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San Francisco Chronicle
2 days ago
- Business
- San Francisco Chronicle
S.F.'s budget woes could kill programs that help the city's most at-risk tenants
Long regarded as a critical supplement to the work done by city building inspectors, two community-based code enforcement outreach programs that target some of the city's most at-risk tenants could soon cease to exist as San Francisco's Department of Building Inspection looks to trim costs. Emails sent to about half a dozen local housing nonprofits on Monday informed them that the decades-old Code Enforcement Outreach Program, or CEOP, is facing complete erasure due to the city's budget woes. Among the supports offered by the nonprofits that receive funding through CEOP and the SRO Collaborative program, another DBI-administered initiative focused on residents of low-income single-room occupancy hotels (SROs) that's also at risk, are multilingual outreach, housing counseling and disaster preparedness services. In the past, the programs have united advocates representing landlords and tenants. And yet, both are on the chopping block under DBI's proposed two-year budget plan, which suggests cutting the department's annual $4.8 million allocation for the programs as Mayor Daniel Lurie seeks to eliminate $185 million in grant and contract spending in order to close a looming $800 million two-year city budget shortfall. 'We greatly value and respect the work we've done together, but any grant is dependent on having sufficient funding in our budget. As such, we are invoking the termination stipulation in Section 2.3,' a DBI representative said in the emails sent to nonprofit leaders on Monday, which the Chronicle obtained. The Chinatown Community Development Center, or CCDC, the Tenderloin Housing Clinic, the San Francisco Apartment Association, Dolores Street Services and the Housing Rights Committee, are among the groups that will be impacted by the programs' elimination. Monday felt like 'groundhog day' to service providers who, for the second time in two years, were told that the programs would be defunded. They pushed back against cuts planned by DBI in 2023 under then-Mayor London Breed, and were successful in getting the funding reinstated. Those interviewed by the Chronicle Tuesday said they were blindsided by the news, given that DBI's own commission recommended keeping the programs in place and fully funded earlier this year. 'We were shocked in 2023 and we are shocked this year, mainly because around February we were advocating at the commission as we were expecting about a 25% cut in total,' said Lisa Yu, a policy analyst with CCDC, a local affordable housing developer. 'Everything is in jeopardy.' DBI requested that the recipients of the code enforcement outreach grants 'plan for an end date for your services' on June 30. The move will impact an estimated 15 outreach workers across the list of nonprofits that are funding through the grants, the Chronicle has learned. 'The mayor talked about cutting some nonprofit contracts that emerged during COVID. But CEOP started in 1996. The collaboratives have been here for more than 25 years. These are programs that no one's ever had a negative word to say about,' said Randy Shaw, director of the Tenderloin Housing Clinic, a low-income tenant advocacy organization that stands to lose roughly $900,000 for its Central City SRO Collaborative program and CEOP. The funding cuts appear to thwart recommendations made by DBI's Building Inspection Commission, which penned a letter to the city's Board of Supervisors in March requesting that the code enforcement outreach grants be fully funded. That letter, obtained by the Chronicle, suggested that Lurie and the Board use general fund dollars to continue to support the programs, and that DBI could increase the inspection fees it charges across the board by 1.5% to 'compensate for the proposed General Fund reductions in support.' 'These providers go to the tenants as well as take complaints. Reduction in outreach services will not mean a reduction in need, it will mean more tenants leave inhabitable apartments and end up homeless or people will suffer health conditions as a result of uninhabitable housing,' the commission warned in its letter. Neither DBI nor Lurie's office immediately responded to the Chronicle's inquiries for comment on the programs' planned elimination. Last week, Lurie unveiled his $15.9 million budget proposal, which he said prioritizes the city's core services, including clean street and public safety. Declaring an end to what he described as the ' era of soaring city budgets,' his plan includes slashing 1,400 city jobs. The proposed cuts come as the city's revenues remain impacted by high commercial vacancy rates and sluggish tourism downtown. CEOP and the SRO Collaborative program were previously placed in jeopardy under former Mayor London Breed, who sought to patch a growing budget deficit in 2023 by ordering city departments to trim their budgets. The funding was ultimately restored, though the total allocation for the programs was reduced by 10%, according to Yu, of CCDC. She said that the nonprofit providers expected another 15% funding cut for the outreach programs. 