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  • MIL-OSI USA: The Evolving Threat of ISKP – Caspian Tides Podcast

    Source: United States Institute of Peace

    Welcome to Caspian Tides, the Caspian Policy Center’s new monthly podcast unpacking the major issues facing the South Caucasus and Central Asia.

    On our inaugural episode, we delve into Islamic State – Khorasan Province, the Afghanistan-based offshoot of the Islamic State. In recent months, ISKP has grabbed major headlines not only for attacks conducted within Afghanistan, but also for major attacks in Iran, Russia, and Europe. What distinguishes ISKP from other terror groups and how does it interact with Central Asia? To answer these questions and more, we welcome our expert guests, Dr. Tricia Bacon of American University and Dr. Gavin Helf of the United States Institute of Peace.

    MIL OSI USA News –

  • MIL-OSI USA: The Pig Butchering Invasion Has Begun – Wired

    Source: United States Institute of Peace

    Scam compounds have also been broken up in Peru and Sri Lanka. And there has even been alleged trafficking in truly unexpected places like the Isle of Man, a British territory where almost 100 people were working between 2022 and 2023 as part of a pig butchering operation, according to a BBC investigation from August.

    “The People’s Republic of China–origin criminal groups that are behind these sophisticated forms of scamming are looking to build networks and hubs all around the globe simply because this is so lucrative,” says Jason Tower, the country director for Burma and a long-time security analyst covering China and Southeast Asia at the United States Institute of Peace.

    Pig butchering scam centers rely upon multiple layers of criminality to operate, encompassing the recruitment of trafficked people, running scam centers on a day-to-day basis, the development of technology to scam thousands of people, and the sophisticated money laundering required to process billions of dollars. As Chinese authorities have cracked down on Chinese-speaking criminal organizations operating scam centers across Southeast Asia, the groups have likely continued to spread their operations, albeit at a smaller scale.

    “I would say it was an intentional hedging strategy, seemingly to diversify the geographic basis of operation and ultimately ensure business continuity,” says John Wojcik, an organized crime analyst at the United Nations Office on Drugs and Crime. “But at the same time, I think it’s also an immediate reaction to mounting law enforcement pressure and regulatory tightening in this region.”

    In addition to the geographic spread of pig butchering operations, researchers note that there has also been a shift in the people targeted by traffickers to “work” in scam compounds. “Over the past two years, the countries targeted for recruitment have gradually shifted westward,” says Eric Heintz, a global analyst at human rights organization International Justice Mission.

    Many trafficking victims within the early years of pig butchering were based in Southeast Asian countries, but this soon shifted to South Asian nations such as India and Nepal, Heintz says. “We have since seen recruitment posts targeting East African nations like Kenya and Uganda, and then West African countries like Morocco, and then, most recently, we have seen posts targeting El Salvador.”

    As always, the spread and evolution of pig butchering is driven by how profitable it can be. Researchers say that another alarming trend involves people from around the world choosing to go work in scam centers or even being liberated from forced labor and returning to keep working voluntarily. As long as the money keeps coming in, pig butchering will keep spreading around the world.

    “Fraud is not being seen as a serious crime—not like drugs, not like terrorism,” Humanity Research Consultancy’s Chiang says. “Globally, we need to start shifting that idea, because it creates the same kind of damage, and maybe even more because the amount of money we’re talking about is so huge. We are racing against time.”

    MIL OSI USA News –

  • MIL-OSI USA: Aiken man arrested on Child Sexual Abuse Material* and related chargesRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announced the arrest of William Daniel Mayes, 54, of Aiken, S.C. on seven charges connected to the sexual exploitation of minors. Internet Crimes Against Children (ICAC) Task Force investigators with the Aiken County Sheriff’s Office made the arrest. Investigators with the Attorney General’s Office, S.C. Probation, Parole, and Pardon, and Homeland Security Investigations, all also members of the state’s ICAC Task Force, assisted with the investigation. 

     

    Investigators received a CyberTipline report from the National Center for Missing and Exploited Children (NCMEC) which led them to Mayes. Investigators state Mayes recorded a person without their consent and possessed files of child sexual abuse material.  

     

    Mayes was arrested on October 29, 2024. He is charged with five counts of sexual exploitation of a minor, third degree (§16-15-410), a felony offense punishable by up to ten years imprisonment on each count; and two counts of voyeurism (§16-17-470(B)), a misdemeanor offense punishable by up to 3 years imprisonment for a first offense on each count.

     

    The case will be prosecuted by the Attorney General’s Office.

     

    Attorney General Wilson stressed all defendants are presumed innocent unless and until they are proven guilty in a court of law.

     

     

    * Child sexual abuse material, or CSAM, is a more accurate reflection of the material involved in these heinous and abusive crimes. “Pornography” can imply the child was a consenting participant.  Globally, the term child pornography is being replaced by CSAM for this reason.

    MIL OSI USA News –

  • MIL-OSI USA: Anderson man arrested on 10 Child Sexual Abuse Material* chargesRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announced the arrest of Christopher Lee Hagood, 45, of Anderson, S.C., on 10 charges connected to the sexual exploitation of minors. Internet Crimes Against Children (ICAC) Task Force investigators with the Anderson County Sheriff’s Office made the arrest. Investigators with the Attorney General’s Office, also a member of the state’s ICAC Task Force, assisted with the investigation.

    Investigators received a CyberTipline report from the National Center for Missing and Exploited Children (NCMEC) which led them to Hagood. Investigators state Hagood distributed files of child sexual abuse material.  

    Hagood was arrested on October 22, 2024. He is charged with 10 counts of sexual exploitation of a minor, second degree (§16-15-405), a felony offense punishable by up to 10 years imprisonment on each count.

    This case will be prosecuted by the Attorney General’s Office.

    Attorney General Wilson stressed all defendants are presumed innocent unless and until they are proven guilty in a court of law.

    * Child sexual abuse material, or CSAM, is a more accurate reflection of the material involved in these heinous and abusive crimes. “Pornography” can imply the child was a consenting participant.  Globally, the term child pornography is being replaced by CSAM for this reason

    MIL OSI USA News –

  • MIL-OSI USA: News 10/30/2024 Blackburn, Cornyn, GOP Colleagues Introduce Bill to Stop Biden-Harris Amnesty Program

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    NASHVILLE, Tenn. – U.S. Senators Marsha Blackburn (R-Tenn.), John Cornyn (R-Texas), and 12 of their colleagues introduced the Visa Integrity Preservation Act, which would close a loophole in current law that the Biden-Harris administration exploited in a June 2024 executive action to grant amnesty to illegal immigrants who entered the United States without inspection or overstayed a visa:
    “Since day one in office, the Biden-Harris administration has made it crystal clear that they support an open border and providing mass amnesty to illegal immigrants through unlawful catch-and-release programs,” said Senator Blackburn. “Our Visa Integrity Preservation Act would stop the Biden-Harris administration from devaluing U.S. citizenship and making illegal immigration legal.” 
    “For almost four years, the Biden-Harris administration has waived their magic amnesty wand to create unlawful programs that allow any and every person to enter and stay in the U.S. – legally or not,” said Senator Cornyn. “By strengthening the laws already on the books, our legislation would root out this massive pull factor while also preserving the integrity of our employment-based nonimmigrant visa program, and I’m grateful to my colleagues for their support.”

    BACKGROUND:

    Under current immigration law, illegal immigrants who overstay their visas cannot reenter the United States for up to 10 years if they leave, and those who illegally enter the U.S. are not allowed to reenter at all. Federal law also requires that temporary visa applicants interview abroad at a U.S. consulate before they can receive their visas, so illegal immigrants are not eligible to regularize their status using the temporary visa programs.  The law does allow the U.S. Secretary of State to waive the consular interview requirement, but only on a case-by-case basis where in the national interest of the United States or in emergency situations.
    In June 2024, the Biden-Harris administration announced a new initiative to grant amnesty to over half a million illegal immigrants, including spouses of American citizens. As part of that initiative, President Biden and Vice President Harris waived the consular interview requirement for nonimmigrant visas, enabling immigrants who have illegally entered the U.S. or overstayed a visa to obtain temporary work visas. The Biden-Harris administration’s waiving of this policy encroaches on Congress’s authority and threatens to transform nonimmigrant visa programs into a tool to provide amnesty to illegal immigrants.

    VISA INTEGRITY PRESERVATION ACT:

    The Visa Integrity Preservation Act would amend the Immigration and Nationality Act to clarify that immigrants who have entered the U.S. illegally or overstayed a visa for more than 180 days are not eligible for a waiver of the in-person consular interview requirement and would instead be required under all circumstances to depart the U.S. for an interview before they could receive a nonimmigrant visa. Under existing law, they are barred from reentering the U.S. upon presenting for inspection at a Port of Entry.

    CO-SPONSORS:

    This legislation is also co-sponsored by Ted Cruz (R-Texas), Thom Tillis (R-N.C.), Jim Risch (R-Idaho), Mike Crapo (R-Idaho), Ted Budd (R-N.C.), Dan Sullivan (R-Alaska), Steve Daines (R-Mont.), Katie Britt (R-Ala.), Bill Hagerty (R-Tenn.), Pete Ricketts (R-Neb.), James Lankford (R-Okla.), and Tommy Tuberville (R-Ala.). 

    MIL OSI USA News –

  • MIL-OSI USA: Scott, Colleagues to Lead Legislation to Replenish the SBA Disaster Loan Program Following Hurricanes Helene and Milton

    US Senate News:

    Source: United States Senator for South Carolina Tim Scott
    WASHINGTON — U.S. Senator Tim Scott (R-S.C.) joined Senators Thom Tillis (R-N.C.), Ted Budd (R-N.C.), Bill Cassidy, M.D. (R-La.), and Rick Scott (R-Fla.) in announcing plans to introduce legislation that would replenish the Small Business Administration (SBA) Disaster Loan Program. The senators plan to seek passage of the legislation when Congress returns to session. On October 15th, the SBA announced the Disaster Loan Fund had run out of money.
    “Hurricane Helene brought a level of devastation to South Carolina we haven’t seen since Hugo. With a natural disaster of this magnitude, Congress should take the opportunity to show leadership and help ease the pain of those who have lost everything,” said Senator Tim Scott. “Communities back home and in surrounding states have come together to recover, but it will take every possible effort to get us back to where we were.”
    “The SBA Disaster Loan Program running out of funds risks delays in processing the loans of those affected by Helene and Milton and their ability to get their lives back on track,” said Senator Tillis. “That is why I am leading legislation to replenish this fund when Congress returns to Washington, and I look forward to working across the aisle to pass a long-term disaster aid package that will provide additional resources to help make the victims of these hurricanes whole again.”
    “The citizens of Western North Carolina are some of the toughest and most resilient people in this country,” said Senator Budd. “As they recover and rebuild their communities, they must be able to access disaster loans from SBA. This recovery will take many years, and I look forward to working with my colleagues to cut through the delays and provide WNC with the resources they need as quickly as possible.”
    “Hurricanes Francine, Helene, and Milton hit us hard, but Louisianans and Americans are resilient,” said Dr. Cassidy. “This funding is essential to help small businesses recover from these storms and support our local economies.”
    “We cannot allow frontline federal agencies, like the SBA, to run out of disaster relief funds. This is especially important in the wake of Hurricanes Helene and Milton which devastated Florida, North Carolina and communities across the Southeast U.S.,” said Senator Rick Scott. “I continue to call on Leader Schumer to immediately reconvene the Senate so we can fund disaster relief functions at FEMA, the SBA, USDA and other agencies to get folks what they need and deserve. I won’t stop fighting to get this done and am proud to join my colleagues to introduce a bill that funds SBA disaster loans and makes sure the federal government is a reliable partner as families continue their recovery.”
    The Restoring an Economic Lifeline with Immediate Emergency Funding (Relief) Act would appropriate $550 million to fund the SBA Disaster Loan Program Account, which would provide $2.475B in lending capacity projected to last until the end of 2024.
    Read text of the bill here.

