Renowned investor and Stock Market Historian, Jeremy Grantham has No Faith in Federal Reserve

- August 20, 2023

Renowned investor and stock market historian, Jeremy Grantham, has expressed his belief in an upcoming US recession.  Grantham, known for accurately predicting previous financial crises, does not have confidence in the Federal Reserve’s ability to steer the economy towards a soft landing. He argues that higher interest rates will cause pain in the markets and expects the repercussions to drag on, potentially sparking a recession that could last into 2024. Grantham also warns of a possible stock market decline accompanying the downturn. In April, he predicted a significant market decline and a brutal recession, advising against holding US stocks and criticizing the Federal Reserve for creating asset bubbles. Furthermore, Grantham suggests that Federal Reserve Chair Jerome Powell’s goal of 2% inflation may be challenging to achieve. He believes that we have entered a period of moderately higher inflation and, consequently, moderately higher interest rates. Grantham states that low rates push asset prices up, while higher rates push them down, and he anticipates an era of higher rates compared to the previous decade. In summary, Jeremy Grantham’s insights highlight his concerns about an impending US recession and doubts about the Federal Reserve’s ability to effectively manage the situation. He warns of the negative impact of higher interest rates on the markets and expects a potential stock market decline as a result. Additionally, Grantham predicts moderately higher inflation and interest rates going forward. TBC Onlinetampabayconnects.com

Catastrophic results on the horizon with 1 trillion of high debt says Bank Of America.

- August 20, 2023

Bank of America has issued a warning about a mountain of high-yield debt that could potentially be at risk. The bank estimates that companies have accumulated approximately $1 trillion of high-yield debt over the past five years, largely driven by below-investment grade corporations.  According to Bank of America’s analysis, around 25% of this debt consists of below-investment grade firms issuing risky high-yield bonds. Additionally, 35% is comprised of broadly syndicated loans taken out by below-investment grade companies, while the remaining 40% is classified as private debt. This buildup of high-yield debt poses a significant concern for the market. Bank of America strategist Yuri Seliger stated in a note on Friday, “$1 trillion in new leveraged credit over the last five years faces its day of reckoning.” Seliger further explained that approximately half of this borrowed money is currently housed in well-performing capital structures, while the other half is now in various stages of stress. To dive deeper into the potential risks, it is worth highlighting specific figures. Around $400 billion of the debt is currently trading at rates over 6%, which Bank of America categorizes as “pre-distress.” Refinancing these assets could lead to a coupon rate of 10% or higher. Additionally, roughly $150 billion of the debt is considered to be “deeply distressed,” as refinancing is no longer a viable option. It’s not just Bank of America raising concerns about mounting debt levels in the United States. Experts have been voicing worries about both private and public debt as the country moves away from a period of low-interest rates towards a regime of higher rates. The US has seen an increase in real interest rates, with a rise of 525 basis points to combat inflation, subsequently leading to elevated borrowing costs for corporations. This, coupled with a surge in corporate defaults – surpassing last year’s total, according to Moody’s Investors Service – paints a worrisome picture. Bank of America had previously predicted that up to $1 trillion of corporate debt could be at risk of default if the US were to enter a full-blown recession. However, strategists currently do not see a recession as likely to occur this year. In conclusion, the accumulating high-yield debt of around $1 trillion poses a potential risk for the market. With about half of this debt at risk of defaulting, experts are closely monitoring the situation. As interest rates rise and concerns over mounting debt levels persist, it remains to be seen how these factors will shape the financial landscape in the near future. TBC Onlinetampabayconnects.com

Tampa Electric Company President Addresses High Bills and Offers Solutions for Customers

