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U.S. Economic Growth Slows to 1.5%

The U.S. economy slowed to a 1.5% growth pace from April through June – the government had revised first-quarter growth to 1.6% — as increases in consumer and business spending were partially offset by a drop in government outlays, the Commerce Department said Thursday.

The Washington Post reported that economists attributed the growth to larger-than-usual income tax refunds that helped Americans keep spending in the second quarter, while soccer’s World Cup tournament gave them — for which the U.S. was a host and drew scores of visitors from abroad — a good reason to do so, economists said.

Growth overall came in below economists’ expectations, which were at roughly 2%, according to The Post report.

“It’s an economy that’s doing OK,” Brian Bethune, an economics professor at Boston College, told The Post. ““It’s not overheating. It’s not underheating,”

A separate government report provided good news on the inflation front, though economists say the respite may prove short-lived. Prices rose in June at an annual rate of 3.7%, an improvement from the previous month. Excluding volatile food and energy costs, inflation rose by 3.3%, according to the Federal Reserve’s preferred gauge, The Post reported.

Gas prices fell as a result of a ceasefire between the United States and Iran; prices averaged $4.30 on June 1, a nearly 50-cent drop per gallon. But the resumption of fighting caused prices to bounce off those recent lows, reaching $4.10 per gallon on July 27, according to the U.S. Energy Information Administration.

Persistent inflation, meanwhile, led to a split Wednesday among members of the Federal Reserve’s policymaking board. By a vote of 9-3, the Fed’s open market committee opted to hold short-term interest rates steady between 3.5% and 3.75%.

Inflation has now been higher than the Fed’s 2% price-stability target for more than five years. U.S. stocks slid Wednesday, while Treasury yields soared, a sign that investors are growing anxious about the Fed’s willingness to combat inflation, The Post reported.

Labor Costs, Wages Show Second-Quarter Rise

Job growth picked up between March and May, bringing a resultant hike in labor costs.

According to statistics released by the U.S. Department of Labor, labor costs rose more than expected in the second quarter as private-sector wage growth picked up.

According to a report from Reuters, the Employment Cost Index, the broadest measure of labor costs, climbed 0.9% last quarter after advancing by the same margin in the January-March quarter, the Labor Department’s Bureau of Labor Statistics said. Economists polled by Reuters had forecast the ECI would rise 0.8%.

Reuters reported labor costs increased 3.4% in the 12 months through June after a similar gain in the year through March.

Job growth accelerated between March and May, though the momentum dropped in June. Economists describe the labor market as being in stuck in a “low hire, low fire” state. Wages and salaries, which account for the bulk of labor costs, increased 0.9% in the second quarter. In the 12 months through June, wages rose 3.2%. Private sector wages and salaries increased 0.9% last quarter after rising 0.7% in the January-March quarter. In a 9-3 vote on Wednesday, the Federal Reserve left its benchmark overnight interest rate in a 3.50%-3.75% range. Three members of the U.S. central bank’s policy-setting committee dissented. They “preferred” a quarter-percentage-point hike.

Seeking efficiency, Visa Cutting 2,600 Jobs

Visa CEO Ryan McInerny is reportedly looking for ways to increase efficiency, and announced the elimination of some 2,600 jobs to find them.

According to a report from Bloomberg, the cuts represent roughly 7% of the workforce and will primarily affect the technology and product teams, McInerney said in a staff memo seen by Bloomberg.

“I have deep conviction that we are doing what is right for Visa, our clients and our partners as we continue to focus on driving efficiency across the company in order to reinvest in our highest potential opportunities,” he wrote, according to Bloomberg.

Visa had about 34,100 employees at the end of its last fiscal year, more than triple from a decade earlier, according to the report. Many of its fintech competitors have announced even deeper job cuts in recent months, including PayPal Holdings Inc. and Block Inc.

Visa shares rose 2.1% to $370 at 8:47 a.m. in pre-market trading Tuesday. The stock had gained 3.4% this year through Monday, trailing the 3.8% advance for the 76-company S&P 500 Financials Index, Bloomberg reported.

“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” McInerney wrote. “AI is also helping to accelerate this evolution and shape the way work gets done at Visa.”

“As a result of the choices we have made over the past few years, we are entering a new era in commerce with a business that has real momentum,” McInerney said in the memo. “We see this in our continued strong financial results, client satisfaction, employee engagement, and breakthrough innovation as we build and ship products better and faster than ever before.”

Velocity Pitch Competition Offers Platform for Tech Startups

Defense and dual-use technology companies hoping to land some defense and technology contracts are going to get their chance to compete for more than $30,000 of awards.

Velocity, an MEDC SmartZone located in the Sterling Heights Innovation District and serving all of Macomb County, will host the Velocity Emerging Defense Tech 5X5 Pitch Competition during the Ground Vehicle Systems Engineering & Technology Symposium.

GVSETS, in its 18th year, is a forum for the ground systems community to collaborate on the future of military mobility and defense technology. It takes  place Aug. 11-14 at the VIBE Credit Union Showplace GVSETS Trade Show in Novi.

While Velocity has sponsored similar competitions at other venues, this is the first one with GVSETS.

“What a better time and place to call out some of these new and emerging technologies that are adjacent to the ground vehicle space,” said Paula Macpherson, Velocity’s executive director. “There’s a lot of great founders throughout Michigan and a lot of great technology, so we decided to put on this pitch competition.

