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Category: Americas

  • MIL-OSI: SWA Lithium and Koch Technology Solutions Sign License for First Commercial DLE Project in North America

    Source: GlobeNewswire (MIL-OSI)

    EL DORADO, Ark., Oct. 28, 2024 (GLOBE NEWSWIRE) — SWA Lithium, the Joint Venture between Standard Lithium and Equinor which is developing the South West Arkansas Project (“SWA” or the “Project”), is pleased to announce that it has entered into a license agreement with Koch Technology Solutions LLC (“KTS”) to deploy and use KTS’ Li-ProTM Lithium Selective Sorption (“Li-Pro LSS”) technology at the JV’s commercial plant for the SWA Phase 1 Project.

    The license agreement allows the JV to utilize KTS’ technology for the lifetime of the first phase of the Project, with an option for utilization in subsequent phases of the Project. Considerations and benefits of the license agreement include:

    • Rights to use the Li-Pro LSS technology for subsequent phases of the JV’s SWA Project;
    • Certain technology performance guarantees for lithium recovery, contaminant rejection and water use;
      • Lithium recovery ≥ 95.00%
      • Impurity rejection Calcium, Sodium, Potassium & Magnesium ≥ 99%
    • Technical support from KTS to fully integrate the Li-Pro LSS technology into overall process plant design;
    • Continued exclusive joint development of the technology in the Smackover Formation;
    • Technical support from KTS during commissioning and startup;
    • License payment phased over several milestones; and
    • Continued collaboration and technology refinement between SWA Lithium and KTS.

    Standard Lithium’s Director, President & COO, Dr. Andy Robinson commented: “Signing this license agreement is the culmination of over two years of close work with the KTS team to refine the direct lithium extraction (‘DLE’) technology and integrate it into the JV’s flowsheet. The Li-Pro LSS technology is now sufficiently scaled-up, tested and derisked, so not only is the JV comfortable committing to its use at commercial scale, but KTS is also able to offer performance guarantees for its commercial deployment. We view this as a significant derisking event for the Project, and it points to the successful ongoing partnership with the KTS team.”

    Garrett Krall, Business Leader for Koch Technology Solutions, said: “This license agreement for use of our Li-Pro LSS technology is another key milestone in the development of DLE as a commercially viable, economic and environmentally responsible solution to deliver against future lithium demand.”

    UPDATED PERFORMANCE OF COMMERCIAL-SCALE DLE COLUMN

    Standard Lithium is also pleased to announce the continued successful operation of the commercial-scale DLE column at its wholly-owned Demonstration Plant (“Demo Plant”) near El Dorado, Arkansas. The Company installed a commercial-scale DLE column in late March 2024 and has been operating the column continuously. The column is a Li-Pro LSS unit, supplied by KTS and identical to those currently being integrated into the front-end engineering and design (FEED) study for the SWA Project.

    Since commissioning, the column has exceeded the targeted design parameters for lithium recovery and rejection of impurities. Key technical highlights of the commercial-scale DLE column are provided below:

    • Lithium recovery efficiency of 95.4%: During a four-month continuous operating period (1st April to 31st July 2024), the Li-Pro LSS process achieved an average lithium recovery (i.e. after loading and elution) of 95.4% from the 90 gallons per minute (gpm) incoming brine flow (the average incoming brine contained 183 mg/L lithium during the same period).
    • Excellent contamination rejection rate: During the same period, the DLE process rejected, on average;
      • Sodium – 99.9%
      • Calcium – 99.6%
      • Magnesium – 99.2%
      • Potassium – 99.7%
      • Boron – 95.4%
        High and consistent contaminant rejection at the DLE stage means that the eluate (the initial lithium chloride solution) is easier and cheaper to further refine and concentrate using tested and proven steps to make a concentrated and purified lithium chloride solution. This solution can then be converted to a battery quality carbonate, as has been demonstrated multiple times and at several different scales, both at the Demo Plant and off-site with various third-party vendors.
    • Nearly 10,000 operational cycles for the Li-Pro LSS technology: The commercial-scale Li-Pro LSS column has completed over 725 operational cycles, and the Li-Pro LSS technology has completed over 9,740 operational cycles at the Demo Plant (as of early October 2024).
    • Over 24 million gallons of brine processed: As of the end of September 2024, the Demo Plant had processed 24,446,306 gallons (92,539,335 litres) of Smackover brine, produced directly from the formation and reinjected continuously back into the same formation.

    Figure 1 – Side elevation of operators working on the commercial-scale DLE column at Standard Lithium’s Demonstration Plant near El Dorado, Arkansas.

    About Standard Lithium Ltd.

    Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The Company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s flagship projects are located in the Smackover Formation, a world-class lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor ASA, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively exploring promising lithium brine prospects in East Texas. Additionally, the Company is advancing the Phase 1A project in partnership with LANXESS Corporation, a brownfield development project located in southern Arkansas. Standard Lithium also holds an interest in certain mineral leases in the Mojave Desert in San Bernardino County, California.

    Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.

    About Equinor

    Equinor is an international energy company committed to long-term value creation in a low-carbon future. Our purpose is to turn natural resources into energy for people and progress for society. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Stavanger (Norway), Equinor is the leading operator on the Norwegian continental shelf. We are present in around 30 countries worldwide.

    About Koch Technology Solutions (KTS)

    Koch Technology Solutions is the technology licensing business of Koch Engineered Solutions (KES). KTS creates value for its customers across a growing portfolio of technologies including direct lithium extraction, the polyester value chain, and 1,4-Butananediol plus its derivates. KTS combines its exclusive technologies, expertise, and capabilities with those of other KES companies to provide overall solutions to optimize customer’s capital investments and existing manufacturing assets.

    Qualified Person

    Marek Dworzanowski, EUR ING, CEng, HonFSAIMM, FIMMM, a qualified person as defined by National Instrument 43 -101 – Technical Report Standards of Disclosure for Mineral Projects, and a Consulting Metallurgical Engineer who is independent of the Company, has reviewed and approved the relevant scientific and technical information in this news release.

    Twitter: @standardlithium
    LinkedIn: https://www.linkedin.com/company/standard-lithium/

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, continued operation of the LSS column, regulatory or government requirements or approvals, the reliability of third party information, the continued accuracy of current contaminant rejection rates, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0c4dea63-0750-44b2-bea8-e287cc9be29c

    The MIL Network –

  • MIL-OSI Video: Department of State Daily Press Briefing – October 28, 2024 – 2:00 PM

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

    Spokesperson Matthew Miller leads the Department Press Briefing, at the Department of State, on October 28, 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
    Flickr: https://flickr.com/photos/statephotos/

    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/
    Careers website: https://careers.state.gov/
    White House website: https://www.whitehouse.gov/
    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=fzr1hZL12Pk

    MIL OSI Video –

  • MIL-OSI Video: AH64: Tank Killer! | U.S. Army

    Source: US Army (video statements)

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #Shorts #AH64 #Apache #TankKiller

    https://www.youtube.com/watch?v=-bUNAkohYvI

    MIL OSI Video –

  • MIL-OSI Video: President Biden Delivers Remarks at a Reception in Celebration of Diwali

    Source: United States of America – The White House (video statements)

    The White House

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

    MIL OSI Video –

  • MIL-OSI: PSB Holdings, Inc. Reports Earnings of $0.69 per Share for Q3 2024; Net Interest Margin and Tangible Book Value Increase; Asset Quality Improves

    Source: GlobeNewswire (MIL-OSI)

    WAUSAU, Wis., Oct. 28, 2024 (GLOBE NEWSWIRE) — PSB Holdings, Inc. (“PSB”) (OTCQX: PSBQ), the holding company for Peoples State Bank (“Peoples”) serving Northcentral and Southeastern Wisconsin reported third quarter earnings ending September 30, 2024 of $0.69 per common share on net income of $2.9 million, compared to $0.56 per common share on net income of $2.3 million during the second quarter ending June 30, 2024, and $0.29 per common share on net income of $1.2 million during the third quarter ending September 30, 2023.

    PSB’s third quarter 2024 operating results reflected the following changes from the second quarter of 2024: (1) higher net interest margin increased 6 basis points; (2) slightly lower non-interest income; (3) lower non-interest expense due to the second quarter reflecting elevated severance expenses; and (4) the return of a $2.5 million non-performing loan to performing status and a corresponding release in specific reserves.

    “Over the past year, we have increased shareholders’ tangible book value per share 18.7% and paid $0.62 in dividends to our shareholders, up 12.7% from the 12 month period ended September 30, 2023. With the rapid rise in short term interest rates over the past couple of years coming to an apparent end, we expect our net interest margin to be stable and operating expenses to continue to be well managed and efficient. Additionally, as funds become available from investment and loan repayments and maturities, we expect the funds to be reinvested into higher yielding assets which should lessen the volatility in fair market value adjustments reflected in our tangible book value,” stated Scott Cattanach, President and CEO.

    September 30, 2024, Highlights:

    • Net interest income increased to $9.9 million for the quarter ended September 30, 2024, from $9.4 million for the quarter ended June 30, 2024, as increases in asset and loan yields outpaced the increases in funding costs.
    • Noninterest income decreased slightly to $1.8 million for the quarter ended September 30, 2024, compared to $1.9 million the prior quarter.
    • Noninterest expenses decreased during the quarter ended September 30, 2024, reflecting lower salary and benefit expenses. Included in salary and benefit expenses for the prior quarter were non-recurring expenses totaling approximately $404,000.
    • Tangible book value per common share increased $1.86 per share to $26.41 at September 30, 2024, compared to $24.55 one quarter earlier, and increased $4.16 per share, or 18.7%, compared to $22.25 at September 30, 2023. Additionally, PSB paid dividends totaling $0.62 per share over the past year. During the third quarter ended September 30, 2024, tangible book value per share was positively influenced by higher net income, intangible asset amortization, an increase in fair market value of investment securities and consistent stock repurchase activity.
    • Loans decreased $16.9 million in the third quarter ended September 30, 2024, to $1.06 billion largely due to not replacing certain out of market maturing loans. Allowance for credit losses increased to 1.18% of gross loans.
    • Non-performing assets declined to 0.71% of total assets at September 30, 2024 from 0.84% at June 30, 2024 as a $2.5 million loan returned to performing status.
    • Total deposits decreased $13.2 million during the quarter ended September 30, 2024 to $1.14 billion, with a large portion of the decrease attributable to a large overnight deposit held at June 30, 2024 which was withdrawn in early July.
    • Return on average tangible common equity was 10.96% for the quarter ended September 30, 2024, compared to 9.34% the prior quarter and 5.17% in the year ago quarter.

    Balance Sheet and Asset Quality Review

    Total assets decreased $9.7 million to $1.48 billion at September 30, 2024. Investment securities available for sale increased $9.7 million to $174.9 million at September 30, 2024, from $165.2 million one quarter earlier. Total collateralized liquidity available to meet cash demands was approximately $321 million at September 30, 2024, with an additional $343 million that could be raised in a short time frame from the brokered CDs market.

    Total loans receivable decreased $16.9 million to $1.06 billion at September 30, 2024, due primarily to lower commercial and construction lending. Commercial non-real estate loans decreased $9.1 million to $139.0 million at September 30, 2024, from $148.2 million one quarter earlier. Gross construction lending decreased $9.6 million to $61.0 million at September 30, 2024, from $70.5 million at June 30, 2024, while loans in process declined $3.6 million during the quarter ended September 30, 2024. Commercial real estate loans decreased $2.6 million to $541.6 million at September 30, 2024, from $544.2 million the prior quarter. Meanwhile, residential real estate loans increased slightly from the prior quarter to $341.3 million from $340.9 million. The loan portfolio remains well diversified with commercial real estate and construction loans totaling 55.4% of gross loans followed by residential real estate loans at 31.4% of gross loans, commercial non-real estate loans at 12.8% and consumer loans at 0.4%.

    The allowance for credit losses increased slightly to 1.18% of gross loans at September 30, 2024, from 1.16% the prior quarter. Annualized net charge-offs to average loans were zero for the last five quarters. Non-performing assets totaled 0.71% of total assets at September 30, 2024, compared to 0.84% at June 30, 2024. During the quarter ended September 30, 2024, a loan totaling $2.5 million was returned to performing status, while a loan on a recreation facility totaling $3.3 million was added to nonaccrual status. Additionally, one loan relationship to an equipment dealership on nonaccrual status totaling $5.1 million at June 30, 2024 was paid down to $2.8 million at September 30, 2024 on sale of the equipment inventory. For the seventh consecutive quarter, the Bank did not own any foreclosed real estate.

    Total deposits decreased $13.2 million to $1.14 billion at September 30, 2024, from $1.15 billion at June 30, 2024. The decrease in deposits reflects a $13.1 million decrease in interest-bearing demand and savings deposits, a $19.7 million decrease in money market deposits partially offset by a $14.6 million increase in non-interest bearing deposits and a $5.4 million increase in retail and local time deposits. The decrease in money market deposits reflected a large deposit of $49 million on June 30, 2024 that was drawn down in early July 2024.

    At September 30, 2024, non-interest bearing demand deposits increased to 23.3% of total deposits from 21.6% the prior quarter, while interest-bearing demand and savings deposits decreased to 28.4% of deposits, compared to 29.3% at June 30, 2024. Uninsured and uncollateralized deposits decreased to 21.6% of total deposits at September 30, 2024, from 24.0% of total deposits at June 30, 2024.

    FHLB advances decreased to $181.3 million at September 30, 2024, compared to $184.9 million at June 30, 2024.

    Tangible stockholder equity as a percent of total tangible assets increased to 7.85% at September 30, 2024, compared to 7.32% at June 30, 2024, and 6.98% at September 30, 2023.

    Tangible net book value per common share increased $4.16, to $26.41, at September 30, 2024, compared to $22.25 one year earlier, an increase of 18.7% after dividends of $0.62 were paid to shareholders. Relative to the prior quarter, tangible net book value per common share increased due to continued earnings, a fair market value increase in the investment portfolio which reduced unrealized losses reflected in accumulated other comprehensive income and amortization of intangible assets. The accumulated other comprehensive loss on the investment portfolio was $15.8 million at September 30, 2024, compared to $20.5 million one quarter earlier.

    Operations Review

    Net interest income increased to $9.9 million (on a net margin of 2.90%) for the third quarter of 2024, from $9.4 million (on a net margin of 2.84%) for the second quarter of 2024, and $9.6 million (on a net margin of 2.88%) for the third quarter of 2023. Earning asset yields increased by 8 basis points to 5.29% during the third quarter of 2024 from 5.21% during the second quarter of 2024, while interest bearing deposit and borrowing costs increased 7 basis points to 3.13% compared to 3.06% during the second quarter of 2024.

    The increase in earning asset yields was primarily due to higher yields on loan originations and renewals. Loan yields increased during the third quarter of 2024 to 5.78% from 5.67% for the second quarter of 2024, up 11 basis points. Taxable security yields were 3.01% for the quarter ended September 30, 2024, compared to 3.02% for the quarter ended June 30, 2024, while tax-exempt security yields were 3.31% for the quarter ended September 30, 2024 compared to 3.33% the prior quarter.

    The cost of all deposits was 2.11% for the quarter ended September 30, 2024, compared to 2.11% the prior quarter, while the overall cost of funds increased 7 basis points from 3.06% to 3.13% during the same time period. Deposit costs for money market deposits decreased during the quarter ended September 30, 2024, to 2.69% from 2.72% the prior quarter. The cost of time deposits and FHLB advances continued to increase and were primarily responsible for the rise in the Bank’s cost of funds in the current quarter. The cost of time deposits increased to 4.04% for the third quarter ended September 30, 2024, from 3.97% the prior quarter. FHLB advance costs rose to 4.44% during the third quarter ended September 30, 2024, from 4.28% the prior quarter.

    Total noninterest income decreased slightly for the third quarter of 2024 to $1.84 million, from $1.91 million for the second quarter of 2024. Mortgage banking income remained at $433,000 in the September 30, 2024 quarter while various decreases in nominal revenue sources accounted for the slight decline in non-interest income during the third quarter ended September 30, 2024. At September 30, 2024, the Bank serviced $371 million in secondary market residential mortgage loans for others which provide fee income.

    Noninterest expenses decreased to $8.2 million for the third quarter of 2024, compared to $8.4 million for the second quarter of 2024. The second quarter ended June 30, 2024, reflected higher salary and benefit expenses related to non-recurring costs. Relative to one year earlier, salary and benefit cost increased 5.7% to $4.8 million for the quarter ended September 30, 2024, compared to $4.5 million for the third quarter ended September 30, 2023.

    Taxes increased $183,000 during the third quarter to $593,000, from $410,000 one quarter earlier. The increase generally reflects higher pre-tax income. The effective tax rate for the quarter ended September 30, 2024, was 16.6% compared to 14.4% for the second quarter ended June 30, 2024, and 63.8% for the third quarter ended September 30, 2023, when higher tax expenses were incurred to recognize the loss of certain deferred tax assets following a change in Wisconsin tax law that eliminated state taxes on certain qualified assets.

    About PSB Holdings, Inc.

    PSB Holdings, Inc. is the parent company of Peoples State Bank. Peoples is a community bank headquartered in Wausau, Wisconsin, serving northcentral and southeastern Wisconsin from twelve full-service banking locations in Marathon, Oneida, Vilas, Portage, Milwaukee and Waukesha counties and a loan production office in Dane County. Peoples also provides investment and insurance products, along with retirement planning services, through Peoples Wealth Management, a division of Peoples. PSB Holdings, Inc. is traded under the stock symbol PSBQ on the OTCQX Market. More information about PSB, its management, and its financial performance may be found at www.psbholdingsinc.com. 

