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MIL-OSI United Kingdom: Over £1 billion to boost bus services across the country as bus fares capped at £3
Source: United Kingdom – Executive Government & Departments

The £3 fare cap will keep bus travel affordable while ensuring it is fair to taxpayers.
single bus fares to be capped at £3 until the end of 2025, ensuring services remain affordable and supporting travel in rural areas and towns

fare cap extension comes on top of nearly £925 million invested to deliver high quality services and protect vital bus routes up and down the country

part of government plans to end the postcode lottery of bus services, ensure access to opportunities and deliver growth

Millions of people will enjoy better bus services as the government invests over £1 billion to protect vital bus routes and cap bus fares, particularly in rural communities and towns where there is a heavy reliance on buses.

Prime Minister Keir Starmer confirmed today (28 October 2024) that bus travel will be kept down at £3 at the Budget for an additional year – saving up to 80% on some routes.

Under the inherited plans, funding for the current cap on bus fares had been due to expire at the end of 2024, with fares set to soar by as much as £13 for the Leeds to Scarborough route, unless the government intervened to keep fares down.

The government’s announcement will ensure fares remain affordable from 1 January 2025 and prevent a financial cliff-edge for bus operators that would have seen vital services put at risk across the country.

The £3 maximum fare cap will keep bus travel affordable while ensuring the cap is fair to taxpayers, helping millions of people access better opportunities and protect vital bus routes, particularly lifeline services in rural communities.

The cap means no bus fare will exceed £3, and routes where fares are less than £3 will only be allowed to increase by inflation in the normal way. Local authorities and Metro Mayors can also fund their own schemes to keep fares down, as is already the case in London, West Yorkshire and Manchester.

Some of the biggest bus savings on some key routes up and down the country include:

Journey Normal fare Amount save under £3 cap % saving under £3 cap

Newcastle to Middlesbrough £8.00 £5.00 63%

Hull to York £8.50 £5.50 65%

Leeds to Scarborough £15.00 £12.00 80%

The cap is being funded by £151 million from government until the end of 2025. It comes as the Department for Transport confirms an additional £925 million for the 2025 to 2026 financial year to improve bus services across the country, bringing total bus investment at the Budget to over £1 billion.

Local authorities can use the £925 million to introduce new bus routes, make services more frequent and protect crucial bus routes for local communities.

Moving forward, the government will also explore more targeted options that deliver value for money to the taxpayer to ensure affordable bus travel is always available for the groups who need it the most – such as young people.

Transport Secretary Louise Haigh said:

Buses are the engines of economic opportunity across the country.

We know that reliable, affordable bus services are vital to keeping Britain moving. That’s why the government will cap fares at £3 for an additional year and provide over £1 billion to deliver better bus services.

This will avoid a cliff-edge at the end of this year and keep fares affordable across the country – improving access to opportunities, particularly in towns and rural areas, while offering value for the taxpayer.

Our bus revolution will give every community the power to take back control of their services, end the postcode lottery of services and turn the page on 4 decades of failed deregulation.

The move comes ahead of the new Buses Bill, to be introduced later this parliamentary session, which will help bring an end to the current postcode lottery of bus services by empowering local authorities to deliver modern and integrated bus networks that put passengers at the heart of local decision making.

The bill will mean local transport authorities can emulate the huge success of publicly controlled buses in Greater Manchester and London. Greater Manchester’s successful Bee Network has already seen passenger numbers grow by 5% since public control began to be rolled out just a year ago.

Buses remain the most used form of public transport across the country, but – after almost 4 decades of failed deregulation – thousands of vital services have been slashed, with passengers left frustrated at the lack of accountability.

Since 2010, the number of miles driven by buses has plummeted by around 300 million. The transformative work this government is doing will turn the tide by giving communities access to reliable and affordable services and the opportunity to have a real say in building local transport networks that work for them.

David Sidebottom, director at the independent watchdog Transport Focus, said:

We know that bus passengers want simpler, better value for money fares and buses provide a lifeline for so many people up and down the country. Our research shows the fare cap is having a big impact in helping more people get around by bus.

We welcome the wider investment in services, and the announcement of a new £3 cap on bus fares will provide certainty for many people who are struggling and worried about the cost of travel.

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Published 28 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI Security: Twillingate — Twillingate RCMP investigates break, enter and theft at Gary’s Irving in Summerford, man arrested

Source: Royal Canadian Mounted Police

Following a break, enter and theft that occurred on October 26, 2024, at Gary’s Irving in Summerford, 41-year-old Adam Boyde was arrested by Twillingate RCMP.

The crime occurred at approximately 2:45 a.m. on October 26. The front door glass was smashed and a quantity of alcohol and cigarettes were stolen from inside. Evidence obtained during the investigation identified the suspect as Adam Boyde, who was arrested later that day.

Boyde is charged with break, enter and theft and is set to appear in court at a later date.

RCMP NL continues to fulfill its mandate to protect public safety, enforce the law, and ensure the delivery of priority policing services in Newfoundland and Labrador.

MIL Security OSI –

January 25, 2025
MIL-OSI: Skyward Specialty Announces Time Change for Third Quarter Earnings Call on Wednesday, October 30, 2024

Source: GlobeNewswire (MIL-OSI)

HOUSTON, Oct. 28, 2024 (GLOBE NEWSWIRE) — Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) (“Skyward Specialty” or “the Company”) today announced a time change of its previously announced third quarter earnings call. The conference call and webcast will still be held on Wednesday, October 30, but will now begin at 9:30 a.m. EDT, rather than the previously scheduled time of 8:30 a.m EDT.

As previously communicated, Skyward Specialty will issue its third quarter 2024 earnings results after the market closes on Tuesday, October 29. The earnings results will be available on the Company website at investors.skywardinsurance.com/ under Quarterly Results.

Investors may access the live audio webcast via the link on the Company’s investor site at investors.skywardinsurance.com/ under Events & Presentations. Additionally, investors can access the earnings call via conference call by registering via the conference link. Users will receive dial-in information and a unique PIN to join the call upon registering.

A webcast replay will be available two hours following the call in the same location on the Company’s investor website.

About Skyward Specialty

Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions — Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.

Skyward Specialty’s subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A (Excellent) with a stable outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.

For investor relations information contact:

Natalie Schoolcraft
nschoolcraft@skywardinsurance.com
614-494-4988

The MIL Network –

January 25, 2025

Journey	Normal fare	Amount save under £3 cap	% saving under £3 cap
Newcastle to Middlesbrough	£8.00	£5.00	63%
Hull to York	£8.50	£5.50	65%
Leeds to Scarborough	£15.00	£12.00	80%

MIL-OSI: Coface SA: Fitch affirms Coface AA- rating, with ‘stable’ outlook

Source: GlobeNewswire (MIL-OSI)

Fitch affirms Coface AA- rating, with ‘stable’ outlook

Paris, 28 October 2024 – 18.45

The rating agency Fitch affirmed today Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.

Fitch has also affirmed Coface SA’s Long-Term Issuer Default Rating (IDR) at ‘A+’, with a stable outlook.

The rating action reflects “Coface’s very strong company profile and capitalisation, as well as a strong profitability through the cycle”. The stable outlook reflects Fitch’s view that “Coface continues to maintain sufficient rating headroom to withstand weaker macro-economic conditions and rising corporate default risk over the next 12-24 months”.

In Fitch’s press release, the rating agency recognises Coface’s “very strong, well established and geographically diversified franchise in the global trade credit insurance sector”. Fitch highlights also that “factoring, information services and other fee-based activities enhance Coface’s business diversification”.

Fitch views Coface’s financial performance “as strong across the economic cycle, underpinned by underwriting profitability and effective risk management and reinsurance”.

CONTACTS

ANALYSTS / INVESTORS
Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

MEDIA RELATIONS
Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

2024 FINANCIAL CALENDAR
9M-2024 results: 5 November 2024 (after market close)

FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website:
http://www.coface.com/Investors

For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust. You can check the authenticity on the website www.wiztrust.com.

COFACE: FOR TRADE
With over 75 years of experience and the most extensive international network, Coface is a leader in Trade Credit Insurance & risk management, and a recognised provider of Factoring, Debt Collection, Single Risk insurance, Bonding, and Information Services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group’ solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2023, Coface employed ~4,970 people and registered a turnover of €1.87 billion.

www.coface.com

COFACE SA is quoted in Compartment A of Euronext Paris
Code ISIN: FR0010667147 / Mnémonique: COFA

DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2022 Universal Registration Document filed with AMF on 6 April 2023 under the number D.23-0244 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

Attachment

2024 10 28 PR Fitch affirms Coface AA- rating

The MIL Network –

January 25, 2025

MIL-OSI USA: Biden-Harris Administration, alongside Congresswoman Wilson, Announce $389 million towards Miami-Dade County’s Northeast Corridor Rapid Transit Project

Source: United States House of Representatives – Congresswoman Frederica S Wilson (24th District of Florida)

The Federal Transit Administration, alongside Congresswoman Frederica Wilson (FL-24), announced that it is advancing the Miami-Dade County Northeast Corridor Rapid Transit Project into the Engineering phase of the Capital Investment Grants (CIG) program.

This means the Federal Transit Administration will invest $389,474,434 in Miami-Dade County. The total project plan is $927.3 million, and under this plan, the Federal Transit Administration will provide $389.4 million, Miami Dade County will provide 337.9 million, and the State of Florida will commit $200 million.

Congresswoman Wilson, a senior member of the Transportation and Infrastructure Committee, said, “The Federal Transit Administration’s announcement is a game-changer for Miami-Dade County and brings our community much closer to seeing the Northeast Corridor become a reality. Traffic and transit options have been issues across Miami-Dade County for as long as I can remember, especially in areas like Wynwood, Aventura, Little Haiti, and North Miami. I’m proud to have worked with our county officials and federal partners at the Federal Transit Administration to help secure these funds for Miami-Dade County. Constructing the Northeast Corridor will help reduce traffic, provide more transportation options, create jobs, contribute to our efforts to combat the climate crisis, and allow Miami-Dade County to become the modern, transit-connected community it deserves to be. While more work lies ahead, today marks a large milestone in our efforts to construct the Northeast Corridor.”

Congresswoman Wilson represents the areas where the Northeast Corridor would be constructed, including North Miami, Aventura, and Little Haiti. She has been a consistent advocate for the Northeast Corridor and has previously requested $454 million in funds from the federal government for the Northeast Corridor Rapid Transit Project. She was also one of five cosponsors of the Bipartisan Infrastructure Act, which helped allow this funding for the Northeast Corridor.

“We are grateful to the Biden-Harris administration and U.S. Secretary of Transportation Pete Buttigieg for continuing to support this critical project and our SMART Program to offer more affordable transportation options to our community,” said Miami-Dade Mayor Daniella Levine Cava. “The Northeast Corridor and its local commuter rail service will help reduce traffic and give many residents, especially in underserved areas, more options to access jobs, education and opportunities. This service will be a gamechanger for those who need it most as we continue building the future of transit in Miami-Dade.”

Next, the project will need a second rating from the Federal Transit Administration, considering factors such as mobility improvements, land use, and environmental benefits. Miami-Dade Transportation and Public Works already scored well enough on the first review to move into the Engineering phase and grant preliminary approval for a Capital Investment Grant. If they receive a strong score again and complete all engineering work, they’ll be able to secure a Full Funding Grant Agreement (FFGA) with the Federal Transit Administration. This agreement would commit the Federal Transit Administration to provide $389.3 million for the project, pending the availability of funding through annual appropriations, as this transit program relies on the General Fund instead of guaranteed Highway Trust Fund dollars.

No congressional approval is needed on a project-specific level, but Congress will have to approve funds for all Capital Investment Grants projects as part of the annual Congressional appropriations process to ensure the funds for this project.

“The Federal Transit Administration’s $389 million investment in Miami-Dade’s Northeast Corridor is a monumental step forward in our efforts to create a modern, connected transit system that serves our residents and visitors,” said Miami-Dade County Commissioner Eileen Higgins. “This funding is a testament to our community’s vision and the commitment from leaders like Congresswoman Federica Wilson to make that vision a reality. With stops in places like Wynwood, Little Haiti, and at the FIU Biscayne Bay campus, expanding and improving our transit options means less traffic congestion, a cleaner environment, and enhanced access to jobs, healthcare, and educational opportunities for thousands. I am proud to advocate for this vital project alongside our congressional partners and look forward to the progress that will transform how we move across Miami-Dade.”

Miami-Dade County Commissioner Eileen Higgins, who represents the area where the Northeast Corridor would be constructed, has traveled numerous times between Miami-Dade and Washington, D.C., to advocate for this funding.

Miami-Dade County Commission Chairman Oliver Gilbert said, “This announcement by the FTA marks a commitment to a more accessible, resilient, and inclusive Miami-Dade County. Whether it’s jobs, housing, or educational opportunities, the federal support for the Northeast Corridor will bring transformative change and make it easier for people to connect with what matters most in their lives.”

Cathy Dos Santos, Executive Director of Transit Alliance Miami, said, “In August of 2024, 80% of Miami-Dade voters gave our elected officials a mandate to expand mass rapid transit, the Northeast Corridor delivers. This rail project is a giant step towards a robust, competitive transit network that secures the economic well-being of Miami-Dade. For our workers and families, this commuter rail will be a completely new way of moving that’s safe, fast, affordable, and enjoyable, compared to the traffic nightmare of the I-95. We commend Congresswoman Frederica Wilson and Commissioner Higgins for fighting to secure this funding and Miami-Dade’s future!”

For the approval letter from the Federal Transit Administration, click here.

For the details on the Federal Transit Administration’s announcement, click here.

The Northeast Corridor Rapid Transit Project includes 13.5 miles of commuter rail, with 7 stations, including Miami Central, Wynwood, Design District, Little Haiti, North Miami, FIU/Biscayne, and West Aventura.

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MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Blaine’s Bulletin: The Promise of NextGen MURR

Source: United States House of Representatives – Representative Blaine Luetkemeyer (MO-03)

For so many of us, cancer isn’t just a word—it’s personal. Whether it’s touched a friend, family member, or even ourselves, cancer has left its mark on our lives and our communities. It’s a fight that impacts not only our loved ones but also our entire nation. But here in the Third District, we are leading the charge in the fight against this devastating disease. With each passing day, research and treatment options are advancing, and I’m proud to say that Missouri is at the forefront of that progress.

Over the past 15 years, I’ve been an avid supporter of funding the nuclear reactor at the University of Missouri. This isn’t just about funding a reactor; it’s about powering life-saving discoveries. The NextGen MURR project will bring a new, 20-megawatt state-of-the-art research reactor to Mizzou, expanding critical medical isotope research and production for cancer treatments. These are the technologies that make a real difference in the lives of cancer patients—technologies that come from uranium, cobalt, and rare earth elements, which are the backbone of nuclear reactors and the radiopharmaceuticals they produce. NextGEN MURR builds on the legacy of the existing MURR facility, the only U.S. producer of four essential medical isotopes used to treat liver, thyroid, pancreatic, and prostate cancers. This new reactor will allow Missouri to remain a global leader in the development of radiopharmaceuticals, strengthening our role in research that will impact healthcare nationwide.