- August 19, 2023

Dear Valued Customer, Archie Collins, President and CEO of Tampa Electric, recently reached out to discuss an important subject affecting many customers: higher-than-normal bills resulting from elevated fuel costs in 2022 and a scorching hot summer. In his letter, Mr. Collins highlighted the steps being taken by Tampa Electric to address these concerns and provide relief to its customers. The letter provided some encouraging news – plans are underway to significantly decrease electric bills for 2024. Tampa Electric has filed a request with the Florida Public Service Commission (PSC) to reduce bills, which, if approved, would result in a monthly energy bill decrease of approximately 11 percent for residential customers and between 10 and 18 percent for commercial and industrial customers. This reduction is primarily attributed to lower natural gas prices and the construction of new solar plants. The requested decrease would position Tampa Electric’s rates well below the national average, ensuring affordability for the community. Acknowledging the immediate predicament faced by customers, Mr. Collins addressed the issue of high summer bills. He attributed the soaring energy usage to record-breaking temperatures and extended periods of extreme heat. Tampa Electric has implemented several measures to assist customers during this challenging time, including a $1 million donation towards helping qualified customers pay past-due bills through the Share program. Additionally, the company paused disconnections during extreme heat periods and introduced longer-term payment arrangements for the remainder of the year. To help customers better manage their energy usage and save on bills, Tampa Electric is offering valuable solutions. Among these recommendations is setting the thermostat to 78 degrees, which can yield substantial savings. The energy experts at Tampa Electric have also developed hot weather tips and various energy-saving programs like Energy Planner, Prime Time Plus, and free online Energy Audits, all aimed at empowering customers to reduce their energy consumption and costs. Mr. Collins emphasized the extensive range of energy-saving initiatives offered by Tampa Electric, with more than 30 programs designed to cater to both residential and business customers. He encouraged customers to take advantage of these programs, including federal and nonprofit assistance for household expenses and utility bills, by connecting with Tampa Electric’s community partners. Finally, Mr. Collins addressed the importance of customer experience and acknowledged the higher-than-normal wait times experienced by some customers during July. He assured customers that steps are being taken to improve the timely delivery of customer service and offered his sincere apologies for any inconvenience caused. As a valued Tampa Electric customer, your concerns are important. If you have any questions or require assistance, remember that Tampa Electric is here to help. By working together, Tampa Electric aims to continue providing affordable and reliable energy solutions to the Tampa Bay community. “Note: This article is brought to you by Tampa Bay Connects publication, providing valuable insights and updates on local happenings to the residents of Tampa Bay” TBC Onlinetampabayconnects.com

