LI Business News articles from October 2008

LI Business News archives from October 2008

Islip's Foreign Trade Zone entices businesses.
October 1, 2008... Byline: Michael H. Samuels Town of Islip leaders gathered today to entice businesses to set up shop at Islip's Foreign Trade Zone on the border of Long Island MacArthur Airport, a 52-acre business park that provides tax breaks to...

Garden City book building goes for $43M.
October 2, 2008... Byline: David Winzelberg Just six months after media giant Bertlesmann sold a two-building complex in Garden City to Engel Burman Group for about $48 million, Engel Burman has flipped one of those buildings for nearly $43 million,...

Young people leaving Long Island to go to places like Boston or Brooklyn, says L.I. official.
October 2, 2008... Byline: David Reich-Hale Michael White, executive director of the Long Island Regional Planning Council, said Thursday the high cost of living is not what is pushing the region's youth off Island. "Kids are leaving to go to places like...

On Long Island, mixed reaction to bailout.
October 2, 2008... Byline: David Reich-Hale In the wake of one of the rockiest weeks in the history of the stock market, the Senate last night passed a $700 billion bailout to help stabilize the economy. And that has at least one top Long Island banker...

Long Island Legal Briefs: October 3, 2008.
October 3, 2008... Byline: Michael H. Samuels At home and broke A spouse who did not pay any of the withholdings attributable to a joint income tax refund has no ownership in the refund and therefore can't claim an exemption in a joint bankruptcy...

How To...Buy a franchise.
October 3, 2008... Byline: Bernadette Starzee Starting a new business from scratch can be a scary proposition, especially for a neophyte. Many entrepreneurs find buying a franchise to be a less risky venture. With a franchise agreement, a company allows...

Interview with Jingfang Ju, co-director of Translational Research Laboratory at Stony Brook.
October 3, 2008... Byline: Bernadette Starzee NAME: Jingfang Ju TITLE: Co-Director of the Translational Research Laboratory ORGANIZATION: Stony Brook University Medical Center FAVORITE PASTIMES: Enjoying his new home with his family and new friends;...

Long Islanders on the Move: October 3, 2008.
October 3, 2008... Byline: Bernadette Starzee Banking Gold Coast Bank in Islandia welcomed Suzanne K. Kirkpatrick as vice president/relationship manager. Kirkpatrick, who will focus on small-business and middle-market clients, was formerly an independent...

Commentary: Technology improves efficiency, services throughout Long Island.
October 3, 2008... Byline: Kenneth R. Cerini In this challenging economic climate, it is difficult for agencies to stay afloat, let alone take on newer, larger initiatives. The Family and Children's Association is doing just that, while still taking a...

Long Island Nonprofit Briefs: October 3, 2008.
October 3, 2008... Byline: Bernadette Starzee Building a future YouthBuild Long Island has begun construction on its first house, in Brentwood. YouthBuild, a United Way of Long Island program, is part of a national initiative that provides young...

Programs that four L.I. companies use to find, attract, and keep personnel.(Company overview)
October 3, 2008... Byline: Bernadette Starzee For certain professions, it's always difficult to find talent, no matter what the economy is doing. Here's a look at programs that four large companies have instituted to find, attract and keep personnel in...

Long Island's education is the area's economic engine.
October 3, 2008... Byline: Claude Solnik While Wall Street melts down and generates more worries than profits, Long Island's education economy is growing as schools develop and expand, employing thousands and generating business for other industries. An...

Masters of their universe: The value of the MBA in today's business world.
October 3, 2008... Byline: Claude Solnik After Lorraine Chambers Lewis was promoted to corporate director of employee health services for the North Shore-Long Island Jewish Health System, she wanted more than on-the-job training. So Lewis enrolled in...

Beyond raises: Long Island companies get creative in competing for employees.
October 3, 2008... Byline: Claude Solnik Recruiting in an economy with a low unemployment rate is costly and difficult, especially in professions with shortages, such as nursing. But St. Francis Hospital in Roslyn found a prescription to attract and retain...