“The hope is to bring forward more of these Michigan technologies that are out there  and try to shine a light on them and give them an opportunity to be commercialized and be used,” she added.

Velocity, which has the smart-zone designation from the MEDC, primarily serves Macomb County. Macpherson said that, at any given time, some 40-60% of (Macomb County) manufacturers are participating in defense manufacturing.

“There’s a lot of technology being born,” she said. “Since we deal with a lot of defense firms, we thought this would be a great time and place to offer this.”

So what are they exoecting the pitches to look like?

“We’re likely to see a lot of hard-tech, things you can see and touch,” Macpherson said. “I think we’ll also see some AI products, and I anticipate we’ll see some drone products, as well. It’s pretty well-known that ground systems … the army are all looking at drones as a complement to ground systems. I think we’ll see a mix of those three things.

“Given the current climate we’re seeing out in the world, everybody is realizing we need to develop better technology, and at a faster pace than we have been in the past,” she added.

Companies chosen to pitch will compete for the opportunity to win more than $30,000 in unrestricted cash prizes, plus a $6,000 legal services voucher. Judges will evaluate each company based on innovation, market opportunity, commercial viability, and overall impact, with prizes awarded to the top three teams.

The pitch competition takes place Thursday, Aug. 13, from 11 a.m. to noon.

Applications for the competition are open through Aug. 3. Eligible startups are encouraged to apply for the opportunity to gain exposure to defense industry leaders, investors, strategic partners, and potential customers while competing for funding to accelerate their growth. Companies interested in applying can visit https://ndia-mich.org/event/gvsets/ [ndia-mich.org].

Farbman Group Hires Four, Promotes Two Across Family of Companies

Farbman Group, a full-service commercial real estate firm based in Farmington Hills with operations across the Midwest, announced today four new team members and two new promotions across the enterprise.

“The strength of any organization is defined by its people,” said Andrew V. Farbman, CEO of Farbman Group. “Investing in talented individuals and creating opportunities for them to grow are fundamental to our long-term success. We’re proud to welcome new team members who bring fresh perspectives while celebrating those who continue to grow their careers within our organization. Together, they represent the next generation of leadership that will help shape the future of Farbman Group companies.”

Marcinko joins Farbman Group as a property manager. She brings over 30 years of experience in commercial real estate, accounting, operations and property management. Marcinko also has her Michigan Real Estate Salesperson license, where she has gained experience supporting commercial real estate operations.

Paulus joins NAI Farbman brokerage as a sales associate. He brings eight years of experience in real estate development, focusing on site selection, zoning, navigating municipal entitlements and overseeing project management from planning through completion.

Bauer has joined Farbman Group as a sales associate in the brokerage department. She brings experience from working as a junior broker, focusing on commercial investment property transactions across a variety of asset classes.

Knoll joins Apex Circuitry, a new Apex Mechanical Solutions company, as an electrical technician. He brings hands-on residential electric experience, assisting with electrical installations, repairs and troubleshooting, providing a strong technical foundation for his new role.

Debs has been promoted from a general manager in the firm’s property management department to director of multifamily real estate.

Lyles has been promoted to senior facilities manager in the Dublin, Ohio office.

Governance Provides Framework for Family Business Decisions

Most family businesses do not realize they have a governance challenge until it shows up as something else: a disagreement that lingers, a major decision that stalls, uncertainty about succession, or growing tension between family members and business leaders. The issue is rarely the conflict itself. More often, it is the absence of a clear process for making decisions and managing expectations.

Family business governance is simply the framework that guides how decisions are made within the family, the business, and the areas where the two intersect. It is not about creating bureaucracy or adding unnecessary layers of oversight. Rather, good governance creates clarity, accountability, and communication, helping families stay aligned as both the business and the family grow.

In many first-generation businesses, governance is informal because it can be. The founder often serves as the primary decision-maker, resolving issues through experience, authority, and personal relationships. As additional family members become owners, leaders, or employees, however, those informal systems become harder to sustain. What once worked through conversation and trust may become more complicated when siblings, cousins, multiple family branches, or non-family executives are involved.

Without clear governance, family businesses can face difficult questions. Who has the authority to make strategic decisions? How should family members enter the business? What happens when family members disagree on the future of the company? How will ownership and leadership transition to the next generation? Governance helps answer these questions before they become sources of conflict.

Effective governance can take many forms depending on the size and complexity of the business. For some families, it may mean establishing regular family meetings to discuss vision, values, and succession. For others, it could involve creating a family council, documenting family employment policies, or forming an advisory board that provides independent guidance. Your CPA or attorney can often fill that role.  The goal is not to create a one-size-fits-all structure, but to develop processes that support both family harmony and business performance.

Perhaps the greatest benefit of governance is its ability to support continuity across generations. Successful transitions rarely happen by accident. Families that openly discuss leadership development, ownership expectations, and long-term goals are often better positioned to preserve both the business and family relationships over time. Governance creates a forum for those conversations and helps ensure that future leaders are prepared for their responsibilities.

At DKSS CPAs + Advisors, we understand that family businesses face unique challenges that extend beyond financial performance. As trusted advisors to privately held and family-owned companies, we help families develop practical governance structures that fit their culture, goals, and stage of growth. From facilitating family discussions and succession planning to advising on family councils, advisory boards, and governance policies, we help create frameworks that encourage transparency, strengthen decision-making, and support long-term success.

