BNL picks E.W. Howell for Light Source II project
Brookhaven National Laboratory named E.W. Howell in Plainview to be general contractor for the construction of laboratory-office buildings for the National Synchrotron Light Source II, an advanced light source that will help scientists study smaller details in their research. The $34-million contract for building 124,000 square feet of laboratory and office space is funded from the American Recovery and Reinvestment Act. The project means about 250 to 300 jobs on Long Island over the course of the construction, expected to be completed in 2013, said Dominic Paparo, vice president of business development at E.W. Howell. Howell is working on two other projects for Brookhaven: the expansion of a chilled water plant and construction of the 87,000-square-foot Interdisciplinary Science Building. - Patricia Kitchen
Nassau sells $127M in bonds below AAA yields
Nassau County has sold about $127 million in tax-exempt municipal bonds at yields below higher-rated debt. Yields on 10-year AAA tax-exempts fell 3 basis points to a record-low 2.75 percent Thursday, according to Municipal Market Advisors, an independent research firm based in Concord, Mass. Nassau's bonds were rated Aa3 by Moody's Investors Service and AA- by Fitch Ratings, the fourth-highest for both, and one level lower at A+ by Standard & Poor's. "The market recognizes the county is serious about being financially responsible and is rewarding that," said county comptroller George Maragos. Proceeds from the bonds will be used for early retirement incentives, which will reduce payroll costs and help lower operating expenses, Maragos said.
Consumer reports extend Wall Street's losing streak
Stocks extended their losing streak to four days Friday after a mixed batch of readings on consumers further muddled investors' sense of the economy. The Dow Jones industrial average fell 16.80 points, or 0.2 percent, to 10,303.15. The Standard & Poor's 500 index fell 4.36, or 0.4 percent, to 1,079.25. The Nasdaq composite index fell 16.79, or 0.8 percent, to 2,173.48.
HP shareholders file suit over CEO's resignation
Shareholders of Hewlett-Packard Co. have filed a "derivative lawsuit" against the technology company and its board over former chief executive Mark Hurd's abrupt resignation last week. A derivative lawsuit lets shareholders sue executives or board members over claims that their actions harmed the company as a whole. The suit seeks unspecified damages and changes to HP's corporate governance.
From staff and wire reports