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Biz Buzz


Free monthly for GLBT readers

Living Out, a new publication from the Long Island GLBT Services Network focusing on Long Island's GLBT community, will be coming to newsstands next month. It will be the first publication with a broad, comprehensive focus on local GLBT life on the Island, said David Kilmnick, chief executive of the network, who will serve as publisher. The free, full-color monthly will have an initial circulation of 10,000 and be available at more than 200 locations in Nassau and Suffolk, such as supermarkets and gyms. Kilmnick said his goal is to have Living Out hit 20,000 in circulation within a year. When Hamptons season kicks in next year, the publication plans on distributing in Penn Station to attract more visitors to Long Island. -- Lisa Du


Alcoa tops earnings forecasts

Aluminum manufacturer Alcoa Inc. says it lost $143 million in the third quarter due to charges, but otherwise topped Wall Street's expectations. Alcoa said yesterday that the loss amounted to 13 cents per share. That compares with net income of $172 million, or 15 cents a share, a year ago. But excluding $175 million in charges, Alcoa earned $32 million, or 3 cents per share. Analysts forecast break-even results on a per share basis. Revenue fell to $5.83 billion from $6.42 billion but still topped analyst forecasts. Alcoa has been challenged by the global manufacturing slowdown, which hurt aluminum demand. Alcoa is the first company in the Dow Jones industrial average to report earnings. Investors often watch its results for signs of how earnings may unfold for other companies.

Neiman's unveils luxe catalog

Luxury retailer Neiman Marcus rolled out its annual holiday catalog Tuesday, and the priciest gift this year is a pair of his and hers watches for just more than $1 million from Van Cleef & Arpels. The timepieces depict a tale of lost love on the faces and come with a trip to romantic Paris and Geneva. Dallas-based Neiman Marcus is known for featuring outrageous "fantasy gifts" in its Christmas Book. The 86th edition also includes a red special edition McLaren 12C Spider for $354,000, a hen house inspired by France's Versailles palace for $100,000 and a walk-on role in Broadway's "Annie: The Musical" for $30,000. Those with smaller budgets can take heart, though -- almost 40 percent of the items cost less than $250. The cheapest is a $10 monogrammed mug. Each fantasy gift is paired with a charity that will benefit from its sale.

Fewer business trips expected

U.S. companies are continuing to cut back on employee travel plans amid uncertainty surrounding the health of the economy. Americans are expected to take 438.1 million business trips this year, down 2 percent from last year, the Global Business Travel Association said yesterday. Overall business travel spending is expected to be up 2.6 percent, but that's only because trips are more expensive. "Corporations are in a wait-and-see mode and holding back on investment decisions that would help boost the economy," said Michael W. McCormick, the trade group's executive director.

Pessimism among owners

Small-business owners are growing more pessimistic. A survey released yesterday by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak. The NFIB's index of owner optimism fell 0.1 point to 92.8. The survey did have some bright spots. The number of owners who expect business conditions to improve in six months gained 4 points. But the number of owners who plan to create jobs fell 3 points, while the number who plan to reduce their payrolls rose 2 points. The NFIB questioned nearly 700 of its members for the survey.

-- AP

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