'We're all really confused on what happened, because we weren't expecting a 100% funding cut when the issue was presented to the Commission in February,' Yu said. CEOP has received about $1.7 million from the total grant allocation, while the SRO program received about $3.8 million. The nonprofits that have historically received the funding are operating on five-year contracts that are due to expire next June. Yu said that CCDC runs the SRO Collaborative, for which it receives about $1.5 million in annual funding. It also receives about $272,500 for CEOP. 'We have housing counseling, and we provide fire prevention workshops. For home visits alone, we visit about 43 SROs in Chinatown with about 80 SRO families total,' Yu said, adding that the nonprofit assists about 86 clients per quarter with housing counseling services. 'About 183 tenants attended our fire and disaster preparedness workshops per quarter,' she said. About 16% of the Housing Rights Committee's total budget, or $617,000, comes from the DBI grant, according to the nonprofit's executive director, Maria Zamudio. HRC has long provided housing counseling and advocates for tenants rights in San Francisco. 'We provide language access to tenants who are not going to be able to just connect directly with a building inspector, or are not able to navigate the DBI website. We also ensure that there is support for (U.S. Department of Housing and Urban Development) tenants, who have some of the most egregious habitability conditions in the city,' Zamudio said. 'In this political moment, with all of the attacks on immigrants and all of the attacks on HUD funding at the federal level, to feel those attacks locally and in a way that doesn't need to happen … really shows where the priorities for this new administration are,' she said. Tenant advocacy organizations aren't the only ones impacted by the proposed cuts. The San Francisco Apartment Association advocates for property owners on a 'shoestring budget,' according to spokesperson Charley Goss. The organization faces a funding reduction of close to $150,000 if the code enforcement outreach programs are cut. 'There are difficult decisions that have to be made with regard to the budget. But, from our perspective, these are maybe the only programs where you have tenant groups and landlord groups working together for a common goal, which is to improve living conditions in apartment buildings,' Goss said. 'We've seen firsthand that the programs work … and we believe they also save the city money. We have nonprofits doing the work to get buildings up to code, which saves the city money via their inspectors. The inspectors don't have to do that work.'
Irish Post
28-05-2025
- Business
- Irish Post
Digital commerce body urges government to provide greater support to help Irish SMEs adopt new AI tech
A NATIONAL representative body for the e-commerce, digital and tech sectors in Ireland has called on the government to provide greater support for Irish Small and Medium Enterprises (SMEs) to adopt new AI technology. Digital Business Ireland (DBI) has proposed an allowance that would cover the first year of a business' costs for deploying AI tech. The organisation has also called for the current digital grant scheme for SMEs to be overhauled after claiming less than €30,000 has been allocated from a budget of more €5m since last September. "Digital Business Ireland believes the government can do much more to help Irish businesses accelerate their digital transition and adoption of AI," said DBI national spokesperson DP Fitzgerald. "However, existing supports simply do not go far enough." Invest in tech and training The proposals, aimed at accelerating the digital transition and the adoption of AI in Ireland, form part of DBI's pre-Budget submission for 2026. The organisation has recommended an Accelerated Capital Allowance (ACA) for AI technologies that would cover 100 per cent of a business' AI costs in the first year of deployment of such systems. It suggests the scheme could mirror the existing ACA for green technology and would incentivise Irish businesses to adopt new AI tech to drive greater efficiencies. DBI also believes that the current digital grant scheme for SMEs is insufficient, with the GrowDigital Voucher only offering grant support up to €5,000. It says that in a recent Parliamentary Question, the Department of Enterprise confirmed that the voucher had only 13 applications and six approvals since its launch in September 2024. This amounted to €28,296.50 being given out from a budget of more than €5m allocated at the inception of the scheme. Meanwhile, DBI has called for Increased investment in skills and training courses to further support AI development. It has proposed a minimum of 500 places be designated specifically for AI training courses such as Springboard+, which only had 55 places on offer for AI courses last year. The fourth and final proposal in DBI's submission is the allocation of funding for enhanced advisory and support services for businesses to ensure compliance with digital regulation. Proposals will increase productivity "Our pre-budget submission proposes tangible and constructive measures to support government's ambition to realise the full benefits of digitalisation, including AI," added Mr Fitzgerald. "This in turn will increase the productivity of Irish businesses, and ensure their strategic focus is where it needs to be. "Our proposals are aimed at turbo-charging digital transition and adoption of AI among SMEs — businesses that are the backbone of the Irish economy." Two weeks ago, Deloitte Ireland also proposed a tax credit for businesses investing in AI and digitalisation in its pre-budget submission. The firm said it would apply to expenditure related to the reliably safe development, implementation and use of AI and digitalisation. See More: Digital Business Ireland
