Blog

  • MIL-OSI USA: Senator Collins Participates in Factory of the Future Groundbreaking at UMaine

    US Senate News:

    Source: United States Senator for Maine Susan Collins
    Published: October 29, 2024

    Click HERE and HERE for individual photos.
    Orono, ME – Today, U.S. Senator Susan Collins participated in a groundbreaking for the Green Engineering & Materials Factory of the Future at the University of Maine (UMaine). The Factory of the Future will be a 50,000 square foot facility that will usher in a new era of large-scale advanced manufacturing at the nexus of engineering and computing. The Factory will serve as a new national model to integrate research, leaning, and manufacturing.
    “UMaine’s Factory of the Future will establish Maine as a national leader in additive and advanced manufacturing,” said Senator Collins. “This state-of-the-art facility will spur innovation, strengthen our national defense, and give students invaluable experience in pioneering high-tech industries.”
    Senator Collins has secured more than $90 million to support the Factory of the Future project. In addition, the Fiscal Year 2025 defense spending bill, which still awaits consideration by the Senate and House of Representatives, includes $15 million to further support the Factory project.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Fatal traffic accident in Kwai Chung

    Source: Hong Kong Government special administrative region

    Fatal traffic accident in Kwai Chung
    Fatal traffic accident in Kwai Chung
    ************************************

         Police are investigating a fatal traffic accident happened in Kwai Chung last night (October 29) in which a woman died.           At around 10.30pm yesterday, a taxi driven by a 66-year-old man was travelling along Kwai Chung Road towards Tsuen Wan. Upon approaching 997-999 Kwai Chung Road, the taxi reportedly knocked down the 75-year-old woman who was crossing the road.     Sustaining multiple injuries, the woman was rushed to Princess Margaret Hospital in unconscious state and was certified dead at 0.25am today (October 30).     The taxi driver was arrested for dangerous driving causing death and is being detained for enquiries.     Investigation by the Special Investigation Team of Traffic, New Territories South is underway.     Anyone who witnessed the accident or has any information to offer is urged to contact the investigating officers on 3661 1300.

     
    Ends/Wednesday, October 30, 2024Issued at HKT 6:59

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Six Charged in Scheme to Defraud the Federal Government

    Source: US State of Vermont

    Six defendants have been charged for their roles in schemes to rig bids, defraud the government and pay bribes and kickbacks in connection with the sale of IT products and services to federal government purchasers, which resulted in overcharges of millions of dollars to the U.S. government, including the Department of Defense (DoD). 

    On Oct. 9 and Oct. 16, a federal grand jury in Baltimore returned indictments against two defendants. Four other defendants were also charged. These are the first charges in the Justice Department’s ongoing investigation into IT manufacturers, distributors and resellers who sell products and services to government purchasers, including to the intelligence community. 

    “Antitrust crimes can undermine competition for products and services that are vital to our national security,” said Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division. “When fraudsters siphon taxpayer funds, the Antitrust Division and its Procurement Collusion Strike Force (PCSF) partners across the government will hold accountable those who collude to subvert competition, line their pockets with federal procurement dollars and compromise the integrity of our intelligence community programs.”

    “This office and our partners will use all available resources to hold accountable those who would undermine and distort the government’s procurement of goods and services, especially those related to our cybersecurity infrastructure,” said U.S. Attorney Erek L. Barron for the District of Maryland. 

    “This investigation demonstrates the vital need to protect the DoD procurement process, particularly within the Intelligence Community,” said Special Agent in Charge Christopher Dillard of the DoD Office of Inspector General, Defense Criminal Investigative Service (DCIS), Mid-Atlantic Field Office. “The Defense Criminal Investigative Service is committed to identifying fraudsters who abuse public trust and enrich themselves through criminal schemes.”

    “There is no place for fraudsters and crooks scheming to manipulate the government bidding process for personal gain,” said Special Agent in Charge William J. DelBagno of the FBI Baltimore Field Office. “The FBI remains steadfastly committed to identifying, investigating and bringing to justice those conspiring to enrich themselves by cheating taxpayers.”

    “Investigating complex fraud schemes is a top priority of ours,” said National Security Agency Acting Inspector General Kevin Gerrity. “I commend our team, our law enforcement partners and the Justice Department for their work protecting the integrity of federal contracting.”

    “Each part of the government must do its part to detect and prosecute instances of waste, fraud and abuse, and CIA’s Office of Inspector General was pleased to join its law enforcement partners in investigating this egregious case,” said CIA Inspector General Robin C. Ashton.

    United States v. Victor Marquez

    Victor M. Marquez, a Maryland resident and owner of two IT companies with significant government contracts, was charged in a four-count indictment with wire fraud conspiracy, wire fraud and major fraud against the United States for rigging bids and inflating the amount of money obtained from valuable IT contracts. 

    Antwann C.K. Rawls, an employee of one of Marquez’s companies, and Scott A. Reefe, an IT sales executive, have been charged for their respective roles in the conspiracy.

    As alleged in the indictment, Marquez, Rawls, Reefe and their co-conspirators used their positions of trust to learn sensitive, confidential procurement information, including procurement budgets for large U.S. government IT contracts. The co-conspirators used that inside information to craft bids at artificially determined, non-competitive and non-independent prices, ensuring Marquez’s company would win the procurement. 

    According to court documents, the co-conspirators shared their bids in advance of submitting them to the government, with one co-conspirator emailing that he would submit a “high price third bid.” Marquez and his co-conspirators submitted their collusive bids despite knowing the government sought independent, competitive bids for the valuable contracts, and despite Marquez’s certification of independent bidding.

    If convicted, Marquez faces maximum penalties of 20 years in prison for each conspiracy and wire fraud count and 10 years in prison for the major fraud charge. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    United States v. Breal L. Madison Jr.

    Breal L. Madison Jr., a Maryland resident, was charged in a 13-count indictment with conspiracy, bribery of a public official, mail fraud and money laundering for orchestrating a years-long scheme to defraud his employer and the United States out of over $7 million in connection with the sale of IT products to various government agencies.

    Brandon Scott Glisson, an IT contractor providing IT services to the U.S. government, and Glisson’s supervisor, Lawrence A. Eady, a former senior government employee, have also been charged for their respective roles in the scheme.

    According to court documents, through multiple misrepresentations, Madison and his co-conspirators conspired to steal money from Madison’s employer and government agencies, illegally siphoning over $9 million in stolen proceeds to Madison’s shell company, Trident Technology Solutions, and another shell company. They used the money to purchase luxury items and to pay approximately $630,000 in bribes to Eady in exchange for Eady’s ensuring the purchase of additional products sold by Madison. 

    Madison used his ill-gotten gains to buy a Vanquish VQ58 yacht, 2020 Lamborghini Huracan and multiple other vehicles, all of which the United States seeks to forfeit in the indictment. 

    If convicted, Madison faces maximum penalties of five years in prison for the conspiracy count, 15 years in prison for each bribery count, 20 years in prison for each mail fraud count and 10 years for each money laundering count. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The DCIS, the FBI Baltimore Field Office, CIA Office of Inspector General and NSA Office of Inspector General investigated the case.

    Acting Assistant Chief Michael Sawers and Trial Attorneys Zachary Trotter and Elizabeth French of the Antitrust Division’s Washington Criminal Section and Assistant U.S. Attorneys Aaron S.J. Zelinsky, Sean M. Delaney and Darren Gardner for the District of Maryland are prosecuting the case. 

    Anyone with information about this investigation or other procurement fraud schemes should notify the PCSF at www.justice.gov/atr/webform/pcsf-citizen-complaint. The Justice Department created the PCSF in November 2019. It is a joint law enforcement effort to combat antitrust crimes and related fraudulent schemes that impact government procurement, grant and program funding at all levels of government — federal, state and local. For more information, visit www.justice.gov/procurement-collusion-strike-force.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. 

    View the Rawls information.

    View the Eady information.

    View Reefe information.

    View the Glisson information.

    View the Madison indictment.

    View the Marquez indictment.

    MIL OSI USA News

  • MIL-OSI Australia: Partnerships for Local Action and Community Empowerment (PLACE) announcement

    Source: Ministers for Social Services

    Good morning, it’s great to be with you all today.

    I’d like to begin by acknowledging the Traditional Owners of the lands on which we meet and pay my respects to elders past and present. I extend this acknowledgement and respect to all First Nations people joining us today.

    I would also like to acknowledge my colleague the Treasurer – the Honourable Jim Chalmers, who has been my partner in Government on this PLACE journey.

    To our philanthropic partners, thank you for your support and co-investment to make PLACE a reality.

    A big thank you of course to Our Place, Carlton Primary School, Gowrie Victoria and the City of Melbourne who are hosting us today.

    We’re here today because our Government has made a commitment to deliver an overhaul to the way Australia tackles disadvantage.

    Implementing this commitment requires us to work together differently with our partners and local communities, by shifting from traditional and siloed top-down support programs to an approach where we partner and collaborate, share decision-making and goals, and continue to learn from each other to drive better targeted and coordinated investment and effort. By innovating how we work with local communities and how we learn from each other, we will be able to drive a greater positive impact and deliver better outcomes with communities across Australia.

    Partnerships for Local Action and Community Empowerment, or PLACE for short, demonstrates how we will work differently. PLACE will support local communities, government, philanthropy and other stakeholders to work together around a shared understanding of complex problems and a shared commitment to action.

    The Government, together with our philanthropic partners, is proud to be jointly investing $38.6 million over five years to establish PLACE and to launch it into the world today.

    PLACE will be a not-for-profit, independent national organisation that will support communities to identify tailored, place-based solutions to address their needs and aspirations in areas they identify such as the early years, health, education, employment, youth justice and net zero.

    The need for PLACE emerged from community, who called for a national hub that could support a different way of working with community, and that recognised community was best placed to understand their needs and how best to create positive change.

    PLACE will provide this support by connecting community with best practice, building workforce capacity and capability, sharing research, data, tools and information, and supporting collaborative solutions with communities to accelerate progress on the things that matter most to them.

    A key feature of PLACE that distinguishes it from other community initiatives is its structure. It was imperative for us that the essence of working differently with community was embedded in the structure of PLACE. This is reflected in the shared governance arrangements that we have with our philanthropic partners and the community to put community at the centre of the PLACE, and ensure community views are always heard.

    We also want the Government’s involvement in PLACE to be different – that is not just connected to PLACE through the traditional grant agreement, where we are at arm’s length, but also as an active participant in its governance and in the work with communities to meet their needs and their identified priorities.