Ones to Watch: Long Island directors and administrators.
October 3, 2008... Byline: Claude Solnik Dr. Harold A. Fernandez Director of Heart Failure Surgery St. Francis Hospital Dr. Fernandez joined Roslyn-based St. Francis Hospital in 2001, specializing in complex coronary artery bypass surgery, minimally...

Commentary: Out East: October 3, 2008.
October 3, 2008... Byline: Jeff Miller The Wall Street collapse has not led to bread lines As the economy has careened into the ditch, have you noticed how the word Hamptons has picked up dirt? The saddest part? It is practically certain the big fish...

Rough terrain for Hummer dealerships.
October 3, 2008... Byline: Ambrose Clancy At the Ramp Hummer dealership in St. James, more than 100 of the big, boxy GM vehicles sat cheek-by-jowl in the sunshine. They seemed to be screaming. Take off $10,000! yelled large, colorful cards from the...

Commentary: If we have to bail, can we all get a golden parachute?
October 3, 2008... Byline: John Kominicki If you doubt the visionary prowess of Steve Jobs, consider this: The calculator on the new Apple iPhone, turned lengthwise, can figure numbers up to the trillions. That may not have been important a month ago,...

Barry Sonnenfeld shooting movie on Long Island's East End.
October 3, 2008... Byline: Claude Solnik The East End has long been home to many of Tinseltown's biggest stars. But it's rarely been a place where Hollywood's moviemakers set up shop. Fresh off of winning an Emmy for directing ABC's Pushing...

Long Island's commercial real estate market teeters.
October 3, 2008... Byline: David Winzelberg As insulated as Long Island real estate has been through past recessions, experts say the recent collapse of financial firms on Wall Street will eventually result in lower prices and higher vacancies in commercial...

Melville's Lend America bucks trend, looks to buy up mortgages.
October 3, 2008... Byline: Laura Glasser With most of Wall Street unloading as much bad debt as possible, Melville's Lend America is using that to its advantage. Investors are approaching the originator of government-backed mortgages to help them collect...

Elmont horse hospital to open next month.
October 3, 2008... Byline: David Winzelberg Owners: Richard Schiavo, Michael Iavarone Hospital: Ruffian Equine Medical Center Veterinarian: Dr. James Hunt Before this year's Kentucky Derby, the owners of Big Brown would have bet that next month's...

Q&A with Richard Casey, owner of New Hyde Park-based R&B Films.
October 3, 2008... Byline: Laura Glasser Disc jockey Richard Casey's company is experiencing explosive growth even though his business is based on free giveaways. New Hyde Park-based R&B Films produces licensed DVD promotions for big names such as...

Commentary: Long Island Rail Road's dirty little secret.
October 3, 2008... Byline: LIBN Staff Editorial The next time a Long Island Rail Road conductor asks for your ticket, tell him no. Challenge him to a physical altercation. Chances are he won't be able to fight back. We're kidding; we don't support public...

Commentary: The market must work itself out.
October 3, 2008... Byline: Martin R. Cantor Who can blame investors if they don't want to relive the last several weeks? They have had to endure partisan bickering about how to cure Wall Street's woes, presidential speeches about an economic Armageddon and...

Aquaculture plan is OK.
October 3, 2008... Byline: Thomas A. Isles To the Editor: Your Sept. 5 article regarding Suffolk County's proposed shellfish aquaculture program in Peconic and Gardiners Bay, entitled Shell Game: Baymen Battle over Proposed Program, was way off base in...

Commentary: The weather is right for regional planning on Long Island.
October 3, 2008... Byline: Michael White Recently I attended a presentation by Pat McMahon, a regional vice president of Northrop Grumman and true action-oriented Long Island citizen. The presentation, sponsored by the Women Economic Developers of LI,...

Commentary: GOP's choice of V.P. candidate speaks volumes.
October 3, 2008... Byline: Jerry Kremer What do Hillary Clinton, Elizabeth Dole, Condoleezza Rice, Kay Bailey Hutchinson and Susan Collins have in common? Any one of them could be a credible candidate for vice president. Sarah Palin - give me a break! ...

