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  • MIL-OSI New Zealand: Consumers and Tech – Revealed: the WiFi routers to rent, upgrade to or buy outright – Consumer NZ

    Source: Consumer NZ

    Find out which routers offer the best home WiFi performance.

    In partnership with the Commerce Commission, Consumer NZ has tested a number of WiFi routers and reveals that some broadband companies now provide devices as good as off-the-shelf options

    “This work builds on the Commission’s monitoring, including our RealSpeed report, which shows the importance of having a good in-home set-up to make the most of your broadband speeds,” says Tristan Gilbertson, Telecommunications Commissioner.

    Consumer’s expert testers put a selection of models from broadband providers and popular retail brands through their paces.

    “Your router is your gateway to the internet, and the better the router, the better the performance of your connectivity,” says Mr Gilbertson.

    As Nick Gelling, Consumer product test writer, says, “With a growing number of households relying on stable internet connectivity to stream TV, work remotely or play games, understanding the differences in router performance, ease of use and security features is crucial.

    “Nearly all New Zealanders use WiFi to connect multiple devices throughout their homes to the internet, yet many are unaware of how to optimise their set-ups for the best performance.”

    Find a reliable router

    Consumer’s rigorous testing revealed that many routers provided by telcos are now on a par with, and in some cases outperform, popular third-party options.

    “This is promising news for people who are hesitant to invest in their own equipment,” said Gelling, “because, these days, many telcos offer routers for rent at about $4 to $5 per month.

    Standout performers in Consumer’s testing

    Consumer’s test experts found that the best off-the-shelf options were the TP-Link Deco X55 and XE75 mesh systems. Some of the top performing routers provided by broadband providers included the TP-Link Deco X53 (fibre and copper-based DSL) and X58-4G (4G broadband), as well as Spark’s Smart Modem 2 (fibre and 4G).

    Visit the Consumer website for a full breakdown of the results: https://consumernz.cmail19.com/t/i-l-fjtuddt-iyhupdhli-y/

    Consumer insights: When to upgrade

    Consumer NZ’s Gelling emphasised the importance of knowing when to upgrade your router.

    “While many broadband providers are now offering quality hardware, it’s sensible to update your router every few years.

    “If you’re still using an outdated model, you might be missing out on significant improvements in speed and security.”

    The Commission advises New Zealanders to assess their current internet performance to check if they should upgrade to a faster plan or connection type, before deciding to switch providers or purchase a new router.

    Simple steps like repositioning your router or connecting devices to the 5GHz band can often yield noticeable improvements.

    The Cost of Connectivity

    As more telcos begin to implement monthly rental fees for routers, with costs typically around $4 to $5 per month, Consumer urges people to consider their options carefully.

    “While these fees might seem nominal, investing in your own quality router gives you the freedom to swap providers more often, which could save you money in the long run,” Gelling added.

    “With the rising cost of internet services, which have increased by 11% over the past two years, understanding your options for obtaining a reliable router can help mitigate some of these costs.”

    Tips for Consumers

    Evaluate your current setup: Ensure your router is positioned centrally in your home, ideally where you can see it.
     
    Consider a mesh system: For larger homes, investing in a mesh network (linking up two or more routers) can significantly improve connectivity.
     
    Stay updated on technology: Look for routers that support at least the WiFi 6 standard for now. The cost of WiFi 7 is still high and it’s not yet compatible with most phones and computers.
     
    Don’t hesitate to buy: If your telco’s offerings are lacking, don’t be afraid to invest in a high-quality third-party router.
     
    Explore options to change provider: There can be advantages to switching providers particularly at the time of your contract ending or if your router is over four years old.

    For detailed test results and a comprehensive buying guide, visit Consumer NZ’s website: https://consumernz.cmail19.com/t/i-l-fjtuddt-iyhupdhli-y/

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: New rules mean faster payment times for small businesses

    Source: New Zealand Government

    New requirements for government agencies to pay their invoices faster and adopt labour-saving technology are an important part of our plan to rebuild the economy and support small businesses, Small Business and Manufacturing Minister Andrew Bayly and Economic Development Minister Melissa Lee say.

    “The Government is ambitious about lifting New Zealand’s economic productivity and improving public sector efficiency, which means adopting smarter ways of working,” Mr Bayly says.

    “Government agencies are a large client for businesses up and down the country, supplying everything from stationery and furniture, through to services such as software, security and research. 

    “The 33 central government agencies send and receive 1.6 million invoices annually, with the total number for all 135 government agencies likely many more millions.

    “Prompt payment is especially important for small businesses which have limited cash reserves – an unpaid or late invoice can be the difference between being able to pay staff on time or not.

    “Given 97 per cent of all businesses in New Zealand are small businesses, it is crucial for our broader economic success that government agencies pay their invoices quickly.

    “There are also significant productivity gains from adopting eInvoicing, instead of paper or emailed PDF invoices. eInvoicing allows invoices to be processed digitally, reducing instances of human error and fraud. Estimates suggest that adopting eInvoicing could generate productivity savings of $4.4 billion over the next 10 years.”

    Having invoices paid on time can mean a world of difference to small and medium sized businesses, Ms Lee says.

    “Government agencies should be leading by example, and that’s why I’m rewriting Rule 51 of the Government Procurement Rules so more government agencies adopt eInvoicing and pay their suppliers promptly. 

    “Government agencies spend approximately $51.5 billion a year on procurement. We can leverage this purchasing power to drive innovation and productivity, and boost our economy.

    “From 1 January 2026, agencies that send or receive more than 2,000 domestic invoices a year must have eInvoicing systems in place. These agencies will be required to pay all domestic eInvoices within five business days.

    “To facilitate faster payments in the meantime, I am setting an explicit requirement for around 135 government agencies to pay 90 per cent of all domestic invoices within 10 business days, from 1 January 2025. This will increase to 95 per cent from 1 January 2026. 

    “These changes will help to move money faster around our economy and drive significant economy-wide productivity improvements.”

    Notes to editor

    • A list of agencies required to apply the Government Procurement Rules is available here: www.procurement.govt.nz/about-us/mandate-and-eligibility/.  
    • A wider review of the Government Procurement Rules is currently underway. MBIE will provide recommendations on updated Government Procurement Rules in 2025.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: The International Solar Alliance Announces the Selection of its third Director General

    Source: Government of India (2)

    Posted On: 04 NOV 2024 6:02PM by PIB Delhi

    The seventh session of the ISA Assembly in progress in New Delhi today selected Mr Ashish Khanna from the Republic of India as its third Director General. The other office candidates included Mr Wisdom Ahiataku —Togobo from Ghana and Mr Gosaye Mengistie Abayneh from Ethiopia.

    The Director General of ISA plays a crucial role in supporting the Assembly in advancing the International Solar Alliance mandate. This includes supporting to Member Countries in addressing common challenges and engaging in coordinated action to scale up the deployment of solar energy globally.

    The outgoing Director General, Dr Ajay Mathur, wishing his successor luck, said, “As I step down from my role, I want to take a moment to welcome Mr Ashish Khanna to this incredible journey ahead warmly. Serving in this position has been an honour, and I am confident you will bring unique energy, vision, and passion to this office and role. Your leadership will undoubtedly steer this Alliance to new heights, building on the progress achieved while carving your legacy. The challenges ahead are great, but so are the opportunities. My simple advice is to trust your intuition, lean on the support around you, and know that you have the skills to make a lasting impact. I wish you the very best as you begin this new chapter.”

    As part of the selection process, the three candidates presented to the ISA Member Country representatives, focusing on their vision for a solar energy-dominant world and the role of the Alliance.

    Mr Ashish Khanna, Director General – Designate, ISA, expounding on his plans for expanding ISA’s reach and impact, said the focus has to shift from ‘what’ to ‘how’ as most countries are aware of what needs to be done, but require assistance in reaching those goals. He added that the Alliance will benefit from participating in international fora, where the motivation should be twofold: to explore collaborations, work together, and learn from each other’s experiences. Moving forward, he said he looks forward to building on what is working well and grooming existing partnerships, and he stressed purity of intent and passion for results.”

    Dr Ajay Mathur, who has led the Alliance since 2021, will conclude his tenure on 14 March 2025. Under his leadership, the Alliance has achieved significant milestones, including a monumental rise in Member & Signatory Countries tallying at 103 and 17, respectively, the completion and launch of demonstration projects, and the successful identification of 50 start-ups with potential to dynamise their countries’ journey towards solar energy. His contributions have laid strong foundations to equal challenges that global solar deployment presents under the broad ambits of investments – via the Global Solar Facility, infrastructure through setting up of solar demonstration projects, and indigenisation – via the STAR-Centres and other ISA programme-related trainings.

    Across the three priority areas of work: advocacy and analytics, capacity building, and programmatic support, drawing a spotlight on the Alliance’s accomplishments under his leadership.

    • He steered the aggregation of 9.5 GW of project proposals, including notable projects like a 360 MW solar PV bid in Cuba and a 400 MW approval in Ethiopia. Guided the preparation of feasibility studies for ground-mounted projects and solar rooftop DPRs in Comoros, Sao Tome & Principe, and Bangladesh. Pilot projects are advancing in Ethiopia, and assessments are ongoing in nine countries. Mini-grid assessments in Ethiopia, Somalia, and Guinea, as well as solar water pumping studies, were completed in 10 countries.
    • The STAR-C initiative, the stellar capacity-building ISA offering, has trained over 900 professionals through six centres, with 10 new centres planned. Regulatory workshops in eight countries have trained over 265 policymakers. ISA also drives knowledge management through its Knowledge Series, Solar Data Portals, and Green Hydrogen Innovation Centre. Flagship reports Easing of Doing Solar and World Solar Reports on Technology, Investment and Finance have been published annually since 2020 and 2022, respectively. The latest addition to this repertoire, ‘Unleashing the Role of Solar: In Advancing Economic, Social, And Environmental Equity’ report, focuses on exploring the global adoption of solar (and renewables) through the lens of socio-economic and developmental priorities for each archetype, utilising a diverse set of indicators across finance, technology, and policy enablers.
    • Among the innovative financial tools, ISA’s Global Solar Facility, launched at COP27, aims to unlock $50M in commercial capital for underserved regions, with its first project in the Democratic Republic of the Congo. While the SolarX Startup Challenge, launched at COP27, mentors 50 scalable solar solutions from Africa and Asia-Pacific, supporting the creation of a project pipeline. ISA continues to lead global collaboration on solar energy through events at the Conference of Parties. Since COP27, ISA has been hosting a solar-focussed space, The Solar Hub, and took its advocacy efforts a notch up with the launch of the first International Solar Festival in September 2024, further cementing its role in the global solar transition.

    Speaking of his legacy, Dr Mathur noted, “I would like to be remembered as the Director General who provided some degree of direction for the globalisation of solar energies while in office at the Alliance.”

    About the International Solar Alliance

    The International Solar Alliance is an international organisation with 120 Member and Signatory countries. It works with governments to improve energy access and security worldwide and promote solar power as a sustainable transition to a carbon-neutral future. ISA’s mission is to unlock US$1 trillion of investments in solar by 2030 while reducing the cost of the technology and its financing. It promotes the use of solar energy in the agriculture, health, transport, and power generation sectors.

    ISA Member Countries are driving change by enacting policies and regulations, sharing best practices, agreeing on common standards, and mobilising investments. Through this work, ISA has identified, designed and tested new business models for solar projects; supported governments to make their energy legislation and policies solar-friendly through Ease of Doing Solar analytics and advisory; pooled demand for solar technology from different countries; and drove down costs; improved access to finance by reducing the risks and making the sector more attractive to private investment; increased access to solar training, data and insights for solar engineers and energy policymakers. With advocacy for solar-powered solutions, ISA aims to transform lives, bring clean, reliable, and affordable energy to communities worldwide, fuel sustainable growth, and improve quality of life.

    With the signing and ratification of the ISA Framework Agreement by 15 countries on 6 December 2017, ISA became the first international intergovernmental organisation to be headquartered in India. ISA is partnering with multilateral development banks (MDBs), development financial institutions (DFIs), private and public sector organisations, civil society, and other international institutions to deploy cost-effective and transformational solutions through solar energy, especially in the least Developed Countries (LDCs) and the Small Island Developing States (SIDS).

    ***

    Navin Sreejith

    (Release ID: 2070660) Visitor Counter : 23

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: The International Solar Alliance Hosts the Seventh Session of its Annual Assembly with representatives from 103 Member & 17 Signatory Countries

    Source: Government of India (2)

    Posted On: 04 NOV 2024 5:54PM by PIB Delhi

    The International Solar Alliance (ISA) is hosting the seventh session of its Assembly here in the Indian capital with ministers from 29 countries.

    Speaking at the inaugural ceremony, the Hon’ble Minister for New and Renewable Energy, India, in his capacity as the President of the ISA Assembly, Shri Pralhad Joshi said: “It is my great honour to stand before you today at the Seventh Session of the Assembly of the ISA. Today, we find ourselves at a key turning point in our mission to reshape the global energy future. Solar energy, once just a vision, is now a powerful reality, leading the world toward a cleaner and more sustainable path. The progress we’ve made together is undeniable, and the true potential of solar energy is unfolding, showing us just how transformative it can be.” He further added, “As a coalition of 120 Member and Signatory countries, ISA has been at the forefront of mobilising resources and facilitating the deployment of solar projects worldwide, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS). I’m proud to state that ISA has successfully completed 21 out of 27 demonstration projects, showcasing our collective ability to make significant strides in solar energy deployment and support sustainable development across the globe. These successful projects are a testament to our shared commitment and dedication. I congratulate and dedicate the eleven demonstration projects and the seven STAR- Centres launched today to the people of these countries.”