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about PSB’s business based, in part, on assumptions made by management and include, without limitation, statements with respect to the potential growth of PSB, its future profits, expected stock repurchase levels, future dividend rates, future interest rates, and the adequacy of its capital position. Forward-looking statements can be affected by known and unknown risks, uncertainties, and other factors, including, but not limited to, strength of the economy, the effects of government policies, including interest rate policies, risks associated with the execution of PSB’s vision and growth strategy, including with respect to current and future M&A activity, and risks associated with global economic instability. The forward-looking statements in this press release speak only as of the date on which they are made and PSB does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

                

    PSB Holdings, Inc.          
    Consolidated Balance Sheets          
    September 30, June 30, and March 31, 2024, September 30, 2023, unaudited, December 31, 2023 derived from audited financial statements
               
      Sep. 30, Jun. 30, Mar. 31, Dec. 31, Sep. 30,
    (dollars in thousands, except per share data)   2024     2024     2024     2023     2023  
               
    Assets          
               
    Cash and due from banks $ 23,554   $ 16,475   $ 13,340   $ 20,887   $ 12,881  
    Interest-bearing deposits   5,126     251     105     1,431     668  
    Federal funds sold   58,434     69,249     2,439     5,462     7,764  
               
    Cash and cash equivalents   87,114     85,975     15,884     27,780     21,313  
    Securities available for sale (at fair value)   174,911     165,177     165,566     164,024     160,883  
    Securities held to maturity (fair values of $82,389, $79,993, $81,234, $82,514 and        
      $75,236 respectively)   86,847     86,825     87,104     87,081     86,908  
    Equity securities   1,752     1,661     1,474     1,474     2,273  
    Loans held for sale   –     2,268     865     230     971  
    Loans receivable, net (allowance for credit losses of $12,598, $12,597, $12,494,        
     $12,302 and $12,267 respectively)   1,057,974     1,074,844     1,081,394     1,078,475     1,098,019  
    Accrued interest receivable   4,837     5,046     5,467     5,136     4,716  
    Foreclosed assets   –     –     –     –     –  
    Premises and equipment, net   14,065     14,048     13,427     13,098     13,242  
    Mortgage servicing rights, net   1,727     1,688     1,657     1,664     1,684  
    Federal Home Loan Bank stock (at cost)   8,825     8,825     7,006     6,373     6,373  
    Cash surrender value of bank-owned life insurance   24,565     24,401     24,242     24,085     23,931  
    Core deposit intangible   212     229     249     273     297  
    Goodwill   2,541     2,541     2,541     2,541     2,541  
    Other assets   10,598     12,111     11,682     11,866     14,094  
               
    TOTAL ASSETS $ 1,475,968   $ 1,485,639   $ 1,418,558   $ 1,424,100   $ 1,437,245  
               
    Liabilities          
               
    Non-interest-bearing deposits $ 265,078   $ 250,435   $ 247,608   $ 266,829   $ 288,765  
    Interest-bearing deposits   874,035     901,886     865,744     874,973     883,474  
               
       Total deposits   1,139,113     1,152,321     1,113,352     1,141,802     1,172,239  
               
    Federal Home Loan Bank advances   181,250     184,900     158,250     134,000     128,000  
    Other borrowings   6,128     5,775     8,096     8,058     5,660  
    Senior subordinated notes   4,779     4,778     4,776     4,774     4,772  
    Junior subordinated debentures   12,998     12,972     12,947     12,921     12,896  
    Allowance for credit losses on unfunded commitments   477     477     477     577     512  
    Accrued expenses and other liabilities   12,850     13,069     10,247     12,681     10,258  
               
       Total liabilities   1,357,595     1,374,292     1,308,145     1,314,813     1,334,337  
               
    Stockholders’ equity          
               
    Preferred stock – no par value:          
       Authorized – 30,000 shares; no shares issued or outstanding          
       Outstanding – 7,200 shares, respectively   7,200     7,200     7,200     7,200     7,200  
    Common stock – no par value with a stated value of $1.00 per share:          
       Authorized – 18,000,000 shares; Issued – 5,490,798 shares          
       Outstanding – 4,105,594, 4,128,382, 4,147,649, 4,164,735 and          
         4,174,197 shares, respectively   1,830     1,830     1,830     1,830     1,830  
    Additional paid-in capital   8,567     8,527     8,466     8,460     8,421  
    Retained earnings   138,142     135,276     134,271     132,666     131,624  
    Accumulated other comprehensive income (loss), net of tax   (15,814 )   (20,503 )   (20,775 )   (20,689 )   (26,190 )
    Treasury stock, at cost – 1,385,204, 1,362,416, 1,343,149, 1,326,063 and          
      1,316,601 shares, respectively   (21,552 )   (20,983 )   (20,579 )   (20,180 )   (19,977 )
               
       Total stockholders’ equity   118,373     111,347     110,413     109,287     102,908  
               
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,475,968   $ 1,485,639   $ 1,418,558   $ 1,424,100   $ 1,437,245  
               
    PSB Holdings, Inc.                
    Consolidated Statements of Income                
                          Quarter Ended     Nine Months Ended
    (dollars in thousands, Sep. 30, Jun. 30, Mar. 31, Dec. 31, Sep. 30,   September
    except per share data – unaudited) 2024 2024 2024   2023   2023   2024 2023
                     
    Interest and dividend income:                
       Loans, including fees $ 15,634 $ 15,433 $ 15,109   $ 14,888   $ 14,263   $ 46,176   $ 38,745  
       Securities:                
          Taxable   1,345   1,295   1,197     1,147     1,114     3,837     3,772  
          Tax-exempt   522   521   526     532     533     1,569     1,605  
       Other interest and dividends   699   265   343     320     238     1,307     531  
                     
             Total interest and dividend income   18,200   17,514   17,175     16,887     16,148     52,889     44,653  
                     
    Interest expense:                
       Deposits   5,905   5,838   6,082     5,526     4,817     17,825     11,467  
       FHLB advances   2,038   1,860   1,450     1,349     1,321     5,348     3,068  
       Other borrowings   57   58   60     54     51     175     161  
       Senior subordinated notes   59   58   59     59     59     176     179  
       Junior subordinated debentures   252   255   251     254     255     758     731  
                     
             Total interest expense   8,311   8,069   7,902     7,242     6,503     24,282     15,606  
                     
    Net interest income   9,889   9,445   9,273     9,645     9,645     28,607     29,047  
    Provision for credit losses   –   100   95     100     150     195     350  
                     
    Net interest income after provision for credit losses   9,889   9,345   9,178     9,545     9,495     28,412     28,697  
                     
    Noninterest income:                
       Service fees   367   350   336     360     349     1,053     1,088  
       Mortgage banking income   433   433   308     247     345     1,174     981  
       Investment and insurance sales commissions   230   222   121     100     158     573     810  
       Net loss on sale of securities   –   –   (495 )   (297 )   –     (495 )   (279 )
       Increase in cash surrender value of life insurance   165   159   157     154     155     481     461  
       Life insurance death benefit   –   –   –     –     –     –     533  
       Other noninterest income   648   742   617     540     675     2,007     2,022  
                     
             Total noninterest income   1,843   1,906   1,044     1,104     1,682     4,793     5,616  
                     
    Noninterest expense:                
       Salaries and employee benefits   4,771   5,167   5,123     4,244     4,514     15,061     14,404  
       Occupancy and facilities   757   733   721     675     689     2,211     2,086  
       Loss (gain) on foreclosed assets   1   –   –     1     –     1     (46 )
       Data processing and other office operations   1,104   1,047   1,022     1,001     953     3,173     2,784  
       Advertising and promotion   164   171   129     244     161     464     489  
       Core deposit intangible amortization   17   20   24     24     24     61     85  
       Other noninterest expenses   1,337   1,257   1,306     1,169     1,113     3,900     3,388  
                     
            Total noninterest expense   8,151   8,395   8,325     7,358     7,454     24,871     23,190  
                     
    Income before provision for income taxes   3,581   2,856   1,897     3,291     3,723     8,334     11,123  
    Provision for income taxes   593   410   169     878     2,374     1,172     3,967  
                     
    Net income $ 2,988 $ 2,446 $ 1,728   $ 2,413   $ 1,349   $ 7,162   $ 7,156  
    Preferred stock dividends declared $ 122 $ 122 $ 122   $ 122   $ 122   $ 366   $ 366  
                     
    Net income available to common shareholders $ 2,866 $ 2,324 $ 1,606   $ 2,291   $ 1,227   $ 6,796   $ 6,790  
    Basic earnings per common share $ 0.69 $ 0.56 $ 0.39   $ 0.55   $ 0.29   $ 1.64   $ 1.61  
    Diluted earnings per common share $ 0.69 $ 0.56 $ 0.39   $ 0.55   $ 0.29   $ 1.64   $ 1.61  
                     
    PSB Holdings, Inc.          
    Quarterly Financial Summary          
    (dollars in thousands, except per share data) Quarter ended
        Sep. 30, Jun. 30, Mar. 31, Dec. 31, Sep. 30,
    Earnings and dividends:   2024     2024     2024     2023     2023  
                 
      Interest income $ 18,200   $ 17,514   $ 17,175   $ 16,887   $ 16,148  
      Interest expense $ 8,311   $ 8,069   $ 7,902   $ 7,242   $ 6,503  
      Net interest income $ 9,889   $ 9,445   $ 9,273   $ 9,645   $ 9,645  
      Provision for credit losses $ –   $ 100   $ 95   $ 100   $ 150  
      Other noninterest income $ 1,843   $ 1,906   $ 1,044   $ 1,104   $ 1,682  
      Other noninterest expense $ 8,151   $ 8,395   $ 8,325   $ 7,358   $ 7,454  
      Net income available to common shareholders $ 2,866   $ 2,324   $ 1,606   $ 2,291   $ 1,227  
                 
      Basic earnings per common share (3) $ 0.69   $ 0.56   $ 0.39   $ 0.55   $ 0.29  
      Diluted earnings per common share (3) $ 0.69   $ 0.56   $ 0.39   $ 0.55   $ 0.29  
      Dividends declared per common share (3) $ –   $ 0.32   $ –   $ 0.30   $ –  
      Tangible net book value per common share (4) $ 26.41   $ 24.55   $ 24.21   $ 23.84   $ 22.25  
                 
      Semi-annual dividend payout ratio n/a   33.60 % n/a   38.14 % n/a
      Average common shares outstanding   4,132,218     4,139,456     4,154,702     4,168,924     4,186,940  
                 
                 
    Balance sheet – average balances:          
      Loans receivable, net of allowances for credit loss $ 1,066,795   $ 1,088,013   $ 1,081,936   $ 1,081,851   $ 1,076,158  
      Assets $ 1,445,613   $ 1,433,749   $ 1,429,437   $ 1,424,240   $ 1,425,522  
      Deposits $ 1,110,854   $ 1,111,240   $ 1,138,010   $ 1,148,399   $ 1,149,624  
      Stockholders’ equity $ 114,458   $ 110,726   $ 109,473   $ 105,060   $ 105,745  
                 
                 
    Performance ratios:          
      Return on average assets (1)   0.82 %   0.69 %   0.49 %   0.67 %   0.38 %
      Return on average common stockholders’ equity (1)   10.63 %   9.03 %   6.32 %   9.29 %   4.94 %
      Return on average tangible common          
        stockholders’ equity (1)(4)   10.96 %   9.34 %   6.57 %   9.64 %   5.17 %
      Net loan charge-offs to average loans (1)   0.00 %   0.00 %   0.00 %   0.00 %   0.00 %
      Nonperforming loans to gross loans   0.97 %   1.15 %   1.08 %   0.54 %   0.55 %
      Nonperforming assets to total assets   0.71 %   0.84 %   0.83 %   0.42 %   0.42 %
      Allowance for credit losses to gross loans   1.18 %   1.16 %   1.14 %   1.13 %   1.10 %
      Nonperforming assets to tangible equity          
        plus the allowance for credit losses (4)   8.71 %   11.09 %   10.59 %   5.38 %   5.87 %
      Net interest rate margin (1)(2)   2.90 %   2.84 %   2.80 %   2.88 %   2.88 %
      Net interest rate spread (1)(2)   2.16 %   2.15 %   2.12 %   2.20 %   2.27 %
      Service fee revenue as a percent of          
        average demand deposits (1)   0.56 %   0.56 %   0.54 %   0.52 %   0.50 %
      Noninterest income as a percent          
        of gross revenue   9.20 %   9.81 %   5.73 %   6.14 %   9.43 %
      Efficiency ratio (2)   68.43 %   72.52 %   78.93 %   67.04 %   64.58 %
      Noninterest expenses to average assets (1)   2.24 %   2.35 %   2.34 %   2.05 %   2.07 %
      Average stockholders’ equity less accumulated          
        other comprehensive income (loss) to          
        average assets   9.06 %   9.03 %   8.98 %   8.88 %   9.00 %
      Tangible equity to tangible assets (4)   7.85 %   7.32 %   7.60 %   7.49 %   6.98 %
                 
    Stock price information:          
                 
      High $ 25.00   $ 21.40   $ 22.50   $ 22.30   $ 22.50  
      Low $ 20.30   $ 19.75   $ 20.05   $ 20.10   $ 20.35  
      Last trade value at quarter-end $ 25.00   $ 20.40   $ 21.25   $ 22.11   $ 21.15  
                 
    (1) Annualized          
    (2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%.
    (3) Due to rounding, cumulative quarterly per share performance may not equal annual per share totals.  
    (4) Tangible stockholders’ equity excludes goodwill and core deposit intangibles.      
           
    PSB Holdings, Inc.          
    Consolidated Statements of Comprehensive Income        
                     
            Quarter Ended
            Sep. 30, Jun. 30, Mar. 31, Dec. 31, Sep. 30,
    (dollars in thousands – unaudited)   2024     2024     2024     2023     2023  
                     
    Net income $ 2,988   $ 2,446   $ 1,728   $ 2,413   $ 1,349  
                     
    Other comprehensive income, net of tax:          
                     
      Unrealized gain (loss) on securities available        
        for sale   4,738     184     (615 )   5,278     (3,085 )
                     
      Reclassification adjustment for security          
        loss included in net income   –     –     391     280     –  
                     
      Accretion of unrealized loss included in net          
        income on securities available for sale          
        deferred tax adjustment for Wisconsin          
        Act 19   –     –     (35 )   –     –  
                     
      Amortization of unrealized loss included in net        
        income on securities available for sale          
        transferred to securities held to maturity   90     89     91     91     91  
                     
      Unrealized gain (loss) on interest rate swap   (101 )   39     123     (109 )   79  
                     
      Reclassification adjustment of interest rate          
        swap settlements included in earnings   (38 )   (40 )   (41 )   (39 )   (35 )
                     
                     
    Other comprehensive income (loss)   4,689     272     (86 )   5,501     (2,950 )
                     
    Comprehensive income (loss) $ 7,677   $ 2,718   $ 1,642   $ 7,914   $ (1,601 )
                     

       

    PSB Holdings, Inc.          
    Nonperforming Assets as of:          
      Sep 30, Jun 30, Mar 31, Dec 31, Sep 30,
    (dollars in thousands)   2024     2024     2024     2023     2023  
               
    Nonaccrual loans (excluding restructured loans) $ 10,116   $ 12,184   $ 11,498   $ 5,596   $ 5,807  
    Nonaccrual restructured loans   25     28     30     34     42  
    Restructured loans not on nonaccrual   292     299     304     310     256  
    Accruing loans past due 90 days or more   –     –     –     –     –  
               
    Total nonperforming loans   10,433     12,511     11,832     5,940     6,105  
    Other real estate owned   –     –     –     –     –  
               
    Total nonperforming assets $ 10,433   $ 12,511   $ 11,832   $ 5,940   $ 6,105  
               
    Nonperforming loans as a % of gross loans receivable   0.97 %   1.15 %   1.08 %   0.54 %   0.55 %
    Total nonperforming assets as a % of total assets   0.71 %   0.84 %   0.83 %   0.42 %   0.42 %
    Allowance for credit losses as a % of nonperforming loans   120.75 %   100.69 %   105.59 %   207.10 %   200.93 %
               
    PSB Holdings, Inc.      
    Nonperforming Assets >= $500,000 net book value before specific reserves    
    At September 30, 2024      
    (dollars in thousands)      
        Gross Specific
    Collateral Description Asset Type Principal Reserves
           
    Real estate – Recreation Facility Nonaccrual $ 3,291   $ –  
    Real estate – Independent Auto Repair Nonaccrual   562     –  
    Real estate – Equipment Dealership Nonaccrual   2,808     660  
           
           
    Total listed nonperforming assets   $ 6,661   $ 660  
    Total bank wide nonperforming assets   $ 10,433   $ 1,220  
    Listed assets as a % of total nonperforming assets     64 %   54 %
           
    PSB Holding, Inc.          
    Loan Composition by Collateral Type          
    Quarter-ended (dollars in thousands) Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023
               
    Commercial:          
    Commercial and industrial $ 115,234   $ 125,508   $ 118,821   $ 117,207   $ 138,299  
    Agriculture   11,203     11,480     12,081     12,304     12,464  
    Municipal   12,596     11,190     28,842     31,530     27,186  
               
    Total Commercial   139,033     148,178     159,744     161,041     177,949  
               
    Commercial Real Estate:          
    Commercial real estate   541,577     544,171     546,257     536,209     539,488  
    Construction and development   60,952     70,540     63,375     81,701     86,456  
               
    Total Commercial Real Estate   602,529     614,711     609,632     617,910     625,944  
               
    Residential real estate:          
    Residential   269,954     270,944     274,300     274,453     274,632  
    Construction and development   34,655     36,129     34,158     33,960     33,141  
    HELOC   36,734     33,838     31,357     29,766     29,044  
               
    Total Residential Real Estate   341,343     340,911     339,815     338,179     336,817  
               
    Consumer installment   4,770     4,423     4,867     4,357     4,350  
               
    Subtotals – Gross loans   1,087,675     1,108,223     1,114,058     1,121,487     1,145,060  
    Loans in process of disbursement   (17,836 )   (21,484 )   (20,839 )   (31,359 )   (35,404 )
               
    Subtotals – Disbursed loans   1,069,839     1,086,739     1,093,219     1,090,128     1,109,656  
    Net deferred loan costs   733     702     669     649     630  
    Allowance for credit losses   (12,598 )   (12,597 )   (12,494 )   (12,302 )   (12,267 )
               
    Total loans receivable $ 1,057,974   $ 1,074,844   $ 1,081,394   $ 1,078,475   $ 1,098,019  
               
    PSB Holding, Inc.                            
    Selected Commercial Real Estate Loans by Purpose                    
      Sept 30,   June 30,   Mar 31,   Dec 31,   Sept 30,
     (dollars in thousands)   2024       2024       2024       2023       2023  
                                 
      Total Exposure % of Portfolio (1)   Total Exposure % of Portfolio (1)   Total Exposure % of Portfolio (1)   Total Exposure % of Portfolio (1)   Total Exposure % of Portfolio (1)
    Multi Family $ 140,307 14.7 %   $ 146,873 15.2 %   $ 142,001 14.4 %   $ 132,386 13.2 %   $ 133,466 13.3 %
    Industrial and Warehousing   86,818 9.1       86,025 8.9       85,409 8.6       83,817 8.3       88,906 8.9  
    Retail   33,020 3.5       34,846 3.6       33,177 3.4       35,419 3.5       35,281 3.5  
    Hotels   31,611 3.3       34,613 3.6       35,105 3.6       36,100 3.6       31,819 3.2  
    Office   6,378 0.7       6,518 0.7       6,655 0.7       6,701 0.7       6,746 0.7  
                                 
    (1) Percentage of commercial and commercial real estate portfolio and commitments.              
                   