The most successful family businesses recognize that governance is not about control. It is about creating a shared understanding of how the family and business will work together. By putting the right structure in place today, families can reduce uncertainty, strengthen relationships, and build a foundation that supports future generations.

Ursula Scroggs, CPA, is Managing Director at DKSS CPAs + Advisors, with offices in Troy and St. Clair Shores, Mich. Staci Rewalt-Kolasa, CPA, is Director of Business Tax for DKSS.

Epitec Acquires TalentBurst IT Divisions

Southfield, Mich. – Epitec, Inc., a certified women-owned IT, engineering, and professional staffing company, has acquired the Information Technology and Engineering and State, Local and Education Government staffing divisions of TalentBurst, Inc.

The acquisition, which closed June 1, marks a significant expansion of Epitec’s delivery capabilities and scale across IT, engineering, professional services, and public-sector programs, further strengthening its support for customers and employees throughout the U.S. and Canada.

“As Epitec approaches 50 years in staffing, this acquisition marks a strategic and highly complementary expansion for our company,” said Rebecca Bray, President of Epitec. “TalentBurst has built a strong reputation for delivering exceptional talent and service, making this a natural fit for both organizations. We look forward to welcoming new customers and employees to Epitec and supporting their continued success through our relationship-focused approach, scalable delivery model, and proven operational excellence.”

“This transition represents an exciting next chapter for both organizations,” said Bharat “Brad” Talwar, CEO of TalentBurst. “We are incredibly proud of the foundation our IT, Engineering, and SLED teams built over the years, and we are confident they will continue to thrive under Epitec’s leadership. For TalentBurst, this divestiture allows us to sharpen our strategic focus across our growing workforce solutions portfolio and deepen our commitment to the clients and partners we serve.”

Epitec and TalentBurst are working closely to ensure a seamless transition for customers, consultants, employees, and partners, with a continued focus on service continuity, communication, and long-term relationship support.

Following the divestiture, the TalentBurst name will remain the parent brand for TalentBurst Connect and TalentBurst Healthcare & Life Sciences. All public-facing brand channels will remain with TalentBurst to ensure continuity for clients, consultants, employees, and partners.

Oxford Housing Launches Matching Program for U-M Students

For many University of Michigan students, choosing where to live is only half the challenge. Deciding who to live with can be just as important. As students begin searching for housing for the upcoming academic year and beyond, Oxford Housing is making the process easier with the launch of its free Roommate Matching Program, a personalized service that helps students connect with compatible roommates and housing that fits their needs in Ann Arbor.

Unlike traditional roommate searches that rely on social media, online forums or roommate apps, Oxford Housing’s program begins with a brief online survey that is personally reviewed by members of the Oxford Housing team. Rather than relying on an algorithm, the team thoughtfully matches students based on lifestyle preferences, budgets and housing needs.

The free survey takes less than five minutes to complete and asks questions about living preferences, including noise level, parking needs, pet preferences and other factors that contribute to successful roommate relationships.

Within one business day of submitting the survey, participants receive personalized roommate recommendations, a curated list of available Oxford Housing apartments that fit their needs and assistance scheduling property tours. Participation is free, and there is no obligation to lease through Oxford Housing.

As Ann Arbor’s largest residential property manager, Oxford Housing offers a wide range of housing options throughout the city and has extensive experience helping University of Michigan students find housing that fits their needs.

Students and parents interested in participating can complete the free Roommate Matching Survey in less than 10 minutes. For more information or to complete the Roommate Matching Survey, visit https://oxfordcompanies.com/multifamily/housing-match-survey/.

Michigan Cognitive Recovery Center at Lakeshore Woods Launches ReCODE+

The Michigan Cognitive Recovery Center (MCRC) at Lakeshore Woods, a senior living community in Fort Gratiot Township, has launched ReCODE+ for Facilities Program (ReCODE+), an innovative residential cognitive recovery program based on the ReCODE Protocol™ developed by Apollo Health™. MCRC is the first facility in Michigan and one of only two facilities in the United States to offer ReCODE+.

Developed by neurologist and Apollo Health Chief Science Officer Dr. Dale Bredesen, the ReCODE Protocol is a personalized, precision-medicine approach to identify and address the underlying contributors to cognitive decline, namely Alzheimer’s disease. Using decades of research, the program uses participant’s medical history, genetics and biomarkers to create a customized plan aimed at improving cognitive function and overall health.

ReCODE+ is the comprehensive 12-month residential experience for individuals who may need or benefit from additional support, structure and oversight. The program combines personalized interventions with a carefully managed environment designed to maximize health outcomes. MCRC is now accepting new residents for the ReCODE+ program at their Lakeshore Woods facility.

“For families facing cognitive decline, the options have historically focused on managing symptoms rather than addressing root causes,” said Steven Larsen, founder and CEO of MCRC and owner of Lakeshore Woods. “After watching my brother live with Alzheimer’s disease, I knew there had to be a better way. We’re proud to bring this groundbreaking program to Michigan and offer hope to families across the region.”

Lakeshore Woods has served older adults for more than 30 years through independent living, assisted living and memory care services. The community maintains staffing levels that exceed typical skilled nursing staffing standards, providing residents with highly personalized care and enhanced support.

