Starting a home-building company during a recession and housing market meltdown might seem like a bad idea.
But not to three longtime executives at William Lyon Homes of Newport Beach. TRI Pointe Homes Inc. was the result.
"When you are going to start something new, you'd rather start at the bottom than the top, right?" said Douglas F. Bauer, one of the Irvine company's founders and its chief executive since the May 2009 beginning. "You really have only one way to go, and that's up."
Bauer was joined by TRI Pointe co-founders Thomas J. Mitchell, who serves as president and chief operating officer, and Michael D. Grubbs, who is the company's chief...