Category: Business

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

Source: GlobeNewswire (MIL-OSI)

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

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

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

September 30, 2024, Highlights:

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

Balance Sheet and Asset Quality Review

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

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

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

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

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

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

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

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

Operations Review

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

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

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

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

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

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

About PSB Holdings, Inc.

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

Forward-Looking Statements

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

PSB Holdings, Inc.
Consolidated Balance Sheets
September 30, June 30, and March 31, 2024, September 30, 2023, unaudited, December 31, 2023 derived from audited financial statements

	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands, except per share data)		2024			2024			2024			2023			2023

Assets

Cash and due from banks	$	23,554		$	16,475		$	13,340		$	20,887		$	12,881
Interest-bearing deposits		5,126			251			105			1,431			668
Federal funds sold		58,434			69,249			2,439			5,462			7,764

Cash and cash equivalents		87,114			85,975			15,884			27,780			21,313
Securities available for sale (at fair value)		174,911			165,177			165,566			164,024			160,883
Securities held to maturity (fair values of $82,389, $79,993, $81,234, $82,514 and
$75,236 respectively)		86,847			86,825			87,104			87,081			86,908
Equity securities		1,752			1,661			1,474			1,474			2,273
Loans held for sale		–			2,268			865			230			971
Loans receivable, net (allowance for credit losses of $12,598, $12,597, $12,494,
$12,302 and $12,267 respectively)		1,057,974			1,074,844			1,081,394			1,078,475			1,098,019
Accrued interest receivable		4,837			5,046			5,467			5,136			4,716
Foreclosed assets		–			–			–			–			–
Premises and equipment, net		14,065			14,048			13,427			13,098			13,242
Mortgage servicing rights, net		1,727			1,688			1,657			1,664			1,684
Federal Home Loan Bank stock (at cost)		8,825			8,825			7,006			6,373			6,373
Cash surrender value of bank-owned life insurance		24,565			24,401			24,242			24,085			23,931
Core deposit intangible		212			229			249			273			297
Goodwill		2,541			2,541			2,541			2,541			2,541
Other assets		10,598			12,111			11,682			11,866			14,094

TOTAL ASSETS	$	1,475,968		$	1,485,639		$	1,418,558		$	1,424,100		$	1,437,245

Liabilities

Non-interest-bearing deposits	$	265,078		$	250,435		$	247,608		$	266,829		$	288,765
Interest-bearing deposits		874,035			901,886			865,744			874,973			883,474

Total deposits		1,139,113			1,152,321			1,113,352			1,141,802			1,172,239

Federal Home Loan Bank advances		181,250			184,900			158,250			134,000			128,000
Other borrowings		6,128			5,775			8,096			8,058			5,660
Senior subordinated notes		4,779			4,778			4,776			4,774			4,772
Junior subordinated debentures		12,998			12,972			12,947			12,921			12,896
Allowance for credit losses on unfunded commitments		477			477			477			577			512
Accrued expenses and other liabilities		12,850			13,069			10,247			12,681			10,258

Total liabilities		1,357,595			1,374,292			1,308,145			1,314,813			1,334,337

Stockholders’ equity

Preferred stock – no par value:
Authorized – 30,000 shares; no shares issued or outstanding
Outstanding – 7,200 shares, respectively		7,200			7,200			7,200			7,200			7,200
Common stock – no par value with a stated value of $1.00 per share:
Authorized – 18,000,000 shares; Issued – 5,490,798 shares
Outstanding – 4,105,594, 4,128,382, 4,147,649, 4,164,735 and
4,174,197 shares, respectively		1,830			1,830			1,830			1,830			1,830
Additional paid-in capital		8,567			8,527			8,466			8,460			8,421
Retained earnings		138,142			135,276			134,271			132,666			131,624
Accumulated other comprehensive income (loss), net of tax		(15,814	)		(20,503	)		(20,775	)		(20,689	)		(26,190	)
Treasury stock, at cost – 1,385,204, 1,362,416, 1,343,149, 1,326,063 and
1,316,601 shares, respectively		(21,552	)		(20,983	)		(20,579	)		(20,180	)		(19,977	)

Total stockholders’ equity		118,373			111,347			110,413			109,287			102,908

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,475,968		$	1,485,639		$	1,418,558		$	1,424,100		$	1,437,245

PSB Holdings, Inc.
Consolidated Statements of Income
	Quarter Ended												Nine Months Ended
(dollars in thousands,	Sep. 30,		Jun. 30,		Mar. 31,			Dec. 31,			Sep. 30,		September
except per share data – unaudited)	2024		2024		2024			2023			2023		2024			2023

Interest and dividend income:
Loans, including fees	$	15,634	$	15,433	$	15,109		$	14,888		$	14,263	$	46,176		$	38,745
Securities:
Taxable		1,345		1,295		1,197			1,147			1,114		3,837			3,772
Tax-exempt		522		521		526			532			533		1,569			1,605
Other interest and dividends		699		265		343			320			238		1,307			531

Total interest and dividend income		18,200		17,514		17,175			16,887			16,148		52,889			44,653

Interest expense:
Deposits		5,905		5,838		6,082			5,526			4,817		17,825			11,467
FHLB advances		2,038		1,860		1,450			1,349			1,321		5,348			3,068
Other borrowings		57		58		60			54			51		175			161
Senior subordinated notes		59		58		59			59			59		176			179
Junior subordinated debentures		252		255		251			254			255		758			731

Total interest expense		8,311		8,069		7,902			7,242			6,503		24,282			15,606

Net interest income		9,889		9,445		9,273			9,645			9,645		28,607			29,047
Provision for credit losses		–		100		95			100			150		195			350

Net interest income after provision for credit losses		9,889		9,345		9,178			9,545			9,495		28,412			28,697

Noninterest income:
Service fees		367		350		336			360			349		1,053			1,088
Mortgage banking income		433		433		308			247			345		1,174			981
Investment and insurance sales commissions		230		222		121			100			158		573			810
Net loss on sale of securities		–		–		(495	)		(297	)		–		(495	)		(279	)
Increase in cash surrender value of life insurance		165		159		157			154			155		481			461
Life insurance death benefit		–		–		–			–			–		–			533
Other noninterest income		648		742		617			540			675		2,007			2,022

Total noninterest income		1,843		1,906		1,044			1,104			1,682		4,793			5,616

Noninterest expense:
Salaries and employee benefits		4,771		5,167		5,123			4,244			4,514		15,061			14,404
Occupancy and facilities		757		733		721			675			689		2,211			2,086
Loss (gain) on foreclosed assets		1		–		–			1			–		1			(46	)
Data processing and other office operations		1,104		1,047		1,022			1,001			953		3,173			2,784
Advertising and promotion		164		171		129			244			161		464			489
Core deposit intangible amortization		17		20		24			24			24		61			85
Other noninterest expenses		1,337		1,257		1,306			1,169			1,113		3,900			3,388

Total noninterest expense		8,151		8,395		8,325			7,358			7,454		24,871			23,190

Income before provision for income taxes		3,581		2,856		1,897			3,291			3,723		8,334			11,123
Provision for income taxes		593		410		169			878			2,374		1,172			3,967

Net income	$	2,988	$	2,446	$	1,728		$	2,413		$	1,349	$	7,162		$	7,156
Preferred stock dividends declared	$	122	$	122	$	122		$	122		$	122	$	366		$	366

Net income available to common shareholders	$	2,866	$	2,324	$	1,606		$	2,291		$	1,227	$	6,796		$	6,790
Basic earnings per common share	$	0.69	$	0.56	$	0.39		$	0.55		$	0.29	$	1.64		$	1.61
Diluted earnings per common share	$	0.69	$	0.56	$	0.39		$	0.55		$	0.29	$	1.64		$	1.61

PSB Holdings, Inc.
Quarterly Financial Summary
(dollars in thousands, except per share data)		Quarter ended
		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
Earnings and dividends:			2024			2024			2024			2023			2023

	Interest income	$	18,200		$	17,514		$	17,175		$	16,887		$	16,148
	Interest expense	$	8,311		$	8,069		$	7,902		$	7,242		$	6,503
	Net interest income	$	9,889		$	9,445		$	9,273		$	9,645		$	9,645
	Provision for credit losses	$	–		$	100		$	95		$	100		$	150
	Other noninterest income	$	1,843		$	1,906		$	1,044		$	1,104		$	1,682
	Other noninterest expense	$	8,151		$	8,395		$	8,325		$	7,358		$	7,454
	Net income available to common shareholders	$	2,866		$	2,324		$	1,606		$	2,291		$	1,227

	Basic earnings per common share (3)	$	0.69		$	0.56		$	0.39		$	0.55		$	0.29
	Diluted earnings per common share (3)	$	0.69		$	0.56		$	0.39		$	0.55		$	0.29
	Dividends declared per common share (3)	$	–		$	0.32		$	–		$	0.30		$	–
	Tangible net book value per common share (4)	$	26.41		$	24.55		$	24.21		$	23.84		$	22.25

	Semi-annual dividend payout ratio	n/a				33.60	%	n/a				38.14	%	n/a
	Average common shares outstanding		4,132,218			4,139,456			4,154,702			4,168,924			4,186,940


Balance sheet – average balances:
	Loans receivable, net of allowances for credit loss	$	1,066,795		$	1,088,013		$	1,081,936		$	1,081,851		$	1,076,158
	Assets	$	1,445,613		$	1,433,749		$	1,429,437		$	1,424,240		$	1,425,522
	Deposits	$	1,110,854		$	1,111,240		$	1,138,010		$	1,148,399		$	1,149,624
	Stockholders’ equity	$	114,458		$	110,726		$	109,473		$	105,060		$	105,745


Performance ratios:
	Return on average assets (1)		0.82	%		0.69	%		0.49	%		0.67	%		0.38	%
	Return on average common stockholders’ equity (1)		10.63	%		9.03	%		6.32	%		9.29	%		4.94	%
	Return on average tangible common
	stockholders’ equity (1)(4)		10.96	%		9.34	%		6.57	%		9.64	%		5.17	%
	Net loan charge-offs to average loans (1)		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
	Nonperforming loans to gross loans		0.97	%		1.15	%		1.08	%		0.54	%		0.55	%
	Nonperforming assets to total assets		0.71	%		0.84	%		0.83	%		0.42	%		0.42	%
	Allowance for credit losses to gross loans		1.18	%		1.16	%		1.14	%		1.13	%		1.10	%
	Nonperforming assets to tangible equity
	plus the allowance for credit losses (4)		8.71	%		11.09	%		10.59	%		5.38	%		5.87	%
	Net interest rate margin (1)(2)		2.90	%		2.84	%		2.80	%		2.88	%		2.88	%
	Net interest rate spread (1)(2)		2.16	%		2.15	%		2.12	%		2.20	%		2.27	%
	Service fee revenue as a percent of
	average demand deposits (1)		0.56	%		0.56	%		0.54	%		0.52	%		0.50	%
	Noninterest income as a percent
	of gross revenue		9.20	%		9.81	%		5.73	%		6.14	%		9.43	%
	Efficiency ratio (2)		68.43	%		72.52	%		78.93	%		67.04	%		64.58	%
	Noninterest expenses to average assets (1)		2.24	%		2.35	%		2.34	%		2.05	%		2.07	%
	Average stockholders’ equity less accumulated
	other comprehensive income (loss) to
	average assets		9.06	%		9.03	%		8.98	%		8.88	%		9.00	%
	Tangible equity to tangible assets (4)		7.85	%		7.32	%		7.60	%		7.49	%		6.98	%

Stock price information:

	High	$	25.00		$	21.40		$	22.50		$	22.30		$	22.50
	Low	$	20.30		$	19.75		$	20.05		$	20.10		$	20.35
	Last trade value at quarter-end	$	25.00		$	20.40		$	21.25		$	22.11		$	21.15

(1) Annualized
(2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%.
(3) Due to rounding, cumulative quarterly per share performance may not equal annual per share totals.
(4) Tangible stockholders’ equity excludes goodwill and core deposit intangibles.