Commentary: For sound economic policy, look beyond our borders.
October 3, 2008... Byline: Raymond Keating Amidst market turmoil and economic uncertainty, Americans will elect a new president and a new Congress in about a month. Unfortunately, in our nation's capital and on the campaign trail, few seem interested in...

Long Island Financial Briefs: October 3, 2008.(Website overview)
October 3, 2008... Byline: Laura Glasser Mortgage group helps homeowners via the Web The Mortgage Recovery Group, a group of local lawyers that counsel troubled homeowners, has a new Web site. The group, which is based in Amityville and Farmingdale,...

Long Island Real Estate Briefs: October 3, 2008.
October 3, 2008... Byline: David Winzelberg Storm clouds gather over Long Island RE market The mounting financial crisis will soon impact Long Island's already tenuous real estate market, says internationally known auction expert Steve Good from...

Report: Citi, Wells Fargo consider splitting Wachovia assets.
October 6, 2008... Byline: David Reich-Hale Wells Fargo and Citigroup continue to spar over which banking giant will end up owning Wachovia Corp. But a report in today's Wall Street Journal said the two companies could end up dividing the Charlotte-based...

Long Island Business News looking for rising business stars.
October 6, 2008... Byline: Long Island Business News Staff Report LIBN is accepting nominations for its annual salute to the Island's top business people under the age of 40. To qualify, nominees must work on Long Island and have an impressive record of...

Hewlett-based DCAP Group receives Nasdaq warning.
October 7, 2008... Byline: David Reich-Hale Hewlett-based DCAP Group Inc. said it received a deficiency notice from the Nasdaq Stock Market because the company's shares have traded below $1 for 30 consecutive business days. Shares of all companies on the...

Wife of former Garden City Hotel owner dies.
October 8, 2008... Byline: David Winzelberg Barbara Nelkin, 77, whose late husband Myron owned the Garden City Hotel, died at her home in Old Westbury Wednesday. Nelkin was a strong supporter of the arts and other nonprofit causes, said Patrick Smalley,...

Long Island Business News accepting nominations for rising business stars.
October 8, 2008... Byline: Long Island Business News Staff Report LIBN is accepting nominations for its annual salute to the Island's top business people under the age of 40. To qualify, nominees must work on Long Island and have an impressive record of...

Collect Calls: Complaints about telefundraising.
October 9, 2008... Byline: Claude Solnik Edward Wilson works for a telefundraising company in the Midwest. He and his workmates make calls from a list representing donors all over the country who have given to other charities. But it's not a prospects list....

JPMorgan Chase and Washington Mutual start sharing ATMs.
October 9, 2008... Byline: David Reich-Hale JPMorgan Chase and Washington Mutual customers can now use either ATM network without being charged. JPMorgan Chase said Wednesday customers can make withdrawals or balance inquiries for free. Those...

AvalonBay plans 530-unit project in Huntington Station.
October 9, 2008... Byline: David Winzelberg AvalonBay Communities is planning to turn 30 acres of vacant land in Huntington Station into a 530-unit mix of rental apartments and condominiums. The company's proposed transit-oriented development is located...

Commentary: Lacing into those who lack the sole to love wingtips.
October 10, 2008... Byline: John Kominicki In 1978, Stanford graduate student Theodore Steleski bludgeoned his faculty adviser to death with a two-pound ball-peen hammer. Mr. Steleski obviously had some issues, not the least of which was that he'd been...

Long Island's restaurant industry eyes November turnaround.
October 10, 2008... Byline: Ambrose Clancy Everyone likes a bargain. That's what more than 200 Long Island restaurants are hoping diners, woozy from sudden stock market dives and gloom from Washington, will feel about the third annual Restaurant Week,...

