Category: Commerce

  • MIL-Evening Report: Nature and shops: here’s what people told us they want most from urban planning

    Source: The Conversation (Au and NZ) – By Iain White, Professor of Environmental Planning, University of Waikato

    Getty Images

    Urban planning has a long history of promoting visionary ideas that advocate for particular futures. The most recent is the concept of the 15-minute city, which has gained traction globally.

    But empirical evidence on public preference for what people want is surprisingly thin on the ground.

    To help address this gap, we conducted a national survey (1,491 responses) in Aotearoa New Zealand to find out what amenities people want to have easy access to, how much time they prefer to spend getting there, and how this differs between different groups in the population.

    Our recently published research provides more depth. The headline messages have significant implications for politicians, policy-makers and others interested in planning cities to better meet the needs of citizens.

    People want green space and local shops

    The first message is that visions such as 15-minute cities tend to promote the idea of livability connected to easy access to multiple amenities – from education to employment and culture.

    However, when we asked what amenities people prefer the most, two things came out far above others: local nature and local shops.



    This finding is important as it allows cash-strapped local authorities to prioritise and sequence spending. It also supports the agenda of those who are advocating for an increase in urban green space or local living.

    A complete shift to a 15-minute city can be daunting, but investment in these two specific areas could be an excellent first step in improving livability in a way that reflects what citizens want from planning.

    We also asked people for their preferred maximum travel time to their most preferred amenity for a one-way trip, using different modes. Nationally, the data were consistent, identifying around 20 minutes as a good rule of thumb for maximum preferred travel time.

    Importantly, this time was broadly similar regardless of the transport mode chosen. Whether walking, cycling or travelling by micro-mobility modes such as e-scooters, people wanted to spend no more than 20  minutes doing so – even though the distances vary.

    It is important to acknowledge this time is a maximum, not a preference. It is better understood as a threshold or decision point after which people are much more likely to drive or choose not to travel.



    This evidence has a wider resonance.

    First, it strongly reinforces the 15-minute city or 20-minute neighbourhood as accurately reflecting public preferences for travel time to reach destinations, especially as this figure was consistent regardless of the travel mode.

    Second, people are willing to walk further than we typically plan for.

    For example, planners may typically apply a walkable catchment of an 800-metre radius around the central business district or transit nodes to allow for higher-density zoning. This distance is a walk of about ten minutes. Our data suggest this area could be expanded and more opportunities created to increase housing volume and diversity.

    One size does not fit all

    One crucial aspect for improving livability is recognising differences in people’s ability or willingness to walk, cycle or use micro mobility. To explore this, our survey asked people how comfortable they were using each active travel mode after dark.

    We reveal a strong gender difference. For example, 41% of people said they were uncomfortable walking after dark. Of this group, 86% were female.

    For all travel modes, there was a similar story with females more likely to change travel behaviour, mostly due to safety concerns. The survey also revealed that people with a disability are significantly less comfortable travelling after dark than those without.



    This finding is useful for those concerned with equity. Citizen movement is typically modelled on the idea of an able-bodied person who feels equally comfortable in all urban spaces at all times of day or night.

    Without considering difference across populations, advocates may promote an equitable 15-minute city during the day and an inequitable car-dependent one after dark.

    This also highlights that any new urban strategy or investment needs to understand existing behaviour and the risks of making current disadvantages worse.

    Agendas such as 15-minute cities hold significant value in planning for wellbeing and health, economic activity or decarbonisation. They also hold potential for planners to engage with communities to explain the value of planning, the kind of lifestyle citizens can expect in the future, and why authorities are spending public money.

    But urban researchers also need urban concepts to be grounded in evidence to avoid becoming the next urban imaginary accused of failing to be transformative.

    Our research helps provide some clarity. The general message is that people want easy access to green spaces and local shops more than anything else and they want to spend no more than 20 minutes getting there.

    It also highlights context and differences between groups. We need to marry promising urban concepts to empirical research designed to support people’s preferences and encourage movement and equity.

    Iain White receives funding from the Ministry of Business, Innovation and Employment’s Endeavour Fund and from the Natural Hazards Commission. He is New Zealand’s national contact point for the Horizon Europe program for the climate, energy and mobility research cluster.

    Silvia Serrao-Neumann receives funding from the Ministry of Business, Innovation and Employment’s Endeavour Fund and from the Natural Hazards Commission.

    Xinyu Fu receives funding from the Ministry of Business, Innovation and Employment’s Endeavour Fund and from the Natural Hazards Commission.

    ref. Nature and shops: here’s what people told us they want most from urban planning – https://theconversation.com/nature-and-shops-heres-what-people-told-us-they-want-most-from-urban-planning-247994

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: New Jersey CPA Sentenced in Syndicated Conservation Easement Tax Scheme

    Source: US State of California

    A New Jersey accountant was sentenced today to 24 months in prison for his role in the promotion and sale of abusive syndicated conservation easement tax shelters.

    According to court documents and statements made in court, Ralph Anderson was a CPA and return preparer working for accounting firms in New Jersey and New York. From approximately 2013 to 2019, Anderson promoted and sold tax deductions to his high-income clients in the form of units in illegal syndicated conservation easement tax shelters created by convicted co-conspirators Jack Fisher and James Sinnott.

    Anderson knew that, contrary to law, the transactions related to these illegal tax shelters lacked economic substance and that his high-income clients purchased units at his recommendation only to obtain a tax deduction on their tax returns. The charitable deductions purchased by clients were derived from the donation of land with a conservation easement or the land itself to a charity, and the deductions were based on fraudulently inflated appraisals for the donated land. Anderson and the promoters promised the clients a so-called ratio of “4.5 to 1” in charitable deductions for every dollar paid into the tax shelter.

    In some instances, to make it appear that his clients had joined the partnerships before the date of the conservation easement donation — which was necessary to claim the tax benefits — Anderson and his co-conspirators also instructed and caused clients to falsely backdate documents, including subscription agreements and checks related to the partnerships. Each year from 2013 to 2019, Anderson and his co-conspirators assisted clients with claiming these false deductions on their tax returns.

    In total, Anderson assisted in preparing tax returns for clients that claimed over $9.3 million in false charitable deductions based on backdated documents, which caused a tax loss to the United States of nearly $3 million.

    Between approximately 2016 and 2019, Anderson earned over $300,000 in commissions for promoting and selling the illegal tax shelters to his clients. Anderson also claimed false tax deductions for charitable contributions generated from the syndicated conservation easement tax shelters he received as “free units” on his own returns and fraudulently reduced his own taxes on the income he earned from the scheme.

    In addition to his prison sentence, U.S. District Court Judge Michael A. Shipp for the District of New Jersey ordered Anderson to serve three years of supervised release and to pay $3,543,005.53 in total restitution to the IRS and Small Business Administration.

    After being convicted on all counts after a trial in U.S. District Court for the Northern District of Georgia, Anderson’s co-conspirators, Jack Fisher and James Sinnott, were sentenced to 25 and 23 years in prison, respectively. Nine additional defendants pleaded guilty to criminal conduct related to the syndicated conservation easement tax shelter scheme. These other defendants include appraiser Walter Douglas “Terry” Roberts and Certified Public Accountants Stein Agee, Corey Agee, James Benkoil, Victor Smith, Herbert Lewis and William Tomasello. In addition, attorneys Randall Lenz and Vi Bui pleaded guilty to their roles in this scheme. The fraudulent syndicated conservation easement tax shelter scheme created and promoted by Fisher and Sinnott resulted in over $1.3 billion in fraudulent tax deductions and caused over $400 million in total tax loss to the IRS.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and Chief Guy Ficco of IRS Criminal Investigation (IRS-CI) made the announcement.

    IRS-CI and the U.S. Postal Inspection Service investigated the case.

    Senior Litigation Counsel Richard M. Rolwing and Trial Attorneys Parker Tobin and Jessica Kraft of the Tax Division prosecuted the case with assistance from former Tax Division Trial Attorney Nicholas Schilling and support from the U.S. Attorney’s Office for the Northern District of Georgia.

    MIL OSI USA News

  • MIL-OSI Security: New Jersey CPA Sentenced in Syndicated Conservation Easement Tax Scheme

    Source: United States Attorneys General

    A New Jersey accountant was sentenced today to 24 months in prison for his role in the promotion and sale of abusive syndicated conservation easement tax shelters.

    According to court documents and statements made in court, Ralph Anderson was a CPA and return preparer working for accounting firms in New Jersey and New York. From approximately 2013 to 2019, Anderson promoted and sold tax deductions to his high-income clients in the form of units in illegal syndicated conservation easement tax shelters created by convicted co-conspirators Jack Fisher and James Sinnott.

    Anderson knew that, contrary to law, the transactions related to these illegal tax shelters lacked economic substance and that his high-income clients purchased units at his recommendation only to obtain a tax deduction on their tax returns. The charitable deductions purchased by clients were derived from the donation of land with a conservation easement or the land itself to a charity, and the deductions were based on fraudulently inflated appraisals for the donated land. Anderson and the promoters promised the clients a so-called ratio of “4.5 to 1” in charitable deductions for every dollar paid into the tax shelter.

    In some instances, to make it appear that his clients had joined the partnerships before the date of the conservation easement donation — which was necessary to claim the tax benefits — Anderson and his co-conspirators also instructed and caused clients to falsely backdate documents, including subscription agreements and checks related to the partnerships. Each year from 2013 to 2019, Anderson and his co-conspirators assisted clients with claiming these false deductions on their tax returns.

    In total, Anderson assisted in preparing tax returns for clients that claimed over $9.3 million in false charitable deductions based on backdated documents, which caused a tax loss to the United States of nearly $3 million.

    Between approximately 2016 and 2019, Anderson earned over $300,000 in commissions for promoting and selling the illegal tax shelters to his clients. Anderson also claimed false tax deductions for charitable contributions generated from the syndicated conservation easement tax shelters he received as “free units” on his own returns and fraudulently reduced his own taxes on the income he earned from the scheme.

    In addition to his prison sentence, U.S. District Court Judge Michael A. Shipp for the District of New Jersey ordered Anderson to serve three years of supervised release and to pay $3,543,005.53 in total restitution to the IRS and Small Business Administration.

    After being convicted on all counts after a trial in U.S. District Court for the Northern District of Georgia, Anderson’s co-conspirators, Jack Fisher and James Sinnott, were sentenced to 25 and 23 years in prison, respectively. Nine additional defendants pleaded guilty to criminal conduct related to the syndicated conservation easement tax shelter scheme. These other defendants include appraiser Walter Douglas “Terry” Roberts and Certified Public Accountants Stein Agee, Corey Agee, James Benkoil, Victor Smith, Herbert Lewis and William Tomasello. In addition, attorneys Randall Lenz and Vi Bui pleaded guilty to their roles in this scheme. The fraudulent syndicated conservation easement tax shelter scheme created and promoted by Fisher and Sinnott resulted in over $1.3 billion in fraudulent tax deductions and caused over $400 million in total tax loss to the IRS.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and Chief Guy Ficco of IRS Criminal Investigation (IRS-CI) made the announcement.

    IRS-CI and the U.S. Postal Inspection Service investigated the case.

    Senior Litigation Counsel Richard M. Rolwing and Trial Attorneys Parker Tobin and Jessica Kraft of the Tax Division prosecuted the case with assistance from former Tax Division Trial Attorney Nicholas Schilling and support from the U.S. Attorney’s Office for the Northern District of Georgia.

    MIL Security OSI

  • MIL-OSI United Kingdom: Norwich City Council celebrates National Apprenticeship Week!

    Source: City of Norwich

    Published on Monday, 10th February 2025

    National Apprenticeship Week is a week-long celebration of apprentices, highlighting the positive impact that apprenticeships make to individuals and organisations across the country.

    With the national campaign now in its 18th year, Norwich City Council is proud to once again celebrate the invaluable contribution apprentices make to its workforce, helping to deliver essential public services to the residents across the city.

    The authority boasts that Since 2018 more than 18 apprenticeships have been completed, with another 12 currently ongoing. Qualifications range from NVQ level 2 to level 6 (or equivalent) in a variety of disciplines, including:

    • Business administration.
    • Civil engineering.
    • Procurement.
    • Accountancy.
    • Human resources (HR).
    • Software development.
    • Customer Service.

    Meanwhile, the council’s retention rate is an equally impressive 72%, demonstrating that the apprentices choose to stay on and progress within the authority, even after they have completed their course.

    This mirrors the picture nationally, with studies showing that 80% of employers report higher staff retention due to apprenticeships and 92% of employers seeing a boost in workforce motivation and satisfaction.

    Councillor Mike Stonard, leader of Norwich City Council said: “As a council we are very proud of our apprentices and the work they do for us, not only do apprenticeships offer fantastic opportunities for young people in the local area to kickstart their careers, but it is also a way for our established members of staff to retrain in other disciplines, should they wish to.”

    “I would like to encourage more local businesses in the city to take on apprentices, so we can foster a more experienced and qualified workforce which can only help to enrich the local economy further.”

    For more information on the council’s apprenticeships – and news of vacancies as they become available, please visit www.norwich.gov.uk/apprenticeships

    MIL OSI United Kingdom

  • MIL-OSI: SOAX Releases Real-Time Data Extraction for Shopee, Outperforms Other Web Scrapers

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 10, 2025 (GLOBE NEWSWIRE) — SOAX, the leading intelligent data extraction and collection platform, today announced the availability of a new scraper API product to extract data from Shopee, the leading ecommerce platform in Southeast Asia and Taiwan. Initial tests show the new SOAX Shopee Scraper API outperforms other web data scrapers for a fraction of the cost.

    Shopee is one of the most popular ecommerce sites serving Southeast Asia, including Indonesia, Taiwan, Vietnam, Thailand, Philippines, Malaysia, and Singapore, as well as South American markets like Brazil, Mexico, Colombia, and Chile. Real-time access to detailed product, review and pricing data is essential to remain competitive. Web data scraping is the most effective way to monitor ecommerce competitors. It’s also the best way to monitor the minimum advertised price (MAP) to ensure others aren’t underselling your brand. Businesses also analyze scraped reviews to gain valuable insights on how to improve their products.

    The SOAX Shopee Scraper API has been shown to achieve higher success rates at a cost three to six times lower than other solutions. SOAX accesses the Shopee API, gathering all available data rather than just what’s on the web page. The result is a comprehensive view. SOAX uses proprietary, adaptive AI technology to unblock sites using constant fingerprint generation, self-healing proxies, and custom browser builds. And, thanks to SOAX’s vast network of 191 million proxy servers, the Shopee Scraper API is capable of scaling to millions of requests per day for virtually unlimited data gathering. Pricing starts as low as $1 per thousand requests, compared to $3 from the closest competitors.

    “Access to accurate Shopee data is essential for any e-tailer to stay competitive,” said Anton Rachitskiy, Vice President of Data Products for SOAX. “We are delighted to be able to add a Shopee to Amazon, eBay, Etsy, Walmart, and our other ecommerce scraper APIs. Our customers are already benefiting from SOAX’s superior speed and accuracy in web data gathering, along with our highly reliable proxy network boasting 99.9% uptime.”

    Shopee is the latest addition to SOAX’s more than 50 scraper APIs for ecommerce, search engines, and social networks. SOAX also offers sophisticated web unblockers capable of bypassing the most advanced anti-bot systems and residential, mobile, ISP, and datacenter proxies for every need.

    SOAX sells directly to corporate customers through a subscription-based model, providing access to its ethical proxy network, web unblocker, and scraper APIs. Customers can sign up via SOAX’s self-service platform, select a plan, and start immediately. Larger enterprises can opt for custom plans with white glove support. SOAX’s services are API-driven, allowing seamless integration into existing workflows, and its flexible pricing tiers accommodate varying usage needs, location coverage, and feature requirements.

    For more information about SOAX Shopee Scraper API, visit https://soax.com/targets/shopee.

    About SOAX
    SOAX is building the future of data extraction. They provide data-hungry companies with an automated, one-stop platform for accessing web data quickly and ethically. SOAX’s extensive network of nearly 200 million ethically-sourced proxies, combined with powerful scraping APIs, enables businesses to unlock valuable insights in a fraction of the time it takes with traditional methods.

    Recognized as a leader in the proxy market, SOAX prioritizes customer satisfaction through product performance, security, and legal compliance. They’ve earned industry recognition like “Newcomer of the Year” (Proxyway, 2021) and “Contender of the Year” (Proxyway, 2023) for their commitment to innovation and excellence. SOAX is leveraging AI to further enhance its platform and empower businesses with AI-powered data solutions.

    For more information, visit https://soax.com.

