or break it into two.
October 7, 2005... Byline: Dawn Wotapka Hardesty The owners of i.park - a sprawling former defense plant turned office park - aim to cash out of Long Island's sizzling real estate sales market. Cushman & Wakefield is quietly marketing the 1.4...

Hofstra Univ. wants NY Jets to hold their summer training camp in Hempstead.
October 7, 2005... Byline: David Reich-Hale Though the New York Jets plan to pick up and move their day-to-day operations from Hofstra to New Jersey, the university hopes the team will keep some ties to the school by holding its summer training camp in...

New CEO of CMP Media renews company's expansion efforts.
October 7, 2005... Byline: Ken Schachter With London headquarters intent on jumpstarting growth, acquisitions and organic expansion will top the agenda at CMP Media, the company's new chief executive officer said. Steve Weitzner, 54, was named CEO of the...

2-minute drill with Roman Roth, a Long Island winemaker.
October 7, 2005... Byline: David Reich-Hale What has the dry summer meant to Long Island's winemakers? It's absolutely fantastic. The drought, the sun, ripens the grapes. We have rich soil, and we have drip irrigation, which gives us perfect conditions. The...

Addition of new space to the office market in Long Island drops office rates.
October 7, 2005... Byline: Dawn Wotapka Hardesty The addition of significant new space to the market helped push Long Island's office market vacancy above 11 percent for the first time in a year, according to new market surveys. Statistics compiled by...

Small Business Administration reports that Long Island loans are up 32%.
October 7, 2005... Byline: Adina Genn Crediting favorable economic conditions and a new push by the U.S. Small Business Administration and banks to reach borrowers, the SBA reported a 32 percent increase in loans to Long Island small businesses through much...

NY's Unified Court System files suit against the Town of Babylon.
October 7, 2005... Byline: LIBN Staff What's the Latin word for one court suing another? The Town of Babylon could be about to find out. The state's Unified Court System has filed suit to have Babylon's Bureau of Administrative Adjudication declared...

Businesses surrounding hockey rinks in U.S. celebrate the end of year-long NHL lockout.
October 7, 2005... Byline: LIBN Staff When the National Hockey League launched its 2005-2006 season Oct. 5, the biggest cheers might have come from the businesses surrounding hockey rinks in the United States and Canada. In Uniondale, restaurants and...

Bankruptcy Abuse Prevention and Consumer Protection Act takes effect on Oct. 17.
October 7, 2005... Byline: Jeremy Harrell It's fair to say that attorneys are bracing for the onset of the new federal bankruptcy law in the same way coastal towns brace for hurricanes or nor'easters. The law is definitely coming, but the scale of its...

Roberts court to decide whether employees should be paid for on-side wait time.
October 7, 2005... Byline: Jeremy Harrell The other big news in the legal world this month is the U.S. Supreme Court and John Roberts, the new chief justice. The Roberts court sat for the first time on Oct. 3 and heard at least one case that intrigued David...

Suffolk County taps Farrell Fritz in Uniondale to represent Legislature in Broadwater debate.
October 7, 2005... Byline: Jeremy Harrell Suffolk County lawmakers have tapped Farrell Fritz in Uniondale to represent the Legislature in the heated Broadwater debate. The Federal Energy Regulatory Commission is set to hold hearings on the proposed...

Shares of electronics maker Audiovox Corp. plummet 15 percent.
October 7, 2005... Byline: LIBN Staff Call it a bad forecast. Shares of Audiovox Corp. (Nasdaq: VOXX) plummeted 15 percent to $13.98 for the week ended Sept. 30 after the electronics maker warned that it would not meet its third-quarter revenue forecast of...

Commentary: Empire falling out of place.
October 7, 2005... Byline: LIBN Staff We're generally not a proponent of more government supervision, but there are exceptions. As Nassau county moves toward finally becoming a member of the Empire Zone family, an examination of the economic-development...