Falling Gas Prices Led to Inflation Cooling in June

With new rounds of bombing resurrecting the war in Iran, gas prices have started inching upward.

But they fell enough in June to bring about a cooling of the U.S. inflation rate.

According to statistics released Tuesday by the Labor Department, the consumer price index rose 3.5% in the 12 months ending in June. That’s down from 4.2% in May, which had marked the fastest pace in three years.

On a monthly basis, prices fell 0.4%, driven largely by a 10% drop in gasoline prices after a mid-June agreement extending a tentative ceasefire between the United States and Iran calmed oil markets, according to a report from The Washington Post.

The Post report also notes that economists think that inflation could take two years or more to return to 2%, the level the Federal Reserve considers consistent with stable prices.

“That’s assuming we don’t get more shocks,” Alan Detmeister, an economist at UBS, told The Post, referring to such disruptions as new tariffs, spikes in energy prices or fresh geopolitical conflicts.

Forces pushing up inflation are multiplying rather than fading. Tariffs are still impacting supply chains, with many firms telling the New York Fed that they plan additional price increases in the months ahead, according to The Post. And a boom in artificial-intelligence infrastructure is driving up the cost of electronic components and electricity.

Some Fed officials have signaled frustration with consecutive months of rising inflation and warned that stubborn readings of core inflation, which strip out volatile food and energy prices, could push the central bank toward raising interest rates. After cutting rates three times last year, the Fed has left them unchanged in 2026.

“If we get another hot reading on core inflation this week, then the FOMC will need to consider tightening monetary policy in the near term,” Fed governor Christopher Waller said Monday, referring to the Federal Open Market Committee.

New York First to Impose Data Center Moratorium

Data centers are becoming a hot-button issue, springing up around the country.

But not in New York, at least not for the next year.

New York became the first U.S. state on Tuesday to halt construction of large new data centers. Reuters reported the state has placed a one-year moratorium on their construction amid worries that the facilities driving the artificial-intelligence boom are raising power costs, straining water supplies and burdening local communities.

The moratorium puts New York right out front of what is becoming a growing national debate over managing the infrastructure needed to support artificial intelligence. While technology companies are racing to build new data centers, lawmakers and regulators in dozens of states are weighing measures to limit their effect on electricity grids, utility bills and local communities.

“As data center development threatens to hike up utility bills, deplete our natural resources, and create uncertainty for New Yorkers, it’s my responsibility to take action and lead,” said Gov. KathyHochul, who Reuters reported said she will also “pursue legislation to repeal sales tax exemptions for large data centers.”

The construction ban will apply to data centers that use 50 megawatts or more of power, officials in the governor’s office told Reuters.

During the moratorium, the state’s Department of Environmental Conservation will not issue any discretionary permits not already deemed complete, the governor’s office said.

Instead, Hochul directed state officials to develop a Generic Environmental Impact Statement (GEIS) to ensure that new data centers coming online are being held to “consistent standards,” as well as examine the potential environmental impacts of the construction and operation of data centers in the state.

The ban will be lifted once the state finalizes those standards, according to Hochul’s office.

Ford Appoints Matt VanKuiken Chief Government Affairs Officer

Ford Motor Company announced Matt VanKuiken has been named Chief Government Affairs Officer, effective Aug. 3.

VanKuiken joins Ford from BlackRock, where he served as director of Federal Government Affairs. Before joining BlackRock, VanKuiken spent 15 years in the U.S. Senate, including eight years as chief of staff to U.S. Sen. Debbie Stabenow.

At BlackRock, VanKuiken led strategies to advance policy priorities in Washington and strengthened key relationships across the U.S. Senate, House of Representatives, and committee leadership.

This followed his time as chief of staff to Stabenow, where he managed daily operations across the senator’s Washington, D.C., Michigan, committee and leadership offices.

In the Senate, VanKuiken helped advance legislation impacting the automotive industry, including USMCA negotiations, production tax credits under the Inflation Reduction Act, and evolving emissions standards.

“Matt’s deep understanding of the auto industry and state, federal, and international policy makes him an invaluable asset to Ford,” said Steven Croley, Ford’s chief policy officer and general counsel. “As our industry navigates a time of rapid progress, Matt’s leadership and experience will ensure Ford’s voice is heard clearly around the world.”

“I am thrilled to join Ford Motor Company at such a pivotal moment for the auto industry,” said VanKuiken. “As a Michigan native, Ford’s legacy of American manufacturing is personal, and I look forward to advocating for the company’s priorities globally. I’m excited to work alongside this talented team as we manage the road ahead.”

In his role, VanKuiken will lead Ford’s global Government Affairs team, including engagement with state, federal, and international government officials.

He will oversee efforts to promote legislation, regulations, and policies that directly advance the Ford+ plan for growth and value creation.

Michigan Medicine Chief Miller Leaving for Vanderbilt

ANN ARBOR, Mich. – University of Michigan President Domenico Grasso announced that David C. Miller — a urological surgeon and a nationally recognized expert in urological oncology, quality improvement and health services research — has been named President and Chief Executive Officer of Vanderbilt Health and Dean of the Vanderbilt University School of Medicine, effective Jan. 1, 2027. 