    PSB Holdings, Inc.                    
    Deposit Composition                    
                         
    Insured and Collateralized Deposits September 30, June 30, March 31, December 31, September 30,
    (dollars in thousands)   2024     2024     2024     2023     2023  
      $ % $ % $ % $ % $ %
                         
    Non-interest bearing demand $ 210,534 18.6 % $ 202,343 17.5 % $ 199,076 17.8 % $ 197,571 17.3 % $ 209,133 17.9 %
    Interest-bearing demand and savings   305,631 26.8 %   304,392 26.5 %   318,673 28.7 %   317,984 27.8 %   307,620 26.3 %
    Money market deposits   138,376 12.2 %   137,637 12.0 %   143,167 12.9 %   142,887 12.5 %   135,910 11.4 %
    Retail and local time deposits <= $250   155,988 13.7 %   149,298 13.0 %   148,404 13.3 %   149,145 13.1 %   144,738 12.4 %
                         
    Total core deposits   810,529 71.3 %   793,670 69.0 %   809,320 72.7 %   807,587 70.7 %   797,401 68.0 %
    Retail and local time deposits > $250   23,500 2.1 %   22,500 2.0 %   24,508 2.3 %   23,000 2.0 %   22,750 1.9 %
    Broker & national time deposits <= $250   1,241 0.1 %   1,490 0.1 %   2,229 0.2 %   3,470 0.3 %   3,222 0.3 %
    Broker & national time deposits > $250   56,164 4.9 %   56,328 4.9 %   61,752 5.5 %   70,020 6.1 %   88,614 7.6 %
                         
    Totals $ 891,434 78.4 % $ 873,988 76.0 % $ 897,809 80.7 % $ 904,077 79.1 % $ 911,987 77.8 %
                         
    PSB Holdings, Inc.                    
    Deposit Composition                    
                         
    Uninsured Deposits September 30, June 30, March 31, December 31, September 30,
    (dollars in thousands)   2024     2024     2024     2023     2023  
      $ % $ % $ % $ % $ %
                         
    Non-interest bearing demand $ 54,544 4.7 % $ 48,092 4.1 % $ 48,532 4.4 % $ 69,258 6.1 % $ 79,632 6.8 %
    Interest-bearing demand and savings   18,317 1.6 %   32,674 2.8 %   20,535 1.8 %   20,316 1.8 %   22,847 1.9 %
    Money market deposits   157,489 13.8 %   177,954 15.4 %   124,766 11.2 %   124,518 10.9 %   133,653 11.4 %
    Retail and local time deposits <= $250   – 0.0 %   – 0.0 %   – 0.0 %   – 0.0 %   – 0.0 %
                         
    Total core deposits   230,350 20.1 %   258,720 22.3 %   193,833 17.4 %   214,092 18.8 %   236,132 20.1 %
    Retail and local time deposits > $250   17,329 1.5 %   19,613 1.7 %   21,710 1.9 %   23,633 2.1 %   24,120 2.1 %
    Broker & national time deposits <= $250   – 0.0 %   – 0.0 %   – 0.0 %   – 0.0 %   – 0.0 %
    Broker & national time deposits > $250   – 0.0 %   – 0.0 %   – 0.0 %   – 0.0 %   – 0.0 %
                         
    Totals $ 247,679 21.6 % $ 278,333 24.0 % $ 215,543 19.3 % $ 237,725 20.9 % $ 260,252 22.2 %
                         
    PSB Holdings, Inc.                    
    Deposit Composition                    
                         
    Total Deposits September 30, June 30, March 31, December 31, September 30,
    (dollars in thousands)   2024     2024     2024     2023     2023  
      $ % $ % $ % $ % $ %
                         
    Non-interest bearing demand $ 265,078 23.3 % $ 250,435 21.6 % $ 247,608 22.2 % $ 266,829 23.4 % $ 288,765 24.7 %
    Interest-bearing demand and savings   323,948 28.4 %   337,066 29.3 %   339,208 30.5 %   338,300 29.6 %   330,467 28.2 %
    Money market deposits   295,865 26.0 %   315,591 27.4 %   267,933 24.1 %   267,405 23.4 %   269,563 22.8 %
    Retail and local time deposits <= $250   155,988 13.7 %   149,298 13.0 %   148,404 13.3 %   149,145 13.1 %   144,738 12.4 %
                         
    Total core deposits   1,040,879 91.4 %   1,052,390 91.3 %   1,003,153 90.1 %   1,021,679 89.5 %   1,033,533 88.1 %
    Retail and local time deposits > $250   40,829 3.6 %   42,113 3.7 %   46,218 4.2 %   46,633 4.1 %   46,870 4.0 %
    Broker & national time deposits <= $250   1,241 0.1 %   1,490 0.1 %   2,229 0.2 %   3,470 0.3 %   3,222 0.3 %
    Broker & national time deposits > $250   56,164 4.9 %   56,328 4.9 %   61,752 5.5 %   70,020 6.1 %   88,614 7.6 %
                         
    Totals $ 1,139,113 100.0 % $ 1,152,321 100.0 % $ 1,113,352 100.0 % $ 1,141,802 100.0 % $ 1,172,239 100.0 %
                         
    PSB Holdings, Inc.                      
    Average Balances ($000) and Interest Rates                  
    (dollars in thousands)                      
                           
      Quarter ended September 30, 2024   Quarter ended June 30, 2024   Quarter ended September 30, 2023
      Average   Yield /   Average   Yield /   Average   Yield /
      Balance Interest Rate   Balance Interest Rate   Balance Interest Rate
    Assets                      
    Interest-earning assets:                      
       Loans (1)(2) $ 1,079,393   $ 15,674 5.78 %   $ 1,100,518   $ 15,520 5.67 %   $ 1,088,137   $ 14,337 5.23 %
       Taxable securities   177,520     1,345 3.01 %     172,563     1,295 3.02 %     173,287     1,114 2.55 %
       Tax-exempt securities (2)   79,472     661 3.31 %     79,564     659 3.33 %     81,327     675 3.29 %
       FHLB stock   8,825     176 7.93 %     7,931     182 9.23 %     6,368     127 7.91 %
       Other   36,680     523 5.67 %     8,241     83 4.05 %     8,195     111 5.37 %
                           
       Total (2)   1,381,890     18,379 5.29 %     1,368,817     17,739 5.21 %     1,357,314     16,364 4.78 %
                           
    Non-interest-earning assets:                    
       Cash and due from banks   17,162           17,345           19,299      
       Premises and equipment,                    
          net   14,216           13,930           13,266      
       Cash surrender value ins   24,458           24,297           23,840      
       Other assets   20,485           21,865           23,782      
       Allowance for credit                      
          losses   (12,598 )         (12,505 )         (11,979 )    
                           
       Total $ 1,445,613     $ 1,433,749     $ 1,425,522  
                           
    Liabilities & stockholders’ equity                    
    Interest-bearing liabilities:                    
       Savings and demand                      
          deposits $ 323,841   $ 1,515 1.86 %   $ 331,740   $ 1,467 1.78 %   $ 335,214   $ 1,198 1.42 %
       Money market deposits   277,884     1,876 2.69 %     271,336     1,835 2.72 %     255,823     1,489 2.31 %
       Time deposits   247,296     2,514 4.04 %     257,006     2,536 3.97 %     279,971     2,130 3.02 %
       FHLB borrowings   182,414     2,038 4.44 %     174,596     1,860 4.28 %     134,386     1,321 3.90 %
       Other borrowings   6,702     57 3.38 %     6,870     58 3.40 %     5,681     51 3.56 %
     Senior sub. notes   4,779     59 4.91 %     4,777     58 4.88 %     4,772     59 4.91 %
       Junior sub. debentures   12,985     252 7.72 %     12,960     255 7.91 %     12,883     255 7.85 %
                           
       Total   1,055,901     8,311 3.13 %     1,059,285     8,069 3.06 %     1,028,730     6,503 2.51 %
                           
    Non-interest-bearing liabilities:                    
       Demand deposits   261,833           251,158           278,616      
       Other liabilities   13,421           12,580           12,431      
       Stockholders’ equity   114,458           110,726           105,745      
                           
       Total $ 1,445,613     $ 1,433,749     $ 1,425,522  
                           
    Net interest income   $ 10,068       $ 9,670       $ 9,861  
    Rate spread     2.16 %       2.15 %       2.27 %
    Net yield on interest-earning assets   2.90 %       2.84 %       2.88 %
                           
    (1) Nonaccrual loans are included in the daily average loan balances outstanding.          
    (2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%.  
                           
    PSB Holdings, Inc.              
    Average Balances ($000) and Interest Rates          
    (dollars in thousands)              
        Nine months ended September 30, 2024   Nine months ended September 30, 2023
        Average   Yield/   Average   Yield/
        Balance Interest Rate   Balance Interest Rate
    Assets              
    Interest-earning assets:              
       Loans (1)(2) $ 1,091,366   $ 46,393 5.68 %   $ 1,025,955   $ 38,851 5.06 %
       Taxable securities   173,971     3,837 2.95 %     189,583     3,772 2.66 %
       Tax-exempt securities (2)   79,822     1,986 3.32 %     81,670     2,032 3.33 %
       FHLB stock   7,755     523 9.01 %     4,943     228 6.17 %
       Other   18,804     784 5.57 %     8,154     303 4.97 %
                     
       Total (2)   1,371,718     53,523 5.21 %     1,310,305     45,186 4.61 %
                     
    Non-interest-earning assets:              
       Cash and due from banks   17,291           17,403      
       Premises and equipment,              
          net   13,778           13,311      
       Cash surrender value ins   24,301           24,446      
       Other assets   21,146           23,364      
       Allowance for credit              
          losses   (12,496 )         (12,004 )    
                     
       Total $ 1,435,738     $ 1,376,825  
                     
    Liabilities & stockholders’ equity            
    Interest-bearing liabilities:              
       Savings and demand              
          deposits $ 335,317   $ 4,654 1.85 %   $ 350,928   $ 3,286 1.25 %
       Money market deposits   274,405     5,608 2.73 %     241,594     3,508 1.94 %
       Time deposits   256,287     7,563 3.94 %     257,639     4,673 2.43 %
       FHLB borrowings   166,703     5,348 4.29 %     110,460     3,068 3.71 %
       Other borrowings   7,373     175 3.17 %     7,082     161 3.04 %
       Senior sub. notes   4,778     176 4.92 %     4,965     179 4.82 %
       Junior sub. debentures   12,972     758 7.81 %     12,857     731 7.60 %
                     
       Total   1,057,835     24,282 3.07 %     985,525     15,606 2.12 %
                     
    Non-interest-bearing liabilities:            
       Demand deposits   254,134           273,699      
       Other liabilities   12,720           12,165      
       Stockholders’ equity   111,049           105,436      
                     
       Total $ 1,435,738     $ 1,376,825  
                     
    Net interest income   $ 29,241       $ 29,580  
    Rate spread     2.14 %       2.49 %
    Net yield on interest-earning assets   2.85 %       3.02 %
                     
    (1) Nonaccrual loans are included in the daily average loan balances outstanding.    
    (2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%.
                     

    The MIL Network –

  • MIL-OSI: cBrain lowers expected yearly revenue growth to 10-15%, but maintains EBT margin of 24-28%

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement no. 10/2024

    cBrain lowers expected yearly revenue growth to 10-15%, but maintains EBT margin of 24-28%

    Copenhagen, November 28, 2024

    cBrain (NASDAQ: CBRAIN) is executing its international growth plan with a financial goal of reaching total revenue of 350 million DKK in 2025. This goal is anchored in two primary revenue streams, referred to as “Base” and “Stepping stones”. 

    The “Base” stream aims to achieve annual revenue growth of 10-15% by strengthening and expanding existing operations and customer relationships. In parallel, the “Stepping Stones” initiative aims to lift annual revenue growth to 30%, by increasing contract values and winning larger international contracts.

    cBrain continues to execute its growth strategy, building a robust pipeline of major opportunities. This is facilitated by a growing number of international pilot projects that set the stage for significant “Stepping Stones” achievements.

    In early 2024, cBrain anticipated some of these opportunities, particularly in Germany and the U.S., to yield significant revenue in the second half of the year. cBrain remains highly active in these pursuits and has added further opportunities during the year.

    However, not unusually with larger government procurement, delays in decision making mean that cBrain estimates less than a 50% likelihood of substantial revenue from larger international projects materializing in Q4. Consequently, cBrain adjusts its 2024 revenue growth forecast to 10-15%, down from the initial estimate of 20-25%.

    In alignment with business planning, cBrain has earmarked financial investments to support “Stepping Stones” projects in Germany and the U.S. Since these projects have not yet materialized, these reserved funds have not been deployed. This provides a positive impact on earnings. cBrain, therefore, maintains its EBT (Earnings Before Tax) guidance at 24-30%.

    —

    Larger international projects are often structured so that F2 standard software licenses form the majority of the contract value. Due to financial standards for software revenue recognition, larger international orders may, as a result, introduce greater variability in revenue patterns over time.

    As cBrain is currently pursuing global opportunities across the USA, Europe, Africa, the UAE, and India, some of these opportunities may still materialize during the fourth quarter, with a positive affect on this year’s revenue.
    ​

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to

    Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973

    Attachment

    The MIL Network –

  • MIL-OSI NGOs: Echoes from Darfur Sudan

    Source: Médecins Sans Frontières –

    One and a half years into the conflict in Sudan, refugees are still fleeing to eastern Chad in search for safety, where they arrive at camps in dire conditions. Access to clean water, sanitation and healthcare facilities is limited. We met Aziz, Youssef, Salwa, and Amina to hear their stories of fleeing the Darfur region of Sudan and survival in eastern Chad.

    Aziz Adam, displaced from West Darfur

    “My family is incomplete here. My mom, my dad, seven of us siblings- there’s nine of us in total. But the war separated us. Some of my family made it out of West Darfur, but the rest haven’t joined us yet. 

    We fled in a state of panic, terrified of the war. We didn’t have time to take anything with us, and some of us even arrived barefoot. 

    We walked 20 kilometres to get here, on foot. Along the way, we encountered the Rapid Support Forces who threatened us. Some of the young men traveling with us were accused of belonging to the Masalit tribe. They were arrested and killed. We thought we would die too. I couldn’t imagine we’d survive.

    The memories of fleeing stay with me. When I think about the tragedies, what pain we left behind, there’s no way I can go back.

    But I hear some people say they would rather return to the war in Sudan than endure the hell we face in the camp.

    I got here in July of last year, so it’s been almost a year, and now I’m 24 years old. Our situation is tragic. We left one difficult situation, only to find ourselves in an even worse one. 

    We lack the basic necessities for living— drinking water and food. It’s been four or five months in Iridimi camp since we last received any food aid. 

    Now, my family and I are desperate. We need education, healthcare, and a better future. But the reality we live in is bleak. I feel stuck, caught between Sudan, where the future is uncertain, and Chad, where I don’t belong.”

    Salwa Saleh, displaced from South Darfur

    “We used to live an urban life, but we’ve been displaced from our cities. It’s hard to accept living in a camp. And even some of my family members are still in Sudan. They always say they won’t leave because Sudan is their country. We all hope the war will end soon, we all want to return to our homeland.

    The war took us by surprise. We left in such a rush that we didn’t have time to take any of our important belongings or memories. I left behind so many beautiful things in Nyala. My children lost their father; now they are orphans. To get here we had to journey from Nyala to Tina, and that usually takes two days. But it took us four. We passed through areas of fighting between the Rapid Support Forces and the Sudanese Armed Forces. It was terrifying and exhausting.

    I’ve been in this camp for a year and two months. Living here, it’s like living in a house without walls or a fence. We still suffer from a lack of food, clean drinking water, proper education, hospitals, and medical care.

    Before the war, we would go to work and return home to our children. We could easily meet our needs. But since the war started, life has become much more difficult. I hope for the day when life returns to normal, when we find security and stability. When our children can go back to their schools.

    I hope for a better future for my children. When the war in Sudan ends, I dream of having the chance to travel, completing my education, learning new languages, and finding a job. I want to provide for my children and support my family.”

    Youssef Mohamed, displaced from North Darfur

    “I think constantly, which makes it hard to sleep. My family is far away, the war is ongoing, and every day brings news of more deaths. I have my wife and two children, a boy and a girl, but they are all in Kabkabiya, about 156 kilometres west of El Fasher.

    I’ve been here for about eight months, and I’m originally from North Darfur, 57 years old now. I came here to Iriba in east Chad coming from Adre, looking for work, but unfortunately, I couldn’t find a job. I left my family behind for this, so it’s difficult. My wife, my brothers, and sisters are scattered in different places. My children have been out of school for almost a year. They haven’t studied since last June. The war has destroyed everything.

    I’ve been living with diabetes for 12 years. Before the war, I would go to Khartoum for treatment. I was in Khartoum when the war broke out. I spent a month there, then moved to Gezira State for five months before heading to El Fasher. Along the way, I faced harassment, beatings, threats, and humiliation from the armed forces.

    As a diabetic, I need regular medical care, including eye, liver, and kidney tests every three months. But since coming here, I haven’t found any of these services. The treatment for diabetes is either too expensive or unavailable in Chad. I also need a specific diet, but here, things like vegetables and fruits are hard to find.

    Before the war, I had my own office in the market and was the principal of a school. I used to grow beans, sesame, and maize, but the war disrupted all of that.

    Educating my children is the most important thing for me now, but they are still in Kabkabiya, and I don’t know their fate. Sometimes there are airstrikes, and I worry they might be hit because the area is at war.
    My mother, brother, and sisters live in Shaqra, but even there, no place in Sudan is safe from the shells. I brought with me only a few photos of my children and family, as well as some teaching materials on flash drives.

    I hope to return to Sudan. I want my children to go to school, for my family to be stable, and for Sudan to be better than it was before.”

