Inside Long Island Business

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

Bethpage FCU opens first hospital branch

Bethpage Federal Credit Union, the state's largest in assets, opened its first branch in a hospital this week -- in a lobby of Nassau University Medical Center in East Meadow.Opened Tuesday, it is the credit union's 27th branch and is expected primarily to serve hospital employees, although it is open to patients, visitors and others.The 625-square-foot branch is near the Carman Avenue entrance...

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Poll: Does JPMorgan's Jamie Dimon deserve a raise?

JPMorgan Chase CEO Jamie Dimon is getting a

(Credit: Getty Images, 2012)

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...

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FDA approves generic eye solution from Amityville's Hi-Tech Pharmacal

Amityville-based Hi-Tech Pharmacal headquarters on Sept. 10, 2012.

(Credit: Steve Pfost)

Hi-Tech Pharmacal Co. on Thursday announced federal approval of a generic liquid drug used to treat inflammation and eye pain after cataract surgery.

The Amityville-based drugmaker said the Food and Drug Administration had approved Bromfenac Ophthalmic Solution, 0.09% (once-a-day), a generic alternative to Bromday Ophthalmic Solution, 0.09%, made by ISTA Pharmaceuticals Inc. in California.

Hi-Tech...

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Kennedy & Gillen to merge with upstate law firm

Kennedy & Gillen, a quarter-century-old Garden City law firm whose clients include King Kullen Grocery Co. Inc., will be be merging with a major upstate law firm on Feb. 1.

The three attorneys of Kennedy & Gillen will join the Garden City office of Bond, Schoeneck & King, which has headquarters in Syracuse and offices in five other upstate cities as well as Naples, Fla., Overland...

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Veeco shares rise on Cree earnings

Veeco mechanical engineer Mathew Levy holds a data

(Credit: Chris Ware, 2012)

Shares of Veeco Instruments Inc., a maker of equipment used in producing light-emitting diodes, climbed 6.8 percent to $37.53 Wednesday after a major LED manufacturer posted earnings that beat consensus estimates.

In a research note, Stifel, Nicolaus & Company analyst Patrick Ho said that the December quarter earnings report of Cree Inc. held “positive implications” for Plainview-based ...

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Work Market on Forbes' Most Promising Companies list

Work Market CEO Jeff Leventhal. The tech company

(Credit: Heather Walsh, 2013)

Huntington-based startup, Work Market Inc., has been named to the list of America's Most Promising Companies compiled by business magazine Forbes.

The tech company, which provides an online tool for businesses to manage professional freelancers and contract workers and for those freelancers to find work, was No. 21 in Forbes' third iteration of the list.

Forbes took applications from...

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Cuomo proposes $220M in grants and tax credits for expanding businesses

Gov. Andrew Cuomo presents his 2014-2915 budget for

(Credit: Albany Times Union)

Gov. Andrew M. Cuomo proposed $220 million in capital grants and tax credits for expanding businesses on Tuesday.

The funds, along with $500 million from the coffers of state agencies, will be distributed in another competition between 10 Regional Economic Development Councils across the state, he said in his proposed 2014-15 budget.

Since Cuomo established the councils in 2011, more...

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$150G science grant for Green Sulfcrete

Bill Biamonte gets encouragement at a boot

(Credit: Heather Walsh, 2013)

Green Sulfcrete, a Melville startup company, has won a $150,000 grant from the National Science Foundation to further develop its technology to make environmentally friendly concrete.

The product, pioneered at Brookhaven National Laboratory, is made of sulfur recycled from gas and oil refineries. The company, launched in 2012, says it’s more durable than conventional concrete, can be made...

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Oral arguments set for Uniondale Marriott foreclosure case

The Long Island Marriott Hotel at 101 James

(Credit: Newsday, 2013)

Oral arguments in the foreclosure case against Long Island's largest hotel have been set for Jan. 28, according to a New York State courts spokesman

Lenders on a $103 million loan taken out by the 618-room Long Island Marriott Hotel and Conference Center in Uniondale, owned by New York Islanders owner Charles Wang, filed for foreclosure in July after a missed February payment, according to...

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LI job fair for disabled

An Old Bethpage nonprofit group will host a

(Credit: Getty Images, 2013)

An Old Bethpage nonprofit group will host a free job fair for people with disabilities at Farmingdale State College on Jan. 31 from 9 a.m. to 3 p.m.

Family Residence and Essential Enterprises Inc. will hold its Talent Connection fair, aimed at aiding the job search of people with autism and other disabilities as well as veterans who suffer from post-traumatic stress disorder and traumatic...

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