Commentary: RFP process worth the wait.
October 7, 2005... Byline: Martin Cantor Next time someone says that 45 days doesn't matter, just focus them on the proposals submitted for the development of the Nassau County Hub. The four distinctly different proposals will provide a real choice for what...

Commentary: Jets flight to Jersey will hurt Long Island's economy.
October 7, 2005... Byline: John Kiernan Last week's announcement that the Giants and Jets had reached an agreement with New Jersey officials to build a jointly owned stadium in the Meadowlands should have been a tremendous disappointment to Long Island and...

Commentary: By creating distance, NY GOP can survive.
October 7, 2005... Byline: Jerry Kremer If you ask any Republican state official about their prospects in the year 2006, they use the word, "tsunami." That's a pretty heavy word, but it captures the fear that the Republicans face over the loss of the...

NY-based Signature Bank looks to grow its own lending presence on Long Island.
October 7, 2005... Byline: David Reich-Hale New York-based Signature Bank wants to swipe lending brokers from other banks as it looks to grow its own lending presence on Long Island. "We're having conversations right now," said Chief Executive Joseph...

NY to accept late business filers impacted by Hurricane Katrina.
October 7, 2005... Byline: David Reich-Hale On Sept. 21, the U.S. Congress passed a compromise agreement providing $6.1 billion in tax relief for individuals and businesses affected by the Hurricane Katrina, as well as incentives to promote charitable...

Weiser LLP acquires accounting firm Lipman, Selznick & Witkowski of Edison, N.J.
October 7, 2005... Byline: David Reich-Hale Weiser LLP has acquired accounting firm Lipman, Selznick & Witkowski of Edison, N.J. The acquisition about doubles Weiser's New Jersey presence, giving them 100 accountants and support staff in that state, said...

North Fork Bancorp gets another upgrade from Citigroup Smith Barney.
October 7, 2005... Byline: David Reich-Hale Less than a week after ratings giant Standard & Poor's upgraded its outlook of North Fork Bancorp, the parent of Melville-based North Fork Bank, Citigroup Smith Barney did the same thing. Citigroup pushed the...

Long Island Financial Briefs: October 7, 2005.
October 7, 2005... Byline: David Reich-Hale * Deer Park will be the home of Suffolk County National Bank's 27th branch, according to Brenda Sujecki, a spokeswoman for the bank. The plan is to open the branch by November. The branch will be located at 1015...

Melville startup turns cell phones into micro-billboards.
October 7, 2005... Byline: Ken Schachter Advertisers have been hankering to get their messages on mobile phones and a Melville startup aims to help them do it. Xcellasave Inc. has developed technology to turn cell phone screens into miniature billboards....

Comverse Technology unveils new product called 'Klonies' to personalize cell phones.
October 7, 2005... Byline: Ken Schachter While we're talking about cell phones, software provider Comverse Technology has rolled out a product called Klonies. The service would let wireless providers offer customers a way to create personalized wallpaper and...

Palm licenses Microsoft Windows operating system to offer on its Treo smartphone.
October 7, 2005... Byline: Ken Schachter An alliance between Palm and Microsoft once would have been as likely as Derek Jeter begging to join the Red Sox or Osama bin Laden being named secretary of state. But times change. Palm Inc., which long ago spun...

Rovenet, Invores devise disaster-aid system to help reunite families.
October 7, 2005... Byline: Ken Schachter The principals at Southampton's Rovenet Inc. and Oyster Bay's Invores Systems have come up with an " I Am OK" system that they say could help reunite families in the wake of disasters like Hurricane Katrina. The...

Furniture giant Levitz Home Furnishings Inc. renews its lease in Woodbury, Long Island.
October 7, 2005... Byline: Dawn Wotapka Hardesty Furniture giant Levitz Home Furnishings Inc. is sticking with its headquarters for at least a decade. The company recently renewed its lease for about 45,000 square feet at 300 Crossways Park Drive in...

More deals in CLK/Houlihan-Parnes buildings on Long Island.
October 7, 2005... Byline: Dawn Wotapka Hardesty Here are more deals in CLK/Houlihan-Parnes buildings: At 135 Crossways Park Drive in Woodbury, Mortgage Line Financial Corp. leased nearly 16,000 square feet. Michael DiDonato of The Navigator Consulting Group...

What's the timeline for building the sports complex and 60-story tower in Nassau County?
October 7, 2005... Byline: Dawn Wotapka Hardesty Let's say Nassau County allows powerhouse partners Charles Wang and Scott Rechler to replace the aging Nassau Coliseum with their vision: a state-of-the-art sports complex accompanied by a soaring 60-story...

Lobby of 25-year-old 125 Baylis Road in Melville set for a facelift, says leasing agent.
October 7, 2005... Byline: Dawn Wotapka Hardesty To remain competitive, the lobby of 25-year-old 125 Baylis Road in Melville is set for a facelift that will include a glass-lined entrance stairway, wood walls and an art gallery, according to managing and...

Port Jefferson-based general surgery practice buys medical office building in East Setauket.
October 7, 2005... Byline: Dawn Wotapka Hardesty Yet another Long Island building has sold: this one an 11,258-square foot medical office building at 220 N. Belle Meade Road in East Setauket. Buyer General Surgery Associates LLC, a Port Jefferson-based...

Experts predicts that recent mergers in NY healthcare industry will lead to more acquisitions.
October 7, 2005... Byline: Claude Solnik In the wake of a duo of insurer mergers that shook the New York healthcare industry last week, experts said there may be more, and even bigger ones, in the offing. Indianapolis-based WellPoint last week said it...

Commission on Healthcare in the 20th Century reviews NY state's certificate of need process.
October 7, 2005... Byline: Claude Solnik The Commission on Healthcare in the 20th Century, nicknamed the "hospital closure commission," is reviewing whether to alter the state's certificate of need process by which hospital and other health-care institutions...

NY State's hospitals battered by high borrowing costs.
October 7, 2005... Byline: Claude Solnik New York State's hospitals, often in poor financial condition, are being plagued by high borrowing costs that make it even more difficult to boost their finances, according to one expert. Steven Broad, vice...

Jillian's Farmingdale location refurbished and rebranded as Dave & Buster's Grand Sports Cafe.
October 7, 2005... Byline: Adina Genn It's good bye Jillian's, hello Dave & Buster's new Grand Sports Cafe. The rebranded venues are not simply Jillian's with a Dave & Buster's logo slapped on the awning. In fact, Buster Corley - the Buster part of Dave...

New executive poll shows that second chances are likely in the workplace.
October 7, 2005... Byline: Adina Genn If you've ever blundered on the job, take heart. As it turns out, there are second chances. A new poll shows that 88 percent of senior executives and managers say that in their place of work second chances are...

CA management consultant gives pointers to struggling small businesses.
October 7, 2005... Byline: Adina Genn Is your small business up against hard times? Try these pointers by Ernest A. Doud Jr., president of Doud Hausner & Associates, a management consultant in Glendale, Calif. His suggestions appeared in the Oct. 3 edition...

Dowling College professor, Walter Rosenthal, named to the Fulbright Senior Specialists roster.
October 7, 2005... Byline: Henry E. Powderly II Walter Rosenthal has been a marketing director in the apparel industry, an owner of an advertising agency, a professor and a dean. And with all of that experience he has traveled the world teaching about...

Long Island financial firms announce staffing changes: October 7, 2005.
October 7, 2005... Byline: Henry E. Powderly II Delta Financial Corp. in Woodbury named John Adamovich Jr. and William Addas to its board of directors. Adamovich had been executive vice president and chief financial officer of Rainbow Media Enterprises,...

Long Island medical centers receive awards: October 7, 2005.
October 7, 2005... Byline: Henry E. Powderly II The Nassau University Medical Center Medical Intensive Care Unit received the "Life Saver Award for Hand Hygiene" from hospital CEO Daniel A. Kane. St. Catherine of Siena Medical Center in Smithtown was...