    MIL OSI USA News –

  • MIL-OSI USA: Senators Carper, Coons, colleagues push administration to release additional seasonal work visas to support small businesses

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WILMINGTON, Del. – U.S. Senators Tom Carper (D-Del.), Chris Coons (D-Del.), Angus King (I-Maine), Mike Rounds (R-S.D.), and 36 of their colleagues sent a bipartisan letter to Secretary Alejandro Mayorkas of the U.S. Department of Homeland Security (DHS) and Acting Secretary Julie Su of the U.S. Department of Labor, urging the departments to address the seasonal labor shortage by releasing the maximum allowable number of additional H-2B visas for fiscal year 2025.
    Employers must first make a concerted effort to hire American works for open positions, but when there are not enough Americans to fill temporary positions, H-2B visas help small businesses meet their labor needs. During the busy summer seasons, Delaware businesses – especially in the agriculture and tourism sectors – are often dependent on foreign workers given local staffing shortages. Releasing the maximum number of H-2B visas will help Delaware’s farms operate at full capacity and its beach towns remain open for visitors.
    “Many employers turn to the H-2B program to meet their workforce needs to not only sustain their businesses, but also support their American workers,” the senators wrote. “The H-2B program places requirements on employers to recruit U.S. workers, who are intentionally prioritized by the program and also receive demonstrated, positive impacts from their seasonal colleagues. In fact, a 2020 Government Accountability Office report concluded that ‘counties with H-2B employers generally had lower unemployment rates and higher average weekly wages than counties that do not have any H-2B employers.’
    “The most current employment data illustrates the workforce struggles of seasonal businesses nationwide,” the senators continued. “The Department of Labor’s Job Openings and Labor Turnover Surveys … show the rate of job openings have increased year over year for the industries that represent the top five H-2B occupations. As you know, the [fiscal year] 2025 H-2B first half fiscal year cap was met on September 18, 2024 – roughly three weeks earlier than the cap was met in [fiscal year] 2024. The result is that seasonal employers whose peak seasons are in late fall and winter are capped out before their period of seasonal need begins. Absent cap relief, these employers will be unable to receive temporary, U.S. government-vetted guest workers.”
    In addition to Senators Carper, Coons, King, and Rounds, the letter was signed by Senators John Barrasso (R-Wyo.), Michael Bennet (D-Colo.), Maria Cantwell (D-Wash.), Ben Cardin (D-Md.), Susan Collins (R-Maine), John Cornyn (R-Texas), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), John Fetterman (D-Pa.), Lindsey Graham (R-S.C.), Maggie Hassan (D-N.H.), George Helmy (D-N.J.), John Hickenlooper (D-Colo.), Cindy Hyde-Smith (R-Miss.), Tim Kaine (D-Va.), Amy Klobuchar (D-Minn.), Cynthia Lummis (R-Wyo.), Joe Manchin (I-W.Va.), Jerry Moran (R-Kan.), Lisa Murkowski (R-Alaska), Pete Ricketts (R-Neb.), Jim Risch (R-Idaho), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Dan Sullivan (R-Alaska), John Thune (R-S.D.), Thom Tillis (R-N.C.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), Roger Wicker (R-Miss.), Ron Wyden (D-Ore.), Kyrsten Sinema (I-Ariz.), and Tim Scott (R-S.C.).
    The full text of the letter is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Luján Visits De Baca County and Meets with Local Health and Elected Officials, Tours Damage in Roswell and Chaves County From Devastating Flooding

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)
    Luján Has Visited All 33 Counties Across New Mexico
    Roswell, N.M. – This week, U.S. Senator Ben Ray Luján (D-N.M.) traveled to De Baca County to meet with local leaders and health officials and toured the damage in Roswell and Chaves County following deadly flooding earlier this month. Senator Luján has now visited all 33 counties in New Mexico.

    On Tuesday, Luján toured the De Baca Family Practice Clinic and met with local health officials to see the care the clinic is providing De Baca County residents and to discuss the importance of supporting rural health care. As a member of the Senate Committee on Health, Education, Labor, and Pensions, Luján has helped deliver funding for community health centers and is fighting to pass legislation to expand primary care across America.

    Next in De Baca County, Luján sat down for a meeting with local county officials. During the meeting, Luján discussed the importance of supporting rural communities and highlighted infrastructure funding he helped secure to improve roadway safety and boost the quality of life in rural New Mexico.
    “This week, I was honored to visit De Baca County to tour the De Baca Family Clinic and meet with local leaders,” said Senator Luján. “It was a privilege to meet with local health officials at the De Baca Family Practice Clinic to discuss how we can strengthen rural health care and meet with De Baca County officials to speak about investing in rural infrastructure. I am committed to supporting rural communities and will continue to fight to deliver federal resources to bolster the health care workforce, expand health centers, and strengthen infrastructure in rural New Mexico.”

    On Wednesday, Luján traveled to Roswell to meet with local officials and tour the damage caused by recent historic rainfall and deadly flooding. During the tour, Luján assessed the damage to local homes, businesses, and infrastructure caused by record rainfall earlier this month. On Monday, Luján, along with the New Mexico Congressional Delegation called on President Biden to swiftly approve the state’s request for a Major Disaster Declaration, which would unlock federal funds and disaster loans.
    “Seeing the devastation in Roswell and Chaves County is saddening and tragic. My prayers are with the families of the two victims that were killed from the flooding, and the many more who were injured or displaced,” said Senator Luján. “I thank the brave first responders and countless others who stepped in to assist in rescue efforts and pitched in to support each other during this disaster. While the road to recovery is just getting underway, I am committed to unlocking the federal resources impacted residents need to recover and will continue to work closely with local, state, and federal partners to accelerate recovery efforts.”

    MIL OSI USA News –

  • MIL-OSI Russia: Materials for the Government meeting on October 31, 2024

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The following issues are planned to be considered at the meeting:

    1. On the draft amendments of the Government of the Russian Federation to the draft federal law No. 727320-8 “On the federal budget for 2025 and for the planning period of 2026 and 2027”

    The draft amendments are aimed at clarifying the provisions of the draft federal law adopted by the State Duma in the first reading.

    2. On the draft federal law “On Amendments to Article 2 of the Federal Law “On Assistance to the Development and Improvement of Management Efficiency in the Housing Sector and on Amendments to Certain Legislative Acts of the Russian Federation”

    The adoption of the bill will contribute to achieving the goals of the state program of the Russian Federation “Provision of affordable and comfortable housing and utilities to citizens of the Russian Federation”, approved by the Decree of the Government of the Russian Federation of December 30, 2017 No. 1710.

    3. On the draft federal law “On Amendments to Articles 340 and 342 of Part Two of the Tax Code of the Russian Federation”

    The bill is aimed at eliminating ambiguous interpretations of the current legislation on taxes and fees.

    4. On the draft federal law “On Amendments to Certain Legislative Acts of the Russian Federation” (in terms of bringing the provisions of certain federal laws into line with the provisions of the Civil Code of the Russian Federation)

    The bill is aimed at bringing legislative acts regulating the specifics of the civil-legal status of non-profit organizations of certain organizational-legal forms, types and kinds, as well as the special procedure for their state registration, into line with the provisions of the Civil Code.

    5. On the draft federal law “On Amendments to the Code of the Russian Federation on Administrative Offenses”

    The bill was prepared in order to secure the legal basis for the use of modern information technologies in proceedings on administrative offences.

    6. On the draft federal law “On Amendments to the Federal Law “On the Implementation of the Code of the Russian Federation on Administrative Offenses” (in terms of the use of electronic documents and regulation of remote participation in proceedings on administrative offenses)

    The bill was prepared with the aim of empowering individual government agencies to adopt regulatory legal acts governing the procedure for electronic document management and remote participation in proceedings on administrative offenses.

    7. On the draft federal law “On Amendments to the Labor Code of the Russian Federation” (in terms of providing guarantees to employees undergoing military service in connection with a special military operation, during the period of suspension of the employment contract, regardless of the term of the contract)

    The bill is aimed at protecting the labor rights of workers.

    8. On the draft amendments of the Government of the Russian Federation to the draft federal law No. 727321-8 “On the budget of the Pension and Social Insurance Fund of the Russian Federation for 2025 and for the planning period of 2026 and 2027”

    The draft amendments are aimed at clarifying certain provisions of the draft federal law in terms of the areas of expenditure carried out by the Social Fund of Russia and the names of budget classification codes.

    Moscow, October 30, 2024

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Government meeting (2024, No. 32)

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    1. On the draft amendments of the Government of the Russian Federation to the draft federal law No. 727320-8 “On the federal budget for 2025 and for the planning period of 2026 and 2027”

    The draft amendments are aimed at clarifying the provisions of the draft federal law adopted by the State Duma in the first reading.

    2. On the draft federal law “On Amendments to Article 2 of the Federal Law “On Assistance to the Development and Improvement of Management Efficiency in the Housing Sector and on Amendments to Certain Legislative Acts of the Russian Federation”

    The adoption of the bill will contribute to achieving the goals of the state program of the Russian Federation “Provision of affordable and comfortable housing and utilities to citizens of the Russian Federation”, approved by the Decree of the Government of the Russian Federation of December 30, 2017 No. 1710.

    3. On the draft federal law “On Amendments to Articles 340 and 342 of Part Two of the Tax Code of the Russian Federation”

    The bill is aimed at eliminating ambiguous interpretations of the current legislation on taxes and fees.

    4. On the draft federal law “On Amendments to Certain Legislative Acts of the Russian Federation” (in terms of bringing the provisions of certain federal laws into line with the provisions of the Civil Code of the Russian Federation)

    The bill is aimed at bringing legislative acts regulating the specifics of the civil-legal status of non-profit organizations of certain organizational-legal forms, types and kinds, as well as the special procedure for their state registration, into line with the provisions of the Civil Code.

    5. On the draft federal law “On Amendments to the Code of the Russian Federation on Administrative Offenses”

    The bill was prepared in order to secure the legal basis for the use of modern information technologies in proceedings on administrative offences.

    6. On the draft federal law “On Amendments to the Federal Law “On the Implementation of the Code of the Russian Federation on Administrative Offenses” (in terms of the use of electronic documents and regulation of remote participation in proceedings on administrative offenses)

    The bill was prepared with the aim of empowering individual government agencies to adopt regulatory legal acts governing the procedure for electronic document management and remote participation in proceedings on administrative offenses.

    7. On the draft federal law “On Amendments to the Labor Code of the Russian Federation” (in terms of providing guarantees to employees undergoing military service in connection with a special military operation, during the period of suspension of the employment contract, regardless of the term of the contract)

    The bill is aimed at protecting the labor rights of workers.

    8. On the draft amendments of the Government of the Russian Federation to the draft federal law No. 727321-8 “On the budget of the Pension and Social Insurance Fund of the Russian Federation for 2025 and for the planning period of 2026 and 2027”

    The draft amendments are aimed at clarifying certain provisions of the draft federal law in terms of the areas of expenditure carried out by the Social Fund of Russia and the names of budget classification codes.

    Moscow, October 30, 2024

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes the Seventh and Eighth Reviews under the Extended Fund Facility and Extended Credit Facility and Review under the Resilience and Sustainability Facility Arrangement with Kenya

    Source: IMF – News in Russian

    October 30, 2024

    • The Executive Board’s decision to complete the reviews enables a combined disbursement of around US$606 million to support the authorities’ efforts to rebuild fiscal and external buffers, including to enhance resilience to climate shocks.
    • Resolution of the exceptional external financing pressure earlier this year has revived market confidence, aided stabilization of the shilling, and enabled a faster buildup of foreign exchange reserves. However, large revenue shortfalls in FY2023/24 and pushback against revenue measures owing to governance concerns pose a challenge to the ongoing fiscal consolidation efforts.
    • The Kenyan authorities face a difficult balancing act of boosting domestic revenues to protect critical spending in priority areas while meeting heavy debt service obligations. Delivering on this would call for improving governance and transparency to restore public trust in the effective use of public resources.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded today the seventh and the eighth reviews under the extended arrangement under the Extended Fund Facility (EFF) and the arrangement under the Extended Credit Facility (ECF), approved in April 2021, and a review under the Resilience and Sustainability Facility (RSF) arrangement, approved in July 2023, with Kenya.

    The EFF/ECF arrangements aim to support Kenya’s program to address debt vulnerabilities while safeguarding resources for priority social and developmental needs; build resilience to shocks; improve governance and transparency; and support broader economic reforms to realize the country’s medium-term potential. The RSF arrangement aims to reinforce Kenya’s strong efforts to address climate-related challenges and catalyze further private climate finance.

    The Executive Board’s decision allows for the immediate disbursements of SDR365.28 million (about US$485.8 million) under the EFF/ECF arrangements and SDR90.47 million (about US$120.3 million) under the RSF arrangement. In addition, following the resolution of exceptional financing needs earlier this year, the Board approved a reduction in the total access under the EFF/ECF arrangements from exceptional access, approved in January 2024 (see PR24/12), to within the normal access limits and a rebalancing of access toward the zero-interest ECF arrangement. Together with the recent changes to the IMF’s charges and surcharges policy, these adjustments would lower Kenya’s interest payments to the IMF.

    Under the EFF/ECF arrangements, total IMF financial commitment stands at SDR2.714 billion (about US$3.61 billion), of which SDR2.343 billion (about US$3.12 billion) has been approved for disbursement. For the RSF arrangement, the corresponding amounts are SDR407.1 million (about US$541.3 million) and SDR135.70 million (about US$180.4 million), respectively.

