NewzIntel.com

Category: Business

  • MIL-OSI Global: Blitz of political attack ads in Pennsylvania and other swing states may be doing candidates and voters more harm than good

    Source: The Conversation – USA – By Heather LaMarre, Associate Professor of Media and Communication, Temple University

    Nearly $11 billion is projected to be spent on political advertising in the 2024 fall election season. PM Images/DigitalVision Collection via Getty Images

    For Pennsylvania residents like me, there is no escape from the record-breaking number of political attack ads disrupting our favorite shows and filling our social media feeds.

    A projected US$10.7 billion is being spent nationwide – but particularly in battleground states – on political ads this election season.

    For those who are feeling election fatigue and just want to stream in peace: Buckle in, because it’s about to get worse.

    As of late August 2024, over $1.7 billion in political ads had been reserved nationwide to run between Labor Day and Election Day. Over $400 million of that is just for presidential election ads in seven key battleground states.

    With Pennsylvania widely considered the most decisive state in the 2024 presidential election, it may be no surprise that the Keystone State has the most presidential ad reservations, totaling $137 million.

    And the Philadelphia market alone is the top market in the country, with $125 million in ad reservations. Democrats are spending about 25% more than Republicans on presidential ads in Philly.

    As a political communication expert and professor of media and social influence who lives in Philadelphia, I am often asked: “Why are there so many political ads, why are they so negative, and more importantly, how do we make it stop?”

    I’ll answer the first two below. For the last, the truth is we don’t.

    A billboard in Philadelphia purchased by the Trump campaign.
    Selcuk Acar/Anadolu via Getty Images

    Voters feel exhausted, angry, stressed

    If campaigns are spending all this money on political attack ads, they must work, right? Surely they sway at least undecided voters?

    In a word: no. Research suggests deluges of negative political advertising do little to change voters’ minds.

    They can even backfire on candidates.

    When voters perceive ads as unfair or manipulative, they are less likely to vote for the candidate or party producing the ads. And when subjected to repeated unwanted exposure to political ads, they can experience “psychological reactance” and behave opposite of what the ads intended.

    Some studies also suggest that negative ads create election stress, which can reduce voter turnout among the less politically interested.

    In a 2023 Pew Research Center survey, 65% of U.S. adults reported that they always or often feel “exhausted” when they think about U.S. politics. More than half reported that they always or often feel “angry” with U.S. politics.

    More concerning, research suggests our elections are harming voters’ mental health. This is marked by lost sleep, increased anxiety and chronic stress.

    ‘Daisy’ and the birth of ad wars

    Historically, political advertising was considered an effective tool for educating voters, building momentum and engaging the politically uninterested.

    Although the research is mixed, past studies have shown that advertising increased election turnout and influenced voter behavior.

    The infamous 1964 “Daisy” ad run by President Lyndon Johnson’s campaign shocked audiences with the potential horrors of nuclear war. While the ad never mentioned Johnson’s opponent, Arizona Sen. Barry Goldwater, it is largely credited as a turning point in presidential political advertising, ushering in an era of political attack ads.

    LBJ’s “Daisy” ad played on American’s Cold War fears.

    However, political ad wars have been a feature of U.S. presidential elections since the 1800s, with attack ads on TV starting in the early 1950s.

    But why the constant barrage now?

    Citizens United unleashes flood of dark money

    Political ad spending has monumentally increased over the past several election cycles, and hit the billions after the landmark 2010 Citizens United case.

    In that ruling, the Supreme Court decided that limiting spending from corporations or outside groups violated those groups’ First Amendment right to free speech. Prior to Citizens United, corporations and other groups like nonprofits and labor unions were subject to prohibitions on campaign donations. Individual campaign contribution limits, which currently stand at $3,300 per candidate per election, kept spending relatively level across the electorate.

    Following the ruling, however, the influx of corporate and outside money completely changed the campaign finance landscape.

    In 2010, political ad spending reached $3.3 billion – an 11% increase from the 2008 election that took place pre-Citizens United. A decade later, total spending on political ads soared to $9 billion in the 2020 election.

    Significant portions of this spending come from political action committees that are not bound by traditional campaign contribution limits as long as they do not donate the money directly to a candidate or coordinate with a candidate’s campaign.

    These groups, known as super PACs, can raise and spend unlimited amounts of money from undisclosed donors. While super PACs have to disclose identities of people who donate over $200 in a year, donors can use shell companies to hide their identities.

    This web of secret money, known as dark money, exceeded $1 billion in 2020.

    During the 2024 election cycle, over $2.4 billion has been raised by super PACs. This is where much of the funding for the political ad barrage that voters experience in the weeks leading up to the election comes from.

    But why are the ads so negative?

    Attack ads lose appeal

    These days, most political ads are negative, according to a 2020 Pew Research Center study.

    For example, in the weeks following President Joe Biden leaving the race, 95% of pro-Trump ads focused on attacking Vice President Kamala Harris rather than promoting policy, according to the Wesleyan Media Project, which tracks political advertising.

    Americans are a deeply divided electorate. Political violence is on the rise, misinformation floods the system, and trust in media is at an all-time low.

    Research shows that fear-based negative messaging leads to stress and anxiety, elicits more bias and entrenches attitudes.

    Knowing this, it is reasonable to ask why campaigns continue down the path of negative advertising. The answer likely rests in old beliefs.

    Prior studies have shown that people pay closer attention to negative information than to positive information. And infamous ad effects like Johnson’s easy win after the airing of the Daisy ad contribute to the commonly held belief that negative ads still win elections.

    But the media environment has changed drastically, and voters are growing resentful.

    Voters resent microtargeting

    Unlike traditional voter segmentation where an entire group of voters would receive similar messages, campaigns now use data analytics to microtarget messages for specific voters.

    Microtargeting enlists the help of social monitoring companies to identify voters’ psychometric data – their hopes, fears, likes, dislikes and so on – so that campaigns can finely tune messages to target them on social media.

    Not only are these microtargeted messages manipulative, but they can be an unwelcome disruption and invasion of privacy, especially among the politically uninterested.

    A 2020 Pew survey found that over half of voters believe tech companies should not allow political ads on social media. Three-quarters oppose campaigns using their personal data to target them with political ads.

    Some evidence suggests that political microtargeting even reduces citizens’ trust in democracy.

    After record-breaking amounts of advertising this election cycle, the latest polls remain very tight, and most are within the margin of error. The reality is that Americans are already divided and steadfast in their voting decisions, and it is difficult to change entrenched political attitudes.

    Put simply, the political ad barrage coupled with microtargeting strategies is not an effective campaign strategy that sways voters’ minds. Meanwhile, there is growing evidence that this level of negativity is harming the electorate and undermining trust in democracy.

    Heather LaMarre 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. Blitz of political attack ads in Pennsylvania and other swing states may be doing candidates and voters more harm than good – https://theconversation.com/blitz-of-political-attack-ads-in-pennsylvania-and-other-swing-states-may-be-doing-candidates-and-voters-more-harm-than-good-239034

    MIL OSI – Global Reports –

  • MIL-OSI Global: Misspoke: The long and winding road to becoming a political weasel word

    Source: The Conversation – USA – By Valerie M. Fridland, Professor of Linguistics, University of Nevada, Reno

    Democratic candidate Tim Walz, during the vice presidential debate in which he said he ‘misspoke’ about being in Hong Kong during Tiananmen Square protests. Chip Somodevilla/Getty Images

    During the Sept. 24, 2024, debate, Democratic vice presidential hopeful Tim Walz said he “misspoke” when asked to clarify his story of being in Hong Kong during the Tiananmen Square crackdown in June 1989.

    To many, Walz’s use of the word misspoke came across as an attempt to weasel out of what was at best an embellishment and at worst an outright lie.

    The word misspoke has certainly long been used to politically backpedal after verbal inaccuracies or blunders, as Ronald Reagan learned in 1981 after he said that Syrian surface-to-air missiles placed in Lebanon were “offensive weapons,” when they were in fact defensive weapons. Both Presidents Bill Clinton and the much “misunderestimated” George W. Bush likewise were deemed to have misspoken after making mistakes, big and small.

    For instance, a spokesperson for Clinton claimed he had misspoken when the then-president said that North Korea would not be allowed to develop a nuclear bomb – after there was reason to believe they had already developed them. During George W. Bush’s term in office, verbal errors were so common they earned a nickname of their own: “Bushisms.”

    But misspoke’s extension to factual fabrication is one step further down the semantic road. In using it in this way, Walz joined other “misspoken” politicians, such as Hillary Clinton, who used it after falsely recollecting having landed in Bosnia under sniper fire.

    As a sociolinguist who writes about how language changes over time, misspoke’s euphemistic recasting of lying as an inadvertent mistake calls for deeper linguistic scrutiny.

    Tim Walz, being pressed on a statement he made and whether it was true, during the vice presidential debate.

    From mumble to mea culpa

    To understand how and why words morph like this, linguists like to trace them to their very beginnings.

    According to the Oxford English Dictionary, “misspeaking” is quite old in the history of English, appearing as “missprecon” in a Northumbrian text dating before the 11th century. Its original sense was one of “to grumble” or “to mumble,” a meaning now obsolete.

    But after the 11th century, its meaning shifted from inarticulateness to that of speaking amiss or disparagingly, often mentioned in reference to saying something improper or upsetting. Chaucer makes use of this sense in the “Miller’s Tale”: “And therfore if that I mysspeke or seye, Wyte it the ale of Southwerk, I you preye,” where the Miller handily blames a bit too much ale for whatever impropriety might fall from his mouth.

    Around the time Chaucer was composing “The Canterbury Tales” in the late 14th century, the word “misspeak” branched off down yet another semantic path, taking on the meaning of “to speak incorrectly or misleadingly.” It is this sense that gave birth to the modern political mea culpa used when backtracking on a misleading prior statement, such as by Sen. John McCain after he claimed President Barack Obama was directly responsible for terrorist attacks on Americans.

    Expanding meaning

    These shifts in the meaning of a word over time fall under what linguists refer to as “semantic broadening.” Semantic broadening, which means expansion of a word’s meaning, is incredibly common, generally occurring when a word becomes used more frequently and across more situations. As a result, its core sense can expand to take on supplemental or tangential meanings.

    Semantic shift like this is constantly at work, pushing and pulling senses in related but new directions to stay relevant to the needs of speakers.

    The word “soon,” for instance, at first carried a meaning of “immediately,” but human nature being what it is, its meaning began to creep in the direction of “as immediately as possible” as people took their merry time.

    Some new meanings, such as the nonliteral use of “literally” and Walz’s use of “misspeak,” are sites of contest, with multiple meanings at play.

    The semantic broadening of misspeaking to cover not just misleading but knowingly false information didn’t start with Walz, nor did it begin with Clinton. In fact, this politically expedient expansion seems to go back at least to the Nixon administration.

    There’s been a lot of misspeaking by politicians over the years, as these stories show.
    The Guardian US; The Hill; Wall Street Journal; Politico; Washington Post.

    ‘I misspoke myself’

    In 1973, Nixon and his advisers were called to task in a Time article accusing them of a tendency to “make flat statements one day, and the next day reverse field with the simple phrase, ‘I misspoke myself.’” Given the Watergate scandal, it’s safe to say that misspoke as used by his administration had already shifted into deceptive speech territory.

    Perhaps misspeaking’s semantic slippery slope started even further back, when the prefix “mis,” with its sense of “badly,” combined with “speaking.”

    Consider other potentially weaselly words that are also formed by “mis” prefixation: misunderstood, misinterpret, mishear, mistake. These are all examples of words, like misspeak, that can and have been used by politicians to avoid taking responsibility for the false or “misleading” things they say.

    Even if led astray by its prefix, from a linguistic perspective, the broadening of misspeak to cover not just incorrect but fabricated statements turns out to be not such a surprising development given the tendency of words to take on new senses over time, particularly in the world of political doublespeak.

    The bigger surprise might be how this new meaning translates with voters, but that’s one surprise that will have to wait for the ballot box.

    Valerie M. Fridland 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. Misspoke: The long and winding road to becoming a political weasel word – https://theconversation.com/misspoke-the-long-and-winding-road-to-becoming-a-political-weasel-word-240533

    MIL OSI – Global Reports –

  • MIL-OSI Global: So you don’t like Trump or Harris – here’s why it’s still best to vote for one of them

    Source: The Conversation – USA – By Daniel F. Stone, Associate Professor of Economics, Bowdoin College

    In a close election, every vote really does matter. Nadzeya Haroshka/iStock / Getty Images Plus

    Many Americans are not thrilled with either of the two major-party candidates for president. As of Oct. 4, 2024, polls showed that 46.5% had an unfavorable opinion of Kamala Harris and 52.6% felt unfavorably toward Donald Trump.

    Some of these unhappy voters are considering voting for a third-party candidate, or not voting at all. They may be thinking of those actions as a form of protest against the two-party system dominant in the United States, or against these two particular candidates.

    For example, in a September poll 3.5% of Michigan voters said they planned to vote for a candidate other than Harris and Trump.

    At first glance, these choices might seem perfectly reasonable: If you don’t like a candidate, don’t vote for that person. But my work as a scholar of cognitive biases – systematic errors people make in their thinking – makes me fear that this option does not best serve the interests of those voters.

    Instead, protest voting is in fact likely to harm the democratic process, potentially leading to the election of the candidate the majority of voters overall, and protest voters specifically, most dislike. There are several reasons protest voters might make this mistake.

    How much does one vote matter?

    It’s clear that any one vote is very unlikely to swing the presidential election. And some might say that if one vote doesn’t really matter, then voters may as well vote however they want, or not bother to vote at all. Here’s why that’s flawed thinking:

    Suppose there are 10,000 voters in a state who feel unhappy with both candidates. But they almost surely dislike one candidate more than they dislike the other. Perhaps they disagree with some of Harris’ views but fear Trump. Or maybe it’s the other way around. They don’t have to agree on why they’re unhappy about the candidates either – some who are unhappy with Harris but prefer her over Trump may think Harris is too far left, while others may think she’s not enough of a leftist.