PSB Holdings, Inc.
Consolidated Statements of Comprehensive Income

			Quarter Ended
			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
(dollars in thousands – unaudited)				2024			2024			2024			2023			2023

Net income			$	2,988		$	2,446		$	1,728		$	2,413		$	1,349

Other comprehensive income, net of tax:

	Unrealized gain (loss) on securities available
		for sale		4,738			184			(615	)		5,278			(3,085	)

	Reclassification adjustment for security
		loss included in net income		–			–			391			280			–

	Accretion of unrealized loss included in net
		income on securities available for sale
		deferred tax adjustment for Wisconsin
		Act 19		–			–			(35	)		–			–

	Amortization of unrealized loss included in net
		income on securities available for sale
		transferred to securities held to maturity		90			89			91			91			91

	Unrealized gain (loss) on interest rate swap			(101	)		39			123			(109	)		79

	Reclassification adjustment of interest rate
		swap settlements included in earnings		(38	)		(40	)		(41	)		(39	)		(35	)


Other comprehensive income (loss)				4,689			272			(86	)		5,501			(2,950	)

Comprehensive income (loss)			$	7,677		$	2,718		$	1,642		$	7,914		$	(1,601	)

PSB Holdings, Inc.
Nonperforming Assets as of:
	Sep 30,			Jun 30,			Mar 31,			Dec 31,			Sep 30,
(dollars in thousands)		2024			2024			2024			2023			2023

Nonaccrual loans (excluding restructured loans)	$	10,116		$	12,184		$	11,498		$	5,596		$	5,807
Nonaccrual restructured loans		25			28			30			34			42
Restructured loans not on nonaccrual		292			299			304			310			256
Accruing loans past due 90 days or more		–			–			–			–			–

Total nonperforming loans		10,433			12,511			11,832			5,940			6,105
Other real estate owned		–			–			–			–			–

Total nonperforming assets	$	10,433		$	12,511		$	11,832		$	5,940		$	6,105

Nonperforming loans as a % of gross loans receivable		0.97	%		1.15	%		1.08	%		0.54	%		0.55	%
Total nonperforming assets as a % of total assets		0.71	%		0.84	%		0.83	%		0.42	%		0.42	%
Allowance for credit losses as a % of nonperforming loans		120.75	%		100.69	%		105.59	%		207.10	%		200.93	%

PSB Holdings, Inc.
Nonperforming Assets >= $500,000 net book value before specific reserves
At September 30, 2024
(dollars in thousands)
		Gross			Specific
Collateral Description	Asset Type	Principal			Reserves

Real estate – Recreation Facility	Nonaccrual	$	3,291		$	–
Real estate – Independent Auto Repair	Nonaccrual		562			–
Real estate – Equipment Dealership	Nonaccrual		2,808			660


Total listed nonperforming assets		$	6,661		$	660
Total bank wide nonperforming assets		$	10,433		$	1,220
Listed assets as a % of total nonperforming assets			64	%		54	%

PSB Holding, Inc.
Loan Composition by Collateral Type
Quarter-ended (dollars in thousands)	Sep 30, 2024			Jun 30, 2024			Mar 31, 2024			Dec 31, 2023			Sep 30, 2023

Commercial:
Commercial and industrial	$	115,234		$	125,508		$	118,821		$	117,207		$	138,299
Agriculture		11,203			11,480			12,081			12,304			12,464
Municipal		12,596			11,190			28,842			31,530			27,186

Total Commercial		139,033			148,178			159,744			161,041			177,949

Commercial Real Estate:
Commercial real estate		541,577			544,171			546,257			536,209			539,488
Construction and development		60,952			70,540			63,375			81,701			86,456

Total Commercial Real Estate		602,529			614,711			609,632			617,910			625,944

Residential real estate:
Residential		269,954			270,944			274,300			274,453			274,632
Construction and development		34,655			36,129			34,158			33,960			33,141
HELOC		36,734			33,838			31,357			29,766			29,044

Total Residential Real Estate		341,343			340,911			339,815			338,179			336,817

Consumer installment		4,770			4,423			4,867			4,357			4,350

Subtotals – Gross loans		1,087,675			1,108,223			1,114,058			1,121,487			1,145,060
Loans in process of disbursement		(17,836	)		(21,484	)		(20,839	)		(31,359	)		(35,404	)

Subtotals – Disbursed loans		1,069,839			1,086,739			1,093,219			1,090,128			1,109,656
Net deferred loan costs		733			702			669			649			630
Allowance for credit losses		(12,598	)		(12,597	)		(12,494	)		(12,302	)		(12,267	)

Total loans receivable	$	1,057,974		$	1,074,844		$	1,081,394		$	1,078,475		$	1,098,019

PSB Holding, Inc.
Selected Commercial Real Estate Loans by Purpose
	Sept 30,				June 30,				Mar 31,				Dec 31,				Sept 30,
(dollars in thousands)		2024				2024				2024				2023				2023

	Total Exposure		% of Portfolio (1)		Total Exposure		% of Portfolio (1)		Total Exposure		% of Portfolio (1)		Total Exposure		% of Portfolio (1)		Total Exposure		% of Portfolio (1)
Multi Family	$	140,307	14.7	%	$	146,873	15.2	%	$	142,001	14.4	%	$	132,386	13.2	%	$	133,466	13.3	%
Industrial and Warehousing		86,818	9.1			86,025	8.9			85,409	8.6			83,817	8.3			88,906	8.9
Retail		33,020	3.5			34,846	3.6			33,177	3.4			35,419	3.5			35,281	3.5
Hotels		31,611	3.3			34,613	3.6			35,105	3.6			36,100	3.6			31,819	3.2
Office		6,378	0.7			6,518	0.7			6,655	0.7			6,701	0.7			6,746	0.7

(1) Percentage of commercial and commercial real estate portfolio and commitments.

PSB Holdings, Inc.
Deposit Composition

Insured and Collateralized Deposits	September 30,				June 30,				March 31,				December 31,				September 30,
(dollars in thousands)		2024				2024				2024				2023				2023
	$		%		$		%		$		%		$		%		$		%

Non-interest bearing demand	$	210,534	18.6	%	$	202,343	17.5	%	$	199,076	17.8	%	$	197,571	17.3	%	$	209,133	17.9	%
Interest-bearing demand and savings		305,631	26.8	%		304,392	26.5	%		318,673	28.7	%		317,984	27.8	%		307,620	26.3	%
Money market deposits		138,376	12.2	%		137,637	12.0	%		143,167	12.9	%		142,887	12.5	%		135,910	11.4	%
Retail and local time deposits <= $250		155,988	13.7	%		149,298	13.0	%		148,404	13.3	%		149,145	13.1	%		144,738	12.4	%

Total core deposits		810,529	71.3	%		793,670	69.0	%		809,320	72.7	%		807,587	70.7	%		797,401	68.0	%
Retail and local time deposits > $250		23,500	2.1	%		22,500	2.0	%		24,508	2.3	%		23,000	2.0	%		22,750	1.9	%
Broker & national time deposits <= $250		1,241	0.1	%		1,490	0.1	%		2,229	0.2	%		3,470	0.3	%		3,222	0.3	%
Broker & national time deposits > $250		56,164	4.9	%		56,328	4.9	%		61,752	5.5	%		70,020	6.1	%		88,614	7.6	%

Totals	$	891,434	78.4	%	$	873,988	76.0	%	$	897,809	80.7	%	$	904,077	79.1	%	$	911,987	77.8	%

PSB Holdings, Inc.
Deposit Composition

Uninsured Deposits	September 30,				June 30,				March 31,				December 31,				September 30,
(dollars in thousands)		2024				2024				2024				2023				2023
	$		%		$		%		$		%		$		%		$		%

Non-interest bearing demand	$	54,544	4.7	%	$	48,092	4.1	%	$	48,532	4.4	%	$	69,258	6.1	%	$	79,632	6.8	%
Interest-bearing demand and savings		18,317	1.6	%		32,674	2.8	%		20,535	1.8	%		20,316	1.8	%		22,847	1.9	%
Money market deposits		157,489	13.8	%		177,954	15.4	%		124,766	11.2	%		124,518	10.9	%		133,653	11.4	%
Retail and local time deposits <= $250		–	0.0	%		–	0.0	%		–	0.0	%		–	0.0	%		–	0.0	%

Total core deposits		230,350	20.1	%		258,720	22.3	%		193,833	17.4	%		214,092	18.8	%		236,132	20.1	%
Retail and local time deposits > $250		17,329	1.5	%		19,613	1.7	%		21,710	1.9	%		23,633	2.1	%		24,120	2.1	%
Broker & national time deposits <= $250		–	0.0	%		–	0.0	%		–	0.0	%		–	0.0	%		–	0.0	%
Broker & national time deposits > $250		–	0.0	%		–	0.0	%		–	0.0	%		–	0.0	%		–	0.0	%

Totals	$	247,679	21.6	%	$	278,333	24.0	%	$	215,543	19.3	%	$	237,725	20.9	%	$	260,252	22.2	%

PSB Holdings, Inc.
Deposit Composition

Total Deposits	September 30,				June 30,				March 31,				December 31,				September 30,
(dollars in thousands)		2024				2024				2024				2023				2023
	$		%		$		%		$		%		$		%		$		%

Non-interest bearing demand	$	265,078	23.3	%	$	250,435	21.6	%	$	247,608	22.2	%	$	266,829	23.4	%	$	288,765	24.7	%
Interest-bearing demand and savings		323,948	28.4	%		337,066	29.3	%		339,208	30.5	%		338,300	29.6	%		330,467	28.2	%
Money market deposits		295,865	26.0	%		315,591	27.4	%		267,933	24.1	%		267,405	23.4	%		269,563	22.8	%
Retail and local time deposits <= $250		155,988	13.7	%		149,298	13.0	%		148,404	13.3	%		149,145	13.1	%		144,738	12.4	%

Total core deposits		1,040,879	91.4	%		1,052,390	91.3	%		1,003,153	90.1	%		1,021,679	89.5	%		1,033,533	88.1	%
Retail and local time deposits > $250		40,829	3.6	%		42,113	3.7	%		46,218	4.2	%		46,633	4.1	%		46,870	4.0	%
Broker & national time deposits <= $250		1,241	0.1	%		1,490	0.1	%		2,229	0.2	%		3,470	0.3	%		3,222	0.3	%
Broker & national time deposits > $250		56,164	4.9	%		56,328	4.9	%		61,752	5.5	%		70,020	6.1	%		88,614	7.6	%

Totals	$	1,139,113	100.0	%	$	1,152,321	100.0	%	$	1,113,352	100.0	%	$	1,141,802	100.0	%	$	1,172,239	100.0	%

PSB Holdings, Inc.
Average Balances ($000) and Interest Rates
(dollars in thousands)

	Quarter ended September 30, 2024							Quarter ended June 30, 2024							Quarter ended September 30, 2023
	Average					Yield /		Average					Yield /		Average					Yield /
	Balance			Interest		Rate		Balance			Interest		Rate		Balance			Interest		Rate
Assets
Interest-earning assets:
Loans (1)(2)	$	1,079,393		$	15,674	5.78	%	$	1,100,518		$	15,520	5.67	%	$	1,088,137		$	14,337	5.23	%
Taxable securities		177,520			1,345	3.01	%		172,563			1,295	3.02	%		173,287			1,114	2.55	%
Tax-exempt securities (2)		79,472			661	3.31	%		79,564			659	3.33	%		81,327			675	3.29	%
FHLB stock		8,825			176	7.93	%		7,931			182	9.23	%		6,368			127	7.91	%
Other		36,680			523	5.67	%		8,241			83	4.05	%		8,195			111	5.37	%

Total (2)		1,381,890			18,379	5.29	%		1,368,817			17,739	5.21	%		1,357,314			16,364	4.78	%

Non-interest-earning assets:
Cash and due from banks		17,162							17,345							19,299
Premises and equipment,
net		14,216							13,930							13,266
Cash surrender value ins		24,458							24,297							23,840
Other assets		20,485							21,865							23,782
Allowance for credit
losses		(12,598	)						(12,505	)						(11,979	)

Total	$	1,445,613						$	1,433,749						$	1,425,522

Liabilities & stockholders’ equity
Interest-bearing liabilities:
Savings and demand
deposits	$	323,841		$	1,515	1.86	%	$	331,740		$	1,467	1.78	%	$	335,214		$	1,198	1.42	%
Money market deposits		277,884			1,876	2.69	%		271,336			1,835	2.72	%		255,823			1,489	2.31	%
Time deposits		247,296			2,514	4.04	%		257,006			2,536	3.97	%		279,971			2,130	3.02	%
FHLB borrowings		182,414			2,038	4.44	%		174,596			1,860	4.28	%		134,386			1,321	3.90	%
Other borrowings		6,702			57	3.38	%		6,870			58	3.40	%		5,681			51	3.56	%
Senior sub. notes		4,779			59	4.91	%		4,777			58	4.88	%		4,772			59	4.91	%
Junior sub. debentures		12,985			252	7.72	%		12,960			255	7.91	%		12,883			255	7.85	%

Total		1,055,901			8,311	3.13	%		1,059,285			8,069	3.06	%		1,028,730			6,503	2.51	%

Non-interest-bearing liabilities:
Demand deposits		261,833							251,158							278,616
Other liabilities		13,421							12,580							12,431
Stockholders’ equity		114,458							110,726							105,745

Total	$	1,445,613						$	1,433,749						$	1,425,522

Net interest income				$	10,068						$	9,670						$	9,861
Rate spread						2.16	%						2.15	%						2.27	%
Net yield on interest-earning assets						2.90	%						2.84	%						2.88	%

(1) Nonaccrual loans are included in the daily average loan balances outstanding.
(2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%.

PSB Holdings, Inc.
Average Balances ($000) and Interest Rates
(dollars in thousands)
	Nine months ended September 30, 2024							Nine months ended September 30, 2023
	Average					Yield/		Average					Yield/
	Balance			Interest		Rate		Balance			Interest		Rate
Assets
Interest-earning assets:
Loans (1)(2)	$	1,091,366		$	46,393	5.68	%	$	1,025,955		$	38,851	5.06	%
Taxable securities		173,971			3,837	2.95	%		189,583			3,772	2.66	%
Tax-exempt securities (2)		79,822			1,986	3.32	%		81,670			2,032	3.33	%
FHLB stock		7,755			523	9.01	%		4,943			228	6.17	%
Other		18,804			784	5.57	%		8,154			303	4.97	%

Total (2)		1,371,718			53,523	5.21	%		1,310,305			45,186	4.61	%

Non-interest-earning assets:
Cash and due from banks		17,291							17,403
Premises and equipment,
net		13,778							13,311
Cash surrender value ins		24,301							24,446
Other assets		21,146							23,364
Allowance for credit
losses		(12,496	)						(12,004	)

Total	$	1,435,738						$	1,376,825

Liabilities & stockholders’ equity
Interest-bearing liabilities:
Savings and demand
deposits	$	335,317		$	4,654	1.85	%	$	350,928		$	3,286	1.25	%
Money market deposits		274,405			5,608	2.73	%		241,594			3,508	1.94	%
Time deposits		256,287			7,563	3.94	%		257,639			4,673	2.43	%
FHLB borrowings		166,703			5,348	4.29	%		110,460			3,068	3.71	%
Other borrowings		7,373			175	3.17	%		7,082			161	3.04	%
Senior sub. notes		4,778			176	4.92	%		4,965			179	4.82	%
Junior sub. debentures		12,972			758	7.81	%		12,857			731	7.60	%

Total		1,057,835			24,282	3.07	%		985,525			15,606	2.12	%

Non-interest-bearing liabilities:
Demand deposits		254,134							273,699
Other liabilities		12,720							12,165
Stockholders’ equity		111,049							105,436

Total	$	1,435,738						$	1,376,825

Net interest income				$	29,241						$	29,580
Rate spread						2.14	%						2.49	%
Net yield on interest-earning assets						2.85	%						3.02	%

(1) Nonaccrual loans are included in the daily average loan balances outstanding.
(2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%.

The MIL Network –

January 25, 2025

MIL-OSI: Helport AI to Report Fiscal Year 2024 Financial Results on Thursday, October 31, 2024

Source: GlobeNewswire (MIL-OSI)

Management to Host Business Update Conference Call on Wednesday, November 6, 2024 at 5:30 pm ET

SINGAPORE and SAN DIEGO, Oct. 28, 2024 (GLOBE NEWSWIRE) — Helport AI Limited (NASDAQ: HPAI) (“Helport” or the “Company”), an AI technology company serving enterprise clients with intelligent products, solutions and a digital platform, will report financial results for its fiscal full year ended June 30, 2024, after the market close on Thursday, October 31, 2024.

The Company will hold a Business Update Conference Call on Wednesday, November 6, 2024, at 5:30 p.m. Eastern time to discuss its financial results, recent consumption of its business combination and Nasdaq listing, ongoing initiatives and upcoming milestones.

Guanghai Li, Chief Executive Officer, and Tao Ke, Chief Financial Officer, will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

To access the call, please use the following information:

Date:	Wednesday, November 6, 2024
Time:	5:30 p.m. Eastern Time, 2:30 p.m. Pacific Time
Toll-free dial-in number:	1-800-445-7795
International dial-in number:	1-203-518-9848
Conference ID (Required for Entry):	HELPORT

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1695608&tp_key=0c8510f685 and via the investor relations section of the Company’s website here.

A replay of the webcast will be available after 9:30 p.m. Eastern Time through February 6, 2025.

Toll-free replay number:	1-844-512-2921
International replay number:	1-412-317-6671
Replay ID:	11157509

About Helport

Helport AI (NASDAQ: HPAI) is a premier provider of AI-driven solutions, specializing in enhancing professional capabilities across industries. Focused on delivering measurable outcomes, Helport AI is transforming the way businesses operate by ensuring that professionals have the tools they need to succeed. The company serves enterprise-level customer contact services through intelligent products, solutions, and a digital platform, helping businesses optimize their operations and improve customer engagement. Our mission is to Empower everyone to work as an expert. For more information, please visit Helport’s website: https://ir.helport.ai/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, Helport’s business plan and outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on Helport’s current expectations and projections about future events that Helport believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Helport undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Helport believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and Helport cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in Helport’s registration statement and other filings with the U.S. Securities and Exchange Commission.

Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
HPAI@mzgroup.us
www.mzgroup.us

The MIL Network –

January 25, 2025

MIL-OSI: AI & Technology Virtual Investor Conference Agenda Announced for October 31st

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the AI & Technology Virtual Investor Conference to be held October 31^st.

Individual investors, institutional investors, advisors, and analysts are invited to attend.

REGISTER NOW AT: https://bit.ly/3BYlp8w

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations, or schedule 1×1 meetings with management.

“We’re looking forward to hosting the upcoming AI & Technology Virtual Investor Conference,” said Jason Paltrowitz, Executive Vice President at OTC Markets Group. “A group of innovative companies and executives will have the opportunity to elaborate on their business strategies and connect directly with an expanded investor base.”

October 31^st

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

The MIL Network –

January 25, 2025
MIL-OSI: DBMM Group’s Digital Clarity to Present at the AI & Technology Virtual Investor Conference on October 31, 2024 at 12:30 pm
Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — Digital Brand Media & Marketing Group, Inc. (OTCPK: DBMM), and its flagship brand Digital Clarity, a fully integrated management consultancy, based in London and operating globally, focused on specializing in the optimal marketing of B2B tech companies, today confirmed that Reggie James, Chief Operating Officer and Director of DBMM, and Founder and Managing Director of Digital Clarity, the public company’s operating subsidiary and brand, will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com, on October 31, 2024.

DATE: October 31, 2024
TIME: 12:30 PM ET
LINK: https://bit.ly/3ASgcyv
Available for 1×1 meetings

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com

Overview
- The marketing consulting market is expected to increase by $3.83 billion in 2026, and the market’s growth momentum will accelerate at a CAGR of 4.75%. (Business Research Insight & Technavio Research).
- Global artificial intelligence (AI) in marketing market size was valued at $12.64 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 26.6% from 2023 to 2030. (Grand View Research, Inc.)
- Digital Clarity sits at the intersection of 21st century marketing strategy, data, and AI. Currently utilizing third-party, AI tools, Digital Clarity is building out its marketing strategy framework augmented with AI integration to allow companies to communicate value to their customers, at scale. Digital Clarity’s innovative approaches as the digital market continues to evolve rapidly, will give both clients and DBMM competitive advantages in their marketplaces for all stakeholders.
- DBMM is at an inflection point in its offering as a full services management consultancy and a perfect time to onboard for both clients and shareholders.
About DBMM GROUP

Digital Brand Media & Marketing Group, Inc. (DBMM) is a fully reporting US public company that trades on the Over-the-Counter (OTC) Market, with its headquarters in New York City and its 100%-owned/operating subsidiary and brand, Digital Clarity, in the UK. Digital Clarity operates globally.

DBMM is listed on the OTC as a fully reporting SEC Company. The Company intends to Uplist to the OTCQB as soon as DBMM meets the required criteria. The ultimate, longer-term goal is for the Company to Uplist to NASDAQ when it meets the required criteria.

Learn more at:
www.dbmmgroup.com
www.digital-clarity.com

About Virtual Investor Conferences^®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

CONTACTS:

DBMM Group, Inc.

Reggie James
Chief Operating Officer and Director of DBMM
+1 646-722-2706
Phone: +1 646-722-2706
Email: info@dbmmgroup.com

Virtual Investor Conferences

John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

The MIL Network –
January 25, 2025
MIL-OSI: Pineapple Subsidiary SUNation Announces Strategic Partnership With Radial Power to Expand Renewable Energy Solutions

Source: GlobeNewswire (MIL-OSI)

RONKONKOMA, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) — SUNation, the New York-based subsidiary of Pineapple Energy Inc. (Nasdaq: PEGY) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy, backup power solutions, and system servicing, today announced a strategic partnership with Houston, Texas-based Radial Power, a key player within distributed energy and a provider of sustainability solutions for commercial and industrial real estate asset owners.

This strategic partnership will harness the combined expertise of both companies to deliver innovative renewable energy solutions. It also marks a significant step in SUNation’s expansion beyond its traditional New York footprint, positioning the company for broader geographic growth.

“The commercial and industrial space is booming, largely driven by the opportunities created by the Investment Recovery Act. Our partnership with SUNation enables us to scale quickly and efficiently,” said John Bates, CEO of Radial Power. “As SUNation has successfully completed many projects and with our internal pipeline in the hundreds of megawatts, we fully expect SUNation to grow alongside us as we execute on these projects.”

About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services.

Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances, including the Company’s expectations regarding its ability to effect the reverse stock split and regain compliance with Nasdaq’s continued listing standards. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.

Safe Harbor Statement
Our prospects here at Pineapple Energy Inc. are subject to uncertainties and risks. This news release (video statement) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company’s filings with the SEC which can be found on the SEC’s website at www.sec.gov.

Contacts:

Scott Maskin
Interim Chief Executive Officer
+1 (631) 823-7131
scott.maskin@pineappleenergy.com

Pineapple Investor Relations
+1 (952) 996-1674
IR@pineappleenergy.com

The MIL Network –

January 25, 2025
MIL-OSI NGOs: FIFA/Saudi Arabia: Global law firm’s flawed human rights assessment of Saudi Arabia’s World Cup 2034 bid raises ‘deep concern’
Source: Amnesty International –

AS&H Clifford Chance’s assessment contains no substantive discussion of Saudi’s extensive and relevant abuses

11 human rights groups, football supporters and worker organisations join forces to voice deep concern

‘FIFA must insist on a proper assessment and meaningful human rights strategy or its flagship tournament will be tarnished by severe human rights violations’ – Steve Cockburn

A flawed human rights assessment of Saudi Arabia’s FIFA 2034 World Cup bid by AS&H Clifford Chance – part of the global partnership of London-based law firm Clifford Chance – leaves the global firm at risk of being linked to abuses which result from the tournament, 11 organisations said today.

AS&H Clifford Chance, which is based in Riyadh and sits within Clifford Chance’s integrated global partnership, produced an “independent human rights context assessment” that was published by FIFA and has helped pave the way for Saudi Arabia to be confirmed on 11 December as the 2034 hosts, as is widely expected to happen.

The assessment contains no substantive discussion of extensive and relevant abuses in Saudi Arabia documented by multiple human rights organisations and UN bodies. It formed the basis of Saudi Arabia’s human rights strategy for the tournament, which Amnesty International described as a “whitewash”.

The 11 organisations – which include a Saudi Arabian diaspora organisation, Gulf human rights groups, and labour organisations, as well as Football Supporters Europe, Amnesty and Human Rights Watch – wrote to Clifford Chance’s Global Managing Partner setting out in detail all of their concerns with the statement, and invited the authors to publish an updated report. The firm, which says that it works in partnership with “some of the world’s leading NGOs and civil society organisations”, said in response last week that it would be “inappropriate” to offer any further comment on the report and shared a link to publicly available company policies.

Dire human rights record

Saudi Arabia’s already dire human rights record has deteriorated under the de facto rule of Crown Prince Mohammed bin Salman, who has presided over a soaring number of mass executions, torture, enforced disappearance, severe restrictions on free expression, repression of women’s rights under the male guardianship system, LGBTI+ discrimination, and the killing of hundreds of migrants at the Saudi Arabia-Yemen border. The country’s abusive Kafala (labour sponsorship) system, as well as the prohibition on trade unions and lack of enforcement of labour laws continues to lead to the widespread exploitation of migrant workers.

The organisations have warned Clifford Chance that, through the production of its human rights assessment by AS&H Clifford Chance, there is a risk that the firm could be linked to potential adverse human rights impacts resulting from a Saudi Arabia-hosted tournament.

In their memorandum to Clifford Chance the organisations set out and requested comment on three overarching concerns about the assessment. Taken together, these fatally undermine the report’s claim to provide an independent assessment of the human rights context in Saudi Arabia, relevant to the hosting and staging of the 2034 World Cup.
- AS&H Clifford Chance agreed to a decision by FIFA and the Saudi Arabian Football Federation to effectively exclude analysis of Saudi Arabia’s record on multiple critical human rights such as freedom of expression, LGBTI+ discrimination, the prohibition of trade unions, or forced evictions – either because Saudi Arabia has not ratified the relevant treaties or because the Saudi Arabian Football Federation did not accept them as “applying”. Any assessment that does not recognise these as relevant human rights risks for a World Cup in Saudi Arabia cannot be considered credible.
- The assessment made highly selective use of the findings of UN bodies on Saudi Arabia, leaving out damaging judgements. For example, it fails to reference one UN body’s concern at receiving reports that “torture and other ill-treatment are commonly practised in prisons”, or another which notes that “women and girls who are victims of sexual abuse risk facing criminal proceedings if they press charges”. It does not mention that Saudi Arabia is currently facing a labour complaint at the UN brought by Building and Woodworkers International, an international trade union. No reports by UN Special Rapporteurs are included meaning, for example, there is no reference to the imposition of the death penalty in relation to the Crown Prince’s flagship giga-project NEOM, or the murder of Saudi Arabian journalist Jamal Khashoggi.
- There is no evidence that AS&H Clifford Chance consulted external experts, such as people who might be affected by human rights abuses linked to the tournament, Saudi Arabian human rights experts or organisations, international human rights organisations, or trade unions. No work by such groups is referenced. The report, for example, ignores Amnesty’s 2024 91-page report ‘Playing a Dangerous Game? Human Rights Risks Linked to the 2030 and 2034 FIFA World Cups’.
Amnesty has written to FIFA asking it to confirm on what basis the organisation agreed with the Saudi Arabian Football Federation to limit the scope of the rights assessment conducted by AS&H Clifford Chance. As of 25 October, FIFA had not responded.

James Lynch, FairSquare co-director, said:

“It has been clear for more than a year now that FIFA is determined to remove all potential obstacles to make sure it can hand Saudi Arabia’s Crown Prince Mohammed bin Salman the 2034 World Cup. By producing a shockingly poor report, AS&H Clifford Chance, part of one of the world’s largest law firms that makes much of its human rights expertise, has helped to remove a key final stumbling block.”

Julia Legner, Executive Director of ALQST for Human Rights, a Saudi Arabian diaspora organisation, said:

“AS&H Clifford Chance had the chance to write a credible assessment of risks that are relevant to the 2034 World Cup. Instead, they have produced an artificially limited, misleading and overly positive perspective, that serves only to whitewash the reality of abuse and discrimination faced by Saudi Arabia’s citizens and residents.”

Steve Cockburn, Amnesty International’s Head of Labour Rights and Sport, said:

“The severe risks of hosting the 2034 World Cup in Saudi Arabia are clear and well-known – without huge reforms, critics will be arrested, women and LGBTI+ people will face discrimination, and workers will be exploited on a massive scale. It is incredible that AS&H Clifford Chance omitted such glaring risks from its assessment and scandalous that FIFA paved the way for them to do so. FIFA must now insist on a proper assessment and meaningful human rights strategy or its flagship tournament will inevitably be tarnished by severe human rights violations.”

Martha Waithira, Equidem investigator, said:

“As a former domestic worker in Saudi Arabia from Kenya, I know that women like me are often treated like slaves. Women especially face sexual and other gender abuse. I’m in regular contact with workers in horrific situations in Saudi Arabia. Now, the hundreds of thousands of people expected to arrive in Saudi Arabia to build stadiums and clean hotels ahead of the World Cup are at great risk of severe exploitation and even death. How can these realities have escaped AS&H Clifford Chance’s attention?”

Stated commitments to human rights

The ‘Independent Context Assessment Prepared for the Saudi Arabian Football Federation in relation to the FIFA World Cup 2034’ can be found on FIFA’s website. FIFA’s Human Rights Policy, adopted in 2017, outlines its responsibility to identify and address adverse human rights impacts of its operations, including taking adequate measures to prevent and mitigate human rights abuses.

Clifford Chance is one of the world’s largest law firms. It has made multiple commitments concerning its human rights responsibilities, including in its company code. The firm states on its global website that its client base in Saudi Arabia, delivered “through AS&H Clifford Chance” includes “key Saudi Ministries and government-owned entities as well as a wide range of government owned, privately and publicly held Saudi and international businesses, listed companies and financial institutions.” These Saudi clients include the Public Investment Fund. AS&H Clifford Chance is a joint venture between Clifford Chance and AS&H that has been registered in Saudi Arabia since 2023. It is integrated within Clifford Chance’s global firm, “follows [the global firm’s] processes and practices”, and employs a number of Clifford Chance partners, including a “Senior Clifford Chance partner”. The Independent Context Assessment refers readers to the global Clifford Chance website.

Full list of signatories:

FairSquare

ALQST for Human Rights

Amnesty International

The Army of Survivors

Building and Woodworkers International

Equidem

Football Supporters Europe

Gulf Centre for Human Rights

Human Rights Watch

Middle East Democracy Center

Migrant-Rights.org
MIL OSI NGO –
January 25, 2025
MIL-OSI Global: Michiganders or Michiganians? A linguist explains why the answer is clear
Source: The Conversation – USA – By Robin Queen, Professor of Linguistics, English Language and Literatures and Germanic Languages and Literatures, University of Michigan

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

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

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

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

Even though it may seem rather trivial, there is endless interest in the Michigander-Michiganian question. News articles about this topic pop up fairly regularly, inevitably stating that:
1. Both terms are recognized.
2. Abraham Lincoln coined “Michigander” in 1848 to insult Michigan Gov. Lewis Cass, implying he was silly, weak and unserious.
3. Govs. James Blanchard, John Engler and Jennifer Granholm used “Michiganian,” while Govs. Rick Snyder and Gretchen Whitmer prefer “Michigander.”
4. The debate about which term is correct is ongoing.
For the most part, though, the debate seems long over. Many Michiganders haven’t heard of Michiganian, as a recent text thread with my 19-year-old neighbor illustrates:

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

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

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

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

Rooted in an insult

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

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

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

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

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

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

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

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

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

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

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

Funny or sexist?

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

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

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

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

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

So, why hang on to Michigander?

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

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

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

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

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

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

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

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

– ref. Michiganders or Michiganians? A linguist explains why the answer is clear – https://theconversation.com/michiganders-or-michiganians-a-linguist-explains-why-the-answer-is-clear-241664
MIL OSI – Global Reports –
January 25, 2025
MIL-OSI United Kingdom: Chancellor: “We will build a Britain where those who can work, will work”
Source: United Kingdom – Executive Government & Departments

Ahead of Budget later this week, the Chancellor pledges work and welfare overhaul so people who can work, do work.
£240 million Get Britain Working package to include work, skills and health support for disabled people and long-term sick.

Benefit reform to be accelerated from this autumn to give more people access to employment support.

Ahead of the Budget, the Chancellor has unveiled a £240 million cash-injection to accelerate the rollout of local services to help people back into work and drive down inactivity.

The intervention comes as stark figures show that the UK remains the only G7 country that has higher levels of economic inactivity now than before the pandemic, with 2.8 million people out of work due to long-term sickness, which is holding back productivity and stunting growth.

The funding is partly set to go towards boosting the rollout of Get Britain Working “trailblazers” in local areas, which will bring together and streamline work, health, and skills support to disabled people and those who are long term sick.

These trailblazers will focus on reaching people who are not normally in touch with the system, by enabling local areas to help them access existing support in skills, education, employment, or health but also testing new early interventions targeted at the specific barriers they are facing to work.

Recognising that poor health is a key driver of economic inactivity, these trailblazers will also ensure work and skills support is better integrated with the health service, to ensure people get the joined-up health and employment support they need to get back into work and stay in work.

The government will also work in close partnership with mayors to develop these trailblazers, to ensure these local services are tailored to meet the unique employment and inactivity challenges in different areas.

Benefit reform is also set to be accelerated this year, with 800,000 people on the old Employment and Support Allowance (ESA) benefit to be moved onto Universal Credit (UC) from this autumn instead of 2028.

This move will bring more people into a modern benefit regime, continuing to ensure they are supported to look for and move into work.

It comes ahead of the Get Britain Working White Paper – set to be unveiled later in the Autumn – which will set out the government’s ambitious plans for reform to break down barriers to work.

The reforms will be underpinned by an approach of high expectation and high support as well as a belief in mutual obligations: the responsibility to work if you can, backed up by proper support and real opportunities to get a decent job.

Chancellor of the Exchequer, Rachel Reeves said:

Due to years of economic neglect, the benefits bill is ballooning. We will build a Britain where people who can work, will work, turning the page on the recent rise in economic inactivity and decline and towards a future where people have good jobs and our benefits bill is under control.

Work and Pensions Secretary, Liz Kendall said:

Millions of people have been denied the opportunity to build a better life. This includes one-in-eight young people who have had their hopes of a brighter future dashed and written off before they’ve even begun.

Through our Get Britain Working plan, we will ensure every young person is supported to find earnings or learning, while our new jobs and careers service will transform opportunity for all, as we deliver the fundamental reforms needed to tackle spiralling inactivity, grow the economy, and take our first steps to our ambitious 80 per cent employment rate.

Unlocking barriers to work and tackling inactivity is at the heart of plans to improve living standards for everyone across the country and delivering on the central mission of driving growth.

By creating more good jobs through investment, reforming employment support, fixing our NHS, making work pay through our Employment Rights Bill, and devolving power out of Westminster as set out in our forthcoming English Devolution White Paper, we will ensure many more people can benefit from the dignity and purpose that comes with work.

These reforms will support more people into jobs alongside the Plan to Make Work Pay, that will make sure that those jobs provide security, a decent wage, and the genuine two-sided flexibility needed so people can thrive at work.

This plan is central to the Government’s efforts to repair the damage done to the economy, fix its foundations, and rebuild Britain so it becomes a country of growth, not decline.

Shevaun Haviland, Director General of the British Chambers of Commerce said:

The high number of working age people who are economically inactive is a real and daily concern to employers. Many firms are struggling to fill job vacancies, and this is constraining their operations and profitability.

We welcome further cash investment into tackling economic activity. Businesses will be pleased to hear about plans to improve skills, health and employment support for people who want to work – alongside support for young people to start and build their careers.

It’s important these changes are delivered quickly to help firms develop thriving workforces, so they can grow and invest further in the years to come.

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Published 28 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI: Array Acquires Payitoff to Strengthen its Intelligent Debt Management Offerings
Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — Money 20/20 Conference – Array, a leading embedded consumer products platform, announced the acquisition of Payitoff, a pioneer in embedded debt guidance solutions. This acquisition fortifies Array’s position as the industry leader in intelligent debt management solutions, empowering financial institutions, fintechs, and digital brands with seamless, no-code debt management tools that improve consumer outcomes, accelerate growth efforts, and unlock new revenue streams.

Payitoff was founded by Bobby Matson, who created the company out of a personal need to manage his family’s student loans and other debt in order to buy a home. His team first launched student loan management before broadening its offerings to encompass a comprehensive suite of debt management tools. These user-friendly, embeddable tools seamlessly integrate into digital platforms without the need for complex coding, empowering financial institutions, fintechs, and digital brands to elevate their consumers’ financial experiences.

The company has gained significant market traction, including wins with Earnest, EarnUp, Greenpath, LendKey, Splash Financial, and U.S. Bank, resulting in over 200,000 loans managed by Payitoff with a combined value of over $1.5 billion. These companies value the ability to add debt management features into their digital experience without the need to build the product themselves.

Consumers can quickly link their debt accounts, explore repayment options, choose the most suitable plan, and apply—all within a few minutes. For student loans, a recent analysis found that users can save an average of $323 per month* that can be invested in other ways.

“Financial institutions and other providers of financial products in digital experiences realize that helping their consumers better understand and manage their debt is a powerful way to increase deposits, revenue, and brand loyalty,” said Martin Toha, Founder and CEO of Array. “We acquired Payitoff because our companies have a shared vision to provide seamless, embeddable products that fuel financial progress. This provides our clients with the best of all worlds: bringing valuable products to market faster without additional resources and overhead.”

“The opportunity for impact between Array and Payitoff is massive,” said Bobby Matson, CEO of Payitoff. “Student loan payments resumed a year ago, and with delinquencies starting to impact borrowers’ credit this month, the timing of this acquisition couldn’t be more critical. Array’s reach, combined with our debt management tools, will empower financial institutions and fintechs to help their consumers manage debt and save thousands—all with a seamless integration.”

