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Davy in conjunction with the Sligo Chamber held an investment seminar in The Clarion Hotel, on Thursday 16th November. In order to better serve their clients in the West of Ireland Davy have recently opened an office in Galway serving clients in Connaught, Donegal and Clare. Staffed by experienced investment professionals the office will provide the full range of portfolio management, financial and succession planning services. Chief Economist with Davy, Robbie Kelleher, and Paul Giblin, Head of Structured Investments discussed the current economic outlook, domestic equity markets and a number of recent real estate and private equity investments. Commenting on the Sligo Investment Seminar, Philip Lowe, Senior Portfolio Manger, Davy, said ‘The expertise that is available within Davy is complemented by the relationships that we have built up with world-class investment managers in specialist fields, such as property and private equity in international markets. The purpose of the Investment Seminar is to share that knowledge and to demonstrate how it can be used in a balanced portfolio’. Robbie Kelleher has had a long and distinguished career and was appointed Head of Research in Davy in 1988. He has won numerous awards including No. 1 Research Team, Institutional Investor 2006 and Best Research Economist, Finance 2005. Paul Giblin’s role has been focused on sourcing high return real estate and private equity investments in Europe, the United States and Asia. To this end he formed a number of successful partnerships with institutions such as the Carlyle Group, the Blackstone Group, KKR and Terra Firma, to name but a few. |
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Bank of Ireland Global Markets in conjunction with Sligo Chamber, hosted an economic seminar on Tuesday 24th October. Dr Dan McLaughlin, Chief Economist, Bank of Ireland Group addressed Sligo business leaders and students from Sligo IT with his views on the Irish Economy.
Dr McLaughlin commented that “GDP growth in the economy has been in a 5% - 6% range for the past year and this looks set to continue over the next 18 months, averaging 6% in 2006 and 5.8% in 2007. Growth is being fuelled by consumer spending which is set to rise by over 10% in cash terms this year which in turn has been underpinned by very strong employment growth, solid wage gains and a modest decline in the savings ratio on foot of the release of SSIA accounts. The pace of job creation has been particularly striking, with the numbers at work now over 2 million, and employment looks set to rise by a further 75,000 in 2007”. He added “There are some negatives in this otherwise very positive outlook, including higher inflation and rising interest rates. Indeed, the latter is a significant factor in driving the former, via higher mortgage costs, and inflation would only be 2% if one excludes mortgages. Interest rates are likely to rise by a further quarter percent in December, which alongside the increase already announced in early October means that mortgage costs will continue to drive up inflation. However, oil prices have tumbled of late and this will act as a partial offset and will probably keep inflation below 5% this year with the prospect of a steady decline to under 3% by end 2007. This decline will help support the consumer next year as will further employment gains, the release of the bulk of SSIA accounts and a reduction in the tax burden”. He concluded “The December Budget may inject some €3.5bn in to the Irish economy, given the favourable exchequer position. Tax receipts this year look set to exceed the original target by €2.5bn, which alongside a substantial spending undershoot will result in a €2bn budget outturn, rather than the original €1bn deficit. The 2007 Budget is likely to project another deficit, of around €1.5bn, representing a €3.5bn swing from 2006, incorporating a substantial tax package designed to reduce the numbers paying the top rate of tax.” To access a copy of the presentation click here
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Chamber Golf Classic 2006 - Sponsored by NIB  |
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Sligo Chamber’s 7th Annual Golf Classic took place in County Sligo Golf Club, Rosses Point last Thursday 24th August. National Irish Bank, with two locations in Sligo city centre, was the main sponsor of the event. Weather conditions were excellent as was the turnout with over 140 players taking part. An all lady team was the overall winner, with New Ireland’s team coming second and Sligo House Furnishers Team in third place. Fourth place was secured by DNG Flanagan Ford, fifth by Eircom, and 6th from Bank of Ireland. The overall sponsor, National Irish Bank came in 7th, while the Martin Reilly Motors Team won Best Ladies. iPods; Watches; Galway Crystal; Golf Fleeces; Perfume Hampers; Ryder Cup Books & Wine were amoung the prizes. Chamber President Ann Clinton expressed her gratitude to the overall sponsor National Irish Bank for their support of the event. She also thanked all other sponsors, supporters, and participants, without whom the golf classic could not take place. A special thanks was given to the County Sligo Golf Club, Rosses Point for their assistance with the Sligo Chamber’s annual event and to Marc MacSharry Proporties sponsor of the greens. |
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Winning team at the Chamber Golf Classic 2006 Tom Kenny, Captain County Sligo Golf Club; Kevin Fitzsimmons,NIB; Ann Clinton; Sligo Chamber Brendan McCabe,NIB; Rebecca Stevens; Sligo Chamber Paddy Duffy,NIB |
Sligo Chamber & NIB Paddy Duffy, National Irish Bank; Ann Clinton, President Sligo Chamber;Brendan McCabe, National Irish Bank; Rebecca Stevens Sligo Chamber; Kevin Fitzsimmons, National Irish Bank. |
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| Chamber communications | |
The Chamber have submitted a number of letters to the County Manager concerning the centre block development to view these letters click on the links below: |
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| Chamber AGM | |
| The Chamber AGM took place on Thursday May 25th in the Sligo Park Hotel. Rebecca Stevens, presented an overview of the internal Chamber structure and activities. She identified some of the targets and objectives they hope to achieve over the next 12 months. The Infrastructure, Retail and Traffic Committees will continue to play key roles, particularly with the lobbying campaigns needed on the Western Rail Corridor & Gas pipe lines; the necessity to promote the whole of Sligo City as a retail package and tourist destination; the Pedestrianisation of O’Connell Street and new traffic flows.
Chamber President, Ann Clinton, addressed the AGM bringing focus once again to some of Chamber’s core issues, nobably the urgent need for additional city centre parking and the lobby for a reduction in commercial rates. The President also stated that the Chamber must lobby at governmental level to ensure increased investment towards the provision of adequate R&D resources within the region. “We must seek to breed our own intellectual property in order to achieve balanced regional development and to realistically pursue sustainable competitive advantage”. The AGM concluded with an extremely insightful presentation by Lisa McAllister, CEO of the Western Development Commission. The WDC are a consultative advisory group to the Government, who play a pivotal role in the development of the Western regions. In addition to outlining the strategic aims and objectives of the WDC and their work already completed, Lisa provided an informative analysis specific to Sligo. She called upon all relevant bodies and agencies to lobby extensively and push for the governmental commitment needed to enable Sligo to reach its full potential. |
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Friday April 28th: Chamber Annual Dinner Dance
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The Chamber Annual Dinner took place in the Clarion Hotel Sligo on Friday April 28th. This year our guest speaker was Prof. Brendan Drumm, Chief Executive of the HSE. On the night the Sligo business person of the year award was presented to Dr. Richard Thorn, Director of IT Sligo. The event was sponsored by Anglo Irish Bank, that have just moved to Sligo. To download a copy of the Chamber Presidents speech click here
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| Wednesday March 1st: Chamber HR Employment Law seminar | |
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On Wednesday April 12th Sligo Chamber and Euro Info Centre held a HR Employment
Law seminar in the Sligo Park Hotel.
The seminar which was given by Peninsula Business Services updated companies on the changing employment legislation and how it affects business, including the implications of EU decisions and directives. Topics covered included: |
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For further information on this contact Laura or Cathy on 071-9161274. |
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| HR - People Management Training | |
| Tuesday: March 21st, 28th and April 4th Content: • Developing role and task clarity, Ideal for managers and those who manage people, this highly successful course covers topics such as motivation, dealing with problem behaviour, absenteeism, interview skills and staff appraisals. The course will be held over three full days - one day a week for three weeks. Another HR training programme will run in the autumn. For further information email Laura |
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