Inside Long Island Business

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

Hauppauge-based start-up raises $1M in angel funding

GroupGifting.com, a Hauppauge-based social and mobile gifting start-up,

(Credit: Nicole Rochelle, 2012)

GroupGifting.com, a Hauppauge-based social and mobile gifting start-up, recently raised more than $1 million in an initial round of angel financing, the company said.

The start-up, which works with retailers and provides a mobile platform to sell gift cards, began meeting with potential investors this past November after officially launching during the summer, said chief executive Tyler Roye....

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Hofstra students' app wins funding at competition

Two groups of Hofstra University students put their start-up ideas to the test Friday by competing in the first-ever Cross-Campus Challenge, with one team taking home second prize for their idea of a mobile application to help forgetful boyfriends and husbands.

The competition, run by Capital One Bank in Manhattan, pitted teams of student entrepreneurs from Hofstra University, LaGuardia Community...

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Experts: LI gasoline infrastructure OK so far

Gasoline tankers lined up at Northville Industries on

(Credit: James Carbone)

Petroleum industry experts said Friday they don’t expect the current storm to disrupt the supply of gasoline to Long Island, as happened after superstorm Sandy.

The one caveat in their prediction is that if the blizzard of 2013 causes widespread power outages to the region’s infrastructure, including a gasoline pipeline from New Jersey to Long Island, the supply of gasoline could get crimped.

Panic...

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Veeco: Bookings down, earnings delayed

Veeco mechanical engineer Mathew Levy holds a data

(Credit: Chris Ware)

Veeco Instruments Inc. said bookings were down during the last three months of 2012, but it postponed the release of fourth quarter and yearly earnings until it resolves ongoing accounting problems.

Veeco, which makes manufacturing equipment for LED lighting, said fourth-quarter bookings were down 35 percent from the same period last year, in line with expectations.

The Plainview company...

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Poll: Do you plan to buy a generator?

A generator is seen outside a home in

(Credit: Handout)

With the extended power outages after superstorm Sandy, and another outage expected with the predicted blizzard Friday night into Saturday, do you plan to buy a generator for your home or business?

Sales at one generator sales company, Long Island Emergency Power of Deer Park, are expected to more than triple this year because of Sandy, owner Michael Towers said in a recent interview with...

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Touro law clinic for Sandy victims gets $80G grant

Touro Law Center’s newly opened Disaster Relief Clinic, which offers free legal aid to superstorm Sandy victims from law students and volunteer lawyers, has received an $80,000 grant from the Robin Hood Relief Fund.

The grant will allow the clinic to continue through the year, said Touro Law dean Patricia Salkin. The Disaster Relief Clinic was initially made possible by a million-dollar private...

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Rebuilding from Sandy tops LIA's 2013 agenda

Rebuilding from superstorm Sandy tops the lobbying agenda of the region's largest business organization.

“To the extent the federal aid is allowed to be used for mitigation purposes and not just restoration, there’s an opportunity to invest in the infrastructure that didn’t exist before Sandy,” Kevin Law, president and chief executive of the Long Island Association, said Thursday. 

“That...

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Capital One to close Mattituck operation

A Capital One bank office window. The Capital

(Credit: AP)

Capital One Financial Corp. is closing a Mattituck facility, as part of a previously announced plan to consolidate some operations to Melville and Richmond, Va.

The facility houses a Lockbox and Deposit Escrow operation.  The location will close on June 1, and the 42 employees there will be offered jobs in Melville, according to the company and a state regulatory filing dated Wednesday....

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LIA makes suggestions for immigration reform

Long Island Association chief executive Kevin Law.

(Credit: Handout)

As President Barack Obama seeks to make immigration reform a cornerstone of his new administration, the Long Island Association, which works to support local businesses, has also spoken up.

In a letter to the chairs of the Senate and House Judiciary Committee, LIA president Kevin Law noted several areas of immigration reform that could "help drive the new innovation economy we are building...

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Tonna elected chairman of Suffolk IDA

Paul J. Tonna, of Huntington, a former legislative

(Credit: Newsday, 2008 / Thomas A. Ferrara)

Paul J. Tonna, a former legislative chief in Suffolk County, was elected unanimously Thursday by the county's Industrial Development Agency to be its chairman.

Tonna succeeds Jim Morgo who resigned last year, citing conflicting obligations.

Tonna's election came two days after a contentious legislative vote appointing him to the IDA board. Some lawmakers expressed concern about Tonna...

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