Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
Almost every week executives of CPI Aerostructures Inc. receive an entreaty to leave Long Island for another state.
Some of the sales pitches are "very aggressive," said Vince Palazzolo, chief financial officer at the Edgewood-based defense contractor. "I probably get, on average, a call a week from different states," such as Ohio, Pennsylvania and the Carolinas.
He...Read more »
Bridge Bancorp said it would issue $25 million in stock to help pay for its acquisition announced earlier this week of a smaller competitor.
The parent of Bridgehampton National Bank said Monday that it would pay $5.3 million to acquire privately-held First National Bank of New York, which has three branches on Long Island and a lending office in Manhattan.
“The purpose of the [stock]...Read more »
Consumer confidence in the New York area rose in September as worries eased about the price of food and gasoline.
The Siena College Research Institute said Wednesday its consumer confidence index for Long Island, New York City and its northern suburbs climbed 4.1 points to 78.8 last month compared with August.
The area index also remained above 76 points, indicating the number of people...Read more »
More than 80 Long Island women entrepreneurs will showcase their handiwork at a business expo this week.
The 13th Women's EXPO will take place Thursday at the Middle Country Public Library in Centereach. From 11 a.m. to 6 p.m., the businesswomen will exhibit their creative work, including jewelry, specialty foods, clothing, art, pottery and other crafts.
Admissions is free. Click...Read more »
Teachers Federal Credit Union said it opened its 25th branch, in Merrick, its first in Nassau County.
"Merrick symbolizes our initial foray into Nassau County, and we plan additional branches to provide financial services to our growing membership," Robert G. Allen, president and chief executive, said in an announcement.
The branch, at 1638 Merrick Rd., opened Sept. 20.
Teachers...Read more »
When will you start your holiday shopping this year?
Are you a procrastinator or an early bird? Do you like to be in and out of the stores ahead of the crowds or do you enjoy the hustle and bustle of Black Friday?
Vote and leave a comment; results and a selection of comments will appear in next Sunday's business section....Read more »
Bridge Bancorp., parent of the 23-branch Bridgehampton National Bank, said Monday it would pay $5.3 million to acquire privately-held First National Bank of New York, which has three branches on Long Island and a lending office in Manhattan.
Bridge said the deal is expected to close in the first quarter of next year. Shareholders of FNBNY will receive 244,110 Bridge shares, valued at $5.3...Read more »
Amneal Pharmaceuticals LLC announced Monday that it plans to buy four generic drugs from a competitor for an undisclosed amount.
Amneal, which has factories in Hauppauge and South Yaphank, said the four products are owned by Actavis Inc. of Parsippany, N.J. Earlier this year, Actavis announced plans to purchase Irish drugmaker Warner Chilcott PLC.
The deal witih Bridgewater, N.J.-based...Read more »
TUESDAY, Oct. 1
ACG New York panel and reception, Plainview
ACG New York; discussion on attracting and retaining companies on Long Island preceded by cocktail reception and networking, program is followed by question-and-answer session, register, 6 to 8:30 p.m., Ferrari Maserati of Long Island, 65 South Service Rd., $150 in advance; $165 on site, register, acgnyc.org/events, 631-752-7400.
Minimum...Read more »
Gov. Andrew Cuomo has vetoed legislation permitting industrial development agencies to help retailers that are harmed by disasters, such as superstorm Sandy, officials said Saturday.
In a memo, dated Friday, Cuomo said he nixed the bill because it would undercut a provision of the 2013-14 state budget that bars IDAs from aiding stores. Cuomo had pushed for the prohibition.
"This...Read more »