Source: United States of America – Federal Government Departments (video statements)
An installment in EERE’s Clean Energy in Action series, this video highlights how the Philadelphia Eagles became the first professional sports team in North America to make use of clean hydrogen that is produced on site. https://www.energy.gov/eere/articles/fuel-eagles-fuel
Source: United Nations (Video News)
The report – ‘Hunger Hotspots – FAO-WFP early warnings on acute food insecurity’ – issued today by the Food and Agriculture Organization of the United Nations (FAO) and the United Nations World Food Programme (WFP) calls for urgent humanitarian action to save lives and livelihoods and prevent starvation and death in hotspots where acute hunger is at high risk of worsening between November 2024 and May 2025
Source: Peoples Bank of China
Announcement on Open Market Operations No.216 [2024]
(Open Market Operations Office, November 1, 2024)
In order to keep liquidity adequate at a reasonable level in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB17.1 billion through quantity bidding at a fixed interest rate on November 1, 2024.
Details of the Reverse Repo Operations
|
Maturity |
Volume |
Rate |
|
7 days |
RMB17.1 billion |
1.50% |
Date of last update Nov. 29 2018
2024年11月01日
Source: Hong Kong Government special administrative region
Walking Together in Healthy Bay Area – “Celebrating the 75th National Day 10 000 Steps a Day Walking Challenge 2024” Kick-off Ceremony (with photos)
Walking Together in Healthy Bay Area – “Celebrating the 75th National Day 10 000 Steps a Day Walking Challenge 2024” Kick-off Ceremony (with photos)
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The Health Bureau (HHB) and the Department of Health (DH) today (November 1) held the “Celebrating the 75th National Day 10 000 Steps a Day Walking Challenge 2024” Kick-off Ceremony to promote the health benefits of walking. On the occasion of the 75th anniversary of the founding of the People’s Republic of China (PRC), Hong Kong will for the first time partner with the Greater Bay Area (GBA) Mainland cities to jointly promote walking under the theme of “Walking Together in Healthy Bay Area” to mark the celebration. Shenzhen and Zhuhai also held the Kick-off Ceremony of their walking activities today. The Secretary for Health, Professor Lo Chung-mau, and the Director of Health, Dr Ronald Lam, officiated at the Kick-off Ceremony, while other officiating guests included Legislative Council Member Mr Tommy Cheung; the Under Secretary for Health, Dr Libby Lee; the Controller of the Centre for Health Protection of the DH, Dr Edwin Tsui; the Chairperson of the Task Group on Promotion of Physical Activities, Dr Lui Siu-fai; the Vice-chairperson of the Task Group on Promotion of Physical Activities, Dr Lobo Louie, and Ms Shelley Lee. Addressing the ceremony, Professor Lo said, “I sincerely thank the GBA Mainland Cities for their support in promoting walking together on the same day for the celebration of the 75th anniversary of the National Day, as well as promoting a healthy lifestyle among the GBA residents. I would also like to express gratitude for the enthusiastic participation and support in this event from various sectors of community, and I am particularly pleased to meet the ‘people of the same age as our motherland’ here today (that is, being born in 1949), including the Legislative Council Member Mr Tommy Cheung and Ms Lee Lai-kuen, Shelley.” He emphasised, “Like many other regions and countries, Hong Kong is confronted with the threats arising from an ageing population and non-communicable diseases, and insufficient physical activity is one of the key risk factors of non-communicable diseases, but yet this risk is modifiable. According to the DH’s Student Health Service Annual Health Report for 2022-23 school year, around 90 per cent of students had an insufficient level of physical activity, i.e. not meeting the World Health Organization (WHO)’s recommendation of doing at least 60 minutes of daily moderate to vigorous-intensity physical activity. As for members of the public aged 18 or above, according to the Population Health Survey 2020-22 conducted by the DH, 24.8 per cent performed an insufficient level of physical activity, i.e. not meeting the WHO’s recommendation of doing at least 150 minutes of moderate-intensity aerobic physical activity; or at least 75 minutes of vigorous-intensity aerobic physical activity; or an equivalent amount of physical activity throughout the week. Therefore, I call on everyone, whether school children or adults, to perform more physical activities. School children could participate in the ‘e+ Go to Park’ launched by the HHB in collaboration with the Education Bureau, the DH and the Leisure and Cultural Services Department (LCSD); members of the public aged 18 or above could seize this opportunity to participate in the ’10 000 Steps a Day’ Walking Challenge.” He added, “Walking is simple form of physical activity and brings plenty of health benefits including maintaining a healthy body weight, improving cardiopulmonary function, strengthening muscles and bones, relieving symptoms of anxiety and depression, as well as reducing the risk of chronic diseases.” To encourage members of the public to increase their physical activities, the DH launched the “10 000 Steps a Day” Campaign in 2022. For the second Walking Challenge in 2023, a total of 16 000 people participated, with the total number of steps accumulated exceeding 5 billion. The Walking Challenge commences today and lasts for one month. In addition to individual Walking Challenge, it also includes a Workplace Organisation Walking Challenge, aiming to raise public awareness of the physical and mental health benefits of walking, encourage friends and colleagues to support each other and walk 10 000 steps daily. Adults are recommended to gradually increase their daily step goal to 10 000 based on an individual’s own physical conditions, abilities, pace and circumstances. Any amount of walking is better than sitting, even if the goal cannot be reached yet. Participants enrol in the Walking Challenge and record their step count during the challenge period through “e+Life”, the health challenge platform launched under the eHealth app. Participants reaching a daily average of 10 000 steps during the challenge period can be awarded an electronic certificate of achievement from the “e+Life” platform. For more details about the Walking Challenge in Hong Kong, please visit the event website of the Walking Challenge (www.10000stepsaday.hk/?lang=en) and the website of “e+Life” (app.ehealth.gov.hk/elife-overview).
Ends/Friday, November 1, 2024Issued at HKT 20:00
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Source: USAID
The below is attributable to Spokesperson Benjamin Suarato:
Today, Administrator Samantha Power spoke with UNICEF Executive Director Cathy Russell. They discussed next steps for the Partnership for a Lead-Free Future, a USAID and UN-led initiative to end childhood lead poisoning in low- and middle-income countries, that was launched on the sidelines of the 79th United Nations General Assembly in September 2024. They also discussed critical efforts to meet ongoing health and humanitarian needs in Gaza.
Source: USAID
Ada Deer was just four years old when she attended the first general council meetings for her tribe, the Menominee Nation, which has been rooted in the Great Lakes region for more than 10,000 years. She was committed from her earliest years to advocating for her people, but when she was a young woman, in 1961, the Federal Government terminated the Menominee Nation’s recognition, halting all federal services to the tribe and placing all tribal property and assets in the hands of a private corporation. This resulted in a drastic decline in employment and the decimation of basic services, including health care, for the Menominee people, as the reservation hospital closed due to lack of funding.
Inspired by the civil rights movements happening around the country, Deer helped to form a new group demanding that the U.S. government recognize the rights of her tribe. The group mobilized in opposition to federal policies, especially those related to land sales, and argued for restoring the Menominee Nation’s legal right to exist. Their efforts ultimately resulted in President Nixon signing legislation in 1973, restoring federal recognition to the Menominee Tribe. That year, when asked about her advocacy in an interview, Deer said, “Mainly, I want to show people who say nothing can be done in this society that it just isn’t so. You don’t have to collapse just because there’s federal law in your way. Change it!”
Ada Deer went on to become the first woman to chair the Menominee Tribe in Wisconsin, and then the first woman to serve as the Assistant Secretary For Indian Affairs at the Department of the Interior. During her confirmation hearing before Congress, Deer recounted, “At Menominee, we collectively discovered the kind of determination that human beings only find in times of impending destruction… Against all odds, we invented a new policy, restoration.” While in office, she helped set federal policy for more than 550 federally recognized tribes, guided by this policy of restoration.
Each November at USAID, we recognize Native American Heritage Month. This month is a time to celebrate the rich culture and the vast contributions of Native American and Indigenous persons like Deer, who have helped push to make our nation’s core values of liberty and justice for all a lived reality, for their own communities, and for others in the United States and beyond.
