Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
Consumer confidence in the metropolitan area dropped last month because of the federal government shutdown, experts said Friday.
The Siena College Research Institute reported its consumer confidence index for Long Island, New York City and its northern suburbs fell 6.4 points in October to 72.5 from the previous month.
Index readings below 76 indicate the people who are pessimistic about...Read more »
Much of Long Island's residential real estate market is showing signs of recovery, with rising prices and shrinking inventory.
But median home prices in South Shore areas hit hard by Sandy have declined, showing buyers are wary.
Would you buy a home that was flooded during Sandy? What if its foundation was raised, to make it less susceptible to flooding?
Vote and leave a...Read more »
Roof Diagnostics Solar in Bohemia will hold a job fair on Wednesday to try to fill 20 to 30 positions that include sales and installation.
The fair will take place from 4 to 8 p.m. at the company, located at 170 Wilbur Place, Suite 100.
Job-seekers are urged to attend a short presentation at 4 p.m. or 6 p.m. Candidates should also bring a resume and be prepared for a brief interview...Read more »
ChyronHego Corp., a Melville-based graphics company, said Friday that its third-quarter net loss widened to $1 million, from $700,000, a year earlier, because of layoff and merger expenses.
The company, which creates graphics for broadcast, cable and online companies, said that excluding those expenses, net income was $800,000. The company has said that it eliminated a number of positions...Read more »
Investcorp, a Bahrain-based investment firm, has acquired three Long Island office buildings through the purchase of a portfolio of buildings and retail properties in the United States valued at $250 million.
The Long Island properties include three office buildings in Garden City, Mineola and Rockville Centre -- some of the most active office markets on the Island.
The offices are at...Read more »
Aceto Corp. on Thursday reported a 135 percent increase in profits for the July-through-September period as drugmakers used more chemical compounds from the Port Washington company.
Aceto said it earned $11 million in the quarter ended Sept. 30, compared with $5 million a year earlier.
Sales climbed nearly 16 percent to $129 million in the first three months of the company’s 2014 fiscal...Read more »
Cedar Realty Trust, Inc., a real estate investment trust specializing in ownership of shopping centers in the Northeast, reported higher quarterly earnings because of an increase in revenue from rent.
Port Washington-based Cedar Realty said funds from operations -- a measure used to evaluate real estate investment trust earnings -- was $9.5 million, or 13 cents per share, in the three...Read more »
Construction began Wednesday on a $15 million drug testing facility on Cold Spring Harbor Laboratory’s Woodbury campus.
The 8,000-square-foot space at the lab’s Genome Center will focus on drugs used to treat lung, liver, pancreatic, brain, prostate and breast cancers as well as melanoma and leukemia.
Dr. Bruce Stillman, the lab’s chief executive, said it “envisions collaboration with...Read more »
Agua Enerviva, a manufacturer of energy drinks, recently moved its headquarters to a former Grumman Corp. factory in Bethpage.
The company, begun last year by former executives of the maker of Vitamin Water beverages, has a dozen employees. It initially opened in Greenwich, Conn.
Agua Enerviva has rented 3,000 square feet at 15 Grumman Rd. West. The former aircraft plant, which totals...Read more »
A year ago, superstorm Sandy swamped Long Island's South Shore and left many residents and businesses in the dark for more than a week.
Many businesses were back up and running quickly, but others had a tougher road back. Some faced costly physical damage and inadequate insurance and other financing to rebuild. Some faced a different hurdle: Their customer base was gone, because so many nearby...Read more »