Debut Labs: Accelerating Idea’s to Startup Success in Tampa Bay

- August 19, 2023

In the bustling world of startups, having a guiding hand during the crucial phase 1 of planning can make all the difference. That’s where Debut Labs, a startup incubator based in Tampa Bay, steps in. With a mission to accelerate the success of early-stage startups, Debut Labs offers a comprehensive program designed to streamline the startup-building process and propel entrepreneurs towards success. At Debut Labs, they understand the unique challenges faced by first-time founders. That’s why their 16-week hybrid and intensive incubation program is tailor-made to provide step-by-step guidance from idea validation to execution. Through experiential entrepreneurship modules, curated tools and resources, and expert-led feedback and mentoring, Debut Labs simplifies the startup-building process, empowering founders to bring their ideas to life. One of the key differentiators of Debut Labs is their emphasis on action rather than theory. In their program, founders learn by doing, engaging in practical learning sprints that simulate real entrepreneurship. This hands-on approach ensures that entrepreneurs gain the skills and knowledge necessary to navigate the complexities of launching a startup. The learning experience at Debut Labs is further enhanced through masterclasses from industry experts who have a wealth of experience in creating, leading, or investing in high-growth companies. By learning from the best, founders gain invaluable insights and strategies to build their startups more effectively and efficiently. But it doesn’t stop there. Debut Labs also provides expert feedback and mentoring throughout the program. Through one-on-one mentor meetings, weekly feedback sessions, and office hours, founders receive personalized guidance to overcome challenges and make informed decisions. This constant support and mentorship serve as a compass, guiding founders on the right path towards success. Understanding the importance of funding, Debut Labs has cultivated an exclusive network of investors, including angels, accelerators, and pre-seed/seed stage investors across multiple sectors and geographies. This ensures that startups emerging from the program have access to the financial resources they need to thrive. To cater to the diverse needs of startups at different stages, Debut Labs has categorized their programs into multiple tracks. Each track is designed with specific milestones to achieve, allowing founders to progress according to their unique requirements. Whether you’re at the ideation stage or ready for the next level of growth, Debut Labs has a track that fits your needs. Beyond the program itself, Debut Labs offers access to an extensive network of ecosystem players. This allows founders to connect with successful entrepreneurs, partner with cutting-edge prototype labs, and gain market access to domain stakeholders. The power of this network cannot be understated, as it opens doors to potential collaborations, partnerships, and opportunities. With a vision to create an everlasting impact in the early-stage startup ecosystem, Debut Labs is driven by its experienced collaborators, partners, and believers. Together, they form a formidable force dedicated to shaping tomorrow’s startups. Through their programs and resources, Debut Labs aims to empower entrepreneurs in the Tampa Bay area and beyond, helping them build their startups faster and smarter. So, if you have an idea and dream of launching your own startup, Debut Labs is the guiding hand you’ve been looking for. Step into their world of actionable learning, expert mentorship, and a network invested in your success. With Debut Labs by your side, you can confidently bring your ideas to life and embark on a rewarding entrepreneurial journey. Join the next cohort at Debut Labs, starting in September 2023, and take that leap towards building your dream startup. Your ideas deserve to be debuted, and Debut Labs is here to make it happen. Note: This article is brought to you by Tampa Bay Connects publication, providing valuable insights and updates on local happenings to the residents of Tampa Bay TBC Onlinetampabayconnects.com

Unleash Your Speaking Potential with Dr. Delatorro McNeal II at Crush The Stage Event in Tampa!

- August 19, 2023

Are you ready to take your in-person presentation skills to the next level? Look no further than Crush The Stage, a highly anticipated 3-day masterclass designed to help you 10x your expertise in expert-level presentation skills. Led by the renowned international keynote speaker and peak performance expert, Dr. Delatorro McNeal II, this event is set to transform your speaking abilities like never before. Hosted at the prestigious Renaissance Tampa International Plaza Hotel, from August 28th-30th, 2023, Crush The Stage is your exclusive opportunity to learn directly from Dr. Delatorro McNeal II, a hall of fame speaker who has captivated audiences worldwide. With his wealth of knowledge and experience, Dr. Delatorro is the creator behind this exceptional program that aims to revolutionize your approach to public speaking. Seating for this deep dive training is extremely limited, so securing your spot at Crush The Stage is crucial. By attending this masterclass, you’ll have the unique chance to immerse yourself in a transformative learning experience under the guidance of one of the industry’s most esteemed experts. Throughout the three days, Dr. Delatorro McNeal II will guide you through hands-on exercises and provide invaluable insights on how to become an expert-level communicator. From crafting compelling narratives to mastering body language, you’ll learn the critical elements that make a presentation truly impactful. Dr. Delatorro’s proven techniques will empower you to engage your audience, leaving a lasting impression with your words. Not only will you receive world-class training, but Crush The Stage also offers a truly immersive environment where you can connect with like-minded individuals. Seize invaluable networking opportunities, exchanging ideas, and forming important alliances that can supercharge your career in public speaking. Don’t miss this exclusive chance to learn from the best in the business. Register now for Crush The Stage at crushthestage.com and secure your seat at this game-changing event. Given the limited availability, early registration is strongly advised to guarantee your spot in this transformative masterclass. Invest in yourself and join Dr. Delatorro McNeal II at Crush The Stage in Tampa from August 28th-30th, 2023. Witness firsthand the incredible transformation that occurs when you harness the power of expert-level presentation skills. Note: This article is brought to you by Tampa Bay Connects publication, providing valuable insights and updates on local happenings to the residents of Tampa Bay. TBC Onlinetampabayconnects.com