    In completing the reviews, the Executive Board recognized that the resolution of the exceptional external financing pressure earlier this year has revived market confidence, supporting shilling stabilization and facilitating faster buildup of reserves. However, the fiscal consolidation efforts have faced headwinds following a sizable tax revenue shortfall in FY2023/24 and withdrawal of the 2024 Finance Bill after widespread public protests. Nevertheless, the EFF/ECF program has delivered on reducing inflation, strengthening external buffers, and stabilizing the exchange rate. In addition, the Board approved waivers of non-observance for the end-December 2023 tax revenue and the end-June 2024 primary budget balance and tax revenue targets based on the corrective action taken through the passage of the Supplementary FY2024/25 Budget, which together with medium-term fiscal consolidation would help reduce debt vulnerabilities, a core objective of the program. The Board also completed review under the RSF arrangement and approved the disbursements associated with two reform measures implemented.

    The Board emphasized that sustaining progress requires improving the quality of fiscal adjustment, addressing fiscal and financial sector vulnerabilities, advancing governance reforms, and implementing the structural agenda, including climate-related reforms. Continued efforts to support the vulnerable population, broadening the socio-political support for reforms, and ensuring agile policymaking will also be necessary.

    At the conclusion of the Executive Board’s discussion, Ms. Gita Gopinath, First Deputy Managing Director of the IMF and Acting Chair, made the following statement:

    “Kenya’s economy remains resilient, with growth above the regional average, inflation decelerating, and external inflows supporting the shilling and a buildup of external buffers, despite a difficult socio-economic environment.

    “The EFF/ECF and the RSF arrangements continue to support the authorities’ efforts to anchor macroeconomic stability, reduce debt vulnerabilities, promote reforms, and mitigate climate-related risks.

    “Performance since the last reviews of these arrangements has weakened. While accumulation of foreign exchange reserves and inflation were better than expected, the fiscal performance fell significantly short of the targets. The revenue and export underperformances increased debt vulnerabilities. Implementation of several reforms was also delayed.

    “In this context, a difficult adjustment path lies ahead. A credible fiscal consolidation strategy remains central to addressing debt vulnerabilities while protecting social and development spending. Reforms to make the tax regime more efficient, equitable, and progressive as well as strengthening accountability, transparency, and efficiency of public finances will help garner political and societal support for reforms. Clearly communicating the necessity and benefits of the reforms is paramount.

    “Given the elevated risks around the fiscal strategy, policymaking needs to be agile. Contingency planning remains critical, with policies adapting to evolving outcomes to safeguard stability and ensure that program objectives continue to be met.

    “The Central Bank of Kenya’s decisive actions have supported price stability and external sustainability, including through institutional changes to improve the functioning of the monetary policy operational framework and the money and foreign exchange markets. Exchange rate flexibility is vital to improve resilience to external shocks and competitiveness. Addressing banks’ deteriorating asset quality and emerging risks requires close monitoring and strengthened oversight.

    “Fast-tracking key reforms would raise medium-term potential. In particular, addressing deficiencies in governance, anti-corruption frameworks, and AML/CFT, including leveraging the requested governance diagnostic, is essential for garnering public trust and enhancing policy credibility, and for attracting fresh investments, including finance to build climate resilience.”

    Kenya: Selected Economic Indicators, 2021–2026

    2021

    2022

    2023

    2024

    2025

    2026

    Act.

    Act.

    Act.

    Est./ Proj.

    Proj.

    Proj.

    Output

    Real GDP growth (percent)

    7.6

    4.9

    5.6

    5.0

    5.0

    5.0

    Prices

    Inflation –average (percent)

    6.1

    7.6

    7.7

    5.0

    5.3

    5.1

    Central government finances (fiscal year)1

    Total revenue (percent of GDP)

    16.1

    17.5

    16.7

    17.2

    18.0

    18.7

    Expenditure and net lending (percent of GDP)

    24.4

    23.7

    22.5

    22.8

    22.3

    22.7

    Overall fiscal balance (percent of GDP)

    –8.3

    –6.2

    –5.6

    –5.3

    –4.3

    –4.0

    Public debt

    Gross nominal debt (percent of GDP)

    68.1

    67.8

    73.1

    67.0

    68.8

    68.8

    Gross external debt (percent of GDP)

    34.7

    34.6

    40.4

    34.9

    37.0

    37.4

    Money and Credit (end of period)

    Broad money (percent change)

    6.1

    7.1

    21.3

    5.6

    10.3

    10.2

    Credit to private sector (percent change)

    8.6

    12.5

    13.9

    3.3

    12.4

    11.2

    Policy rate, end-of-period (percent)

    7.0

    8.75

    12.50

    …

    …

    …

    Balance of payments

    Current account balance (percent of GDP)

    –5.2

    –5.0

    –4.0

    –3.9

    –4.0

    –4.1

    Gross international reserves (in months of imports)

    4.7

    4.4

    3.8

    4.1

    4.1

    4.2

    Exchange rate

    REER (average percent change; positive = appreciation)

    –2.6

    2.2

    –8.3

    …

    …

    …

    Sources: Kenyan authorities; and IMF staff estimates and projections.

    1 Based on fiscal year (i.e., 2025 represents fiscal year 2024/25, covering July 2024–June 2025).
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/30/pr-24398-kenya-imf-concludes-7th-and-8th-rev-under-the-eff-and-ecf-and-rev-under-rsf-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Canada: Alberta strengthens child care safety

    Source: Government of Canada regional news

    [embedded content]

    Alberta’s government recognizes that the vast majority of providers are dedicated to delivering safe, quality care. However, when child safety is compromised, action is necessary. Proposed changes to the Early Learning and Child Care Amendment Act, 2024, would help the government ensure child safety by strengthening its ability to hold non-compliant providers accountable, speeding up its ability to address issues in care and upholding public trust in the child-care system.

    The health and safety of children is the government’s top priority. Additional amendments would allow the government’s child-care licensing team to impose penalties on licence holders and educators who jeopardize child safety and who do not meet quality standards. By making these changes, Alberta would align with other Canadian jurisdictions.

    “Albertans deserve to have confidence in their child-care system. They deserve transparent, high-quality and safe care for their kids. When parents, guardians and caregivers go to work or school, they need to know their children are safe in their child-care setting. The Early Learning and Child Care Amendment Act, 2024, would strengthen the tools available to enforce quality care and give parents peace of mind that their government has their back.”

    Matt Jones, Minister of Jobs, Economy and Trade

    To build further trust in Alberta’s child-care system, amendments to the act would ensure parents have easy access to vital information about their kids’ care. In addition to the non-compliances that are already posted online, these changes would put more information at the fingertips of parents, including the certification status of early childhood educators and stop orders against unlicensed providers.  This would help parents make informed choices about their child’s care.

    Amendments would also enhance the government’s ability to target specific issues at a child-care facility while allowing for the temporary closure of only part of a child-care program, rather than closing the entire program. This would help minimize impacts to parents and children.

    The vast majority of providers consistently provide safe, quality care. These programs will remain unaffected, fully able to provide child care to their communities.

    “As a program manager of a mid-sized child-care centre, I am proud to support the Early Learning and Child Care Amendment Act. As an established child-care provider, parents in my community trust in me to provide quality care. I am more than happy to provide parents with every reassurance they need so they can go to work and know their kids are safe, healthy and well taken care of in my facility. It is great to see the province stepping up and putting forward these important changes.”

    Bernice Taylor, program manager, Early Childcare Development Centre

    If passed, the updated Early Learning and Child Care Act would address the recommendation from the Food Safety and Licensed Facility-Based Child Care Review Panel to clearly state that all facility-based licence holders must comply with applicable zoning, health and safety legislation.

    Alberta’s government continues to work with child-care providers, the federal government and parents to ensure the child-care system works within the province’s unique, mixed-market child-care system.

    “Legislation, policies and processes across authorities must be cohesive and complementary if they are to be effective. As a member of the Food Safety and Licensed Facility-Based Child Care Review Panel, an expert in food safety standards and an advocate for food safety, I commend Alberta’s government for their proposed amendments to the Early Learning and Child Care Act. These changes prioritize the health and well-being of our children by strengthening the understanding of food safety and food handling requirements of child-care providers and regulators.”

    Dr. Lynn McMullen, professor emerita, University of Alberta

    Related information

    • Early Learning and Child Care Act
    • Finding and Choosing Child Care
    • Bill 25: Early Learning and Child Care Amendment Act, 2024

    Related news 

    • Enhancing food safety in child-care settings (Jul. 29, 2024)

    Multimedia

    • Watch the news conference
    • Listen to the news conference

    MIL OSI Canada News –

  • MIL-OSI New Zealand: Louise Upston cherry-picks data to punch down on the poor

    Source: Green Party

    The Government has very conveniently cherry-picked data from the latest MSD projections to justify its cruel agenda and punch-down policy when it comes to people living in poverty. 

    “Poverty is a political choice this Government is choosing for our communities,” says the Green Party’s social development spokesperson, Ricardo Menéndez March.

    “We can choose to look after each other and ensure everyone has enough to get by and that nobody gets left behind. The solutions exist and they are right at our fingertips, all that is missing is the political will. 

    “The Government has failed to show any interest in ending poverty and has instead made excuses to make it worse. Today, Minister Upston has conveniently omitted that the latest projections by MSD show that people who have been hospitalised, been in prison, suffered from poor mental health, or have previously experienced housing insecurity are more likely to need a benefit for longer.

    “The Government has turned its back on people living in poverty as well as the overwhelming evidence that shows punching down on people with benefit sanctions will fail to get them into work and only push them deeper and deeper into poverty. 

    “Instead of working to address the underlying drivers of the insecurities that push people towards needing the benefit, Minister Upston has instead chosen to belittle those in need with benefit sanctions. This is tried, tested and failed policy proven to not help people into work but instead trap them in poverty. 

    “Cruelty is the point here, not supporting people into employment. The data the Minister is leaning on does not justify or support the use of sanctions. The data is clear that the current economic conditions, coupled with young people not having their basic needs met are a big factor for people experiencing barriers to employment. 

    “This is why the Greens will end poverty by introducing a guaranteed minimum income, paid for by a fairer tax system, instead of doubling down on policies that do not support young people’s aspirations.

    “Instead of cherry-picking data, the Government should step up and actually support our communities, rather than find excuses to tear them down,” says Ricardo Menéndez March.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: 31 October 2024 Christchurch customers connect over kai Fried rice and pita bread pizzas were just some of the culinary delights on the menu when tenants at a Kāinga Ora complex in Christchurch took part in a free course that offers tips on how to cook on a budget.

    Source: New Zealand Government Kainga Ora

    Alex, who shared his story earlier this year about living in the complex, has been working with Kāinga Ora Community Development Manager Amanda to look at ways of bringing tenants together in the community room downstairs.

    As part of this, Amanda, with Alex’s help, organised for charitable organisation Kingdom Resources to run its Christchurch-based ‘Money and Kai’ programme, which focuses on things such as menu planning and easy meal preparation.

    Christchurch tenant Colin, with Jacinta from Kingdom Resources, whips up a pita bread pizza.

    Tenants got together in the community room every Wednesday for four weeks, making the most of the chance to learn about making affordable, tasty meals from scratch before sharing the kai they had made with each other. At one of the sessions, Alex also shared with other residents how he shops and eats on a budget.

    Alex says he’s enjoying helping Amanda to bring everyone together and the “Money and Kai’ course has given him, and the other tenants, a real boost.

    “Having this home and the sense of purpose of working with Amanda to support and encourage my neighbours to get involved has helped me too, saved my life really.  The course has been very educational and everyone seems uplifted from learning together. It’s increased their mana.

    “I’ve also been able to share the budget learnings and recipes with my friends and family, which is nice,” Alex says.

    Jacinta from Kingdom Resources says it was great to see Kāinga Ora tenants enjoying each other’s company and sharing ideas on how to eat well within a budget. “That’s what this course is all about. People saying, ‘I have knowledge, and you have knowledge and how can we make it easier for each other,” she says.

    Page updated: 31 October 2024

    MIL OSI New Zealand News –

  • MIL-OSI USA: Heliostat Consortium Delivers New Tools To Ensure Quality of Precision Mirrors and Support the Concentrating Solar Industry

    Source: US National Renewable Energy Laboratory

    HelioCon’s 2024 Annual Report Details Its Advancement of a Technique To Improve Heliostat Accuracy and the Launch of an Open-Source CSP Platform

    Maintenance workers drive between the heliostats at the Ivanpah concentrating solar energy plant, where mirrors track the sun and reflect sunlight to boiler receivers on power towers. When the concentrated sunlight strikes the boiler pipes, it heats the water to create superheated steam. Photo by Dennis Schroeder, NREL

    Large mirrors that track the sun to concentrate and capture thermal energy—heliostats—are a core component of every power-tower concentrating solar power (CSP) plant around the world. But the sheer variety of shapes, sizes, and configurations of these giant mirrors has created the need for new, adaptable testing and calibration methods, both on the assembly line and in the field, to maximize the potential output of these precision devices.