    I am delighted to be announcing PLACE here at the Carlton Learning Precinct, which is an integrated child and family centre and primary school. The Precinct is part of a diverse multicultural community, and where more than 85 per cent of students at Carlton primary speak a first language other than English.

    The Precinct is the result of work over many years between Carlton Primary School and local community members to meet the needs and aspirations identified by the community and their families and children. Since 2019, these early efforts have been amplified with the support of Our Place, Gowrie Victoria and the City of Melbourne.

    The Precinct includes maternal child health nurses, a Services Australia visiting service and adult employment and education services. Local leaders continue to work together with and listens to the community to ensure these services are co-ordinated to meet community needs and to stop families falling through the cracks. This integrated approach has already led to a 20 per cent increase in school enrolments since 2022.

    The Precinct also offers an insight into the practical benefits PLACE will have for communities like Carlton, including include offering:

    • tools, frameworks, and guidance to help define and measure the impact of the Precinct, and
    • specialised courses to equip Precinct staff and members manage complex, multi-stakeholder collaborations more effectively.

    It is our vision, together with our philanthropic partners, that PLACE will support the efforts of communities like in the Carlton Learning Precinct, and ultimately the projects PLACE works on will be underpinned by working together differently with and listening to community..

    The establishment of PLACE reflects a commitment to working differently, listening to what works locally and working in close collaboration with communities, philanthropy, and across governments to support accelerate positive change in local communities.

    PLACE is a key priority highlighted by the Investment Dialogue for Australia’s Children, and I am proud that we have been able to bring it to fruition together with our philanthropic partners.

    I want to thank the Department of Social Services for the strong and productive working relationship it has established with philanthropy and their significant work in getting us to this point.

    I’m excited to see what comes out of PLACE to help those communities and Australians experiencing disadvantage that need it most to thrive.

    Thank you.

    MIL OSI News

  • MIL-OSI: Oportun Announces Next Step to Optimize Capital Structure and Drive Improved Profitability

    Source: GlobeNewswire (MIL-OSI)

    SAN CARLOS, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT) (“Oportun”, or the “Company”), a mission-driven financial services company, announced today another important step in its plans to optimize the Company’s capital structure and drive improved profitability. Following an extensive review of a range of alternatives led by the Board of Directors, Oportun has entered into a Credit Agreement to refinance its existing corporate financing facility with a new $235 million Senior Secured Term Loan (“Term Loan”). The refinancing will improve Oportun’s operational and balance sheet flexibility with covenants that reflect the performance improvements made by the Company to date, including the agreement to sell the Company’s credit card portfolio, and reward accretive actions and cash flow generation. The Term Loan will be provided by two firms (the “Lenders”), funds managed by Castlelake L.P., a global alternative investment manager specializing in asset-based private credit that led the refinancing, and funds managed by Neuberger Berman, a private employee-owned investment manager. The Term Loan will carry a 15% fixed rate and mature in November 2028.

    “After a thorough and competitive process, where multiple strategic options were considered, the Board of Directors determined that this transaction, which was the least dilutive financing option available, would best position Oportun for the future by further strengthening the Company’s balance sheet and liquidity as well as enhancing the ability for Oportun to generate consistent cash flow and deliver increased stockholder value,” said Neil Williams, Lead Independent Director of Oportun’s Board of Directors.

    “With this refinancing and the operational and balance sheet flexibility the Term Loan will provide, we’re even better positioned to build on our progress. We expect to build on that momentum in 2025 through improving credit performance, identifying high-quality originations, and further enhancing our GAAP and adjusted profitability on a per-share basis” said Raul Vazquez, CEO of Oportun.

    “As we continue our longstanding relationship with Oportun, this refinancing illustrates the confidence we have in the Company’s ability to execute its long-term strategy, underpinned by focusing on its core products while identifying high-quality loan originations” said John Lundquist, Partner at Castlelake.

    “We’re pleased to remain a capital partner to Oportun alongside Castlelake, and the revised structure provides the Company with the funding and flexibility to responsibly grow the business and service the needs of its customers,” said Peter Sterling, Head of Specialty Finance at Neuberger Berman. “This transaction reflects the confidence we have in the quality of Oportun’s underwriting and the sustainability of its business model.”

    In connection with providing the Term Loan, the Lenders will receive warrants, at an exercise price of $0.01 per share, equal to 9.8% of the fully-diluted shares outstanding of the Company, excluding out-of-the-money options, on a pro-forma basis for the warrants, which as of September 30, 2024 was equal to 4,860,706 warrants, and the Lenders are entitled to Board observer rights. Even given the dilutionary impact from the newly issued warrants, the Company believes it will be able to drive increased profitability on a per share basis through focus on its core products, improving credit performance and maintaining cost discipline.

    The new Term Loan provides a lower interest rate than the existing senior secured term loan being refinanced and Oportun is committed to paying off at least $40 million of the principal by February 1, 2026, with the flexibility to make additional pre-payments of $10 million at any time without penalty, and an additional $10 million without penalty after the one-year anniversary of closing. Management expects the Term Loan to close during the week of November 11, 2024, following and subject to customary closing conditions, as well as the closing of the credit card portfolio sale transaction, which was previously announced on September 25, 2024.

    Preliminary Financial Results – Third Quarter 2024
    Based upon management’s current expectations, the Company will report Total Revenue, Annualized Net Charge-Off Rate, Net Loss, Adjusted EBITDA and Adjusted Net Income (Loss), for the third quarter as follows:

    Metric Preliminary Guidance
       3Q24  3Q24
     Total Revenue  $249-251 million  $248 – $252 million
     Annualized Net Charge-Off Rate  11.9%  12.3%  +/- 15 bps
     Net Loss  $(30) – $(32) million  N/A
     Adjusted EBITDA 1  $28 – 31 million  $23 – $26 million
     Adjusted Net Income (Loss) 1  $(2) – $1 million  N/A
     See About Non-GAAP Financial Measures for more detail.  
         

    The Company expects to deliver resilient third quarter top-line performance with Total Revenue in line with its guidance range. The Company’s tightened credit posture contributed to delivering annualized net charge-offs 25 bps better than the edge of its guidance range. On a GAAP basis, the Company expects a net loss of $30 to 32 million driven by non-cash fair value marks, including a $35 million mark-to-market adjustment on its ABS notes due to their weighted average price increasing from 96.0% to 97.8% as benchmark interest rates declined and credit spreads tightened significantly. Given strong Total Revenue, improved credit performance and continued expense discipline, the Company also expects to be near break-even to profitable on an Adjusted Net Income basis. The Company expects Adjusted EBITDA to be $28 to $31 million, which will be $2 to $5 million above the top end of its guidance range.

    Furthermore, management is providing the following preliminary set of expectations regarding Oportun’s full year 2025 operating performance:

    • GAAP EPS between $0.25 and $0.50
    • Adjusted EPS between $1.00 and $1.25
    • Annualized net charge-off rate between 11% and 12%

    “We are pleased with our expected quarterly results and are looking forward to an even better 2025,” said Jonathan Coblentz, CFO of Oportun. “As these results and our future expectations demonstrate, we continue to make significant progress towards driving sustainable, profitable earnings growth, and shareholder value.”

    Concurrent with this press release, Oportun has posted a business update presentation on its investor relations website, investor.oportun.com. The presentation further describes the Term Loan, the Company’s operating strategy, recent performance improvements, and preliminary performance expectations going into 2025.

    Evercore acted as financial advisor and Orrick, Herrington & Sutcliffe LLP and Wilson Sonsini Goodrich & Rosati served as legal advisors to the Company on the transaction.

    About Oportun
    Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $18.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

    About Castlelake
    Castlelake, L.P. is a global alternative investment manager focused on asset-based investments. Founded in 2005, Castlelake manages approximately $24 billion of assets on behalf of a diversified global investor base. The Castlelake team comprises more than 220 experienced professionals, including 80 investment professionals, across seven offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.

    About Neuberger Berman
    Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies – including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds – on behalf of institutions, advisors and individual investors globally. Neuberger Berman’s investment philosophy is founded on active management, engaged ownership and fundamental research, including industry-leading research into material environmental, social and governance factors. Neuberger Berman is a PRI Leader, a designation awarded to fewer than 1% of investment firms. With offices in 26 countries, the firm’s diverse team has over 2,750 professionals. For nine consecutive years, Neuberger Berman has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). The firm manages $443 billion in client assets as of June 30, 2023. For more information, please visit Neuberger Berman’s website at www.nb.com.

    Forward-Looking Statements
    This press release contains forward-looking statements. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to future performance and financial position; the Company’s preliminary financial results for the third quarter of 2024; the Company’s full year 2025 outlook; expectations regarding the impact of the Term Loan, including expected timelines; the anticipated closing of the Company’s credit card portfolio sale transaction; our planned products and services; achievement of the Company’s strategic priorities and goals and the plans and objectives of management for our future operations, are forward-looking statements are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause Oportun’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Oportun has based these forward-looking statements on its current expectations and projections about future events, financial trends and risks and uncertainties that it believes may affect its business, financial condition and results of operations. These risks and uncertainties include those risks described in Oportun’s filings with the Securities and Exchange Commission, including Oportun’s most recent annual report on Form 10-K and most recent quarterly report on Form 10-Q. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, Oportun disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

    Preliminary Information
    Numbers are as of September 30, 2024, and are unaudited, preliminary and subject to change upon completion of the Company’s closing process and quarterly review procedures. As a result, the Company’s final results may vary materially from the preliminary results included in this press release. Oportun undertakes no obligation to update or supplement the information provided in this press release until the Company releases its financial statements for the three months ended September 30, 2024. The preliminary financial information included in this press release reflects the Company’s current estimates based on information available as of the date of this press release. This preliminary financial and operational information should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future periods. This preliminary financial information could be impacted by the effects of financial closing procedures, final adjustments, and other developments.

    About Non-GAAP Financial Measures
    This press release presents information about the Company’s Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted EPS, which are non-GAAP financial measures provided as a supplement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company believes non-GAAP measures can be useful measures for period-to-period comparisons of its core business and provide useful information to investors and others in understanding and evaluating its operating results. Non-GAAP financial measures are provided in addition to, and not as a substitute for, and are not superior to, financial measures calculated in accordance with GAAP. In addition, the non-GAAP measures the Company uses, as presented, may not be comparable to similar measures used by other companies. Reconciliations of non-GAAP to GAAP measures can be found below.