These values are core to what we do at USAID as well. We are working across our teams to create more pathways for people from Indigenous communities, at home and abroad, to work with USAID. The Office of Civil Rights is continuing its work to break down barriers to employment for Indigenous Peoples. And USAID’s Policy on Promoting the Rights of Indigenous Peoples (PRO-IP) promotes thoughtful and direct engagement with Indigenous Peoples throughout our programming.
This Native American Heritage Month, USAID proudly celebrates the remarkable resilience, courage, and contributions of Native cultures, present and past, in this country.
Source: USAID
The below is attributable to Spokesperson Benjamin Suarato:
Today, Administrator Samantha Power met with Raed Al Saleh, Founder and Head of Syria Civil Defence, popularly known as the White Helmets. Administrator Power and Saleh discussed the White Helmets’ ten years of humanitarian and civic action in Syria, including responding to the February 2023 Türkiye-Syria earthquake, rescuing nearly 3,000 people from under the rubble in Idlib and northern Aleppo. Administrator Power reiterated USAID’s support for the White Helmets’ mission and commitment to investing in locally-led development as a way to help strengthen the response to humanitarian crises around the world.
Source: US Department of Labor
WASHINGTON – The U.S. Department of Labor announced today that its Mine Safety and Health Administration completed impact inspections in September 2024 at eight mines in Indiana, Kentucky, New Hampshire, Pennsylvania, Virginia, West Virginia and Wisconsin and issued 112 violations.
The agency conducts impact inspections at mines that merit increased agency attention and enforcement due to poor compliance history; previous accidents, injuries and illnesses; and other compliance concerns. Of the 112 violations MSHA identified in September 2024, 24 were evaluated by inspectors as significant and substantial. The agency began conducting impact inspections after an April 2010 explosion in West Virginia at the Upper Big Branch Mine killed 29 miners.
Since 2023, MSHA’s impact inspections have identified 4,679 violations, including 1,285 significant and substantial and 87 unwarrantable failure findings. An S&S violation is one that is reasonably likely to cause a reasonably serious injury or illness. Violations designated as unwarrantable failures occur when an inspector finds aggravated conduct that constitutes more than ordinary negligence.
“September 2024 impact inspections identified hazards such as lack of personal protective equipment and inadequate machine guarding. These important protections keep miners safe and prevent serious accidents,” said Assistant Secretary for Mine Safety and Health Chris Williamson. “The Biden-Harris administration continues to demonstrate that impact inspections remain an important tool to hold operators accountable and eliminate hazards that put miners’ safety and health at risk.”
North Indianapolis Quarry & Mill, a crushed and broken limestone mine in Hamilton County, Indiana, operated by Martin Marietta Materials Inc., was one of the eight mines selected for an impact inspection given previous safety concerns and its history of violations. On Sept. 12, 2024, MSHA personnel identified 42 violations of mandatory safety and health standards, 14 of which were designated S&S, and one 107(a) imminent danger order at the mine. Inspectors issue imminent danger orders to remove miners immediately when hazards present the imminent likelihood of a serious accident.
Specifically, inspectors found the following conditions:
These findings indicate a range of systemic safety failures that exposed miners to unnecessary safety hazards. The high rate of S&S violations, combined with repeated failures to comply with safety standards, underscores the need for the mine operator to improve its safety culture and compliance with MSHA standards.
View September 2024 MSHA monthly impact inspections results and previous impact inspections.
Learn more about MSHA.
Source: US Department of Labor
Employer: Crystal Enterprises Inc.
Employer address: 10837 Lanham Severn Road, Glenn Dale, MD 20769
Investigation findings: A U.S. Department of Labor Wage and Hour Division investigation determined that Crystal Enterprises Inc. failed to pay the required prevailing wage and health and welfare benefits to employees working at a U.S. Air Force training center dining facility on Eglin Air Force Base in Florida, a violation of the McNamara-O’Hara Service Contract Act. By doing so, the employer also paid workers lower rates of pay for holidays and sick leave and vacation time used.
Recoveries: $109,127 in back wages for 55 employees.
Quote: “Government contracts come with stipulations to ensure workers are paid correctly, and employers must adhere to those requirements when bidding on and obtaining those contracts. This includes ensuring the proper job classifications and rates of pay are followed,” said Wage and Hour Division District Director Vilma Bell in Orlando, Florida. “These workers provided the critical labor needed to feed service men and women on this military base. They deserve to take home every dollar they earn.”
“Employers with questions about the standards required of them when they enter into federally funded contracts can contact us for help or find government contract compliance assistance information on our website,” Bell added.
Background: The U.S. Air Force subcontracted Crystal Enterprises Inc. to perform full food services at the training center dining facility on Eglin Air Force Base, Florida.
Learn more about the Wage and Hour Division, including a search tool to use if you think you may be owed back wages collected by the division. Workers and employers can call the division confidentially with questions or concerns – regardless of where they are from – and the division can speak with callers in more than 200 languages. Help ensure hours worked and pay are accurate by downloading the department’s Android and iOS Timesheet App for free in English or Spanish.
The Service Contract Act requires contractors and subcontractors performing services on prime contracts in excess of $2,500 to pay their workers employed under the contract no less than the local prevailing wages and fringe benefits for corresponding work on similar projects in the area.
Source: US Department of Labor
WASHINGTON – The U.S. Department of Labor today recognized more than 800 employers for their commitment to employing and supporting the nation’s service members by presenting them with the 2024 Honoring Investments in Recruiting and Employing American Military Veterans Medallion Award.
Acting Secretary of Labor Julie Su and Assistant Secretary for Veterans’ Employment and Training James D. Rodriguez announced these 838 U.S. employers during an online ceremony. The event also featured award recipients who shared their views on the importance of hiring, retaining and professionally developing the nation’s veterans and the valuable contributions they make.
“The U.S. Department of Labor congratulates the newest recipients of the HIRE Vets Medallion Award and thanks them for their commitment to our nation’s veterans,” said Acting Secretary Julie Su. “In 2024, we recognize 838 companies that understand that military veterans possess unique skills that strengthen their organizations and our nation’s economy.”
Presented annually, the HIRE Vets Medallion Program is the only federal-level program recognizing veteran employment and employers. Employers have hired nearly 370,000 veterans since the program’s inception, including more than 71,000 veterans hired by 2024’s medallion honorees in the past two years.
“The HIRE Vets Medallion Award is the federal government’s only veteran-hiring award. Recipients must meet high standards and demonstrate significant accomplishments in support of our nation’s veterans,” said Assistant Secretary for Veterans’ Employment and Training James D. Rodriguez. “We appreciate their hard work and commitment to providing our nation’s veterans with meaningful employment.”
View the 2024 HIRE Vets Medallion Awards ceremony.
Employers, learn more about the award and how to apply.
Source: US State of California 2
What you need to know: California will be home to a first-of-its-kind research & development facility made possible by the Biden-Harris Administration’s CHIPS & Science Act.
Los Angeles, California — California took a major step forward in correcting the damage from 50 years of neglect to the state’s mental health system with the passage of Proposition 1. This historic measure — a signature priority of Governor Gavin Newsom — adds rocket fuel to California’s overhaul of the state’s behavioral health systems. It provides a full range of mental health and substance abuse care, with new accountability metrics to ensure local governments deliver for their communities.
California has long been a leader in global technology and future thinking innovation. With our state’s global talent pool, world-leading universities and research institutions, and top technology companies, it is no surprise California was selected. We often say the future happens here first, and thanks to the Biden-Harris Administration’s announcement, California will continue to shape the coming decades across the most critical sectors of our economy and national security.
Governor Gavin Newsom
The new headquarters facility will lower the barriers to semiconductor prototyping, experimentation, and other R&D activities that will support America’s global strength and leadership in design, materials, and process innovation while enabling a vibrant domestic industry. The DCF is expected to drive more than $1 billion in research funding and create more than 200 direct jobs over the next 10 years, utilizing California’s global talent and world-leading research and education facilities throughout the Golden State. California’s leadership in the semiconductor industry is key to the Governor’s ‘build more, faster’ infrastructure agenda.