    Amina Suleiman, displaced from Central Darfur

    “The war started in Zalingei, where I’m from, on 15 April 2023- the same day it started in Khartoum. We kept hoping it would end, but it didn’t. What I witnessed in Zalingei and during our displacement will never leave me. The memories are etched in my mind, and they haunt our children too. They are playing with sticks, pretending they have weapons. Children are living with the trauma of war.

    In Sudan, we used to hide under beds to shield ourselves from the bombings. Those memories are painful, but here, we face even greater hardships. I’m 24 now, and I don’t know if I have a future. The children here, some are two or three years old, they deserve something better.

    I’ve been living in this camp for a year and a month, since 4 August 2023. Life here is hard. We’ve only received financial aid five times since we arrived. And food and water are scarce. We normally get them every two days, but even sometimes it’s after waiting four days.

    There are no jobs here, even for those of us who are educated. Our situation is critical. We’re also facing a health crisis. There is no health centre in the camp. We don’t have specialist doctors for heart or eye diseases, and many are suffering, including women needing obstetric care. In our previous camp, that health centre didn’t have medicines.

    We need psychological support. Many of us have lost family members to the war. People are missing, scattered across Sudan, or still in Darfur. The war has torn us apart, separating us from our loved ones. All of us here in the camp are missing someone.

    If I had the choice, I’d rather return to Sudan, even if it meant dying there. That would be better than dying in this camp.”

    MIL OSI NGO –

  • MIL-OSI Global: Michiganders or Michiganians? A linguist explains why the answer is clear

    Source: The Conversation – USA – By Robin Queen, Professor of Linguistics, English Language and Literatures and Germanic Languages and Literatures, University of Michigan

    Beloved Michigander Aidan Hutchinson is no silly goose. Nic Antaya/Getty Images

    Growing up in the late 1970s, my best friend was from Michigan. Early in our friendship I asked her what someone from Michigan is called. “Michigander,” she replied. I laughed and said, “You mean like a goose?” Her older sister then chimed in that it was being changed to Michiganian. Michigander is sexist, she said, since gander refers only to a male goose.

    I spent the next two decades never questioning, or particularly thinking about, Michiganian.

    Then, I moved to Michigan. In over 20 years living here, I’ve never heard anyone say Michiganian. People from Michigan call themselves Michiganders.

    Even though it may seem rather trivial, there is endless interest in the Michigander-Michiganian question. News articles about this topic pop up fairly regularly, inevitably stating that:

    1. Both terms are recognized.

    2. Abraham Lincoln coined “Michigander” in 1848 to insult Michigan Gov. Lewis Cass, implying he was silly, weak and unserious.

    3. Govs. James Blanchard, John Engler and Jennifer Granholm used “Michiganian,” while Govs. Rick Snyder and Gretchen Whitmer prefer “Michigander.”

    4. The debate about which term is correct is ongoing.

    For the most part, though, the debate seems long over. Many Michiganders haven’t heard of Michiganian, as a recent text thread with my 19-year-old neighbor illustrates:

    ‘It’s just Michigander.’
    Robin Queen, CC BY-SA

    Regardless of whether there is – or ever really has been – a debate, the pas de deux between Michigander and Michiganian has an unusual history and peculiar twists and turns.

    As a linguist who works on issues related to authority in language and linguistic justice, I like to investigate how terms come to be understood as correct, and on whose authority those determinations are made.

    In the case of Michiganian and Michigander, Michiganian appears in style guides, and Michigander is the term most frequently used by people from Michigan.

    Rooted in an insult

    While it’s true that Lincoln called Cass “the great Michigander” as an unambiguous insult, the term Michigander appeared in print as early as 1838.

    Despite not having coined the term, however, Lincoln did likely play a part in its popularization by using it to malign Cass.

    Google’s NGram, which tracks how often terms appear in a large collection of print sources, shows Michigander has been used more frequently in print than Michiganian since around 1845.

    Michigander has outperformed Michiganian in print for over 175 years.
    Google NGram

    No specific law designates the use of one term or the other, but the terms do appear in two Michigan laws.

    The first is in the Older Michiganians Act, which was passed in 1981.

    The second is tied to the Historical Markers Act. The original act, established in 1955, used the term Michigander, but an amendment to it in 2002 changed the term to Michiganian. In 2017, the act was updated and the moniker was changed back to Michigander.

    Interestingly, the federal government, in the form of the U.S. Government Publishing Office’s Style Manual, specifies Michiganian as the correct term. This represents a change from Michiganite, which was the term specified in the Style Manual from 1945 to 2000, likely as a match to terms such as Wisconsinite.

    It’s difficult to know the origins of Michigander prior to 1848, but Lincoln did likely coin the term Michigander as a blend of Michigan and gander, leading to the possibility for goose jokes and humor. While other states have unusual monikers – such as Hoosiers for Indiana – none involves an animal pun like gander.

    The humorous aspect of Michigander is what likely keeps the articles, Reddit threads and friendly banter going.

    In 1947, the American journalist and essayist H.L. Mencken wrote, “The chief objection to Michigander is that it inspires idiots to call a Michigan woman a Michigoose and a child a Michigosling, but the people of the State have got used to this …”

    Funny or sexist?

    Gander humor reigns when it comes to Michigander. But perhaps more importantly, Michigander provides a greater sense of belonging and identity than Michiganian, despite the fact that there are those who find Michiganian has more finesse.

    That sense of identity is evident in the many pairings of Michigander with other charming things that are a part of living in Michigan, such as using your hand to show where in the mitten-shaped state you are from.

    How Michiganders explain where they’re from.
    (WT-en) TVerBeek at English Wikivoyage, CC BY-SA

    Given that gander designates a male goose, Michigander does raise questions about sexism.

    The rise in the use of Michiganian along with the fall of Michigander from the late 1970s to the early 2000s occurred alongside broader recognition of sexism in different realms of social life. It corresponds with a variety of changes to the terms people had been using, such as chairman, waitress and fireman. In 2024, it is unremarkable to refer instead to a chair or chairperson, a server, or a firefighter.

    So, why hang on to Michigander?

    Given that Whitmer is a proud and consistent user of Michigander, the most likely answer is that people from Michigan don’t feel the term is exclusionary. As a colleague of mine, a Michigan-raised feminist activist in her 60s, told me, “Do we not have real issues of sexism in the vernacular? I never heard anyone use any other term growing up.”

    Michigan Gov. Gretchen Whitmer has no qualms with Michigander.
    GIPHY News

    Over the past several days, I’ve asked over two dozen people who were born and raised in Michigan what they call someone from Michigan. To a person, they have said Michigander. They range in age from 19-89, have different gender identities and racial affiliations, and have a wide range of professions and political orientations.

    Only one had ever heard anyone referred to as a Michiganian, while a third had never heard the term Michiganian at all.

    My results reflect other poll results about these terms. A clear majority choose Michigander.

    When the people of Michigan say they are Michiganders, it’s odd to insist that they are Michiganians. And even those few, such as The Detroit News, who prefer Michiganian acknowledge that Michigander is more broadly preferred.

    Ultimately the debate rests on whether it’s the people from Michigan or some other entity, such as the Government Publishing Office, that decides which term should be used. If we grant the people of Michigan the right to name themselves, the verdict is clear.

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

    – ref. Michiganders or Michiganians? A linguist explains why the answer is clear – https://theconversation.com/michiganders-or-michiganians-a-linguist-explains-why-the-answer-is-clear-241664

    MIL OSI – Global Reports –

  • MIL-OSI Video: 10/16/24: Press Briefing by Press Secretary Karine Jean-Pierre

    Source: United States of America – The White House (video statements)

    The White House

    https://www.youtube.com/watch?v=q7Uys-DlUNA

    MIL OSI Video –

  • MIL-OSI United Kingdom: First UK survey on sensory loss begins this month

    Source: Anglia Ruskin University

    Published: 28 October 2024 at 11:36

    Project to provide robust data on vision and hearing loss starts in Cambridgeshire

    For the first time, robust data on the sensory health of the nation will be collected thanks to a study beginning this month in Cambridgeshire and Peterborough.

    The UK does not have an accurate set of data on vision and hearing loss, resulting in a lack of evidence to inform health policies and programmes, and is falling behind nations such as Trinidad and Tobago, Australia, USA, Nepal and Bangladesh that all have national sensory loss studies. It is estimated that 50% of all sight loss is avoidable.

    The UK National Eye Health and Hearing Study (UKNEHS) is a collaboration between sensory loss charities, Anglia Ruskin University (ARU), leading eye and hearing care professionals and the public sector to record accurate data on vision and hearing health to give confidence to the NHS and policymakers when making vital decisions that affect people’s health.

    This NHS research study has received charitable and National Institute for Health and Care Research (NIHR) support funding to operate an initial study in Cambridgeshire and Peterborough that will see UKNEHS medical professionals visit households in randomly selected postcodes from late October this year until February 2025. The visits are first to introduce the study and then to invite those aged 50 years and older for a free local specialist eye and hearing assessment.

    The area has been chosen for its diverse population, rural and urban areas, and wide range of socio-economic factors.

    It is hoped that this initial study will lead to further funding for a UK-wide study that will, for the first time, give an accurate picture of the nation’s sensory health.

    Rupert Bourne, Professor of Ophthalmology at Anglia Ruskin University and Chief Investigator for the UKNEHS, said:

    “Hearing impairment costs the UK an estimated £30 billion each year and visual impairment, including sight loss and blindness, £28 billion.
     
    “Despite these huge costs, the datasets currently used in the UK are of limited value, due to a reliance on international data, or UK data samples that are either very small scale, or not generalisable to the population as a whole. There is subsequently no robust evidence-base upon which to design a prevention strategy or plan services for the future that meet the population’s needs”.
     
    “Our study aims to enable healthcare professionals and policy makers to understand why people are losing their sight and hearing due to preventable causes so they can target the right preventions, treatment, and public health services, providing support to people who really need it.”

    Phase one of the study has seen UKNEHS teams visit care homes in the area to survey the sensory health of residents. On one of these visits, Mayor of Cambridgeshire and Peterborough Dr Nik Johnson observed teams carrying out their work.
     
    Dr Johnson said:

    “Having already seen what’s happened at local nursing homes in terms of the screening, it’s fantastic news that out and about in the near future there will be teams visiting different areas of the county, and local people in the community will have the opportunity to get involved in this study.
     
    “I’d really encourage people to take part and have their hearing and eyes checked.”

    Phase two of the study will involve the UKNEHS teams visiting 750 randomly chosen households in Cambridgeshire and Peterborough. Those who receive an invitation are encouraged to take part in this important national project whatever their vision or hearing status, including those who may be regularly seen by eye or hearing services. It is estimated that 1 out of every 5 people aged 50 plus have impaired eyesight or an eye disease that goes undetected.
     
    The UKNEHS has been developed by Anglia Ruskin University’s Vision and Eye Research Institute in cooperation with the College of Optometrists, the Thomas Pocklington Trust and a number of other partner organisations across the eye health and hearing sector.

    MIL OSI United Kingdom –

  • MIL-OSI: Correction: cBrain lowers expected yearly revenue growth to 10-15%, but maintains EBT margin of 24-30%

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement no. 10/2024

    cBrain lowers expected yearly revenue growth to 10-15%, but maintains EBT margin of 24-30%

    Copenhagen, November 28, 2024

    cBrain (NASDAQ: CBRAIN) is executing its international growth plan with a financial goal of reaching total revenue of 350 million DKK in 2025. This goal is anchored in two primary revenue streams, referred to as “Base” and “Stepping stones”. 

    The “Base” stream aims to achieve annual revenue growth of 10-15% by strengthening and expanding existing operations and customer relationships. In parallel, the “Stepping Stones” initiative aims to lift annual revenue growth to 30%, by increasing contract values and winning larger international contracts.

    cBrain continues to execute its growth strategy, building a robust pipeline of major opportunities. This is facilitated by a growing number of international pilot projects that set the stage for significant “Stepping Stones” achievements.

    In early 2024, cBrain anticipated some of these opportunities, particularly in Germany and the U.S., to yield significant revenue in the second half of the year. cBrain remains highly active in these pursuits and has added further opportunities during the year.

    However, not unusually with larger government procurement, delays in decision making mean that cBrain estimates less than a 50% likelihood of substantial revenue from larger international projects materializing in Q4. Consequently, cBrain adjusts its 2024 revenue growth forecast to 10-15%, down from the initial estimate of 20-25%.

    In alignment with business planning, cBrain has earmarked financial investments to support “Stepping Stones” projects in Germany and the U.S. Since these projects have not yet materialized, these reserved funds have not been deployed. This provides a positive impact on earnings. cBrain, therefore, maintains its EBT (Earnings Before Tax) guidance at 24-30%.

    —

    Larger international projects are often structured so that F2 standard software licenses form the majority of the contract value. Due to financial standards for software revenue recognition, larger international orders may, as a result, introduce greater variability in revenue patterns over time.

    As cBrain is currently pursuing global opportunities across the USA, Europe, Africa, the UAE, and India, some of these opportunities may still materialize during the fourth quarter, with a positive affect on this year’s revenue.
    ​

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to

    Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973

    Attachment

    The MIL Network –

  • MIL-OSI: Ormat Commences Commercial Operation of Bottleneck Storage Facility in California, Delivering 80MW/320MWh of Energy Storage Capacity

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Oct. 28, 2024 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE: ORA), a leading renewable energy company, announces the successful commencement of commercial operations for its largest energy storage facility, the Bottleneck project. This 80MW/320MWh Battery Energy Storage System (BESS), located in the Central Valley of California, will provide energy, capacity, and ancillary services to San Diego Gas & Electric (SDG&E) under a 15-year Power Purchase Agreement (also known as a Tolling Agreement) signed in 2022.

    The Bottleneck project is expected to be eligible for a 40% Investment Tax Credit, which the Company plans to monetize by the end of the year. The project represents Ormat’s continued commitment to strategically growing its Energy Storage segment in the key California energy market.

    Doron Blachar, CEO of Ormat Technologies, stated, “We are happy to announce the commencement of operations at Ormat’s Bottleneck Battery Storage Facility. This milestone reflects our dedication to expanding our energy storage portfolio in strategic U.S. markets while improving our profitability. With the addition of Bottleneck, we now operate 270MW/638MWh of storage projects and we have six additional projects currently under construction with a total capacity of 355MW/920MWh, demonstrating our strong development capabilities and commitment to achieving our 950MW-1050MW/2.5GWh-2.9GWh 2028 portfolio capacity target.” 

    Blachar continued, “The addition of the Bottleneck project, supported by a 15-year PPA, brings long-term contracted revenues with improved margins to our Storage segment. We look forward to continuing to support the state of California with our premium renewable power generation and energy storage solutions as the state continues to advance towards its clean energy goals.”

    ABOUT ORMAT TECHNOLOGIES

    With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,500MW with a 1,230MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 270MW energy storage portfolio that is located in the U.S.

    ORMAT’S SAFE HARBOR STATEMENT

    Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, market and industry developments and the growth of our business and operations, are forward-looking statements. When used in this press release, the words “may”, “will”, “could”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, or “contemplate” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under “Risk Factors” as described in Ormat’s annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 23, 2024, and in Ormat’s subsequent quarterly reports on Form 10-Q that are filed from time to time with the SEC.

    These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    Ormat Technologies Contact:
    Smadar Lavi
    VP Head of IR and ESG Planning & Reporting
    775-356-9029 (ext. 65726)
    slavi@ormat.com    		 Investor Relations Agency Contact:
    Alec Steinberg or Joseph Caminiti
    Alpha IR Group
    312-445-2870
    ORA@alpha-ir.com

    The MIL Network –

  • MIL-OSI Canada: Parks Canada commemorates Construction of Prince Edward Island Railway as National Historic Event Historic Sites and Monuments Board of Canada plaque unveiled in Charlottetown at Founders’ Hall 

    Source: Government of Canada News (2)

    Parks Canada commemorates Construction of Prince Edward Island Railway as National Historic Event

    October 28, 2024            Charlottetown, Prince Edward Island            Parks Canada

    Today, Sean Casey, Member of Parliament for Charlottetown, on behalf of the Honourable Steven Guilbeault, Minister of Environment and Climate Change and Minister responsible for Parks Canada, and the Historic Sites and Monuments Board of Canada (HSMBC), unveiled a plaque highlighting the Construction of the Prince Edward Island Railway as a National Historic Event at Founders’ Hall in Charlottetown. Harry Holman, the HSMBC board member representing Prince Edward Island, was joined by Sean Casey and representatives of PEI’s tourism and heritage communities, to celebrate the designation and reflect upon this significant event that led to Prince Edward Island becoming a part of Canada. 

    The construction of the Prince Edward Island Railway between 1871 and 1875 created a transportation link across the Island that stimulated employment and generated economic and commercial opportunities. The construction project quickly exceeded its budget, however, and this led to Prince Edward Island joining Confederation on 1 July 1873, with Canada assuming the Island’s railway debt as part of the agreement. The Island had originally hosted the 1864 Charlottetown Conference which resulted in the British North American colonies of New Brunswick, Nova Scotia, and the Province of Canada (now Ontario and Quebec) joining to form the Dominion of Canada on 1 July 1867, but Prince Edward Island had not joined Confederation in the original union.

    The Government of Canada, through Parks Canada and the Historic Sites and Monuments Board of Canada, recognizes significant persons, places, and events that shaped our country as one way of helping Canadians connect with their past. The designation process under Parks Canada’s National Program of Historical Commemoration is largely driven by public nominations. To date, more than 2,260 designations have been made nationwide.

    National historic designations illustrate the defining moments in the story of Canada. Together, they tell the stories of who we are and connect us to our past, enriching our understanding of ourselves, each other, and our country. Heritage places provide a wide range of cultural, social, economic, and environmental benefits to their communities.  

                                                                                                                                             -30-

    Hermine Landry
    Press Secretary
    Office of the Minister of Environment and Climate Change
    873-455-3714
    hermine.landry@ec.gc.ca

    MIL OSI Canada News –

  • MIL-OSI Canada: Opportunity for media to see future Canadian lunar rover

    Source: Government of Canada News

    Media advisory

    Longueuil, Quebec, — On , media are invited to attend a demonstration of the future Canadian lunar rover. The event will take place from to on the analogue terrain outside the Canadian Space Agency’s (CSA‘s) John H. Chapman Space Centre.

