Nassau storm tax breaks; other business briefs

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LONG ISLAND


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Nassau storm tax aid at $500G

Nassau County has awarded $500,000 in sales tax breaks to 25 businesses damaged by superstorm Sandy, officials said. Benefits are received when a company purchases new equipment or building materials to reopen after the Oct. 29 storm. The sales-tax exemption is part of the Local Enterprise Assistance and Development Service, or LEADS, for small businesses. LEADS is run by the county's industrial development agency, along with a business recovery center. Nassau County Executive Edward Mangano said the center had received 400 requests for assistance as of Tuesday. For information, go to nassaubackin business.org or call 516-571-1745.-- James T. Madore

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GLBT monthly magazine debuts

A new publication focusing on Long Island's gay, lesbian, bisexual and transgender community hits newsstands on Thursday. Living Out, a free monthly newspaper from the Long Island GLBT Services Network, will be available at more than 240 locations on the Island, with an initial publication of 10,000 copies. It is also available online at livingoutli.org. Publisher David Kilmnick, chief executive of the LI GLBT Services Network, said Living Out was originally set to launch in November, but disruptions caused by superstorm Sandy pushed it back a month. Adam Levine, lead singer of the band Maroon 5 and a judge on TV's "The Voice," is on the cover. Kilmnick said Levine was chosen because the musician, who has a brother who is gay, has become a staunch supporter of gay rights.-- Lisa Du

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Deadline today in LCD TV suit

Thursday is the last day for individuals and businesses in 24 states, including New York, to file a claim to be part of a $1.1-billion settlement on a class-action lawsuit on price fixing and manipulation of LCD flat screens. Customers and businesses who purchased products that contained an LCD flat screen made by AU Optronics, Chimei, Chunghwa, Epson, HannStar, Hitachi, LG, Sharp, Samsung or Toshiba between January 1999 and December 2006 are eligible. No proof of purchase of the product is required to file a claim. Consumers can receive from $25 to $200 or more, depending on the number of products purchased and the prices. For information, go to lcdclass.com. A Long Islander, Chris Ferencsik of West Islip, was one of the class action representatives in the suit.-- Lisa Du


Rev. Butts resigns from council

The Long Island Regional Economic Development Council has lost one of its 23 original members. Calvin O. Butts III, president of SUNY Old Westbury and pastor of Harlem's famed Abyssinian Baptist Church, has resigned from the council because of his other commitments, according to council co-vice chairman Stuart Rabinowitz. Council members were appointed to two-year terms by Gov. Andrew M. Cuomo in July 2011. They receive no compensation.-- James T. Madore


NATION


Mining firm in $9B energy deal

Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to a huge copper mine in Indonesia. Freeport-McMoRan Copper & Gold Inc., based in Phoenix, said Wednesday it is paying $6.9 billion in cash and stock for Plains Exploration & Production Co., and $2.1 billion for McMoRan Exploration Co. The mining company also will assume $11 billion in debt in the deal. Plains Exploration, based in Houston, produces oil in California, Texas and the Gulf of Mexico, along with natural gas in Louisiana. McMoRan Exploration, based in New Orleans, is developing natural gas resources that lie deep below shallow water regions of the Gulf of Mexico. With the deal, Freeport-McMoRan will be able to diversify into a growing global market for natural gas without losing focus on mining operations, analysts said.-- AP

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