LI Business News articles from October 2006

LI Business News archives from October 2006

Chase adds ATMs.
October 2, 2006... Byline: Henry E. Powderly II Starting Monday, all Chase customers can grab their cash fee-free at any Bank of New York automatic teller machine. JPMorgan Chase's previously announced acquisition of Bank of New York's consumer,...

Stony Brook University to wrap up its $35M purchase of Southampton College.
October 3, 2006... Byline: Jeremy Harrell Stony Brook University is expected to wrap up its $35 million purchase of Southampton College on Wednesday. With the acquisition, the State University of New York affiliate will take control of 82 acres on the...

Cedar Shopping Centers purchases three supermarket-anchored malls for $22 million.
October 3, 2006... Byline: Henry E. Powderly II Cedar Shopping Centers said Tuesday it purchased three supermarket-anchored malls for $22 million. Cedar said it bought the Long Reach Shopping Center in Columbia, Md., the Hannaford Plaza Shopping Center...

Filtration systems maker Pall Corp. to add jobs and invest $50M in its Puerto Rico facilities.
October 3, 2006... Byline: David Reich-Hale Filtration systems maker Pall Corp. said Tuesday that it will add more than 250 full-time jobs and invest $50 million in facilities, machinery and equipment in Puerto Rico. The manufacturing operations are in...

NBTY Inc. closes on its $37.5 million acquisition of Zila Nutraceuticals.
October 3, 2006... Byline: David Reich-Hale NBTY Inc. on Tuesday closed its $37.5 million acquisition of Zila Nutraceuticals. The deal could net Zila Inc. an additional $3 million if certain performance milestones are met. Zila decided to sell its...

Globecomm Systems nets $3.1M federal contract.
October 3, 2006... Byline: Henry E. Powderly II Globecomm Systems Inc. said Tuesday a U.S. government contractor raised its contract amount by $1.6 million. The unnamed contractor raised its deal to $12.6 million for Globecomm's communications products....

Comtech Telecommunications Corp. receives $2.3M in orders for high-power amplifiers.
October 3, 2006... Byline: Henry E. Powderly II Comtech Telecommunications Corp. received $2.3 million in orders for high-power amplifiers from an unnamed aviation electronics provider, the company announced Tuesday. The Melville-based company said its...

Last-minute contract dispute ends $90 million deal to buy Cold Spring Country Club.
October 4, 2006... Byline: Dawn Wotapka Hardesty A last-minute contract dispute caused Gary Melius to abandon his $90 million plans to buy the Cold Spring Country Club. "The deal's off," said Melius, who owns the adjacent Oheka Castle, a luxury hotel....

Contract negotiations heat up between workers and Waldbaum's and Stop & Shop supermarkets.
October 4, 2006... Byline: Jeremy Harrell Contract negotiations are heating up between grocery store workers and their employers at Waldbaum's and Stop & Shop supermarkets. The 12,000 members of the Retail, Wholesale and Department Store Union/United...

KeySpan Corp. declares quarterly stock dividend of 46.5 cents per share.
October 4, 2006... Byline: David Reich-Hale KeySpan Corp. said Wednesday that its board of directors declared a quarterly stock dividend of 46.5 cents per share. The dividend is payable on Nov. 1 to shareholders of record at the close of business Oct....

CPI Aerostructures in Black Hawk deal.
October 4, 2006... Byline: David Reich-Hale CPI Aerostructures on Wednesday said it has been awarded a $4.4 million contract by Sikorsky Aircraft to provide module assemblies for use as spares on helicopters. The Hover Infra Red Reduction System...

Reckson Associates Realty Corp. investors to vote on proposed merger.
October 5, 2006... Byline: Dawn Wotapka Hardesty Reckson Associates Realty Corp. said Thursday that the shareholder vote for its proposed merger with SL Green will take place on Nov. 22. Shareholders on record as of Oct. 13 are eligible to vote. Long...

Arrow Electronics Inc. to acquire a Colorado-based maker of infrastructure and security products.
October 5, 2006... Byline: Henry E. Powderly II Arrow Electronics Inc. on Thursday announced it will acquire a Colorado-based maker of infrastructure and security products. Arrow said it will buy Englewood, Colo.-based Alternative Technology Inc., which...