    As previously announced on March 12, 2024, beginning with the quarter ended March 31, 2024, the Company has updated its calculation of Adjusted EBITDA and Adjusted Net Income for all periods. To align with these updated calculations, we also updated Adjusted EPS. Comparable prior period non-GAAP financial measures are included in addition to the previously reported metrics.

    Adjusted EBITDA
    The Company defines Adjusted EBITDA as net income, adjusted to eliminate the effect of certain items as described below. The Company believes that Adjusted EBITDA is an important measure because it allows management, investors and its board of directors to evaluate and compare operating results, including return on capital and operating efficiencies, from period to period by making the adjustments described below. In addition, it provides a useful measure for period-to-period comparisons of Oportun’s business, as it removes the effect of income taxes, certain non-cash items, variable charges and timing differences.

    The Company believes it is useful to exclude the impact of income tax expense, as reported, because historically it has included irregular income tax items that do not reflect ongoing business operations.
    The Company believes it is useful to exclude depreciation and amortization and stock-based compensation expense because they are non-cash charges.

    The Company believes it is useful to exclude the impact of interest expense associated with the Company’s corporate financing facilities, including the senior secured term loan and the residual financing facility, as it views this expense as related to its capital structure rather than its funding.

    The Company excludes the impact of certain non-recurring charges, such as expenses associated with our workforce optimization, and other non-recurring charges because it does not believe that these items reflect ongoing business operations. Other non-recurring charges include litigation reserve, impairment charges, debt amendment and warrant amortization costs related to our corporate financing facilities.

    The Company also excludes fair value mark-to-market adjustments on its loans receivable portfolio and asset-backed notes carried at fair value because these adjustments do not impact cash.

    Adjusted Net Income
    The Company defines Adjusted Net Income as net income adjusted to eliminate the effect of certain items as described below. The Company believes that Adjusted Net Income is an important measure of operating performance because it allows management, investors, and the Company’s board of directors to evaluate and compare its operating results, including return on capital and operating efficiencies, from period to period, excluding the after-tax impact of non-cash, stock-based compensation expense and certain non-recurring charges.

    The Company believes it is useful to exclude the impact of income tax expense (benefit), as reported, because historically it has included irregular income tax items that do not reflect ongoing business operations. The Company also includes the impact of normalized income tax expense by applying a normalized statutory tax rate.

    The Company believes it is useful to exclude the impact of certain non-recurring charges, such as expenses associated with our workforce optimization, and other non-recurring charges because it does not believe that these items reflect its ongoing business operations. Other non-recurring charges include litigation reserve, impairment charges, debt amendment and warrant amortization costs related to our corporate financing facilities.

    The Company believes it is useful to exclude stock-based compensation expense because it is a non-cash charge.

    The Company also excludes the fair value mark-to-market adjustment on its asset-backed notes carried at fair value to align with the 2023 accounting policy decision to account for new debt financings at amortized cost.

    Adjusted EPS
    The Company defines Adjusted EPS as Adjusted Net Income divided by weighted average diluted shares outstanding.

    Reconciliation of Non-GAAP Financial Measures

    Adjusted EBITDA    
      Three Months Ended September 30,
      2024   2023  
    (dollars in millions)    
      Net Income (loss) $(32) – (30) $(21.1 )
      Adjustments:    
    Income tax expense (benefit)  (10.2) – (9.5)   (16.2 )
    Corporate debt interest 12.6   15.0  
    Depreciation and amortization 13.5   13.9  
    Workforce optimization expenses   0.5  
    Stock-based compensation expense 3.2   4.3  
    Other non-recurring charges 2.9   0.3  
    Fair value mark-to-market adjustment 38.0-38.3   16.5  
    Adjusted EBITDA $28.0-31.0 $13.2  
    Adjusted Net Income (Loss)    
      Three Months Ended September 30,
      2024     2023  
    (dollars in millions)    
      Net Income (loss) $(32) – (30) $(21.1 )
      Adjustments:    
        Income Tax Expense (benefit)  (10.2) – (9.5)     (16.2 )
        Stock-based compensation expense 3.2     4.3  
    Workforce optimization expense     0.5  
    Impairment     1.3  
    Other non-recurring charges 2.9     0.3  
    Fair value mark-to-market adjustment 33.3 – 34.7     14.9  
    Adjusted income before taxes $ (2.8) – 1.3     (16.1 )
    Normalized income tax expense (0.8) – 0.3     (4.3 )
    Adjusted income $ (2.0) – 1.0 $(11.8 )
    Forward-looking Adjusted Net Income and Adjusted EPS    
      FY 2025
      Low High
    (dollars in millions)    
      Net Income $12.6 $25.1
      Adjustments:    
        Income tax expense (benefit)   4.7   9.3
        Stock-based compensation expense   14.4   14.4
    Other non-recurring charges   6.4   6.4
    Fair value mark-to-market adjustment   30.8   30.8
    Adjusted income before taxes $68.9 $86.0
    Normalized income tax expense   18.7   23.2
    Adjusted Net Income $50.2 $62.8
    Diluted Weighted Average Shares Outstanding (millions)   50.2   50.2
    Diluted EPS $0.25 $0.50
    Adjusted EPS $1.00 $1.25
         

    Investor Contact

    Dorian Hare
    (650) 590-4323
    ir@oportun.com

    Media Contact for Oportun
    Michael Azzano
    Cosmo PR for Oportun
    (415) 596-1978
    michael@cosmo-pr.com

    Media Contact for Castlelake
    Remy Marin / Alex Hinson
    Prosek Partners for Castlelake
    (212) 279 3115
    Rmarin@prosek.com / ahinson@prosek.com

    The MIL Network

  • MIL-OSI USA: McCaul Urges DHS Secretary Mayorkas to Extend Title 42 Order

    Source: United States House of Representatives – Congressman Michael McCaul (10th District of Texas)

    Apache

    Due to the settings for ServerTokens in httpd.conf, it is impossible to accurately determine the version of Apache running on this server. The reported value is Apache, to run Drupal without mod_rewrite, a minimum version of 2.2.16 is needed.

    MIL OSI USA News

  • MIL-OSI USA: McCaul Celebrates Passage of Childhood Cancer STAR Reauthorization Act

    Source: United States House of Representatives – Congressman Michael McCaul (10th District of Texas)

    Apache

    Due to the settings for ServerTokens in httpd.conf, it is impossible to accurately determine the version of Apache running on this server. The reported value is Apache, to run Drupal without mod_rewrite, a minimum version of 2.2.16 is needed.

    MIL OSI USA News

  • MIL-OSI USA: Governor Polis Highlights Colorado’s Leading Work to Save Coloradans Money on Energy Bills, Support Out of School Time that Helps Colorado Students Thrive, and Promote Civic Engagement at Front Range Community College

    Source: US State of Colorado

    ARVADA – Today, Governor Polis highlighted Colorado’s leadership in clean energy, investments in education, and promotion of healthy civic engagement for all Coloradans.

    The Governor took part in the Colorado Afterschool Partnership Fall Conference, to discuss Colorado’s work to support  out-of-school educators for their work to help Colorado students succeed . In 2023, Governor Polis signed a bipartisan law to make a major state investment in afterschool education opportunities to get every student on track to math proficiency. These investments provide support for math instruction and improvement for students in pre-kindergarten through twelfth grade.

    “Investing in our students’ success is an investment in our state’s future. I am grateful to all the educators across the state who work tirelessly to provide the support and instruction for Colorado students to succeed well beyond the classroom. No student should feel left behind, and afterschool programs are critical to ensure students thrive,” said Governor Polis.

    The Governor then participated virtually in the Interstate Oil and Gas Compact Commission Conference focused on solutions for low-cost energy. Colorado’s energy sector is a model for the nation, creating jobs and strengthening the economy.

    “As Chair of the National Governors Association I work with Governors from across the country and aisle on the issues that matter most to the people we serve, and today I was glad to join my fellow Governors Stitt and Governor Dunleavy to discuss our work on energy, as well as Colorado’s national leadership on technologies that lower energy costs, protect our air quality, and ensure clean drinking water for all Coloradans,” said Governor Polis.

    Governor Polis also spoke at the Energy M&A and Financing Forum to promote Colorado’s nation leading work in innovative clean energy solutions, ranking 4th in cleantech employment, 2nd in the nation for electric vehicle sales, and 8th nationally for wind, solar, and storage.

    “In Colorado, we are taking a market-driven, sector-by-sector approach to improve air quality and reduce carbon emissions. By doing so, we are delivering real results while creating good-paying jobs and reducing costs for Colorado consumers,” said Governor Polis.

    Later today, the Governor will tour Northglenn City Hall, the first net-zero emissions municipal building in Colorado. New clean-energy buildings like this one are helping the state reach the goal of reducing greenhouse gas emissions 50% by 2030. The State is proud to support the installation of nine public charging ports through the Charge Ahead Colorado grant program and eight charging ports for fleet vehicles through the Fleet-ZERO grant program at the Northglenn City Hall.

    “Colorado is leading the way in bringing more jobs, cleaner energy, and saving Coloradans money on energy bills. The Northglenn City Hall, the first net-zero municipal building in Colorado, is a reflection of how far Colorado has come in creating clean energy infrastructure that will help power a bright future for our state,” said Governor Polis.

    The Governor will take part in a discussion at Front Range Community College about the importance of civic engagement in Colorado at the News & Democracy Discussion Panel. The event invites leaders from across Colorado to partake in a panel discussion on the importance of free and fair elections.

    “Each of us has a role to play in building and sustaining a strong, healthy democracy. That’s what civic engagement is all about and thank you to Front Page for being an important part of the media ecosystem here in Colorado, and continuing to promote a Colorado for all,” said Governor Polis.

    ###
     

    MIL OSI USA News

  • MIL-OSI Security: Lower Post — Watson Lake RCMP and BC Coroners Service investigating a death

    Source: Royal Canadian Mounted Police

    The Watson Lake RCMP is investigating the death of a man in Lower Post, British Columbia.

    On October 28, 2024, at approximately 10:30 am Watson lake RCMP were notified that a body had been located on the bank of the Liard River in Lower Post. Initial investigation suggests the man may have been there for some time.

    RCMP are working with the BC Coroners Service to determine the identity of the deceased.

    Police ask that if anyone has information in the community, to please contact Watson Lake RCMP Detachment at 867-536-5555.

    Any media questions regarding the investigation can be directed to the BC Coroners Service.