    The Hon’ble President also highlighted key interventions of ISA, which are globally pushing the solar agenda. The Solar Data Portal, a platform that delivers real-time data on solar resources, project performance, and investment opportunities across countries, transforms how governments, investors, and developers engage with solar projects by providing transparent and actionable insights. The Global Solar Facility aims to unlock commercial capital for solar projects in underserved regions, especially Africa. A pilot project is underway in the Democratic Republic of Congo, and commitments of USD 39 million from India, ISA, Bloomberg, and Children’s Investment Fund Foundation are on track to be operationalised by COP29.

    In addition, the SolarX Startup Challenge has successfully identified and supported innovative, scalable solutions for the solar sector. The 2024 edition announced 30 winners from the Asia and Pacific region, including India, and preparations are underway to host the Third Edition of the challenge for the Latin America and Caribbean region.

    The monthly ISA Knowledge Series and the Green Hydrogen Innovation Centre, launched at the G20 Ministerial, are advancing solar energy research and development to expand knowledge-sharing and advocacy. Global events like the International Solar Festival, CEO Caucus, and the ISA pavilion ‘Solar Hub’ at the Conference of Parties since COP27 have encouraged global participation and advocacy for solar as a preferred energy source.

    The Co-President of the ISA Assembly, H.E. Mr H.E. Thani Mohamed Soilihi, France’s Minister of State for Development, Francophonie and International Partnerships, via a video message, said:

    “I would like to thank the Secretariat of the International Solar Alliance for its significant work in developing the organisation and setting out ambitious programmes year after year. France has honoured its pledge at the outset of the International Solar Alliance to contribute €1.5 billion to finance solar projects in the organisation’s Member Countries. That is why we renewed our financial support for the Alliance in 2024, which is based on three priorities: First, support for the STAR-C programme which plays a key role in local capacity building. Second, France wishes to facilitate access to financing for developing economies which are transitioning towards sustainable development. Third, France wants to step up the ISA Secretariat’s internationalisation process to increase its outreach. France will continue to support the International Solar Alliance, to enhance collaboration and speed up the development of solar energy. It will thus encourage new partner countries to join the Alliance and will synergise with the initiatives and organisations in developing renewable energies.”

    In his welcome address, Dr Ajay Mathur, Director General of the International Solar Alliance, said, “We are pleased to have honourable ministers from our member, signatory, and prospective countries present here today. Our collective presence symbolises our intention—to explore groundbreaking solutions, exchange expertise, and strengthen partnerships that will drive a new era of solar transformation. In this spirit of global cooperation, we find the collective strength to confront the critical challenges of our time. Over the past years, the Assembly has helped shape the ISA into a global leader in the international arena as the definitive voice on driving energy transition through the deployment of solar energy solutions. This year, too, the Assembly shall be taking up some major initiatives and programmes into consideration that will be laying the foundation for the future.”

    The Assembly will also consider the budgets and work plans for the coming year and include updates on ISA’s priority areas of work, programmes, and projects. An important topic of discussion will be the guidelines for the Viability Gap Funding (VGF) Scheme, which provides for 10% to 35 % of the total solar project cost to be given as a grant for developing solar projects in LDCs and SIDS identified by the countries themselves, provided 90% of the project cost is locked in. Proposals from countries will be considered on a first-come, first-served basis until the annual budget provisions of ISA USD 1.5 million per year are available. The VGF can be availed for solar projects set up by government/government institutions or independent developers/beneficiaries selected through a process per the respective country policies.

    This year’s proceedings will also consist of the election of the president and co-president, who will take over office immediately after the Assembly for the period: 2024 – 2026. The selection of the new Director General, who will assume office in March of 2025, will also be announced.

    The Assembly will be followed by a day-long High-Level Technology Conference on Clean Technologies, which will witness the launch of the third edition of ISA’s flagship report series on technology, investment, and market—the World Solar Reports. The Assembly proceedings will culminate on 6 November 2024 with delegates marking a visit to a farm site in NCT of Delhi to witness first-hand the practical implementation of agrivoltaic system, which entails using the same land for solar energy production and agriculture.

    About the ISA Assembly:

    The Assembly is ISA’s yearly apex decision-making body, representing each Member Country. This body makes decisions concerning the implementation of the ISA’s Framework Agreement and coordinated actions to be taken to achieve its objective. The Assembly meets annually at the ministerial level at the ISA’s seat. It assesses the aggregate effect of the programmes and other activities in terms of deployment of solar energy, performance, reliability, cost, and scale of finance. The Sixth Assembly of the ISA is deliberating on the key initiatives of ISA on three critical issues: energy access, energy security, and energy transition.

    About the Demonstration Projects:

    In May 2020, ISA initiated Demonstration Projects to meet the needs of Least Developed Countries (LDCs) and Small Island Development States (SIDS). The aim was to exhibit solar technology applications that can be scaled up and build the capacity of Member Countries to replicate these solar-powered solutions.

    1. Bhutan: Solar cold storage at the National Post Harvest Centre in Paro
    2. Burkina Faso: Solarisation of two primary healthcare centres in the rural communes of Louda and Korsimoro in the north centre region
    3. Cambodia: Solarisation of primary and secondary schools in Koh Rong city
    4. Cuba: Solar water pumping system at the Hatuey Indian Experimental Station (EEIH) in Perico, Matanzas
    5. Djibouti:  Installation of two off-grid solar-powered cold storage units in Omar Jaga’a in the Arta region and Dougoum village in the Tadjourah region
    6. Ethiopia: Solar-powered water pumps in Gedeo Zone, Irgachefe Woreda community
    7. Mauritius: Solarisation of the Jawaharlal Nehru Hospital in Rose Belle
    8. Samoa: Solar streetlights implemented across 46 locations
    9. Senegal: Solar cold storage in the Borough of Ndande, within the Municipality of Theippe in the Kebemer Department
    10. The Gambia: Solar water pumping systems in Wassadou and Julangel
    11. Tonga: Solar water pumping project in four villages on Tongatapu

    About the STAR-Centre Initiative:

    Solar Technology Application Resource-Centre (STAR-C)are equipped with specialised training facilities, tools, and structured learning modules designed to cultivate a highly skilled solar workforce. To date, ISA has successfully established and operationalised STAR Centers in seven countries: Ethiopia, Somalia, Cuba, Côte d’Ivoire, Kiribati, Ghana, and Bangladesh. Since their launch, these centres have trained professionals in various aspects of solar energy, preparing them to contribute effectively to the sector’s rapid expansion.

    About the International Solar Alliance

    The International Solar Alliance is an international organisation with 120 Member and Signatory countries. It works with governments to improve energy access and security worldwide and promote solar power as a sustainable transition to a carbon-neutral future. ISA’s mission is to unlock US$1 trillion of investments in solar by 2030 while reducing the cost of the technology and its financing. It promotes the use of solar energy in the agriculture, health, transport, and power generation sectors.

    ISA Member Countries are driving change by enacting policies and regulations, sharing best practices, agreeing on common standards, and mobilising investments. Through this work, ISA has identified, designed and tested new business models for solar projects; supported governments to make their energy legislation and policies solar-friendly through Ease of Doing Solar analytics and advisory; pooled demand for solar technology from different countries; and drove down costs; improved access to finance by reducing the risks and making the sector more attractive to private investment; increased access to solar training, data and insights for solar engineers and energy policymakers. With advocacy for solar-powered solutions, ISA aims to transform lives, bring clean, reliable, and affordable energy to communities worldwide, fuel sustainable growth, and improve quality of life.

    With the signing and ratification of the ISA Framework Agreement by 15 countries on 6 December 2017, ISA became the first international intergovernmental organisation to be headquartered in India. ISA is partnering with multilateral development banks (MDBs), development financial institutions (DFIs), private and public sector organisations, civil society, and other international institutions to deploy cost-effective and transformational solutions through solar energy, especially in the least Developed Countries (LDCs) and the Small Island Developing States (SIDS).

    Navin Sreejith

    (Release ID: 2070655) Visitor Counter : 57

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: FEMA Assistance Won’t Affect Social Security, Other Federal Benefits Georgians May Receive

    Source: US Federal Emergency Management Agency

    Headline: FEMA Assistance Won’t Affect Social Security, Other Federal Benefits Georgians May Receive

    FEMA Assistance Won’t Affect Social Security, Other Federal Benefits Georgians May Receive

    ATLANTA – Applying for federal disaster assistance from FEMA will not affect other federal benefits that Georgia survivors of Hurricane Helene or Tropical Storm Debby, damage Aug. 4–20, 2024, may receive.Residents in Appling, Atkinson, Bacon, Ben Hill, Berrien, Brantley, Brooks, Bryan, Bulloch, Burke, Butts, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Dodge, Echols, Effingham, Elbert, Emanuel, Evans, Fulton, Glascock, Glynn, Hancock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Long, Lowndes, McDuffie, McIntosh, Montgomery, Newton, Pierce, Rabun, Richmond, Screven, Taliaferro, Tattnall, Telfair, Thomas, Tift, Toombs, Treutlen, Ware, Warren, Washington, Wayne and Wheeler counties who register for disaster assistance with FEMA may have questions about whether  funds from FEMA might cause them to lose other federal payments to which they are entitled.Accepting a FEMA grant will not affect your eligibility for Social Security, Medicare, Medicaid, Supplemental Nutrition Assistance Program (SNAP) benefits and other federal welfare and entitlement programs. In addition, any assistance you receive from FEMA is not considered taxable income. Disaster grants help you pay for temporary housing, essential home repairs, essential personal property replacement and other serious disaster-related needs not covered by your insurance or other sources.“Housing Assistance” covers repairs to the structural parts of your primary residence. This includes windows, doors, floors, walls, ceilings, cabinets, heating, ventilation and air-conditioning systems (HVACs), utilities (electrical, plumbing and gas systems), and entrance/exit ways. FEMA may also reimburse you for repairing or replacing your furnace, well and septic system.“Other Needs Assistance” may reimburse both homeowners and renters for uninsured or underinsured out-of-pocket expenses related to Tropical Storm Debby or Hurricane Helene, such as:Medical and dental expenses; funeral and burial costs; cleaning, or replacement of clothing, household furniture and appliances; specialized tools used for your occupation; childcare, educational materials, moving, storage and other necessary expenses related to the storms.Your personally-owned and registered disaster-damaged cars and trucks may also be eligible for repair or replacement by FEMA.The first step to see if you are eligible for any of FEMA’s Individual Assistance programs is to apply: How To Apply for FEMA Individual AssistanceApply at DisasterAssistance.gov.Visit a FEMA Disaster Recovery Center. To find your nearest Disaster Recovery Center, visit fema.gov/drc.Call FEMA at 800-621-3362. Multilingual operators are available. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA your number for that service.Download and use the FEMA app.FEMA programs are accessible to people with disabilities and others with access and functional needs.To view an accessible video on how to apply, visit Three Ways to Apply for FEMA Disaster Assistance – YouTube.Homeowners, renters, businesses, and nonprofit organizations can apply for long-term, low-interest disaster loans from the U.S. Small Business Administration (SBA) to cover losses not fully compensated by insurance and other sources. Apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at sba.gov/disaster.For the latest information about Georgia’s recovery, visit fema.gov/helene/georgia and fema.gov/disaster/4821. Follow FEMA on X at x.com/femaregion4 or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. Also, follow Administrator Deanne Criswell on Twitter @FEMA_Deanne.
    larissa.hale
    Mon, 11/04/2024 – 20:55

    MIL OSI USA News –

  • MIL-OSI USA: Department of Labor seeks reinstatement, back wages from Pennsylvania manufacturer that allegedly fired worker for raising safety concerns

    Source: US Department of Labor

    YORK, PA – The U.S. Department of Labor has filed suit against a York manufacturing company alleging the company wrongly terminated an employee who raised safety concerns when directed to use a ladder to move stock items when they believed a forklift would be safer.

    Filed in the U.S. District Court for the Middle District of Pennsylvania, the action follows an investigation by the Occupational Safety and Health Administration that determined Red Lion Controls Inc. violated the whistleblower provisions of the Occupational Safety and Health Act by firing the employee for refusing to use a ladder to complete the task. 

    Specifically, the employee reported that they could not maintain the required three points of contact to ensure ladder safety and needed to use a forklift. Investigators also learned the company negated the employee’s concerns and responded that the task could “easily” be done while on a ladder and suggested other employees were able to use a ladder to complete the task. After the employee held firm, the company terminated them. 

    “Every worker deserves a safe workplace and the freedom to report unsafe conditions without the threat of retaliation,” said OSHA Regional Administrator Michael Rivera in Philadelphia. “Employers must understand that retaliation or termination for speaking up about hazards is not only unlawful but undermines the protections meant to keep workers safe.”

    The department’s suit asks the court to hold Red Lion Controls liable for illegal retaliation, and to reinstate them and pay back wages and damages.