JPMorgan Chase targets Hispanic market.
October 5, 2006... Byline: David Reich-Hale JPMorgan Chase's credit card unit is launching a new advertising campaign targeting Hispanic customers. Chase Card Services said Thursday it will run television commercials on Spanish-language television...

Semiconductor distributor Nu Horizon's profit quadruples.
October 5, 2006... Byline: Henry E. Powderly II Semiconductor distributor Nu Horizons on Thursday morning said its second-quarter profit quadrupled on strong global sales. For the quarter ended Aug. 31, Nu Horizons posted a net income of $3.5 million, or...

Suffolk County purchases land for a sewer expansion in Hauppauge Industrial Park.
October 5, 2006... Byline: Jeremy Harrell For the small price of $1, Suffolk County this week bought a small patch of land that will pave the way for a sewer expansion in the Hauppauge Industrial Park. With the six-acre parcel, now home to a recharge...

September results in better-than-expected gains for many merchants.
October 5, 2006... Byline: David Reich-Hale Shoppers, encouraged by cooler temperatures and easing gasoline prices, went on a shopping spree in September, resulting in better-than-expected gains for many merchants and lifting the industry's spirits in...

Long Island real estate firms announce staffing changes: October 6, 2006.
October 6, 2006... Byline: Henry E. Powderly II The Port Jefferson Village office of Coach Realtors has named Patrick Keenan sales associate. He had worked in business development and general management at GTE Directories. Coach has also named Bonnie...

Long Island education institutions announce staffing changes: October 6, 2006.
October 6, 2006... Byline: Henry E. Powderly II The Touro College Jacob D. Fuchsberg Law Center has named several new administrators to work at its new Central Islip campus. Lauren Chite was named assistant dean for student services. She had been...

UnitedHealthcare enlists Enzo labs.
October 6, 2006... Byline: Henry E. Powderly II Enzo Biochem Inc. said Friday it has been selected by UnitedHealthcare Insurance Company as regional provider of medical laboratory services. Enzo, which specializes in gene identification and other genetic...

Brookhaven may require contractors to prove workers are paid legally.
October 6, 2006... Byline: Jeremy Harrell Companies that contract with the Town of Brookhaven would have to prove they pay their workers legally, under a proposal introduced Thursday. Connie Kepert, a member of the town board who introduced the...

Symbol Technologies says class action suit aimed at stopping Motorola acquisition.
October 6, 2006... Byline: Henry E. Powderly II Symbol Technologies said Friday that numerous class action lawsuits, aimed at thwarting the company's pending acquisition by Motorola Inc., have been filed in state court. Symbol said in a statement that it...

Emerging Vision completes purchase of Combine Optical Management.
October 6, 2006... Byline: Henry E. Powderly II Optical products provider and franchise operator Emerging Vision announced Friday it has completed its purchase of Combine Optical Management Corp. for $2.5 million in cash. Florida-based Combine, which had...

Semiconductor manufacturer SMSC misses estimates.
October 6, 2006... Byline: Henry E. Powderly II Semiconductor manufacturer SMSC posted a $5.7 million second-quarter profit, exponentially greater than the same prior-year period but not enough to propel it past analyst estimates. For the quarter ended...

Long Island Chapter of Association of Fundraising Professionals to honor many.
October 6, 2006... Byline: Henry E. Powderly II Long Island's biggest celebration of not-for-profits is coming. The Association of Fundraising Professionals Long Island Chapter's Philanthropy Day will take place Nov. 17, and many big-name do-gooders...

Long Island Arts Council at Freeport needs vendors for its Pre-Holiday Craft Festival.
October 6, 2006... Byline: Henry E. Powderly II The Long Island Arts Council at Freeport needs vendors of hand-crafted items for its Pre-Holiday Craft Festival, set to take place Nov. 4. The event, set to take place at the Freeport Recreation Center, will...

Victims Information Bureau of Suffolk asks community for used cell phones.
October 6, 2006... Byline: Henry E. Powderly II The Victims Information Bureau of Suffolk is asking for any used cell phones the community can spare. The agency, which helps victims of domestic violence, rape and sexual assault, accepts the phones and...