    Media Contact

    Len Fernandes
    Firecracker PR
    len@firecrackerpr.com
    1-888-317-4687 ext. 707

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea8828bd-cca5-4d2e-b338-3a73b50ec506

    The MIL Network

  • MIL-OSI: Coface SA: Disclosure of total number of voting rights and number of shares in the capital as at 31 January 2025

    Source: GlobeNewswire (MIL-OSI)

    COFACE SA: Disclosure of total number of voting rights and number of shares in the capital as at 31 January 2025

    Paris, 10 February 2025 – 17.45

    Total Number of
    Shares Capital
    Theoretical Number of Voting Rights1 Number of Real
    Voting Rights2
    150,179,792 150,179,792 149,405,017

    (1)   including own shares
    (2)   excluding own shares

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust. You can check the authenticity on the website www.wiztrust.com.
     

    About Coface

    COFACE SA is a société anonyme (joint-stock corporation), with a Board of Directors (Conseil d’Administration) incorporated under the laws of France, and is governed by the provisions of the French Commercial Code. The Company is registered with the Nanterre Trade and Companies Register (Registre du Commerce et des Sociétés) under the number 432 413 599. The Company’s registered office is at 1 Place Costes et Bellonte, 92270 Bois Colombes, France.

    At the date of 31 December 2024, the Company’s share capital amounts to €300,359,584, divided into 150,179,792 shares, all of the same class, and all of which are fully paid up and subscribed.

    All regulated information is available on the company’s website (http://www.coface.com/Investors).

    Coface SA. is listed on Euronext Paris – Compartment A
    ISIN: FR0010667147 / Ticker: COFA

    Attachment

    The MIL Network

  • MIL-OSI USA: FACT SHEET: Trump Continues to Block Hundreds of Billions of Dollars Owed to Communities Across America

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    ***READ FACT SHEET HERE***
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, released a new fact sheet detailing how, in his third week in office, President Trump is continuing to block hundreds of billions of dollars in enacted funding from making its way out to families and communities across America who are counting on investments that have been enacted into law. 
    In a statement, Senator Murray said:
    “President Trump is still illegally blocking hundreds of billions of dollars in investments that are owed to communities across the country.
    “The president’s sweeping freeze is causing real pain for people in every part of the country—in red states and blue states and everywhere in between—and it must end right now.
    “The uncertainty alone over the fate of these investments is putting jobs on the chopping block, hurting American businesses left wondering whether contracts they’ve inked mean anything, and jeopardizing entire local economies. What Trump is doing could shutter critical infrastructure projects in virtually every community, kill good-paying jobs, choke off funding for farmers, stop innovation in its tracks, leave massive holes in local communities’ budgets, and so much more.
    “Once again: if Donald Trump or Elon Musk want to gut funding that’s creating good-paying jobs all across America, they can take their case to Congress and win the votes they need to do it. Defying the constitution to unilaterally rip away your tax dollars is not how this works.”
    A table of estimated funding in jeopardy is below. Read the full fact sheet HERE.
    While the extent of Trump’s funding freeze remains uncertain as his administration refuses to clarify what is blocked, here is a non-exhaustive overview of what is frozen by Trump’s actions and in jeopardy:
    Trump Action
    Relevant Agencies
    Select Examples of Affected Programs
    Funding in Jeopardy*
    Executive Order Freezing IIJA & IRA Funding
    Department of Commerce
    High-speed broadband deployment.
    $40+ billion
    (EO 14154)
    Department of Energy
    Efforts to build and upgrade America’s energy infrastructure, lower costs for consumers.
    $98 billion
     
    Department of Housing and Urban Development
    Grants and loans to improve resiliency and energy efficiency of affordable housing.
    $830+ million
     
    Department of the Interior
    Tribal electrification, hazardous fuel reduction, National Parks maintenance and staffing, & more.
    $20+ billion
     
    Department of Transportation
    Funding to upgrade roads, bridges, transit, & more.
    $130+ billion
     
    EPA
    Funds for clean water infrastructure, tackling pollution, Superfund sites, & more.
    $100+ billion
     
    Forest Service
    Wildfire risk reduction, ecosystem restoration, & more.
    $10+ billion
     
    NOAA
    Funding for flood inundation mapping, coastal resilience projects, habitat restoration, ocean observations, fisheries management, & more.
    $1.5 billion
     
    USDA
    Grants for producers and rural small businesses to finance renewable energy projects, for farmers to improve climate resiliency, for watershed protection and flood prevention, rural broadband, & more.
    $25 billion
    Executive Order Blocking All Foreign Assistance (EO 14169)
    Department of State & USAID
    Life-saving aid, funding to monitor and prevent the spread of infectious diseases that can reach our shores,  counterterrorism programs, programs to give U.S. businesses an edge over Chinese and other companies in foreign markets, funds owed to U.S. businesses for services rendered, & more.
    $30 billion
    Executive Order Halting Funding for Anything Deemed “DEI” (EO 14151)
    All agencies
    Any programs or expenditures the administration deems “woke.”
      ???   The administration has provided little to no clarity over what programs it is blocking (or will block) funding for under this EO.  
    Elon Musk & DOGE Actions
    All agencies
    Open question. Reports confirm DOGE sought access to central payment system to halt disbursements.
      ???    
    Other actions  
    All agencies
    ???
    ???
    TOTAL
     
     
    At least $455 billion
    *Funding in Jeopardy: this reflects our best understanding, as of afternoon on February 7, of what funding is being illegally withheld. The administration has failed to provide clear answers—and the actual number could be higher. This lack of transparency and responsiveness to Congress, and thus the American people, is without precedent.
    FOR MORE DETAILS, READ THE FULL FACT SHEET HERE.

    MIL OSI USA News

  • MIL-OSI: Global B2B Spare Parts Marketplace to Elevate Customer Experience in the Commercial Vehicle Sector

    Source: GlobeNewswire (MIL-OSI)

    • Powered by Spryker, the marketplace will make it faster, easier, and more convenient to buy spare parts online
    • Dealers can focus more on servicing rather than selling and acquiring the right spare parts, leading to decreased costly downtime for trucks

    BERLIN and NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Spryker, the leading composable commerce platform for sophisticated use cases in B2B Commerce, Enterprise Marketplaces and IoT Commerce, and Daimler Truck today announced a global partnership to shape the future of the commercial vehicle industry. The world’s largest commercial vehicle manufacturer is taking its B2B spare parts webshop experience to the next level for their customers in Europe by optimizing the spare parts purchasing journey to be faster, easier, and more convenient.

    Fleet vehicles deal with unexpected downtime that can be very costly for businesses. This is often because of unexpected repairs or scheduled maintenance. When this occurs, getting the right spare parts quickly and easily in order to get the vehicle back on the road is paramount. Very often in the industry, the parts ordering process is complicated and sometimes takes place offline, leaving customers dependent on store opening times and challenging schedules. With an easy to use online webshop, B2B customers can focus on servicing their trucks and getting them back on the road rather than finding the right spare part.

    The majority of the sophisticated requirements for the project, implemented by Valantic, will be met with Spryker’s out of the box enterprise marketplace and B2B Commerce functionality. The commercial vehicle manufacturer’s existing system infrastructure will be seamlessly managed due to Spryker’s flexible architecture. Spryker’s composability allows for maximum speed, flexibility, and scalability as well as a minimal marketable product approach to test, learn, and adjust on the go.

    “We are proud to power the new global B2B spare parts marketplace which marks a transformative shift in the commercial vehicle sector by pushing offline transactions to online,” said Boris Lokschin, Co-Founder and CEO at Spryker. “For the commercial vehicle industry, time on the road is money. A flexible commerce solution that can adapt to supply chain or other unforeseen challenges is critical for ensuring that parts can be purchased quickly and reliably when needed.”

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46d232be-3c1d-48ff-99d2-00b93477e9c1

    The MIL Network

  • MIL-OSI Economics: Tech titans surge while legacy giants stumble in 2024, reveals GlobalData

    Source: GlobalData

    Tech titans surge while legacy giants stumble in 2024, reveals GlobalData

    Posted in Business Fundamentals

    The latest analysis of top market value gainers and losers has uncovered intriguing trends in the stock market. Notably, there is a significant surge in investor appetite for technology stocks, charting divergent market trajectories compared to other industries. During the evaluation period from 31 January 2024 to 31 January 2025, the top gainer in market value was Santa Clara-based GPU maker NVIDIA while the top loser was the Saudi Arabian Oil Company (Saudi Aramco), reveals the Company Profiles Database of GlobalData, a leading data and analytics company

    NVIDIA reportedly added a staggering $1.4 trillion to achieve a market capitalization of $2.9 trillion by the end of the review period. In stark contrast, Saudi Aramco witnessed its market value decline by $182.1 billion to reach $1.8 trillion.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “NVIDIA’s explosive growth is largely attributed to its dominance in artificial intelligence (AI) chips, cloud computing, and data center expansion. As the primary supplier of AI GPUs, NVIDIA capitalized on the AI boom, securing massive contracts with cloud service providers and enterprises investing in machine learning.

    On the other side, Saudi Aramco witnessed a downturn in its stock value due to the ongoing global transition to renewable energy, lower demand from China, and the diminishing reliance on fossil fuels.

    Apple Inc, despite being the largest company by market value at $3.5 trillion, recorded a relatively modest growth of $697.8 billion. This highlights the challenges even tech giants face in maintaining exponential growth at such a massive scale.

    Grandhi continues: “Pharmaceutical companies, once considered recession-proof, have faced significant headwinds. Moderna Inc. saw its market value plummet to $15.2 billion, a decline of $23.4 billion, primarily due to the waning demand for COVID-19 vaccines and rising competition within the biotech sector. Denmark-based Novo Nordisk faced an $87.7 billion drop in valuation, attributed to regulatory scrutiny and intensifying competition in the weight-loss drug market. Meanwhile, Merck & Co., Inc. and Regeneron Pharmaceuticals Inc. experienced declines of $56.1 billion and $28.8 billion, respectively, as concerns over drug patent expirations and pricing pressures weighed on investor sentiment.”

    Samsung Electronics lost $114 billion in market cap due to weak consumer electronics demand and struggles to compete in the AI chip market. Intel shed $98 billion amid supply chain disruptions and intensifying competition. Adobe declined by $88.8 billion as software subscriptions slowed and AI-driven creative tools gained traction. AMD lost $82.7 billion due to softening semiconductor sales. ASML fell $37 billion, impacted by reduced chipmaker demand and the US sanctions restricting sales of advanced lithography equipment to China, limiting its access to one of its key markets.

    Grandhi concludes: “The coming months of 2025 will be highly volatile, driven by renewed tariff wars, interest rate cuts, and the divide between booming tech and struggling traditional industries. Geopolitical tensions, energy transitions, and inflation concerns will add uncertainty. While AI and renewables fuel investor optimism, supply chain disruptions and policy shifts pose risks. Businesses must embrace adaptability and diversification to navigate an unpredictable financial and economic landscape.”

    MIL OSI Economics

  • MIL-OSI Global: Generative AI, online platforms and compensation for content: the need for a new framework

    Source: The Conversation – France – By Thomas Paris, Associate professor, HEC Paris, researcher at CNRS, HEC Paris Business School

    The emergence of generative artificial intelligence has put the issue of compensation for content producers back on the table.

    Generative AI offers undeniable benefits but raises familiar fears tied to disruptive technologies. In the cultural and creative sectors, concerns are mounting over the potential replacement of human creators, the erosion of artistic authenticity and risks of copyright infringement. Legal battles are already emerging worldwide, with intellectual property owners and AI developers clashing over rights. Alongside these legal and ethical concerns lies the economic question: how should revenues generated by AI be fairly distributed?

    Copyright law (droits d’auteur), which is traditionally based on the reproduction or representation of specific works, may not be a fit for this question. Individual contributions to AI-generated outputs are often too complex to quantify, making it difficult to apply the principle of proportional remuneration, which holds that payment for an individual work is tied to the revenue it generates.

    An asymmetrical relationship

    The disputes surrounding generative AI echo long-standing tensions between digital platforms and content creators. Platforms such as Spotify, YouTube and TikTok dominate the music industry; Netflix and Apple lead in film and television; Steam in gaming; and Google and Meta in news media.

    These platforms wield enormous power in reshaping industries, influencing consumption patterns and establishing new power dynamics. On the one hand, they amplify the reach of creative works, but on the other, they rely on an inherently unequal relationship. For example, if Spotify removes a song, the artist’s reach and revenue may decline sharply, but Spotify itself is unlikely to suffer significant consequences–perhaps losing a few subscribers to competitors, at most.

    A Nobel Prize for platform economics

    The economics of digital platforms have been widely studied. This includes platforms’ two-sided market structure–a concept for which economist Jean Tirole won a Nobel prize in 2014. In this model, platforms act as intermediaries between two groups that benefit from each other: the more content a platform offers, the larger its audience grows, and the larger audience, in turn, attracts more content creators. This dynamic often leads to market concentration, and to platform strategies that subsidise one side to grow the other.

    However, most research in this area has not fully addressed the complexities of platforms’ relationships with different types of content. High-value “premium” content, such as live sporting events, holds a singular status compared to more common offerings. These distinctions are often overlooked, particularly when assessing the value different types of content bring to a platform’s economy.

    This question of value is central to the conflicts between platforms and content providers, as well as the emerging disputes between AI operators and content owners. The disputes underscore the need for a new framework, as traditional tools are proving inadequate for addressing these complex issues.

    The challenge of valuing content

    The news industry provides a clear example of the complex relationship between platforms and content providers. News publishers worldwide have long sought compensation from platforms such as Google and Meta for featuring their content. Google, for instance, indexes news articles alongside other types of content to enhance search relevance and platform value. However, the exact contribution of news content to Google’s business model is difficult to determine due to its layered, interconnected nature.

    Google’s ecosystem relies on indexing vast amounts of content, some of which is ad-supported, while other elements–such as Google News–do not generate direct revenue. Additionally, data collected across Google’s services improve ad targeting and search accuracy, further complicating efforts to isolate the value of specific content.

    Depending on user behaviour, content may either appear as a hypertext link directing users to the original publisher, or as a summary that keeps users within Google’s environment. In cases where users stay on Google, the platform effectively acts as a content provider, displaying excerpts in a crowded layout in which individual contributions are unclear. When users click through, Google serves as a traffic driver, sending readers to the publisher’s site. As a recommender, Google adds value to content; as a content provider, it extracts value from it. This dual role blurs the lines of compensation and also complicates efforts to determine how much an individual piece of content contributes to a platform’s overall success.

    A new paradigm

    Print media has been particularly affected by the rise of digital platforms, which profit significantly from news content. Disputes over how to measure the value of individual articles or publishers to platforms such as Google and Meta remain unresolved.

    These conflicts vary by country, with outcomes influenced by legal jurisdictions, power dynamics and negotiations. Some agreements are struck only to be later challenged, while in other cases, platforms respond by removing news content altogether. Courts often avoid setting explicit guidelines on revenue sharing, leaving many questions unanswered.

    This uncertainty reflects a broader shift. In the platform economy, individual content, or even entire categories of content, no longer has a clear, measurable contribution to overall value. Given the importance of platforms in the economies of cultural industries, developing a new framework to address these complexities is increasingly urgent.

    We were consulted on an occasional basis, in the context of a case mentioned, by a lawyer for one of the parties.

    ref. Generative AI, online platforms and compensation for content: the need for a new framework – https://theconversation.com/generative-ai-online-platforms-and-compensation-for-content-the-need-for-a-new-framework-242847

    MIL OSI – Global Reports

  • MIL-OSI USA: Gov. Kemp Announces 104 Appointments to Boards, Authorities, and Commissions

    Source: US State of Georgia

    Atlanta, GA – Governor Brian P. Kemp today announced 104 appointments and reappointments to various state boards, authorities, and commissions.

    Board of Regents of the University System of Georgia

    Patrick Jones was reappointed. 