    MIL Security OSI

  • MIL-OSI: Aimfinity Investment Corp. I Announces Extension of the Deadline for an Initial Business Combination to October 28, 2024

    Source: GlobeNewswire (MIL-OSI)

    Wilmington, Delaware, Oct. 29, 2024 (GLOBE NEWSWIRE) —  Aimfinity Investment Corp. I (the “Company” or “AIMA”) (Nasdaq: AIMAU), a special purpose acquisition company incorporated as a Cayman Islands exempted company, today announced that, in order to extend the date by which the Company mush complete its initial business combination from October 28, 2024 to November 28, 2024, on October 28, 2024, I-Fa Chang, manager of the sponsor of the Company, has deposited into its trust account (the “Trust Account”) an aggregate of $60,000 (the “Monthly Extension Payment”).

    Pursuant to the Company’s third amended & restated memorandum and articles of association (“Current Charter”), effectively April 23, 2024, the Company may extend on a monthly basis from April 28, 2024 until January 28, 2025 or such an earlier date as may be determined by its board to complete a business combination by depositing the Monthly Extension Payment for each month into the Trust Account. This is the seventh of nine monthly extensions sought under the Current Charter of the Company.  

    About Aimfinity Investment Corp. I

    Aimfinity Investment Corp. I is a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company has not selected any business combination target and has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with it. While the Company will not be limited to a particular industry or geographic region in its identification and acquisition of a target company, it will not complete its initial business combination with a target that is headquartered in China (including Hong Kong and Macau) or conducts a majority of its business in China (including Hong Kong and Macau). 

    Additional Information and Where to Find It

    As previously disclosed, on October 13, 2023, the Company entered into that certain Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and between the Company, Docter Inc., a Delaware corporation (the “Company”), Aimfinity Investment Merger Sub I, a Cayman Islands exempted company and wholly-owned subsidiary of Parent (“Purchaser”), and Aimfinity Investment Merger Sub II, Inc., a Delaware corporation and wholly-owned subsidiary of Purchaser (“Merger Sub”), pursuant to which the Company is proposing to enter into a business combination with Docter involving an reincorporation merger and an acquisition merger. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. AIMA’s stockholders and other interested persons are advised to read, when available, the proxy statement/prospectus and the amendments thereto and other documents filed in connection with the proposed business combination, as these materials will contain important information about AIMA, Purchaser or Docter, and the proposed business combination. When available, the proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of AIMA as of a record date to be established for voting on the proposed business combination. Such stockholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the Securities and Exchange Commission (the “SEC”), without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to AIMA’s principal office at 221 W 9th St, PMB 235 Wilmington, Delaware 19801.

    Forward-Looking Statements

    This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the pending transactions described herein, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

    Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the pending business combination, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of AIMA and Docter to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of AIMA or Docter; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of AIMA’s securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Docter to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii): risks relating to the medical device industry, including but not limited to governmental regulatory and enforcement changes, market competitions, competitive product and pricing activity; and (ix) risks relating to the combined company’s ability to enhance its products and services, execute its business strategy, expand its customer base and maintain stable relationship with its business partners.

    A further list and description of risks and uncertainties can be found in the prospectus filed on April 26, 2022 relating to AIMA’s initial public offering, the annual report of AIMA on Form 10-K for the fiscal year ended on December 31, 2022, filed on April 17, 2023, and in the Registration Statement/proxy statement that will be filed with the SEC by AIMA and/or its affiliates in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Aimfinity, Docter, and their subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of any potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of AIMA, Purchaser or Docter, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

    Participants in the Solicitation

    AIMA, Docter, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of AIMA’s shareholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of AIMA’s shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus on Form F-4 to be filed with the SEC.

    Contact Information:

    Aimfinity Investment Corp. I
    I-Fa Chang
    Chief Executive Officer
    ceo@aimfinityspac.com
    (425) 365-2933
    221 W 9th St, PMB 235
    Wilmington, Delaware 19801

    The MIL Network

  • MIL-OSI: Hampton Financial Corporation Announces The Completion of A Non-Brokered Private Placement of Unsecured Convertible Debentures

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    TORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Company”, TSXV:HFC) is pleased to announce the closing of a non-brokered private placement of unsecured convertible debentures (the “Debentures”) in the principal amount of $300,000.

    The $300,000 principal amount of Debentures will mature five (5) years and one day after the issue date (the “Maturity Date”) and will bear interest at the rate of 10.0% per annum, payable quarterly in arrears on the last day of March, June, September and December in each year until the Maturity Date. The first interest payment will be made at the end of the first calendar quarter following the closing date (the “Initial Interest Payment Date”) and will consist of interest accrued from and including the closing date to the Initial Interest Payment Date. Interest will be payable in cash only and will cease to accrue on the Maturity Date.

    The whole, or any part, of the principal amount of the Debentures is convertible into common shares of the Company’s wholly owned subsidiary, Oxygen Working Capital Corp. (“OWC”), held by the Company at the option of the holder thereof, at any time prior to 5:00 p.m. (Toronto time) on the Maturity Date, at a conversion price of CAD$0.50 per share. Upon conversion of the Debentures the holders of Debentures will receive cash payment of any interest which accrues from the most recent interest payment date to the date of conversion.

    The proceeds from the Offering may be advanced by the Company to OWC in order to further grow OWC’s loan book and for OWC’s working capital and general corporate purposes.

    About Oxygen Working Capital Corp.

    OWC, founded in 2017, is a specialized Canadian based lender focused on the commercial factoring business with clients across Canada, and with prospects for expanded reach and continued growth across broader North America. OWC provides entrepreneurs with short term financing solutions via immediate upfront capital by factoring their invoices and receivables, allowing businesses to meet their immediate working capital needs. Acquired in 2024, OWC is a wholly owned subsidiary of Hampton.

    About Hampton Financial Corporation

    Hampton is a unique private equity firm that seeks to build shareholder value through long-term strategic investments. In addition to OWC, through its Investment Dealer subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by CIRO (Formally IIROC) and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario, and Quebec. In addition, the Company provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad. The Company is also exploring opportunities to diversify its sources of revenue by way of strategic investments and acquisitions in both complimentary business and non-core sectors that can leverage the expertise of its Board and the diverse experience of its management team.

    For more information, please contact:

    Olga Juravlev
    Chief Financial Officer
    Hampton Financial Corporation
    (416) 862-8701

    Or

    Peter M. Deeb
    Executive Chairman & CEO
    Hampton Financial Corporation
    (416) 862-8651

    The TSXV has in no way approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

    No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.

    Forward-Looking Statements

    This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “should”, “hopeful”, “recovery”, “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project” or similar words, including negatives thereof, suggesting future outcomes.

    Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond the Company’s ability to predict or control which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

    The MIL Network

  • MIL-OSI Economics: ACP Statement on DOD and BOEM Memorandum of Understanding on Offshore Wind Development

    Source: American Clean Power Association (ACP)

    Headline: ACP Statement on DOD and BOEM Memorandum of Understanding on Offshore Wind Development

    ATLANTIC CITY, NJ, October 29, 2024 – The American Clean Power Association (ACP) released the following statement from Anne Reynolds, ACP Vice President Offshore Wind after the Bureau of Ocean Energy Management (BOEM) and the Department of Defense (DOD) signed a Memorandum of Understanding (MOU) to support the coordinated development of offshore wind energy generation on the U.S. Outer Continental Shelf (OCS). The MOU was signed today at ACP’s Offshore WINDPOWER conference in Atlantic City:
    “Today’s MOU between BOEM and DOD fosters interagency collaboration that the offshore wind industry needs for efficient and smart permitting. This agreement ensures that renewable energy projects can be developed in harmony with military operations and U.S national security.”
    “The clear framework for communication and interagency collaboration enhances project planning and development. This strategic partnership will help pave the way for a sustainable future while creating good-paying jobs and strengthening U.S. energy independence. Together, BOEM and DOD are demonstrating a good government approach to growing U.S. energy independence.”

    MIL OSI Economics

  • MIL-OSI Economics: Samsung Sets New Benchmark in TV Security With FIPS 140-3 Certification

    Source: Samsung

     
    Samsung Electronics today announced that its proprietary cryptography module, Samsung CryptoCore,1 has earned the prestigious FIPS 140-3 certification2 from the National Institute of Standards and Technology (NIST). This certification underscores Samsung’s commitment to providing industry-leading security and data protection for Smart TV users.
     
    “As home entertainment systems become more connected, it becomes critical for technology companies to safeguard the personal data that enables the seamless connectivity enjoyed by so many,” said Yongjae Kim, Executive Vice President and Head of the R&D Team, Visual Display Business at Samsung Electronics. “By integrating the FIPS 140-3-certified CryptoCore into our Smart TVs, Samsung is taking our commitment to secure home entertainment a step further and ensuring that our users can freely experience the value of our products.”
     
    Beginning in 2025, Samsung CryptoCore will be fully integrated into Tizen OS,3 Samsung’s Smart TV operating system, enhancing the security of key products such as TVs, monitors and digital signage. With Samsung CryptoCore embedded in Tizen OS, personal data linked to Samsung accounts will be securely encrypted, SmartThings authentication information will be protected from external hacking threats and content viewed on TVs will benefit from enhanced copyright protection.
     
    Since 2015, Samsung has equipped its Smart TVs with Samsung Knox,4 a security platform that has earned Common Criteria (CC) certification5 for 10 consecutive years. But with its newly acquired FIPS 140-3 certification, Samsung has strengthened its defenses against hacking and data breaches even further, proactively protecting personal information with advanced encryption technology.
     
    Recognized by governments in 10 countries,6 the FIPS 140-3 certification requires comprehensive testing of cryptographic modules to ensure their security, integrity and reliability. For users, this means Samsung Smart TVs offer cutting-edge protection against privacy breaches, allowing them to enjoy their content, connect smart devices and engage with IoT services securely and without concerns.
     

     
    1 Samsung CryptoCore is a software library that encrypts and decrypts data during both transmission and storage.2 Federal Information Processing Standard (FIPS) 140-3 covers the security requirements for cryptographic modules.3 Tizen OS 9.0.4 Samsung Knox provides privacy protection on its Smart TVs through features like Tizen OS Monitoring, Phishing Site Blocking and Knox Vault. Knox Vault is available only on the QN900D and QN800D models.5 Common Criteria (CC) certification is a global security standard recognized by 31 countries for IT product integrity.6 Recognized in the United States, Canada, UK, Germany, France, South Korea, Japan, Singapore, Australia and New Zealand.