Miller’s appointment to Vanderbilt follows more than a decade of service and leadership at Michigan Medicine, where he held several leadership roles, including Executive Vice Dean of Clinical Affairs for the Medical School and President of U-M Health. He was appointed to his current role, Executive Vice President for Medical Affairs and Chief Executive Officer, following the retirement of Marshall S. Runge in July 2025.  

“David has strengthened Michigan Medicine in enduring ways through many accomplishments over more than a decade of exceptional leadership,” Grasso said. “His accomplishments include advancing clinical and operational excellence, improving patient safety, driving strategic growth and integration to develop a statewide clinical network and further elevating Michigan Medicine’s national distinction as a leading academic medical center. David has created a culture of trust, transparency and communication strengthening the entire organization. We are deeply grateful for his steadfast leadership, his unwavering commitment to our mission and the countless contributions he has made to our patients, learners, faculty and staff.”

“Dr. Miller is an exceptional leader who has demonstrated a deep commitment to patients and families and extraordinary effectiveness in overseeing all aspects of our education, research, and clinical care delivery operations,” said Michael Behm, Chair of the University of Michigan Board of Regents. “Vanderbilt is gaining a leader of uncommon integrity, judgment, and vision. We are grateful for all David has contributed to Michigan Medicine and proud to see him called to this extraordinary opportunity.”

The Vanderbilt role combines leadership of an independent academic health system with oversight of the medical school. As President and CEO of Vanderbilt Health, Miller will lead the health system and report directly to the independent Vanderbilt Health Board of Directors. In his role as Dean of the Vanderbilt University School of Medicine, he will report to the University’s Chancellor.

“This has been one of the most consequential decisions of my career,” Miller said. “Michigan Medicine has been far more than my workplace — it has been my professional home. Leaving a community that I care so deeply about is incredibly difficult. I will always be grateful for the privilege of serving alongside such remarkable and committed team members, and for the trust that our patients and the communities we serve place in us every day. The opportunity at Vanderbilt Health and Vanderbilt University School of Medicine is unique and compelling, and I am honored to have been asked to serve in this role.” 

To ensure stability for Michigan Medicine and sustain momentum for its strategic priorities, Miller has agreed to remain in his leadership position until Dec. 1, 2026, to assist in a thoughtful and smooth transition, President Grasso said.      

Potential Source Identified for Cyclosporiasis Outbreak

Officials believe they know the source of a parasitic illness that has affected thousands of people in the United States.

Citing two individuals familiar with the case, The Washington Post reported that investigators have identified shredded iceberg lettuce supplied to Taco Bell restaurants by Taylor Farms as a potential source of the contamination.

The two spoke on the condition of anonymity to share details of the ongoing investigation.

The outbreak of cyclosporiasis has been largely concentrated in southeastern Michigan, where more than 4,300 cases have been reported and at least 100 people have been hospitalized as of Thursday.

According to The Post, officials from the Centers for Disease Control and Prevention said this week they have identified a likely link among cyclosporiasis cases in four states – Michigan, Ohio, West Virginia and Kentucky – marking the agency’s clearest public indication yet that many of the illnesses are connected to a common source.

A top official from the Food and Drug Administration said earlier this week that its investigation involves multiple produce items, including lettuce, according to The Post. 

“The signal we have gotten is that there is a very high percentage of people who got sick at Taco Bell, and when investigators asked what their menu items were in common, lettuce came up frequently,” one of the individuals told the paper. When the FDA asked the company where they sourced the lettuce from, it was Taylor Farms, not just for the Taco Bell stores in Michigan but also for restaurants in the three other states, the person said.

Notices posted at some Detroit-area Taco Bell restaurants earlier this month told customers the chain was “currently unable to sell Lettuce, Cilantro Onion, Pico de Gallo, and Guacamole due to a nationwide recall,” according to media reports.

Taco Bell Corp. said this week that it will continue to monitor the situation and follow the guidance of health authorities.

“The health and safety of our guests is our top priority,” the company said. It had said it “voluntarily and temporarily removed limited ingredients at select restaurants as a precautionary measure.”

Roncelli Marks 60 Years with Investments in People, Places and Technology

STERLING HEIGHTS, Mich. –Roncelli, one of Michigan’s leading construction services companies, is celebrating its 60th anniversary by investing in the people, places and technology that will shape the company’s next generation of growth.

Founded in 1966 by Raymond “Skip” Roncelli as a concrete trenching contractor, Roncelli has grown into a third-generation, family-founded construction services firm with more than 200 team members and work throughout Michigan, the Midwest and Canada.  In its 60th year, the company expects to post the highest revenue in its history, exceeding $550 million.

As part of the company’s evolution, Roncelli has recently: 

  • Expanded ownership participation among key leaders
  • Launched a phantom equity plan for nearly 20 percent of the senior leadership team
  • Completed an overhaul of the Sterling Heights, Mich. headquarters building
  • Relocated the Detroit office (to the Chroma Building)
  • Refreshed the brand/logo and corporate website
  • Implemented companywide AI tools to support teams and clients
  • Raised and donated more than $100K to community non-profits, through the Roncelli Family Foundation

“Sixty years is a major milestone, but for us this is not just a look back,” said Gino Roncelli, president and CEO of Roncelli. “We are honoring our history by investing in the next 60 years — in our people, our leadership, our technology, our workplaces and our long-term commitment to Detroit and the greater community.  We could not be prouder of our team, our growth and the reputation Roncelli has earned in the market.”