This couldn’t have come at a more crucial moment. As the demand for critical minerals essential for lifesaving treatments is projected to surge by over 20% in the next decade—largely fueled by the increasing need for cancer therapies that rely on isotopes—NextGEN MURR is perfectly positioned to meet this challenge. Currently, MURR is already making significant contributions to healthcare, generating billions through enhanced diagnostics and treatment. With the development of NextGEN MURR, we have the potential to elevate that impact to an astounding $3 billion annually.

I began supporting the research reactor at the University of Missouri because I believed in its potential to change lives right here in the Third District. Supporting Missouri-based research has always been an easy decision for me—not just for the research dollars, but for positioning Missouri as a hub for innovation. Today, we’re seeing that vision realized as MURR leads groundbreaking work that’s saving lives and advancing cancer treatment. But this is just the beginning. As NextGEN MURR propels us into the next 15 years, driving new discoveries in nuclear research, medical treatments, and technological advancements that will directly benefit our district and our nation, its impact will extend far beyond the lab. It will create high-skilled jobs, boost our local economy, and ensuring more families in our community have access to cutting-edge treatments.

I’ll leave you with this – I can assure you that the future of the Third District is bright as we lead the nation in nuclear research and medical technology, offering real hope in the fight against cancer. Our investment today is more than just a financial commitment; it’s a promise to future generations to come.

CONTACT US: I encourage you to visit my official website or call my offices in Jefferson City (573-635-7232) or Cottleville (636-327-7055) with your questions and concerns. If you want even greater access to what I am working on, please visit my YouTube site, Facebook page, and keep up-to-date with Twitter and Instagram.

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MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Wittman Hosts Veterans Seminar in Midlothian
Source: United States House of Representatives – Congressman Rob Wittman (VA-01)

MIDLOTHIAN, Va. – Congressman Rob Wittman (VA-01) today hosted a community seminar at American Legion Post 354 in Midlothian to convene veterans, their families, support organizations, and community members to provide resources and discuss the challenges faced by the veterans community in Virginia’s First District. The seminar was a follow-up to a similar event the congressman hosted in Mechanicsville earlier this month.

Watch the livestream here.

“Our veterans made great sacrifices for us on the battlefield, and we owe them a debt of gratitude for that service,” said Rep. Wittman. “These heroes and their families deserve access to the highest level of care, employment and educational opportunities, and support from their community. Our veterans have earned their benefits through sacrifice, service, and hardship, and I believe they should receive the most efficient delivery of benefits possible. I remain committed to protecting these hard-earned benefits for our nation’s heroes.”

The congressman was joined by Harry Schein, veterans service representative at the Virginia Department of Veterans Services, and Bill Barksdale, assistant director of the U.S. Department of Veteran Affairs’ Roanoke Regional Office.

Virginia’s First District is home to many veterans, with over 700,000 veterans residing in the Commonwealth of Virginia. Throughout his time in Congress, Rep. Wittman has reintroduced multiple pieces of legislation that would remove administrative roadblocks to U.S. Department of Veterans Affairs (VA) services and to bring accountability to the VA by increasing transparency:
- Voted for the PACT Act
  - Expands VA health care to veterans exposed to toxic burn pits during their military service.
  - Extends the period of time post-9/11 combat veterans have to enroll in VA health care from five to 10 years post-discharge.
  - Requires veterans enrolled in VA health care to be screened regularly for toxic exposure related concerns.
  - Invests in VA health care facilities by authorizing 31 major medical health clinics and research facilities in 19 states.
  - Requires VA to conduct outreach to any veteran who had previously filed a claim for benefits related to toxic exposure and was denied ensuring they are aware of the opportunity to refile.
- Cosponsored the Senator Elizabeth Dole 21st Century Veterans Healthcare and Benefits Improvement Act
  - Improves the delivery of healthcare, benefits, and services at the VA for veterans, their families, and their survivors.
  - Expands economic opportunity, modernizes the disability claims process, improves elder care, and expands mental health support.
- Cosponsored the Not Just a Number Act
  Directs the VA to study which programs work best to stop suicide and expand upon them.
  
  Enhances accuracy of data, timely reporting of veteran suicides, and improves prevention efforts through better service delivery and the proposal of new administrative structures.
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MIL OSI USA News –
January 25, 2025
MIL-OSI USA: Watch How Students Help NASA Grow Plants in Space: Growing Beyond Earth

Source: NASA

2 min read

Since 2015, students from across the USA have been partnering with scientists at NASA to advance research on growing plants in space, ultimately to feed astronauts on long-distance space missions, as part of Fairchild Tropical Botanic Garden’s Growing Beyond Earth project, which is now in its 9th year. This classroom-based citizen science project for 6th-12th grade students includes a series of plant experiments conducted by students in a Fairchild-designed plant habitat similar to the Vegetable Production System (VEGGIE) on the International Space Station.

This year, 8000+ students from 400+ schools are testing new edible plant varieties, studying radiation effects on growth, exploring the perfect light spectrum for super-sized space radishes, and experimenting with cosmic soil alternatives.

Watch these South Florida students show us how it’s done.

[embedded content]

NASA citizen science projects are open to everyone around the world, not limited to U.S. citizens or residents. They are collaborations between scientists and interested members of the public. Through these collaborations, volunteers (known as citizen scientists) have helped make thousands of important scientific discoveries. More than 450 NASA citizen scientists have been named as co-authors on refereed scientific publications. Explore opportunities for you to get involved and do NASA science: https://science.nasa.gov/citizen-science/

The Growing Beyond Earth project is supported by NASA under cooperative agreement award number 80NSSC22MO125 and is part of NASA’s Science Activation Portfolio. Learn more about how Science Activation connects NASA science experts, real content, and experiences with community leaders to do science in ways that activate minds and promote deeper understanding of our world and beyond: https://science.nasa.gov/learn

Credit: Niki Jose

MIL OSI USA News –

January 25, 2025

MIL-OSI: NorthEast Community Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2024

Source: GlobeNewswire (MIL-OSI)

WHITE PLAINS, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of $12.7 million, or $0.97 per basic share and $0.95 per diluted share, for the three months ended September 30, 2024 compared to net income of $11.8 million, or $0.80 per basic and diluted share, for the three months ended September 30, 2023. In addition, the Company generated net income of $36.9 million, or $2.81 per basic share and $2.78 per diluted share, for the nine months ended September 30, 2024 compared to net income of $34.2 million, or $2.42 per basic share and $2.41 per diluted share, for the nine months ended September 30, 2023.

Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report another quarter of strong earnings due to the strong performance of our loan portfolio. Despite the challenging high interest rate environment during 2023 that continued into most of 2024, offset by a reduction in interest rates towards the end of the third quarter of 2024, loan demand remained strong with originations and outstanding commitments remaining robust. As has been in the past, construction lending in high demand-high absorption areas continues to be our focus.”

Highlights for the three months and nine months ended September 30, 2024 are as follows:

Performance metrics continue to be strong with a return on average total assets ratio of 2.62%, a return on average shareholders’ equity ratio of 16.48%, and an efficiency ratio of 36.04% for the three months ended September 30, 2024. For the nine months ended September 30, 2024, the Company generated a return on average total assets ratio of 2.61%, a return on average shareholders’ equity ratio of 16.55%, and an efficiency ratio of 36.37%.
Net interest income increased by $1.2 million and $5.5 million, or 4.6% and 7.7%, respectively, for the three months and nine months ended September 30, 2024 compared to the same periods in 2023.
Our commitments, loans-in-process, and standby letters of credit outstanding totaled $659.0 million at September 30, 2024 compared to $719.6 million at December 31, 2023.

Balance Sheet Summary

Total assets increased $203.8 million, or 11.6%, to $2.0 billion at September 30, 2024, from $1.8 billion at December 31, 2023. The increase in assets was primarily due to an increase in net loans of $173.6 million and an increase in cash and cash equivalents of $29.1 million.

Cash and cash equivalents increased $29.1 million, or 42.4%, to $97.8 million at September 30, 2024 from $68.7 million at December 31, 2023. The increase in cash and cash equivalents was a result of an increase in deposits of $228.0 million, partially offset by a decrease in borrowings of $57.0 million, an increase of $173.6 million in net loans, and stock repurchases of $2.4 million.

Equity securities increased $2.4 million, or 13.5%, to $20.5 million at September 30, 2024 from $18.1 million at December 31, 2023. The increase in equity securities was attributable to the purchase of $2.0 million in equity securities during the third quarter of 2024 and market appreciation of $445,000 due to market interest rate volatility during the nine months ended September 30, 2024.

Securities held-to-maturity decreased $799,000, or 5.0%, to $15.1 million at September 30, 2024 from $15.9 million at December 31, 2023 due to $810,000 in maturities and pay-downs of various investment securities, partially offset by a decrease of $10,000 in the allowance for credit losses for held-to-maturity securities.

Loans, net of the allowance for credit losses, increased $173.6 million, or 11.0%, to $1.8 billion at September 30, 2024 from $1.6 billion at December 31, 2023. The increase in loans, net of the allowance for credit losses, was primarily due to loan originations of $569.2 million during the nine months ended September 30, 2024, consisting primarily of $499.7 million in construction loans with respect to which approximately 34.1% of the funds were disbursed at loan closings, with the remaining funds to be disbursed over the terms of the construction loans. In addition, during the nine months ended September 30, 2024, we originated $44.7 million in commercial and industrial loans, $14.0 million in non-residential loans, $4.2 million in multi-family loans, and $600,000 in mixed-use loans.

Loan originations during the nine months ended September 30, 2024 resulted in a net increase of $148.8 million in construction loans, $14.4 million in commercial and industrial loans, $9.2 million in non-residential loans, $3.6 million in multi-family loans, and $788,000 in consumer loans. The increase in our loan portfolio was partially offset by decreases of $1.7 million in residential loans and $1.2 million in mixed-use loans, coupled with normal pay-downs and principal reductions.

The allowance for credit losses related to loans decreased to $4.8 million as of September 30, 2024 from $5.1 million as of December 31, 2023. The decrease in the allowance for credit losses related to loans was due to a credit to the provision for credit losses totaling $145,000 and charge-offs of $115,000.

Premises and equipment decreased $507,000, or 2.0%, to $24.9 million at September 30, 2024 from $25.5 million at December 31, 2023 primarily due to the depreciation of fixed assets.

Investments in Federal Home Loan Bank stock decreased $217,000, or 23.4%, to $712,000 at September 30, 2024 from $929,000 at December 31, 2023. The decrease was due primarily to the mandatory redemption of Federal Home Loan Bank stock totaling $315,000 in connection with the maturity of $7.0 million in advances in 2024, offset by purchases of Federal Home Loan Bank stock totaling $98,000 due to the growth of our mortgage loan portfolio.

Bank owned life insurance (“BOLI”) increased $486,000, or 1.9%, to $25.6 million at September 30, 2024 from $25.1 million at December 31, 2023 due to increases in the BOLI cash value.

Accrued interest receivable increased $1.2 million, or 9.4%, to $13.5 million at September 30, 2024 from $12.3 million at December 31, 2023 due to an increase in the loan portfolio.

Real estate owned decreased $478,000, or 32.8%, to $978,000 at September 30, 2024 from $1.5 million at December 31, 2023 due to a charge-off of $478,000 resulting from a decrease in the estimated fair value of the foreclosed property.

Right of use assets — operating decreased $422,000, or 9.2%, to $4.1 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

Other assets decreased $548,000, or 6.8%, to $7.5 million at September 30, 2024 from $8.0 million at December 31, 2023 due to decreases in tax assets of $671,000, prepaid expenses of $56,000, miscellaneous assets of $4,000, and securities receivables of $1,000, partially offset by increase in suspense accounts of $184,000.

Total deposits increased $228.0 million, or 16.3%, to $1.6 billion at September 30, 2024 from $1.4 billion at December 31, 2023. The increase in deposits was primarily due to the Bank offering competitive interest rates to attract deposits. This resulted in a shift in deposits whereby certificates of deposit increased $230.5 million, or 30.3%, and NOW/money market accounts increased $83.5 million, or 57.4%, partially offset by decreases in savings account balances of $53.4 million, or 27.7%, and non-interest bearing demand deposits of $32.6 million, or 10.9%.

Federal Home Loan Bank advances decreased $7.0 million, or 50.0%, to $7.0 million at September 30, 2024 from $14.0 million at December 31, 2023 due to the maturity of borrowings in 2024. Federal Reserve Bank borrowings of $50.0 million at December 31, 2023 were paid-off during the nine months ended September 30, 2024.

Advance payments by borrowers for taxes and insurance increased $442,000, or 21.9%, to $2.5 million at September 30, 2024 from $2.0 million at December 31, 2023 due primarily to accumulation of real estate tax payments by borrowers.

Lease liability – operating decreased $384,000, or 8.3%, to $4.2 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

Accounts payable and accrued expenses increased $2.4 million, or 17.8%, to $16.0 million at September 30, 2024 from $13.6 million at December 31, 2023 due primarily to increases in dividends payable of $3.2 million and deferred compensation of $395,000, partially offset by a decrease in accrued expense of $810,000. The allowance for credit losses for off-balance sheet commitments decreased $130,000, or 12.5%, to $908,000 at September 30, 2024 from $1.0 million at December 31, 2023.

Stockholders’ equity increased $30.3 million, or 10.8% to $309.6 million at September 30, 2024, from $279.3 million at December 31, 2023. The increase in stockholders’ equity was due to net income of $36.9 million for the nine months ended September 30, 2024, the amortization expense of $1.4 million relating to restricted stock and stock options granted under the Company’s 2022 Equity Incentive Plan, a reduction of $652,000 in unearned employee stock ownership plan shares coupled with an increase of $532,000 in earned employee stock ownership plan shares, an exercise of stock options totaling $14,000, and $10,000 in other comprehensive income, partially offset by stock repurchases totaling $2.5 million and dividends paid and declared of $6.7 million.

Results of Operations for the Three Months Ended September 30, 2024 and 2023

Net Interest Income

Net interest income was $26.3 million for the three months ended September 30, 2024, as compared to $25.1 million for the three months ended September 30, 2023. The increase in net interest income of $1.2 million, or 4.6%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

The increase in interest income is attributable to increases in the average balances of loans, interest-bearing deposits, and investment securities, partially offset by a decrease in the average balances of FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases in 2023 that continued until September 2024.

The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the three months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to an increase in the average balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the average balances on our savings and club deposits.