“We are thrilled that the Department of Commerce and Natcast chose to locate this critically important facility in Sunnyvale, the heart of Silicon Valley, alongside the world’s largest concentration of semiconductor businesses, talent, intellectual property, and investment activity,” said Dee Dee Myers, Senior Economic Advisor to Governor Newsom and Director of the Governor’s Office of Business and Economic Development (GO-Biz). “The Newsom Administration and our partners across the industry know how important it is to shorten the time frame from R&D to commercialization. We are looking forward to a productive partnership with the Department of Commerce and Natcast to ensure that CHIPS for America will be an enduring success not only for our state but for the entire country.”
The DCF will convene semiconductor industry leaders from across the U.S., offering unparalleled engagement and collaboration opportunities to a diverse array of stakeholders across the semiconductor value chain, and will administer the NSTC Design Enablement Gateway, helping drive technological advances in semiconductor design and manufacturing to transfer at scale. The facility will also oversee the NSTC Workforce Center of Excellence to build and sustain the diverse and skilled workforce necessary for the U.S. semiconductor industry to grow. With the largest public higher education system in the U.S., world-class research institutions like UC Berkeley and Stanford, and surrounding national labs, California’s unmatched talent pipeline will foster a dynamic workforce that advances the DCF mission.
Learn more about today’s announcement here.
Source: US State of California 2
SACRAMENTO – Governor Gavin Newsom today announced the following appointments:
Vickie Sakamoto, of Sacramento, has been appointed Assistant State Fire Marshal at the California Department of Forestry and Fire Protection (CAL FIRE.) Sakamoto has been Assistant Deputy Director at the California Department of Forestry and Fire Protection since 2024 and has served in several positions there since 1989, including Division Chief, Deputy State Fire Marshal – Supervisor, Deputy State Fire Marshal III – Specialist and Deputy State Fire Marshal. Sakamoto was a Fire Prevention Technician at the Florin Fire Protection District from 1986 to 1989. She is a member of Northern California Fire Prevention Officers. This position does not require Senate confirmation and the compensation is $200,004. Sakamoto is a Democrat.
Donald Butz, of Carlsbad, has been appointed to the State Board of Fire Services. Butz has been Fire Chief at the Lakeside Fire Protection District since 2016. He was an Instructor at the San Diego County Office of Education from 2013 to 2021. Butz was a Fire Chief at the Viejas Fire Department from 2005 to 2016. He was a Deputy Fire Chief at the Rancho Santa Fe Fire Protection District from 1999 to 2005. Butz is Vice President of the Fire Districts Association of California, an ex officio board member at the American Red Cross, a committee member of the SDG&E Wildfire Safety Community Advisory Council, and a member of the California Fire Chiefs Association and the Fire Agencies Insurance Risk Authority. He earned a Master of Arts degree in Leadership: Disaster Preparedness & Executive Fire Leadership from Grand Canyon University and a Bachelor of Arts degree in Management from the University of Phoenix. This position does not require Senate confirmation and there is no compensation. Butz is registered without party preference.
Zoraida Diaz, of Hercules, has been appointed to the State Board of Fire Services. Diaz has been Fire Chief for the City of Fremont since 2023. She was a Deputy Fire Chief at the City of Fremont Fire Department from 2021 to 2023. Diaz was an Assistant Chief of Operations for the Oakland Fire Department from 2020 to 2021. She was Battalion Chief at the City of Oakland Fire Department from 2015 to 2020. Diaz is a member of the International Association of Fire Chiefs and the California Fire Chiefs Association. She earned a Master of Science degree in Rehabilitation Counseling and a Bachelor of Arts degree in Psychology from the State University of New York at Albany. This position does not require Senate confirmation and there is no compensation. Diaz is a Democrat.
Janet Ruiz, of Oceanside, has been appointed to the State Board of Fire Services. Ruiz has been Director of Strategic Communication at the Insurance Information Institute since 2015. She was Director of Communications at the Fireman’s Fund Insurance Company from 2006 to 2014. Ruiz was a Public Affairs Specialist for State Farm Insurance from 1989 to 2006. She is a member of the Chartered Property Casualty Underwriters Society. Ruiz earned a Bachelor of Science degree in Business Administration and Communications from Thomas Edison State University. This position does not require Senate confirmation and there is no compensation. Ruiz is registered without party preference.
Yvette Roland, of Los Angeles, has been reappointed to the State Bar Court of California, where she has served since 2014. Roland was a Partner at Duane Morris LLP from 2006 to 2014 and at Hancock, Rothert & Bunshoft LLP from 1990 to 2005. Roland was an Associate at Baker & Hostetler/McCutchen, Black, Verleger & Shea from 1986 to 1990. She was a Law Clerk for the Honorable Terry J. Hatter, Jr. at the U.S. District Court, Central District of California from 1985 to 1986. Roland was a Law Clerk for the NAACP Legal Defense Fund in 1981. She is a member of the National Council of Lawyer Disciplinary Boards, the California Association of Black Lawyers, the Black Women Lawyers Association of Los Angeles, the Los Angeles County Bar Association, and the John M. Langston Bar Association. Roland earned a Juris Doctor degree from the University of California, Los Angeles School of Law, a Master of Education degree from Stanford University and a Bachelor of Arts degree in History and English from the University of California, Riverside. This position does not require Senate confirmation and the compensation is $222,772. Roland is a Democrat.
Source: US State of California 2
In case you missed it, new analysis from the Public Policy Institute of California (PPIC) found that “violent and property crime rates are less than half of what they were, and property crime is at pre-pandemic levels,” in addition to “savings from less incarceration.”
Governor Gavin Newsom
Graphic attributable to PPIC
Additionally, the California Highway Patrol just received additional funding to continue their efforts to combat sideshows.
Today’s PPIC analysis and CHP investment comes as Governor Newsom announced a CHP partnership with San Bernardino and more than 10,000 arrests have come from the state’s Organized Retail Theft grants.
California has invested over $1.1 billion to fund resources and personnel to fight crime, help locals hire more police, and improve public safety since 2019. In 2023, as part of California’s Real Public Safety Plan, the Governor announced the largest-ever investment to combat organized retail crime in state history, an annual 310% increase in proactive operations targeting organized retail crime, and special operations across the state to fight crime and improve public safety.
This year, the Governor signed into law the most significant bipartisan legislation to crack down on property crime in modern California history. Building on the state’s robust laws and record public safety funding, these bipartisan bills establish tough new penalties and additional tools for felony prosecutions to crack down on serial shoplifters, retail thieves, and auto burglars. The Governor also signed into law a bipartisan package of bills to impose stricter penalties, increase accountability, and strengthen law enforcement’s ability to combat sideshows and deter illegal activities such as drifting, street racing, and blocking intersections.
Source: US State of Hawaii
Posted on Oct 31, 2024 in Latest Department News, Newsroom
DEPARTMENT OF LAND AND NATURAL RESOURCES
JOSH GREEN, M.D.
GOVERNOR
DAWN CHANG
CHAIRPERSON
NEWS RELEASE
FOR IMMEDIATE RELEASE
Oct. 31, 2024
THE DREAM FOR MAUI’S MOTHER REEF
First Baby Steps Underway for Summit-to-Sea Restoration
(KAHULUI, MAUI) – Conservationists are often asked to describe their efforts in people terms. When thinking about what’s being called the Summit-to-Sea restoration of the Olowalu Reef on Maui’s southwestern shore, Tamara Farnsworth of The Nature Conservancy (TNC) shares her dream.
“My dream, which was shared by Auntie Wiki Kaluna-Palafox, is to see clear streams running. My dream is to see healthy fisheries developing, to see brighter and more diverse corals on the reef. The really big dream is to see limu return to these shores. I think that’s a wonderful vision for us to work toward, is very abundant limu here back in the ocean and on the shores,” Farnsworth said.
Work to restore what is known as Maui’s mother reef began this week with baby steps. A contractor started collecting soil samples as part of feasibility study for a possible retention basin in Manawaipueo Gulch.
“We’re doing some preliminary work for what is proposed in our NOAA transformational habitat grant,” Farnsworth explains. NOAA awarded $9.9 million to, among other projects, reduce sediment reaching the reef. During runoff periods the ocean turns brown and huge amounts of muddy sediment chokes the extensive Olowalu reef.