 Expanding Ownership and Leadership

To strengthen long-term continuity, deepen accountability and align more of the company’s leaders around shared success, Roncelli has broadened ownership for key executives who helped shape the company’s trajectory and will lead its next chapter.

 Roncelli added four new chief officer positions filled by long tenured team members: Jim Carnacchi as Chief Preconstruction Officer, Michael Cairns as Chief Financial Officer, Paul Day as Chief Operating Officer of Core Markets, and Jereme Poxson as Chief Operating Officer of Specialized Markets.  Each has earned equity in the company and work alongside Gino Roncelli to guide the firm’s continued growth.

 Additional leaders, including Jude DeBacker, Senior Vice President of Field Operations; Jeff Tessmer, Senior Vice President of Project Management and Tony Roncelli, Senior Project Leader, also have earned equity in the business.

 Roncelli also has launched a non-voting phantom equity plan for nearly 20 percent of its key senior leadership team, designed to reward long-term performance, strengthen retention and create broader participation in the company’s success.

Investing in Place

Roncelli recently completed a major renovation of its Sterling Heights, Mich. headquarters, creating a more modern, flexible and connected workplace for its growing team.  The renewed 50,000-square-foot headquarters includes state-of-the-art meeting and connectivity rooms, to support collaboration across jobsites, offices, clients and regional project teams.

 Roncelli also is reinforcing its long-term commitment to Detroit with a move to the historic Chroma Building at 2937 E. Grand Blvd.  In addition to establishing its new Detroit office in Suite 505, Roncelli-affiliated stakeholders have acquired an ownership stake in the property, cementing the company’s footprint in the city’s future.

 Embracing the Future

Roncelli’s 60th anniversary coincides with the company’s efforts to modernize how it builds. The firm has expanded its use of construction technology, data tools and companywide AI resources to support communication, planning, project delivery, safety and operational decision-making.

 Roncelli also has refreshed its brand identity and online presence, including a new logo and updated website at buildroncelli.comThe new look and resources reflect Roncelli’s evolution from its concrete roots into a diversified construction services firm serving multiple industries and specialized markets.

 Giving Back

The 60th anniversary year also sees Roncelli making continued growth in its community efforts through the Roncelli Family Foundation.  The company’s annual signature fundraising event, Bourbon & Bags, this year raised more than $100,000 to be shared among the Detroit Wayne Integrated Health Network, YMCA of Metropolitan Detroit, The Parade Company and the Detroit Zoological Society.

 “Roncelli has always been about more than projects,” Roncelli said.  “We want to build great work, great careers and stronger communities.  As we look ahead, our goal is to make Roncelli a place where the best of the best want to come, stay, lead and build great projects in Detroit and across the region.”

Intriguing Job Offer Brings Inforum CEO Back to Michigan

After following her husband to Louisville, Ky., when he had a job opportunity with Ford Motor Company, Donna Murray-Brown had no real plans to return to Michigan.

Even when her husband retired, they had settled into their lives and didn’t figure to come back.

“I had no plans on coming back … We probably imagined ourselves moving further south just for warmer weather as part of retirement,” Murray-Brown said. “So, it wasn’t necessarily in our mindset to go back to Michigan because we were kind of looking ahead to 10 years or so and we think we might want to retire.”

Then she got word of the opening at Inforum Michigan, where longtime president Terry Barclay was retiring, and things changed. Murray-Brown, who had been president of the Michigan Nonprofit Association, was, of course, familiar with Inforum Michigan, a network of women leaders and allies that offers events, programs and research to advance careers and diversity.

She’d been doing some consulting work in the nonprofit space and wasn’t sure it was for her, necessarily. But a board member had reached out, and Murray-Brown agreed to have the conversation.
“The position just kept coming back to me, so I would remain open and decided that I would take a conversation,” Murray-Brown said. “And that one conversation changed my whole view on everything. It was a really dynamic conversation around women and leadership. And it really spoke to the possibilities for me around supporting leaders on a bigger platform.”

The conversations continued to the point where it became clear Murray-Brown was the correct choice. She started the new job in January.

Murray-Brown sat down with Corp! Magazine and talked about her new job, the challenges that come with it and a variety of other topics.

Corp!: At first you weren’t sure the job was for you. What shifted your perspective from “not for me” to “let’s talk”?
Murray-Brown: The first conversation with a board member was “really dynamic” and centered on women and leadership. The board member’s commitment to Inforum was “palpable,” and the discussion opened up bigger possibilities for supporting leaders on a larger platform.

Corp!: What have you learned in the first six months?
Murray-Brown: So, there’s a lot of things I’ve learned. There are a lot of leaders, both men and women, who value the leadership that women bring to the table. And that was remarkable. I spoke to nearly 300 or so stakeholders to ask them about their perspective, whether it was internal stakeholders, staff, board, partners, all of that just kept going out of the ring. And it’s amazing how many people care about leadership.

Corp!: Inforum’s whole thing is to champion and advance women in leadership positions. Why do you care about that?
Murray-Brown: I care about that for several reasons. One personally, in my own career, from banking into the nonprofit sector, each step of the way in my advancement, there was somebody that was there that was a mentor, or in a lot of cases, there were sponsors, and these sponsors were men who said, “Here’s who Donna Marie Brown is. I’m not in the room, but they’re talking about me. “ And that helped to advance my career. They did that because they believed in me and they believed in my leadership.
Now, being a part of a platform that allows for thousands of women to have that opportunity, who deserve that opportunity, by the way, that is something that draws me to this organization and inspires me.