    The rover will undergo operational tests on an obstacle course, on a surface and in light conditions that replicate the Moon’s south pole. Media are welcome to take photos and videos during the demonstration. Representatives from the CSA and Canadensys will be available to answer questions.

    Media are expected to arrive by . Spots are limited: interested parties are required to register with the Media Relations Office. The event will proceed if weather conditions are favourable; registered media will receive confirmation on the day itself.

    – 30 –

    Contact information

    Canadian Space Agency
    Media Relations Office
    Telephone: 450-926-4370
    Email: asc.medias-media.csa@asc-csa.gc.ca
    Website: www.asc-csa.gc.ca
    Follow us on social media

    MIL OSI Canada News –

  • MIL-OSI NGOs: Ecuador: One year into his term, president Noboa must avoid abuses and opacity in security policies

    Source: Amnesty International –

    On the eve of President Daniel Noboa’s first year in office, the evidence suggests that human rights have suffered under the current administration, Amnesty International said today in a briefing detailing its concerns, ahead of the UN Human Rights Committee’s review of Ecuador, which begins today in Geneva.

    In the face of rising violence, the President has opted for a hardline approach to security policies, labelling drug-trafficking organizations as “terrorists”, declaring an “internal armed conflict”, and continuously renewing states of emergency, as part of the so-called “Plan Fenix.” Amnesty International is concerned about allegations of human rights violations committed in this context, including thousands of arrests with little evidence of due process, torture and other ill-treatment inside prisons, and extrajudicial executions and enforced disappearances, allegedly committed by the armed forces during security operations. These operations have been conducted with opacity, and human rights defenders denouncing violations have faced stigmatization by high-level authorities, including the president.

    “Exceptional powers restricting human rights that were intended as temporary have become the new norm in Ecuador, and the negative impact has become clear. People in Ecuador deserve to live in safety without having to give up their human rights,” said Ana Piquer, Americas director at Amnesty International. “The international community has a key role in demanding transparency and accountability of Ecuadorian authorities, and the time to do so is now. The United States, which provides significant funding to Ecuador, must ensure that security assistance is not used to undermine human rights.”

    Exceptional powers restricting human rights that were intended as temporary have become the new norm in Ecuador, and the negative impact has become clear. People in Ecuador deserve to live in safety without having to give up their human rights. The international community has a key role in demanding transparency and accountability of Ecuadorian authorities, and the time to do so is now.

    Ana Piquer, Americas director at Amnesty International.

    MIL OSI NGO –

  • MIL-OSI Global: Why donors should ask local communities what matters to them while deciding what success looks like

    Source: The Conversation – USA – By Erin K. McFee, Professor of Practice of Climate Security, National Defense University

    Members of the Leonor Cuadras cooperative sort nursery-grown oysters in La Reforma, Mexico, in December 2023. Jonathan Röders, CC BY-ND

    Have you ever asked a teacher whether something will be on an upcoming test to decide whether to closely pay attention to a particular lesson? Taken the long way back from a lunch break to get enough exercise to meet a goal monitored by a fitness app? Logged on to a virtual meeting to be seen showing up, even as you worked on other tasks?

    It’s human nature to adapt your behavior to meet evaluation criteria – even when meeting those targets comes at the expense of attaining more meaningful goals. Most donors, whether they are governments providing foreign aid, foundations making grants or individual people who give nonprofits money, expect or demand reports on what was accomplished with their funding. And what is measured for that purpose and how it’s measured tend to shape entire programs – often missing the mark on what truly matters to the communities involved.

    While spending years conducting fieldwork everywhere from Colombia to the Kenya-Uganda border as a political anthropologist and a political scientist, we’ve witnessed firsthand the absurdities of the bureaucratic hoops people must jump through to access vital aid. We’ve watched both genuine efforts to abide by the guidelines donors set and the cynical exploitation of them. We have also spent years engaged in international development efforts, both with and through nonprofits that sought to resolve some of the world’s most intractable problems.

    There’s a glaring and crucial question we’ve rarely heard asked when projects are being designed: What does success look like to the people meant to benefit from development funding?

    Promoting environmental sustainability

    We conducted an exploratory field study in La Reforma, a small coastal town located in the Mexican state of Sinaloa.

    We focused on the Leonor Cuadras Oyster Aquaculture Cooperative, a locally led initiative supported by the seafood company Marine Edén and SUCEDE, a Mexican nongovernmental organization that’s dedicated to promoting individual, social and environmental well-being in La Reforma and other nearby communities.

    This particular project sought to create jobs for women in La Reforma, while promoting environmental sustainability through oyster farming. The cooperative’s objectives included empowering women, fostering collective work and contributing to local environmental restoration by improving water quality through oyster filtration. Traditional metrics for projects like this would tally labor hours, harvest size and jobs created – all important but incomplete insights into the whole story.

    Our study was unusual because it was designed as an exploratory effort to help shape future metrics in a participatory manner. We sought to understand the cooperative’s internal dynamics and challenges so we could create metrics that reflected what the cooperative members wanted and needed.

    After several weeks of fieldwork, multiple focus group discussions and eight interviews with people involved in the cooperative in the last quarter of 2023, we found that success is not solely defined by the number of oysters they produce or the dollar signs next to their names in a report submitted to donors.

    In their view, success is framed around dignity, gender equity and the well-being of their families and the environment. We also learned that their work together had increased a sense of collective commitment to the project and each other.

    Measuring success in terms that make sense to locals

    Most donors love numbers. They want to know how many people attended an event, how much money was spent, how many widgets were produced. But while such outcomes are easily measurable, they are not always meaningful.

    In La Reforma, the women who belong to the Leonor Cuadras cooperative told us that they define success differently. Their primary goal isn’t just to grow oysters. They see their co-op as a tool for social transformation, not just a source of income.

    One woman we’ll call Aurelia to protect her anonymity proudly shared that working with the cooperative has proved that “we can do things on par with men.”

    Julia, another cooperative member, put it this way: “We are not just working for ourselves – we are working for the future of our families and our community.”

    This version of success includes improving their family’s prospects and safeguarding their marine environment for future generations. As the oysters they grow naturally filter and clean the bay’s waters, so too does their collaborative work improve the social fabric of this violence-affected community in ways that won’t show up on a balance sheet.

    Finding participatory approaches

    When donors impose their own frameworks and set their own goals for the projects they fund, they usually miss what truly defines success for local communities. In La Reforma, the women are acquiring technical skills related to oyster farming, but they seem to see more value in the empowerment that comes with leading a project that reflects their realities and needs.

    If the cooperative’s donors had chosen to focus on traditional production metrics, such as the number of participants, the scale of the harvest and the hours of labor involved, they would have surely overlooked the deeper social shifts, such as women’s leadership in a male-dominated profession or a greater commitment to collective well-being.

    What if, instead of dictating outcomes from the start, donors worked collaboratively with communities to define success? The cooperative’s members want independence. They hope that someday they will run their own oyster farms or support other aquaculture initiatives. These are aspirations that don’t fit into traditional donor checkboxes. But that kind of approach is critical for the project’s sustainability.

    Some donors and development agencies are beginning to integrate this approach. For example, the International Organization for Migration consults with community members when writing performance reviews. Some donors have embraced an approach called trust-based philanthropy, which largely removes reporting burdens altogether. They focus instead on collaborative relationships with their grantees.

    What is measured matters. It can shape the goals and the limits of projects long before a single dollar is spent.

    Setting goals that are more relevant to local conditions requires a radical shift in how development projects are designed and evaluated. Rather than imposing predetermined outcomes, we believe that it is crucial to ask of the communities and individuals on the ground: What does success look like to you?

    Erin McFee is the founder and president of the Corioli Institute, which conducted this study. The research for this article was funded by the UK Research and Innovation Future Leader Fellows Program. The views expressed in this article are those of the author and do not reflect official policies or positions of the National Defense University, the Department of Defense or the U. S. government.

    Jonathan Röders is Director of Projects & Programs at the Corioli Institute, which conducted this study. His contribution to this research was funded by UK Research and Innovation.

    – ref. Why donors should ask local communities what matters to them while deciding what success looks like – https://theconversation.com/why-donors-should-ask-local-communities-what-matters-to-them-while-deciding-what-success-looks-like-241196

    MIL OSI – Global Reports –

  • MIL-OSI Global: US math teachers view student performance differently based on race and gender

    Source: The Conversation – USA – By Yasemin Copur-Gencturk, Associate Professor of Education, University of Southern California

    Teachers hold different views on why girls are good at math than they do for boys. Maskot via Getty Images

    Teachers report thinking that if girls do better in math than boys, it is probably because of their innate ability and effort. But they also report that when boys do well in math, it is more likely due to parental support and society’s higher expectations for their success.

    That’s what we discovered from 400 elementary and middle school math teachers we surveyed across the country for our new study. The purpose of the study was to learn more about how teachers explain students’ success and failure in math.

    We found that the variation in views among educators is not limited to the gender of students. Teachers also hold contrasting views about math performance when it comes to students’ race and ethnicity, our study found.

    More specifically, we found that when Black and Hispanic students outperform Asian and white students, teachers are more likely to think it’s because of effort and differences in their cognitive abilities. In contrast, when Asian and white students outperform others, teachers attribute it to the support and expectations of others, such as from parents and society as well as cultural differences that value math learning.

    To reach these conclusions, we conducted an experiment. In the experiment, teachers were first asked to help us by reviewing student responses to items on a math test we were developing. After they rated the student responses, we randomly assigned teachers to conditions telling them that one group – either boys or girls, Black and Hispanic or Asian and white – performed better on this test. Then, we asked the teachers to rate their agreement with a set of potential explanations for the disparity. These potential explanations included statements such as, “Boys often pay more attention and follow directions in class compared with girls.”

    After teachers had rated their agreement with these explanations, we asked them about their personal beliefs and experiences with gender and racial discrimination in math classrooms. We analyzed how these beliefs related to their explanations of performance differences.

    We found that teachers were more likely to attribute the success of girls and Black and Hispanic students to internal factors, such as ability and effort, whereas they were more likely to attribute boys’ and Asian and white students’ success to external factors, such as parental involvement and cultural differences.

    We also observed that teachers who reported personally experiencing racial discrimination in math classrooms when they were students were more likely to agree that ability was responsible for Black and Hispanic students’ higher performance.

    Why it matters

    How teachers explain student performance can affect their expectations of students. It can also affect how they teach and how they emotionally respond to student needs.

    For example, research has shown that when teachers attribute students’ failure to a lack of effort, they tend to maintain higher expectations of students and encourage them to expend more effort next time. When they attribute student failure to a lack of ability, however, evidence shows that teachers are more likely to lower their expectations and express more pity. Lowered expectations and feelings of pity can be internalized by students. This can in turn lead them to assume that they have low ability and expect to fail more often in the future.

    Findings from our study show that teachers tend to explain students’ failures and successes differently based on which social group performed better than another. Sometimes, these attributions were consistent with stereotypes, such as attributing the higher performance of white and Asian students to their parents and culture.

    What still isn’t known

    Our research, along with that of others, shows that implicit biases exist in math classrooms. These biases influence how teachers view students’ abilities and explain their performance. However, most existing anti-bias training interventions are not very effective.

    Researchers need to develop new types of training to combat these biases in math classrooms, which could help improve teaching and reduce cognitive and emotional burdens that students experience.

    Yasemin Copur-Gencturk receives funding from the NSF, IES, and Herman & Raseij Math Initiative.

    Ian Thacker receives funding from the Spencer Foundation and the U.S. Department of Agriculture, National Institute of Food and Agriculture.

    Joseph Cimpian receives funding from the Institute of Education Sciences, the National Science Foundation, and the Spencer Foundation.

    – ref. US math teachers view student performance differently based on race and gender – https://theconversation.com/us-math-teachers-view-student-performance-differently-based-on-race-and-gender-241418

    MIL OSI – Global Reports –

  • MIL-OSI Global: Why do we use gasoline for small vehicles and diesel fuel for big vehicles?

    Source: The Conversation – USA – By Michael Leamy, Woodruff Endowed Professor of Mechanical Engineering, Georgia Institute of Technology

    Green pump for diesel, blue for gas – but what’s the difference? Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images

    Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to curiouskidsus@theconversation.com.

    Why do we use gasoline for small vehicles and diesel fuel for big vehicles? – Methdini, age 15, Sri Lanka

    Gasoline fuels most light-duty vehicles, such as passenger cars and pickup trucks. Heavy-duty vehicles, like buses, delivery trucks and long-haul tractor-trailers, typically run on diesel.

    Both fuel types are needed because gasoline and diesel engines have different strengths. As my automotive engineering students learn, this makes them suitable for different uses.

    Let’s start with what they have in common. Gas and diesel engines both work through a process called internal combustion.

    • First, they mix fuel with air because the fuel needs oxygen from the air to burn.

    • Next, they compress the fuel-air mixture, which makes the mixture hot enough to burn.

    • Then the engine burns the mix of fuel and air, releasing heat. This creates high pressure, which moves internal parts that make the car move.

    • Finally, the car releases spent combustion gases to the atmosphere through its tailpipe. These gases contain pollutants, such as carbon monoxide, nitrogen oxides and unburned fuel, that are harmful to human health, as well as carbon dioxide, which warms Earth’s atmosphere.

    How a gas-powered internal combustion engine converts chemical energy in gasoline into kinetic energy that makes the car move.

    Different engines for different jobs

    Gasoline and diesel fuel are both made from crude oil, a fossil-based energy source. But they have different chemical properties that require different types of engines.

    In a gas engine, a small device called a spark plug ignites the compressed fuel-air mixture. It uses hundreds of thousands of volts to create an electrical arc that can start the burn, much like striking a flint rock against another stone.

    Diesel fuel is harder to ignite and slower to burn than gasoline. But if it is compressed enough, it will ignite without a spark. And this higher compression results in higher efficiency, so vehicles powered with diesel get more miles per gallon. That’s important for transporting goods and people as economically as possible – one reason why most buses, trains and large trucks run on diesel.

    Diesel engines tend to be more expensive than gas engines, since they need sturdier parts to withstand the higher temperatures and pressures they produce. But they also last longer than gasoline engines. This is a plus for vehicles such as long-haul trucks that need to go many hundreds of thousands of miles between engine overhauls.

    So why do passenger cars use gas? One reason is that diesel engines’ higher compression and temperature make them noisier, especially at higher frequencies that humans find annoying. Diesel engines also produce higher levels of fine particle pollution, known as PM 2.5, that has been linked to many human health risks.

    These trade-offs typically lead consumers to prefer cheaper, quieter gasoline engines in cars they drive for work and pleasure. Efficient, long-lasting diesel engines are more attractive to companies hauling goods and transporting large numbers of people.

    Beyond internal combustion engines

    In the future, transportation may not use gas or diesel at all. Some cars and light trucks – models known as hybrids – already use gas or diesel together with batteries and electric motors, or run entirely on electricity. And cities across the U.S. are investing in electric school buses, which are lower-polluting and cheaper to maintain than diesel buses.

    Hybrid, plug-in hybrid and battery electric vehicles promise to result in far fewer emissions of toxic gases and carbon dioxide – especially if they are recharged with electricity produced from renewable sources like wind and solar power. These vehicles will be quieter than gasoline and diesel models and also cheaper to maintain, since they have fewer moving parts. Gasoline and diesel vehicles will remain in use for years to come, but they no longer represent the forefront of transportation innovation.

    Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.

    And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.

    Michael Leamy receives funding from the National Science Foundation, the Department of Energy, General Motors, and other government agencies and corporations.

    – ref. Why do we use gasoline for small vehicles and diesel fuel for big vehicles? – https://theconversation.com/why-do-we-use-gasoline-for-small-vehicles-and-diesel-fuel-for-big-vehicles-235084

    MIL OSI – Global Reports –

  • MIL-OSI Global: Trump’s anti-Haitian rhetoric reflects America’s long-standing racism against Haiti and its people

    Source: The Conversation – USA – By Thurka Sangaramoorthy, Professor of Anthropology, American University

    Pastor Dieufort Fleurissaint denounces the hateful rhetoric aimed at Haitian migrants in Springfield, Ohio, during a Sept. 24, 2024, rally in Boston. Jessica Rinaldi/The Boston Globe/Getty Images)

    Since 2021, about 15,000 Haitians have found new lives in Springfield, Ohio, after fleeing the violence of Haiti, their native country.

    But a wave of baseless rumors and hate, amplified by former President Donald Trump and his running mate, U.S. Sen. JD Vance, has shattered that sense of safety. Many of the city’s Haitian immigrants are left questioning whether their vision of an American dream is still possible.

    Frightened and worried, many Haitians say they are fearful of going outside and staying in Springfield.

    The morning after the presidential debate, a Haitian woman who had moved to Springfield six years ago told a newspaper reporter that “they’re attacking us in every way.”

    In addition to the anxiety, the woman, who asked not to be identified, said that her car windows had been broken in the middle of the night. “I’m going to have to move because this area is no longer good for me,” the woman said. “I can’t even leave my house to go to Walmart. I’m anxious and scared.”

    Trump’s inflammatory statements, which have included wrongful allegations of Haitians eating pets, are part of a broader historical pattern of racism and anti-Black xenophobia in the U.S. aimed at Haitians. Days after the debate, Trump further explained how he would start his mass deportation program in Springfield. “Illegal Haitian migrants have descended upon a town of 58,000 people, destroying their way of life,” Trump said.

    The comments have not only stoked existing racial tensions but have also sparked racist discourse and violent threats against Haitians across the country.

    As a scholar of migration who has studied Haitian immigrants in the U.S. for over 25 years, I have seen how Haitians, as Black immigrants, are doubly marginalized, by not only the structural racism embedded in U.S. immigration policies but also the broader societal racism experienced by Black Americans.

    In my view, Trump’s baseless allegations reflect America’s deeply rooted history of systemic racism against Haiti and its people.

    A flawed history

    The roots of anti-Haitian racism in the U.S. can be traced to the Haitian Revolution in 1804 in which Black Haitians who were enslaved rose up and overthrew the French colonial government.

    Haiti became the first independent Black republic in the world, and the country’s independence terrified many in the U.S., especially white slaveholders. They feared the revolution might inspire slave revolts at home.

    Illustration depicting the Haitian Revolution led by Toussaint Louverture.
    Bettmann/Getty Images

    For much of the 19th century, the U.S. refused to recognize Haiti as a legitimate nation. It wasn’t until 1862, during the Civil War, that the U.S. finally established diplomatic relations with the country.

