ABQ city councilor looking to rehab public housing in International District
'It's really important to me, in this housing crisis. We haven't built any public housing in the city of Albuquerque I want to say, since the late 80s,' said Nichole Rogers, Albuquerque City Councilor for District 6, 'They're in desperate need of renovations. I'd like to see them all demolished and we can build more and better on these sites.'
Story continues below
Weather: Widespread snow & rain in northern New Mexico
Crime: Video shows moments officers save baby in stolen truck in Rio Rancho
National: Pause on federal grants sparks concern in NM
Don't Miss: Santa Fe police, animal services rescue injured pelican
That's what Rogers has in mind for three International District properties: 'We have Wainwright Manor that's on Gibson; we have Pennsylvania Apartments on Pennsylvania; and we have Grove Apartments, also on Grove,' Rogers says. Together, the properties have 98 units, and house hundreds of people.
Rogers is backing a plan called the 'Choice Neighborhood Initiative,' in partnership with the city and the Albuquerque Housing Authority, which could rehabilitate the public housing through federal funds. 'Choice Neighborhood means taking a neighborhood folks don't want to live in and making it a neighborhood where people want and choose to live in,' Rogers said.
Rogers said the city already has $150,000 in these federal grant funds to help build community gardens and cultivate a marketplace: 'Once we show success there and get that project done, then we can apply for the implementation grant. That's big money, that's $50 to $60 million dollars that then we can go and actually do the construction to reimagine, rebuild based on what the community planned and wanted, we can actually make that happen.'
This week, they're inviting residents and neighbors to talk about what they'd like to see happen with the properties, 'Hoping that funding doesn't go away during this big transition that we're having in our country,' Rogers said, 'I've told myself I'm going to put my head down and focus on these neck of the woods but the bottom line is: these neck of the woods get a lot of funding from the federal government.'
The community meeting happens Wednesday at Wainwright Manor on Gibson Boulevard near the Gateway Center at 5:30 p.m.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 hours ago
- Yahoo
Rogers's (NYSE:ROG) Q2 Sales Top Estimates, Quarterly Revenue Guidance Slightly Exceeds Expectations
Engineered materials manufacturer Rogers (NYSE:ROG) reported Q2 CY2025 results topping the market's revenue expectations , but sales fell by 5.3% year on year to $202.8 million. Guidance for next quarter's revenue was better than expected at $207.5 million at the midpoint, 0.9% above analysts' estimates. Its non-GAAP profit of $0.34 per share was 32% below analysts' consensus estimates. Is now the time to buy Rogers? Find out in our full research report. Rogers (ROG) Q2 CY2025 Highlights: Revenue: $202.8 million vs analyst estimates of $198.8 million (5.3% year-on-year decline, 2% beat) Adjusted EPS: $0.34 vs analyst expectations of $0.50 (32% miss) Adjusted EBITDA: $23.9 million vs analyst estimates of $25 million (11.8% margin, 4.4% miss) Revenue Guidance for Q3 CY2025 is $207.5 million at the midpoint, above analyst estimates of $205.7 million Adjusted EPS guidance for Q3 CY2025 is $0.70 at the midpoint, below analyst estimates of $0.84 Operating Margin: -33.3%, down from 5.9% in the same quarter last year Free Cash Flow Margin: 2.8%, down from 4.1% in the same quarter last year Market Capitalization: $1.23 billion "As anticipated, second quarter sales increased sequentially due to incremental improvements across most end markets,' stated Ali El-Haj, Rogers' Interim President and CEO. Company Overview With roots dating back to 1832, making it one of America's oldest continuously operating companies, Rogers (NYSE:ROG) designs and manufactures specialized engineered materials and components used in electric vehicles, telecommunications, renewable energy, and other high-performance applications. Revenue Growth Examining a company's long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. With $795.8 million in revenue over the past 12 months, Rogers is a small player in the business services space, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and numerous distribution channels. As you can see below, Rogers struggled to increase demand as its $795.8 million of sales for the trailing 12 months was close to its revenue five years ago. This shows demand was soft, a rough starting point for our analysis. We at StockStory place the most emphasis on long-term growth, but within business services, a half-decade historical view may miss recent innovations or disruptive industry trends. Rogers's recent performance shows its demand remained suppressed as its revenue has declined by 8.3% annually over the last two years. This quarter, Rogers's revenue fell by 5.3% year on year to $202.8 million but beat Wall Street's estimates by 2%. Company management is currently guiding for a 1.3% year-on-year decline in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 2.4% over the next 12 months. Although this projection suggests its newer products and services will fuel better top-line performance, it is still below the sector average. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Operating Margin Operating margin is a key measure of profitability. Think of it as net income - the bottom line - excluding the impact of taxes and interest on debt, which are less connected to business fundamentals. Rogers was profitable over the last five years but held back by its large cost base. Its average operating margin of 7.1% was weak for a business services business. Looking at the trend in its profitability, Rogers's operating margin decreased by 21.2 percentage points over the last five years. Rogers's performance was poor no matter how you look at it - it shows that costs were rising and it couldn't pass them onto its customers. This quarter, Rogers generated an operating margin profit margin of negative 33.3%, down 39.2 percentage points year on year. This contraction shows it was less efficient because its expenses increased relative to its revenue. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Sadly for Rogers, its EPS declined by 15.3% annually over the last five years while its revenue was flat. This tells us the company struggled because its fixed cost base made it difficult to adjust to choppy demand. Diving into the nuances of Rogers's earnings can give us a better understanding of its performance. As we mentioned earlier, Rogers's operating margin declined by 21.2 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its lower earnings; interest expenses and taxes can also affect EPS but don't tell us as much about a company's fundamentals. Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For Rogers, its two-year annual EPS declines of 40.1% show it's continued to underperform. These results were bad no matter how you slice the data. In Q2, Rogers reported adjusted EPS at $0.34, down from $0.69 in the same quarter last year. This print missed analysts' estimates. Over the next 12 months, Wall Street expects Rogers's full-year EPS of $2.05 to grow 37.3%. Key Takeaways from Rogers's Q2 Results It was encouraging to see Rogers beat analysts' revenue expectations this quarter. We were also glad its revenue guidance for next quarter slightly exceeded Wall Street's estimates. On the other hand, its EPS guidance for next quarter missed and its EPS fell short of Wall Street's estimates. Overall, this was a weaker quarter. The stock traded down 2.7% to $63.80 immediately following the results. Rogers's earnings report left more to be desired. Let's look forward to see if this quarter has created an opportunity to buy the stock. When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
a day ago
- Yahoo
Cogeco enters wireless market as mobile service launches in Quebec, Ontario
Cogeco Communications Inc. formally launched mobile service in parts of Ontario and Quebec on Wednesday, making it the latest entrant in Canada's wireless market. For years, Cogeco has offered internet, video and wireline phone services across Canada and some U.S. states., with a current total of 1.6 million residential and business subscribers. 'For almost 70 years, Cogeco has been deeply rooted in regional markets. The launch of Cogeco Mobile is not just a new chapter, it's a bold declaration of our unwavering commitment to be a competitive force in Canada,' chief executive Frédéric Perron said in a press release. The expansion into wireless puts it head-to-head with telecom giants Rogers Communications Inc., BCE Inc. and Telus Communications Inc. The initial roll out will be available to new and existing Cogeco internet subscribers who have their own devices in 13 markets in the two provinces: Alma, Magog, Rimouski, Saint-Georges, Saint-Hyacinthe, Saint-Sauveur, Sept-Îles and Trois-Rivières in Quebec and Brockville, Chatham, Cobourg, Cornwall and Welland in Ontario. Its introductory plans come with rollover data, no commitments, no activation fees and no overages, the company said. Cogeco first announced the Canadian launch during its third quarter earnings release on July 15. In a note, National Bank analyst Adam Shine said Cogeco has been exploring wireless on both sides of the border with the spring launch of Breezeline Mobile in the U.S. as a defensive move to bundle with internet and reduce churn in its cable business. Breezeline, the eighth-largest cable operator in the United States, provides internet, video and telephony services in 13 states. The Massachusetts-based subsidiary launched mobile phone service on May 2024 as a pay-as-you-go service with no term contracts or cancellation fees. The telco is leveraging a seven-year mobile virtual network operator (MVNO) regime that launched last year, he said. That policy by the Canadian Radio-television and Telecommunications Commission required incumbent telecoms Rogers, Bell, Telus and Saskatchewan Telecommunications to provide regional wireless carriers with access to their networks for a period of seven years. Cogeco's mobility launch is being carried on TELUS's wholesale wireless network. 'In honouring our regulatory obligations, TELUS is enabling Cogeco's wireless launch by providing wholesale access to our award-winning broadband wireless network,' TELUS chief executive Darren Entwistle said in a press release last week. Rogers raises revenue outlook to reflect MLSE majority stake Why BCE Inc. was forced to cut its dividend and what it means for investors 'We'll now wait to see how existing wireless operators in Canada react to (Cogeco's) arrival on the scene with its introductory offers just as back-to-school gets going and incumbents talk about more discipline,' Shine wrote. • Email: dpaglinawan@ 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
Yahoo
2 days ago
- Yahoo
Cogeco enters wireless market as mobile service launches in Quebec, Ontario
Cogeco Communications Inc. formally launched mobile service in parts of Ontario and Quebec on Wednesday, making it the latest entrant in Canada's wireless market. For years, Cogeco has offered internet, video and wireline phone services across Canada and some U.S. states., with a current total of 1.6 million residential and business subscribers. 'For almost 70 years, Cogeco has been deeply rooted in regional markets. The launch of Cogeco Mobile is not just a new chapter, it's a bold declaration of our unwavering commitment to be a competitive force in Canada,' chief executive Frédéric Perron said in a press release. The expansion into wireless puts it head-to-head with telecom giants Rogers Communications Inc., BCE Inc. and Telus Communications Inc. The initial roll out will be available to new and existing Cogeco internet subscribers who have their own devices in 13 markets in the two provinces: Alma, Magog, Rimouski, Saint-Georges, Saint-Hyacinthe, Saint-Sauveur, Sept-Îles and Trois-Rivières in Quebec and Brockville, Chatham, Cobourg, Cornwall and Welland in Ontario. Its introductory plans come with rollover data, no commitments, no activation fees and no overages, the company said. Cogeco first announced the Canadian launch during its third quarter earnings release on July 15. In a note, National Bank analyst Adam Shine said Cogeco has been exploring wireless on both sides of the border with the spring launch of Breezeline Mobile in the U.S. as a defensive move to bundle with internet and reduce churn in its cable business. Breezeline, the eighth-largest cable operator in the United States, provides internet, video and telephony services in 13 states. The Massachusetts-based subsidiary launched mobile phone service on May 2024 as a pay-as-you-go service with no term contracts or cancellation fees. The telco is leveraging a seven-year mobile virtual network operator (MVNO) regime that launched last year, he said. That policy by the Canadian Radio-television and Telecommunications Commission required incumbent telecoms Rogers, Bell, Telus and Saskatchewan Telecommunications to provide regional wireless carriers with access to their networks for a period of seven years. Cogeco's mobility launch is being carried on TELUS's wholesale wireless network. 'In honouring our regulatory obligations, TELUS is enabling Cogeco's wireless launch by providing wholesale access to our award-winning broadband wireless network,' TELUS chief executive Darren Entwistle said in a press release last week. Rogers raises revenue outlook to reflect MLSE majority stake Why BCE Inc. was forced to cut its dividend and what it means for investors 'We'll now wait to see how existing wireless operators in Canada react to (Cogeco's) arrival on the scene with its introductory offers just as back-to-school gets going and incumbents talk about more discipline,' Shine wrote. • Email: dpaglinawan@ Sign in to access your portfolio
