Inside Long Island Business

Get the latest news and trends on Long Island companies and the people behind them.

MSC Industrial Direct to buy distribution business

MSC Industrial Direct Co., Long Island's seventh-largest public

(Credit: Newsday / J. Conrad Williams Jr.)

MSC Industrial Direct Co., the Melville-based distributor of industrial supplies and one of the largest public companies on Long Island, said Friday it will acquire the North America distribution business of the Barnes Group in a $550 million deal.

MSC, which is the area's seventh biggest public company by revenue, will finance the deal with available cash and a loan under a new line of credit,...

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Estee Lauder recruiting for more than 100 product line positions

The Manhattan-based skin care and cosmetics company is

(Credit: Newsday, 2007 / Ana P. Gutierrez)

Estee Lauder will be hiring for more than 100 open positions at an open recruitment event Tuesday.

The Manhattan-based skin care and cosmetics company is trying to fill product line positions at its Melville facility, which entails assembling and packaging Estée Lauder products.

The recruitment event will be run by staffing company Manpower at the Suffolk County One-Stop Employment Center...

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No alteration to Cuomo IDA proposal

Gov. Andrew M. Cuomo did not alter his initiative for more oversight of industrial development agencies Thursday, the final deadline for amendments to his proposed 2013-14 budget before negotiations begin with the State Legislature.

Cuomo wants IDA projects that receive an exemption from the state sales tax to also be endorsed by a regional economic development council, which he...

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Cablevision raises some cable TV package rates

Cablevision Systems Corp. said Thursday that some of its television subscribers would pay more for certain services, effective April 1.

A $2.98-per-month “sports programming surcharge” will be applied to Family or Value packages or above. Broadcast Basic and Optimum Economy packages will not be affected.

Cablevision executives said the surcharge was needed because of the rising...

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Metro area prices up in January

Prices in the metropolitan area rose last month because of the higher cost of housing and energy.

The federal Bureau of Labor Statistics Thursday reported its consumer price index for the 31-county region that includes Long Island and New York City climbed 2.2 percent in January compared with a year earlier.

The rate of increase, year over year, was the highest since April 2012, when...

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Execs: Early childhood education is a good investment

State Sen. John J. Flanagan (R- East Northport)

(Credit: Howard Schnapp)

Local officials gathered at CA Technologies Wednesday to tout the economic benefits of early childhood education programs.

Speaking at the day care center inside CA’s Islandia headquarters, the officials released a report showing every $1 invested in prekindergarten programs generates $1.86 in economic activity.

The leaders endorsed Gov. Andrew M. Cuomo’s proposal for $25 million in...

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Hain Celestial chief sees 'big opportunities' for Herbalife

The viability of nutritional supplement company Herbalife has support from Long Island executive Irwin Simon, CEO of Melville-based organic product company Hain Celestial.

Debate over the stability of Herbalife as a company has cascaded business news headlines for the past month, fueled by the public feud between high-profile investors Bill Ackman and Carl Icahn -- who have taken opposite...

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SBA approves up to $1B in Sandy disaster loans for NY

Businesses and homeowners in declared disaster areas may

(Credit: Newsday / Alejandra Villa)

The Small Business Administration has approved more than $1 billion in disaster loans for New York homeowners and businesses affected by superstorm Sandy, the federal agency said Tuesday. That amounts up to roughly 15,000 loans.

Businesses and homeowners in declared disaster areas are able to apply for SBA disaster loans, which are offered low interest rates. Businesses may apply for up to...

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Gibbs, Keen join LI economic council

Farmingdale State College president W. Hubert Keen and

(Credit: Newsday, 2012 / J. Conrad Williams Jr.)

A laboratory director and college president have been appointed to the Long Island Regional Economic Development Council.

Doon Gibbs, interim director of Brookhaven National Laboratory and W. Hubert Keen, president of Farmingdale State College, participated in council deliberations as members for the first time Tuesday afternoon.

Gibbs has led the lab since January; a search is under...

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NY program saves 300 LI jobs

The state’s Shared Work program, whose aim is to avert layoffs, saved 300 jobs on Long Island in 2012, nearly one-tenth of the jobs saved statewide, the Labor Department said Tuesday.   

 That’s down, however, from 350 in 2011. And the numbers also declined in other regions around the state, something the Labor Department attributed to improved economic conditions.

Under...

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