“We are looking at ways to capture the sediment before it reaches the ocean. We are taking baby steps to understand if it makes sense at this time, in this place, to possibly build a small retention basin. We’ve done cultural, literature, environmental and scientific reviews. Now we’re taking soil and core samples to help us understand the depth of a potential sediment basin and to understand if it even makes sense,” Farnsworth explained.
TNC is one of numerous partners that will lead various projects in partnership with the DLNR Division of Forestry and Wildlife (DOFAW). Other projects planned during the three-year-long, Summit-to-Sea restoration grant period include:
Separate research and funding is targeted at developing “super reefs.” Rising sea temperatures have caused mass coral bleaching across the Hawaiian Islands, and the super reefs project is aimed at gaining better understanding of coral species that have the best thermal tolerance, meaning those that can tolerate rising temperatures the best.
Continuing the dream, Farnsworth commented, “It hasn’t been that long ago since we saw the kinds of limu population that we hear about from our kūpuna and folks who’ve lived in this area. They remember the limu piling up. They remember limu being part of everybody’s diet just a generation ago.”
Stopping land-based threats is the first step toward the restoration of Maui’s mother reef. The problems exacerbated quickly over time, so project managers say to solve them is a long-term venture.
# # #
RESOURCES
(All images/video courtesy: DLNR)
HD video – The Dream for Maui’s Mother Reef (web feature)
https://vimeo.com/1024936516
HD video – Project area and Olowalu reef aerials, retention basin test bores (Oct. 28, 2024):
https://www.dropbox.com/scl/fi/ci25cv39c3f5u86439uh8/Retention-Basin-Test-Bores-Oct.-28-2024.mov?rlkey=4tmw200jxwe3gcchfh438bb1o&st=4qj4dnoj&dl=0
HD video – Tamara Farnsworth, The Nature Conservancy SOTs (Oct. 28, 2024):
https://www.dropbox.com/scl/fi/05pd5hz3ipxia3lu98y6f/Summit-to-Sea-Tamara-Farnsworth-Interview-Oct.-28-2024.mov?rlkey=8vm194ggpo241sl727eecmi35&st=d4na7zxk&dl=0
(Transcription attached)
Photographs – Summit-to-Sea retention basin test bores (Oct. 28, 2024):
https://www.dropbox.com/scl/fo/d6b9cq0o43c3tg17n04s7/AKOCls_yZ0h2Es2zH5LaPjw?rlkey=u0wkyrkukknufksnbwiyvu9ox&st=r07u1y8q&dl=0
Photographs – Summit-to Seam project area ground and aerials:
https://www.dropbox.com/scl/fo/3dbdmwk1mw4kg3jp59ena/AO7_SgbyXYQ7J_mQSeYY-vs?rlkey=d6l30jexzcdcyoq40zp599grf&st=yx1d9h0l&dl=0
(Cut sheet attached)
Media Contact:
Dan Dennison
Communications Director
808-587-0396
[email protected]
Source: United States Department of Justice (Human Trafficking)
RALEIGH, N.C. – D’Angelo Taborn, of Durham, was sentenced today to 27 years in prison for sex trafficking by force, fraud, or coercion. Following an FBI sting operation in Jacksonville, NC, Taborn and his co-defendant, Imani Franco, were arrested for using threats to coerce women into sex trafficking. Taborn, 31, pled guilty to the charge on July 24, 2024. Franco, 30, pled guilty on April 25, 2024, and was sentenced on September 23, 2024, to 12 years.
“Our Human Trafficking Task Force brings agencies together to expose traffickers, rescue victims, and dismantle the illicit networks that traffic in human beings for sex or labor,” said U.S. Attorney Michael F. Easley, Jr. “These defendants treated their victims like animals, deprived them of food, and threatened them with violence if they did not comply. Thankfully the FBI, NCIS, and local law enforcement acted swiftly, to hold the traffickers accountable and help put the survivors on their path of healing.”
“It is difficult to hear these victims literally felt “caged” by these offenders. To be forced into sex trafficking, to have to ask for food, those are deplorable conditions for any human being to endure,” said Robert M. DeWitt the FBI Special Agent in Charge in North Carolina. “The FBI and our local law enforcement partners will never stop working to combat human trafficking.”
According to court documents and other information presented in court, on August 12, 2022, the Federal Bureau of Investigation’s Human Trafficking Task Force conducted a proactive sting operation in Jacksonville, based on online advertisements for commercial sex. An undercover officer responded to an advertisement and was directed to a hotel in Jacksonville. The undercover officer encountered a young female depicted in the advertisement, later identified as Victim 1.
A short time later, law enforcement observed the defendants step out of a hotel room just down the hall. When they saw law enforcement, Taborn and Franco attempted to leave, but they were detained while officers obtained search warrants for their hotel room and vehicle. Taborn and Franco carried three phones between them, and when officers called the number listed in the commercial sex advertisement for Victim 1, one of the phones rang.
When Taborn and Franco were arrested, Victim 1 became visibly relieved. She explained that Taborn and Franco had recruited her a month earlier and that they expected her to engage in commercial sex to make money for them. Taborn required Victim 1 to perform oral sex on him twice to ensure she was a “good product.” Taborn and Franco controlled all aspects of the commercial sex operation and took all the money that Victim 1 earned. They transported Victim 1 to different cities—Jacksonville, Charlotte, Durham, and Danville, Virginia—to find additional customers for commercial sex. Investigators located numerous commercial sex advertisements and obtained hotel receipts and surveillance footage that confirmed Victim 1’s account.
Victim 1 described how she feared Taborn and felt “like an animal in a cage.” She was not allowed to leave her room and had to request food and water from Taborn and Franco. When officers recovered her, it had been more than 24 hours since she had last eaten—a meal that consisted of four leftover chicken wings from Taborn’s and Franco’s dinner. On one occasion, Victim 1 witnessed Taborn and Franco recruit another female victim, Victim 2, who they picked up in South Carolina and transported back to North Carolina. Victim 2 had not known they wanted her to engage in commercial sex in North Carolina. When Victim 2 said she did not want to participate, Taborn threatened her with his black handgun in front of Victim 1. Officers found a firearm with an extended magazine and laser matching the description in the glovebox of Taborn’s car.
Michael F. Easley, Jr., U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by U.S. District Judge James C. Dever III. The Federal Bureau of Investigation (FBI) undertook this investigation as part of “Operation Cross Country,” a nationwide sex-trafficking enforcement campaign, with assistance from the Onslow County Sheriff’s Office, the New Hanover County Sheriff’s Office, the Jacksonville Police Department, and the Naval Criminal Investigative Service (NCIS). Assistant U.S. Attorney Jake D. Pugh prosecuted the case.
This case was part of our Human Trafficking Task Force created to expose and prosecute anyone who exploits North Carolinians for sex or forced labor. Our victim-centric approach focuses on stabilizing victims, getting them resources, and helping them through the court process. If you have a tip about trafficking, text 233733.
Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 7:23-cr-0092-D.
Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)
Orlando, Florida – U.S. District Judge Carlos E. Mendoza has sentenced Albert Ayala (34, Orlando) to 14 years in federal prison for possessing a firearm as a convicted felon. Ayala entered a guilty plea on May 21, 2024.
According to court records, Ayala was driving a vehicle on I-4 when his girlfriend, the sole passenger in the vehicle, was ejected from the car. The woman was struck by multiple vehicles, causing her death. Ayala continued driving and crashed the vehicle at the base of an I-4 exit. Ayala then fled the scene on foot, leaving behind a pistol and 11 rounds of ammunition in the vehicle. Ayala’s DNA was located on the firearm and airbag that had deployed during the crash. Prior to possessing the firearm, Ayala had been convicted of 10 felonies. As a convicted felon he is prohibited from possessing a firearm or ammunition under federal law.
“We’re proud to have helped put this heartless suspect behind bars for a long time,” said ATF Tampa Field Division’s Special Agent in Charge Kirk Howard.
This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives, with assistance from the Orlando Police Department. It was prosecuted by Assistant United States Attorney Stephanie A. McNeff.
This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.
Source: GlobeNewswire (MIL-OSI)
Boston, MA, Nov. 01, 2024 (GLOBE NEWSWIRE) — Finnovate Acquisition Corp. (“Finnovate” or the “Company”) (Nasdaq: “FNVT”, “FNVTU”, “FNVTW”) announced today that, in connection with the Company’s upcoming extraordinary general meeting of shareholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from November 8, 2024 to May 8, 2025 (the “Extension”), Finnovate Sponsor, L.P. (the “Sponsor”) or its designees have agreed to revise their intended contribution to support the Extension, such that they will contribute to the Company as a loan an aggregate of $0.05 for each Class A ordinary share that is not redeemed, for each calendar month (commencing on November 8, 2024 and on the 8th day of each subsequent month) until May 8, 2025 (each, an “Extension Period”), or portion thereof, that is needed to complete an initial business combination (the “Contribution”). For example, if the Company takes until May 8, 2025 to complete its initial business combination, which would represent six calendar months, the Sponsor or its designees would make aggregate Contributions resulting in a redemption amount of approximately $11.91 per unredeemed share, in comparison to the current redemption amount of $ approximately 11.61 per share.
Each Contribution will be deposited in the trust account within seven calendar days from the beginning of each Extension Period (or portion thereof), and any Contribution is conditioned upon the implementation of the Extension. No Contribution will occur if the Extension is not approved or is not completed. The amount of each Contribution will not bear interest and will be repayable by the Company to the Sponsor or its designees upon consummation of its initial business combination. The Company will have the sole discretion whether to continue extending for additional calendar months until May 8, 2025. If the Company opts not to utilize any remaining portion of the Extension Period, then the Company will liquidate and dissolve promptly in accordance with its Articles, and its Sponsor’s obligation to make additional contributions will terminate.
In connection with the above announcement of the Contribution to be made by the Sponsor or its designees if the Extension is approved, the Company is also postponing the Special Meeting from the originally scheduled 10:00 a.m. Eastern time on Friday, November 1, 2024, to 10:00 a.m. Eastern time on Wednesday, November 6, 2024. At the Special Meeting, shareholders will be asked to vote on the proposal to extend the date by which the Company must consummate an initial business combination from November 8, 2024 to May 8, 2025, or such earlier date as determined by the Company’s board of directors.
As a result of this change, the Special Meeting will now be held at 10:00 a.m., Eastern time, on November 6, 2024, via a live webcast at https://www.cstproxy.com/finnovateacquisition/egm2024. Also as a result of this change, the deadline for holders of the Company’s Class A ordinary shares issued in the Company’s initial public offering to submit their shares for redemption in connection with the Extension, is being extended to 5:00 p.m., Eastern time, on Monday, November 4, 2024.
The Company plans to continue to solicit proxies from shareholders during the period prior to the Special Meeting. Only the holders of the Company’s ordinary shares as of the close of business on October 2, 2024, the record date for the Special Meeting, are entitled to vote at the Special Meeting.
About Finnovate Acquisition Corp.
Finnovate Acquisition Corp. (Nasdaq: FNVT) is a blank check company incorporated in the Cayman Islands with the purpose of acquiring one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These forward-looking statements and factors that may cause such differences include, without limitation, uncertainties relating to the Company’s shareholder approval of the Extension, its inability to complete an initial business combination within the required time period or, and other risks and uncertainties indicated from time to time in filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading “Risk Factors” and in other reports the Company has filed, or to be filed, with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Participants in the Solicitation
Finnovate and its directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the securityholders of the Company in favor of the approval of the Extension Proposal. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors and officers in the Company’s definitive proxy statement filed with the SEC on October 15, 2024 (as may be amended, the “Proxy Statement”), which may be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release s shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Extension. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.
Additional Information and Where to Find It
Finnovate urges investors, shareholders and other interested persons to read the Proxy Statement as well as other documents filed by the Company with the SEC, because these documents will contain important information about the Company and the Extension. Shareholders may obtain copies of the Proxy Statement, without charge, at the SEC’s website at www.sec.gov or by directing a request to: Advantage Proxy, Inc., P.O. Box 10904, Yakima, WA 98909, Attn: Karen Smith.
INVESTOR RELATIONS CONTACT
Finnovate Acquisition Corp.
Calvin Kung
265 Franklin Street
Suite 1702
Boston, MA 02110
+1 (424) 253-0908
Source: GlobeNewswire (MIL-OSI)
The Acclaim® Fully Implanted Cochlear Implant is differentiated from existing cochlear implants and may offer new option for hearing loss patients
WHITE BEAR LAKE, Minnesota, Nov. 01, 2024 (GLOBE NEWSWIRE) — Envoy Medical®, Inc. (“Envoy Medical”) (NASDAQ: “COCH”), a hearing health company focused on fully implanted hearing systems, today announces that its Investigational Device Exemption (IDE) application for its pivotal study of the Acclaim® Fully Implanted Cochlear Implant has been approved by the U.S. Food and Drug Administration (FDA). The Acclaim® technology includes an implanted sensor designed to leverage the natural anatomy of the ear to capture sound, making it different from existing cochlear implants on the market.
“Receiving FDA approval to initiate this pivotal study marks a significant milestone in our efforts to bring this breakthrough hearing device to more people with severe to profound hearing loss,” said Brent Lucas CEO of Envoy Medical. “Currently, it is estimated that roughly 95% of patients with significant hearing loss who could benefit from a cochlear implant have not received one. We believe the differences in our device’s design provide an opportunity to pursue this important therapy in a more discrete manner and offer candidates a welcomed new option that may get more patients to embrace the potential benefits of a cochlear implant.”
The Company plans to select some of the top cochlear implant institutions in the U.S. as investigational sites for the study. As IRB approvals are obtained, the Company will share information on the investigational sites for interested patients.
“The excitement around the Acclaim® device is palpable, and we have been extremely humbled by the number of top-tier cochlear implant programs that want to participate in this study,” said Lucas. “While we are not able to select every site for this study, we believe that this excitement and significant interest across the country is a strong signal of our potential ability to penetrate the market should we be successful in gaining commercial approval.”
The FDA approved the IDE application as a staged clinical study. This allows preliminary clinical data to be gathered on a subset of patients prior to expanding enrollment to the full subject cohort. As with any investigational device, approval of an IDE application does not ensure that the results of the investigation will provide a reasonable assurance of the safety and effectiveness or assure a determination of approval for a premarket submission.
Lucas continued, “The last two weeks demonstrate our passionate commitment to innovation, competition, and change in the hearing industry. Last week marked the American Medical Association’s approval of new CPT codes for totally implantable active middle ear implants, which opens new opportunities for our already FDA-approved Esteem® device. This week, we are celebrating IDE approval to start a pivotal study for our investigational Acclaim® device. Two devices serving two patient populations, both moving the hearing industry forward. We are building a company that is positioning itself to be a market segment leader in the hearing industry. We are excited about what the future holds for Envoy Medical.”
About the Fully Implanted Acclaim® Cochlear Implant
We believe the fully implanted Acclaim Cochlear Implant (“Acclaim CI”) is a first-of-its-kind hearing device. Envoy Medical’s fully implanted technology includes a sensor designed to leverage the natural anatomy of the ear instead of a microphone to capture sound.
The Acclaim CI is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids. The Acclaim CI is expected to be indicated for adults who have been deemed adequate candidates by a qualified physician.
The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019.
CAUTION The fully implanted Acclaim Cochlear Implant is an investigational device. Limited by Federal (or United States) law to investigational use.
About the Esteem® Fully Implanted Active Middle Ear Implant (FI-AMEI)
The Esteem fully implanted active middle ear implant (FI-AMEI) is the only FDA-approved, fully implanted* hearing device for adults diagnosed with moderate to severe sensorineural hearing loss allowing for 24/7 hearing capability using the ear’s natural anatomy. The Esteem FI-AMEI hearing implant is invisible and requires no externally worn components and nothing is placed in the ear canal for it to function. Unlike hearing aids, you never put it on or take it off. You can’t lose it. You don’t clean it. The Esteem FI-AMEI hearing implant offers true 24/7 hearing.
*Once activated, the external Esteem FI-AMEI Personal Programmer is not required for daily use.
Important safety information for the Esteem FI-AMEI can be found at: https://www.envoymedical.com/safety-information.
Additional Information and Where to Find It
Copies of the documents filed by Envoy Medical with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-Looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Such statements may include, but are not limited to, statements regarding the expectations of Envoy Medical concerning the outlook for its business, productivity, plans and goals for future operational improvements and capital investments; the Acclaim CI being the first to market fully implanted cochlear implant, the timing of IRB approvals, site activations, enrollment, and beginning of Envoy Medical’s clinical trial, the timing of and FDA’s position related to expanding the clinical trial to full cohort, the result of the clinical trial, the timing and results of clinical trials of the Acclaim CI, and the participation of any institution in such trials; the safety, performance, and market acceptance of the Acclaim CI; and any information concerning possible or assumed future operations of Envoy Medical. The forward-looking statements contained in this press release reflect Envoy Medical’s current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause its actual results to differ significantly from those expressed in any forward-looking statement. Envoy Medical does not guarantee that the events described will happen as described (or that they will happen at all). These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to changes in the market price of shares of Envoy Medical’s Class A Common Stock; changes in or removal of Envoy Medical’s shares inclusion in any index; Envoy Medical’s success in retaining or recruiting, or changes required in, its officers, key employees or directors; unpredictability in the medical device industry, the regulatory process to approve medical devices, and the clinical development process of Envoy Medical products; competition in the medical device industry, and the failure to introduce new products and services in a timely manner or at competitive prices to compete successfully against competitors; disruptions in relationships with Envoy Medical’s suppliers, or disruptions in Envoy Medical’s own production capabilities for some of the key components and materials of its products; changes in the need for capital and the availability of financing and capital to fund these needs; changes in interest rates or rates of inflation; legal, regulatory and other proceedings could be costly and time-consuming to defend; changes in applicable laws or regulations, or the application thereof on Envoy Medical; a loss of any of Envoy Medical’s key intellectual property rights or failure to adequately protect intellectual property rights; the effects of catastrophic events, including war, terrorism and other international conflicts; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements” in the Annual Report on Form 10-K filed by Envoy Medical on April 1, 2024, and in other reports Envoy Medical files, with the SEC. If any of these risks materialize or Envoy Medical’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While forward-looking statements reflect Envoy Medical’s good faith beliefs, they are not guarantees of future performance. Envoy Medical disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Envoy Medical.
###
Investor Contact:
CORE IR
516-222-2560
investorrelations@envoymedical.com
Source: GlobeNewswire (MIL-OSI)
GRAND RAPIDS, Mich., Nov. 01, 2024 (GLOBE NEWSWIRE) — Blackford Capital (“Blackford”), a leading lower middle market private equity firm, is excited to announce the appointment of John Snowden as Chief Executive Officer of its rapidly growing Patio Consolidation Platform (“Platform”), which serves as a leader in the Outdoor Living and Recreation space. Mr. Snowden’s appointment will take effect on November 4. With an extensive background in driving operational excellence, strategic acquisitions, and digital transformation, Mr. Snowden will spearhead Blackford’s vision to “Own the Backyard” by building a comprehensive, omni-channel platform that capitalizes on the booming outdoor living market.
Blackford’s Patio Platform currently includes notable brands like Starfire Direct, Artificial Turf Supply, Patio Productions, Harmonia Living, and the recent addition, Empire Distributing, a leader in hearth and outdoor living products. Together, these businesses serve a diverse customer base across digital and traditional retail channels, strengthening Blackford’s market reach in the growing home and outdoor lifestyle sector.
Mr. Snowden brings to Blackford over three decades of leadership experience, including roles as Chief Operating Officer at Recom and Chief Executive Officer of Trademark Global LLC. His proven track record includes transforming mid-market companies into powerhouse brands through data-driven insights, supply chain optimization, and successful integrations of multiple acquisitions. Under his leadership, Blackford’s Patio Platform will focus on expanding its product portfolio and leveraging digital and traditional distribution channels to create a one-stop solution for outdoor living needs.
“We’re thrilled to welcome John Snowden as the CEO of our Patio Consolidation Platform. A man of great character, his vision and commitment to operational rigor align perfectly with our strategic goals for the Platform,” said Martin Stein, Founder and Managing Partner of Blackford Capital. “With John’s leadership, we are poised to consolidate our current companies, maximize the incredible product lineup and channel expertise across the portfolio and ultimately expand our presence and deliver unparalleled value to our customers.”
Snowden’s appointment comes at a pivotal moment as Blackford continues to execute its consolidation strategy, designed to capitalize on demographic trends favoring outdoor home improvements, with the potential to capture even greater market share through strategic acquisitions, cross-selling synergies, and a streamlined, customer-centric approach. The consolidated companies will provide a full spectrum of high-end outdoor products, including patio furniture, firepits, artificial turf, and more, through an omni-channel presence spanning e-commerce and dealer networks.
About Blackford Capital
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit www.blackfordcapital.com.
Media Contact:
Jackson Lin
Lambert
(646) 717-4593
jlin@lambert.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c03f69f-76d4-46d2-9b07-81ff8ea60d65
Source: GlobeNewswire (MIL-OSI)
NORTH CONWAY, N.H., Nov. 01, 2024 (GLOBE NEWSWIRE) — Northway Financial, Inc. (the “Company”) (OTCQB: NWYF), the parent company of Northway Bank (the “Bank”), today reported net income for the quarter ended September 30, 2024 of $1.2 million, or $0.45 per basic common share, compared to $1.6 million, or $0.58 per basic common share for the quarter ended September 30, 2023. For the nine months ended September 30, 2024, the Company reported net income of $3.6 million, or $1.31 per basic common share, compared to $4.7 million, or $1.71 per basic common share for the same period in 2023.
President and CEO William J. Woodward commented: “During the third quarter we continued to reduce our reliance on wholesale funding by putting a focus on retaining deposits and limiting our lending. Wholesale funding decreased by $122 million, significantly reducing our reliance on wholesale funding. The third quarter was marked by the announcement of our pending merger with Camden National Corporation. The closing date of the merger is still to be determined but we anticipate the merger to be completed in the first quarter of 2025. We will be holding a special shareholder meeting to approve the merger agreement. The details of the merger and the shareholder meeting will be sent to all shareholders in the coming weeks. Please look out for the information and return your proxy card as soon as possible. The Board of Directors have unanimously approved the merger, and your support, as always, is greatly appreciated.”