    “When employees exercise their right to report unsafe workplace conditions and face any form of retaliation, we will pursue all legal remedies to ensure employees are made whole and employers do not engage in similar conduct in the future,” said Regional Solicitor of Labor Samantha Thomas in Philadelphia.

    A subsidiary of HMS Networks AB, a provider of industrial information and communication technology, Red Lion Controls Inc. serves customers in factory automation, alternative energy, oil and gas, power and utilities, transportation, water and wastewater industries.  

    OSHA’s Whistleblower Protection Program enforces the whistleblower provisions of 25 whistleblower statutes protecting employees from retaliation for reporting violations of various workplace safety and health, airline, commercial motor carrier, consumer product, environmental, financial reform, food safety, health insurance reform, motor vehicle safety, nuclear, pipeline, public transportation agency, railroad, maritime, securities, tax, criminal antitrust, and anti-money laundering laws. For more information on whistleblower protections, visit OSHA’s Whistleblower Protection Programs webpage.

    # # #

    Editor’s note: The U.S. Department of Labor does not release the names of employees involved in whistleblower complaints.

    Media Contact: 

    Leni Fortson, 215-861-5102, uddyback-fortson.lenore@dol.gov

    Release Number:  24-2264-PHI

    MIL OSI USA News –

  • MIL-OSI USA: McKesson Corp. subsidiary to pay $448K in back wages, interest to resolve alleged systemic racial hiring discrimination in Grapevine

    Source: US Department of Labor

    GRAPEVINE, TX – The U.S. Department of Labor’s  Office of Federal Contract Compliance Programs has entered into an agreement with McKesson Medical-Surgical Inc., one of the nation’s largest distributors of medical supplies, to resolve alleged systemic hiring discrimination against nearly 900 Black, Hispanic and white applicants at its Grapevine distribution facility.

    A routine compliance evaluation by the Office of Federal Contract Compliance Programs found the employer’s hiring practices allegedly discriminated against the applicants for associate material handler positions in Grapevine from Sept. 24, 2019, to Sept. 24, 2021, in violation of Executive Order 11246, which prohibits federal contractors from discriminating in employment based on race, color, religion, sex, sexual orientation, gender identity or national origin. OFCCP determined the alleged discrimination affected 472 Black, 226 Hispanic and 186 white applicants. 

    To resolve the allegations, McKesson Medical-Surgical will pay $448,578 in back wages and interest, and make job offers to 32 eligible applicants. The federal contractor will also ensure its hiring procedures do not discriminate and they will train management who oversee hiring decisions. McKesson Medical-Surgical currently has more than $32 million in federal contracts with the U.S. Department of Veterans Affairs.

    “Federal contractors must not engage in discriminatory hiring practices, it is the responsibility of the employer to ensure its selection practices comply with federal law,” said Office of Federal Contract Compliance Programs’ Southwest and Rocky Mountain Regional Director Ronald W. Sullivan II in Dallas.

    McKesson Medical-Surgical Inc. is a subsidiary of the Irving-based McKesson Corp., a global healthcare services provider that partners with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver products and services.

    OFCCP launched the Class Member Locator to identify job applicants and/or workers who have been impacted by OFCCP’s compliance evaluations and complaint investigations and who may be entitled to a portion of monetary relief and/or consideration for job placement. In addition to Executive Order 11246, OFCCP enforces Section 503 of the Rehabilitation Act of 1973, and the Vietnam Era Veterans’ Readjustment Assistance Act of 1974. Together, these laws prohibit employment discrimination by federal contractors.

    MIL OSI USA News –

  • MIL-OSI USA: US Department of Labor recovers $877K in wages, benefits for 36 employees underpaid by contractors on federally funded projects in New York City

    Source: US Department of Labor

    NEW YORK – The U.S. Department of Labor recovered a total of $877,834 in back wages and fringe benefits from three Long Island contractors for 36 employees who were underpaid for their work on two New York projects funded by the U.S. Department of Housing and Urban Development. 

    The New York City Department of Housing Preservation and Development conducted initial investigations of Discover Electric Inc., EMG Industrial Chimney Inc. and QNCC Electrical Contracting Corp., finding each violated the Davis-Bacon and Related Acts. The three subcontractors subsequently appealed the city’s findings.

    After HUD concurred with the original findings, the contractors still refused to pay and HUD referred the findings to the department’s Wage and Hour Division. The division’s independent investigations confirmed the contractors’ DBRA violations as follows:

    • Discover Electric Inc., a Rockville Centre electrical contractor, categorized 11 employees improperly as jobbers, maintenance and repair workers rather than as electricians, paying them less than the required prevailing wages and benefits for electricians. The division determined the employer owed the affected employees $43,984 in wages and $550,321 in fringe benefits. 
    • EMG Industrial Chimney Inc., a West Babylon construction contractor, failed to pay $69,252 in required prevailing wages and fringe benefits to 21 employees categorized improperly as service fitters rather than for their work as insulators and sheet metal workers. 
    • QNCC Electrical Contracting Corp., a Port Washington contractor, failed to pay full fringe benefits to four apprentices, an explicit DBRA requirement when, as here, an applicable apprenticeship program does not specify fringe benefits. The division recovered $214,277 in fringe benefits owed to the affected employees.

    “The Wage and Hour Division works closely with agencies such as the Department of Housing and Urban Development and the New York City Department of Housing Preservation and Development to enforce the Davis-Bacon and Related Acts and ensure that workers are paid full wages and benefits,” explained Wage and Hour Division District Director Jorge Alvarez in New York. “These cases demonstrate that employers cannot circumvent their legal obligations or avoid paying the wages and benefits rightfully due to their employees on federally funded construction projects.”

    All three contractors agreed to comply with the Davis-Bacon Act and Davis-Bacon and Related Acts in all future contracts that are subject to the acts. 

    “Workers deserve fair compensation for their labor,” said U.S. Department of Housing and Urban Development Regional Administrator Alicka Ampry-Samuel in New York. “HUD works closely with federal, state, and local agencies to ensure that companies receiving federal funds comply with Davis-Bacon wage requirements. Everyone deserves to be paid fairly. At a time when we face a housing shortage, it’s crucial to support workers who are helping to expand the supply of affordable housing.” 

    The investigations identified violations by Discover Electric and EMG Industrial Chimney at a 463 West St. worksite and at a QNCC Electrical Contracting Corp. worksite at 10 Monroe St., both in New York City. The division’s New York City District Office conducted the investigations. Learn more about the requirements for federal contractors.

    The Wage and Hour Division has scheduled a series of online seminars in 2024 and 2025 on prevailing wage compliance. Attendance is free but registration is required. To participate, use one of the following links:

    Register for the Nov. 13-14, 2024 seminar

    Register for the June 25-26, 2025, seminar.

    Register for the March 18-19, 2025, seminar.

    Register for the Sept. 24-25, 2025, seminar. 

    Learn more about the Wage and Hour Division and the Davis-Bacon and Related Acts, including a search tool to use if you think you may be owed back wages collected by the division and how to file an online complaint. For confidential compliance assistance, employees and employers can call the agency’s toll-free helpline at 866-4US-WAGE (487-9243), regardless of where they are from. The division can speak with callers in more than 200 languages. 

    Download the agency’s Timesheet App for iOS and Android devices – available in English and Spanish – to ensure hours and pay are accurate.

    MIL OSI USA News –

  • MIL-OSI Security: Freddie “Bankroll Freddie” Gladney, III Sentenced to More Than 12 Years in Federal Prison Following Guilty Verdict at Jury Trial on Firearm and Drug Trafficking Charges

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

          LITTLE ROCK—Freddie “Bankroll Freddie” Gladney, III, will spend the next 150 months in federal prison after being convicted of multiple narcotics offenses, including a firearms offense, which involved a conspiracy to distribute large amounts of marijuana in and around central Arkansas. Jonathan D. Ross, United States Attorney for the Eastern District of Arkansas, announced the sentence, which was handed down today by United States District Judge James M. Moody, Jr.

          Following a four-day trial, Gladney, 30, of Helena, was convicted by a federal jury on April 12, 2024. The jury found Gladney guilty of one count of conspiracy to distribute and possess with intent to distribute marijuana, one count of possession with intent to distribute marijuana, one count of possession of a firearm in furtherance of a drug trafficking crime, and one count of using a telephone in furtherance of a drug trafficking crime.

          In addition to the 150 months’ total imprisonment, which is more than twelve years, Judge Moody sentenced Gladney to three years supervised release. There is no parole in the federal system. Gladney was also ordered to pay a $242,000 money judgment as part of his conviction. 

          Gladney was indicted by a federal grand jury on May 3, 2023, in a 32-count superseding indictment that charged him with numerous offenses related to a conspiracy that was investigated by the Federal Bureau of Investigation (FBI).

          Two FBI operations, each focused on a rival gang, were created to address violence and drug trafficking in the corridor between Pine Bluff and Little Rock. The investigations focused on rival gangs responsible for violence throughout central Arkansas, with one operation focused on the EBK or Every Body Killas gang and resulting in the indictment of 35 defendants.

          An investigation revealed that on April 14, 2022, an Arkansas State Police trooper observed a black truck speeding and conducted a traffic stop in Marion. The trooper noted the odor of marijuana coming from inside the vehicle and asked Gladney to exit the vehicle. Gladney began to exit the vehicle but then reentered and started reaching for something in the vehicle. Because Gladney refused to exit the vehicle, the trooper was forced to remove him.

          During a search of Gladney’s vehicle, law enforcement officers located in the passenger seat near the area where Gladney had been reaching, a Romarm/Cugie Model Micro Draco 7.62x39mm caliber firearm and a Polymer 80 Model PF940C, 9mm privately made firearm (also known as a “ghost gun”). Additionally, during a search of the back seat of the vehicle, law enforcement officers located a duffle bag containing 21.4 pounds of high-grade marijuana and $33,662, which was located in the center console along with seven magazines, five of which were extended and fully loaded.

          At sentencing, Gladney received a 4-level increase for being an organizer or leader of criminal activity that involved five or more participants. Gladney received a 2-level increase in his guideline range for obstruction of justice related to a May 25, 2021, wiretap call in which he instructed a codefendant to remove guns and scales used for weighing illegal drugs from his Helena residence in anticipation that it would be searched by law enforcement. 

    GLADNEY III:           So where, what you got in the house in Helena?

    CODEFENDANT:     I got everything out of there.

    GLADNEY III:           You got everything out of there already?

    CODEFENDANT:     Yeah.

    GLADNEY III:           Scales and everything?

    CODEFENDANT:     Naw, I gotta, gotta, lemme call them. Send em back in to get that. I gotta find out where all they at.

    GLADNEY III:           Scales and shit. Get everything out the house. Any guns, anything.

    CODEFENDANT:     Alright, let me..

    GLADNEY III:           Where that MAK-90 at?

    CODEFENDANT:     It’s not there.

    GLADNEY III:           Alright get everything else out that house before they go search that b***h.

    CODEFENDANT:     Alright.

          Judge Moody cited the ghost gun in increasing Gladney’s sentence 2.5 years above the guidelines range. Judge Moody noted that based on trial testimony, it was apparent that Gladney’s ghost gun, which did not have a back plate, was either ready to receive a “switch,” or had recently had a “switch” on it, that would turn the ghost gun from a semi-automatic firearm to a fully-automatic firearm. Judge Moody also recognized that Gladney was on probation from a drug and gun case in Memphis at the time he was intercepted on the wiretap in this case. 

          This investigation is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

          The investigation was conducted by the FBI with assistance from Arkansas State Police, Arkansas Department of Community Corrections, Little Rock Police Department, North Little Rock Police Department, Pine Bluff Police Department, and Jonesboro Police Department. FBI’s GETROCK Task Force was formed in 2017 in response to the escalation in gang and gun violence in Little Rock. The unit’s investigations and operations are coordinated out of FBI Little Rock’s field office, and GETROCK continues to serve as the clearinghouse for gang-related law enforcement activity in Central Arkansas. Additional support was provided by the Bureau of Alcohol, Tobacco, Firearms, and Explosives; Homeland Security Investigations; United States Postal Inspection Service; Arkansas National Guard Counterdrug Joint Task Force; and the Arkansas State Crime Laboratory. These cases are being prosecuted by Assistant United States Attorneys Julie Peters, Amanda Fields, and Reese Lancaster.

    # # #

    Additional information about the office of the

    United States Attorney for the Eastern District of Arkansas, is available online at

    https://www.justice.gov/edar

    X (formerly known as Twitter):

    @USAO_EDAR 

    MIL Security OSI –

  • MIL-OSI Security: Former Miami-Dade Corrections Officer Pleads Guilty to $150,000 COVID-19 Fraud

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    MIAMI – Yesterday, Daniel Fleureme, 56, of Miami-Dade County, a former Miami-Dade Corrections and Rehabilitation Department (MDCRD) Corrections Officer, pled guilty to wire fraud for defrauding a COVID-19 relief program by fraudulently obtaining an Economic Injury Disaster Loan from the U. S. Small Business Administration (SBA).

    The Coronavirus Aid, Relief and Economic Security (CARES) Act was designed to provide emergency financial assistance to the millions of Americans who were suffering the economic effects caused by the COVID-19 pandemic. One source of relief provided by the CARES Act were Economic Injury Disaster Loans (EIDLs) to eligible small businesses experiencing substantial financial disruptions. These EIDLs were provided directly to borrowers by the SBA.