Corp!: Where do you see Inforum going?
Murray-Brown: At Inforum, I am coming into an organization who has lots of great assets and infrastructure to do great things. So I don’t feel like I’m starting from scratch at all. I do think that there are a lot of opportunities that I can leverage. And so where I see it going is that with all of its remarkable 64-year history, we can honestly position ourselves as an essential part of the infrastructure for women’s leadership in Michigan.

I think that is where we need to be. So that is at the tables that are making decisions around the economy and where Michigan Women’s Leadership fits into that. So, I’m having conversations and speaking with others that are doing the work like the Michigan Women’s Commission. Those are partnerships now that I think that I want to dig deeper into to be able to advance the needs for women.

Corp!: What is it that is the success of Inforum. What’s the key?
Murray-Brown: I gave you two pieces of my framework that were essential. I didn’t give you the third one and the fourth, and it’s kind of embedded in that. So, the third one is Elevate. And so, I think the success of Inforum has been the knowledge that it disseminates like that report you just talked about. We have to elevate our voice.

What makes us successful is influencing behavior by putting the information out there but also saying what you can do about it. So that’s a key to our success that we have 75 corporations, corporate partners who are saying, “We believe in what you’re doing.” And they also are not, by the way, their footprint’s not just in Michigan. Our success is the connection and relationship we built with these that there’s not just in Michigan, but goes out.

Corp!: Talk a little bit about your career path.
Murray-Brown: So, my path was a zigzag path, partly because I’m first-generation college graduate, so there wasn’t this playbook for me personally. And so, it was zigzag because it was influenced by people who saw something in me and then brought me into the fold, and then I learned skills along the way.
In 2009, that’s when I started my career in the nonprofit
sector.

Corp!: And any regrets?
Murray-Brown: None. Zero. I wish I understood the nonprofit sector a bit more. That just wasn’t in my psyche about that being an opportunity and career. But what I love about Inforum is it’s marrying up that financial corporate life I had before and my nonprofit expertise. This is a perfect fit. I never would’ve even thought of it that way, but it really is.

Corp!: What’s the big challenge for nonprofits these days?
Murray-Brown: It kind of really depends on the nonprofit itself. There are lots of, generally speaking for nonprofits, funding. Obviously, funding was a big hit when there was a change in administration around just federal funding that nonprofits received to be able to do their work. So, depending on the type of work that they were doing, if it was not aligned with the federal funding, they hurt quite a bit. And then you’ve got organizations like ours that are identity-based based on women. And so there are maybe some challenges. We have not experienced those challenges, but I know some of my other colleagues have.

Corp!: What’s your biggest takeaway from the 2026 Inforum report?
Murray-Brown: So, my biggest takeaway is that the progress is still incremental. I mean, I personally am staying up at nights because of the report, because I would like to know, and I’m thinking through how informed the metrics are tied to that report. Are we doing what we need to do to actually make
that report different?

Corp!: Are there encouraging numbers in the report?
Murray-Brown: Yeah, I think … we’re moving in the right direction. It’ll be interesting to see the next report because some of it is still kind of, in some cases for some corporations, this knee-jerk reaction to 2020 and their perspectives around commitment to diversity, equity, inclusion, and seeing women as a way to make a statement. But what I’m hoping, because we’re seeing more women in the hop role, which is fantastic, we’re seeing more women on board, those are great things, but we don’t want to slip in any way. And we can’t wait for two years to figure out if we’re slipping. We have to assume that we have to hold on and get better.

Huntington Bank Closing 13 Michigan Branches

Huntington Bank is closing 13 branches across Michigan – including some metro Detroit locations – multiple outlets reported Monday.

In a statement, Huntington officials said the decision was part of  “regular review.”

“Huntington Bank regularly reviews its distribution network and makes adjustments to ensure we have the right mix of branches, ATMs and digital banking to meet our customers’ evolving needs,” the bank said in the statement. “This review includes branch openings, renovations and, in some instances, closures and consolidations.”

Most of the branches being eliminated will close Aug. 28; the Troy West and Traverse City locations are scheduled to close in November, according to the company.

The Detroit News reported the bank pointed out that each branch being consolidated has another Huntington location within about 10 minutes. Huntington did not specify what factors led to the decision.

The bank also did not say whether the closures would result in layoffs, according to The News. Huntington said it will make efforts to place impacted employees into other roles within the company.

Following the closures, Huntington said it will continue operating 286 branches statewide, maintaining its position as the bank with the largest branch network in Michigan.

The Detroit Free Press reported that Fifth Third Bank will have the second-largest bank branch network in the state with 227 locations, once it finishes closing 75 branches as part of its recent acquisition of Comerica Bank.

JPMorgan Chase is No. 3 in Michigan with 173 branches, according to the latest reported figures from the Federal Deposit Insurance Corp.

Huntington Bank previously closed nearly 200 Michigan branches as part of its acquisition in 2021 of Detroit-based TCF Financial Corp.

LAFCU Hosts Financial Reality Fair For Local High School Students

LANSING, Mich. — LAFCU, in partnership with CASA for Kids, Inc., Big Brothers Big Sisters Michigan Capital Region and Child and Family Charities, will present its Financial Reality Fair for local high school students Wednesday, July 22, giving teens a hands-on look at real-world financial decision-making.