David Wright Foundation donates to National Multiple Sclerosis Society's Long Island Chapter.
October 6, 2006... Byline: Henry E. Powderly II The David Wright Foundation, founded in 2005 by New York Met David Wright, donated $10,800 to the National Multiple Sclerosis Society's Long Island Chapter. The money will be used to cover respite care costs...

Masthead Cove Yacht Club raises nearly $6,000 at their annual Charity Regatta.
October 6, 2006... Byline: Henry E. Powderly II Despite torrential rain, the Masthead Cove Yacht Club raised nearly $6,000 from their annual Charity Regatta on Aug. 27. The proceeds were donated to support ovarian cancer research at Cold Spring Harbor...

Cornell Cooperative Extension of Suffolk County receives grant from big-box retailer Target.
October 6, 2006... Byline: Henry E. Powderly II Cornell Cooperative Extension of Suffolk County received a grant from big-box retailer Target for its human development programs. CCE said it will use the money to support its programs for preventing...

Long Island medical facilities announce staffing changes: October 6, 2006.
October 6, 2006... Byline: Henry E. Powderly II Jose S. Leon was named medical director of Huntington Hospital's Dolan Family Health Center. He completed a residency in internal medicine at Lenox Hill Hospital. Dr. Marianne Frieri, attending physician in...

Long Island law firms announce staffing changes: October 6, 2006.
October 6, 2006... Byline: Henry E. Powderly II The Uniondale firm of Rivkin Radler has named six new associates to the practice. Anthony T. Agolia will join the corporate and commercial and real estate, zoning and land use practice groups. He earned his...

Long Island not-for-profits announce staffing changes: October 6, 2006.
October 6, 2006... Byline: Henry E. Powderly II The CDCH Foundation for Special Children has named Patrick McLaughlin, manager of Prudential Douglas Elliman's Sag Harbor office, to its board of trustees. The New York Enterprise Report has named SCORE...

At retailers and restaurants, debit cards are replacing checks, cash, and even credit cards.
October 6, 2006... Byline: Claude Solnik The future of banking may not appear in a crystal ball, but card readers might have better luck. Not tarot cards, though - debit cards. In a quiet revolution, debit cards have gone from that sliver of plastic...

How one bank's $16 billion acquisition deal might be a golden opportunity for competitors.
October 6, 2006... Byline: Claude Solnik It's election season, and New Yorkers are focused on November races - but a recent vote the public at large might not have noticed will have a massive effect on the Long Island banking industry, and those who utilize...

Banks are lining up branches in various Long Island supermarkets.
October 6, 2006... Byline: Claude Solnik Attention, shoppers: There's a special on home equity loans in aisle one! Haven't heard that one yet? It may not be far off. In many markets, consumers can already secure a loan or make a deposit while they shop....

Ones to watch in Long Island's banking industry.
October 6, 2006... Byline: Claude Solnik Brian K. Finneran Executive vice president, chief financial officer, State Bank of Long Island Finneran, who has held these positions since 1997, joined the bank in 1990 as a senior vice president and comptroller....

Commentary: Making the grade.
October 6, 2006... Byline: Gregory Zeller To Suffolk's business principals, Suffolk County Executive Steve Levy is a virtual hero, a thoughtful and thought-provoking guide to a better tomorrow, a lawmaker who shares their visions. At least, that's what...

Suffolk County Supreme Court voids Brookhaven's rezoning of 25 acres.
October 6, 2006... Byline: Jeremy Harrell When the Klar Organization won a case voiding Brookhaven's rezoning of 25 acres of Klar property, the East Meadow company might have struck a much larger blow. Suffolk County Supreme Court Judge Ralph F. Costello...

Cablevision Systems Corp. makes unwanted headlines, yet its stock keeps chugging away.(Company overview)
October 6, 2006... Byline: Jeremy Harrell A funny thing happened when Cablevision Systems Corp. announced last month that it booked a nearly $90 million charge for improperly backdating stock options: Investors shrugged. In fact, analysts and investors...

Long Island's housing market is no longer hotter-than-hot.
October 6, 2006... Byline: Dawn Wotapka Hardesty For several years, the best way to profit from property on Long Island was to build homes and sell them for hefty premiums. Recognizing the hot market, builders filed a flurry of requests to rezone property to...

