Newsday.com - Business

LI job market losses biggest since 1991

Thu, 16 Jul 2009 22:33:00 -0400

Then it was the defense industry downsizing; now all sectors are shedding jobs because of the severe economic downturn.

Madoff's former accountant pleads not guilty to lying

Fri, 17 Jul 2009 21:23:00 -0400

Despite expectations he would admit he gave false information to regulators about Bernard Madoff's company, the former accountant for the notorious Ponzi schemer entered a not-guilty plea Friday to charges contained in a criminal information.

CIT Group bankruptcy talks draw concern

Fri, 17 Jul 2009 21:03:00 -0400

Shoppers for back-to-school supplies and holiday gifts might find a smaller selection in stores and fewer discounts in coming weeks and months if lender CIT Group Inc. is forced to file for bankruptcy, some retail experts said Friday.

Grumman space engineers recall hard work

Fri, 17 Jul 2009 22:33:00 -0400

To many of them, they say, it is still 1968, the year before men first landed on the moon, the year they worked 50, 60, 70 hours a week, sometimes seven straight days, to build the landing craft that would take astronauts to the lunar surface on July 20, 1969.

Claims: LI grape crop hurt by spring weather

Thu, 16 Jul 2009 22:43:00 -0400

Long Island's grape growers appear to have sustained the most lasting damage from two months of record cold and rain during a critical stage in vine development, according to preliminary claims filed with the U.S. Department of Agriculture.

B of A posts 2Q profit, exceeds expectations

Fri, 17 Jul 2009 09:26:00 -0400

Bank of America joined the nation's other big banks in reporting better than expected earnings, posting a $2.42 billion second-quarter profit even as losses from failed loans continued to rise.

LI business bankruptcy filings surpass national rate

Thu, 16 Jul 2009 21:43:00 -0400

New statistics from the federal courts system show what experts call a disturbing trend that mirrors national data - a 73 percent rise in business bankruptcy filings on Long Island in the 12 months ended March 31, over the same period a year earlier.

Economy spawns online unemployment support group

Thu, 16 Jul 2009 21:33:00 -0400

While eating barbecue at a Harlem restaurant, Garrett Dale and Jose Gonzalez listened to a friend as he shared advice for coping with unemployment. Then it all clicked: A major online support group for the jobless did not exist, and they should start one.

Audi's Q7 gets new look for fall

Thu, 16 Jul 2009 20:03:00 -0400

Hard economic times have put more than just a dent in sales of Audi's first sport utility vehicle; through June, deliveries of the SUV were off by 46 percent from a year earlier.

Judge dismisses SEC case against Dallas Mavs' owner

Fri, 17 Jul 2009 10:41:00 -0400

A federal judge has dismissed a civil insider trading lawsuit against Dallas Mavericks owner Mark Cuban.