Wells Fargo West Florida leader believes in telling the bank’s story

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A mi d a backlash by two religious organizations against Wells Fargo & Co.’s first national ad featuring a gay couple, the bank’s top executive in Tampa Bay is an outspoken advocate for the bank’s approach. “Being diverse and inclusive, it’s just the right thing to do,” David Guzman, who is gay, said in a wide-ranging interview with Tampa Bay Business Journa l. “We need to tell our story.” The bank’s values and vision resonate with customers, said Guzman, West Florida Region president… …read more

Ellen Macfarlane works to bring women into law leadership

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Ellen M. Macfarlane

• Title, company: Shareholder, chairman, board of directors, Macfarlane Ferguson & McMullen PA

• Grew up: In the steel town of Alliance, Ohio

• Education: Ohio State University, undergrad and law school

• Family followed: Her parents and brother followed her to Tampa. “It’s a great place to live and spend your career and raise your children.”

• Favorite law movie:“Philadelphia” — specifically Denzel Washington’s role is the “epitome of what a lawyer… …read more

5 things to start the day: Local architect talks boomer lifestyle, and Allegiant’s woes at PIE

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The U.S. Treasury’s newly redesigned $10 bill will feature a woman. Treasury Secretary Jacob J. Lew will choose a notable woman — with a focus on celebrating a champion of democracy, the Treasury Department said. So, it’s asking for help in the form of ideas from the American people. The only criterion: the person must be deceased. So get your thinking caps on, Tampa Bay. Visit www.thenew10.treasury.gov to learn more and use #TheNew10 to share ideas on social media.

For the second time in a… …read more

4 takeaways from Yellen after Fed decides not to raise rates

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Here are four takeaways from Federal Reserve Chair Janet Yellen’s news conference following the Fed’s decision to keep its federal funds rate at or near zero:

Stop focusing so much on when the Fed will start raising rates

Too much attention is being paid to when the Fed will begin raising its federal funds rate and not enough attention to the fact that the Fed plans to raise this rate only gradually once this tightening begins, Yellen said.

The federal funds rate is what banks charge each… …read more

Fed wants to see more jobs before it raises interest rates (Video)

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As expected, the Federal Reserve decided against raising its federal funds rate this month from the near-zero levels it’s been since the financial crisis.

In its statement, the Fed said it won’t begin raising interest rates until “it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.”

The Fed, however, sounded fairly confident in the economy’s progress since a dead-in-the-water first… …read more

3 career lessons this father learned from his children

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I became a father in September of 2002, and that moment of instantly loving something more than can be measured was unlike any emotion I can describe. My life had changed. I now had responsibility outside of my job and marriage — I now had the responsibility of raising a child.

But what I didn’t expect was that my daughter — and later my son, who was born in October 2006 — would help raise me and make me a better person and professional.

As Father’s Day approaches, I’ve been thinking… …read more

Building permits for housing soar to pre-financial crisis levels

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Building permits for residential construction jumped nearly 12 percent in May to an annual rate of 1.28 million, the highest level since 2007.

That’s a sign that home builders are acting on their improved confidence in the housing market.

Building permits for single-family houses were issued at a seasonally adjusted annual rate of 683,000; multifamily permits — buildings with five or more units — totaled 557,000, according to the Commerce Department.

Housing starts fell in May to a annual… …read more

It’s been 10 years since home builders have been this bullish about sales

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Home builders’ confidence in the housing market jumped five points in June, as their sales outlook improved to its highest level since 2005.

That’s according to the National Association of Home Builders’ monthly Housing Market Index, which jumped five points in June to 59. The index is based on what builders say about current sales, sales expectations for the next six months, and how many potential buyers they’re seeing. All of those components gained, but both sales indices were especially… …read more

What the Top 25 List of public companies tells us about our economy

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Sales are growing at Tampa Bay’s largest public companies, but many of those companies struggled last year to turn that top-line revenue growth into profit.

The 25 companies on the 2015 List of largest public companies posted a combined $86.8 billion in revenue in 2014, up 4 percent from the $83.5 billion in revenue from the 25 companies on the 2014 List. Combined net income for the companies on the 2015 list was $2.34 billion, down 16.4 percent from combined net income of $2.8 billion for the… …read more

Atlanta group buys Westchase apartments for $64.5M, plans renovations

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Pollack Shores Real Estate Group has big plans for Lexington Park at Westchase.

The Atlanta-based investment group paid $64.5 million or $161,250 per unit for the 400-unit Lexington Park in a deal that closed June 4, according to a Hillsborough County deed filed Wednesday.

The seller, Miami Beach-based Crescent Heights, paid $42.5 million or $106,250 per unit in 2010. Lexington Park was built in 2010.

Pollack Shores is planning to invest “significant capital” in the property, managing director… …read more