    MIL OSI Economics

  • MIL-Evening Report: Commonwealth takes bold step to protect freedom of expression

    Talamua Media

    The Commonwealth Heads of Government adopted the Commonwealth Principles on Freedom of Expression and the Role of the Media in Good Governance at their summit meeting in Apia, Samoa, last week.

    These Principles highlight the importance of freedom of expression and media freedom to democracy.  They state that Commonwealth governments “should consider repealing or amending laws which unduly restrict the right to freedom of expression”.

    The Commonwealth Human Rights Initiative and the Commonwealth Journalists Association called on states to take practical and effective steps to end arbitrary and excessive restrictions on free expression. The Commonwealth as a whole must audit progress and engage with civil society to ensure that these Principles are implemented in reality.

    Freedom of expression is not just a right in itself — it is the foundation that allows us to exercise and defend all other human rights, and is safeguarded under international law.

    However, as we know all too well, this right is under threat.

    According to UNESCO, in Commonwealth countries alone, 178 journalists were killed between 2006 and 2020. Furthermore, the impunity rate for the killings of journalists during that same time is 96 percent — which is notably higher than the global impunity rate of 87 percent.

    Reporters Without Borders (RSF) has documented 547 journalists imprisoned globally as of the end of 2023, with legal harassment often used as a tool to stifle dissent and investigative reporting.

    Restrictive, colonial-era laws
    Many Commonwealth countries still maintain restrictive, colonial-era laws that curtail free expression, suppress diverse voices, and inhibit the transparency that is essential for democracy.

    In the Commonwealth:

    • 41 countries continue to criminalise defamation; 48 countries still retain laws related to sedition; and
    • 37 still have blasphemy or blasphemy-like laws.
    Who Controls The Narrative? cover. Image: APR screenshot

    These details are set out in a soon to be released report by the Commonwealth Human Rights Initiative (CHRI) and the Commonwealth Journalists Association (CJA), with other Commonwealth partners, entitled Who Controls the Narrative? Legal Restrictions on Freedom of Expression in the Commonwealth.

    “These laws, often enforced through criminal sanctions, have a chilling effect on activists, journalists, iand others who fear retaliation for speaking truth to power”, said William Horsley of the Commonwealth Journalists Association.

    “This has led to an alarming rise in self-censorship and a decline in the independent and dissenting voices that are vital for holding governments accountable.”

    Civil society response
    The Principles were first put forward by a group of civil society organisations in response to  a general deterioration in legal protections and the working environment for journalists.

    The CJA convened other civil society organisations, including the CHRI, Commonwealth Lawyers Association and the Institute of Commonwealth Studies, before Commonwealth member states reviewed and adopted the Principles in the form which was adopted by heads of government at the 2024 CHOGM.

    States are “urged to take concrete and meaningful steps to implement them within their domestic frameworks, as set out in the CHOGM Samoa Communiqué“.

    The joint report Who Controls the Narrative? Legal Restrictions on Freedom of Expression in the Commonwealth reveals the increasing use of criminal law provisions, including those related to defamation, sedition, blasphemy, and national security, to restrict freedom of expression and media freedom within the Commonwealth.

    The report is the product of extensive collaboration between Commonwealth partners, legal experts, academics, human rights advocates, and media professionals, and provides a comprehensive analysis of the legal frameworks governing freedom of expression and outlines clear pathways for reform.

    In addition to analysing legal restrictions on free speech in Commonwealth states, the report puts forward actionable recommendations for reform.

    These include regional and national-level proposals, as well as broader Commonwealth-wide recommendations aimed at strengthening legal frameworks, promoting judicial independence, encouraging media pluralism, and enhancing international accountability mechanisms.

    Reforms essential
    These reforms are essential for establishing an environment where free expression can thrive, allowing individuals to speak without fear of reprisal.

    “While many member states share a colonial legal legacy that includes repressive laws still in effect today, they also share a commitment to democratic governance and the rule of law as set out in the Commonwealth Charter,” said Sneh Aurora, director of the Commonwealth Human Rights Initiative.

    “The Commonwealth has the potential to lead by example in promoting freedom of expression through legal reform, ensuring that criminal laws are not misused to silence dissent.

    “The Principles provide an important opportunity for Commonwealth governments to bring their national laws in line with international human rights laws.”

    Republished with permission from Talamua Online.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Xi encourages more China-Finland cooperation in emerging industries

    Source: People’s Republic of China – State Council News

    Chinese President Xi Jinping holds a welcoming ceremony for Finnish President Alexander Stubb, who is on a state visit to China, in the Northern Hall of the Great Hall of the People prior to their talks in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb in Beijing on Tuesday. [Photo/Xinhua]

    BEIJING, Oct. 29 — China welcomes Finland to actively participate in the Chinese modernization process and expand cooperation in emerging industries, Chinese President Xi Jinping said on Tuesday.

    Xi made the remarks as he held talks with visiting Finnish President Alexander Stubb in Beijing.

    He called on both sides to expand cooperation in green transformation, information technology, digital economy, artificial intelligence and new energy, and build a new pattern of mutually beneficial cooperation in the new era.

    Xi noted that Finland was one of the first Western countries to establish diplomatic ties with the People’s Republic of China and the first Western country to sign an intergovernmental trade agreement with China.

    “As the world is undergoing accelerated changes unseen in a century and the risks and challenges facing humanity are increasing, the future-oriented new-type cooperative partnership between China and Finland holds exceptional value and should be cherished and advanced,” Xi said.

    China-Finland practical cooperation got off to an early start, has yielded fruitful results and demonstrated great potential, he said.

    China is willing to further expand people-to-people exchanges with Finland, and has decided to apply the unilateral visa-free policy to Finland, he added, noting that China welcomes more Finnish friends to visit for business, tourism and study.

    Xi said both China and Finland love peace and advocate multilateralism and free trade, adding that China is willing to strengthen communication and cooperation with Finland on climate change, biodiversity conservation, global sustainable development, artificial intelligence governance and other issues.

    Noting that next year marks the 50th anniversary of the establishment of diplomatic ties between China and the European Union (EU), Xi called on Finland to continue to play an active role in promoting the sound and stable development of China-EU ties.

    Stubb said he is very pleased to visit China shortly after taking office and meet with Xi again after 14 years.

    He noted that the global landscape has changed profoundly since their last meeting and China has made remarkable accomplishments.

    Finland abides by the one-China policy and is willing to have a good celebration with China of their 75th anniversary of diplomatic relations next year, Stubb said.

    He added that Finland will work with China to deepen practical cooperation in areas like economy and trade, green energy, and sustainable development.

    Finland appreciates the major initiatives and concepts proposed by China to address global challenges, and will advance multilateral exchanges and coordination with China, Stubb said.

    The economies of the EU and China are closely interconnected, and “decoupling” or a “new Cold War” is not in the interest of any party, Stubb said, noting that Finland is willing to play an active role in promoting the sound development of EU-China relations.

    The two leaders had an in-depth exchange of views on the Ukraine crisis and the conflict between Palestine and Israel. Xi expressed China’s readiness to work with all concerned parties, including Finland, to continue playing a positive role in promoting a peaceful settlement of the crises.

    After the talks, the two heads of state witnessed the signing of multiple documents on bilateral cooperation in such areas as education, water resources, environmental protection, circular economy and agricultural and food products.

    The two sides issued the Joint Action Plan between China and Finland on Promoting the Future-oriented New-type Cooperative Partnership 2025-2029.

    Chinese President Xi Jinping holds a welcoming ceremony for Finnish President Alexander Stubb, who is on a state visit to China, in the Northern Hall of the Great Hall of the People prior to their talks in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb in Beijing on Tuesday. [Photo/Xinhua]
    Chinese President Xi Jinping holds a welcoming ceremony for Finnish President Alexander Stubb, who is on a state visit to China, in the Northern Hall of the Great Hall of the People prior to their talks in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb in Beijing on Tuesday. [Photo/Xinhua]
    Chinese President Xi Jinping holds a welcoming ceremony for Finnish President Alexander Stubb, who is on a state visit to China, in the Northern Hall of the Great Hall of the People prior to their talks in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb in Beijing on Tuesday. [Photo/Xinhua]
    Chinese President Xi Jinping holds a welcoming ceremony for Finnish President Alexander Stubb, who is on a state visit to China, in the Northern Hall of the Great Hall of the People prior to their talks in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb in Beijing on Tuesday. [Photo/Xinhua]
    Chinese President Xi Jinping and his wife Peng Liyuan pose for a group photo with Finnish President Alexander Stubb and his wife Suzanne Innes-Stubb prior to the talks between Xi and Stubb at the Great Hall of the People in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb, who is on a state visit to China, in Beijing on Tuesday. [Photo/Xinhua]
    Chinese President Xi Jinping shakes hands with Finnish President Alexander Stubb, who is on a state visit to China, at the Great Hall of the People in Beijing, capital of China, Oct. 29, 2024. Xi held talks with Stubb in Beijing on Tuesday. After the talks, the two heads of state witnessed the signing of multiple documents on bilateral cooperation. [Photo/Xinhua]
    Chinese President Xi Jinping holds talks with Finnish President Alexander Stubb, who is on a state visit to China, at the Great Hall of the People in Beijing, capital of China, Oct. 29, 2024. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: Chinese premier meets Finnish president

    Source: People’s Republic of China – State Council News

    Chinese Premier Li Qiang meets with Finnish President Alexander Stubb at the Great Hall of the People in Beijing, capital of China, Oct. 29, 2024. [Photo/Xinhua]

    BEIJING, Oct. 29 — Chinese Premier Li Qiang met with Finnish President Alexander Stubb on Tuesday in Beijing.

    Li said that since China and Finland established the future-oriented new-type cooperative partnership, bilateral relations have maintained a sound momentum of development and mutually beneficial cooperation in various fields has been continuously promoted, benefiting the people of both countries.

    China is willing to work with Finland to implement the important consensus reached by the two heads of state, maintain close high-level exchanges, continue to carry forward the traditional friendship, consolidate and enhance political mutual trust, and push bilateral relations and cooperation to a new high, Li said.

    Economic globalization is facing headwinds at present but openness and cooperation remain the general trend, Li noted. China is willing to work with Finland to stick to opening up and cooperation, expand trade, strengthen cooperation in key areas such as circular economy, information and communication, smart energy and agricultural and food products, give full play to economic complementarity, and promote mutual benefit and win-win results at a higher level.