Payitoff Expands Array’s Private-Label Offerings
The Array platform helps companies drive engagement and revenue by monetizing traffic private-labeled financial, identity and privacy protection products that build brand loyalty with users and help them take control of their financial lives. These products include:
- My Credit Manager helps consumers view, understand, and manage their credit information. They can receive score change alerts, interact with a score simulator, and view credit score factors and debt analysis components.
- Identity Protect includes identity monitoring, insurance, and restoration services that help keep users safe from fraud. It also features dark web monitoring, alerts, and identity theft restoration services.
- Privacy Protect offers consumers the most effective data removal – more than 200 million records to date and assisting more than 4 million individuals.
- Subscription Manager is an embeddable, private-label app that helps financial institutions, fintechs, and digital brands attract and retain consumers by providing insight into and control over recurring payments.
- BuildCredit Rent helps consumers build credit or establish credit history when they opt to share their rent payments with a credit bureau.
*Represents actual average savings of borrowers who linked their account with Payitoff and qualified for a federal repayment plan. The sample is based on an aggregated set of data representing over $1.5 billion in loan volume across 215,000+ loans on the Payitoff platform.

About Array
Array fuels financial progress for many of the world’s leading fintechs, financial institutions, and digital brands with a suite of private-label fintech solutions that can be easily embedded. Array drives engagement and revenue for clients by helping them stand out in a crowded market and forge deeper relationships with their customers. More than a suite of products, we’re building a platform to help consumers own their financial future. Array was founded in 2020 by Martin Toha and its investors include Battery Ventures, General Catalyst, and Nyca Partners. To learn more visit www.array.com.

Media Contacts

Kurt Foeller, Array
press@array.com

The MIL Network –
January 25, 2025

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

Source: GlobeNewswire (MIL-OSI)

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

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

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

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

ABOUT ORMAT TECHNOLOGIES

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

ORMAT’S SAFE HARBOR STATEMENT

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

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

Ormat Technologies Contact:
Smadar Lavi
VP Head of IR and ESG Planning & Reporting
775-356-9029 (ext. 65726)
slavi@ormat.com

Investor Relations Agency Contact:
Alec Steinberg or Joseph Caminiti
Alpha IR Group
312-445-2870
ORA@alpha-ir.com

The MIL Network –

January 25, 2025

MIL-OSI Economics: Samsung TV Plus Hits 88 Million Monthly Active Users

Source: Samsung

As streaming expands consumer options and access to premium content, Samsung TV Plus, Samsung’s free ad-supported TV (FAST) and on-demand (AVOD) service, has seen remarkable growth. Now with 88 million monthly active users and an over 50% increase in global viewership YoY, Samsung TV Plus’ audience scale and engagement make it the #1 app in the U.S. on the #1 TV brand.
The service’s rapid expansion has been fueled by its core U.S. user base of Gen Zers, Millennials, and Gen Xers, who over-index in the key advertising 18-49 demographic. Samsung TV Plus continues to strengthen its global presence with recent launches in Singapore and the Philippines, and is soon to launch in Thailand, expanding its availability to 30 territories worldwide.
As viewers grow wary of rising subscription prices and continue to pour into free alternatives, major publishers and content owners have embraced the opportunities in FAST and AVOD. Samsung TV Plus has become a key pillar in the distribution strategies of many of the world’s most established media companies, sports leagues, independent studios, and creators.

With a wealth of free premium content, Samsung TV Plus has carved out a unique offering across a wide array of genres with more than 3,000 channels and tens of thousands of on-demand options that keep audiences coming back. The service’s viewership growth is propelled by increased consumption across both linear and AVOD, with on-demand viewing surging more than 400% YoY globally, and making it an even more powerful engine for audience engagement.
“The success of Samsung TV Plus reflects our commitment to delivering a superior user experience with high-quality content that resonates with consumers. When we embarked on this ambitious journey, our vision was to offer a premium streaming alternative that was both simple to use and free. The strategic bets we made nearly a decade ago have established a strong foundation for a service now enjoyed by 88 million streamers each month, and the path ahead is bright and promises continued growth well into the future,” said Salek Brodsky, Senior Vice President & General Manager at Samsung TV Plus.

For advertisers, Samsung TV Plus brings together curated fan-favorite content with the sophisticated audience targeting and full-funnel performance marketing and measurement capabilities of digital. In addition to over-indexing in the 18-49 demographic, Samsung TV Plus also over-indexes on primetime and late-night viewing in the U.S. Samsung Ads offers several innovative ad solutions on Samsung TV Plus, ranging from Contextual Audience Collectives around top-performing content genres to interactive shoppable ad and gaming experiences designed to drive outcomes.
“As the ad-supported streaming ecosystem continues to surge in popularity, Samsung TV Plus has emerged as a clear favorite among viewers across key demographics, with advertisers in prime verticals already leveraging its immense opportunity,” said Michael Scott, Vice President, Head of Ad Sales & Operations, Samsung Ads. “With today’s announcement, it’s evident that our viewers continue to be super leaned in and engaged, choosing to return time and time again. For advertisers looking to drive outcomes and prove results, Samsung TV Plus brings together the best of TV and streaming to offer an effective and measurable performance-driven solution.”

MIL OSI Economics –

January 25, 2025
MIL-OSI Global: Why donors should ask local communities what matters to them while deciding what success looks like

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

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

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

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

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

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

Promoting environmental sustainability

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

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

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

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

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

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

Measuring success in terms that make sense to locals

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

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

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

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

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

Finding participatory approaches

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

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

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

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

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

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

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

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

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

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Why do we use gasoline for small vehicles and diesel fuel for big vehicles?
Source: The Conversation – USA – By Michael Leamy, Woodruff Endowed Professor of Mechanical Engineering, Georgia Institute of Technology

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

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

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

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

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

Let’s start with what they have in common. Gas and diesel engines both work through a process called internal combustion.
- First, they mix fuel with air because the fuel needs oxygen from the air to burn.
- Next, they compress the fuel-air mixture, which makes the mixture hot enough to burn.
- Then the engine burns the mix of fuel and air, releasing heat. This creates high pressure, which moves internal parts that make the car move.
- Finally, the car releases spent combustion gases to the atmosphere through its tailpipe. These gases contain pollutants, such as carbon monoxide, nitrogen oxides and unburned fuel, that are harmful to human health, as well as carbon dioxide, which warms Earth’s atmosphere.
How a gas-powered internal combustion engine converts chemical energy in gasoline into kinetic energy that makes the car move.

Different engines for different jobs

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

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

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

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

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

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

Beyond internal combustion engines

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

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

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

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

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

– ref. Why do we use gasoline for small vehicles and diesel fuel for big vehicles? – https://theconversation.com/why-do-we-use-gasoline-for-small-vehicles-and-diesel-fuel-for-big-vehicles-235084
MIL OSI – Global Reports –
January 25, 2025
MIL-OSI Global: LGBTQ+ voters in these 4 states could swing the 2024 presidential election

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

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

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

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

So, how might LGBTQ+ voters swing these states?

LGBTQ+ voting behavior, explained

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

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

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

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

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

LGBTQ+ voters and partisanship

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

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

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

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

LGBTQ+ voters in ‘tipping-point’ states

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

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

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

Georgia now has 16 electoral votes following a population increase.

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

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

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

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

Possible X factors

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

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

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

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

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

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

What to expect on election night

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

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

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

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

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

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

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

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Video: Army BTS: SGT STOUT

Source: US Army (video statements)

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

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

About the U.S. Army:

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

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

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

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

MIL OSI Video –

January 25, 2025
MIL-OSI Europe: Enhanced partnership in trade and the digital and green transition were discussed during Nigerian Vice President’s visit to Sweden
Source: Government of Sweden

Enhanced partnership in trade and the digital and green transition were discussed during Nigerian Vice President’s visit to Sweden – Government.se
Article from Ministry for Foreign Affairs

Published 28 October 2024

On 17–18 October, Nigerian Vice President Kashim Shettima visited Sweden to enhance cooperation in trade and investment, regional security and global issues. Minister for Foreign Affairs Maria Malmer Stenergard hosted the visit, which is an important step in strengthening the ties between the countries – not least by exploring new opportunities for cooperation in business and innovation.

When Nigerian Vice President Kashim Shettima visited Sweden, Minister for Foreign Affairs Maria Malmer Stenergard hosted the visit.

Photo: Frida Drake/Government Offices

Minister for International Development Cooperation Benjamin Dousa had a separate meeting with and Minister of Communications, Innovation and Digital Economy Bosun Tijani.

Photo: Frida Drake/Government Offices

Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch met Nigerian Vice President Kashim Shettima and discussed trade issues.

Photo: Frida Drake/Government Offices

“Nigeria is undertaking an extensive green and digital transition and there are great opportunities for Swedish companies to contribute. Nigeria is a major regional and global power with a rapidly growing population. It was very valuable to have the chance to discuss enhanced cooperation in trade with Vice President Shettima, who also demonstrated impressive knowledge of Swedish history,” said Ms Malmer Stenergard.

Nigeria is an important trade partner to Sweden in sub-Saharan Africa and is expected to be the world’s third most populous country by 2050. Sectors such as energy, information and communication technologies, environmental technology, urban planning and infrastructure hold special interest – areas in which Sweden has much to offer. At present, around 40 Swedish companies operate in Nigeria and provide solutions ranging from 5G-technology and sustainable transport to renewable energy. This cooperation is paving the way for further Swedish investments and partnerships in the country.

“As a forerunner in an IT-driven economy in various sectors, Nigeria is well-positioned to become West Africa’s technological hub. There are numerous newly started businesses and technological development and innovation centres that showcase a rapidly growing industry. This is an opportunity that Swedish companies cannot afford to miss,” said Minister for International Development Cooperation Benjamin Dousa.

Mr Shettima and his delegation met with several Swedish companies and other key actors during their visit to Sweden. The delegation included Executive Governor of Plateau State Caleb Manasseh Mutfwang, Nigerian Minister of Foreign Affairs Yusuf Tuggar and Minister of Communications, Innovation and Digital Economy Bosun Tijani.

Mr Shettima was also received by the Crown Princess and met with Prime Minister Ulf Kristersson, where issues regarding enhanced exchange and common global challenges were discussed. He also met with Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch to discuss trade issues. Trade and investment, regional security and global issues were discussed during a lunch with Ms Maria Malmer Stenergard. Mr Dousa had a separate meeting with Mr Tijani.
MIL OSI Europe News –
January 25, 2025
MIL-OSI USA: This Week in NJ – October 25th, 2024

Source: US State of New Jersey

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

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

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

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

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

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

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

These Bipartisan Infrastructure Law funds will flow through the Clean Water and Drinking Water State Revolving Funds (CWSRF and DWSRF), a long-standing federal-state water investment partnership. This multibillion-dollar investment will fund state-run, low-interest loan programs that address key challenges in financing water infrastructure. This announcement includes allotments for New Jersey’s Bipartisan Infrastructure Law Clean Water General Supplemental funds totaling $101 million, Emerging Contaminant funds totaling $8.7 million, and $13.6 million in funds under the Drinking Water Emerging Contaminant Fund.

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

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Governor Murphy Announces Planned Innovation Center Based in Newark

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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MIL OSI USA News –

January 25, 2025
MIL-OSI Global: Kamala Harris is being called ‘Jezebel’ – a Biblical expert explains why it’s a menacing slur

Source: The Conversation – UK – By M.J.C. Warren, Senior Lecturer in Biblical and Religious Studies, University of Sheffield

lev radin/Shutterstock

Jezebel has long been used as a slur against women who are considered too self-confident, too independent or too close to power – particularly when they happen to be Black. From Beyonce to Nikki Minaj, US vice-president and Democratic Presidential candidate Kamala Harris is only the latest in a long line of women of colour to be on the receiving end of the slur.

But beneath the use of Jezebel’s name as a way to paint powerful women as promiscuous lies something even more sinister: the threat of sexual violence for those who will not submit to white patriarchal control.

An increasing number of Christian nationalist personalities have taken to claiming that the vice-president is a Jezebel spirit. Notably, televangelist Lance Wallnau appears in multiple videos on X (formerly Twitter) claiming that: “with Kamala you have a Jezebel spirit, a characteristic in the Bible, that is a Jezebel spirit. The personification of intimidation, seduction, domination and manipulation”.

Nor is Wallnau shy about connecting his use of Jezebel to Harris’s race: according to his video, the fact that Harris is Black makes her even more of a seductive Jezebel than Hillary Clinton: “the spirit of Jezebel in a way that will be even more ominous than Hillary [Clinton] because she’ll bring a racial component, and she’s younger”.

Jezebels old and new

Different versions of Jezebel are found in the Old and New Testaments, but both are associated with power, independence and sexuality. In 1 Kings, Jezebel is a queen from Sidon (present-day Lebanon). She ruled along with her husband Ahab and refuses to worship the biblical God; she continued her traditional worship of Ba’al.

Her authority in her marriage and in politics attracted the prophet Elijah’s negative attention. Elijah utters a prophecy that: “The dogs shall eat Jezebel” (1 Kings 21:23), and indeed, 2 Kings 9:32-37 says that the prophecy is fulfilled.

Knowing her life is in danger, Jezebel puts on her make up and does her hair to prepare to meet her enemy.

As religious studies academic Jennifer L. Koosed writes, while her self-beautification is used to sexualise Jezebel, “these acts are those of a proud and powerful queen” who boldly meets the man who is about to have her thrown from a window. Jezebel’s bloodied body is trampled by horses and her corpse utterly destroyed.

Her violent death and the desecration of her body, which is consumed by dogs, dehumanises Jezebel. The Bible presents this as apt punishment for a woman who was so bold as to defy her husband’s traditions and maintain her independence.

When we meet another Jezebel in the New Testament, the process begins again. In Revelation 2, Jezebel is a prophet, a rival of John the Seer, who travels to different early Christian communities and teaches them. John, the author of the Book of Revelation, imagines Jesus writing to the community who allow themselves to be taught by her. In that letter, the voice of Jesus declares that the punishment for this woman, who dares to be a leader, is rape. John uses vitriolic language to paint Jezebel as sexually immoral, but his complaint is with her authority.

Long and damaging history

The Bible frequently paints female characters as unacceptably sexual, or threatens them with sexual violence, in order to maintain its patriarchal hierarchy.

Definition of the word Jezebel in a religious dictionary.
Shutterstock

For example, as biblical scholars such as Renita J. Weems have pointed out, Hosea 1-3 uses the metaphor of God as (abusive) husband and the people of Israel as their (abused) adulterous wife in order to convince the Israelites to worship God again.

The infamous figure of the “Whore of Babylon” in Revelation 17-18 echoes that divine threat: her control over the kings of the world, her opulence and her sexuality all make her God’s enemy – and her punishment is sexual humiliation and violence.

Kamala Harris has been labelled Jezebel since at least as early as 2021 when pastor Steve Swofford as “Jezebel Harris” and pastor Tom Buck tweeted: “I can’t imagine any truly God-fearing Israelite who would’ve wanted their daughters to view Jezebel as an inspirational role model because she was a woman in power.”

Buck doubled down on his comments the next day, saying, “For those torn up over my tweet, I stand by it 100%. My problem is her godless character. She not only is the most radical pro-abortion VP ever, but also most radical LGBT advocate. She performed one of the first Lesbian ‘marriages.’ Pray for her, but don’t praise her!”

Understood in the context of the attack on women’s rights by Christian nationalists and their allies, giving Harris the name Jezebel connects the biblical threats with the move to criminalise abortion access and even divorce – to take power away from women and restore it to the patriarchal Christian structure.

While Jezebel is a clearly misogynist term, it has long been used in particular to dehumanise Black women. Racist stereotypes about Black women as hypersexual Jezebels were used by slavers to justify their rape of enslaved women. Even after the end of slavery, this use of the name persisted, as did the racist stereotype about Black women’s sexual availability to justify sexual violence. And Black women continue to experience sexual harassment and abuse at much higher levels than white women.

So, when Christian nationalists urge their followers to “confront this Jezebel spirit” we can’t forget that confronting Jezebel is violent – in the Bible confronting Jezebel means her death or her rape. These veiled threats should not be taken lightly.

Femicide is an ongoing crisis. A woman is killed by a man every three days in the UK and three women are killed by men every day in North America. Sexual violence against women is also rampant and is a weapon in the patriarchal arsenal for subduing independent women.

Calling a powerful woman like Harris a Jezebel, then, isn’t just an offensive slur – it carries with it the persistent threat of racist violence and sexual assault.

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

– ref. Kamala Harris is being called ‘Jezebel’ – a Biblical expert explains why it’s a menacing slur – https://theconversation.com/kamala-harris-is-being-called-jezebel-a-biblical-expert-explains-why-its-a-menacing-slur-241746

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Is targeting UN peacekeepers in Lebanon a war crime? Here’s what international law says

Source: The Conversation – UK – By Giacomo Biggio, Lecturer in Law, University of Bristol Law School, University of Bristol

Recent incidents involving the Israel Defense Forces (IDF) and the United Nations Interim Forces in Lebanon (Unifil) have raised an important question. Can Israel lawfully target UN peacekeepers and premises in Lebanon, or would that constitute a war crime? To answer that question, it’s worth looking at the rules of International Humanitarian Law and how they relate to these apparent attacks by the IDF.

First though, some background. Since Israeli troops entered Lebanon on October 1, there have been a number of incidents where IDF units have apparently targeted Unifil positions in southern Lebanon. This happened most recently on October 20, when the UN reported that “an IDF bulldozer deliberately demolished an observation tower and perimeter fence of a UN position” in Marwahin, near Lebanon’s border with Israel.

Israel has repeatedly called for Unifil units to withdraw from the area. But, according to a UN statement of October 22: “Despite the pressure being exerted on the mission and our troop-contributing countries, peacekeepers remain in all positions.” The UN statement added that: “breaching a UN position and damaging UN assets is a flagrant violation of international law and Security Council resolution 1701. It also endangers the safety and security of our peacekeepers in violation of international humanitarian law.”

Getting to grips with the legal position involved here begins by looking at the principle of “distinction”. This requires a party to the conflict to distinguish at all times between civilian and combatants, and between civilian objects and military objectives.

A combatant is everyone who is a member of the armed forces of a party to the conflict, with the exception of medical and religious personnel. In turn, the notion of armed forces comprises all organised armed forces, groups and units which are under a command responsible to that party for the conduct of its subordinates. Everyone who falls outside this category is considered a civilian.

It’s a fundamentally important distinction. Combatants can be killed unless they are hors de combat (captured, trying to surrender or incapacitated). Civilians, meanwhile, enjoy absolute protection from attack and cannot intentionally be targeted unless they take a direct part in hostilities.

Civilians or combatants?

So, are Unifil peacekeepers combatants or civilians? Despite Unifil being armed and under military command, it is a peacekeeping force and not a party to the conflict. Unifil is mandated by UN security council resolution 1701. It operates with the consent of its host state, Lebanon, and in accordance with the principles of neutrality, impartiality and limited use of force.

Since the war between Israel and Hezbollah ended in 2006, its job has been to confirm Israel’s withdrawal from southern Lebanon, ensure that the government of Lebanon exercises effective authority in the area and prevent the entry of weapons into the region. Crucially, Unifil is not engaged in hostilities with either the IDF or Hezbollah. So it is not a party to the conflict.

From this it follows that Unifil peacekeepers must be considered civilians and enjoy protection from attack. So they cannot be intentionally attacked by the IDF unless they engage in conduct amounting to “direct participation in hostilities” (DPH).

The state of the conflict in southern Lebanon, October 22 2024.
Institute for the Study of War

For conduct to qualify as DPH, it must either kill or injure a party to an armed conflict, or destroy or damage a protected object. This must be deliberate, intentional and result directly from the action of the person accused.

In practice, this means that a peacekeeper would be committing DPH by, for example, shooting on IDF soldiers with the intent of affecting their military operations. If that was the case, a peacekeeper would lose protection from attack, but only for the time they engage in the conduct amounting to DPH. After this conduct has ended, they would regain protection from attack.

Crucially, Unifil peacekeepers have never fired on IDF soldiers. If they did perhaps return fire from IDF soldiers, they would acting in self defence, rather than with the intention of affecting the IDF’s military operations. So their actions would not be sufficient for them to be regarded as combatants and they’d still be protected as civilians.

What is a legitimate military target?

The same conclusion can be reached with regards to IDF attacks on Unifil’s premises. These qualify as civilian objects and are protected from direct attack. Only military objectives are legitimate targets because, according to IHL, they make “an effective contribution to military action” and their capture, destruction or neutralisation offers a definite military advantage.

Clearly, that is not the case for Unifil posts. So attacking Unifil peacekeepers and premises would violate the principle of distinction and qualify as a war crime under the Rome Statute of the International Criminal Court. So, intentionally demolishing a Unifil watchtower with an IDF bulldozer, as happened recently, appears to qualify as a war crime, despite the claim that there was a Hezbollah weapons cache near the watchtower.

It’s worth adding that peacekeepers and their premises must be the intended target of the attack for it to be a violation of the principle of distinction. If the IDF’s target was – as claimed – a nearby Hezbollah weapons cache, which clearly qualifies as a military objective, any resulting damage to peacekeepers or their premises must be evaluated under the principle of “proportionality” and must not exceed the military advantage anticipated from the attack. Once again, launching an attack with the knowledge it would cause excessive incidental damage would amount to a war crime.

In the confusion of an IDF offensive in southern Lebanon it’s impossible to ascertain all the details beyond reasonable doubt. Knowing what actually happened is one thing. But once the fog of war lifts and the details become clear, so will the judgment of international law.

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

– ref. Is targeting UN peacekeepers in Lebanon a war crime? Here’s what international law says – https://theconversation.com/is-targeting-un-peacekeepers-in-lebanon-a-war-crime-heres-what-international-law-says-241849

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Class identity: why fancy freebies are a bigger political problem for this Labour government than its Tory predecessors

Source: The Conversation – UK – By Vladimir Bortun, Lecturer in Politics, University of Oxford

While much of the intense media coverage of the UK government’s freebies scandal might be attributable to overzealous scrutiny by a predominantly right-of-centre printed press, there is at least one important issue at the heart of all this.

It should be acknowledged that the gifts are in line with existing regulations – and also arguably less controversial than some of the donations received by members of former Conservative governments. But this Labour government sold itself as something different.

Several frontbench figures, including prime minister Keir Starmer and deputy prime minister Angela Rayner focused heavily on their working-class credentials ahead of the election. They were doing so to reinforce the message that they are infinitely more in tune with regular people than the Tories.

Several Labour ministers have accepted donations and freebies from big business and wealthy individuals. Lord Alli lent Starmer his £18m London flat and a New York property to Rayner for a holiday. Several Labour MPs were given tickets to Taylor Swift concerts, and perhaps more importantly, £4 million was donated to the Labour party by Quadrature – a tax-haven-based hedge fund with shares in the arms manufacturing, private healthcare and fossil fuel industries.

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The obvious question is why these companies and wealthy individuals have made these donations and what they expect in return. People don’t make political donations out of the kindness of their hearts. They often expect something in return, whether in the form of a seat in the House of Lords or a lucrative state contract.

Even in cases where there is no reciprocity, there are deeper questions of professional and political ethics that arise from donations. And fair or not, those questions are more pressing for a Labour government.

There is, first of all, a matter of perception during a cost of living crisis. Labour MPs have just voted to keep the two-child benefit cap and remove universal winter fuel payments. Against this backdrop, it’s not a stretch to suggest accepting glamorous gifts creates a distance between lawmakers and the people they govern.

But beyond that perception is the fact that living a privileged life may have a material effect on an MP’s outlook. There is a significant body of evidence showing that upward social mobility leads people towards more rightwing views on the economy.

That may be particularly true of politicians. For this group, the trajectory is the most extreme. If you start from a working-class position in society and end up being part of the group that effectively leads that society, your vantage point could not be more different. You are less likely to try to change the status quo that is now the source of your own social and financial benefits.

To be fair, research my colleagues and I conducted shows that working-class origins have a lingering effect on an MP’s outlook when they enter parliament. They are more likely to take an interest in issues that are important to working-class voters, for example.

But this effect is diluted by party discipline, such as when MPs are whipped to vote in a certain way (such as on benefits). Social mobility, and in particular a simmering angst about falling back down the social ladder, also shapes these MPs’ decisions.

Closing the experience gap

It doesn’t have to be this way. In the 1980s, one of the most leftwing and working-class Labour MPs at the time, Terry Fields, ran and won an election on the slogan “a worker’s MP on a worker’s wage” – pledging to only draw a salary equivalent to a fireman’s and to donate the remainder.

While this could be dismissed as performative populism from a politician looking to prove that he’s a “man of the people”, there is a deeper rationale at work here. Arguably, you can’t truly represent the interests of working-class people if you live in considerably better material conditions, cut off from the daily experience and living standards of those people.

How can you fully understand what working-class people and communities go through and, thereby, what kind of policies they need, if you live in a parallel reality to theirs?

Read more:
What does class mean today in Britain? Podcast

This is not to argue that MPs should give up their salaries or that they’re incapable of empathy, but it does show why freebies are such a glaring problem for a new government.

Working-class people have, themselves, indicated that this experience gap matters to them. Their political alienation over the past few decades has been fuelled by their sense that they do not recognise themselves in the current political elite and the inequality-enhancing policies the elite have been enacting.

The last election recorded one of the highest abstention rates (and according to at least one estimate, actually the highest) since the introduction of universal suffrage.

And should a political party remain unmoved by those statistics, there is the small matter of electoral survival. Taken more cynically, working-class communities have become the electoral battlegrounds of the modern era.