    On July 27, 2020, Fleureme, while he was employed full-time by MDCRD as a Corrections Officer, submitted to the SBA a false and fraudulent EIDL application claiming to be the 100% owner of a sole proprietorship operating under the company legal and DBA names of “Daniel Fleureme.” In this fraudulent application, Fleureme claimed that he had owned the business since its creation on Feb. 15, 2017, and stated that the business had three employees as of Jan. 31, 2020. Fleureme’s EIDL application also falsely certified that for the 12-month period prior to Jan. 31, 2020, his sole proprietorship had gross revenues of $450,000 and a cost of goods sold of only $97,000. As a result of this fraudulent EIDL application, Fleureme received approximately $150,000 in EIDL proceeds from the SBA.

    He is scheduled to be sentenced on Jan. 7, 2025, at 11:00 a.m., before U.S. District Judge Jose E. Martinez in Miami. Fleureme faces up to 20 years in prison for the wire fraud conviction. The court will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    U.S. Attorney for the Southern District of Florida Markenzy Lapointe and Special Agent in Charge Jeffrey B. Veltri of the FBI, Miami Field Office, Inspector General Felix Jimenez of the Miami-Dade County Office of Inspector General (M-DC OIG), and Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region, made the announcement.

    The FBI’s Miami Area Corruption Task Force, which includes task force officers from the M-DC OIG, working in conjunction with SBA OIG, investigated the case.  Assistant U.S. Attorney Edward N. Stamm is prosecuting the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On Sept. 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud.  The Strike Force combines law enforcement and prosecutorial resources and focuses on large-scale, multistate pandemic relief fraud perpetrated by criminal organizations and transnational actors, as well as those who committed multiple instances of pandemic relief fraud. The Strike Force uses prosecutor-led and data analyst-driven teams to identify and bring to justice those who stole pandemic relief funds. Additional information regarding the Strike Force may be found at https://www.justice.gov/opa/pr/justice-department-announces-covid-19-fraud-strike-force-teams.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-20407.

    ###

    MIL Security OSI –

  • MIL-Evening Report: Ni-Vanuatu journalist Doddy Morris balances grief and duty in the aftermath of earthquake

    By Lagipoiva Cherelle Jackson

    For Doddy Morris, a journalist with the Vanuatu Daily Post, the 7.3 magnitude earthquake that struck Vanuatu last month on December 17, 2024, was more than just a story — it was a personal tragedy.

    Amid the chaos, Morris learned his brother, an Anglican priest, had died.

    “My mom called me crying and asked, ‘Did your brother die?’. I wasn’t sure and told her I was heading to Vila Central Hospital right away,” he recalled.

    Morris arrived at the hospital to confirm the worst. “My heart sank when I confirmed that my brother had indeed passed away. At that moment, I forgot about my job.”

    Doddy’s brother’s coffin . . . Doddy bids him farewell before the casket is flown to their home island. Image: Doddy Morris The New Atoll

    Despite his grief, Morris joined his remaining brothers at the hospital mortuary that night, staying by their deceased sibling’s side and mourning together. “We were the only ones there. We spent the whole night drinking kava outside while he lay in the cool room,” he said.

    The quake — which claimed 14 lives, injured more than 265 people, and displaced more than 1000 — left an indelible mark on Port Vila and its residents. Infrastructure damage was extensive, with schools, homes, and water reserves destroyed, and the Central Business District (CBD) heavily impacted.

    In the days following the earthquake, Morris returned to his role as a reporter, capturing the unfolding crisis despite the emotional toll. “When the earthquake struck, I thought I was going to die myself,” he said. Yet, minutes after the tremor subsided, he grabbed his camera and rushed to the CBD.

    At the heart of the destruction, he witnessed harrowing scenes. “I was shocked to see the collapsed Billabong building. A body lay covered with a blue tarpaulin, and Pro Rescue teams were trying to save others who were trapped inside,” Morris recounted.

    The lack of a network connection frustrated his efforts to report live, but he pressed on, documenting the damage.

    A month after the disaster, Morris continues to cover the aftermath as Vanuatu transitions from emergency response to recovery. “A month has passed since the earthquake, but the memories remain fresh. We don’t know when Port Vila will return to normal,” he said.

    His photojournalism has been demonstrating the true impact of the earthquake as he continues to capture the mourning of a nation after such a tragic event.

    Doddy Morris’ photojournalism . . . demonstrating the true impact of the earthquake as he continues to capture the mourning of a nation after such a tragic event. Image: Vanuatu Daily Post/The New Atoll

    The earthquake left deep scars, not only on the nation’s infrastructure but also on its people. “Unlike cyclones, which we can predict, prepare for, and survive, earthquakes strike without warning and show no mercy,” Morris said.

    Through grief and uncertainty, Morris remains committed to his work, documenting the resilience of his community and the challenges they face as they rebuild. His reporting serves as a testament to the strength of both the people of Vanuatu and a journalist who continues to bear witness, even in the face of personal loss.

    Journalist Doddy Morris . . . reporting on the traumatic events of the earthquake meant confronting his own grief while documenting the grief of others. Image: The New Atoll

    Reporting on his own community while grappling with personal loss is a reality for many Pacific Island journalists who cover disasters. For Doddy Morris, reporting on the traumatic events of the earthquake meant confronting his own grief while documenting the grief of others.

    Dr Lagipoiva Cherelle Jackson is a Pacific journalism trainer with the Dart Center for Journalism and Trauma. She expresses her support for Morris and his colleagues in showing “extraordinary courage and resilience”. This article was first published by The New Atoll and is republished with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Stronghold Digital Mining Sets Third Quarter 2024 Earnings Conference Call for Wednesday, November 13 at 8:30 a.m. Eastern Time

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) — Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, or the “Company”) will host a conference call on Wednesday, November 13 at 8:30 a.m. Eastern Time to discuss its operations and financial results from the third quarter 2024. A press release detailing these results will be issued before the market opens on the same day.

    Stronghold management will provide prepared remarks, followed by a question-and-answer period.

    A live webcast of the call will be available on the Investor Relations page of the Company’s website at ir.strongholddigitalmining.com. To access the call by phone, please use the following link Stronghold Digital Mining Third Quarter 2024 Earnings Call. After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, please register a minimum of 15 minutes before the start of the call.

    A replay will be available on the Company’s Investor Relations website shortly after the event at ir.strongholddigitalmining.com.

    About Stronghold Digital Mining, Inc.
    Stronghold is a vertically integrated Bitcoin mining company with an emphasis on environmentally beneficial operations. Stronghold houses its miners at its wholly owned and operated Scrubgrass Plant and Panther Creek Plant, both of which are low-cost, environmentally beneficial coal refuse power generation facilities in Pennsylvania.

    Investor Contact:

    Matt Glover or Alec Wilson
    Gateway Group, Inc.
    SDIG@gateway-grp.com
    1-949-574-3860

    Media Contact:

    contact@strongholddigitalmining.com

    The MIL Network –

  • MIL-OSI: TeraWulf Announces October 2024 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    Accelerating delivery of 72.5 MW high-performance computing (HPC) hosting capacity by end of Q2 2025

    8.1 EH/s of operational self-mining capacity, up 62% year-over-year

    EASTON, Md., Nov. 04, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today provided its unaudited monthly production and operations update for October 2024.

    October 2024 Production and Operations Highlights

    • Self-Mined Bitcoin: TeraWulf mined 150 bitcoin, with an average daily production rate of approximately 4.8 bitcoin.
    • Operating Capacity: The Company maintained 8.1 EH/s of operational self-mining capacity, reflecting a 62.0% increase year-over-year.
    • Power Cost: Achieved an average power cost of $36,789 per bitcoin mined, equivalent to approximately $0.048/kWh, excluding proceeds from demand response and ancillary services.
    • Miner Refresh Program: The miner refresh at Lake Mariner progressed with the replacement of older S19 Pro/J-Pro and M30s+ models with approximately 12,200 S19 XP miners received in connection with sale of the Company’s interest in the Nautilus Cryptomine facility.
    Key Metrics1 October 2024 September 2024
    Bitcoin Self-Mined Lake Mariner   150   140
    Bitcoin Self-Mined Nautilus2   —   36
    Value per Bitcoin Self-Mined3 $ 65,427 $ 60,168
    Power Cost per Bitcoin Self-Mined $ 36,789 $ 35,109
    Avg. Operating Hash Rate (EH/s)4   6.8   8.2
    Nameplate Miner Efficiency (J/TH)5   22.0   24.6

    Management Commentary

    “October marked another productive month, with TeraWulf mining 150 bitcoin and sustaining an average daily production of around 5 bitcoin,” said Sean Farrell, Senior Vice President of Operations at TeraWulf. “In line with our previously outlined plans, we are accelerating the transition to more efficient mining hardware by replacing older miners at Lake Mariner with S19 XP models. We are also working closely with Bitmain’s warranty department on a recovery plan to repair and replace 1.5 EH of mining equipment with a target completion by the end of the year. Furthermore, we have established a dedicated Business Development and Performance Optimization team, focused on integrating advanced IT and software solutions to improve our operational hash rate and overall efficiency. Building 5, which has been designed to handle higher heat exhaust of the latest generation miners, remains on track to be operational in Q1 2025.”

    Farrell added, “The proceeds from our recent sale of equity interest in Nautilus and successful convertible notes financing have positioned us to fast-track the expansion of our HPC and AI initiatives at Lake Mariner. We are targeting the delivery of 72.5 MW of HPC hosting capacity by the end of Q2 2025, which will allow us to meet the growing demand for high-performance computing solutions.”

    Production and Operations Update

    As of October 31, 2024, TeraWulf’s operational bitcoin mining capacity included 195 MW at the Lake Mariner facility. With the reinstallation of XP miners from Nautilus underway, the Company expects its total self-mining hash rate to increase to approximately 8.7 EH/s.

    In October, the Company’s miners operated at an average hash rate of 6.8 EH/s, with adjustments made for demand response events and performance optimization strategies to maximize profitability.

    On the WULF Compute front, TeraWulf continues its rapid progress in large-scale HPC hosting infrastructure at Lake Mariner. Notable progress includes the recent completion of a 2.5 MW HPC/AI proof-of-concept project designed to accommodate current and next-gen GPU technology. Additionally, construction of CB-1, a 20 MW HPC hosting facility with Tier 3-grade redundancy features, is on schedule for completion in Q1 2025. Preparations for CB-2, a 50 MW HPC hosting facility, are also progressing as key components have already been secured, ensuring timely delivery by the end of Q2 2025.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and high-performance computing. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including nuclear and hydroelectric power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com

    Media:
    media@terawulf.com

    1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indicators of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
    2 The Company sold its 25% equity interest in the Nautilus Cryptomine facility effective October 2, 2024.
    3 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
    4 While nameplate mining inventory as of October 31, 2024 for Lake Mariner is estimated at 8.1 EH/s, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS due to adverse weather and ASIC maintenance and repair. Performance in October is especially impacted by miner fleet upgrade work.
    5 Nameplate miner efficiency excludes auxiliary load.

    The MIL Network –

  • MIL-OSI: Phunware to Report Third Quarter 2024 Financial Results on Thursday, November 7, 2024

    Source: GlobeNewswire (MIL-OSI)

    Management to Host Business Update Conference Call on Thursday, November 7, 2024 at 4:30 p.m. ET

    AUSTIN, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) — Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, announces it will report third quarter 2024 financial results after the U.S. financial markets close on Thursday, November 7, 2024 and will host a live conference call at 4:30 p.m. ET to discuss the results, recent leadership changes, ongoing initiatives and upcoming milestones. Following management’s formal remarks, there will be a question-and-answer session.

    To listen to the conference call, interested parties within the U.S. should dial 1-888-506-0062 (domestic) or 973-528-0011 (international). All callers should dial in approximately 10 minutes prior to the scheduled start time and use Participant Access Code 704558 to be joined into the Phunware conference call.

    The conference call will also be available through a live webcast that can be accessed at Phunware 3Q24 Earnings Webcast. A webcast earnings call replay will be available approximately one hour after the live call until November 7, 2025 with this same weblink.

    A telephonic replay of the call will be available until November 21, 2024 by dialing 1-877-481-4010 (or 919-882-2331 for international callers) and using replay access code 51482.

    About Phunware

    Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.

    Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, digital asset holders, and market participants. Phunware is poised to expand its software products and services audience through its new platform, utilize and monetize its patents and other intellectual property, and reintroduce its digital asset ecosystem for existing holders and new market participants.

    For more information on Phunware, please visit www.phunware.com. To better understand and leverage generative AI and Phunware’s mobile app technologies, visit https://ai.phunware.com/advocacy.

    Safe Harbor / Forward-Looking Statements

    This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions are intended to identify forward-looking statements. For example, Phunware is using forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.

    The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. These forward-looking statements involve risks, uncertainties, and other assumptions that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC. We undertake no obligation to update any forward-looking statements.

    By their nature, forward-looking statements involve risks and uncertainties. We caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those expressed or implied by these forward-looking statements.

    Investor Relations Contact:

    Chris Tyson, Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    PHUN@mzgroup.us
    www.mzgroup.us

    Phunware Media Contact:

    Joe McGurk, Managing Director
    917-259-6895
    PHUN@mzgroup.us

    The MIL Network –

  • MIL-OSI: Bleichroeder Acquisition Corp. I Completes $250,000,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, Nov. 04, 2024 (GLOBE NEWSWIRE) — Bleichroeder Acquisition Corp. I (the “Company”) announced today the closing of its initial public offering of 25,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000.

    The Company’s units began trading on November 1, 2024 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “BACQU.” Each unit consists of one Class A ordinary share of the Company and one right to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of the Company’s initial business combination. Once the securities constituting the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols “BACQ” and “BACQR,” respectively.

    Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $250,000,000 (or $10.00 per unit sold in the offering) was placed in a trust account of the Company.

    The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry. The Company’s primary focus, however, will be on businesses in the technology, media and telecommunications (“TMT”) sector as well as sectors that are being transformed via technology adoption. The Company’s management team is led by its Co-Founders, Michel Combes and Andrew Gundlach, and Robert Folino, its Chief Financial Officer. The Board also includes Nazim Cetin, Joseph Samuels, Kathy Savitt, Antoine Theysset, and Pierre Weinstein.

    Cohen & Company Capital Markets acted as lead book-running manager for the offering. Seaport Global Securities acted as co-book runner.

    The offering was made by means of a prospectus. Copies of the prospectus may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com.

    A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 31, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact:

    Bleichroeder Acquisition Corp. I
    1345 Avenue of the Americas, 47th Floor
    New York, NY 10105
    Attn: Robert Folino
    (o) 212.984.3835
    robert.folino@bspac1.com

    The MIL Network –

  • MIL-OSI: Christopher Campise Named Chief Information Officer of Five Star Bank

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., Nov. 04, 2024 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank (“Five Star” or the “Bank”) and Courier Capital, LLC, announced that Christopher Campise has joined as Senior Vice President, Chief Information Officer of the Bank.

    In this role, Mr. Campise will lead the development and implementation of the Bank’s technology strategies, systems, and processes, while further enhancing the information technology infrastructure to support the organization’s long-term objectives. Mr. Campise will report to W. Jack Plants II, Executive Vice President, Chief Financial Officer and Treasurer.

    “Chris brings tremendous experience to Five Star Bank in terms of his proven ability to lead and execute IT strategy that advances business goals and objectives,” said Mr. Plants. “His varied experience, including in other highly regulated industries, will serve him well here and we are pleased to be benefitting from his fresh perspective and results-driven approach.”

    Mr. Campise joins Five Star from Delaware North Companies, where he served as Senior Director of Enterprise Architecture since 2021. Prior to that, Chris helped lead enterprise architecture during his seven year tenure at Highmark Blue Cross Blue Shield and spent nine years with the University at Buffalo. Earlier in his career, he worked at several Wester New York technology and software companies.

    Mr. Campise, who is based at Five Star Bank Centre in Amherst, N.Y., previously served as a board member of Habitat for Humanity Buffalo and the Gartner Advisory Board. He is also a past volunteer with Mission: Ignite and InfoTech WNY. Mr. Campise earned his B.S. in Computer Science from Canisius College.

    About Financial Institutions, Inc. and Five Star Bank
    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.2 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    For additional information contact:
    Kate Croft
    Director, Investor and External Relations
    716-817-5159
    klcroft@five-starbank.com

    The MIL Network –

  • MIL-OSI: First Pacific Bancorp Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    WHITTIER, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) — First Pacific Bancorp (the “Company”) (OTC Pink: FPBC), the holding company for First Pacific Bank (the “Bank”), today reported consolidated results for the third quarter ending September 30, 2024, underscored by the sixth consecutive quarter of profitability.

    Highlights for the third quarter of 2024 include:

    • Total assets ended Q3 2024 at $434 million, up $14 million from $420 million at year end 2023.
    • Total deposits ended the third quarter of 2024 at $342 million, up $9 million since year end 2023.
    • Total loans ended the third quarter of 2024 at $268 million, down $7 million from year end 2023.
    • Asset quality remains excellent with minimal levels of classified or non-performing assets.
    • The Bank ended the third quarter with a strong capital position, with a leverage capital ratio of 8.8% and a total risk-based capital ratio of 12.8%.
    • As of September 30, 2024, cash and cash equivalents totaled $49 million, including funds invested overnight, up $27 million since year end 2023.
    • Unused borrowing capacity from credit facilities in place on September 30, 2024, totaled $143 million.

    For the third quarter ending September 30, 2024, the Company realized a pre-tax, pre-provision profit of $345 thousand, compared to a pre-tax, pre-provision profit of $272 thousand in Q2 2024. Net income for the third quarter of 2024 was $249 thousand, up from $198 thousand in Q2 2024. For the nine months ending September 30, 2024, the Company reported $608 thousand in net income, up from a net loss of $219 thousand reported for the nine months ending September 30, 2023.     

    Asset quality remains excellent with minimal non-performing assets and the allowance for credit losses is 1.16% of total loans.  

    “We are encouraged by our results, as evidenced by six consecutive quarters of profitability,” said Joe Matranga, Chairman of the Board of Directors. “We continue to maintain a solid capital, liquidity, and financial standing and are well-positioned to execute our strategy and deliver sustainable, long-term value for our stakeholders.”

    “Our third-quarter results reflect a strong and consistent period of profitability, driven by increased core deposit growth, stable credit quality, and a disciplined approach to expense management,” said Nathan Rogge, President and Chief Executive Officer. “We are pleased with our performance and continue to look for opportunities to expand our customer base through strategic investments in technology and innovation that aim to enhance the customer experience.”

    ABOUT FIRST PACIFIC BANK

    First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTC Pink: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. Since opening in 2006, the Bank has offered a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

    FORWARD-LOOKING STATEMENTS

    This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and First Pacific Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely. Forward-looking statements relate to, among other things, our business plan, and strategies, and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and similar expressions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Factors that might cause such differences include, but are not limited to: successfully realizing the benefits of our business strategy and plans,; changes in general economic and financial market conditions, either nationally or locally, in areas in which First Pacific Bank conducts its operations; effects of inflation and changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; impact of any natural disasters, including earthquakes; effect of governmental supervision and regulation, including any regulatory or other enforcement actions; legislation or regulatory changes which adversely affect First Pacific Bank’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events, or circumstances after the date of such statements except as required by law.  

    Contacts

    — Summary Financial Tables Follow —

    First Pacific Bancorp          
    Consolidated Balance Sheets          
    (Unaudited)          
      Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023
    ASSETS          
    Cash and due from banks $ 23,584,084   $ 4,671,483   $ 7,317,500   $ 4,308,149   $ 4,240,871  
    Fed funds sold & int-bearing balances   25,520,000     37,860,000     37,575,000     18,060,000     20,410,000  
    Total cash and cash equivalents   49,104,084     42,531,483     44,892,500     22,368,149     24,650,871  
               
    Debt securities (AFS)   3,041,852     3,077,666     5,138,340     5,257,049     5,266,653  
    Debt securities (HTM)   101,260,391     102,202,926     103,474,749     104,343,133     105,447,814  
    Total debt securities   104,302,243     105,280,592     108,613,089     109,600,182     110,714,467  
               
    Construction & land development   23,067,204     24,651,513     25,480,398     27,070,749     24,721,763  
    1-4 Family residential   58,082,570     68,588,393     68,521,663     66,567,165     64,925,441  
    Multifamily residential   28,966,811     26,800,829     26,947,419     27,128,177     28,484,194  
    Nonfarm, nonresidential real estate   99,715,860     94,643,169     97,893,840     99,627,812     99,859,450  
    Commercial & industrial   57,342,017     53,504,969     54,785,564     53,938,659     55,374,111  
    Consumer & Other   780,639     1,831,036     1,123,918     865,849     569,736  
    Total loans   267,955,101     270,019,909     274,752,802     275,198,411     273,934,695  
    Allowance for loan losses   (3,109,975 )   (3,109,975 )   (3,109,975 )   (3,109,975 )   (2,974,427 )
    Total loans, net   264,845,126     266,909,934     271,642,827     272,088,436     270,960,268  
               
    Premises, equipment, and ROU net   1,452,886     1,714,833     1,992,588     2,268,671     1,850,187  
    Goodwill, core deposit & other intangibles   1,287,129     1,298,084     1,313,367     1,328,651     1,343,934  
    Bank owned life insurance   5,257,550     5,227,763     5,198,654     5,170,521     5,142,322  
    Accrued interest and other assets   7,505,380     7,476,554     7,415,609     7,392,301     7,616,948  
               
    Total Assets $ 433,754,398   $ 430,439,243   $ 441,068,634   $ 420,216,911   $ 422,278,997  
               
    LIABILITIES AND SHAREHOLDERS’ EQUITY          
    Deposits:          
    Noninterest-bearing demand $ 129,473,091   $ 144,240,187   $ 133,945,262   $ 121,348,095   $ 130,982,957  
    Interest-bearing transaction accounts   24,660,000     24,797,108     28,166,207     34,716,150     47,304,776  
    Money market and savings   143,270,628     143,497,864     148,732,230     139,011,862     131,505,430  
    Time deposits   44,388,137     41,060,590     38,662,227     38,235,413     22,504,646  
    Total deposits   341,791,856     353,595,749     349,505,926     333,311,520     332,297,809  
               
    Borrowings   50,000,000     35,000,000     50,000,000     45,000,000     50,000,000  
    Accrued interest and other liabilities   3,430,132     3,781,444     3,936,909     4,530,208     2,934,831  
    Total liabilities   395,221,988     392,377,193     403,442,835     382,841,728     385,232,640  
               
    Shareholders’ Equity:          
    Capital stock and APIC   37,117,627     36,970,386     36,788,606     36,699,786     36,508,987  
    Retained earnings   2,151,305     1,902,788     1,705,174     1,543,264     1,487,800  
    Accum other comprehensive income   (736,522 )   (811,124 )   (867,981 )   (867,867 )   (950,430 )
    Total shareholders’ equity   38,532,410     38,062,050     37,625,799     37,375,183     37,046,357  
               
    Total Liabilities and Shareholders’ Equity $ 433,754,398   $ 430,439,243   $ 441,068,634   $ 420,216,911   $ 422,278,997  
               
    First Pacific Bancorp          
    Consolidated Income Statements – Quarterly          
    (Unaudited)          
               
      Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023
    INTEREST INCOME          
    Loans, including fees $4,817,174 $4,655,844 $4,700,535 $4,653,303   $4,458,616  
    Debt securities 499,268 514,613 543,857 544,330   585,047  
    Fed funds & int-bearing balances 450,166 573,022 410,685 258,178   271,266  
    Total interest income 5,766,608 5,743,479 5,655,077 5,455,811   5,314,929  
               
    INTEREST EXPENSE          
    Deposits 1,790,578 1,687,121 1,746,032 1,542,541   1,408,092  
    Borrowings 444,250 524,599 507,390 705,324   567,115  
    Total interest expense 2,234,828 2,211,720 2,253,422 2,247,865   1,975,207  
               
    Net interest income 3,531,780 3,531,759 3,401,655 3,207,946   3,339,722  
               
    Provision for credit losses – – – 101,538   191,428  
               
    Net interest income after provision 3,531,780 3,531,759 3,401,655 3,106,408   3,148,294  
               
    NONINTEREST INCOME          
    Service charges, fees and other income 106,628 96,460 108,365 108,769   122,367  
    Sublease income 53,975 52,970 53,872 53,872   53,384  
    Gains (losses) on sale of assets 15,335 – – (12,982 ) 101,844  
    Gains on early payoff of debt – 144,325 – –   123,077  
    Total noninterest income 175,938 293,755 162,237 149,659   400,672  
               
    NONINTEREST EXPENSE          
    Salaries and benefits 2,154,290 2,182,674 2,178,486 1,954,029   2,311,113  
    Occupancy and equipment 374,069 363,695 368,816 384,088   377,795  
    Other expense 834,281 1,007,247 794,158 894,440   823,677  
    Total noninterest expense 3,362,640 3,553,616 3,341,460 3,232,557   3,512,585  
               
    Income before income tax expense 345,078 271,898 222,432 23,510   36,381  
               
    Income tax expense (benefit) 96,563 74,281 60,524 (31,955 ) (15,550 )
               
    Net Income (Loss) $248,515 $197,617 $161,908 $55,465   $51,931  
               
    Earnings per share basic (QTR) $0.06 $0.05 $0.04 $0.01   $0.01  
    Weighted average shares outstanding (QTR) 4,288,851 4,283,351 4,281,653 4,231,841   4,174,529  
               
    First Pacific Bancorp    
    Consolidated Income Statements – Year-to-Date    
    (Unaudited)    
         
      Sep 30, 2024 Sep 30, 2023
    INTEREST INCOME    
    Loans, including fees $14,173,553 $12,051,909  
    Investment securities 1,557,738 1,735,019  
    Fed funds & int-bearing balances 1,433,873 742,649  
    Total interest income 17,165,164 14,529,577  
         
    INTEREST EXPENSE    
    Deposits 5,223,731 3,201,945  
    Borrowings 1,476,239 1,735,403  
    Total interest expense 6,699,970 4,937,348  
         
    Net interest income 10,465,194 9,592,229  
         
    Provision for credit losses – 804,428  
         
    Net interest income after provision 10,465,194 8,787,801  
         
    NONINTEREST INCOME    
    Service charges, fees and other income 311,453 347,054  
    Sublease income 160,817 158,202  
    Gains (losses) on sale of assets 15,335 142,075  
    Gains on early payoff of debt 144,325 123,077  
    Total noninterest income 631,930 770,408  
         
    NON INTEREST EXPENSE    
    Salaries and benefits 6,515,450 6,604,574  
    Occupancy and equipment 1,106,580 1,086,189  
    Other expense 2,635,686 2,230,137  
    Total noninterest expense 10,257,716 9,920,900  
         
    Income before income tax expense 839,408 (362,691 )
         
    Income tax expense (benefit) 231,368 (143,307 )
         
    Net Income (loss) $608,040 ($219,384 )
         
    Earnings (loss) per share basic (YTD) $0.14 ($0.06 )
    Weighted average shares outstanding (YTD) 4,284,634 3,912,161  
    First Pacific Bancorp            
    Quarterly Financial Highlights            
    (Unaudited)            
        Quarterly
        2024 2024 2024 2023 2023
    ($$ in thousands except per share data)   3rd Qtr 2nd Qtr 1st Qtr 4th Qtr 3rd Qtr
    EARNINGS            
    Net interest income $ 3,532   3,532   3,402   3,208   3,340  
    Provision for loan losses $ 0   0   0   102   191  
    Noninterest income $ 176   294   162   150   401  
    Noninterest expense $ 3,363   3,554   3,341   3,233   3,513  
    Income tax expense $ 97   74   61   (32 ) (16 )
    Net income $ 249   198   162   55   52  
                 
    Basic earnings per share $ 0.06   0.05   0.04   0.01   0.01  
    Weighted average shares outstanding   4,288,851   4,283,351   4,281,653   4,231,841   4,174,529  
    Ending shares outstanding   4,291,927   4,283,351   4,283,351   4,231,841   4,231,841  
                 
    PERFORMANCE RATIOS            
    Return on average assets   0.23 % 0.18 % 0.15 % 0.05 % 0.05 %
    Return on average common equity   2.58 % 2.10 % 1.73 % 0.59 % 0.56 %
    Yield on loans   6.98 % 6.97 % 6.84 % 6.69 % 6.60 %
    Yield on earning assets   5.58 % 5.52 % 5.49 % 5.35 % 5.26 %
    Cost of deposits   2.05 % 1.96 % 2.05 % 1.89 % 1.70 %
    Cost of funding   2.32 % 2.28 % 2.35 % 2.37 % 2.09 %
    Net interest margin   3.42 % 3.40 % 3.31 % 3.15 % 3.30 %
    Efficiency ratio   90.7 % 92.9 % 93.8 % 96.3 % 93.9 %
                 
    CAPITAL            
    Tangible equity to tangible assets   8.61 % 8.57 % 8.26 % 8.61 % 8.48 %
    Book value (BV) per common share $ 8.98   8.89   8.78   8.83   8.75  
    Tangible BV per common share $ 8.68   8.58   8.48   8.52   8.44  
                 
    ASSET QUALITY            
    Net loan charge-offs (recoveries) $ 0   0   0   0   0  
    Allowance for loan losses (ALLL) $ 3,110   3,110   3,110   3,110   2,974  
    ALLL to total loans   1.16 % 1.15 % 1.13 % 1.13 % 1.09 %
    Nonperforming loans $ 991   77   160   61   0  
                 
    END OF PERIOD BALANCES            
    Total loans $ 267,955   270,020   274,753   275,198   273,935  
    Total assets $ 433,754   430,439   441,069   420,217   422,279  
    Deposits $ 341,792   353,596   349,506   333,312   332,298  
    Loans to deposits   78.4 % 76.4 % 78.6 % 82.6 % 82.4 %
    Shareholders’ equity $ 38,532   38,062   37,626   37,375   37,046  
    Full-time equivalent employees   44   44   46   45   44  
                 
    AVERAGE BALANCES (QTRLY)            
    Total loans $ 273,960   267,766   275,578   276,016   268,186  
    Earning assets $ 410,298   416,965   412,791   404,210   400,993  
    Total assets $ 424,199   430,830   426,592   417,595   414,457  
    Deposits $ 346,142   346,032   341,226   323,300   329,121  
    Shareholders’ equity $ 38,267   37,788   37,443   37,179   36,469  

    The MIL Network –

  • MIL-OSI: Petrus Resources Declares Monthly Dividend for November 2024

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Nov. 04, 2024 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to confirm that its Board of Directors has declared a monthly dividend in the amount of $0.01 per share payable November 29, 2024, to shareholders of record on November 15, 2024. The dividend is designated as an eligible dividend for Canadian income tax purposes.

    ABOUT PETRUS
    Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta.

    FOR FURTHER INFORMATION PLEASE CONTACT:
    Ken Gray
    President and Chief Executive Officer
    T: 403-930-0889
    E: kgray@petrusresources.com

    The MIL Network –

  • MIL-OSI: Diversified Royalty Corp. Announces November 2024 Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” or “DIV”) is pleased to announce that its board of directors has approved a cash dividend of $0.02083 per common share for the period of November 1, 2024 to November 30, 2024, which is equal to $0.25 per common share on an annualized basis. The dividend will be paid on November 29, 2024 to shareholders of record as of the close of business on November 15, 2024.

    About Diversified Royalty Corp.

    DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

    DIV currently owns the Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions and BarBurrito trademarks. Mr. Lube + Tires is the leading quick lube service business in Canada, with locations across Canada. AIR MILES® is Canada’s largest coalition loyalty program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is a home care provider with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchisee supplemental education services. Stratus Building Solutions is a leading commercial cleaning service franchise company providing comprehensive janitorial, building cleaning, and office cleaning services primarily in the United States. BarBurrito is the largest quick service Mexican restaurant food chain in Canada.

    DIV’s objective is to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV intends to continue to pay a predictable and stable monthly dividend to shareholders and increase the dividend over time, in each case as cash flow per share allows.

    Forward Looking Statements

    Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate,” “continue,” “estimate,” “expect,” “intend,” “may,” “will,” ”project,” “should,” “believe,” “confident,” “plan” and “intends” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information in this news release includes, but is not limited to, statements made in relation to: the amount and timing of the November 2024 dividend to be paid to DIV’s shareholders; DIV’s objective to continue to pay predictable and stable monthly dividends to shareholders; and DIV’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of DIV to differ materially from those anticipated or implied by such forward-looking information. DIV believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that: DIV will be able to make monthly dividend payments to the holders of its common shares; or DIV will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release are not guarantees of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting DIV’s business and the businesses of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form dated March 21, 2024 and in its most recent Management’s Discussion and Analysis, copies of each of which are available under DIV’s profile on SEDAR+ at www.sedarplus.com.

    In formulating the forward-looking information contained herein, management has assumed that, among other things, DIV will generate sufficient cash flows from its royalties to service its debt and pay dividends to shareholders; the business and economic conditions affecting DIV and its royalty partners will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

    All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, DIV. The forward-looking information included in this news release is presented as of the date of this news release and DIV assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

    Additional Information

    Additional information relating to the Corporation and other public filings, is available on SEDAR+ at www.sedarplus.com.

    Contact:
    Sean Morrison, President and Chief Executive Officer
    Diversified Royalty Corp.
    (236) 521-8470

    Greg Gutmanis, Chief Financial Officer and VP Acquisitions
    Diversified Royalty Corp.
    (236) 521-8471

    The MIL Network –

  • MIL-OSI New Zealand: Bluey set to steal hearts this Farmers Santa Parade, supported by the city centre’s newest elves

    Source: Auckland Council

    Two symbolic characters at the centre of Auckland’s historic Farmers Santa Parade are turning out for the 91st time, delighting families who will fill the footpaths on Sunday 24 November (rain day 1 December).

    The parade may have become bigger and brighter in 91 years, but the philosophy introduced by Farmers founder Robert Laidlaw in 1933 remains the same – a gift of fantasy and fanfare for the children of Auckland.

    The star of the show is always Santa himself, but Queen Street has also been a constant presence throughout 91 years in the life of this legendary parade, believed to be one of the most enduring in the southern hemisphere.

    Santa and his reindeer.

    Queen Street has evolved over the decades. Once it was a four-lane street with narrow footpaths on either side. Now it is a two-lane, plant-filled boulevard hosting a more intimate festive parade.

    But the character expected to rival even the longest-serving players is favourite television pup Bluey, who is joining Auckland’s Farmers Santa Parade for the first time. Fans will see the much-adored Bluey in person on her own float in the parade. Bluey and Bingo will later bring their live interactive experience to Santa’s Party at the close of the parade.

    Bluey and Bingo on stage.

    Deputy Mayor of Auckland, Desley Simpson, will also participate in the parade.

    “Every year, the Farmers Santa Parade brings the centre of Auckland to life, filling our city with joy, wonder, and community spirit. It’s a time for families, friends and whānau to come together and welcome the magic of the season.

    “This parade is more than an event; it’s a beautiful reminder of the unity and vibrancy that define our Auckland community,” Councillor Simpson says.

    A new entrant in the parade this year will be the city centre’s newest elves – a team of community wardens who cast a watchful eye over city centre streets and spaces every day and night. The wardens are from the Auckland Council Community Safety Team, New Zealand Police, Māori wardens, Community Patrols NZ and Auckland Transport.

    They will decorate their uniforms with Christmas tinsel for the occasion and walk with their families, accompanying Deputy Mayor Desley Simpson who graces the parade every year waving to the crowds from a vintage car.

    After representing New Zealand at the 2024 Olympics, gold medal winning high jumper Hamish Kerr will open the parade as this year’s official grand marshal, leading the vibrant and colourful procession of festive floats.

    One float will be constructed entirely of LEGO®, another inspired by K-pop in the shape of a giant pink guitar, and crowds will also witness a Kiwiana caravan float that encapsulates the essence of a Kiwi summer.

    Additional funds have been made available this year from Auckland Council and the city centre targeted rate, helping bring the delight of the Farmers Santa Parade to the city centre.

    Key moments to plan for:

    The Farmers Santa Parade attracts around 150,000 spectators, 4,000 participants and over 200 items of Christmas magic over a 1.6km route.

    Learn more about the 2024 parade here.

    Transport options will be available additionally here. 

    [embedded content]

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Meal timing may be crucial for night shift workers’ health

    Source: University of South Australia

    05 November 2024

    A new Australian study published in Diabetologia this week has found that overnight eating may be putting night shift workers at higher risk of chronic health conditions.

    Led by researchers from the University of South Australia, University of Adelaide and SAHMRI, the NHMRC-funded study involved a six-day trial with 55 adults in the healthy BMI range, who don’t usually work night shifts.

    Participants stayed at the University of South Australia’s Behaviour-Brain-Body Sleep Research Centre and were divided into three groups: those who fasted at night, those who had snacks, and those who ate full meals.

    All participants stayed awake for four nights and slept during the day, with a recovery day on day five to re-establish normal sleeping and eating cycles, and blood glucose testing on day six.

    Prof Leonie Heilbronn, from SAHMRI and the University of Adelaide, says results showed participants who ate meals or snacks during the nightshift had significantly worse glucose tolerance compared to those who fasted.

     “We found that blood glucose skyrocketed for those who ate full meals at night and those who snacked, while the people who fasted at night showed an increase in insulin secretion which kept blood sugar levels balanced,” Prof Heilbronn says.

    “We know shift workers are more likely to have diabetes, they’re more likely to have heart disease, and they’re more likely to be overweight. Our research suggests that meal timing could be a major contributor to those issues.”

    Insulin sensitivity was disrupted among all participants, regardless of their eating habits, adding to the body of evidence that night shifts cause circadian misalignment and impair glucose metabolism.

    “When you eat a meal, your body secretes insulin, and that insulin helps your muscles and other tissues to take up glucose. If you become resistant to insulin, then you can’t take up that glucose as effectively into your muscles and if it continues, that potentially puts you at risk of diabetes.”

    Lead investigator UniSA Professor Siobhan Banks says not eating large meals while working night shift and instead eating primarily during the day could be a straightforward intervention to manage health outcomes for many workers.

    “This could be easier for people to follow than other, more complex diets,” Prof Banks says.

    Researchers say future trials will investigate whether eating only protein snacks on night shift is a potential solution to satiating hunger without predisposing workers to negative health consequences.