    Thomas Chris Cannon is a business owner, business leader, and an active member of the Albany community and the State of Georgia. Early in his career, Cannon was the President and Chief Operating Officer of an entity that had varied business interests throughout Georgia, including a multi-divisional Caterpillar Tractor Distributorship, corporate farming operations and real estate development. In 1992, Cannon founded and developed a business group whose mission was to provide a variety of environmental services to businesses and city and county governments in Georgia, Florida, and Alabama. The business group consisted of a multi-location residential and commercial waste service company, a petroleum equipment company, a solid waste landfill developer and operator, and an environmental consulting and remediation firm. In 1998, Cannon completed a merger transaction of his waste service company with a publicly traded company – Waste Industries – based in Raleigh, North Carolina. For several years, Cannon served on the board of directors of the publicly traded company, until 1992 when he sold his shares in Waste Industries to pursue other business interests. Also in 1992, he founded Flint Holdings, Inc. Today, Cannon continues to own and operate Flint Equipment Company consisting of Flint Ag and Turf, Flint Power Systems, and Barber Petroleum Equipment Company. Over the years, Cannon has served as the president of many civic organizations, including the Albany Technical College Foundation Board, the Albany YMCA Board, and the Boys and Girls Club Board. He also served on the boards of the Darton College Foundation, the State of Georgia Department of Industry and Trade, NoVab Inc., Waste Industries Inc., Deerfield Windsor School, the Governors Council on Economic Development, the Georgia Mining Association, the Albany Museum of Art, Nations Bank, and regional Sun Trust Bank. Cannon is a graduate of the University of Georgia with a B.S.A. degree in Business. He has two children that are active in the businesses and continues to reside in Albany.

    Haynes (Maier) Studstill is a partner in the Valdosta law firm Studstill Firm, LLP, where her practice is focused on representing individuals and families in disputes with insurance companies. Studstill is originally from Rome, where she attended Darlington School before graduating the Culver Academies in Culver, Indiana. She earned her B.S. degree from Vanderbilt University in human & organizational development. After graduating from Vanderbilt, Haynes worked in the journalism industry for several years. She worked at WRC-TV/NBC4 in Washington, D.C. and NBC-affiliate WSMV in Nashville, Tennessee. She also served as the life editor of The Brunswick News before joining her uncle, William S. Morris, III, of Augusta, at his equine publications, Quarter Horse News and Barrel Horse News, in Fort Worth, Texas. Morris is a former regent, as is his father and Haynes’s grandfather, William S. Morris, Jr., thus making Haynes the 3rd generation in her family to serve the University System of Georgia on the Board of Regents. Studstill attended Mercer University’s Walter F. George School of Law, where she met her husband, Justin D. Studstill. She and Justin both graduated from Mercer. She is a former barrister in the William Augustus Bootle Inn of Court. Studstill clerked for the Hon. C. Ashley Royal in the U.S. District Court for the Middle District of Georgia and worked as an associate for King & Spalding, LLP in Atlanta, before joining her father-in-law, Danny Studstill, and her husband in practice in South Georgia at the Studstill Firm, LLP.  She currently serves as a board member on the State Botanical Garden of Georgia Board of Advisors in Athens and on the Judicial Nominating Commission, having been appointed by Gov. Kemp in 2021. She also serves as a Special Master, appointed by the Georgia Supreme Court, on attorney discipline cases. She is the immediate past president of the Valdosta Bar Association, and former president of both the Alapaha Judicial Circuit Bar Association and the Valdosta Chapter of the Georgia Association of Women Lawyers (GAWL). She is a former board member of: Vanderbilt University Peabody College Young Alumni Board; the Museum of Arts & Sciences in Macon; SafeKids Lowndes County; and The Verdict magazine of the Georgia Trial Lawyers Association (GTLA). She has been admitted to practice in all State Appellate Courts in Georgia, all U.S. District Courts in Georgia, and the Supreme Court of the United States. She and her husband have four children and live in Lakeland, Georgia.

    State Board of Pardons and Paroles

    Robert Markley is a dedicated and experienced law enforcement professional with a proven track record of leadership and service to the community. Markley served as the elected Sheriff of Morgan County from 2001 to 2024, overseeing all aspects of law enforcement operations. Prior to his role as Sheriff, Markley held various positions within the Morgan County Sheriff’s Office, including jailer, patrolman, investigator, and administrative officer. Committed to maintaining public safety, upholding the law, and fostering positive community relationships. During his tenure as Sheriff, he served as member of the Board of Trustees for the Sheriffs’ Retirement Fund of Georgia.

    Georgia Composite Medical Board 

    Judy Lynn Gardner and Barby J. Simmons were reappointed.

    Board of Natural Resources

    Nancy Addison was reappointed. 

    Mike Peavy is a native of Hawkinsville, Georgia, and is a graduate of the University of Georgia. After teaching for several years, he transitioned into concrete and masonry supply sales, ultimately joining Cherokee Brick. At Cherokee, Peavy became vice president of sales and later assumed the role of president in 2008. In 2021, Peavy was named president of CBEL, the parent company overseeing Cherokee Brick, Cherokee Block, Cherokee Masonry, Stratton Stone and other complimentary businesses. With a history of leadership in the industry, Peavy served many years on the Brick Industry Association (BIA) Board, BIA Region 9 and as past president of Brick Southeast. He currently serves on the Georgia Mining Association (GMA) board and the Southeast Concrete Masonry Association (SCMA). Peavy resides in Macon with his wife, Kate. They have two children and are awaiting the arrival of twin granddaughters on the way.

    Georgia Peace Officer Standards and Training Council

    Andy Hester and Ray Paulk were reappointed.

    State Board of Education

    Leonte Benton and Rich Valladares were reappointed. 

    Courtney Dove attended the University of Georgia where she earned a B.A. in political science and master’s in teaching. She went on to teach United States history, world history, government and Georgia studies at Winder-Barrow High School and Dodgen Middle School. She has served as department chair and a county representative of her department. Dove has also worked at Riverstone Church as the preschool and kindergarten lead and regularly volunteers at her children’s schools in various capacities. Additionally, she advocates for congenital heart defect awareness and serves as a heart swap chair for Children’s Healthcare of Atlanta.  Courtney lives in Marietta with her husband David and their three children.

    Kristi Garrett has been with RA-LIN & Associates, Inc. since 2008, where she is the chief marketing officer. A graduate of Auburn University with a degree in business administration-marketing, Garrett initially worked in the healthcare industry before taking time to focus on her family. In 2018, she became a managing partner of Southern Home & Garden/ACE Hardware until its sale in 2021. At RA-LIN, she focuses on building relationships, fostering growth, and inspiring success. Beyond her professional career, Garrett is a dedicated community leader, serving on the Carroll County Chamber Board, the Tanner Foundation Board of Trustees, and participating in local organizations. A Carrollton, Georgia native, Garrett is married to Ben Garrett, and together they have four children. 

    Melanie Stockwell has had a longstanding passion for Georgia public education, beginning with her role as general counsel for the Department of Education from 1996 to 2003. She then served in various capacities in the Georgia State Senate, including as chief of staff to President Pro Tempore Eric Johnson, where she provided legal counsel and policy expertise, particularly in education. After her time in the Senate, Stockwell worked on policy initiatives for political candidates and later held a position at the Georgia Department of Labor before leaving full-time work in 2013 to focus on family. She became deeply involved in school volunteering, serving on PTSA boards and local school councils. After her youngest child graduated, she worked as a front desk receptionist at Lakeside High School for five years, supporting teachers and administrators. She holds a B.A. in political science from Carson-Newman College and a law degree from the University of Virginia. Melanie and her husband, Mitch, reside in DeKalb County with their two young adult children.

    Lake Lanier Islands Development Authority

    Alan Gravel and Stephen Syfan were reappointed.

    Walter “Bill” Frobos is CEO and one of the owners of Lanier Treatment Center. He graduated from the University of Georgia with a B.S.A. Frobos worked for Leon Farmer & Co. for 20 years in management and marketing. He is also a licensed real estate agent with Southern Heritage Land Co. In 2005, he saw a need to help those that had inadvertently became addicted to opiates. Frobos founded Lanier Treatment Center with a local physician and another business partner to offer medication assisted treatment. His goal and philosophy have always been to focus on providing the best outpatient treatment by using quality and well-trained counselors to help the clients to live a healthy, sober life.

    Georgia Council on Aging

    Kenneth Brooks, Maureen Kelly, Ruth Lee, Patricia Lyons, Adrienne Mims, and Ashton Windham were reappointed. 

    Pamela Cushenan is an experienced dental hygienist and educator based in Marietta, Georgia. She holds an associate of science in dental hygiene from Tennessee State University and MeHarry Medical College, a bachelor’s and master’s in health arts and training & development from the University of St. Francis, and a graduate certificate in Gerontology from Georgia State University. With over 30 years of experience in dental hygiene, Cushenan has served in various clinical roles, from private practice to teaching at Georgia State University, where she has been a faculty member since 2005. She is involved in numerous professional organizations, including the Georgia Dental Hygienists’ Association (GDHA) and the Special Care Dentistry Association (SCDA), where she has held leadership positions. Her research contributions include serving as principal investigator on studies related to oral health and aging, and she has received several accolades for her work, including the Georgia Dental Award of Merit and the 2020 Carl V. Patton President’s Award for Community Service & Social Justice. Cushenan is passionate about advancing dental hygiene through education, advocacy, and specialized care for seniors and individuals with special needs.

    Elizabeth Schulze is the long-term care ombudsman program coordinator and CEO of North Georgia Programs and Services. In her role, she advocates for long-term care residents through routine facility monitoring, facility consultation, providing information and assistance to the public and other agency officials, training for facility staff, and community education. Schulze has a bachelor’s in biology and is working towards her Master of Public Administration at the University of Georgia. While earning her undergrad degree, Schulze worked as a caregiver for people with developmental disabilities and older adults. Her interest in the aging population deepened during her time as a caregiver in Assisted Living and Nursing Homes, which led her to earn an A.S. in Gerontology. She has previously held positions as program coordinator at Athens Community Council on Aging and as a Medicaid case manager for an Oregon Area Agency on Aging.

    Board of Juvenile Justice

    Danny Lee Blackmon and Sandra Heath Taylor were reappointed.

    Gary McGiboney is executive director of the government and education program with Sharecare. Prior to his role at Sharecare, McGiboney worked for over 30 years in the advancement of education and educational services as the Deputy Superintendent at the Georgia Department of Education and as the Deputy Superintendent of Support Services for Dekalb County Schools. McGiboney has a Ph.D. in psychology from Georgia State University. Throughout his career, he has been the recipient of many awards and accolades. McGiboney currently serves on the Council of Alcohol and Drugs.

    Western Circuit Public Defender Supervisory Panel 

    William “Billy” Rennie graduated from the University of Georgia in 2005 with a degree in speech communications and the University of Georgia School of Law in 2011. Billy began his legal career representing indigent defendants in Athens-Clarke and Oconee Counties. In 2014, Rennie opened the Law Office of William R. Rennie, LLC and joined the Law Office of Russell W. Wall, LLC as of counsel, working primarily as the firm’s lead litigator. Rennie has won jury trials in Athens-Clarke, Oconee, Greene, Morgan, Putnam, Oglethorpe, and other surrounding Counties. He is a graduate of and a former facilitator for the Oconee Chamber of Commerce’s Leadership Oconee program, and previously served on the Oconee County Chamber of Commerce’s Board of Directors, the Oconee County Arts Foundation’s Board of Directors, and the University of North Georgia Advisory Board. Billy’s hobbies include golf, soccer, and reading. He lives in Watkinsville with his wife and daughters.

    Coweta Circuit Public Defender Supervisory Panel

    Brian Lewis is a partner with the Kam, Ebersbach and Lewis, P.C Law Office and has been practicing there for over 20 years. He specializes in plaintiff personal injury and criminal defense. Before going into private practice, he served as an assistant district attorney for the Cowette Judicial Circuit. Lewis has a bachelor’s in finance and real estate, and a Juris Doctorate from the Emory School of Law. He is an active member of St. Paul’s Episcopal Church in Newnan, where he served two terms as senior warden and currently serves as the chair of the Strategic Planning Committee. Brian is a member of the Board of Trustees for The Heritage School and is the chair of the Governance Committee, is a former chairman of the Board of Trustees for the Carolyn Barron Montessori School in Newnan, and supports local organizations and charities, such as The Coweta Samaritan Clinic, One Roof, Coweta Food Pantry, and the Lindsey Riggs Memorial Foundation.

    Georgia Board of Private Detective and Security Agencies

    Pamela Griggs, Tripp Mitchell, and Joel Peacock were reappointed. 

    David Sawyer is a forensic accountant and financial crimes investigator with extensive experience in both civil litigation and criminal prosecution. Sawyer currently works for Sawyer & Company as a private investigator. With over 300 investigations involving fraud, corruption, financial damages, and various legal disputes, he has provided expert witness testimony in more than 20 cases. He has also contributed to the development of software designed to detect fraud, waste, and white-collar crime, and has advised on global initiatives to combat issues such as economic espionage, terrorist financing, and money laundering. Sawyer attended the University of Auburn and received a bachelor of science in accounting. He has had roles as a partner at a top 50 regional CPA/advisory firm and a managing consultant with two big four accounting firms. He also has experience as an internal auditor for Fortune 500 companies. Additionally, Sawyer is a licensed private investigator. He is an active member of several professional organizations, including the Georgia Chapter of Certified Fraud Examiners, the Georgia Society of CPA’s Fraud and Forensic Services Advisory Council, and the Association of Certified Anti-Money Laundering Specialists (ACAMS). He also serves as co-chairman of the Atlanta Chapter of ACAMS and is on the Executive Committee of Business Executives for National Security (BENS). A graduate of Auburn University, Sawyer has also served as an adjunct professor and guest lecturer on fraud examination and forensic accounting.

    Stone Mountain Memorial Association

    Joan Thomas was reappointed. 

    Georgia Board of Landscape Architects 

    Betsey Norton and Jon Williams were reappointed.

    State Licensing Board for Residential and General Contractors

    Devell Frady is the owner of Devell Frady Homes. He is a custom home builder based out of Ellijay. Frady has been in the construction business for over 20 years. He is the former president of the Georgia High Country Builders Association and has extensive knowledge of the licensing and permit process.

    North Georgia Mountains Authority

    Charles DePriest serves as the executive vice president of Summit Materials’ East Segment. He brings more than 25 years of extensive experience in finance, operations, and executive leadership to his role. In 2016, he co-founded Georgia Stone Products, a construction materials producer in Georgia. Georgia Stone Products was acquired by Summit Materials in 2017 and has emerged as a cornerstone component in Summit’s greenfield growth strategy. His previous roles at Summit include East Region CFO, Leader of Enterprise Standardization, and Central Region President. A veteran of the U.S. Army, Charles holds a bachelor of professional accountancy from Mississippi State University, an MBA from Mercer University, and is an active CPA and Chartered Global Management Accountant. DePriest is an at-large representative on the Board of Natural Resources.

    Mark Hennessey works for Hennessy Automobile Cos. in Atlanta, Georgia. Hennessy has served on the Board of Trustees for the Marist School in Atlanta and is a member of the Buckhead Coalition. He served on the first BRAC Commission for Fort McPherson. He was a member of the North Fulton CID for over eight years. He had the pleasure to serve on the Board of the Technical College System of Georgia from April 2020 until spring of 2023, when he was appointed to serve on the Board of Natural Resources.  

    Lesley Reynolds is the chair of the Board of Natural Resources. She is a native of Baldwin County, Georgia, and a graduate of Georgia Military College and Georgia College and State University. Reynolds taught elementary school at Midway Elementary in Milledgeville. She has and is engaged with several organizations that focus on education, Judeo-Christian values, and women’s safety and security.

    Harley Yancey is the president of State Mutual Insurance Company in Rome, Georgia, where he also serves on the company’s Board of Directors. He joined State Mutual in 2018 after practicing law at Brinson, Askew, Berry, Seigler, Richardson & Davis, LLP. Prior to becoming president, he served as the company’s general counsel and now manages its day-to-day operations. Yancey holds a bachelor of business administration from the University of Georgia’s Terry College of Business, a Juris Doctor from the University of Georgia School of Law, a master of laws from the University of Alabama School of Law, and a master of business administration from the University of North Carolina. Outside of his role at State Mutual, Yancey is the chairman of the Georgia Life & Health Insurance Guaranty Association, a director for the Oklahoma Life & Health Insurance Guaranty Association, and serves on the Board of Directors for United Community Bank of Rome. He is also involved with the YMCA Board of Trustees, the Darlington School Alumni Council, and the Georgia School of Law Alumni Council. He is the 14th Congressional District representative on the Board of Natural Resources.

    Georgia Commission for the Deaf and Hard of Hearing

    Chelsea Tehan was reappointed.

    Stormey Cone is currently the director of the deaf and hard of hearing family engagement and education program at the Georgia Department of Education. Cone is particularly passionate about ensuring access to services in rural Georgia and has a wealth of experience in the education of deaf and hard of hearing students, especially those enrolled in rural school districts. Cone is a former educator that worked with deaf and hard-of-hearing students in public schools for many years. Recently, she has specialized in improving Georgia’s early identification and intervention for young deaf and hard-of-hearing infants. Cone was the inaugural parent navigator for the Georgia Mobile Audiology, traveling around the state to develop a better understanding of parents’ experiences with diagnosing infants with hearing loss. 

