Coffee Talk

Coffee Talk

In 2006, I resolve...

Coffee Talk dialed up several Gulf Coast senior executives last week and asked their plans for the next 12 months. Here's what five of them told us what they want and how they're going to get it in 2006:

Corey J. Coughlin

President, chief executive, First State Bank, Sarasota

Coughlin helped add $1.2 million in profits at the Sarasota bank during the 12 months that ended Sept. 30. Since then, he's also added about 25 pounds to his frame. Therein lie the numbers that inform his New Year's resolutions.

"I want to lose all the weight that I've gained over this wonderful holiday season," says Coughlin, whose bank has offices in Pinellas and Sarasota counties. "When I put my trousers on, they're a bit tighter than they were."

Coughlin says he is going to get more use out of his gym membership.

When it comes to First State, Coughlin wants a repeat of 2005, although it will be a challenge for any community banker. "We had a spectacular year," he says. "Now is the time for me to start to worry about where that $150 million or $160 million of new business is going to come from."

Long- and short-term interest rates are almost indistinguishable. That will make Coughlin's job more difficult. Coughlin says First State may offer depositors better rates for slightly longer terms. "If you price it right, you'll be all right," he says.

A new Federal Reserve chairman worries Coughlin. "I fear what I know," he says. "I'm scared to death of what I don't know."

Dennis Gilkey

President, CEO, Bonita Bay Group, Bonita Springs

Gilkey expects home sales in the Bonita Springs company's Lee and Collier communities to level out in 2006.

The developer recorded 1,300 sales in its communities in 2005, and Gilkey says he expects a similar number in 2006. He says rising interest rates will take some of the investors out of the residential real estate market, which he reckons is about 15% to 25% of buyers.

On the business side, Gilkey's resolution is for his company to be a leader in providing workforce housing in Southwest Florida. Surging home prices have priced out many workers, including those who work for Bonita Bay Group.

Among the possible solutions is partnering with nonprofit organizations or local government to provide workforce housing. The problem is most acute in Collier County where the median sale price of a home is nearly $500,000.

Personally, Gilkey says he'd like his pace of work to be less frenetic. "When times are good, you run pretty fast," he says. "You've got to recharge your batteries and make sure you're spending time with your family."

Guy King

President, M.E. Wilson Co., Tampa

The Tampa insurance firm founded in 1920 by King's grandfather, Gene Wilson, expects to add a few more employees to the payroll in 2006 and expand office space by 3,500 feet.

Personally, King is working to get into shape by dieting and exercising. He has already lost five pounds and plans to lose another 15 to reach his goal weight of 200 pounds. He's taking his professional advice to heart: He's minimizing his own health risks by getting into shape.

Professionally, his 37-employee firm's goal is to continue to work to help clients lower their risks so their coverage costs less.

Walter Crawford

President, CEO, Heatherwood Construction Co., Bonita Springs

Crawford says the biggest challenge ahead is to quantify the cost of building materials when bidding for a job. "What's made our job so difficult is the prices have been so volatile," Crawford says. "The person writing the check wants to know how much it's going to cost."

Still, Crawford says he expects his Bonita Springs company's revenues to double to $20 million in 2006, and he's added two people to help him reach that goal. In addition, Crawford has resolved to improve communication with clients by calling on them more often and informing them of progress on their buildings.

Bob Macomber

Chief Executive Officer, Atwell-Hicks, Tampa

Macomber says the Ann Arbor, Mich.-based land development consultant expects to add another 48 employees to the Tampa office in 2006, up from 20 this year.

"We expect revenue of $5.5 million to $6 million in this area in the New Year," says Macomber, who opened the first Florida office for Atwell-Hicks last August.

The 430-employee firm, which also provides civil engineering, has on average grown about 25% annually over the past 25 years, compared to an average of 5% to 6% for the industry as a whole, says Macomber, who works from the Tampa office.

Macomber is thinking big for 2006. Asked his resolution, he says: "To overshadow our competitors and establish Atwell-Hicks as being the preeminent employer of accomplished civil engineering talent in the Tampa market."

The firm chose Tampa for its expansion last year because the local economy is diverse, and Florida is expected to continue its fast growth, he says.