Total interest and dividend income increased $6.0 million, or 17.2%, to $41.2 million for the three months ended September 30, 2024 from $35.1 million for the three months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $282.6 million, or 18.0%, to $1.9 billion for the three months ended September 30, 2024 from $1.6 billion for the three months ended September 30, 2023, partially offset by a decrease in the yield on interest earning assets by 6 basis points from 8.95% for the three months ended September 30, 2023 to 8.89% for the three months ended September 30, 2024.

Interest expense increased $4.9 million, or 48.9%, to $14.9 million for the three months ended September 30, 2024 from $10.0 million for the three months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 59 basis points from 3.86% for the three months ended September 30, 2023 to 4.45% for the three months ended September 30, 2024 and an increase in average interest bearing liabilities of $301.8 million, or 29.1%, to $1.3 billion for the three months ended September 30, 2024 from $1.0 billion for the three months ended September 30, 2023.

Our net interest margin decreased 72 basis points, or 11.3%, to 5.68% for the three months ended September 30, 2024 compared to 6.40% for the three months ended September 30, 2023. The decrease in the net interest margin was due to the increase in the cost of interest-bearing liabilities outpacing the increase in the yield on interest-earning assets.

Credit Loss Expense

The Company recorded a provision for credit loss of $105,000 for the three months ended September 30, 2024 compared to a provision for credit loss of $156,000 for the three months ended September 30, 2023. The credit loss expense of $105,000 for the three months ended September 30, 2024 was comprised of a credit loss expense for off-balance sheet commitments of $105,000 primarily attributable to an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments. The credit loss expense of $156,000 for the three months ended September 30, 2023 was comprised of credit loss for loans of $438,000, partially offset by credit loss expense reduction for off-balance sheet commitments of $278,000 and credit loss expense reduction for held-to-maturity securities of $4,000.

With respect to the allowance for credit losses for loans, we charged-off $82,000 during the three months ended September 30, 2024 as compared to charge-offs of $71,000 during the three months ended September 30, 2023. These charge-offs during the three months ended September 30, 2024 and 2023 were against various unpaid overdrafts in our demand deposit accounts.

We recorded no recoveries from previously charged-off loans during the three months ended September 30, 2024 and 2023.

Non-Interest Income

Non-interest income for the three months ended September 30, 2024 was $1.3 million compared to non-interest income of $221,000 for the three months ended September 30, 2023. The increase of $1.1 million, or 510.4%, in total non-interest income was primarily due to increases of $977,000 in unrealized gain on equity securities, $225,000 in other loan fees and service charges, $26,000 in miscellaneous other non-interest income, and $14,000 in BOLI income, partially offset by a decrease of $114,000 in investment advisory fees.

The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 compared to an unrealized loss of $430,000 on equity securities during the three months ended September 30, 2023. The unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 was due to market interest rate volatility during the quarter ended September 30, 2024.

The increase of $225,000 in other loan fees and service charges was due to an increase of $210,000 in other loan fees and loan servicing fees and an increase of $15,000 in ATM/debit card/ACH fees.

The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

Non-Interest Expense

Non-interest expense increased $1.0 million, or 11.7%, to $10.0 million for the three months ended September 30, 2024 from $8.9 million for the three months ended September 30, 2023. The increase resulted primarily from increases of $477,000 in real estate owned expense, $435,000 in salaries and employee benefits, $119,000 in occupancy expense, and $112,000 in outside data processing expense, partially offset by decreases of $53,000 in equipment expense, $39,000 in other operating expense, and $5,000 in advertising expense.

Income Taxes

We recorded income tax expense of $4.9 million and $4.4 million for the three months ended September 30, 2024 and 2023, respectively. For the three months ended September 30, 2024, we had approximately $203,000 in tax exempt income, compared to approximately $187,000 in tax exempt income for the three months ended September 30, 2023. Our effective income tax rates were 27.8% and 27.3% for the three months ended September 30, 2024 and 2023, respectively.

Results of Operations for the Nine Months Ended September 30, 2024 and 2023

Net Interest Income

Net interest income was $77.5 million for the nine months ended September 30, 2024 as compared to $72.0 million for the nine months ended September 30, 2023. The increase in net interest income of $5.5 million, or 7.7%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

The increase in interest income is attributable to increases in loans and interest-bearing deposits, partially offset by decreases in investment securities and FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases during 2023 that continued until September 2024.

The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the nine months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to increases in the balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the balances of our savings and club deposits.

Total interest and dividend income increased $24.2 million, or 25.4%, to $119.5 million for the nine months ended September 30, 2024 from $95.4 million for the nine months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $332.7 million, or 22.7%, to $1.8 billion for the nine months ended September 30, 2024 from $1.5 billion for the nine months ended September 30, 2023 and an increase in the yield on interest earning assets by 19 basis points from 8.66% for the nine months ended September 30, 2023 to 8.85% for the nine months ended September 30, 2024.

Interest expense increased $18.7 million, or 79.9%, to $42.0 million for the nine months ended September 30, 2024 from $23.4 million for the nine months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 101 basis points from 3.35% for the nine months ended September 30, 2023 to 4.36% for the nine months ended September 30, 2024, and an increase in average interest bearing liabilities of $355.6 million, or 38.2%, to $1.3 billion for the nine months ended September 30, 2024 from $931.5 million for the nine months ended September 30, 2023.

Net interest margin decreased 80 basis points, or 12.2%, for the nine months ended September 30, 2024 to 5.74% compared to 6.54% for the nine months ended September 30, 2023.

Credit Loss Expense

The Company recorded a credit loss expense reduction totaling $286,000 for the nine months ended September 30, 2024 compared to a credit loss expense totaling $767,000 for the nine months ended September 30, 2023. The credit loss expense reduction of $286,000 for the nine months ended September 30, 2024 was comprised of a credit loss expense reduction for loans of $145,000, a credit loss expense reduction for off-balance sheet commitments of $130,000, and a credit loss expense reduction for held-to-maturity investment securities of $11,000. The credit loss expense reduction for loans of $145,000 for the nine months ended September 30, 2024 was primarily attributed to favorable trends in the economy. The credit loss expense reduction for off-balance sheet commitments of $130,000 for the nine months ended September 30, 2024 was primarily attributed to a reduction of $69.1 million in the level of off-balance sheet commitments, partially offset by an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments during the quarter ended September 30, 2024.

The credit loss expense of $767,000 for the nine months ended September 30, 2023 was comprised of credit loss expense for loans of $1.2 million, partially offset by a credit loss expense reduction for off-balance sheet commitments of $395,000 and credit loss expense reduction for held-to-maturity investment securities of $1,000.

We charged-off $115,000 during the nine months ended September 30, 2024 as compared to charge-offs of $285,000 during the nine months ended September 30, 2023. The charge-offs of $115,000 during the nine months ended September 30, 2024 were against various unpaid overdrafts in our demand deposit accounts. The charge-offs of $285,000 during the nine months ended September 30, 2023 were comprised of a charge-off of $159,000 related to three performing construction loans on the same project whereby we sold the loans to a third-party subsequent to June 30, 2023 at a loss of $159,000. The remaining charge-offs of $126,000 for the 2023 period were against various unpaid overdrafts in our demand deposit accounts.

We recorded no recoveries from previously charged-off loans during the nine months ended September 30, 2024 and 2023.

Non-Interest Income

Non-interest income for the nine months ended September 30, 2024 was $2.6 million compared to non-interest income of $2.4 million for the nine months ended September 30, 2023. The increase of $277,000, or 11.8%, in total non-interest income was primarily due to increases of $772,000 in unrealized gains on equity securities, $196,000 in other loan fees and service charges, and $23,000 in miscellaneous other non-interest income, offset by decreases of $371,000 in BOLI income and $343,000 in investment advisory fees.

The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $445,000 on equity securities during the nine months ended September 30, 2024 compared to an unrealized loss of $327,000 on equity securities during the nine months ended September 30, 2023. The unrealized gain of $445,000 on equity securities during the 2024 period was due to market interest rate volatility during the nine months ended September 30, 2024.

The increase of $196,000 in other loan fees and service charges was due to increases of $164,000 in other loan fees and loan servicing fees, $27,000 in ATM/debit card/ACH fees, and $5,000 in savings account fees.

The decrease in BOLI income was primarily due to two death claims totaling $1.8 million on BOLI policies that resulted in additional BOLI income of $404,000 in the nine months ended September 30, 2023. The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

Non-Interest Expense

Non-interest expense increased $3.2 million, or 12.1%, to $29.1 million for the nine months ended September 30, 2024 from $26.0 million for the nine months ended September 30, 2023. The increase resulted primarily from increases of $1.7 million in salaries and employee benefits, $800,000 in other operating expense, $475,000 in real estate owned expense, $286,000 in outside data processing expense, and $226,000 in occupancy expense, partially offset by decreases of $183,000 in equipment expense and $110,000 in advertising expense.

Income Taxes

We recorded income tax expense of $14.4 million and $13.4 million for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, we had approximately $597,000 in tax exempt income, compared to approximately $956,000 in tax exempt income for the nine months ended September 30, 2023. The decrease in tax exempt income was due to two death claims totaling $1.8 million on BOLI policies during the nine months ended September 30, 2023. Our effective income tax rates were 28.1% and 28.2% for the nine months ended September 30, 2024 and 2023, respectively.

Asset Quality

Non-performing assets were $5.4 million at September 30, 2024 compared to $5.8 million at December 31, 2023. At September 30, 2024 and December 31, 2023, we had two non-performing construction loans totaling $4.4 million secured by the same project located in the Bronx, New York. We successfully foreclosed on these two loans on October 21, 2024 and the balances were transferred to foreclosed real estate. The other non-performing assets consisted of one foreclosed property at September 30, 2024 and December 31, 2023. Our ratio of non-performing assets to total assets remained low at 0.27% at September 30, 2024 as compared to 0.33% at December 31, 2023.

The Company’s allowance for credit losses related to loans was $4.8 million, or 0.27% of total loans as of September 30, 2024, compared to $5.1 million, or 0.32% of total loans, as of December 31, 2023. Based on a review of the loans that were in the loan portfolio at September 30, 2024, management believes that the allowance for credit losses related to loans is maintained at a level that represents its best estimate of inherent losses in the loan portfolio that were both probable and reasonably estimable.

In addition, at September 30, 2024, the Company’s allowance for credit losses related to off-balance sheet commitments totaled $908,000 and the allowance for credit losses related to held-to-maturity debt securities totaled $126,000.

Capital

The Company’s total stockholders’ equity to assets ratio was 15.73% as of September 30, 2024. At September 30, 2024, the Company had the ability to borrow $832.1 million from the Federal Reserve Bank of New York, $14.8 million from the Federal Home Loan Bank of New York and $8.0 million from Atlantic Community Bankers Bank.

The Bank’s capital position remains strong relative to current regulatory requirements and the Bank is considered a well-capitalized institution under the Prompt Corrective Action framework. As of September 30, 2024, the Bank had a tier 1 leverage capital ratio of 14.76% and a total risk-based capital ratio of 14.04%.

The Company completed its first stock repurchase program on April 14, 2023 whereby the Company repurchased 1,637,794 shares, or 10%, of the Company’s issued and outstanding common stock. The cost of the stock repurchase program totaled $23.0 million, including commission costs and Federal excise taxes. Of the total shares repurchased under this program, 957,275 of such shares were repurchased during 2023 at a total cost of $13.7 million, including commission costs and Federal excise taxes.

The Company commenced its second stock repurchase program on May 30, 2023 whereby the Company will repurchase 1,509,218, or 10%, of the Company’s issued and outstanding common stock. As of September 30, 2024, the Company had repurchased 1,091,174 shares of common stock under its second repurchase program, at a cost of $17.2 million, including commission costs and Federal excise taxes.

About NorthEast Community Bancorp

NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.

Forward Looking Statement

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, decreases in deposit levels necessitating increased borrowing to fund loans and securities, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACT:	Kenneth A. Martinek
	Chairman and Chief Executive Officer

PHONE:	(914) 684-2500

NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)

	September 30,			December 31,
	2024			2023
	(In thousands, except share
	and per share amounts)
ASSETS
Cash and amounts due from depository institutions	$	16,023		$	13,394
Interest-bearing deposits		81,766			55,277
Total cash and cash equivalents		97,789			68,671
Certificates of deposit		100			100
Equity securities		20,547			18,102
Securities held-to-maturity (net of allowance for credit losses of $126 and $136, respectively)		15,061			15,860
Loans receivable		1,760,504			1,586,721
Deferred loan (fees) costs, net		(245	)		176
Allowance for credit losses		(4,833	)		(5,093	)
Net loans		1,755,426			1,581,804
Premises and equipment, net		24,945			25,452
Investments in restricted stock, at cost		712			929
Bank owned life insurance		25,568			25,082
Accrued interest receivable		13,463			12,311
Real estate owned		978			1,456
Property held for investment		1,380			1,407
Right of Use Assets – Operating		4,144			4,566
Right of Use Assets – Financing		348			351
Other assets		7,496			8,044
Total assets	$	1,967,957		$	1,764,135
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	267,592		$	300,184
Interest bearing		1,360,475			1,099,852
Total deposits		1,628,067			1,400,036
Advance payments by borrowers for taxes and insurance		2,462			2,020
Borrowings		7,000			64,000
Lease Liability – Operating		4,241			4,625
Lease Liability – Financing		599			571
Accounts payable and accrued expenses		15,965			13,558
Total liabilities		1,658,334			1,484,810

Stockholders’ equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding	$	—		$	—
Common stock, $0.01 par value; 75,000,000 shares authorized; 14,020,602 shares and 14,144,856 shares outstanding, respectively		140			142
Additional paid-in capital		109,368			109,924
Unearned Employee Stock Ownership Plan (“ESOP”) shares		(5,911	)		(6,563	)
Retained earnings		205,699			175,505
Accumulated other comprehensive income		327			317
Total stockholders’ equity		309,623			279,325
Total liabilities and stockholders’ equity	$	1,967,957		$	1,764,135

NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024			2023
						(In thousands, except per share amounts)
INTEREST INCOME:
Loans	$	39,484	$	33,757		$	114,821		$	91,826
Interest-earning deposits		1,472		1,181			4,058			2,886
Securities		227		199			662			650
Total Interest Income		41,183		35,137			119,541			95,362
INTEREST EXPENSE:
Deposits		14,630		9,889			40,459			23,050
Borrowings		257		109			1,559			299
Financing lease		10		10			29			28
Total Interest Expense		14,897		10,008			42,047			23,377
Net Interest Income		26,286		25,129			77,494			71,985
Provision for (reversal of) credit loss		105		156			(286	)		767
Net Interest Income after Provision for (Reversal of) Credit Loss		26,181		24,973			77,780			71,218
NON-INTEREST INCOME:
Other loan fees and service charges		589		364			1,613			1,417
Earnings on bank owned life insurance		167		153			486			857
Investment advisory fees		–		114			–			343
Unrealized gain (loss) on equity securities		547		(430	)		445			(327	)
Other		46		20			90			67
Total Non-Interest Income		1,349		221			2,634			2,357
NON-INTEREST EXPENSES:
Salaries and employee benefits		5,135		4,700			15,738			14,079
Occupancy expense		735		616			2,116			1,890
Equipment		187		240			661			844
Outside data processing		681		569			1,924			1,638
Advertising		128		133			310			420
Real estate owned expense		488		11			527			52
Other		2,607		2,646			7,864			7,064
Total Non-Interest Expenses		9,961		8,915			29,140			25,987
INCOME BEFORE PROVISION FOR INCOME TAXES		17,569		16,279			51,274			47,588
PROVISION FOR INCOME TAXES		4,883		4,436			14,416			13,413
NET INCOME	$	12,686	$	11,843		$	36,858		$	34,175

NORTHEAST COMMUNITY BANCORP, INC.
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(In thousands, except per share amounts)						(In thousands, except per share amounts)
Per share data:
Earnings per share – basic	$	0.97		$	0.80		$	2.81		$	2.42
Earnings per share – diluted		0.95			0.80			2.78			2.41
Weighted average shares outstanding – basic		13,075			14,743			13,108			14,143
Weighted average shares outstanding – diluted		13,417			14,822			13,279			14,192
Performance ratios/data:
Return on average total assets		2.62	%		2.87	%		2.61	%		2.95	%
Return on average shareholders’ equity		16.48	%		17.26	%		16.55	%		16.95	%
Net interest income	$	26,286		$	25,129		$	77,494		$	71,985
Net interest margin		5.68	%		6.40	%		5.74	%		6.54	%
Efficiency ratio		36.04	%		35.17	%		36.37	%		34.96	%
Net charge-off ratio		0.02	%		0.02	%		0.01	%		0.03	%

Loan portfolio composition:								September 30, 2024			December 31, 2023
One-to-four family							$	3,507		$	5,252
Multi-family								202,516			198,927
Mixed-use								28,399			29,643
Total residential real estate								234,422			233,822
Non-residential real estate								30,312			21,130
Construction								1,368,222			1,219,413
Commercial and industrial								125,520			111,116
Consumer								2,028			1,240
Gross loans								1,760,504			1,586,721
Deferred loan (fees) costs, net								(245	)		176
Total loans							$	1,760,259		$	1,586,897
Asset quality data:
Loans past due over 90 days and still accruing							$	–		$	–
Non-accrual loans								4,413			4,385
OREO property								978			1,456
Total non-performing assets							$	5,391		$	5,841

Allowance for credit losses to total loans								0.27	%		0.32	%
Allowance for credit losses to non-performing loans								109.52	%		116.15	%
Non-performing loans to total loans								0.25	%		0.28	%
Non-performing assets to total assets								0.27	%		0.33	%

Bank’s Regulatory Capital ratios:
Total capital to risk-weighted assets								14.04	%		14.11	%
Common equity tier 1 capital to risk-weighted assets								13.76	%		13.78	%
Tier 1 capital to risk-weighted assets								13.76	%		13.78	%
Tier 1 leverage ratio								14.76	%		16.21	%

NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)

	Three Months Ended September 30, 2024								Three Months Ended September 30, 2023
	Average			Interest		Average			Average			Interest		Average
	Balance			and dividend		Yield			Balance			and dividend		Yield
	(In thousands, except yield/cost information)								(In thousands, except yield/cost information)
Loan receivable gross	$	1,717,875		$	39,484		9.19	%	$	1,446,946		$	33,757		9.33	%
Securities		34,920			212		2.43	%		33,754			181		2.14	%
Federal Home Loan Bank stock		712			15		8.43	%		929			18		7.75	%
Other interest-earning assets		98,903			1,472		5.95	%		88,156			1,181		5.36	%
Total interest-earning assets		1,852,410			41,183		8.89	%		1,569,785			35,137		8.95	%
Allowance for credit losses		(4,914	)							(4,404	)
Non-interest-earning assets		90,313								85,133
Total assets	$	1,937,809							$	1,650,514

Interest-bearing demand deposit	$	228,975		$	2,423		4.23	%	$	78,768		$	522		2.65	%
Savings and club accounts		140,047			848		2.42	%		235,613			1,624		2.76	%
Certificates of deposit		946,290			11,359		4.80	%		707,142			7,743		4.38	%
Total interest-bearing deposits		1,315,312			14,630		4.45	%		1,021,523			9,889		3.87	%
Borrowed money		23,603			267		4.52	%		15,631			119		3.05	%
Total interest-bearing liabilities		1,338,915			14,897		4.45	%		1,037,154			10,008		3.86	%
Non-interest-bearing demand deposit		271,207								322,213
Other non-interest-bearing liabilities		19,758								16,694
Total liabilities		1,629,880								1,376,061
Equity		307,929								274,453
Total liabilities and equity	$	1,937,809							$	1,650,514

Net interest income / interest spread				$	26,286		4.44	%				$	25,129		5.09	%
Net interest rate margin							5.68	%							6.40	%
Net interest earning assets	$	513,495							$	532,631
Average interest-earning assets
to interest-bearing liabilities		138.35	%							151.36	%

NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)

	Nine Months Ended September 30, 2024								Nine Months Ended September 30, 2023
	Average			Interest		Average			Average			Interest		Average
	Balance			and dividend		Yield			Balance			and dividend		Yield
	(In thousands, except yield/cost information)								(In thousands, except yield/cost information)
Loan receivable gross	$	1,672,582		$	114,821		9.15	%	$	1,353,446		$	91,826		9.05	%
Securities		34,071			607		2.38	%		39,375			589		1.99	%
Federal Home Loan Bank stock		752			55		9.75	%		1,002			61		8.12	%
Other interest-earning assets		93,417			4,058		5.79	%		74,308			2,886		5.18	%
Total interest-earning assets		1,800,822			119,541		8.85	%		1,468,131			95,362		8.66	%
Allowance for credit losses		(4,977	)							(4,640	)
Non-interest-earning assets		90,087								83,200
Total assets	$	1,885,932							$	1,546,691

Interest-bearing demand deposit	$	202,097		$	6,300		4.16	%	$	84,920		$	1,433		2.25	%
Savings and club accounts		160,296			3,032		2.52	%		262,977			5,373		2.72	%
Certificates of deposit		880,741			31,127		4.71	%		567,378			16,244		3.82	%
Total interest-bearing deposits		1,243,134			40,459		4.34	%		915,275			23,050		3.36	%
Borrowed money		43,916			1,588		4.82	%		16,216			327		2.69	%
Total interest-bearing liabilities		1,287,050			42,047		4.36	%		931,491			23,377		3.35	%
Non-interest-bearing demand deposit		282,786								329,993
Other non-interest-bearing liabilities		19,163								16,373
Total liabilities		1,588,999								1,277,857
Equity		296,933								268,834
Total liabilities and equity	$	1,885,932							$	1,546,691

Net interest income / interest spread				$	77,494		4.49	%				$	71,985		5.31	%
Net interest rate margin							5.74	%							6.54	%
Net interest earning assets	$	513,772							$	536,640
Average interest-earning assets
to interest-bearing liabilities		139.92	%							157.61	%

The MIL Network –

January 25, 2025

MIL-OSI: Orezone Provides Notice of Q3-2024 Results and Conference Call

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone”) will announce its third quarter 2024 results on November 5, 2024, after market close. A conference call and audio webcast to discuss the results will take place on November 6, 2024, at 8:00 am PT (11:00 am ET).

Webcast

Conference Call
Toll-free in U.S. and Canada: 1-800-715-9871
International callers: +646-307-1963
Event ID: 9776163

About Orezone Gold Corporation

Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

Patrick Downey
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
info@orezone.com / www.orezone.com

For further information please contact Orezone at +1 (778) 945 8977 or visit the Company’s website at www.orezone.com.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

The MIL Network –

January 25, 2025
MIL-OSI Africa: East Africa: The Ethiopia-Kenya Electricity Highway is Shaping Regional Connectivity with the Support of the African Development Bank

Source: Africa Press Organisation – English (2) – Report:

ABIDJAN, Ivory Coast, October 28, 2024/APO Group/ —

The electricity highway between Ethiopia and Kenya, officially opened in 2023 after more than 10 years of planning and construction, is redefining energy connectivity in East Africa. It is more than a piece of infrastructure, it is an economic and environmental entity, connecting not just power grids but nations and populations.

This vision of a shared energy future runs for 1,045 km between Wolayta-Sodo in Ethiopia and Suswa in Kenya. It enables both countries to pool resources, hydroelectricity from Ethiopia, and geothermal and wind power from Kenya.

Regional Connectivity lies at the heart of the project. As John Mativo, Managing Director of the Kenya Electricity Transmission Company (Ketraco) explains, this project is all about collaboration:

“Around 2010, countries in East Africa, as an energy pool, decided that it was essential to have an interconnected hub so that everyone could use and exploit energy and support each other.”

One of the project’s critical aspects is the use of HVDC (High Voltage Direct Current) technology, which makes it much easier to transport electricity with long distance transmission lines as Tewoderos Ayalew, the site manager at Ethiopian Electric Power explains:

“The reason we are using HVDC technology is to minimize energy wastage and reduce power losses in the transmission line energy wastage and reduce the costs of constructing transmission lines; it is also easy to operate and improve grid stability in operating the interconnection from the power grids of different countries.”

Hydroelectric dams in Ethiopia produce energy in the form of alternating current, which is transported via the Ethiopian grid to the converter station in Sodo. There, it is converted to Direct Current (DC) and leaves Ethiopia for Kenya, via 1,045 km of overhead transmission line. Once it arrives at the Suswa converter station, it will be converted back to alternating current to be integrated into the Kenyan power grid.

This high voltage DC infrastructure is the only one of its kind in the region and is the foundation of East Africa’s ambition to be interconnected in terms of power exchange and allow cross-border trade in energy.

The total cost of USD 1.26 billion was funded partly by USD 338 million from the African Development Bank. The World Bank, the Agence française de développement (AFD) and the governments of the two countries concerned also contributed.

Significant economic benefits

The project has brought significant economic benefits. For Kenya, where 95 percent of electricity comes from renewable sources, the connection is increasing its competitiveness. Kipkemoi Kibias, General Manager at Ketraco, endorses the project:

“Using clean, renewable energy brings numerousadvantages not just to Kenyans, but to the whole world… it allows us to attract investors, especially in light and heavy industries, who are looking for green energy.”

The project also creates jobs. The development of business zones close to energy infrastructure, like the one near Suswa, creates thousands of jobs and boosts local economic activity. Moreover, the project includes a significant social dimension, notably involving local communities. Out of the 100 employees at the Suswa power station, 70 come from the region, offering opportunities for local development.

For Sylvia Kinaiya, an engineer from the region, the project is also a source of personal pride:

“I am Masai, so for me, it’s a way of giving back to my community,” she says. She also emphasizes that this project proves that it is possible to be both a mother and an engineer, helping to break down gender barriers in technical occupations.

Apart from its economic and social impacts, the project is a model of sustainability, allowing better integration of intermittent renewable energy sources, such as wind power and Solar, into regional networks. According to John Mativo, this infrastructure ensures that “Kenya has enough green energy to support our industrial development while maintaining a small carbon footprint.”

Kenya is already on the way to self-sufficiency in clean energy, with the aim of moving to 100 percent renewable energy by 2030. By connecting its grid to Ethiopia, Kenya can not only stabilize its energy supply but also attract more investment into green energies. This vision is also shared by investors, who see this infrastructure as a guarantee of energy and environmental security.

The Ethiopia-Kenya electricity highway is therefore much more than a simple infrastructure project; it embodies a vision of the future in which green energy becomes the driver of stronger regional cooperation and sustainable development. Thanks to this connection, East African countries can share their energy resources efficiently, while responding to the growing needs of their populations and industries.

The future is bright according to Tweoderos Ayalew:

“We have the potential not only to meet our own needs, but also to supply energy to our neighbours and beyond.”

This pioneering project is thus paving the way to shared prosperity, while putting the region on the path to a sustainable energy transition.

MIL OSI Africa –

January 25, 2025
MIL-OSI USA: Kennedy announces $3.6 million in Hurricanes Laura, Delta, Ida aid for Louisiana
US Senate News:
Source: United States Senator John Kennedy (Louisiana)

MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Appropriations Committee, announced $3,568,827 in Federal Emergency Management Agency (FEMA) grants for Louisiana disaster aid.

“Hurricanes Laura, Delta and Ida damaged many facilities across south Louisiana, including educational buildings and churches. This $3.6 million will help communities rebuild and recover from some of the high costs sustained during these storms,” said Kennedy.

The FEMA aid will fund the following:
- $1,312,778 to the Society of the Roman Catholic Church of the Diocese of Lafayette for the restoration of the St. Francis Mission Chapel due to Hurricane Laura damage.
- $1,202,044 to the Office of Risk Management to repair multiple state educational facilities, the 3rd Circuit Appeal Courthouse and surrounding buildings due to Hurricane Delta damage.
- $1,054,005 to the Greater Lafourche Port Commission for emergency protective measures during Hurricane Ida.
MIL OSI USA News –
January 25, 2025
MIL-OSI Europe: President Meloni meets González Urrutia, winner of the Sakharov Prize for Freedom of Thought

Source: Government of Italy (English)

Vai al Contenuto Raggiungi il piè di pagina

28 Ottobre 2024

The President of the Council of Ministers, Giorgia Meloni, received Edmundo González Urrutia, winner of the Sakharov Prize for Freedom of Thought, at Palazzo Chigi today.

Offering her congratulations for the recently awarded prize, President Meloni stressed that the situation in Venezuela is a priority for the Italian Government, also as current G7 Presidency, and provided assurance of support for the ongoing efforts to facilitate a democratic and peaceful transition that corresponds to the will of the Venezuelan people.

President Meloni also reiterated the call for an immediate stop to human rights violations, arbitrary detentions and restrictions on fundamental freedoms, particularly against political opponents.

MIL OSI Europe News –

January 25, 2025
MIL-OSI Canada: Regional Artificial Intelligence Initiative will support AI innovation and adoption in British Columbia

Source: Government of Canada News

PacifiCan funding of over $32 million will help businesses bring new technologies to market and adopt AI

October 28, 2024 – Burnaby, British Columbia – PacifiCan

Artificial Intelligence (AI) is a transformational opportunity for British Columbians. With a strong AI ecosystem – one that includes researchers developing technology, companies creating AI-based solutions to the world’s challenges, and adopters putting the power of AI to work in their operations – British Columbian businesses are well-positioned to leverage the power of AI to drive innovation across the province, creating jobs and economic growth.

Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced that businesses and not-for-profit organizations will be able to apply for funding from the new Regional Artificial Intelligence Initiative in British Columbia beginning November 18. In British Columbia, PacifiCan will deliver the RAII with $32.2 million, making investments that help businesses commercialize and adopt AI technologies.