Long Island's general aviation industry soars.
October 6, 2006... Byline: Claude Solnik Although many of the nation's biggest commercial airlines are struggling with financial turbulence, the general aviation industry is enjoying blue skies. General aviation consists largely of business and...

On the move.
October 6, 2006... Byline: Henry E. Powderly II Education The Touro College Jacob D. Fuchsberg Law Center has named several new administrators to work at its new Central Islip campus. Lauren Chite was named assistant dean for student services. She...

Owner of Jericho-based Beyond Compare Events & Production believes it's all about best-laid plans.
October 6, 2006... Byline: Adina Genn Marie O'Mara has proven that sometimes, people power equals star power. Less than a year into launching Jericho-based Beyond Compare Events & Production, O'Mara organized a summer music festival starring Hillary...

Farmingdale College Foundation helps alleviate Long Island's brain drain.
October 6, 2006... Byline: Ken Cerini While Long Island businesses often give money to charity because they're socially responsive, they much prefer to give to organizations that provide a certain quid-pro-quo. Not a free T-shirt or paying for a journal ad -...

The rundown.
October 6, 2006... Byline: Henry E. Powderly II Honoring many Long Island's biggest celebration of not-for-profits is coming. The Association of Fundraising Professionals Long Island Chapter's Philanthropy Day will take place Nov. 17, and many...

Long Island Financial Briefs: October 6, 2006.
October 6, 2006... Byline: LIBN Staff Want to work for the IRS? Well, here's your chance The Internal Revenue Service is accepting applications for hundreds of new jobs as part of a nationwide hiring program taking place over the next few weeks. ...

Long Island Real Estate Briefs: October 6, 2006.
October 6, 2006... Byline: Dawn Wotapka Hardesty Brookhaven's Empire continues to conquer empty space Yet another company is eyeing Brookhaven as the perfect place to grow its business. Frank Lowe Rubber & Gasket Co. Inc. plans to build a $6.5...

Long Island Legal Briefs: October 6, 2006.
October 6, 2006... Byline: Jeremy Harrell EPA: Brownfield caveats will soon become clearer Brownfields are like Forrest Gump's box of chocolates: You never know what you're going to get. A single industrial property can have a number of different...

Long Island Medical Briefs: October 6, 2006.
October 6, 2006... Byline: Claude Solnik Boosting African American cancer awareness The Stony Brook University Cancer Center is working with churches and health organizations to conduct a public health awareness campaign targeting African Americans. ...

Restaurant designer recognizes that both design and consultant skills are vital to clients.
October 6, 2006... Byline: Adina Genn Restaurant designer Karen Dallago doesn't stop at the drawing board. She's also a counselor, hand-holder, money-saver and more. This combination has helped Dallago and her sister, Sharon Dallago-Gender, build their...

How to ... Move your firm.
October 6, 2006... Byline: Bernadette Starzee Moving your offices is a time-consuming and costly task. One of the biggest costs is the interruption to your business before, during and after the move, but you can minimize this disruption by planning well in...

T. Weiss Realty Corp. in Melville promotes Steven M. Woods to VP of leasing and acquisitions.
October 6, 2006... Byline: Henry E. Powderly II T. Weiss Realty Corp. in Melville has promoted Steven M. Woods to vice president of leasing and acquisitions. Woods joined T. Weiss Realty one year ago as director of leasing and acquisitions, overseeing...

Number of Small Business Administration-guaranteed loans increasing on Long Island.
October 6, 2006... Byline: Adina Genn Small is beautiful, and on Long Island, it's getting bigger. Small Business Administration-guaranteed loans are growing in these parts, boosted by a strong economy and aggressive efforts to grow lending. The number...

Long Island Business News Follow Ups: October 6, 2006.
October 6, 2006... Byline: Long Island Business News Staff Down, but not out? Last week, we reported on the demise of a class-action lawsuit launched by LIPA customers who charged the power authority with illegally raising rates through fuel surcharges....

Commercial real estate honoree verbally attacks Brookhaven supervisor during acceptance speech.
October 6, 2006... Byline: Dawn Wotapka Hardesty So much for the routine acceptance speech. As commercial real estate queen Marie Zere accepted a Long Island Business Development Council achievement award Sept. 28 at the council's 37th annual conference,...