    But the U.S. continued to exploit Haiti for its own economic and military interests, occupying the country with the military from 1915 to 1934. During this period, the U.S. controlled Haiti’s government and finances, installed a pro-American president and helped establish a brutal military force.

    The occupation worsened racial and economic inequality in Haiti and further destabilized the nation.

    This history of exploitation and interference has had long-lasting effects on Haiti’s ability to develop economically and politically, a situation exacerbated by continued U.S. intervention throughout the Cold War era.

    During the nearly 30-year dictatorships of François “Papa Doc” and Jean-Claude “Baby Doc” Duvalier between 1957 and 1986, for example, the U.S. government provided approximately US$900 million in financial support to these repressive regimes, despite their notorious human-rights abuses.

    Anti-Black immigration policies

    All the history of U.S. involvement in Haiti set the stage for the mass migration of Haitians to the U.S. since the early 1960s.

    Over the years, about 200,000 Haitians have sought to escape violence and poverty to the U.S.

    Those with resources, such as the Haitian elite and middle class, migrated legally, settling in New York and Miami. Many of them organized ways to send aid to Haiti and brought attention to human-rights abuses being committed by the Duvalier regimes.

    Poor Haitians soon followed, arriving by crude boats.

    In September 1963, the first boatload of Haitian refugees landed in Miami. But instead of finding freedom, all 23 Haitians were denied asylum and sent back to Haiti by the U.S. immigration authorities.

    Since then, Haitians arriving by boat have faced arrest, detention, asylum denials and deportation as successive U.S. governments refused to recognize the political repression in Haiti. Instead, Haitians were labeled economic migrants who sought a better standard of living and, as such, were not eligible for asylum.

    From 1981 to 1991, for instance, 433 boats carrying approximately 25,580 Haitians were intercepted by U.S. immigration authorities. Only 28 people were allowed to pursue refugee claims.

    The Haitian experience in the US

    Often portrayed by white policymakers as disease carriers and criminals, Haitian immigrants have long suffered discrimination and dehumanization in the U.S.

    In the 1980s, during the HIV crisis, U.S. health officials wrongly labeled Haitians as high-risk carriers of the virus, reinforcing harmful racial and ethnic stereotypes.

    Despite a lack of scientific evidence, Haitians were stigmatized as a group, leading to economic and social exclusion within the U.S. Many Haitians lost jobs, housing and faced threats of violence simply because of their nationality and ethnicity.

    My research has shown this portrayal of Haitians as dangerous and undesirable persists today, as reflected in Trump’s and Vance’s recent claims. The narrative of immigrants eating pets and spreading diseases is a recycled trope in American history, used by white conservative politicians to stoke fears about foreigners to reinforce white supremacy.

    Historically, these kinds of claims have been used to justify exclusionary immigration policies and racial violence against nonwhite populations.

    A group of Haitian Americans in Springfield, Ohio, listen to area residents denounce the town’s growing Haitian population during a public meeting on Sept. 24, 2024.
    Dominic Gwinn/Middle East Images /Getty Images

    The accusations against Haitians in Springfield have not only triggered immediate threats of violence but have also reinforced deep-seated, anti-Black xenophobia that continues to plague U.S. society.

    In recent years, hate speech and attacks against Black immigrants, including Haitians, have been on the rise. Black immigrants, regardless of their legal status, face higher rates of deportation and are more likely to be targeted than white immigrants by law enforcement.

    Addressing anti-Haitian racism

    The allegations made by Trump and Vance represent a dangerous escalation of rhetoric that has real-life consequences for Haitians in the U.S.

    The demonization of Haitians in Springfield is not just a political ploy – it is part of a broader strategy to uphold systems of exclusion that have historically been used to marginalize Black people, both immigrants and citizens.

    Thurka Sangaramoorthy receives funding from the National Institutes of Health.

    – ref. Trump’s anti-Haitian rhetoric reflects America’s long-standing racism against Haiti and its people – https://theconversation.com/trumps-anti-haitian-rhetoric-reflects-americas-long-standing-racism-against-haiti-and-its-people-240975

    MIL OSI – Global Reports –

  • MIL-OSI Global: LGBTQ+ voters in these 4 states could swing the 2024 presidential election

    Source: The Conversation – USA – By Dorian Rhea Debussy, Lecturer of Women’s, Gender, and Sexuality Studies, The Ohio State University

    LGBTQ+ voters lean heavily Democratic, and they tend to turn out in high numbers. Dani VG via Getty Images

    Victory in the 2024 U.S. presidential election may come down to LGBTQ+ voters.

    Polling data shows that Donald Trump and Kamala Harris are running in a near-dead heat in four states – Georgia, Michigan, North Carolina and Pennsylvania. And as a scholar of LGBTQ+ politics, I suspect that LGBTQ+ voters could play an outsize role in these states and the race.

    So, how might LGBTQ+ voters swing these states?

    LGBTQ+ voting behavior, explained

    In the most comprehensive political survey of LGBTQ+ Americans ever conducted, the Pew Research Center found in 2013 that the vast majority of respondents – 85% – “always” or “nearly always” voted, compared with roughly a third of the general population. Turnout in the most recent presidential election validated that finding. A 2020 post-election survey by the advocacy group GLAAD found that 81% of LGBTQ+ voters cast a ballot.

    For context, 64% of all eligible voters cast a ballot in the 2020 presidential election, which was unusually high voter participation. Historically, turnout hovers around 55% for presidential elections and 35% for midterm elections.

    An LGBTQ+ delegate at the 2024 Democratic National Convention.
    Alex Wroblewski/AFP via Getty Images

    The National Center for Transgender Equality, an advocacy organization, finds that voter turnout is particularly high among transgender people.

    Even in the historically low-turnout 2014 midterm election, the group’s data indicated that roughly half of transgender respondents had voted, compared with only one-third of the general population. In the 2022 midterm election, transgender voter turnout increased to nearly 75%, according to the 2024 U.S. Trans Survey.

    LGBTQ+ voters and partisanship

    LGBTQ+ voters strongly lean Democratic. Pew’s 2013 survey found that nearly 60% of all LGBTQ+ respondents were Democrats, and less than 10% were Republicans. Transgender voters are even more partisan, and nearly 80% identified as Democratic or Democratic-leaning in the 2015 U.S. Trans Survey.

    Exit poll data from the 2016 presidential election supports this conclusion. Nearly 80% of LGBTQ+ voters told researchers outside polling stations that they’d cast their ballot for Hillary Clinton. Just 14% reported that they’d backed Trump.

    Initial exit poll data from the 2020 presidential election indicated that Trump had doubled his share of LGBTQ+ voters to 28%. Later analyses contradicted that finding, however, showing that LGBTQ+ voters were actually essential to Joe Biden’s victory.

    The surprising miscalculation was likely due to COVID-19-related polling errors. Exit poll data from the 2022 midterm election put LGBTQ+ support for Republican congressional candidates back at 14%.

    LGBTQ+ voters in ‘tipping-point’ states

    Taken together, past polling data indicates that the LGBTQ+ community will likely back Harris over Trump by strong margins in four of the most likely “tipping-point” states – that is, the swing states with enough electoral votes to tip the entire election for one candidate.

    Georgia, Michigan, North Carolina and Pennsylvania all have populations of LGBTQ+ adults that are significantly larger than the margin of victory by which the winning candidate took the state in 2020.

    For instance, Biden won Georgia and its 15 electoral votes by 11,779 votes in 2020, and there are over 400,000 LGBTQ+ adults in the state. Trump’s apparent current lead in Georgia is within the margin of error, and even a slight increase in Democratic-leaning LGBTQ+ voters, compared with 2020, could hand Harris the state.

    Georgia now has 16 electoral votes following a population increase.

    The gap between the two candidates in all four tipping-point states is similarly narrow – 2% or less. That’s well within state polls’ margin of error. Together, these states have a combined 66 electoral votes. That’s nearly double Biden’s Electoral College margin of victory in 2020 and Trump’s margin in 2016.

    If higher turnout among LGBTQ+ voters in these four likely tipping-point states could deliver the 2024 race for Harris, then lower LGBTQ+ turnout could pave Trump’s path to victory.

    Trump is well within striking distance in the Rust Belt states of Pennsylvania and Michigan, where polling puts him in a statistical dead heat with Harris. With those slim margins that are well within the margin of error, even a moderate decrease in turnout among the states’ many thousands of LGBTQ+ voters could cause serious problems for Harris.

    For context, Biden won Pennsylvania and Michigan by 80,555 and 154,188 votes, respectively, in 2020.

    Possible X factors

    Of course, the 2020 and 2024 presidential elections are not carbon copies of each other.

    The LGBTQ+ electorate grows each year, and by 2030 1 in 7 voters are expected to identify as LGBTQ+.

    Republicans have also ramped up legislative attacks on LGBTQ+ rights since 2020, and GOP campaign ads with anti-transgender messages dominate this election cycle. Both of these factors will play a role in 2024, as will a shake-up in the North Carolina governor’s race.

    In September, CNN reported that the Republican nominee for governor of North Carolina, Mark Robinson, had posted controversial comments on a pornographic website between 2008 and 2012. In addition to referring to himself as a “black Nazi,” Robinson said that he enjoyed watching transgender pornography.

    For a candidate whose anti-trans rhetoric includes saying transgender women should be arrested for using women’s restrooms, this was shocking news. Robinson has denied the allegation, which has severely damaged his campaign. Two weeks ahead of the election, polling gave Robinson’s Democratic opponent, Josh Stein, a clear lead over Robinson.

    Robinson’s troubled past and embattled campaign could mobilize multiple pockets of progressive North Carolinians, including LGBTQ+ voters, against him. Boosted turnout would almost certainly eat into Trump’s vote share in North Carolina – a state he won by 1.3% in 2020.

    What to expect on election night

    Historical trends, demographic data and current affairs all point toward LGBTQ+ voters playing an important – and potentially decisive – role in tipping swing states to Harris.

    Yet, there are also signs that Harris may underperform with LGBTQ+ voters.

    A September 2024 survey by the Human Rights Campaign, a LGBTQ+ advocacy organization, reported that about 20% of LGBTQ+ respondents were undecided, planning to stay home or backing a third party. Less than 8% of LGBTQ+ respondents were leaning toward Trump, but disaffected LGBTQ+ Democrats could cause problems for Harris.

    Ultimately, there’s no way to know what LGBTQ+ voters will actually do at the ballot box. This race is in flux, and plenty can happen before election day. Other voting blocs have grown or changed since 2024, too.

    The answers will come on election night or – in a race with such narrow margins of victory – in the days and weeks of counting and recounting to follow.

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

    – ref. LGBTQ+ voters in these 4 states could swing the 2024 presidential election – https://theconversation.com/lgbtq-voters-in-these-4-states-could-swing-the-2024-presidential-election-239656

    MIL OSI – Global Reports –

  • MIL-OSI Global: Vampire bats – look beyond the fangs and blood to see animal friendships and unique adaptations

    Source: The Conversation – USA – By Sebastian Stockmaier, Assistant Professor of Ecology and Evolutionary Biology, University of Tennessee

    Vampire bats have complex social relationships. Samuel Betkowski/Moment via Getty Images

    You can probably picture a vampire: Pale, sharply fanged undead sucker of blood, deterred only by sunlight, religious paraphernalia and garlic. They’re gnarly creatures, often favorite subjects for movies or books. Luckily, they’re only imaginary … or are they?

    There are real vampires in the world of bats. Out of over 1,400 currently described bat species, three are known to feed on blood exclusively.

    The common vampire bat, Desmodus rotundus, is the most abundant. At home in the tropical forests of Central and South America, these bats feed on various animals, including tapirs, mountain lions, penguins and, most often nowadays, livestock.

    A vampire bat enjoys a blood meal at the expense of a domestic goat.
    Nicolas Reusens/Moment via Getty Images

    Feeding on a blood diet is unusual for a mammal and has led to many unique adaptations that facilitate their uncommon lifestyle. Unlike other bats, vampires are mobile on the ground, toggling between two distinct gaits to circle their sleeping prey. Heat-sensing receptors on their noses help them find warm blood under their prey’s skin. Finally, the combination of a small incision, made by potentially self-sharpening fangs, and an anticoagulant in their saliva allows these bats to feed on unsuspecting prey.

    To me, as a behavioral ecologist, who is interested in how pathogens affect social behaviors and vice versa, the most fascinating adaptations to a blood-feeding lifestyle are observable in vampire bats’ social lives.

    Vampire bats build reciprocal relationships

    Blood is not very nutritious, and vampire bats that fail to feed will starve relatively quickly. If a bat returns to the roost hungry, others may regurgitate a blood meal to get them through the night.

    Vampire bats will share their blood meal with a hungry friend.
    Gerry Carter

    Such food sharing happens between bats who are related – such as mothers and their offspring – but also unrelated individuals. This observation has puzzled evolutionary biologists for quite a while. Why help someone who is not closely related to you?

    It turns out that vampire bats keep track of who feeds them and reciprocate – or not, if the other bat has not been helpful in the past. In doing so, they form complex social relationships maintained by low-cost social investments, such as cleaning and maintaining the fur of another animal, called allogrooming, and higher-cost social investments, such as sharing food.

    These relationships are on par with what you would see in primates, and some people compare them to human friendships. Indeed, there are some parallels.

    For instance, humans will raise the stakes when forming new relationships with others. You start with social investments that don’t cost much – think sharing some of your lunch – and wait for the other person’s response. If they don’t reciprocate, the relationship may be doomed. But if the other person does reciprocate by sharing a bit of their dessert, for instance, your next investment might be larger. You gradually increase the stakes in a game of back-and-forth until the friendship eventually warrants larger social investments like going out of your way to give them a ride to work when their car breaks down.

    Vampire bats do the same. When strangers are introduced, they will start with small fur-cleaning interactions to test the waters. If both partners keep reciprocating and raising the stakes, the relationship will eventually escalate to food sharing, which is a bigger commitment.

    Relationships, in sickness and in health

    My lab studies how infections affect social behaviors and relationships. Given their vast array of social behaviors and the complexity of their social relationships, vampire bats are the ideal study system for me and my colleagues.

    How does being ill affect how vampire bats behave? How do other bats behave toward one that is sick? How does sickness affect the formation and maintenance of their social relationships?

    We simulate infections in bats in our lab by using molecules derived from pathogens to stimulate an immune response. We’ve repeatedly found a form of passive social distancing where sick individuals reduce their interaction with others, whether it’s allogrooming, social calling or just spending time near others.

    Researchers attach proximity sensors to bats. The sensors communicate with each other and exchange information about meeting time, duration and signal strength, which is a proxy for distance between two bats.
    Sherri and Brock Fenton

    Importantly, these behavioral changes haven’t necessarily evolved to minimize spreading disease to others. Rather, they are parts of the complex immune response that biologists call sickness behaviors. It’s comparable to someone infected with the flu staying at home simply because they don’t feel up to venturing out. Even if such passive social distancing may have not evolved to prevent transmission to others, simply being too sick to interact with others will still reduce the spread of germs.

    Interestingly, sickness behaviors can be suppressed. People do this all the time. So-called presenteeism is showing up at work despite illness due to various pressures. Similarly, many people have suppressed symptoms of an infection to engage in some sort of social obligation. If you have little kids, you know that when everyone in your household is coming down with something, there’s no way you can just sit back and not take care of the little ones, even if you feel quite bad yourself.

    Animals are no different. They can suppress sickness behaviors when competing needs arise, such as caring for young or defending territory. Despite their tendency to reduce social interactions with others when sick, in vampire bats, sick mothers will continue to groom their offspring and vice versa, probably because mother-daughter relationships are extra important. Mothers and daughters are often each other’s primary social relationships within groups of vampire bats.

    Despite vampire bats’ elaborate social relationships, farmers often consider them pests.
    Sherri and Brock Fenton

    Human-bat conflict centers on livestock

    Despite their many fascinating adaptations and complex social lives, vampire bats are not universally admired. In fact, in many areas in South and Central America, they are considered pests because they can transmit the deadly rabies virus to livestock, which can cause quite significant economic losses.

    Before people introduced livestock into their habitat, vampire bats probably had a harder time finding food in the form of native prey species such as tapirs. Now, livestock has become their primary food source. After all, why not feed on something that is reliably at the same place every night and quite abundant? Increases in livestock abundance come with increases in vampire bat populations, probably perpetuating the problem of rabies transmission.

    The farmers’ quarrels with vampires make sense, especially in smaller cattle herds, where losing even one cow can significantly hurt a farmer’s livelihood. Culling campaigns have used topically applied poisons called vampiricide, basically a mix of petroleum jelly and rat poison. Bats are caught, the paste is applied to the fur, and they carry it back to the roost, where others ingest the poison during social interactions. Interestingly, large-scale culling may not be very effective in reducing rabies spillover.

    Vampire bat colonies live in places like hollow trees.
    May Dixon

    Now, the focus has started to shift toward large-scale cattle vaccinations or vaccinating the vampire bats themselves. Researchers are even considering transmissible vaccines: They could genetically modify herpes viruses, which are quite common in vampire bats, to carry rabies genes and vaccinate large swaths of vampire bat populations.

    Whichever method is used to mitigate vampire bat-human conflicts, more empathy for these misunderstood animals could only help. After all, if you stick your head into a hollow tree full of vampire bats – assuming you can brave the smell of digested blood – remember: You’re looking at a complex network of individual friendships between animals that care deeply for each other.

    Some of the cited work in the article is from long-term collaborators (such as Dr. Gerald Carter at Princeton University) with whom I frequently interact and work together.

    – ref. Vampire bats – look beyond the fangs and blood to see animal friendships and unique adaptations – https://theconversation.com/vampire-bats-look-beyond-the-fangs-and-blood-to-see-animal-friendships-and-unique-adaptations-239980

    MIL OSI – Global Reports –

  • MIL-OSI Video: Army BTS: SGT STOUT

    Source: US Army (video statements)

    Did you know: The Sgt Stout is a mobile air-defense platform based on the Stryker A1, and was named for Sgt. Mitchell W. Stout, who served with C Battery, 1st Battalion, 44th Air Defense Artillery in Vietnam when his searchlight crew position came under heavy enemy mortar fire and ground attack.

    As the mortar attack subsided, a hand grenade landed in their bunker. Displaying great courage, Stout grabbed the grenade and ran to the door, but it exploded before he made it out. By holding the grenade close to his body and shielding its blast, he protected his fellow Soldiers in the bunker from further injury or death.