To ensure that Canada stays at the forefront of innovation, the Government of Canada is making strategic investments that will help drive AI adoption across the country. This includes $200 million over five years for Canada’s regional development agencies (RDAs) to deliver the Regional Artificial Intelligence Initiative (RAII) to help businesses bring new AI technologies to market and speed up AI adoption across the country.

In British Columbia, PacifiCan will prioritize projects that not only have strong economic benefits but also bring positive outcomes for human health, the environment, and/or economic resilience and productivity across a wide range of sectors. PacifiCan will welcome project ideas from both businesses and not-for-profit organizations.

PacifiCan is investing in British Columbian businesses, workers and organizations to ensure they have access to the tools they need to succeed at home and compete in the global economy.

More information is available on PacifiCan’s web page: Regional Artificial Intelligence Initiative – Canada.ca

MIL OSI Canada News –

January 25, 2025
MIL-OSI Canada: Bonaparte First Nation celebrates completion of their new water treatment plants
Source: Government of Canada News

News release

Today, Bonaparte First Nation proudly marked the completion of two new water treatment plants, which now provide clean drinking water to remote areas of their community.

October 28, 2024 — Bonaparte First Nation, Secwépemc Territory, British Columbia — Indigenous Services Canada

Today, Bonaparte First Nation proudly marked the completion of two new water treatment plants, which now provide clean drinking water to remote areas of their community.

The newly built water treatment plants and distribution systems, located in the Lower Hat Creek area, are a significant step toward ensuring long-term, sustainable access to safe drinking water in IR#1 and IR#2 of the Bonaparte reserve. These facilities will help prevent future drinking water advisories, an issue that has affected these areas intermittently since 2004.

Indigenous Services Canada (ISC) provided $9.8 million for the feasibility studies, design and construction of the two state-of-the-art water treatment systems. In addition, Bonaparte First Nation and ISC are collaborating on further enhancements to water infrastructure in IR#3 to meet the area’s long-term water needs.

The Government of Canada will continue to prioritize working in partnership with First Nations to ensure communities have reliable access to safe and clean drinking water.

Quotes

“Today we celebrate the new water treatment plant. After two long decades of persistent water advisories, our community can breathe a sigh of relief thanks to these critical upgrades. Water is a lifeline and a fundamental right. We are grateful for this investment, it ensures the health, safety and well-being of our community and for generations to come.”

Kúkpi7 Frank Antoine
Bonaparte First Nation

“Decades of uncertainty are now behind us. I would like to thank and acknowledge the determined efforts of all our partners, advocates, current and past leaders who all worked tirelessly to ensure our community has access to clean water. These new water treatment facilities are a significant investment to our future.”

Byron Porter, Water Manager
Bonaparte First Nation

“Water is essential and too many First Nations communities still live without clean drinking water. These new water treatment plants will play a significant role in the health and well-being of members of Bonaparte First Nation. I applaud Kúkpi7 Frank Antoine and Council, as well as the people of Bonaparte First Nation, for their leadership and dedication with these projects.”

The Honourable Patty Hajdu
Minister of Indigenous Services

Quick facts
- Bonaparte First Nation is located west of Kamloops, British Columbia.
- The Band is a member of the Shuswap Nation Tribal Council of the Secwépemc (Shuswap) people.
- The community has a registered population of 1,152 members.
- The Government of Canada also invested $4.26 million in a new water system in Bonaparte First Nation IR#3 in 2020, which supported the lifting of a long-term drinking water advisory; further upgrades to the IR#3 water system are currently under discussion with the community.
- Since 2016 and as of June 30, 2024, Indigenous Services Canada has invested $4.35 billion of targeted funds to support 1,358 water and wastewater projects, of which 637 are completed. These projects will benefit 591 communities serving approximately 476,000 people.
- Since 2015, First Nations, with support from Indigenous Services Canada, have lifted 146 long-term drinking water advisories, and have prevented over 280 short-term advisories from becoming long-term.
Associated links

Contacts

For more information, media may contact:

Kukpi7 Frank Antoine
Bonaparte First Nation
250-318-0742
kukpi7@bonaparte.band

Jennifer Kozelj
Press Secretary
Office of the Honourable Patty Hajdu
Minister of Indigenous Services and Minister responsible for FedNor
jennifer.kozelj@sac-isc.gc.ca

ISC Media Relations
819-953-1160
media@sac-isc.gc.ca

Stay connected

Join the conversation about Indigenous Peoples in Canada:

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You can subscribe to receive our news releases and speeches via RSS feeds. For more information or to subscribe, www.isc.gc.ca/RSS.

MIL OSI Canada News –
January 25, 2025

MIL-OSI USA: CFTC Commissioner Pham Announces Global Markets Advisory Committee will Meet November 21

Source: US Commodity Futures Trading Commission

WASHINGTON, D.C. — CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee, announced the GMAC will hold a virtual public meeting Thursday, Nov. 21, from 9:30 a.m. to 10:30 a.m. EST. The meeting will be open to the public via live webcast or listen-only audio feed via telephone.

“The GMAC is continuing to meaningfully address innovations in market structure through pragmatic recommendations for applying existing regulatory frameworks to new and emerging technology,” Commissioner Pham said. “I look forward to the presentations on tokenized collateral to improve operational efficiency and mitigate risks, and development of regulatory approaches to utility tokens.”

At this meeting, the GMAC will hear a presentation by the Tokenized Collateral workstream of the GMAC’s Digital Asset Markets Subcommittee on expanding use of non-cash collateral through use of distributed ledger technology and consider a recommendation from the Subcommittee. The meeting will also include a presentation by the Utility Tokens workstream of the Digital Asset Markets Subcommittee summarizing their work to-date on defining utility tokens and developing guidance for market participants.

A detailed agenda is available here.

Under Commissioner Pham’s sponsorship, the GMAC has advanced 13 recommendations in less than a year, and continues making progress on developing solutions to the most significant challenges in global markets as set forth in its 2023-2025 work program. Learn more about the GMAC and its work here.

Meeting Details

What:

Global Markets Advisory Committee Meeting

Location (virtual):

The meeting will take place virtually. Viewing instructions below

When:

Thursday, November 21, 2024

9:30 a.m. – 10:30 a.m. (EST)

Viewing/Listening Instructions: View a live webcast on CFTC.gov or through the CFTC’s YouTube channel. Use the numbers below to call in. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting will be made available on CFTC.gov.

Participation Details
Domestic Toll-Free: Domestic Toll:	+1 833 568 8864 or +1 833 435 1820 +1 669 254 5252 or +1 646 828 7666 or +1 551 285 1373 or +1 669 216 1590 or (U.S. Spanish Lines) +1 415 449 4000 or +1 646 964 1167
Webinar ID:	161 533 1062 Passcode: 990545
International Numbers:	International Numbers

Additional information is available in the Federal Register.

About the GMAC and Advisory Committees

The GMAC was created to advise the Commission on issues that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business, including the regulatory challenges of a global marketplace that reflects the increasing interconnectedness of markets and the multinational nature of business. The GMAC also makes recommendations regarding international standards for regulating futures, swaps, options, and derivatives markets, as well as intermediaries. In June 2023, Commissioner Pham announced the leadership and membership of the GMAC and its subcommittees—the largest-ever single advisory committee initiative sponsored by the CFTC. Members include financial market infrastructures, market participants, end-users, service providers, and regulators. Harry Jung is the GMAC Designated Federal Officer, and Nicholas Elliot is the GMAC Alternate Designated Federal Officer.

There are five active Advisory Committees overseen by the CFTC. They were created to provide advice and recommendations to the Commission on a variety of regulatory and market issues that affect the integrity and competitiveness of U.S. markets. These committees facilitate communication between the Commission and market participants, other regulators, and academics. The views, opinions, and information expressed by the Advisory Committees are solely those of the respective Advisory Committee and do not necessarily reflect the views of the Commission, its staff, or the U.S. government.

MIL OSI USA News –

January 25, 2025

MIL-OSI USA: UConn Researchers Working to Extinguish ‘Inflammatory Fire’ Stroke Causes in the Brain

Source: US State of Connecticut

It’s been more than three decades, but still there are only two treatments for a stroke: either rapid use of a clot-busting medication called tPA or surgical removal of a clot from the brain with mechanical thrombectomy. However, only 5% to 13% percent of stroke cases are actually eligible for these interventions.

In his research laboratory at UConn School of Medicine, Rajkumar Verma Ph.D., of the Department of Neuroscience and the Pat and Jim Calhoun Cardiology Center at UConn Health (Tina Encarnacion/UConn Health photo).

“We need to be persistent with our research to find a new therapy for stroke,” says Rajkumar Verma, M.Pharm., Ph.D., assistant professor, Department of Neuroscience at UConn School of Medicine working in cross-campus collaboration with Professor Raman Bahal Ph.D. of the Deparment of Pharmaceutical Sciences in the UConn School of Pharmacy. “Stroke research is hard and challenging to do. But without trying we won’t make progress. We need to keep trying. UConn is determined to keep trying.”

In addition to being life-threatening, stroke is the major cause of long-term disability worldwide.

“When a stroke strikes a patient, we don’t have any treatment to offer to effectively repair the brain’s damage. Once brain cells and tissue are damaged by a stroke, nothing can help restore the damage. In essence, the cascading inflammation caused by a stroke in the brain is like a fire in a house. We need to find a way to stop stroke’s fire,” says Verma.

Verma and his multidisciplinary research team believe they have found a new innovative therapy to try to stop a stroke’s “fire” or inflammation. This October they reported their new findings in the journal Molecular Therapy: Nucleic Acid.

To try to more effectively control a stroke’s damage and turn back time, UConn researchers are leveraging the power of micro-RNA (MiRNA), small molecules that regulate protein expression inside cells as they are able to control multiple proteins at a time.

“MiRNAs are small RNA molecules that help cells to regulate multiple gene and protein expression,” says Verma. “UConn researchers discovered that during a stroke these MiRNA get dysregulated, thus leading to brain damage by multiple unchecked proteins. Also, our laboratory research has confirmed the presence of increased levels of one such MiRNA, known as miRNA-141-3p, in blood samples of stroke patients.”

Novel gamma PNA based miRNA-141-3p inhibitors (syPNA-141) reduced brain damage (image on right with less atrophy) after stroke in mouse model of ischemic stroke. (Courtesy of Verma laboratory image).

Verma adds, “We are thrilled to report that we have successfully tested a novel MiRNA-141-3p inhibitor synthesized in our collaborator Dr. Bahal’s lab with the ability to reduce stroke damage and extinguish spreading inflammatory fire in the brain. In mouse models, we have seen swift restoration of once-lost motor function and memory. Also, we see a decrease in brain injury and enhanced expression of neuroprotective genes and growth factors fueling the brain’s recovery from stroke.”

The new promising therapeutic modality developed to inhibit stroke is called anti-miR-141-3p. UConn’s medical school is currently working to commercialize the discovery and take it toward clinical trial testing as a future treatment option for stroke.

Verma says UConn’s research findings once again showcase the powerful tool of miRNA and the promise of their newly developed miRNA inhibitor’s ability to stop the overexpression of dangerous, dysregulated bad proteins causing inflammation in the brain post-stroke.

Verma came to the U.S. over a decade ago from India and continued his stroke research journey at UConn School of Medicine studying stroke.

“I saw the big therapeutic gap in a new drug treatment for stroke to mitigate its brain damage and help with post-stroke recovery, and was motivated to try to fill this gap by learning more about stroke and by performing more translational research. I have chosen to stay at UConn for my stroke research, as UConn excels at this.”

But Verma is also driven to fight stroke personally.

“So many people have a personal story or family member who has been personally impacted about stroke – including me,” Verma shares. “My father died from a cardiovascular incident. We are not sure if it was in the brain or the heart. But this experience has led to my motivation for pursuing more stroke research.”

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Attorney General Bonta Issues Bulletin on Third-Party Collection of Voter Ballots and Unofficial Ballot Drop-Off Containers
Source: US State of California

OAKLAND — Ahead of the Tuesday, November 5, 2024 General Election, California Attorney General Rob Bonta today issued a bulletin summarizing California laws that apply when voters entrust their ballots to another person for delivery to elections officials, as well as rules that apply to unofficial ballot collection containers. Active registered voters can track their ballots by signing up at wheresmyballot.sos.ca.gov and voters unsure of their registration status can check online at voterstatus.sos.ca.gov.

“Here in California, all active registered voters are mailed vote-by-mail ballots because we want to make it as easy as possible for your voice to be heard,” said Attorney General Bonta. “California law also permits voters to entrust their completed mail ballots to someone else for delivery to election officials, which is another way our State makes it easier for people to vote. But, to ensure the integrity of our elections, those who accept another person’s ballot for delivery have serious responsibilities and, with today’s bulletin, we want to raise awareness of those responsibilities.”

Returning Vote-By-Mail Ballots

The California Elections Code permits voters to return their voted vote-by-mail ballots in the following ways:
- Mailing it to your county elections official (no postage is required; must be postmarked on or before Election Day).
- Returning it in person to any polling place within the state or your county elections office by 8:00 pm on Election Day.
- Returning it to an official vote-by-mail ballot drop-off location within the state by 8:00 pm on Election Day.
- Authorizing a third party to return the ballot on your behalf, subject to requirements set forth below.
When a voter entrusts a third party to return their voted ballot, the following requirements apply:
- The designated person to whom the ballot is entrusted must include their name and signature on the vote-by-mail ballot return envelope as the person authorized to return the ballot.
- The designated person must return the ballot in person, or put the ballot in the mail, no later than three days after receiving it from the voter or before the close of the polls on election day, whichever time period is shorter.
- The designated person may not receive any form of compensation based on the number of ballots that the person returns, and no party may compensate them on this basis.
- The designated person may not engage in other criminal acts related to that ballot.
The California Elections Code prohibits a variety of conduct relevant to the return of vote-by-mail ballots. For example, anyone who attempts to vote a vote-by-mail ballot by fraudulently signing the name of a regularly qualified voter, a person who is not qualified to vote, or a fictitious person is punishable by imprisonment for up to three years, or by a fine not exceeding one thousand dollars, or by both fine and imprisonment.

Official Ballot Drop Boxes and Unofficial Drop-Off Containers

Only city and county elections officials may establish official ballot drop boxes. The regulations promulgated by the Secretary of State’s office provide extensive requirements for the design, use, and security of vote-by-mail ballot drop boxes.

Certain conduct related to unofficial ballot drop off containers, or ballot drop boxes not established by elections officials, is prohibited. For example:
- It is a crime to display a container to collect ballots with the intent to deceive any voter into casting a ballot into an unofficial container. Evidence of intent to deceive voters may include using the word “official” on the container or other features that are likely to deceive voters into thinking that an unofficial container is an official drop box approved by election officials.
- It is a crime to direct or solicit a voter to place a ballot in containers described in the bullet above.
This conduct is punishable by a fine not exceeding one thousand dollars ($1,000), or by imprisonment for up to three years, or by both fine and imprisonment. It is also a crime to aid or abet anyone in the commission of these offenses, punishable by imprisonment in the county jail for six months or in the state prison for up to three years.