    China will continue to foster a world-class, market-oriented business environment governed by a sound legal framework and welcomes Finnish companies to deepen their presence in the Chinese market, Li said.

    It is hoped that Finland will provide a fair, transparent and non-discriminatory business environment for Chinese enterprises and play a positive role in promoting the healthy development of China-Europe economic and trade relations, he added.

    Li said that China is ready to work with Finland to further facilitate personnel exchanges and expand exchanges and cooperation in the fields of culture, education and sports to consolidate popular support for the friendly cooperation between the two countries.

    Stubb said Finland attaches importance to developing relations with China and is a reliable cooperative partner of China.

    Finland looks forward to strengthening exchanges with China at all levels, deepening mutually beneficial cooperation on economy, trade, agriculture, green energy and sustainable development, and strengthening education and people-to-people exchanges to open a new chapter in bilateral relations, he added.

    Finland appreciates China’s important role in international affairs and is willing to strengthen communication and coordination with China in fields like global security and tackling climate change, Stubb noted.

    Chinese Premier Li Qiang meets with Finnish President Alexander Stubb at the Great Hall of the People in Beijing, capital of China, Oct. 29, 2024. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI Australia: New public forecourt is the next chapter for State Library

    Source: New South Wales Government 2

    Headline: New public forecourt is the next chapter for State Library

    Published: 30 October 2024

    Released by: Minister for the Arts, Minister for Lands and Property


    The forecourt to the State Library of NSW will be transformed into a new public domain as the institution prepares to celebrate its 200-year anniversary in 2026.

    The Minns Labor Government is focused on building better communities, with a new development application lodged with the City of Sydney to turn the forecourt into a new 3,400 square metre public domain.

    This submission has been lodged by Property and Development NSW (PDNSW) and proposes to integrate public art and native plants around a new grassed plaza, that supports library events and community activities. It will double the size of the current forecourt to create a vibrant new public space.

    The works propose to realign Sir John Young Crescent and Hospital Road, improving safety for pedestrians and drivers, to provide better links to the Royal Botanic Gardens and The Domain. The existing Shakespeare Memorial, originally presented to the city in 1914, will be relocated closer to the library in the forecourt area.

    The State Library welcomed over one million visitors (a 30% increase on 2022/23) during the June 2024 fiscal year, with more than 300,000 readers and visitors anticipated during September and November for this year’s HSC period.

    If approved, the new State Library forecourt proposal could deliver public outcomes consistent with the Macquarie Street East Precinct 20-year vision and masterplan. At the other end of Macquarie Street, early works have provided the space for another new public plaza, next to the Registrar General’s Building, to be known as QEII Place in memory of Her Late Majesty Queen Elizabeth II.

    For more information, visit https://www.dpie.nsw.gov.au/housing-and-property/our-business/precinct-development/macquarie-street-east-precinct.

    Minister for Roads and Minister for the Arts John Graham said:

    “The State Library of NSW is the oldest continuously operating library in Australia that remains a vital and contemporary institution loved by readers, researchers and the thousands of students who use it every day.  

    “The plan to create and deliver a new public space that celebrates the library’s 200-year anniversary in 2026 is another chapter in the State Library’s own story.

    “Supporting the delivery of this new public domain, the proposed road and traffic changes will improve public access to other Sydney cultural institutions and this area around Macquarie Street.

    Minister for Lands and Property and Minister for Small Business Steve Kamper said:

    “The Minns Labor Government is focused on building better communities. This project is the next step in our vision to create a vibrant, connected arts and culture destination.”

    “We have submitted plans that strive to create spaces in the Macquarie Street East Precinct that are welcoming and safe for all. We want to encourage families and students to utilise our public spaces and access our free cultural institutions.”

    State Librarian of New South Wales Dr Caroline Butler-Bowden said:

    “The State Library is a much-loved public institution with historic spaces and galleries, world-renowned collections, and dynamic events and learning programs. It offers something for everyone – readers, families, researchers, students, local and international visitors – every day of the week.

    “The new public forecourt will help grow the Library as a vibrant cultural heart of the city, inviting everyone to freely explore and enjoy this truly unique place.”

    MIL OSI News

  • MIL-OSI Australia: Transcript – Ports Australia conference

    Source: Australian Ministers for Infrastructure and Transport

    **CHECK AGAINST DELIVERY**

    As always, I begin by acknowledging the Muwinina People as the custodians of this land. We acknowledge and pay our respects to all Tasmanian Aboriginal Communities.

    Tasmania is one of the most beautiful places in our nation and a fitting setting for the Ports Australia Conference.

    We recognise the ongoing custodianship that Indigenous Australians have shown towards these lands and I extend this respect to all First Nations people joining us today.

    Thank you as well to Mike for that kind introduction, and to Stewart, your Chair, thank you very much for the invitation and for all the work that you do throughout the course of the year.

    It is wonderful to see so many public and private leaders from around the world come together.

    I would also like to extend a particular welcome to the Minister for Infrastructure for the Kingdom of Tonga.

    Like Australia, your nation relies on shipping. It is wonderful to have you here.

    I also want to recognise Dr Patrick Verhoeven, the Managing Director of the International Association of Ports and Harbours, and Jens Meier, the CEO of Hamburg Port Authority, who have travelled such a long way.

    Your presence underlines the inherently global nature of this industry, and I hope you enjoy your time here in our beautiful country.

    This is in fact my second time in Tasmania in the last two weeks. 

    Last week I was in the north, this week I’m in the south.

    On both these visits, I have had the pleasure of engaging with Tasmania’s proud maritime industry.

    Last week, I was in Burnie to commission the new shiploader – a project which replaced an essential piece of infrastructure that had been in place for five decades.

    The new shiploader doubles the capacity of the old, and can serve ships up to Panamax size, creating local jobs and growing local industry.

    It is a project that pays tribute to both the maritime past and future of this great state, as well as setting the local economy up for decades of success to come.

    It also speaks to how essential maritime logistics are to our day-to-day lives.

    At the port I could see woodchips going to China, as well as cars and supermarket produce coming into the state.

    It is too easy to miss the magic that defines our modern world, but when you take even a moment to think about it, it is truly extraordinary. 

    That port in Burnie on the north coast of Tasmania is connected to a global network that stretches to every corner of our planet. 

    Everything that we rely on, relies in turn on shipping – which is why it is such a pleasure to be here today with some of the many, many hardworking people who underpin this essential industry.

    Events like these are key to fostering a strong, robust sector – and year after year, Ports Australia does a wonderful job bringing you together and advocating for your industry.

    I stand here today as a minister in a government that knows that ports are a primary driver of our economy and workforce. 

    As well as facilitating international trade and the movement of goods throughout the region, our ports are strategic assets and critical infrastructure.

    They are vital to sustaining our island nation. 

    The most recent report from Ports Australia shows exactly this. 

    Ports move an overwhelming 99 per cent of Australia’s international trade by volume, and importantly, over 694,000 local jobs are facilitated by Australia’s port activities. 

    This works out to a staggering one in every 20 jobs across the nation. 

    Container transport has seen a huge increase.

    As have vehicle imports. 

    The most recent numbers show that cruise ships have soared to 18% higher than pre-pandemic numbers.

    You take our goods to the world, and you bring the world to us.

    Of course, these numbers, while good news, bring pressures of their own. 

    This story of growth underlines the need to ensure that our infrastructure, our investments and our policies are positioned to support a sustainable, reliable and productive supply chain. 

    That’s why our government is making investments like those at the Port of Burnie, and it is also why my department led a review earlier this year into the national freight and supply chain strategy. 

    In total, 71 submissions were received from a variety of stakeholders, including from maritime and associated peak bodies.

    Of course, I acknowledge and thank Ports Australia for their submission and engagement throughout the Review process.  

    The review found that while the foundations of the strategy remain strong, productivity, resilience, decarbonisation and data should be strengthened in the strategy and new National Action Plan.

    We are already doing the work of refreshing the strategy and action plan to address the findings of the review, and I look forward to updating you further in due course.

    But, of course, the findings of the review touch on challenges that are faced across our entire economy and society – none more so than the need to act to mitigate climate change. 

    The Albanese Government is committed to reducing greenhouse gas emissions to 43% below 2005 levels by 2030 and to achieving net zero emissions by 2050. 

    Achieving these ambitious economy-wide targets will require concerted action across all sectors, including this one. 

    Right now, transport contributes 21 percent of Australia’s direct emissions. 

    Adding to that challenge, transport is one of the hardest sectors to abate.

    So, our work here is vital.

    That is why we released the Transport Net Zero Roadmap for consultation earlier this year. 

    While that roadmap covered all modes of transport, it was of particular importance for the maritime sector.

    As we know, decarbonisation will rely on a combination of low carbon liquid fuels (LCLFs), hydrogen, electrification and efficiency improvements.

    Of these, LCLFs offer the clearest pathway for decarbonisation within liquid fuel-reliant sectors that cannot readily electrify in the near-term. 

    This includes maritime, aviation, heavy vehicle and rail, as well as mining, manufacturing and agricultural sectors.

    The bad news is that we need a lot of liquid fuels, but the good news is that Australia is well-placed with comparative advantages in the production of LCLFs: 

    • We have rich renewable energy resources; 
    • We use advanced farming practices that embody low carbon emissions;  
    • We are able to achieve economies of scale;
    • We have significant refining and port infrastructure; 
    • And we have the ability to both enable and encourage domestic fuel consumption, as well as support export capability.

    As part of our Future Made in Australia agenda, the Government is fast-tracking support for an LCLF industry.

    The government announced $18.5 million as part of the recent Budget, to support a domestic LCLF industry through the development of a certification scheme for those fuels.

    And $1.7 billion over the next ten years will go towards a Future Made in Australia Innovation Fund.

    This funding will be used in part to support nascent LCLF production technologies through research and development, to help de-risk developments, and to attract private sector investment.

    And we will continue to work with industry on further steps as needed.

    By successfully building a local LCLF industry we will increase fuel security, strengthen regional economies, diversify income streams for farmers, and meet our decarbonisation objectives – it’s hard to find a bigger win-win than that. 

    To speak even more specifically to the challenges of this sector, we’ve created a Maritime Emission Reduction National Action Plan, the MERNAP for short.

    The MERNAP aims to support Australia’s national emissions reduction targets, contribute to the global decarbonisation of shipping, and future-proof the Australian maritime sector to avoid costly and disruptive transitions later, ensuring an equitable transition, particularly for the maritime workforce, safeguarding jobs and skills for the future.