    Now suppose the rest of the state’s voters – those who are happy to vote for one of the two major candidates – are very narrowly split. Perhaps the gap is 5,000 votes. So, if the 10,000 unhappy voters do vote for one of the two major-party candidates, they can swing the election.

    Again, these unhappy voters really do have a preference – they like one of the major candidates better than the other. So while each individual unhappy voter wants to keep their hands clean and not vote, they would each like the other 9,999 unhappy voters to step up and swing the outcome in favor of their preferred candidate.

    Parents teach the Golden Rule to kids – do unto others as you would have them do unto you – and most people do actually believe in it and try to act accordingly. In this case, following the Golden Rule means that if you’re an unhappy voter and would like other unhappy voters to hold their noses and vote for the major candidate they least dislike, you should be willing to do the same thing yourself.

    But not all unhappy voters think this way. Some are led astray by their intuition and choose to protest-vote even when their own values would indicate they shouldn’t.

    A boycott might close a store, but it’s not going to prevent an election from delivering a winner.
    Nikolay Tsuguliev/iStock / Getty Images Plus

    A boycott error

    One reason a person might still think a protest vote makes sense is because of the assumption that boycotting something they don’t like is an effective means of contributing to positive change.

    A boycott against a person or organization you have a problem with often makes good sense. For instance, if there’s a restaurant in town with a reputation for being discriminatory, or just for being slow to get the food out, don’t go to it. Maybe it will close and make room for another business with better performance. Or maybe it will make some changes in hopes of growing its customer base.

    But when you cast a vote, whether on Election Day or beforehand, boycotting the viable candidates isn’t going to help. One of them is going to win whether you like it or not. Boycotting in this context is an example of a misapplied heuristic – a rule of thumb that’s often, but not always, helpful. Boycotting here doesn’t help you achieve your goal of eliminating or improving something you don’t like.

    Omission vs. commission

    Another reason people might choose a protest vote is because of a phenomenon in which people prefer to make mistakes of inaction – omission – over making mistakes that involve taking action – commission. People feel less guilty when they haven’t acted directly in support of a bad outcome. But both action and inaction can be errors, and both can deliver undesired results that constitute bad outcomes.

    The omission bias can help explain why some people are hesitant to get vaccinated against serious diseases: If they chose to get vaccinated and the vaccination led to a health problem, that would be a mistake of commission. Not getting vaccinated also might lead to a health problem, but that would be a mistake of omission. People tend to prefer the latter.

    Similarly, voting for a candidate you’re unsatisfied with could feel like a mistake of commission. Not voting, or voting for a third party, risks a mistake of omission – an error often assumed to be less significant. But choosing the possibility of an error of omission over one of commission doesn’t ensure you aren’t making a mistake – it just changes your mistake to one that’s intuitively more appealing.

    They are both politicians, but they are very different candidates.
    AP Photo

    False equivalence

    A final reason people might opt out of voting or choose to back a third-party candidate is that they object to the assumption that they dislike one candidate more than the other. Instead, these people claim the two main options are equally bad.

    But regardless of what your actual values and policy preferences are, that’s almost certainly untrue. The two candidates hold very different views on a wide range of issues, and have different records of what they have done – and not done – when in office.

    People who claim the two different candidates are basically the same are misusing another mental shortcut: the human tendency to think in categories. Grouping distinct items in the same category can simplify thinking, but it can ignore substantial differences.

    Some people think about 1-in-10 chances and 1-in-a-million chances as both being in the category of “possibilities.” But they’re very different: If you’re flipping a coin repeatedly, one is about equal to your chance of getting heads three times in a row, and the other is how likely you are to get heads 20 times in a row.

    Seeking your most desired outcome

    During the 2000 presidential campaign, I recall a friend said he wasn’t voting for Democratic candidate Al Gore because he thought Gore and Republican nominee George W. Bush were equally bad. But after winning – partly because of third-party voters who cast ballots for independent Ralph Nader – Bush withdrew the U.S. from the Kyoto Protocol to limit global carbon emissions, invaded Iraq, and passed tax cuts favoring the wealthy.

    All of those were actions Gore would almost certainly not have taken. The two candidates were very far from being the same, and even though my friend didn’t see it beforehand, he should have been able to.

    The U.S. will have a new president on Jan. 20, 2025: Trump or Harris. A third-party winner is not a real option.

    In some states voters can rank candidates in order of preference, more clearly expressing their choices without wasting their vote on a candidate who can’t win. People who believe it would be nice to have more choices with realistic chances of winning could work to adopt that system – known as ranked-choice voting – in their communities, or seek to adopt other methods that could eventually yield more viable options in the future. But it won’t happen in time for this election.

    Whether you like it or not, you face a binary choice: Vote for one or vote for the other. And please vote.

    Daniel F. Stone 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. So you don’t like Trump or Harris – here’s why it’s still best to vote for one of them – https://theconversation.com/so-you-dont-like-trump-or-harris-heres-why-its-still-best-to-vote-for-one-of-them-240632

    MIL OSI – Global Reports –

  • MIL-OSI Global: Buyer beware: Off-brand Ozempic, Zepbound and other weight loss products carry undisclosed risks for consumers

    Source: The Conversation – USA – By C. Michael White, Distinguished Professor of Pharmacy Practice, University of Connecticut

    In just a few years, brand-name injectable drugs such as Ozempic, Wegovy, Mounjaro and Zepbound have rocketed to fame as billion-dollar annual sellers for weight loss as well as to control blood sugar levels and reduce the risk of heart disease.

    But the price of these injections is steep: They cost about US$800-$1,000 per month, and if used for weight loss alone, they are not covered by most insurance policies. Both drugs mimic the naturally occurring hormone GLP-1 to help regulate blood sugar and reduce cravings. They can be taken only with a prescription.

    The Food and Drug Administration announced an official shortage of the active ingredients in these drugs in 2022, but on Oct. 2, 2024, the agency announced that the shortage has been resolved for the medicine tirzepatide, the active ingredient in Mounjaro and Zepbound.

    Despite the soaring demand and limited supply of these drugs, there are no generic versions available. This is because the patents for semaglutide – the active ingredient in Ozempic and Wegovy, which is still in shortage – and tirzepatide don’t expire until 2033 and 2036, respectively.

    As a result, nonbrand alternatives that can be purchased with or without a prescription are flooding the market. Yet these products come with real risks to consumers.

    I am a pharmacist who studies weaknesses in federal oversight of prescription and over-the-counter drugs and dietary supplements in the U.S. My research group recently has investigated loopholes that are allowing alternative weight loss products to enter the market.

    High demand is driving GLP-1 wannabes

    The dietary supplement market has sought to cash in on the GLP-1 demand with pills, teas, extracts and all manner of other products that claim to produce similar effects as the brand names at a much lower price.

    Products containing the herb berberine offer only a few pounds of weight loss, while many dietary supplement weight loss products contain stimulants such as sibutramine and laxatives such as phenolphthalein, which increase the risk of heart attacks, strokes and cancer.

    Poison control centers have seen a steep rise in calls related to off-brand weight loss medications.

    The role of compounding pharmacies

    Unlike the dietary supplements that are masquerading as GLP-1 weight loss products, compounding pharmacies can create custom versions of products that contain the same active ingredients as the real thing for patients who cannot use either brand or generic products for some reason.

    These pharmacies can also produce alternative versions of brand-name drugs when official drug shortages exist.

    Since the demand for GLP-1 medications has far outpaced the supply, compounding pharmacies are legally producing a variety of different semaglutide and tirzepatide products.

    These products may come in versions that differ from the brand-name companies, such as vials of powder that must be dissolved in liquid, or as tablets or nasal sprays.

    Just like the brand-name drugs, you must have a valid prescription to receive them. The prices range from $250-$400 a month – still a steep price for many consumers.

    Compounding pharmacies must adhere to the FDA’s sterility and quality production methods, but these rules are not as rigorous for compounding pharmacies as those for commercial manufacturers of generic drugs.

    In addition, the products compounding pharmacies create do not have to be tested in humans for safety or effectiveness like brand-name products do.

    Proper dosing can also be challenging with compounded forms of the drugs.

    Companies that work the system

    For people who cannot afford a compounding pharmacy product, or cannot get a valid prescription for semaglutide or tirzepatide, opportunistic companies are stepping in to fill the void. These include “peptide companies,” manufacturers that create non-FDA approved knockoff versions of the drugs.

    From November 2023 to March 2024, my team carried out a study to assess which of these peptide companies are selling semaglutide or tirzepatide products. We scoured the internet looking for these peptide companies and collected information about what they were selling and their sales practices.

    We found that peptide sellers use a loophole to sell these drugs. On their websites, the companies state that their drugs are for “research purposes only” or “not for human consumption,” but they do nothing to verify that the buyers are researchers or that the product is going to a research facility.

    By reading the comments sections of the company websites and the targeted ads on social media, it becomes clear that both buyers and sellers understand the charade. Unlike compounding pharmacies, these peptide sellers do not provide the supplies you need to dissolve and inject the drug, provide no instructions, and will usually not answer questions.

    Peptide sellers, since they allegedly are not selling to consumers, do not require a valid prescription and will sell consumers whatever quantity of drug they wish to purchase. Even if a person has an eating disorder such as anorexia nervosa, the companies will happily sell them a semaglutide or tirzepatide product without a prescription. The average prices of these peptide products range from $181-$203 per month.

    Skirting regulations

    Peptide sellers do not have to adhere to the rules or regulations that drug manufacturers or compounding pharmacies do. Many companies state that their products are 99% pure, but an independent investigation of three companies’ products from August 2023 to March 2024 found that the purity of the products were far less than promised.

    One product contained endotoxin – a toxic substance produced by bacteria – suggesting that it was contaminated with microbes. In addition, the products’ promised dosages were off by up 29% to 39%. Poor purity can cause patients to experience fever, chills, nausea, skin irritation, infections and low blood pressure.

    In this study, some companies never even shipped the drug, telling the buyers they needed to pay an additional fee to have the product clear customs.

    If a consumer is harmed by a poor-quality product, it would be difficult to sue the seller, since the products specifically say they are “not for human consumption.” Ultimately, consumers are being led to spend money on products that may never arrive, could cause an infection, might not have the correct dose, and contain no instructions on how to safely use or store the product.

    Will prices for brand-name products come down?

    To combat these alternative sellers, pharmaceutical company Eli Lilly began offering an alternative version of its brand-name Zepbound product for weight loss in September 2024.

    Instead of its traditional injection pen products that cost more than $1,000 for a month’s supply, this product comes in vials that patients draw up and inject themselves. For patients who take 5 milligrams of Zepbound each week, the vial products would cost them $549 a month if patients buy it through the company’s online pharmacy and can show that they do not have insurance coverage for the drug.

    After a grilling on Capitol Hill in September 2024, pharmaceutical company Novo Nordisk came under intense pressure to offer patients without prescription coverage a lower-priced product for its brand-name Wegovy as well.

    In the next few years, additional brand-name GLP-1 agonist drugs will likely make it to market. As of October 2024, a handful of these products are in late-phase clinical trials, with active ingredients such as retatrutide, survodutide and ecnoglutide, and more than 18 other drug candidates are in earlier stages of development.

    When new pharmaceutical companies enter this market, they will have to offer patients lower prices than Eli Lilly and Novo Nordisk in order to gain market share. This is the most likely medium-term solution to drive down the costs of GLP-1 drugs and eliminate the drug shortages in the marketplace.

    C. Michael White 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. Buyer beware: Off-brand Ozempic, Zepbound and other weight loss products carry undisclosed risks for consumers – https://theconversation.com/buyer-beware-off-brand-ozempic-zepbound-and-other-weight-loss-products-carry-undisclosed-risks-for-consumers-239480

    MIL OSI – Global Reports –

  • MIL-OSI Global: Columbus who? Decolonizing the calendar in Latin America

    Source: The Conversation – USA – By Elena Jackson Albarrán, Associate Professor of History and Global and Intercultural Studies, Miami University

    Demonstrators make graffiti reading ‘Columbus Out, Long Live the People’ on a fence protecting a statue of Christopher Columbus in Mexico City on Oct. 12, 2020. Pedro Pardo/AFP via Getty Images

    This is the season of patriotism in Latin America as many countries commemorate their independence from colonial powers. From July to September, public plazas in countries from Mexico to Honduras and Chile fill with crowds dressed and painted in national colors, parades feature participants costumed as independence heroes, fireworks fill the skies, and schoolchildren reenact historical battles.

    Beneath these nationalist displays ripples an uneasy tide: the colonial legacies that still tie the Americas to their Iberian conquerors. And as the calendar turns to October, another holiday highlights similar tensions – Columbus Day.

    Since 1937, the U.S. has observed the holiday on the second Monday of the month, commemorating the explorer’s 1492 arrival in the New World. It remains a federal holiday, even as many states and cities rename it “Indigenous Peoples’ Day,” rejecting Christopher Columbus as a symbol of imperialism.

    Indigenous groups protest in front of a statue of Christopher Columbus on Oct. 12, 1997, during marches in Mexico against ‘Dia de la Raza’ celebrations.
    David Hernandez/AFP via Getty Images

    Most Latin Americans, meanwhile, know Oct. 12 as “Día de la Raza,” or Day of the Race, which also celebrates Columbus’ arrival in the New World and the tide of Iberian conquistadors that followed. But commemorating the event is all the more charged in these countries, home to the Spanish Empire’s most lucrative territorial assets and sweeping spiritual conquests. Days before taking office in September 2024, Mexican President Claudia Sheinbaum reiterated her predecessor’s demand that the king of Spain apologize for the genocide and exploitation of the conquest 500 years ago.

    As a historian of Latin America, I’ve paid attention to the ways calendars signal a nation’s “official” values and how countries wrestle with these holidays’ meanings.

    Día de la Raza

    The first encounter between Aztec emperor Montezuma and conquistador Hernando Cortés took place on Nov. 8, 1519 – the latter backed by an entourage of 300 Spaniards, thousands of Indigenous allies and slaves, and hundreds of Africans, free or otherwise.

    This moment of contact began Mexico’s 500-year transformation into a “mestizo” nation: a hybrid identity with largely European and Indigenous roots. During the colonial period, racial differences were codified into law, and those with “pure” Spanish bloodlines enjoyed legal privileges over the racially mixed categories that fell below them. The 19th century ushered in independence from Spain and liberal ideas that promoted racial equality – in principle – but in reality, European influence prevailed.

    It was Spain that first proposed the Día de la Raza, held on Oct. 12, 1892, to commemorate the 400-year anniversary of Columbus’ arrival in the Americas – implying a celebration of Spain’s contributions to the mestizo racial mixture.

    The celebration was part of a bid to fortify nationalism in Spain, as the waning colonial power continued its retreat from the hemisphere it controlled for the better part of four centuries. Spain also hoped to export the invented holiday to the Americas, strengthening trans-Atlantic cultural affinities tested by the United States’ growing sway. Across the Americas, Día de la Raza came to be synonymous with celebrating European influence.

    Decorations for ‘Día de la Raza,’ in the Monserrat neighborhood of Buenos Aires in 1929.
    Archivo General de la Nación/Wikimedia Commons

    In Mexico, the 1892 commemoration empowered members of the political elite who promoted European investments and culture as the model for modernizing the country. They used the occasion to extol the civilizing influence of the “madre patria,” or motherland, justifying the conquest and colonialism as a period of benevolent rule.

    Mestizo nationalism

    Only a few years later, however, the U.S. victory in the Spanish-American War swept the last vestiges of Spanish empire from the hemisphere. Spain’s exit made way for dual – and dueling – phenomena: rising patriotic spirit in Latin American countries, even amid increasing economic pressure and cultural influence from the U.S.

    The 1910 Mexican Revolution ignited mestizo nationalism, which soon extended to other countries. In 1930s Nicaragua, Augusto Sandino started a revolution to oust the occupying U.S. Marines while calling for the unification of the “Indo-Hispanic Race.” Meanwhile, Peruvian intellectual José Mariátegui envisioned a modern nation built upon the ideals of a collective, reciprocal society, modeled by the Incan ayllu system. And in Mexico, beauty pageants celebrating native features gained popularity among the social classes accustomed to perusing department stores for Parisian imports.

    Yet a tendency to emphasize Spanish cultural ancestry rather than Indigenous ones persisted. In the late 1930s, for example, October issues of Mexican children’s magazine Palomilla celebrated Columbus’ arrival as a heroic entry that provided the region with a common language and religion.

    Pan American Day

    Meanwhile, the U.S viewed Pan-Hispanic sentiments as a threat: Spanish economic goals, cloaked in racial and cultural solidarity.

    To help shore up hemispheric allegiances, Franklin D. Roosevelt proclaimed a new holiday on April 14, 1930: Pan American Day, or Día de las Américas. The holiday sought to offset the narratives of both Columbus Day and Día de la Raza and marked the U.S. administration’s Good Neighbor Policy pivot toward Latin America – a softer form of imperialism that promoted solidarity and brotherhood, at least on the surface.

    The Pan American Union, an inter-American organization headquartered in Washington, saw the new date as an opportunity to forge common traditions across the hemisphere. It vigorously promoted Pan American Day celebrations, primarily among schoolchildren, exhorting teachers to implement games, puzzles, pageants and songs created in Pan American Union offices.

    Students at Parkway Public School in New York present a pageant for Pan American Day in 1943.
    Bettmann/CORBIS/Bettmann Archive via Getty Images

    The holiday met enthusiastic reception in the United States. Midwesterners donned sombreros for parades, and Spanish language clubs in California hosted pageants celebrating the flags of American nations.

    But Latin American commemoration was tepid at best. The Organization of American States, the successor to the Pan American Union, still recognizes Pan American Day. However, it never gained traction in Latin America and faded in the U.S. during World War II.

    Recent shift

    Latin America’s ambivalence toward holidays to commemorate the colonizers has taken a turn since 1992. The 500-year anniversary of Columbus’ arrival corresponded with yet another form of colonialism, in many Latin Americans’ eyes, as a new wave of multinational corporations colluded with heads of state to tap the continent’s oil, lithium, water and avocados.

    Activists used the commemoration to call attention to lingering economic, social, racial and cultural inequities. In particular, the anniversary inspired Indigenous rights movements – some of which commemorated an “anti-quincentenary” to celebrate “500 years of resistance.”

    The Día de la Raza has since been renamed to reflect anti-colonial sentiments, similar to Columbus Day in the United States. Ecuador calls Oct. 12 the Day of Interculturalism and Ethnic Identity; Argentina celebrates it as Day of Respect for Cultural Diversity; Nicaragua now refers to it as the Day of Indigenous, Black and Popular Resistance; in Colombia it is the Day of Ethnic and Cultural Diversity; and the Dominican Republic celebrates it as Intercultural Day.

    A statue in honor of ‘women who fight’ has replaced an effigy of Christopher Columbus on Paseo de la Reforma Avenue in Mexico City.
    Pedro Pardo/AFP via Getty Images

    In some places, renaming the holiday has drawn attention to Indigenous rights and culture. Bolivians, for example, draped a statue of a European monarch in a traditional “aguayo” garment, transforming her into an Indigenous woman. However, critics suggest that removing the holiday’s reference to the colonizers erases an important reminder of the conquest and its painful legacy.

    As in the U.S., monuments to colonizers are coming down – including the monument to Columbus that occupied a conspicuous spot on La Reforma, one of Mexico City’s most-traversed thoroughfares.

    In its place is a new installation: a purple silhouette of a girl with her fist raised, in honor of Latin America’s women activists. She heralds a new era of statues lining La Reforma, and heroes for the future – not mired in the colonial legacies of the past.

    Elena Jackson Albarrán 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. Columbus who? Decolonizing the calendar in Latin America – https://theconversation.com/columbus-who-decolonizing-the-calendar-in-latin-america-233307

    MIL OSI – Global Reports –

  • MIL-OSI Global: The woman who revolutionized the fantasy genre is finally getting her due

    Source: The Conversation – USA – By Dennis Wise, Professor of Practice in English Literature, University of Arizona

    Hugo Award-winner Arthur C. Clarke called Judy-Lynn del Rey the ‘most brilliant editor I ever encountered.’ Artwork by Adriano Botega. Courtesy of Inspiration Films, LLC.

    Think of your favorite fantasy or science fiction novel. You’ll know the author and title, of course. But can you think of its editor or publisher?

    In publishing, the people who work behind the scenes rarely get their due. But on Oct. 1, 2024, at least, one industry pioneer got the limelight. On that day, PBS aired “Judy-Lynn del Rey: The Galaxy Gal,” the first episode of its new documentary series “Renegades,” which highlights little-known historical figures with disabilities.

    A woman with dwarfism, Judy-Lynn del Rey was best known for founding Del Rey Books, a science fiction and fantasy imprint that turned fantasy in particular into a major publishing category.

    As a scholar of fantasy literature, I had the good fortune to serve as research consultant for the PBS project. Due to time constraints, however, the episode could tell only half of del Rey’s story, passing over how she affected science fiction and fantasy themselves.

    Judy-Lynn del Rey, you see, had very clear notions on what kind of stories people wanted to buy. For some critics, she also committed the unforgivable sin of being right.

    The Mama of ‘Star Wars’

    Over the course of her career, del Rey earned a reputation as a superstar editor among her authors. Arthur C. Clarke, who co-wrote the screenplay for “2001: A Space Odyssey,” called her the “most brilliant editor I ever encountered,” and Philip K. Dick said she was the “greatest editor since Maxwell Perkins,” the legendary editor of Ernest Hemingway and F. Scott Fitzgerald.

    She got her start, though, working as an editorial assistant – in truth, a “gofer” – for the most lauded science fiction magazine of the 1960s, Galaxy. There she learned the basics of publishing and rose rapidly through the editorial ranks until Ballantine Books lured her away in 1973.

    Soon thereafter, Ballantine was acquired by publishing giant Random House, which then named del Rey senior editor. Yet her first big move was a risky one – cutting ties with Ballantine author John Norman, whose highly popular “Gor” novels were widely panned for their misogyny.

    Del Rey’s acquisition of the rights to ‘Star Wars’ was a boon for Ballantine.
    The Internet Speculative Fiction Database

    Nonetheless, del Rey’s mission was to develop a strong backlist of science fiction novels that could hook new generations of younger readers, not to mention adults. One early success was her “Star Trek Log” series, a sequence of 10 novels based on episodes of “Star Trek: The Animated Series.”

    But del Rey landed an even bigger success by snagging the novelization rights to a science fiction film that, at the time, few Hollywood executives believed would do well: “Star Wars.”

    This savvy gamble led to years of lucrative tie-in products for Ballantine such as calendars, art books, sketchbooks, the Star Wars Intergalactic Passport and, of course, more novels set in the Star Wars universe – so many different tie-ins, in fact, that del Rey dubbed herself the “Mama of Star Wars.”

    Afterward, she became someone who, as reporter Jennifer Crighton put it, radiated “with the shameless glee of one of the Rebel forces, an upstart who won.”

    A big player in big fiction

    Del Rey’s tendencies as an editor were sometimes criticized – often by competitors who could not match her line’s success – for focusing too much on Ballantine’s bottom line. But she also chose to work within the publishing landscape as it actually existed in the 1970s, rather than the one she only wished existed.

    In his book “Big Fiction,” publishing industry scholar Dan Sinykin calls this period the “Conglomerate Era,” a time when publishing houses – usually small and family run – were being consolidated into larger corporations.

    One benefit of this shift, however, was greater corporate investment in the industry, which boosted print runs, marketing budgets, author advances and salaries for personnel.

    Ballantine’s parent company, Random House, was also known as an industry leader in free speech, thanks to the efforts of legendary CEOs Bennett Cerf and Robert L. Bernstein.

    Accordingly, Random House gave their publishing divisions, including Ballantine, immense creative autonomy.

    And when del Rey was finally given her own imprint in 1977, she took her biggest risk of all: fantasy.

    The Del Rey era

    In prior decades, fantasy had a reputation for being unsellable – unless, of course, your name was J.R.R. Tolkien, or you wrote Conan-style barbarian fiction. Whereas the top science fiction magazines often had distinguished runs, fantasy magazines often folded due to lack of sales.

    The popular film version of ‘The Princess Bride’ was aided by del Rey’s earlier advocacy for reissuing the novel.
    The Internet Speculative Fiction Database

    In 1975, though, del Rey hired her husband, Lester del Rey, to develop a fantasy line, and when Del Rey Books launched two years later, it landed major successes with bestsellers such as Terry Brooks’ “The Sword of Shannara” and Stephen R. Donaldson’s “The Chronicles of Thomas Covenant the Unbeliever.” Yet even though Lester edited the fantasy authors, Judy-Lynn oversaw the imprint and the marketing.

    One lesser-known example of her prowess is “The Princess Bride.”

    Today, most people know the 1987 film, but the movie originated as a much earlier novel by William Goldman. The original 1973 edition, however, sold poorly. It might have faded into obscurity had del Rey not been determined to revive Ballantine’s backlist.

    She reissued “The Princess Bride” in 1977 with a dazzling, gate-folded die-cut cover and a new promotional campaign, without which the novel – and the film – might never have found its later success.

    Accolades accumulate

    Thanks to these efforts, Del Rey Books dominated genre publishing, producing more bestselling titles through 1990 than every other science fiction and fantasy publisher combined. Yet despite complaints that the imprint prioritized commercial success over literary merit, Del Rey authors earned their fair share of literary accolades.

    The prestigious Locus Poll Award for best science fiction novel went to Del Rey authors Julian May and Isaac Asimov in 1982 and 1983. Other Locus awardees include Patricia A. McKillip, Robert A. Heinlein, Larry Niven, Marion Zimmer Bradley and Barbara Hambly.

    Barry Hughart’s “Bridge of Birds” was one of two winners for the World Fantasy Award in 1985 and won the Mythopoeic Society Award in 1986. Even more impressively, Del Rey ran away with the Science Fiction Book Club Award during that prize’s first nine years of existence, winning seven of them. The imprint’s titles also won three consecutive August Derleth Fantasy Awards – now called the British Fantasy Award – from 1977 through 1979.

    Yet despite these accolades, Del Rey’s reputation continued to suffer from its own commercial success. Notably, Judy-Lynn del Rey was never nominated for a Hugo Award for best professional editor. When she died in 1986, the Hugo committee belatedly tried granting her a posthumous award, but her husband, Lester, refused to accept it, saying that it came too late.

    Although the current narrative continues to be that Del Rey Books published mainly formulaic mass-market fiction in its science fiction and fantasy lines, the time may be ripe to celebrate the foresight and iconoclasm of a publisher who expanded speculative fiction beyond the borders of a small genre fandom.

    I was research consultant for the PBS episode mentioned in the article, but I am not an employee of PBS or any other organization mentioned in this article.

    – ref. The woman who revolutionized the fantasy genre is finally getting her due – https://theconversation.com/the-woman-who-revolutionized-the-fantasy-genre-is-finally-getting-her-due-240198

    MIL OSI – Global Reports –

  • MIL-OSI Global: DEA could reclassify marijuana to a less restrictive category – a drug policy expert weighs the pros and cons

    Source: The Conversation – USA – By Chris Meyers, Adjunct Professor of Philosophy, George Washington University

    The move would not make marijuana legal at the federal level for recreational use and would require dispensaries to comply with medical marijuana requirements. Nathalie Jamois/SOPA Images, LightRocket via Getty Images

    The Drug Enforcement Administration announced in early 2024 that it would act on President Joe Biden’s call to reclassify marijuana, moving it from the tightly controlled Schedule I category that it has been in since 1970 to the less restrictive Schedule III status of the Controlled Substances Act. That triggered a long process of hearings and reviews that will not be completed until after the presidential election in November.

    The news drew strong reactions from critics: 25 Republican lawmakers sent a letter to Attorney General Merrick Garland protesting any changes to federal marijuana laws. They argued that the decision “was not properly researched … and is merely responding to the popularity of marijuana and not the actual science.”

    As a philosopher and drug policy expert, I focus on assessing arguments and evidence rather than politics or rhetoric. So, what are the arguments for and against rescheduling cannabis?

    Scheduling under the Controlled Substances Act

    The Controlled Substances Act places each prohibited drug into one of five schedules based on known medical use, addictive potential and safety. Schedule I drugs – which, along with marijuana, also includes heroin, LSD, psilocybin, ecstasy (MDMA) and quaaludes – is the most restrictive category.

    Schedule I substances cannot be legally used for any purpose, including medical use or research, though an exception for research can be made with special permission from the DEA. The criteria for inclusion in the Schedule I category is that the substance has a high potential for abuse, is extremely addictive and has “no currently accepted medical use.”

    Schedule II, which is slightly less restrictive than Schedule I, includes drugs that are addictive and potentially unsafe but also have some accepted medical use. These include strong opioids such as fentanyl, as well as cocaine, PCP and methamphetamine. Though they are still tightly regulated, Schedule II drugs can be used medically with a prescription or administered by a licensed physician.

    Schedule III is much less restrictive and is intended for substances with legitimate medical use and only moderate risk of abuse or dependency. This category includes low-dose morphine, anabolic steroids and ketamine.

    Schedule IV – which includes the sedative valium, the weak opioid tramadol and sleep medicines such as Ambien – is even less restrictive.

    The least restrictive category is Schedule V, which includes cough syrups with codeine and calcium channel blockers such as gabapentin and pregabalin. All scheduled drugs require a doctor’s prescription and can be distributed only by licensed pharmacies.

    What rescheduling would mean for marijuana

    The push to reschedule is largely to make federal laws consistent with state medical marijuana programs that – as of October 2024 – are legal in 38 states plus the District of Columbia.

    Moving marijuana to Schedule III would not change its legal status in states where it is banned. It would make marijuana legal at the federal level but only for medical use. Recreational use would still be federally prohibited, even though it is currently legal in 24 states plus Washington.

    Rescheduling, however, might not make medical marijuana any easier for patients to access and could even make it much harder for some. Currently, getting a medical marijuana card is quite easy in most states. In Washington D.C., where I live, patients can self-certify.

    Reclassifying marijuana as a Schedule III drug would legitimize its medical use.

    If marijuana is reclassified as Schedule III, medical marijuana programs will have to start requiring a doctor’s prescription, just like with all other scheduled substances. And it could be distributed only by licensed pharmacies, which would put medical dispensaries that are now selling it without a license from the Food and Drug Administration out of business.

    Rescheduling, however, would give medical marijuana legitimacy as a bona fide medicine. And the intent of the move is to increase access, even if it is unclear how rescheduling would achieve that.

    So, assuming that rescheduling would have the intended effect of expanding access to medical marijuana, should it be rescheduled?

    Medical uses of marijuana

    Though there are three criteria for Schedule I in the Controlled Substances Act, the DEA in fact relies on only the medical use criterion. This was the basis of the DEA’s proposal to reschedule marijuana. The fact that almost 75% of Americans live in a state with a medical marijuana program suggests that marijuana has an accepted medical use.

    More importantly, Schedule III of the Controlled Substances Act already includes dronabinol, which is delta-9 THC, the active ingredient in marijuana. Although dronabinol is synthesized in the lab rather than extracted from the cannabis plant, it is the exact same molecule. The FDA approved THC in the form of dronabinol in 1985 for treating anorexia caused by HIV/AIDS as well as nausea and vomiting due to chemotherapy. Placing marijuana in the same schedule as its primary active ingredient makes a lot of sense.

    Another argument in favor of rescheduling is that it would open up new opportunities for medical research into marijuana’s effects, research that is currently hampered by its Schedule I status. This work is critical because the system of cannabinoid receptors through which marijuana causes its therapeutic and psychoactive effects is crucial for almost every aspect of human functioning.

    Research has shown that cannabis is effective not only in treating nausea and AIDS but also chronic pain and some symptoms of multiple sclerosis.

    There is also good evidence that marijuana can help treat other conditions, including Lou Gehrig’s disease (amyotrophic lateral sclerosis, or ALS), glaucoma, irritable bowel syndrome, insomnia, migraine, post-traumatic stress disorder and Tourette syndrome. Keeping marijuana in the Schedule I category severely hampers research that might establish more effective treatments for these conditions.

    Researchers have been extremely limited in their abilities to study marijuana because of its Schedule I classification.

    Balancing risks and benefits

    Those opposed to rescheduling cite possible health risks associated with marijuana consumption. Heavy use is linked to an increased risk of developing schizophrenia. However, the increased risk of schizophrenia from cannabis use is comparable to that caused by watching excessive television, eating junk food or smoking cigarettes.

    Long-term marijuana use can also lead to sleep problems and diminished visuospatial memory. It can also cause gastrointestinal trouble, such as cannabis hyperemesis syndrome, which is characterized by nausea, vomiting and abdominal pain. The symptoms, while extremely unpleasant, are temporary and occur only after consuming marijuana. The condition disappears in people who stop using.

    Marijuana use can also be addictive. According to the Centers for Disease Control and Prevention, about three out of every 10 regular marijuana users meet the diagnostic criteria for cannabis use disorder.

    All of the concerns above are legitimate, though it is worth noting that virtually no effective medicine is free from undesirable side effects. And although marijuana can be habit-forming, it is not as addictive as alcohol, tobacco, oxycodone, cocaine, methamphetamine or benzodiazepines. None of those other drugs are categorized as Schedule I, and alcohol and tobacco are not scheduled at all.

    Unlike most other prescription medications, marijuana use is associated with many benefits. For example, in states where marijuana has been legalized, worker’s compensation payments have fallen by an average of 21% among people over 40. Researchers think that this is because marijuana helps workers better manage chronic pain. The use of marijuana for pain management also helps to reduce dependency on opioids. One study found that U.S. counties with one or two marijuana dispensaries had an average of 17% fewer opioid-related fatalities compared with counties with no dispensaries.

    Research also shows that marijuana use can help to prevent Alzheimer’s by blocking the enzymes that produce amyloid plaques. It also shows promise for reducing a person’s risk of developing Type 2 diabetes by helping the body regulate insulin and glucose levels.

    All of these benefits add up to marijuana users having an overall lower rate of premature death than nonusers.

    Chris Meyers 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. DEA could reclassify marijuana to a less restrictive category – a drug policy expert weighs the pros and cons – https://theconversation.com/dea-could-reclassify-marijuana-to-a-less-restrictive-category-a-drug-policy-expert-weighs-the-pros-and-cons-237199

    MIL OSI – Global Reports –

  • MIL-OSI Banking: Danmarks National­bank’s comments on the Economic Council’s discussion paper, Autumn 2024

    Source: Danmarks Nationalbank

    Danmarks Nationalbank generally shares the Chairmanship’s assessment of the outlook for the Danish economy and the risk outlook. Interest rate rises in recent years have contributed to slowing growth in the Danish and international economy and to a fall in inflation. This has prompted the European Central Bank (ECB) and others to ease monetary policy again. Like the Chairmanship, Danmarks Nationalbank believes that the development of the Danish economy has been characterised by a dichotomy in recent years. On the one hand, there has been a slowdown in growth in most parts of the domestic economy, while on the other, there has been an increase in exports, in particular driven by production abroad under Danish ownership, known as merchanting and processing (M&P). Like the Chairmanship, Danmarks Nationalbank assesses that M&P activities as such have only a minor impact on the domestic cyclical position. M&P is expected to make a significant contribution to growth in the Danish economy over the next few years, while the rest of the export-oriented industries are also expected to grow. Domestic demand is expected to pick up as real wage growth and gradually looser monetary policy translate into increased private consumption and investment.

    The Chairmanship believes that the Danish economy is currently experiencing a boom with more than normal pressure on the labour market. Danmarks Nationalbank shares the view that there is still some pressure on the labour market, although it has eased compared to a few years ago. However, Danmarks Nationalbank believes that the pressure on the labour market, measured by the employment gap, has eased to a greater extent and that it is currently smaller than the Chairmanship’s assessment. This is supported by a number of indicators such as the labour shortages and number of vacancies reported by companies, both of which indicate that the pressure has eased compared to a few years ago. Unlike the Chairmanship, Danmarks Nationalbank believes that the Danish economy is currently in an approximately neutral cyclical position.

    Danmarks Nationalbank share the Chairmanship’s expectations that wage growth will slow down next year due to less pressure on the labour market and significantly lower inflation. However, Nationalbanken also expect lower wage increases than the Chairmanship. Inflation is currently fuelled by domestic factors, and Danmarks Nationalbank expects to a larger extend than the Chairmanship that the current high wage increases will lift inflation going forward. Nationalbanken therefore expect slightly higher consumer price increases than the Chairmanship next year.

    Like the Chairmanship, Danmarks Nationalbank believes that monetary and fiscal policy is still needed to contribute to an appropriate development in the business cycle in Denmark, which will support stable price development. Nationalbanken has raised interest rates significantly since the summer of 2022 as a result of the tightening of monetary policy implemented by the ECB in the euro area to bring down inflation. The Chairmanship believes that monetary policy has dampened activity in recent years and will also dampen activity next year, whereas fiscal policy is expected to counteract this in 2025. Specifically, the Chairmanship estimates that fiscal policy has been eased by around 1 per cent of GDP in 2025 compared to 2023. Based on the assessment of the current situation of high capacity pressures, the Chairmanship believes that fiscal policy should be tightened. From a purely stabilisation point of view, it is considered appropriate to tighten fiscal policy to return it approximately to the level of 2023.

    In the current situation with continued high wage increases and some pressure on the labour market, including low unemployment, Danmarks Nationalbank shares the Chairmanship’s assessment that this is a good time to ease fiscal policy to the extent proposed in the government’s proposal for the 2025 budget. However, Danmarks Nationalbank believes that a tightening of the magnitude recommended by the Chairmanship would be too much. This is due to the fact that inflation has fallen sharply and that pressure on the labour market has been reduced over the past few years. Danmarks Nationalbank also believes that monetary policy and financial conditions remain tight in Denmark.

    Danmarks Nationalbank agree with the Chairmanship that the green tripartite agreement (“Agreement on a Green Denmark”) is a step towards uniform taxation of carbon emissions in Denmark, but that the effective tax level, including the proposed basic deduction, is still lower in agriculture than in other industries. Danmarks Nationalbank also shares the Chairmanship’s assessment that there is a risk of the reductions assumed in the agreement not being realised, partly because the agreement involves untested technologies. Thus, it remains unclear whether the carbon tax level is sufficient to ensure the fulfilment of the objectives of the Climate Act. Clarity on future tax levels contributes to price and financial stability by clarifying risks associated with emission-intensive business models.

    Danmarks Nationalbank contributed to the work of the “Expert Group for a Green Tax Reform” in 2023 by assessing the impact of carbon taxes on agriculture on banks and mortgage credit institutions. Danish banks and mortgage credit institutions are generally expected to be well equipped to handle any losses resulting from a carbon tax. This is due to their ongoing profits, a decrease in the institutions’ total lending to the industry and a generally high level of security in underlying collateral.

    MIL OSI Global Banks –

  • MIL-OSI: Banzai Announces Strategic Business Initiatives to Improve Net Income by up to $13.5 Million Annually

    Source: GlobeNewswire (MIL-OSI)

    Plan Substantially Extends Cash Runway while Maintaining Growth Plan with
    Continued Investment in Software Platform and Marketing

    SEATTLE, Oct. 09, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced a comprehensive initiative designed to significantly improve its Net Income while maintaining its growth outlook. The Company plans to accomplish this through a reduction of its annual operational expenses by up to $9.9 million by March 31, 2025, along with a reduction in other expenses by up to $3.6 million.

    Overall improvement in Net Income is expected to be approximately $13.5 million annually when fully implemented.

    The strategic initiative includes a broad range of measures including strategic workforce adjustments, operational consolidation, and various other cost-saving actions. These measures are aimed at increasing efficiency and improving scalability while continuing to build Banzai’s leadership position in the marketing technology industry. Specifically, Banzai expects to:

    Implement Workforce Adjustments

    Banzai has undertaken a strategic adjustment to reduce its staffing and independent contractor expenses by 27%, which will preserve the company’s agility and innovation capacity. Affected employees will be supported with comprehensive severance packages and resources for career transition. The Company anticipates that the total cost to implement this plan will be $0.1 million.

    Reduce Interest Expense

    Banzai has restructured its long-term debt with Columbia Pacific Advisors (“CP BF”) such that the long-term debt maturity is extended until February 19, 2027 from February 19, 2025, and 100% of interest expense is now Payable-in-Kind (“PIK”) instead of payable in cash. This substantially reduces the Company’s cash expenses. If fully converted to equity under the restructured note, the entire $1.9m annual expense would be eliminated.

    Realize Vendor Cost-Savings

    Banzai has begun implementing, and will continue to implement, a series of additional measures to further reduce expenses. These will include curtailing discretionary spending, cost-reduction measures for certain legal and accounting expenses, reduction of real-estate expenses, and leveraging automation and digital technologies to enhance operational efficiency.

    “Alongside the $5m private placement transaction and debt restructuring transactions the company has executed in the last two weeks, we believe that implementing this strategic initiative, if fully achieved, will enable us to substantially extend our cash runway and invest in growth,” said Joe Davy, CEO of Banzai. “We are dedicated to managing costs efficiently while still advancing innovative products and maintaining the exceptional service our customers rely on, all without sacrificing growth. We will continue to invest in our software platform, sales and marketing and product development. We are confident that this strategic realignment will strengthen our competitive position and contribute to our long-term success.”

    About Banzai

    Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at http://www.banzai.io. For investors, please visit https://ir.banzai.io.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations:
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    http://www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network –

  • MIL-OSI: Click Holdings Limited Announces Pricing of $5.6 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Hong Kong, Oct. 09, 2024 (GLOBE NEWSWIRE) — Click Holdings Limited (“CLIK” or the “Company”), a Hong Kong-based human resources solutions provider primarily focusing on talent sourcing and the provision of temporary and permanent personnel to customers including accounting and professional firms, Hong Kong-listed companies, nursing homes, individual patients, logistics companies and warehouses, today announced the pricing of its firm commitment initial public offering of an aggregate 1,400,000 Ordinary Shares (the “Offering”). The Offering is priced at $4.00 per share (the “Offering Price”) for gross proceeds of $5.6 million to the Company, before deducting underwriting discounts and offering expenses.

    The Company has granted the underwriters an option, exercisable for 45 days from the closing of this Offering, to purchase up to an additional 210,000 Ordinary Shares at the Offering Price, representing 15% of the Ordinary Shares sold in the Offering (the “Over-allotment”).

    The Ordinary Shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “CLIK” on October 9, 2024. The Offering is expected to close on or about October 10, 2024, subject to the satisfaction of customary closing conditions.

    R.F. Lafferty & Co., Inc. (“Lafferty”), a full-service broker/dealer, is acting as the primary underwriter for the Offering. Revere Securities LLC (“Revere”), a full-service broker/dealer, is acting as the co-manager for the Offering. Dorsey & Whitney LLP, David Fong & Co, Beijing Dacheng Law Offices, LLP (Shenzhen) and Ogier are acting as U.S., Hong Kong, PRC, and BVI legal counsels to the Company, respectively. Wei, Wei & Co., LLP is acting as the independent accountants of the Company. VCL Law LLP is acting as the U.S. legal counsel to Lafferty and Revere for the Offering.

    The Offering is being conducted pursuant to the Company’s registration statement on Form F-1 (File No. 333-280522), as amended, which was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2024. The Offering is being made only by means of a prospectus, forming part of the registration statement. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. Copies of the final prospectus related to the Offering may be obtained, when available, from R.F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005, by phone at +1 212 293 9090 or by email at offerings@rflafferty.com; or Revere Securities LLC, 560 Lexington Ave 16th floor, New York, NY, 10022, by phone at +1 212 688 2350 or by email at contact@reveresecurities.com. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at http://www.sec.gov.

    This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

    About Click Holdings Limited

    Click Holdings Limited is a human resources solutions provider, specializing in offering comprehensive human resources solutions in three principal sectors, namely (i) professional solution services, (ii) nursing solution services, and (iii) logistics and other solution services. We are primarily focused on talent sourcing and the provision of temporary and permanent personnel to customers. Our primary market is in Hong Kong and our diverse clientele includes accounting and professional firms, Hong Kong listed companies, nursing homes, individual patients, logistics companies and warehouses. We specialize primarily in placing professional accountants and company secretaries, registered nurses and healthcare workers, as well as other blue-collar workers, for direct hire and contract staffing roles. For more information, please visit http://www.clicksc.com.hk.

    FORWARD-LOOKING STATEMENTS

    Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Click Holdings Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

    For more information, please contact:

    offerings@rflafferty.com
    Equity Capital Markets
    R. F. Lafferty & Co., Inc.
    40 Wall Street, 27th Floor, 
    New York, NY 10005
    212.293.9090

    The MIL Network –

  • MIL-OSI: SIMPPLE Ltd. Announces New Contracts and Partnerships in Australia and New Zealand

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Oct. 09, 2024 (GLOBE NEWSWIRE) — SIMPPLE Ltd. (NASDAQ: SPPL) (“SIMPPLE” or “the Company”), a leading technology provider and innovator in the facilities management (FM) sector, today announced the closing of multiple contracts and strategic partnerships in Australia and New Zealand (ANZ). The contracts included agreements to provide:

    • an end-to-end integrated cleaning services and compliance solution incorporating workforce management, IoT sensors and robotics, at two international and one regional Australian airport, to the aviation services arm of a global Danish outsourcing company with annual revenue of over $11 billion;
    • a cleaning services and compliance solution, at five campuses of an Australian university, to the education services arm of that same Danish company;
    • a cleaning services and compliance solution, at a food manufacturing plant in Sydney, to the manufacturing services division of a global UK-headquartered facilities management services company with annual revenue of over $2 billion; and
    • a cleaning services and compliance solution, at a major retail centre in Sydney, for another division of that same UK-headquartered company.

    Aggregate revenue from these four contracts is projected at approximately $2.35 million.

    SIMPPLE’s recently completed strategic partnerships include five collaborations aimed at distributing SIMPPLE Robotics and software capabilities and building a service delivery, maintenance and support network across ANZ. These new partners include:

    • a provider of robotic solutions and services to the hospitality, retail and healthcare industries in Australia;
    • a Sydney-headquartered supplier of autonomous security robots and other technology solutions to major corporate and government customers in Australia;
    • a Sydney-headquartered retailer and wholesaler of cleaning equipment and supplies;
    • a Brisbane-headquartered supplier of cleaning, catering, hospitality, health and hygiene supplies to businesses in Australia; and
    • a supplier of A.I. robotic solutions in New Zealand.

    Spearheading the closing of these contracts and partnerships was the new leadership team at the recently established SIMPPLE Australia Pty Ltd subsidiary in Brisbane. This team includes Aloysius Chong, SIMPPLE’s former CEO relocated in February 2023 to Australia to serve as SIMPPLE Australia Pty Ltd’s Director of Brand and Product Strategy; James Yatras, appointed in February 2023 as SIMPPLE’s Head of Australia and New Zealand; and Greg Crisp, appointed in June 2024 as the Company’s Regional Sales Director for Australia and New Zealand.

    “These contracts and partnerships mark a significant step in our strategic expansion into the lucrative Australia and New Zealand markets,” said SIMPPLE Ltd CEO Norman Schroeder. “These agreements also highlight our Company’s capability to venture into a wide range of new sectors covering aviation, education, healthcare, and manufacturing – a significant expansion from our existing retail, institutions, and commercial office sectors.”

    The new agreements, he said, also stem from the unique position, held by SIMPPLE Australia Pty Ltd and its ANZ partners, of being that region’s only supplier of end-to-end facilities management solutions able to integrate software, robotics, ESG auditing and reporting, IoT sensors and other diverse data collection technologies into a single platform.

    This platform, he added, is built modular to accommodate small businesses, yet can be scaled up and/or down to meet the variable requirements of large enterprise-wide organizations.

    “Going forward,” said the CEO, “we believe the ANZ region offers SIMPPLE major growth potential. I am confident that our Australia Pty Ltd team is expertly positioned to drive this growth by providing targeted best of breed solutions to facility owners, operators, and service providers in this market.”

    Mr. Schroeder underscored the Company’s potential in the ANZ market by referencing SIMPPLE Australia Pty Ltd’s announcement, on September 12, that its new range of AI spot cleaning robots had received the Excellence Award (Innovation) for Large Equipment at the International Sanitary Supply Association (ISSA) Cleaning & Hygiene Expo in Sydney.

    According to recent data from Expert Market Research, the Australia facility management market was valued at $37.37 billion in 2023 and is projected to grow at a CAGR of 4.5% to reach a value of $56.93 billion by 2032. This growth, said the study, is expected to be driven by rising numbers of infrastructure development projects, increased focus on sustainability and cost optimization, and the growing need for outsourcing of technology integration services within facilities.

    A Mordor Intelligence report projected that the facilities management markets in Australia and New Zealand are expected to grow at a CAGR of 8.1% and 2.5%, respectively, from 2024 through 2029. Growth in Australia, said Mordor, is expected to be fuelled by multiple industries adopting integrated FM services models that can meet all core customer needs on a large scale, and by those FM models incorporating newer technologies allowing for intelligent buildings and work environments. Future New Zealand FM sector growth, said the report, will be spurred by increasing end-user awareness of the need for energy conservation and developed building infrastructure.

    “The possibilities for SIMPPLE in ANZ are plentiful,” concluded Mr. Schroeder. “We look forward to announcing further progress for this region in the near future.”

    About SIMPPLE LTD.

    Headquartered in Singapore, SIMPPLE LTD. is an advanced technology solution provider in the emerging PropTech space, focused on helping facilities owners and managers manage facilities autonomously. Founded in 2016, the Company has a strong foothold in the Singapore facilities management market, serving over 60 clients in both the public and private sectors and extending out of Singapore into Australia and the Middle East. The Company has developed its proprietary SIMPPLE Ecosystem, to create an automated workforce management tool for building maintenance, surveillance and cleaning comprised of a mix of software and hardware solutions such as robotics (both cleaning and security) and Internet-of-Things (“IoT”) devices. 

    For more information on SIMPPLE, please visit: https://www.simpple.ai

    Safe Harbor Statement

    This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.

    Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

    For investor and media queries, please contact:
    SIMPPLE LTD.
    Investor Relations Department
    Email: ir@simpple.ai

    Visit the Investor Relation Website: https://www.investor.simpple.ai/

    Skyline Corporate Communications Group, LLC
    Scott Powell, President
    1177 Avenue of the Americas, 5th Floor
    New York, NY 10036
    Tel: (646) 893-5835
    Email: info@skylineccg.com  

    The MIL Network –

  • MIL-OSI: Delaware State Dental Society Endorses Five iCoreConnect Products

    Source: GlobeNewswire (MIL-OSI)

    OCOEE, Fla., Oct. 09, 2024 (GLOBE NEWSWIRE) — iCoreConnect Inc. (NASDAQ: ICCT) (“iCore” or the “Company”), a leading provider of cloud-based software and technology solutions, announced a new endorsement agreement with the Delaware State Dental Society (DSDS). This partnership marks another milestone in iCoreConnect’s continued growth among state dental associations nationwide.

    With this endorsement, DSDS joins numerous other state dental associations that have recognized the value of iCoreConnect’s innovative solutions. iCoreConnect now holds over 180 product endorsement agreements across various states, solidifying its reputation as a trusted partner in the dental industry.

    Robert McDermott, CEO of iCoreConnect, commented, “DSDS, along with other state dental associations, plays a crucial role in advocacy, education, practice management, and public health initiatives. This endorsement highlights DSDS’s commitment to advancing the dental profession and enhancing patient care in Delaware.”

    The endorsed iCoreConnect products include:

    Dr. Tom Howley, Executive Director of DSDS, shared his enthusiasm for the collaboration, stating, “We are excited to announce this endorsement. iCoreConnect’s cutting-edge solutions enhance the productivity and efficiency of our members. Their proven success with state associations nationwide makes us eager to welcome them to Delaware.”

    iCoreConnect’s involvement in continuing education, networking, and practice management support positions it as a valuable partner for state dental associations. With its growing number of endorsements, the company now serves approximately 155,000 dental professionals across the U.S., using these endorsements as key tools for product distribution and lead generation.

    For more information about iCoreConnect or to schedule a demo, visit iCoreConnect.com.

    About iCoreConnect

    iCoreConnect Inc. is a market leader in cloud-based software and technology solutions designed to improve workflow productivity and profitability in the enterprise, healthcare and dental sectors. Through its innovative platform of applications and services, iCoreConnect helps organizations optimize their operations and achieve better business outcomes.

    About the Delaware State Dental Society

    The Delaware State Dental Society (DSDS) represents 80% of Delaware’s licensed dentists. The mission of DSDS is to advocate for the highest continuing education for member dentists as well as community engagement across the state of Delaware through coordinated volunteer programs.

    Forward-Looking Statements

    Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately’ or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

    Investor Contacts:
    IR@icoreconnect.com
    888.810.7706, ext 5

    The MIL Network –

  • MIL-OSI: Form 8.3 – [ECKOH PLC – 08 10 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 ECKOH PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 08 OCTOBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 21,018,836 7.2337    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 21,018,836 7.2337    

    NOTE: 26,785 shares were transferred in by a discretionary client on 08/10/2024.

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    10p ORDINARY SALE 23,435 40.26p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 09 OCTOBER 2024
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Banking: Secretary-General of ASEAN joins ASEAN Leaders’ Interface with Representatives of ASEAN Youth

    Source: ASEAN

    Secretary-General of ASEAN joined the ASEAN Leaders in a dialogue with youth representatives during the ASEAN Leaders’ Interface with ASEAN Youth, held on the sidelines of the 44th and 45th ASEAN Summit and Related Summits. The session highlighted the critical role of youth in driving the region’s future, aligned with ASEAN’s commitment to fostering a more inclusive and forward-looking community.

    The post Secretary-General of ASEAN joins ASEAN Leaders’ Interface with Representatives of ASEAN Youth appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN meets with the President of the AIIB

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, met with President of the Asian Infrastructure Investment Bank (AIIB), H.E. Jin Liqun, on the sidelines of the 44th and 45th ASEAN Summits and Related Summits in Vientiane, Lao PDR today. SG Dr. Kao commended the AIIB’s efforts in advancing connectivity and infrastructure development and looked forward to having deeper cooperation between ASEAN and AIIB in enhancing connectivity in the region.

    The post Secretary-General of ASEAN meets with the President of the AIIB appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Security: Defense News: USS Comstock returns to San Diego after Indo-Pacific deployment

    Source: United States Navy

    SAN DIEGO — The Whidbey Island-class dock landing ship USS Comstock (LSD 45) returned to homeport in San Diego, following a nearly four-month deployment to the U.S. 7th Fleet area of operations, Oct. 8.

    Along with its more than 400 Sailors, Comstock participated in multiple exercises and operations, displaying interoperability and the U.S. commitment to a free and open Indo-Pacific region.

    “The Sailors aboard Comstock performed their duty in an exemplary manner to support tasking in U.S. 7th Fleet,” said Cmdr. Byron Stocks, commanding officer of Comstock. “The mission execution afforded the opportunity to demonstrate joint force capability.”

    With a focus on joint operations, Comstock and its embarked units supported the America Amphibious Ready Group and the 31st Marine Expeditionary Unit (MEU) during advanced integrated training and MEU certification. Comstock also successfully integrated with motorized weapons company of 31st MEU and Combat Logistics Battalion 31.

    During the deployment, Comstock embarked two landing crafts utility from Naval Beach Group 7 to rehearse and demonstrate capability of the amphibious Navy’s shore connectors.

    Comstock also participated in Exercise Ssang Yong 24. During the decisive action phase of Ssang Yong, Republic of Korea and U.S. combined and joint forces conducted large-scale maneuvers from sea and air to showcase the overwhelming power of the alliance and its capability to carry out combined amphibious operations.

    Since 2012, the ROK and U.S. Navy and Marine Corps have regularly conducted Ssang Yong to enhance defensive posture on the Korean Peninsula while improving naval and amphibious capabilities.

    After Ssang Yong, Comstock transited home to San Diego following a nearly four-month deployment.

    When not at sea, Comstock Sailors had the opportunity to enjoy foreign cultures during port visits to Guam, Japan, and Republic of Korea.

    USS Comstock is homeported at Naval Base San Diego and assigned to Amphibious Squadron 1.

    An integral part of U.S. Pacific Fleet, U.S. 3rd Fleet leads naval forces in the Indo-Pacific and provides the realistic, relevant training necessary to flawlessly execute our Navy’s role across the full spectrum of military operations—from combat operations to humanitarian assistance and disaster relief. U.S. 3rd Fleet works together with our allies and partners to advance freedom of navigation, the rule of law, and other principles that underpin security for the Indo-Pacific region.

    For more information on Comstock, please visit https://www.surfpac.navy.mil/lsd45/

    MIL Security OSI –

  • MIL-OSI Asia-Pac: New trade in services pact signed

    Source: Hong Kong Information Services

    The Hong Kong Special Administrative Region Government and the Ministry of Commerce today signed the Second Agreement Concerning Amendment to the Mainland & Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II).

    Chief Executive John Lee witnessed the signing of the new agreement by Financial Secretary Paul Chan and Deputy China International Trade Representative of the Ministry of Commerce Li Yongjie this afternoon.

    Scheduled to be implemented on March 1, 2025, the Amendment Agreement II introduces new liberalisation measures across several service sectors where Hong Kong enjoys competitive advantages, such as financial services, construction and related engineering services, testing and certification, telecommunications, motion pictures, television and tourism services.

    The Trade & Industry Department explained that the liberalisation measures take various forms, including removing or relaxing restrictions on equity shareholding and business scope in the establishment of enterprises, relaxing qualification requirements for Hong Kong professionals providing services, and easing restrictions on Hong Kong’s exports of services to the Mainland market.

    Most of the measures apply to the whole Mainland, while some of them are designated for pilot implementation in the nine Pearl River Delta municipalities in the Guangdong-Hong Kong-Macao Greater Bay Area, it added.

    The Chief Executive thanked the central government for its care and support for the Hong Kong SAR, as well as the Ministry of Commerce and relevant authorities for actively working towards the Hong Kong SAR Government’s proposal of further opening up the Mainland market to Hong Kong in trade in services.

    “The Amendment Agreement II introduces new liberalisation measures across different service sectors where Hong Kong enjoys competitive advantages, making it easier for Hong Kong service suppliers to establish enterprises and develop business on the Mainland, enabling more Hong Kong professionals to obtain qualifications to practise on the Mainland, allowing more of Hong Kong’s quality services to be provided to the Mainland market, and contributing to and serving the country’s development,” he said.

    “The Hong Kong SAR Government will continue to encourage different sectors of the community to leverage the unique advantages of ‘one country, two systems’ and join hands with their counterparts on the Mainland to promote the competitiveness of the professional services sector, in order to inject new impetus to economic development and achieve high-quality development.”

    Speaking at a media session after the signing ceremony, the Financial Secretary pointed out that the further relaxation under CEPA will enable Hong Kong firms and professional sectors to get into the Mainland market a lot easier.

    “Depending on specific sectors, the progress will be different. But I am sure for the professional sectors, people are very keen to expand their foothold into the Mainland by using the Greater Bay Area as the starting point. So this will have a very positive impact on Hong Kong,” Mr Chan said.

    An example of the measures regarding construction and related engineering services is that Hong Kong general practice surveying enterprises will be allowed to provide professional services in Guangdong Province through filing of records.

    For tourism services, there will be measures to optimise the implementation of the 144-hour visa-exemption policy for foreign group tours entering Guangdong from Hong Kong.

    Mr Chan said the Government will be communicating with the different sectors and working with the different stakeholders to move as fast as possible, to materialise the various implementation details, so that the businesses and professionals in Hong Kong would find it useful and easier to expand into the Mainland.

    Furthermore, the department noted that the Amendment Agreement II brings institutional innovation and collaboration enhancement, including the addition of allowing Hong Kong-invested enterprises to adopt Hong Kong law and allowing Hong Kong-invested enterprises to choose for arbitration to be seated in Hong Kong.

    It also added commitments regarding domestic regulation to ensure the transparency, predictability and efficiency of regulations on trade in services.

    In addition, the new agreement removed the period requirement on Hong Kong service suppliers to engage in substantive business operations in Hong Kong for three years in most service sectors.

    This will allow Hong Kong startups to enjoy the preferential treatment under CEPA in a shorter time and attract enterprises and talent from around the world to establish a presence in Hong Kong and explore the Mainland market, the department noted.

    MIL OSI Asia Pacific News –

  • MIL-OSI: StepStone Private Wealth Surpasses $5 Billion in AUM Milestone

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 09, 2024 (GLOBE NEWSWIRE) — StepStone Private Wealth (“SPW”) today announced it has surpassed $5 billion in global assets under management, making it one of the fastest growing private market asset managers serving financial professionals and their high net worth clients.

    Powered by StepStone Group, one of the largest global institutional allocators to the private markets, SPW was founded in 2019 to expand access to these assets for the private wealth market.

    “In 2019, the mission of our founding team was to design a platform where financial professionals could more easily access private markets, reducing the friction and burden of investing in these opportunities,” said Bob Long, CEO of StepStone Private Wealth. “Reaching $5 billion in AUM in five years demonstrates that advisors are eager to allocate client assets to portfolios curated by an organization as globally respected as StepStone – comprised of world-class expertise and top talent across investing, operations, data & analytics, legal, marketing and distribution. We expect that our team, with their focus on bringing convenience, transparency and efficiency to private markets investing for our clients and prospective clients, will be central to our success as we continue our global expansion.”

    SPW launched its first registered closed-end evergreen fund – the StepStone Private Markets Fund or SPRIM, ticker: XPMIX – in 2020, allowing accredited investors to gain exposure to private equity, real assets, and private debt through one convenient vehicle. SPRIM transitioned to daily admittance and daily valuation in 2023, among the first in the industry to introduce a daily NAV for a multi asset-class private markets fund. As of September 30, 2024 the fund now stands at $3.1 billion of AUM and has produced an annualized return of 23.08% since inception.

    The firm has since expanded its investment offerings to include venture capital and growth equity through the StepStone Private Venture and Growth Fund, or SPRING; infrastructure through the StepStone Private Infrastructure Fund or STRUCTURE, ticker: STRUX; and private credit through the StepStone Private Credit Income Fund or CRDEX, ticker: CRDEX. SPW offers offshore options for each of its funds for investors outside the US.

    “We are grateful for the support of our distribution partners across the registered investment advisor, independent broker dealer, wire house, and international channels,” said Neil Menard, Partner & President of Distribution at StepStone Private Wealth. “Through their collaboration, we have been able to reach tens of thousands of new investors who have been seeking private markets solutions like ours. We look forward to working in partnership with more firms and their advisors across the globe to advance their ability to provide clients with institutional-caliber allocations to private markets portfolios.”

    About StepStone

    StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of June 30, 2024, StepStone was responsible for approximately $701 billion of total capital, including $170 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

    Contacts

    Shareholder Relations:
    Seth Weiss
    shareholders@stepstonegroup.com
    +1 (212) 351-6106

    Media:
    Brian Ruby / Chris Gillick / Matt Lettiero, ICR
    StepStonePR@icrinc.com
    +1 (203) 682-8268

    IMPORTANT INFORMATION

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the SPRIM, SPRING, STRUCTURE, and CREDX prospectus, a copy of which may be obtained from StepStone Private Wealth at 704.215.4300 or by visiting stepstonepw.com. An investor should read the prospectus carefully before investing.

    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance shown is net of fees. For the most recent month end performance please call 704.215.4300 or visit stepstonepw.com.

    An investment in the Funds involve risks. The Funds should be considered speculative investments that entail substantial risks, and a prospective investor should invest in the Funds only if it can sustain a complete loss of its investment. Fund shares are illiquid and appropriate only as a long-term investment. There is no secondary market for the Funds’ Shares and the Funds expect that no secondary market will develop in the foreseeable future. Investments may consist of loans to small and/or less well-established privately held companies that have reduced access to the capital markets, resulting in diminished capital resources and the ability to withstand financial distress. While the Fund provides transparent disclosure of structure, strategy, holdings, and financial condition, the valuation of the Fund’s investments in Private Markets Investment Funds is ordinarily determined based upon valuations provided by the Investment Managers on a quarterly basis. A large percentage of these securities do not have a readily ascertainable market price and are fair valued by the Investment Manager subject to future adjustment or revision. Please see the prospectuses for details of these and other risks.

    The Funds are distributed by UMB Distribution Services, LLC which is not affiliated with StepStone Group.

    The MIL Network –

  • MIL-OSI: Xage Security Awarded $1.5 Million Contract by United States Navy to Advance Zero Trust Initiatives

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., Oct. 09, 2024 (GLOBE NEWSWIRE) — Xage Security Government (Xage), a global leader in Zero Trust access and protection, today announced a $1.5 million Sequential Phase II Small Business Innovation Research (SBIR) contract with the United States Navy to prove out Xage’s Zero Trust Access and Protection and Federated Identity Management capabilities in support of multiple strategic initiatives.

    This initiative supports compliance with the U.S. Department of Defense Chief Information Officer (DOD CIO) Zero Trust Target Strategy to enhance the protection of data, systems, and services with a Zero Trust model/architecture by 2027. Additionally, Xage will be used in pursuit of the strategic goal shared by the U.S. Navy’s Program Executive Office Command, Control, Communications, Computers and Intelligence (PEO C4I), Tactical Shore & Expeditionary Integration program office (PMW 790) and Program Executive Office Digital and Enterprise Services (PEO Digital) to create an extraordinary future involving battle networks to support the warfighter. This will support the Naval Information Warfare Systems Command (NAVWAR) DevSecOps (DSO) Overmatch Software Armory (OSA) to deliver the Navy’s contribution to Combined Joint All Domain Command & Control (CJADC-2) and tactical edge cloud Battlenet Landing IT Zone Engineering Development Model (BLITZ EDM) Infrastructure as a Service (IaaS) tactical edge capability.

    Xage Meets Robust Navy Security Requirements
    The Xage Fabric Platform is a resilient, highly available cybersecurity mesh, that underpins three core capabilities––Zero Trust identity and access management (IAM), Privileged Access Management (PAM), and Zero Trust remote access (ZTRA)––to enable secure, least privilege access both for internal users and external coalition partners. Xage also provides Zero Trust data exchange capability to ensure the integrity and authenticity of data as it is shared internally and with coalition partners.

    Fulfilling the DOD’s Zero Trust Mandate
    The selection of Xage as a key technology solution provider is based on its robust Zero Trust capabilities in critical areas such as microsegmentation, data integrity and management, least privilege, and multi-factor authentication (MFA). These features are essential across all domains—whether IT, operational technology (OT), or cloud environments—ensuring comprehensive Zero Trust security at every layer.

    Unique Architecture to Support the Warfighter
    In addition to fulfilling DOD Zero Trust requirements, Xage was selected for its ability to fulfill unique requirements for Navy environments.

    The Xage Fabric Platform, deployed as a secure overlay with a distributed architecture and equips the Navy with the following three key capabilities, among others:

    • DDIL: Xage enables the Navy to provide Zero Trust Access and protection to any asset without requiring internet connection, while maintaining the operation of its identity and access functions even in denied, disrupted, intermittent, and limited impact (DDIL) environments. Access and privilege enforcement can still be enforced, even if a remote site or edge device loses connectivity to the central network.
    • Agentless: The Xage Fabric allows the Navy to deploy Zero Trust access and protection without requiring the installation of agents on any endpoints nor the replacement of any existing infrastructure, eliminating a significant management burden and attack vector. The approach enables the Navy to extend the lifespan of legacy mission-critical assets.
    • Data Exchange: The Xage Zero Trust data exchange enables the Navy to securely exchange data with joint coalition and allied partners by providing just enough access, just in time. When access is no longer needed, administrators can easily wipe the identity and access of these external users within seconds. All user activity is tracked, logged, and recorded by Xage and all activity is untraceable by an adversary.

    “Xage was built to cyber-harden the most challenging and mission critical environments and we proudly partner with entities like the USSF Space Systems Command to do so, which will now include an extension of our ‘Never Trust, Always Verify’ support to the Navy,” said Xage Security CEO, Geoffrey Mattson. “Legacy devices, DDIL environments, as well as allied and coalition data exchange are just some of the critical use cases that the Navy is responsible for keeping secure and has an unwavering commitment to defend. Xage is proud to be in service of this mission and national security.”

    About the Contract

    PMW 790 delivers resilient, adaptable, interoperable, and affordable shore and expeditionary C4I capability for the Navy, enabling all domain mission success. PEO Digital is the service office that helps the Navy and Marine Corps with accelerating innovation and security.

    The contract awarded to Xage is spearheaded by PMW 790 and PEO Digital, in collaboration with USSF Space Systems Command (SSC). Together, PMW 790 and PEO Digital are responsible for testing Xage’s Zero Trust capabilities against simulated sophisticated attacks. The PMW 790 Program Manager is requesting this special study to evaluate the approach to Zero Trust across multiple efforts within the Navy. The special study will establish the overarching applicability of Zero Trust concepts across multiple networks to support modern and legacy operational systems.

    It will also test Xage’s ability to establish an enterprise data analytics architecture to provide a subset of data collection goals as stated in the DOD Data Strategy across the Navy enterprise. Included in these concepts is the reduction of the potential attack surface associated with network complexity and controls used today to connect the operational unit networks to larger more accessible enterprise networks and systems. The objective is to demonstrate and test secure data access and exchange across complex network types between systems while ensuring data integrity and authenticity services to various applications where data is being consumed. Zero Trust for the Navy requires a cohesive strategy to reach effective adoption of Zero Trust principles across a diversity of missions within the Navy’s domain.

    PMW 790 is requesting BLITZ onboard Xage Security Government as a Zero Trust Identity software candidate. Xage’s software will also be added to the OSA, which is the Navy’s Tactical DSO ecosystem that supports accelerated application development.

    PMW 790 is looking to leverage the USAF Cloud One DSO accreditation of Xage that supports the DOD CIO Zero Trust and reciprocity directives supported by complementary Department of the Navy CIO and Assistant Secretary of the Navy for Research, Development and Acquisition (ASN RDA) directives for cloud, Zero Trust and starting with dollar one focusing on Identity.

    Other focus areas of Zero Trust principles are data integrity and management in support of Chief Digital and Artificial Office (CDAO) initiatives as well as leveraging microsegmentation edge cloud technology for Zero Trust governance.

    About Xage Security Gov
    Xage Security Gov, LLC is a wholly-owned affiliate of Xage Security, Inc., a global leader in Zero Trust access and protection on a mission to pioneer a secure tomorrow. Xage’s solutions and services accelerate and simplify the way organizations secure, manage, and transform digital operations across Operational Technology, IT, and the cloud. Xage products include zero trust access, privileged access management, zero trust data exchange, all powered by the Xage Fabric Platform. Learn why organizations like the U.S. Space Force, PETRONAS, and Kinder Morgan choose Xage at xage.com.

    Xage PR Contact
    press@xage.com

    The MIL Network –

  • MIL-OSI: No. 12/2024 – CeMat A/S acquires right of perpetual usufruct to land plot in Bielany, Warsaw

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen                                                                                   
    Nikolaj Plads 6
    DK-1067 Copenhagen K   

    Copenhagen, 9 October 2024
    ANNOUNCEMENT no. 12/2024

    CeMat A/S acquires right of perpetual usufruct to land plot in Bielany, Warsaw

    CeMat A/S is pleased to announce that it has obtained a binding decision confirming its acquisition by law of the right of perpetual usufruct (RPU) to 75% of the shares in an undeveloped plot of land on Wólczyńska Street, in the Bielany district of Warsaw. The decision relates to a land plot covering a total area of 6,720 sqm, and grants the company the right of perpetual usufruct until 2089. This binding decision provides the legal basis for registering the RPU in the land and mortgage register.

    The acquired plot is currently being used by the company for internal roads, which are a key component of the street layout within the property complex, contributing both to the company’s current rental operations and future investment plans for CeMat in Warsaw’s Bielany district. The road provides access to a public road for all plots earmarked for future development within the Bielany complex. The Bielany complex covers a total area of 159,300 sqm.

    The final value of the acquired property will be determined following an independent valuation process.

    Obtaining legal title to the plot marks a significant milestone in fulfilling CeMat’s goals for 2024, as well as its long-term strategy. As part of the Group’s strategy, this acquisition represents the first step in the value creation chain, which includes securing legal title, receiving re-zoning decisions, obtaining building permits, and commencing the pre-sale and construction phases.

    The newly issued decision is an important factor that will facilitate the development process.  In addition to the zoning decision, the road connection is one of the elements required to obtain a building permit in the future. This additional road will improve the site’s utility connections and increase the overall attractiveness and value of the Bielany complex.

    Cemat A/S

    Frede Clausen
    Chairman

    This announcement has been prepared in a Danish-language and an English-language

    version. In case of doubt, the Danish version prevails.

    Attachment

    The MIL Network –

  • MIL-OSI Video: Vuk Talks Season 2 Episode 22 Joseph Maraba Electricity Regulation Amendment Act

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

    President Cyril Ramaphosa has signed into law the Electricity Regulation Amendment Act which sets out far-reaching reforms of South Africa’s electricity sector, including the establishment of a competitive electricity market.

    The Bill assented to by the President amends the Electricity Regulation Act of 2006 to respond to current realities in the electricity sector and open up pathways to greater competition and reduced energy costs; increase investment in new generation capacity to achieve energy security; establish an independent transmission company as the custodian of the national grid; and impose severe penalties for damage to and sabotage of infrastructure.

    Joseph Maraba breaks down this act and its implications.

    https://www.youtube.com/watch?v=l0kW_nMYDZ0

    MIL OSI Video –

  • MIL-OSI Video: Learn the history of the 25th Infantry Division | U.S. Army

    Source: US Army (video statements)

    The 25th ID was activated on October 1, 1941 at Schofield Barracks, Hawaii. Its mission: to deter adversaries by building, sustaining and forward-posturing ready forces alongside allies and partners in the Indo-Pacific area of responsibility. On order, 25th Infantry Division fights & wins in large scale combat operations.

    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 #25ID #Schofield #Hawaii

    https://www.youtube.com/watch?v=lR5AKd9SlwY

    MIL OSI Video –

  • MIL-OSI Economics: Secretary-General of ASEAN attends the ASEAN Leaders’ Interface with ASEAN-Business Advisory Council

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn attended the ASEAN Leaders’ Interface with ASEAN-Business Advisory Council (ASEAN-BAC) in Vientiane, Lao PDR, on 9 October 2024. The ASEAN Leaders welcomed the ASEAN-BAC recommendations and encouraged the business community to play an active role in expanding trade and investment across the region, embracing digital transformation and sustainable development, and supporting deeper regional economic integration.

    MIL OSI Economics –

  • MIL-OSI: Quaint Oak Bank Receives SBA Preferred Lender Program Designation

    Source: GlobeNewswire (MIL-OSI)

    SOUTHAMPTON, Pa., Oct. 09, 2024 (GLOBE NEWSWIRE) — Quaint Oak Bank announced it has been granted the Preferred Lender Program (PLP) designation by the U.S. Small Business Administration (SBA). This prestigious designation is a testament to Quaint Oak Bank’s expertise, experience, and commitment to supporting small businesses across the nation.

    The PLP designation enables Quaint Oak Bank to streamline the SBA loan approval process, providing customers with greater speed and certainty in securing financing. As a PLP lender, the established financial institution is authorized to make unilateral approvals on SBA-guaranteed loans.

    “Our long-standing track record of successful SBA lending has culminated in this recognition,” said Steven Willard, SBA Team Leader and Commercial Relationship Manager. “We are committed to offering the best possible service to our customers and believe that this new designation will enhance our ability to do so.”

    With the SBA’s backing, Quaint Oak Bank can offer flexible financing options to businesses that may not qualify for conventional loans, including those lacking collateral or with projected rather than historical cash flow. This program is particularly beneficial for startups, business acquisitions, and companies experiencing rapid growth.

    For more information about Quaint Oak Bank’s SBA lending services and how the PLP designation can benefit your business, visit http://www.quaintoak.com/business-banking/commercial-loans/sba-loans/.

    About Quaint Oak Bank
    Quaint Oak Bank is a Pennsylvania-chartered savings bank and wholly owned subsidiary of Quaint Oak Bancorp [QNTO], a financial services company. Providing exceptional customer service since 1926, Quaint Oak Bank has adapted and grown to match the ever-changing demands of the market. Dedicated to delivering ground-breaking banking technology to its customers, Quaint Oak Bank offers financial solutions that fuel the future of business. Learn more at http://www.quaintoak.com.

    Contact
    Jake R. Doneker
    Vice President, Commercial Relationships
    Quaint Oak Bank
    215.364.4059

    The MIL Network –

  • MIL-OSI: IDEX Biometrics ASA’s extraordinary general meeting held on 9 October 2024

    Source: GlobeNewswire (MIL-OSI)

    IDEX Biometrics ASA held an extraordinary general meeting on 9 October 2024.

    112.2 million shares or 25.47% of the share capital was represented at the meeting.

    All proposals on the agenda were adopted in accordance with the proposals of the Company’s board of directors, including the approval of Tranche 2 of the private placement, the subsequent offering and the warrants issuance, all as announced on 17 September 2024.

    For further information contact:
    Marianne Bøe, Head of Investor Relations
    E-mail: ir@idexbiometrics.com
    Tel: +47 67 83 91 19

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

    For more information, visit http://www.idexbiometrics.com

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: Alation Unveils AI Governance Solution to Power Safe and Reliable AI for Enterprises

    Source: GlobeNewswire (MIL-OSI)

    REDWOOD CITY, Calif., Oct. 09, 2024 (GLOBE NEWSWIRE) — Alation Inc., the data intelligence company, today launched its AI Governance solution to help organizations realize value from their data and AI initiatives. The solution ensures that AI models are developed using secure, compliant, and well-documented data. With capabilities such as lineage for AI auditability, AI documentation, data discovery and custom tagging, and data quality flags, organizations can confidently accelerate AI development, mitigate risks, and optimize their AI investments for business impact.

    As regulatory demands rise and data environments grow more complex, organizations struggle to scale AI applications—including machine learning (ML) and generative AI (GenAI)—beyond proof-of-concept stages. Despite growing adoption, research from McKinsey shows only 11% of organizations have successfully scaled these initiatives, largely due to challenges in data governance, compliance, and security. New and evolving regulations, such as GDPR, the EU AI Act, and frameworks like the OECD AI Principles and NIST AI Risk Management Framework, further complicate governance requirements.

    Alation’s AI Governance solution equips organizations with trusted, compliant data and the visibility to confidently scale AI initiatives while adhering to governance policies. By cataloging training datasets, LLM prompts, AI models, and API endpoints in a unified platform, Alation ensures traceability across the AI ecosystem, enabling compliance and fostering collaboration. This transparency mitigates AI risks by allowing teams to trace errors, correct biases, and maintain accountability throughout the AI lifecycle. With curated features ensuring data quality and best practices like model card documentation, Alation streamlines AI development, accelerates time-to-value, and delivers governed collaborative AI outcomes. By reinforcing trust and explainability, Alation helps enterprises future-proof and centralize their AI efforts, driving measurable impact.

    “Alation is critical to increasing the confidence and the value of our data, providing a single source of truth that drives informed decision-making across the organization,” said Ilya Gilin, Leader of Data and AI/ML Governance at Interac. “As we scale our AI initiatives, Alation delivers the transparency, traceability, and governance needed to build, document, and validate analytical models confidently. With features like data quality flags and lineage for AI auditability, we can ensure our model inventory is accurate and timely while maintaining compliance and operational excellence. By transforming data into a strategic asset, Alation fuels innovation and future-proofs our data governance program.”

    “Alation delivers critical guardrails required to help keep AI initiatives safe, ethical, and compliant,” said Stewart Bond, Vice President of Data Intelligence and Integration Software Research at IDC. “Alation helps enterprises find, understand, and trust their data and now brings this expertise to AI—now a top boardroom priority. Alation’s AI Governance solution equips data and business teams to track and validate data before it feeds into AI models while supporting model development, documentation, and validation. By providing a trusted platform, Alation enables organizations to deploy and scale reliable, auditable AI, ensuring compliance, mitigating risks, and driving measurable, AI-driven business outcomes.”

    “The potential for AI to revolutionize industries—from preventing financial fraud to accelerating drug development—is immense, but realizing that potential and driving true business value depends on trusted, high-quality data,” said Satyen Sangani, CEO and co-founder of Alation. “Alation’s AI Governance solution ensures AI initiatives are built on secure, compliant, and transparent data, enabling faster innovation with confidence. As enterprises continue to invest in AI infrastructure to scale large models, Alation turns those investments into real-world applications that deliver measurable ROI, reduce risk, and scale AI safely and ethically—unlocking significant business value.”

    Alation’s AI Governance solution enables organizations to confidently scale AI initiatives and drive measurable business outcomes by leveraging:

    • Accurate Datasets for Trusted Models: Alation equips data scientists, ML experts, and AI engineers with trusted, compliant, contextual data. By leveraging Alation’s Intelligent Search and custom tags, users can quickly locate and tag relevant and compliant datasets needed to build trusted AI models, ensuring a strong foundation for AI initiatives.
    • Streamlined AI Documentation and Collaboration: Alation provides a single source of truth for documenting and managing AI models using model card templates. By centralizing collaboration within the AI Governance solution, teams can collaborate in the context of specific models, ensuring unified visibility across all stakeholders. This promotes governance, compliance, and the efficient discovery and sharing of AI/ML models across the enterprise, driving operational efficiency and transparency.
    • Auditable AI Lineage and Traceability: Alation delivers end-to-end lineage from datasets to AI models, offering full visibility into the AI lifecycle. By cataloging training datasets, LLM prompts, AI models, and output data in a single source of truth, Alation ensures traceability for internal stakeholders and auditors. This enables organizations to diagnose issues, enforce compliance, and maintain trust in AI systems, embedding safety, ethics, and governance throughout the entire process.
    • Compliance and Risk Mitigation: Alation’s AI and data governance framework flags non-compliant datasets and ensures AI models are built on reliable, governed data. This mitigates operational risks, prevents costly errors, and safeguards data integrity—ensuring organizations meet the highest regulatory standards while driving innovation.
    • AI Readiness Accelerator: Alation’s Expert Services offering accelerates AI adoption by providing expert guidance and best practices for model card development. Customers can also engage system integrators from the Alation ecosystem to implement these practices, ensuring they are prepared to scale AI initiatives and deliver measurable business impact. 

    To learn more, read our blog, AI Governance Best Practices: A Framework for Data Leaders. 

    Register for the webinar, “Building Trust in AI: Best Practices for AI Governance from IDC’s Stewart Bond,“ on October 23, 2024, at 8 AM PT. Gain expert insights from Stewart Bond, IDC’s Vice President of Data Intelligence and Integration Software Research, and David Chao, CMO of Alation, on navigating AI governance challenges, improving AI safety, and harnessing trusted data to drive successful AI initiatives.

    About Alation
    Alation is the data intelligence company. Nearly 600 global enterprises — including 40% of the Fortune 100 — rely on Alation to realize value from their data and AI initiatives. Customers such as Cisco, DocuSign, Nasdaq, Pfizer, and Samsung trust Alation’s platform for self-service analytics, cloud transformation, data governance, and AI-ready data, fostering data-driven innovation at scale. Headquartered in Redwood City, California, Alation has been recognized five times by Inc. Magazine as one of the Best Workplaces. To learn more, visit http://www.alation.com. 

    Media Contact
    Lauren Lloyd
    Director, Corporate Communications
    541-490-6115
    lauren.lloyd@alation.com

    The MIL Network –

  • MIL-OSI Russia: Students of SPbGASU attended a lecture by a representative of the company “ROCKWOOL”

    MILES AXLE Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Students at a lecture

    Leading specialist in training development at ROCKWOOL Natalia Pakhomova gave a lecture to students of SPbGASU on improving the energy efficiency of buildings and fire safety using building materials. The company representative explained that these issues are very relevant, and therefore will be interesting and useful for senior students both for writing final qualifying papers and in general for improving their professional competencies.

    ROCKWOOL is the largest manufacturer of insulation materials and solutions made of stone wool. 25 years ago, the company launched its first production in Russia. Today, ROCKWOOL heat and sound insulation is manufactured in the Moscow region, Vyborg, Chelyabinsk region and Tatarstan. Speaking about the advantages of stone wool products and solutions, designs and their application, Natalia Pakhomova drew the students’ attention to the fact that the raw materials and components of the materials are exclusively Russian, which increases their availability.

    “Our company has developed a series of lectures on various topics: energy efficiency, fire safety, technology of production of building materials, including stone wool. Therefore, we have something to tell to any faculty, course of specialized universities. We have accumulated quite a lot of experience related to the production and use of stone wool, and we want to share our expertise, promote safe, energy-efficient, fire-safe solutions and products. We closely cooperate with SPbGASU and, for our part, are interested in joint training of sought-after specialists,” explained Natalia Pakhomova.

    Associate Professor of the Department of Metal and Wooden Constructions of SPbGASU, PhD in Engineering Stefania Mironova suggested expanding cooperation and, if possible, jointly developing the topic of master’s theses. It turned out that the company “ROCKWOOL” also has experience of such cooperation, and it is ready to increase it. In addition, the company practices organizing internships.

    Fourth-year student of the Department of Construction Technology Anita Agzamova has heard about this company. In the construction of the building, which she plans to take as an object for her final qualifying work, the insulation for walls “ROCKWOOL” is used.

    “During this lecture, I clearly saw how this is applied in practice. The format of such lectures is very interesting and effective, since we are not familiar with educational and theoretical projects, but with practical solutions. It is useful to learn about them, about what new technologies are being implemented in the industry. The opportunity for an internship is also inspiring, motivating and opens the way to the professional sphere,” Anita said.

    Alla Kadyrova, a specialist at the Center for Student Entrepreneurship and Career at SPbGASU, reminded students that such meetings with industry representatives will continue, but this is not the only option for assistance in employment from our university. Thus, at the Center for Student Entrepreneurship and Career, students are helped to write a resume, consulted on job search issues, and offered vacancies in their specialty from the university’s partners.

    “If you are not considering a job but intend to engage in entrepreneurship, we invite you to take part in hackathons, accelerators, incubators – federal projects, within the framework of which, on the way to implementing your idea, you will be able to assemble a team, develop an economic model, meet partners and even receive funding. We also help implement the “Startup as a Diploma” program. This is an alternative to the traditional final qualifying work or master’s thesis, where students prepare their business project,” explained Alla Kadyrova.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://www.spbgasu.ru/nevs-and-events/nevs/students-spbgasu-attended-a-lecture-by-a-representative-of-the-rockwool-company/

    MIL OSI Russia News –

  • MIL-OSI: The U.S. Department of Energy Selects Craft to Protect Federal Investments from Foreign Influence

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 09, 2024 (GLOBE NEWSWIRE) — Craft, the supply chain resilience company, today announced its risk management platform was selected by the United States Department of Energy (DoE) to provide risk assessments for companies that apply for awards and loans through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The collaboration is part of a larger effort to protect U.S. energy infrastructure, technology, intellectual property, and federal investments from hostile foreign nations and influence.

    Currently, more than 500 employees across 61 federal government organizations use the Craft platform in support of the SBIR program to enhance their due diligence practices. The DoE’s Office of Research, Technology & Economic Security is the latest agency to use Craft to conduct due diligence on SBIR award applicants. This formerly manual process is now completed quickly and accurately, and supports compliance with the U.S. SBIR And STTR Extension Act of 2022. With Craft, the DoE can discover foreign ownership and associations across myriad data points including patents, licensing, board seats, politically exposed people, investor locations, blocklists, ultimate beneficial ownership (UBO), and more.

    “The U.S. invests significantly in the private sector to support the country’s energy infrastructure and technological innovation. However, foreign influence poses a major threat,” said Brian Mackerer, group director, Government and Defense Sector, Craft. “Craft’s platform provides the DoE with a gold standard for due diligence and ensures that all investments will advance U.S. energy interests.”

    Craft’s due diligence data and intelligence can be accessed by any U.S. government agency for faster risk assessments and to avoid duplicative work. Its platform will continue to be essential for the DoE and other government agencies to invest confidently and quickly on SBIR awards for important energy technology across batteries, electric grid infrastructure, and renewable and clean energy.

    “Foreign influence is increasingly more difficult to detect and manual vetting processes can slow the rate of U.S. innovation and technological progress,” said a representative from the Department of Energy’s Office of Research, Technology & Economic Security. “Craft’s platform allows us to vet federal funds candidates easier and faster to ensure they are free of hostile foreign influence.”

    Craft’s work with the DoE is the latest in a series of announcements with the U.S. government. In May 2024, Craft announced a $28 million, five-year agreement with the Secretary of the Air Force to bolster due diligence efforts across the Department of Defense. In March 2024, it announced a partnership with Strider Technologies, Inc. to enrich the data used to identify foreign influence within supply chains for federal government agencies and organizations engaged in government contracts.

    “Our vision is for Craft to be the supply chain risk and resilience partner-of-choice for the U.S. government. This collaboration is another step forward in that direction,” said Mackerer.

    For more information about Craft, visit http://www.craft.co or contact press@craft.co.

    About Craft

    Craft illuminates the path to global supply chain resilience. It empowers businesses to strengthen their supplier networks and supply chains with the industry’s most reliable and comprehensive data fabric and advanced risk mitigation engine. Craft’s user-friendly platform offers 360-degree visibility to explore and evaluate supplier networks, AI-driven insights to detect and mitigate disruptions, and collaborative tools to enhance supply chain strategies. Procurement and supply chain professionals can confidently navigate regulatory environments, adhere to ethical standards, and ensure business continuity. Headquartered in San Francisco, CA, Craft assists commercial and governmental organizations worldwide in creating more resilient supply chains. For more information about Craft, visit http://www.craft.co.

    The MIL Network –

  • MIL-OSI: Nokia and Furukawa Electric LatAm expand partnership in Brazil to reach data center market

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia and Furukawa Electric LatAm expand partnership in Brazil to reach data center market

    • Security and automation designed for the AI era are focus of new phase of partnership, designed for data centers of all sizes in Brazil.
    • Solutions immediately available for Brazilian market bring together Nokia’s modern data center automation platform and Nokia DDoS attack detection and mitigation software.
    • Existing partnership between the companies to commercialize advanced passive optical network (POL) technologies continues throughout Latin America.

    9 October 2024
    São Paulo, Brazil – Nokia and Furukawa Electric LatAm today announced they have expanded their partnership to immediately bring high-performance solutions in data center automation to Brazil. Partners since 2022, the two companies will also continue to offer advanced passive optical network technologies to the Latin American business market.

    Furukawa will now offer Nokia’s Data Center Fabric solution, which includes high-performance data center switching platforms, running Nokia SR Linux, a uniquely open, extensible and resilient Network Operating System and managed by Nokia Event-Driven Automation (EDA), a modern data center network automation platform that combines speed with reliability and simplicity and provides guardrails that detect errors caused by automation.

    Roberto Kihara, General Sales Manager for Furukawa Electric LatAm, said: “We are delighted to be able to extend our partnership with Nokia to offer the most advanced passive optical network technology available. The POL market is very hot in Latin America and we have a lot to achieve together in the region’s data center market. Brazil is a promising market and exemplary in terms of investment volume and demand for automation solutions.”

    Juan Pablo Anadon, Head of Enterprise, Webscale and Partners Sales for Latin America, Network Infrastructure at Nokia, said: “Together with Furukawa Electric LatAm, we are committed to bringing cutting-edge data center technology to the Latin American business market quickly. Our new EDA platform, developed for the AI era, simplifies data center management and can cut down operational efforts up to 40%. Part of our Data Center Fabric solution, EDA is now available in Brazil just two weeks following its global launch, allowing us to work towards our goal with Furukawa to support and advance data center networks in Latin America.”

    Nokia is helping cloud builders worldwide to build modern data center networks that are highly reliable, secure and easy to operate – which is essential to meet the growing demands of AI workloads worldwide.

    Resources and additional information
    Webpage: Nokia – Event-Driven Automation (EDA)
    Webpage: 7220 Interconnect Router for Data Center Fabric
    Webpage: 7750 Service Router
    Webpage: Deepfield Defender
    Press release: Nokia and Furukawa Electric LatAm partner to accelerate Optical LAN in Latin America

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About Furukawa Electric LatAm
    Furukawa Electric Latam is a communications infrastructure solutions manufacturer with headquarters in Curitiba/PR and other plants in Sorocaba/SP and Santa Rita do Sapucaí/MG, as well as optical cable factories in Berazategui, Argentina, and Mexicali, Mexico.

    With a comprehensive portfolio of communication infrastructure solutions, it serves diverse markets such as data centres, industries, offices, operators and services, among others, at all application levels.

    Furukawa Solutions brand is the result of the union of various development, production and support centres distributed around the world, relying on the solidity of the Furukawa Electric group, which has been operating globally for over 135 years, offering world-class solutions with local support and services. With a strong commitment to society, it provides infrastructure for life.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Nokia Americas
    Email: lygia.torelli@nokia.com

    Furukawa Electric Latam
    Email: andreia.rodrigues@agenciafr.com.br

    Follow Nokia on social media
    LinkedIn X Instagram Facebook YouTube

    Follow Furukawa on social media
    Linkedin

    The MIL Network –

  • MIL-OSI: OnStation Welcomes Former DOT Chief Mack Long to Drive Public Sector Adoption

    Source: GlobeNewswire (MIL-OSI)

    CLEVELAND, Oct. 09, 2024 (GLOBE NEWSWIRE) — OnStation, the leading provider of digital stationing solutions for the heavy highway industry, today announced the appointment of Mack Long as its new Strategic Advisor.

    Mack brings over 30 years of experience working for both contractors and Departments of Transportation. Previously, he served as the Director of the Montana Department of Transportation as well as President and General Manager of Wyoming’s JTL Group. Mack is a recognized expert in the industry and has served as the Chairman of the Committee on Construction for American Association of State Highway and Transportation Officials (AASHTO). In his capacity as strategic advisor, Mack will guide OnStation relationships with public sector officials, research, and grant funds.

    Throughout his career, Mack has been passionate about putting the right technology into the hands of road crews, which aligns with the OnStation corporate mission. “OnStation is the best tool out there for both the DOTs and contractors to make sure their projects get built right. It’s the critical tool that connects every road worker with the information they need to be productive and safe,” said Long.

    CEO Patrick Russo noted how the addition of Mack Long deepens OnStation’s value proposition for DOT and contractor teams who often work side by side on the same projects. The app allows team members to instantly find their live digital station and offset reading, drop flags at specific locations, attach images, send chat messages, and share with colleagues across the entire project.

    “OnStation focuses on providing a digital location to every worker on a jobsite to help make their jobs easier and safer. We solve challenges roadway crew experience daily by aligning the needs of DOT project owners and the contractor community, so everyone derives increased value from digital stationing. Mack’s experience on both sides of road construction project teams will help guide us towards fulfilling this vision. It is awesome our company is attracting folks like Mack, and I am excited to learn from him,” said Russo.

    For more information about OnStation and its solutions, please visit http://www.onstationapp.com. 

    About Mack Long

    Mack was born in Billings, Montana, where he grew up and raised his own family. He attended Montana State University (MSU) in Bozeman, Montana, and graduated in 1986 with a Bachelor of Science in Business Management. After college, Mack worked in Bozeman where he met and married his wife, Karen, in 1990. Mack returned to MSU to earn a Construction Engineering degree. Later, he and Karen moved to Texas where Mack worked for Peter Kiewit & Sons construction and engineering firm. While in Texas, Mack and Karen raised their family and welcomed their son, Nathon to their family.

    In 1995, they moved back to Billings and Mack went to work for the family construction company, JTL Group, Inc. Shortly after moving back, their daughter was born. The family moved to Casper, Wyoming in 1998 where Mack became the President and General Manager of JTL Group, Wyoming. In 2002, Mack moved into JTL Group’s main administrative office and worked with his father, Joel, in Billings. JTL Group, Inc. was acquired by MDU Resources Group Inc. in 1999. When Joel retired in 2003, Mack became the President and Regional Manager for Knife River Corp, Inc., an MDU Resources division, until he retired in 2009.

    Mack has been the owner and partner in business ventures over the past 10 years and his experience in the construction field has been wide and varied across airport reconstruction, highways, utilities work, and major industrial plant construction. In 2021 Governor Greg Gianforte appointed Mack to be the Director of the Montana Department of Transportation. Mack proudly served in this role and was asked to be the Chairman of the Committee on Construction for AASHTO. Mack retired in April of 2024 to spend more time with his wife.

    About OnStation

    OnStation is a collaborative digital stationing platform that offers location-based project records from bid to close. Specifically designed for the heavy highway industry, OnStation’s mobile app centralizes communication, boosts productivity, enhances worker safety, and improves project quality. Users benefit from live jobsite stationing, milepost, and LRS capabilities. They can overlay design layers on the project map and communicate via a custom chat platform that organizes and records project events at their locations. OnStation is available on both the Apple App Store and Google Play Store and is supported on all desktop systems.

    Contact

    Jessica Kodrich
    jkodrich@onstationapp.com 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e4dccfb6-c5d1-4af4-851b-79ec1f2b4e36

    The MIL Network –