The bulletin can be found here.

MIL OSI USA News –
January 25, 2025
MIL-OSI Security: Happy Valley-Goose Bay — Happy Valley-Goose Bay RCMP investigates robbery at Skipper Joe’s, seeks public’s assistance

Source: Royal Canadian Mounted Police

Happy Valley-Goose Bay RCMP is investigating a robbery that occurred on the evening of October 27, 2024, at Skipper Joe’s store on Hamilton River Road in Happy Valley-Goose Bay.

The crime occurred at approximately 9:00 p.m. on Sunday. A lone man, who was wearing all black clothing and gloves, entered the store wearing a black ski mask. He approached the cashier and demanded that the employee open the register. The man departed the store with the register in hand and was last seen running east along Hamilton River Road towards Juniper Street.

The investigation is continuing. Police ask the public to check for any available surveillance footage, including dash cam footage, and to report suspicious activity.

Anyone having information about this crime, the identity of the suspect or the current location of the cash register is asked to contact Happy Valley-Goose Bay RCMP at 709-896-3383. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.

MIL Security OSI –

January 25, 2025
MIL-OSI: John Nicola’s Visionary Impact Earns Hall of Fame Induction in B.C.

Source: GlobeNewswire (MIL-OSI)

Vancouver, BC, Oct. 28, 2024 (GLOBE NEWSWIRE) — Nicola Wealth Management Ltd. (Nicola Wealth) is proud to announce that John Nicola, Chairman, Chief Executive Officer and founder of Nicola Wealth, will be inducted into the Business Laureates of British Columbia (BLBC) Hall of Fame. The award recognizes Mr. Nicola’s contributions to the province and Canada’s business communities and highlights his innovative approach to wealth management.

The BLBC Hall of Fame was established by JA British Columbia (JABC) in 2005 to honour business leaders whose efforts have shaped the province and country. The Hall of Fame celebrates the lasting legacy these leaders leave for future generations.

Since founding Nicola Wealth in 1994, John Nicola has been the driving force behind the firm’s remarkable evolution from a boutique practice into one of Canada’s fastest-growing private investment counsels. Under his visionary leadership, Nicola Wealth expanded from $80 million to a current total of over $16.4 billion in assets under management. His innovative approach to diversified investment strategies has influenced the financial planning landscape for many high-net-worth and ultra-high-net-worth individuals in Canada.

As the organization has grown, so too has its dedication to making a positive impact. John’s legacy of “sharing the pie” exemplifies how visionary leadership, entrepreneurial spirit, and a commitment to mentorship and philanthropy can not only transform businesses but also enrich lives and inspire future generations.

“It is a great honour to receive this recognition from the Business Laureates of B.C. Hall of Fame,” said Mr. Nicola. “This award reflects the incredible work of the entire Nicola Wealth team, whose commitment to innovation and excellence drives our success. As I shift my focus from daily operations to mentoring the next generation of leaders, I am excited about the opportunities ahead. Together, we will continue to make a positive impact in our community.”

Chris Nicola, President of Nicola Wealth, added, “John’s vision and leadership have established a unique and better way for clients to grow and protect their wealth, create a legacy, and make a meaningful social impact. I am committed to continuing to build on this foundation to further elevate the standard of wealth management in Canada.”

“John Nicola’s induction is a testament to his leadership and dedication to both business excellence and community impact,” said Wendi Campbell, JA British Columbia President and CEO. “His achievements have shaped the business landscape in B.C. and inspired future generations of leaders.”

Mr. Nicola will be inducted at the 2025 BLBC Hall of Fame Gala Dinner & Ceremonies in May. The event will bring together industry leaders, dignitaries and the business community to celebrate the achievements and legacies of these inductees.

About Nicola Wealth

Nicola Wealth is an independent wealth management firm dedicated to serving the complex needs of high-net-worth individuals, families, and institutions. Today, the firm manages over $16.4 billion in assets for clients across Canada, with advisors in BC, Alberta and Ontario. Nicola Wealth delivers a level of diversification; building upon a foundation of publicly traded securities, providing access to a wide range of private asset classes including hard asset real estate, private equity, private debt, commercial mortgages and more. For more information, please visit www.nicolawealth.com.

About the Business Laureates of British Columbia Hall of Fame

The Business Laureates of British Columbia Hall of Fame was created by JA British Columbia in 2005 to honour the lifetime achievements of outstanding B.C. business leaders whose efforts have shaped our province and country. Nominations are open to the public to ensure B.C.’s diverse business community is represented and the broadest group of nominees is put forward. Laureates have demonstrated vision, leadership, integrity and legacy throughout their lifetime, and the Hall of Fame stands as a testament to the positive legacy they leave behind for future generations of business leaders.

For more information about the Business Laureates of British Columbia Hall of Fame and this year’s inductees, please visit the official website at https://businesslaureatesbc.jabc.ca/.

The MIL Network –

January 25, 2025
MIL-OSI: Why $MAD is Positioned to Become the Next Big Meme Coin, and How MAD TAP Will Accelerate Its Growth

Source: GlobeNewswire (MIL-OSI)

Dubai, UAE, Oct. 28, 2024 (GLOBE NEWSWIRE) — In the rapidly evolving world of meme coins, where viral narratives and community-driven hype reign supreme, standing out from the crowd requires more than just a catchy name or fleeting trends. $MAD (Memes After Dark), a meme coin making waves in the crypto community, has emerged as a frontrunner in a crowded space. With a unique blend of strong storytelling, strategic partnerships, and an innovative ecosystem, $MAD is primed to reach the upper echelons of the meme coin landscape. One of the key drivers of this growth will be the launch of MAD TAP, an app that is poised to revolutionize the project and elevate it to new heights.

The Cult-Like Community Behind $MAD

The rise of meme coins often hinges on community loyalty, and $MAD has built a fanbase that’s more like a movement. From Twitter to Telegram, the $MAD community boasts an active and loyal group of supporters, often likened to a cult following. With over 96% of holders being diamond hands—a staggering figure for any crypto project—this is not just another speculative coin. The community’s devotion has been key to the project’s remarkable growth, including a jump from a $600K to a $42M market cap in a matter of days.

This strong foundation is built on compelling storytelling, a well-executed narrative that intertwines humor, culture, and community values. The project doesn’t just ride the meme wave; it defines it. By appealing to both seasoned crypto enthusiasts and the broader public through entertaining and engaging content, $MAD has established itself as more than just another “pump and dump” meme coin. It is creating lasting value and a sense of identity within its ecosystem.

The Power of MAD TAP: Bringing Utility to the Meme Coin Space

While the meme coin market is often characterized by speculation, $MAD is taking a different approach by integrating real-world utilities into its ecosystem. MAD TAP is the flagship application that will serve as a game-changer for the project. In a space where most meme coins lack functional utility, MAD TAP is set to become a key differentiator.

MAD TAP is not just a feature; it’s a strategic tool that will allow $MAD to transition from hype-driven growth to sustainable expansion. The app will provide users with real-world rewards, game economies, and utilities, expanding the $MAD ecosystem and giving holders tangible reasons to stay engaged. This utility adds a layer of depth that is often missing from meme coins, offering a degen-friendly space for collaboration and interaction that extends beyond the token itself.

With multi-language support, including major Asian languages like Chinese and Korean, MAD TAP is set to open the doors for massive expansion into Asian markets. Following $MAD’s presence at Token2049 in Singapore, rumors are swirling that the project will aggressively expand in the region. This move could unlock significant liquidity and drive further adoption, making $MAD a truly global phenomenon.

Strategic Partnerships and Upcoming CEX Listings

$MAD has already secured high-profile partnerships with key players in the crypto ecosystem, further boosting its credibility. The project’s presence in large-scale events and massive Twitter Spaces with influential figures have solidified its standing in the broader community. These partnerships are not just for show—they reflect a long-term vision for growth and integration.

Adding to the bullish sentiment, upcoming CEX listings are expected to give $MAD a significant boost. With these listings, $MAD will gain access to a broader range of investors, increased liquidity, and greater visibility. This is crucial as the meme coin market matures and transitions from niche communities to mainstream adoption.

The Pokémon Connection: Building an IP for Mass Appeal

One of the most intriguing aspects of $MAD is its potential to become the next Pokémon of the crypto world. The team has even brought a Pokémon advisor on board, signaling that the project is aiming for mainstream success far beyond the typical meme coin trajectory. This is not about short-term gains; $MAD is building an intellectual property (IP) that resonates emotionally with its community, similar to how Pokémon captured the imaginations of generations.

This combination of viral meme culture, real utility, and mainstream appeal positions $MAD as a project with staying power. As the team continues to develop its ecosystem and roll out features like MAD TAP, it’s clear that $MAD has the potential to break out from the meme coin mold and evolve into a major player in the crypto space.

Conclusion: The Road Ahead for $MAD

$MAD is more than just a meme coin—it’s a project with a strong community, real-world utilities, and a vision for the future. The launch of MAD TAP will unlock new possibilities, expanding the ecosystem, increasing user engagement, and opening doors to new markets. With its strategic approach and dedicated following, $MAD is positioning itself to become the next blue-chip meme coin, and possibly, a cultural icon in the crypto world.

As the project continues to grow and gain momentum, it’s clear that $MAD is not just riding the meme wave—it’s shaping the future of it.

Website | Twitter | Telegram | Instagram | TikTok | DEXScreener | CoinMarketCap | CoinGecko

MAD Token

https://www.mad.vip

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The MIL Network –

January 25, 2025
MIL-OSI Reportage: New app set to slash merchant payment fees and transform how NZers manage their money
Source: BNZ statements

Imagine running a bustling café where every transaction not only saves you money on fees, but also automatically updates your loyalty programme, provides smart sales insights, and even puts you on the map for potential new customers.

Meanwhile, your regulars can pay their brunch bill without even bringing a wallet, quickly send their share of the brunch tab to friends, manage their bank accounts, loyalty cards and gift vouchers seamlessly in one place, and easily track their daily flat white habits.

Soon this will be the reality for New Zealand businesses and their customers with the launch of Payap – the country’s first digital wallet and Point of Sale (POS) app compatible with all New Zealand banks.

Leveraging the power of open banking, Payap offers a new lower cost, contactless way to pay and get paid. Payap makes transactions effortless: users simply scan QR codes dynamically generated on an EFTPOS terminal, enabling instant cash transfers directly from their bank account. It also provides a low-cost ecommerce solution, making it easy and affordable for businesses to accept payments online.

With Payap’s 0.39% payment acceptance rate, a retail business turning over $100,000 monthly could save up to $7,320 annually compared to the average 1% merchant service fee reported by the Commerce Commission. For ecommerce businesses, Payap’s 0.59% fee is approximately 80% cheaper than the percentage fees charged by some other providers.
- Businesses using Payap also have access to a suite of powerful features, including:
- The ability to create and manage loyalty programmes, making it easy to reward customers and build brand loyalty
- Enhanced visibility over transactions and the ability to manage discounts and refunds through a dedicated portal
- Increased visibility with Payap’s ‘store finder’ map, showcasing location, business details, and available offers to app users
- Use existing hardware – Payap is supported by all leading EFTPOS providers
For consumers, Payap brings together all your accounts from New Zealand banks, as well as loyalty, and even gift cards in one easy-to-use digital wallet. It allows seamless payments from any linked account and offers a range of features that simplify money management:
- Manage your bank accounts, loyalty, and gift cards in one place
- Split a payment across multiple sources, combining different bank accounts, debit cards, or gift card balances, all managed seamlessly within Payap
- Easily split bills or manage shared expenses with friends with peer-to-peer payments
- Log all your receipts in one place and get smart insights to gain a clear view of your spending patterns
- Level up your loyalty, with rewards automatically applied during transactions
Powered by New Zealand fintech Centrapay and backed by BNZ, Payap is now available for business sign-ups ahead of the March 2025 consumer launch. The onboarding process is quick and free, and businesses are encouraged to register their interest. Payap is available to all businesses regardless of who they bank with.

“Payap is the country’s first comprehensive digital payment service that leverages the power of open banking to fill a clear gap in the New Zealand market,” says Centrapay CEO Greg Beehre.

“We’re excited to introduce this innovative solution that will transform how businesses accept payments and how we manage our money.”

BNZ Executive Customer Products and Services, Karna Luke, says the potential Payap offers to both businesses and consumers is impressive.

“Our team is working closely with our business customers to onboard them before the consumer launch, and we expect thousands of businesses to be on the platform on day one when their customers start using the app.

“Payap is designed to benefit businesses across Aotearoa, and we welcome all interested businesses – from small street vendors to enterprise retailers and everything in between – to get in touch with us to explore how it can enhance their payment system and customer experience.”

Core payments, acceptance and rewards features will be available at launch, with additional capabilities like peer-to-peer payments being rolled out progressively throughout 2025.

Businesses interested in learning more about Payap can visit www.payap.com or www.bnz.co.nz/payap

The post New app set to slash merchant payment fees and transform how NZers manage their money appeared first on BNZ Debrief.
MIL OSI Analysis –
January 25, 2025
MIL-OSI Global: How a Trump election win could hit the US food industry and leave millions of Americans hungry

Source: The Conversation – UK – By Shonil Bhagwat, Professor of Environment and Development, The Open University

Sheila Fitzgerald/Shutterstock

As the US presidential election inches closer, a recent survey found that the economy is the top issue for voters, and many are also concerned about healthcare, foreign policy and inequality. Amid all the noise about these key issues however, food has received only marginal coverage in the campaigning despite the country’s high cost of living.

Project 2025, a 900-page policy document produced by conservative thinktank the Heritage Foundation, has become a major talking point in the election campaign. Although Republican candidate Donald Trump has denied any links between his campaign and Project 2025, the people who have authored this document are no strangers to the former president, with more than half of the 307 contributors having served in the Trump administration or on his campaign or transition teams.

Trump’s Democratic rival in the race to the White House, Vice President Kamala Harris, has been very vocal about the dangers to the American people if the Project 2025 proposals were to be implemented. Instead, her campaign has promised an “opportunity economy” to support the American middle class, which will seek to cut prices and taxes, lower household costs, and offer various tax reliefs.

Analyses of Harris’ versus Trump’s economic policies suggest that the tariffs Trump has proposed will cause a rise in prices of imported goods – including food. On the other hand, Trump’s policies could lower energy costs because more domestic fossil fuel production could make US-produced foodstuffs cheaper.

But Project 2025 proposes deregulation of US dietary guidelines and US food assistance programmes, including Supplemental Nutrition Assistance Program (Snap), Women, Infants and Children Program (WIC), and the National School Lunch Program. Democrats have argued that this will “drastically reduce” the access that families have to fresh American-grown food, threatening the health of the most vulnerable.

Read more:
How Harris and Trump’s economic pledges stack up

Democrats have also claimed that Project 2025 policies would reduce support to small-scale farmers, favouring large agribusinesses while deregulating the flow of ultra-processed food manufactured and distributed by influential corporations. Some estimates suggest that 73% of US food supply is already made up of ultra-processed foods, and they have been found to provide 60% of the calories consumed by the average US adult.

The links between ultra-processed food and negative health outcomes are increasingly being drawn. As such, food policy under Project 2025 would be very likely to have a negative impact on wider public health in the US.

But at the same time, Project 2025 would probably make healthcare less affordable and more restrictive for millions of citizens. It promises to reinstate the ability of the pharmaceutical industry to fix prices, raising the cost of drugs for American people.

It would also cut funding for health coverage for low-income Americans, threatening the survival of hospitals, health centres or doctors who serve those people.

These healthcare policies, combined with deregulation of the food industry and dietary guidelines, as well as the defunding of food assistance programmes, could spell a triple whammy for the health and wellbeing of some of the most vulnerable people in America.

How do Harris’s plans compare?

Harris’s plans, on the other hand, aim to make healthcare less expensive and more accessible, particularly for those from vulnerable groups such as black Americans or those on low incomes, the elderly or veterans.

But while these proposals might remove barriers to healthcare, they won’t directly improve food provision for Americans. Some of the proposals in Harris’s “opportunity economy”, however, could directly address the issue.

The outcome of the presidential election could have serious consequences for food security and wellbeing – especially among America’s poorer populations.
Tada Images/Shutterstock

Harris’s proposals focus on strengthening and diversifying supply chains for food production, processing and distribution. She has been outspoken about investigating price-fixing of food products by large corporations – and prosecuting firms anywhere in the supply chain where this is found to have happened.

Harris’s plans would also support small producers, processors, distributors, family farms and food and farm workers with more funding to compete with large conglomerates. This could result in more decentralised supply chains, which are known to make it easier to provide healthier food to more people by encouraging crop diversity and lowering the cost of fresh local products.

And she is promising to crack down on mergers and acquisitions of food corporations, which are known to compromise the sustainable provision of healthy food by curbing farmers’ bargaining power and leaving communities with little say over how their land is used.

Food is integral to the public sector economy, alongside things such as providing healthcare, protecting the environment and reducing inequalities. The organisation of the entire food system – from production to processing, trade to transport, and consumption to nutrition – needs to consider ways in which feeding a country can strenghten its public sector economy, and meet its obligation to the United Nations Sustainable Development Goals. The US has already made a commitment to these goals through global food security programmes like Feed the Future.

These issues are especially pertinent to the US, as its food system is highly centralised. In fact, 6% of farms grow 60% of food. Meanwhile family farms – which represent 88% of the total – contribute only 19%. Harris’s proposals could go some way to correcting this imbalance. But the rhetoric coming from her rivals on the other hand could ultimately end up making the US worse off in terms of food provision and health.

Shonil Bhagwat is a member of the UK Department for Environment Food & Rural Affairs Science Advisory Council: Social Science Expert Group and the National Trust, UK, Specialist Advice Network: Natural Environment Advisory Group. He has received funding from UK Research and Innovation (Research England, Natural Environment Research Council, Economic and Social Research Council), European Union Horizon 2020, The Leverhulme Trust, The Royal Society, and the British Ecological Society.

– ref. How a Trump election win could hit the US food industry and leave millions of Americans hungry – https://theconversation.com/how-a-trump-election-win-could-hit-the-us-food-industry-and-leave-millions-of-americans-hungry-242316

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Japan-style ‘tiny forests’ are taking root in British cities

Source: The Conversation – UK – By Hanyu Qi, PhD Candidate, School of Architecture and Landscape, University of Sheffield

Anatta_Tan/Shutterstock

A staggering one in three people in England lack access to nature-rich spaces within a short walk from their homes. Now, a growing movement is bringing nature back to cities across the UK. The Miyawaki forest method involves planting a diverse mix of densely packed native woodland trees – or “tiny forests” – that grow quickly in small areas, around the size of a tennis court.

Already, there are more than 280 Miyawaki-style forests nationwide. Tucked away within housing estates, school grounds and wasteland on the urban edge, these urban forests are growing faster than conventionally planted trees.

This tree planting approach was developed by Japanese ecologist Akira Miyawaki in the 1970s. Proponents argue that tiny forests create more habitat for wildlife and increase the capacity of land to store carbon, although few studies aim to quantify those benefits in western countries. If planted in a certain way, they can help create a more complete plant community structure from the ground up to the canopy.

This means that the forest has distinct layers from the slow-growing canopy species right down to the smaller shrubs and ground covering herbs. These habitats are self-sustaining, so after three to five years’ growth they apparently don’t need much maintenance.

The environmental charity Earthwatch Europe uses the Miyawaki method to plant tiny forests in urban areas. So far, with the help of local communities, they have planted 285 forests since 2022.

Some local councils and community groups are embracing this tiny forest revolution. At Tychwood in Witney, near Oxford, the UK’s first tiny forest now has an outdoor classroom area that’s used by schoolchildren and local residents who can work on citizen science projects and tree maintenance.

Since it was first planted in March 2020, the habitat has become home to insects, birds and lots of native plants such as oak, birch, crab apple, dogwood and goat willow.

But while a government-funded pilot project called Trees Outside Woodlands has received attention for its possible socio-environmental benefits, very little research has quantified how best to do this effectively. One report published by conservation charity the Tree Council shows that Miyawaki plots have significantly higher survival rates and are more cost-effective than non-Miyawaki plots. But lots of unknowns remain.

A climate of uncertainty

Despite recognition of the potential benefits, including carbon storage, biodiversity conservation and educational opportunities, there’s a lot of uncertainty about how to apply the tiny forest method in different climates, particularly in the UK.

Our recent study, published in the Arboricultural Journal, explores how suitable these tiny forests are within the UK context. Our interviews with 12 professionals (tree experts from academia or practitioners) reveal that while half of them supported the Miyawaki method, especially in specific urban areas such as schools and small parks, concerns remained about tree mortality and the high costs of buying saplings, prepping soil and maintaining trees. A few people told us that they could see potential in using unused farmland to establish tiny forests in rural settings too.

Climate adaptation is paramount and planting trees in urban environments has never been more important. Access to nature also improves people’s health and wellbeing, with green spaces helping to connect communities and reduce loneliness, as well as mitigate the negative effects of climate change, such as air pollution, heatwaves and flooding, and improve biodiversity.

As UK cities face both climate change and biodiversity loss, the tiny forest method offers a promising solution. There are still many challenges to overcome as this movement is still in its infancy – but it could be key to a greener, more resilient future.

Don’t have time to read about climate change as much as you’d like? Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 35,000+ readers who’ve subscribed so far.

Nicola Dempsey is on the Board of Green Estate, CIC, Secretary of the Sheffield Green Spaces Forum and a member of the Sheffield Street Tree Partnership.

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

– ref. Japan-style ‘tiny forests’ are taking root in British cities – https://theconversation.com/japan-style-tiny-forests-are-taking-root-in-british-cities-239005

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: How a crisis of truth is putting US electoral system under stress

Source: The Conversation – UK – By Clodagh Harrington, Lecturer in American Politics, University College Cork

America is in the grip of a crisis of truth and its political and electoral systems are under duress. Losing the connection between what is true and what is fiction could have enormous consequence in the middle of this US election campaign.

Academics refer to this as an epistemological crisis, a situation where different people believe different “truths” and it becomes difficult to get a shared understanding of key facts. This, they argue, can lead to polarisation and potentially, even, an ungovernable country, based on an inability to decide on what is factually correct.

Jonathan Rauch, the journalist and author of The Constitution of Knowledge: A Defense of Truth, says historically disagreement about what is true has, on some occasions, led to untold killing and suffering.

Right now in the US, it’s clear that there are massive differences in what people believe is true. Polls show, for instance, that around 69% of Republicans and Republican-leaning voters think the 2020 election result was not legitimate and that Joe Biden did not win.

This division is amplified by what is happening in and around the campaigns, and the use of new and developing techniques. The Trump campaign, for instance, continues to make claims that the 2020 election was stolen.

Sharing misinformation (that is, when inaccurate content is disseminated but not with the intent to mislead) has always been part of political life, but it is now quickly amplified by social media. Spreading disinformation takes this to the next level, when organisations or individuals deliberately spread lies. But the means to do so have grown more sophisticated, as demonstrated in the recent Moldovan election, where a massive Russian disinformation campaign was discovered.

History reminds us that fake news is at a premium during wartime and the world is currently experiencing two major conflicts. In both cases, the geopolitical consequences for the US are sky-high.

By spring 2024, US news media were reporting on Russia’s potential to interfere in the US election. The US administration’s position on the Ukraine war in particular matters greatly to the Kremlin, and it is no secret that a Donald Trump victory would suit Putin far better than a continuation of the Ukraine-funding Democrat alternative.

What is an epistemological crisis?

In September, US officials warned of election threats, not only from Russia but also Iran and China. Former director of the US Cyber-Security and Infrastructure Agency, Chris Krebs, stated that 2024 is “lining up to be a busy election interference season”. What makes these multi-faceted and constantly evolving threats even harder to manage is the fact that Maga influencers are embroiled in the proceedings. This makes a unified American response against an external threat all but impossible.

Read more:
Why do millions of Americans believe the 2020 presidential election was ‘stolen’ from Donald Trump?

One recent such example involved a company in Tennessee which was used by members of the Russian state-owned broadcaster RT (formerly Russia Today) to spread Russia-friendly content. The content-creators were paid US$10 million (£7.7 million) by RT to publish pro-Russia videos in English on a range of social media platforms. The RT employees were charged with conspiracy to commit money laundering and violating the Foreign Agent Registration Act.

This is one of many developments by the foreign interference machine as the election on November 5 nears. Other incidents include dozens of internet domains used by the Kremlin to spread disinformation on websites designed to look like news sites and to undermine support for Ukraine. The US government response to these complex and boundary-blurring threats is complicated by the tension between maintaining discretion and informing the public.

Old challenges, new technology

Looking back, the 2016 presidential campaign and subsequent victory for Trump brought many firsts, some comical, others deadly serious in this post-truth arena. The lighter side included inaccurate claims made by White House press secretary Sean Spicer about the size of Trump’s 2017 inauguration crowd. When Trump advisor Kellyanne Conway declared on television to have “alternative facts” to those reported by the media on the crowd size, her phrase entered general use.

With hindsight, such falsehoods now seem a little quaint, as the images from the day told the truth better than any script. Far more disturbingly, Russia’s Project Lakhta involved a “hacking and disinformation campaign” described in Special Counsel Robert Mueller’s 2019 Report as vast and complex in scale. The scheme involved human and technological input and targeted politicians on the political left and right, with a view to causing maximum disruption. Just a year later, Russia interfered in the 2020 race, this time spreading falsehoods about Biden and working in Trump’s favour.

Fast forward to 2024 and we are awash with AI-created images and writing. Now any sort of lie is possible. Deep fakes, voice, image and video manipulation now mean that we literally can no longer believe our ears and eyes.

Kellyanne Conway on alternative facts.

Meanwhile, back on the campaign trail in 2024, Team Trump demonstrates few qualms when dishing out alternative facts. A long-time proponent of “truthful hyperbole” the former real-estate dealer takes exaggeration to a point no longer on the scale. From sharing an AI-generated image of Taylor Swift endorsing him (she soon backed his opponent) to claims that helicopters were not getting through with hurricane relief, the news cycle is awash with baseless content.

An inevitable outcome of this crisis and conflict over truth is voters’ confusion and disengagement, and increasing public tension, with a new poll reporting that the majority of Americans are expecting violence after the election.

Voters deserve to know whether what they know is real, but in this campaign it is increasingly clear that they don’t and the consequences of this could be stark.

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

– ref. How a crisis of truth is putting US electoral system under stress – https://theconversation.com/how-a-crisis-of-truth-is-putting-us-electoral-system-under-stress-242046

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: US election: Puerto Rican voters could deliver Donald Trump an unwelcome ‘October surprise’

Source: The Conversation – UK – By Todd Landman, Professor of Political Science, University of Nottingham

As it moves into the final week, the US election campaign remains so tight that most commentators are calling it a toss-up. But Donald Trump’s campaign may have just dealt itself its own “October surprise” – something no candidate for the US president wants as it stands for a last-minute disaster.

At his much anticipated “closing argument” rally at Madison Square Garden in New York City on October 27, various warm-up speakers engaged in strong, dark rhetoric about the state of the nation that laid the ground for Trump to take the stage and assert his position as the “protector”,“fixer”, and “liberator” of what he and his support base like to think of as an “occupied” country.

But the tone and content of the event was problematic from the start. Comedian Tony Hinchcliffe made opening remarks in which he described Puerto Rico as an “island of garbage”.

Deep offence at these remarks rippled across America’s Puerto Rican community and beyond. His slur on Puerto Rico drew condemnation across the political spectrum and mobilised a rash of new endorsements for the Harris-Walz campaign. The incident has raised the prospect of a Puerto Rican backlash that could well have an impact on the outcome of the election.

Tony Hinchcliffe: an October surprise?

Causing such deep offence to a significant minority population at a crucial moment in the campaign could have real consequences. Ultimately, the outcome of the election is determined by electoral college votes. These, in the end, will rely heavily on tallies across seven swing states: Arizona, Georgia, Michigan, Nevada, North Caroline, Pennsylvania and Wisconsin.

The outcome of the 2016 and 2020 elections, although the Democrats received far more votes than the Republicans in total (3 million and 7 million, respectively), came down to very close margins across these swing states. In 2020, Joe Biden won the electoral college vote across these seven states – but with an average of less than half a percentage point (0.47%).

Why Puerto Rico matters

Puerto Rico is what is known as an “unincorporated territory” of the United States. Since it is not a state, it does not have any electoral college votes. But Puerto Ricans are citizens of the United States – a status they have enjoyed since 1917 – and can move freely between Puerto Rico and the mainland.

Those who reside in Puerto Rico may not vote in federal elections, but those who do live in the United States are eligible to vote in the states where they are registered.

Historically Puerto Ricans have been more likely to support the Democrats. But their turnout has been in consistent in the past. And both campaigns have made special effort to target this group. If enough people take offence at Hinchcliffe’s remarks, this could have a significant impact on the election result.

Millions of Puerto Ricans have made successful lives and careers in the US. As of 2021, Puerto Ricans make up 2% of the US population (5.8 million, up from 4.7 million in 2010). Despite this relatively low percentage overall, it is the distribution of the Puerto Rican population that makes them important in the presidential election.

