Category: Business

  • MIL-OSI USA: Sen. Larry Walker III Applauds $4.4 Million in State Support for Dodge County Road Improvements

    Source: US State of Georgia

    ATLANTA (June 20, 2025) — Sen. Larry Walker III (R-Perry) today celebrated the announcement of a combined $4.4 million in grant and loan funding awarded to Dodge County through the Georgia Transportation Infrastructure Bank (GTIB), administered by the State Road and Tollway Authority (SRTA). The investment includes a $2 million grant and a $2.43 million low-interest loan to fund the Dodge County Road Improvement Program, a transformative infrastructure initiative aimed at rebuilding, resurfacing, and expanding key roadways across the county.

    “This is a major win for Dodge County and the hardworking Georgians who rely on safe, well-maintained roads every day,” said Sen. Walker. “These funds will go a long way toward improving transportation safety, supporting economic activity and addressing the wear and tear that comes from increasing freight traffic. I’m proud to join Gov. Kemp and my colleagues in the General Assembly to help make sure rural communities like Dodge County aren’t left behind when it comes to infrastructure investment.”

    The Dodge County Road Improvement Program includes three major projects:

    • Paving of Bill Mullis Road from Roddy Highway to SR 87 (3.7 miles);
    • Full-depth reclamation of Milan Eastman Road from SR 117 to SR 280 (8.2 miles), repairing damage from heavy freight use;
    • Resurfacing Zion Hill Church Road from Antioch Church Road to Coody Road (4.5 miles).

    By combining these road segments into one large-scale project, Dodge County is able to accelerate its timeline by nearly a decade and reduce overall unit costs, ensuring taxpayer dollars go further.

    Gov. Brian P. Kemp and SRTA announced this year’s GTIB awards on Tuesday, highlighting a record $26.5 million in funding across 13 local transportation projects. The 2025 cycle includes the largest combined rural investment in the program’s history at $13.3 million.

    Since its creation in 2010, GTIB has awarded more than $240 million in grants and loans, supporting transportation projects with a combined value of over $1.2 billion.

    For more information on the Georgia Transportation Infrastructure Bank, visit www.srta.ga.gov/gtib.

    # # # #

    Sen. Larry Walker serves as Chairman of the Senate Committee on Insurance and Labor. He represents the 20th Senate District, which includes Bleckley, Dodge, Dooly, Laurens, Treutlen, Pulaski and Wilcox counties, as well as portions of Houston County.  He may be reached by phone at (404) 656-0095 or by email at Larry.Walker@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News

  • MIL-OSI: DRML Miner Unveils New Cloud Mining Platform with Instant Rewards and Eco-Friendly Operations

    Source: GlobeNewswire (MIL-OSI)

    London, UK, June 25, 2025 (GLOBE NEWSWIRE) — As interest in cryptocurrency surges following the recent Bitcoin halving, DRML Miner has launched a next-generation cloud mining platform designed to make crypto earnings accessible, automated, and environmentally responsible. With an instant $10 bonus for new users and daily crypto payouts, the service offers a fresh, simplified entry point into digital mining, without the technical or financial burden of traditional setups.

    Crypto Mining Reimagined for 2025

    DRML Miner’s platform removes the barriers that have long limited access to crypto mining. There’s no hardware to purchase, no complex configurations, and no ongoing maintenance. Users simply register, select a plan, and begin receiving automated daily earnings from their cloud-based mining operations.

    “Our mission is to democratize mining,” said a DRML spokesperson. “With our platform, anyone—from beginners to crypto veterans—can earn without lifting a finger.”

    Powered by Renewable Energy, Built for Scale

    One of DRML Miner’s standout features is its eco-friendly global infrastructure. Through partnerships with renewable energy farms on nearly every continent, the platform delivers high-efficiency mining with a minimal carbon footprint. This model reduces operational costs and supports sustainable long-term returns for users.

    With a presence in over 180 countries and a rapidly growing user base exceeding 8 million accounts, DRML Miner is proving that green energy and high-yield mining can coexist on a global scale.

    $10 Bonus Makes It Easy to Start

    To mark its official launch, DRML Miner is offering a $10 credit to all new users, credited instantly upon signup. This bonus can be applied directly to any mining plan, allowing users to begin earning right away without any upfront payment.

    Plans start as low as $0.60 per day, giving users the flexibility to start small and scale up over time. Daily rewards are automatically deposited, and users can choose to reinvest profits or withdraw funds anytime.

    Built-In Referral Program Adds Passive Income Stream

    DRML Miner includes a robust referral program with no earning limits. Users earn commissions when friends join using their unique link and stay active. Top-performing affiliates have earned as much as $30,000, making referrals a powerful addition to mining income.

    Mining More Than Just Bitcoin

    While Bitcoin remains the platform’s foundation, DRML Miner also supports mining for other leading cryptocurrencies, including Ethereum (ETH), Dogecoin (DOGE), XRP, Solana (SOL), and USDT. Rewards are paid daily in BTC or stablecoins like USDC, depending on user preferences.

    Security, Transparency, and 24/7 Support

    User trust is backed by enterprise-grade security through McAfee® and Cloudflare®, ensuring full encryption and server uptime. The platform also offers real-time dashboards, transparent earnings histories, and multilingual customer support available 24/7.

    A Timely Opportunity in a Changing Market

    With the most recent Bitcoin halving reducing new supply, miners are positioned to benefit from increased demand and scarcity. DRML Miner offers a fast, accessible way to tap into that opportunity, without the overhead of running physical hardware.

    About DRML Miner

    DRML Miner is a global cloud mining platform committed to making cryptocurrency mining accessible, secure, and environmentally sustainable. With a presence in over 180 countries and a user base exceeding 8 million, the company combines cutting-edge automation with renewable energy partnerships to deliver daily crypto earnings, without the complexity of traditional mining.

    Mine is smart. Earn daily. Grow your crypto future.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    Attachment

    The MIL Network

  • MIL-OSI: DRML Miner Unveils New Cloud Mining Platform with Instant Rewards and Eco-Friendly Operations

    Source: GlobeNewswire (MIL-OSI)

    London, UK, June 25, 2025 (GLOBE NEWSWIRE) — As interest in cryptocurrency surges following the recent Bitcoin halving, DRML Miner has launched a next-generation cloud mining platform designed to make crypto earnings accessible, automated, and environmentally responsible. With an instant $10 bonus for new users and daily crypto payouts, the service offers a fresh, simplified entry point into digital mining, without the technical or financial burden of traditional setups.

    Crypto Mining Reimagined for 2025

    DRML Miner’s platform removes the barriers that have long limited access to crypto mining. There’s no hardware to purchase, no complex configurations, and no ongoing maintenance. Users simply register, select a plan, and begin receiving automated daily earnings from their cloud-based mining operations.

    “Our mission is to democratize mining,” said a DRML spokesperson. “With our platform, anyone—from beginners to crypto veterans—can earn without lifting a finger.”

    Powered by Renewable Energy, Built for Scale

    One of DRML Miner’s standout features is its eco-friendly global infrastructure. Through partnerships with renewable energy farms on nearly every continent, the platform delivers high-efficiency mining with a minimal carbon footprint. This model reduces operational costs and supports sustainable long-term returns for users.

    With a presence in over 180 countries and a rapidly growing user base exceeding 8 million accounts, DRML Miner is proving that green energy and high-yield mining can coexist on a global scale.

    $10 Bonus Makes It Easy to Start

    To mark its official launch, DRML Miner is offering a $10 credit to all new users, credited instantly upon signup. This bonus can be applied directly to any mining plan, allowing users to begin earning right away without any upfront payment.

    Plans start as low as $0.60 per day, giving users the flexibility to start small and scale up over time. Daily rewards are automatically deposited, and users can choose to reinvest profits or withdraw funds anytime.

    Built-In Referral Program Adds Passive Income Stream

    DRML Miner includes a robust referral program with no earning limits. Users earn commissions when friends join using their unique link and stay active. Top-performing affiliates have earned as much as $30,000, making referrals a powerful addition to mining income.

    Mining More Than Just Bitcoin

    While Bitcoin remains the platform’s foundation, DRML Miner also supports mining for other leading cryptocurrencies, including Ethereum (ETH), Dogecoin (DOGE), XRP, Solana (SOL), and USDT. Rewards are paid daily in BTC or stablecoins like USDC, depending on user preferences.

    Security, Transparency, and 24/7 Support

    User trust is backed by enterprise-grade security through McAfee® and Cloudflare®, ensuring full encryption and server uptime. The platform also offers real-time dashboards, transparent earnings histories, and multilingual customer support available 24/7.

    A Timely Opportunity in a Changing Market

    With the most recent Bitcoin halving reducing new supply, miners are positioned to benefit from increased demand and scarcity. DRML Miner offers a fast, accessible way to tap into that opportunity, without the overhead of running physical hardware.

    About DRML Miner

    DRML Miner is a global cloud mining platform committed to making cryptocurrency mining accessible, secure, and environmentally sustainable. With a presence in over 180 countries and a user base exceeding 8 million, the company combines cutting-edge automation with renewable energy partnerships to deliver daily crypto earnings, without the complexity of traditional mining.

    Mine is smart. Earn daily. Grow your crypto future.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    Attachment

    The MIL Network

  • MIL-OSI Analysis: A preservative removed from childhood vaccines 20 years ago is still causing controversy today − a drug safety expert explains

    Source: The Conversation – USA – By Terri Levien, Professor of Pharmacy, Washington State University

    A discredited study published in 1989 first alleged a link between thimerosal and autism. Flavio Coelho/Moment via Getty Images

    An expert committee that advises the Centers for Disease Control and Prevention on vaccines is meeting for the first time since Health Secretary Robert F. Kennedy Jr. abruptly replaced the committee’s 17 members with eight hand-picked ones on June 11, 2025.

    The committee, called the Advisory Committee on Immunization Practices, generally discusses and votes on recommendations for specific vaccines. For this meeting, taking place June 25-26, 2025, vaccines for COVID-19, human papillomavirus, influenza and other infectious diseases were on the schedule. According to an updated agenda, however, the committee is now also scheduled to hear a presentation on a chemical called thimerosal and to vote on proposed recommendations regarding its use in influenza vaccines.

    Public health experts have raised concerns about the presentation, noting that anti-vaccine advocates continue to promote confusion regarding the purported health risks of thimerosal despite extensive research demonstrating its safety.

    I’m a pharmacist and expert on drug information with 35 years of experience critically evaluating the safety and effectiveness of medications in clinical trials. No evidence supports the idea that thimerosal, used as a preservative in vaccines, is unsafe or carries any health risks.

    What is thimerosal?

    Thimerosal, also known as thiomersal, is a preservative that has been used in some drug products since the 1930s because it prevents contamination by killing microbes and preventing their growth.

    In the human body, thimerosal is metabolized, or changed, to ethylmercury, an organic derivative of mercury. Studies in infants have shown that ethylmercury is quickly eliminated from the blood.

    Even though thimerosal is no longer used in childhood vaccines, many parents still worry about whether it can harm their kids.

    Ethylmercury is sometimes confused with methylmercury. Methylmercury is known to be toxic and is associated with many negative effects on brain development even at low exposure. Environmental researchers identified the neurotoxic effects of mercury in children in the 1970s, primarily resulting from exposure to methylmercury in fish. In the 1990s, the Environmental Protection Agency and the Food and Drug Administration established limits for maximum recommended exposure to methylmercury, especially for children, pregnant women and women of childbearing age.

    Why is thimerosal controversial?

    Fears about the safety of thimerosal in vaccines spread for two reasons.

    First, in 1998, a now discredited report was published in a major medical journal called The Lancet. In it, a British doctor named Andrew Wakefield described eight children who developed autism after receiving the MMR vaccine, which protects against measles, mumps and rubella. However, the patients were not compared with a control group that was vaccinated, so it was impossible to draw conclusions about the vaccine’s effects. Also, the data report was later found to be falsified. And the MMR vaccine that children received in that report never contained thimerosal.

    Second, the federal guidelines on exposure limits for the toxic substance methylmercury came out about the same time as the Wakefield study’s publication. During that period, autism was becoming more widely recognized as a developmental condition, and its rates of diagnosis were rising. People who believed Wakefield’s results conflated methylmercury and ethylmercury and promoted the unfounded idea that ethylmercury in vaccines from thimerosal were driving the rising rates of autism.

    The Wakefield study was retracted in 2010, and Wakefield was found guilty of dishonesty and flouting ethics protocols by the U.K. General Medical Council, as well as stripped of his medical license. Subsequent studies have not shown a relationship between the MMR vaccine and autism, but despite the absence of evidence, the idea took hold and has proven difficult to dislodge.

    The Wakefield study severely damaged many parents’ faith in the MMR vaccine, even though its results were eventually shown to be fraudulent.
    Peter Dazeley/The Image Bank, Getty Images

    Have scientists tested whether thimerosal is safe?

    No unbiased research to date has identified toxicity caused by ethylmercury in vaccines or a link between the substance and autism or other developmental concerns – and not from lack of looking.

    A 1999 review conducted by the Food and Drug Administration in response to federal guidelines on limiting mercury exposure found no evidence of harm from thimerosal as a vaccine preservative other than rare allergic reactions. Even so, as a precautionary measure in response to concerns about exposure to mercury in infants, the American Academy of Pediatrics and the U.S. Public Health Service issued a joint statement in 1999 recommending removal of thimerosal from vaccines.

    At that time, just one childhood vaccine was available only in a version that contained thimerosal as an ingredient. This was a vaccine called DTP, for diphtheria, tetanus and pertussis. Other childhood vaccines were either available only in formulations without thimerosal or could be obtained in versions that did not contain it.

    By 2001, U.S. manufacturers had removed thimerosal from almost all vaccines – and from all vaccines in the childhood vaccination schedule.

    In 2004, the U.S. Institute of Medicine Immunization Safety Review Committee reviewed over 200 scientific studies and concluded there is no causal relationship between thimerosal-containing vaccines and autism. Additional well-conducted studies reviewed independently by the CDC and by the FDA did not find a link between thimerosal-containing vaccines and autism or neuropsychological delays.

    How is thimerosal used today?

    In the U.S., most vaccines are now available in single-dose vials or syringes. Thimerosal is found only in multidose vials that are used to supply vaccines for large-scale immunization efforts – specifically, in a small number of influenza vaccines. It is not added to modern childhood vaccines, and people who get a flu vaccine can avoid it by requesting a vaccine supplied in a single-dose vial or syringe.

    Thimerosal is still used in vaccines in some other countries to ensure continued availability of necessary vaccines. The World Health Organization continues to affirm that there is no evidence of toxicity in infants, children or adults exposed to thimerosal-containing vaccines.

    Terri Levien 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. A preservative removed from childhood vaccines 20 years ago is still causing controversy today − a drug safety expert explains – https://theconversation.com/a-preservative-removed-from-childhood-vaccines-20-years-ago-is-still-causing-controversy-today-a-drug-safety-expert-explains-259442

    MIL OSI Analysis

  • MIL-OSI Analysis: A preservative removed from childhood vaccines 20 years ago is still causing controversy today − a drug safety expert explains

    Source: The Conversation – USA – By Terri Levien, Professor of Pharmacy, Washington State University

    A discredited study published in 1989 first alleged a link between thimerosal and autism. Flavio Coelho/Moment via Getty Images

    An expert committee that advises the Centers for Disease Control and Prevention on vaccines is meeting for the first time since Health Secretary Robert F. Kennedy Jr. abruptly replaced the committee’s 17 members with eight hand-picked ones on June 11, 2025.

    The committee, called the Advisory Committee on Immunization Practices, generally discusses and votes on recommendations for specific vaccines. For this meeting, taking place June 25-26, 2025, vaccines for COVID-19, human papillomavirus, influenza and other infectious diseases were on the schedule. According to an updated agenda, however, the committee is now also scheduled to hear a presentation on a chemical called thimerosal and to vote on proposed recommendations regarding its use in influenza vaccines.

    Public health experts have raised concerns about the presentation, noting that anti-vaccine advocates continue to promote confusion regarding the purported health risks of thimerosal despite extensive research demonstrating its safety.

    I’m a pharmacist and expert on drug information with 35 years of experience critically evaluating the safety and effectiveness of medications in clinical trials. No evidence supports the idea that thimerosal, used as a preservative in vaccines, is unsafe or carries any health risks.

    What is thimerosal?

    Thimerosal, also known as thiomersal, is a preservative that has been used in some drug products since the 1930s because it prevents contamination by killing microbes and preventing their growth.

    In the human body, thimerosal is metabolized, or changed, to ethylmercury, an organic derivative of mercury. Studies in infants have shown that ethylmercury is quickly eliminated from the blood.

    Even though thimerosal is no longer used in childhood vaccines, many parents still worry about whether it can harm their kids.

    Ethylmercury is sometimes confused with methylmercury. Methylmercury is known to be toxic and is associated with many negative effects on brain development even at low exposure. Environmental researchers identified the neurotoxic effects of mercury in children in the 1970s, primarily resulting from exposure to methylmercury in fish. In the 1990s, the Environmental Protection Agency and the Food and Drug Administration established limits for maximum recommended exposure to methylmercury, especially for children, pregnant women and women of childbearing age.

    Why is thimerosal controversial?

    Fears about the safety of thimerosal in vaccines spread for two reasons.

    First, in 1998, a now discredited report was published in a major medical journal called The Lancet. In it, a British doctor named Andrew Wakefield described eight children who developed autism after receiving the MMR vaccine, which protects against measles, mumps and rubella. However, the patients were not compared with a control group that was vaccinated, so it was impossible to draw conclusions about the vaccine’s effects. Also, the data report was later found to be falsified. And the MMR vaccine that children received in that report never contained thimerosal.

