Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
Forest Laboratories Inc. has begun a cost-cutting effort that could lead to the elimination of 10 to 20 percent of its workforce on Long Island, according to a company spokesman.
The Manhattan-based company, which is known for developing branded prescription drugs, employs more than 600 people in its Commack and Hauppauge locations.
The company spokesman declined to give exact figures...Read more »
Chembio Diagnostics Inc. on Thursday reported a loss for the final three months of 2013 on falling sales of its rapid tests for the AIDS virus and syphilis.
The Medford-based manufacturer said it lost $262,000 in the October-December period compared with a profit of $492,000 a year earlier.
Sales in the fourth quarter dropped a tenth of 1 percent to $7.86 million.
Lawrence Siebert,...Read more »
Gabila's Knishes has kicked production into high gear, but demand is still outstripping supply for its fried square knishes after a five-month absence.
"We have customers telling us they're literally flying off the shelf," said Stacey Ziskin Gabay, executive vice president and general counsel of the Copiague-based maker of square, fried knishes.
Ziskin Gabay said that many outlets reported...Read more »
Site plans for the Nassau Coliseum redevelopment, led by developer Bruce Ratner, will be submitted to the Town of Hempstead within two months, and a building permit application will be filed by fall, said Ed Blumenfeld, the president of Blumenfeld Development Group, which is partnering with Ratner on the project.
"We hope that in the next 30 to 60 days we can have some announcements," Blumenfeld...Read more »
Consumer confidence in the metropolitan area declined last month as the stock markets were roiled and winter intensified.
The Siena College Research Institute reported Wednesday that its consumer confidence index for Long Island, New York City and its northern suburbs was 77.6 points in February, down 3.4 from the previous month.
Index readings above 76.01 points mean the number of people...Read more »
A New York State Supreme Court judge has denied an attempt to speed up the foreclosure process on a $103 million loan taken out by the Long Island Marriott Hotel and Conference Center in Uniondale, owned by New York Islanders owner Charles Wang.
Judge Roy S. Mahon denied the motion for summary judgment to foreclose on the Marriott, citing inadequate proof that the lenders held the securitized...Read more »
Joseph J. Battaglia already carries the titles of president and chief executive of defense contractor Telephonics Corp based in Farmingdale.
Now add honorary chief petty officer of the Coast Guard to those designations.
Battaglia received the honorary rank in a ceremony with Coast Guard brass, Telephonics said in a news release Monday. Commandant Adm. Bob Papp and Master Chief Petty...Read more »
Hofstra University will hold a free information session about its Entrepreneurial Assistance program on Wednesday, March 5, at 6 pm. The program teaches skills to start your own business, including competitive analysis, marketing, financing and insurance.
The 60-hour program will be offered from March 17 to May 14 on Monday and Wednesday evenings from 6 to 9 pm for $495 including course materials...Read more »
TUESDAY, March 4
BUSINESS CONFERENCE | Melville
"Establishing a Competitive Edge," featuring author Duane Cashin, for business owners and managers focused on increasing sales and profits in this economy, 8-10 a.m., Melville Marriott, 1350 Old Walt Whitman Rd., $45, $60 at the door, register, prosperityconference.com, 631-664-4450.
DEALING WITH STRESS | Garden City
"How Stress...Read more »
Henry Schein Inc., Long Island’s largest publicly traded company by revenue, has been ranked first in its category in Fortune magazine’s list of the world’s most admired companies.
Henry Schein topped all health care industry wholesalers in making Fortune’s list for the 13th straight year. The Melville-based distributor of dental, medical and veterinary products and services was the only Long...Read more »