Inside Long Island Business

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

Cuomo: State oversight would make IDAs more effective

New York Gov. Andrew M. Cuomo says he

(Credit: AP )

Gov. Andrew M. Cuomo said Thursday he wants Industrial Development Agencies to be more effective in preserving and creating jobs, and that’s best achieved with more state oversight.

Cuomo, responding to reporters’ questions after a speech at SUNY Old Westbury, said, “When it comes to the IDAs that are giving out tax benefits, I want to make sure these entities are doing it as well as it can...

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New United Way-Hofstra board fellows start work

Hofstra business students, Max Liang, left, and Ezekiel

(Credit: Handout)

United Way of Long Island, one of the largest local nonprofits, recently selected its second cohort of  fellows in a program it is running with Hofstra University's Zarb School of Business.

Zarb students Max Liang, 25, and Ezekiel Arrington, 26, were named the United Way-Hofstra board fellows earlier this year. As part of the fellowship, Liang and Arrington will be able to sit in on United...

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$318M Bristal Assisted Living deal closes

Among the Bristal Assisted Living properties on Long

(Credit: Barry Sloan, 2012)

The Engel Burman Group said Wednesday it had closed its $318 million deal to buy back the six Bristal Assisted Living properties it sold in 2007.

The Garden City-based real estate developer partnered with Chicago-based Harrison Street Real Estate Capital Llc to purchase the Long Island facilities as it plans to expand the franchise into New England and New Jersey.

Engel Burman and Harrison...

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January sales tax collections up in Nassau, Suffolk

Rhonda Verrier takes a picture of the volunteers

(Credit: Newsday / John Paraskevas)

Long Islanders resumed spending in force last month after a sluggish holiday shopping season marred by superstorm Sandy, the Connecticut school shooting and the "fiscal cliff" debate in Washington.

Sales tax collections soared year over year in January. They were up 9 percent in Nassau County and 5 percent in Suffolk County, the state Taxation and Finance Department said Wednesday.

January's...

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Henry Schein reports record fourth-quarter profits

Melville-based Henry Schein's net income rose more than

(Credit: Ed Betz, 2012)

Henry Schein Inc., a Melville-based distributor of medical products, reported record fourth-quarter profits Wednesday as its sales of supplies to dentists, doctors and veterinarians continue to grow around the globe.

The company's net income rose more than 7 percent, to $ 112,467 million or $1.26 per share, during the last three months of 2012 compared to the same period in 2011. Sales rose...

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Deal to sell LI community papers called off

A deal to sell several Long Island community newspapers owned by Queens-based Tribco Llc to a Washington D.C. investment firm has been called off, Tribco confirmed Tuesday.

The purchase of all of Tribco's assets -- which consists of several small publications in the region -- by Phoenix Financial Holdings was announced Jan. 2. The terms of the deal were not disclosed, and sometime in the month...

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Leviton to host job fair to fill positions

Leviton Manufacturing Co. will host a job fair

(Credit: John Dunn, 2009)

Leviton Manufacturing Co. will host a job fair at its headquarters in Melville on Feb. 20.

The company, which makes electronic products, including equipment for charging electric vehicles, is hiring for a variety of positions. Among them are engineering, product management, e-business and technical customer service.

Leviton is looking for experienced professionals but also offers internships...

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Doors are open at LaunchPad Long Island

Rich Foster and Andrew Hazen sit in one

(Credit: Newsday / Audrey C. Tiernan)

LaunchPad Long Island, the new co-working space in Mineola, officially opened its doors Tuesday morning.

The building, a project of local investors Andrew Hazen and Rich Foster, allows start-up companies to rent share office space for cheap and work in a social environment to promote creativity.

About 10 start-up groups have been accepted to the co-working space at LaunchPad to start...

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Probe: Banks withholding $200M in Sandy payouts

Jaime Green sits in her gutted Oceanside home,

(Credit: Steve Pfost)

Banks and mortgage servicers are withholding more than $200 million in insurance settlements from New Yorkers whose homes were battered by superstorm Sandy, hobbling efforts to rebuild, state officials said.

An investigation by the state Department of Finance found Citigroup, Bank of America, J.P. Morgan Chase and others are holding a total $208 million in settlements to 6,600 families statewide,...

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East Meadow Pathmark to close in May

The East Meadow Pathmark on Front Street will

(Credit: Kevin P. Coughlin, 2008)

The East Meadow Pathmark on Front Street will close its doors in May, according to its parent company, A&P.

The store is closing because of an upcoming expiration of the lease, said A&P spokeswoman Marcy Connor. The company filed a WARN notice -- required for mass layoffs and plant closings -- with the state Department of Labor noting that 118 employees will be affected.

It is...

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