    Second, the federal guidelines on exposure limits for the toxic substance methylmercury came out about the same time as the Wakefield study’s publication. During that period, autism was becoming more widely recognized as a developmental condition, and its rates of diagnosis were rising. People who believed Wakefield’s results conflated methylmercury and ethylmercury and promoted the unfounded idea that ethylmercury in vaccines from thimerosal were driving the rising rates of autism.

    The Wakefield study was retracted in 2010, and Wakefield was found guilty of dishonesty and flouting ethics protocols by the U.K. General Medical Council, as well as stripped of his medical license. Subsequent studies have not shown a relationship between the MMR vaccine and autism, but despite the absence of evidence, the idea took hold and has proven difficult to dislodge.

    The Wakefield study severely damaged many parents’ faith in the MMR vaccine, even though its results were eventually shown to be fraudulent.
    Peter Dazeley/The Image Bank, Getty Images

    Have scientists tested whether thimerosal is safe?

    No unbiased research to date has identified toxicity caused by ethylmercury in vaccines or a link between the substance and autism or other developmental concerns – and not from lack of looking.

    A 1999 review conducted by the Food and Drug Administration in response to federal guidelines on limiting mercury exposure found no evidence of harm from thimerosal as a vaccine preservative other than rare allergic reactions. Even so, as a precautionary measure in response to concerns about exposure to mercury in infants, the American Academy of Pediatrics and the U.S. Public Health Service issued a joint statement in 1999 recommending removal of thimerosal from vaccines.

    At that time, just one childhood vaccine was available only in a version that contained thimerosal as an ingredient. This was a vaccine called DTP, for diphtheria, tetanus and pertussis. Other childhood vaccines were either available only in formulations without thimerosal or could be obtained in versions that did not contain it.

    By 2001, U.S. manufacturers had removed thimerosal from almost all vaccines – and from all vaccines in the childhood vaccination schedule.

    In 2004, the U.S. Institute of Medicine Immunization Safety Review Committee reviewed over 200 scientific studies and concluded there is no causal relationship between thimerosal-containing vaccines and autism. Additional well-conducted studies reviewed independently by the CDC and by the FDA did not find a link between thimerosal-containing vaccines and autism or neuropsychological delays.

    How is thimerosal used today?

    In the U.S., most vaccines are now available in single-dose vials or syringes. Thimerosal is found only in multidose vials that are used to supply vaccines for large-scale immunization efforts – specifically, in a small number of influenza vaccines. It is not added to modern childhood vaccines, and people who get a flu vaccine can avoid it by requesting a vaccine supplied in a single-dose vial or syringe.

    Thimerosal is still used in vaccines in some other countries to ensure continued availability of necessary vaccines. The World Health Organization continues to affirm that there is no evidence of toxicity in infants, children or adults exposed to thimerosal-containing vaccines.

    Terri Levien 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. A preservative removed from childhood vaccines 20 years ago is still causing controversy today − a drug safety expert explains – https://theconversation.com/a-preservative-removed-from-childhood-vaccines-20-years-ago-is-still-causing-controversy-today-a-drug-safety-expert-explains-259442

    MIL OSI Analysis

  • MIL-OSI: Compass Diversified Provides an Update on its Financial Statements Amid the Ongoing Investigation into Lugano Holding, Inc.

    Source: GlobeNewswire (MIL-OSI)

    WESTPORT, Conn., June 25, 2025 (GLOBE NEWSWIRE) — Compass Diversified (NYSE: CODI) (“CODI”) today disclosed non-reliance on its financial statements for fiscal years 2022 and 2023 amid an ongoing investigation into its subsidiary Lugano Holding, Inc. (“Lugano”). This follows CODI’s May 7 disclosure concerning non-reliance on its 2024 financial statements. As previously disclosed, the investigation has preliminarily identified irregularities in Lugano’s financing, accounting, and inventory practices.

    CODI is focused on completing the investigation, which is progressing in line with expectations, and actively working to finalize the necessary financial restatements. Importantly, the investigation is focused on Lugano and does not involve any of CODI’s other subsidiaries.

    “We remain confident in the performance and integrity of CODI’s eight other subsidiary companies, all of which continue to operate normally, have strong balance sheets, and collectively generate substantial cash flow,” said Elias Sabo, CEO of CODI. “We have ample liquidity and significant access to capital via our revolving credit facility. We continue to work constructively with our banking partners and bondholders to ensure flexibility and stability as we move forward. Our primary focus remains on maximizing long-term value for all stakeholders.”

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation, CODI’s expectations as to the timing and outcome of the Lugano investigation, CODI’s credit availability and future liquidity, actions taken in response to the outcome of the investigation, the future performance of Lugano and CODI’s other subsidiaries, the filing or delay of CODI’s periodic reports, and the amount of any potential misstatements associated with Lugano and the impact any such misstatements may have on CODI’s previously issued financial statements or results of operations. Such forward looking statements may be identified by, among other things, the use of forward-looking terminology such as “believe,” “expect,” “may,” “could,” “would,” “plan,” “intend,” “estimate,” “predict,” “potential,” “continue,” “should” or “anticipate” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. These statements are based on beliefs and assumptions by the Board of Directors and management, and on information currently available to CODI’s Board of Directors and management. These statements involve risk and uncertainties that could cause CODI’s actual results and outcomes to differ, perhaps materially, including but not limited to: the discovery of additional information relevant to the investigation; the conclusions (and timing of those conclusions) concerning matters relating to the investigation; the timing of the review by, and the conclusions of, Grant Thornton regarding the investigation and CODI’s financial statements; a further material delay in CODI’s financial reporting or ability to hold an annual meeting of stockholders; the impacts of restatement reviews; the likelihood that the control deficiencies identified or that may be identified in the future will result in material weaknesses in CODI’s internal control over financial reporting; and commercial litigation relating to the investigation, including CODI’s representations regarding its financial statements, and the possibility of future litigation or investigation relating to CODI’s internal controls, restatement reviews, the investigation, or related matters. Please see CODI’s Annual Report on Form 10-K for the year ended December 31, 2024 for other risk factors that you should consider in connection with such forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date such statements have been made. Except as required by law CODI does not undertake any public obligation to update any forward-looking statements to reflect events, circumstances, or new information after the date of this press release, or to reflect the occurrence of unanticipated events.

    Investor Relations
    Compass Diversified
    irinquiry@compassdiversified.com 

    The MIL Network

  • MIL-OSI: Employers Holdings, Inc. Schedules Second Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., June 25, 2025 (GLOBE NEWSWIRE) — Employers Holdings, Inc. (the “Company”) (NYSE:EIG) today announced that it will release its second quarter 2025 financial results after market close on Wednesday, July 30, 2025, after which these materials will be available on the Company’s website at www.employers.com through the “Investors” link.

    Conference Call Details
    The Company will then review these financial results via a conference call and webcast on Thursday, July 31, 2025, at 11:00 a.m. EDT / 8:00 a.m. PDT.

    To participate in the live conference call, you must first register here. Once registered you will receive dial-in numbers and a unique PIN number. The webcast will be accessible on the Company’s website at www.employers.com through the “Investors” link.

    An archived version of the webcast will be accessible on the Company’s website following the live call.

    About EMPLOYERS

    Employers Holdings, Inc. (NYSE: EIG), is a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services (collectively “EMPLOYERS®”) focused on small and mid-sized businesses engaged in low-to-medium hazard industries. EMPLOYERS leverages over a century of experience to deliver comprehensive coverage solutions that meet the unique needs of its customers. Drawing from its long history and extensive knowledge, EMPLOYERS empowers businesses by protecting their most valuable asset – their employees – through exceptional claims management, loss control, and risk management services, to create safer work environments.

    EMPLOYERS is also proud to offer Cerity®, which is focused on providing digital-first, direct-to-consumer workers’ compensation insurance solutions with fast, and affordable coverage options through a user-friendly online platform.

    EMPLOYERS operates throughout the United States, apart from four states that are served exclusively by their state funds. Insurance is offered through Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, Employers Assurance Company, and Cerity Insurance Company, all rated A (Excellent) by AM Best. Not all companies do business in all jurisdictions. EIG Services, Inc., and Cerity Services, Inc., are subsidiaries of Employers Holdings, Inc. EMPLOYERS® is a registered trademark of EIG Services, Inc., and Cerity® is a registered trademark of Cerity Services, Inc. For more information, please visit www.employers.com and www.cerity.com.

    Contact Information
    Michael Pedraja (775) 327-2706 or mpedraja@employers.com

    The MIL Network

  • MIL-OSI: Slide Insurance Holdings, Inc. Announces Closing of the Full Exercise of Greenshoe Option Granted in the Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., June 25, 2025 (GLOBE NEWSWIRE) — Slide Insurance Holdings, Inc. (“Slide”) (Nasdaq: SLDE) today announced that, in connection with its previously completed initial public offering of its common stock, the underwriters have fully exercised their option to purchase an additional 3,600,000 shares of common stock from certain selling stockholders of Slide. The purchase of the additional shares closed on June 25, 2025, bringing the gross proceeds from the initial public offering to Slide and the selling stockholders to approximately $469.2 million. Slide will not receive any proceeds from the sale by such selling stockholders of the additional shares.

    Barclays and Morgan Stanley acted as joint book-running managers for the offering. Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, and Piper Sandler acted as co-managers for the offering.

    A registration statement on Form S-1 relating to the offering has been filed with the Securities and Exchange Commission and was declared effective on June 17, 2025. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (or by email at barclaysprospectus@broadridge.com or telephone at 1-888-603-5847) or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended, and otherwise in accordance with applicable securities laws in any other jurisdiction.

    About Slide

    Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide’s cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL, Slide was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes.

    Contacts

    Media
    Rachel Carr
    Chief Marketing Officer
    press@slideinsurance.com

    Investors
    ir@slideinsurance.com

    The MIL Network

  • MIL-OSI: Golar LNG Limited Announces Proposed Offering of $500 Million of Convertible Senior Notes due 2030

    Source: GlobeNewswire (MIL-OSI)

    Hamilton, Bermuda, June 25, 2025 – Golar LNG Limited (the “Company”) (NASDAQ: GLNG) announces today that it intends to offer, subject to market and other conditions, $500 million aggregate principal amount of Convertible Senior Notes due 2030 (the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also intends to grant the initial purchasers of the Notes a 30-day option to purchase up to an additional $75 million aggregate principal amount of the Notes in connection with the offering.

    In connection with the offering of the Notes, certain of the Company’s directors and officers have provided an indication of interest to purchase the Company’s common shares from investors in the offering of the Notes, and certain entities controlled by or affiliated with the Company’s directors have provided an indication of interest to purchase Notes at the initial offering price.

    The Notes will be senior, unsecured obligations of the Company, pay interest semiannually in arrears on June 15 and December 15, mature on December 15, 2030, and be convertible into the Company’s common shares, cash, or a combination of shares and cash, at the Company’s election.

    The Company intends to use the net proceeds from the sale of the Notes (including any Notes sold pursuant to the initial purchasers’ option to purchase additional Notes, if exercised) to repurchase up to 2.5 million of the Company’s common shares in connection with the offering of the Notes and for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures. 

    IMPORTANT INFORMATION
    This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.

    The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws.

    This announcement contains information about a pending transaction and there can be no assurance that this transaction will be completed.

    FORWARD LOOKING STATEMENTS
    This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “will,” “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements and include statements related to the proposed offering of the Notes, the expected terms and conditions, the intended use of proceeds and other non-historical matters.

    These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict and which could cause actual outcomes and results to differ materially from what is expressed or forecasted in such forward-looking statements. Such risks include the risk that the offering of the Notes does not proceed on the terms described herein or at all and risks relating to the actual use of proceeds and other risks described in our most recent annual report on Form 20-F filed with the SEC.  You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

    Hamilton, Bermuda
    June 25, 2025Investor Questions: +44 207 063 7900
    Karl Fredrik Staubo – CEO
    Eduardo Maranhão – CFO
    Stuart Buchanan – Head of Investor Relations

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

    This announcement is not being made in and copies of it may not be distributed or sent into any jurisdiction in which the publication, distribution or release would be unlawful.

    The MIL Network

  • MIL-Evening Report: From HAL 9000 to ME3AN: what film’s evil robots tell us about contemporary tech fears

    Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communication, Western Sydney University

    © 2025 Universal Studios. All Rights Reserved.

    Filmgoers have long been captivated by stories about robots. We are fascinated by their utopian promise, their superhuman intelligence and, in the case of the cyborg, their often uncanny resemblance to humans.

    But it is the evil robot – the machine that malfunctions, rebels or was built to harm – that has most powerfully gripped the collective imagination of audiences.

    From the silent menace of Maschinenmensch in 1927’s Metropolis, to the relentless pursuit of the Terminator, to the campy violence of M3GAN, evil robots continue to resonate.

    These films not only thrill, scare and entertain audiences. They also reflect deep-seated cultural anxieties about the unpredictable consequences of the current and future human-robot relationship.

    The killer robot is far from a simple villain. It is a mirror held up to some of the most pressing cultural questions we have about human autonomy and responsibility in the digital age.

    The precarity of human control

    The enduring appeal of the evil robot narrative lies in the way horror often channels our deepest cultural anxieties about the speed of technological advancement and the precarity of human control in an increasingly digital (and robotic) world.

    In The Spark of Fear, scholar Brian Duchaney posits that improvements in technology necessitate new types of horror stories, and that horror as a genre acts out our distrust of the social advances that new technology brings.

    In the late 1960s, there was unease about the growing sophistication of computers and the impacts of the Space Race. HAL 9000 of 2001: A Space Odyssey (1968) represented this threat through a disembodied AI that icily turned against its human creators.

    The android Ash in Alien (1979) added another layer of menace, disguised as a human embedded in the spacecraft crew and programmed to prioritise corporate interests over human life. In this case, Ash became a proxy for concerns over corporate adoption of automation, and the increasing role of technology in military and industrial contexts.

    During the Cold War era, fears of nuclear annihilation and concerns over reaching a point where we could no longer switch off the machines led to the unforgettable T-800 and shape-shifting T-1000 in the first two Terminator films (1984 and 1991).

    In the 21st century, as artificial intelligence and robotics became more prevalent in everyday life, the cinematic robot has entered our homes, culminating in M3GAN’s companion-gone-rogue.

    In M3GAN (2022), Gemma (Allison Williams) is a robotics designer who creates an AI-powered companion doll to help her orphaned niece Cady (Violet McGraw) cope with her grief. But the doll becomes dangerously overprotective.

    In M3GAN 2.0 (2025), the consciousness of the titular robot appears to have survived the 2022 film and, in a move that borrows from The Terminator 2, M3GAN shifts from villain to protector.

    The new film explores the consequences of the underlying tech for M3GAN being stolen and misused by a powerful defence contractor to create a military-grade robot, known as Amelia. The only option to counteract Amelia is for Gemma to resurrect M3GAN – complete with upgrades to make her faster, stronger and more deadly.

    Our technological anxieties

    Why is M3GAN such an effective avatar for our contemporary anxieties?

    Horror theorist Noël Carroll argues that monsters are often frightening because they don’t fit neatly into normal categories. They may be “in-between” things (such as part human, part machine) or contradictory (for example a zombie: both alive and dead at the same time).

    M3GAN is a great example of both. She looks and acts like a young girl, with expressive facial features and a snarky sense of humour. But she’s really just artificial intelligence inside a robot body.

    She’s also contradictory: she is designed to care for and protect her owner, yet she does so in exceedingly violent and deadly ways. These paradoxes make her both frightening and fascinating for audiences.

    M3GAN and M3GAN 2.0 bring to the surface our technological anxieties, and defuse them through their camp qualities.

    One sequence in the earlier film sees M3GAN break into a fluid yet unsettling dance, mimicking the performance of many a TikTok teen, only for the dance to end abruptly when she snatches a paper cutter blade and returns to stalking her victim.

    This meme-ified moment – combined with some deadpan one-liners and often comically ironic facial expressions – have led to M3GAN becoming a gay icon in the wake of the original film.

    M3GAN’s campiness doesn’t completely neutralise the horror. It reformulates it, offering a cathartic release that makes the subject matter more digestible. While we feel fear, we do so without real-world consequences. The fear is disarmed through humour.

    This multifaceted horror experience more fully reflects the complexities of our evolving relationship with new technology. These relationships often move through a spectrum of concern, anxiety and fear before we find ways to manage and normalise those feelings.

    Humour and catharsis are two of these coping mechanisms. Movies provide us with a way of neatly and temporarily resolving what often remain unresolved questions.

    Films like M3GAN 2.0 illustrate how horror narratives can also transform alongside the technologies they critique, offering not only tension and jump scares, but also philosophical consideration, comedy and cathartic release.

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

    ref. From HAL 9000 to ME3AN: what film’s evil robots tell us about contemporary tech fears – https://theconversation.com/from-hal-9000-to-me3an-what-films-evil-robots-tell-us-about-contemporary-tech-fears-258397

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Yes, Victoria’s efforts to wean households off gas have been dialled back. But it’s still real progress

    Source: The Conversation (Au and NZ) – By Trivess Moore, Associate Professor in Property, Construction and Project Management, RMIT University

    MirageC/Getty

    On the question of gas, Victoria’s government faces pressure from many directions.

    The Bass Strait wells supplying Australia’s most gas-dependent state are running dry. Gas prices shot up in 2020 and have stayed high. Natural gas is mainly methane, a potent greenhouse gas.

    But weaning more than two million gas-using households off the fossil fuel is hard. The gas lobby pushed back against proposed changes, as did the Victorian Chamber of Commerce and Industry, while resistance from some stakeholders led to a backdown on plans to phase out gas cooktops.

    That’s why the government’s decision to introduce most of the proposed changes is good news. Early plans to require dead gas heaters to be replaced with electric are gone for private housing. But from 2027, new homes have to be all-electric, while landlords will have to replace defunct gas appliances with electric and have ceiling insulation. The move will cut energy bills and accelerate the shift away from gas.

    How did we get here?

    This week’s announcement comes after lengthy consultation on changes first proposed in 2021.

    Some early responses have been supportive, though the gas industry isn’t happy, claiming the reforms will restrict customer choice and cost households more.

    Premier Jacinta Allan pitched the announcement as a way to reserve dwindling and more expensive gas supplies for industry, stating:

    by 2029, these reforms will unlock just under 12 petajoules of gas every year […] by 2035, they’ll deliver 44 PJ annually – enough to meet 85% of Victoria’s forecast industrial demand.

    What are the main changes?

    From January 2027, all newly built homes have to be all-electric. This closes a loophole in existing rules where the all-electric rule only applied to new houses requiring a planning permit.

    When a gas hot water system reaches end of life in an existing house, it will have to be replaced with an efficient electric alternative from March 2027.

    The news is even better for the rental sector.

    In 2021, the state government introduced minimum requirements for rentals. These are now being upgraded to include improved energy efficiency.

    From March 2027, new energy efficiency rules will apply to rentals and public housing, including:

    • gas hot water systems and heaters must be replaced with efficient heat pumps at end of life

    • at the start of a new lease, the rental must have draught proofing, ceiling insulation installed with a minimum R5.0 rating when there is no insulation already, and an efficient electric cooling system in the main living area.

    To help households transition, all upgrades are covered under the Victorian Energy Upgrades program which will help reduce capital costs.

    These plans are welcome. They will cut household energy bills and help meet wider sustainability goals.

    As any Victorian who has sweltered over summer or frozen through winter knows, many of the state’s houses are not great on thermal performance. Most existing homes were built before the introduction of minimum standards in the early 2000s.

    Older homes are also more likely to present health risks such as mould and damp.

    Old gas hot water units in Victoria can be repaired, but replacements will have to be electric from 2027.
    Rusty Todaro/Shutterstock

    Trade-offs proved necessary

    During the consultation period, the Victorian government floated even more ambitious plans, such as requiring all households to replace dead gas heaters with efficient electric options.

    The government originally explored making electric induction cooktops mandatory in new builds. These plans didn’t get through, potentially because of the attachment some householders feel to their gas heaters and cooktops, as we found in our research.

    The state government looks to have decided not to let perfect be the enemy of the good. Better to make significant improvements even with some trade-offs.

    When the market isn’t enough

    Policymakers usually prefer the market to find solutions rather than requiring change through regulations.

    This isn’t always possible. Here, Victoria’s gas supply challenges, subpar housing stock and the pressing need to act on climate change means regulatory nudges are needed.

    Could the government’s changes trigger a backlash? It’s possible, especially if the changes are framed as an added cost to landlords and their tenants. All-electric households are cheaper to run, but it costs money upfront to replace appliances. Waiting until an appliance’s end of life and providing upgrade subsidies will help reduce the cost impact. High gas-users save more – a Melbourne household quitting gas would save almost A$14,000 over ten years.

    18 months until launch

    The first of these changes will be in place in just 18 months.

    Schemes such as this have to be structured carefully. To ensure they work as well as possible for renters in particular, we suggest measures to avoid unintended consequences, such as means-testing any subsidy schemes to avoid leaving out lower-income households.

    We found many householders cannot access reliable information on retrofits and don’t always trust the skills and information given by tradespeople. This is why it’s vital to have accessible, independent, accurate and trustworthy support in understanding how best to replace gas appliances with electric – and how to assess tradie qualifications.

    The government’s decision to exempt rentals with existing ceiling insulation means rentals with old or compacted insulation will miss out.

    Victoria should instead look to the Australian Capital Territory, which mandates installation of new R5.0 insulation if existing insulation isn’t at least R2.

    The government must also ensure renters don’t carry the upfront cost of the upgrades in higher rent. In Sweden, rent increases linked to energy efficiency upgrades were banned.

    For the public to take to these changes, the government must ensure communication is clear and early and that any financial support is adequate and targeted to those most in need.

    Trivess Moore has received funding from various organisations including the Australian Research Council, Australian Housing and Urban Research Institute, Victorian government and various industry partners. He is a trustee of the Fuel Poverty Research Network.

    Nicola Willand has received funding for research from various organisations, including the Australian Research Council, the Victorian state government, the Lord Mayor’s Charitable Foundation, the Future Fuels Collaborative Research Centre, the National Health and Medical Research Council, Energy Consumers Australia and the British Academy. She is a trustee of the Fuel Poverty Research Network charity and affiliated with the Australian Institute of Architects.

    Sarah Robertson has received funding from various organisations, including the Australian Research Council, Australian Housing and Urban Research Institute, Victorian state government, Lord Mayor’s Charitable Foundation, and VicHealth. She is a Steering Committee member for Future Earth Australia.

    ref. Yes, Victoria’s efforts to wean households off gas have been dialled back. But it’s still real progress – https://theconversation.com/yes-victorias-efforts-to-wean-households-off-gas-have-been-dialled-back-but-its-still-real-progress-259695

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Rep. Dan Goldman Delivers Poignant Address on Corruption, Erosion of Accountability, and a Roadmap for Restoring Public Trust

    Source: US Congressman Dan Goldman (NY-10)

    Rep. Dan Goldman: “Democracy depends on a basic understanding: that we, the people, entrust elected officials with power in exchange for their service for the public good. That trust is not a given—it must be earned. And when those in power use their positions to enrich themselves, to favor allies, or to punish enemies, that contract begins to dissolve.” 

    Goldman: “Restoring faith in our system is going to take more than these specific and tangible legislative objectives. We can’t predict every possible ethics violation or potential corrupt deal. The voters – the people – must have higher expectations of their elected officials, and must hold them accountable.” 

    Watch the Full Address Here: 

    New York, NY – Congressman Dan Goldman (NY-10) delivered the featured speech at New York Law School’s 199th CityLaw Breakfast titled, “Democracy on the Brink: Corruption and the Public Trust.”  

    In a moment of historic political upheaval, Goldman issued a candid assessment of how public corruption and the erosion of guardrails and forms of accountability – on both sides of the political aisle and at every level of government – are threatening the very foundation of American democracy and the willingness of the public to buy into the American social contract.  

    Drawing on recent cases, public opinion data, and a call to action for institutional reform, Congressman Goldman offered both a warning and a roadmap for restoring public confidence in government and the imperative of doing so to preserve liberal democracy. 

    Remarks as prepared are available below: 

    Rep. Dan Goldman

    “We gather here today at a time when the very foundations of our democracy are enduring a stress test. 

    To be sure, we are facing threats abroad from Russia, Iran and China, and partisan gridlock in Washington makes it incredibly difficult to govern as the framers imagined.  

    But I’m not referring to those challenges, which are ones that our great nation has grappled with – and conquered – many times over our 250 year history.  

    I’m instead talking about something far more insidious — something that corrodes from within and is a more significant existential threat to the future of the republic. That threat is naked, unbridled, and brazen corruption at the highest levels of our government.   

    In so many ways, our founding fathers anticipated many potential obstacles and pitfalls in drafting the constitution – including the fundamental concept that the separation of powers among three branches of government would naturally provide the necessary checks and balances to preserve and protect the will of the people.  

    Article One confers to Congress the power of the purse and the power to declare war.  

    Article Two requires the Executive Branch to faithfully execute the laws passed by Congress and to oversee foreign relations. 

    And Article III charges the judiciary with saying what the law is, properly insulated from political pressure by lifetime tenure for judicial appointees. 

    This daring and innovative structure presupposed two assumptions that, if lacking, would crater the entire system:  

    • First, that members of one branch of government would prioritize their own power and authority over pure tribalism;  

    • and second, that the President of the United States would unconditionally believe in the validity and authority of the Constitution in the first place. 

    Sadly, we are witnessing the combination of these two conditions that has our system of government teetering on the brink. No President – not even Nixon – so disregarded the law and the constitution as Donald Trump does. And I can think of no majority in the Congress that has so completely turned over all of its own power and authority to a different branch of government as this Republican Congress has to President Trump.  

    But this inflection point did not come out of nowhere. We can have as many laws and institutions as we want, but if the American people do not have trust that those laws are fairly and equally applied or that those institutions are placing the public good ahead of personal interests, then they aren’t worth the paper they are written on or the dilapidated buildings they reside in. 

    Sadly, trust in elected representatives is at an all-time low. The National Election Study has been tracking public trust in government since 1958, when the percentage of Americans who said they trust the government to do what is right “just about always” or “most of the time” was 73 percent. In 1964 it was 77 percent. 

    Today, that number stands at a horrifying 22 percent. Only 2 percent of respondents say they trust the government to do what is right “just about always.” Two percent. Since 2007, the share of Americans saying they trust the government hasn’t broken 30 percent. 

    And while Donald Trump has taken official corruption to new lows, he is only able to do that because the erosion of the public trust has been well underway for years – by both parties, especially here in New York. 

    As the lead counsel in the first impeachment of Donald Trump for corruptly abusing his official power to try to coerce a foreign government to help his personal campaign, very little that Donald Trump does surprises me.  If there is anything that does, it is not that he is engaged in widespread abuse of his power for personal gain, but rather how openly and brazenly he is doing it.    

    Take just a couple of examples. 

    A few weeks ago, President Trump accepted a reported $400 million luxury jet from the royal family of Qatar without the consent of Congress — a clear violation of the Foreign Emoluments Clause, which requires Congress to consent to any foreign gift, title or emolument. Remember, President Ulysses S. Grant requested consent from Congress to receive the Statue of Liberty from France, and as far as I know it was never going to be used by Grant’s presidential library after he left office. 

    President Trump openly bragged about the plane just a couple of days after he announced a $2 billion financial deal with the UAE in connection to a crypto stablecoin recently issued by his own crypto company, which yielded him hundreds of millions of dollars.  He literally announced this deal on his first official international trip.  

    And he’s grifting at home too. He sold 25 VIP White House tours to the top 25 shareholders of his crypto company – without any known national security vetting – that saw the value of his shares go up by 50%.  

    Yesterday, the Senate voted on stablecoin legislation that very well may make it to the resolute desk for his signature – yes, he might be asked to sign legislation that has a direct impact on his own financial interests.  

    Remember when the public was outraged during his first term when he only ceased day-to-day involvement in the Trump Organization, rather than fully divesting his interests? 

    Now he is soliciting foreign investments in his crypto company and selling White House tours to the largest investor, and there isn’t a hint of an investigation from the Department of Justice nor from the Republican majority in Congress. 

    *************************** 

    Perhaps some of the reasons for such little outrage can be summed up in a statement I hear all the time: “oh, every politician is corrupt.” Too many people simply have come to accept an expectation that elected officials are corrupt and – someway, somehow – every politician is making money from his or her office. 

    As frustrated as I get hearing that over and over, it’s hard to argue with.  
     

    Just look here at our great city and state.  Our current mayor was charged last year for alleged honest services fraud and campaign finance violations tied to foreign money and influence. And while I do think the legal basis for the corruption charge was suspect, I couldn’t help but notice that the most common conversation I had with people about the Indictment began with the question, “is what he did really worthy of a federal indictment?”  

    In other words, expectations are so low for politicians that some degree of corruption is expected and accepted, so much so that federal charges should be saved for only the most egregious conduct.  

    Those who believe that are sadly in very good company: the Supreme Court also seems to believe that is what the law requires.  

    The running joke nowadays is that in order to be convicted of federal corruption charges, the FBI needs to find gold bars in your closet. 

    That of course is what happened to former Democratic Senator Bob Menendez of New Jersey, who was convicted of honest services fraud here in the Southern District of New York after accepting gold bars in exchange for a variety of official actions taken on behalf of the Egyptian government, which gave him the gold bars. 

    We can be frustrated that the Supreme Court has repeatedly narrowed the reach of federal corruption law but it’s not actually a close call in their mind: just about every Supreme Court ruling from the McDonell opinion to the present has been unanimous, 9-0. That includes the Buffalo Billions case and Joe Percoco here in New York, and it caused both State Senate Majority Leader Dean Skelos and Assembly Speaker Sheldon Silver to be retried before they were each ultimately convicted.   

    The fact of the matter is that both Democrats and Republicans have repeatedly succumbed to personal greed over the public good.  And while Donald Trump is attacking all forms of political accountability – including weaponizing the Department of Justice to reward his allies and punish his enemies – the stage had long ago been set for a wannabe dictator like Trump to come along and take a battering ram to a rule of law that had been fraying at the edges for some time.   

    The damage to our system goes far beyond any individual tragedy. It goes to the very foundation of our democracy.  

    Democracy depends on a basic understanding: that we, the people, entrust elected officials with power in exchange for their service for the public good. That trust is not a given—it must be earned. And when those in power use their positions to enrich themselves, to favor allies, or to punish enemies, that contract begins to dissolve.  

    That broken trust – that decaying social contract – is, in my view, what paved the way for the resurrection of the current resident of the White House. He has turned suspicion into toxic cynicism. He has turned facts into a partisan debate. He has used distrust of the system to frame himself as that system’s victim. 

    The question asked is no longer whether politicians are true to their oaths of office. It is instead a question of moral relativism – is she as bad as he is? And once the average voter believes that all politicians are corrupt, that no facts can be trusted, that the pursuit of power justifies any means necessary, the foundations of our democracy crumble and we invite a dangerous new normal: where truth is optional, ethics are flexible, and accountability is partisan. 

    There are many things to be concerned about these days.  We are dealing with many threats to the rule of law and our basic democratic values and foundations.

    But I firmly believe that the path towards restoring faith in our government – in this great experiment that we call democracy – must start by addressing public corruption.  And that is not only through revising our criminal statutes but also by altering the structure of our electoral system. 

    ********************** 

    So if you aren’t ready to crawl into a hole after that ever-so-uplifting recitation of the current state of distrust in our system, let me try to propose some ideas and solutions that can restore confidence in our elected officials – and, by extension, our government.  

    First, voters must see a renewed commitment to ethical government from candidates for office. Donald Trump has normalized the once-heretic idea that a President of the United States does not believe in the constitution. That must end, and it must end now. Not just by following the law, but by holding politicians to a higher standard – and by those within the same party.  

    It frustrates me to no end when I hear people say that some alleged misconduct is okay because the official was not criminally charged or convicted.  That is not the standard we should hold each other to.  

    A criminal conviction is an incredibly high standard – 12 unanimous jurors must find beyond a reasonable doubt that the admissible evidence was sufficient to meet every legal element of the charge.  That must not be – it can not be – the standard that elected representatives are held to.  

    Second, we must set an example by setting guardrails for ourselves. 

    Take stock trading by members of Congress.  I’ve been in Congress about two and a half years, and I’m confident that I haven’t received a single piece of confidential information through my official duties that would have helped me play the market.  But it doesn’t matter – because simply the appearance of receiving confidential information is more than enough to raise questions about whether that information was used in connection with trading stocks by members for their personal gain. 

    And that’s simply why members of Congress should not be permitted to buy and sell individual stocks.  

    When I came into Congress, I sold all of my individual stocks and put my money in a blind trust. But that should be the norm, not the exception. We must pass a law prohibiting individual stock trading by members of Congress.  We can set an example for ourselves. 

    There are other actions that we can take to restore trust in our democracy and our elected officials. 

    We must eliminate big money in politics – at a minimum there must be full transparency in campaign finance. No more dark money. Sunlight is the best disinfectant.  

    We must set clear rules and guidelines on gifts and conflicts of interests – and there must be consequences for violating them.  

    Similarly, we can no longer trust that our elected officials – especially our president – will view the plain language of the Constitution as binding. So we must pass legislation that not only creates an enforcement vehicle for the Emoluments Clause, the Hatch Act, and other ethics laws and rules, but imposes consequences as well.    

    I believe we must draft legislation to codify the independence of the Department of Justice from personal influence by the President.  The evisceration of the Public Integrity Section, the firing of so many apolitical and upstanding career prosecutors, Executive Orders by the President directing the FBI to investigate political enemies – all must be addressed and prohibited.  That is the stuff of banana republics, not a constitutional republic.  

    And finally, we need to rewrite federal public corruption law, which I am in the process of working on right now. The Supreme Court has repeatedly urged Congress to revise the corruption statute, and I plan to take them up on their suggestion. Every branch of government – elected officials, prosecutors, and judges – must have a clear understanding of what is – and is not – official corruption. 

    But restoring faith in our system is going to take more than these specific and tangible legislative objectives. We can’t predict every possible ethics violation or potential corrupt deal. The voters – the people – must have higher expectations of their elected officials, and must hold them accountable. 

    I ran for Congress to preserve and protect our democracy and ensure that the rule of law remains our nation’s guiding light. And I believe that if we are honest with the public, accountable in our actions, uncompromising in what we expect of ourselves, and courageous in our convictions, we can restore the trust that has been lost. 

    But that work starts with integrity. It starts with doing the right thing, not the easy thing. It starts with a willingness to look the American public in the eye, to admit the fault of those we share this awesome responsibility with, and to pledge that we can, we must, we will do better. 

    History is watching.” 

    ###

    MIL OSI USA News

  • MIL-OSI Canada: Putting Alberta-made businesses on the map

    Alberta is a province where locally made businesses can reach their full potential and become known through international markets. Across the world, Alberta is recognized as a trusted trade partner thanks to its high-quality services and products and hard-working entrepreneurs. To help small- and medium-sized businesses continue to grow, Alberta’s government is investing in the Trade Accelerator Program (TAP), which empowers them to increase their exports and revenue, while also creating new jobs for Albertans.

    In 2017, TAP was established nationally and Calgary Economic Development started administering the program within Alberta in 2018. Since its creation, TAP has helped more than 550 companies in Alberta receive the knowledge, mentorship and resources they need to help their businesses grow and reach international markets.

    Through a new $2.8-million investment, Alberta’s government is ensuring Calgary Economic Development has the resources it needs to continue delivering TAP for another five years, which is expected to help up to 650 more companies.

    “Increasing trade is a priority for our government, which is why we are helping small- and medium-sized businesses grow. More than ever, we need to diversify our global trade and give businesses the tools they need to succeed. In return, Alberta will see more jobs, more investment and a stronger economy with programs like this.”

    Joseph Schow, Minister of Jobs, Economy, Trade and Immigration

    “With global markets shifting rapidly, Alberta’s small- and medium-sized businesses need every advantage to stay ahead. This support from the Government of Alberta invests in entrepreneurs’ big ideas and helps ensure that local businesses can access the tools and expertise they need to scale globally. Stronger trade capacity means stronger businesses – and a stronger, more resilient Alberta.”

    Brad Parry, president and CEO, Calgary Economic Development

    In addition to the continued operation of TAP, this funding will also facilitate the creation of a new program from Calgary Economic Development called “Levelling Up.” This program will launch in 2026 and will include additional sector- and market-specific trade programming to support businesses in their complex global market expansion needs. “Levelling Up” will also include the ongoing Global Trade Classroom Series along with online resources. It is a program designed for companies who have participated in TAP, with targeted trade support for entering more complex markets.

    “Calgary Economic Development and the Government of Alberta have been pivotal in accelerating naturemary’s growth, innovation and global reach. Their support empowers us to thrive, create jobs and elevate pain relief and wellness from Alberta to the world.”

    Kapil Kalra, president & co-founder, naturemary, (TAP alumni) 

    Companies like naturemary, Rok Water, Knead Technologies and Zeno Renewables began in Alberta as small businesses but received training and support through TAP. Now these companies, like many others, have grown to receive recognition and business in markets around the world.

    Alberta’s government remains focused on continuing to build a resilient and diversified economy that is better positioned to withstand external shocks and ensure long-term prosperity.

    Quick facts

    • TAP supports businesses across Alberta through provincewide delivery, with past sessions hosted in Calgary, Edmonton, Red Deer, Grand Prairie, Canmore, Lethbridge and Medicine Hat.
    • The program is open to any Alberta-based company and businesses can attend sessions in any region.
    • Upcoming TAP cohorts across Alberta include:
      • Calgary, Sept. 9 – Oct. 22
      • Red Deer, Oct. 15 – Nov.20
      • Edmonton, Nov. 4 – Dec. 10

    Related information

    • Trade Accelerator Program
    • Alberta Export Expansion Program
    • Government of Alberta mission calendar

    MIL OSI Canada News

  • MIL-OSI USA: Former Vice-President of Asphalt Paving Company Incarcerated for Bid Rigging

    Source: US State of California

    A former senior executive of a Michigan asphalt paving company was sentenced today to six months in prison and a $500,000 fine for his role in multiple conspiracies to rig bids for asphalt paving services contracts in Michigan.

    Bruce F. Israel, former vice-president of Pontiac-based Asphalt Specialists LLC (ASI), pleaded guilty in January 2024 to conspiring with Al’s Asphalt Paving Company Inc. (Al’s Asphalt), F. Allied Construction Company Inc. (Allied), and employees from those companies to rig bids in each other’s favor. Israel is one of seven individuals that have been charged as part of an ongoing federal antitrust investigation into bid rigging and other anticompetitive conduct in the asphalt paving services industry. Three companies also have been charged as part of the investigation, which to date has resulted in over $8.7 million in criminal fines.

    “Bid rigging is cheating, plain and simple,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “By their own admissions, the defendant and his co-conspirators cheated their customers and betrayed the basic notions of free and fair competition, all to benefit themselves. The Antitrust Division and its law enforcement partners will bring to justice all individuals who deprive the public of the benefits of competition by seeking their incarceration.”

    “Anyone choosing corporate greed over open and fair competition should take note of the sentence handed down today,” said Special Agent in Charge Anthony Licari of the Department of Transportation Office of Inspector General, Midwestern Region. “This result underscores our firm resolve and ongoing collaboration with law enforcement and prosecutorial partners to identify, expose, and dismantle any efforts to undermine the systems that exist to protect consumers.”

    “Today’s sentence reflects the seriousness of bid rigging that degrades the competitive process,” said Inspector General Tammy Hull of the United States Postal Service. “We will continue to pursue and bring to justice those companies that commit fraud by conspiring to engage in anticompetitive practices for personal gain and corporate greed.”

    According to court documents, the co-conspirators coordinated each other’s bid prices so that the agreed-upon losing company would submit intentionally non-competitive bids. These bids gave customers the false impression of competition when, in fact, the co-conspirators already had decided among themselves who would win the contracts. Israel participated in the conspiracy with Al’s Asphalt from March 2013 through November 2018 and the Allied conspiracy from July 2017 through May 2021.

    Israel’s former employer, ASI, also pleaded guilty for its participation in the Al’s Asphalt and Allied conspiracies in January 2024. Another former ASI executive, Daniel Israel, pleaded guilty for his participation in the conspiracy with Al’s Asphalt in October 2023, and a third former ASI executive, Timothy Baugher, pleaded guilty for his participation in the Allied conspiracy in January 2025. ASI was sentenced in August 2024 to pay a fine of $6,500,000.

    The Antitrust Division’s Chicago Office and the Offices of Inspectors General for the Department of Transportation and U.S. Postal Service investigated the case.

    The Antitrust Division’s Chicago Office is prosecuting the case.

    Anyone with information in connection with this investigation should contact the Antitrust Division’s Complaint Center at 888-647-3258 or visit www.justice.gov/atr/report-violations.

    MIL OSI USA News

  • MIL-OSI Security: Former Vice-President of Asphalt Paving Company Incarcerated for Bid Rigging

    Source: United States Attorneys General

    A former senior executive of a Michigan asphalt paving company was sentenced today to six months in prison and a $500,000 fine for his role in multiple conspiracies to rig bids for asphalt paving services contracts in Michigan.

    Bruce F. Israel, former vice-president of Pontiac-based Asphalt Specialists LLC (ASI), pleaded guilty in January 2024 to conspiring with Al’s Asphalt Paving Company Inc. (Al’s Asphalt), F. Allied Construction Company Inc. (Allied), and employees from those companies to rig bids in each other’s favor. Israel is one of seven individuals that have been charged as part of an ongoing federal antitrust investigation into bid rigging and other anticompetitive conduct in the asphalt paving services industry. Three companies also have been charged as part of the investigation, which to date has resulted in over $8.7 million in criminal fines.

    “Bid rigging is cheating, plain and simple,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “By their own admissions, the defendant and his co-conspirators cheated their customers and betrayed the basic notions of free and fair competition, all to benefit themselves. The Antitrust Division and its law enforcement partners will bring to justice all individuals who deprive the public of the benefits of competition by seeking their incarceration.”

    “Anyone choosing corporate greed over open and fair competition should take note of the sentence handed down today,” said Special Agent in Charge Anthony Licari of the Department of Transportation Office of Inspector General, Midwestern Region. “This result underscores our firm resolve and ongoing collaboration with law enforcement and prosecutorial partners to identify, expose, and dismantle any efforts to undermine the systems that exist to protect consumers.”

    “Today’s sentence reflects the seriousness of bid rigging that degrades the competitive process,” said Inspector General Tammy Hull of the United States Postal Service. “We will continue to pursue and bring to justice those companies that commit fraud by conspiring to engage in anticompetitive practices for personal gain and corporate greed.”

    According to court documents, the co-conspirators coordinated each other’s bid prices so that the agreed-upon losing company would submit intentionally non-competitive bids. These bids gave customers the false impression of competition when, in fact, the co-conspirators already had decided among themselves who would win the contracts. Israel participated in the conspiracy with Al’s Asphalt from March 2013 through November 2018 and the Allied conspiracy from July 2017 through May 2021.

    Israel’s former employer, ASI, also pleaded guilty for its participation in the Al’s Asphalt and Allied conspiracies in January 2024. Another former ASI executive, Daniel Israel, pleaded guilty for his participation in the conspiracy with Al’s Asphalt in October 2023, and a third former ASI executive, Timothy Baugher, pleaded guilty for his participation in the Allied conspiracy in January 2025. ASI was sentenced in August 2024 to pay a fine of $6,500,000.

    The Antitrust Division’s Chicago Office and the Offices of Inspectors General for the Department of Transportation and U.S. Postal Service investigated the case.

    The Antitrust Division’s Chicago Office is prosecuting the case.

    Anyone with information in connection with this investigation should contact the Antitrust Division’s Complaint Center at 888-647-3258 or visit www.justice.gov/atr/report-violations.

    MIL Security OSI

  • MIL-OSI: F&M Bank Announces Appointment of Ahmed Alomari to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, June 25, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), announces the appointment of Ahmed Alomari to the Board of Directors of both the Company and the Bank. Mr. Alomari was appointed by the F&M Board of Directors on June 24, 2025, at the monthly board meeting.

    Mr. Alomari is widely recognized for his expertise in Oracle database performance and enterprise systems architecture. He founded Cybernoor in 2007 and remained CEO until it was acquired in 2021 by Buchanan Technologies [Cybernoor Info]. As part of the acquisition, Alomari became the Executive Vice President for Buchanan Technologies, overseeing the company’s database and application operations [Buchanan Technologies Appoints Ahmed Alomari as Executive VP].

    “Ahmed brings a deep level of technical expertise and a strong track record of innovation and strategic insight,” said Lars Eller, President and CEO of F&M Bank. “His knowledge of enterprise systems and data performance will be a valuable asset as we continue to enhance our digital capabilities and technology infrastructure.”

    Mr. Alomari holds a degree in Computer Science from the University of Michigan’s School of Engineering.

    About F&M Bank

    F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe harbor statement

    Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact: Investor and Media Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81637346-a2e6-4544-b7ff-fe65be09b5e1

    The MIL Network

  • MIL-OSI: F&M Bank Announces Appointment of Ahmed Alomari to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, June 25, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), announces the appointment of Ahmed Alomari to the Board of Directors of both the Company and the Bank. Mr. Alomari was appointed by the F&M Board of Directors on June 24, 2025, at the monthly board meeting.

    Mr. Alomari is widely recognized for his expertise in Oracle database performance and enterprise systems architecture. He founded Cybernoor in 2007 and remained CEO until it was acquired in 2021 by Buchanan Technologies [Cybernoor Info]. As part of the acquisition, Alomari became the Executive Vice President for Buchanan Technologies, overseeing the company’s database and application operations [Buchanan Technologies Appoints Ahmed Alomari as Executive VP].

    “Ahmed brings a deep level of technical expertise and a strong track record of innovation and strategic insight,” said Lars Eller, President and CEO of F&M Bank. “His knowledge of enterprise systems and data performance will be a valuable asset as we continue to enhance our digital capabilities and technology infrastructure.”

    Mr. Alomari holds a degree in Computer Science from the University of Michigan’s School of Engineering.

    About F&M Bank

    F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe harbor statement

    Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact: Investor and Media Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81637346-a2e6-4544-b7ff-fe65be09b5e1

    The MIL Network

  • MIL-OSI: F&M Bank Announces Appointment of Ahmed Alomari to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, June 25, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), announces the appointment of Ahmed Alomari to the Board of Directors of both the Company and the Bank. Mr. Alomari was appointed by the F&M Board of Directors on June 24, 2025, at the monthly board meeting.

    Mr. Alomari is widely recognized for his expertise in Oracle database performance and enterprise systems architecture. He founded Cybernoor in 2007 and remained CEO until it was acquired in 2021 by Buchanan Technologies [Cybernoor Info]. As part of the acquisition, Alomari became the Executive Vice President for Buchanan Technologies, overseeing the company’s database and application operations [Buchanan Technologies Appoints Ahmed Alomari as Executive VP].

    “Ahmed brings a deep level of technical expertise and a strong track record of innovation and strategic insight,” said Lars Eller, President and CEO of F&M Bank. “His knowledge of enterprise systems and data performance will be a valuable asset as we continue to enhance our digital capabilities and technology infrastructure.”

    Mr. Alomari holds a degree in Computer Science from the University of Michigan’s School of Engineering.

    About F&M Bank

    F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe harbor statement

    Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact: Investor and Media Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81637346-a2e6-4544-b7ff-fe65be09b5e1

    The MIL Network

  • MIL-OSI: F&M Bank Announces Appointment of Ahmed Alomari to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, June 25, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), announces the appointment of Ahmed Alomari to the Board of Directors of both the Company and the Bank. Mr. Alomari was appointed by the F&M Board of Directors on June 24, 2025, at the monthly board meeting.

    Mr. Alomari is widely recognized for his expertise in Oracle database performance and enterprise systems architecture. He founded Cybernoor in 2007 and remained CEO until it was acquired in 2021 by Buchanan Technologies [Cybernoor Info]. As part of the acquisition, Alomari became the Executive Vice President for Buchanan Technologies, overseeing the company’s database and application operations [Buchanan Technologies Appoints Ahmed Alomari as Executive VP].

    “Ahmed brings a deep level of technical expertise and a strong track record of innovation and strategic insight,” said Lars Eller, President and CEO of F&M Bank. “His knowledge of enterprise systems and data performance will be a valuable asset as we continue to enhance our digital capabilities and technology infrastructure.”

    Mr. Alomari holds a degree in Computer Science from the University of Michigan’s School of Engineering.

    About F&M Bank

    F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe harbor statement

    Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact: Investor and Media Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81637346-a2e6-4544-b7ff-fe65be09b5e1

    The MIL Network

  • MIL-OSI: Fusion Fuel Announces AGM Results: All Shareholder Proposals Approved

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, June 25, 2025 (GLOBE NEWSWIRE) — via IBN – Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of energy engineering, advisory, and utility solutions, today announced that all shareholder proposals were approved at the general meeting of shareholders held on June 25, 2025 (the “Annual General Meeting” or the “AGM”).

    This fulfills the Nasdaq requirement, as part of the Company’s delisting notice, to hold an Annual General Meeting. In addition, shareholder approval of the first proposal paves the way for a planned share consolidation (“Share Consolidation”) of the Company’s Class A Ordinary Shares (with a nominal value of $0.0001 per share) (the “Class A Ordinary Shares”) intended to raise the share price of the Class A Ordinary Shares above Nasdaq’s $1.00 minimum bid price requirement and position the Company to resolve this outstanding item. The Company plans to share details on the Share Consolidation and its timeline in the near future.

    John-Paul Backwell, CEO of Fusion Fuel, commented: “The AGM and the approval of all items mark another important step toward closing legacy issues and enabling management and the board of directors of the Company to focus on growth and delivering on the growth targets for the year. In particular, we look forward to continuing the strong trajectory of Al Shola Gas, advancing BrightHy Solutions, and executing on promising acquisition opportunities.”

    About Fusion Fuel Green PLC

    Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy supply, distribution, and engineering and advisory solutions through its Al Shola Gas and BrightHy brands. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, delivers innovative engineering and advisory services enabling decarbonization across hard-to-abate industries.

    Forward-Looking Statements

    This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, which are based on assumptions as to future events that may not prove to be accurate, and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Such forward-looking statements are subject to risks and uncertainties, including without limitation, those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission on May 9, 2025, which could cause actual results to differ from the forward-looking statements.

    Investor Relations Contact
    ir@fusion-fuel.eu
    www.fusion-fuel.eu

    Wire Service Contact:
    IBN
    Austin, Texas
    www.InvestorBrandNetwork.com
    512.354.7000 Office
    Editor@InvestorBrandNetwork.com

    The MIL Network

  • MIL-OSI: Micron Technology, Inc. Reports Results for the Third Quarter of Fiscal 2025

    Source: GlobeNewswire (MIL-OSI)

    Record revenue in fiscal Q3 with growth across end markets
    Fiscal Q4 revenue projected to grow another 15% sequentially

    BOISE, Idaho, June 25, 2025 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2025, which ended May 29, 2025.

    Fiscal Q3 2025 highlights

    • Revenue of $9.30 billion versus $8.05 billion for the prior quarter and $6.81 billion for the same period last year
    • GAAP net income of $1.89 billion, or $1.68 per diluted share
    • Non-GAAP net income of $2.18 billion, or $1.91 per diluted share
    • Operating cash flow of $4.61 billion versus $3.94 billion for the prior quarter and $2.48 billion for the same period last year

    “Micron delivered record revenue in fiscal Q3, driven by all-time-high DRAM revenue including nearly 50% sequential growth in HBM revenue. Data center revenue more than doubled year-over-year and reached a quarterly record, and consumer-oriented end markets had strong sequential growth,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “We are on track to deliver record revenue with solid profitability and free cash flow in fiscal 2025, while we make disciplined investments to build on our technology leadership and manufacturing excellence to satisfy growing AI-driven memory demand.”

    Quarterly Financial Results
    (in millions, except per share amounts) GAAP(1)   Non-GAAP(2)
    FQ3-25 FQ2-25 FQ3-24   FQ3-25 FQ2-25 FQ3-24
                   
    Revenue $ 9,301   $ 8,053   $ 6,811     $ 9,301   $ 8,053   $ 6,811  
    Gross margin   3,508     2,963     1,832       3,623     3,053     1,917  
    percent of revenue   37.7 %   36.8 %   26.9 %     39.0 %   37.9 %   28.1 %
    Operating expenses   1,339     1,190     1,113       1,133     1,046     976  
    Operating income   2,169     1,773     719       2,490     2,007     941  
    percent of revenue   23.3 %   22.0 %   10.6 %     26.8 %   24.9 %   13.8 %
    Net income   1,885     1,583     332       2,181     1,783     702  
    Diluted earnings per share   1.68     1.41     0.30       1.91     1.56     0.62  
                                           

    For the third quarter of 2025, investments in capital expenditures, net(2) were $2.66 billion and adjusted free cash flow(2) was $1.95 billion. Micron ended the quarter with cash, marketable investments, and restricted cash of $12.22 billion. On June 25, 2025, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on July 22, 2025, to shareholders of record as of the close of business on July 7, 2025.

    Business Outlook

    The following table presents Micron’s guidance for the fourth quarter of 2025:

    FQ4-25 GAAP(1)Outlook Non-GAAP(2)Outlook
    Revenue $10.7 billion ± $300 million $10.7 billion ± $300 million
    Gross margin 41.0% ± 1.0% 42.0% ± 1.0%
    Operating expenses $1.35 billion ± $20 million $1.20 billion ± $20 million
    Diluted earnings per share $2.29 ± $0.15 $2.50 ± $0.15
         

    Further information regarding Micron’s business outlook is included in the prepared remarks and slides, which have been posted at investors.micron.com.

    Investor Webcast

    Micron will host a conference call on Wednesday, June 25, 2025 at 2:30 p.m. Mountain Time to discuss its third quarter financial results and provide forward-looking guidance for its fourth quarter. A live webcast of the call will be available online at investors.micron.com. A webcast replay will be available for one year after the call. For Investor Relations and other company updates, follow us on X @MicronTech.

    About Micron Technology, Inc.

    We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, manufacturing, and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2025 Micron Technology, Inc. All rights reserved. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    Forward-Looking Statements

    This press release contains forward-looking statements regarding our technologies, demand for our products, our investments, our industry and our financial and operating results, including our expectations and guidance for the fourth quarter of 2025 and full fiscal year. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, including our most recent Form 10-K and our upcoming Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at investors.micron.com/risk-factor. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements to conform these statements to actual results.

    (1) GAAP represents U.S. Generally Accepted Accounting Principles.
    (2) Non-GAAP represents GAAP excluding the impact of certain activities, which management excludes in analyzing our operating results and understanding trends in our earnings, adjusted free cash flow, and business outlook. Further information regarding Micron’s use of non-GAAP measures and reconciliations between GAAP and non-GAAP measures are included within this press release.
       
    MICRON TECHNOLOGY, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In millions, except per share amounts)
    (Unaudited)
     
      3rd Qtr. 2nd Qtr. 3rd Qtr. Nine Months Ended
      May 29,
    2025
    February 27,
    2025
    May 30,
    2024
    May 29,
    2025
    May 30,
    2024
               
    Revenue $ 9,301   $ 8,053   $ 6,811   $ 26,063   $ 17,361  
    Cost of goods sold   5,793     5,090     4,979     16,244     14,485  
    Gross margin   3,508     2,963     1,832     9,819     2,876  
               
    Research and development   965     898     850     2,751     2,527  
    Selling, general, and administrative   318     285     291     891     834  
    Other operating (income) expense, net   56     7     (28 )   61     (267 )
    Operating income (loss)   2,169     1,773     719     6,116     (218 )
               
    Interest income   135     108     136     350     398  
    Interest expense   (123 )   (112 )   (150 )   (353 )   (426 )
    Other non-operating income (expense), net   (68 )   (11 )   10     (90 )   (24 )
        2,113     1,758     715     6,023     (270 )
               
    Income tax (provision) benefit   (235 )   (177 )   (377 )   (695 )   172  
    Equity in net income (loss) of equity method investees   7     2     (6 )   10     (11 )
    Net income (loss) $ 1,885   $ 1,583   $ 332   $ 5,338   $ (109 )
               
    Earnings (loss) per share          
    Basic $ 1.69   $ 1.42   $ 0.30   $ 4.79   $ (0.10 )
    Diluted   1.68     1.41     0.30     4.75     (0.10 )
               
    Number of shares used in per share calculations          
    Basic   1,118     1,115     1,107     1,114     1,104  
    Diluted   1,125     1,123     1,123     1,123     1,104  
    MICRON TECHNOLOGY, INC.
    CONSOLIDATED BALANCE SHEETS
    (In millions)
    (Unaudited)
     
    As of May 29,
    2025
    February 27,
    2025
    August 29,
    2024
           
    Assets      
    Cash and cash equivalents $ 10,163   $ 7,552   $ 7,041  
    Short-term investments   648     663     1,065  
    Receivables   7,436     6,504     6,615  
    Inventories   8,727     9,007     8,875  
    Other current assets   945     963     776  
    Total current assets   27,919     24,689     24,372  
    Long-term marketable investments   1,402     1,375     1,046  
    Property, plant, and equipment   44,773     42,528     39,749  
    Operating lease right-of-use assets   628     637     645  
    Intangible assets   426     423     416  
    Deferred tax assets   483     552     520  
    Goodwill   1,150     1,150     1,150  
    Other noncurrent assets   1,616     1,699     1,518  
    Total assets $ 78,397   $ 73,053   $ 69,416  
           
    Liabilities and equity      
    Accounts payable and accrued expenses $ 8,761   $ 6,176   $ 7,299  
    Current debt   538     504     431  
    Other current liabilities   836     1,197     1,518  
    Total current liabilities   10,135     7,877     9,248  
    Long-term debt   15,003     13,851     12,966  
    Noncurrent operating lease liabilities   600     599     610  
    Noncurrent unearned government incentives   603     836     550  
    Other noncurrent liabilities   1,308     1,257     911  
    Total liabilities   27,649     24,420     24,285  
           
    Commitments and contingencies      
           
    Shareholders’ equity      
    Common stock   126     126     125  
    Additional capital   12,960     12,711     12,115  
    Retained earnings   45,559     43,839     40,877  
    Treasury stock   (7,852 )   (7,852 )   (7,852 )
    Accumulated other comprehensive income (loss)   (45 )   (191 )   (134 )
    Total equity   50,748     48,633     45,131  
    Total liabilities and equity $ 78,397   $ 73,053   $ 69,416  
    MICRON TECHNOLOGY, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In millions)
    (Unaudited)
     
    Nine Months Ended May 29,
    2025
    May 30,
    2024
         
    Cash flows from operating activities    
    Net income (loss) $ 5,338   $ (109 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
    Depreciation expense and amortization of intangible assets   6,203     5,794  
    Stock-based compensation   722     620  
    Change in operating assets and liabilities:    
    Receivables   (123 )   (2,562 )
    Inventories   148     (125 )
    Other current assets   (206 )   (435 )
    Accounts payable and accrued expenses   38     846  
    Other current liabilities   (681 )   769  
    Other   356     304  
    Net cash provided by operating activities   11,795     5,102  
         
    Cash flows from investing activities    
    Expenditures for property, plant, and equipment   (10,199 )   (5,266 )
    Purchases of available-for-sale securities   (1,203 )   (1,110 )
    Proceeds from government incentives   1,294     267  
    Proceeds from maturities and sales of available-for-sale securities   1,249     1,433  
    Other   (30 )   (35 )
    Net cash used for investing activities   (8,889 )   (4,711 )
         
    Cash flows from financing activities    
    Proceeds from issuance of debt   4,430     999  
    Repayments of debt   (3,604 )   (1,816 )
    Payments of dividends to shareholders   (392 )   (384 )
    Payments on equipment purchase contracts       (127 )
    Other   (220 )   (40 )
    Net cash provided by (used for) financing activities   214     (1,368 )
         
    Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash   (3 )   (15 )
         
    Net increase (decrease) in cash, cash equivalents, and restricted cash   3,117     (992 )
    Cash, cash equivalents, and restricted cash at beginning of period   7,052     8,656  
    Cash, cash equivalents, and restricted cash at end of period $ 10,169   $ 7,664  
    MICRON TECHNOLOGY, INC.
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
    (In millions, except per share amounts)
     
      3rd Qtr. 2nd Qtr. 3rd Qtr.
      May 29,
    2025
    February 27,
    2025
    May 30,
    2024
           
    GAAP gross margin $ 3,508   $ 2,963   $ 1,832  
    Stock-based compensation   115     89     80  
    Other       1     5  
    Non-GAAP gross margin $ 3,623   $ 3,053   $ 1,917  
           
    GAAP operating expenses $ 1,339   $ 1,190   $ 1,113  
    Stock-based compensation   (148 )   (144 )   (137 )
    Patent license charges   (57 )        
    Other   (1 )        
    Non-GAAP operating expenses $ 1,133   $ 1,046   $ 976  
           
    GAAP operating income $ 2,169   $ 1,773   $ 719  
    Stock-based compensation   263     233     217  
    Patent license charges   57          
    Other   1     1     5  
    Non-GAAP operating income $ 2,490   $ 2,007   $ 941  
           
    GAAP net income $ 1,885   $ 1,583   $ 332  
    Stock-based compensation   263     233     217  
    Patent license charges   57          
    Loss on debt prepayments   46     4      
    Other   1         3  
    Estimated tax effects of above and other tax adjustments   (71 )   (37 )   150  
    Non-GAAP net income $ 2,181   $ 1,783   $ 702  
           
    GAAP weighted-average common shares outstanding – Diluted   1,125     1,123     1,123  
    Adjustment for stock-based compensation   19     20     13  
    Non-GAAP weighted-average common shares outstanding – Diluted   1,144     1,143     1,136  
           
    GAAP diluted earnings per share $ 1.68   $ 1.41   $ 0.30  
    Effects of the above adjustments   0.23     0.15     0.32  
    Non-GAAP diluted earnings per share $ 1.91   $ 1.56   $ 0.62  
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES, Continued
     
      3rd Qtr. 2nd Qtr. 3rd Qtr.
      May 29,
    2025
    February 27,
    2025
    May 30,
    2024
           
    GAAP net cash provided by operating activities $ 4,609   $ 3,942   $ 2,482  
           
    Expenditures for property, plant, and equipment   (2,938 )   (4,055 )   (2,086 )
    Payments on equipment purchase contracts           (45 )
    Proceeds from sales of property, plant, and equipment   12     7     41  
    Proceeds from government incentives   266     963     33  
    Investments in capital expenditures, net   (2,660 )   (3,085 )   (2,057 )
    Adjusted free cash flow $ 1,949   $ 857   $ 425  
     

    The tables above reconcile GAAP to non-GAAP measures of gross margin, operating expenses, operating income, net income, diluted shares, diluted earnings per share, and adjusted free cash flow. The non-GAAP adjustments above may or may not be infrequent or nonrecurring in nature but are a result of periodic or non-core operating activities. We believe this non-GAAP information is helpful in understanding trends and in analyzing our operating results and earnings. We are providing this information to investors to assist in performing analysis of our operating results. When evaluating performance and making decisions on how to allocate our resources, management uses this non-GAAP information and believes investors should have access to similar data when making their investment decisions. We believe these non-GAAP financial measures increase transparency by providing investors with useful supplemental information about the financial performance of our business, enabling enhanced comparison of our operating results between periods and with peer companies. The presentation of these adjusted amounts varies from amounts presented in accordance with U.S. GAAP and therefore may not be comparable to amounts reported by other companies. Our management excludes the following items as applicable in analyzing our operating results and understanding trends in our earnings:

    • Stock-based compensation;
    • Gains and losses from settlements;
    • Gains and losses from debt prepayments;
    • Restructure and asset impairments; and
    • The estimated tax effects of above, non-cash changes in net deferred income taxes, assessments of tax exposures, certain tax matters related to prior fiscal periods, and significant changes in tax law. The divergence between our GAAP and non-GAAP income tax provision relates to the difference in our GAAP and non-GAAP estimated annual effective tax rates, which are computed separately.

    Non-GAAP diluted shares are adjusted for the impact of additional shares resulting from the exclusion of stock-based compensation from non-GAAP income.

    MICRON TECHNOLOGY, INC.
    RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK
     
    FQ4-25   GAAP Outlook   Adjustments   Non-GAAP Outlook
                   
    Revenue $10.7 billion ± $300 million         $10.7 billion ± $300 million
    Gross margin 41.0% ± 1.0%   1.0%   A   42.0% ± 1.0%
    Operating expenses $1.35 billion ± $20 million   $147 million   B   $1.20 billion ± $20 million
    Diluted earnings per share(1) $2.29 ± $0.15   $0.21   A, B, C   $2.50 ± $0.15
    Non-GAAP Adjustments
    (in millions)
               
                   
    A Stock-based compensation – cost of goods sold   $ 119  
    B Stock-based compensation – research and development     93  
    B Stock-based compensation – sales, general, and administrative     54  
    C Tax effects of the above items and other tax adjustments     (27 )
                  $ 239  
    (1) GAAP earnings per share based on approximately 1.13 billion diluted shares and non-GAAP earnings per share based on approximately 1.15 billion diluted shares.
       

    The tables above reconcile our GAAP to non-GAAP guidance based on the current outlook. The guidance does not incorporate the impact of any potential business combinations, divestitures, additional restructuring activities, balance sheet valuation adjustments, strategic investments, financing transactions, and other significant transactions. The timing and impact of such items are dependent on future events that may be uncertain or outside of our control.

    The MIL Network

  • MIL-OSI: Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date June 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 25, 2025 (GLOBE NEWSWIRE) — At the end of the settlement date of June 13, 2025, short interest in 3,207 Nasdaq Global MarketSM securities totaled 13,689,191,607 shares compared with 13,504,275,894 shares in 3,184 Global Market issues reported for the prior settlement date of May 30, 2025. The mid-June short interest represents 2.32 days compared with 2.19 days for the prior reporting period.

    Short interest in 1,642 securities on The Nasdaq Capital MarketSM totaled 2,687,331,325 shares at the end of the settlement date of June 13, 2025, compared with 2,610,068,615 shares in 1,632 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period’s figure was 1.00.

    In summary, short interest in all 4,849 Nasdaq® securities totaled 16,376,522,932 shares at the June 13, 2025 settlement date, compared with 4,816 issues and 16,114,344,509 shares at the end of the previous reporting period. This is 1.72 days average daily volume, compared with an average of 1.54 days for the prior reporting period.

    The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.

    For more information on Nasdaq Short interest positions, including publication dates, visit
    http://www.nasdaq.com/quotes/short-interest.aspx
    or http://www.nasdaqtrader.com/asp/short_interest.asp.

    About Nasdaq:
    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.     

    Media Contact:
    Maximilian Leitenberger
    Maximilian.leitenberger@nasdaq.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/09311b3a-d30b-4a62-9548-112e12a51995

    NDAQO

    The MIL Network

  • MIL-OSI: Nasdaq Announces Mid-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date June 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 25, 2025 (GLOBE NEWSWIRE) — At the end of the settlement date of June 13, 2025, short interest in 3,207 Nasdaq Global MarketSM securities totaled 13,689,191,607 shares compared with 13,504,275,894 shares in 3,184 Global Market issues reported for the prior settlement date of May 30, 2025. The mid-June short interest represents 2.32 days compared with 2.19 days for the prior reporting period.

    Short interest in 1,642 securities on The Nasdaq Capital MarketSM totaled 2,687,331,325 shares at the end of the settlement date of June 13, 2025, compared with 2,610,068,615 shares in 1,632 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period’s figure was 1.00.

    In summary, short interest in all 4,849 Nasdaq® securities totaled 16,376,522,932 shares at the June 13, 2025 settlement date, compared with 4,816 issues and 16,114,344,509 shares at the end of the previous reporting period. This is 1.72 days average daily volume, compared with an average of 1.54 days for the prior reporting period.

    The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.

    For more information on Nasdaq Short interest positions, including publication dates, visit
    http://www.nasdaq.com/quotes/short-interest.aspx
    or http://www.nasdaqtrader.com/asp/short_interest.asp.

    About Nasdaq:
    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.     

    Media Contact:
    Maximilian Leitenberger
    Maximilian.leitenberger@nasdaq.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/09311b3a-d30b-4a62-9548-112e12a51995

    NDAQO

    The MIL Network

  • MIL-Evening Report: New climate reporting rules start on July 1. Many companies are not ready for the change

    Source: The Conversation (Au and NZ) – By Rachel Baird, Senior Lecturer , University of Tasmania

    PaeGAG/Shutterstock

    A new financial year starts on July 1. For Australia’s large companies, that means new rules on climate-related disclosures come into force.

    These requirements are the culmination of years of planning to ensure companies disclose climate-related risks and opportunities for their business. The Albanese government passed the legislation in September 2024.

    To be clear, the time to prepare is gone. From July 1, large public companies and financial institutions must gather significant amounts of information and data to include in a new year-end sustainability report. Collecting all this information is one challenge; another is finding the specialists across many fields to compile the reports.

    This is a huge change for corporate Australia. It is a whole new reporting regime, supported by volumes of technical detail. Directors will need to sign off on the report. Investors must also upskill to make sense of the disclosures. Neither of these outcomes is assured.

    And it is not clear the increased disclosures will do anything to reduce actual emissions.

    Climate impacts in focus

    Though it’s called a sustainability report, in reality it is very much focused on climate-related disclosures. If you go looking for wider sustainability matters such as social impact, environmental performance and ethical choices, you will be disappointed.

    Markets and ultimately the millions of Australians who hold shares will be watching to find out if:

    1. Corporate Australia is prepared for the transition to this new regulatory regime

    2. End users of the new reports are equipped to decipher and understand the huge amount of additional data.

    My research suggests the answer to both questions is a resounding no.

    Starting with the big end of town

    The government has wisely adopted a three-year transition for the new reporting regime, with only the big end of town facing the music this year. Think the big four banks, big supermarkets and large miners.

    Some large corporations have been publishing sustainability reports for years. National Australia Bank, for example, published its first one in 2017.

    Over the next two years, medium and then smaller companies will join the fold. By 2027–28, companies will be required to report if they meet two of three thresholds: consolidated revenue of A$50 million, or consolidated gross assets of $25 million, or more than 100 employees.

    The reasoning behind the transition is they have the benefit of watching how the larger companies adapt to the new laws.

    What has to be disclosed?

    Reporting entities must include:

    – climate statements for the year plus any notes, and

    – the directors’ declaration about these statements and notes

    This sounds rather simple and straightforward, but it is not.

    Arriving at a completed sustainability report involves an understanding of two detailed documents: the international standards and a new Australian Accounting Sustainability Standard.

    The Australian standards are mandatory and based on the international rules. In broad terms, companies will be required to gather and disclose information on many micro-level issues, which are grouped into four categories. These are: governance, strategy, risk management, and metrics and targets.

    Some issues will straddle all four categories.

    For example, the physical risk of climate change (floods, uninsurable properties, supply chain disruption) can be considered at the board level and in dedicated climate committees (goverance); in planning for alternative supply chains in a climate transition plan (strategy); in risk assessment (risk management) and in data prediction of the costs involved (metrics and targets).

    The big challenge for corporate Australia is that the people, expertise and time required to deliver a sustainability report are in short supply.

    More than a quarter of ASX 200 companies do not use the international standards. This means they are not positioned to adapt to the new reporting regime. Even for those that have been early adopters, there has been selective use of the four categories.

    For the smaller companies that will follow the first reporting year, the stakes are high.

    More information is not always better

    The amount of new information (much of it technical) to be disclosed will be overwhelming for the producers of the sustainability reports – and for the readers, whether they are institutional or mum-and-dad investors.

    The cost of collecting and making sense of the data required to meet detailed reporting requirements will lead to many companies being swamped in data. More data collected does not equal better data.

    Deciding what data to collect and then making sense of it so it supports disclosures will be a major headache for most companies.

    The new climate disclosure rules will have a profound impact on corporate Australia. There is a significant gap in capacity and capability to meet the requirements of the new reporting regime. And there is a corresponding need to educate the readers of these new reports to make effective use of the disclosed information.

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

    ref. New climate reporting rules start on July 1. Many companies are not ready for the change – https://theconversation.com/new-climate-reporting-rules-start-on-july-1-many-companies-are-not-ready-for-the-change-258706

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: 500,000 Australians live with mental illness but don’t qualify for the NDIS. A damning new report says they need more support

    Source: The Conversation (Au and NZ) – By Sebastian Rosenberg, Associate Professor, Health Research Institute, University of Canberra, and Brain and Mind Centre, University of Sydney

    stellalevi/Getty

    Half a million Australians are living with moderate to severe mental illness, but they don’t qualify for the National Disability Insurance Scheme (NDIS) and cannot access the support they need.

    In a damning report released on Tuesday, the Productivity Commission says addressing this gap must be an urgent priority for all governments.

    The commission is currently reviewing the Mental Health and Suicide Prevention Agreements, signed by the federal government and each state and territory. They aim to improve the community’s mental health and reduce suicide.

    The commission has found little progress, calling the agreements “not fit for purpose”.

    So, how did we get here? And what should happen next?

    More than a lack of funding

    In 1992, the year of Australia’s first national mental health policy, 7.25% of the total health budget was allocated to mental health. In 2022-23, it was still only 7.31%.

    Yet, mental health and drug and alcohol issues account for nearly 15% of Australia’s total burden of disease. While mental health remains woefully underfunded, it is hard to expect much change.

    However, the commission’s main criticism isn’t about funding – it’s about the fragmented way mental health is tackled and the failure of federal and state governments to work together.

    While the agreements may have set out “what to do”, the report says they have failed to describe how change should happen.

    This lack of specific objectives, goals and targets has prevented national mental health reform at the scale required.

    Psychosocial supports

    The report says addressing the lack of psychosocial supports outside the NDIS – a gap that affects 500,000 Australians – must be an urgent priority for states, territories and the federal government.

    Psychosocial supports are non-clinical services for people experiencing mental illness that enable them to live independently and safely in the community.

    For decades, community and charitable organisations have provided these support services in Australia. They can connect people with mental illness to health, housing, employment, education or other community services. This helps people socialise and maintain relationships and daily living skills.

    There is already very strong Australian evidence that psychosocial support services can help people recover from even severe mental illness, improve their quality of life, provide earlier intervention and reduce the burden on hospital-based mental health care.

    Yet, Australia has never adequately funded psychosocial care.

    In 1992, these services received just under 2% of total spending on mental health by the states and territories. In 2022-23, it was 6%.

    The ‘missing middle’

    The lack of psychosocial services, and of community-based mental health care more broadly, is one of the key gaps in Australia’s existing mental health system, giving rise to the term “the missing middle”. This describes people with needs too complex for primary care (such as general practice), but not urgent enough to warrant hospital admission.

    The introduction of the NDIS failed to arrest this gap – and may have made it worse. The scheme was only ever designed to provide support to 64,000 Australians with the most severe, enduring, psychosocial disability.

    In providing funds to set up the NDIS, the federal government, in fact, closed some psychosocial programs it had only recently begun, such as Partners in Recovery and Personal Helpers and Mentors. State and territory funding for psychosocial services was already extremely limited, but they, too, withdrew some community-based supports.

    The neglect of psychosocial services fits into a broader pattern that affects all community mental health services because responsibility for mental health is split.

    The federal government manages primary mental health services, mostly provided by GPs and psychologists under Medicare. Meanwhile, state and territory governments focus on hospital-based, emergency, acute inpatient and outpatient services.

    Currently, nobody is responsible for community mental health care. No wonder these “secondary” services, both clinical and psychosocial, have failed to flourish.

    What’s next?

    The Productivity Commission’s interim report rightly recommends Australia urgently address this gap in psychosocial care.

    Governments are now considering a “foundational supports” funding stream, which would provide psychosocial services for people outside the NDIS.

    However, in 2020, the Productivity Commission found our mental health system to be fragmented and disorganised. Just adding one more funding stream or program to this environment probably won’t help.

    Before considering who funds what, real mental health reform should be based on a clear map that lays out how our mental health system should be organised and the respective role of medical, clinical and psychosocial care in that system.

    Where does the evidence indicate people should go for care? What services should they receive? And what should happen next if their mental health improves or declines?

    This kind of system-wide map can guide investments and prioritise reform, region by region. This would properly put the person, not the funders, at the centre of care.

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

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

    ref. 500,000 Australians live with mental illness but don’t qualify for the NDIS. A damning new report says they need more support – https://theconversation.com/500-000-australians-live-with-mental-illness-but-dont-qualify-for-the-ndis-a-damning-new-report-says-they-need-more-support-259549

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Global: How Israel’s domestic crises and Netanyahu’s aim to project power are reshaping the Middle East

    Source: The Conversation – Canada – By Spyros A. Sofos, Assistant Professor in Global Humanities, Simon Fraser University

    Israel’s recent strikes on Iranian territory have been widely framed as an act of deterrence or yet another episode in a protracted regional rivalry.

    Such interpretations overlook the deeper motivations behind Israel’s actions.

    As a global humanities scholar who specializes in Middle Eastern politics, I believe the world is watching the convergence of a domestic political crisis and a profound strategic shift as Israel evolves into a more aggressive entity in a fragmented international order.

    Political survival

    At the centre of Israel’s current strategic turn lies Prime Minister Benjamin Netanyahu — a beleaguered leader fighting for political survival, but also considered a calculating, opportunistic operator with a particular vision of the Middle East.

    At home, Netanyahu, confronting an unprecedented convergence of challenges — multiple corruption indictments, mass protests against what many consider a self-serving judicial overhaul and a fragile governing coalition — has leaned into military escalation as both a defensive reflex and a political instrument. He’s seemingly deploying it to both mute dissent at home and assert control abroad.

    Israelis opposed to Prime Minister Benjamin Netanyahu’s judicial overhaul plan set up bonfires and block a highway during a protest in March 2023.
    (AP Photo/Ohad Zwigenberg)

    But Netanyahu’s ambitions appear to extend beyond his immediate political survival. He seems to be striving for a legacy-defining “1967 moment” — a transformative reordering of the regional landscape in the Middle East that sidelines the Palestinian issue and entrenches Israeli supremacy.

    This dual imperative — domestic survival and amassing power in the region — likely shapes Netanyahu’s recent actions, including the strike on Iran, the expanded occupation of Syrian territory, the October 2024 attack on Lebanon and the ongoing assaults on Gaza and the West Bank.

    By describing each military campaign as a reluctant necessity — forced upon him by Iran, Hamas or even his coalition hardliners — Netanyahu maintains public support as he consolidates power. His government has used war-time conditions to suppress public protest, push forward its radical constitutional agenda and advance his geopolitical vision.

    The result is a volatile but calculated strategy that is likely to mark Netanyahu’s tenure, though with significant repercussions for regional stability.

    Israel’s grand strategy

    While Netanyahu’s actions could serve his immediate political ends, they also reflect a longer-term shift in Israeli grand strategy. Following the Oct. 7, 2023 Hamas attacks, Israel intensified a long-standing pattern of pre-emptive strikes and campaigns to neutralize its adversaries. This strategy has been pursued at an unprecedented scale in Gaza, but often without a clearly articulated political endgame.

    This pattern echoes a regional policy doctrine Netanyahu laid out in his 1993 book A Place Among the Nations when he asserted “the only peace that will endure in the region is the peace of deterrence.”

    This policy advocates the projection of overwhelming Israeli power, the emasculation of regional challengers and efforts to radically reorder the Middle East.

    Netanyahu’s doctrine, a more aggressive revision of Israel’s earlier pre-emptive security traditions, stands in sharp contrast to the approach pursued by the Oslo Accords-era leadership of the 1990s and 2000s — figures such as Yitzhak Rabin, Shimon Peres, and later Ehud Barak.

    They emphasized diplomacy over coercive leverage and perpetual confrontation. They sought genuine political settlements and a negotiated co-existence with Palestinians and neighbouring Arab states. This strategy — rooted in compromise and limited reconciliation — has now been decisively eclipsed by Netanyahu’s highly militarized approach and his vision for achieving strategic power in the Middle East.

    This approach underpins all of Israel’s modern-day actions — from its reoccupation of parts of Lebanon to its growing military footprint in Syrian territory, the obliteration of Gaza, its aggression against Iran and the increasing calls for Iranian regime change from the current Israeli cabinet.

    From buffer to power projection

    Nowhere is this clearer than in Israel’s expanding operations across its northern front. In Syria, Israel seized upon the post-Bashar al-Assad vacuum to entrench military control over at least 12 square kilometres of new terrain, constructing infrastructure and outposts far beyond prior ceasefire lines.

    This had less to do with protecting minority populations or deterring Iranian proxies — as officials claimed — and more with establishing long-term buffer zones and projecting dominance into a fragile post-war Syria.

    A similar pattern is evident in Lebanon. Following months of border escalation, Israel has sought not only to undermine Hezbollah’s capacity but to create no-go zones controlled by the Israeli military along the frontier. These operations reflect older strategic instincts but are now integrated in the ongoing process of Israel’s northern border redesign.

    Finally, Israel’s bombing campaign against Iran reflects a doctrine to move beyond containment toward strategic dismantlement of the Iranian regime’s regional power and to erode its ability to control its own territory.

    The escalation is the outcome of Israel’s pursuit of a favourable regional moment — the weakening of the so-called “Axis of Resistance” following the Abraham Accords of 2020 aimed at establishing diplomatic relations between Israel and several Arab nations — and months of war in Lebanon and Syria.

    From ‘western ally’ to regional challenger

    A constellation of domestic and international changes has enabled Israel’s transformation.

    These include a shift in Israeli political culture encouraged by Netanyahu’s rejection of efforts to pursue some sort of regional co-existence and co-operation; the far right’s growing influence in government; and the ongoing disruption of the international order amid Donald Trump’s second presidency in the United States that gave Israel more room to manoeuvre.

    This constellation has eroded the few constraints the liberal international order had in the past imposed on Israel’s pursuit of its regional policies amid an era of expansionism, permanent conflict and the aggressive management — not resolution — of the Palestinian issue.

    Israel is now heading down the same path as Russia and Turkey, capitalizing on vast disparities in military and intelligence capabilities among regional powers to its advantage, disregarding international norms, undermining diplomacy and preferring transactional alliances instead of long-term peace processes.

    The U.S. has facilitated this transformation. Former president Joe Biden and now Trump have made very little effort to constrain Netanyahu.

    Trump’s “Gaza Riviera” plan, along with his isolationist rhetoric, have effectively left regional decision-making to Israel while he continues to underwrite Israeli military dominance and its use of overwhelming force to reshape its regional environment.




    Read more:
    Why Israel and the U.S. are sure to encounter the limits of air power in Iran


    Netanyahu’s reluctance to accept the current ceasefire as a definitive end to hostilities with Iran reveals his and his cabinet’s regional revisionist reflexes.

    Broader regional destabilization lies ahead as Israel seeks to destroy threats with immense military power without any strategic foresight.

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

    ref. How Israel’s domestic crises and Netanyahu’s aim to project power are reshaping the Middle East – https://theconversation.com/how-israels-domestic-crises-and-netanyahus-aim-to-project-power-are-reshaping-the-middle-east-259359

    MIL OSI – Global Reports

  • MIL-OSI Global: What is reconciliation − the legislative shortcut Republicans are using to push through their ‘Big Beautiful Bill’?

    Source: The Conversation – USA – By Linda J. Bilmes, Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance, Harvard Kennedy School

    Senate Majority Leader John Thune speaks with reporters about the reconciliation process to advance President Donald Trump’s spending and tax bill on June 3, 2025. AP Photo/J. Scott Applewhite

    The word “reconciliation” sounds benign, even harmonious.

    But in Washington, D.C., reconciliation refers to a potent legislative shortcut that allows the party in power to avoid opposition and enact sweeping changes to taxes and spending with a simple majority vote. Democrats used the process to pass the Inflation Reduction Act in 2022. Reconciliation helped Republicans pass large tax cuts in 2017.

    Reconciliation is also at the heart of the current budget debate, as Senate Republicans rush to advance their version of the “One Big Beautiful Bill Act,” also known by its acronym OBBBA, which passed the House in May 2025.

    I served as assistant secretary of Commerce for management and budget during the Clinton administration, when my colleagues and I helped forge bipartisan legislation that balanced the federal budget and produced surpluses over four years, from 1998 to 2001. We were even able to pay off some debt.

    But since 2001, the country’s fiscal situation has deteriorated significantly. And the reconciliation process has strayed from its original purpose as a mechanism to promote sound fiscal policy. Instead, it is now used to pass partisan legislation, often without regard to its economic impact on future generations of Americans.

    Reconciliation 101

    The reconciliation process was created by the Congressional Budget Act of 1974, which was overwhelmingly supported by both parties. It was designed to align policy goals with budget targets to help rein in deficits.

    The rules specify that a bill using the reconciliation process must pertain directly to budgetary or fiscal matters, cannot change Social Security, Medicare or the budget process itself, or deliberately extend deficits beyond a 10-year window. As part of the process, the parliamentarian goes through each element of the bill and determines whether it meets the requirements, removing any that don’t.

    In the Senate, reconciliation has special procedural advantages. Debate is limited to 20 hours. Conveniently for the party in power, the final bill can pass with a simple majority of 51 votes. This avoids the usual 60-vote threshold needed to overcome a filibuster.

    Over its 50-year history, 23 reconciliation bills have become law.

    Reconciliation on rise as budget process breaks down

    Over time, reconciliation has become the dominant method for enacting major tax and spending legislation, as the regular congressional budget process has broken down.

    Since 1974, there have been multiple government shutdowns, near-shutdowns and short-term, stopgap “continual resolutions” instead of annual budgets, accompanied by rising deficits and national debt.

    With few other tools at its disposal, Congress has used reconciliation to push through many pieces of major economic legislation, including the 2001 and 2003 tax cuts under President George W. Bush, the 2017 tax cuts during President Donald Trump’s first term, and the American Rescue Plan in 2021 and the Inflation Reduction Act in 2022 during the Biden administration.

    However, reconciliation has significant flaws. Because debate is limited, senators often vote on bills over 1,000 pages long with little time to review the details. And once tax cuts are enacted under reconciliation, it is devilishly hard to get rid of them.

    Given the compressed timelines and lack of transparency inherent in such huge, messy spending bills, it is fairly easy for lawmakers to slip in earmarks, tax loopholes and other extraneous items that that don’t get removed by the parliamentarian.

    House Minority Leader Hakeem Jeffries argues Republicans’ spending and tax bill will ‘explode the deficit.’
    AP Photo/J. Scott Applewhite

    What’s in the bill?

    At the heart of the One Big Beautiful Bill Act, passed by the House, is an extension of President Trump’s tax cuts from his first term, which would otherwise expire at the end of 2025, according to the procedural rules for reconciliation.

    But it also includes multiple new tax cuts – such as an end to taxes on overtime and tips and lower estate taxes – introduces new Medicaid work requirements and repeals various energy credits. In line with the Trump administration’s policies, the bill slashes federal funding for education, Medicaid, public housing, environmental programs, scientific research and some national park and public land protection programs. It also boosts defense spending.

    The bill would sharply worsen the nation’s fiscal outlook, according to analyses by the nonpartisan Congressional Budget Office and other organizations.

    Currently, the national debt exceeds US$36 trillion, according to the U.S. Treasury, and net interest payments account for some 16% of federal revenue, based on the Congressional Budget Office’s projections for 2025.

    In its analysis, the Congressional Budget Office – which was also created by the 1974 act – said the House-passed version would increase deficits by more than $3.1 trillion over the next decade. The overwhelming share of this cost comes from the permanent extension of individual tax cuts initially enacted in 2017.

    According to the Congressional Budget Office’s analysis, by 2035 households earning at least $1 million would receive an average annual tax cut of about $45,000. Most middle- and lower-income households would receive a cut of less than $500 per year, if anything.

    The costs of reconciliation

    A number of Senate Republicans have questioned some aspects of the reconciliation package. Since they hold only a 53-47 majority, and with all Democrats expected to vote “no,” they need to use reconciliation to pass their version.

    Although it differs from the House version in many ways, the Senate version still favors tax cuts for high-income households and large corporations.

    Senate Republicans also employ a flawed accounting gimmick to minimize its apparent cost. It assumes the 2017 Trump tax cuts, which are set to expire, have already been extended and embeds that assumption into the budget baseline.

    This makes extending the tax cuts appear costless, even though it would grow the debt substantially. The move violates normal scorekeeping conventions and misleads the public. Honest accounting would show that the Senate plan would add to the debt about $500 billion more than the House version.

    Abusing the process

    Lots of wrangling and changes are expected before the Senate is able to pass its version. After that, the House and Senate will need to resolve their differences in a conference committee of Republicans from each house of Congress.

    Once they agree on a final version, each house votes again – and the Senate version will still need to meet the terms of reconciliation in order to pass with a majority vote. President Trump is pressuring Congress to deliver the bill to his desk before he goes on July Fourth vacation.

    In my view, while reconciliation remains a powerful budgetary tool, its current use represents a fundamental inversion of its original purpose. Americans deserve an honest debate about trade-offs, rather than more debt in disguise. Some estimates of the fiscal impact of the Senate’s version of the bill are as high as $3.8 trillion over a decade. Simply waving a magic accounting wand won’t make them go away.

    Linda J. Bilmes served as Deputy Assistant Secretary of the US Department of Commerce from 1997-1998 and as CFO and Assistant Secretary for Management, Budget and Administration from 1999-2001.

    ref. What is reconciliation − the legislative shortcut Republicans are using to push through their ‘Big Beautiful Bill’? – https://theconversation.com/what-is-reconciliation-the-legislative-shortcut-republicans-are-using-to-push-through-their-big-beautiful-bill-255487

    MIL OSI – Global Reports

  • MIL-OSI USA: Congressman Russell Fry (SC-07) Introduces Bill to Supercharge American Energy Infrastructure and Support Domestic Manufacturing

    Source:

    Congressman Russell Fry (SC-07) Introduces Bill to Supercharge American Energy Infrastructure and Support Domestic Manufacturing

    Washington, D.C. – Today, Congressman Russell Fry (SC-07) and Congresswoman Sharice Davids (KS-03) introduced the Credit Incentives for Resilient Critical Utility Infrastructure and Transformers (CIRCUIT) Act, legislation to retool the 45X tax credit to include distribution transformers in order to encourage domestic production.

    Distribution transformers are critical components needed to strengthen America’s electric grid and secure energy dominance, but they are currently in short supply. With increasing pressure on distribution transformer manufacturers due to rising energy demand and concerns about grid reliability, Congressman Fry introduced this bill to provide targeted support that will boost domestic production and ensure a more reliable power infrastructure.

    To facilitate increased production, this bill would expand the advanced manufacturing production credit (Section 45X) under the Internal Revenue Code to include distribution transformers, help address national shortages, ease supply chain bottlenecks, and reduce dependence on foreign suppliers.

    There is no path to American energy independence without a reliable, resilient electric grid—and that starts with distribution transformers,” said Congressman Fry. “President Trump is right: we need more energy online—but that energy is no good if it can’t be distributed across our grid. The CIRCUIT Act ensures we support the manufacturers producing the components our grid needs to grow, while protecting American jobs and advancing President Trump’s pro-energy, pro-manufacturing agenda. This is a win for South Carolina, a win for American jobs, and a win for energy security nationwide.”

    “Supply chain disruptions are driving up costs and slowing down projects in Kansas and across the country—and one of the best ways to fix it is by making more right here at home,” said Congresswoman Davids. “By incentivizing domestic businesses to produce important technologies, this bipartisan bill will help bring down costs, reduce construction wait times, and improve electric grid reliability. I’m proud to work across the aisle with Representative Fry to strengthen our supply chains and lower housing costs for hardworking folks.”

    This legislation is supported by the National Electrical Manufacturers Association (NEMA), the American Public Power Association, and the National Rural Electric Cooperative Association.

    NEMA welcomes the introduction of this critical legislation in the House,” said NEMA President and CEO Debra Phillips. “The bipartisan CIRCUIT Act will expand the list of entities included in the Advanced Manufacturing Tax Credit (45X) to include distribution transformers that are essential to building a reliable electrical grid. This will ease supply chain constraints and provide manufacturers with the certainty to scale onshoring and domestic production without fear of demand instability. We thank Reps. Russell Fry (R-SC) and Sharice Davids (D-KS) for their leadership to support our nation’s critical infrastructure and we encourage Congress to support new incentives for domestic transformer capacity such as through the CIRCUIT Act.”

    This is the companion bill to the Senate’s CIRCUIT Act, introduced by Senators Jerry Moran (R-KS) and Catherine Cortez Masto (D-NV).

    Read the full text of the bill here.

    Congressman Fry serves on both the House Energy and Commerce Committee and the House Judiciary Committee. To stay up to date with Congressman Fry and his work for the Seventh District, follow his official Facebook, Instagram, and X pages and visit his website at fry.house.gov.

    MIL OSI USA News

  • MIL-OSI USA: Congressman Russell Fry (SC-07) Introduces Bill to Supercharge American Energy Infrastructure and Support Domestic Manufacturing

    Source:

    Congressman Russell Fry (SC-07) Introduces Bill to Supercharge American Energy Infrastructure and Support Domestic Manufacturing

    Washington, D.C. – Today, Congressman Russell Fry (SC-07) and Congresswoman Sharice Davids (KS-03) introduced the Credit Incentives for Resilient Critical Utility Infrastructure and Transformers (CIRCUIT) Act, legislation to retool the 45X tax credit to include distribution transformers in order to encourage domestic production.

    Distribution transformers are critical components needed to strengthen America’s electric grid and secure energy dominance, but they are currently in short supply. With increasing pressure on distribution transformer manufacturers due to rising energy demand and concerns about grid reliability, Congressman Fry introduced this bill to provide targeted support that will boost domestic production and ensure a more reliable power infrastructure.

    To facilitate increased production, this bill would expand the advanced manufacturing production credit (Section 45X) under the Internal Revenue Code to include distribution transformers, help address national shortages, ease supply chain bottlenecks, and reduce dependence on foreign suppliers.

    There is no path to American energy independence without a reliable, resilient electric grid—and that starts with distribution transformers,” said Congressman Fry. “President Trump is right: we need more energy online—but that energy is no good if it can’t be distributed across our grid. The CIRCUIT Act ensures we support the manufacturers producing the components our grid needs to grow, while protecting American jobs and advancing President Trump’s pro-energy, pro-manufacturing agenda. This is a win for South Carolina, a win for American jobs, and a win for energy security nationwide.”

    “Supply chain disruptions are driving up costs and slowing down projects in Kansas and across the country—and one of the best ways to fix it is by making more right here at home,” said Congresswoman Davids. “By incentivizing domestic businesses to produce important technologies, this bipartisan bill will help bring down costs, reduce construction wait times, and improve electric grid reliability. I’m proud to work across the aisle with Representative Fry to strengthen our supply chains and lower housing costs for hardworking folks.”

    This legislation is supported by the National Electrical Manufacturers Association (NEMA), the American Public Power Association, and the National Rural Electric Cooperative Association.

    NEMA welcomes the introduction of this critical legislation in the House,” said NEMA President and CEO Debra Phillips. “The bipartisan CIRCUIT Act will expand the list of entities included in the Advanced Manufacturing Tax Credit (45X) to include distribution transformers that are essential to building a reliable electrical grid. This will ease supply chain constraints and provide manufacturers with the certainty to scale onshoring and domestic production without fear of demand instability. We thank Reps. Russell Fry (R-SC) and Sharice Davids (D-KS) for their leadership to support our nation’s critical infrastructure and we encourage Congress to support new incentives for domestic transformer capacity such as through the CIRCUIT Act.”

    This is the companion bill to the Senate’s CIRCUIT Act, introduced by Senators Jerry Moran (R-KS) and Catherine Cortez Masto (D-NV).

    Read the full text of the bill here.

    Congressman Fry serves on both the House Energy and Commerce Committee and the House Judiciary Committee. To stay up to date with Congressman Fry and his work for the Seventh District, follow his official Facebook, Instagram, and X pages and visit his website at fry.house.gov.

    MIL OSI USA News

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Commend San Marino on Aligning Citizenship Rights with International Standards, Ask about Temporary Special Measures and Incentives to Encourage Female Employment

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today concluded its consideration of the combined first to fifth periodic reports of San Marino, with Committee Experts commending the State party on ensuring equal transmission of citizenship for maternal and paternal lines, while raising questions on temporary special measures and incentives to promote female employment.

    One Committee Expert commended the State party for the efforts and improvements made to align citizenship rights of a small landlocked nation with international standards, ensuring that the rules for transmission of citizenship for maternal and paternal lines were now aligned.

    A Committee Expert asked what kind of temporary special measures were already implemented in legislation and in the judicial branch?  What temporary special measures had been adopted in the area of parity to achieve increased representation of women?  Were there any examples of positive discrimination for women in fields such as the military?  Another Expert said there was an ongoing debate in the country about how to enforce the political participation of women in San Marino.  How did San Marino plan to achieve parity in public life. 

    One Committee Expert asked what was being done to facilitate women’s return to employment? Was there a wage gap?  Could more information be provided regarding measures to increase work life balance and incentivise employers to employ women? 

    On temporary special measures, the delegation said measures to guarantee women’s political life in the country were linked to two laws.  Women made up 50 per cent of the public administration.  Women’s representation within the judiciary was fully granted; a few years ago, the President of the San Marino court was a woman. San Marino did not intend to use the instrument of quotas again, as the results did not justify its existence, and the quotas were intended to be a temporary measure. 

    The delegation said San Marino had been providing incentives for female employment for several years, including that employers would pay less tax for female workers. As of 2025, the labour force in San Marino was better balanced, with the gender gap reduced.  If a female worker had a child and wished to return to work, she could transform her contract into one that was parttime.  This was a key provision which would help women balance their professional and private lives. 

    Introducing the report, Marcello Beccari, Permanent Representative of San Marino to the United Nations Office at Geneva, said significant progress had been made to combat gender-based violence in recent years.  On 29 October 2024, the Congress of State adopted delegated decree no. 161 on amendments to law no. 97 of 20 June 2008 – prevention and repression of violence against women and gender violence – and subsequent amendments and to the Criminal Code, which aimed to ensure a more effective system of prevention, protection and support for victims of violence.  In particular, the definition of violence against women and gender-based violence was rephrased.  The Authority for Equal Opportunities was responsible for keeping and disseminating data on gender-based violence.

    In closing remarks, Mr. Beccari thanked the Committee for the dialogue which had enabled the State to review the legislation and all areas where discrimination against women could occur.  The institutions of San Marino were actively engaged in the implementation of the Convention.

    In her closing remarks, Marianne Mikko, Committee Vice-Chair, thanked the delegation of San Marino for the constructive dialogue, which had provided further insight on the situation of women in the country. 

    The delegation of San Marino was comprised of representatives of the Ministry of Justice; the Ministry of Employment; the Department of Foreign Affairs; the Department of Institutional and Internal Affairs; the Department of Health and Social Security; the Department of Education and Culture; the Office of the French Border; the Single Court; the Gendarmerie Corp; the Office for Gender Violence and Minors; the Authority for Equal Opportunities; and the Permanent Mission of San Marino to the United Nations Office at Geneva.

    The Committee on the Elimination of Discrimination against Women’s ninety-first session is being held from 16 June to 4 July.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet at 10 a.m. on Thursday, 26 June to begin its consideration of the fifth periodic report of Chad (CEDAW/C/TCD/5).

    Report

    The Committee has before it the the combined initial to fifth periodic reports of San Marino (CEDAW/C/SMR/1-5).

    Presentation of Report

    MARCELLO BECCARI, Permanent Representative of San Marino to the United Nations Office at Geneva, said the ratification of the Convention in 2003 had been long-awaited by San Marino society, in light of the undeniable steps forward that the country had made since the 1960s.  Unfortunately, women’s rights in San Marino had been denied for centuries: women had had, de jure and de facto, a position inferior to that of men.  San Marino women exercised their voting right for the first time only in 1964, and it was only in 1974 that they could be elected in the general elections and become members of the San Marino Parliament. 

    At the end of the 1990s, a serious discrimination experienced by San Marino women persisted: only men could transmit San Marino citizenship, which made it impossible for the children of a San Marino woman to become San Marino citizens if the father was not a San Marino citizen.  This discrimination was finally eliminated in 2000.  It was only at this time that the country aligned its legal system with the requirements of the Convention. 

    Significant progress had been made to combat gender-based violence in recent years. On 29 October 2024, the Congress of State adopted delegated decree no. 161 on amendments to law no. 97 of 20 June 2008 – prevention and repression of violence against women and gender violence – and subsequent amendments and to the Criminal Code, which aimed to ensure a more effective system of prevention, protection and support for victims of violence.  In particular, the definition of violence against women and gender-based violence was rephrased.  The Authority for Equal Opportunities was responsible for keeping and disseminating data on gender-based violence.  The data was provided by all the institutions that come into contact with women victims of violence, including the courts, the mental health service and the counselling centre, the Minors’ Protection Service, and all three police forces. 

    San Marino authorities recently implemented comprehensive policies with the adoption of two national plans for the prevention of gender-based violence, including all competent institutional and civil society actors: the comprehensive national plan to combat violence against women 2024–2026, and the multi-year national plan on the elimination of violence and harassment and discrimination in the world of work to implement International Labour Organization Convention no.190 on the elimination of violence and harassment in the world of work.  The 24-hour on-call service of Social Workers and Psychologists was introduced and regulated, and the Emergency Centre was set up, where victims, including those with children, could receive psychosocial, health and legal assistance. 

    Every year on the occasion of the International Day for the Elimination of Violence against Women, San Marino organised numerous meetings and initiatives to raise awareness, including a recent media campaign “the new languages of violence”.  The University of San Marino organised compulsory vocational training courses annually for a wide range of professionals, including magistrates, police forces, professional associations, socio-health services, school staff and family mediators.  The University also actively collaborated with schools to foster an innovative and inclusive educational approach.

    An initiative speared by civil society, the law regulating civil registered partnerships (law no. 147 of 20 November 2018), allowed same-sex couples to obtain a form of legal recognition of their relationship equivalent to marriage. Another action which originated from civil society was the Referendum for the decriminalisation and legalisation of the voluntary termination of pregnancy in February 2021.  One year after the historic overwhelming result which saw more than 77 per cent of San Marino citizens vote in favour of decriminalising abortion, the San Marino Parliament approved law no. 147 of 7 September 2022 regulating voluntary termination of pregnancy.  This law contained the necessary amendments to the Criminal Code for both the decriminalisation of the act and the protection of the procedure.

    Despite the progress that had been made in recent years, some challenges persisted in San Marino in the area of elimination of discrimination against women, particularly when it came to eliminating gender stereotypes.  Mr. Beccari said he would ensure the dialogue was open, useful and fruitful. 

    Questions by a Committee Expert

    ERIKA SCHLÄPPI, Committee Expert and Country Rapporteur, said this was the first report submitted by the State party.  It was regretful that no reports had been received from civil society. Were the Convention’s provisions directly applicable in San Marino?  Were they referred to in practice in the courts?  What had been done to raise the visibility of the Convention?  Were there any plans to revise article 4 paragraph 1 of the San Marino Constitution to include other forms of discrimination, including gender identity?  Were there plans to introduce a body of laws preventing discrimination in the private and public spheres?  How did the San Marino authorities integrate a gender perspective in the legislative process? 

    What legal procedures could women currently use for submitting complaints about discriminatory acts?  What were the possible barriers for women to make use of existing legal remedies?  How were judges and lawyers trained to ensure gender equality in administrative procedures?  The Committee was concerned about the lack of disaggregated data in San Marino.  It was welcomed that authorities were considering taking measures to improve the data collections system.  What were the plans to improve data collection in the areas of gender equality? What were the timelines?  Did the State plan to enact a comprehensive law to prohibit discrimination?   

    Responses by the Delegation 

     

    The delegation said civil society organizations were informed about the drafting report and had several opportunities to get in touch.  Work had been carried out on the report with the San Marino Union for Women. Women’s rights were a topic close to the heart of San Marino citizens.  The Authority for Equal Opportunities conducted important work on the issue of violence against women.  The data on cases of violence was quite thorough.  San Marino was going through a process to join the European Union and it was hoped that once they had joined, a body on data gathering could be established. Data gathering was currently a weak point for the State and they would appreciate any specific advice from the Committee in this regard. 

    Work was underway to create a statistical body, and in the meantime, an office was charged with data collection and gathering.  Article 4 contained a list of protections which was not exhaustive.  This was to simplify the way such protection was worded. The Convention was fully applicable to San Marino’s legal body.  The State had signed the Istanbul Convention.  Women who were victims of violence could directly submit a complaint to the police, which would be passed on to the court.  There were nine police brigades which controlled the whole territory in San Marino, and there was an office dedicated to gender-based violence against minors.  A complaint could be received by the main police station, and victims needed to be informed of their rights.  Personnel of the gender-based violence office attended a three-week training course, in collaboration with the Italian police. 

    Data was gathered by the Authority on Equal Opportunities on gender-based violence and violence against minors, as well as discrimination in the world of work.  A new office, the Office of Statistics, was being created, which would act as a house for data, and would be used to answer questions from international bodies.  The State was striving to have data collected by all different agencies, including the police forces, to have a global vision on the issue.   

    While direct reference to the Convention was not that common, the legal framework of the State fully supported the provisions of the Convention. 

    Questions by Committee Experts

    A Committee Expert said San Marino had demonstrated a commitment to promoting gender equality through several institutional frameworks, including the Commission for Equal Opportunities, which addressed a broad range of discrimination, including gender, disability and sexual orientation.  Could the State party clarify the mandate and resource allocations for the Commission and the Authority for Equal Opportunities?  What were the responsibilities of each body? How were they coordinated?  How were gender perspectives currently integrated into public policy?  The Authority for Equal Opportunities managed a fund for victim support.  Could updated information be provided on human and financial resources available for the bodies responsible for gender equality? Were steps being taken to ensure sustainability in line with their growing mandates? 

    San Marino had a vibrant civil society, with groups including the San Marino Union for Women contributing to reforms.  How were women’s organizations formally included in the development and monitoring of gender equality policies?  What measures were taken to ensure the participation of civil society organizations in national platforms?  Could an update be provided on the process and timeline for establishing a national human rights institution?  How would it ensure compliance with the Paris Principles?

    Another Expert asked what kind of temporary special measures were already implemented in legislation and in the judicial branch?  What temporary special measures had been adopted in the area of parity to achieve increased representation of women?  Were there any examples of positive discrimination for women in fields such as the military? 

    Responses by the Delegation 

    The delegation said there needed to be a radical mind shift within San Marino society. Education at schools and universities played a key role in this regard.  If men felt they had a right to discriminate against women, it meant they were not being educated properly.  This applied to other challenges, including racism and intolerance towards minorities. 

    Work was being done to create an Office of the Ombudsman in San Marino.  The office was expected to be operational in 2026.  The key elements of the office, including monitoring, combatting discrimination, complaints mechanisms, and mediation, among others, had already been identified.  The Ombudsman would have an independent budget and would have a six-year mandate. 

    The State endorsed civil society organizations in fighting gender-based violence and discrimination.  A petition called for the creation of mechanisms to combat discrimination.  A register was being developed for civil society organizations active in the field of women’s rights to facilitate work with these organizations.  San Marino was a small State and its services were fully adequate.  The victims’ reception centre had a 24/7 hotline which provided assistance. 

    A decree had set norms for the employment of specific roles, with incentives for the employment of women.  In April 2025, the gap between men and women was significantly reduced, highlighting the effectiveness of these norms. 

    San Marino was in the process of developing an independent human rights commission, in line with the Paris Principles. The bill would come into force in 2025 and become operative in 2026. 

    Questions by Committee Experts

    An Expert asked how the effectiveness of training was being assessed?  What complaints mechanisms existed for discrimination against minority women?  Why was psychological harm not considered to be a criminal case?  Had the campaigns targeting men been assessed?  Was the State considering covering witnesses? Did judges, lawyers and law enforcement receive mandatory training in this regard?

    It was welcomed that the State provided services, including shelters for victims of violence.  Could women with disabilities and migrant women have access to these services?  Were there enough of these services?  What economic, labour and housing initiatives were provided for victims?  How many judicial sentences regarding gender-based violence had been handed down?  What period of time elapsed between the complaint and the finalised sentence? What public funds did civil society organizations currently receive when they provided assistance and support to victims?  How many victims of violence and their children had received reparation?  What kind of reparation did they receive?

    Another Committee Expert said the strong demand for foreign labour in the State created opportunities for trafficking.  The State party had reported that no investigations had been launched to date regarding trafficking cases.  When was the State party expecting to finalise work on the national action plan on trafficking?  What funds would be allocated to ensure its success?  How would the State party ensure that all relevant stakeholders were up to speed concerning their role in the fight against trafficking?  What steps was the State party taking to put in place national procedures and mechanisms to ensure the referral of trafficking victims?  Several sectors of the economy had been identified as being susceptible to trafficking, including domestic work.  Was the State party planning to follow the recommendation to raise awareness of the risk of trafficking among the general public?  Was the State party planning to decriminalise sex work?

    Responses by the Delegation 

     

    The delegation said San Marino was carrying out activities to improve its expertise in the area of trafficking.  The State currently had no cases directly relating to human trafficking, demonstrating the phenomenon was limited in the country, possibly due to its limited size, as well as the control and efficacy of law enforcement agencies.  The national strategy for combatting trafficking was currently being drafted.  Since trafficking cases were non-existent in San Marino, it was unlikely the topic would be addressed extensively in training courses, but it would be mentioned. The anti-violence network included magistrates and representatives of the legal system and law enforcement agencies. 

    Since the visit of the Council of Europe Group of Experts on Action against Trafficking in Human Beings to San Marino, there had been no indication of risks or cases reported. Work was carried out in collaboration with the Italian State in terms of training opportunities, and new modules were being designed for labour inspectors.  The Labour Inspectorate carried out direct interviews with the home carers and had reported no issues in this regard.  The State would continue to remain vigilant about trafficking, particularly for high-risk sectors, but at present this risk was not prevalent.

    Psychological violence was included in the decree of 2024, which addressed domestic violence against women.  It was defined as any intentional behaviour which impacted the psychological integrity of women.  In 2024, there were four orders of protection enacted by the judge.  Parliament recently adopted a law regarding the duration of trial, which would ensure an improvement in the duration of cases pertaining to violence. 

    Over the last year, training had been dedicated to preventive action against discrimination. The State had a duty to punish perpetrators, and to ensure their rehabilitation.  The union contract had been signed for the 24-hour availability of social servants, for cases of discrimination or violence.  A protocol was in place with the authorities and Order of Psychologists, where psychologists received a financial contribution for completing mandatory training for victims of violence. 

    The State had a list of pro-bono lawyers who could assist victims, but were also working on a specific agreement with the Bar Association, to ensure that victims had legal assistance.  This assistance would be entirely covered by the Authority of Equal Opportunities.  A project was underway to support women victims of violence who did not have access to an income.  Two years ago, a training module was created for journalists to raise awareness about gender stereotypes in the media, with work carried out directly with the Association of Journalists.

    A new emergency centre was created in 2024 and had been operating 24/7, welcoming women victims of violence and their children, as well as unaccompanied minors.   

    Questions by Committee Experts

    An Expert said the crime of trafficking affected all countries; was size of the country considered an acceptable excuse for the lack of trafficking cases? 

    A Committee Expert said there was an ongoing debate in the country about how to enforce the political participation of women in San Marino.  How did San Marino plan to achieve parity in public life.  How did the State party explain the low representation of women in the cabinet?  Were there legal or policy measures in place to ensure the representation of women? What would be done to increase the number of women in leading positions in the public administration and the judiciary? 

    One Committee Expert commended the State party for the efforts and improvements made to align citizenship rights of a small landlocked nation with international standards, ensuring that the rules for transmission of citizenship for maternal and paternal lines were now aligned.  The Committee also welcomed the approval concerning the “amendment on citizenship” to remove the obligations for applicants to renounce their existing citizenship.  However, it was regretful that there was no data in the report enabling the Committee to assess the impact of these acts.  It was also concerning that San Marino was yet to ratify key conventions relating to stateless persons. 

    What was the number of women who had obtained citizenship through naturalisation compared to men?  Was the State party considering abolishing the requirement of the interdiction of dual citizenship?  What support mechanism were in place to ensure eligible individuals were able to access the right to San Marino citizenship?

    Responses by the Delegation

    The delegation said approximately 50 per cent of the San Marino population lived abroad. Until the year 2000, San Marino citizenship could only be transmitted through the paternal line.  Those who held San Marino citizenship could hold others as well.  The obligation to renounce other nationalities was linked to the naturalisation process.

    Some diplomats believed there were in fact too many women in the diplomatic core, as there had been significant progress in this regard.  Measures to guarantee women’s political life in the country were linked to two laws.  Women made up 50 per cent of the public administration.  Women’s representation within the judiciary was fully granted; a few years ago, the President of the San Marino court was a woman.  San Marino did not intend to use the instrument of quotas again, as the results did not justify its existence, and the quotas were intended to be a temporary measure.  Instead, the State had introduced a cultural mind shift through better awareness raising.  Measures had been introduced to support families, to allow all citizens to participate in the life of the country. 

    The judiciary had strong female representation, with six female representatives.  The coordinator for the civil administrative sector was a woman.   Psychical criteria had been adjusted for entering the gendarmerie corps, meaning there were new female recruits.  In 2025, 25 per cent of officers within the gendarmerie where female, which was a common trend across all law enforcement agencies.  Women had been able to ascend within law enforcement agencies, with women colonels responsible for several units. 

    Questions by a Committee Expert

    A Committee Expert said the Committee commended the State party for achieving literacy rates for both women and men at a rate of 100 per cent.  Was the education system full inclusive to migrant girls and girls with disabilities?  The Committee congratulated the State party for ensuring that equality and inclusion started from primary school.  How did San Marino’s schools directly address topics of human rights, gender stereotypes, racism and gender equality?  Were human rights and gender equality issues explicitly addressed in education curricula? What were the specific recommendations made to prevent cyber bullying against women and girls?  Could sex disaggregated data be provided regarding access to financial aid for students? 

    Responses by the Delegation

    The delegation said San Marino had two dedicated decrees related to education, including for students with learning disabilities.  There were training courses for teachers to ensure they could provide support to students with disabilities and deal with individual cases. Indications were introduced in all San Marino institutions, from kindergarten to secondary school.  Even at university level, courses offered to students related to gender-based violence and racial discrimination.  The curriculum of schools included specific projects for awareness raising.  This initiative was also passed on to families involved in this approach. 

    On 5 July, an exhibition entitled “Open Dreams” would open, gathering works of elementary and secondary school students, created during school projects relating to human rights and gender parity.  This exhibition would be open to the San Marino people and was part of the United Nations Educational, Scientific and Cultural Organization celebration for education for peace. 

    Questions by a Committee Expert

    A Committee Expert said the Committee appreciated policies aimed at better integrating women into the labour force, including the one focusing on women over 50.  However, it was concerning that women were underrepresented in the labour market, but overrepresented in part time jobs. Around 95 per cent of those dismissed during the COVID-19 pandemic were women.  Could the State party provide disaggregated statistical data on the employment of women? Why were women the majority of those who lost their employment in the pandemic?  What was done to facilitate their return to employment?  Was there a wage gap?  Could more information be provided regarding measures to increase work life balance and incentivise employers to employ women? 

    What percentage of fathers had benefitted from parental leave since its introduction? What measures were taken to strengthen childcare and support services?  What was being done to strengthen the monitoring of labour conditions of vulnerable groups?  What measures were being taken to combat sexual harassment in the workplace?  What was being done to increase the low numbers of women in leadership positions in the private sector?  Was there a specific law prohibiting sexual harassment in the workplace? 

    Responses by the Delegation

    The delegation said in San Marino law, selection of an individual for employment was based on merit and the candidate’s skillset.  San Marino’s labour market was fully open, meaning employers were free to make their selection specific to the profile they were looking for.  The labour inspectorate would then provide opportunities for the unemployed.  San Marino had been providing incentives for female employment for several years, including that employers would pay less tax for female workers. 

    As of 2025, the labour force in San Marino was better balanced, with the gender gap reduced. If a female worker had a child and wished to return to work, she could transform her contract into one that was part-time.  There were fiscal incentives for employers who were ready to hear needs of their female workers.  This part time contract was valid for the first three years of the child’s life and could be extended for an additional three years.  This was a key provision which would help women balance their professional and private lives.  There were no distinctions in the area of training and lifelong learning between men and women. 

    San Marino had adopted the International Labour Organization convention on workplace discrimination, and the State had adopted a national action plan in this regard. There were several types of paternal leave.  The San Marino legal system encouraged fathers to request permission to accompany children to the doctor and for other needs.  The legal system also provided for parental leave for foster children. 

    Discriminatory acts in San Marino were punishable under the law.  If this occurred in a work environment, the sentence would be further strengthened.  There were harsher punishments for sexual violence when it occurred in a work environment. 

     

    Questions by a Committee Expert

    A Committee Expert asked what the State party was doing to ensure the right of minorities to health?  What were the current challenges faced by the Women’s Health Centre?  How was its sustainability guaranteed?  What measures were taken to ensure sexual and reproductive health, as well as modern, free and low-cost contraceptive measures, especially for more disadvantaged groups?  How was appropriate information provided on how to access appropriate gynaecological and obstetric care? 

    Forced sterilisation was sanctioned under the Penal Code but could be authorised on the grounds of psycho-social disability.  What measures would be taken to combat this harmful practice?  Had changes been made to the Penal Code which recognised exceptions to the general prohibition of abortion, including incest and rape?  How many women had access to legal abortion in 2023 and 2024?  What steps were being taken by the State party to have a team to support female victims of gender violence?  How were women’s needs in mental health being taken into account? 

    Responses by the Delegation

    The delegation said the law to support families included rights for mothers, fathers, natural and adopted children.  For years, the Women’s Health Centre had been working to support women, including counselling them.  This was a dedicated body which fought to protect women, their children, and families. The Centre offered counselling for women and couples, providing them with information and contraceptives. Activities in schools were tailored depending on the age of the pupils. 

    The Constitutional Court in San Marino had issued a ruling on the desire to de-penalise abortion, reflecting the mind shift already present in society.  Screenings for cancer risks were directly managed by the San Marino hospital.  The Women’s Health Centre was tasked with prevention and monitoring of such risks. There was no forced sterilisation in the country.  Close monitoring of contraception occurred under the supervision of medical personnel. 

    A series of events were organised in schools dedicated to sexuality, which were optional for elementary school pupils and mandatory for older pupils.  The content of these events differed depending on the age of the students.  Training courses had been developed to raise awareness among younger populations about sexual health.  These interventions had been favourably welcomed by San Marino households.  In 2023, a new hub providing psychological support was opened, accessible to all pupils.  Mental health support was available through the hub.  Adolescents and young people could freely access the human papillomavirus vaccine. 

    Questions by a Committee Expert

    A Committee Expert congratulated the State party on law no. 158 of 2022, which provided a regulatory framework for the protection and support of women who went through pregnancy and postpartum in conditions of psychological, economic and social discomfort, as well as single pregnant women, and single parent families.  How many single pregnant women and single-parent families had benefited since the adoption of the law in November 2022? 

    Had the State party considered instituting surveillance and monitoring mechanisms to specifically track progress in inclusive social security systems?  What laws and policies had been implemented to promote women’s entrepreneurship, access to economic assets, and business ownership?  Were there government-led programmes that provided support to women entrepreneurs? Were there training or capacity building initiatives in key sectors like financial technology, e-commerce, digital technologies, artificial intelligence, and robotics, where women remained underrepresented?  What actions were being taken to increase the number of women in leadership roles within sports and cultural institutions? 

    Responses by the Delegation 

    The delegation said a new law provided favourable conditions for both male and female entrepreneurs.  More and more women were opting for activities in the e-commerce space.  Employers and employees could have access to the family allowance.  This was provided by the State to better support childcare.  Law 158 from 2022 supported pregnant women and single parent families.  The State was currently considering a reform bill which resulted in further allowances to support households with young children, particularly new fathers, to close the gap between men and women in the household. 

    In 2024, there were 22 cases of voluntary abortion in the country.  The San Marino Olympic Committee promoted equality.  In 2024, the University of San Marino organised a day focusing on sports and disability, using sports as a tool for inclusion and equality.  This special day was open to all sports operators and coaches in the country to raise awareness regarding inclusion and combatting all kinds of discrimination in sports. 

    Questions by Committee Experts

    A Committee Expert said around five per cent of the State resided in rural areas, being predominantly involved in agriculture or domestic work.  Could information on the social conditions of rural women in San Marino be provided?  San Marino had 258 migrant workers employed in the private sector as caregivers or badanti. The Committee noted with satisfaction the establishment of the one stop shop set up to provide assistance to these badanti.  What was currently being done to prevent violence against badanti? 

    What measures were in place to ensure inclusive employment for women with disabilities? Since June 2019, discrimination on the ground of gender identity was expressly banned in San Marino.  What steps were being taken to recognise same sex marriage for citizens? 

    A Committee Expert asked for more information on forced sterilisation which had been imposed on women with disabilities over the past five years, possibly authorised by a legal guardian? 

    Responses by the Delegation 

    The delegation said it was difficult to distinguish between urban and rural areas in San Marino. All people living in San Marino enjoyed universal health coverage.  A desk had been organised for badanti to answer questions and deal with issues affecting them, and for families who wished to benefit from their services. There was no discrimination towards badanti in the country; efforts were made to protect their work. 

    Questions by a Committee Expert

    A Committee Expert welcomed the law which allowed a judge to order the removal of the aggressor in cases of gender-based violence, among other initiatives.  How did the courts deal with custody and the visiting rights of parents?  How were the best interests of a child taken into account from a gender perspective? How many children had been able to receive their mothers surname since 2016?  What mechanisms existed to provide oversight for family mediation procedures and ensure the Convention standards were respected? 

    Responses by the Delegation 

    The delegation said the interests of minors were always protected when it came to custody matters.  Judges would take into account the circumstance of violence within the household. When it came to separation between the parents, mediation was ruled out if there was violence within the household. 

    Closing Remarks

    MARCELLO BECCARI, Permanent Representative of San Marino to the United Nations Office at Geneva and head of the delegation, thanked the Committee for the dialogue which had enabled the State to review the legislation and all areas where discrimination against women could occur.  The institutions of San Marino were actively engaged in the implementation of the Convention.  The recommendations by the Committee would be carefully considered.

    MARIANNE MIKKO, Committee Vice-Chair, thanked the delegation of San Marino for the constructive dialogue, which had provided further insight on the situation of women in the country.  

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