There are not many promising signs so far that the new Labour government is up to the task of representing the working class once again – even the recent workers’ rights legislation has been criticised as falling short by some of the trade unions. And while there’s a long way to go before we know if the freebies scandal will end up costing Labour support at the next election, it certainly won’t be counted as a bonus.

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

– ref. Class identity: why fancy freebies are a bigger political problem for this Labour government than its Tory predecessors – https://theconversation.com/class-identity-why-fancy-freebies-are-a-bigger-political-problem-for-this-labour-government-than-its-tory-predecessors-241619

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI USA: When Loans Become Cheesy

Source: US Global Legal Monitor

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

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

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

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

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

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MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Be Aware of World Series Ticket Scams
Source: US State of New York

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

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

TIPS TO AVOID TICKET SCAMS:
- Purchase from the venue: Many official ticket sales agents now offer secondary sales options, as well.
- Verify the seller: You can look up the seller on VerifiedTicketSource.com to confirm you are buying from a National Association of Ticket Brokers-member resale company, which requires its members to guarantee that every ticket sold on their websites is legitimate. Beware of fake websites impersonating a legitimate ticket seller; check the URL for accuracy.
- Buy only from trusted sources: Buy only from vendors you know and trust. Be especially wary of online marketplaces like Craigslist, Facebook Marketplace and other social media sites, as they are ripe with scammers peddling bogus tickets. Also avoid the so-called ticket scalpers who approach you outside the event gates, since it’s easy for scammers to sell you a fake ticket and disappear.
- Use payment methods that come with protection: Always use a credit card or PayPal goods and services payment option so you may have some recourse if the tickets are not as promised. Debit cards, wire transfers, or cash transactions are risky; if the tickets are fraudulent, you won’t be able to get your money back.
- Beware of low prices: When you search the web for online tickets, advertisements for cheap tickets will often appear. Use good judgment; some ads will be ticket scams, especially if the prices are low. If it looks too good to be true, it’s probably a scam.
- Use a strong password: Many stadiums and venues have gone to only accepting digital tickets, which can only be accessed through an app. Be sure to use a strong password to ensure a scammer can’t hack into your account and steal your ticket.
New York State Secretary of State Walter T. Mosley said, “As tickets sell out and excitement runs high, scammers will try to take advantage of fans still looking to buy tickets. Fans looking to score last-minute seats for this iconic match up should follow our Division of Consumer Protection tips to avoid being scammed. And lastly, let’s go Yankees!”

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

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

MIL OSI USA News –
January 25, 2025
MIL-OSI: Bank of Åland Plc: Managers’ Transactions (Rauthovi)

Source: GlobeNewswire (MIL-OSI)

Bank of Åland Plc
Managers’ Transactions
October 28, 2024, 15.00 EET

Managers’ Transactions (Rauthovi)
__

Person subject to the notification requirement
Name: Juhana Rauthovi
Position: Other senior manager
Issuer: Ålandsbanken Abp
LEI: 7437006WYM821IJ3MN73
Notification type: INITIAL NOTIFICATION
Reference number: 82632/4/4
__

Transaction date: 2024-10-24
Outside a trading venue
Instrument type: SHARE
ISIN: FI0009001127
Nature of transaction: SUBSCRIPTION

Transaction details
(1): Volume: 141 Unit price: 30.77 EUR

Aggregated transactions (1):
Volume: 141 Volume weighted average price: 30.77 EUR

For further information, please contact:

Peter Wiklöf, Managing Director and Chief Executive, tel +358 40 512 7505

The MIL Network –

January 25, 2025

MIL-OSI: STMicroelectronics Announces Status of Common Share Repurchase Program

Source: GlobeNewswire (MIL-OSI)

STMicroelectronics Announces Status of
Common Share Repurchase Program

Disclosure of Transactions in Own Shares – Period from Oct 21, 2024 to Oct 25, 2024

AMSTERDAM – October 28, 2024 — STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated June 21, 2024. The Program was approved by a shareholder resolution dated May 22, 2024 and by the supervisory board.

STMicroelectronics N.V. (registered with the trade register under number 33194537) (LEI: 213800Z8NOHIKRI42W10) announces the repurchase (by a broker acting for the Company) on the regulated market of Euronext Paris, in the period between Oct 21, 2024 to Oct 25, 2024 (the “Period”), of 317,000 ordinary shares (equal to 0.03% of its issued share capital) at the weighted average purchase price per share of EUR 25.8060 and for an overall price of EUR 8,180,516.60.

The purpose of these transactions under article 5(2) of Regulation (EU) 596/2014 (the Market Abuse Regulation) was to meet obligations arising from share option programmes, or other allocations of shares, to employees or to members of the administrative, management or supervisory bodies of the issuer or of an associate company.

The shares may be held in treasury prior to being used for such purpose and, to the extent that they are not ultimately needed for such purpose, they may be used for any other lawful purpose under article 5(2) of the Market Abuse Regulation.

Below is a summary of the repurchase transactions made in the course of the Period in relation to the ordinary shares of STMicroelectronics (ISIN: NL0000226223), in detailed form.

Transactions in Period

Dates of transaction	Number of shares purchased	Weighted average purchase price per share (EUR)	Total amount paid (EUR)	Market on which the shares were bought (MIC code)
21-Oct-24	82,000	25.4697	2,088,515.40	XPAR
22-Oct-24	73,000	25.4669	1,859,083.70	XPAR
23-Oct-24	60,000	26.1471	1,568,826.00	XPAR
24-Oct-24	45,000	26.1794	1,178,073.00	XPAR
25-Oct-24	57,000	26.0705	1,486,018.50	XPAR
Total for Period	317,000	25.8060	8,180,516.60

Following the share buybacks detailed above, the Company holds in total 11,153,614 treasury shares, which represents approximately 1.2% of the Company’s issued share capital.

In accordance with Article 5(1)(b) of the Market Abuse Regulation and Article 2(3) of Commission Delegated Regulation (EU) 2016/1052, a full breakdown of the individual trades in the Program are disclosed on the ST website (https://investors.st.com/stock-and-bond-information/share-buyback).

About STMicroelectronics
At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41.22.929.58.12
celine.berthier@st.com

MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: +33.6.59.16.79.08

alexis.breton@st.com

Attachment

C3289C — Oct 28 2024 — Disclosure of transactions in Own Shares PR_FINAL FOR PUBLICATION

The MIL Network –

January 25, 2025

MIL-OSI: First Northwest Bancorp and First Fed Bank Announce Consent Order Termination and Quarterly Shareholder Dividend

Source: GlobeNewswire (MIL-OSI)

PORT ANGELES, Wash., Oct. 28, 2024 (GLOBE NEWSWIRE) — First Fed Bank (the “Bank”), the wholly owned subsidiary of First Northwest Bancorp (the “Company”) (NASDAQ: FNWB), announced that on October 23, 2024, the Federal Deposit Insurance Corporation terminated the Consent Order issued to the Bank that was effective November 21, 2023. The termination of the Consent Order follows the Bank’s successful resolution of the deficiencies in the Bank’s compliance program that was the subject of the Order.

“We are thrilled to announce the termination of the Consent Order. The Board and I want to convey our sincere thanks and appreciation to our entire compliance team who worked so diligently to strengthen our compliance programs. I also want to recognize our Board for their contributions and efforts regarding this process. The fact that we were able to achieve this in 11 months is a testament to the work the entire bank made over the past two plus years to put this chapter behind us. We appreciate the FDIC’s assessment of our compliance management system, and the recognition of our satisfaction of all of the items related to the Order,” stated Matthew P. Deines, Chief Executive Officer.

The Company also announced the Board of Directors of First Northwest Bancorp has declared a quarterly cash dividend of $0.07 per common share. The dividend will be payable on November 22, 2024, to shareholders of record as of the close of business on November 8, 2024.

“We believe quarterly cash dividends are an important component of building shareholder value, and our capital position enables us to continue to pay a dividend at consistent levels,” stated Matthew P. Deines, President and CEO.

About the Company

First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 16 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. The Company is headquartered in Port Angeles, Washington.

Forward-Looking Statements

Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision, and include, but are not limited to, statements about our plans, objectives, expectations and intentions that are not historical facts, and other statements often identified by words such as “believes,” “expects,” “anticipates,” “estimates,” or similar expressions. These forward-looking statements are based upon current management beliefs and expectations and may, therefore, involve risks and uncertainties, many of which are beyond our control. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; pressures on liquidity, including as a result of withdrawals of deposits or declines in the value of our investment portfolio; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company’s latest Annual Report on Form 10-K under the section entitled “Risk Factors,” and other filings with the Securities and Exchange Commission (“SEC”), which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.

Any of the forward-looking statements that we make in this press release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company’s operating and stock price performance may be negatively affected. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for 2024 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance.

For More Information Contact:
Matthew P. Deines, President and Chief Executive Officer
IRGroup@ourfirstfed.com
360-457-0461

The MIL Network –

January 25, 2025
MIL-OSI: Alliance Memory to Showcase Expanded Portfolio at electronica 2024

Source: GlobeNewswire (MIL-OSI)

KIRKLAND, Wash., Oct. 28, 2024 (GLOBE NEWSWIRE) — Alliance Memory will showcase its expanded product portfolio at electronica 2024 from November 12 to 15 in Hall B5, Stand 300 at the Trade Fair Centre Messe München in Munich, Germany. The company will highlight its new DDR4 and LPDDR4X SDRAMs, as well as high-density Serial NOR Flash devices, providing higher density, low power consumption, and fast data transfer rates for a wide range of applications.

“We’re excited to introduce our latest memory solutions that cater to growing market demands,” said David Bagby, President and CEO of Alliance Memory. “Our new DDR4 SDRAMs, LPDDR4X devices, and Serial NOR Flash products offer the performance, reliability, and flexibility our customers require in today’s evolving technology landscape.”

FEATURED PRODUCTS

DDR4 SDRAMs: Alliance Memory has expanded its CMOS DDR4 SDRAM offerings with new 8Gb, 16Gb, and 32Gb devices. These products combine low power consumption with fast clock speeds of up to 1600 MHz and transfer rates up to 3200 MT/s. They are available in 78-ball FBGA and 96-ball FBGA packages, offering enhanced performance for a variety of applications.

LPDDR4X SDRAM: The company’s 16Gb and 32Gb LPDDR4X devices deliver increased clock speeds of up to 2133 MHz and data rates of up to 4266 Mbps, designed for mobile and high-speed applications. Available in the 200-ball FBGA package, the LPDDR4X SDRAMs feature low power ratings, ideal for battery-operated systems.

High-Density Serial NOR Flash Devices: Alliance Memory has introduced new 3.3 V Serial NOR Flash families with densities of 128Mb, 256Mb, and 512Mb. These devices are suited for use in mobile PCs, servers, laptops, digital TVs, printers, and connectivity modules, offering high performance and flexible I/O options.

To schedule an appointment at electronica 2024 or for more information about the new products, please contact Bob Decker at bob.decker@redpinesgroup.com.

About Alliance Memory

Alliance Memory is a worldwide provider of critical and hard-to-find memory ICs for the communications, computing, consumer electronics, medical, automotive, and industrial markets. The company’s product range includes flash, DRAM, and SRAM memory ICs with commercial, industrial, and automotive operating temperature ranges and densities from 64Kb to 128GB. Privately held, Alliance Memory maintains headquarters in Kirkland, Washington, and regional offices in Europe, Asia, Canada, and South America. More information about Alliance Memory is available online at www.alliancememory.com.

Agency Contact:
Bob Decker
Redpines
+1 415 409 0233
bob.decker@redpinesgroup.com

The MIL Network –

January 25, 2025
MIL-OSI: Mimecast fuels leading Human Risk Management strategy in first half of fiscal year

Source: GlobeNewswire (MIL-OSI)

LEXINGTON, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) — Mimecast, a leading global Human Risk Management (HRM) platform, closed the first half of its fiscal year reaching new revenue heights and citing significant steps toward its vision to transform how organizations manage and mitigate risk. The company started strong with the unveiling of its comprehensive HRM platform; and followed up in the second quarter with two strategic acquisitions, new geographical expansions and a record number of advancements in its technology alliances and partner integrations.

The Mimecast platform secures 27 million end users around the globe across their 42,000+ customers. Customers span more than 100 countries, and on average, each organization uses 4.9 Mimecast services. Mimecast has cemented its standing as an industry-leading security partner trusted by major organizations across the globe.

The value Mimecast delivers for companies was highlighted in the recent Total Economic Impact™ study conducted by Forrester Consulting. Based on Forrester’s interviews and financial analysis, a composite organization experienced benefits of $2.13 million over three years, with $1.53 million in net value and 255% ROI. The news was followed by the announcement that Mimecast was recognized as a strong performer in The Forrester Wave™: Human Risk Management Solutions, Q3 2024 report.

