Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
Is it right for states to woo companies away with tax breaks?
This week, Florida officials said they're spending $2 million in tax and economic concessions to woo Adecco's North American headquarters -- and 185 jobs -- from Melville to Jacksonville. That's more than $10,000 per job.
While Adecco did not seek tax breaks from Suffolk County before deciding to move, often, companies...Read more »
It's tax time, and that means tax refund time for some of us.
What will you do with your refund? Save it? Spend it?
If you're planning to spend it, will you use it for something special, like going on a vacation or buying a new car? Or will you use it to pay off debt or cover current bills?
Vote and leave a comment; results and a selection of comments will appear in next...Read more »
A major bitcoin exchange has apparently gone bust after racking up catastrophic losses. Other companies that trade in the virtual currency said Tuesday that the website of Mt. Gox, a Tokyo-based exchange, had disappeared, possibly causing hundreds of millions of dollars worth of losses.
Bitcoin enthusiasts were quick to call the incident an isolated case, and a variety of retailers have...Read more »
Record snowfall, icy roads and frigid temperatures have tested Long Islanders this winter. Repeated storms have forced schools and businesses to close, and cold temperatures have boosted heating bills. Heavy snow and ice is taking a toll on roofs and gutters, and epic potholes are taking a toll on cars.
What's been your biggest expense from the cold? Vote and leave a comment; results and a...Read more »
CVS, the nation’s second-largest drugstore chain, this week said it will stop selling cigarettes and other tobacco products as it continues to shift its focus toward being more of a healthcare provider.
The company said it will phase out cigarettes, cigars and chewing tobacco by Oct. 1 in its 7,600 stores nationwide. CVS said it will lose about $2 billion in annual revenue because of the move.
Do...Read more »
In a few days, the Dow Jones industrial average has dropped more than 1,000 points. In mid-January, the Dow was trading just shy of 16,500. As of 2:30 Monday, the Dow stands at 15,436.06, down more than 260 for the day.
The Standard & Poor's 500 index and the Nasdaq composite have also seen significant declines, as concerns about the global economy, U.S. company earnings and turmoil in...Read more »
While consumers say they're very concerned about the safety of their personal information after the massive security breach at Target -- and more than a third of Americans think their info was compromised -- most haven't changed their shopping habits as a result, a new Associated Press--GfK Poll finds.
What about you? Are you trying to pay with cash rather than plastic? Are you...Read more »
JPMorgan Chase CEO Jamie Dimon is getting a raise for 2013, though the bank paid $20 billion in regulatory fines this year.
The New York Times reports the bank's board voted Thursday for the raise; details were not released. The vote of confidence follows a move by the board last year to slash Dimon’s 2012 compensation by half -- to $11.5 million -- after the embarrassing London Whale...Read more »
It’s been more than a year since superstorm Sandy devastated Long Island, but the aftereffects are still being felt in some areas.
In the third quarter of 2013, home prices on the South Shore in Nassau County fell by 1.3 percent year-over-year. In contrast, overall Long Island home prices rose 4.1 percent.
What's the story where you live? Is Sandy still having an impact on real estate...Read more »
In 2013, stocks had their best year in more than 15 years. The major indexes advanced on the Federal Reserve's massive stimulus and expectations for accelerating growth in coming months.
The Standard & Poor's 500 index rose 29.6 percent over the year, its best performance since 1997, while the Dow Jones industrial average climbed 26.5 percent in its best year since 1995. The Nasdaq...Read more »