    …………………………………………………………………………………………………………………………

    Media contact: Candy Gibson M: +61 434 605 142 E: candy.gibson@unisa.edu.au

    Researcher contacts: Professor Siobhan Banks E: siobhan.banks@unisa.edu.au; Professor Leonie Heilbronn E: leonie.heilbronn@adelaide.edu.au

    Other articles you may be interested in

    MIL OSI News –

  • MIL-OSI New Zealand: Tech and Security – Liverton Security Launches New Cyber Security Consulting Division in Wellington

    Source: Liverton Security

    Liverton Security is proud to announce the launch of its new Cyber Security Consulting Division in Wellington, a strategic move to enhance its comprehensive suite of security solutions for businesses and organisations across New Zealand and beyond. 
    This new division will be spearheaded by General Manager Murray Wills, who brings a wealth of experience and expertise to the role. Skilled in providing innovative solutions for complex challenges within the global cyber security industry, Murray will provide top-tier consulting solutions for the organisations’ clients. 
    Key services that Liverton Security will provide for its clients include: risk and security testing and assurance, vulnerability assessments and penetration testing, security governance, risk and compliance advice, privacy guidance, and cyber security education and guidance. 
    Founded over 20 years ago, Liverton Security has grown to become a respected leader in the global cyber security community thanks to its proven track record of delivering complex, high-quality security solutions for its clients. Liverton Security has a wide offering of innovative products, including SHIFT, MailAdviser, SEEMail, SmartGate, and DNS services. 
    With offices in Wellington and London, the company is well poised to meet the needs of its clients locally in New Zealand and internationally in the UK.   
    Richard Bourne, CEO of Liverton Security, expressed his enthusiasm for this latest expansion: “The establishment of our Cyber Security Consulting Division marks a significant milestone for Liverton Security. Under Murray’s leadership, we are confident that this division will provide unparalleled security consulting services to our clients.” 
    Murray Wills, General Manager of Liverton Security, shared his vision for the new division: “I am thrilled to lead this new initiative at Liverton Security. Our goal is to provide top-tier consulting services that address the ever-evolving cyber threats faced by organisations today. The new division will undertake risk and security assignments on behalf of clients. By leveraging our extensive expertise, we aim to provide our clients with robust and resilient security solutions.”
    Murray has identified three challenges that clients are most likely to face this year, which include meeting requirements for privacy compliance, increased threats from cyber security and AI driven attacks, all of which Liverton Security is well placed to assist with. By helping their customers to better understand their current and evolving risks they help to ensure that their security systems are as robust as possible. 
    Liverton Security’s success is driven by a dedicated team of security-focused developers, systems engineers, consultants, and support staff. This hand-picked team is committed to developing world-class cyber security solutions and providing exceptional service to clients. Their collective expertise and relentless pursuit of innovation ensure that Liverton Security remains at the forefront of the industry.
    About Liverton Security: Liverton Security is a leading provider of advanced security solutions, dedicated to protecting organisations from evolving cyber threats. With a strong presence in New Zealand and the UK, Liverton Security offers a range of products and services designed to meet the highest standards of security and reliability.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Economy – Financial system remains resilient amidst economic downturn – Reserve Bank of NZ

    Source: Reserve Bank of New Zealand

    5 November 2024 – Risks to New Zealand’s financial system remain contained, Deputy Governor Christian Hawkesby says in releasing the November 2024 Financial Stability Report.
     
    Financial stability is critical for economic wellbeing. Trust and confidence in our financial system is essential for ensuring New Zealanders can safely save, borrow, and manage financial risk.

    Globally and in New Zealand, interest rates are declining as inflation subsides. Debt servicing costs are nearing their peak and beginning to decline, with advertised mortgage rates falling over the past six months. This shift will make mortgage costs more manageable for households.

    However, domestic economic challenges remain. Many households and businesses are feeling financial pressure and rising unemployment is posing challenges for some borrowers. Banks anticipate a slight increase in non-performing loans, albeit still below levels seen in previous recessions.

    “New Zealand banks are well positioned to continue supporting households and businesses, including effectively handling any potential loan defaults,” Mr Hawkesby says. “Our financial institutions are well prepared to ensure that credit remains available for households and businesses. The strength of our financial system means we are able to weather economic uncertainties and challenges, including increased geopolitical tensions.”

    We are supportive of efforts to improve competition in the banking sector – including the Commerce Commission market study and Parliament’s Select Committee enquiry. The Report outlines the initiatives we are undertaking to advance this work in our role as a prudential regulator and central bank.

    The implementation of the Deposit Takers Act is progressing swiftly. Our efforts this year have focused on developing standards for deposit takers, with the Depositor Compensation Scheme on track to launch by mid-2025.
     

    More information

    Read our November Financial Stability Report : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=63022eac0b&e=f3c68946f8
    The November Financial Stability media conference starts at 1pm. See all event details. See full event details: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=d531d439c5&e=f3c68946f8
    In this media conference, we will be taking questions from the public through an online chatbox connected to the livestream. Please note that questions from media representatives in the room will be prioritised.
    Read our update on the housing market : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=7eedfe2ad3&e=f3c68946f8
    Read our assessment of geopolitical risks: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=add80d3e93&e=f3c68946f8
    Read about the results of the 2024 Reverse Stress Test : https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=b1fce6d62c&e=f3c68946f8
    What is the Financial Stability Report: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=77bc49db11&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI USA: Precautionary Boil Water Advisory Issued for Customers of the Town of Richmond and Town of Hopkinton Public Water Systems

    Source: US State of Rhode Island

    The Rhode Island Department of Health (RIDOH) is alerting customers of the Town of Richmond Public Water System and the Town of Hopkinton Public Water System that they should boil their water before consuming from Thursday November 7th through approximately Tuesday, November 12th. This boil water advisory is a precaution while a water storage tank is being repaired.

    When repairs are being made to a water storage tank that is not isolated from the system, bacteria may get into the water supply. RIDOH wants to assure customers that there is currently no confirmed bacterial contamination within the water system(s) or the water that supplies the systems. Once the repairs on the storage tank are complete, and before the boil water advisory is lifted, the water system will disinfect the system (within safe levels), flush the pipes, and test the water (at least two consecutive samples collected 24 hours apart). RIDOH will review and approve water sample test results to assure no bacteria entered the water system. Once the repairs on the storage tank are complete, RIDOH will announce when the advisory is lifted. Customers will also be directly notified by the water system when the advisory is lifted. A list of addresses impacted by this precautionary boil water advisory are listed below.

    RIDOH advises: � All water used for drinking, preparing or cooking food, making ice, brushing teeth, or making infant formula should be boiled vigorously for at least one minute. Alternatively, customers can use bottled water. � Wash dishes in a dishwasher and use the sanitizer cycle. If you do not have a dishwasher, wash dishes in warm, soapy water and rinse the dishes with pre-boiled or bottled water. � Infants and young children should not be bathed in this water because they may swallow it accidentally. Anyone else using this water for bathing or showering should be careful to avoid swallowing the water.

    Contaminated water can cause diarrhea, cramps, nausea, headaches or other symptoms. Infants, young children, or people with weakened immune systems may have more severe symptoms. Boiling the water kills bacteria and other organisms in the water. Additional guidance is available online. RIDOH is sharing specific guidance with restaurants and other food establishments in the area. (Guidance for food establishments is also available online.)

    Any water system customer who has diarrhea and any of the following symptoms should contact a healthcare professional. � Fever higher than 101.5� F, measured orally; � Blood in the stool; � Prolonged vomiting that prevents keeping liquids down (which can lead to dehydration); � Diarrhea that lasts more than three days; or � Symptoms of dehydration (decrease in urination, dry mouth and throat, and feeling dizzy when standing up).

    Customers with questions can call Danielle Agajanian, Northeast Water Solutions, at 401-667-7463 extension101, Monday-Friday, 8:45 a.m. � 3 p.m.

    Customers of the Town of Hopkinton Water System at the following addresses are impacted by this precautionary boil water advisory: � Bank Street: Number 10 � Locustville Road: Numbers 10 and 14 � Main Street: Numbers 995, 996, 999, 1006, 1009, 1017, 1023, 1024, 1026, 1027, 1035, 1036, 1039, 1040, 1044, 1045, 1048, 1050, 1053, 1054, 1059, 1060, 1064, 1066, 1070, 1074, 1078, 1082, 1089, 1090-A, 1093, 1097, 1100, 1105, 1105-A, 1110, 1111, 1113, 1114, 1115-A, 1115-B, 1115-C, 1116, 1117, 1119, 1121, 1123, and 1125 � Spring Street: Numbers 1 and 8 � Thelma Drive: Numbers 15 and 20

    Customers of the Town of Richmond Water System at the following addresses are impacted by this precautionary boil water advisory: � Beverly Lane: Numbers 2 and 4 � Bridge Street: Number 8 � Buttonwoods Road: Number 4 � Canob Lane: Numbers 5, 6, 7, 9, 11, 12, 13, 15, 17, 19, 20, 21, 23, 24, and 25 � Cards Farm Drive: Number 3 � Chariho Drive: Numbers 2, 5, 7, 8, 10, 11, 12, 13, 14, 15, 17, 18, 16, 20, 21, 22, and 23 � Deerfield Drive: Numbers 1, 8, and 15 � Jupiter Lane: Numbers 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 15, and 17 � K G Ranch Road: Numbers 30, 35, 38, 39, 61, 67, 70, 77, 82, 83, 88, 96, 98, 100, and 104 � Kingstown Road: Numbers 6, 12, 18, 21, 22, 26, 28, 30, 38, 39, 46, 54, 58, 66, 71, 73, 87, 91, 93-A, 93-D, 96, 101, 105, 122, and 180 � Main Street: Numbers 1120, 1122, 1129, 1131, 1133, 1135, 1136, 1139, 1141, 1143, 1146, 1147, 1150, 1050-A, 1151, 1152, 1155, 1158, 1160-A, 1160-B, 1167, 1171, 1175, 1187, 1190, 1199, 1200, 1203, 1209, 1210, 1214, and 1219 � Meadowbrook Road: Numbers 2, 4, 9, 10, 11, 12, 14, 15, 17, 22, and 23 � Nooseneck Hill: Numbers 6, 9, 11, 13, 17, 21, 25, 27, 29, 31, 33, 37, 37-A, 41, 43, 47, 49, 51, 54, 73, 78, and 85 � Old Kenyon Road: Numbers 10, 18, and 25 � Pinehaven Drive: Numbers 3, 4, 5, 7, 8, 9, 10, and 12 � Springbrook Road: Number 2 � Spring Green Drive: Numbers 3, 5, 7, 9, and 11 � Stilson Road: Numbers 1, 5, 12, 39, 42, 47, 59, 62, 68, and 75 � Tall Timbers Drive: Number 1 � Whispering Pine: Numbers 5, 6, 11, 12, 17, 18, and 20 � Wildwood Court: Numbers 2 and 3 � Wood River Drive: Number 2

    MIL OSI USA News –

  • MIL-OSI USA: Press Release: Congressional Delegation, RIDOT and Amtrak Kick Off Providence Station State of Good Repair Project

    Source: US State of Rhode Island

    U.S. Senators Jack Reed and Sheldon Whitehouse, Congressman Seth Magaziner, Congressman Gabe Amo, and Rhode Island Department of Transportation (RIDOT) Director Peter Alviti, Jr. today gathered with Amtrak leadership and other federal, state and local leaders to kick off a long-awaited project to renovate Providence Station.

    Built in 1986, Providence Station has grown to serve more than two million passengers a year, making it the 11th most utilized train station in the country. While improvements have been made over the years, many station elements are original. Various infrastructure elements and systems are not in a state of good repair, and station capacity is strained. This project will modernize and expand the station in addition to upgrading access to it and making that access safer and easier.

    The project was made possible by a $12.5 million Federal Railroad Administration (FRA) State of Good Repair Grant delivered by Senator Reed in 2019. Amtrak provided $9.75 million and RIDOT put in $7.75 million. This builds on previous funding the congressional delegation secured, including $5.2 million for station enhancements and $3 million for planning, design, and environmental reviews.

    The project includes many improvements for passenger amenities and public spaces. This includes expanding the station floorplan by enclosing the plaza on the western side of the station, adjacent to Caf� La France, and providing additional seating; modernizing and expanding the restrooms; consolidating ticketing and baggage operations; upgrading the public address system with visual displays; making accessibility improvements; and upgrading the station’s mechanical, electrical, fire protection, and plumbing systems.

    “For millions of passengers each year, the Providence Station is a gateway to Rhode Island and our capital city. This project will help Providence Station meet growing ridership with a welcoming space that is more modern, accessible, and efficient,” said Senator Reed, a leading member of the Appropriations Committee. “I was proud to help deliver a $12.5 million competitive grant to advance this critical renovation project. When it’s completed, it will be a major improvement for passengers, tourism, and the community as a whole.”

    “Providence Station currently serves many more passengers than it was originally designed for, and the wear and tear is evident,” said Senator Whitehouse, a senior member of the Environment and Public Works Committee. “This is an exciting project that will greatly improve the travel experience for the millions of passengers who spend time in the Station every year. Once again, our Bipartisan Infrastructure Law is at work delivering convenient and reliable transportation upgrades for Rhode Islanders.”

    “Providence Station is an essential transit hub for Rhode Islanders and is overdue for an upgrade,” said Representative Magaziner. “This federal funding will modernize amenities and improve accessibility to better serve the millions of passengers that pass through this station each year.” “Providence Station currently serves more than two million loyal riders every year. I’m proud to be one of them,” said Congressman Amo. “Thanks to Senator Jack Reed � who played a key role in securing federal funds for this over $30 million renovation � we’re working to modernize this vital transportation hub. Once open, it will signal to residents and visitors alike that Providence is a leader in providing a 21st-century travel experience.”

    “Providence Station is not only the busiest transit center in Rhode Island, it’s one of the busiest in the entire country,” Director Alviti said. “The improvements are well-deserved and will serve passengers for generations to come while encouraging greater use of transit services for trips within Rhode Island as well as out of state.”

    “Providence Station serves as a vital hub for our community. This renovation will enhance and modernize this space for the millions of passengers who rely on this station every year,” said Providence Mayor Brett P. Smiley. “The state-of-the-art amenities and improved safety and access features that will be implemented at this critical transit center will further cement Providence as a top destination for people to live, work and visit. I want to thank Senators Jack Reed and Sheldon Whitehouse, Congressmen Seth Magaziner and Gabe Amo, the Federal Railroad Administration and RIDOT for their commitment to this important project.”