    The vision is that by 2050, Australia will fully leverage the global maritime decarbonisation transition, benefiting our ports, vessels, and the broader energy sector. 

    This will showcase Australia’s unique comparative advantages while supporting a fair and balanced transition for the industry.

    The MERNAP Consultative Group has played a vital role in shaping this action plan, and I’d like to acknowledge those here today, including: Maritime Industry Australia Limited, the Maritime Union of Australia, and of course, Ports Australia.

    To support the development of MERNAP, we undertook extensive public consultations that revealed to us that the future of the maritime sector will be powered by multiple energy sources, all of which will require new skills, and see us facing new challenges around technology readiness for alternative fuels. 

    Safety, operational efficiencies, and strong partnerships across the value chain will be critical to driving this transition.

    The Albanese Government remains committed to ensuring that Australia’s maritime industry is prepared for the future, ready to contribute to our national emissions targets, and able to thrive in a decarbonised global economy – including through initiatives like Green Shipping Corridors – partnering with nations, such as New Zealand, Singapore and South Korea. 

    I have focused a lot on what fuels our maritime sector, but there is, of course, an even more important element – the people who run it.

    I am proud to say that our plan to establish a Strategic Fleet is underway. 

    This fleet will provide assistance in times of crisis, supply chain disruption, or natural disaster. And it will support industries reliant on shipping, such as heavy manufacturing.

    Tenders to participate in the Strategic Fleet Pilot will close on 29 November. 

    Through this process, three vessels that will be privately owned and commercially operated will be selected for the pilot. 

    This is a major step towards fulfilling our commitment to establish a Strategic Fleet of up to twelve Australian flagged and crewed vessels. 

    This will strengthen our sovereign maritime capabilities while supporting our maritime workforce. 

    The creation of a strategic fleet is a central government policy that will shape our workforce for decades to come. 

    I strongly encourage all interested parties to take part in this process and to consider what role they can play.

    The tender process is being managed by my Department, which is seeking innovative tenders that will deliver the objectives of the Pilot Program. 

    These include providing the Commonwealth with certainty of access to the strategic fleet, to move cargo in times of need, crisis or national emergency. And to support of the needs of Defence —including in training and logistical capacities.

    The Albanese Government is seeking to have pilot vessels on the water as soon as possible.

    While it is not a silver bullet to solve all of the issues of our current and emerging seafarer shortage, the Strategic Fleet and the work being undertaken by Industry Skills Australia through the Maritime Industry Workforce Plan, will support our maritime workforce by increasing the amount of Australian qualified seafarers at a time of a growing global shortage. 

    The independent reviews of the Shipping Registration Act and the Coastal Trading Act being conducted by Ms Lynelle Briggs AO and Emeritus Professor Nicholas Gaskell will also contribute to the modernisation of Australia’s shipping regulatory framework, ensuring the Acts are fit for purpose and support the long-term sustainability of an Australian Maritime Strategic Fleet, and the maritime industry more broadly. 

    Public consultation has commenced and I encourage you all to make your voices heard.

    As you can see, there is a lot to do in your sector and we are a government that is determined to get on with doing it.

    The reforms the Albanese Government is delivering will do our part to support a productive, resilient supply chain, while positioning Australia to thrive in the new net zero economy.

    Thank you for having me, and all the best with the rest of your conference.

    ENDS

    MIL OSI News

  • MIL-OSI Australia: Report of the Inspector of the National Anti-Corruption Commission

    Source: Australia Government – Attorney General

    The Inspector of the National Anti-Corruption Commission, Ms Gail Furness SC, has published the Report of her investigation into the National Anti-Corruption Commission’s (NACC) decision not to investigate referrals from the Royal Commission into the Robodebt Scheme.

    MIL OSI News

  • MIL-OSI Security: Statement Regarding Fires at Ballot Boxes

    Source: Federal Bureau of Investigation (FBI) State Crime News

    The following statement may be attributed to U.S. Attorney Tessa M. Gorman and Greg Austin, acting special agent in charge of the FBI Seattle field office:

    “The U.S. Attorney’s Office and the FBI want to assure our communities that we are working closely and expeditiously together to investigate the two incendiary fires at the ballot boxes in Vancouver, Washington, and the one in Portland, Oregon, and will work to hold whoever is responsible fully accountable.”

    Anyone with information is asked to contact the nearest FBI office, provide information through tips.fbi.gov, or call 1-800-CALL-FBI (800-225-5324).

    MIL Security OSI

  • MIL-OSI Security: U.S. Marshals Capture Crockett County Attempted Murder Suspect in Memphis

    Source: US Marshals Service

    Bells, TN – Today, U.S. Marshals captured Antonio Pewitte, 37, of Humboldt, TN, at a Memphis residence. Pewitte was wanted for attempted first degree murder for a stabbing incident that occurred in Bells in Crockett County, TN.

    On October 19, 2024, the Bells Police Department investigated an incident where it is alleged that Pewitte laid in wait outside his former girlfriend’s place of employment. As she entered the building, Pewitte approached her from behind and stabbed her multiple times in the face and head with a knife. He then fled the scene. The U.S. Marshals Service (USMS) Two Rivers Violent Fugitive Task Force in Jackson was requested to locate and apprehend Pewitte.

    On the morning of October 29, U.S. Marshals developed information that Pewitte was in Memphis. The USMS, assisted by the Memphis Police and Shelby County Fugitive Apprehension teams, went to a residence in the 2200 block of Falling Oak Way. Pewitte was safely taken into custody and transported to the Bells Police Department.

    The USMS would like to acknowledge the Bells, Gadsen, Humboldt, and Brownsville Police Departments, as well as the Crockett and Gibson County Sheriff’s Departments for their work on the case. The USMS would also like to thank the citizens who called in information.

    The U.S. Marshals Two Rivers Violent Fugitive Task Force is a multi-agency task force within Western Tennessee. The TRVFTF has offices in Memphis and Jackson, and its membership is primarily composed of Deputy U.S. Marshals, Shelby, Fayette, and Tipton County Sheriff’s Deputies, Memphis and Jackson Police Officers, the Tennessee Department of Correction Special Agents and the Tennessee Highway Patrol. Since 2021, the TRVFTF has captured approximately 3,000 violent offenders and sexual predators.

    MIL Security OSI

  • MIL-OSI Economics: Cali joins the Biodivercities Network at COP16

    Source: CAF Development Bank of Latin America

    The executive president of CAF, Development Bank of Latin America and the Caribbean, Sergio Díaz-Granados, and the Mayor of Cali, Alejandro Eder, signed the city’s adhesion to the Biodiverciudades Network, which promotes biodiversity conservation as a central part of planning, land use, and socioeconomic development of cities.

    “For me, the bank’s support was very important because of the expertise and peace of mind that comes from having a regional and world-class ally like CAF,” said Alejandro Eder.

    The mayor of Cali said that the best result of the COP16 in Cali is that it is generating a collective awareness towards biodiversity, and a reconnection of citizens with nature. He also mentioned some research and development projects, and ideas to integrate the Farallones to the city or promote ecotourism.

    “We are going to move from will to actions. You can count on CAF’s support,” said Sergio Diaz-Granados. “We want to accompany the region’s efforts to protect our biodiversity, be increasingly sustainable and face climate change with more guarantees,” he added.

    The Biodiverciudades Network, led by CAF, the Humbolt Institute and UN Habitat, aims to support the urban-territorial planning and management processes of Latin American and Caribbean governments that effectively integrate the conservation, restoration and sustainable use of biodiversity as a basis for their socioeconomic development and the improvement of people’s quality of life.

    MIL OSI Economics

  • MIL-OSI USA: Explore Autumn in Arkansas

    Source: United States House of Representatives – Congressman Bruce Westerman (AR-04)

    Explore Autumn in Arkansas

    Temperatures drop and the days get shorter, but Autumn in Arkansas brings a burst of red, orange, and gold as the landscape comes to life through the transformation of fall foliage. People across the country venture to our great state every year to drive along scenic Highway 7 or set up camp along the Buffalo National River to catch glimpses of the Natural State’s beauty. This changing of seasons is an encouraging reminder – the oppressive summer heat never lasts forever, and beauty and newness are always just around the corner.

    Charlie.Louree…


    October 22, 2024

    MIL OSI USA News

  • MIL-OSI USA: The Biden-Harris Attack on American Energy

    Source: United States House of Representatives – Congressman Bruce Westerman (AR-04)

    The Biden-Harris Attack on American Energy

    The Biden-Harris administration has continued to convey that America does not come first in their policies. Through reckless energy, mining, transportation, and regulatory policies, this administration has put a burden on Americans who are already struggling to feed and clothe their families. Last week, the Biden-Harris administration published data in the Federal Register which outlined cost figures for five residential energy sources: electricity, natural gas, No. 2 heating oil, propane, and kerosene.

    Charlie.Louree…


    October 25, 2024

    MIL OSI USA News

  • MIL-OSI Security: Albany — Route 1 – Trans-Canada Highway closed to all traffic near Albany Y

    Source: Royal Canadian Mounted Police

    The overhead road sign structure that spans the highway near the Albany Y, closest to Borden-Carleton, has collapsed.

    At approximately 7:30 p.m. on Tuesday, October 29, 2024 PEI RCMP responded to a call of traffic backing up on the Trans-Canada Highway near the Albany Y. It appears the overhead road signage directing traffic to Summerside or Charlottetown fell down across the entire highway. PEI RCMP are on scene and Provincial Department of Highways are also attending the incident. As a result, Route 1 – Trans-Canada Highway, is closed to traffic in both directions near the Albany Y at Borden-Carleton.

    Detours will be in place and motorists are asked to use caution in this area. Anyone travelling in the area is asked to follow all instructions from safety personnel. Delays can be expected until the road is cleared. Updates will be provided on PEI RCMP social media.