Open to rising 10th-, 11th- and 12th-grade students, the event will take place at Child and Family Charities, 407 W. Greenlawn Ave. Lunch and socializing will be held from noon-1 p.m., followed by the Financial Reality Fair from 1-3 p.m. Attendance is free, and lunch and snacks will be provided.

The two-hour simulation gives students a chance to experience one month of adult living. Participants select a future career and create a budget based on their projected salary, making spending decisions for expenses such as housing, transportation, food and other necessities.

Students will work with LAFCU financial counselors to review their spending choices and better understand budgeting, saving, borrowing and building credit.

“Financial literacy is one of the most important skills young people can learn before they begin making major financial decisions on their own,” said Shelia Scott, LAFCU community financial education and business development officer. “The Financial Reality Fair shows students how quickly expenses can add up and why planning, saving and making informed choices matter.”

The event is designed to give students practical experience with financial decision-making while connecting them with community organizations invested in youth development.

Students interested in attending can register here.

Centria Autism Expands Michigan Footprint With New Detroit Therapy Center

Centria Autism, a leading national provider of Applied Behavior Analysis (ABA) therapy,  announced the opening of a new therapy center in Detroit – expanding its footprint and responding to the need for more quality autism therapy services across the community its headquartered.

“It’s a meaningful moment any time we’re able to expand access to care for a community that needs it – and the opening of this center is especially significant, as it improves our ability to serve the state in which Centria first introduced services 15 years ago,” said Timothy Yeager, Chief Clinical Officer at Centria Autism. “We’re guided by a firm belief that every child with autism and their families deserves a compassionate partner and asset-based plan to help them achieve their unique personal goals, on their terms, and this new location brings us that much closer to putting that belief into action.”

The 20,969 square-foot center at 8000 John C Lodge opened June 15 and is currently welcoming new clients. This newest addition represents the Farmington Hills-based provider’s commitment to deepening its local roots and improving access to care for families in metro Detroit and beyond.

Centria centers offer individualized treatment plans from a team of Board-Certified Behavior Analysts (BCBAs) and Behavior Technicians, prioritizing the development of everyday skills and social behaviors that will allow children with autism to thrive in school, at home and in their communities.

According to the CDC, one in every 31 kids is diagnosed with autism – illuminating an increasing need for quality behavioral therapy across the board. Centria is continuing to honor its commitment to supporting those on the spectrum with centers in Arizona, Indiana, Georgia, Massachusetts, Maryland, Michigan, North Carolina, New Mexico, Oregon, Texas and Virginia.

Gordie Howe Bridge Finally Set to Open

Windsor, Ontario — Every day, hundreds of millions of dollars in trade cross the Windsor-Detroit corridor, making it the busiest international land border crossing in North America. The Gordie Howe International Bridge will be a vital economic link between Canada and the U.S. — generating billions of dollars in economic activity for decades to come.

Canada and Michigan have now reached an agreement to open the Gordie Howe International Bridge on July 27, with the support of the U.S. Government.  The bridge will be a major economic driver in the region and will also provide options for commuters, tourists, and businesses.

“After years of planning, partnership, and construction, the Gordie Howe International Bridge will soon be opening – providing a new connection for the region, while strengthening one of the world’s most important trade corridors,” said Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada. “This nation-building project is a testament to what Canada can accomplish when we come together with a shared vision. Our gratitude goes to all the staff, workers, partners, and community members who were involved. The Gordie Howe International Bridge will create new opportunities, strengthen our economy, and bring economic benefits on both sides of border for generations to come.”

A product of sustained collaboration over the past decade, the bridge will strengthen North American supply chains, support manufacturing, and improve the movement of essential goods.

Spanning the Detroit River between Windsor, Ontario and Detroit, Michigan, the six-lane, cable-stayed bridge features a main span of nearly 2,800 feet, the longest of its kind in North America, and extends approximately just over 1.5 miles. The crossing also includes modern ports of entry on both sides of the border equipped with advanced screening and border management technologies, creating one of the most advanced and secure land border crossings in North America.

To support this opening and ensure that benefits are felt on both sides of the border, Canada and the United States have agreed to a series of cooperative measures focused on toll governance and transparency, as well as investments in the region, including through the establishment of a 15-year economic development fund tied to a portion of profits from bridge operations.

Michigan Gov. Gretchen Whitmer called the bridge is a “testament to the enduring partnership between Michigan and Canada.”

“The Gordie Howe International Bridge has always been a great deal for our state,” Michigan Gov. Gretchen Whitmer said. “Thousands of Michigan workers built this critical bridge, which will speed up auto production, lower costs, ease traffic, strengthen agriculture, and give people on both sides of the border better-paying jobs and brighter futures. I’m proud to have fought for its opening and congratulate my partners who have worked on this issue alongside me for years.

The Windsor-Detroit Bridge Authority will also work collaboratively with the Government of the United States on toll-rate adjustments, seeking concurrence for certain non-market related toll changes.

The opening of the Gordie Howe International Bridge will not only be an important moment for the region, but for Canada, as we work to strengthen one of the continent’s busiest transportation corridors, improve the flow of people and goods, increase the resilience of North American supply chains, and support economic growth and good-paying jobs.