Financial Highlights
| Northway Financial, Inc. | |||||||||||||
| Selected Financial Highlights | |||||||||||||
| (Unaudited) | |||||||||||||
| (Dollars in thousands, except per share data) | Three Months Ended | Nine Months Ended | |||||||||||
| 9/30/2024 | 9/30/2023 | 9/30/2024 | 9/30/2023 | ||||||||||
| Interest and Dividend Income | $ | 12,772 | $ | 13,372 | $ | 37,576 | $ | 38,260 | |||||
| Interest Expense | 5,046 | 4,572 | 14,223 | 12,002 | |||||||||
| Net Interest and Dividend Income | 7,726 | 8,800 | 23,353 | 26,258 | |||||||||
| Provision for Credit Losses | – | – | – | – | |||||||||
| All Other Noninterest Income | 1,445 | 1,036 | 3,819 | 3,535 | |||||||||
| Noninterest Expense | 8,041 | 7,720 | 23,837 | 24,030 | |||||||||
| Net Income Before Gain (Loss) on Securities | 1,130 | 2,116 | 3,335 | 5,763 | |||||||||
| Gain (Loss) on Securities Available-for-Sale, Net | – | – | – | – | |||||||||
| (Loss) Gain on Marketable Equity Securities | 249 | (199 | ) | 515 | (309 | ) | |||||||
| Income before Income Tax (Benefit) Expense | 1,379 | 1,917 | 3,850 | 5,454 | |||||||||
| Income Tax (Benefit) Expense | 133 | 305 | 233 | 744 | |||||||||
| Net Income | $ | 1,246 | $ | 1,612 | $ | 3,617 | $ | 4,710 | |||||
| Net Income Available to Common Stockholders | $ | 1,246 | $ | 1,612 | $ | 3,617 | $ | 4,710 | |||||
| Earnings per Common Share, Basic | $ | 0.45 | $ | 0.58 | $ | 1.31 | $ | 1.71 | |||||
| 9/30/2024 | 12/31/2023 | 9/30/2023 | ||||||||
| Balance Sheet | ||||||||||
| Total Assets | $ | 1,221,077 | $ | 1,290,467 | $ | 1,357,654 | ||||
| Cash and Due from Banks and Interest-Bearing Deposits | 22,584 | 68,887 | 74,139 | |||||||
| Securities Available-for-Sale, at Fair Value | 241,224 | 246,756 | 261,502 | |||||||
| Marketable Equity Securities, at Fair Value | 3,104 | 2,589 | 3,405 | |||||||
| Loans Held-for-Sale | 1,555 | – | – | |||||||
| Loans, Net | 900,517 | 909,781 | 956,053 | |||||||
| Total Liabilities | 1,141,363 | 1,217,230 | 1,299,301 | |||||||
| Non Municipal Non-Maturity Deposits | 712,708 | 734,741 | 763,784 | |||||||
| Municipal Non-Maturity Deposits | 113,959 | 133,100 | 138,674 | |||||||
| Certificates of Deposit | 183,576 | 127,726 | 143,868 | |||||||
| Securities Sold Under Agreements to Repurchase | 49,722 | 55,353 | 68,728 | |||||||
| Short-Term Borrowings | – | 65,000 | 78,600 | |||||||
| Long-Term Debt | 45,000 | 60,000 | 60,000 | |||||||
| Junior Subordinated Debentures | 20,620 | 20,620 | 20,620 | |||||||
| Stockholders’ Equity | 79,714 | 73,237 | 58,353 | |||||||
| Profitability and Efficiency | ||||||||||
| Net Interest Margin | 2.59 | % | 2.63 | % | 2.67 | % | ||||
| Yield on Earning Assets | 4.11 | 3.90 | 3.86 | |||||||
| Cost of Interest Bearing Liabilities | 1.98 | 1.63 | 1.54 | |||||||
| Book Value Per Share of Common Shares Outstanding | $ | 28.97 | $ | 26.62 | $ | 21.21 | ||||
| Tangible Book Value Per Share of Common Shares Outstanding | 25.18 | 22.83 | 17.42 | |||||||
| Common Shares Outstanding | 2,751,650 | 2,751,650 | 2,751,650 | |||||||
| Weighted Average Number of Common Shares, Basic | 2,751,650 | 2,751,650 | 2,751,650 | |||||||
| Capital Ratios for the Bank | ||||||||||
| Tier 1 Core Capital to Average Assets | 9.09 | % | 8.30 | % | 8.23 | % | ||||
| Common Equity Risk-Based Capital | 15.27 | 14.40 | 13.91 | |||||||
| Tier 1 Risk-Based Capital | 15.27 | 14.40 | 13.91 | |||||||
| Total Risk-Based Capital | 16.52 | 15.65 | 15.16 | |||||||
About Northway Financial, Inc.
Northway Financial, Inc., headquartered in North Conway, New Hampshire, is a bank holding company. Through its subsidiary bank, Northway Bank, the Company offers a broad range of financial products and services to individuals, businesses, and the public sector from its 16 banking offices and its loan production offices located in Bedford and Portsmouth, New Hampshire.
Forward-looking Statements
Statements included in this press release that are not historical or current fact are “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Northway Financial, Inc. disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events or circumstances.
No Offer or Solicitation
This communication is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the pending merger of Camden National Corporation (“Camden National”) and the Company (the “Merger”) and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Camden National, the Company or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Additional Information and Where to Find It
In connection with the Merger, Camden National has filed a registration statement on Form S-4 with the SEC, which also includes a proxy statement of Northway and a prospectus of Camden National, and Camden National will file other documents regarding the proposed transaction with the SEC. A definitive proxy statement/prospectus will also be sent to Northway stockholders seeking the required stockholder approval of the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF NORTHWAY ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS, WHEN THEY BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The documents filed by Camden National with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, the documents filed by Camden National may be obtained free of charge under the “Investor Relations” section of Camden National’s website at http://www.camdennational.bank. Alternatively, these documents, when available, can be obtained free of charge from Camden National upon written request to Camden National Corporation, Attn: Corporate Secretary, 2 Elm Street, Camden, Maine 04843.
Participants in Solicitation
Camden National, Northway, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the U.S. Securities and Exchange Commission (the “SEC”). Information regarding Camden National’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 5, 2024, and certain other documents filed by Camden National with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.
Source: GlobeNewswire (MIL-OSI)
GREENWICH, Conn., Nov. 01, 2024 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (Nasdaq: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results and related information:
| Month Ending | Record Date | Payment Date | Amount Per Share | |
| January 31, 2025 | January 17, 2025 | January 31, 2025 | $0.09 | |
| February 28, 2025 | February 14, 2025 | February 28, 2025 | $0.09 | |
| March 31, 2025 | March 17, 2025 | March 31, 2025 | $0.09 | |
| Preferred Shares Type |
Per Share Dividend Amount Declared | Record Dates | Payment Dates | |
| 6.25% – Series 2027 | $ | 0.13020833 | December 17, 2024, January 17, 2025, February 14, 2025 | December 31, 2024, January 31, 2025, February 28, 2025 |
| 6.00% – Series 2029 | $ | 0.12500000 | December 17, 2024, January 17, 2025, February 14, 2025 | December 31, 2024, January 31, 2025, February 28, 2025 |
| 7.125% – Series 2029 | $ | 0.14843750 | December 17, 2024, January 17, 2025, February 14, 2025 | December 31, 2024, January 31, 2025, February 28, 2025 |
In accordance with their terms, each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.25%, 6.00% and 7.125%, respectively, of the $25.00 per share liquidation preference, or $1.5625, $1.5000 and $1.78125 per share per year, respectively. This fixed annual dividend rate is subject to adjustment under certain circumstances, but will not, in any case, be lower than 6.25%, 6.00% and 7.125% per year, respectively, for each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares and 7.125% Series 2029 Term Preferred Shares.
Supplemental Information Regarding Core Net Investment Income
We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis. This measure is not provided as a substitute for GAAP NII, but in addition to it. Our non-GAAP measures may differ from similar measures by other companies, even in the event of similar terms being utilized to identify such measures. Core NII represents GAAP NII adjusted for additional applicable cash distributions received, or entitled to be received (if any, in either case), on our CLO equity investments. Oxford Lane’s management uses this information in its internal analysis of results and believes that this information may be informative in assessing the quality of Oxford Lane’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons.
Income from investments in the “equity” class securities of CLO vehicles, for GAAP purposes, is recorded using the effective interest method; this is based on an effective yield to the expected redemption utilizing estimated cash flows, at current cost, including those CLO equity investments that have not made their inaugural distribution for the relevant period end. The result is an effective yield for the investment in which the respective investment’s cost basis is adjusted quarterly based on the difference between the actual cash received, or distributions entitled to be received, and the effective yield calculation. Accordingly, investment income recognized on CLO equity securities in the GAAP statement of operations differs from the cash distributions actually received by the Company during the period (referred to below as “CLO equity adjustments”).
Furthermore, in order for the Company to continue qualifying as a regulated investment company for tax purposes, we are required, among other things, to distribute at least 90% of our investment company taxable income annually. While Core NII may provide a better indication of our estimated taxable income than GAAP NII during certain periods, we can offer no assurance that will be the case, however, as the ultimate tax character of our earnings cannot be determined until after tax returns are prepared at the close of a fiscal year. We note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII.
The following table provides a reconciliation of GAAP NII to Core NII for the three months ended September 30, 2024:
| Three Months Ended | ||||||
| September 30, 2024 | ||||||
| Amount | Per Share Amount |
|||||
| GAAP net investment income | $ | 67,188,478 | $ | 0.22 | ||
| CLO equity adjustments | 32,164,525 | 0.10 | ||||
| Core net investment income | $ | 99,353,003 | $ | 0.32 | ||
We will host a conference call to discuss our second quarter results today, Friday, November 1, 2024 at 9:00 AM ET. Please call 1-833-470-1428, access code number 436588 to participate. A recording of the conference call will be available for replay for approximately 30 days following the call. The replay number is 1-866-813-9403, and the replay passcode is 813197.
A presentation containing additional details regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordlanecapital.com.
About Oxford Lane Capital Corp.
Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.
Forward-Looking Statements
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.
Contact:
Bruce Rubin
203-983-5280
Source: Samsung
Samsung Electronics today announced the installation of its Outdoor LED Signage XHB Series (P8) at the flagship location of Shinsegae Department Store in Seoul, South Korea. Unveiled during the “2024 Lights Up SEOUL, KOREA” event today, the installation is set to establish Myeongdong Square in Seoul as Korea’s new premier landmark, featuring a stunning media lighting display that illuminates the heart of Seoul’s iconic shopping district.
“Our LED displays present unlimited possibilities for places like Myeongdong to bear new elements of cultural significance,” said Hoon Chung, Executive Vice President of the Visual Display Business at Samsung Electronics. “This installation gives us an opportunity to showcase in the biggest way possible that our outdoor digital displays are built to engage, built to deliver impactful content, and built to last.”
Located within the Myeongdong Special Tourist Zone Area, Shinsegae Department Store is uniquely positioned as a free outdoor advertising zone that enables creative and expansive installations. Samsung’s massive outdoor LED signage featuring an anamorphic 8K display, wraps around the entire outer wall of the building, measuring 71.8 meters in width and 17.9 meters in height — equivalent in size to three basketball courts.
Spanning a total area of 1,285 square meters, the display is designed for resilience in harsh weather, featuring an IP66 rating for dust and water resistance, and UL 48 and UL 746C certifications1 for year-round durability. The installation is engineered for high visibility and vibrant color accuracy, with support for HDR10+ technology to deliver sharp contrast and rich visuals. With a max brightness of 8,000 nits,2 the display ensures exceptional clarity even in direct sunlight. Its high refresh rate of 7,680Hz minimizes flicker and the moiré effect,3 ensuring a stable display that remains visually crisp, even through camera lenses.
Samsung’s track record of success with digital signage spans prominent venues worldwide. In South Korea, Samsung provided the country’s largest ever high-definition LED signage to Coex SM Town, while transformative installations at New York’s Citi Field and Houston’s Minute Maid Park set new standards for in-stadium displays. At Citi Field, Samsung installed the largest scoreboard in professional baseball, featuring over 29,800 square feet of LED screens that immerse fans in the action from every angle. Similarly, at Minute Maid Park, Samsung’s high-definition LED technology redefined the fan experience with massive outdoor displays and a dynamic new main scoreboard, all designed to enhance the excitement of the game.
In Myeongdong, the new installation will not only host engaging advertisements and dynamic video content, but also transform into a breathtaking annual Christmas media façade, creating a festive atmosphere for visitors.
“Shinsegae’s media façade, beloved by global customers for the past 10 years, has now been recreated as Shinsegae Square. This transformation paves the way for it to become an iconic landmark of Seoul, making it not only a must-visit attraction but also a central hub for K-culture. We are excited to partner with Samsung to bring our customers unique experiences that blend heritage and digital technology,” Shinsegae spokesperson said.
Samsung’s Outdoor LED Signage is renowned for exceptional performance in demanding environments, evidenced by award-winning deployments at iconic venues such as Inglewood, California’s SoFi Stadium, which boasts the world’s largest LED videoboard ever built for sports, and the Formula 1 Las Vegas Grand Prix, where Samsung installed a 481-foot-long rooftop LED display in the shape of the F1 logo. As Myeongdong evolves into a global tourism destination, Samsung continues to lead with solutions that inspire and engage.
1 UL 48 and UL 746C certifications, issued by Underwriters Laboratories (UL), verify compliance with safety standards for electric signs and durability of materials in outdoor environments, including UV and weather resistance.2 Maximum brightness measured post-calibration; actual values may vary with conditions.3 The moiré effect is an undesirable visual phenomenon that occurs when repetitive patterns, such as lines, are captured in photographs.
Source: United Nations Economic Commission for Europe
Welcome to the first in a series of annual discussions under the Trees in Dry Cities Presentation & Discussion Series. These sessions are designed to bring critical issues related to urban forest management to the forefront, providing a platform for Coalition members and urban forestry professionals to share knowledge, best practices, and lessons learned. This series will serve as a vital resource for all stakeholders involved in the management of urban forests, addressing both immediate and long-term challenges.
The first webinar, Drought – Water Accessibility and Availability: Challenges, Successes, and Failures, will focus on the increasingly pressing issue for cities worldwide. In light of the growing urgency of climate change and its profound impact on water resources, the discussion will adopt a broad perspective to encourage diverse contributions and promote collaborative, solution-oriented dialogue.
Source: United States of America – The White House (video statements)
Las Vegas, NV
US Senate News:
Source: United States Senator for Kentucky Mitch McConnell
Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) issued the following statement today regarding the confirmation of Governor Kristi Noem (R-SD) as U.S. Secretary of Homeland Security:
“I was proud to vote for Governor Kristi Noem to serve as Secretary of Homeland Security. Secretary Noem’s familiarity with Congress and her executive experience as Governor of South Dakota will be immediately valuable as she gets to work on an array of domestic security threats, from confronting natural disasters to guarding our coasts to maintaining our cyber security defenses. Foremost among the Department’s complicated missions is addressing the ongoing security and humanitarian crisis at our southern border. The American people handed this Administration a crystal-clear mandate to clean up the mess at our border from the last four years. I look forward to working with Secretary Noem to do just that.”
Source: New Zealand Police (National News)
Police can confirm one person has died in hospital following a crash on the Winton Lorneville Highway on Tuesday 21 January.
Two people were transported to hospital in a critical condition following the crash. One person passed away yesterday as a result of the injuries sustained.
Police extend our condolences to the family and loved ones of those involved.
The second person remains in hospital in a critical condition.
Enquiries into the circumstances of the crash are ongoing.
ENDS
Issued by Police Media Centre
Source: Agenzia Fides – MIL OSI
Saturday, 25 January 2025
La Serena (Agenzia Fides) – “Let us all open our hearts. You, especially young people, open your hearts to Jesus. Do it, do not be afraid, because the Lord needs you today, he needs all of us today”. With these words, the Auxiliary Bishop of the Archdiocese of La Serena, Henry Joseph Balzán, addressed the young people gathered for the first National Youth Day in Chile. The Prelate invited the young people to reflect on who the excluded of today are and to become instruments of inclusion and support, following the example of Jesus.“The Lord wants your heart to be ready to help the excluded of today, to seek them, to include them and to extend a hand to them. Jesus has called you, he wants to act through you. Do not say no to him”, said Bishop Balzán.The opening event, attended by thousands of young people, took place on January 22nd and marked the beginning of a series of almost a week of meetings, dialogues of hope, solidarity actions and artistic and cultural events that will take place in the cities of La Serena and Coquimbo until Sunday, January 26th.The opening Mass, presided over by the Auxiliary Bishop of La Serena and con-celebrated by about twenty bishops and as many priests from various dioceses, was accompanied by musical performances. “The musical accompaniment is intended to make the Mass an experience that will remain etched in the hearts of thousands of young people from all over Chile who will come together from Arica to Tierra del Fuego to celebrate faith, fraternity and hope together,” the organizers said in a statement sent to Fides.Bishop Balzán, member of the National Commission for the Day, in his welcoming speech emphasized the fact that the beginning of the day was celebrated on the feast of the young Blessed Laura Vicuña, born in Santiago de Chile, a student at the Institute of the Daughters of Mary Help of Christians, who at the age of thirteen offered her life to God for the conversion of her mother. She was beatified by John Paul II on September 3, 1988. Bishop Balzán, a member of the Youth Day Organizing Committee, stressed in his welcoming speech that this event of the Catholic Church in Chile takes place in the context of the beginning of the Jubilee proclaimed by Pope Francis, whose motto is part of the Youth Day: “National Youth Day 2025: Young Pilgrims of Hope”.After the opening on January 22, the meetings on January 23 focused on the theme “Jesus is our hope”. Today, January 24, has the theme “Witnesses of Hope”, in reference to the solidarity missions carried out by the young people in the midst of the different realities of the parish areas that have welcomed them. Saturday, January 25, has the theme “You are the light on our path”, with the young people gathering for the last Eucharistic celebrations in their parishes before moving to the Lighthouse of La Serena, where the common Eucharistic adoration vigil will be celebrated. Finally, on Sunday 26 May, there will be a day of “celebration and thanksgiving” which will end with a solemn closing mass. (AP) (Agenzia Fides, 25/1/2025)
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