    The newly released HelioCon 2024 Annual Report highlights a host of new advances toward improving the cost and performance of heliostats, including a universally adaptable heliostat quality-control tool developed at the National Renewable Energy Laboratory (NREL) and an open-source platform developed at Sandia National Laboratories to share data, code, and workforce educational tools for the global CSP community.

    “HelioCon has made tremendous progress on developing, maturing, and validating third-party evaluation and testing capabilities to make them ready for industry,” said Guangdong Zhu, HelioCon executive director and a senior researcher at NREL. “This is exactly what the industry needs right now.”

    The U.S. Department of Energy Solar Energy Technologies Office (SETO) funds the Heliostat Consortium for CSP (HelioCon), which is coled by NREL and Sandia, along with core members at the Australian Solar Thermal Research Institute (ASTRI). HelioCon was founded in 2021 with a mission to develop and promote heliostat-based CSP technologies in the United States and advance the techno-economic performance of heliostats. Lowering the cost of producing, operating, and maintaining heliostats would ultimately lower the overall costs for CSP systems, which can provide clean long-duration energy storage and low-cost thermal energy for dispatchable electricity generation and high-heat industrial processes that have been difficult to decarbonize.

    “Concentrating solar has a unique role to play in our clean energy future,” said Matthew Bauer, SETO’s CSP program manager. “Not only can CSP complement other clean energy sources by providing long-duration energy storage, but it can also supply the high temperatures that tough-to-electrify industrial processes require. Heliostats are a key to lowering the overall costs of all of these applications, so improving heliostats can boost a range of decarbonization strategies.”

    Heliostats and a solar power tower operate at the Ivanpah CSP plant in California. Photo by Dennis Schroeder, NREL

    The consortium’s online and in-person engagement efforts at seminars, events, and an annual workshop led to a growth spurt in 2024. HelioCon now includes 16 member institutions and more than 100 researchers, and it has developed partnerships with universities to prepare college students for work in the CSP field. HelioCon also awarded six new projects that are focused on workforce development, heliostat controls, and deployment, for a total of $3 million in its second-round funding request.

    The HelioCon 2024 Annual Report details members’ advances in preparing metrology, measurement, and heliostat control tools for commercial readiness. These advances include a solar field closed-loop wireless control system, Non-Intrusive Optical (NIO) characterization tools, the Solar Optical Fringe Alignment Slope Technique (SOFAST), and composite mirror facets assessment. The report also announced that two major HelioCon projects are now being tested by industry partners:

    ReTNA: An Adaptable Commercial Quality-Control Tool for Heliostat Manufacturers

    An employee runs diagnostics on heliostats at the Crescent Dunes Solar Energy Project CSP facility. Photo by Dennis Schroeder, NREL

    To tackle the question of how manufacturers can check the optics of heliostats before they are deployed in the field, NREL researchers used an existing tool they developed for testing heliostats outdoors—NIO measurement—as a starting point for developing a new measurement method for indoor use. The team, led by NREL researcher Devon Kesseli, set specifications to make the new optical measurement tool useful to industry: Regardless of the size and shape of the heliostats, the tool should be low cost, require minimal setup, measure a heliostat in less than a minute, and use the available lighting along the production line in a warehouse or laboratory.

    Reflected Target Non-Intrusive Assessment (ReTNA) measures slope and canting in heliostats by deflectometry, or deflected reflection, with a commercially available camera. The camera captures images of a printed target panel that can be mounted to a wall or even the ceiling, and computer vision stitches together multiple reflected images of the patterned target to create a precision measurement of each mirror. Because ReTNA is so easily adaptable, the tool can measure the surface slope and facet canting of heliostats of various sizes and in any orientation along an assembly line.

    Development of ReTNA under HelioCon began in 2022, and in 2024 it completed its proof-of-concept phase. ReTNA is now undergoing further testing by the consortium’s commercial partners.

    OpenCSP: An Open-Source Platform for Code and Data Sharing and Workforce Development

    Workers monitor system operations at Ivanpah’s control room. Photo by Dennis Schroeder, NREL

    At the 2024 SolarPACES conference in October, HelioCon researcher Randy Brost, who leads the Optics Lab team at Sandia National Laboratories, announced the public launch of OpenCSP, an open-source platform that will serve as a collaborative environment where the CSP community can share code, data, and computer-aided design models, as well as tools for workforce education.

    Designed to grow as a repository of information, OpenCSP launched with a number of tools and datasets already in place, including optical targets for heliostat metrology testing and Sandia’s SOFAST 2.0 code in Python. SOFAST is an adaptable, low-cost tool that can be used across the industry to create high-fidelity slope maps of concentrating solar mirrors.

    Read the full HelioCon 2024 Annual Report.

    Learn more about HelioCon’s research and outreach efforts and visit the NREL CSP and Sandia CSP sites.

    MIL OSI USA News –

  • MIL-OSI Australia: Outstanding service recognised at Wallan

    Source: Victoria Country Fire Authority

    Deputy Group Officer Peter Roylance received the CFA Outstanding Service Medal (pictured with his wife Jenny)

    Wallan Fire Brigade Members and their families and friends gathered on Saturday 19 October to recognise more than 350 years of combined service to CFA and the community.

    More than 80 past and present CFA members, family and friends were joined by Interim CEO Robyn Harris and Acting Commander Paul Brislin at the Wallan Bowls Club for the annual Wallan Fire Brigade presentation dinner.

    Captain Tim Benetti thanked members for their tireless commitment to the brigade and acknowledged the family support that enables CFA volunteers to do what they do.

    “You are the lifeblood of the brigade and I’d like to thank all of you for the time you’ve given to helping protect our community over the past 12 months,” Tim said.

    “I’d like to thank the unsung heroes – the wives, husbands, partners, mums, dads, children and others…. a heartfelt thank you from a captain who’s job would be much more difficult if it wasn’t for your support.”

    Tim also spoke about the incredibly busy year for the brigade, responding to 336 calls last financial year – the busiest year in the brigade’s 87-year history – and the brigade’s achievements including the delivery of the new heavy tanker in May.

    Interim CEO Robyn Harris and Acting Commander Paul Brislin presented CFA service awards to Kacie Graham (five years), Brenton Allan and Chris Hill (10 years), Taylor Campbell, Chris Walker, Braydan Fletcher, Hayley Hanson, Justin Cardiff, Andrew South and Sue Howitt (15 years), Hayden McMennemin (20 years) and John Meldrum (35 years).

    National Emergency Medals for the 2019-20 bushfires were presented to Andrew South, Hayley Hanson, Peter Roylance and Nathan Anderson. 

    National Medals were presented to Justin Cardiff, Travis Gray, Andrew South, Allie Tuddin, John Tuddin, Nathan Anderson (1st Clasp), Deb Hanson (1st Clasp) and Colin Prentice (1st Clasp).

    Deputy Group Officer and Brigade President Peter Roylance, who MCd the evening, was presented with the CFA’s highest internal award, the Outstanding Service Medal to recognise his more than half a century dedicated to the protection of life and property from fire and other emergencies.

    Peter joined Epping Fire Brigade in 1971 at age 15 and has maintained an exceptional level of commitment to CFA throughout his volunteer service. He has held an elected leadership role in a brigade or group (often at the same time) for the past 49 years and has mentored countless volunteers on their CFA journeys.

    In accepting his award, Peter thanked his family and brigade members for their support and reflected on his years of service.

    “These things don’t happen without family support and that’s been a big part of my achievement throughout the years of service,” Peter said.

    “I just love being there and listening to the different opinions and the conversations, from the newest member of the organisation to the 70-year-old member. It all means something in the big mix of things.

    “The fire brigade became my real passion at age 15, because in those days you could become a senior firefighter at 15. From the word go, I was just totally dedicated totally to CFA and it has just been there all that time.

    “Thank you very much. I’m just absolutely stoked.”

    The evening’s formalities concluded with the presentation of internal brigade awards to Captain Tim Benetti, Firefighter Edward Martin and Firefighter Chris Answer, and the unveiling of a new Brigade Life Members honour board.

    Live music and raffles entertained members into the night.

    Photos courtesy of Uniform Photography.

    Submitted by Christopher Brockwell

    MIL OSI News –

  • MIL-OSI: Superior Energy Services Announces Third Quarter 2024 Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) — Superior Energy Services, Inc. (the “Company”) filed its Form 10-Q for the period ended September 30, 2024. In accordance with the Company’s Shareholders Agreement, it will host a conference call with shareholders on November 1, 2024.

    For the third quarter of 2024, the Company reported net income from continuing operations of $21.9 million, or $1.09 per diluted share, with revenue of $197.3 million. This compares to net income from continuing operations of $29.5 million or $1.46 per diluted share, with revenue of $201.1 million, for the second quarter of 2024.

    The Company’s Adjusted EBITDA (a non-GAAP measure defined on page 4) was $57.8 million compared to $60.0 million for the second quarter of 2024. Refer to pages 11 and 12 for a reconciliation of Adjusted EBITDA to GAAP results.

    Third Quarter 2024 Geographic Breakdown

    U.S. land revenue was $36.0 million for the third quarter of 2024, a decrease of 8% compared to revenue of $39.0 million for the second quarter of 2024. The decline in U.S. land revenue was primarily driven by decreased activity from our premium drill pipe and bottom hole accessories product lines within our Rentals segment, consistent with a reduced U.S. land rig count.

    U.S. offshore revenue was $49.7 million in the third quarter of 2024, a decrease of 8% compared to revenue of $53.8 million in the second quarter of 2024. U.S. offshore revenue decreased primarily in our Well Services segments, with the most significant decline coming from our project-based completion services product line.  U.S. Offshore revenue in the Rentals segment for the third quarter of 2024 was up $1.6 million versus the second quarter of 2024, despite approximately $1.0 million of revenue slipping to the fourth quarter of 2024 due to hurricane activity in September.

    International revenue was $111.6 million in the third quarter of 2024, an increase of 3% compared to revenue of $108.4 million in the second quarter of 2024. International revenue was up across both our Rentals and Well Services segments, with the increase being driven by our hydraulic snubbing and well control services product lines.

    Third Quarter 2024 Segment Reporting

    The Rentals segment revenue in the third quarter of 2024 was $97.9 million, a 2% decrease compared to revenue of $99.9 million in the second quarter of 2024, primarily driven by reduced activity in U.S. land and hurricane disruptions in the U.S. offshore market. In the third quarter of 2024, Rentals segment income from operations was $43.9 million as compared to $44.1 million in the second quarter of 2024. Adjusted EBITDA was $55.9 million, a decrease from $56.0 million in the second quarter of 2024. Adjusted EBITDA Margin (a non-GAAP measure defined on page 4) was 57%, a 1% increase from the second quarter of 2024.

    The Well Services segment revenue in the third quarter of 2024 was $99.5 million, a 2% decrease compared to revenue of $101.2 million in the second quarter of 2024 and income from operations for the third quarter of 2024 was $3.8 million as compared to $10.7 million in the second quarter of 2024. Adjusted EBITDA for the third quarter of 2024 was $15.4 million with an Adjusted EBITDA Margin of 16%, as compared to Adjusted EBITDA of $19.1 million with an Adjusted EBITDA Margin of 19% in the second quarter of 2024. The Well Services segment sequential decline was primarily driven by lower activity in our project-based completion services product line.

    Liquidity

    As of September 30, 2024, the Company had cash, cash equivalents, and restricted cash of approximately $380.6 million.  As of September 30, 2024, our borrowing base, as defined in our credit agreement, was approximately $89.9 million, and we had $39.5 million in letters of credit outstanding which reduced the borrowing availability to $50.4 million. At September 30, 2024, we had no outstanding borrowings under our credit facility.

    During the third quarter of 2024, we utilized an indirect foreign exchange mechanism known as a Blue Chip Swap. The transactions were completed at implied exchange rates that were approximately 63.0% higher than the official exchange rate, resulting in a loss of approximately $5.1 million during the third quarter of 2024.

    During the third quarter of 2024, net cash from operating activities was $62.5 million. Free Cash Flow (a non-GAAP measure defined on page 4) for the third quarter of 2024 totaled $50.5 million as compared to $39.0 million for the second quarter of 2024. Refer to page 8 for a reconciliation of Free Cash Flow to Net Cash from Operating Activities.

    Third quarter 2024 capital expenditures were $12.0 million. The Company expects total capital expenditures for 2024 to be approximately $100 to $110 million. Approximately 91% of total 2024 capital expenditures are targeted for the replacement of existing assets.  Of the total estimated 2024 capital expenditures, approximately 68% is expected to be invested in the Rentals segment.

    2024 Guidance

    Our full year 2024 guidance remains consistent from the second quarter 2024 guidance. We expect 2024 revenue to come in at a range of $780 million to $840 million with 2024 Adjusted EBITDA expected to be in a range of $235 million to $265 million.

    Conference Call Information

    The Company’s management team will host a conference call on Friday, November 1, 2024, at 10:00 a.m. Eastern Time. The call will be available via live webcast in the “Events” section at ir.superiorenergy.com. To access via phone, participants can register for the call here, where they will be provided a phone number and access code. The call will be available for replay until November 1, 2025 on Superior’s website at ir.superiorenergy.com. If you are a shareholder and would like to submit a question, please email your question beforehand to Jamie Spexarth at ir@superiorenergy.com.

    About Superior Energy Services

    Superior Energy Services serves the drilling, completion and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells.  For more information, visit: www.superiorenergy.com.

    Non-GAAP Financial Measures

    To supplement Superior’s consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also uses Adjusted EBITDA and Adjusted EBITDA Margin. Management uses Adjusted EBITDA and Adjusted EBITDA Margin internally for financial and operational decision-making and as a means to evaluate period-to-period comparisons. The Company also believes these non-GAAP measures provide investors useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. Non-GAAP financial measures are not recognized measures for financial statement presentation under U.S. GAAP and do not have standardized meanings and may not be comparable to similar measures presented by other public companies. Adjusted EBITDA and Adjusted EBITDA Margin should be considered as supplements to, and not as substitutes for, or superior to, the corresponding measures calculated in accordance with GAAP. We define Adjusted EBITDA as net income (loss) from continuing activities before net interest expense, income tax expense (benefit) and depreciation, amortization, accretion and depletion, restructuring and transaction expenses, adjusted for other gains and losses and other expenses, net, which management does not consider representative of our ongoing operations. We define Adjusted EBITDA Margin as Adjusted EBITDA by segment as a percentage of segment revenues. For a reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP financial measure, please see the tables under “―Superior Energy Services, Inc. and Subsidiaries Reconciliation of Adjusted EBITDA” and “—Superior Energy Services, Inc. and Subsidiaries Reconciliation of Adjusted EBITDA by Segment” included on pages 11 and 12 of this press release.

    Free Cash Flow is defined as net cash from operating activities less payments for capital expenditures. Free Cash Flow is considered a non-GAAP financial measure under the SEC’s rules. Management believes, however, that Free Cash Flow is an important financial measure for use in evaluating the Company’s financial performance, as it measures our ability to generate additional cash from our business operations. Free Cash Flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. Additionally, our definition of Free Cash Flow is limited and does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other obligations or payments made for business acquisitions. Therefore, we believe it is important to view Free Cash Flow as supplemental to our entire Statement of Cash Flows. Please see table under “—Condensed Consolidated Statements of Cash Flows” included on page 8 of this press release.

    The Company is unable to provide a reconciliation of the forward-looking non-GAAP financial measure, Adjusted EBITDA, contained in this press release to its most directly comparable GAAP financial measure, net income, as the information necessary for a quantitative reconciliation of the forward-looking non-GAAP financial measure to its respective most directly comparable GAAP financial measure is not (and was not, when prepared) available to the Company without unreasonable efforts due to the inherent difficulty and impracticability of predicting certain amounts required by GAAP with a reasonable degree of accuracy. Net income includes the impact of depreciation, income taxes and certain other items that impact comparability between periods, which may be significant and are difficult to project with a reasonable degree of accuracy. In addition, we believe such reconciliation could imply a degree of precision that might be confusing or misleading to investors. The probable significance of providing this forward-looking non-GAAP financial measure without the directly comparable GAAP financial measure is that such GAAP financial measure may be materially different from the corresponding non-GAAP financial measure.

    Forward-Looking Statements

    This press release contains, and future oral or written statements or press releases by the Company and its management may contain, certain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Generally, the words “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks”, “will,” “could,” “may” and “estimates,” variations of such words and similar expressions identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements other than statements of historical fact regarding the Company’s financial position and results, financial performance, liquidity, market outlook, future capital needs, capital allocation plans, business strategies and other plans and objectives of our management for future operations and activities are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company’s management in light of its experience and prevailing circumstances on the date such statements are made. Such forward-looking statements, and the assumptions on which they are based, are inherently speculative and are subject to a number of risks and uncertainties, including but not limited to conditions in the oil and gas industry, U.S. and global market and economic conditions generally and macroeconomic conditions worldwide (including inflation, interest rates, supply chain disruptions and capital and credit markets conditions) and other uncertainties (such as the war in Ukraine and conflict in Israel and broader geopolitical tensions in the Middle East and eastern Europe)  that could cause the Company’s actual results to differ materially from such statements. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements.

    While the Company believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in the Company’s Form 10-K for the year ended December 31, 2023 and subsequent reports on Form 10-Qs and those set forth from time to time in the Company’s other periodic filings with the Securities and Exchange Commission, which are available at www.superiorenergy.com. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, unaudited)
                                 
      Three Months Ended     Nine Months Ended  
      September 30,     June 30,     September 30,     September 30,  
      2024     2024     2023     2024     2023  
                                 
    Rentals $ 97,857     $ 99,851     $ 113,201     $ 305,799     $ 334,433  
    Well Services   99,450       101,230       97,184       301,223       340,562  
    Total revenues   197,307       201,081       210,385       607,022       674,995  
                                 
    Rentals   35,227       36,596       37,769       109,589       109,258  
    Well Services   74,172       71,672       72,076       214,717       239,062  
    Total cost of revenues   109,399       108,268       109,845       324,306       348,320  
                                 
    Depreciation, depletion, amortization and accretion   21,077       20,868       20,490       62,392       61,250  
    General and administrative expenses   33,458       33,404       30,089       101,837       92,256  
    Restructuring and transaction expenses   5,891       –       –       5,891       1,983  
    Other gains, net   (133 )     (614 )     (4,073 )     (1,829 )     (5,424 )
    Income from operations   27,615       39,155       54,034       114,425       176,610  
                                 
    Other income (expense):                            
    Interest income, net   5,032       5,760       6,629       17,632       18,581  
    Loss on Blue Chip Swaps   (5,113 )     –       (12,120 )     (5,113 )     (12,120 )
    Other income (expense)   979       (2,082 )     (4,520 )     (2,916 )     (8,508 )
    Income from continuing operations before income taxes   28,513       42,833       44,023       124,028       174,563  
    Income tax expense   (6,597 )     (13,370 )     (11,403 )     (34,754 )     (44,615 )
    Net income from continuing operations   21,916       29,463       32,620       89,274       129,948  
    Income from discontinued operations, net of income tax   –       1,896       128       1,896       408  
    Net income $ 21,916     $ 31,359     $ 32,748     $ 91,170     $ 130,356  
                                 
    Income per share – basic:                            
    Net income from continuing operations $ 1.09     $ 1.46     $ 1.62     $ 4.43     $ 6.46  
    Income from discontinued operations, net of income tax   –       0.09       0.01       0.09       0.02  
    Net income $ 1.09     $ 1.55     $ 1.63     $ 4.52     $ 6.48  
                                 
    Income per share – diluted                            
    Net income from continuing operations $ 1.09     $ 1.46     $ 1.62     $ 4.42     $ 6.45  
    Income from discontinued operations, net of income tax   –       0.09       –       0.10       0.02  
    Net income $ 1.09     $ 1.55     $ 1.62     $ 4.52     $ 6.47  
                                 
    Weighted-average shares outstanding                            
    Basic   20,177       20,172       20,136       20,170       20,123  
    Diluted   20,186       20,183       20,159       20,182       20,144  
                                           
    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (in thousands, unaudited)
               
      September 30,     December 31,  
      2024     2023  
    ASSETS          
    Current assets:          
    Cash and cash equivalents $ 325,881     $ 391,684  
    Accounts receivable, net   200,106       276,868  
    Inventory   70,293       74,995  
    Income taxes receivable   13,383       10,542  
    Prepaid expenses   23,363       18,614  
    Other current assets   7,765       7,922  
    Total current assets   640,791       780,625  
    Property, plant and equipment, net   306,285       294,960  
    Note receivable   72,694       69,005  
    Restricted cash   54,707       85,444  
    Deferred tax assets   59,555       67,241  
    Other assets, net   42,319       43,718  
    Total assets $ 1,176,351     $ 1,340,993  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)          
    Current liabilities:          
    Accounts payable $ 38,897     $ 38,214  
    Accrued expenses   106,203       103,782  
    Income taxes payable   20,100       20,220  
    Decommissioning liability   30,747       21,631  
    Total current liabilities   195,947       183,847  
    Decommissioning liability   140,030       148,652  
    Other liabilities   38,599       47,583  
    Total liabilities   374,576       380,082  
               
    Total equity   801,775       960,911  
    Total liabilities and equity $ 1,176,351     $ 1,340,993  
     
    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands, unaudited) 
                                 
      Three Months Ended     Nine Months Ended  
      September 30,     June 30,     September 30,     September 30,  
      2024     2024     2023     2024     2023  
                                 
    Cash flows from operating activities                            
    Net income $ 21,916     $ 31,359     $ 32,748     $ 91,170     $ 130,356  
    Adjustments to reconcile net loss to net cash from operating activities:                            
    Depreciation, depletion, amortization and accretion   21,077       20,868       20,490       62,392       61,250  
    Loss on Blue Chip Swaps   5,113       –       12,120       5,113       12,120  
    Washington State Tax Settlement   –       –       –       –       (27,068 )
    Decommissioning costs   (5,111 )     (143 )     (3,401 )     (5,684 )     (6,279 )
    Other non-cash items   (2,642 )     4,205       566       4,798       23,357  
    Changes in operating assets and liabilities:   22,162       17,487       (10,112 )     67,396       (38,390 )
    Net cash from operating activities   62,515       73,776       52,411       225,185       155,346  
                                 
    Cash flows from investing activities                            
    Payments for capital expenditures   (12,005 )     (34,744 )     (21,592 )     (67,447 )     (67,218 )
    Proceeds from sales of assets   292       669       9,563       3,577       24,710  
    Proceeds from sales of Blue Chip Swap securities   8,121       –       9,656       8,121       9,656  
    Purchases of Blue Chip Swap securities   (13,234 )     –       (21,776 )     (13,234 )     (21,776 )
    Net cash from investing activities   (16,826 )     (34,075 )     (24,149 )     (68,983 )     (54,628 )
                                 
    Cash flows from financing activities                            
    Distributions to shareholders   –       –       –       (250,417 )     –  
    Repurchase of shares   –       –       –       (962 )     –  
    Other   (358 )     –       –       (1,363 )     (1,116 )
    Net cash from financing activities   (358 )     –       –       (252,742 )     (1,116 )
    Net change in cash, cash equivalents, and restricted cash   45,331       39,701       28,262       (96,540 )     99,602  
    Cash, cash equivalents and restricted cash at beginning of period   335,257       295,556       410,447       477,128       339,107  
    Cash, cash equivalents, and restricted cash at end of period $ 380,588     $ 335,257     $ 438,709     $ 380,588     $ 438,709  
                                 
    Reconciliation of Free Cash Flow                            
    Net cash from operating activities $ 62,515     $ 73,776     $ 52,411     $ 225,185     $ 155,346  
    Payments for capital expenditures   (12,005 )     (34,744 )     (21,592 )     (67,447 )     (67,218 )
    Free Cash Flow $ 50,510     $ 39,032     $ 30,819     $ 157,738     $ 88,128  
                                 
    Free Cash Flow is a Non-GAAP measure. See Non-GAAP Financial Measures for our definition of Free Cash Flow.  
       
    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    REVENUE BY GEOGRAPHIC REGION BY SEGMENT
    (in thousands, unaudited)
                                 
      Three Months Ended     Nine Months Ended  
      September 30,     June 30,     September 30,     September 30,  
      2024     2024     2023     2024     2023  
    U.S. land                            
    Rentals $ 28,934     $ 32,713     $ 37,478     $ 100,653     $ 127,341  
    Well Services   7,027       6,242       8,223       20,735       20,384  
    Total U.S. land   35,961       38,955       45,701       121,388       147,725  
                                 
    U.S. offshore                            
    Rentals   32,228       30,644       44,681       100,123       117,867  
    Well Services   17,489       23,125       14,459       69,486       54,185  
    Total U.S. offshore   49,717       53,769       59,140       169,609       172,052  
                                 
    International                            
    Rentals   36,695       36,494       31,042       105,023       89,225  
    Well Services   74,934       71,863       74,502       211,002       265,993  
    Total International   111,629       108,357       105,544       316,025       355,218  
    Total Revenues $ 197,307     $ 201,081     $ 210,385     $ 607,022     $ 674,995  
                                           
    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    SEGMENT HIGHLIGHTS
    (in thousands, unaudited)
                                 
      Three Months Ended     Nine Months Ended  
      September 30,     June 30,     September 30,     September 30,  
      2024     2024     2023     2024     2023  
    Revenues                            
    Rentals $ 97,857     $ 99,851     $ 113,201     $ 305,799     $ 334,433  
    Well Services   99,450       101,230       97,184       301,223       340,562  
    Total Revenues $ 197,307     $ 201,081     $ 210,385     $ 607,022     $ 674,995  
                                 
    Income (loss) from Operations                            
    Rentals $ 43,856     $ 44,061     $ 56,253     $ 139,128     $ 167,373  
    Well Services   3,789       10,686       10,581       27,867       50,860  
    Corporate and other   (20,030 )     (15,592 )     (12,800 )     (52,570 )     (41,623 )
    Income from operations $ 27,615     $ 39,155     $ 54,034     $ 114,425     $ 176,610  
                                 
    Adjusted EBITDA                            
    Rentals $ 55,915     $ 56,023     $ 68,791     $ 174,959     $ 204,632  
    Well Services   15,427       19,078       15,137       56,028       69,697  
    Corporate and other   (13,576 )     (15,078 )     (12,125 )     (45,096 )     (37,207 )
    Total Adjusted EBITDA $ 57,766     $ 60,023     $ 71,803     $ 185,891     $ 237,122  
                                 
    Adjusted EBITDA Margin                            
    Rentals   57 %     56 %     61 %     57 %     61 %
    Well Services   16 %     19 %     16 %     19 %     20 %
    Corporate and other n/a     n/a     n/a     n/a     n/a  
    Total Adjusted EBITDA Margin   29 %     30 %     34 %     31 %     35 %
                                 
    Adjusted EBITDA is a Non-GAAP measure.  See Non-GAAP Financial Measures for our definition of Adjusted EBITDA and pages 11 and 12 for a reconciliation to income (loss) from operations.  
       
    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    RECONCILIATION OF ADJUSTED EBITDA
    (in thousands, unaudited)
                                 
      Three Months Ended     Nine Months Ended  
      September 30,     June 30,     September 30,     September 30,  
      2024     2024     2023     2024     2023  
                                 
    Net income from continuing operations $ 21,916     $ 29,463     $ 32,620     $ 89,274     $ 129,948  
    Depreciation, depletion, amortization and accretion   21,077       20,868       20,490       62,392       61,250  
    Interest income, net   (5,032 )     (5,760 )     (6,629 )     (17,632 )     (18,581 )
    Income tax expense   6,597       13,370       11,403       34,754       44,615  
    Restructuring expenses and other adjustments (1)   9,074       –       (2,721 )     9,074       (738 )
    Loss on Blue Chip Swap Securities   5,113       –       12,120       5,113       12,120  
    Other (income) expense, net   (979 )     2,082       4,520       2,916       8,508  
    Adjusted EBITDA $ 57,766     $ 60,023     $ 71,803     $ 185,891     $ 237,122  
                                 
    Adjusted EBITDA is a Non-GAAP measure.  See Non-GAAP Financial Measures for our definition of Adjusted EBITDA.  
                                 
    (1) Restructuring expenses and other adjustments for the three and nine months ended September 30, 2024 relate to costs associated with changes in our executive management and other restructuring costs.  Adjustments for the three and nine months ended September 30, 2023 relate to exit and disposal activities related to non-core businesses and other restructuring costs.  
       
    SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
    RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT
    (in thousands, unaudited)
                                 
      Three Months Ended     Nine Months Ended  
      September 30,     June 30,     September 30,     September 30,  
      2024     2024     2023     2024     2023  
    Rentals                            
    Income from operations $ 43,856     $ 44,061     $ 56,253     $ 139,128     $ 167,373  
    Depreciation, depletion, amortization and accretion   12,059       11,962       12,538       35,831       37,259  
    Adjusted EBITDA $ 55,915     $ 56,023     $ 68,791     $ 174,959     $ 204,632  
                                 
    Well Services                            
    Income from operations $ 3,789     $ 10,686     $ 10,581     $ 27,867     $ 50,860  
    Depreciation, depletion, amortization and accretion   8,455       8,392       7,277       24,978       21,558  
    Restructuring expenses and other adjustments(1)   3,183       –       (2,721 )     3,183       (2,721 )
    Adjusted EBITDA $ 15,427     $ 19,078     $ 15,137     $ 56,028     $ 69,697  
                                 
    Corporate                            
    Loss from operations $ (20,030 )   $ (15,592 )   $ (12,800 )   $ (52,570 )   $ (41,623 )
    Depreciation, depletion, amortization and accretion   563       514       675       1,583       2,433  
    Restructuring expenses and other adjustments (1)   5,891       –       –       5,891       1,983  
    Adjusted EBITDA $ (13,576 )   $ (15,078 )   $ (12,125 )   $ (45,096 )   $ (37,207 )
                                 
    Total                            
    Income from operations $ 27,615     $ 39,155     $ 54,034     $ 114,425     $ 176,610  
    Depreciation, depletion, amortization and accretion   21,077       20,868       20,490       62,392       61,250  
    Restructuring expenses and other adjustments (1)   9,074       –       (2,721 )     9,074       (738 )
    Adjusted EBITDA $ 57,766     $ 60,023     $ 71,803     $ 185,891     $ 237,122  
                                 
    Adjusted EBITDA is a Non-GAAP measure.  See Non-GAAP Financial Measures for our definition of Adjusted EBITDA.  
                                 
    (1) Restructuring expenses and other adjustments for the three and nine months ended September 30, 2024 relate to costs associated with changes in our executive management and other restructuring costs.  Adjustments for the three and nine months ended September 30, 2023 relate to exit and disposal activities related to non-core businesses and other restructuring costs.  
       

    FOR FURTHER INFORMATION CONTACT:
    Jamie Spexarth, Chief Financial Officer
    1001 Louisiana St., Suite 2900
    Houston, TX 77002
    Investor Relations, ir@superiorenergy.com, (713) 654-2200

    The MIL Network –

  • MIL-OSI: Oxbridge Re Announces 2024 Third Quarter Results on November 13, 2024

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, Oct. 30, 2024 (GLOBE NEWSWIRE) — Oxbridge Re (NASDAQ: OXBR) announced that it plans to hold a conference call on Wednesday November 13, 2024 at 4:30 p.m. Eastern time to discuss results for the third quarter and nine months ending ended September 30, 2024. Financial results will be issued in a press release after the close of the market on the same day. Oxbridge Re’s management will host the conference call, followed by a question and answer period.

    Interested parties can listen to the live presentation by dialing the listen-only number below.

    Date: November 13, 2024
    Time: 4:30 p.m. Eastern time
    Listen-only toll-free number: 877 524-8416
    Listen-only international number: +1 412 902-1028
    Passcode (required): 13746519
     

    Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact InComm Conferencing at 201 493-6280 or 877 804-2066

    A replay of the call will be available by telephone after 4:30 p.m. Eastern time on the same day of the call and via the Investor Information section of Oxbridge’s website at www.OxbridgeRe.com until November 26, 2024.

    Toll-free replay number: 877-660-6853
    International replay number: +1 201-612-7415
    Replay passcode: 13746519
     

    About Oxbridge Re Holdings Limited

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge Re”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc, Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors.

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    The MIL Network –

  • MIL-OSI: iRhythm Technologies Receives FDA 510(k) Clearance for Design Modifications to Its Zio® AT Device

    Source: GlobeNewswire (MIL-OSI)

    Zio AT device, along with the Zio ECG Utilization Software (ZEUS) (K222389), enables the provision of ambulatory Mobile Cardiac Telemetry (MCT) monitoring service for non-critical care patients

    FDA 510(k)-cleared enhancements will be available in 2025

    SAN FRANCISCO, Oct. 30, 2024 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, announced today that the U.S. Food and Drug Administration (FDA) has granted clearance for its 510(k) submission related to design modifications and labeling updates for the Zio AT device. Zio AT remains commercially available on the market to ship to customers in the United States, and product enhancements subject to this 510(k) clearance will be available in 2025.

    “This clearance is related to enhancements to our Zio AT product, including design features and labeling updates intended to address areas of concern specific to Zio AT that were noted in a 2023 FDA warning letter to the Company,” said Quentin Blackford, iRhythm President and Chief Executive Officer. “We believe these features that were subject to this clearance advance our technology for the benefit of patients, physicians, and healthcare systems who rely on our Zio AT services. At all times, we remain committed to patient safety, physician trust in Zio AT’s clinical performance, service quality, and regulatory compliance.”

    About the Zio AT System

    The Zio AT device is a prescription-only outpatient cardiac telemetry device, commonly referred to as a mobile cardiac telemetry device, which is used for the provision of our mobile cardiac telemetry (MCT) services. The Zio AT system consists of: the Zio AT patch, an ECG monitor that continuously records ECG data for up to 14 days; the wireless gateway that provides connectivity between the Zio AT patch and the Zio ECG Utilization Software (ZEUS) to transmit data during the wear period; and ZEUS, iRhythm’s deep-learning algorithm that analyzes cardiac events transmitted by the Zio AT patch and gateway. The Zio AT services provide event transmission reports during wear and a comprehensive end-of-wear report1-4 with preliminary findings to the treating medical professional for final clinical decisions. The Zio AT services are provided by iRhythm’s independent diagnostic testing facilities located in San Francisco, California, Deerfield, Illinois and Houston, Texas.

    Zio Services’ Clinically Proven Performance

    The value of the Zio service has been demonstrated in over 100 original scientific research manuscripts5. Zio AT’s patient-centered design enables high patient compliance and analyzable time with minimal noise or artifact6-8, and real-world data shows an impressive 98% patient compliance9, in part thanks to Zio AT’s zero required patient manipulations. Furthermore, physicians agree with the Zio service’s comprehensive end-of-wear report 99% of the time10-11.

    About iRhythm Technologies, Inc.
    iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats12 into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all. To learn more about iRhythm, including its portfolio of Zio products and services, please visit irhythmtech.com.

    Zio AT Indications For Use

    The Zio AT device is intended to capture and transmit symptomatic and asymptomatic cardiac events and record continuous electrocardiogram (ECG) data for long-term monitoring. It is indicated for use on patients 18 years or older who may be asymptomatic or who may suffer from transient symptoms such as palpitations, shortness of breath, dizziness, light-headedness, pre-syncope, syncope, fatigue, or anxiety. It is not intended for use on critical care patients.

    Contraindications

    • Do not use the Zio AT device for patients with symptomatic episodes where variations in cardiac performance could result in immediate danger to the patient or when real-time or in-patient monitoring should be prescribed.
    • Do not use the Zio AT device for patients with known history of life-threatening arrhythmias.
    • Do not use the Zio AT device in combination with external cardiac defibrillators or high frequency surgical equipment near strong magnetic fields or devices such as MRI.
    • Do not use the Zio AT device on patients with a neuro-stimulator, as it may disrupt the quality of ECG data.
    • Do not use the Zio AT device on patients who do not have the competency to wear the device for the prescribed monitoring period.

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    1. Zio AT Clinical Reference Manual. iRhythm Technologies, 2022.
    2. Continuous, uninterrupted refers to the recording of ECG data. Zio AT Gateway transmissions may be impacted by a variety of factors. See Product Labeling for more information.
    3. Zio AT is contraindicated for critical care patients.
    4. Do not use Zio AT for patients with symptomatic episodes where variations in cardiac performance could result in immediate danger to the patient or when real-time or in-patient monitoring should be prescribed. Refer to the Zio AT labeling and Clinical Reference Manual for full contraindications.
    5. Data on file. iRhythm Technologies, 2023.
    6. Data on file. iRhythm Technologies, 2022-2023.
    7. Zio XT Clinical Reference Manual. iRhythm Technologies, 2019.
    8. Zio monitor Instructions for Use. iRhythm Technologies, 2023.
    9. Zio AT Clinical Reference Manual. iRhythm Technologies, 2022.
    10. Data on file. iRhythm Technologies, 2021-2022.
    11. Based on a review of all online Zio XT, Zio monitor, and Zio AT end-of-wear reports. Data on file. iRhythm Technologies, 2023.
    12. Based on the US and UK data using Zio ECG monitors. Data on file. iRhythm Technologies, 2023.

    The MIL Network –

  • MIL-OSI: Kneat to Announce 2024 Third-Quarter Financial Results November 6, 2024

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Ireland, Oct. 30, 2024 (GLOBE NEWSWIRE) — kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or the “Company”) a leader in digitizing and automating validation and quality processes, announced today that the Company will release its financial results for the quarter ended September 30, 2024, after TSX market close on November 6, 2024.

    Eddie Ryan, Chief Executive Officer and Hugh Kavanagh, Chief Financial Officer, will host a conference call and Q&A for sell side analysts via webcast on November 7, 2024 at 09:00 ET (14:00 GMT).

    Interested parties can register for the live webcast via the following link:

    Register Here

    The third-quarter financial results will be available from the Financial Information section of the Investors page on the Kneat Solutions website, at: https://kneat.com/investors/ 

    About Kneat
    Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. We lead the industry in customer satisfaction with an unblemished record for retention and implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show a 40% or more reduction in validation cycle times, nearly 20% faster speed to market, and 80% reduced changeover time. For more information visit www.kneat.com.

    For further information:

    Katie Keita, Investor Relations Lead, +902-706-9074, katie.keita@kneat.com

    The MIL Network –

  • MIL-OSI: CPS to Host Conference Call on Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Oct. 30, 2024 (GLOBE NEWSWIRE) — Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that it will hold a conference call on Friday, November 1, 2024 at 1:00 p.m. ET to discuss its third quarter 2024 operating results.

    Those wishing to participate can pre-register for the conference call at the following link https://register.vevent.com/register/BIaadcdbbe0a7849aa918eac85c86475ff. Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the schedule start time. A replay will be available beginning two hours after conclusion of the call for 12 months via the Company’s website at https://ir.consumerportfolio.com/investor-relations.

    About Consumer Portfolio Services, Inc.

    Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

    Investor Relations Contact

    Danny Bharwani, Chief Financial Officer

    949-753-6811

    The MIL Network –

  • MIL-OSI Economics: Adesina and Banga lead the charge to end hunger in Africa at 2024 Borlaug Dialogue

    Source: African Development Bank Group
    In a powerful opening to the 2024 Norman E. Borlaug International Dialogue, the president of the African Development Bank Group Dr. Akinwumi Adesina and his counterpart at the World Bank Ajay Banga, stressed the need for more global action against hunger, a goal slipping further away due to the combined effects of conflict,…

    MIL OSI Economics –

  • MIL-OSI Global: What the Thai cave rescue can teach us about unconventional leadership

    Source: The Conversation – Canada – By Amélie Cloutier, Professor of Strategy and Innovation, Université du Québec à Montréal (UQAM)

    Leadership can emerge from unexpected places, especially during times of crisis. One such example occurred during the 2018 rescue of a group of 12 young soccer players and their coach, who were trapped in a cave in northern Thailand after heavy rains blocked their exit route.

    The 17-day rescue operation involved a co-ordinated response from thousands of people, including 2,000 soldiers, 200 divers and personnel from 100 government agencies. The success of the operation was largely due to an unconventional group of leaders: an international group of cave divers whose unique expertise was vital to the rescue effort.

    Our recent research on the rescue aimed to explore how leadership can emerge outside of the traditional chain of command. To do this, we analyzed a documentary and news coverage about the rescue, along with scientific literature and online searches, including LinkedIn profiles.

    We wanted to better understand development of leaders who don’t adhere to the stereotypical image of heroic or charismatic leaders. These atypical leaders challenge our conventional ideas about what a leader should look like, or how they should act.

    From advisers to leaders

    Tham Luang Nang Non is a cave located beneath Doi Nang Non, a mountain range on the border between Thailand and Myanmar. On June 23, 2018, a group of 12 boys from a local soccer team and their assistant coach became trapped in the cave after heavy rainfall blocked their way out.

    On June 25, Royal Thai Navy SEAL divers arrived and began searching the cave for the team, but the flooding made it impossible to locate them. Initially, civilian cave divers were brought in as advisers to the Navy SEALs. However, when the SEAL divers failed to locate the trapped team, the cave divers took the lead.

    On July 2, two divers from the British Cave Rescue Council found the group alive, and their roles shifted from being advisers to active participants in the rescue operation.

    Following the discovery, the Thai Navy SEAL divers attempted to reclaim their roles as primary rescuers, believing they had the ability to complete the mission. However, their overconfidence and underestimation of the challenges ahead led to a critical setback: those who reached the children were unable to return with them due to a lack of oxygen.

    With the situation worsening, the cave divers successfully persuaded the conventional leaders in place — Governor Narongsak Osatanakorn, Lt. Gen. Bancha Duriyapunt, Rear-Admiral Apakorn Youkongkaew and Capt. Anan Surawan — to allow them to take over the mission.

    The cave divers assembled a new team of expert cave divers from around the world. The extraction began on July 8, and by July 10, everyone had been rescued.

    The ‘Rudolph Effect’

    The rescue operation demonstrates how individuals with specialized skills and social capital can step up to lead effectively, even in the most challenging situations.

    Before the rescue, many viewed cave diving as odd, and even abnormal. In the documentary The Rescue, cave diver Josh Bratchley acknowledged that being in a pitch-black cave underwater is “probably some people’s worst nightmares.” But for cave diver Jim Warny, “once I get underground, that all disappears.”

    For these self-described unconventional individuals, their love for cave diving and exploration serves as a form of escape and empowerment, while accepting that they stand apart from the norm.

    However, their knowledge of navigating cold and dark waters underground, combined with their capital within the cave diving community, made the cave divers effective leaders. This case study demonstrates how leadership can emerge unexpectedly, and how atypical skills like cave diving, if valued and encouraged, can lead to innovative solutions.

    In our study, we coined the term the “Rudolph Effect” to describe how outcasts and unconventional individuals can become key leaders when given opportunities. Like Rudolph the Red-Nosed Reindeer, the term’s namesake, these leaders can guide their teams through extreme situations effectively, using skills and perspectives that traditional leaders might not possess.

    Unconventional and trustworthy helpers can transform into leaders, leveraging their unique skills, knowledge and social capital to manage extreme situations. But this transformation is only possible if they have the chance to demonstrate their abilities.

    Cultivating unconventional leaders

    The need for these unique leaders isn’t limited to extreme situations. By highlighting an extreme example, we aim to show that managers should create more opportunities for unconventional thinkers to contribute, even in day-to-day situations.

    Managers should identify and nurture leadership potential in individuals from diverse backgrounds and experiences. By doing this, organizations can not only improve their ability to handle crises, but also widen their pool of potential leaders. This diversity strengthens companies, making them more resilient and adaptable when facing unexpected challenges.

    This case study serves as a reminder for managers to constantly reassess and adjust their resources to achieve their goals. In tough situations, it can be beneficial to bring in leaders who think outside the box.

    Managers should be aware of the unique skills and connections within their teams to identify these unconventional leaders during their risk planning. They should also have backup plans ready in case initial solutions prove ineffective.

    Amélie Cloutier receives funding from FRQSC.

    Andrew Webb receives funding from SSHRC and le Secrétaire du Conseil du Trésor du Québec.

    – ref. What the Thai cave rescue can teach us about unconventional leadership – https://theconversation.com/what-the-thai-cave-rescue-can-teach-us-about-unconventional-leadership-233538

    MIL OSI – Global Reports –

  • MIL-OSI Global: I research rap lyrics and testified in a Toronto rapper’s murder trial

    Source: The Conversation – Canada – By Jabari M. Evans, Assistant Professor of Race and Media, School of Journalism and Mass Communications, University of South Carolina

    Toronto rapper Top5 appearing in his music video ‘Movie’ featuring the rappers Why G and Bundog. The Crown recently stayed murder charges against Top5 after a judge ruled his lyrics and social media content could not be used as evidence. (YouTube/Top5)

    In May, I was in my office grading papers when an email came through from Arika, a paralegal working for Toronto lawyer Gary Grill. They were reaching out to me about potentially serving as an expert witness in a murder trial. The case involved Hassan Ali, better known as the rapper Top5, who was charged in 2021 with first-degree murder in the shooting of 20-year-old accounting student Hashim Omar Hashi.

    Arika mentioned that they had come across my research on drill rap and hoped I could testify on the inadmissibility of rap lyrics and music videos as criminal evidence. Without hesitation, I agreed.

    As an academic expert on hip-hop culture, Black youth, the music industry and the digitization of artistic expression, my research explores the intersection of cultural production, race and legal systems, focusing particularly on drill music culture.

    Drill music is a subgenre of hip-hop that originated in Chicago, characterized by its gritty, raw lyrics focused on street life, violence and survival, often reflecting the harsh realities of inner-city environments.

    Lyrics as evidence

    In September, a judge ruled that Top5’s social media posts, music videos and lyrics were inadmissible as evidence, recognizing that much of what he posted was part of his artistic persona. As a result, the charges against him were stayed.

    The Canadian legal system, like its U.S. counterpart, has allowed these forms of creative expression to be weaponized against artists. This was evident in the case of Chael Mills and Lavare Williams, where rap lyrics were used as evidence contributing to their convictions for murder. That case (and others like it) opened the door for rap lyrics to be used against artists in court, further entrenching harmful stereotypes about Black men and violence. This practice is unjust and perpetuates racial biases.

    Though Top5’s lyrics didn’t explicitly threaten the victim in this case, the prosecution used songs and social media posts in which he alludes to the Go Getem Gang (his crew) being a criminal group. In 2023, he appeared in a music video while in prison where he said: “I was 18 when I bought a gun, 22 when I shot your son.”

    Using rap lyrics and music videos as evidence is not only unfair but it perpetuates the dangerous assumption that rappers’ personas are entirely authentic representations of who they are. This often results in creative expression being misinterpreted as autobiographical fact, jeopardizing someone’s freedom based on their art.

    However, when I delved into Top5’s online presence, I was struck by just how sensational his persona was. Beyond the music videos, he is an avid vlogger and live streamer, frequently discussing recent shootings, open cases involving his friends and making overt threats toward his rivals — all while name-dropping his connections, including Drake. He was using social media in a way that blurred the line between artistic performance and self-incrimination.

    This placed me in a difficult moral position. Reviewing all the evidence and seeing Top5’s brazen online behaviour made me wonder whether defending him would undermine my larger argument: that rap lyrics and videos shouldn’t be used as evidence because they are artistic expressions, not confessions.

    However, this internal debate led me to reaffirm my stance: the very assumptions I was grappling with were precisely what I had been fighting against. Even if Top5 seemed to push the boundaries, it was still unjust for the legal system to interpret his art and social media as literal truths.

    ‘Heard of Me’ by Top5 featuring Why G.

    Clout chasing

    What became clear to me was that Top5, like many young rappers, was caught in the grip of clout chasing — a phenomenon driven by the need for attention and validation in today’s social media age.

    Clout chasing isn’t just about gaining followers; it reflects deeper issues in society, especially among Black youth.

    As sociologist Elijah Anderson described, the tension between earning respect in the streets and striving for middle-class success is central to understanding drill rappers like Top5. On one side, Black youth are encouraged to adopt “decency” as defined by white society and achieve upward mobility through socially acceptable means.

    On the other, they must navigate the “code of the streets,” where respect is earned through fearlessness and survival, often in defiance of mainstream societal norms.

    Top5’s rise illustrates this tension vividly. His strategy for visibility online relied heavily on broadcasting the most sensational aspects of his life — threats, rivalries and bravado — all while crafting a persona as a street entrepreneur.

    However, Top5’s lyrics, videos and social media posts exist in a gray area between reality and performance art. What Hassan Ali creates as Top5 is a carefully constructed character, not a confession to crimes.

    This distinction is crucial in understanding why these forms of expression should not be used as evidence in court. The very nature of rap as a genre involves exaggeration, metaphor and artistic license, and treating it as literal truth is both unjust and misleading.

    The broader implications of clout chasing and the digital age on legal proceedings are significant. Top5’s use of digital clout is, in many ways, a symptom of what some scholars have called “emotional illiteracy” among some young Black men — a kind of bravado or fearlessness that manifests as aggression or recklessness online.

    Yet, this behaviour is often misunderstood. It’s not about incriminating oneself. It’s about asserting one’s worth and survival in a society that has long marginalized young Black voices.

    A trailer for ‘As We Speak: Rap Music on Trial,’ a documentary that explores the weaponization of rap lyrics in the U.S. criminal justice system.

    Legal implications

    The judge’s decision in Top5’s case was groundbreaking. It underscored that even in an era of social media oversharing, courts must be careful not to conflate performance with reality. For the first time, a court acknowledged that an artist’s social media content could be as much a part of their creative self-expression as their lyrics or music videos.

    This ruling was not only significant for rap and hip-hop artists who have long been subjected to legal scrutiny based on their work. It also signals a growing recognition that creative expression — whether in the form of lyrics, videos or even Instagram posts — cannot be treated as literal fact without risking injustice.

    As rap music continues to evolve and engage with social issues, it’s imperative that the legal system evolves alongside it, developing a more nuanced understanding of artistic expression in the digital age.

    Using rap music as evidence in criminal trials is not just a legal issue but a cultural one. It speaks to how society views Black art and Black lives. By treating rap lyrics as confessions, the legal system perpetuates harmful stereotypes about Black men as inherently violent or criminal.

    The decision in Top5’s case represents a step forward, but the fight for justice is far from over. We must remain vigilant in protecting the creative freedoms of all artists, regardless of how controversial their work may seem.

    Jabari M. Evans does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. I research rap lyrics and testified in a Toronto rapper’s murder trial – https://theconversation.com/i-research-rap-lyrics-and-testified-in-a-toronto-rappers-murder-trial-241884

    MIL OSI – Global Reports –

  • MIL-OSI USA: Congressman Bean Named 2024 Hero of Main Street

    Source: United States House of Representatives – Representative Aaron Bean Florida (4th District)

    WASHINGTON—The National Retail Federation (NRF) recently presented U.S. Congressman Aaron Bean (FL-04) with the Hero of Main Street Award. Congressman Bean earned this honor for his tireless work during the 118th Congress to prioritize small businesses and empower a vibrant retail industry. 

    In Florida, retail directly supports more than 2.3 million local jobs and contributes more than $357.4 billion in economic activity.

    “As a former small business owner, I know firsthand the burdens small businesses face. As a member of the House Small Business Committee, I’m committed to restoring optimism and advancing solutions to make it easier for owners to invest, hire, and watch their enterprises grow.”

    BACKGROUND

    Congressman Bean has introduced and supported the following pieces of legislation on behalf of the Fourth District’s small businesses and retail sector:

    • Passed H.R. 4666, We Want Our Money Back Act: Requires the Inspector General of the SBA to report to Congress with quarterly updates on the ongoing Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) fraud investigations.
       
    • Introduced H.R. 9033, the Let American Businesses Be on Record (LABOR) Act: Requires the Department of Labor (DOL) to hold panels with small business owners, as part of the Small Business Regulatory Enforcement Fairness Act (SBREFA), which will be impacted during the rulemaking process so that changes can be made before the rule is finalized.
       
    • Introduced H.R. 2744, the Freedom from Government Competition Act of 2023: Increases opportunities for private industries to provide goods and services without the threat of taxpayer-funded government competition. This bill puts American businesses first and saves taxpayer dollars from duplicative and wasteful spending.
       
    • Introduced H.R.7984, the Rural Small Business Resilience Act: Would require the Small Business Administration (SBA) to improve access to disaster assistance and relief programs for rural business owners to efficiently mitigate effects of natural disasters.
       
    • Cosponsored H.R. 4721, the Main Street Tax Certainty Act: Permanently extends tax deductions for small and family-owned businesses, giving them greater flexibility to invest in new employers, expansion, or their communities.
       
    • Cosponsored H.R. 895, the Combatting Organized Retail Crime Act: Would deter future attacks on U.S. retailers by enhancing federal coordination, establishing an aligned multi-agency response, and creating new tools to tackle evolving trends in organized retail theft. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Hageman Team Joins House Election Observer Program

    Source: United States House of Representatives – Wyoming Congresswoman Harriet Hageman

    Washington, DC – Today, Congresswoman Harriet Hageman announced that members of her staff will participate in the House of Representatives Election Observer Program. The Election Observer Program will deploy congressional observers to election sites across the country in order to record on-the-ground, factual information for use during elections contests or seating battles and for other purposes.

    Representative Hageman stated, “Earlier this year, the House of Representatives passed the SAVE Act, which I cosponsored, to require states to obtain proof of citizenship—in person—when registering an individual to vote, as well as to require states to remove non-citizens from existing voter rolls. The Chuck Schumer-led Senate failed to take up the bill. 

    “To safeguard election integrity, we must use all means available to us. That is why my office is participating in the House Election Observer Program. Faith in our electoral process is the bedrock of our system of government. It is vital that every legal vote is counted, fraudulent voting is detected and reported, and proper chain of custody procedures for ballots are carefully followed at polling locations.”

    Background from the Committee on House Administration: 

    As of today, House Republicans have over 200 Republican congressional staffers signed up to participate from over 60 Member and Leadership offices and 12 full and subcommittees. The 2024 Election Observer Program is the most robust election integrity effort in House of Representatives history. 
     
    As the issue of election integrity continues to rise to the forefront in voters’ minds, this program is more important than ever to ensure every lawful vote is counted in free, fair, and secure elections where the stakes are highest, including in races with serious election administration issues and in battleground districts where the majority is on the line.

    ###

    Contact: Chris Berardi, Sr. Advisor/Communications Director

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Cuellar Announces $11,077,810 in Federal Funding for Opportunity Home San Antonio

    Source: United States House of Representatives – Congressman Henry Cuellar (TX-28)

    SAN ANTONIO, TX – Today, Congressman Henry Cuellar, Ph.D. (TX-28) announced $11,077,810 in federal funding for Opportunity Home San Antonio. 

    “Today, I am pleased to announce $11,077,810 in federal funding for Opportunity Home San Antonio,” said Dr. Cuellar, a senior member of the House Appropriations Committee. “This funding is critical in combating health hazards in public households in San Antonio. This funding is an investment in the health and long-term success of the community. I want to thank Opportunity Home Chairman of the Board Gabriel Lopez, Acting President and CEO Michael Reyes, Government Relations Advisor Hector Morales, and State Representative Josey Garcia for being here today and for their effort in fighting for a healthier community.” 

    Congressman Cuellar secured the funding from the Department of Housing and Urban Development’s Capital Fund Housing-Related Hazards and Lead-Based Paint Capital Fund Programs. The programs work to evaluate and eliminate residential health hazards in public housing, including lead-based paint, carbon monoxide, mold, radon, and fire safety. Opportunity Home San Antonio received $4,800,000 from the Lead-Based Paint Capital Fund and $6,277,810 from the Capital Fund Housing Related-Hazards. 

    Congressman Cuellar will continue to fight for the funding and resources necessary to make the region a healthier, more prosperous community. 

    MIL OSI USA News –

  • MIL-OSI USA: SPC Tornado Watch 695

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL5

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Tornado Watch Number 695
    NWS Storm Prediction Center Norman OK
    435 PM CDT Wed Oct 30 2024

    The NWS Storm Prediction Center has issued a

    * Tornado Watch for portions of
    Eastern Kansas
    Western Missouri

    * Effective this Wednesday afternoon and evening from 435 PM
    until 1000 PM CDT.

    * Primary threats include…
    A few tornadoes likely with a couple intense tornadoes possible
    Scattered damaging winds likely with isolated significant gusts
    to 80 mph possible
    Isolated large hail events to 1.5 inches in diameter possible

    SUMMARY…Fast moving thunderstorms over eastern Kansas will track
    across the watch area through this evening. Damaging winds and a
    few tornadoes are the primary concerns with these storms.

    The tornado watch area is approximately along and 65 statute miles
    east and west of a line from 50 miles south southwest of Chanute KS
    to 60 miles north northeast of Saint Joseph MO. For a complete
    depiction of the watch see the associated watch outline update
    (WOUS64 KWNS WOU5).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Tornado Watch means conditions are favorable for
    tornadoes and severe thunderstorms in and close to the watch
    area. Persons in these areas should be on the lookout for
    threatening weather conditions and listen for later statements
    and possible warnings.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 693…WW 694…

    AVIATION…Tornadoes and a few severe thunderstorms with hail
    surface and aloft to 1.5 inches. Extreme turbulence and surface wind
    gusts to 70 knots. A few cumulonimbi with maximum tops to 450. Mean
    storm motion vector 24035.

    …Hart

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW5
    WW 695 TORNADO KS MO 302135Z – 310300Z
    AXIS..65 STATUTE MILES EAST AND WEST OF LINE..
    50SSW CNU/CHANUTE KS/ – 60NNE STJ/SAINT JOSEPH MO/
    ..AVIATION COORDS.. 55NM E/W /31WSW OSW – 64SW DSM/
    HAIL SURFACE AND ALOFT..1.5 INCHES. WIND GUSTS..70 KNOTS.
    MAX TOPS TO 450. MEAN STORM MOTION VECTOR 24035.

    LAT…LON 37009700 40569572 40569324 37009465

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU5.

    Watch 695 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    High (70%)

    Probability of 1 or more strong (EF2-EF5) tornadoes

    Mod (40%)

    Wind

    Probability of 10 or more severe wind events

    Mod (60%)

    Probability of 1 or more wind events > 65 knots

    Mod (30%)

    Hail

    Probability of 10 or more severe hail events

    Mod (30%)

    Probability of 1 or more hailstones > 2 inches

    Low (10%)

    Combined Severe Hail/Wind

    Probability of 6 or more combined severe hail/wind events

    High (80%)

    For each watch, probabilities for particular events inside the watch (listed above in each table) are determined by the issuing forecaster. The “Low” category contains probability values ranging from less than 2% to 20% (EF2-EF5 tornadoes), less than 5% to 20% (all other probabilities), “Moderate” from 30% to 60%, and “High” from 70% to greater than 95%. High values are bolded and lighter in color to provide awareness of an increased threat for a particular event.

    MIL OSI USA News –

  • MIL-OSI Security: Ship Management Company Fined $1.75M for Failing to Maintain an Accurate Oil Record Book that Concealed Unauthorized Discharges at Sea

    Source: United States Attorneys General

    Gremex Shipping S.A. de C.V., a Mexican corporation that managed several ships, including the M/V Suhar, pleaded guilty and was sentenced today in federal district court in Pensacola, Florida, for creating and providing false records to the U.S. Coast Guard to conceal its illegal discharge of oily bilge waste into the ocean, which is a felony violation of the Act to Prevent Pollution from Ships (APPS).

    The charge stems from a Coast Guard investigation of the ship once it arrived in Pensacola on Aug. 25, 2023. The Suhar is a 7,602 gross ton Panamanian-flagged ocean-going bulk carrier that routinely hauled cement from Tampico, Mexico, to Pensacola. Since March 2021, day-to-day operation of the ship was undertaken by Gremex, which was responsible for hiring all crew, and ensuring compliance with all policies on protection of the environment in accordance with international regulations. After boarding the ship to determine compliance with all applicable laws, Coast Guard personnel determined that the vessel’s crew had regularly discharged untreated oily bilge water into sea in a manner that bypassed onboard pollution control equipment, and then falsified the ship’s oil record book to conceal these discharges.

    As part of normal vessel operations, large ocean-going ships like the Suhar generate oily bilge water that periodically needs to be discharged for the vessel to operate safely. The United States and Panama are both parties to an international treaty known as MARPOL, which regulates and limits the at-sea discharge of oily bilge water. To satisfy these marine pollution requirements, vessels typically discharge oily bilge water after it has been processed through an oily water separator, a piece of onboard pollution control equipment which removes oil from bilge water prior to discharge. Ships are required to maintain an oil record book that documents all discharges of oily bilge water so authorities can monitor ships for compliance with these international requirements. Federal law requires that foreign ships arriving at U.S. ports maintain an accurate oil record book.

    Consistent with a sentencing recommendation jointly proposed by the government and Gremex, the court sentenced the company to pay a $1.75 million fine, serve a four-year term of probation and commit to developing and implementing an environmental compliance plan that will be in effect during the time the company is on probation.

    Assistant Attorney General Todd Kim of the Environment and Natural Resources Division and U.S. Attorney Jason R. Coody for the Northern District of Florida made the announcement.

    The Coast Guard’s Investigative Service investigated the case.

    Trial Attorney Joel La Bissonniere of the Environment and Natural Resources Division’s Environmental Crimes Section and Assistant U.S. Attorney Ryan Love for the Northern District of Florida prosecuted the case. 

    MIL Security OSI –

  • MIL-OSI: Sprott Announces Date for 2024 Third Quarter Results Webcast

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Sprott Inc. (NYSE:SII) (TSX:SII) (“Sprott”) announced today that it plans to release its third quarter results at 7:00 a.m. on November 6, 2024. Sprott will host an earnings webcast that morning at 10:00 a.m. to discuss the results. Sprott CEO, Whitney George, together with Sprott CFO, Kevin Hibbert and Sprott Asset Management CEO, John Ciampaglia, will host the webcast, which can be accessed as outlined below.

    PLEASE NOTE: Research analysts who cover the company should register at:
    https://register.vevent.com/register/BIecf4c3c925374bf19a6ce5051f64dd6d

    Pre-registration is now open.

    About Sprott
    Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California. The company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.

    Investor contact information: (416) 943-4394 or ir@sprott.com.

    The MIL Network –