Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
The Long Island economy continues to show slow signs of recovery: job creation is up, unemployment is down, and fewer homeowners are underwater on their loans. But the recovery has been uneven, and many individuals and companies on Long Island are still feeling the effects of the recession, and that of superstorm Sandy.
How do you think the Island's economy will do in the coming year? Vote...Read more »
Prices in the metropolitan area rose modestly last month compared with a year ago because of higher rents for apartments and homes.
The federal Bureau of Labor Statistics on Tuesday reported its consumer price index for the 31-county region that includes Long Island climbed 1.2 percent in November compared with 2012.
The increase was one of the smallest, year over year, in 2013. Such...Read more »
MONDAY, Dec. 16
EFFECTIVE NETWORKING | East Hills
Learn tips on networking effectively, 11 a.m.-1 p.m., Sid Jacobson JCC, 300 Forest Dr., free, sjjcc.org, 516-484-1545, ext. 212.
SPEAKER ON OBAMACARE | Nesconset
Discussion with Q&A, "Obamacare, Business, Jobs and You," 7 p.m., Smithtown Library Nesconset Branch, 148 Smithtown Blvd., free, smithlib.org, 631-543-3510.
TUESDAY,...Read more »
A new Residence Inn by Marriot will open for business Saturday in Central Islip.
The 125-suite hotel, which is franchisee-owned and managed by Livingston, N.J.-based The Briad Group, is located adjacent to the federal and state courthouses at 7 Court House Dr. The lodging hopes to attract corporate and social travelers as well as those on business at the courthouses, said Kerrianne Zeiner,...Read more »
Stony Brook University’s business incubator program will receive up to $375,000 over three years to expand its offerings and connect tenants to nearby research institutions such as Brookhaven National Laboratory, state officials announced Thursday.
The money was awarded competitively by Empire State Development from dozens of applications received from across the state, according to Kenneth...Read more »
Aceto Corp. on Thursday said it had purchased a French seller of ingredients used in cosmetics and other personal care products.
The Port Washington-based chemicals supplier bought Inter'actifs for an undisclosed price. Inter'actifs is based in Saint-Brieuc.
"While small in size, this strategic investment will expand the scope of our specialty chemicals business in Europe,"...Read more »
Long Island Business News named a new publisher and editor, two posts that had been vacant since October, the paper's owner The Dolan Co. announced Wednesday in a news article on the publication's website.
Scott Schoen, the audience development manager for The Dolan Co. was named publisher, and senior reporter Gregory Zeller was named editor for the 7,500-circulation business weekly.
Schoen...Read more »
Health products provider Henry Schein Inc. announced on Tuesday it is increasing its stock buyback program by an additional $300 million.
“Our strong balance sheet provides us with the financial flexibility to return capital to shareholders while continuing to invest in our business and maintaining our ability to capitalize on our growth opportunities,” chief executive Stanley Bergman said...Read more »
On Long Island, it's a frequent scenario: A private company threatens to move, or says it can't expand without government help. So a county or town Industrial Development Agency grants breaks on property taxes and/or sales taxes to convince the company to stay or expand, thereby preserving or creating jobs on the Island.
Do you think the tax benefits are worth the cost? Vote and leave...Read more »
Hi-Tech Pharmacal reported Tuesday that its profit for the August-October period fell 87 percent compared with a year earlier, after setting aside $9.5 million for a possible settlement of a pricing investigation in Texas.
The Amityville-based manufacturer of generic and brand-name drugs said profit for the quarter ended Oct. 31 was $1.2 million compared with $8.9 million in 2012.
Sales...Read more »