Jonathan D. Epstein - The Buffalo News

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Jonathan D. Epstein

Jonathan Epstein is a business reporter at The Buffalo News, where he covers real estate and development. He formerly covered banking and insurance, and has worked at The Buffalo News since January 2004. He is a graduate of the University of Rochester and Columbia University Graduate School of Journalism, and is an upstate New York native.


First Niagara Financial Group said late Thursday that it had acquired an equipment leasing broker in the Albany area to expand that national business and add to its Capital District presence.The Lockport-based thrift did not say how much it paid, but said the purchase of Rensselaer-based Adirondack Leasing Associates Ltd. closed on Sept. 7. The 21-year-old firm, which serv…

Computer Task Group is teaming up with an Indian technology firm to offer mid-sized and smaller financial services companies the ability to get the same benefits from offshoring software development as the nation's biggest companies.The partnership between Buffalo-based CTG and Polaris Software Lab Ltd. of Chennai, India, would allow a U.S. or European bank or insurer to h…

HSBC Bank USA, reversing an earlier decision, said it is reissuing an undisclosed number of debit cards to customers following the theft of customer information from a major national retailer earlier this year.The Delaware-based bank, the largest in Buffalo, had initially said it would not reissue debit cards en masse to customers after BJ's Wholesale Club disclosed in Mar…

Market-research firm J.D. Power & Associates has named Independent Health as one of its first "Distinguished Health Plans" in the nation for the way it serves its members.Independent Health was honored for exceeding national benchmark scores for overall member satisfaction, particularly for choice of primary care doctors and specialists, encouraging consumers to seek preve…

Geico Corp. expects to move up the ranks to the nation's No. 4 auto insurer by the end of the year, and the company's new Amherst service center already is proving to be a big part of the company's success, its chief executive said during a visit to Buffalo last week.The company wants to grow its national customer base by 12 percent a year, an aggressive goal that would me…

When Amherst's insurance consultant recommended buying terrorism insurance, town officials didn't hesitate.It's the largest and most populous town in Western New York. It's home to a regional wastewater treatment plant and the Pepsi Center, a complex with four ice rinks. And the policy from One Beacon Insurance Group cost the town only $5,000 on top of the $200,000 annual …

A North American subsidiary of a British engineering conglomerate is planning to triple the size of its Buffalo-area operation and possibly move it from the City of Tonawanda to a new Amherst business park, according to sources familiar with the plans.Invensys APV expects to announce Tuesday that it will move from its longtime location in the Tonawanda Centre of Industry o…

Delaware North Companies is negotiating with Bank of America Corp. to change the name on the FleetCenter in Boston, in a deal that could be worth up to $6 million a year to the facility's Buffalo-based owner.No final decision has been reached yet on what the name would be and no agreement is imminent. But the talks are much further along than they were a month ago, accordi…

Citizens Financial Group on Tuesday completed its takeover of Charter One Financial, creating the nation's 12th largest bank by assets, with branches stretching from Boston through New York to Illinois.The Providence, R.I.-based bank paid $10.5 billion in cash to buy Cleveland-based Charter One, expanding into six new states. The new bank has $131 billion in assets and ran…

A North Tonawanda maker of shock absorbers said Friday that its earnings continued to rebound from a year ago, as it reported a profit for its fiscal fourth quarter compared to a loss a year ago.Taylor Devices reported earnings of $204,092, or 7 cents per share, compared to a loss in 2003 of $371,962, or 13 cents. Sales rose almost 20 percent to $3.3 million.The 49-year-ol…

Citizens Financial Group, which is buying Charter One Financial, has selected Albany as its New York state headquarters when it completes its $10.5 billion cash purchase.The Rhode Island-based bank also named Richard M. Kulbieda as its chairman, president and chief executive officer for New York state. Kulbieda, a 25-year banking veteran, was most recently president of Key…

The Buffalo Niagara Enterprise plans to stick around for at least three more years, as it prepares to raise another $12 million from local government agencies and companies to further its economic development efforts.The new fund-raising effort, which will be formally launched in September, represents nearly a 50 percent increase over the group's original $25 million seed …

Joseph Wolfson, a Buffalo entrepreneur with four successful company starts under his belt, is back in business. He's starting yet another system to handle electronic transactions.This time the 56-year-old founder of the former Metroteller and Cartel ATM networks is taking aim at the health care industry, not financial services. That's where he sees a new opportunity to mod…

Nearly all of the large employers in upstate New York that offer some form of health care for retirees are likely to maintain it next year, but 12 percent of smaller employers expect to drop it, according to a new study released today by a local insurer.About 75 percent of large upstate firms offered benefits for their retired workers last year, with less than 2 percent sa…

Citizens Financial Group and Charter One Financial said Thursday that they are laying off about 800 Charter One employees across the company, completely sparing Buffalo but hammering Rochester.The job cuts, which amount to about 10 percent of Charter One's 8,000 employees in nine states, come just days after the Federal Reserve approved the $10.5 billion cash purchase by C…