David Salten, model educator, business advocate, dead at 93.(Obituary)
October 6, 2006... Byline: LIBN Staff Pioneering educator and economic development leader David G. Salten died Oct. 1 of a heart-related illness at his home in Port Washington. He was 93. Known for his role as an expert witness in federal landmark school...

Co-proprietor of Sayville Inn receives NY State's 2006 Small Business Advocate of the Year Award.
October 6, 2006... Byline: Adina Genn Never mind a village - to sustain a busy downtown, "it takes a hamlet," according to Pamela Raymond. Raymond, co-proprietor of the circa-1888 Sayville Inn, considers herself "just one activist" in a community of...

2 minutes with Stuart Lubow, chief executive, Community National Bank.
October 6, 2006... Byline: David Reich-Hale In April 2005, Stuart Lubow launched Community National Bank with a single branch in Great Neck. Since then, he's opened another branch in Garden City and has plans for at least three more. Lubow discussed the need...

Commentary: No action here.
October 6, 2006... Byline: Long Island Business News Editorial File this one under "no-duh endorsements." The LIA Action Committee, an arm of the Long Island Association, made the not-so-bold step of throwing its support behind Attorney General Eliot...

Commentary: Waiter, is that a fry in my trans fat?
October 6, 2006... Byline: John Kominicki The days when New York City got a cough and Long Island got pneumonia may be over, but there is evil afoot in the Big Apple that bears watching. To wit, city health commissioner Thomas Frieden's attempt to ban...

Commentary: It's time for a wake-up call in Congress.
October 6, 2006... Byline: Jerry Kremer There are lots of wonderful professions. I admire doctors for their healing arts. I respect scientists for their ability to discover things that will benefit society. I have a strong bond with people in government,...

Commentary: What every Long Islander should know about 'home rule'.
October 6, 2006... Byline: Nancy Rauch Douzinas Governmentally speaking, Long Island is a mess. We have 236 municipal corporations, including two counties, 13 towns, two cities, 95 villages and 124 school districts. Throw in fire districts, water...

Letter: Tired of Dick Amper's 'histrionics, hypocrisy'.
October 6, 2006... To the Editor: This is in response to the recent letter, Levy Falls Short on Preservation (LIBN, Sept. 22), written by Pine Barrens Society President Alan Singer on behalf of Executive Director Richard Amper. Amper has made...

Citigroup looks to slash its dependence on U.S. market by expanding overseas.
October 9, 2006... Byline: David Reich-Hale Citigroup's top executive said in a press report Monday that the banking giant needs to slash its dependence on the United States market and therefore will look to expand overseas. Chuck Prince, chief executive...

Henry Schein Inc. to distribute ActiPatch by BioElectrics Corp. of Maryland.
October 9, 2006... Byline: David Reich-Hale Henry Schein Inc. on Monday agreed to distribute ActiPatch, a drug-free anti-inflammatory patch by BioElectrics Corp. of Maryland. Henry Schein is the largest provider of health-care products and services to...

Verizon Communications announces Long Island expansions.
October 9, 2006... Byline: David Reich-Hale Verizon Communications Inc. said Monday that East Norwich, Farmingdale and village of Oyster Bay have officially been added to its FiOS TV service market. All of those areas are covered by the Town of Oyster...

Comtech Telecommunications Corp. receives $4.5 million contract from Raytheon.
October 10, 2006... Byline: David Reich-Hale Comtech Telecommunications Corp. said Tuesday that one of its subsidiaries has received a $4.5 million contract from Raytheon for the production of radio frequency assemblies used in UHF radios. The company's...

Long Island Regional Planning Board tackles housing.
October 10, 2006... Byline: Carl Corry Long Island's housing leaders say the region's lack of affordable housing must be addressed with a combination of targeted subsidies and increases in housing development densities. Gathering for the Long Island...

Report: Long Island headed for recession.
October 10, 2006... Byline: Jeremy Harrell Dragged down by energy costs and an ebbing housing and construction market, Long Island's economy will head into a mild recession next year, according to a report released Tuesday. Employment is expected to...