Long Island contractors offer tactics for surviving economic storms.
October 10, 2008... Byline: Ambrose Clancy Contractors across the Island are learning if you don't rely on and learn from experience, you're doomed, especially when the economic roof threatens to fall on you. Bill Taylor knows something about roofs,...

Long Island consumers tighten spending, forcing retail rents to decline.
October 10, 2008... Byline: David Winzelberg Christmas can't come soon enough for struggling retailers and their landlords, who are beginning to bear the brunt of declining rents and empty stores. As the economy continues to sputter, major tenants fell...

Town of Oyster Bay proposes new housing limits.
October 10, 2008... Byline: David Winzelberg The Town of Oyster Bay is proposing a new law designed to curb the growing number of huge homes on tiny lots. But builders are fighting the measure, saying it couldn't come at a worse time. The town plans to...

Q&A with Michael Smith, pres. of Hauppauge-based Safeguard Credit Counseling.
October 10, 2008... Byline: David Reich-Hale Card trick Michael Smith is president of Hauppauge-based Safeguard Credit Counseling, which does its best to prepare high school and college students for the aggressive world of credit cards, marketers and...

Commentary: Brain drain on Long Island gets worse.
October 10, 2008... Byline: LIBN Staff Editorial Excuse us for being less than optimistic about Long Island's economic prospects. For years, we have railed against the lack of work-force housing here. For years, we've pointed out the absurd lack of...

Commentary: Waiting for the big hurricane on Long Island.
October 10, 2008... Byline: Richard Kessel The prime period for hurricanes here on Long Island has passed, and unless a surprise storm wanders up the East Coast, we've escaped once again from the big one. We've been lucky. We really haven't experienced a...

Gov wrong on LIPA.
October 10, 2008... Byline: Caesar Trunzo To the Editor: In a time when accountability and oversight need to be strengthened, not weakened, I'm disappointed that Gov. Paterson vetoed a proposed law that would have prevented the Long Island Power...

A good pitch.
October 10, 2008... Byline: Patrick A. Heaney To the Editor: I am writing in response to comments made by Martin Cantor in his Aug. 29 column. Suffolk Time, Your Time is a public information campaign targeting Suffolk County residents, not a regional...

Commentary: Obama shouldn't be compared to Kennedy.
October 10, 2008... Byline: John Kiernan This is the most exciting presidential election we have seen since John Kennedy ran against Richard Nixon in 1960. I realize most of the people who will vote Nov. 4 were not alive when that election was held, but there...

Commentary: Democrats must watch for the Bradley effect.
October 10, 2008... Byline: Jerry Kremer Democratic presidential candidate Barack Obama leads his opponent John McCain in most opinion polls by an average of six points. On the face of it the margin seems pretty comfortable, except for one big question mark....

Commentary: What we must learn from The Great Depression.
October 10, 2008... Byline: Raymond Keating The pleas of late from Wall Street and Washington have been for government to do something to avoid another Great Depression. After all, the Great Depression is presumed to be a failure of the free market....

Commentary: Out East: October 10, 2008.
October 10, 2008... Byline: Jeff Miller When it comes to boating, the weak dollar gets it done Suppose your business provides a high-price, nonessential product that runs on expensive fuel. Oh, also, gas prices are soaring and your country has just...

Long Island Financial Briefs: October 10, 2008.
October 10, 2008... Byline: David Reich-Hale Bank disasters shift power in Gotham, nationwide All it took was a complete collapse of the financial industry to bring the power back to New York. Or so we thought. First, JPMorgan Chase acquired the...

Long Island Real Estate Briefs: October 10, 2008.
October 10, 2008... Byline: David Winzelberg Engel Burman flips half of Garden City office complex Just six months after media giant Bertelsmann sold a two-building complex in Garden City to Engel Burman Group for about $48 million, Engel Burman has...

Long Island Legal Briefs: October 10, 2008.
October 10, 2008... Byline: Michael H. Samuels That's gotta hurt A claim arising from a patient's fall from an X-ray table is barred by the state's shorter statute of limitations for medical malpractice and not the time limit for an ordinary negligence...

