Latest news with #Browne
Irish Independent
2 days ago
- Business
- Irish Independent
Housing Minister confirms 106 social houses planned for Wicklow won't be delivered
A Public-Private Partnership project was set to deliver the homes with a total of 486 due to be constructed at sites in Blessington, Dublin, Kildare and Sligo. Despite calls from local elected representatives to reverse the decision in recent weeks, following a review of the costs associated, the Department of Housing, Local Government and Heritage has decided not to proceed with the contract award on a value for money basis. In response to a parliamentary question from Wicklow TD John Brady, Mr Browne indicated the overall costs of the Bundle 3 project were considered too high. 'All sites within the Bundle 3 project have full planning permission and all of them will be delivered by way of alternative procurement and delivery strategies.' he added. A meeting of the Public Accounts Committee last month heard only a contract had been signed with the preferred tender who carry out site investigations. The contract to build the units is a separate process. That requires approval from the Department, which has since announced it will not proceed.
Miami Herald
5 days ago
- Business
- Miami Herald
Stocks and Markets Podcast: Why Now is the Time to Buy High-Yielding Small-Cap Stocks
This article is based on TheStreet's Stock & Markets Podcast. Hosted by the veteran Wall Street investor Chris Versace, the weekly podcasts are available early to members of TheStreetPro investing club. York Water (YORW) has been going with the flow for more than 200 years. The company, founded in 1816, is the oldest investor-owned utility in the U.S. and the first to pay investors consecutive dividends. Don't miss the move: Subscribe to TheStreet's free daily newsletter Founded by a group of York, Pa., businessmen who were concerned about fire protection, York Water Co. was a focus of the July 9 edition of TheStreet Stocks & Markets Podcast. Chris Versace, lead manager of TheStreet Pro's Portfolio, and TheStreet Pro's Louis Llanes, senior vice president and wealth adviser at Farther Financial, spoke with Thomas Browne, a portfolio manager of small-cap and midcap stock funds at Gabelli. The key focus of the discussion: small-capitalization stocks and dividends. Small-cap stocks represent companies with market capitalizations typically ranging between $250 million and $2 billion. Due to limited analyst coverage and fewer institutional investors who buy small-cap stocks, these equities may be less efficiently priced. Saxo Bank Group says that "provides an opportunity for savvy investors to identify undervalued stocks that could grow significantly once the broader market recognizes their potential." "It's fun to talk about small-cap stocks, although sometimes I feel like we're the only people who are talking about small-cap stocks," Browne said. "It's been a long time since there was a lot of attention paid to them. But I think that we're going to have our day and it's coming soon." More Economic Analysis: Federal Reserve prepares strong message on long-term interest ratesMassive city workers union approves strikeAnalyst makes bold call on stocks, bonds, and gold "So now what makes you think that?" Versace asked. "But of late there seems to be a lot of focus not even on large-cap stocks, really on these megastocks that have been driving the S&P 500 [and] the Nasdaq. But what gives you hope that these other strategies will come back into favor?" "I think that if you look over the long term - it is more than the last year or two, or five or even 10 - small-cap stocks have outperformed," Browne said, noting that the S&P 500 trades at around 23 times earnings, while small-cap and midcap stocks trade around 16 or 17 times earnings. "So you've got one group of stocks that is very highly valued well above the long-term averages, and another group of stocks that is valued significantly below their long-term averages," he said. "So it seems to me like over time - and it's not going to be this quarter; it may not be this year; it may not be the next two years - that has to come back to the averages." "The real issue is the expectations of growth," Llanes said. "We even have almost negative expectations of growth in the small-cap stocks. We have a huge divergence between the expectations." "And there's a lot of divergence in the small-cap area between high-quality companies and low-quality companies," he added. "And selectivity is important. But it just seems a little out of whack to me - or a lot out of whack to me." Browne said that few people look at the dividends in small-cap companies, despite groups like York Water or American States Water (AWR) , which at 70 years has the longest history of raising its dividend consecutively. Related: Fund manager panel raises eyebrows with market forecasts "If you look at the Russell 2000, it actually yields more than the S&P 500 today," he said. "So, despite all these really positive attributes, people don't look at dividends, generally speaking, in small- and midcap stocks." Llanes said that he thought the markets were going to go through "a digestion period of the new tax rules and how that's going to impact things. "And foreign policy is really affecting a lot of things for a lot of investors, whether it be in the private markets or in the public markets." With the Trump administration's tariff policy aimed at reshoring manufacturing back to the U.S., Llanes asked Browne whether he saw any increases in industrialization investment in the U.S. "In spots," he said. "You are seeing big companies announce projects here in the United States. And we have investments in some companies that are in the construction business who will help those companies build new factories in order to produce in the United States." "You've also seen a lot of talk about data-center buildouts, and that's going to require power," Browne added. "That's going to mean construction of power plants. And so companies that are involved in building those factories and those data centers and the electricity sources to power them - [there's] clearly a good outlook for those." Versace asked Browne to discuss some of the prominent holdings in the funds he manages. Here are some of the points he made: Molson Coors (TAP) "has been through a multiyear restructuring where they've significantly improved the profitability. ... [If] you look at the valuation of Molson Coors relative to other brewers, [there's a] huge discount that eventually we think has to close in some form or fashion." Gen Digital (Norton LifeLock) GEN "has made some good acquisitions over the last couple of years to really consolidate the personal online protection market. And so they have a strong position there. It's not a fast-growing business. It's low- to mid-single-digits, hugely profitable and trades at a really cheap price." Ensign Group (ENSG) "is probably the best-run of the skilled nursing facility companies, ... and their focus is on skilled nursing as opposed to assisted living. That's an area that due to an aging population is going to continue to grow." Wintrust (WTFC) "is a bank here in Chicago who is another very good acquirer and runs the business very well. Great on credit. Really good at making loans. And it trades at 10 [or] 11 times earnings." Related: Veteran fund manager who forecast S&P 500 crash unveils surprising update The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Irish Independent
5 days ago
- General
- Irish Independent
Dublin woman collects over 150 gel wrappers while training for Cork marathon
Meaghan Browne (33), who lives on Dorset Street, began picking up the small plastic packets in March while running regular long-distance routes through the Phoenix Park and along the Royal Canal in her training for Cork City Marathon. Over the course of three months, Ms Browne says she collected 153 empty wrappers — 144 from the Phoenix Park and nine from the along canal — documenting the numbers to demonstrate just how widespread the problem has become. She had previously completed one marathon and several half-marathons and said the issue became unavoidable once she began increasing the distance and frequency of her runs.
Irish Post
6 days ago
- Irish Post
Ireland seeks to increase number of world heritage sites over next decade
THE Irish government has set out its plans to increase the number of world heritage sites recognised within the country over the next ten years. In a new World Heritage Strategy, released today, the government has outlined its ambition to increase the number of UNESCO sites within the country. 'We are so fortunate in Ireland to be known globally for our rich natural and cultural heritage and our iconic sites such as Sceilg Mhichíl and Brú na Bóinne have achieved worldwide recognition as World Heritage Sites,' Minister for Heritage, James Browne said as he launched Ireland's Strategy for World Heritage in Ireland 2025-2035 in Paris today. 'This Strategy foremost shows that we have ambition to expand the number of World Heritage sites in Ireland and to match that expansion with resources to protect and manage these nationally and globally significant sites,' he added. Sceilg Mhicíl/Skellig Michael is one of Ireland's two existing UNESCO World Heritage sites (Pic: National Monuments Service) 'In doing so we aim to bring economic benefits to the regions, by creating opportunities for investment in visitor services, in conservation work and in growing a sustainable local tourist economy.' The Minister claims an increase in World Heritage sites will generate increased global recognition for Ireland's unique heritage but also bring 'transformational social and economic dividend s' for the associated regions. Ireland currently has two World Heritage Properties: Brú na Bóinne in Co. Meath, which was added to the UNESCO list in 1993, and Sceilg Mhichíl in Co. Kerry which was added in 1996. Ireland's current 'Tentative List of potential World Heritage Properties' was last updated in April of this year. It includes The Passage Tomb Landscape in Co. Sligo and the Transatlantic Cable Ensemble, which is a transnational application between Valencia in Co. Kerry and Newfoundland in Canada. The Royal Sites of Ireland, including Dún Ailinne, in Kildare; the Hill of Uisneach in Westmeath; the Rock of Cashel in Tipperary and Rathcroghan in Roscommon; and the Hill of Tara in Meath, is a potential all island application, which is due to also include Navan Fort in Armagh. The Historic Astronomical Observatories of Ireland, including Birr Castle in Offaly and Dunsink Observatory in Dublin) is another potential all island application, due to include Armagh Observatory. 'The Strategy commits to undertake an extensive review of Ireland's Tentative List by 2035, ensuring other sites have an opportunity to be added to the List,' Minister Browne's department confirmed. It was also confirmed today that the Government has agreed to proceed to ratify the UNESCO Convention on Underwater Cultural Heritage, which aims to prevent loss of underwater cultural heritage. See More: Ireland, UNESCO, World Heritage Sites
Irish Independent
09-07-2025
- Business
- Irish Independent
Planning refused for 17 new social homes in Wicklow
In January 2025, the department received a Capital Assistance Scheme (CAS) application from Wicklow County Council on behalf of Tuath AHB for the development of 17 units at Parnell Court. The CAS is designed to assist organisations, particularly Approved Housing Bodies (AHBs), in providing accommodation for those most in need of housing. The scheme is part of broader efforts to address housing needs across the country and has a particular focus on vulnerable members of the population. Following a parliamentary question from the Social Democrats, Housing Minister James Browne confirmed he had communicated with Wicklow County Council in May to inform them that they were unable to approve the proposed development. The high costs of the proposed design and specification not representing value for money were cited as the main reasons for the refusal. Minister Browne indicated there are some issues that need to be addressed. 'My Department has requested both Tuath AHB and Wicklow County Council to work within design, specification and cost expectations and to actively address concerns raised and remain available to engage with Tuath AHB and Wicklow County Council in respect of the site.' he added.