Kathy Passarette, owner of Creative Home Expressions, accepted into Interior Design Society.
October 7, 2005... Byline: Henry E. Powderly II Kathy Passarette, owner of decorating firm Creative Home Expressions in Mount Sinai, was accepted into the Interior Design Society.

VP of Port Washington-based Apple & Eve receives 2005 Bill Emerson Good Samaritan Award.
October 7, 2005... Byline: Henry E. Powderly II Volunteer hunger-relief organization Rock and Wrap It Up honored Cary Crane, executive vice president of Port Washington-based Apple & Eve, with the 2005 Bill Emerson Good Samaritan Award. Crane will represent...

Long Island nonprofits announce staffing changes: October 7, 2005.
October 7, 2005... Byline: Henry E. Powderly II Garden City-based Girl Scouts of Nassau County named Carol Ransom chair of its nominating committee. She currently sits on Girl Scouts Nassau's board of directors and is a past board vice president. The...

Long Island-based PL Developments names John Francis VP of global business development.
October 7, 2005... Byline: Henry E. Powderly II PL Developments, a supplier of over-the-counter analgesic, gastrointestinal and cold and cough medicine, headquartered in Farmingdale, named John Francis vice president of global business development. He will...

Internet stores demand less overhead but are open 24 hours a day.
October 7, 2005... Byline: Adina Genn Internet stores demand less overhead than brick-and-mortar outlets do and are open 24 hours a day. But as Alane Weissman and Lisa Caiazzo have found out, driving traffic to the site can be a full-time operation. The duo...

Mercedes-Benz launches new vehicle, the R-Class.
October 7, 2005... Byline: Nick Anastasi Mercedes-Benz, arguably the world's most recognized luxury car manufacturer, has launched a new vehicle, the R-Class, which it is calling a "grand sport tourer." And though it may look like a minivan, Mercedes has...

The David Center in New York gives hope to families of autistic children.
October 7, 2005... Byline: Ken Cerini When a young child is diagnosed with a disorder, many parents become discouraged. The David Center, an organization dedicated to serving individuals with autism spectrum disorders (ASD) and their families, gives people...

More Long Island companies aid hurricane victims.
October 7, 2005... Byline: Henry E. Powderly II * Long Island-based charity Toys of Hope has sent essentials (underwear, socks and personal hygiene products) to the more than 500 displaced victims currently housed in shelters in Philadelphia. *...

The Huntington Arts Council implements guitar lesson workshop.
October 7, 2005... Byline: Henry E. Powderly II The Huntington Arts Council received funding from the Long Island Community Foundation to implement a guitar lesson workshop for children aged 10 to 15 years old of low-income families. Scott MacDonald of SB...

More and more companies are resorting to outside background checks on prospective employees.
October 7, 2005... Byline: Claude Solnik On paper, he was the ideal candidate. His resume identified him as a sharp accounting prospect, and it almost convinced one Long Island company to hire him. Then the company did a background check. It...

HR functions increasingly move to the Internet.
October 7, 2005... Byline: Claude Solnik Bethpage Federal Credit Union has taken the paperwork out of HR processes. Whereas the company's human resources department used to track paper trails for its 300 employees, it now manages benefits, time sheets and...

In profiles, seeking the personalities to fit the job.
October 7, 2005... Byline: Claude Solnik Quick. Are you gregarious, loving, kind, sympathetic, empathetic, aggressive or assertive? Which words describe you best? Which don't describe you at all? Although these are hardly questions you'd expect to get in...

IRS stretches flexible spending plans even more.
October 7, 2005... Byline: Claude Solnik It's an annual ritual, the end-of-year blitz when otherwise healthy-looking employees rush to spend hundreds of dollars on medical expenses that, possibly, aren't necessary. Why? If they don't spend the funds in their...

Experts say more could be done to make flexible-spending plans attractive to small employers.
October 7, 2005... Byline: Claude Solnik Flexible-spending plans sound like a wonderful option for employees, but for small employers, there's a lot that could be done to make them more attractive, experts say. "It's the administrative headache, having...

Rising tide of regulations promotes HR outsourcing, consulting.
October 7, 2005... Byline: Claude Solnik New rules for everything from overtime to 401(k) plans are prompting some firms to seek outside human resources help to make sense of it all. Experts said that small businesses, in particular, are outsourcing HR...

Busy Long Island staffing firms have Sarbanes-Oxley Act of 2002 to thank.
October 7, 2005... Byline: Claude Solnik Staffing companies are seeing high demand for some of the strongest jobs in American business. And led by requests for financial professionals - and a rebound for information technology professionals - they may have...

North Fork Bancorp increases stock buyback.
October 7, 2005... Byline: David Reich-Hale North Fork Bancorp said Friday that its board has approved an increase in its stock buyback program to 16 million shares. The repurchased shares will be used for general corporate purposes, North Fork said in a...

New York Community Bancorp's Joseph Mancino retires.
October 7, 2005... Byline: David Reich-Hale Joseph L. Mancino on Thursday resigned as a member of New York Community Bancorp's Board of Directors. His resignation is effective immediately. NYCB (NYSE: NYB) called the resignation voluntary, adding that...

Comverse to pay $251M for CSG Systems unit.
October 7, 2005... Byline: Ken Schachter Shares of Comverse Technology Inc. edged up 8 cents, or .3 percent, to $25.37 Friday afternoon after the maker of telecommunications software systems announced an agreement to acquire the billing-services unit of CSG...

Mount Sinai, a blend of history and suburban sprawl.
October 7, 2005... Byline: Bernadette Starzee Legend has it that Mount Sinai got its name when, shortly after the first post office arrived in 1840, the postmaster (or perhaps his wife) closed his eyes, opened his Bible and pointed to the words "Mount Sinai"...

New York Community Bancorp to purchase Manhattan-based Atlantic Bank of New York.
October 11, 2005... Byline: David Reich-Hale New York Community Bancorp on Tuesday said it has agreed to purchase Manhattan-based Atlantic Bank of New York for $400 million. This is the second acquisition deal for NYCB is three months. In August, the bank...

Comtech's Maryland-based subsidiary gets orders worth $12.7M.
October 11, 2005... Byline: Ken Schachter Comtech Telecommunications Corp. has snared U.S. Army orders worth $12.7 million, the company announced Tuesday. Comtech Mobile Datacom Corp., a Germantown, Md.-based subsidiary, received the orders for its...

Orbit International Corp. lands $1M in military contracts.
October 11, 2005... Byline: Jeremy Harrell Orbit International Corp. announced Tuesday $1 million in new military contracts for subsidiary Behlman Electronics Inc. The Hauppauge-based company's contracts include $450,000 for power supplies related to the...

Audiovox shares slip on net loss.
October 12, 2005... Byline: Ken Schachter Shares of Audiovox Corp. (Nasdaq: VOXX) fell 26 cents, or 2 percent, to $13.03 Wednesday afternoon after the consumer electronics maker blamed "unexpected declines" in satellite radio sales for a third quarter net...

Treeline Cos. of Garden City plans class A offices for unused Macy's warehouse in Brooklyn.
October 12, 2005... Byline: Dawn Wotapka Hardesty The Treeline Cos. of Garden City is branching out and transforming part of a Macy's warehouse in Brooklyn into premium office space.The company just inked a lease for the unused site at 29 Gallatin Place, a...

Ronkonkoma-based Lakeland Industries lands option to buy India factory.
October 12, 2005... Byline: Claude Solnik Lakeland Industries Inc. has signed a contract that gives it the option to buy RFB Latex Private Limited's industrial glove business in New Delhi, India.Lakeland (Nasdaq:LAKE) inked an agreement in which it promises...