Report: Former Comverse Technology execs are looking to plea bargain with the U.S. government.
October 10, 2006... Byline: Henry E. Powderly II David Kreinberg and William Sorin, former executives from Comverse Technology Inc. who face fraud charges, are looking to plea bargain with the U.S. government, according to a Reuters report. Kreinberg,...

Sen. Hillary Clinton joins roundtable of Long Island reporters for 90-minute coffee klatch.(Discussion)
October 10, 2006... Byline: Gregory Zeller Nukes in North Korea, alternative energy on Long Island, Medicare reform in Washington, D.C. - Sen. Hillary Rodham Clinton, D-New York, spanned the globe Tuesday morning without ever leaving the Crest Hollow Country...

Port Washington-based Systemax Inc. shares nosedive.
October 12, 2006... Byline: David Reich-Hale Systemax Inc. shares dropped 13 percent to $13.06 on Thursday after the company said it will delay reporting its second-quarter results. On Aug. 29, the company said it would report its second-quarter results...

FDA clears Bovie Medical Corp.'s tools.
October 12, 2006... Byline: Henry E. Powderly II Bovie Medical Corp. Thursday announced its received clearance from the U.S. Food and Drug Administration to market its new line of laparoscopic surgical devices. Bovie said its Modular Ergonomic Instruments...

Comtech Telecommunications Corp. strikes $3M deal.
October 12, 2006... Byline: David Reich-Hale Comtech Telecommunications Corp. said Thursday that it has received a $3 million order from the U.S. Army for moving track system products. The order will be fulfilled by the company's Maryland-based...

Long Island housing inventory slips.
October 12, 2006... Byline: Dawn Wotapka Hardesty Long Island's sellers must have taken a bit of a break in September. For months, inventory doubled as frenzied regional sellers rushed to cash in as the housing boom deflated. In September, however,...

Cablevision Systems Corp.'s deal spurs suits.
October 12, 2006... Byline: Jeremy Harrell The Dolan family's $7.9 billion offer to take Cablevision Systems Corp. private has generated lawsuits seeking to quash the deal. At least two law firms this week initiated class-action proceedings in state...

Long Island Business News' Health Care Heroes officially honored.
October 13, 2006... Byline: LIBN Staff Long Island's health-care industry is flush with remarkable professionals whose goal is simple: to make life better for the rest of us. They are scientists, doctors, nurses, administrators and volunteers. All of them are...

N.Y. researchers lead the hunt for a cancer cure.
October 13, 2006... Byline: Carl Corry It seemed all too obvious. For years, researchers had been wondering why certain people who contract chronic lymphocytic leukemia live without any adverse consequences, while others have life expectancies of only...

L.I. Health Care Heroes: Dr. Mark Weinblatt, Winthrop-University Hospital.
October 13, 2006... Byline: LIBN Staff Dr. Mark Weinblatt Chief of pediatric hematology/oncology Winthrop-University Hospital From the moment patients meet him, if not before, it's clear that Mark Weinblatt is not your typical doctor. Instead of...

L.I. Health Care Heroes: Thomas Demaria, South Nassau Communities Hospital.
October 13, 2006... Byline: Claude Solnik Thomas Demaria Assistant vice president of behavioral health services South Nassau Communities Hospital The day the Twin Towers of the World Trade Center were destroyed, many heroes rushed to help. Thomas Demaria...

L.I. Health Care Heroes: Elsie Wunsch, Glen Cove Hospital.
October 13, 2006... Byline: Henry E. Powderly II Elsie Wunsch Auxiliary volunteer Glen Cove Hospital Elsie Wunsch is about as seasoned a volunteer as you can get. She has volunteered at North Shore-Long Island Jewish Health System's Glen Cove Hospital...

L.I. Health Care Heroes: Frances Lafauci, Suffolk Community School of Nursing.
October 13, 2006... Byline: Claude Solnik FRANCES LAFAUCI Associate dean Suffolk Community School of Nursing A lot of people complain of a nursing shortage. Registered nurse Frances LaFauci, head of Suffolk Community College's School of Nursing, is doing...

Cents and sensibility on Wall Street.
October 13, 2006... Byline: Henry E. Powderly II When Windswept Environmental Group Inc. announced it was moving into a larger, more energy-efficient and - as you might expect from a disaster-recovery company - hurricane-proof headquarters in Holtsville,...