RTÉ News
27-05-2025
- Business
- RTÉ News
Irish tech businesses call for AI allowance
The Government is being urged to introduce an Accelerated Capital Allowance (ACA) for businesses to cover the cost of Artificial Intelligence (AI) technologies. Digital Business Ireland (DBI), the national representative body for the e-commerce, digital and tech sectors in Ireland, said the new allowance would cover 100% of costs in the first year of deployment of AI technologies, and the scheme could mirror the existing ACA for green technology. DBI said the allowance would incentivise Irish businesses to adopt new AI technologies to drive greater efficiencies, while facilitating the exploration of new international markets for their products, goods and services. In its pre-Budget submission, DBI is also calling for increased investment in skills and training courses, and funding for enhanced advisory and support services for businesses to ensure compliance with digital regulation. The submission warns that the EU regulatory environment in the digital space can be a 'minefield for businesses' and urges the Government to invest in advisory support to help businesses achieve compliance. In addition, the group is urging the Government to reform the Grown Digital Voucher schemes by introducing a tiered system of grant support for digital transition and adoption of AI by Irish SMEs. According to DBI, in a recent parliamentary question, the Department of Enterprise confirmed that the voucher had only 13 applications and six approvals since its launch in September 2024, which meant that €28,296.50 was given out from a budget of over €5 million allocated at the inception of the scheme. "Digital Business Ireland believes the Government can do much more to help Irish businesses accelerate their digital transition and adoption of AI. However, existing supports simply do not go far enough," said DBI National Spokesperson DP Fitzgerald. "Our pre-budget submission proposes tangible and constructive measures to support the Government's ambition to realise the full benefits of digitalisation, including AI," Mr Fitzgerald said.
Agriland
20-05-2025
- Business
- Agriland
Hereford bulls sell to top price of €6,100 at Nenagh sale
The Irish Hereford Breed Society hosted its annual pedigree show and sale at Central Auctions, Nenagh, Co. Tipperary, on Thursday, May 15. With only 21 bulls present on the day, the society attributed this to 'a great series of spring bull sales for the Irish Hereford Breed Society and good trade for bulls at home'. The average price of the sale was €3,935 – up from the 2024 average of €3,000 and there was a clearance of 95%, with 20 out of 21 bulls finding new homes. A total of 10 bulls in the sale traded for €4,000 or more, four of which sold for €5,000 and above. The show started off with Mr. Cathal Flynn judging, ably assisted by Next-Gen member John O'Dwyer who will be representing Team Ireland at the World Hereford Conference in Kansas City this October. Cathal runs the Rossmore and Priestfield Hereford herds in Co. Monaghan. Cathal's choice of Champion was Ballinalick Mojo PP from the local, Co. Tipperary herd of William Duff. Mojo went on to sell for the top price of the sale at €6,100 to a farmer in Co. Tipperary. Mojo comes with a good set of stars. This homozygous polled bull has five stars for the Replacement Index (€129) and four stars for the Terminal (€68) and Dairy Beef (€104) Indexes as well as the Beef Sub-Index (€92). He is sired by Fisher 1 Profile and out of Panmure 1 Henry daughter, Gouldingpoll 1 Kashmir 825. Flynn's choice of Reserve Champion came in the form of homozygous horned bull, Springvilla Milo 1186 HH, from the Co. Cork herd of Yvonne and Robert Roycroft. Reserve Champion: Springvilla Milo 1186 HH Milo is sired by Corlismore Dynamite 993 and bred from a Knockmountagh Super 2 sired dam, Springvillapoll 1 Rosabel 727. Milo also comes with strong figures including five stars for the DBI (€109) and four stars for the Terminal Index (€73) and Beef Sub-Index of the DBI (€90). He has below average calving difficulty at only 3.2% on dairy cows and 1.2 % on beef cows. Milo went on to sell for €5,000. The second-highest price of the sale was €5,400, goes to Rathnollag Dancer 73 HH, of Siobhan Conry's Co. Roscommon herd. Rathnollag Dancer 73 HH with breeder Siobhan Conry Dancer again has great figures, with five stars for both the Replacement (€119) and Dairy Beef (€117) Indexes and four stars for the Terminal Index and Beef Sub-Index. Dancer an easy calving bull (2.8% for dairy cows and 1.9% for beef cows) that is sired by Pulham Powerhouse and out of Kye Katecand, a Free Town Hotspur daughter. One more bull crossed the €5,000 mark, with Pat Lynch of Co. Clare selling Rossdelia poll 1 Bundee PH for €5,100. Again, this bull had plenty of figures behind him, with five stars for each of the Replacement (€122) and Terminal (€95) Indexes as well as the Beef Sub-index (€106) of the DBI and for Docility and Carcass Weight (+10.8kg). Bundee is sired by Solpoll 1 Lawman and is out of a Kilsunny Goliath daughter, Coisceim Imogen. Tullaha Iron Man HH Shiloh-Farm Jagger PH pictured with: Breeder Sarah Murray; judge Cathal Flynn; Tennyson Egar, Irish Hereford Prime and John O'Dwyer Tony Hartnett from Co. Cork sold his bull, Riverrock Wild Fire HH for €4,800. Wild Fire has four stars for both the Replacement (€109) and Terminal (€74) Indexes as well as five stars for the Beef Sub-Index of the DBI (€92) and for Docility. He is sired by Grianan Wildfire and out of Riverrock Naughty Bea 044 ET, a Haven Kingpin daughter. A total of five bulls sold for €4,000 during the sale including: Lot 2, Appel 1 Max from John Appelbe's Co. Cork herd. Max is sired by Panmure 1 Nugget and out of Appel 1 Molly 11; from John Appelbe's Co. Cork herd. Max is sired by Panmure 1 Nugget and out of Appel 1 Molly 11; Lot 4, Shiloh-Farm Jagger PH from Sarah and Hugh Murray's Co. Westmeath herd. Jagger is sired by Intelagri 1 Gold Rush ET and out of Shiloh-Farm Gucci. Jagger was the first-prize winner in Class 1; from Sarah and Hugh Murray's Co. Westmeath herd. Jagger is sired by Intelagri 1 Gold Rush ET and out of Shiloh-Farm Gucci. Jagger was the first-prize winner in Class 1; Lot 23, Trillick Sailer HH from JJ Farrell's Co. Longford herd. Sailer is sired by Balleen Sterling and is out of Trillick Lass 3; from JJ Farrell's Co. Longford herd. Sailer is sired by Balleen Sterling and is out of Trillick Lass 3; Lot 24, Gallaway Lang HH from Michael Kiernan's Co. Leitrim herd. Lang is sired by Conmelvin Ollie and out of Gallawaypoll 1 Michelle; from Michael Kiernan's Co. Leitrim herd. Lang is sired by Conmelvin Ollie and out of Gallawaypoll 1 Michelle; Lot 32 Tullaha Iron Man HH from Maura Neenan's Co. Limerick Herd. Iron Man is sired by Haven Kingpin and out of Tullaha Lily 380. He was the first-prize winner in Class 4. The society expressed its thanks to the pre-sale inspector Tommy Fitzgerald, the show judge, Cathal Flynn and Next Gen judge John O'Dwyer, as well as sale auctioneer, Eamonn Gaffney and Central Auctions Nenagh. The society also acknowledged Irish Hereford Prime for its' continued support and sponsorship.
Yahoo
14-05-2025
- Business
- Yahoo
Designer Brands Inc. (DBI): One of the Underperforming Stocks Targeted By Short Sellers
We recently published a list of . In this article, we are going to take a look at where Designer Brands Inc. (NYSE:DBI) stands against other underperforming stocks targeted by short sellers. Short interest refers to the percentage of publicly available shares that have been sold short. It is an indicator used by many investors to determine how strong a company's bear thesis may be. Due to the nature of short selling, the short interest has become a popular indicator among investors. The reason it is given so much weightage is that people betting against a stock have usually done solid research and are confident of a company's downfall. They take unlimited risk, so when big investors or the smart money shorts a stock, people take notice. They try to unearth the red flags that may have prompted the high short interest. We decided to dig deeper and try to find out where smart money sees trouble ahead. To come up with our list of 20 underperforming stocks targeted by short sellers, we looked at the worst-performing stocks of the last six months and then ranked them by the short interest. A young woman walking confidently down the street wearing a stylish dress from the company. Short interest: 17.14% 6 months' performance: -50.27% Designer Brands Inc. (NYSE:DBI) operates as a producer, designer, and retailer of footwear and accessories. The company generates revenue through Brand Portfolio, U.S. Retail, and Canada Retail. It provides casual, dress, and athletic footwear and accessories. For the first time in over two years, Designer Brands Inc. (NYSE:DBI) reported positive comparable sales. Although sales grew slightly by 1%, it is important to notice that the long downtrend finally reversed. The major driver of this turnaround was the U.S. Retail segment posting a 0.7% growth after so long. Despite sales growth, margins remain a major concern as the growth is mainly coming from the branded athletic footwear segment, which generates significantly lower margins. The company's shift towards athletic brands like New Balance and Nike may have lowered overall gross margins, too. It remains in a challenging financial position without solid margin expansion. With debt and annual interest expense amounting to 70 to 80% of its operating income, the short continues to be heavily shorted. A recession could make matters significantly worse. Overall, DBI ranks 7th on our list of underperforming stocks targeted by short sellers. While we acknowledge the potential of DBI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than DBI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
