Long Island Business News

Workers Join Unions As Benefits Shrink

When management becomes unreasonable, when benefits shrink and get more expensive at the same time, and when the average salary increase is way less than the inflation rate, here's something you can do: Form a union. And on Long Island, you wouldn't be alone. Just don't let management know what you're up to - it could get you in trouble.

Floundering Economy Prompts Baby Boomers to Sell Their Businesses

The floundering economy has some Long Island Baby Boomers unloading their businesses. In some cases, it's a move of desperation. The cost to run a business is rising, and young people who would have taken over the family shop are leaving Long Island in search of a lower cost of living.

Prisoners' Diets Change As Food Costs Spike

The jaw-dropping spike in the price of food has affected everyone, even those who don't pay for it. The diet of the inmates at the Suffolk County Correctional Facility in Riverhead has changed because of increased food costs, according to Michael Sharkey, chief of staff at the sheriff's office, which runs the sprawling county jail. And there are more changes to come, he added.

Melville Broker Offers Tenants Green Help

It's not be easy being green, but a Long Island commercial brokerage firm plans to give at least $1 million to help tenants do just that to their spaces. The Long Island office of CresaPartners in Melville is offering up to 50 percent of its commission to tenants for improvements to newly leased offices that result in a U.S. Green Building Council Leadership in Environmental Engineering and Design rating for commercial interiors.

Air Lift: Business Aviation Is On the Rise

It was 2 p.m. on Friday and Peter Montemurro was scrambling, taking urgent questions from his staff in the office and giving them instructions while simultaneously talking on the phone. The crisis? A man wanted to go from Southampton to East Hampton. In a turbo jet. Immediately, if not sooner.

Long Island Banks Succumb to the Crunch

The economic troubles that have pummeled the nation's big banks are now targeting shares of Long Island's financial institutions. For some banks, even holding mortgages is enough to scare investors. Case in point: Astoria Financial.

Suffolk County Rejects Mixed-Use Project

A plan to build two hotels, condominiums, retail stores and offices on 12 acres in Islandia has been rejected by the Suffolk County Planning Commission. The mixed-use development proposal by Motor Parkway Associates at the southwest corner of Motor Parkway and Veterans Highway had the support of Village of Islandia officials, who backed the project enough to approve a special overlay district in order to make the project conform with zoning regulations.

Two Minutes with Martin Silver

His Georgi Vodka beat Chopin and Grey Goose vodka in an LIBN taste test. The winner: Long Island's LIV. The colorful chief executive talks to LIBN about how important finishing third is to him, and why he wanted Eliot Spitzer's call girl to be his spokeswoman. Silver also sounds off on his beloved New York Mets, who he publicly chastised when the team fired Willie Randolph last month. Finishing third in a taste test means the world to you?

Design for a Greener Planet

NAME: Lauren Spielholz TITLE: Project Manager And Senior Interior Designer

On the Move

Accounting Marcum & Kliegman has merged with RosenfarbWinters, the largest forsenic accounting firm in the New York metropolitan area. The new entity is now changing its name to M&K Rosenfarb, and will have offices in New Jersey in addition to its offices in New York City and Long Island.

Long Island Nonprofit Briefs: July 18, 2008

Brothers run marathon to increase hunger awareness Two brothers spent a week running a marathon to raise awareness of hunger and poverty on Long Island.

Incentives Attract Tenants to Office Open Houses

During a booming economy, brokers flock to open houses for large offices or industrial spaces. But in this sluggish real estate market, when it's tougher to lease and sell property, landlords are offering incentives to get brokers to show up, making sure an open house doesn't turn into an empty house. Long Island landlords are beginning to offer gifts to compensate brokers for the cost of gas and the time it takes to view the property.

High-Rise Projects Win Approvals On Long Island

Things are looking up for Long Island's builders. In the nation's first suburb, after decades in which high rises were anathema, projects that pierce the sky are seeking and sometimes winning approvals.

Ones to Watch: Long Island Real Estate Firms

Joseph F. Buzzell Partner

State Report Shows Long Island's Unemployment Rate Jumps 1 Percent

Long Island's unemployment rate has jumped more than 1 percent for the year, according to a state report, proving the national economic downturn is taking its toll on the region. The local unemployment rate was 4.7 percent in June, up from 3.6 percent in June 2007, and 4.6 percent in May, according to the New York State Department of Labor.

Future of Port Jefferson Power Plant has Locals Worried

Port Jefferson village and school officials are worried about the future of National Grid's Port Jefferson power plant, which is being studied by the Long Island Power Authority. If the LIPA decides to repower the plant, upgrade it and make it more efficient, that could mean even more tax dollars coming to the region. But, if it decides the plant is not worth saving and should be shut down, the impact could be nuclear.

Astoria Financial Profit Slides, but Beats Analysts Estimates

Lake Success-based Astoria Financial said Wednesday its second- quarter income dropped 2 percent year over year on an increased provision for loan losses. The thrift earned $33.5 million, or 37 cents per share, compared with $34.1 million, or 37 cents per share, in the year-ago quarter.

Marcum & Kliegman Merges with New York-Based Rosenfarbwinters

New York Associations Announce Staffing Changes: July 18, 2008

The New York Society of Certified Public Accountants has installed Anthony Cassella as director-at-large of the organization. Cassella is president and chief operating officer of Croscill Inc., a home decor company. He has been a member of the society since 1979. Michael Cardello III was elected to serve as chair of the metro New York and Connecticut chapter of the National Vehicle Leasing Association. Cardello is a partner at Moritt Hock Hamroff & Horwitz, where he practices in the areas of ...

John Aldebot Joins Long Island Financial Group