    MIL Security OSI

  • MIL-OSI USA: Baldwin Delivers Nearly $450,000 to Lower Prices at the Pump in Northwest Wisconsin

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin
    WEBSTER, WI – Today, U.S. Senator Tammy Baldwin (D-WI) announced that Wisconsin will receive more than $445,000 to lower prices at the pump and give Wisconsinites cleaner fuel options. The funding comes from the U.S. Department of Agriculture’s Higher Blends Infrastructure Incentive Program, funded by the Baldwin-backed Inflation Reduction Act.  
    “Homegrown biofuels reduce our dependence on foreign oil, lower prices at the pump, and support Wisconsin farmers,” said Senator Baldwin.  “I was proud to vote to provide this funding to keep our Made in Wisconsin economy moving forward, cut costs for families, and support our small towns and rural communities like Webster.”
    Connor’s Service Station in Webster, Wisconsin will use the funding to install two E15 fuel dispensers, two B20 dispensers, one ethanol storage tank, and one biodiesel storage tank. The project is expected to increase the amount of biofuel sold by nearly 224,000 gallons per year.
    Senator Baldwin has long championed increasing the use of biofuels to reduce prices at the pump and support Wisconsin’s farmers, producers, and rural communities. Last year, Senator Baldwin successfully pushed the Biden administration to allow E15 fuel to be sold during the summer months.  

    MIL OSI USA News

  • MIL-OSI USA: Reed Delivers $1.5 Million for Expansion of Bryant School of Health & Behavioral Sciences

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    SMITHFIELD, RI – In an effort to help bridge health care education and train more mental health clinicians, U.S. Senator Jack Reed today joined students, educators, and Bryant University leadership to deliver a $1.5 million federal earmark to strengthen health and behavioral sciences instruction and prepare more mental health care and health professionals to enter the local workforce.

    The $1.5 million federal earmark secured by Senator Reed is for Bryant University’s School of Health and Behavioral Sciences (SHBS) and its new doctoral program in clinical psychology (Psy.D.), which will launch next fall and be the first program of its kind in Rhode Island.

    The funding secured by Senator Reed will support renovation and expansion of SHBS to more than double its current footprint and house state-of-the-art teaching and research labs that will support Bryant’s curricular efforts to foster the development of a modern health care workforce.

    “Across the nation, communities and states need more mental health professionals who have the skills needed to effectively treat patients.  By expanding Bryant’s School of Health and Behavioral Sciences to include new, state-of-the-art lab and class spaces, the university is helping to address pressing needs and produce more well-trained health care providers who will graduate with hands-on experience in diverse clinical settings,” said Senator Reed, a member of the Senate Appropriations Committee.  “I salute Bryant for the outstanding work they do to build our future health care workforce and to address our nation’s mental health crisis.  This $1.5 million earmark will help them advance their important mission, expand Bryant’s health footprint, and train more highly-skilled health care and mental health care professionals to serve in high-demand environments.”

    “We are grateful to Senator Reed for enabling Bryant University to advance its ability to address the healthcare shortage in Rhode Island,” said Bryant University President Ross Gittell, Ph.D. “Aligned with our Vision 2030 priorities, this federal funding allows Bryant to put in place state-of-the-art behavioral health facilities as we launch Rhode Island’s only Doctor of Clinical Psychology (Psy.D.) program.”

    Provost and Chief Academic Officer Rupendra Paliwal, Ph.D., said, “This earmark not only enhances our facilities but also empowers us to train the next generation of healthcare practitioners, especially in the critical field of mental health. Our new Psy.D. will provide learners with a cutting-edge education that will prepare them to address the pressing mental health needs of our communities upon graduation.”

    Senator Reed joined Bryant University President Dr. Ross Gittell, Provost and Chief Academic Officer Dr. Rupendra Paliwal, Director of SHBS Dr. Kirsten Hokeness, and Associate Director of SHBS and President of the RI Psychological Association Dr. Joseph Trunzo to tour the SHBS, discuss plans for the two-phase expansion project, and to meet with students currently enrolled in the program.

    Phase 1 of the expansion of campus science facilities will directly support the growth of Bryant’s Psy.D. program. The first phase will include:

    • Behavioral Health/Psychology suite including seven observation and counseling labs, cognitive and psychophysiology labs, and a child development center.

    Phase 2 of the expansion will include:

    • Six teaching labs and a healthcare informatics lab;
    • Six research labs supporting faculty and student research programs and a shared health care informatics lab which can serve as a core facility for the state; and
    • Laboratory prep areas, chemical storage, and waste rooms.

    Bryant University launched its new School of Health and Behavioral Sciences in 2022 as part of Bryant’s Vision 2030 Strategic Plan, building on successful programs like the university’s Master of Physician Assistant (PA) program.

    MIL OSI USA News

  • MIL-OSI New Zealand: Holding firearms offenders to account

    Source: New Zealand Police (District News)

    The sentencing of Matua Parkinson in the Whakatāne District Court today marks the completion of a collaborative effort by Police and the Firearms Safety Authority-Te Tari Purēke to hold firearms offenders to account.

    Parkinson is a former firearms licence holder who pleaded guilty in June to unlawful possession of five Alfa Carbine rifles which he supplied to an unlicensed person.

    Parkinson, aged 49, admitted travelling from his Tauranga home to two Gun City stores in Auckland where he paid almost $11,000 in cash for five Alfa Carbines in June 2022. The firearms have not been recovered.

    Detective Inspector Albie Alexander said Parkinson’s offending put the public and Police at risk.

    “Parkinson has held high positions of responsibility in the community, including an elected health board official and been captain of the All Blacks Sevens. Alongside such roles he was also required to meet the legal obligations to be a fit and proper person to hold a firearms licence,” DI Alexander says.

    “Any diversion of lawfully purchased firearms to unlicensed people, potentially gang members, criminals or extremists, poses a significant safety threat to the public and to frontline Police officers.

    “The National Organised Crime Group is aware of multiple examples of sawn-off Alfa Carbine rifles being used to commit crimes, including homicides. More than 70 percent of firearms seized from offenders are standard rifles and shotguns, easily obtained by a so-called ‘A-Category’ licence holder.

    “Today’s sentencing brings an end to court proceedings involving Parkinson, but the full impact of his offending is ongoing as the Alfa Carbines he supplied to unlicensed people remain in circulation and are most likely in the hands of criminals.

    DI Alexander says Police and colleagues from the Firearms Safety Authority-Te Tari Purēke collaborated to revoke Parkinson’s firearms licence and remove all firearms from his possession when his alleged offending became known in 2023.

    Firearms Safety Authority Executive Director Angela Brazier says the law requires licence holders to act in the interests of personal and public safety and maintain their fit and proper status at all times.

    “Holding a firearms licence is a privilege reserved for those who follow the law. The vast majority of licence holders are law abiding who have no trouble meeting their responsibilities.

    “For a criminal few, offending will become a lot harder over time with the new Firearms Registry. When fully rolled out it will help flag unusual patterns of firearms purchasing in real time and help to reduce the flow of lawfully held firearms to the illegal market,” says Angela Brazier.

    ENDS 

    Issued by Police Media Centre 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Summer walking season off to a good start

    Source: Department of Conservation

    Date:  30 October 2024

    DOC’s seasonal experiences (including Milford, Kepler, Routeburn, Tongariro Northern Circuit and Whanganui Journey Great Walks) open across October and November for the peak summer season that runs from now until the end of April.

    DOC Heritage and Visitor Director Catherine Wilson, shares her top advice for all those planning to get into nature over the next few months, whether on a Great Walk, a day hike or somewhere further off the beaten track.

    “Spring is a beautiful but unsettled time in the outdoors. Rivers can rise quickly from rain or snowmelt and avalanche danger can continue through spring and early summer.

    “We’re keen to ensure outdoor adventures are truly memorable experiences for all the right reasons. We also want people to be mindful that, as it gets busier, their behaviour can make all the difference for our species and places.

    “DOC’s website and visitor centres hold important safety information for anyone preparing to head out. Those planning tramping trips should check the latest weather and safety information, pack the right gear with extra layers and plenty of food and water, and let others know where they are going and when they expect to return.

    “We ask people to help protect the land, water and wildlife in the natural areas they visit – give wildlife space, never feed the birds, use toilets provided and take litter away with them or put it in a bin.”

    “We’re also reminding people of the importance of paying their hut and campsite fees to make a fair contribution and help keep these facilities available in future. Visitors paying the New Zealand rate on the Great Walks will need to carry proof of ‘ordinary residency’ to show rangers and visitor centres.

    Catherine Wilson says bookings are looking promising for the coming season with Great Walks bookings up 19% on the same time last year.

    “Milford, Routeburn and Kepler are close to or at capacity, but there is still plenty of space available across the network of 11 walks.

    “International bookings are similar to last year accounting for approximately 25% of all bednights.

    And it’s not just Great Walks people should plan ahead and book for this season, says Catherine Wilson.

    “DOC will be continuing with a free booking system for Tongariro Alpine Crossing as we work to manage visitor pressures and safety on this popular day hike.

    “Bookings for huts and campsites outside of the Great Walks, are very strong this year, up 40% on the same time last year as weather-damaged facilities re-open and additional popular facilities become bookable.”

    How to be a low impact tramper

    Make a commitment to Aotearoa by protecting nature, being prepared, keeping New Zealand clean and showing respect.

    Contact

    For media enquiries contact:

    Email: media@doc.govt.nz

    MIL OSI New Zealand News

  • MIL-OSI Australia: Strike Force Trident Responds to Overnight Crime Spree in Northern Suburbs

    Source: Northern Territory Police and Fire Services

    Strike Force Trident responded to an overnight crime spree across Darwin’s northern suburbs, which included an attempted car-jacking, multiple burglaries, and the theft of scooters.

    Four youths, aged between 13 and 15, are currently in custody following swift arrests made by Strike Force Trident and the Dog Operations Unit (DOU). Investigations remain ongoing to identify additional offenders involved in the incidents.

    Between midnight and 4:00am, police received multiple reports of unlawful entries at business premises across the northern suburbs. In addition to these incidents, a car-jacking occurred on Wood Street in Darwin City, where a victim, while parked, was approached by two offenders. The offenders allegedly assaulted the victim and threatened them with an edged weapon before fleeing the scene.

    A team from Strike Force Trident and DOU were immediately deployed. CCTV footage was reviewed, leading to the identification of four offenders. Trident officers quickly attended known residential locations in the northern suburbs and arrested the four youth offenders, all of whom were already on bail and subject to Electronic Monitoring conditions.

    Detective Acting Senior Sergeant Chris Humphries praised the coordinated response, stating, “This is a great example of efficient teamwork between Strike Force Trident and the Dog Operations Unit. Their ability to identify and apprehend the offenders within two hours of responding demonstrates their dedication and effectiveness.”

    Investigations into both the unlawful entries and the car-jacking are ongoing, and police are urging anyone with information to contact NT Police on 131 444 or Crime Stoppers on 1800 333 000.

    MIL OSI News