Fail Forward: Embracing Failure as the Gateway to Success

- August 19, 2023

In the pursuit of success, our society often focuses solely on achievements, overlooking the valuable lessons that can be learned from failure. However, embracing failure as a steppingstone to success is a mindset that leads to personal and professional growth. To celebrate Hispanic Heritage Month, Tampa Bay Latin Chamber, in collaboration with the Entrepreneur Collaborative Center, proudly presents Fail Forward—an inspiring bi-monthly program dedicated to empowering our community by transforming setbacks into growth opportunities. Join us an engaging panel discussion that encourages us to embrace our failures and learn from them. Event Details:  Date and Time: Thursday, September 14, from 9:00 am to 11:00 am EDT. Location: Entrepreneur Collaborative Center, 2101 East Palm Avenue, Tampa, FL 33605. Agenda: – Meet and Greet: 9:00 am – Panel Discussion: 9:30 am – 10:30 am – Networking: 10:30 am – 11:00 am Event Highlights: Fail Forward aims to inspire and motivate individuals by sharing stories of resilience, perseverance, and overcoming challenges. The panel discussion will feature accomplished entrepreneurs and industry leaders who have experienced setbacks and failures in their journey to success. The speakers will share their personal experiences, offer insights, and discuss strategies on how to turn failures into opportunities for growth. To make your experience even more memorable, enjoy freshly brewed coffee throughout the event, courtesy of Creative Mixology’s talented barista. Networking opportunities will also be available to encourage interactions and the exchange of ideas among attendees. Registration and Ticket Information: Given the limited seating availability, registration is both essential and complimentary. To secure your spot, visit the Eventbrite page and reserve your tickets by following this link: Join us for Fail Forward—a one-of-a-kind panel discussion that will redefine the way we perceive failure. Through inspiring stories of resilience and determination, we will learn that failure is not the end, but a steppingstone towards a more successful future. Don’t miss this opportunity to gain valuable insights from successful entrepreneurs and community leaders in Tampa Bay. Register now to secure your spot and be inspired to embrace your failures as catalysts for growth. TBC Onlinetampabayconnects.com

Rooftop Networking Afterhours Social at the Current Hotel

- August 18, 2023

The recent Rooftop Networking Afterhours social event at the Current Hotel was a night to remember, as over 150 attendees graced the gathering and made it a remarkable success. While the event had to be moved indoors due to unforeseen rain, the charming atmosphere and essential air conditioning ensured an enjoyable evening for all. The highlight of the night was the announcement that the well-loved Rox Cafe would be closing its doors, making way for an exciting new Mexican style Bistro. This news added a bittersweet element to the event, as attendees reminisced about the memories made at Rox Cafe and excitedly anticipated the new dining experience in the coming year. Despite the change in venue, the energy and enthusiasm at the social were unwavering. The networking opportunities were plentiful, with professionals from various industries coming together under one roof. Conversations flowed freely, and connections were fostered, making this event a true networking success. The intimate setting provided an ideal platform for attendees to engage with each other, exchanging business cards, ideas, and perhaps even future collaborations. The sense of camaraderie was palpable, as professionals took advantage of the chance to expand their networks and create meaningful connections. The Current Hotel’s rooftop proved to be an extraordinary location for this social gathering. Although the weather didn’t cooperate, the indoor setting allowed everyone to appreciate the stunning views and unique ambiance. The spacious area created an atmosphere that encouraged lively discussions and interactions throughout the night. As the evening came to a close, there was a collective sentiment of excitement and anticipation for the next event. With the success of this Rooftop Networking After hours social, attendees were eager to reconvene for future opportunities to connect and grow their professional networks. In summary, the Rooftop Networking Afterhours social at the Current Hotel was a resounding success, despite the shift in venue due to the rain. With over 125 attendees, the event brought professionals together under one roof for a night of networking and connections. As the popular Rox Cafe prepares to close its doors, attendees looked forward to the upcoming Mexican style Bistro and eagerly anticipated future events at the Current Hotel. Until then, attendees departed with lasting connections and a memorable evening that affirmed the power of networking in the professional world. Tampa Bay is where it’s at!  TBC Onlinetampabayconnects.com

