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Business

Highlights from the blog this week

The Estée Lauder store in Manhasset.

The Estée Lauder store in Manhasset. Credit: Newsday, 2007 / Ana P. Gutierrez

Here are some of the top stories this week from Inside Long Island Business.

-- Estee Lauder Inc., the cosmetics company, announced it was closing a packing plant in Islandia and laying off 103 full-time, 219 active part-time, and 213 inactive on-call employees. That's a scene from their store, above.

-- A plan by Hauppauge-based Standard Microsystems Inc. to buy a rival California company for $284 million is on hold now that another suitor has offered more money.

-- The widow of Matthew Crosson, a  former Long Island Association president, has taken a job as vice president for external relations at Stony Brook University.

-- One of the top executives of a Uniondale investment company that fleeced members of a Queens church out of $10 million has been banned from the industry by federal securities regulators.

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