InnRoad, a Southampton-based startup that makes software for hotels, has received $5.8 million in funding from two venture capital firms.
The company will use the financing from Blue Heron Capital, of Richmond, Va., and Rose Park Advisors, of Boston, to continue developing and marketing its programs.
The software is used by more than 350 independent hotels in the United States and Europe... » more
The chairman of the Export-Import Bank of the United States will lead a forum on small-business exporting on Monday, aiming to provide local entrepreneurs with information about boosting export sales.
Fred P. Hochberg, chairman and president of the Ex-Im Bank, and Rep. Steve Israel (D-Dix Hills) are hosting the event at 9 a.m. at the Long Island Association in Melville. Industry and government... » more
CPI Aerostructures, a Long Island aircraft parts manufacturer, said Thursday that it has received a $3.4 million order from industry giant Northrop Grumman to produce wing panels for a Naval surveillance plane.
The outer wing panel kits will be used to build the E-2D Advanced Hawkeye, a twin-turboprop aircraft topped by a distinctive radar dish to detect incoming cruise missiles and help commanders... » more
Suffolk Bancorp, the Riverhead parent of the Suffolk County National Bank, said its shareholders had elected veteran banker and business consultant Steven M. Cohen to its board of directors and that director Joseph A. Gaviola had been elected chairman of the board.
Cohen, 64, is the principal of the Baywood Consulting Group of Stuart, Fla. He served as the Suffolk Bancorp’s acting chief information... » more
Homeowners in foreclosure and those struggling to make mortgage payments can get information on loan modification programs on Friday, June 1, from 11 a.m. to 6 p.m. in Lindenhurst, the state Department of Financial Services announced Tuesday.
The department’s mortgage foreclosure prevention specialists will staff a mobile command center at the Lindenhurst Memorial Library, at 1 Lee Ave.
The... » more
Long Island foreclosure rates rose in March compared to the same period last year, according to a report Tuesday by data provider CoreLogic.
In Nassau and Suffolk counties, nearly 6.7 percent of homes with outstanding mortgage loans were in foreclosure, an increase of almost 1 percentage point compared to the same period in 2011.
The 90-day mortgage delinquency rate also increased during... » more
Trading was halted briefly Monday in shares of Kingstone Companies, a Hewlett-based insurance provider, after its price surged 27 percent to $5.97.
Chief executive Barry B. Goldstein said in an interview he could not explain the run-up, which led to the automatic shutdown by the Nasdaq Market at 11:53 a.m. Trading resumed after about 10 minutes.
“We’ve had great earnings,” he said. “It... » more
Henry Schein Inc., Long Island's largest publicly traded company, has completed its $40 million acquisition of a Dutch veterinary supply distributor. The move deepens the Melville-based distributor's reach in Europe, giving it access to the animal-care market for pharmaceuticals, pet foods, small equipment and other products in The Netherlands and in Belgium. It also advances the company's goal... » more
Each week, the business section asks readers to take a poll on a business or financial question and leave comments.
Newsday publishes the results of the poll and some of the reader comments on Sunday. Join the conversation -- take the poll, leave a comment.
This week's question: Many male executives have jettisoned suits, jackets and ties for a more casual look. What's your opinion?
Photo:... » more
The Long Island Real Estate and Business Renaissance will take place on Friday and Saturday, June 1 and 2, at the Hilton Long Island, 598 Broadhollow Rd. in Melville.
The event will include seminars and continuing education programs on such topics as selling your home, managing commercial property, going “green,” housing for seniors and people with disabilities, franchises, real estate development... » more