    Russell Fleming has held many leadership positions in agencies that serve deaf and deafblind communities. Among other positions, he was state coordinator for Vocational Rehabilitation Services for the deaf, hard of hearing, and deafblind consumers and dean of students and interim superintendent at the Georgia School for the Deaf.  In his retirement, he serves as vice president of the Georgia Association of the Deaf and works part time as a deafblind Specialist. 

    Byron Smith is the father of a deaf child who uses ASL. He and his wife are hearing and had no contact with the deaf community before adopting their daughter. They are learning ASL as adults to provide the best language and learning environment for their daughter. He has been a fire fighter since 1993, working for U.S. Army, the U.S. Navy, the U.S. Airforce, and the National Park Service.

    DeAnna Swope has held several positions of leadership in the deaf community. She currently works in the field of domestic violence where she educates hearing agencies on how to offer more culturally and linguistically accessible services for deaf and hard of hearing survivors of domestic violence survivors. Swope has received accolades, such as the prestigious Gender Justice Award from the Georgia Commission on Family Violence as well as Collaborate awards from the Georgia Coalition Against Domestic Violence. In 2020, she was honored with a distinguished deaf community leader position at Hamilton Relay. She is a past president of the Georgia Association of the Deaf.

    State Forestry Commission 

    Ken Sheppard was reappointed.

    State Board of Occupational Therapy

    Deborah Hinerfeld is the owner and director of Tic Tok Occupational Therapy Services in Roswell, GA. Hinerfeld holds a Ph.D. in Health Science with a concentration in health care administration and public policy from Trident International University. She also earned a master’s in health care policy and administration from Mercer University and a bachelor’s in occupational therapy from Utica College. Hinerfeld has extensive experience in occupational therapy, having worked in various roles including private practice owner, adjunct professor, and staff therapist at several institutions. She holds certifications in sensory integration, behavioral intervention for tics, hippotherapy, and youth mental health. Additionally, she has contributed to research, presented at numerous conferences, and held leadership positions within professional organizations such as the American Occupational Therapy Association. 

    Georgia Superior Court Clerks’ Cooperative Authority

    Trevor Addison is the clerk of Putnam County’s Superior and Juvenile Courts and has since taken on additional roles as clerk of State Court, Juvenile Court, appeal administrator to the Board of Equalization, and jury manager. Previously, Addison served as a commissioner for Putnam County. During his tenure he served on multiple boards, including the Sinclair Water Authority and the Central Georgia Joint Development Authority, and was appointed vice chairman of the Board of Commissioners. He also serves as treasurer of the Putnam County Law Library Board of Trustees and is active on the Putnam General Hospital Foundation Board, the Legislative Committee of the Georgia Superior Court Clerk Cooperative Authority, and the Executive Board of the Putnam County Republicans. Trevor remains dedicated to serving his community at both the local and state levels.

    Board of Directors of the Georgia Regional Transportation Authority

    Dick Anderson, Frank Auman, Jace Brooks, William Tate, Jr. and BobVoyles were reappointed.

    Himanshu Karnwal is the founder and CEO of ISHTECH INC, an IT Solutions architecture and design company that has been successfully operating for over 12 years. With 25 years of experience in the information technology industry, he has worked alongside Fortune 100 companies, including Sony Pictures, NBC Universal, eBay, and Nike, helping to design and manage global IT infrastructures. In addition to his business achievements, Karnwal is an active community leader. He serves as a planning commissioner for Johns Creek and is a member of the board of directors for the Johns Creek Chamber of Commerce. He is also involved with several other organizations, including Rotary Johns Creek North Fulton and the advisory boards of Quantiphi and Waypoint 2 Space. Karnwal is a strong advocate for the Indian and Asian communities in North Fulton, Johns Creek, and South Forsyth. He is the founder and chairman of a National Indian Association in the greater Atlanta area and serves on the board of the Georgia chapter of U.S. Impact, an organization that represents the Indian American community.

    Jai Bum Park immigrated to the United States from Korea in the late 1980s and quickly transitioned into the telecommunications industry. He made the decision to leave college and focus on growing his business, starting in Chicago and later expanding his operations. In the early 2000s, Park relocated to Georgia, where he became a Master Coin Operated Amusement Machine (COAM) license holder and played a key role in generating millions of dollars for the Georgia Lottery Corporation, supporting the Georgia HOPE Scholarship. In 2009, Park served as chairman of the Korean Association of Augusta, working to integrate Korean-Americans into American society. In addition to his business endeavors, he has invested in real estate across Georgia. A strong believer in the concept of the “whole person,” Park is committed to personal growth and fostering meaningful connections. 

    State Board of Pharmacy 

    Michael Azzolin was reappointed.

    Board of Directors of the Georgia Lottery Corporation 

    Missy Burgess was reappointed. 

    Board of Economic Development

    Sandra Bland is the president of Vidalia Brands, Inc. and director of marketing for Bland Farms, where she has been instrumental in popularizing the Vidalia Sweet Onion. Her innovations include incorporating Vidalia onions into processed foods and expanding their reach across the U.S. Bland’s early entrepreneurial efforts included running a mail-order business that helped Vidalia onions gain widespread recognition. Under her leadership, Vidalia Brands champions sustainability by minimizing food waste. Before her role at Bland Farms, she attended College of Coastal Georgia where she received a degree in nursing. Bland built a career in healthcare, holding significant nursing positions. She is actively involved in Southern Roots Women in Produce and supports various philanthropic causes, including St. Jude Children’s Research Hospital. Bland, a devoted community member and family matriarch, resides in St. Simons Island with her husband, Delbert, and their three children and ten grandchildren.

    Board of Corrections

    Bruce Carlisle, Donnie Pope, W.D. Strickland and Rose Williams were reappointed.

    Chris Clark will now serve as the Seventh Congressional District Representative. 

    Luis Solis will now serve as the Ninth Congressional District Representative. 

    Ester Fleming will now serve as the Thirteenth Congressional District Representative. 

    Barry Babb will now serve as an At-Large Representative

    Stacy Jarrard will now serve as an At-Large Representative.

    Kellie Brownlow is the VP of development and community relations at First Step Staffing. First Step Staffing is a 501C3 that uses an alternative staffing model to provide individuals who are homeless, citizens returning from prison, and veterans with immediate employment. Brownlow is responsible for community partnerships and resource development in all five states in which the company has offices, including the headquarter office in Atlanta. Previously, she served as the executive director of the Georgia Alliance of the Boys & Girls Clubs. Before joining Boys & Girls Clubs, Brownlow was the deputy chief to the Cobb County Commission Chairman and director of economic development for Partnership Gwinnett. She holds a bachelor’s degree in communications and political science from Rhode Island College and a master’s degree in public administration for the University of Georgia. Brownlow serves on the State Workforce Development Board. She lives in DeKalb County with her husband and two daughters.

    Rodney Bryant is a retired law enforcement executive with over 34 years of law enforcement experience. Bryant has held numerous key roles, culminating in his position as Chief of Police for the Atlanta Police Department. Throughout his career, he has demonstrated expertise in a wide range of areas including community engagement, crime reduction, crisis management, and public safety leadership. Known for his strong communication, negotiation, and strategic planning skills, he has successfully led teams, improved community relations, and managed multi-million-dollar budgets. Bryant’s achievements include serving as the President of the National Organization of Black Law Enforcement Executives, overseeing the security operations for Hartsfield-Jackson Atlanta International Airport, and managing large-scale events such as the College Football Playoff Championship and Super Bowl LIII. Bryant holds a master of science in administration from Central Michigan University and a bachelor of science in criminal justice from Georgia State University. He is also a graduate of various prestigious law enforcement leadership programs, including the Police Executive Leadership Institute and the FBI LEEDA.

    Georgia Rural Development Council

    Betts Berry, Gabe Evans, Jim Matney, and Stuart Rayfield were reappointed.

    Bárbara Rivera Holmes is president and CEO of the Albany Area Chamber of Commerce. Holmes is likewise CEO of the Albany Area Chamber Foundation. In 2018, Holmes was appointed by then Georgia Gov. Nathan Deal to serve on the Board of Regents of the University System of Georgia, for which she chaired the Committee on Economic Development. In 2020, Holmes was appointed by then Georgia Lt. Gov. Geoff Duncan to co-chair the Rural Initiatives Subcommittee of the Georgia Innovates Task Force to help design the state’s innovation blueprint. Holmes is a former journalist whose work has earned four awards for excellence in journalism from the Georgia Associated Press. Prior to her role at the Albany Area Chamber, Holmes was vice president of the Albany-Dougherty Economic Development Commission, where she developed the organization’s business retention and expansion program to facilitate existing industry job creation and capital investment in Albany-Dougherty County, and its marketing programs. Holmes is a 2014 graduate of Leadership Georgia, and served on the organization’s Board of Trustees; a 2022 participant of the U.S. Chamber Foundation Business Leads Fellowship Program; and a 2023 graduate of the U.S. Chamber Foundation’s Institute for Organization Management. She serves on the boards of the Georgia Chamber of Commerce and the Commodore Conyers College and Career Academy. She graduated from Florida Southern College in Lakeland, Florida, with degrees in journalism and in Spanish. She continued her studies at Estudio Sampere Internacional in Madrid and Alicante, Spain. She lives in Albany with her husband, David, and their daughter.

    Sheriff’s Retirement Fund

    Dan Kilgore is the elected Sheriff of Upson County, a position he has held since January 2013. With over 40 years of experience in law enforcement, Kilgore’s career has spanned a variety of roles, including serving as a sheriff’s deputy, city police officer, county police officer, and district attorney’s investigator. Prior to his election as Sheriff, he dedicated more than 21 years of service as the chief deputy sheriff of Upson County. Kilgore is deeply involved in the law enforcement community and holds several leadership positions. He serves as vice chairman on the Board of the Peace Officer’s Annuity and Benefit Fund and is an advisory member of the Georgia POST Council. Additionally, he is the Georgia Sheriff’s Association Area 4 regional vice president. In 2023, he earned his certification as a retirement plan fiduciary, awarded by the Georgia Association of Public Pension Trustees. Outside of his professional endeavors, Kilgore is a devoted family man, married to his wife, Renae, and the proud father of three adult children and one grandson. The Kilgore family are active members of the First Methodist Church of Thomaston.

    Horace “Billy” Hancock started his career in public safety in 1976, and he is currently serving his 3rd term as Sheriff of Crisp County. He has also served as the emergency management director of Crisp County since 2014. Hancock began his career as an emergency medical technician with Crisp County EMS. He has spent over 40 years in law enforcement, first sworn in in 1979 as a part-time deputy with the Crisp County Sheriff’s Office. He later went to work for the Georgia State Patrol. He returned to the Crisp County Sheriff’s Office in 1990. He held the position of chief deputy for 19 years and served as the deputy director of the Crisp County Emergency Management Agency for 14 years. He is a graduate of the 57th Georgia State Patrol Academy. He has an associate degree in criminal justice, a master’s certificate in emergency management, and a bachelor’s from Columbia Southern University in homeland security. Hancock was appointed and has served as a board member of the Georgia Peace Officer’s Standards and Training Council (the ABAC Region). He is past vice president of the Georgia Peace Officers Association and is an active member of both the Georgia and National Sheriff’s Association. He continues to teach on the state and federal levels. Hancock began serving as a lion with the Cordele Lions Club in 2001 and has received numerous awards from the organization. In 2018, Governor Nathan Deal appointed Hancock to the Georgia Emergency Communications Authority (GECA) Board. Hancock was also reappointed to the GECA Board by Governor Brian Kemp. Hancock is a member of the Cordele Church of Christ.

    Frank Reynolds was sworn into office on January 1, 2017, as the 39th Sheriff of Cherokee County, Georgia. Reynolds has been a resident of Cherokee County since 1981. He began his law enforcement career in 1994 with the Cherokee Sheriff’s Office. Reynolds is committed to serving Cherokee County with honesty, transparency, and integrity. As a Georgia Constitutional Officer, Reynolds is mandated to oversee warrant service and civil process, maintain the adult detention center, courthouse security and provide general law enforcement within Cherokee County. He is a graduate of Riverside Military Academy, earned a bachelor’s degree from Reinhardt University and holds a master of public administration from Columbus State University. Reynolds is a graduate of the FBI National Academy in Quantico, Virginia class 244, and the Georgia Law Enforcement Command College. He is married to Dr. Jennifer DeBord Reynolds and is the proud father of three.

    Georgia Technology Authority

    Marie Mouchet is an accomplished technology and cybersecurity executive currently serving as a member of the Board of Advisors for Mimic and HData and managing director of Mouchet Ventures LLC. Her extensive experience and leadership on various boards demonstrates her exceptional talent and commitment to driving innovation and education across industries and also exemplifies her dedication to leveraging her knowledge and insights to make a positive impact in the community. Previous roles include senior vice president and CIO at Colonial Pipeline Company, where Mouchet led technology strategy and operations across both IT and OT domains, vice president and CIO at Southern Company Operations & Southern Nuclear, and director of financial and contract services at Southern Company’s Southern Wholesale Energy. She has served in various board positions, including board advisor and chairman of Georgia CIO and board secretary of the Women In Technology (WIT) Foundation. Marie holds advanced degrees from Georgia State University and completed executive education at the Stanford University Graduate School of Business. Her remarkable contributions to the industry and community led to her being honored with the highly regarded and prestigious Ed Steineke CIO Award by TechBridge in 2020.

    Board of Commissioners of the Judges of the Probate Courts Retirement Fund of Georgia

    Annie Doris Holder has served as the Probate and Chief Magistrate Judge of Calhoun County for the past 24 years, dedicating her career to providing fair and courteous service to the citizens of her community. A committed public servant, she strives to ensure that all individuals receive just and equitable treatment under the law. Holder is a proud graduate of Calhoun County High School and holds an associate degree from Darton College, a bachelor’s degree from Albany State University, and a master’s degree from LaGrange College. Beyond her judicial responsibilities, she is actively engaged in community service. She currently serves as the president of the missionary department of the Southwest Georgia Missionary Baptist Association, the district associate matron of Cuthbert District #13 OES, and a board member of Albany Technical College. Holder is married to Rev. Julian Holder and they share three daughters, as well as nine beloved grandchildren. 

    State Board of Veterinary Medicine 

    Matthew Bradley and Wendy Cuevas-Espelid were reappointed.

    Seth Stowers grew up on a small family farm in Dawsonville, Georgia. In 2005, he began his own small beef cattle operation that he continues to grow today. Stowers graduated from the University of Georgia in 2014 where he received a bachelor of science in poultry science. While at UGA he was active in UGA Cattleman’s Association, Block and Bridle, UGA Poultry Science Club, and competed on UGA’s Poultry Judging Team. Dr. Stowers attended the University of Georgia College of Veterinary Medicine where his studies were emphasized in food animal medicine and production. He graduated with his doctor of veterinary medicine in 2018. Throughout the curriculum at UGA CVM, he lived and worked at Rose Creek Farm, UGA’s Veterinary School farm. To gain a better knowledge and develop his skills in cattle medicine he completed externships at Krebs Ranch in Nebraska and bovine veterinary practices in Texas, West Virginia, North Carolina, and Georgia. Stowers began Hillside Veterinary Services in May of 2018. His professional interests encompass anything involving beef cows, especially herd health and preventative medicine. Stowers is excited to have an opportunity to give back to FFA and 4-H, two programs that provided him with numerous opportunities, through working with local youth. In 2023, he was elected to serve as the district 1 Commissioner on the Dawson County Board of Commissioners.

    John Tarabula is a seasoned veterinary professional with over 30 years of experience in small animal and exotic medicine. He earned his D.V.M. and B.S. degrees from the University of Georgia and has served as the medical director at the Animal Medical & Surgical Center in Canton, Georgia, since 1988. Additionally, he is the owner of Creekside Animal Hospital in Cumming, Georgia, where he has been practicing since 2015. Tarabula’s extensive career also includes roles as an associate veterinarian at Beach St. John Animal Hospital in Jacksonville, Florida, and as an emergency clinician at Jacksonville Veterinary Emergency Clinic. Beyond clinical practice, Tarabula is actively involved in professional service, having served on the Board of Directors for Cobb and Cherokee Emergency Veterinary Clinics, as well as holding leadership positions within the Georgia Veterinary Medical Association. He also has a history of public service, having been a city councilman and Mayor Pro-Tem in Holly Springs, Georgia. Tarabula has participated in medical missions with the Flying Doctors of America, providing veterinary care in Ecuador, Peru, and Bhutan. 

    OneGeorgia Authority Overview Committee 

    Senator Larry Walker, III and Representative Butch Parrish were reappointed. 

    Georgia Board of Behavior Analyst Licensing Board 

    Christina “Nina” Holland is an experienced office administrator with nearly 20 years of expertise in managing operations both in-office and remotely. She has spent eight years with ICB Construction Group, overseeing contracts, financial management, and accounts, and has worked with Southern Structures Fencing for the past decade. In addition to her professional success, Holland is a passionate advocate for children with autism. After recognizing early on that her son had unique needs, she became dedicated to navigating complex medical and governmental systems to ensure her son received the therapies and care required for his development. Holland’s personal journey through autism advocacy has fueled her desire to help other families, offering support in early intervention, Medicaid, and ABA therapy, while striving to improve access to essential services for children in need.

    Board of Public Safety 

    Neal Jump is currently serving his fourth term as the Sheriff of Glynn County. Jump has been in law enforcement since he was 17 years old. Prior to being elected sheriff, Jump worked with the Georgia State Patrol for more than 30 years, beginning his career as a radio operator in 1975.  Jump studied criminal justice at South Georgia College.

    Georgia Board of Nursing 

    Lydia Watkins is the Dean of the School of Nursing and Health Sciences at College of Coastal Georgia, as well as a professor of nursing. She has worked as a registered nurse since 1997, first in pediatric hematology/oncology at the Children’s Hospital of Alabama, and then as a pediatric hematology/oncology nurse practitioner at Sparrow Health System in Lansing, Michigan. She was an adjunct instructor with the Department of Pediatrics and Human Development at Michigan State University’s College of Human Medicine prior to joining the faculty at College of Coastal Georgia. Since joining the college, Watkins has served in other roles such as the BSN program coordinator, interim program director of radiologic sciences, and chair of nursing and health sciences, prior to becoming the dean. Watkins holds a doctor of nursing practice from the University of Alabama at Birmingham, a master of science in nursing from the University of Alabama at Birmingham, a bachelor of science in nursing and an associate of science in nursing from Samford University. She is also a certified nurse educator (CNE) through the National League for Nursing.

    Metropolitan Atlanta Rapid Transit Overview Committee 

    Senator Tonya Anderson, Senator Steve Gooch, Representative Demetrius Douglas, Representative Scott Hilton, and Representative Martin Momtahan were reappointed. 

    Senator Sonya Halpern represents Senate District 39 and is the Minority Caucus Vice Chair. Halpern was elected to the General Assembly in 2020. She is the vice chair for the Committee on Urban Affairs and a member of Senate Appropriations, the Committee on Banking and Financial Institutions, the Committee on Education and Youth, the Committee on Health and Human Services, and the Committee on Public Safety.

    Soil and Water Conservation Commission 

    Jim Waters is a local farmer from Blackshear, Georgia. He is the elected Pierce County Supervisor for Satilla River Conservation District. He also serves as the chairman. He is a full-time farmer, planting crops that consist of cotton and peanuts. He is passionate about educating the community on conservation efforts and farmers on good conservation practices to protect our croplands.

    Nonpublic Postsecondary Education Commission 

    P.K. Martin, Doug Roper, Jim Squire, and Pranay Udutha were reappointed. 

    Michael Foor is the president of state operations for Georgia for Kinetic. Foor previously served as vice president of state government affairs in Georgia, building relationships with legislators, electric cooperatives, and communities to support the deployment of rural broadband. Prior to joining Kinetic, Foor was the president of Georgia Communications Cooperative and part of Habersham Electric Membership’s efforts to build fiber-to-the-premise broadband service to communities in North Georgia. In addition to his responsibilities at Kinetic, Foor currently serves as chair for White County Development Authority and is a past president of Habersham Rotary Club, where he remains an active member. Foor holds an M.B.A. from Brenau University. He lives in Cleveland with his wife. They have three daughters and twin grandsons

    MIL OSI USA News

  • MIL-OSI USA: Turkana Food Recalls Aleppo Tahini Sesame Paste

    Source: US State of Rhode Island

    The Rhode Island Department of Health (RIDOH) is advising consumers that Turkana Food Inc. is recalling 858 cases of Aleppo Tahini Sesame Paste because it has the potential to be contaminated with Salmonella.

    Salmonella can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems. Healthy people infected with Salmonella often experience fever, diarrhea (which may be bloody), nausea, vomiting, and abdominal pain. In rare circumstances, infection with Salmonella can result in the organism getting into the bloodstream and producing more severe illnesses such as arterial infections (i.e., infected aneurysms), endocarditis, and arthritis.

    The recalled Aleppo Tahini Sesame Paste was distributed in many states, including Rhode Island and Massachusetts.

    Product details:

    – The product packaging is a 16oz plastic jar with a gold lid and gold label marked Aleppo Sesame Paste Tahini. – LOT# 120824-01 can be found on the top portion of the jar. – UPC Label 854643003054 marked by a sticker on the side of the jar. – Expiration Date August 2026, which can be found on the top portion of the jar.

    The recall was the result of a routine sampling performed by the Ohio Department of Agriculture which revealed that the finished products contained Salmonella. The company has ceased production and distribution of the products as FDA and the company continue their investigation into what caused the problem. Consumers who purchased Aleppo Sesame Paste Tahini With lot code 120824-01 should not consume the product and they are urged to return it to the place of purchase for a full refund.

    Consumers with questions may contact Turkana Foods Inc. (info@turkanafood.com).

    MIL OSI USA News

  • MIL-OSI United Kingdom: Businesses invited to find out about the benefits of digital transformation

    Source: Northern Ireland – City of Derry

    Businesses invited to find out about the benefits of digital transformation

    10 February 2025

    Local businesses are being invited to find out more about how their enterprise could benefit from improved digital capability assisted by the Digital Transformation Flexible Fund (DTFF).

    An information session will take place in the Everglades on 27th Feb, from 10am to 12.30pm delivered by the William J Clinton Institute at Queen’s University Belfast. Members of Derry City and Strabane District Council’s Business Team will also be on hand to provided tailored advice and information about the programme and the many benefits. Eligible businesses can apply for capital grant funding between £5000 and £20000 to support their business transformation journey to accelerate digital ambitions.

    The Fund is delivered by all local authorities in Northern Ireland under the Full Fibre Northern Ireland Consortium (FFNI) and supported by Invest NI. The project is part funded by the NI Executive, UK Government, Department of Agriculture, Environment and Rural Affairs (DAERA) and all local authorities.

    Looking ahead to the event, Business Development Manager with Council, Danielle McNally said: “This is a unique and innovative funding opportunity for businesses to introduce new technologies that will really enhance both their profile and their performance. Many local enterprises are unaware of the support that’s out there and we are happy to advise on how they can best leverage opportunities like the DTFF to get the maximum benefit for their venture.

    “I would really encourage anyone interested in digital transformation to come along and find out more about how they can harness the latest digital technologies in the most effective way.”

    The closing date for Expressions of Interest to this call closes on 14th March and businesses are encouraged to attend the information session to see what the fund can do for them. Other local businesses will also be on hand on the day to share their experiences of engaging with the DTFF programme to date.

    The information session will help identify the types of technology funded, the application process and the importance of leveraging this unique opportunity to address financial barriers to the adoption of advanced digital technologies.

    Businesses can register to attend here – https://dtff.co.uk/pre-briefing-sessions/

    MIL OSI United Kingdom

  • MIL-OSI USA: Finger Lakes Winners of DRI and NY Forward Programs

    Source: US State of New York

    Governor Kathy Hochul today announced that Canandaigua will receive $10 million in funding as the Finger Lakes winner of the eighth round of the Downtown Revitalization Initiative, and the Villages of Brockport and Phelps will each receive $4.5 million as the Finger Lakes winners of the third round of NY Forward. For Round 8 of the Downtown Revitalization Initiative and Round 3 of the NY Forward Program, each of the state’s 10 economic development regions are being awarded $10 million from each program, to make for a total state commitment of $200 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods.

    “By investing in the future of these Finger Lakes communities, this funding will revitalize their downtown areas by building vibrant and thriving destinations where businesses, families, and visitors can flourish,” Governor Hochul said. “With our Pro-Housing Communities initiative, we’re giving local leaders the tools to transform their cities, towns and villages into hubs of opportunity, culture, and affordable living. This is how we build stronger, more connected communities that work for everyone across New York.”

    To receive funding from either the DRI or NY Forward program, localities must be certified under Governor Hochul’s Pro-Housing Communities Program – an innovative policy created to recognize and reward municipalities actively working to unlock their housing potential and encourage others to follow suit. Governor Hochul’s Pro-Housing Communities initiative allocates up to $650 million each year in discretionary funds for communities that pledge to increase their housing supply; to date, 273 communities across New York have been certified as Pro-Housing Communities. This year, Governor Hochul is proposing an additional $110 million in funding to cover infrastructure and planning costs for Pro-Housing Communities.

    Many of the projects funded through the DRI and NY Forward support Governor Hochul’s affordability agenda. The DRI has invested in the creation of more than 4,400 units of housing – 1,823 of which are affordable or workforce. The programs committed over $8.5 million to 11 projects that provide affordable or free childcare and childcare worker training. DRI and NY Forward have also invested in the creation of public parks, public art (such as murals and sculptures) and art, music and cultural venues that provide free outdoor recreation and entertainment opportunities.

    $10 Million Downtown Revitalization Initiative Award for Canandaigua

    Downtown Canandaigua is poised to be, and is already becoming, a residential and recreational hub of the Finger Lakes region. With anticipated growth related to programming and investment focused on the semiconductor industry, an investment in this transformation will help the region to put its best foot forward when recruiting future businesses, workers and residents. The City of Canandaigua seeks to connect the Canandaigua Lake waterfront via safe, quality walking and biking pathways that complement the existing streets. The City is focused on projects that will create a diverse mix of businesses, housing, events and arts in its downtown that create a vibrant atmosphere for residents and visitors of all backgrounds.

    $4.5 Million NY Forward Award for Brockport

    The Village of Brockport is an Erie Canal town, college town and central hub of activity for its own residents and those of other nearby small towns and villages. Brockport prioritizes living its history and bridging it to a thriving and culturally rich future in the Finger Lakes region. The Village’s downtown focus area centers on Main Street and adjacent side streets that offer several attractions for residents and visitors. This area highlights Brockport’s historic downtown corridor, canal front parcels and portions of historic districts on the Village’s west and east sides. The Village seeks to transform its historic downtown corridor into an accessible tourist destination and a home where visitors, residents and people of all abilities can recreate, socialize, live and age in comfort.

    $4.5 Million NY Forward Award for Phelps

    The Village of Phelps, a historically significant community with a population of 1,900 residents, is strategically positioned near major transportation routes, making it easily accessible for both residents and visitors. The Village’s walkable downtown area encompasses municipal parks, cultural and recreational attractions, museums and the multi-use community center. Its application is focused on streetscaping and aesthetic upgrades, so that no matter what route a resident or visitor might take through downtown, the path from one destination to the next will be interesting and attractive.

    New York Secretary of State Walter T. Mosley said, “The Downtown Revitalization and NY Forward programs work together to re-energize downtowns of all sizes across our State. Our newest winners for the Finger Lakes region – Canandaigua, Brockport and Phelps – will all leverage existing cultural, natural and historical assets to transform their downtowns into economic engines for their residents and the entire region. The Department of State looks forward to seeing the projects these communities select and how they will positively impact the region for generations to come!”

    Empire State Development President, CEO and Commissioner Hope Knight, said, “Under Governor Hochul’s leadership, the DRI and NY Forward programs continue to support projects that generate new investments and encourage transformational change in towns and communities throughout New York State. These plans from Canandaigua, Phelps and Brockport will revitalize downtown businesses, historic districts and waterfronts and spur economic development that will benefit residents and visitors to the beautiful Finger Lakes region.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Our local partners in Canandaigua, Brockport, and Phelps should be proud of their efforts to build vibrant and affordable neighborhoods that create new homes and new jobs. This State investment of nearly $20 million will give these certified Pro-Housing Communities the resources they need to thrive for generations to come. We thank Governor Hochul for her continued leadership on tackling the housing crisis and making the Finger Lakes a more affordable place to live and work.”

    Finger Lakes Regional Economic Development Council Co-Chairs Bob Duffy, President and CEO, Greater Rochester Chamber of Commerce, and Dr. Denise Battles, President of the State University of New York Geneseo, said, “The FLREDC is incredibly proud to continue our support for the City of Canandaigua and for the communities of Phelps and Brockport and their exciting futures through the Governor’s transformational Downtown Revitalization and NY Forward Initiatives. These selected, community-driven plans will benefit both residents and visitors alike, promoting economic growth and creating spaces where people will want to live, work, and play for generations to come.”

    New York State Canal Corporation Director Brian U. Stratton said, “With more than 25 Canal communities now among the growing roster of DRI and NY Forward awardees, I know how these important investments can jumpstart powerful change. This year, as we commemorate the Bicentennial of the Erie Canal’s completion and look forward to the opening of the Brockport Pedestrian Bridge, the timing of these awards could not be more welcomed or appropriate. The Canal Corporation sends its most sincere congratulations to Brockport, Canandaigua, and Phelps.”

    Canandaigua Mayor Bob Palumbo said, “On behalf of myself and our DRI team and City Council, I would like to thank the Governor and her team for awarding the $10 million-dollar DRI to the City of Canandaigua. I look forward to seeing the projects we supported in our DRI proposal unlock opportunities that create new jobs, add housing, and public amenities in our downtown.”

    Brockport Mayor Margay Blackman said, “‘It’s all in Brockport’ became our shared vision as we dreamed of what our village could become with a NY Forward grant. The Brockport of our NY Forward dreams is one that works for all – young, old, university student, resident, visitor, tourist. The water brings people, Brockporters say, and we will invest in our waterfront to establish Brockport as the premier, inclusive recreation community on the Erie Canal. What I’m especially proud of today is that 6 people, including our grant writer, crafted a successful proposal, in house, in 2 short years.”

    Village of Phelps Mayor Jim Cheney said, “On behalf of the community of Phelps, we are extremely excited, honored and grateful to be chosen for the NY Forward Grant. The residents of Phelps have been working hard to attract more visitors, businesses and housing to our community; to make it a special place to live, work and play in; and, to fit into the Finger Lakes Region’s economic strategic plan. This investment by the state will help push us over the top in our revitalization efforts. It is important for small communities, such as the Village of Phelps, to receive statewide taxpayer support such as this, to revitalize and thrive. It is in everyone’s best interest to help our local communities’ economies. Thank you to Governor Hochul, Ontario County, the REDC and all community partners for sharing and believing in our vision.”

    Canandaigua, Brockport and Phelps will now begin the process of developing a Strategic Investment Plan to revitalize their downtowns. A Local Planning Committee made up of municipal representatives, community leaders and other stakeholders will lead the effort, supported by a team of private sector experts and state planners. The Strategic Investment Plan will guide the investment of DRI and NY Forward grant funds in revitalization projects that are poised for implementation, will advance the community’s vision for their downtown and that can leverage and expand upon the state’s investment.

    The Finger Lakes Regional Economic Development Council conducted a thorough and competitive review process of proposals submitted from communities throughout the region and considered all criteria before recommending these communities as nominees.

    About the Downtown Revitalization Initiative

    The Downtown Revitalization Initiative was created in 2016 to accelerate and expand the revitalization of downtowns and neighborhoods in all ten regions of the state to serve as centers of activity and catalysts for investment. Led by the Department of State with assistance from Empire State Development, Homes and Community Renewal and NYSERDA, the DRI represents an unprecedented and innovative “plan-then-act” strategy that couples strategic planning with immediate implementation and results in compact, walkable downtowns that are a key ingredient to helping New York State rebuild its economy from the effects of the COVID-19 pandemic, as well as to achieving the State’s bold climate goals by promoting the use of public transit and reducing dependence on private vehicles. Through nine rounds, the DRI will have awarded a total of $900 million to 89 communities across every region of the State.

    About the NY Forward Program

    First announced as part of the 2022 Budget, Governor Hochul created the NY Forward program to build on the momentum created by the DRI. The program works in concert with the DRI to accelerate and expand the revitalization of smaller and rural downtowns throughout the State so that all communities can benefit from the State’s revitalization efforts, regardless of size, character, needs and challenges.

    NY Forward communities are supported by a professional planning consultant and team of State agency experts led by DOS to develop a Strategic Investment Plan that includes a slate of transformative, complementary and readily implementable projects. NY Forward projects are appropriately scaled to the size of each community; projects may include building renovation and redevelopment, new construction or creation of new or improved public spaces and other projects that enhance specific cultural and historical qualities that define and distinguish the small-town charm that defines these municipalities. Through three rounds, the NY Forward program will have awarded a total of $300 million to 62 communities across every region of the State.