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #SgtStout

    https://www.youtube.com/watch?v=qa4tZXTC13w

    MIL OSI Video –

  • MIL-OSI Security: Defense News: Winnsboro native serving at U.S. Navy Medicine Readiness and Training Command Guantanamo Bay on the path to becoming an officer

    Source: United States Navy

    Peay graduated from Fairfield Central High School in 2006.

    The skills and values needed to succeed in the Navy are similar to those found in Winnsboro.

    “Growing up in Winnsboro, I learned the value of hard work and determination,” said Peay. “It’s a small town where everyone knows each other, and the sense of community taught me the importance of perseverance and supporting one another. That work ethic, ingrained in me from my early days, has been my guiding light throughout my Navy career. It’s the backbone of every challenge I’ve faced and every goal I’ve achieved. The lessons from Winnsboro have stayed with me, reminding me to always give my best, no matter the circumstances. It’s that unwavering commitment to hard work and community spirit that has shaped who I am today.”

    Peay joined the Navy 18 years ago. Today, Peay serves as a hospital corpsman.

    “I joined the Navy because I wanted to carve my own path and take control of my future.” said Peay “I dreamed of going to college, but I also wanted to earn that opportunity myself, to stand tall knowing I worked hard for it. The Navy offered me that chance—to learn, grow, and serve my country, all while building a foundation for my dreams. It was a decision fueled by a desire for independence and a commitment to my own potential. Every challenge I’ve faced and every lesson I’ve learned has been a step toward becoming the person I always hoped to be.”

    Naval Hospital Guantanamo Bay provides health care to the U.S. Naval Station Guantanamo Bay community, which consists of approximately 4,500 military members, federal employees, U.S. and foreign national contractors and their families. The hospital also operates the only overseas military home health care facility providing care to elderly special category residents who sought asylum on the installation during the Cuban Revolution.

    With 90% of global commerce traveling by sea and access to the internet relying on the security of undersea fiber optic cables, Navy officials continue to emphasize that the prosperity of the United States is directly linked to recruiting and retaining talented people from across the rich fabric of America.

    Peay serves a Navy that operates far forward, around the world and around the clock, promoting the nation’s prosperity and security.

    “We will earn and reinforce the trust and confidence of the American people every day,” said Admiral Lisa Franchetti, Chief of Naval Operations. “Together we will deliver the Navy the nation needs.”

    Peay has many opportunities to achieve accomplishments during military service.

    “My proudest accomplishment in the Navy was the moment I saw my name on the list for Medical Service Corps Officer,” said Peay. “It felt like a culmination of all the sleepless nights, relentless training, and unwavering commitment. That moment was a testament to the perseverance and dedication that fueled my journey. It wasn’t just about the rank; it was about the recognition of all the sacrifices and hard work. Knowing that I had earned this honor through sheer determination made it incredibly fulfilling. It’s a milestone continually reminding me of the power of resilience and the incredible heights we can reach when we commit fully to our goals.”

    Peay can take pride in serving America through military service.

    “Serving in the Navy means everything to me,” said Peay. “It’s about safeguarding the freedom we all cherish, ensuring the security of our nation, and creating a pathway to a better life—for myself and countless others. It’s a profound commitment to a cause greater than any individual, and it’s given me a sense of purpose and belonging. The Navy has not only provided me with a stable and secure career but also with the opportunity to grow, learn, and forge a life filled with meaning and pride. Every day I serve, I’m reminded of the incredible impact we have on the world, and that is the greatest honor of all.”

    MIL Security OSI –

  • MIL-OSI USA: This Week in NJ – October 25th, 2024

    Source: US State of New Jersey

    Governor Murphy Highlights More Than $1 Billion Investment in Child Care Sector

    Governor Phil Murphy highlighted that his Administration has invested more than $1 billion in expanding access to high-quality, affordable child care across New Jersey. The Governor also announced an additional $17 million in funding for the New Jersey Economic Development Authority (NJEDA) Child Care Facilities Improvement Program. With these new resources, New Jersey is dedicating more than $140 million to improve child care infrastructure, representing one of the largest investments of any state in the country. The announcement was made at a child care center in West Orange that is expanding access to services thanks to funding from the NJEDA. 

    Building on the Murphy Administration’s comprehensive strategy to support the state’s vital child care sector, the NJEDA’s Child Care Facilities Improvement Program provides grants to eligible child care providers for improvements that contribute to high quality early childhood learning environments. Through the program, which awards grants of up to $200,000, the NJEDA has approved $85 million in grants to over 400 child care centers that collectively enroll over 34,000 children and employ over 8,500 staff. With the inclusion of new funding announced, the NJEDA now anticipates another 200 centers will receive awards, bringing the total to more than 600 child care centers across all 21 New Jersey counties. Nearly a third of all awards are to centers located in Opportunity Zones.

    “Affordable, exceptional child care is a vital part of a stronger and fairer New Jersey economy, and the increased funding announced today will strengthen our state’s economic security and provide equitable opportunities to working parents,” said Governor Phil Murphy. “Increased access to high-quality child care allows more parents to return to the workforce, bolstering New Jersey’s economic growth and competitiveness. Thank you to the Biden-Harris Administration, who have provided record-high federal funding to expand access to child care, health care, and other critical resources for families in the Garden State.” 

    With the additional $17 million in Federal American Rescue Plan State Fiscal Recovery Fund funding announced, the NJEDA anticipates being able to approve all eligible child care centers that applied to Phase One of the program, which is no longer accepting new applications. A significant focus of the program is expanding or unlocking capacity within child care centers, especially for infants and toddlers. All construction work is delivered by New Jersey Department of Labor Registered Public Works Contractors and subject to prevailing wage and affirmative action monitoring.

    READ MORE

    New Jersey Slated to Get a Total of $168M for Water Infrastructure

    The U.S. Environmental Protection Agency (EPA) announced $3.6 billion in new funding under the Biden-Harris Administration’s Bipartisan Infrastructure Law (BIL) to upgrade water infrastructure and keep communities safe. New Jersey is slated to get more than $168 million for drinking water and wastewater improvements – including the $44 million that was announced as part of EPA’s announcement of the Lead and Copper Rule Improvements earlier this month. This BIL funding will help communities across the state upgrade water infrastructure that is essential to safely managing wastewater, protecting local freshwater resources, and delivering safe drinking water to homes, schools, and businesses. 

    These 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. This announcement includes allotments for New Jersey’s Bipartisan Infrastructure Law Clean Water General Supplemental funds totaling $101 million, Emerging Contaminant funds totaling $8.7 million, and $13.6 million in funds under the Drinking Water Emerging Contaminant Fund. 

    “We are grateful to the Biden-Harris Administration, New Jersey’s congressional delegation, and the Environmental Protection Agency for their continued support in helping us build a cleaner and healthier Garden State through the Bipartisan Infrastructure Law,” said New Jersey Governor Phil Murphy. “This newly announced funding will help New Jersey communities with the vital tasks of ensuring that everyone in New Jersey has access to clean, safe drinking water and protecting and improving water quality throughout the state. These critical investments in our environmental infrastructure will help protect our citizens from lead and forever chemicals in drinking water, support proper management of wastewater and stormwater to protect our surface and ground waters, and create good-paying jobs for New Jerseyans.”

    READ MORE

    Governor Murphy Announces Planned Innovation Center Based in Newark

    Governor Phil Murphy announced that the New Jersey Economic Development Authority (NJEDA) and the New Jersey Innovation Institute (NJII), a corporation of the New Jersey Institute of Technology (NJIT), have launched the NJII Venture Studio, the state’s latest Strategic Innovation Center (SIC). The NJII Venture Studio will focus on accelerating and commercializing intellectual property with a focus on high technology and information technology developed by NJIT, NJII and NJIT’s corporate partners, as well as other academic institutions who contribute to the advancement of the industry. This will be the seventh SIC in New Jersey announced under the Murphy Administration.

    “Since I took office, my administration has been laser focused on positioning New Jersey as a national leader in innovation and technology development,” said Governor Phil Murphy. “The NJII Venture Studio, our seventh Strategic Innovation Center, will provide aspiring entrepreneurs with access to cutting-edge technology and the chance to collaborate with industry experts. This exciting initiative reinforces New Jersey’s reputation as a hub for innovation and research and the tremendous expertise within our state’s research universities.”

    NJII, a non-profit subsidiary corporation established by NJIT in 2014, will operate and manage the Studio. The NJEDA and NJII have entered into a non-binding term sheet to establish the creation, funding, and management of the Venture Studio with an opportunity to make equity investments into participating companies. The Studio, which will be located in the Paul Profeta Center for Innovation and Entrepreneurship in Newark, will seek to launch two to three start-ups a year over a four-year period.

    The Venture Studio will provide emerging companies with necessary business training, operating services, physical space, and management guidance to transform their research into commercially viable products and services. Pending approval by its Board, the NJEDA intends to invest $5.8 million into the project on a 1:1 basis with NJII, with program funding for the Venture Studio totaling $11.6 million.

    READ MORE

    Lt. Governor Way, Attorney General Platkin, and OHSP Director Doran Announce Safeguards to Protect the Right to Vote During the 2024 General Election

    Lieutenant Governor Tahesha Way, Attorney General Matthew J. Platkin, and New Jersey Office of Homeland Security and Preparedness (NJOHSP) Director Laurie Doran announced that the State of New Jersey will be taking a multi-pronged approach to help ensure that the 2024 General Election is fair, transparent, secure, and runs smoothly. Among the efforts highlighted are the Division of Elections Voter Information project and the Department of Law and Public Safety’s (LPS) Voter Protection Initiative.

    Presidential general elections see the highest voter participation numbers, and it is important for voters to know what to expect. New Jersey law contains many checks and balances to protect the right to vote, and the State has implemented measures that prioritize voting integrity and safety.

    “As chief election official, I am proud to work with my state and federal law enforcement and security colleagues to support our county election officials as they administer free and fair elections for all New Jersey voters,” said Lieutenant Governor Tahesha Way, who leads the New Jersey Division of Elections in her capacity as Secretary of State. “Together, we ensure that our elections are safe, secure, and free from interference. Every New Jersey voter can prepare to participate in this election by visiting vote.nj.gov and making their plan to vote.”

    “New Jersey is fully prepared to quickly and decisively identify and resolve any issues related to voting,” said Attorney General Matthew J. Platkin. “Voting is the cornerstone of our democracy and a fundamental right. We will do everything in our power to ensure every eligible voter can exercise their right to participate in the democratic process without interference.”

    “Year round, the New Jersey Office of Homeland Security and Preparedness collaborates with local, state, and federal partners through the Election Security Task Force to protect our elections and uphold our democratic processes,” said NJOHSP Director Laurie Doran. “As we prepare for the 2024 presidential election, NJOHSP and the Task Force are focused on ensuring New Jersey’s public safety and election officials are equipped to handle all threats and hazards, whether physical or cyber, foreign or domestic.”

    READ MORE

    New Jersey Board of Public Utilities Announces Adoption of Minimum Filing Requirements for Medium-and-Heavy-Duty Electric Vehicles

    The New Jersey Board of Public Utilities (NJBPU) announced on Wednesday the adoption of minimum filing requirements (MFRs) that direct the state’s investor-owned electric distribution companies (EDCs) to propose programs to expand charging access for medium-and-heavy-duty (MHD) electric vehicles (EVs) and fleets. The expansion of New Jersey’s EV charging ecosystem will catalyze the ongoing clean transition of the state’s fleet, yielding significant greenhouse gas (GHG) emissions reductions within the state’s transportation sector and improving localized air quality.

    New Jersey’s transportation sector accounts for nearly 40% of the state’s net GHG emissions, with MHD trucks and busses emitting an outsized share of those emissions. Low-income neighborhoods and communities of color are more likely to be exposed to these pollutants due to their disproportionate proximity to freight corridors, ports, and distribution centers. The adopted MFRs allow utilities to provide additional “bonus” incentives for overburdened municipalities and overburdened communities adjacent to Freight EV Corridors, as well as small businesses.

    “Today’s announcement by the BPU is a key part of my Administration’s whole-of-government approach to reducing harmful emissions from the transportation sector that negatively impact the health of our residents,” said Governor Phil Murphy. “Along with New Jersey’s action on Advanced Clean Trucks and the Clean Corridors Coalition, we are building a robust charging infrastructure for a clean transportation future.”

    “Under Governor Murphy’s leadership and in coordination with New Jersey’s EDCs, the NJBPU remains at the forefront of advancing smart, clean transportation initiatives and infrastructure that provide considerable health and environmental benefits,” said NJBPU President Christine Guhl-Sadovy. “These benefits are especially vital to the overburdened communities that have borne the brunt of air pollution and its health effects for far too long.”

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    MIL OSI USA News –

  • MIL-OSI USA: First Lady Tammy Murphy Hosts 22nd Family Festival in Orange to Address Maternal and Infant Health Crisis

    Source: US State of New Jersey

    The Family Festival Series Has Now Reached 14,950 Families Across 11 Counties

    ORANGE – First Lady Tammy Murphy marked her 22nd Nurture NJ Family Festival in Orange today, gathering 1,100 attendees to receive valuable state, county and local resources for expectant and new parents, including health care, housing support, food assistance, child care and more.

    “Over the past seven years, our Family Festivals have provided support and resources to countless mothers and families across the Garden State. There are incredible resources available to New Jerseyans and – with help from our partners – we are putting them within reach in every community we visit,” said First Lady Tammy Murphy. “Communities like Orange represent the very best of New Jersey. However, we know that communities of color experience significant disparities in maternal and infant health outcomes. That is why I look forward to continuing our festival series in targeted cities as we work to make New Jersey the safest and most equitable place in the nation to have a baby and raise a family.”

    In a city like Orange, with large Black and Latino communities, the consequences of New Jersey’s maternal and infant health crisis are unmistakable. In New Jersey, a Black mother is nearly seven times more likely and Hispanic mothers are three and a half times more likely than white mothers to die of maternity-related complications. Orange ranks sixth among our cities that experience high rates of Black infant mortality.

    Launched by First Lady Tammy Murphy in 2019, Nurture NJ is a statewide initiative committed to addressing our state’s maternal and infant health crisis. Since its inception, Nurture NJ has seen over 65 pieces of maternal and infant health legislation signed by Governor Murphy. The initiative has also developed and implemented groundbreaking programs and policies, such as the first-of-its-kind in the nation Maternal and Infant Health Innovation Authority (MIHIA), which is tasked with overseeing the groundbreaking New Jersey Maternal and Infant Health Innovation Center based in Trenton, and will be the arm of government that continues the vital work of Nurture NJ past the Murphy Administration.

    Under First Lady Murphy’s leadership, Nurture NJ has made significant policy achievements including: developing the Nurture NJ Maternal and Infant Health Strategic Plan – of which over half of its more than 80 recommendations have been started or completed; becoming the second state to expand Medicaid coverage to 365 days postpartum; establishing Medicaid reimbursement for doula care; increasing all perinatal Medicaid provider reimbursements to 100 percent of Medicare rates; and launching the most robust-in-the-nation universal nurse home visitation program so that every new parent is visited by a nurse in their home for free within two weeks after bringing home a new baby. Through these innovative policies and more, Nurture NJ has positioned New Jersey as a national leader in the fight against the maternal and infant health crisis.

    The Orange Family Festival was hosted in partnership with the Office of First Lady Tammy Murphy, Nurture NJ, Senator Britnee Timberlake, Assemblywoman Carmen Morales, Assemblyman Mike Venezia, County of Essex, City of Orange, Orange Public Schools, Essex Pregnancy and Parenting, Greater Newark Health Care Coalition, Horizon Blue Cross Blue Shield of New Jersey, Newark Community Health Centers, Partnership for Maternal and Child Health of Northern NJ, Perinatal Health Equity Initiative, Prevent Child Abuse NJ, Programs for Parents, RWJBarnabas Health and The Burke Foundation. 

    “Partnering with First Lady Tammy Murphy for the Family Festival in Essex County, Orange, NJ, was a true privilege. This event united families and provided invaluable resources, aligning perfectly with my legislative priorities around children and families. My gratitude goes to the First Lady, the City of Orange, and all other organizers and partners for orchestrating such an inspiring and impactful event,” said Senator Britnee Timberlake.

    “I want to extend my heartfelt gratitude to First Lady Tammy Murphy for her unwavering support and dedication to our communities. I am thrilled to welcome the family festival to Orange, NJ. This investment not only enhances our community but also creates opportunities for our residents. Together, we are building a brighter future for our families and ensuring that the Oranges have all the resources and support that our families deserve,” said Assemblywoman Carmen Morales.

    “I’m proud to support First Lady Tammy Murphy’s Family Fun Day in Orange, which provides critical resources and services to our families in a warm, community-centered setting. This event exemplifies our commitment to ensuring all New Jersey families have access to the support they need to thrive,” said Assemblyman Mike Venezia.

    “If there is anything that we learned from the COVID pandemic, it’s that promoting public health and reaching out to the community to make health care more accessible are most important. Events like the Family Festival enable us to connect with underserved and hard to reach communities and provide a one-stop location where residents can begin their journey to wellness. Working with the state, health agencies and community partners, we are Putting Essex County’s Health First,” said Essex County Executive Joseph N. DiVincenzo, Jr.

    “The core of family health is ensuring that every family, regardless of background or circumstance, has access to the care and resources they deserve. Through this event, we celebrate the incredible collaboration between the NJDOH, RWJBarnabas Health, and our community partners, working together to bridge the gaps in health equity and empower families across Essex County. Together, we are building a healthier, more equitable future for all,” said Maya Harlow, Essex County Health Officer/ Director.

    “With open arms we welcome First Lady Tammy Murphy and her staff as we collaborate to launch the Orange Family Festival on Saturday. This family and resource connection effort will serve as a direct pipeline to successes in Orange households, schools and community spaces by focusing on children and parents in need. We appreciate First Lady Murphy and the Governor for helping to extend our reach to every part of our community,” said Mayor Dwayne Warren of Orange.

    “The Orange School District supports opportunities for families to engage with our community partners. I am quite pleased that the City of Orange was selected to host this amazing event for our community.  I believe the powerful information must be disseminated and this event is right in line with this thinking,” said Superintendent of Schools Dr. Gerald Fitzhugh, II.