Gaston’s Culinary Services Ribbon Cutting Ceremony Highlights Tampa Chamber’s Support

- August 17, 2023

Tampa Bay recently enjoyed an exquisite culinary experience at the ribbon cutting ceremony of Gaston’s Culinary Services, led by renowned chef Gaston D Meredith. Hosted by the Tampa Chamber, with its president Brian Butler delivering opening remarks and blessings on behalf of the entire Tampa Bay chamber, the event celebrated the culinary excellence of Chef Gaston in a charming and intimate setting. The invite-only event, held at 301 South 22nd Street, Tampa, FL, welcomed esteemed guests, including local food enthusiasts and industry professionals. Gaston’s Culinary Services delighted attendees with a carefully curated menu featuring delectable hors d’oeuvres complemented by a selection of fine drinks & wines. Each dish showcased Chef Gaston’s innovative flair and culinary expertise. Acknowledging the significance of the occasion, Brian Butler, president of the Tampa Chamber, delivered opening remarks, acknowledging Chef Gaston’s exceptional talent and culinary achievements. He reiterated the importance of supporting local businesses and fostering a thriving culinary scene in Tampa Bay. Brian Butler’s presence added an element of honor and prestige to the celebration. The ribbon cutting ceremony at Gaston’s Culinary Services served as a memorable milestone, marking the beginning of an exciting culinary journey for this innovative, local establishment. Chef Gaston’s culinary creations, coupled with the support of the Tampa Chamber, have laid the foundation for a thriving culinary scene in Tampa Bay. In summary, the ribbon-cutting ceremony at Gaston’s Culinary Services, supported by the Tampa Chamber was an exceptional celebration of culinary excellence. This event highlighted Chef Gaston’s expertise and set the stage for an exciting culinary journey through innovative flavors and delectable creations. Tampa Bay continues to flourish as a culinary destination, thanks to the talented chefs and the support of local organizations like the Tampa Chamber. Gaston’s Culinary Services is more than just a catering company; it represents Chef Gaston’s commitment to sharing his culinary expertise with the world. As the invitees eagerly anticipates the ribbon-cutting ceremony, the entire city can prepare to embark on a culinary journey like no other. Gaston’s Culinary Services promises to leave a lasting impression on taste buds and hearts of the special VIPS, and the entire city for years to come.  This event ensures an unforgettable evening of exceptional food, delightful company, and a celebration of the artistry that is Chef Gaston D. Meredith signature.  TBC Onlinetampabayconnects.com

Bridgette Bello: A Trailblazing CEO Set to Inspire at Tampa Business Club

- August 16, 2023

The Tampa Business Club is thrilled to announce its newest speaker, Bridgette Bello, the CEO of Tampa Bay Business & Wealth magazine. With over 30 years of experience in the media industry, Bridgette Bello has shattered glass ceilings and is recognized as a prominent figure in leadership. Her expertise in creating powerhouse brands in today’s marketplace, particularly focusing on women in leadership, promises to provide valuable insights to attendees. Bridgette Bello’s remarkable journey in the media industry sets her apart as a trailblazer. For 11 years, she served as the president and publisher of the Tampa Bay Business Journal, becoming the first woman publisher in its 40-year history. Her extensive experience spans across various aspects of the media business, including writing for a daily newspaper, media buying for ad agencies, and successfully leading sales departments and award-winning news teams. Bridgette Bello’s impact is further emphasized through her role as CEO and Publisher of Tampa Bay Business & Wealth (TBBW) magazine. In its inaugural year, TBBW was honored with two Charlie Awards by the Florida Magazine Association. Notably, in 2022, the magazine added two more Charlie Awards to its impressive collection. The recognition from industry professionals highlights Bridgette’s ability to create and curate insightful content for the business community. Bridgette Bello’s dedication to serving her community extends beyond her professional achievements. She has made significant contributions as a Governor Appointed Vice Chair for St. Petersburg College’s board of trustees for eight years. Additionally, she has served as a Board of Directors emeritus for The Spring of Tampa Bay, chair of the American Diabetes Association Step Out Walk to stop diabetes, and a member of CEO’S Against Cancer, Florida Chapter. Bridgette’s involvement in nonprofit organizations is equally inspiring. She chaired the Alzheimer’s Association gala for 2020-2021, served on the board of directors for CEO Council, and acted as an advisory board member for Bigfoot Reduction – a private company. Bridgette has also been a member of the Project Opioid Tampa Bay Coalition and has played an active role in various nonprofit board committees, including chairing the Man and Woman of the Year and Light the Night recruitment committees. Bridgette Bello’s accomplishments have not gone unnoticed. She was honored as the St. Petersburg Chamber’s “Business Woman of the Year” in 2011 and received the Best Moms of the Bay award in 2012. Alongside her successful career, Bridgette cherishes her role as a mother to three accomplished children. Bridgette Bello’s journey as a media professional, her leadership roles, and her commitment to community service make her a remarkable individual. As she takes the stage at the Tampa Business Club’s panel on women in leadership, attendees can anticipate an insightful discussion on creating powerhouse brands in today’s marketplace. Bridgette’s wealth of experience and achievements serve as an inspiration to aspiring leaders, particularly women seeking to make a difference in their respective industries. TBC Onlinetampabayconnects.com

Wawa Expands its Presence in Florida with New Drive-Thru Restaurant in Largo

- August 15, 2023

Wawa, the beloved convenience store famous for its hoagies and coffee, is set to delight its customers in Florida with the introduction of a new drive-thru restaurant. Located in Largo, a suburban city in the Tampa Bay area, this innovative concept aims to offer food and beverages for those on the go. With its sights set on a rapid expansion, Wawa plans to strengthen its position as more than just a convenience store, particularly with the success of its drive-thru locations during the pandemic. Largo recently granted Wawa approval to repurpose an old KFC establishment into an exciting and convenient drive-thru location. This move signifies Wawa’s commitment to providing enhanced convenience and delicious offerings to its customers in the Tampa Bay area. Unlike traditional Wawa stores, the Largo location will not feature gas pumps. Instead, the emphasis will be on delivering high-quality food and drinks to customers. In line with the company’s mission to elevate its restaurant bona fides, Wawa launched a dinner menu in 2020, offering a range of delectable items such as burgers and pasta. The response to the drive-thru burger has been exceptional, further solidifying Wawa’s commitment to culinary excellence. Wawa initially introduced drive-thru locations as a response to the limitations imposed by the pandemic. However, what the company has discovered is that customers have embraced the concept with open arms, even as COVID-19 restrictions ease. The drive-thru prototype has proven to be incredibly popular, demonstrating the brand’s ability to adapt and cater to evolving customer needs. Wawa remains dedicated to continuously improving its drive-thru experience and is eagerly seeking feedback from its valued customers and associates. Wawa has set an ambitious goal of reaching 1,800 stores by the end of the decade. This expansion is part of its commitment to becoming more than just a convenience store, positioning itself as a go-to destination for high-quality, quick-service food options. With each new location, Wawa further solidifies its presence as a beloved brand in Florida and beyond. The launch of Wawa’s new drive-thru restaurant in Largo marks an exciting milestone for the company and its loyal customers. By focusing on its food and beverage offerings and refining the drive-thru experience, Wawa is meeting the needs of busy individuals seeking convenience without compromising on taste and quality. As this popular convenience store continues to expand, Florida residents can anticipate more opportunities to indulge in Wawa’s delectable hoagies and other culinary delights. TBC Onlinetampabayconnects.com