    MIL OSI USA News

  • MIL-OSI USA: Italian Government Authority Censures Eyewear Giant Luxottica for Failing to Uphold Fair Union Organizing Standards in U.S. Operations

    Source: Communications Workers of America

    A report by the OECD’s Italian National Contact Point for Responsible Business Conduct (NCP), has exposed global eyewear giant Luxottica for violating workers’ rights during union organizing efforts by the Communications Workers of America at the company’s Atlanta, Georgia logistics center in 2021. Despite publicly embracing its obligations under the OECD Guidelines for Multinational Enterprises, Luxottica failed to rectify these violations and undermined collaborative efforts to address them under the good offices of the NCP’s conciliation mechanism.

    The report concludes a multi-year process initiated by a formal complaint from IUE-CWA, AFL-CIO, IndustriALL, and UNI labor unions regarding Luxottica’s egregious anti-union tactics and failure to uphold internationally recognized labor standards at its U.S. facilities.

    In its Final Statement on the case, published in late December 2024, the Italian authority found that Luxottica rejected the NCP conciliator’s recommendations on fair union organizing by workers in the United States. The Final Statement confirmed the conciliator’s conclusion that the breakdown of the conciliation process was caused by Luxottica’s refusal to recognize the validity of the Guidelines, and the company’s insistence on U.S. law as the only relevant standard.

    Key Findings from the Italian NCP’s Report

    1. International labor standards, and not domestic law, govern any OECD Guidelines proceeding.

    2. Luxottica failed to engage constructively in the conciliation process, in contrast to the union’s efforts.

    3. As per the conciliator’s instructions, Luxottica should have remained neutral regarding union organizing efforts by its workers.

    IUE-CWA President Carl Kennebrew issued the following statement on the Italian NCP’s findings in the case:

    “Luxottica has deliberately violated OECD Guidelines for Responsible Business by interfering with its employees’ freedom of association and collective bargaining rights. Although Luxottica publicly claims adherence to these guidelines, its actions tell a different story, as the company undermined workers’ attempts to organize at its Atlanta facility.”

    “Luxottica global management has made a fundamental mistake by following the advice of its anti-union American lawyers instead of the conciliator’s recommendations. Luxottica’s failure to live up to its obligations under the OECD Guidelines creates reputational and financial risk for the company and its investors as it seeks to expand its global footprint in North America and other regions.”

    “There is still time for Luxottica to rectify its refusal to adopt the Italian conciliator’s recommendations. We urge Luxottica to return to the table with IUE-CWA for agreement on management neutrality and other fair rules for organizing. Many firms have adopted such neutrality agreements with their union, most recently Microsoft and General Electric. Many other companies have reached global framework agreements with unions promising to respect workers’ organizing and bargaining rights worldwide.”

    “If trade unions are unable to reach an agreement with Luxottica on fair rules for union organizing, we will explore other avenues to persuade Luxottica to halt its violations of international standards on workers’ freedom of association in the United States. These include increased engagement with socially responsible investors, and the enforcement of U.S. and European due diligence laws on human rights in Luxottica’s supply chain. But the solution is really simple: Luxottica can apply the same standards of good faith and respect for trade unions that it maintains in Italy to its operations in the United States.”

    IndustriALL General Secretary Atle Høie issued the following statement on the Italian NCP’s findings:

    “This case exposes what the OECD considers actions taken by Luxottica in violation with the OECD guidelines on multinational companies. The conclusions clearly denounce anti union behavior put in place by companies during organizing. Such union busting tactics are not uncommon in the US, but have now been unequivocally condemned by the OECD contact point in Italy. We demand that Luxottica follow the recommendations, take a neutral stance in future organizing activities and invite CWA back to the table.”

    UNI Global Union General Secretary Christy Hoffman issued the following statement on the Italian NCP’s findings in the case:

    “It is shameful that companies operating in the US routinely believe that they can violate international standards with impunity. The NCP in this case did not back down from calling this out as a violation of the Guidelines. The NCP also took a clear decision that the Italian management was responsible for anti-union actions of its US subsidiary, another good precedent. The company should reverse course, follow the rules on which we all depend, and go back to the table with CWA. An end to this kind of union-busting is long overdue.”

    Background and Details

    The report comes at the end of a six-month conciliation process held from September 2023 to March 2024 under the aegis of the National Contact Point (NCP), which is an authority constituted by the Italian Government’s Ministry of Businesses, following the NCP’s review of the unions’ complaint that Luxottica created a “climate of fear” which destroyed an organizing effort by American workers at Luxottica’s North American logistics hub in McDonough (Atlanta), Georgia in 2021.

    Italy-based Luxottica (EssilorLuxottica following its 2017 merger with global French-based lens producer Essilor) is a major employer in the United States, which is its largest single market, with operations in eyewear retail, vision insurance, ophthalmic labs, and lens and frame manufacturing.

    The IUE-CWA, joined by the AFL-CIO and global unions IndustriALL and UNI, complained that management’s aggressive anti-union tactics violated workers’ organizing rights under the OECD Guidelines.

    Luxottica blatantly disregarded these labor principles in 2021 despite its obligations under the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct which call on multinational companies to respect core labor standards, including the right to freedom of association and collective bargaining.

    Instead, as workers at its Atlanta logistics center sought to unionize for better health protections and fair wages during the COVID-19 crisis, Luxottica launched an aggressive anti-union campaign.

    American management at the Georgia center forced employees into “captive-audience” meetings in which managers and anti-union consultants vilified trade unions as swindlers who only want workers’ dues payments, and told employees they could lose pay and benefits if they support the union. Management repeated the same insults and threats in an anti-union website and in text messages, workplace posters, and TV screens throughout the plant. Luxottica interfered with organizers’ access to the workers. The climate of fear and intimidation became so severe that IUE-CWA ultimately withdrew its organizing effort.

    Such actions would be unthinkable in Italy, where unions have long enjoyed collective bargaining relationships with Luxottica management based on good faith and mutual respect. Italian unions joined the call for Luxottica to apply these same principles when workers in its American facilities exercise rights to freedom of association.

    CWA Union representatives were optimistic about reaching an agreement with Luxottica in the NCP conciliation process when it began with a meeting in Rome in September 2023 under guidance of conciliator Enzo Cannizzaro, a prominent Italian international law professor at the University of Rome and at Columbia Law School. The unions hoped to reach an agreement with Luxottica based on the conciliator’s recommendations, which included measures for management neutrality, union representatives’ access to facilities to meet with workers, and other measures adhering to international labor rights standards under the OECD Guidelines.

    The union accepted the conciliator’s recommendations. But, advised by its American anti-union lawyers, Luxottica management refused even to respond to the conciliator’s recommendations. The conciliator closed the proceeding in April 2024 without a resolution to the dispute.

    The Unions contend that Luxottica failed to engage in good faith during the OECD’s six-month conciliation process. Rather than seeking a resolution, the company obstructed the process and ignored opportunities provided to rectify its transgressions.

    In its Final Report, the Italian NCP makes clear why the process failed.The NCP also reiterated the Conciliator’s recommendation as to how the Company should honor the principle of non-interference moving forward:

    “The owners and the management of a Company … should refrain from expressing their opinion on matters of unionisation, under the principle on non-interference, in order to contribute to a fair and equitable framework for industrial relations, as also pursued by the OECD Guidelines.”

    The NCP concluded its Final Report with

    “regrets that it has not been possible to resolve the issues raised by applying the Guidelines,” stressing that “settling the case on the basis of the Guidelines’ provisions, rather than by applying the national law, alone, would have ensured a balanced, constructive and long-lasting solution. Indeed, the Guidelines themselves refer to principles and standards of international law.”

    Final Considerations and Next Steps

    The Italian NCP’s findings put Luxottica at a crossroads. IUE-CWA, AFL-CIO, IndustriALL and UNI union confederations demand that Luxottica adopt a fair framework that guarantees neutrality and non-interference in future organizing efforts across the U.S. By doing so, Luxottica can begin to repair the damage caused by its anti-union practices and demonstrate its commitment to the workers who drive its business forward.

    As pressure mounts, IUE-CWA remains resolute in its fight for fair labor standards and urges Luxottica to make a decisive shift toward responsible business conduct worldwide. The union will continue to monitor the situation closely and advocate for vision workers’ rights at every turn.

    For more information on the NCP Final Statement and its implications for Luxottica’s labor practices, contact CWA Communications at +1 (202) 434-1168 and comms@cwa-union.org

    ###

    About National Contact Points for RBC

    “National Contact Points for Responsible Business Conduct (NCPs for RBC) are agencies established by governments. Their mandate is twofold: to promote the OECD Guidelines for Multinational Enterprises, and related due diligence guidance, and to handle cases (referred to as “specific instances”) as a non-judicial grievance mechanism. To date, 51 governments have an NCP for RBC. Also see: https://mneguidelines.oecd.org/ncps/

    All 51 governments adhering to the OECD Guidelines have the legal obligation to set up an NCP. Today, NCPs make up a network and a community of practitioners, dealing with a wide array of impacts involving companies either through their operations or their supply chains. In 2020, NCPs celebrated 20 years as non-judicial grievance mechanisms. Find out more about NCPs | Browse resources on NCPs

    The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental organization with 38 member countries from Europe, North America, South America and Asia-Pacific, founded in 1961 to stimulate economic progress and world trade. It originates from the organization set up to manage US Marshall Aid to post-WW2 Europe. The United States is one of its founding members. It is headquartered in Paris.

    About CWA

    The Communications Workers of America (CWA) represents working people in telecommunications, customer service, media, airlines, health care, public service and education, manufacturing, tech and other fields. IUE-CWA is the Industrial Division of the CWA, it represents manufacturing and industrial workers in a wide range of industries including automotive, aerospace, furniture, and appliances, and vision.

    About AFL-CIO

    Headquartered in Washington DC, USA, the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) is the democratic, voluntary federation of 60 national and international labor unions that represent more than 12.5 million working people in the United States, Canada and Puerto Rico.

    About IndustriALL Global Union

    IndustriALL Global Union is a global union federation, founded in Copenhagen on 19 June 2012. IndustriALL represents more than 50 million working people in more than 140 countries, working across the supply chains in mining, energy and manufacturing sectors at the global level. The Global headquarters is in Geneva, Switzerland.

    About UNI Global Union

    UNI Global Union, formally Union Network International, is a Global Union Federation for the skills and services sectors, uniting national and regional trade unions. It has affiliated unions in 150 countries representing 20 million workers. The Global headquarters is in Nyon, Switzerland.

    About EssilorLuxottica

    EssilorLuxottica was created through the 2017 merger between French multinational corporation Essilor and Italian multinational corporation Luxottica, with Essilor headquartered in France and Luxottica in Italy. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. With over 200,000 employees across 150 countries, 650 operations facilities and 18,000 stores, in 2023 the Company generated consolidated revenue of Euro 25.4 billion. EssilorLuxottica is home to advanced lens technologies including Varilux, Stellest and Transitions, eyewear brands including Ray-Ban and Oakley, luxury licensed brands and world-class retailers including LensCrafters and Sunglass Hut. EssilorLuxottica shares are traded on the Euronext Paris market and are included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. www.essilorluxottica.com.

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Xia Baolong inspects tech park

    Source: Hong Kong Information Services

    CPC Central Committee Hong Kong & Macao Work Office Director and State Council Hong Kong & Macao Affairs Office Director Xia Baolong visited the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone on February 9.

    This was followed by a tour of the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone.

    During his inspection, Mr Xia hosted a discussion session in Qianhai, where he was briefed by the Hong Kong Special Administrative Region Government on its work plans on the economy and financial services.

    During the morning visit to the Hong Kong Park, Mr Xia, accompanied by Acting Chief Executive Chan Kwok-ki and Financial Secretary Paul Chan, listened to presentations by Secretary for Development Bernadette Linn on the overall planning and development overview of the Northern Metropolis as well as by Secretary for Innovation, Technology & Industry Prof Sun Dong on the park’s latest development progress and the key focus of work.

    Mr Xia also inspected the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone and hosted a discussion session where the Financial Secretary introduced the Hong Kong SAR Government’s work and focus in 2025 to advance the economy.

    During the four-hour session, there were also in-depth discussions on how Hong Kong could further understand, respond to and embrace changes under the new circumstances, accelerate reforms to foster progress, enhance Guangdong-Hong Kong co-operation, and better integrate into the Greater Bay Area (GBA).

    At the discussion session, Mr Xia recognised the work of the Hong Kong SAR Government under the Chief Executive’s leadership and expressed hope the Hong Kong SAR Government would thoroughly implement the spirit of the important speeches by President Xi Jinping in Macau and the Third Plenary Session of the 20th CPC Central Committee, and continue to be bold in reform, dare to break new ground and to innovate continuously.

    Mr Xia also wished for more reciprocal co-operation and collaborative development within the GBA.

    The finance chief stated that under the Chief Executive’s leadership, the Hong Kong SAR Government team will firmly uphold the principle of “one country” while leveraging the advantages of “two systems”, and the Government team is determined to undertake reforms, dare to be innovative, and actively integrate into the national development and align with national development strategies.

    In the face of a complex external environment, Hong Kong will co-ordinate development and security, maintain financial and economic security, whilst promoting the acceleration of economic progress.

    As the country further deepens reforms, promotes high-quality development and advances high-level opening up, Hong Kong will leverage its unique advantages and functions of connecting with both the Mainland and the world as well as its strong international character. 

    Hong Kong will reinforce traditional advantageous industries such as financial services, trade and shipping, while also exploring new development areas. At the same time, Hong Kong will focus on nurturing new quality productive forces and new economic growth points and continue to make systematic investments in innovation and technology.

    The Financial Secretary added that Hong Kong will harness platforms such as the above-mentioned co-operation zones, and strengthen collaboration with sister cities in the GBA, seeking to play to the comparative strengths of the cities and elevate their economic development.

    The session was attended by Secretary for Constitutional & Mainland Affairs Erick Tsang, Secretary for Financial Services & the Treasury Christopher Hui, Secretary for Commerce & Economic Development Algernon Yau, Ms Linn, Prof Sun, Secretary for Transport & Logistics Mable Chan and Acting Secretary for Culture, Sports & Tourism Raistlin Lau.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: National University of Singapore wins 20th ICC Mediation Competition

    Source: International Chamber of Commerce

    Headline: National University of Singapore wins 20th ICC Mediation Competition

    Taken place on Saturday 8 February 2025 in the historic Émile Boutmy Lecture Hall of Sciences Po University in Paris, the students gathered one last time to watch the two teams tackle the final mock mediation problem. Authored by Rissiane Goulart, a Strategic Commercial and Dispute Resolution Attorney at Goulart & Associados, the scenario focused on unauthorised logging in protected timber harvesting zones. The session was mediated by Andy Rogers, Director of Communications and Mediator at the Centre for Effective Dispute Resolution. 

    The National University of Singapore reached the semi-finals of the Mediation Competition in 2024, while the University of New South Wales had reached the final rounds in previous editions, and won the Competition in 2018 and 2016. Mervyn Lin and TianAo Li represented the National University of Singapore on stage, while teammates Joan Goh and Taesha Tan and coaches Seth Tay and Melvin Loh supported from the audience.  
     
    Mr Lin said: 

    “This week has been a rollercoaster of emotions. We have a huge culture of mediation at our school and we are so excited that we could use everything we have learned during this competition. The final session was intense, we had to really stretch our knowledge because of the strength of the other team, which made it all the more enjoyable. We didn’t expect the win and I want to congratulate the Australian team on their strong performance.”  

    The ICC Mediation Competition is one of the biggest educational competitions worldwide dedicated exclusively to international commercial mediation. Hosted in Paris from 3-8 February,  the 20th edition of the competition this year saw 48 university teams from 32 countries compete to resolve international business disputes through mediation. Guided by professional mediators and administered under the ICC Mediation Rules, over 75 mock mediation sessions took place. In total, over 300 students and professionals took part. 

    From left to right: Melvin Loh, TianAo Li, Joan Goh, Mervyn Lin, and Seth Tay – all representing the National University of Singapore

    The judges for the final were Raffaella Maria Pileri, Joanna Campos Carvalho, David Lutran, Jody Sin, and Ido Kleinberger.  

    Mr Kleinberger said: 

    “This competition is an amazing opportunity for me as a professional and for the students. As mediators, we aspire to look at the problems together instead of looking at each other. The teams did an extraordinary job in trying to find an agreement together while striking the balance to ensure your company’s interests are defended. The session was very true to life: The teams encouraged each other to speak, establishing an open relationship. The call was very close but in the end the Singapore team deserved the win.”  