    “Transforming Providence Station into a more modern facility and expanding the customer amenities and space, while still keeping the original charms of the current station, will simultaneously enhance the customer experience and encourage more residents and visitors to take the train,” said Tom Moritz, Amtrak’s assistant vice president of infrastructure access and investment. “Thanks to Senators Reed and Whitehouse, Congressmen Magaziner and Amo, Mayor Smiley, our partners at RIDOT and the FRA, as well as many more federal, state, and local officials, we are proud to take the next step and begin work to update and upgrade Providence Station.”

    During construction, pedestrian areas may be temporarily blocked with detours established. Amtrak intends to maintain restroom facilities, the Oakwells convenience store, and the caf� operations during the project although some services may be temporarily limited.

    There also will be an increased safety presence with a more prominent Amtrak Police entrance and counter. In an already completed phase of work, RIDOT made improvements to the pedestrian walkways in Station Park in 2023, which connects the station to Francis Street, opposite Providence Place Mall. The total value of all improvements is $30 million.

    All construction projects are subject to changes in schedule and scope depending on needs, circumstances, findings and weather.

    The Providence Station of Good Repair Project is made possible by RhodeWorks and the Bipartisan Infrastructure Investment and Jobs Act. RIDOT is committed to bringing Rhode Island’s infrastructure into a state of good repair while respecting the environment and striving to improve it. Learn more at www.ridot.net/RhodeWorks.

    MIL OSI USA News –

  • MIL-OSI USA: DCCA NEWS RELEASE: REAL ESTATE COMMISSION TO HOST A FREE VIRTUAL “CONDORAMA” EDUCATION EVENT

    Source: US State of Hawaii

    DCCA NEWS RELEASE: REAL ESTATE COMMISSION TO HOST A FREE VIRTUAL “CONDORAMA” EDUCATION EVENT

    Posted on Nov 4, 2024 in Latest Department News, Newsroom

     

    DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS

    KA ʻOIHANA PILI KĀLEPA

     

    PROFESSIONAL AND VOCATIONAL LICENSING DIVISION

     

    JOSH GREEN, M.D.
    GOVERNOR | KE KIAʻĀINA

    NADINE Y. ANDO
    DIRECTOR | KA LUNA HOʻOKELE

    AHLANI K. QUIOGUE

    LICENSING ADMINISTRATOR

    FOR IMMEDIATE RELEASE

    November 4, 2024

    REAL ESTATE COMMISSION TO HOST A FREE VIRTUAL “CONDORAMA” EDUCATION EVENT

     

    HONOLULU — The Real Estate Commission, together with Community Associations Institute Hawaii Chapter will conduct a free “Condorama XIII” event via webinar, on Saturday, November 9, 2024. The event runs from 9:00 a.m. to 11:00 a.m. and will feature speakers highlighting topics relating to the condominium community.

     

    The event is geared toward condominium owners and is open to the public. Registration is available online at https://www.caihawaii.org/. Following the presentation, a recording of the event will be made available on the CAI Hawaii and the Real Estate Branch Condorama websites.

    TOPICS INCLUDE:

    • The Hawai‘i Civil Rights Commission

     

    Marcus Kawatachi, Deputy Executive Director of the Hawai‘i Civil Rights Commission (“HCRC”) will provide information on the HCRC and its function, how complaints are processed, types of claims received and tips to avoid complaints.

     

    • Dealing with Violence in Associations

     

    Jeffrey Owens, CSP, CTM, CVP, Major-HPD Ret., will provide an overview on dealing with violence in associations, including strategies on managing events to safety, productive communications, reducing personal risk during encounters and regaining control when people are out of control.

    For more information regarding Condorama XIII, please visit the Real Estate Branch Condorama website at https://cca.hawaii.gov/condorama/, or call the Real Estate Branch at 808-586-2644.

    # # #

    The Real Estate Commission is one of 52 boards, commissions and programs administratively attached to the Department of Commerce and Consumer Affairs’ Professional and Vocational Licensing Division. It is responsible for the licensure, education and discipline of real estate agents; registration of prelicense schools, continuing education providers, condominium projects, condominium associations, condominium managing agents and condominium hotel operators; and certification of prelicense and continuing education courses and prelicense instructors.

    Media Contact:

    William Nhieu

    Communications Officer

    Department of Commerce and Consumer Affairs

    [email protected]

    Office: 808-586-7582

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta: California to Receive up to $122 Million in Opioid Agreement with Kroger for Its Role in Opioid Epidemic

    Source: US State of California

    Monday, November 4, 2024

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    To date, the Attorney General has secured nearly $50 billion in nationwide opioid settlements and bankruptcies

    California is expected to receive up to $4.2 billion in opioid abatement funds under these settlements and bankruptcy plans

    OAKLAND – California Attorney General Rob Bonta today announced the completion of a $1.37 billion settlement agreement with Kroger, addressing the grocery chain’s role in the opioid crisis. California will receive up to $122 million for opioid abatement, with payments anticipated to begin early next year. The settlement will resolve allegations that the company failed to appropriately oversee the dispensing of opioids at its pharmacies.  

    “At the California Department of Justice, we are committed to holding entities, like Kroger, accountable for their role in fueling the opioid epidemic,” said Attorney General Bonta. “Today’s announcement builds on our commitment in our continued fight for justice and relief. The funds secured in this settlement will allow the state and eligible cities and counties to continue addressing the harms inflicted by this epidemic through comprehensive prevention, treatment and recovery programs, and other resources. I want to thank my team and our partners nationwide in making this settlement possible.”

    In the settlement, Kroger has agreed to injunctive relief that requires its pharmacies to monitor, report, and share data about suspicious activity related to opioid prescriptions. Kroger operates in California through a number of subsidiaries, including principally Ralph’s. 

    To date, the Attorney General has secured nearly $50 billion in abatement funding through nationwide settlements and bankruptcies. California is expected to receive up to $4.2 billion in opioid abatement funds under these settlements, with the bulk of these funds going to our local governments. Recognizing the impact of the opioid and fentanyl crisis to both public health and public safety, the Attorney General issued guidance to provide local governments with suggestions for the permissible, effective, and strategic use of opioid settlement abatement funds. This guidance is aimed at helping local governments maximize impact, save lives, and strengthen public health infrastructures to tackle the opioid and fentanyl crisis. 

    A copy of the multistate settlement agreement, which must still be entered by a state court judge, can be found here.

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    MIL OSI USA News –

  • MIL-OSI Submissions: Economy – Affirm needs strategic positioning amid regulatory shifts in the crowded UK BNPL market, says GlobalData

    Source: GlobalData

    Following the news that the US-based buy now pay later (BNPL) startup Affirm has entered the UK market;

    Phoebe Hodgson, Associate Analyst, Banking and Payments at GlobalData, offers her view:

    “The BNPL market in the UK is becoming increasingly saturated. According to GlobalData’s 2024 Financial Services Consumer Survey*, only 21% of respondents in the UK have used an online BNPL service while buying goods and services. This limited adoption, coupled with an already concentrated market, where 75% of the UK market is held by five BNPL providers, suggests Affirm may find it challenging to position itself among the well-established competitors like Klarna, PayPal and Zilch.

    “Affirm’s unique selling points, such as extended loan periods and strategic partnerships, could help distinguish it, but it will have to overcome significant obstacles. One of the biggest hurdles is the evolving regulatory environment. The UK government seeks to regulate the BNPL product further, treating it as if it were a credit product, subjecting them to stricter consumer protections and potentially reducing the appeal for BNPL for both providers and consumers alike. Soon to be under stricter regulations, Affirm must work under pressure to assert itself among the UK customers, who are more cautious of debt amid high living costs and economic uncertainty. Furthermore, with competitors already moving towards innovative product extensions, and compliance initiatives, Affirm’s market entry may need to be more than just a product push – it must be a strategic positioning exercise to resonate with cautious UK consumers.”

    *Global survey conducted online in Q2 2024 among 67,292 consumers across 41 markets globally. The survey explores global consumer behaviors, purchasing preferences, and attitudes across the most important banking products. The UK’s sample is 5,003.

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

    MIL OSI – Submitted News –

  • MIL-OSI USA: SBA Disaster Assistance Available to New Mexico Private Nonprofit Organizations

    Source: United States Small Business Administration

    “As communities across the Southeast continue to recover and rebuild after Hurricanes Helene and Milton, the SBA remains focused on its mission to provide support to small businesses to help stabilize local economies, even in the face of diminished disaster funding,” said Administrator Isabel Casillas Guzman. “If your business has sustained physical damage, or you’ve lost inventory, equipment or revenues, the SBA will help you navigate the resources available and work with you at our recovery centers or with our customer service specialists in person and online so you can fully submit your disaster loan application and be ready to receive financial relief as soon as funds are replenished.”

    SACRAMENTO, Calif. – Low-interest federal disaster loans are now available to certain private nonprofit organizations in New Mexico following President Biden’s federal disaster declaration for Public Assistance as a result of severe storm and flooding that occurred Oct. 19-20, announced Administrator Isabel Casillas Guzman of the U.S. Small Business Administration. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.

    These low-interest federal disaster loans are available in Chaves County.

    “Private nonprofit organizations should New Mexico Department of Homeland Security and Emergency Management Recovery Bureau by calling (505) 476-9600, emailing recovery.unit@dhsem.nm.gov or visiting https://www.dhsem.nm.gov to obtain information about applicant briefings,” said Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “At the briefings, private nonprofit representatives will need to provide information about their organization,” continued Sánchez. The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an “essential governmental service” and is a “critical facility” as defined by law. FEMA may provide the private nonprofit with a Public Assistance grant for their eligible costs. SBA encourages all private nonprofit organizations to apply with SBA for disaster loan assistance.

    SBA may lend private nonprofits up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

    For certain private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster. Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the nonprofit suffered any property damage.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez continued. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

    The interest rate is 3.25 percent with terms up to 30 years. The deadline to apply for property damage is Dec. 31, 2024. The deadline to apply for economic injury is Aug. 1, 2025.

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

    Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

    Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

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    About the U.S. Small Business Administration
    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Administrator Guzman Celebrates Native American Heritage Month

    Source: United States Small Business Administration

    WASHINGTON– Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for more 34 million small businesses, kicked off Native American Heritage Month byhighlighting the unprecedented progress made in supporting Native small business owners across the country.

    “Native American small businesses are a vital component of the economic fabric of our nation, contributing to job creation, innovation and community development across the U.S.,” said SBA Administrator Guzman. “Under the Biden-Harris Administration, the SBA has made significant strides in its work to support and uplift these businesses, delivering the resources and opportunities needed to succeed. Every month we honor and respect Tribal Nations, and during Native American Heritage Month in particular, we acknowledge the many contributions Indigenous people have made to this country. We are proud to honor their achievements and support their continued success.”

    Under the Biden-Harris Administration, the SBA has prioritized engagement with Native communities, resulting in significant advancements in federal contracting, access to capital and policy development. Currently, there are 13 Native banks or Community Development Financial Institutions (CDFIs) that lend with SBA programs, representing a 30% increase since January 2021. The SBA has nearly doubled its lending dollar amount to Native entrepreneurs from FY20 to FY24, reaching $267 million for both 7(a) and 504 lending in the last fiscal year. Native American contracting, including Alaska Native Corporations (ANCs), Native Hawaiian Organizations (NHOs), has also experienced unprecedented growth, with a remarkable 49% increase from FY20 to FY23.

    Additionally, in recognition of the importance of Tribal consultation, the SBA has updated its Tribal Consultation Policy and successfully held rounds of consultations that have directly influenced final policy outcomes. The Biden-Harris Administration has also developed two groundbreaking programs to further support Native small businesses: The Small Business Tribal College Achievement (TCSBA) grant program, which enhanced entrepreneurship education and training, and the Native Trade Export Program (NATEP), which expanded Native businesses’ access to international markets.

    Since taking office, Administrator Guzman has made it a priority to visit Native communities, lands and convenings, surpassing the record of any previous SBA Administrator. Notable visits include the Winnebago Tribe, Navajo Nation, All Pueblo Council of Governors, Mashantucket Pequot Tribal Nation, North Dakota, Chickasaw Nation, Anchorage, Nome, Juneau, Honolulu, Maui and participation in the Reservation Economic Summit (RES) hosted by the National Center for American Indian Enterprise Development. Additionally, the Administrator has participated in the White House Tribal Nation Summits on three occasions, demonstrating the Biden-Harris Administration’s commitment to Tribal consultation.

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    About SBA’s Office of Native American Affairs (ONAA)

    The Office of Native American Affairs (ONAA) is in the U.S. Small Business Administration’s (SBA) headquarters in Washington, DC. Our goal is to promote and support Native American entrepreneurs. We engage in numerous outreach activities including tribal consultations, development and distribution of promotional materials, attendance and participation in national economic development conferences.

    ONAA facilitates full access to business growth and expansion tools for small businesses owned by Native Americans. ONAA engages in tribal consultations, produces promotional materials and participates in national economic development conferences.

    American Indians, Alaska Natives and Native Hawaiians can use our local assistance tool to find nearby offices and resources. There, you can get counseling on whether our 8(a) Business Development Program is right for you.

    About the U.S. Small Business Administration 
    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –