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  • MIL-OSI USA: NASA Releases Economic Impact Report for Fiscal Year 2023

    Source: NASA

    In fiscal year 2023, NASA investments supported 66,208 jobs in the state of California, generated $18.5 billion in economic output and $1 billion in tax revenue to the state’s economy.
    Overall, NASA generated an estimated $9.5 billion in federal, state, and local taxes throughout the United States.
    NASA’s Armstrong Flight Research Center in Edwards, California is one of three NASA centers in the state that contributes to this economic achievement. The center supports critical research in sustainable flight, air mobility, and airborne science, reinforcing the region as a hub of aerospace innovation.
    Most notably, NASA Armstrong plays a unique role in the Quesst mission and X-59 project, aimed at reducing the sonic booms into quieter “sonic thumps,” to change regulations impeding supersonic flight over land. Additionally, maturing key airframe technologies with the X-66 aircraft in the Sustainable Flight Demonstrator project which may influence the next generation single-aisle seat class airliner. The Center also supports the research of electric air taxis and drones to operate safely in the national airspace as well as supporting science aircraft for NASA’s Earth Science Mission.
    NASA’s Moon to Mars campaign generated 16,129 jobs and $4.7 billion in economic output in California. Collaborations with contractors like Boeing and Lockheed Martin further extended these benefits by creating thousands of high-skilled jobs in the Antelope Valley and across the state.
    NASA also fosters partnerships with educational institutions across the state, investing $39.5 million in universities to cultivate the next generation of aerospace innovators. These investments bring STEM opportunities to local communities and prepare students for careers in cutting-edge industries – adding to the agency’s most valuable asset, its workforce.
    NASA embraces the challenges of exploring the unknown and making the impossible possible as we continue our global leadership in science, human spaceflight, aerospace innovation, and technology development, and support the U.S. economy and benefit all.
    Read the full Economic Impact Report for Fiscal Year 2023.
    -end-
    Nicolas Cholula / Sarah MannNASA’s Armstrong Flight Research Center661-714-3853 / 661-233-2758nicolas.h.cholula@nasa.gov /sarah.mann@nasa.gov

    MIL OSI USA News

  • MIL-OSI USA: NASA Funds Open-Source Software Underpinning Scientific Innovation

    Source: NASA

    NASA has awarded $15.6 million in grant funding to 15 projects supporting the maintenance of open-source tools, frameworks, and libraries used by the NASA science community, for the benefit of all.
    The agency’s Open-Source Tools, Frameworks, and Libraries awards provide support for the sustainable development of tools freely available to everyone and critical for the goals of the agency’s Science Mission Directorate.
    “We received almost twice the number of proposals this year than we had in the previous call,” said Steve Crawford, program executive, Open Science implementation, Office of the Chief Science Data Officer, NASA Headquarters in Washington. “The NASA science community’s excitement for this program demonstrates the need for sustained support and maintenance of open-source software. These projects are integral to our missions, critical to our data infrastructure, underpin machine learning and data science tools, and are used by our researchers, every day, to advance science that protects our planet and broadens our understanding of the universe.”
    This award program is one of several cross-divisional opportunities at NASA focused on advancing open science practices. The grants are funded by NASA’s Office of the Chief Science Data Officer through the agency’s Research Opportunities for Space and Earth Science. The solicitation sought proposals through two types of awards:

    Foundational awards: cooperative agreements for up to five years for open-source tools, frameworks, and libraries that have a significant impact on two or more divisions of the Science Mission Directorate.
    Sustainment awards: grants or cooperative agreements of up to three years for open-source tools, frameworks, and libraries that have significant impact in one or more divisions of the Science Mission Directorate.

    2024 awardees are:
    Foundation awards:

    NASA’s Ames Research Center, Silicon Valley, California

    Principal investigator: Ross Beyer

    “Expanding and Maintaining the Ames Stereo Pipeline”

    Caltech, Pasadena, California

    Principal investigator: Brigitta Sipocz

    “Enhancement of Infrastructure and Sustained Maintenance of Astroquery”

    Cornell University, Scarsdale, New York

    Principal investigator: Ramin Zabih

    “Modernize and Expand arXiv’s Essential Infrastructure”

    NASA’s Goddard Space Flight Center, Greenbelt, Maryland

    Principal investigator: D. Cooley

    “Enabling SMD Science Using the General Mission Analysis Tool”

    NumFOCUS, Austin, Texas

    Principal investigator: Thomas Caswell

    “Sustainment of Matplotlib and Cartopy”

    NumFOCUS

    Principal investigator: Erik Tollerud

    “Investing in the Astropy Project to Enable Research and Education in Astronomy”

    Sustainment awards:

    NASA’s Jet Propulsion Laboratory, Southern California

    Principal investigator: Cedric David

    “Sustain NASA’s River Software for the Satellite Data Deluge,” three-year award

    Pennsylvania State University, University Park

    Principal investigator: David Radice

    “AthenaK: A Performance Portable Simulation Infrastructure for Computational Astrophysics,” three-year award

    United States Geological Survey, Reston, Virginia

    Principal investigator: Trent Hare

    “Planetary Updates for QGIS,” one-year award

    NASA JPL

    Principal investigator: Michael Starch

    “How To F Prime: Empowering Science Missions Through Documentation and Examples,” three-year award

    NASA Goddard

    Principal investigator: Albert Shih

    “Enhancing Consistency and Discoverability Across the SunPy Ecosystem,” three-year award

    Triad National Security, LLC, Los Alamos, New Mexico

    Principal investigator: Julia Kelliher

    “Enhancing Analysis Capabilities of Biological Data With the NASA EDGE Bioinformatics Platform,” four-year award

    iSciences LLC, Burlington, Vermont

    Principal investigator: Daniel Baston

    “Sustaining the Geospatial Data Abstraction Library,” three-year award

    University of Maryland, College Park,

    Principal investigator: C Max Stevens

    “Sustaining the Community Firn Model,” three-year award

    Quansight, LLC, Austin, Texas

    Principal investigator: Dharhas Pothina

    “Ensuring a Fast and Secure Core for Scientific Python – Security, Accessibility and Performance of NumPy, SciPy and scikit-learn; Going Beyond NumPy With Accelerator Support,” three-year award

    For information about open science at NASA, visit:
    https://science.nasa.gov/open-science
    -end-
    Alise FisherHeadquarters, Washington202-617-4977alise.m.fisher@nasa.gov

    MIL OSI USA News

  • MIL-OSI USA: Transformative Scholarship Awarded to FNP Nursing Students

    Source: US State of Connecticut

    During the fall 2024 semester, two final year Family Nurse Practitioner (FNP) students in the School of Nursing received funds from the CVS Health Caring Hearts Student Scholarship Program to help further their education thanks to Dr. Annette Jakubišin Konicki. At $10,000 each, this scholarship was awarded to Melody Len LoPreiato ’25 (NUR) and John Sklepinski ’25 (NUR), who are both pursuing an MS in Nursing with a concentration in family practice.   

    Today’s family nurse practitioners (FNPs) provide comprehensive patient-focused primary and acute care to individuals across the lifespan — from infants to the elderly. Their focus includes delivering preventive health care services for both acute and chronic conditions, requiring them to diagnose and treat illnesses, perform routine checkups, oversee health-risk assessments, and offer counseling services.

    FNPs generally work in practices that focus on women’s health, family practice, pediatrics, and internal medicine. Often FNPs are found in outpatient settings like independent practice clinics, women’s health centers, and community health clinics. 

    The Family Nurse Practitioner (FNP) online Master of Science (MS) and Doctor of Nursing Practice (DNP) program at UConn prepares advanced practice nurses to assess, diagnose, monitor, treat, and coordinate the care of individuals across the lifespan and across primary and acute illnesses. 

    The program is designed for licensed registered nurses who currently hold a bachelor’s degree in nursing and aspire to become advanced practice nurses.  

    “I am grateful and deeply honored to be a recipient of the CVS Caring Heart Scholarship,” says Len LoPreiato. “This generous support is making a significant impact on my studies, especially as I navigate through some personal and family challenges. The funds will be used to help cover my NP educational costs. Since enrolling in the program, I have significantly reduced my normal working hours and covering my educational expenses has been challenging to say the least. Your commitment to supporting students like me inspires hope and motivates me to continue striving for excellence in my education and future career. Thank you for making a difference in my life!” 

    Sklepinski says, “Receiving this scholarship will have a transformative impact on my journey to becoming a Family Nurse Practitioner. As a student at the University of Connecticut, this opportunity allows me to fully commit to my studies without the heavy burden of financial stress.” He goes onto say, “It grants me the chance to focus entirely on expanding my knowledge, clinical skills, and immersing myself in the advanced training necessary for this role. The support helps me stay on track toward achieving my goal of becoming a well-respected and contributing member in the medical community. I am deeply grateful for this scholarship I’m ready to make a meaningful impact in the lives of my future patients.” 

     

    MIL OSI USA News

  • MIL-OSI Security: Met Police and modern slavery charity work to protect victims of exploitation

    Source: United Kingdom London Metropolitan Police

    Met Police and modern slavery charity work to protect victims of exploitation

    The Metropolitan Police and Justice & Care have jointly worked to pursue the conviction of prolific sex trafficker Roland Cankaj to protect multiple victims of exploitation.

    Roland Cankaj, 43 (19.03.1981) of Western Gateway, Tower Hamlets, E16 appeared at Croydon Crown Court on Wednesday, 23 October where he was found guilty of multiple exploitation offences following a six day trial.

    The Met’s modern slavery team launched an investigation into an organised crime network named the ‘Cankaj Brotherhood’ in 2022 with intelligence leading to a group trafficking Brazilian women into the UK to be sexually exploited.

    The detailed investigation showed Cankaj renting an apartment in Tower Hamlets under a false passport. Officers begun to observe Cankaj’s movements and saw him drive young women to addresses and waiting outside in the car while the women went inside. He was also seen to be in the company of young women, taking provocative pictures of them outside London landmarks which were used to advertise sexual services. A brothel in Tower Hamlets, run by Cankaj, was uncovered – the rooms were sparsely furnished and contained items associated with sex work.

    As a result of the officer’s work, a total of six victims were identified and the Met worked closely with Justice & Care, the modern slavery charity, to support them.

    During an interview, one victim explained how she had worked as a beautician in Brazil and got into conversation with Cankaj about money. He arranged for her to come to the UK and moved her between various addresses to have sex with men she didn’t know before taking half the money – sometimes 10 to 15 men a day.

    As part of A New Met for London, the Met is doing more to support communities and people who’ve had their trust damaged. Officers are working to protect women and children from violence and exploitation and pursuing the predatory men who commit those crimes. Through targeted operations and partnerships with community organisations, the Met is working to create safer environments for women and girls across London.

    Detective Sergeant Andy Owen, who led the investigation, said:

    “Cankaj tricked these women into a false sense of security, making them believe that this exploitation was a way of them gaining financial freedom. In fact, he was the one financially benefitting, making a career out of orchestrating prostitution with vulnerable victims.

    “This was a complex investigation led by the Met and I am pleased our work has led to justice for these women. The key to our success was building the victim’s trust in the police -Justice & Care were integral in achieving this, providing support to these women who had spent years being exploited and ensuring they felt safe and supported to share their stories.

    “The Met are dedicated to protecting vulnerable people – we rely on information from our communities to continue tackling exploitation and modern slavery in London. If you’re suspicious about possible exploitation in your area, or you’re concerned about someone who may be a victim, please contact us.”

    Julie Currie, Victim Navigator Programme Coordinator at Justice & Care, who supported one of the victims said:

    ”We are proud to support the survivor to bring her trafficker to justice, and commend her bravery in supporting this case.

    “As this case shows, modern slavery is brutal and it is everywhere – with an estimated 122,000 victims currently trapped in exploitation in the UK.

    “Our Navigators are deployed into the heart of the Metropolitan Police, and many other police forces across the UK, and are often there from the moment a potential victim is identified to help them feel safe.

    “They work helping survivors to start to rebuild their lives and support them to engage with the criminal justice process.

    “This case is just one example of the incredible partnership between Justice and Care and the Metropolitan Police.

    ”Every member of the public can help us stop this crime by learning the signs of modern slavery and reporting concerns to police.”

    For more information and advice around spotting the signs of exploitation, visit: Human trafficking | Metropolitan Police

    Charges

    Cankaj was arrested on 20 April 2024 at London Stansted Airport and was subsequently charged with:

    • Two counts of arranging or facilitating travel of another person with a view of exploitation
    • Fraud by false representation
    • Possession of a controlled article for use in fraud

    He pleaded guilty to fraud by false representation and keeping a brothel for use in prostitution.

    He was found guilty on Wednesday, 23 October at Croydon Crown Court of arranging or facilitating the travel of another person with a view to exploitation.

    MIL Security OSI

  • MIL-OSI Security: Prince Albert — Prince Albert RCMP warning the public of dangerous persons

    Source: Royal Canadian Mounted Police

    Prince Albert RCMP is warning the public of dangerous persons involved in multiple vehicle robberies involving a firearm.

    On October 24, 2024 at approximately 8:30 a.m., Prince Albert RCMP received a report of a robbery north of Prince Albert, SK.

    Initial investigation determined that an individual was in a vehicle driving near the White Star elevator north of Prince Albert, SK when they were approached by multiple males in a vehicle.

    The individual was shot by the suspects. They have been transported to hospital with unknown injuries. The suspects stole the individual’s vehicle.

    The suspects are described as three or four males. They may be wearing black bandanas or black balaclavas. The suspects are believed to be armed with a gun and considered dangerous.

    They may be driving a white 2020 Dodge Ram with Saskatchewan license plate RNF 50. (Yes, there are only 5 characters.)

    The suspects are believed to be travelling near the intersection of Highways #55 and #123 near Prince Albert.

    More information to come. If in the Prince Albert and surrounding area: seek immediate shelter or shelter in place and close and lock doors and windows. Do not leave a secure location. Be cautious of someone asking for a ride. Do not pick up hitch hikers. Do not disclose police locations. Be cautious if not in the immediate described areas.

    The situation is rapidly unfolding and we will provide updates as soon as possible.

    MIL Security OSI

  • MIL-OSI Security: Musquodoboit Harbour — RCMP Halifax Regional Detachment confirms weapons-related threats at school to be unfounded

    Source: Royal Canadian Mounted Police

    RCMP Halifax Regional Detachment determined that threats to a school were unfounded, and were in fact related to a planned event involving foam dart guns.

    On October 23, at approximately 8:30 a.m., officers attended a school in Musquodoboit Harbour related to a report that a student made threats involving a weapon. The student was detained upon arrival at the school and was not in possession of weapons.

    Further investigation found that the comments perceived as threats were related to an upcoming event involving foam dart guns. The student was released by police and there will be no charges.

    The Nova Scotia RCMP takes school safety concerns seriously, and threats of violence are investigated thoroughly. Anyone with information or knowledge of threats to school communities is asked to contact their local police or 911 in an emergency so police can establish if a threat is credible. To remain anonymous, call Nova Scotia Crime Stoppers, toll-free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips app.

    MIL Security OSI

  • MIL-OSI: Federal Home Loan Bank of New York Announces Third Quarter 2024 Operating Highlights

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of New York (“FHLBNY”) today released its unaudited financial highlights for the quarter ended September 30, 2024.   

    “Throughout the first nine months of 2024, the Federal Home Loan Bank of New York has continued to successfully execute on our mission, meeting the needs of our members and working together to the benefit of the communities we all serve,” said José R. González, president and CEO of the FHLBNY.

    Highlights from the third quarter of 2024 include:

    • Net income for the quarter was $183.4 million, an increase of $1.5 million, or 0.8%, from net income of $181.9 million for the third quarter of 2023. Net interest income for the quarter was $237.2 million, a decrease of $5.3 million, or 2.2%, from $242.4 million in the third quarter last year. Non-interest income increased by $23.3 million in the third quarter of 2024 compared with the prior year’s quarter, mainly due to an increase in unrealized fair value gains on derivatives, hedged items and trading securities. Non-interest expense increased by $16.2 million to $68.4 million in the third quarter of 2024, primarily due to larger voluntary contributions for housing and community development initiatives and increases in headcount.
    • Return on average equity (“ROE”) for the quarter was 8.29% (annualized), compared to ROE of 9.13% for the third quarter of 2023.
    • As of September 30, 2024, total assets were $155.5 billion, a decrease of $2.8 billion, or 1.8%, from total assets of $158.3 billion at December 31, 2023.  As of September 30, 2024, advances were $106.4 billion, a decrease of $2.5 billion, or 2.3%, from $108.9 billion at December 31, 2023.   
    • As of September 30, 2024, total capital was $8.4 billion, an increase of $0.2 billion from total capital of $8.2 billion at December 31, 2023.  The FHLBNY’s retained earnings increased by $0.2 billion to $2.5 billion as of September 30, 2024, of which $1.3 billion was unrestricted retained earnings and $1.2 billion was restricted retained earnings.  At September 30, 2024, the FHLBNY met its regulatory capital ratios and liquidity requirements.
    • The FHLBNY allocated $20.4 million from its third quarter 2024 earnings for its Affordable Housing Program.

    The FHLBNY expects to file its Form 10-Q for the third quarter of 2024 with the U.S. Securities and Exchange Commission on or before November 7, 2024.

       
    Selected Balance Sheet Items (dollars in millions)  
      September 30,     December 31,        
      2024     2023     Change  
                     
    Advances $ 106,435     $ 108,890     $ (2,455 )
    Mortgage loans held for portfolio 2,308     2,180     128  
    Mortgage-backed securities 19,736     19,582     154  
    Liquidity assets 24,581     25,340       (759 )
    Total assets $ 155,454     $ 158,333     $ (2,879 )
                     
    Consolidated obligations $ 143,809     $ 145,476     $ (1,667 )
    Capital stock 6,014     6,050       (36 )
    Unrestricted retained earnings 1,309     1,277     32  
    Restricted retained earnings 1,178     1,061     117  
    Accumulated other comprehensive income   (85 )     (143 )   58  
    Total capital $ 8,416     $ 8,245     $ 171  
                     
    Capital-to-assets ratio (GAAP) 5.41 %   5.21 %      
    Capital-to-assets ratio (Regulatory) 5.47 %   5.30 %      
                     
                     
     
    Operating Results (dollars in millions)
      Three Months Ended
    September 30,
              Nine Months Ended
    September 30,
     
           
      2024     2023   Change     2024     2023   Change  
                                       
    Total interest income $ 2,316.6     $ 2,030.7     $ 285.9     $ 6,916.0     $ 6,264.1     $ 651.9  
    Total interest expense 2,079.4     1,788.3     291.1     6,166.1     5,517.2     648.9  
    Net interest income 237.2     242.4     (5.2 )   749.9     746.9     3.0  
    Provision (Reversal) for credit losses 0.1     (0.1 )   0.2     (0.7 )   1.8     (2.5 )
    Net interest income after provision for credit losses 237.1     242.5     (5.4 )   750.6     745.1     5.5  
    Non-interest income (loss) 35.1     11.8     23.3     88.2     70.7     17.5  
    Non-interest expense 68.4     52.2     16.2     188.5     153.3     35.2  
    Affordable Housing Program assessments 20.4     20.2     0.2     65.1     66.3     (1.2 )
    Net income $ 183.4     $ 181.9     $ 1.5     $ 585.2     $ 596.2     $ (11.0 )
                                       
    Return on average equity 8.29 %   9.13 %         9.09 %   9.54 %      
    Return on average assets 0.43 %   0.48 %           0.46 %   0.48 %        
    Net interest margin 0.56 %   0.64 %         0.59 %   0.60 %      
                                       

    Federal Home Loan Bank of New York
    The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of September 30, 2024, the FHLBNY serves 338 financial institutions and housing associates in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the FHLBNY is to provide members with reliable liquidity in support of housing and local community development.

    Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
    This report may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected,” “expects,” “may,” or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the Risk Factors set forth in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC, as well as regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to revise or update publicly any forward-looking statements for any reason.

    CONTACT:
    Brian Finnegan
    (212) 441-6877
    brian.finnegan@fhlbny.com   

    The MIL Network

  • MIL-OSI: WOOFi Swap to deliver institutional-grade liquidity on Solana

    Source: GlobeNewswire (MIL-OSI)

    KINGSTOWN, Saint Vincent and the Grenadines, Oct. 24, 2024 (GLOBE NEWSWIRE) — WOOFi, the omnichain decentralized exchange platform, has launched its Synthetic proactive market maker (sPMM) on the Solana network, supporting SOL and USDC trading pairs. This will strengthen Solana’s institutional-grade liquidity offerings, utilizing centralized market-making strategies while preserving the self-custody benefits of decentralized finance.

    “Solana is the largest hub of onchain users having surpassed Ethereum in volumes in 2024, and we can’t overstate how excited we are to be finally deploying there. Once we are confident with the initial liquidity provision strategies, WOOFi will scale to support more Solana-native assets, including staking derivatives like staked SOL (S-SOL) and other major tokens, as well as WOOFi Pro, the decentralized perp dex. This gradual rollout is strategic for ensuring a stable and impactful long-term presence for WOOFi on the Solana network,” said Ben Yorke, VP of Ecosystem.

    WOOFi’s long-term vision is to become a DeFi hub, offering services like spot trading, futures, and staking through a self-custody platform that mirrors the functionality of centralized exchanges. Already live across 11 EVM networks, WOOFi is building an omnichain platform where users can access trading and earning tools from their favorite chain, simplifying the process while ensuring network reliability.

    This deployment marks the start of WOOFi’s strategy to introduce institutional liquidity and advanced DeFi tools to Solana, optimizing performance and enhancing the overall user experience by leveraging Solana’s Rust-based infrastructure. As a high-performance, low-cost blockchain, Solana elevates WOOFi’s potential for growth. Solana aims to match the speed of traditional financial systems like NASDAQ, ensuring that critical market data reaches all users simultaneously without delay. The platform achieves this through the Nakamoto coefficient, which assesses the level of decentralization in a blockchain network.

    To learn more about WOOFi, download our app or visit WOOFi

    Contact us: media@woo.network

    About WOOFi
    WOOFi is a leading decentralized exchange (DEX) with over $42B in cumulative trading volume and more than 250k monthly active users. It supports 11 blockchains and offers a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi, WOO, can be staked to share 80% of all protocol fees.

    Disclaimer
    The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

    WOOFi does NOT endorse, guarantee, or provide advice for any products or services of its business partners. This cooperation shall in no event be interpreted as an assurance or guarantee for the airdrop of any tokens, whether presently existing or to be generated in the future, on WOOFi or any associated platforms, nor does it imply any commitment from WOOFi to airdrop any tokens on its platforms or others.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e48472e0-d7e9-4b3a-a526-98e87462085a

    The MIL Network

  • MIL-OSI: 3PLs Balance Decreasing Order Volumes and Rising Costs While Maximizing Technology and Capacity to Achieve New Industry Standards

    Source: GlobeNewswire (MIL-OSI)

    EL SEGUNDO, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) — Extensiv — a leading provider of warehouse, order, and inventory management software to the third-party logistics (3PL) industry and the brands they serve, today announced the results of its fifth annual Third-Party Logistics (3PL) Warehouse Benchmark Report. The readout is the only benchmark report focused exclusively on the 3PL warehouse industry. This year’s report revealed decreased order volume growth, increased profitability for those operating at high warehouse capacity (over 80% capacity), and a convergence between AI advancement and network fulfillment points for 2025.

    The Third-Party Logistics Warehouse Benchmark Report aggregates data from more than 250 3PL warehouses and provides insight on more than 30 industry-specific topics. The report builds on prior data and provides year-over-year changes and trends to help warehouses understand market growth opportunities and industry challenges.

    Key takeaways from the 2024 report include:

    • Adapting to Challenges is Key. The 3PL industry is navigating through tough times with slowing growth in order volumes and profitability (only 69% reported progress on profitability in 2024). Yet, businesses are showing resilience and adaptability. 3PL’s operating at larger scales seem to be best suited for navigating today’s market volatility.
    • AI is the Future. Artificial Intelligence (AI) is gaining traction, with significant interest in its applications for optimizing various aspects of warehouse operations. The number of respondents saying they were looking into AI rose sharply from 16% last year to 25% this year. While the industry is still exploring the best use cases, integrations with AI are looking like an inevitability.
    • Fourth-party Fulfillment Strategies. There is a clear trend towards adding warehouses to obtain geographic disbursement. The percentage of organizations with 2 to 5 warehouses has followed an upward trajectory by an average of 2% each year. This year, it sits at 51%. This growth also reflects a growing interest in utilizing fourth-party logistics (4PLs) to drive efficiency and reduce risk while strategically positioning inventory to better serve customers.
    • Optimizing Labor. While the percentage of 3PLs expecting to add workers is the lowest it has been in the past four years (57%), the focus has shifted to optimizing labor productivity through management tools and efficiency measures outside of a reliance on robotics. While worries about employee turnover are declining, ensuring maximum efficiency among workers is still top of mind for the industry.
    • Better Billing is Crucial. Cash flow is still king in 2024 and more 3PLs are looking to automate their billing processes to maintain financial stability. This year, the time spent billing customers increased, however those who spent less than 16 hours on billing and invoicing per month were 2.8 times more likely to see high profitability growth. With the correlation between time spent on billing and profitability, more 3PLs are looking for ways to leverage invoicing functions directly within their WMS.

    Other key areas of the report include an outlook for 2025, as well as trends and metrics related to growth opportunities, technology adoption, warehouse operations, and industry challenges. Despite concerns about decreasing order volume and cash flow constraints, 3PLs are approaching 2025 with resilience and optimism.

    “With this, the 5th edition of the 3PL Warehouse Benchmark Report, Extensiv equips 3PLs with the information needed to best navigate the evolving supply chain,” said Aaron Stead, CEO of Extensiv. “It further displays the market leadership position Extensiv holds and connection to the pulse of our industry.”

    To see more critical 3PL trends, download the 2024 Extensiv Third-Party Logistics Warehouse Benchmark Report here. For additional insight, listen to an on-demand discussion of the results.

    About Extensiv

    Extensiv, formerly 3PL Central, is a visionary technology leader focused on creating the future of omnichannel fulfillment. We partner with warehouse professionals and entrepreneurial brands to transform their fulfillment operations in the radically changing world of commerce and consumer expectations. Through our unrivaled network of more than 1,500 connected 3PLs and a suite of integrated, cloud-native warehouse management (WMS), order management (OMS), inventory management (IMS), and integration management software, we enable modern merchants and brands to fulfill demand anywhere with superior flexibility and scale without painful platform migrations as they grow. More than 25,000 logistics professionals and thousands of brands trust Extensiv every day to drive commerce at the pace that modern consumers expect. Learn more at www.extensiv.com.

    Media contact:
    Jill Hillen
    jhillen@extensiv.com

    The MIL Network

  • MIL-OSI: Rudy R. Miller Instrument Safety Currency Program (ISCP) Embry-Riddle Aeronautical University, College of Aviation, Prescott Campus

    Source: GlobeNewswire (MIL-OSI)

    SCOTTSDALE, Ariz., Oct. 24, 2024 (GLOBE NEWSWIRE) —  The Rudy R. Miller Instrument Safety Currency Program (ISCP) at Embry-Riddle Aeronautical University, College of Aviation, Prescott Campus, was created and funded by Mr. Miller in 2023, with students receiving simulator time starting in Spring 2024. The ISCP was created to build a curriculum that was compliant with federal regulations for instrument currency. Embry-Riddle’s training experts completed that curriculum which was then reviewed and validated by Embry-Riddle’s Chief Instructor, Ryan Albrecht. Once the process was completed and approved, the curriculum was uploaded into the flight systems for logging and tracking of activity.

    Embry-Riddle Aeronautical University, in coordination with the Prescott’s College of Aviation’s Flight Department and Flight Director, Parker Northrup, oversees the administration of the ISCP fund. This program supports flight students in their junior year flight course to maintain the skills they learned in their instrument rating course where focus is spent on learning commercial performance maneuvers and often allows instrument skills to degrade. The ISCP provides simulator time to update the instrument currency as required by Federal Aviation Regulations.

    ISCP RECIPIENTS SPRING 2024

    Christopher Gurule, Aeronautical Science Degree
    Kaleo Mendoza, Aeronautical Science Degree
    Joseph Molitor, Aeronautical Science Degree
    Reza Parva, Aeronautical Science Degree

    Parker Northrup, Chair, Flight Department, College of Aviation, Prescott Campus, said “Mr. Rudy Miller’s engagement and generosity are such a valuable addition to what we strive to do with our students.  ISCP allows us to selectively reinforce the safety culture that depends on maintaining those skills critical to safe instrument flying

    Rudy R. Miller commented, “I would like to thank Parker Northrup and Steve Bobinsky, executive director of philanthropy, for their time plus all their remarkable team members’ assistance in supporting this outstanding program for qualified students. I have really enjoyed working on this project over the past year and plan to stay involved.

    “The future is bright regarding all the numerous new projects, expansions, and improvements that Embry-Riddle, Prescott Campus, is executing, from my perspective. I am currently involved in a total of five Embry-Riddle projects with respect to my personal time involvement and various funding capabilities.”

    About Embry-Riddle Aeronautical University, Prescott Campus

    Embry-Riddle Aeronautical University, Prescott Campus, is organized into four colleges: College of Arts and Sciences, College of Aviation, College of Engineering, and College of Business, Security and Intelligence (the nation’s first), and offers bachelor of science degrees in applied science, aviation, business, computers & technology, engineering, security, intelligence & safety, and space. The Prescott campus also offers master’s degrees in Safety Science, Security & Intelligence, and Cyber Intelligence & Security. The programs in aeronautics, air traffic management, applied meteorology, and aerospace studies are certified by the Federal Aviation Administration (FAA) and is the nation’s first FAA-approved training provider for student airline certification.

    About Rudy R. Miller

    Mr. Rudy R. Miller, a former member of the U.S. Armed Forces, is an entrepreneur, philanthropist, and investor in numerous industries. Mr. Miller is Chairman, President, and CEO of Miller Capital Corporation, an affiliate of The Miller Group of entities; for more information, including Mr. Miller’s biography, visit www.themillergroup.net.

    In 2023, Mr. Miller was selected by Embry-Riddle Aeronautical University to join two influential advisory boards for both the College of Aviation and the College of Business, Security and Intelligence. In addition to joining the advisory boards at Embry-Riddle, he established scholarships for students at both colleges and set up a fund to support simulator training to improve commercial pilot safety, the Rudy R. Miller Instrument Safety Currency Program (ISCP). Mr. Miller instituted the annual Rudy R. Miller Business – Finance Scholarship Program in 2008 to support Arizona State University, W. P. Carey School of Business. Since inception, Mr. Miller has issued three additional ASU scholarships, not included in the annual award process, totaling 23 ASU scholarships to date. Mr. Miller had the honor to serve as a member of ASU’s Dean’s Council of 100, a national group of prominent business executives invited by the Dean to play a leadership role in shaping the future of the W. P. Carey School of Business.

    His philanthropic endeavors include support for the non-profit arts community, selective universities, athletic foundations, and veterans’ projects. He is a member-sponsor of the Army Historical Foundation and the National Museum of the U.S. Army located at Fort Belvoir, VA. He served as Chairman of the Advisory Board of Thunderbird Field II Veterans Memorial, Inc. (Tbird2), an organization that honors veterans, from 2018 until March 2024. Mr. Miller developed its aviation scholarship program and process in 2018 and served as the first Chairman of the Scholarship Committee until June 2023. Tbird2 offers scholarships at six colleges, for both veteran and non-veteran students, including two 4-year universities, Embry-Riddle Aeronautical University and Arizona State University, Ira A. Fulton Schools of Engineering.

    Embry-Riddle Aeronautical University photographer, Connor McShane,
    Director of Enrollment Multimedia, 928 777-6912

    Miller Capital Corporation
    Kristina Caylor
    Vice President Admin & Corporate Controller
    kcaylor@themillergroup.net
    602.225.0505

    Keaton S. Ziem
    Senior Communications Officer
    ziemk@erau.edu
    386.226.4838

    Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c327597f-75c9-4779-8d41-a0198005c64e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2c4c3dcc-9f44-4f68-9963-bda216c15103

    https://www.globenewswire.com/NewsRoom/AttachmentNg/40f71685-00ef-42f4-adbd-d5cefe243886

    The MIL Network

  • MIL-OSI: Northeast Bank Announces Dates for Fiscal 2025 First Quarter Earnings Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Maine, Oct. 24, 2024 (GLOBE NEWSWIRE) — Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2025 first quarter earnings results on Tuesday, October 29, 2024. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, October 30, 2024. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

    To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available via a live webcast, which can be viewed by accessing the Bank’s website at www.northeastbank.com and clicking on the Investor Relations section. To listen to the webcast, attendees are encouraged to visit the website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. Please note there is a slide presentation that will accompany the webcast. For those who cannot listen to the live broadcast, a replay will be available online for one year at www.northeastbank.com.

    About Northeast Bank

    Northeast Bank (NASDAQ: NBN) is a full-service bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.

    NBN-F

    For More Information:
    Richard Cohen, Chief Financial Officer
    Northeast Bank
    27 Pearl Street, Portland, ME 04101
    207.786.3245 ext. 3249
    www.northeastbank.com

    The MIL Network

  • MIL-OSI: WENDEL: Q3 2024 Trading Update

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE – OCTOBER 24, 2024

    Fully diluted1Net Asset Value of €184.5

    up +13.7 %2year-to-date (+5.3% since June 30)

    With the announced acquisition of Monroe Capital, Wendel dramatically expands its Asset Management platform and rebalances its business model towards more recurring cash flows and growth

    Fully diluted Net Asset Value3as of September 30, 2024: €184.5 per share

    • Fully diluted NAV per share up +16.1%4 since the start of the year when restating for the €4 dividend paid in May 2024 reflecting:
      • Strong increase in Bureau Veritas’ share price (+34% YTD)
      • Slight decrease in value of non-listed assets
      • Positive contribution of Asset Management activities (IK Partners), reflecting the increase in market multiples

    Very active implementation of new strategic directions and active portfolio rotation

    • Principal Investment:
      • €2.3 billion proceeds and value crystallization through the sale of 9% of Bureau Veritas’ share capital and the disposal of Constantia Flexibles
      • €0.7 billion invested including €625 million in Globeducate, closed on October 16
    • Asset Management:
      • €0.4 billion invested for the acquisition of 51% of IK Partners
      • $1.13 billion will be invested in equity to acquire 75% of Monroe Capital, as announced on October 22, 2024 (closing expected in the first half of 2025)

    Wendel Asset Management business is now a significant performance driver

    • Considering the announced acquisition of Monroe Capital, Wendel’s Asset Management platform will represent c.€31bn of AuM in private assets5
    • In 2025, Wendel AM business is expected to generate c.€160m6 of Fee Related Earnings (“FRE”) and c.€185m of total pre-tax profit in 2025
    • IK Partners Fee Paying AuM up +19% over the first 9 months of 2024

    Consolidated 9M 2024 sales of €5,918.1 million, up +14.6% overall and +8.9% organically

    • Very strong organic growth at Bureau Veritas (+10.4% over 9 months)
    • Solid growth at CPI (+7.9%)    
    • ACAMS (+8%) in total over 9 months, due to the earlier timing of a flagship conference than in 2023
    • Encouraging first 9 months for Stahl (+1.6% total growth), with Q3 (-4.7%) impacted by a mixed environment in its industry
    • Scalian: slight decrease of -0.2% over 9 months

    Strong financial structure and committed to remain Investment Grade

    • Debt maturity of 3.9 years with an average cost of 2.4%
    • LTV ratio at -6.8% as of September 30, 2024, and 18.9%7 on a pro forma basis
    • Pro forma total liquidity of €1.48 billion as of September 30, 2024, including €0.5 billion in cash and €875 million in committed credit facility (fully undrawn)
    Laurent Mignon, Wendel Group CEO, commented:

    “The first nine months of 2024 have been generating good value creation for shareholders, with fully diluted Net Asset Value growing by 13.7%, driven notably by Bureau Veritas’ strong stock price and operating performances.

    We continue to enhance our cash flow generation and value creation profile, by executing our strategic plan with determination, rigor and financial discipline, as demonstrated by the Monroe Capital acquisition, announced two days ago, while also focusing on premium assets in our principal investment activities, highlighted by the recent acquisition of Globeducate.

    Our transformation to a dual-strategy model is now well-grounded, with top partners in asset management such as IK Partners in private equity and now Monroe Capital in private credit.

    Following the investment in Globeducate and the announced acquisition of Monroe Capital, the priorities of Wendel’s teams are to create value on existing assets, to successfully build the private asset management platform around IK Partners and Monroe Capital, and to maintain a solid financial structure.”

    Wendel’s net asset value as of September 30, 2024: €184.5 per share on a fully diluted basis

    Wendel’s Net Asset Value (NAV) as of September 30, 2024, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

    Fully diluted Net Asset Value was €184.5 per share as of September 30, 2024 (see detail in the table below), as compared to €162.3 on December 31, 2023, representing an increase of +13.7% since the start of the year and +16.1% restated for the dividend paid in 2024. Compared to the last 20-day average share price as of September 30, the discount to the September 30, 2024, fully diluted NAV per share was -50.6%.

    Bureau Veritas contributed very positively to the increase in Net Asset Value: on September 30, its 20-day average share price was up strongly (+34.3%) compared to December 31, 2023. Impacts from share price movements from IHS Towers (-30.0%) and Tarkett (-2.8%) were negligible given the weight of Bureau Veritas in the NAV. Total value creation per share of listed assets was therefore +€26.1 over the first nine months of 2024 on a fully diluted basis.

    Unlisted assets’ contribution to the growth of the NAV was slightly negative over the first nine months of the year with a total change per share of -€1.2, reflecting a positive evolution of the market multiples and from bolt-on acquisitions, more than entirely offset by negative FX effect and selective downward revisions of outlooks for the current year (compared to December 31, 2023).

    Asset management activities were consolidated and accounted in the NAV for the first time at the end of June following the acquisition of IK Partners. There is no sponsor money included in the NAV yet, as no capital has been called. IK Partners’ valuation is up by €1.5 per share over the third quarter, driven by positive market multiples evolution.

    Cash operating costs and net financing results impacted NAV by -€1.2 over 9 months, as Wendel benefited from a positive carry. The impact of year-to-date share buybacks on fully diluted NAV per share is +€1.4 per share more as of September 30, 2024, than as of December 31, 2023. Other assets and liabilities impacted NAV by -€0.5.

    Total Net Asset Value increase amounted to €26.2 per share over the first nine months of the year before dividend payment.

    Fully diluted NAV per share of €184.5 as of September 30, 2024

    (in millions of euros)     09/30/2024 12/31/2023
    Listed investments Number of shares Share price (1) 3,800 3,867
    Bureau Veritas 120.3m/160.8m €29.9/€22.2 3,591 3,575
    IHS 63.0m/63.0m $3.1/$4.4 174 251
    Tarkett   €8.9/€9.1 35 40
    Investment in unlisted assets (2) 3,158 4,360
    Asset Management Activities (3) 449
    Other assets and liabilities of Wendel and holding companies (4) 95 6
    Net cash position & financial assets (5) 3,027 1,286
    Gross asset value     10,530 9,518
    Wendel bond debt     -2,386 -2,401
    IK Partners transaction deferred payment -131
    Net Asset Value     8,012 7,118
    Of which net debt     509 -1,115
    Number of shares     44,430,864 44,430,554
    Net Asset Value per share 180.3 €160.2
    Wendel’s 20 days share price average   €91.1 €79.9
    Premium (discount) on NAV -49.5% -50.1%
    Number of shares – fully diluted 42,469,744 43,302,016
    Fully diluted Net Asset Value, per share 184.5 €162.3
    Premium (discount) on fully diluted NAV -50.6% -50.8%

    (1)   Last 20 trading days average as of September 30, 2024, and December 31, 2023.

    (2)   Investments in unlisted companies (Stahl, Crisis Prevention Institute, ACAMS, Scalian, Wendel Growth as of September 30, 2024, also included Constantia Flexibles as of December 31, 2023). Aggregates retained for the calculation exclude the impact of IFRS16.

    (3)   IK Partners’ activity, no sponsor money has been called at this stage. It is therefore not included in the NAV at this stage.

    (4)   Of which 1,961,120 treasury shares as of September 30, 2024, and 1,128,538 treasury shares as of December 31, 2023.

    (5)   Cash position and financial assets of Wendel and holdings.

    Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.

    If co-investment and management LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 246 of the 2023 Universal Registration Document.

    Wendel’s Principal Investments’ portfolio rotation

    Since the beginning of the year, Wendel has realized a total of €2.3 billion in disposals for its own account and has invested €0.7 billion, reflecting the acceleration of the diversification of its investment portfolio, in line with the strategy announced a few months ago:

    • Wendel announced on January 4, 2024, that it had completed the sale of Constantia Flexibles, generating total net proceeds9 for Wendel of €1,121 million for its shares, i.e. a valuation over 10% higher than the latest NAV on record before the announcement of the transaction (as at March 31, 2023).
    • Wendel announced on April 5, 2024, that it had successfully completed the sale of 40.5 million shares in Bureau Veritas, representing c.9% of the Company’s share capital, for total proceeds of approximately €1.1 billion. The transaction was carried out at a price of €27.127, or a discount of 3% from the previous day’s share price.
    • Wendel Growth realized its investment in Preligens, a leader in artificial intelligence (AI) for aerospace and defence, generating net proceeds to Wendel of c.€14.6M, translating into a gross IRR of 28%10. In addition, Wendel Growth announced on June 11, 2024, the acquisition of a minority stake in YesWeHack through an equity investment of €14.5 million.
    • Wendel reinvested €43.7m in Scalian upon the acquisition of MANNARINO Systems & Software on June 21, 2024. This Canadian company is a leading engineering services specialist for advanced technology R&D for the aviation sector, primarily in North America, with recognized expertise in safety-critical embedded software and systems.
    • On October 16, 2024, Wendel completed the acquisition of c.50% of Globeducate, one of the world’s leading international K-12 education groups, from Providence Equity Partners. Wendel invested €625 million of equity, at an Enterprise Value of c.€2 billion11, to join Providence, and both firms will now own c.50% of the group.

    Wendel’s Asset Management platform evolution

    Acquisition of Monroe Capital dramatically expands Wendel’s Asset Management platform and rebalances its business model towards more recurring cash flows and growth

    Wendel announced on October 22 that it had entered into a definitive partnership agreement including the acquisition of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, and will invest in GP commitment for up to $200 million.

    For Wendel, the acquisition of a controlling stake in Monroe Capital, a private credit market leader focused on the U.S. lower middle market that has established an outstanding track record, would represent a significant and transformational advancement of the strategy it announced in March 2023 to develop its third-party asset management platform to complement its longstanding Principal Investment business.

    With IK Partners and Monroe Capital, Wendel’s third party asset management platform will reach c.€31 billion in AUM12, c.€ 455 million revenues, c.€160 million pre-tax FRE (c.€101 million in pre-tax FRE (Wendel share) by 2025 and is expected to reach €150 million (Wendel share) in pre-tax FRE by 2027 through double-digit organic growth.

    For more information, see the October 22, 2024, announcement on http://www.wendelgroup.com.

    Third Party Asset Management value creation and performance

    9 months 2024 performance

    Over the first nine months of 2024, IK Partners had particularly strong activity, generating a total of €126.4 million in revenue. Total Assets under Management (€13.3 billion, of which €3.3 billion of Dry Powder13) grew by 20% since the beginning of the year, and FPAuM14 (€9.0 billion) by 19%. Over the period, €1.7 billion of new funds were raised (IK X, PFIII and IK SO) and 7 exits have been announced, for over €1.2 billion.

    Sponsor money invested by Wendel

    Wendel committed €400 million in IK Partners funds, of which €300 million in IK X. These commitments have not yet been called.

    Principal Investment companies’ value creation and performance

    Listed Assets: 36% of Gross Asset Value

    Bureau Veritas – Strong Q3 2024 organic revenue growth; refocused portfolio with ongoing acquisitions acceleration, in line with the LEAP | 28 strategy; 2024 revenue outlook upgraded

    (Full consolidation)

    Revenue in the first nine months of 2024 totaled € 4,569.6 million, a 5.6% increase year-to-date.

    Revenue in the third quarter of 2024 amounted to € 1,547.9 million, an 8.8% increase compared to Q3 2023. Organic growth achieved a strong 13.0%, which led to 10.5% on a 9-month basis. The scope effect was a positive 0.5%, reflecting bolt-on acquisitions (contributing to +1.1%) realized in the past few quarters and partly offset by the impact of small divestments completed over the last twelve months (contributing to -0.6%). Currency fluctuations had a negative impact of 4.7%, due to the strength of the euro against most currencies.

    Three businesses delivered very strong organic growth: Marine & Offshore, up 13.2%, Industry, up 23.8%, and Certification, up 17.7%. Buildings & Infrastructure further recovered, up 9.3% organically in the third quarter (after 4.3% in the first half) while both Consumer Products Services and Agri Food & Commodities grew high-single digits organically, both reflecting improving market trends.

    Based on the 9-month performance, leveraging a healthy and growing sales pipeline and strong underlying market growth, Bureau Veritas now expects to deliver for the full year 2024:

    • 9 to 10% organic revenue growth (from “high single-digit” previously);
    • Improvement in adjusted operating margin at constant exchange rates;
    • Strong cash flow, with a cash conversion above 90%.

    For more information: https://group.bureauveritas.com

    Tarkett – Slight organic decrease year-to-date, with Q3 2024 solid organic sales growth of +2.4%, as Sports division grew at a sustained pace in the most important quarter of the year. Activity remained sluggish in flooring, particularly in EMEA and the CIS countries

    (Equity method)

    Revenue in the first nine months of 2024 amounted to €2,560.7 million, down by -1.2% compared to the same period of 2023, reflecting an organic decline of -0.4%. Sales prices remained stable over the financial year, i.e. -0.3% compared to the first nine months of 2023. In Q3 2024, Group net sales came to €1,002 million, up +1.8% compared to the third quarter of 2023. Organic growth reached +2.4%. Sales prices remained broadly stable over the year, with a slight decline of -0.5% compared to the third quarter of 2023.

    For more information: https://www.tarkett-group.com/en/investors/

    IHS Towers (not consolidated) – IHS Towers will report its Q3 2024 results in the coming weeks

    Unlisted Assets: 30% of Gross Asset Value

      Sales (in millions)
      9 months 2023 9 months 2024
    Stahl €677.3 €687.9
    CPI $103.6 $112.0
    ACAMS $67.9 $76.8
    Scalian €402.2 €401.3

    Stahl – Total sales up 1.6% for the first 9 months of 2024 on the back of Q3 market challenges in the leather market for automotive and luxury goods

    (full consolidation) 

    Stahl, the world leader in specialty coatings for flexible materials, posted total sales of €687.9 million in the first 9 months of 2024, representing a total increase of +1.6% over the period. Organically, sales were slightly down -0.4%, in a context of tougher markets in automotive and luxury goods, while FX contributed -1.3%. The acquisition of ICP Industrial Solutions Group (ISG) in March 2023 contributed positively (+3.3%) to total sales variation.

    Stahl Q3 sales were down -4.7% (-3.1% organically and -1.6% due to FX) linked to the weaker market performance of the automotive and luxury goods sectors, notably in August, which was a particularly quiet month this year as many Italian tanneries were inactive for a four-week period due to reduced activity.

    On September 27, Stahl completed the acquisition of WEILBURGER Coatings, a leading German-based manufacturer of water-based and energy cured coatings for the graphic arts and packaging industry. The transaction significantly strengthens Stahl’s packaging coatings division and supports its strategy to broaden its franchise for specialty coatings for flexible materials. This acquisition strengthens Stahl’s strategic position in Europe, positioning the company as the second-largest packaging coatings player in the region. WEILBURGER Coatings posted sales of €70 million in 2023 and has over 140 employees, primarily based in Germany.

    Stahl also announced it maintained its Platinum EcoVadis rating for the third consecutive year, reaffirming its commitment to sustainability. In August, Stahl was awarded the Living Wage certification strengthening its commitment to fair compensation and employee well-being.

    Crisis Prevention Institute reports +8.2% revenue as compared with 9M 2023

    (full consolidation)

    CPI recorded first nine months 2024 revenues of $112 million, up +8.2% compared to 9M 2023, or +8.1% organically (FX impact was +0.1%), resulting from the addition of new certified instructors across end markets and geographies, and strong consumption of training materials, signifying active training of broader staff throughout the Company’s primary customers in educational, healthcare and human services settings. The company’s year-to-date results include relatively flat year-over-year revenue for the third quarter, however, reflecting what management describes as a temporary, seasonal slowdown in new certified instructors and a difficult year-over-year comparison resulting from an unusually large enterprise program added in the third quarter of 2023.

    2024 continues to be a pivotal year for CPI in growing its impact and reach, including further global expansion with the opening of its first office in the United Arab Emirates, and new program launches, including Reframing Behavior, a new certification program designed to help educators build a more positive, supportive learning environment and prevent disruptive classroom behavior. In addition, regulatory and legislative actions continue to provide support for workplace violence prevention programs and related training, including expanded requirements in New York, Texas and California during 2024.

    ACAMS – ACAMS reports positive total growth amid accelerated transformation

    (full consolidation)

    ACAMS, the global leader in training and certifications for anti-money laundering and financial crime prevention professionals, reported year-to-date bookings of $78 million, roughly flat with reported bookings for the same period in 2023, and revenue of $77 million for the first nine months of 2024, representing 8% year-over-year growth. The results for the first nine months of 2024 reflect continued growth and market expansion in North America and Europe, largely offset by declines with customers in the Asia-Pacific region. As well, the year-to-date results include the impact of ACAMS’ flagship Las Vegas conference that was held in the third quarter of 2024 and fourth quarter of 2023. Excluding the impact of this timing difference would reduce year-over-year bookings and revenue growth for the nine months ending September 30, 2024, to -0.8% and +0.3%, respectively.

    The Company has made considerable progress in its transformation this year. Having largely completed its separation and transition to a stand-alone, independent company in 2023, ACAMS has made many investments instrumental to the Company’s future growth, including organizational changes led by the CEO, Neil Sternthal, who joined ACAMS in early 2024 and subsequently added several executives, including a new Chief Financial Officer and a Chief Revenue Officer, investments in the Company’s technology platform, business analytics and sales organizations, and new product development, most notably with the planned introduction of its Certified Anti-Fraud Specialist (CAFS) certification.

    Scalian – Slight decrease of total sales of -0.2% year-to-date, in a context of overall market slowdown

    (full consolidation since July 2023.)  

    Scalian, a European leader in digital transformation, project management and operational performance consulting, reported total revenues of €401.3 million over the first 9 months in a context of continued industry slowdown, in particular supply chain tensions in the aeronautic sector as well as the turndown of the European automotive sector. Sales are down by -2.5% organically and benefited from a positive scope effect of +2.3%.

    Scalian announced the acquisition of Dulin Technology in January 2024, a Spanish-based consulting firm specializing in cybersecurity for the financial sector, and MANNARINO Systems & Software in June 2024, a Canadian-based company that is a leading engineering services specialist with a unique know-how in advanced technology R&D for the aviation sector.

    Agenda

    Friday, December 6, 2024,

    2024 Investor Day.

    Wednesday, February 26, 2025

    Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release)

    Thursday, April 24, 2025

    Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

    Thursday, May 15, 2025

    Annual General Meeting

    Wednesday, July 30, 2025

    H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

    Appendix 1: Nine-month 2024 sales of Group companies

    Nine-month 2024 consolidated sales

    (in millions of euros) 9-month 2023 9-month 2024            Δ Organic Δ
    Bureau Veritas 4,328.0 4,569.6 +5.6% +10.4%
    Stahl (1) 677.3 687.9 +1.6% -0.4%
    Scalian (2) n.a. 409.3 n.a. n.a.
    Crisis Prevention Institute 95.6 103.1 +7.9% +8.1%
    ACAMS (3) 62.7 70.6 +12.6% +8.6%
    IK Partners(4) n.a. 77.6 n.a. n.a.
    Consolidated net sales (3)(4) 5,163.5 5,918.1 +14.6% +8.9%

    (1)   Acquisition of ICP Industrial Solutions Group (ISG) since March 2023 (sales’ contribution of €70.8M vs €62.7M as of 9M 2023)
    (2)   Scalian has a different reporting date to Wendel. Consequently, sale’s contribution corresponds to 9 months’ sales between October 1st 2023 and June 30 2024.
    (3)   The sales include a PPA restatement for an impact of -€0.5M (vs -€3.2M as of 9M 2023). Excluding this restatement, the sales amount to €71.3M vs. €66.1M as of 9M 2023. The total growth of +12.6% include a PPA effect of +4.5% and the conference revenue which generated $5,9M while this event occurred in Q4 2023 last year.        
    (4)   Contribution of five months of sales        
                                                                            

    Nine-month 2024 sales of equity accounted companies

    (in millions of euros) 9-month 2023 9-month 2024           Δ Organic Δ
    Tarkett(5) 2,592.6 2,560.7 -1.2% -0.4%

    (5)   Sales price adjustments in CIS countries are historically intended to compensate for currency movements and are therefore excluded from the “organic growth” indicator.

    Q3 2024 sales of Group companies

    Q3 2024 consolidated sales

    (in millions of euros) Q3 2023 Q3 2024             Δ Organic Δ
    Bureau Veritas 1,423.8 1,547.9 +8.8% +13.0%
    Stahl 234.3 223.3 -4.7% -3.1%
    Scalian (1) n.a. 131.1 n.a. n.a.
    Crisis Prevention Institute 42.0 41.2 -1.8% -1.0%
    ACAMS (2) 20.2 26.1 +29.1% +28.6%
    IK Partners n.a. 44.2 n.a. n.a.
    Consolidated net sales 1,720.2 2,013.8 +17.1% +10.6%

    (1)   Scalian has a different reporting date to Wendel. Consequently, sale’s contribution corresponds to 3 months’ sales between April 1st 2024 and June 30 2024.
    (2)   ACAMS Q3 2024 sales includes the conference which generated $5,9M, while this event occurred in Q4 2023 last year.                        

    Q3 2024 sales of equity accounted companies

    (in millions of euros) Q3 2023 Q3 2024           Δ Organic Δ
    Tarkett(3) 984.3 1,002.0 +1.8% +2.4%

    (3)   Sales price adjustments in CIS countries are historically intended to offset exchange rate movements, and are therefore excluded from the “organic growth” indicator.


    1 Fully-diluted NAV per share assumes all treasury shares are cancelled and a complementary liability is booked to account for all LTIP related securities in the money as of the valuation date.
    2 +13.7% compared with fully diluted NAV of €162.3 as of Dec. 31, 2023.
    3 Fully diluted of share buybacks and treasury shares. Without adjusting for dilution, NAV stands at €8,012m and €180.3 per share.
    4 Including the €4.0 per share dividend paid in 2024, and on a non-fully diluted basis NAV is up 15.0%.
    5 As of September 2024.
    6 c.€101m of FRE expected in 2025, Wendel share.

    7 Proforma of Globeducate acquisition (€-625m), sponsor money commitment in IK (€-400m), IK Partners transaction deferred payment (€-131m), Monroe Capital 75% acquisition (including estimated earnout) and GP commitments in Monroe Capital ($-200m for 2025).

    8 Proforma of Globeducate acquisition (€-625m), sponsor money commitment in IK (€-400m), IK Partners transaction deferred payment (€-131m), Monroe Capital 75% acquisition (including estimated earnout) and GP commitments in Monroe Capital ($-200m for 2025).

    9 Net proceeds after ticking fees, financial debt, dilution to the benefit of the Company’s minority investors, transaction costs and other debt-like adjustments.
    10 Gross IRR of 28%. Net IRR of 26%.
    11 EV including IFRS 16 impacts. Excluding IFRS 16, EV stands at c.€1.86 billion.
    12 As of September 2024

    13 Commitments not yet invested

    14 Fee Paying AuM

    Attachment

    The MIL Network

  • MIL-OSI NGOs: Whatever we lose we will come back

    Source: Médecins Sans Frontières –

    Amid the ongoing Israeli bombardment and incursions across southern Lebanon, countless families have been uprooted, many seeking refuge in the coastal city of Saida. Médecins Sans Frontières’ (MSF’s) mobile medical teams have been visiting several locations in the southern city, offering general healthcare, medication, and mental health support to people displaced by the violence. Here are some of the testimonies of our patients there:

    Hassan Zeineddine

    “There’s nothing like living in your own home,” reflects Hassan Zeineddine, 67, an internally displaced Lebanese man with hypertension. He and his wife fled Kfar Melki, in the south of Lebanon, after nearby Israeli bombardments, leaving with only the clothes on their backs. “My sons are also displaced, scattered across the country. That alone is a struggle, but what we are going through is similar to what everyone else is.”

    Having been uprooted three times during the recent escalations, Hassan, a retired employee who lost his pension and savings in the 2020 economic crisis, reminisces about the olive harvest and his deep connection to the land he was forced to leave behind.

    “There is nothing quite like the south,” he says. “Wherever we go, whatever we lose, and whatever we are offered, we will always come back. I lived through the 1982 Israeli invasion and remember the airstrikes on southern villages then. As we returned to our homes then, we will now.”

    Khadija

    Khadija, a Syrian refugee and mother of five, was displaced from Nabatieh with her family. “She’s fading right before my eyes,” says Khadija, pointing to her seven-year-old daughter, who she says suffers from stunted growth. She describes the harsh conditions in the open parking lot by the Saida coastline where they’ve sought refuge.

    “We never feel clean. People are competing over food here, and we don’t have enough clean water to wash. We go to the sea to relieve ourselves, but there are often men around.”

    Her children are battling various health issues and it’s breaking her spirit. “Sidra, 13, has asthma, Hiba, 7, weighs barely 10 kilograms, and Malak, my 8-month-old, has a fever and diarrhoea. I breastfeed her whenever I can, but it’s not always enough, and I can’t properly clean her bottles.”

    In a moment of despair Khadija admits, “Sometimes I wish we had stayed and died in an airstrike instead of living like this.”

    Um Mohammad

    Um Mohammad, a 40-year-old Syrian refugee displaced from Qsaibeh, in south Lebanon, has three daughters. She used to maintain her employer’s garden, landscaping and building fences around his land. The night she fled Qsaibeh, an airstrike landed dangerously close.

    She recalls joining the community with buckets of water to put out the fire, and then her employer told her it was time to leave. She packed a change of clothes for each of her daughters, aged 18, 6, and 4, and grabbed only a blanket, leaving behind the groceries she had just bought that day on her kitchen floor.

    Hala

    Hala, 24, is a Syrian refugee and mother of three—Yamen, 2, Rawan, 3, and Razan, 6. She fled from the coastal town of Adloun in south Lebanon amidst airstrikes and the sirens of ambulances. “We left with nothing. We escaped on a motorcycle, but it broke down here in Saida. My husband went back to retrieve our belongings, but everything was stolen.”

    Now, they rely on aid for food.

    “All my children are sick with vomiting and diarrhoea. Rawan, who has down syndrome, used to receive physical therapy to walk and move. We had high hopes that she would begin verbal communication through speech therapy soon, and she had made so much progress. But now, all that is gone. She requires lots of medications and is often bullied by other children for not being able to express herself.”

    Shams Al Mahmoud, Marimar, and Kazem

    Shams Al Mahmoud, whose first name means ‘sun’ in Arabic and is a Syrian refugee, remains as bright and warm as ever, despite the hardships she and her family have endured. Along with her children—Mimar, 24, Mimas, Kazem, 20, and Marimar,14—Shams was displaced from Kfar Roumane and now lives in a parking lot in Saida, southern Lebanon.

    With an endearing smile, she recounts the moments her family escaped Israeli airstrikes in the town they had called home for over a decade, fleeing for 12 hours on foot to finally find relative safety in Saida. A few days later, Kazem and one of his sisters made a dangerous trip back to their former home on a borrowed motorcycle to rescue their two kittens, Simba and Mimi.

    “We thought of them as we were leaving,” says Marimar, as she fondly strokes one of the kittens. “But the airstrikes were too close. I’m so relieved we could go back for them.”

    Najah Ashour

    Najah Ashour, a Syrian refugee living in south Lebanon, was displaced once again along with her daughters—Maya, 11, Lujain, 6, and Sary, 9 months—after airstrikes struck the southern town of Baisariyeh. She is among the 1.2 million people displaced by the ongoing Israeli bombardments. While the war affects everyone, minority groups like Syrian refugees, migrant workers, the elderly, and people with disabilities face even greater risks of discrimination and exclusion, further limiting their access to healthcare and humanitarian aid.

    MIL OSI NGO

  • MIL-OSI Global: ‘Our nuclear childhood’: the sisters who witnessed H-bomb tests over their Pacific island, and are still coming to terms with the fallout

    Source: The Conversation – UK – By Christopher Hill, Associate Professor (Research and Development), Faculty of Business and Creative Industries, University of South Wales

    Nuclear detonations were the backdrop to Teeua and Teraabo’s childhood. By the time the sisters were eight and four, the Pacific island on which they grew up, Kiritimati, had hosted 30 atomic and thermonuclear explosions – six during Operation Grapple, a British series between 1957 and 1958, and 24 during Operation Dominic, led by the US in 1962.

    The UK’s secretary of state for the colonies, Alan Lennox-Boyd, had claimed the Grapple series would put Britain “far ahead of the Americans, and probably the Russians too, in super-bomb development”. Grapple, the country’s largest tri-service operation since D-Day, also involved troops from Fiji and New Zealand. It sought to secure the awesome power of the hydrogen bomb: a thermonuclear device far more destructive than the atomic bomb.

    Britain’s seat at the top table of “super-bomb development” was emphatically announced in April 1958 with Grapple Y: an “H-bomb” 200 times more powerful than the bomb dropped on Hiroshima in 1945. This remains Britain’s largest nuclear detonation – one of more than 100 conducted by the UK, US and Soviet Union in 1958 alone.

    More than six decades later, the health effects on former servicemen based on Kiritimati, as well as at test locations in South and Western Australia, remain unresolved. Greater Manchester’s mayor, Andy Burnham, has called the treatment of UK nuclear test veterans “the longest-standing and, arguably, the worst” of all the British public scandals in recent history.




    Read more:
    Nobel peace prize awarded to Japanese atomic bomb survivors’ group for its efforts to free the world of nuclear weapons


    Unlike the Post Office, infected blood and Grenfell Tower inquiries in 2024, there has been no UK inquiry into British nuclear weapon tests in Australia and the Pacific. Yet veterans and their descendants maintain these tests caused hereditary ill-health effects and premature deaths among participants. The British government has been accused of hiding records of these health impacts for decades behind claims of national security.

    Over the past year, the life stories of British nuclear test veterans have been collected by researchers, including myself, for an oral history project in partnership with the British Library. Whether from a vantage point of air, land or sea, the veterans all recall witnessing nuclear explosions with startling clarity, as if the moment was seared on to their memories. According to Doug Herne, a ship’s cook with the Royal Navy:

    When the flash hit you, you could see the X-rays of your hands through your closed eyes. Then the heat hit you, and it was as if someone my size had caught fire and walked through me. To say it was frightening is an understatement. I think it shocked us into silence.

    British servicemen describe their nuclear test experiences. Video: Wester van Gaal/Motherboard.

    But what of the experiences of local people on Kiritimati? I have recently interviewed two sisters who are among the few surviving islanders who witnessed the nuclear tests. This is their story.

    ‘A mushroom cloud igniting the sky’

    At the start of Operation Grapple in May 1957, around 250 islanders lived on Kiritimati – the world’s largest coral reef atoll, slap bang in the centre of the Pacific Ocean, around 1,250 miles (2,000km) due south of Hawaii. The island’s name is derived from the English word “Christmas”, the atoll having been “discovered” by the British explorer James Cook on Christmas Eve 1777.

    In May 2023, I visited Kiritimati for a research project on “British nuclear imperialism”, which investigated how post-war Britain used its dwindling imperial assets and resources as a springboard for nuclear development. I sought to interview islanders who had remained on the atoll since the tests, including Teeua Tekonau, then aged 68. In 2024, I visited her younger sister, Teraabo Pollard, who lives more than 8,000 miles away in the contrasting surroundings of Burnley, north-west England.

    Far from descriptions of fear and terror, both Teeua and Teraabo looked back on the tests with striking enthusiasm. Teraabo recalled witnessing them from the local maneaba (open-air meeting place) or tennis court as a “pleasurable” experience full of “excitement”.

    She described having her ears plugged with cotton wool before being covered with a blanket. As if by magic, the blanket was then lifted to reveal a mushroom cloud igniting the night sky – a sight accompanied by sweetened bread handed out by American soldiers. So vivid was the light that Teraabo, then aged four, described “being excited about it being daytime again”.

    An Operation Grapple thermonuclear test near Kiritimati, 1957-58. Video: Imperial War Museums.

    In view of the violence of the tests, I was struck that Teeua and Teraabo volunteered these positive memories. Their enthusiasm seemed in marked contrast to growing concerns about the radioactive fallout – including those voiced by surviving test veterans and their descendants. As children, the tests seem to have offered the sisters a spectacle of fantasy and escapism – glazed with the saccharine of American treats and Disney films on British evacuation ships.

    Yet they have also lived through the premature deaths of family members and, in Teraabo’s case, a malignant tumour dating from the time of the tests. And there have been similar stories from other families who lived in the shadow of these very risky, loosely controlled experiments. Teraabo told me about a friend who had peeked out from her blanket as a young girl – and who suffered from eye and health problems ever since.

    ‘Only a very slight health hazard’

    Kiritimati forms part of the impossibly large Republic of Kiribati – a nation of 33 islands spread over 3.5 million square kilometres; the only one to have territory in all four hemispheres and, until 1995, on either side of the international date line. Before independence from Britain in 1979, Kiribati belonged to the Gilbert and Ellice Island Colony, which in effect made Kiritimati a “nuclear colony” for the purpose of British and American testing.

    In 1955, Teeua and Teraabo’s parents, Taraem and Tekonau Tetoa, left their home island of Tabiteuea, a small atoll belonging to the Gilbert group of islands in the western Pacific. They boarded a British merchant vessel bound for Christmas Island nearly 2,000 miles away. Setting sail with new-born Teeua in their arms, the family looked forward to a future cutting copra on Kiritimati’s British coconut plantation.

    The scale of this journey, with four young children, was immense. Just how the hundred or so Gilbertese passengers “managed to live [during the voyage] was better not asked”, according to one royal engineer who described a similar voyage a few years later. “There were piles of coconuts everywhere – perhaps they were for both food and drink.”



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    Within two years of their arrival, the family faced more upheaval as mother Taraem and her children were packed aboard another ship ahead of the first three sets of British nuclear tests in the Pacific. Known as Grapple 1, 2 and 3, they were to be detonated over Malden Island, an atoll some 240 miles to the south of Kiritimati – but still too close for the comfort of local residents.

    According to Teeua, the evacuation was prompted by disillusioned labourers brought to Kiritimati without their families, who went on strike after learning how much the British troops were being paid. But the islanders’ perspectives do not feature much in the colonial records, which give precedence to British disputes about logistical costs and safety calculations.

    The Grapple task force resolved that the safe limit set by the International Commission on Radiological Protection should be reduced, to limit the cost of evacuations. A meeting in November 1956 noted that “only a very slight health hazard to people would arise from this reduction – and that only to primitive peoples”.

    Shocking as this remark sounds, it is typical of the disregard that nuclear planners appear to have had, both for Indigenous communities and the mostly working-class soldiers. These lives did not seem to matter much in the context of Britain’s quest for nuclear supremacy. William Penney, Britain’s chief nuclear scientist, had bemoaned how critics during tests in Australia were “intent on thwarting the whole future of the British Empire for the sake of a few Aboriginals”.

    Tekonau, Teeua’s father, was one of the 30 or so I-Kiribati people to stay behind on Kiritimati during the Malden tests in May and June 1957. As one of the only labourers to speak English, he had gained the trust of the district commissioner, Percy Roberts, who invited Tekonau to accompany him during inspections of villagers’ houses in Port London, then the island’s only village. On one occasion, Teeua said, the islanders did not recognise her father as he had been given a “flat top” haircut like the Fijian soldiers. “This means he had a nice relationship with the soldiers,” she told me. “Thank God for giving me such a good and clever dad.”

    Since the initial tests did not produce a thermonuclear explosion, the task force embarked on further trials between November 1957 and September 1958, known as Grapple X, Y and Z. In view of expense and time, these were conducted on Kiritimati rather than Malden Island – and this time, the residents were not evacuated to other islands. Rather, families were brought aboard ships in the island’s harbour and shown films below deck.

    After these tests, the islanders returned to find the large X and Y detonations had cracked the walls of their homes and smashed their doors and furniture. One islander found their pet frigate bird, like so many of the wild birds on Kiritimati, had been blinded by the flash of Grapple Y. No compensation was ever paid to the islanders, although the Ministry of Supply did reimburse the colony for deterioration of “plantation assets”, including £4 for every damaged coconut tree (equivalent to £120 today).

    A month before Grapple Y, Teraabo was born. Her earliest and most vivid childhood memories are of the US-led Operation Dominic four years later, by which time evacuation procedures had been abandoned altogether.

    This series of tests was sanctioned by Britain in exchange for a nuclear-powered submarine and access to the Nevada Proving Grounds in the US – regarded as pivotal to the future of British weapons technology ahead of the signing of the Test Ban Treaty in October 1963, which would prohibit atmospheric testing.

    Dominic’s 24 detonations on Kiritimati – which usually took place after sunset around 6pm, between April and November 1962 – were “awesome”, according to Teraabo. Recalling the suspense as the “tannoy announced the countdown”, she described “coming out of cover [and] witnessing the bomb [as] an amazing experience … When the bomb set off, the brilliance of the light was tremendous.”

    Each explosion’s slow expiration would re-illuminate the Pacific sky. One, Starfish Prime, became known as a “rainbow bomb” because of the multi-coloured aurora it produced over the Pacific, having been launched into space where it exploded.

    So spectacular were these descriptions that I almost felt I had to suspend disbelief as I listened. At one point in my interview with Teraabo, she leaned in to reassure me that she had no interest in exaggerating these events: “I’m a very proud person,” she whispered, “I would never lie.”

    ‘In our blood’

    More than six decades on from the Grapple tests, I was sitting in Teeua’s kitchen in the village of Tabwakea (meaning “turtle”), near the northern tip of Kiritimati. I had driven here in a Subaru Forester, clapped-out from the many potholes on the island’s main road, itself built by royal engineers over 60 years ago.

    Teeua Tekonau in her kitchen during the author’s visit to Kiritimati in 2023.
    Christopher R. Hill., CC BY

    Teeua’s home, nestled down a sand track, had a wooden veranda at the front where she would teach children to read and write under shelter from the hot equatorial sun. Handcrafted mats lined the sand and coral floor, fanning out from the veranda to the kitchen at the back.

    The house felt full of the sounds of the local community, from the chatter of neighbours to the laughter of children outdoors. No one could feel lonely here, despite the vastness of the ocean that surrounds Kiritimati.

    As Teeua cooked rice and prepared coffee, we discussed the main reason for my visit: to understand the impacts of the nuclear tests on the islanders, their descendents, and the sensitive ecosystem in which they live. Teeua is chair of Kiritimati’s Association of Atomic Cancer Patients, and one of only three survivors of the tests still living on Kiritimati. She pulled up a seat and looked at me:

    Many, many died of cancer … And many women had babies that died within three months … I remember the coconut trees … when you drank [from the coconuts], you [were] poisoned.

    Both Teeua’s parents and four of her eight siblings had died of cancer or unexplained conditions, she said. Her younger brother, Takieta, died of leukaemia at the age of two in November 1963 – less than a year after Operation Dominic ended. Her sister Teraabo, who discovered a tumour in her stomach shortly after the trials, was only able to have her stomach treated once she moved to the UK in 1981, by which time the tumour had turned malignant.

    Teeua’s testimony pointed to the gendered impacts of the nuclear tests. She referred to the prevalence of menstrual problems and stillbirths, evidence of which can be inferred from the testimony of another nuclear survivor, Sui Kiritome, a fellow I-Kiribati who had arrived on Kiritimati in 1957 with her teacher husband. Sui has described how their second child, Rakieti, had “blood coming out of all the cavities of her body” at birth.

    A rare military hospital record from 1958 – stored in the UK’s National Archives at Kew in London – also refers to the treatment of a civilian woman for ante-partum haemorrhage and stillbirth, though it is unclear whether this was a local woman or one of the soldier’s wives on the passenger ship HMT Dunera, which visited briefly to “boost morale” after Grapple X.

    Members of the Kiritimati Association of Atomic Cancer Patients.
    Courtesy: Teeua Taukaro., CC BY-ND

    Having re-established the Association of Atomic Cancer Patients in 2009, Teeua has continued much of the work that Ken McGinley, first chair of the British Nuclear Tests Veterans Association, did after its establishment in 1983. She has documented the names of all I-Kiribati people present during the tests, along with their spouses, children and other relatives. And she has listed the cancers and illnesses from which they have suffered.

    In the absence of medical records at the island hospital, these handwritten notes are the closest thing on the atoll to epidemiological data about the tests. But according to Teeua, concerns about the health effects of the tests date back much longer, to 1965 when a labourer named Bwebwe spoke out about poisonous clouds. “Everyone thought he was crazy,” Teeua recalled.

    But Bwebwe’s speculations were lent credibility by Sui Kiritome’s testimony, and by the facial scars she bore that were visible for all to see. In an interview with her daughter, Sui explained how she was only 24 when she started to lose her hair, and “burns developed on my face, scalp and parts of my shoulder”.

    In a similar manner to claims made by British nuclear test veterans, Sui attributed her health problems to being rained on during Grapple Y – which may have been detonated closer to the atoll’s surface than the task force was prepared to admit.

    When I asked Teeua why her campaigning association was only reformed in 2009, she explained it had been prompted by a visit from British nuclear test veterans who “told us that everyone [involved in the tests] has cancer – blood cancer”. They had been told this in the past but, she said, “we did not believe it. But after years … after our children [also] died of cancer, then we remembered what they told us.”

    After some visiting researchers explained to Teeua and the community that the effects of the tests were “not good”, she concluded that “our kids died of cancer because of the tests … That’s why we start to combine together … the nuclear survivors, to talk about what they did to our kids”.

    I found Teeua’s testimony deeply troubling: not only because of the suffering she and other families have been through, but in the way that veterans had returned to Kiritimati as civilians, raising concerns among locals that may have lain dormant or been forgotten. The suggestion that radiation was “in her blood” must have been deeply disturbing for Teeua and her community.

    But I reminded myself that the veterans who came looking for answers in 2009 were also victims. They made the long journey seeking clues about their health problems, or a silver bullet to prove their government’s deception over the nuclear fallout.

    As young men, they were unwittingly burdened with a lifetime of uncertainty – compounded by endless legal disputes with the Ministry of Defence or inconclusive health studies that jarred with their personal medical histories. And, like the islanders, some of these servicemen died young after experiencing agonising illnesses.

    The scramble for the Pacific

    My research on British nuclear imperialism also sheds light on how imperial and settler colonial perceptions of “nature” shaped how these nuclear tests were planned and operationalised.

    British sites were selected on the basis of in-depth environmental research. When searching the site for Britain’s first atomic bomb (the Montebello Islands off the west coast of Australia), surveyors discovered 20 new species of insect, six new plants, and a species of legless lizard.

    Monitoring of radioactive fallout from nuclear tests fed into the rise of ecosystem ecologies as an academic discipline. In the words of one environmental specialist on the US tests, it seemed that “destruction was the enabling condition for understanding life as interconnected”.

    Since H-bombs would exceed the explosive yield deemed acceptable by Australia, Winston Churchill’s government in the mid-1950s had been forced to look for a new test site beyond Western and South Australia. British planners drew on a wealth of imperial knowledge and networks – but their proposal to use the Kermadec Islands, an archipelago 600 miles north-east of Auckland, was rejected by New Zealand on environmental grounds.

    So, when Teeua and her family landed on Kiritimati in 1955, their journey was part of “the scramble for the Pacific”: a race between Britain and the US to lay claim to the sovereignty of Pacific atolls in light of their strategic significance for air and naval power.

    The British government archives include some notable environmental “what ifs?” Had the US refused the UK’s selection of Kiritimati because of its own sovereignty claim, then it would have been probable, as Lennox-Boyd, Britain’s colonial secretary, admitted, that “the Antarctic region south of Australia might have to be used” for its rapidly expanding nuclear programme.

    Instead, this extraordinary period in global history recently took me to a Victorian mansion in the Lancashire town of Burnley, where I interviewed Teeua’s younger sister, Teraabo, about her memories of the Kiritimati tests.

    ‘No longer angry’

    Teraabo’s home felt like the antithesis of Teeua’s island abode 8,300 miles away: ordered instead of haphazard, private instead of communal, spacious instead of crowded. And our interview had a more detached, philosophical tone.

    Teraabo Pollard with her father’s nuclear test veteran medal.
    Christopher R. Hill., CC BY-ND

    Like her sister, Teraabo has worked to raise awareness about the legacy of the nuclear tests, including with the Christmas Island Appeal, an offshoot of the British Nuclear Test Veterans Association that sought to publicise the extent of the waste left on Kiritimati from the nuclear test period.

    The appeal succeeded in persuading Tony Blair’s UK government to tackle the remaining waste in Kiritimati – most of which was non-radiological, according to a 1998 environmental assessment. The island was “cleaned up” and remediated between 2004 and 2008, at a cost of around £5 million to the Ministry of Defence. Much of the waste was flown or shipped back to the UK, where 388 tonnes of low-grade radioactive material were deposited in a former salt mine at Port Clarence, near Middlesbrough.

    Yet Teraabo’s views have evolved. She told me she is “no longer angry” about the tests, a stark contrast to her position 20 years ago, when she told British journalist Alan Rimmer how islanders had “led a simple life with disease virtually unknown. But after the tests, everything changed. I now realise the whole island was poisoned.”

    Whereas the Teraabo of 2003 blamed “the British government for all this misery”, she has since become more reflective. In the context of the cold war and the nuclear arms race, she even told me she could understand the British rationale for selecting Kiritimati as a test site. This seemed a remarkable statement from a survivor who had lost so much.

    Over the course of the interview, it became clear Teraabo had grown tired of being angry – and that she had felt “trapped” by the tragic figure she was meant to represent in the campaigns of veterans and disarmers. Each time Teraabo rehearsed the doom-laden script of radiation exposure, she admitted she was also suppressing the joy of her childhood memories.

    A turning point for Teraabo seems to have come in 2007, when she last visited Kiritimati and met her sister Teeua. By this time, the atoll’s population was 4,000 – quite a leap from the 300 residents she grew up with. “It is no longer the island I remember,” she said.

    The Kiritimati of Teraabo’s memory was neat and well-structured. The one she described encountering in 2007 was chaotic and unkempt. She had come to the realisation that the Kiritimati she had been campaigning for – the pristine, untouched atoll of her parents – had long since moved on, so she should move on with it. The sorrow caused by the test operations would not define her.

    Radioactive colonialism

    Not long after I left Kiritimati in June 2023, the global nuclear disarmament organisation Ican began researching the atoll ahead of a major global summit to discuss the UN Treaty on the Prohibition of Nuclear Weapons. Descendants of Kiritimati’s nuclear test survivors were asked a series of questions, with those who provided the “right” answers being selected for a sponsored trip to UN headquarters in New York.

    The chosen representatives included Teeua’s daughter, Taraem. I wondered if the survivors of Kiritimati are doomed to forever rehearse the stories of their nuclear past – a burden that Teeua and Teraabo have had to carry ever since they stood in awe of atomic and thermonuclear detonations more than 60 years ago.

    They have had to deal with “radioactive colonialism” all their adult lives – the outside world demanding to see the imprint of radioactivity on their health and memories. But the sisters’ fondness for British order, despite all they have been through, prevails.

    Their positive memories of Britain may in part reflect the elevated role of their father, Tekonau Tetoa – a posthumous recipient of the test veteran medal – within the British colonial system. During my visit, I happened upon an old photo of Tekonau, looking immaculate as he hangs off the side of a plantation truck in a crisp white shirt. Knowing Teeua did not possess a photo of her parents, I took a scan and raced to her house down the road.

    “Do you recognise this man?” I asked, holding up my phone.

    She flickered with recognition. “Is that my father?”

    I nodded, and she shed a tear of joy.

    Tekonau Tetoa, father of Teeua and Teraabo, hangs off the door of a coconut plantation truck in Kiritimati.
    Courtesy: John Bryden., CC BY-ND

    Memories of Teeua and Teraabo’s father are preserved in the island landscape of their youth: pristine, regimented by the ostensible tidiness of colonial and military order.

    But such order masked contamination: an unknown quantity that would only become evident years later in ill-health and environmental damage. It was not only the nuclear tests: from 1957 to 1964, the atoll was sprayed four times a week with DDT, a carcinogenic insecticide, as part of attempts to reduce insect-borne disease. In the words of one of the pilots: “I had many a wave from the rather fat Gilbo ladies sitting on their loos as I passed overhead, and gave them some spray for good measure!” British tidiness concealed a special brand of poison.

    Today, the prospect of a meaningful response from the UK to the concerns raised by the islanders and servicemen alike seems slim. In October 2023, the UK and France followed North Korea and Russia in vetoing a Kiribati and Kazakhstan-proposed UN resolution on victim assistance and environmental remediation for people and places harmed by nuclear weapons use and testing.

    Over in Kiritimati, meanwhile, Teeua still tends to a small plot where Prince Philip planted a commemorative tree in April 1959, shortly after the British-led nuclear tests had ended. It is rumoured he did not drink from the atoll’s water while he was there.



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    Christopher Hill receives funding from the Office for Veterans’ Affairs, UK Cabinet Office. The research for this article was also supported by funding from the Arts and Humanities Research Council (AHRC), UKRI. The author wishes to thank the following for their support with this article: Fiona Bowler, Ian Brailsford, Joshua Bushen, John Bryden, Jon Hogg, Brian Jones, Rens van Munster, Wesley Perriman, Maere Tekanene, Michael Walsh, Rotee Walsh and Derek Woolf. Sincere thanks to Teeua Tekonau and Teraabo Pollard for sharing their family stories.

    ref. ‘Our nuclear childhood’: the sisters who witnessed H-bomb tests over their Pacific island, and are still coming to terms with the fallout – https://theconversation.com/our-nuclear-childhood-the-sisters-who-witnessed-h-bomb-tests-over-their-pacific-island-and-are-still-coming-to-terms-with-the-fallout-239780

    MIL OSI – Global Reports

  • MIL-OSI Global: King Charles heckled in Australia: the crown’s role in Indigenous rights in the Commonwealth

    Source: The Conversation – UK – By Philip Murphy, Director of History & Policy at the Institute of Historical Research and Professor of British and Commonwealth History, School of Advanced Study, University of London

    That the recent visit of King Charles to Australia – his first as the country’s sovereign – attracted protests will have come as a surprise to very few people.

    The right-wing press in the UK anticipated some kind of snub to Charles from republican, “woke leftist” Australians. The palace had prepared the ground for the visit in a letter to the non-partisan independence group the Australian Republican Movement which repeated its longstanding position that, as with any of the other Commonwealth realms, the question of whether the country became a republic was “a matter for the Australian public to decide”.

    But the message from the most prominent protester was, perhaps, less expected. At the end of a speech by the king at Parliament House in Canberra on October 21, he was heckled by Lidia Thorpe, an independent senator of Aboriginal (Djab Wurrung, Gunnai and Gunditjmara) origin.

    She told him: “You committed genocide against our people. Give us our land back. Give us what you stole from us – our bones, our skulls, our babies, our people.”

    Earlier in the day, Thorpe had issued a statement outlining her position. In it, she claimed:

    As First Peoples, we never ceded our Sovereignty over this land. The crown invaded this country, has not sought treaty with First Peoples, and committed a genocide of our people. King Charles is not the legitimate sovereign of these lands. Any move towards a republic must not continue this injustice. Treaty must play a central role in establishing an independent nation. A republic without a treaty must not happen.

    Historic treaties

    The recognition of the rights of Aboriginal peoples through a formal treaty has been a demand of Australian indigenous rights campaigners for decades. Indeed, Australia is unusual among British settler colonies in the failure of the crown to forge treaties with Indigenous peoples in the process of imperial occupation. In New Zealand and Canada these treaties continue to be invoked as an historical underpinning of indigenous rights.

    The 1840 Treaty of Waitangi between Māori leaders and the crown as well as the rights and principles that followed from it are certainly politically contentious in New Zealand. Yet the Treaty is still widely regarded as the country’s founding document and a key symbolic basis for inclusion and reconciliation.

    In Canada, the treaties signed by the crown with First Nations peoples are explicitly referenced in the country’s 1982 constitution and are cited by the Canadian government as “a framework for living together and sharing the land Indigenous peoples traditionally occupied.”

    It should not come as much of a surprise that the issue of the the absence of similar treaties in Australia has been raised during the king’s visit. The rather dull itineraries of royal visits provide activists with a perfect opportunity to have their voices heard by journalists desperate for something interesting to write about. There is a history of Aboriginal protesters using them in this way.

    In 1972, the Larrakia people, the traditional owners of the Darwin region in the Northern Territory, used a visit by Princess Margaret to draw attention to a petition asking Queen Elizabeth II to assist them in their demand for land rights and political representation.

    The palace and the governments of the Realms are keenly aware of these sensitivities and plan royal tours accordingly. During his visit to Canada in 2022, for example, while he was still Prince of Wales, Charles made a point of meeting the survivors of the country’s notorious residential schools where thousands of indigenous children suffered abuse.

    Ironically, indigenous treaties with the crown have complicated the republican issue, forcing campaigners for a republic in both New Zealand and Canada to offer assurances that the rights and obligations in those treaties would not be lost if the monarchy was to be abolished.

    The question of reparations

    Charles has followed his Australia visit by flying to Samoa for the summit of the Commonwealth Heads of Government. Again, the UK press sensed trouble ahead, predicting that as head of the Commonwealth Charles might be caught up in a row between the British government and Caribbean nations over the call for reparations for slavery.

    The UK is not the only government in the Commonwealth having to wrestle with colonial legacy issues. But there is no avoiding them.

    Britain has a monarchy steeped in imperial history, with a king who is quite separately sovereign of 14 other realms. Its government continues to profess a belief in the value of the Commonwealth, when its members have little else in common except that most of them were colonised by Britain.

    A recent report by the UK thinktank Policy Exchange, which imagined the Commonwealth playing a greater role in British diplomatic, defence and trade policy, seemed blithely unaware of the tensions within the organisation and the barriers to collective action.

    In a similar vein, UK prime minister Keir Starmer has claimed that he wants to “look forward” and focus on issues such as climate change and boosting prosperity rather than reparations.

    But the Commonwealth is simply not a logical framework for the discussion of these matters. On the other hand, it is uniquely qualified to debate the impact of colonialism and the question of reparatory justice. And even if Britain doesn’t want to have that conversation, other Commonwealth countries certainly do.

    Philip Murphy has received funding from the AHRC. He belongs to the European Movement UK.

    ref. King Charles heckled in Australia: the crown’s role in Indigenous rights in the Commonwealth – https://theconversation.com/king-charles-heckled-in-australia-the-crowns-role-in-indigenous-rights-in-the-commonwealth-241993

    MIL OSI – Global Reports

  • MIL-OSI Video: Vuk Talks season 2 episode 24: ADV Richard Sizani

    Source: Republic of South Africa (video statements-2)

    ADV Richard Sizani talks about the implementation of the South African Electoral System reforms

    https://www.youtube.com/watch?v=EFojFnmYrTo

    MIL OSI Video

  • MIL-OSI USA: Ernst, Hinson Work to Ensure Rural Access to Safe Contraception

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa) and Congresswoman Ashley Hinson (R-Iowa) are requesting information on the availability of birth control options to ensure Iowa families, especially in rural areas, have access to safe and effective contraception.
    After data from 2017 revealed just 24 percent of all Community Health Centers (CHCs) in the country provide a comprehensive list of contraception options for patients to review on-site, the lawmakers specifically inquired about options available through Federally Qualified Health Centers (FQHCs), which serve rural areas. 
    “Families deserve access to safe and effective birth control when they visit their health care provider, regardless of where they live. To ensure rural areas are not overlooked, I’m working to identify the barriers that leave communities with fewer contraception options. We can build upon this fact-finding mission to address the real gaps in services that Iowa families are facing,”said Senator Joni Ernst.
    “Ensuring women, regardless of zip code, have access to safe birth control options is vital for women’s health and family planning. Unfortunately, women in rural and underserved areas often have fewer contraception options. I’m working with Senator Ernst to expand access to safe birth control options for adult women who rely on Community Health Centers for care,”said Congresswoman Ashley Hinson.
    “Increased access to family planning services has proven to reduce the rate of unintended pregnancies, reduce the spread of sexually transmitted diseases, and reduce rates of infertility and maternal mortality. The limited information that is available also indicates that women in rural communities are facing a significant lack of access. With millions of women in the United States living in areas with limited contraceptive access, it’s imperative we understand the deficiencies and why they exist,” the lawmakers wrote.
    In the letter to the U.S. Government Accountability Office, the lawmakers requested:
    An itemized inventory of available contraception,
    Annual family planning counseling appointment requests and rates of return,
    Expenditures of federal funds to reimburse facilities for contraception methods,
    Financial resources and contraceptive options offered, and
    Any additional barriers, including geographic, to those who wish to provide a wider range of contraceptive methods to patients.
    Background:
    Since 2017, Ernst has been working to provide access to safe and effective over-the-counter birth control. This year, her Allowing Greater Access to Safe and Effective Contraception Act has gained support.

    MIL OSI USA News

  • MIL-OSI United Kingdom: Reappointment of Immigration Services Commissioner

    Source: United Kingdom – Executive Government & Departments

    John Tuckett, Immigration Services Commissioner, has been reappointed for a second 5 year term.

    John Tuckett, the Immigration Services Commissioner, has been reappointed for a second term of 5 years with effect from 7 July 2024.

    The Commissioner is the head of Office of the Immigration Services Commissioner (OISC) and has statutory regulatory, complaint handling and law enforcement responsibilities in respect of the provision of immigration advice and services in the UK.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Canada: Canadian Coast Guard strengthens ties with key international maritime partners 

    Source: Government of Canada News (2)

    The Canadian Coast Guard works closely with partners every day to protect mariners, safeguard the environment, and keep waterways open.

    October 24, 2024

    Ottawa, Ontario – The Canadian Coast Guard works closely with partners every day to protect mariners, safeguard the environment, and keep waterways open. These partnerships at the community, provincial, territorial, national, and international levels are key to providing service to Canadians. The Canadian Coast Guard is always looking to strengthen those partnerships and, as such, has recently signed two new agreements with international partners.

    On October 18, 2024, the Canadian Coast Guard signed a Memorandum of Understanding with the World Maritime University in Malmö, Sweden. It aims to strengthen collaboration in maritime and oceans education, training, and research. The five-year agreement will pave the way for innovative joint initiatives in maritime studies. This partnership reflects a shared commitment to sustainability, and fostering innovative solutions for the global maritime industry.

    The Canadian Coast Guard College and World Maritime University share close ties, as two world-leading maritime education facilities. They work together through exchange programs, information sharing, and joint testing projects, including the testing of alternative, bio-friendly types of fuel for future vessels for both Canada and Sweden.

    On October 24, 2024, the Canadian Coast Guard signed a second Memorandum of Understanding with the International Group of Protection and Indemnity Clubs in Ottawa, Ontario. The International Group of Protection and Indemnity Clubs is responsible for insuring over 90% of global cargo at sea. The agreement will lead to more timely engagement with shipowner representatives during incidents, and as a result will ensure more effective and efficient response to future marine pollution incidents.

    This includes containment and clean-up of oil discharges and hazardous substances in Canadian waters. The Canadian Coast Guard’s Compliance and Enforcement Program notifies vessel owners of any pollution threats or hazards, and ensures they take responsibility. Where necessary, the Canadian Coast Guard steps in to manage the situation, using a wide range of tools and equipment to mitigate the hazard, clean up the spill, and mitigate any potential environmental impacts.

    MIL OSI Canada News

  • MIL-OSI USA: Smucker Named Friend of the Farm Bureau

    Source: United States House of Representatives – Representative Lloyd Smucker (PA-16)

    Fawn Grove, PA – Rep. Lloyd Smucker (PA-11) has been named a recipient of the Friend of the Farm Bureau Award for the 118th Congress, given to Members of Congress who support legislation benefiting agriculture, farmers, and producers.

    Rep. Smucker received the award during a visit to Maple Heights Farm in Fawn Grove, a third-generation grain farm operated by Julie Schrum, a member of the Pennsylvania Farm Bureau (PFB) Board of Directors.

    “The men and women of Pennsylvania’s 11th Congressional District, home to the Garden Spot of America and one of the largest agricultural districts in our Commonwealth, can count on me to advocate for policies in Congress that support farmers and producers. Our agricultural heritage is at the heart of our community. I will continue to fight for a Farm Bill that supports our community and farmers across the nation, as well as a pro-growth tax agenda that helps family-owned farms compete and be passed down from generation to generation,” said Rep. Lloyd Smucker (PA-11).

    “On behalf of Pennsylvania Farm Bureau, the state’s largest general farm organization, we would like to thank these members of Pennsylvania’s congressional delegation for supporting legislation that benefits agriculture,” said PFB President Chris Hoffman.

    “The support from our Friend of Farm Bureau recipients helps preserve the future of family farms in Pennsylvania, maintain our ability to produce safe and affordable food for consumers, and provide resources to assist farmers in implementing conservation practices on the farm. With record-high input costs and an increase in red tape, farm families have been greatly challenged in recent years. Continued support by lawmakers to implement sound agricultural policy is vital to ensure food and national security.”

    Rep. Smucker is one of only seven of Pennsylvania’s elected officials who were selected to receive the award for the 118th Congress. Smucker has been named a recipient of the Friend of the Farm Bureau during each term of his congressional service.

    # # # 

    MIL OSI USA News

  • MIL-OSI USA: Wexton Announces $40 Million in Federal Infrastructure Law Funding for New Dulles Airport Terminal Project

    Source: United States House of Representatives – Congresswoman Jennifer Wexton (D-VA)

    Washington, DC – Today, Congresswoman Jennifer Wexton (D-VA) announced a new $40 million grant from the Bipartisan Infrastructure Law’s Airport Terminals Program (ATP) to aid in the construction of Washington Dulles International Airport’s new 14-gate regional and commuter terminal. This is the fourth consecutive fiscal year that the new terminal project has received funding through the Bipartisan Infrastructure Law, after receiving $49.6 million in 2022, $20 million in 2023, and $35 million in 2024.

    “I’m proud that our Bipartisan Infrastructure Law is once again delivering critical funding that will help grow and enhance travel and economic activity here in Virginia’s 10th District at Dulles Airport,” said Congresswoman Wexton. “Today’s announcement brings the total to more than $144 million in federal funds to make this new terminal project a reality. A top priority for the airport, it will save passengers’ time, reduce crowding, and make the passenger experience smoother and more convenient. The investments we’ve made through this historic infrastructure law continue to have an impact in our community and local economy that will have benefits for generations to come.”

    The new terminal will be conveniently located atop the underground Concourse C/D Aerotrain station, providing quick and easy access to passengers and reducing transit times for passengers with connections at Dulles who must currently use shuttle buses or long walkways. The new terminal will allow for jet bridge boarding that reduces boarding times and is more accessible for passengers with disabilities, rather than forcing passengers to board using outdoor covered walkways and aircraft stairs. It will be nearly four times larger than the current facility, which will reduce crowding, allow for expanded concessions and passenger amenities, and create additional space for operational areas, offices, aircraft servicing, and baggage handling.

    The new regional and commuter terminal project will also improve Dulles’s environmental footprint, as the proposed new facility will be built to LEED Silver Certifiable standards. Environmental improvements include support for electric aircraft servicing vehicles and the use of modern energy efficient construction methods and materials.

    The Airport Terminals Program, established by the Bipartisan Infrastructure Law which Wexton voted to pass in 2021, provides $1 billion in grants annually for five years to address aging infrastructure at our nation’s airports.

    ###

    MIL OSI USA News

  • MIL-OSI USA: Rep. Sewell Announces $43.7 Million for Water Infrastructure in Alabama

    Source: United States House of Representatives – Congresswoman Terri Sewell (AL-07)

    Birmingham, AL – Today, U.S. Rep. Terri Sewell (AL-07) announced that the U.S. Environmental Protection Agency (EPA) is investing $3.6 billion in new funding under the Biden-Harris Administration’s Bipartisan Infrastructure Law to upgrade our nation’s water infrastructure, including $43.7 million for the State of Alabama. This funding will help communities across Alabama upgrade water infrastructure that is essential to safely managing wastewater and drinking water in our homes, schools, and businesses.

    “I voted for the Biden-Harris Infrastructure Law because it promised to make the largest investment in wastewater and drinking water infrastructure in our nation’s history,” said Rep. Sewell. “Thanks to the Biden-Harris Administration, we are delivering on that promise. I am thrilled to announce that Alabama will receive over $43.7 million to help communities upgrade wastewater and drinking water infrastructure. Access to clean water is a basic human right, and this investment represents critical progress in our continued fight for equitable and safe wastewater systems. I thank President Biden and Vice President Harris for this historic investment, and I look forward to working with the State of Alabama to ensure these new resources reach the communities that need them most.” 

    “Water keeps us healthy, sustains vibrant communities and dynamic ecosystems, and supports economic opportunity. When our water infrastructure fails, it threatens people’s health, peace of mind, and the environment,” said EPA Administrator Michael S. Regan. “With the Bipartisan Infrastructure Law’s historic investment in water, EPA is working with states and local partners to upgrade infrastructure and address local challenges—from lead in drinking water, to PFAS, to water main breaks, to sewer overflows and climate resilience. Together, we are creating good-paying jobs while ensuring that all people can rely on clean and safe water.”

    The Bipartisan Infrastructure Law funds will flow through the Clean Water and Drinking Water State Revolving Funds (CWSRF and DWSRF), a long-standing federal-state water investment partnership. This multibillion-dollar investment will fund state-run, low-interest loan programs that address key challenges in financing water infrastructure. Today’s announcement includes allotments for Bipartisan Infrastructure Law Clean Water General Supplemental funds for Alabama ($27,824,000), Emerging Contaminant funds ($2,402,000), and ($13,490,000) under the Drinking Water Emerging Contaminant Fund.

    This funding is part of a five-year, $50 billion investment in water infrastructure through the Bipartisan Infrastructure Law – the largest investment in water infrastructure in American history. To ensure investments reach communities that need them the most, the Bipartisan Infrastructure Law mandates that most of the funding announced today must be provided to disadvantaged communities in the form of grants or loans that do not have to be repaid. 

    To read stories about how unprecedented investments in water from the Bipartisan Infrastructure Law are transforming communities across the country, visit EPA’s Investing in America’s Water Infrastructure Storymap. To read more about additional projects, see EPA’s recently released Quarterly Report on Bipartisan Infrastructure Law Funded Clean Water and Drinking Water SRF projects.

    For more information, including the state-by-state allocation of 2025 funding and a breakdown of EPA SRF funding available under the Bipartisan Infrastructure Law, please visit the Clean Water State Revolving Fund website and Drinking Water State Revolving Fund website. Additionally, the SRF Public Portal allows users to access data from both the Drinking Water and Clean Water SRF programs through interactive reports, dashboards, and maps.

    The State Revolving Fund (SRF) programs have been the foundation of water infrastructure investments for more than 30 years, providing low-cost financing for local projects across America. SRF programs are critically important programs for investing in the nation’s water infrastructure. They are designed to generate significant and sustainable water quality and public health benefits across the country. Their impact is amplified by the growth inherent in a revolving loan structure, in which payments of principal and interest on loans become available to address future needs.

    ###

    MIL OSI USA News

  • MIL-OSI Security: Two Former Georgia Deputies Plead Guilty to Violating Civil Rights of Jail Detainee

    Source: United States Attorneys General 11

    Two former Richmond County, Georgia, Sheriff’s Office deputies pleaded guilty yesterday to federal civil rights charges involving an assault on a jail detainee.

    Daniel D’Aversa, 52, and Melissa Morello, 28, pleaded guilty to an information charging both officers with one felony count of deprivation of civil rights under color of law.

    According to court documents, Morello was assigned as a jailer at Richmond County’s Charles D. Webster Detention Center, and D’Aversa was a corporal with the Richmond County Sheriff’s Office. On May 7, 2022, Morello and D’Aversa were working with other Richmond County Sheriff’s Office deputies to secure inmates who had caused flooding in a section of the jail. Fellow deputies deliberately removed the handcuffs of a compliant inmate and then proceeded to punch and kick him. Both Morello and D’Aversa pleaded guilty to failing to intervene or stop the assault on the inmate, who was not posing a threat to anyone at the time of the assault.

    U.S. District Court Judge J. Randal Hall will schedule sentencing for D’Aversa and Morello upon completion of pre-sentence investigations by U.S. Probation Services.

    Sentencing hearings will be set at a later date. Both D’Aversa and Morello face a maximum penalty of 10 years in prison, along with substantial fines and restitution, followed by up to three years of supervised release upon completion of any prison term. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and any other statutory factors.

    Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division, U.S. Attorney Jill E. Steinberg for the Southern District of Georgia and Acting Special Agent in Charge Sean Burke of the FBI Atlanta Field Office made the announcement.

    The FBI Atlanta Field Office is investigating the case.

    Assistant U.S. Attorney George J.C. Jacobs III for the Southern District of Georgia and Trial Attorney Anita T. Channapati of the Justice Department’s Civil Rights Division are prosecuting the case.

    MIL Security OSI

  • MIL-OSI: SBM Offshore divests minority interest in FPSO Sepetiba

    Source: GlobeNewswire (MIL-OSI)

    October 24, 2024

    SBM Offshore announces it has completed the divestment of a 13.5% ownership interest in the special purpose companies related to the lease and operation of the FPSO Sepetiba to China Merchants Financial Leasing (Hong Kong) Holding Co., Limited (CMFL). This follows the announcement on February 10, 2022, of an agreement whereby CMFL would acquire its ownership interest after the FPSO Sepetiba had commenced operations. SBM Offshore is operator of the FPSO and will remain the majority shareholder with 51% ownership interest.

    FPSO Sepetiba is installed at the Mero unitized field located in the Santos Basin, approximately 180 kilometers offshore Rio de Janeiro in Brazil. The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo S.A. (PPSA) (3.5%), representing the government in the non-contracted area.

    Corporate Profile

    SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.

    More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Third Quarter 2024 Trading Update   November 14 2024
    Full Year 2024 Earnings   February 20 2025
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Evelyn Tachau Brown
    Group Communications & Change Director

    Market Abuse Regulation

    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer

    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    Attachment

    The MIL Network

  • MIL-OSI: Westamerica Bancorporation Declares Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    SAN RAFAEL, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) — The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today declared a quarterly cash dividend of $0.44 per share on common stock outstanding to shareholders of record at the close of business November 4, 2024. The dividend is payable November 15, 2024.

    Chairman, President and CEO David Payne stated, “This quarterly dividend recognizes Westamerica’s reliable earnings stream, financial strength and conservative risk profile.”

    On October 17, 2024, Westamerica reported $35.1 million in net income for the three months ended September 30, 2024, or $1.31 diluted earnings per common share.

    Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California.

    Westamerica Bancorporation Web Address: www.westamerica.com

    For additional information contact:
    Westamerica Bancorporation
    1108 Fifth Avenue, San Rafael, CA 94901
    Robert A. Thorson – SVP & Treasurer
    707-863-6840
    investments@westamerica.com

    FORWARD-LOOKING INFORMATION:

    The following appears in accordance with the Private Securities Litigation Reform Act of 1995:

    This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

    Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company’s most recent reports filed with the Securities and Exchange Commission, including the annual report for the year ended December 31, 2023 filed on Form 10-K and quarterly report for the quarter ended June 30, 2024 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company’s business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions.

    Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

    The MIL Network

  • MIL-OSI: Alliance Witan Increases Dividend after Combination

    Source: GlobeNewswire (MIL-OSI)

    Alliance Witan PLC (‘the Company’)
    LEI: 213800SZZD4E2IOZ9W55

    Dividend Declaration

    Alliance Witan Increases Dividend after Combination

    The Company declares a third interim dividend of 6.73p per share. The total of the first three interim dividends declared for 2024 is 19.97p (2023: 18.86p), representing an increase of 5.9% on the same payments for 2023. The third interim dividend is a 1.7% step up on the level of the first and second interim dividends following the combination of Alliance Trust and Witan Investment Trust to form Alliance Witan.

    The dividend will be paid on 27 December 2024 to shareholders on the register at the close of business on 29 November 2024. The ex-dividend date is 28 November 2024.

    Barring any unforeseen circumstances, it is anticipated that the Company’s fourth interim dividend will be at least equal to third interim dividend. This will result in a total dividend for the 2024 financial year of at least 26.70p per share, which would represent a 6.0% increase over the Company’s financial year ended 31 December 2023.

    Juniper Partners Limited
    Company Secretary

    24 October 2024

    The MIL Network

  • MIL-OSI Video: Addressing the Humanitarian Crisis in Gaza

    Source: United States of America – Department of State (video statements)

    Today, we’re announcing an additional $135 million dollars in humanitarian assistance — water, sanitation, maternal health — for Palestinians in Gaza as well as in the region. – Secretary Blinken from Doha, Qatar on October 24, 2024.

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    Twitter: https://twitter.com/StateDept
    Instagram: https://www.instagram.com/statedept
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    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

    State Department website: https://www.state.gov/
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    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=FZAjfHytYFg

    MIL OSI Video

  • MIL-OSI Europe: Address by President Viola Amherd at the open debate of the UN Security Council on women in peace processes

    Source: Switzerland – Department of Defence, Civil Protection and Sport

    Address by President Viola Amherd, head of the Federal Department of Defence, Civil Protection and Sport (DDPS), at the open debate of the UN Security Council on women in peace processes (Women, Peace, Security), New York, Thursday, 24 October 2024.

    MIL OSI Europe News

  • MIL-OSI United Kingdom: The full and safe participation of women is crucial to successful peacebuilding efforts: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Statement by Lord Richard Hermer, Attorney General for England and Wales and Advocate General for Northern Ireland, at the UN Security Council meeting on women building peace in a changing environment.

    On UN day, I want to start by recalling that last month my Prime Minister gave a clear recommitment to the United Nations, to the rule of law, and to the need to work together for peace, progress and equality. 

    And empowering women and girls is a vital part of this. Addressing structural gender inequality is a vital part of this, tackling misogyny is a vital part of this, and ending impunity for conflict related sexual violence is a vital part of this.

    We are approaching the 25-year anniversary of the Women, Peace and Security agenda and I’m proud of the role the UK has played.

    There is much to celebrate. Yet the overall implementation is lagging. Not one of the peace agreements reached in 2023 included a women’s representative or women’s representative group as signatory. The proportion of women killed in conflict has doubled compared to 2022.

    Building on her excellency Thomas-Greenfield’s essential three I’s. May I propose three areas for our collective action?

    First, conflict prevention.

    Conflict is at a post-WWII high. Women and children are disproportionately impacted. And we need to reinvigorate conflict prevention efforts, taking a gender-responsive approach.

    Through our ‘Resourcing Change’ project, the UK is supporting women’s participation in formal and informal mechanisms for the prevention and resolution of conflict, including in Nigeria and in South Sudan. 

    Second, we must stand together to prevent conflict-related sexual violence and end impunity.

    The UK remains committed to the Preventing Sexual Violence in Conflict Initiative and our work with the International Alliance to build a stronger international response. PSVI programmes have contributed to vital legislative changes around the world.

    We have sanctioned perpetrators for CRSV crimes in seven countries. And I call upon all states to redouble efforts to seek justice and accountability and support the survivors.

    Third, I call upon member states to support women’s right’s organisations as the driving force behind the WPS agenda.

    I am proud of the UK’s £33 million partnership with the Equality Fund who have supported over 1000 women’s right’s organisations, including in conflict settings, since 2019.

    In Sudan, the UK has supported the establishment of the anti-war, pro-democracy coalition, working with 200 women. 

    In Myanmar, the UK is contributing over $1.3 million over three years in long-term support to grassroots women and LGBTQ+ led organisations to build capacity and support inclusive and strategic cooperation amongst local-level women leaders and community representatives.  

    Women’s full, equal, meaningful and safe participation is crucial to achieving lasting peace, and we condemn the shocking levels of reprisals against women peacebuilders.

    But we must also recognise this, that the long-term solution to gender based violence in conflicts requires all societies to address its root causes. It requires addressing gender inequality systemically, not just in criminal courts or in peace negotiations halls, but in how girls and boys, men and women relate to each other in classrooms, in playgrounds, workplaces, public life and online.

    The link between gender inequality and gender-based violence in conflict must be systematically addressed.

    So as we approach the 25th anniversary, we must celebrate women’s rights organisations and peacebuilders who have championed this agenda. We welcome the Secretary General’s Common Pledge to prioritise women’s participation in peace processes to address this gap.

    But we must go further and faster to build a more inclusive, sustainable, and peaceful future for all.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Local Government Association Conference

    Source: United Kingdom – Executive Government & Departments

    A speech from the Deputy Prime Minister

    Firstly, I want to say a massive thank you to you, some of our most dedicated, brilliant public servants in this room. 

    For everything that you do, every day, to keep our country going. 

    You’ve shown remarkable resilience through some tough – and very tough – years. 

    During the pandemic, you kept vital services running in our communities. 

    Through this period of economic instability, you’ve made tough choices to protect the most vulnerable. 

    And following a summer of violent far-right disorder, you stood up for the values of decency and community that define our country. 

    And time and again, you step forward to support your local communities. 

    Now, I understand that this conference was originally planned for just before the General Election. 

    I have to admit that I’m much happier to be stood here as your Deputy Prime Minister! 

    Last year in Bournemouth, I said that if we were elected, we would deliver a plan for change. 

    A new way of governing. A government of public service.  

    And just over 100 days into government and we are getting on with the job. 

    We’re fixing the foundations to build a country that works for working people. 

    And local government is at the heart of this vision.  

    Because as you all know, I am a creature of local government. 

    I loved my job as a home help for Stockport council.  

    And I learned the importance of a good local service, and what it meant to really know and trust your community.  

    Back then, local government wasn’t on its knees.  

    Don’t get me wrong, things weren’t easy. 

    But we had the time and resource to provide a good service.  

    I know that good, functioning local government looks like great working with a good central government working in genuine partnership to deliver better outcomes. 

    So I know we can’t deliver true change for Britain without the support of every one of you in this room.  

    We can’t deliver for our missions without you. 

    Take our plans to deliver 1.5 million homes, including a new generation of secure, social and affordable homes.  

    The delivery of safer streets, an NHS and social care system that’s back on its feet. 

    The sustained economic growth we need to raise living standards.  

    And the strong communities on which good lives are built. 

    That’s why, in my very first week in the job – as Secretary of State for Housing, Communities and Local Government – I put local government back where it belongs. 

    At the heart of my department’s name and mission.  

    And I’m lucky I have Jim by my side, the Minister of State for Local Government – who has run a council and knows local government from the inside out – and he’s here with me today and as part of the team.  

    Louise, your new Chair, also represents the best of local government – a fierce commitment to public service and leadership steeped in years of experience – not too many years, but a few. 

    And the fact that her predecessor, Shaun, has now joined us in the House of Commons just goes to show we are a government that believes in the power of local government.  

    We know what’s possible when you give people with skin in the game the power to change lives.  

    And, after an incredibly difficult few years, it’s time to unleash that power.  

    Which means resetting our relationship with local government and rebuilding its foundations.  

    It means ditching the slogans and gimmicks and going back to basics: delivering services that people can rely on. 

    You don’t need me to tell you how much harder that job has been after fourteen years of neglect.  

    [Redacted political content] 

    Councils stuck in a doom loop with money pouring out of a system with too many cracks. 

    And it isn’t just the scandal of wasted money. It’s the heartache of the wasted lives and potential.  

    [Redacted political content] 

    For all the promises about localism and levelling up, there was an assumption that if something needed doing, it should be done from Whitehall.  

    With central government hoarding power, micromanaging you, intervening in an uncoordinated and unhelpful way.  

    A begging-bowl system of wasteful competitive pots that led to councils bidding to pay for chess tables in public parks.  

    No more.  

    We’re going to turn the page on this failed approach – bringing local government into the heart of government.  

    As part of a partnership based on honesty and respect.  

    And it’s in that spirit that we need to face up to the financial crisis facing local government.  

    We all know that there’s no quick fix.  

    The dire public finances – the £22 billion black hole – we’ve inherited mean that it’s going to take hard graft on all sides to get us back on the road to recovery.  

    We knew things were bad, but on entering office, we uncovered a shocking crisis in local government which was far beyond what we had anticipated.  

    Councils of all political stripes have been left shelling out millions to plaster over the government’s mismanagement.  

    [Redacted political content] 

    To make matters worse, we discovered that over the last decade, the last [Redacted political content] government ripped away any financial oversight of council spending, scrapping the Audit Commission and pushing councils to borrow more and more.  

    This reckless approach has left the government with no transparent system in place to warn the public when a council is struggling. 

    And more and more authorities are struggling to stay afloat with communities in the most deprived parts of our country disproportionately affected, through cuts to services that they desperately depend on, as people’s [inaudible] go up. 

    And get it.  

    And I know we need change urgently. 

    You’ve all heard me say it – I’m going provide multi-year funding settlements, that will give you the stability and certainty to plan and invest for the long-term. 

    And that we will end the Dragon’s Den-style bidding wars between councils for competitive funding pots.  

    Instead, we’ll show you some respect with long-term funding, giving you flexibility to spend it where it is needed.  

    And through the next Local Government Finance Settlement and beyond, we will provide more detail on how this is going to work.  

    Let me be clear that we can’t fix the system overnight.  

    [Redacted political content] 

    And I have to say, looking at the numbers we inherited, I am shocked by the scale of neglect. 

    It is going to be a long, hard slog to get local government back on its feet.  

    And in the short term, we’re doing all that we can to protect severely struggling councils, which is why I can announce that we are scrapping the punitive ‘pay day loan’ premium on borrowing for councils in need of Exceptional Financial Support.  

    This government will take a collaborative and a constructive approach to councils in financial difficulty. 

    You know I can’t go into detail about the Spending Review. 

    So let me talk to you today about things that I can tell you. 

    Fundamentally, I want to work together, across central and local government to reform high-cost public services and focus on preventing people from needing them in the first place. 

    Tackling profiteering in broken markets serving vulnerable groups, like we’ve seen in some of the private children’s homes. 

    When it comes to prevention, there can be few bigger priorities for us than preventing homelessness – one of the biggest pressures that you face. 

    By getting Britain building again. Speeding up the planning system and reintroducing mandatory housing targets. 

    I know that this will mean asking more from local councils.  

    Which is why we’re boosting the number of planners. 

    As part of our plans, to strengthen local planning departments and reinforce planning obligations to deliver more affordable homes on new developments – we will support you to hold developers to account. 

    And it’s why we’re also reviewing Right to Buy, to stem the loss of precious council homes.  

    But we’ll also tackle homelessness directly, by learning lessons from the past and working with local leaders to take action on all forms of homelessness.  

    We will develop a cross-government strategy to get us back on track to end homelessness. 

    We will also reform the broken local audit system in England that we inherited. 

    This should be the bedrock of local accountability and transparency, of trust and confidence in local democracy.  

    Instead, last year, just one percent of local bodies were able to publish audited accounts by the deadline. 

    This cannot go on.  

    We have already taken decisive action to introduce backstop dates to clear the backlog in unaudited accounts.  

    Local audit will and must provide value for money for the taxpayers and be fit for the future.  

    And similarly, when the way councils are run has gone wrong, central government hasn’t always responded constructively. 

    Instead kicking councils when they’re down for political reasons.  

    This Labour government are going to do things differently. 

    We will work with every council that needs it to put in place clear, deliverable plans to address problems and protect local taxpayers, rather than treating them as political footballs.  

    That’s the approach we’re taking in Birmingham.  

    Significant challenges continue to face the city council, but we’re going to work with the councillors and the community to solve them in partnership. 

    Birmingham has huge potential – and we’re going to work closely with the partners across the West Midlands to unlock that potential, including with the Mayor Parker of the West Midlands Combined Authority. 

    And that’s the change that we represent.  

    Not punishment, but collaboration. 

    Getting places into a stable financial footing by, yes, making difficult decisions, but with the interests of residents at the heart. 

    Our aim is to support councils to perform at their very best.  

    Councillor conduct / standards framework 

    Standards in local government matter – both the delivery of services and personal conduct.  

    Every decision you make has an impact on the daily lives of those you serve. 

    And most councillors meet the highest standards of public office and I am so proud to be representing you in government.  

    But sadly we all know there are rare occasions where bad behaviour occurs.  

    I’ve been made aware of cases of persistent bullying and harassment by councillors, even, in some cases, leading to victims’ resignations. 

    We don’t have a system that protects victims or empowers councils to deal with unacceptable behaviour. 

    And this cannot go on and we will give councils the powers to address poor conduct.  

    We will consult on reforms to the local government standards framework, including a proposal to allow for the suspension of members who violate codes of conduct.  

    But we also recognise that too often, councillors become victims themselves. 

    Too often I speak to dedicated councillors who are facing death threats and intimidation.  

    And I take this very seriously and recognise the impact this has on the lives of dedicated public servants and their families. 

    That’s why we are taking decisive action to prevent councillors from being subjected to intimidation and harassment by removing the requirement for members’ home addresses to be published.   

    [And I want you to know] this is a government that respects and appreciates the huge contribution made by councillors who work tirelessly for residents – and we will always have your back.  

    We are also taking a more collaborative approach to pressing issues like the widespread workforce challenges you are experiencing.  

    Ninety-four per cent of councils say they’re having difficulties with recruitment and retention. 

    This isn’t just your problem – it’s all our problem because council staff are on the frontline serving local communities.  

    So, we’re ready to work hand in hand with you to find creative solutions to staffing issues.  

    We’ll launch a Workforce Development Group in partnership with the sector to gain a shared understanding of the most immediate priorities and focus our efforts on where we can add the most value to your work. 

    And when we say we’ll work in partnership with the sector, every step of the way, we mean it.  

    I have formally launched our new Leaders’ Council at this very conference – which will give local government a voice at the heart of government – this a mark of just how seriously we take this.  

    The Council will bring together local government leaders and ministers to tackle shared problems and deliver for the communities they all ultimately serve. 

    We will use it to learn from the exciting innovations that councils are pioneering.  

    And we hugely respect your knowledge and expertise. 

    But it’s more than that.  

    The Leaders’ Council will be critical for co-designing policy at the highest levels. 

    And I look forward to working closely with the Council over the coming years. 

    Gone are the day of diktats from above.  

    It is time for those with skin in the game to be put in the driving seat.  

    That is what our devolution agenda is all about.  

    We will make it easier for you to come together and form combined authorities and devolve more powers to existing ones – meaning access to new powers over skills, transport and employment support.  

    Our landmark English Devolution Bill will deliver our manifesto commitment to transfer power out of Whitehall, making devolution the default setting.  

    And look, I know the coming years won’t always be easy, but I’m confident that, working in partnership, we can fix the basics so that you can focus on the things that really matter to our and your communities. 

    My starting point is that we should be clear about what we ask of you and then give you the autonomy and the support you need to deliver.   

    So, where we don’t need to get involved, we won’t.  

    It’s not our place, for example, to decide whether councillors should attend your meetings remotely or use proxy votes when they need to.  

    So, I can announce today that we’re putting forward proposals to let councils make the decision for themselves.  

    Which means making it possible for people from all walks of life to have a stake in local democracy, whether they have caring responsibilities or aren’t able to make it to the town hall in person because of illness or disability. 

    It’s right that we make it easier for more people to get involved in making their community a great place to live.  

    It’s also right that we expect the highest standards of local government – with central government playing its part as a responsible steward.  

    And for me this is personal.  

    I’m passionate about backing you with the long-term funding and certainty that you need. 

    The powers you need. 

    And the new relationship that we all need. 

    So local government can once again be a strong, functioning arm of the state, providing public services that people can rely on.  

    And I want to thank you, once again, for everything that you do for our communities.  

    This is a government of service that is on your side. 

    And the road ahead won’t always be a smooth path, but we will walk it together and build a better Britain.  

    Thank you.

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom