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Matt Glynn

Matt Glynn has been a business reporter with The Buffalo News since 2000. He is a native of Youngstown, N.Y., and lives in Buffalo.


Workers negotiating for a first contract at Wendt Corp. in Cheektowaga plan to rally outside the plant on Friday, as the company prepares to make temporary layoffs. Hourly workers at the plant, which makes equipment for the scrap recycling industry, approved representation by the Ironworkers Shopmen's union last June and have been bargaining a first contract since then.…

Cornerstone Community Federal Credit Union has selected its next CEO: Eric M. Hepkins. Hepkins will join the Lockport-based credit union from HSBC Bank USA. He will succeed Ann M. Hood, who will retire Feb. 28. Hood has been with the credit union for 34 years, serving as CEO since 2000. Hepkins, a local native, has 17 years of experience in financial services, in…

ESL Federal Credit Union led in the number of 7(a) loans in the Buffalo Rochester region in January, with 17 of them, according to the Small Business Administration. M&T Bank was second, with nine. Through the first four months of the federal fiscal year, M&T led the program, with 58 loans valued at $11.2 million. The federally backed loans help businesses that …

Business

ACV Auctions, a Buffalo online auto auction business, has secured $31 million in funding that the company says will help it expand to the West Coast by year's end. ACV, which won the $1 million top prize in the 2015 edition of 43North, secured the funding from Bessemer Venture Partners, Tribeca Ventures, Softbank NY and Armory Square Ventures. Since ACV was launched in …

Business

About 90 people at Buffalo Niagara auto dealerships have been working in the car sales business for 40 or more years. With the Buffalo Auto Show opening later this week, the Niagara Frontier Automobile Dealers Association will salute those industry veterans. The association, which organizes the auto show, will hold an invitation-only reception Tuesday night for men a…

Business

More than 2,300 hourly workers at General Motors' two area plants are eligible for profit-sharing checks of up to $11,750. GM announced the size of the profit sharing checks for United Auto Workers-represented workers on Tuesday, based on the automaker's full-year North American profits for 2017. GM said 1,325 workers at its Town of Tonawanda engine plant and 1,012 w…

Business

Bank on Buffalo is making plans for its first Niagara County location. The bank's Pennsylvania-based parent, CNB Bank, has requested permission from regulators to open a location that would be newly built at 676 72nd St. in the Town of Niagara. The site is just off Niagara Falls Boulevard, across from a shopping plaza containing a Target store and Tops supermarket. “…

Business

The parent company of Bank on Buffalo reported $24 million in profits last year, up 16 percent from $20.5 million the year before. Clearfield, Pa.-based CNB Financial Corp. said its Bank on Buffalo division added 28 employees last year. Bank on Buffalo now operates three area branches, and has indicated interest in opening a fourth location. In the fourth quarter, CN…

Business

Abdul S. Labi launched Precision Electro Minerals in Niagara Falls in 1987, in a city where he had once worked as a Carborundum manager. Now Labi is preparing to close the Portage Road business in April, citing higher energy and worker's compensation costs as key reasons. The company, also known as PEMCO, employs 15 full-time workers, plus some part time employees. P…

Business

The Buffalo Auto Show is rolling into town, with dealers eager to convert visitors' curiosity into sales. The annual showcase of new cars and trucks runs Feb. 8 through 11 at the Buffalo Niagara Convention Center. Nearly 300 vehicles will be displayed, but the true impact may be felt away from the event. Auto manufacturers allocate post-show incentives at showrooms to s…

Business

Citigroup is a major local employer, with about 1,900 workers at its complex in Getzville. But without a branch network in the region, Citi is not as visible as some other banks serving the region. Anthony Vazquez would like to change that. Vazquez, the site head at Citi's facility in CrossPoint Business Park, wants to raise awareness of the company's presence throug…

Business

The Buffalo area has long had a reputation as a market where trucks and SUVs are popular. That's particularly true of Chevy- and Ford-brand trucks, in light of those two automakers' decades-old manufacturing presence. These are the 10 top-selling vehicles in the Buffalo Niagara market, according to Edmunds.com: Chevy Silverado (6.1 percent of all sales). Chevy E…

Local News

Three area car dealerships changed hands in recent weeks, and a fourth dealership closed its doors. Towne Automotive Group bought Schmitt's Audi Volkswagen Lancaster. Northtown Automotive Cos. bought Zeigler Honda Amherst. And Oregon-based Lithia Motors bought Ray Laks Honda in Orchard Park and Ray Laks Acura in Amherst. The buyers are eager to capitalize on their ne…

Business

Evans Bank's parent company set a record for profits last year: $10.5 million. That was despite a one-time $2.1 million charge the Hamburg-based Evans Bancorp absorbed in the fourth quarter related to the federal tax overhaul. As a result, Evans had fourth-quarter profits of only $1 million, compared to $2.3 million a year ago. Evans president and CEO David J. Nasca …

Bankruptcy filings in the Buffalo/Rochester region declined 1.7 percent in January from a year ago, to 288 cases, according to the U.S. Bankruptcy Court. The drop came after the Buffalo/Rochester region's full-year total of bankruptcy filings increased 3.3 percent in 2017 from the year before. That was the first annual increase since 2009.