    The trophy was awarded by Alexander G. Fessas, Secretary General of the ICC International Court of Arbitration Secretary and Director of ICC Dispute Resolution Services.  

    He said:  

    “Mediation is a sign of an advanced level of civilisation and understanding of each other. In ancient Greece, mediation was a way to find a fair solution for each other. Sometimes we forget the lessons of the past to understand the world today. Openness in dispute resolution, but also in trade, is central to understanding how the world operates. Through mediation, we can overcome our differences peacefully.”  

    The runner-up team from the University of New South Wales consisted of Lihara Delungahawatte, Kyla Rivera, Lina Zaioor, Rhea Baweja, and coaches Anvi Kohli and Steve Lancken.  

    Ms Delungahawatte said: 

    “We already have some experience in similar student competitions but this week was really special to us. Not only are we incredibly proud to make it to the final round, the ICC Mediation Competition pushed us to our limits, enabling us to reach our maximal potential. The nights were often short, the mock mediation problems challenging, and the sessions intensive but in the end it was all worth it.” 

    Re-live all the highlights of the ICC Mediation Competition on X  and  Facebook by following the official event hashtag, #ICCMW2025. A recording of the final session is also available on the ICC Official YouTube channel @ICCWBO1919.  

    For more information on ICC mediation services, visit the ICC International Centre for ADR.  

    MIL OSI Economics

  • MIL-OSI Economics: Samsung Equips Chicago Police with 10,000 Galaxy S Series Smartphones

    Source: Samsung

    Samsung Electronics America today announced that the Chicago Police Department deployed 10,000 Samsung Galaxy S series smartphones to its officers. The Chicago Police Department is using Samsung mobile devices to help modernize police work where officers need to process vast amounts of information while personally engaging with their communities. The Samsung smartphones each include Samsung DeX, which gives users the experience of working on a desktop by connecting a smartphone or tablet to an external display device such as a TV, monitor or PC.1 Samsung DeX enables officers to quickly pivot from mobile to desktop experiences inside their vehicles – all without needing to return to their stations.
    Samsung first partnered with the Chicago Police Department to launch a technology proof of concept in 2018. Under the expanded relationship, Samsung now provides mobile devices, Samsung DeX desktop experiences, and Samsung Knox security technologies for the city’s entire fleet of law enforcement, and has expanded to equip the Chicago Fire Department, as well. Today, Chicago’s police and firefighters rely upon Samsung technologies for secure information and communications as they protect and serve Chicago’s neighborhoods.
    Giving Public Servants the Modern Mobile Tools They Need to Serve the Public

    Chicago sought out technologies that would enable officers to engage with the people in their neighborhoods while reducing their time spent at desks processing paperwork. The Chicago Police Department is the second largest police force in the United States by sworn member size, with officers representing many ages and levels of experience, and the department needed to deploy a user-friendly technology that every person could use.
    Paired with vehicle-mounted docks2, Samsung Galaxy smartphones proved to be the perfect modern solutions for officers. Moving from laptops to handheld devices enabled Chicago’s police to carry their tools everywhere, dramatically improving their ability to gather and access information in the field. “Thanks to Samsung DeX, we went from 3,000 vehicle-mounted laptops to around 10,000 Galaxy S-series phones that are now either assigned to officers or in a specific vehicle daily,” said Dennis Baliga, Deputy Director of IT Infrastructure, City of Chicago’s Office of Public Safety Administration.
    The Chicago Fire Department chose Galaxy Tab tablets with unified mounts, using Samsung DeX in Vehicle to provide the same consistent desktop experience when connecting tablets to in-vehicle displays. Firefighters know that they’ll see the same desktop interface regardless of whether they are in a fire truck on the South Side or North Side of the city.

    Samsung Technologies Are Improving Efficiency and Streamlining User Experiences
    Using Samsung Knox Suite – Samsung’s enterprise-grade security platform – technology teams can design the mobile and desktop interfaces they want users to see on their devices, streamlining access to critical and secure applications. Better yet, Samsung Knox makes device setup fast. The Chicago Police Department reduced the amount of time spent provisioning a phone by 75%, compared with three years ago, saving the city’s teams countless hours.
    “Between our Galaxy devices, Knox Suite, and Samsung DeX, they are really increasing efficiency and improving their cost savings,” said Todd Maxwell, Samsung U.S. Director of Business Development.
    With custom configuration, Samsung devices enable officers to quickly access a wealth of specialized information directly from the field.

    “Our Galaxy devices allow us access to state and local databases, city licensing and permitting, so at a special event, I’m able to check the parameters of a special event permit. We also have access to specific applications, like the Department of Transportation hazmat guide. Instead of carrying a big book that is inches thick and several pounds, I have an app on my phone. And I can access city service requests. If I need to report a pothole or traffic lights out, I can do it right from the phone,” explained Aaron Levine, Chicago Police Department Entertainment Venue Team Sergeant.
    Samsung Knox also offers unparalleled device security – a must-have for officers who routinely handle sensitive data in the field.
    “We trust the partnership we have with Samsung. As officers run people’s names, run their license plates, and are also logging into their systems, we have to worry about security like data leaks and HIPAA information. We are confident in Knox security. It ensures that they can do their job safely and securely,” said Dan Sullivan, Electrical Mechanic, City of Chicago’s Office of Public Safety Administration.

    MIL OSI Economics

  • MIL-OSI Russia: Financial news: The deposit auction of the Moscow Small Business Lending Assistance Fund will take place on 10.02.2025

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    Parameters;

    The date of the deposit auction is 10.02.2025. Placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 150,000,000.00. Placement period, days 9. Date of depositing funds is 10.02.2025. Date of return of funds is 19.02.2025. Minimum placement interest rate, % per annum is 19.80. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 150,000,000.00. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open). Basis of the Agreement is the General Agreement. Schedule (Moscow time). Applications in preliminary mode from 12:00 to 12:10. Applications in competition mode from 12:10 to 12:15. Setting a cut-off percentage or declaring the auction invalid before 12:25.

    Additional conditions – Placement of funds with the possibility of early withdrawal of the entire deposit amount and payment of interest accrued on the deposit amount at the rate established by the deposit transaction, in the event of non-compliance of the Bank with the requirements established by clause 2.1. of the Regulation “On the procedure for selecting banks for placing funds of the Moscow Small Business Lending Assistance Fund in deposits (deposits) under the GDS” (as amended on the date of the deposit transaction), early withdrawal at the “on demand” rate, payment of interest at the end of the term, without replenishment.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.Mom/N77521

    MIL OSI Russia News

  • MIL-OSI: Thomas Kimsey, President and CEO of Thomas Financial Group Appointed as Associate Administrator for Capital Access, Small Business Administration

    Source: GlobeNewswire (MIL-OSI)

    LAGRANGE, Ga., Feb. 10, 2025 (GLOBE NEWSWIRE) — Community Bankshares, Inc. congratulates Thomas Kimsey, President and CEO of Thomas Financial Group, on his appointment by President Trump to the Small Business Administration (SBA) as Associate Administrator for the Office of Capital Access. Thomas Financial Group is a subsidiary of Community Bankshares, Inc.

    During this distinguished assignment, Mr. Kimsey will take a leave of absence from his role as President and CEO of Thomas Financial Group to dedicate himself to this prestigious and impactful appointment. An interim president will be named shortly to ensure continuity and the ongoing success of the company during his absence.

    “We are immensely proud of Thomas Kimsey’s commitment to serving his country in this critical role,” said Jeremy Gilpin, Chairman of the Board of Community Bankshares, Inc. “His extensive experience and passion for supporting small businesses make him uniquely qualified to improve the SBA’s ability to drive economic growth and create opportunities for entrepreneurs nationwide.”

    “Thomas Kimsey has been a visionary leader at Thomas Financial Group, and while we will miss his daily leadership, we are honored to see him take on this national responsibility,” said Chris Hurn, President of Community Bankshares, Inc. “His commitment to improving the landscape for small businesses will leave a lasting impact on the SBA and the entrepreneurs it serves.”

    Mr. Kimsey’s appointment reflects his unwavering dedication to strengthening the small business sector and empowering underserved communities. As Associate Administrator for Capital Access, he will work to enhance SBA programs and policies that support small businesses, ensuring they have the resources and access to capital needed to succeed in today’s competitive economy. The entire team at Community Bankshares, Inc. wishes him well in this important endeavor.

    About Thomas Financial Group

    Thomas Financial Group, based in Atlanta, Georgia, is now a subsidiary of Community Bankshares, Inc. and a nationally recognized leader in commercial lending solutions. Specializing in USDA and SBA programs, the company has a proven track record of empowering businesses, strengthening rural and underserved communities, and advancing government-guaranteed lending.

    About Community Bankshares, Inc.

    Headquartered in LaGrange, Georgia, Community Bankshares, Inc. is the parent company of Community Bank & Trust and a network of financial service subsidiaries. Phoenix Lender Services (PHX) is a subsidiary of Community Bankshares, Inc. whose mission is redefining the way lending capital is provided across America, in a manner that promotes business stability and encourages community prosperity. The company serves a diverse clientele across the nation, fostering growth, opportunity, and collaboration.

    Media Contact:

    Hannah Williams
    Uproar by Moburst for Community Bankshares, Inc.
    hannah.williams@moburst.com

    The MIL Network

  • MIL-OSI Economics: Samsung To Feature Hylex™ in HVAC Lineup Showcased at AHR Expo

    Source: Samsung

     
    Samsung Electronics today announced it will showcase its comprehensive Heating, Ventilating and Air-Conditioning (HVAC) product lineup at the 2025 International Air-Conditioning, Heating, Refrigerating Exposition (AHR Expo) to be held Feb. 10-12 in Orlando, Florida. At booth 6043, the company will introduce key products — including Hylex universal inverter-driven heat pumps (premium and standard series), EHS Mono air-to-water heat pumps and R32-based DVM S2 variable refrigerant flow (VRF) systems — across four different zones (Featured Products, Light Commercial, Commercial and Residential / Controls / Compressor).
     
    Held at the Orange County Convention Center, the AHR Expo is co-sponsored by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) and the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE). Since its inception in 1930, the expo has been regarded as the industry’s biggest and best event for OEMs, engineers, contractors and other trade professionals, making it an ideal venue for the company to demonstrate its latest HVAC technologies and products.
     
    “The AHR Expo serves as an annual bellwether for the industry, which is why we’ve decided to introduce cutting-edge products like the Hylex series of heat pumps at this event, said Hank Choi, Corporate VP and Head of Air Solution Business Team, Digital Appliances (DA) Business at Samsung Electronics. “We are confident that the newest iterations of Samsung’s innovative HVAC technology will help to uplift the user experience across consumer and commercial applications around the globe.”
     
     
    Hylex Heat Pumps Are True Game Changers for Residential HVAC

     
    As a universal inverter-driven heat pump, Hylex has been designed to revolutionize HVAC through seamless installation and high efficiency. Hylex systems can utilize existing refrigerant piping and provide different piping options for even greater installation flexibility during replacement applications. To further reduce installation costs, they can also use existing control wiring and are compatible with most 24VAC thermostats. Available in the Premium, Deluxe+, and Deluxe series, Hylex also offers built-in Wi-Fi for energy and unit monitoring through SmartThings.1
     

    EHS Mono Brings Water Heating With Low Noise

     
    Comprising a ClimateHub or Hydro indoor unit and one EHS Mono HT outdoor unit, Samsung’s EHS Mono is a water-heating solution with enhanced capabilities that caters to user needs, even at extreme outside temperatures. The combination of various advanced features allows it to achieve a hot water temperature of up to 158°F (70°C) with an operating range of -13°F to 95°F (-25°C to 35°C).
     
    On the engineering level, the EHS Mono HT Quiet’s has a flash injection compressor that enhances heating performance at low temperatures through increased refrigerant mass flow. The heat pump also benefits from new noise-reducing technologies, which allow it to operate at noise levels as low as 35 dB(A) at three meters (10 feet) in low noise mode.
     
     
    DVM S2 Offers Next-Gen Variable Refrigerant Flow (VRF) Performance

     
    The DVM S2, which is the latest generation of Samsung’s Variable Refrigerant Flow (VRF) systems, has been designed to deliver energy efficiency along with excellent heating and cooling performance. The system optimizes heating cycles by analyzing fan motor currents and temperature data, reducing defrost duration and improving comfort. Additionally, high- and low-pressure control ensures precise system adjustments, automatically recognizing pipe lengths and optimizing pressure levels to reduce the energy used by the compressor by up to 15%.2
     
    Furthermore, the DVM S2 uses data from various sensors to determine the ideal amount of refrigerant and detect refrigerant volume so that it can ensure improved performance3 and provide early warnings for maintenance. It also brings reduced liquid pipe diameters to lower the overall system charge by 28% on average,4 making the system more efficient and cost-effective.
     
    To find out more about Samsung’s HVAC systems, visit https://www.samsunghvac.com/.

     
     
    1 Available for download on the Google Play store and App Store®. A network connection is required. Samsung application account is necessary.3 Conditions apply. Refer to technical documents for more information.3 Requires an initial dedicated refrigerant check function during commissioning.4 Restrictions apply.

    MIL OSI Economics

  • MIL-OSI: Paradigm Oil and Gas Partners with Hallmark Venture Group to Drive Scalable Revenue Growth

    Source: GlobeNewswire (MIL-OSI)

    Key Highlights:

    • Strategic Partnership Announcement: Paradigm Oil and Gas, Inc. (OTC: PDGO) has engaged Hallmark Venture Group, Inc. (OTC: HLLK) to develop scalable revenue strategies and enhance digital operations.
    • Revenue Growth & Digital Expansion: The collaboration aims to optimize lead generation, implement revenue-driving strategies, and develop new digital infrastructure for sustained business growth.
    • Operational Management & Market Positioning: Hallmark Venture Group will oversee website development, traffic acquisition, lead generation, public relations, and administrative management to enhance monetization efforts.
    • AI-Driven Business Solutions: The partnership leverages Hallmark’s AI-driven marketing and consulting expertise to create innovative business models that increase profitability.
    • Scalable & Sustainable Business Model: Paradigm Oil and Gas expands beyond traditional operations by exploring digital and third-party service integrations to maximize shareholder value.
    • Investor & Market Outlook: The initiative aligns with evolving market demands, ensuring long-term financial stability and operational efficiency.

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Paradigm Oil and Gas, Inc. (OTC: PDGO) expands its revenue potential by engaging Hallmark Venture Group, Inc. (OTC: HLLK) to enhance digital operations and implement scalable revenue strategies. This strategic partnership is designed to optimize lead generation, strengthen market positioning, and maximize profitability through AI-driven solutions and digital infrastructure.

    Accelerating Digital Growth and Revenue Optimization

    Paradigm Oil and Gas is committed to diversifying revenue streams beyond traditional operations. By leveraging Hallmark Venture Group’s expertise, the Company will implement advanced digital strategies, optimize monetization efforts, and develop high-quality traffic acquisition models.

    Hallmark Venture Group will oversee key operational areas, including:

    • Website Development & Digital Infrastructure – Enhancing user experience and optimizing engagement.
    • Traffic Acquisition & Lead Generation – Deploying AI-driven marketing strategies for high-quality conversions.
    • Public Relations & Market Outreach – Strengthening brand visibility and investor relations.
    • Administrative & Operational Management – Streamlining business processes for improved efficiency.

    AI-Powered Solutions for Market Expansion

    Hallmark Venture Group specializes in AI-driven consulting and revenue growth solutions. Through this collaboration, Paradigm Oil and Gas will integrate data-driven marketing techniques, predictive analytics, and automated lead generation tools to drive long-term financial sustainability.

    Strategic Growth & Shareholder Value Enhancement

    This initiative aligns with Paradigm Oil and Gas’s mission to explore innovative business models that create sustainable growth. By embracing digital transformation and AI-powered strategies, the Company aims to increase shareholder value and remain competitive in evolving market conditions.

    About Paradigm Oil and Gas, Inc.

    Paradigm Oil and Gas, Inc. (OTC: PDGO) is a publicly traded company focused on optimizing revenue generation and expanding its market opportunities. The Company actively pursues strategic partnerships and digital initiatives to drive profitability and long-term business growth.

    About Hallmark Venture Group, Inc.

    Hallmark Venture Group, Inc. (OTC: HLLK) is a digital marketing and consulting firm specializing in AI-driven strategies, lead generation, and scalable revenue solutions. The Company’s proprietary platforms help businesses enhance digital growth, optimize customer acquisition, and improve market positioning.