The table below shows the Puerto Rican population across swing states in 2024 as well as the number of electoral college votes that are up for grabs in each state and the winning vote margin for Joe Biden in 2020. The figures in the table are for the whole Puerto Rican population.

Across these seven swing states, it is clear that the distribution of Puerto Ricans is not insignificant. This is especially the case in the key state of Pennsylvania. The total number and proportion of Puerto Ricans living there is easily large enough to affect the marginal vote share needed to tip the state to one of the two main political parties, which has 19 electoral college votes.

It’s telling that the Harris-Walz campaign was in Pennsylvania actively courting Latino voters at the same time the rally was underway in New York. The rapid impact from the rally manifested in real time and included the endorsement of the Harris-Walz campaign from world-famous celebrities.

Shortly after the remarks at the rally, Bad Bunny, the world’s most-streamed musical artist on Spotify between 2020 and 2022, endorsed Harris, as did singer Ricky Martin and actress Jennifer Lopez, whose parents come from Puerto Rico.

Bad Bunny showed his support by resharing with his millions of social media followers a video of Harris speaking about Trump’s response to the devastating hurricanes Irma and Maria that ravaged Puerto Rico in 2017. Ricky Martin posted “Esto es lo que piensan en nosotros” (This is what they think of us) with a tag of “vote for @kamalaharris”.

In a race where margins of victory are extremely thin, a small island country like Puerto Rico with its special status and mobile voters may just tip the scales in Harris’s direction.

Todd Landman receives funding from International Justice Mission, US State Department Trafficking in Persons Office, J. Sainsbury’s Ltd., and the US National Institute for Justice. .

– ref. US election: Puerto Rican voters could deliver Donald Trump an unwelcome ‘October surprise’ – https://theconversation.com/us-election-puerto-rican-voters-could-deliver-donald-trump-an-unwelcome-october-surprise-242326

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Five reasons Warhammer 40,000 should be considered a great work of science fiction

Source: The Conversation – UK – By Mike Ryder, Lecturer in Marketing, Lancaster University

Games Workshop, the British company behind the tabletop war game Warhammer and its futuristic counterpart Warhammer 40,000 (also known as Warhammer 40k), is now worth in the region of £3.75 billion. And it counts among its fans celebrities like Henry Cavill, Brian May and the late Robin Williams.

The original Warhammer (known as Warhammer Fantasy Battle) was a fantasy tabletop miniature war-game. Released in 1983 it featured J.R.R. Tolkien-esque orc, goblin, dwarf and elf characters. A few years later, Games Workshop launched a science fiction version of the game, Warhammer 40k, where many of the fantasy races were re-imagined for a futuristic science fiction setting.

Historically, many fans of science fiction have looked down on Warhammer 40k as something of a niche interest, the darker, grimier cousin of the clean-cut American franchises of Star Wars and Star Trek. But things are starting to change. Warhammer 40k is now so much more than a simple tabletop battle game. It is a whole universe of rich and diverse characters of great depth, and it is supported by a body of literature.

Here are five reasons the Warhammer 40k franchise is as worthy of science fiction fandom as its American cousins.

1. The grand scope of its format

Warhammer 40k is no longer just a miniatures game. Rather, it is a complete fictional universe far grander in scope than any other science fiction universe that exists today.

This multi-modal format means that fans don’t just have to collect model miniatures to enjoy it. There are so many different formats available, including animations, role-playing and video games, as well as comic books and the extensive literary publications from the Black Library, the publishing arm of Games Workshop.

2. The franchise’s scale

Warhammer 40k universe is huge. And I mean, seriously huge. The Horus Heresy series – the key saga that sets the context for the “present day” universe – spans some 54 books, with a further ten books mapping out the series’ conclusion.

This is arguably the biggest single collective literary undertaking in all of science fiction. The series started in 2006 with the novel Horus Rising, and has now reached its conclusion, with just the final few books awaiting their paperback release.

3. Depth of storytelling

Make no mistake, Warhammer 40k is no simple battle of good versus evil. Rather, it is a universe of deep politics, philosophy and nuance, where even the so-called “good guys” are forced to make difficult choices in the name of survival.

This tension is encapsulated in the leader of the Imperium (humanity), known as The Emperor, who has sat atop his golden throne for more than 10,000 years. He is sustained by the ritual daily sacrifice of thousands of souls, who give up their lives in order that he continue his psychic battle with the forces of chaos in the psychic realm, known as The Warp.

Such depth has helped the universe flourish over many decades, providing a constant stream of ideas for fans to engage with, and characters to explore.

4. The grimdark aesthetic

Such has been the impact of the Warhammer 40k universe that it has even spawned its own unique sub-genre of science fiction and fantasy, known as grimdark. Spearheaded by legendary artist John Blanche, grimdark is characterised by its bleak aesthetic that calls back to a kind of primordial existence, where day-to-day survival is not guaranteed.

This sub-genre extends far beyond the realms of Warhammer, even shaping the work of bestselling fantasy novelists such as Joe Abercrombie, author of The First Law trilogy.

5. Research potential

Researchers are also now starting to take Warhammer seriously. In September, Germany hosted the world’s first academic conference dedicated to all things Warhammer. The conference attracted almost 60 speakers, with academics from across the globe looking at the universe through their own particular academic lens.

Meanwhile, the depth of academic literature on Warhammer is also growing rapidly. In my own research I often write about science fiction and its potential to help us think about complex problems in new ways. With Warhammer, I have been able to explore what it means to be a soldier, and the symbolic relationship between the soldier and the state. I do this by exploring the portrayal of 40k’s most iconic characters, the space marines – genetically enhanced super-soldiers who live a monk-like existence committed to waging endless war against the enemies of mankind.

The Prime series Secret Level will feature a Warhammer 40k episode.

Time to go mainstream

While it is fair to say that Warhammer 40k has so far been fairly underrepresented in science fiction circles, it seems the tide is finally starting to turn. Just last year Games Workshop signed a deal with Amazon to produce a TV series. There will also be a Warhammer 40k animation, due for release in December 2024. There have also been several important critical successes for 40k in the realm of video games, the most recent example being Space Marine II.

With the growth of the tabletop hobby, the continued success of licensed video games and with an Amazon series on the horizon, we are now at a point where Warhammer is about to go mainstream. No longer is it merely a game of rolling dice, and painting model miniatures. Rather now, it is a huge and deeply significant work of science fiction, and one that is worthy of being spoken about in the same way as its American peers.

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

– ref. Five reasons Warhammer 40,000 should be considered a great work of science fiction – https://theconversation.com/five-reasons-warhammer-40-000-should-be-considered-a-great-work-of-science-fiction-241040

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI USA: Capito Announces Congressionally Directed Spending Award for WVU Research Initiative

US Senate News:

Source: United States Senator for West Virginia Shelley Moore Capito
CHARLESTON, W.Va. — Today, U.S. Senator Shelley Moore Capito (R-W.Va.), a member of the Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies (CJS), announced funding from the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) for West Virginia University (WVU).
This award, which was secured through a Congressionally Directed Spending (CDS) request made by Senator Capito in Fiscal Year 2024 (FY24), will support new research equipment and resources.
“WVU is known to be a global leader in critical research initiatives,” Senator Capito said. “During the appropriations process, I worked closely with the university to identify the areas of need, and it was clear that strengthening their research capabilities was a priority. This award will help the university continue its efforts by acquiring state-of-the-art equipment that meets the demands of a leading electron microscopy facility, which can ultimately lead to attracting and retaining a high caliber of research faculty and students. I was proud to help secure this award that will have long-lasting benefits for WVU and our entire state.”
Award details listed below:
$1,140,000 CJS CDS award to WVU (Morgantown, W.Va.) for a suite of research equipment to develop standards and optimization in the areas of advanced energy systems, advanced manufacturing, and fundamental biomedical, neuroscience and life science studies. This equipment will be used to upgrade the existing Sample Preparation Laboratory (SPL) within the Electron Microscopy Facility (EMF) to optimally utilize current and future electron microscopes. The SPL processes samples for the EMF, as well as other research facilities. The availability of modern electron microscopy sample preparation facilities will support the recruitment of new faculty and student talent and in the retention of existing talent. The award also has the potential to benefit the entire Shared Research Facility by enabling faculty to propose and execute more ambitious studies in collaborative teams and by promoting greater industrial engagement by means of the materials insights that WVU can contribute.

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Merkley, Wyden, Hoyle: $10.2 Million in Bipartisan Infrastructure Law Funding to Boost Eugene Transportation Projects

Source: United States House of Representatives – Representative Val Hoyle (OR-04)

October 28, 2024

For Immediate Release: October 28, 2024

WASHINGTON D.C. – Oregon’s U.S. Senators Jeff Merkley and Ron Wyden and U.S. Representative Val Hoyle announced today $10,215,123 in Bipartisan Infrastructure Law funds are headed to the Eugene area for two transportation projects. The federal grants awarded will support the deployment of a mobility app for residents and fund airport terminal reconstruction efforts at Eugene Airport (EUG), also known as Mahlon Sweet Field.

“Oregonians in every corner of our state should be able to get where they need to go safely and efficiently,” U.S. Senator Jeff Merkley said. “The Bipartisan Infrastructure Law was a once-in-a-generation investment that is bringing critical federal dollars to our communities for major transportation projects. These latest funds to the Eugene area will bring a first-of-its-kind app for everyone from students to rural Oregonians to connect with regional transportation options, as well as funds for energy efficiency and capacity upgrades at Eugene Airport. I’ll keep fighting for investments like these to better connect cities and towns across Oregon.”

“From mass transit on the ground to travel by air, I’m gratified these federal resources are headed to Eugene so Oregonians in and around the city can more easily get from Point A to Point B,” U.S. Senator Ron Wyden said. “I worked to pass the Bipartisan Infrastructure Law to generate investments just like these that expand modern, safe and energy-smart transportation opportunities throughout our state. And I’ll keep battling to bring similar transportation funds from this landmark law to every nook and cranny of Oregon.”

“The $5.3 million for LTD’s first-of-its-kind mobility app will help students with transportation challenges get to and from school and the $5 million for Eugene Airport will help us keep pace with the 41% growth in passenger growth over the last 5 years,” U.S. Representative Val Hoyle said. “I would like to thank Senators Merkley and Wyden, local leaders, as well as Secretary Buttigieg, the Department of Transportation, and the White House, for helping us ensure that Oregonian tax dollars always come back home to Oregon to invest in our local priorities and communities.”

The two U.S. Department of Transportation awards and project descriptions can be found below:

$5,215,123 for Lane Transit District (LTD)’s Regional Mobility-Enabling Service Hub (Regional MESH). Regional MESH will create a first-of-its-kind regional mobility management platform integrating diverse transit services for users, including school transportation, into one planning platform, design and deploy on-demand transit in a low-income school district and optimize existing fixed-route rural transit service. Data from trip queries from an associated trip planning app will inform future transit planning and performance management. This funding comes from the Federal Highway Administration’s Advanced Transportation Technologies and Innovative Mobility Deployment (ATTAIN) Program.

$5,000,000 for Eugene Airport to fund a portion of the Concourse A reconstruction and connector bridge expansion project including restroom and utilities upgrades to increase energy efficiency and capacity. This funding comes from the Federal Aviation Administration’s Airport Terminal Program.

“LTD has the necessary expertise to build a reliable and affordable practical service,” said Jameson Auten, LTD’s Chief Executive Officer. “We are grateful for the support that got us here from U.S. Senators Jeff Merkley and Ron Wyden, and U.S. Representative Val Hoyle.”

“We are so grateful to be awarded this competitive Airport Terminal Program (ATP) grant. This is the first step in furthering terminal expansion plans at the Eugene Airport to better serve our regional community,” said Cathryn Stephens, Airport Director.

###

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Senator Collins Announces Nearly $133 Million for Bridge Replacements in Penobscot, Kennebec Counties
US Senate News:
Source: United States Senator for Maine Susan Collins

Washington, D.C. – Today, U.S. Senator Susan Collins, Vice Chair of the Senate Appropriations Committee, announced that the Maine Department of Transportation (MaineDOT) has been awarded $132,676,036 for two projects in Penobscot and Kennebec County. This funding will assist in the rehabilitation or replacement of six bridges on Interstate-395 between Bangor and Brewer, and the replacement of six aging overpasses on Interstate-95 near Augusta. This funding was awarded through the U.S. Department of Transportation’s (USDOT) Bridge Investment Program (BIP). With these two awards, the State of Maine is receiving more than 20% of the nearly $635 million being awarded nationwide through the BIP this funding round. Senator Collins sent a letter to Transportation Secretary Pete Buttigieg in support of MaineDOT’s grant requests.

In 2021, Senator Collins, then the Ranking Member of the Transportation Appropriations Subcommittee, was part of the core group of 10 Senators who negotiated the text of the bipartisan infrastructure law. This law established the BIP, which is the single largest dedicated investment in bridge infrastructure since the construction of the Interstate highway system.

“This funding will make our roadways safer and more resilient by addressing bridges that are crucial to Maine’s infrastructure,” said Senator Collins. “Upgrading these routes will ensure that vital travel corridors remain accessible for residents, businesses, and commercial transport alike.”

“This funding will help fund a dozen significant bridge projects in Kennebec County and the Greater Bangor area,” said Bruce Van Note, Commissioner of the Maine Department of Transportation. “Our team will replace six deteriorating bridges in Sidney and Waterville that do not provide enough vertical clearance for interstate traffic. We will also make major improvements on six bridges along the I-395 corridor in Bangor and Brewer, including the rehabilitation of the Veterans Remembrance Bridge spanning the Penobscot River. These investments in our transportation system support safety, reliability, and economic opportunity. We thank Senator Collins and Maine’s entire Congressional delegation for their ongoing commitment to supporting critical infrastructure projects in our state.”

The funding is allocated as follows:
- I-395 Bridge Bundle Project – $63,016,563 to rehabilitate or replace six deteriorating bridges along I-395 to enhance safety and improve driving conditions for those traveling between Bangor and Brewer, benefiting both local and regional mobility.
- I-95 Accessibility Improvements Minimizing Heavy-Truck Impacts Project – $69,659,473 to replace six outdated bridges over I-95, bringing structures up to modern standards, allowing for safer heavy-truck passage, and reducing long-term maintenance needs on this critical route in Kennebec County.
According to the USDOT, the BIP provides funding for bridge replacement, rehabilitation, preservation, and protection projects that reduce the number of bridges in poor condition, or in fair condition at risk of declining into poor condition.

Since 2009, when Senator Collins became a member of the Appropriations Committee, she has secured more than $1 billion in competitive transportation grants for the State of Maine.
MIL OSI USA News –
January 25, 2025

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How do Harris’s plans compare?

A climate of uncertainty

Old challenges, new technology

Why Puerto Rico matters

1. The grand scope of its format

2. The franchise’s scale

3. Depth of storytelling

4. The grimdark aesthetic

5. Research potential

Time to go mainstream