In a bad economy, a positive outlook helps you thrive.
October 10, 2008... Byline: Jeffrey Gitomer It must be true. It's all over the news. The economy is in BIG trouble. Stocks, mortgages, banks, insurance companies, the Yankees. All falling or failing. Falling from where? The biggest economic boom of all...

Long Island Environmental Briefs: October 10, 2008.
October 10, 2008... Byline: Bernadette Starzee Sound funds for environmental projects State and local governments and community groups in New York and Connecticut were recently awarded $912,994 in grants under the Long Island Sound Futures Fund. The...

Paul Ponturo joins Melville-based H2M as senior water resources engineer.
October 10, 2008... Byline: Bernadette Starzee NAME: Paul J. Ponturo TITLE: Senior Water Resources Engineer ORGANIZATION: H2M FAVORITE PASTIMES: Gardening, Watching Films and Volunteering on the Town of Huntington's Conservation Board Paul J. Ponturo...

Long Islanders on the Move: October 10, 2008.
October 10, 2008... Byline: Bernadette Starzee Associations The Three Village Chamber of Commerce has a new executive director. David Woods, an editor/writer for the online editorial firm www.bookdoctors.biz, was a long-time public relations director for...

Confessions of a telefundraiser.
October 10, 2008... Byline: Claude Solnik Wilson - his name has been changed - spoke to LIBN about what's going on at some high-pressure, high-cost fundraising firms. Telefundraisers, he said, use predictive dialers that let computers do the calling. He...

Policing the police charities on Long Island.
October 10, 2008... Byline: Calude Solnik Chances are you've gotten a call from a police-related group fundraising over the phone. Dozens of these groups telefundraise in New York, including some based here and others located around the nation. If you're...

Nonprofits work even harder to meet challenges of economic crisis.
October 10, 2008... Byline: Bernadette Starzee As the economy goes from bad to worse, nonprofits that provide assistance with housing, food and other necessities are anticipating funding will diminish just as the need is increasing. Many people in Long...

New IRS form presents challenges for nonprofits and lawyers.
October 10, 2008... Byline: Dan Heilman Though it's not always easy to believe, changes in tax laws are generally made to help taxpayers. The Internal Revenue Service's new Form 990 might be an example of medicine that's ultimately helpful, even though it...

Commentary: Long Island Children's Museum, a space to play and learn.
October 10, 2008... Byline: Kenneth R. Cerini In a refashioned 40,000-square-foot airplane hangar stands an interactive learning environment for both children and their parents. The Long Island Children's Museum has not only reinvented the learning...

Long Island Nonprofit Briefs: October 10, 2008.
October 10, 2008... Byline: Bernadette Starzee A night of shopping and giving Simon's Roosevelt Field in Garden City and Walt Whitman Mall in Huntington Station are inviting local charities and nonprofit organizations to participate in the Simon Evening...

Suffolk County leaders still working on nursing home deal.
October 14, 2008... Byline: Michael H. Samuels A possible deal between Suffolk County Executive Steve Levy and Presiding Officer Bill Lindsay to keep the John J. Foley Skilled Nursing Facility open is on shaky ground. Levy said Tuesday afternoon that the...

How To...Choose a business hotel.
October 17, 2008... Byline: Bernadette Starzee When it comes to business hotels, the choices stretch as far as the Long Island Expressway and beyond. Whether you're planning a meeting for several hours or several days, or looking to accommodate out-of-town...

Commentary: Levine on Leadership.
October 17, 2008... Byline: Stuart R. Levine When lending, forget about the crisis In just the past few weeks we have witnessed a tidal wave of uncertainty and change in the U.S. economy. Some of America's most prestigious financial institutions like...

A new taxman cometh: Robert J. Schaffer joins Jericho accounting firm.
October 17, 2008... Byline: Bernadette Starzee NAME: ROBERT J. SCHAFFER TITLE: CO-MANAGER OF THE TAX DEPARTMENT ORGANIZATION: SATTY, LEVINE & CIACCO FAVORITE PASTIMES: GARDENING, SWIMMING AND BOATING Robert J. Schaffer has joined Satty, Levine & Ciacco,...