    “First Lady Tammy Murphy’s Family Festival in Orange is an inspiration to the people in these challenging times. The event clearly guides families in underserved communities to access the care and resources that are available in their community in an atmosphere of hope for a better and healthier life. The NJ Nurture program gives families, moms and children wealth in health,” said Dr Pamela Clarke, President & CEO of Newark Community Health Centers Inc.

    “Improving maternal and infant health is central to creating a healthier New Jersey and that is what the Family Festivals are all about.  Everyone deserves access to affordable healthcare no matter who they are or where they live and we are grateful for the opportunity to continue our partnership with the Governor and First Lady.  As New Jersey’s health solutions leader, Horizon is meeting our neighbors where they live and helping them achieve their best health through partnerships like this one,” said Wendy Morriarty, VP and Chief Medicaid Officer, Horizon Blue Cross Blue Shield of NJ.

    “Cooperman Barnabas Medical Center, together with RWJBarnabas Health, remains committed to providing equitable health care, helping to improve the health and well-being of our community, said Richard L. Davis, President and CEO of Cooperman Barnabas Medical Center. “We are honored to be a part of First Lady Tammy Murphy’s Family Festival, which is in alignment with our system mission to partner with our communities to build and sustain a healthier New Jersey.”

    “The Burke Foundation is proud to support the First Lady’s Nurture NJ Family Festivals which bring together families and the support they need to thrive within the communities where they live. We’re committed to improving maternal and child health in New Jersey by investing $15 million over the next five years in programs that will improve families’ health and well-being, and we’re honored to be part of today’s celebration in Orange,” said Atiya Weiss, Executive Director of the Burke Foundation.

    “The Greater Newark Health Care Coalition is proud to partner with First Lady Tammy Murphy and our local and state partners to bring so many resources and programs to the Orange community and its neighbors. Having access to many critical resources under one roof in the community helps eliminate accessibility barriers that prevent our families from benefiting from great programs. We thank First Lady Tammy Murphy, Nurture NJ, and the sponsors for their vision and commitment to improve maternal and child health in NJ,” said Andrea Martinez-Mejia, Executive Director, Greater Newark Health Care Coalition.

    “The Family Festival brings communities together and provides important resources to strengthen and empower families.  We are thrilled to be part of this event which supports children and families and exemplifies prevention in partnership in New Jersey,” said Gina Hernandez, CEO and Executive Director, Prevent Child Abuse-New Jersey and Essex Pregnancy and Parenting.

    “We are thrilled to participate in the First Lady of New Jersey’s Family Festival, where we can stand alongside families and community partners dedicated to a future with equitable healthcare. Our participation in This event reflects our unwavering commitment to addressing disparities in Black infant and maternal health, and we look forward to empowering and supporting families with the resources, knowledge, and compassion they deserve,” said Dr. Nastassia Harris, Founder of Perinatal Health Equity Initiative.

    “We are excited to be part of the festival, so we can meet Essex County parents to share information about the New Jersey Child Care Assistance Program, how to find quality child care and talk, generally, with them about their child care needs,” said Nayibe Capellan, CEO Programs for Parents.

    “We are thrilled to support the First Lady’s Family Festival.  These events not only provide vital health resources for the residents of Orange, but they bring together the community for a day of fun,” said Mariekarl Vilceus-Talty, President & CEO, Partnership for Maternal and Child Health of Northern New Jersey.

    MIL OSI USA News –

  • MIL-OSI Global: What you need to know about clonazepam, the drug found in Liam Payne’s hotel room

    Source: The Conversation – UK – By Michael Cole, Professor of Forensic Science, Anglia Ruskin University

    Early toxicology reports suggest that former One Direction singer Liam Payne had several drugs in his system when he fell to his death from a hotel balcony in Buenos Aires, Argentina. These include pink cocaine (which comprises several drugs), cocaine, benzodiazepine and crack.

    While the type of benzodiazepine wasn’t mentioned in the toxicology report, it is known that the police found a blister pack of clonazepam in the singer’s hotel room.

    Although there has been a general fall in the use of benzodiazepines, clonazepam has bucked that trend. The reason for this is unclear, but it could be the drug’s potency. It is not without reason that on the street it is sometimes referred to as “super Valium”.

    Clonazepam was first approved by the US Food and Drug Administration in 1975. It is used to treat a range of conditions, including epileptic seizures, muscle spasms, anxiety and panic disorders. Doses range from 0.5mg to 2mg in tablet or liquid forms. (By comparison, a teaspoon of sugar weighs about 5,000mg.) It is also 20 times more potent than diazepam (Valium), with 0.5mg of clonazepam being equivalent to 10mg diazepam.

    The onset time for clonazepam – that is, the time to have an effect – is an hour or more. Xanax, also a benzodiazepine, starts to act within ten minutes, while Valium takes between 15 and 60 minutes.

    Although slower to start acting, the effects of clonazepam are longer lasting than many benzodiazepines. For example, the half-life (the time taken for the body to reduce the amount of drug in the body by 50%) of Xanax is six to 25 hours, of Valium 48 hours and clonazepam up to 54 hours.

    In recreational use, tablets are powdered and then snorted. The drug enters the bloodstream through the membranes in the nose. Taken this way the drug is faster to act and more is available in the bloodstream to have an effect.

    The drug is thought to work by enhancing the activity of a brain chemical (neurotransmitter) called Gaba. It dampens brain activity by blocking the signals between neurons. Boosting Gaba is known to reduce anxiety, promote relaxation and help with sleep.

    Steady rise

    Recently there has been a rise in the use and misuse of clonazepam in the UK. Prescriptions for the drug increased by 12% in 2023. The UK Rehab website states: “The rise in clonazepam addiction reflects a larger trend in the misuse of prescription medications, a public health crisis that has escalated into epidemic proportions in some regions.”

    Google searches for clonazepam have increased, with a particular interest in the drug in parts of the US. There are also reports of new polydrug mixtures containing clonazepam, such as karkoubi, which has been reported in Algeria and Morocco, mixing clonazepam with cannabis and tobacco.

    Taking clonazepam is not without dangers. Even under medical supervision, people can develop tolerance to it and become dependent.

    Doctors tend to prescribe low doses and then gradually increase the dose until the desired therapeutic effect is achieved. However, if the drug is taken over long periods (four weeks is often cited) people can become dependent. Withdrawal symptoms – such as tremors, sweating and nausea – are then experienced when the patient stops taking the drug.

    Clonazepam also causes side-effects that can include trouble speaking, feeling sleepy, a slower heartbeat and excitability. Although rarer, some people hallucinate.

    When mixed with other drugs or alcohol, the problems are compounded. For example, mixing with opiates and opioids (for example, codeine, methadone, morphine, oxycodone and tramadol) or alcohol can lead to sedation, slower breathing and heart rate, coma and even death.

    Taking drugs in combination is known to be extremely dangerous. More than 93% of drug deaths in Scotland in 2021 involved more than one drug.

    With these potential dangers, clonazepam is tightly controlled internationally. In the UK, it is a class C drug under the Misuse of Drugs Act. Other class C drugs include GHB, tramadol, cathinone and anabolic steroids.

    But tough laws alone will not stop drugs from being misused. So when people choose to take drugs, including clonazepam, it is important that they understand what the drug might do and what the risks might be.

    Michael Cole receives funding and “in kind” support from the European Union and a number police forces and forensic science organisations around the world to carry out research.

    – ref. What you need to know about clonazepam, the drug found in Liam Payne’s hotel room – https://theconversation.com/what-you-need-to-know-about-clonazepam-the-drug-found-in-liam-paynes-hotel-room-241853

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Media Registration: Closing News Conference of the CPTPP Commission Chaired by Canada

    Source: Government of Canada News

    October 28, 2024 – The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development will Chair the 2024 Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission Meeting in Vancouver from November 27-28, 2024.

    October 28, 2024  – The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development will Chair the 2024 Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Commission Meeting in Vancouver from November 27-28, 2024. The Meeting will bring together Ministers and senior officials from member countries to advance the Agreement’s objectives and enhance trade cooperation across the Pacific region and beyond.

    The CPTPP helps Canadian businesses by reducing trade barriers and costs and creating clear rules for international trade. As Chair, Canada is working to ensure the CPTPP remains the “gold standard” of international trade agreements.  

    Media representatives who wish to cover the closing news conference must register ahead of the event. Registration is open to journalists (print, radio, television, news agencies and online media) who are on assignment with a bona fide media organization.

    Date: Thursday, November 28, 2024
    Start Time: 2:30 p.m. PT
    Place: Vancouver, British Columbia

    Notes for media:

    • Media must register by email media@international.gc.ca in order to obtain the venue address.
    • Media representatives are asked to arrive no later than 2:15 p.m.
    • A media room will be available for one-on-one interviews. 

    Huzaif Qaisar
    Press Secretary
    Office of the Minister of Export Promotion, International Trade and Economic Development
    343-575-8816
    Huzaif.Qaisar@international.gc.ca

    MIL OSI Canada News –

  • MIL-OSI USA: NASA Provides Update on Artemis III Moon Landing Regions

    Source: NASA

    As NASA prepares for the first crewed Moon landing in more than five decades, the agency has identified an updated set of nine potential landing regions near the lunar South Pole for its Artemis III mission. These areas will be further investigated through scientific and engineering study. NASA will continue to survey potential areas for missions following Artemis III, including areas beyond these nine regions.
    “Artemis will return humanity to the Moon and visit unexplored areas. NASA’s selection of these regions shows our commitment to landing crew safely near the lunar South Pole, where they will help uncover new scientific discoveries and learn to live on the lunar surface,” said Lakiesha Hawkins, assistant deputy associate administrator, Moon to Mars Program Office.
    NASA’s Cross Agency Site Selection Analysis team, working closely with science and industry partners, added, and excluded potential landing regions, which were assessed for their science value and mission availability.
    The refined candidate Artemis III lunar landing regions are, in no priority order:

    Peak near Cabeus B
    Haworth
    Malapert Massif
    Mons Mouton Plateau
    Mons Mouton
    Nobile Rim 1
    Nobile Rim 2
    de Gerlache Rim 2
    Slater Plain

    These regions contain diverse geological characteristics and offer flexibility for mission availability. The lunar South Pole has never been explored by a crewed mission and contains permanently shadowed areas that can preserve resources, including water.
    “The Moon’s South Pole is a completely different environment than where we landed during the Apollo missions,” said Sarah Noble, Artemis lunar science lead at NASA Headquarters in Washington. “It offers access to some of the Moon’s oldest terrain, as well as cold, shadowed regions that may contain water and other compounds. Any of these landing regions will enable us to do amazing science and make new discoveries.”
    To select these landing regions, a multidisciplinary team of scientists and engineers analyzed the lunar South Pole region using data from NASA’s Lunar Reconnaissance Orbiter and a vast body of lunar science research. Factors in the selection process included science potential, launch window availability, terrain suitability, communication capabilities with Earth, and lighting conditions. Additionally, the team assessed the combined trajectory capabilities of NASA’s SLS (Space Launch System) rocket, the Orion spacecraft, and Starship HLS (Human Landing System) to ensure safe and accessible landing sites.
    The Artemis III geology team evaluated the landing regions for their scientific promise. Sites within each of the nine identified regions have the potential to provide key new insights into our understanding of rocky planets, lunar resources, and the history of our solar system.
    “Artemis III will be the first time that astronauts will land in the south polar region of the Moon. They will be flying on a new lander into a terrain that is unique from our past Apollo experience,” said Jacob Bleacher, NASA’s chief exploration scientist. “Finding the right locations for this historic moment begins with identifying safe places for this first landing, and then trying to match that with opportunities for science from this new place on the Moon.”
    NASA’s site assessment team will engage the lunar science community through conferences and workshops to gather data, build geologic maps, and assess the regional geology of eventual landing sites. The team also will continue surveying the entire lunar South Pole region for science value and mission availability for future Artemis missions. This will include planning for expanded science opportunities during Artemis IV, and suitability for the LTV (Lunar Terrain Vehicle) as part of Artemis V.
    The agency will select sites within regions for Artemis III after it identifies the mission’s target launch dates, which dictate transfer trajectories, or orbital paths, and surface environment conditions.
    Under NASA’s Artemis campaign, the agency will establish the foundation for long-term scientific exploration at the Moon, land the first woman, first person of color, and its first international partner astronaut on the lunar surface, and prepare for human expeditions to Mars for the benefit of all.
    For more information on Artemis, visit:
    https://www.nasa.gov/specials/artemis
    -end-
    James Gannon / Molly WasserHeadquarters, Washington202-358-1600james.h.gannon@nasa.gov / molly.l.wasser@nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: When Loans Become Cheesy

    Source: US Global Legal Monitor

    Did you know there is a bank in Italy that accepts wheels of Parmigiano Reggiano as collateral on loans? If, like me, you are now contemplating leaving your current career and getting a job as a bank teller for Credito Emiliano (commonly referred to in the region as Credem), read on.

    Most of the time, when we think of collateral, we think of something like the mortgage on a house. If a homeowner is unable to make payments on the house, the bank that holds the mortgage may seize the collateral (the house) and sell it to satisfy the debt (we call this liquidating the assets). So, how does this work with big wheels of cheese?

    First, it is important to note that Parmigiano Reggiano is no ordinary cheese. True Parmigiano Reggiano can only be produced in one of five provinces within Italy: Parma, Reggio-Emilia, Modena, Bologna, or Mantova. While the ingredients that go into a wheel of Parmigiano are simple – just cow’s milk, salt, and calf rennet (a natural enzyme from cow intestines that helps form curds) – the strict process, which has remained largely unchanged for eight centuries, takes time. After the cheese has aged for 12 months, the Consorzio del Formaggio Parmigiano Reggiano (the Parmigiano Reggiano Consortium), which is the governing body that regulates standards for Parmigiano Reggiano, inspects each wheel. As an aside: each wheel of Parmigiano is the same size to ensure consistent texture – and each wheel weighs over 80 pounds! If a wheel passes the 12-month test, it receives a literal stamp of approval and the protected designation of origin label (PDO or DOP in Italian). The Parmigiano Reggiano Consortium helpfully provides links to legislation and guidelines surrounding Parmigiano in English on its website, here.

    So now, back to Credem, the bank that accepts wheels of Parmigiano Reggiano as collateral on small-business loans it makes to dairy farmers in the Emilia Romagna region. Wheels of Parmigiano can go for anywhere between $900 and $2500. Parmigiano only gets more valuable as it ages. But often, farmers will sell off less mature wheels to have more immediate access to money, even though this turns into a loss of revenue in the long term. In 1953, Credem saw an opportunity to help local farmers maximize their profits by offering loans of up to 70 or 80% on wheels of Parmigiano. That way, the farmers could get the cash they needed up-front and the bank could ensure the wheels of cheese would have time to age and reach their highest value. Credem takes its role seriously, storing the wheels of cheese it accepts as collateral in climate-controlled vaults that are inspected by Parmigiano Reggiano experts for the duration of the loan.

    By the way, this is not the only instance of unusual loan collateral. Before Prohibition, banks in the United States accepted whiskey as collateral. In 2013, it was reported that a bank in Hong Kong accepted designer bags as loan collateral. Perhaps my favorite example of strange collateral is a bank in Spain that sought a loan from the European Central Bank and wanted to offer Cristiano Ronaldo and Kaká as collateral.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI USA: Be Aware of World Series Ticket Scams

    Source: US State of New York

    Governor Kathy Hochul today warned New York baseball fans looking to purchase last-minute World Series tickets to be aware of potential scams. This year is the first time the Yankees and Dodgers have faced off in the World Series since 1981, and Game 3 on Monday brings the series to New York City. The match up is historic for baseball fans, but also an opportunity for scammers to take advantage of high demand. Governor Hochul is urging consumers to follow tips provided by the New York Department of State’s Division of Consumer Protection to avoid event ticket scams leading up to the Yankees vs. Dodgers World Series home games at Yankee Stadium.

    “We couldn’t be more excited for our New York Yankees to bring the World Series to the Bronx this week,” Governor Hochul said. “With demand soaring to witness this historic match up, I’m encouraging New Yorkers to protect their hard earned money and be on the lookout for potential ticket scams. Follow our tips to avoid falling victim as we cheer on the Yankees this week.”

    TIPS TO AVOID TICKET SCAMS:

    • Purchase from the venue: Many official ticket sales agents now offer secondary sales options, as well.
    • Verify the seller: You can look up the seller on VerifiedTicketSource.com to confirm you are buying from a National Association of Ticket Brokers-member resale company, which requires its members to guarantee that every ticket sold on their websites is legitimate. Beware of fake websites impersonating a legitimate ticket seller; check the URL for accuracy.
    • Buy only from trusted sources: Buy only from vendors you know and trust. Be especially wary of online marketplaces like Craigslist, Facebook Marketplace and other social media sites, as they are ripe with scammers peddling bogus tickets. Also avoid the so-called ticket scalpers who approach you outside the event gates, since it’s easy for scammers to sell you a fake ticket and disappear.
    • Use payment methods that come with protection: Always use a credit card or PayPal goods and services payment option so you may have some recourse if the tickets are not as promised. Debit cards, wire transfers, or cash transactions are risky; if the tickets are fraudulent, you won’t be able to get your money back.
    • Beware of low prices: When you search the web for online tickets, advertisements for cheap tickets will often appear. Use good judgment; some ads will be ticket scams, especially if the prices are low. If it looks too good to be true, it’s probably a scam.
    • Use a strong password: Many stadiums and venues have gone to only accepting digital tickets, which can only be accessed through an app. Be sure to use a strong password to ensure a scammer can’t hack into your account and steal your ticket.

    New York State Secretary of State Walter T. Mosley said, “As tickets sell out and excitement runs high, scammers will try to take advantage of fans still looking to buy tickets. Fans looking to score last-minute seats for this iconic match up should follow our Division of Consumer Protection tips to avoid being scammed. And lastly, let’s go Yankees!”

    About the New York State Division of Consumer Protection
    Follow the New York Department of State on Facebook, X and Instagram and check in every Tuesday for more practical tips that educate and empower New York consumers on a variety of topics. Sign up to receive consumer alerts directly to your email or phone.

    The New York State Division of Consumer Protection provides voluntary mediation between a consumer and a business when a consumer has been unsuccessful at reaching a resolution on their own. The Consumer Assistance Helpline 1-800-697-1220 is available Monday to Friday from 8:30 a.m. to 4:30 p.m., excluding State Holidays, and consumer complaints can be filed at any time online. The Division can also be reached via X at @NYSConsumer or Facebook.

    MIL OSI USA News –