Forging the future of HRM – the next generation of cybersecurity

Early in its fiscal half, Mimecast unveiled its AI-powered, API-enabled Human Risk Management platform. In response to customer and market demand for a more effective way to mitigate risk brought on by employee mistakes and user errors, this new platform provides unprecedented visibility into an organization’s risk profile, scoring users by risk and allowing security teams to educate and protect the riskiest part of their employee base.

A key pillar to the platform is the company’s new human risk awareness training offering, Mimecast Engage™, which is built to redefine how security leaders can manage human risk. Mimecast Engage, the result of the integration of Elevate Security technology acquired in December 2023 with Mimecast’s awareness training product, will soon be available to organizations across the globe.

In an effort to bolster the platform and further protect customers from risks associated with human activity, Mimecast closed two industry-shaping acquisitions in Q2: Code42 and Aware.

“Our momentum over these six months is a testament to our commitment and progress toward charting the future of human risk management,” said Marc van Zadelhoff, Chief Executive Officer of Mimecast, “Our acquisitions and solution enhancements continue to elevate our platform and support our aim of helping businesses of all sizes manage and mitigate human risk. I am also incredibly proud to see the significant progress we’ve made in expanding our tech integrations and channel partners, recognizing the demands of a complex threat landscape and the importance of collaboration on a global level. As the attack surface grows and evolves, so too will Mimecast, remaining one step ahead for our customers.”

Thousands of organizations tapping into Mimecast’s powerful integrations

In Q2, Mimecast further strengthened its partnership with CrowdStrike by integrating Mimecast Advanced Email Security and CrowdStrike Falcon Next-Gen SIEM. Building on the existing integrations of CrowdStrike Falcon^® Insight XDR, CrowdStrike Falcon^® LogScale and CrowdStrike Falcon^® Fusion SOAR, this development provides a robust multifaceted defense strategy for Mimecast customers.

The combination of Mimecast and CrowdStrike Falcon Next-Gen SIEM will empower thousands of organizations to understand a bad actor’s complete attack path, improving their ability to rapidly investigate, detect, and mitigate accurately, and demonstrating the power of combining two leading solutions can effectively tackle the intricate challenges of today’s threat landscape.

Almost one third of Mimecast’s addressable customer base is connected to at least one of Mimecast’s technology alliance partners. In total, Mimecast’s technology integrates into over 300 security products.

Mimecast expands channel partnerships into Mexico

Following successful expansions in France, Singapore, Hong Kong and Malaysia, Mimecast furthered their geographic reach in Q2 by making its industry-leading AI-powered email security solutions available Mexico-wide, including the new Human Risk Management platform.  

With an expanded product portfolio, new revenue opportunities and enhanced credibility, Mimecast’s channel partners can now offer end-to-end protection for their clients in more regions around the world.

Additional expansion on the horizon includes the launch of the Partner ONE MSP Program. Building mutually beneficial partnerships with organizations, this new program extends Mimecast’s market presence to new audiences and provides partners with a range of resources, including enhanced training, ongoing support and market resources.

Innovation underpinned by research

Mimecast continues to conduct leading research into the state of the cybersecurity environment, offering critical insights and guidance on how businesses can prepare for the future.

In August 2024, Mimecast published its most recent Threat Intelligence report. Based on an analysis of more than 1.7 billion messages daily over a six-month period, the report offers unparalleled insight into the current threat landscape as well as new and emerging attack methods and vulnerabilities.

About Mimecast
Mimecast is a leading AI-powered, API-enabled connected Human Risk Management platform, purpose-built to protect organizations from the spectrum of cyber threats. Integrating cutting-edge technology with human-centric pathways, our platform is engineered to enhance visibility. It provides strategic insight that enables decisive action and empowers businesses to protect their collaborative environments, safeguard their critical data and actively engage employees in reducing risk and enhancing productivity. More than 42,000 businesses worldwide trust Mimecast to help them keep ahead of the ever-evolving threat landscape. From insider risk to external threats, with Mimecast customers get more. More visibility. More insight. More agility. More security.

Mimecast and the Mimecast logo are either registered trademarks or trademarks of Mimecast Services Limited in the United States and/or other countries. All other third-party trademarks and logos contained in this press release are the property of their respective owners. 

Press Contacts
Tim Hamilton
Principal Public Relations Manager
+1 603-918-6757
thamilton@mimecast.com

General inquiries
press@mimecast.com

The MIL Network –

January 25, 2025
MIL-OSI: Progress Appoints Amanda Arria to the Role of Chief People Officer

Source: GlobeNewswire (MIL-OSI)

Accomplished industry leader with proven track record in developing people strategies and creating impactful employee experiences for global multi-billion-dollar organizations to enhance award-winning best employer

BURLINGTON, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) — Progress (Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced the appointment of Amanda Arria as Chief People Officer (CPO), effective October 28, 2024. In her new role, Arria will be responsible for all aspects of Progress’ global People Team function. She joins the Progress executive team, reporting directly to CEO Yogesh Gupta.

“Amanda Arria is an exceptional Human Resources professional with a talent for building strong employee-centric cultures and partnering with senior leaders, managers and cross-functional global teams,” said Yogesh Gupta, CEO, Progress. “Her experience at multi-billion-dollar organizations and ability to align business and people priorities will be critical as Progress continues to successfully deliver upon our Total Growth Strategy.”

The Progress Total Growth Strategy focuses on three key pillars: Invest and Innovate, Acquire and Integrate and Drive Customer Success. In her new role, Arria will lead the ongoing evolution of the company’s organization and culture to drive the successful execution of this strategy. She will align the People Team function to meet business objectives, sustain a committed and engaged workforce across the global organization of more than 2,500 employees and strengthen the company’s overall organizational effectiveness.

Prior to Progress, Arria was Chief Human Resources Officer at EFI, a leader in digital imaging, where she led all aspects of the Human Resources function across both the EFI and Fiery businesses. Previously, she held global human resources leadership roles at Schneider Electric and EMC (acquired by Dell Technology). She is also well versed in M&A, having led the people and cultural integration efforts for numerous acquisitions throughout her career. Arria also founded Women in Energy, a global group of more than 5,000 women focused on connecting, networking and growing in the technology and energy industries.

“Progress has a tremendous culture built by people who are collaborative, accountable and innovative,” said Arria. “I want to build on that foundation by leveraging my global business experience to create a world-class people strategy that will empower Progress employees to thrive as the business continues to grow and evolve.”

Progress has continually been recognized as a Best Employer by Forbes, The Boston Globe, Boston Business Journal and more. Discover more about Progress by exploring its 2023 Corporate Social Responsibility Report or browsing career opportunities at Progress.

About Progress
Progress (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible, AI-powered applications and experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

Progress is a trademark or registered trademark of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

Press Contacts:
Kim Baker
Progress
+1-800-477-6473
pr@progress.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/33a6bbbd-1779-4e3c-a88b-e49988234842

The MIL Network –

January 25, 2025
MIL-OSI: Station70 announces strategic partnership with Fireblocks

Source: GlobeNewswire (MIL-OSI)

NASHVILLE, Tenn., Oct. 28, 2024 (GLOBE NEWSWIRE) — Station70, a leader of security products in the digital asset industry, is excited to announce a partnership with Fireblocks, a leading institutional wallet technology provider. This collaboration aims to deliver advanced disaster recovery services tailored specifically for Fireblocks’ institutional clients. Station70 will add much needed security, and multi-jurisdictional regulatory alignment all while simplifying the technology needs of institutional customers worried about business continuity and disaster recovery of their digital asset keys.

In today’s rapidly evolving digital economy, managing digital assets securely is a top priority for institutions. As the market grows, the need for robust disaster recovery solutions has become more crucial than ever. Station70’s expertise in security and disaster recovery coupled with Fireblocks’ suite of applications to manage digital asset operations come together to address this demand.

This combined solution is designed to safeguard digital assets even in the event of unforeseen incidents, offering institutions a seamless way to manage and recover assets without compromising security. Station70 is the only fully audited platform that enables geographically redundant secure storage options for backup keys and streamlines regulatory compliance globally.

“Partnering with Fireblocks allows us to provide unparalleled disaster recovery services that meet the highest standards of security, compliance and efficiency,” said Adam Healy, CEO and co-founder at Station70. “This collaboration underscores our commitment to ensuring our clients’ digital assets are protected, even under the most challenging circumstances.”

This strategic partnership is a significant step forward for both companies in their mission to provide secure and reliable digital asset services. As institutional adoption of digital assets continues to grow, the need for solutions that combine top-tier security with robust recovery capabilities is more pressing than ever. With Fireblocks’ advanced infrastructure and Station70’s disaster recovery expertise, clients can now achieve peace of mind knowing that their assets are safe and recoverable, no matter what challenges arise.

Inquiries can be directed to media@station70.com.

The MIL Network –

January 25, 2025
MIL-OSI: Ascend Learning Appoints Proven Healthcare Technology Leader Dr. Lissy Hu as Chief Executive Officer

Source: GlobeNewswire (MIL-OSI)

Greg Sebasky to Retire, Transition to Role of Chairman of the Ascend Board of Managers in January 2025

Positions Company to Execute on Strategic Healthcare Focus to Deliver
Innovative Learning and Workforce Development Solutions

BURLINGTON, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) — Ascend Learning, LLC (“Ascend” or “the Company”), a leading learning technology company, today announced the appointment of Dr. Lissy Hu as Chief Executive Officer. Dr. Hu succeeds Greg Sebasky, who is retiring after 10 years as CEO and will transition to the role of Chairman of the Ascend Board of Managers in January 2025.

Dr. Hu has deep experience building and leading transformational healthcare technology companies. She was previously the CEO of CarePort Health, a care coordination technology company she founded in 2012 to improve patient transitions by connecting hospitals and post-acute care providers. In 2020, CarePort Health was acquired by WellSky, where Dr. Hu most recently served as President, Connected Networks, working with providers and payers to optimize post-acute care outcomes across 2,500 hospitals, physician groups, risk-bearing entities and 130,000 post-acute, home and community-based providers.

Ascend Learning has been delivering critical learning solutions to the healthcare industry since 2008. The Company’s offerings, educational content, software, simulation, and analytics, serve students, healthcare and educational institutions, and employers in all 50 states. Each year, Ascend Learning’s products, from testing to certification, enable more than 60% of U.S. nursing school programs and are used by over 300,000 nursing students, more than 245,000 allied health professionals, 100,000 medical students, 145,000 fitness professionals and over 150,000 first responders.

“Over the last 10 years, we have grown the Ascend family of brands thoughtfully, building a market-leading provider of data-driven online learning tools,” said Mr. Sebasky. “As we sharpen our focus on developing and delivering tailored solutions across the healthcare ecosystem, Lissy’s wealth of market experience and track record of driving positive outcomes through leading-edge technology makes her the perfect fit to lead Ascend forward. With Lissy at the helm, I am confident that Ascend will continue to grow, innovate and find new and better ways to help make communities across the U.S. healthier. I look forward to working with her and continuing to support the Ascend team and mission in my role as Chairman beginning in January.”

As communities across the U.S. face shortages of healthcare professionals, aging populations, and rising healthcare costs, Ascend is committed to delivering next-generation technology, content and analytics to train, develop and retain healthcare teams empowered to address these challenges.

“Fundamental to improving patient care is investing in our healthcare teams, and I am excited to further drive Ascend’s success in enabling clients to achieve elevated learner and educator outcomes and to support workers as they progress through their careers,” said Dr. Hu. “Ascend’s innovative learning solutions are needed now more than ever before, and I am honored to join a best-in-class organization and team that have such a significant, positive impact on the entire lifecycle of learning. I look forward to leading Ascend’s next chapter of scalable growth.

“Under Greg’s leadership, Ascend has solidified its position as a clear leader in the tech-enabled learning services market. I thank him for his strategic vision and invaluable contributions, and I look forward to working with him, our clients, our leaders, our employees and the Board to continue accelerating learning and professional success across the country,” continued Dr. Hu.

Dr. Hu earned a Doctor of Medicine from Harvard Medical School, a Master of Business Administration degree from Harvard Business School, and a Bachelor of Arts degree in pre-medical studies and sociology from Columbia University.

About Ascend Learning
Ascend Learning is a leading provider of educational content and software tools for students, educational institutions, and employers. With products that span the learning continuum, Ascend Learning focuses on high-growth careers in a range of industries, with a special focus on healthcare and other licensure-driven occupations. Ascend Learning products, from testing to certification, are used by physicians, emergency medical professionals, nurses, certified personal trainers, financial advisors, skilled trades professionals and insurance brokers. Learn more at www.ascendlearning.com.

Media Contact
V2 Communications for Ascend Learning
ascend@v2comms.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61335701-5169-4263-8b05-17ec38fc5749

The MIL Network –

January 25, 2025

Category: Business

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