Aceto names new CEO
Aceto Corp., a Port Washington-based pharmaceutical chemical supplier, announced Friday that its president and chief operating officer, Salvatore Guccione, will succeed chief executive Albert Eilender when he steps down in January. Guccione joined the company's board in May 2011 and was appointed COO in December. He will hold the title of CEO and president. Eilender has been CEO since 2010 and has served on Aceto's board since 2000. On Thursday Aceto reported that its fiscal fourth quarter profits grew to $4 million -- a 14 percent increase compared to the same period in 2011. -- Lisa Du
Larceny charge in tax case
The owner of Rooms Unlimited, a Medford furniture store, has been charged with failing to pay more than $1.4 million in sales taxes, the New York State Department of Taxation and Finance said Friday. Richard Kogel of St. James was charged with grand larceny after an investigation led by the tax department and Suffolk County district attorney's office, which said they found that he failed to pay the state taxes collected from sales at Rooms Unlimited between 2007 and 2011. Kogel pleaded not guilty and was released without bail, the district attorney's office said. If convicted, Kogel faces a minimum of one to three years in prison. A manager who answered the phone at Rooms Unlimited said Kogel would not be commenting. The business is still in operation. -- Lisa Du
Weak PC sales hurting Intel
Intel's sales are falling at a rate that blindsided the chip-maker's management, amplifying Wall Street's worries about the slumping personal computer market and the frail economy. The foreboding news came out Friday in revisions to Intel Corp.'s financial guidance for its current quarter. The world's largest maker of computer chips now expects to post third-quarter revenue of $13.2 billion, a decline of 7 percent from the same time last year, when Intel's revenue totaled $14.2 billion. The projection also is well below a management forecast in July. Investors punished Intel for the miscalculation, driving down the company's shares by 3.6 percent. Intel blamed its sliding sales on lackluster demand for new PCs and a "challenging" economy.