Long Islanders on the Move: October 17, 2008.
October 17, 2008... Byline: Bernadette Starzee Accounting Marcum & Kliegman announced the promotion to partner of four certified public accountants in its Melville office. Diane Giordano, formerly a senior manager, is a partner in the tax department....

Outsourcing gains a foothold in banking on Long Island.
October 17, 2008... Byline: Claude Solnik When problems surfaced with residential mortgages, many banks ran to their balance sheets to assess the damage. New York Community Bancorp executives didn't blink. The bank outsources its residential mortgages. ...

Despite credit crunch, banks continue to make loans.
October 17, 2008... Byline: Claude Solnik For David Wenger, president of Plainview-based L.D. Wenger Construction Co., the credit crunch is merely a news item. He still has the same credit line with Citibank he's had for years. I have not been impacted,...

Technology tightens the connection between banks and customers.
October 17, 2008... Byline: Bernadette Starzee In good times and bad, banks are in the business of building relationships. Two recent technology advancements have moved banks closer to their customers: mobile banking and identity protection and management....

In the competition for your money, banks look to branding.
October 17, 2008... Byline: Claude Solnik What's the first word that comes to mind when you think of banking? It may be bailout. But at the same time, for many banks, the most important word is branding. As many well-known big banks hemorrhage cash and...

Ones to Watch on Long Island: October 17, 2008.
October 17, 2008... Byline: Claude Solnik Adam S. Fink Assistant Secretary and Branch Manager Astoria Federal Savings Fink in September was named to the helm of this Lake Success-based bank's Greenvale branch, bringing 11 years of banking and...

Taking a look at changes in tax laws for 2008.
October 17, 2008... Byline: Heather A. Kmetz As the Dow Jones industrial average plummeted to levels not seen in five years and the American economy shed jobs for the ninth consecutive month, Congress passed the Emergency Economic Stabilization Act of 2008....

Commentary: Long Island pearl parent promotes Not-for-Profits.
October 17, 2008... Byline: Kenneth R. Cerini That began as a campaign to generate awareness for a local Long Island town has now turned into its most anticipated event of the year. The annual Oyster Festival, run by the Rotary Club of Oyster Bay, has...

Long Island Nonprofit Briefs: October 17, 2008.
October 17, 2008... Byline: Bernadette Starzee Media blitz to fight pancreatic cancer Cablevision Systems Corp. and The Lustgarten Foundation for Pancreatic Cancer Research have rolled out a public awareness campaign to help fight pancreatic cancer, the...

How they got there: 11 Long Islanders share the best advice they ever received.
October 17, 2008... Byline: Ambrose Clancy Advice: The universal communication. Everyone has given and received it. But few act on it since so much advice is impractical, confusing or swamped in cliche. Shakespeare wrote the most stirring advice from a...

Commentary: A depression by any other name would still stink.
October 17, 2008... Byline: John Kominicki Federal Reserve officials have been tap dancing around the R-word for the past year, unwilling to concede that the economy has slipped into that enigmatic condition known as negative growth. Part of their...

Bright benefits: LI solar power industry gets tax credit extension through bailout bill.
October 17, 2008... Byline: Ambrose Clancy Although they weren't praying for an economic catastrophe, the solar power industry on Long Island will take what they can get. Included in the $700 billion bailout bill package President Bush signed into law Oct. 3...

Two years later, little achieved on immigration on Long Island.
October 17, 2008... Byline: Michael H. Samuels With two of Suffolk County's most controversial immigration laws bogged down in the courts, advocates and members of the Legislature say County Executive Steve Levy's policies have failed to drive illegals from...

Industrial real estate market slowed but still steady.
October 17, 2008... Byline: David Winzelberg Though anxiety abounds in the office and retail markets, experts say the fallout from the Wall Street collapse should be less dramatic in the industrial real estate sector. The credit crunch, however, has put a...