    Safe Harbor Statement

    Safe Harbor This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words ”may”,”would”, ”will”, ”estimate”, ”can”, ”believe”, ”potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in the Company’s filings with the Securities and Exchange Commission and/or OTC Markets.

    For Media & Investor Inquiries:

    Website: https://pdgoinc.net/
    Email: info@pdgoinc.net
    X (formerly Twitter): @PDGOinc

    The MIL Network

  • MIL-OSI: Locus Technologies Earns Two EBJ Business Achievement Awards

    Source: GlobeNewswire (MIL-OSI)

    MOUNTAIN VIEW, Calif., Feb. 10, 2025 (GLOBE NEWSWIRE) — Locus Technologies, the sustainability and Environmental Health and Safety (EHS) compliance software leader, was honored by the Environmental Business Journal® (EBJ) with two prestigious 2024 Business Achievement Awards: the PROJECT MERIT AWARD for Locus’s successful implementation of a global waste management solution for one of the world’s largest energy leaders, and the TECHNOLOGY MERIT AWARD for Locus’s release of step-change software products for produced water management in the oil and gas industry, high Global Warming Potential (GWP) refrigerant management, and sustainable construction. Full details of these achievements and Locus’s recent worldwide project implementations are available from www.locustec.com. EBJ is an independent business research publication that has provided strategic market intelligence to the environmental industry since 1988.

    “We are honored to be recognized by an esteemed group of researchers and analysts for the work we are doing to raise the bar in the ESG and EHS software space,” said Neno Duplan, founder and CEO of Locus Technologies. “Our product and implementation teams are masters at developing purpose-built solutions with time-saving frameworks and unmatched configurability. As a result, our clients gain incredible economies while remaining responsive to the emerging demands of the Corporate Sustainability Reporting Directive (CSRD) and the shifting regulatory pressures state-side. We are pleased to be acknowledged for these advancements.”

    Environmental Business Journal® provides strategic market intelligence to executives and investors in 13 business segments of the environmental industry including environmental consulting & engineering, remediation & industrial services, water & wastewater equipment, air quality & pollution control equipment, hazardous waste management, resource recovery, solid waste management, water/wastewater infrastructure, renewable energy and environmental instrumentation & information systems.

    “In another year of strong growth for the environmental industry in 2024, a number of companies set themselves apart with their growth, innovation, M&A, or signature projects that merit the special recognition of an EBJ award,” said Grant Ferrier, editor of Environmental Business Journal and chair of the EBJ Business Achievement Award selection committee. The 2024 EBJ awards will be presented live and in-person at the EBJ Business Achievement Awards banquet at Environmental Industry Summit XXIII on April 02-04, 2025, in San Diego, along with CCBJ Business Achievement, Lifetime Achievement and 50-Year Company anniversary awards.

    To learn more about Locus Produced Water Management, Locus Refrigerant Management, and Locus Sustainable Construction, please visit www.locustec.com.

    About Locus Technologies
    Locus Technologies, the global environmental, social, governance (ESG), sustainability, and EHS compliance software leader, empowers companies of every size and industry to be credible with ESG reporting. From 1997, Locus pioneered enterprise software-as-a-service (SaaS) for EHS compliance, water management, and ESG credible reporting. Locus apps and software solutions improve business performance by strengthening risk management and EHS for organizations across industries and government agencies. Organizations ranging from medium-sized businesses to Fortune 500 enterprises, such as Sempra, Corteva, Chevron, DuPont, Chemours, San Jose Water Company, The Port Authority of New York and New Jersey, Port of Seattle, and Los Alamos National Laboratory, have selected Locus. Locus is headquartered in Mountain View, California. For further information regarding Locus and its commitment to excellence in SaaS solutions, please visit www.locustec.com or email info@locustec.com.

    About Environmental Business Journal
    Environmental Business Journal has been published since 1988 by Environmental Business International Inc., an independent research and publishing company focused on the environmental and climate change industries.

    Media Contact:
    Brenda Mahedy
    Locus Technologies
    media@locustechnologies.net

    The MIL Network

  • MIL-OSI: Crisil Coalition Greenwich Names Mizuho Best Bank for Corporate Banking in the U.S.

    Source: GlobeNewswire (MIL-OSI)

    Mizuho ranked first, tied alongside Goldman Sachs, J.P. Morgan, and Bank of America

    Mizuho also wins Best Bank for Coverage for Corporates and Best Bank for Ease of Doing Business for Corporates

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Mizuho Americas today announced it was named best bank in the U.S. by Crisil Coalition Greenwich for Best in Corporate Banking, Best Coverage for Corporates, and Best in Ease of Doing Business for Corporates. Mizuho ranked first, tied alongside Goldman Sachs, J.P. Morgan, and Bank of America for Corporate Banking and Ease of Doing Business, and tied with J.P. Morgan and Bank of America for Coverage for Corporates.

    Crisil Coalition Greenwich conducted over 200 interviews, from May through November 2024, with CFOs and Treasurers at U.S.- based companies with $2 billion or more in annual revenue. Decision makers were asked about capabilities in specific areas, including breadth and depth of product offerings, quality of coverage, and business momentum.

    “We appreciate this amazing response from our corporate clients in recognition of our platform and are honored to be ranked first alongside the best banks in the industry,” said Jerry Rizzieri, President & CEO of Mizuho Securities USA and Head of CIB at Mizuho Americas. “We have built a successful coverage model coupled with great product capabilities and top talent to present fully integrated offerings backed by a client-centric culture.”

    Mizuho Americas was rated excellent/distinctive for effectiveness of senior management, frequency of contact, responsiveness, proactive provision of advice, coordinating product specialists, and digitizing KYC processes.

    Crisil Coalition Greenwich is a leading provider of strategic benchmarking, analytics, and insights. Its award winners receive quality ratings from corporate clients that top those of competing banks by a statistically significant margin.

    About Mizuho Americas
    Mizuho Financial Group, Inc. is the 17th largest financial institution in the world as measured by total assets of ~$2 trillion, according to S&P Global 2024. Mizuho’s 65,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia.​

    Mizuho Americas is a leading provider of corporate and investment banking, capital markets, strategic advisory, equity research, equity and fixed income sales & trading, derivatives, and financing solutions to corporate, private equity, and institutional clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho enhanced its M&A, restructuring, and private capital advisory capabilities across Americas, Europe, and Asia. Mizuho Americas employs approximately 3,700 professionals, for more information visit www.mizuhoamericas.com.​

    For inquiries, please contact:

    Jim Gorman
    Executive Director, Media Relations, Mizuho Americas
    +1-212-282-3867
    jim.gorman@mizuhogroup.com

    Laura London
    Director, Media Relations, Mizuho Americas
    +1-212-282-4446
    laura.london@mizuhogroup.com

    The MIL Network

  • MIL-OSI: Music Licensing, Inc. Receives Official Federal Recognition of Its Wholly Owned Subsidiary, Pro Music Rights, as a Performing Rights Organization in the United States Federal Register

    Source: GlobeNewswire (MIL-OSI)

    Naples, FL, Feb. 10, 2025 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG) (OTC: SONGD), a leader in the music rights and intellectual property sector, is pleased to announce that its wholly owned subsidiary, Pro Music Rights (PMR), has been officially recognized in the Federal Register of the United States of America as a Performing Rights Organization (PRO). This landmark recognition reinforces Pro Music Rights’ position as a key player in the U.S. music licensing ecosystem, joining the ranks of other established PROs responsible for ensuring that music creators receive fair compensation for the public performance of their works.

    This official acknowledgment represents a pivotal achievement for Music Licensing, Inc. (OTC: SONG) (OTC: SONGD) and its shareholders, as it validates Pro Music Rights’ authority in managing performance rights and licensing agreements on behalf of its extensive repertoire of musical works. Pro Music Rights already represents an estimated 7.4% market share in the U.S., covering over 2.5 million works from renowned artists.

    A Milestone for the Future of Music Licensing

    The inclusion of Pro Music Rights in the Federal Register signifies more than just formal recognition—it cements the company’s status as a regulatory-compliant, trusted, and transparent music rights administrator. This milestone provides greater legitimacy, stability, and enhanced leverage in negotiations with major technology and media companies that rely on legally licensed music for their platforms.

    Jake P. Noch, CEO of Music Licensing, Inc. (OTC: SONG) (OTC: SONGD), commented on this development:
    “This recognition in the Federal Register underscores our commitment to protecting artists’ rights and ensuring fair compensation for their creative works. It strengthens our ability to negotiate with industry giants such as Apple Inc., Amazon, Google, and Spotify, enabling us to secure more favorable licensing terms that benefit both rights holders and shareholders.”

    Strategic Advantages and Business Growth

    This recognition presents multiple strategic benefits for Pro Music Rights and Music Licensing, Inc. (OTC: SONG) (OTC: SONGD), including:

        •    Strengthened Licensing Authority – As an officially recognized PRO, PMR can enhance its negotiating power with major music streaming platforms, broadcasters, and digital service providers.
        •    Greater Transparency & Industry Confidence – Federal recognition increases trust and credibility among rights holders, licensees, and regulatory bodies.
        •    Expansion Opportunities – PMR is now better positioned to expand its reach, enter into new licensing agreements, and provide competitive solutions in the evolving digital music landscape.
        •    Enhanced Revenue Potential – With this recognition, PMR anticipates a significant increase in licensing revenue as it actively enforces its rights with major industry players.

    Looking Ahead: Licensing Deals with Global Corporations

    With this newfound recognition, Music Licensing, Inc. (OTC: SONG) (OTC: SONGD) will actively seek to leverage this status in future licensing discussions with some of the world’s largest technology and entertainment companies. The company aims to establish long-term agreements with Apple Music, Amazon Music, Google’s YouTube, Spotify, and other streaming services, ensuring that PMR’s extensive music catalog is fairly monetized.

    “As we move forward, we are excited about the immense opportunities this recognition brings,” added Jake P. Noch. “We are committed to delivering value to our rights holders, shareholders, and the broader music industry by ensuring that music creators receive their rightful earnings in an efficient, transparent, and legally sound manner.”

    About Music Licensing, Inc. (OTC: SONG) (OTC: SONGD) (ProMusicRights.com)

    Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) established in the United States. It is recognized under the federal registry of the United States government. The company licenses music to some of the most prominent platforms and businesses, including TikTok, iHeartMedia, Triller, Napster, 7Digital, Vevo, and many others.

    Pro Music Rights holds an estimated 7.4% market share in the United States, representing a catalog of more than 2.5 million works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and many others, including works generated by artificial intelligence (AI).

    Additionally, Music Licensing, Inc. (OTC: SONG) holds royalty interests in Listerine “Mouthwash” Antiseptic and a vast portfolio of musical works by globally renowned artists, including The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, BlueFace, The Game, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and many others.

    Forward-Looking Statements:

    This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

    Non-Legal Advice Disclosure:

    This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

    Non-Investment Advice Disclosure:

    This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication

    Contact: investors@ProMusicRights.com

    SOURCE: Music Licensing, Inc.

    The MIL Network

  • MIL-OSI: Tower Semiconductor Reports 2024 Fourth Quarter and Full Year Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIGDAL HAEMEK, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter of 2024 and for the year ended December 31, 2024.

    Fourth Quarter of 2024 Results Overview
    Revenues for the fourth quarter of 2024 were $387 million as compared to $371 million for the third quarter of 2024 and $352 million for the fourth quarter of 2023, representing 5% quarter over quarter growth and 10% year over year growth. The Company met its expressed target of sequential quarter over quarter revenue growth within 2024, resulting in 18% growth fourth quarter over first quarter.

    Gross profit for the fourth quarter of 2024 was $87 million, compared to $84 million for the fourth quarter of 2023. During the fourth quarter of 2024, the Company took on for the first time its portion of incremental costs of the greenfield Agrate facility.

    Operating profit for the fourth quarter of 2024 was $46 million as compared to $45 million for the fourth quarter of 2023.

    Net profit for the fourth quarter of 2024 was $55 million, reflecting $0.49 basic and diluted earnings per share. Net profit for the fourth quarter of 2023 was $54 million, or $0.49 basic and $0.48 diluted earnings per share.

    Cash flow generated from operating activities in the fourth quarter of 2024 was $101 million and investments in property and equipment, net were $93 million.

    Full year 2024 Results Overview
    Revenues for the full year of 2024 were $1.44 billion, gross profit was $339 million, operating profit was $191 million. Net profit for the full year of 2024 was $208 million, or $1.87 basic and $1.85 diluted earnings per share. For the full year of 2023, revenues were $1.42 billion, gross profit was $354 million, operating profit was $547 million and included $314 million, net, from the Intel merger contract termination and $33 million of restructuring income, net, from the previously disclosed reorganization and restructure of our Japan operations during 2022. Net profit for the full year of 2023 was $518 million, or $4.70 basic and $4.66 diluted earnings per share and included $290 million, net, due to the merger contract termination payment by Intel and $11 million restructuring income, net.

    Cash flow generated from operating activities for the year ended December 31, 2024, was $449 million. Investments in property and equipment, net for the year ended December 31, 2024, were $432 million and debt payments, net totaled $32 million.

    6” Fab Consolidation Update
    During the fourth quarter of 2024, the lower margin legacy of 150mm flows were discontinued in Fab1, with last Fab outs occurring in January 2025. The forward-looking strategic flows have been transferred into the Fab2 200mm factory. This strategic integration enables the Company to streamline its production processes, enhancing overall efficiency.

    Business Outlook
    Tower Semiconductor guides revenues for the first quarter of 2025 to be $358 million, with an upward or downward range of 5%. First quarter mid-range guidance reflects about 10% year-over-year growth.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “With the close of 2024, we are pleased with our progress, in having brought to market highly differentiated end application advancing platforms, hence strengthening our position for sustainable growth. Our 2025 revenue target is year-over-year growth, with sequential quarter-over-quarter revenue growth, and an acceleration in the second half of the year. This momentum is fueled by increasing production shipments as our previously announced capacity investments progress through the final stages of customer qualifications.”

    Ellwanger further added: “Our commitment to customer partnered innovation and streamlined execution continues to drive our ability to meet the growing and evolving needs of our customers in a quickly changing business environment, whilst expanding our available market size and share. We look forward to the year ahead with confidence and enthusiasm.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Monday, February 10, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the fourth quarter and full year of 2024 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $101 million, $125 million and $126 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $449 million and $677 million for the years ended December 31, 2024 and December 31, 2023, respectively (less cash used for investments in property and equipment, net (in the amounts of $93 million, $128 million and $136 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $432 million and $432 million for the years ended December 31, 2024 and December 31, 2023, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, includes certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, unfavorable economic conditions and/or credit crisis, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease that caused him to request a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well the ability to extend such lease or acquire the real estate and obtain the required local state and/or approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impacts that may be incurred or occur due to reorganization and consolidation of fabrication facilities, including the impact of cessation of operations of our facilities, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      December 31,   December 31,  
      2024   2023  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 271,894   $ 260,664  
    Short-term deposits 946,351   790,823  
    Marketable securities   184,960  
    Trade accounts receivable 211,932   154,067  
    Inventories 268,295   282,688  
    Other current assets 61,817   35,956  
    Total current assets 1,760,289   1,709,158  
    PROPERTY AND EQUIPMENT, NET 1,286,622   1,155,929  
    GOODWILL AND OTHER INTANGIBLE ASSETS, NET 10,196   12,115  
    OTHER LONG-TERM ASSETS 23,378   41,315  
    TOTAL ASSETS $ 3,080,485   $ 2,918,517  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 48,376   $ 58,952  
    Trade accounts payable 130,624   139,128  
    Deferred revenue and customers’ advances 21,655   18,418  
    Other current liabilities 84,409   60,340  
    Total current liabilities 285,064   276,838  
    LONG-TERM DEBT 132,437   172,611  
    LONG-TERM CUSTOMERS’ ADVANCES 7,690   25,710  
    OTHER LONG-TERM LIABILITIES 15,114   16,319  
    TOTAL LIABILITIES 440,305   491,478  
    TOTAL SHAREHOLDERS’ EQUITY 2,640,180   2,427,039  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,080,485   $ 2,918,517  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    REVENUES $ 387,191   $ 370,512   $ 351,711  
    COST OF REVENUES 300,338   277,451   267,294  
    GROSS PROFIT 86,853   93,061   84,417  
    OPERATING COSTS AND EXPENSES:            
    Research and development 20,622   19,867   20,849  
    Marketing, general and administrative 19,812   17,432   18,401  
      40,434   37,299   39,250  
                 
    OPERATING PROFIT 46,419   55,762   45,167  
    FINANCING AND OTHER INCOME, NET 8,315   6,104   16,682  
    PROFIT BEFORE INCOME TAX 54,734   61,866   61,849  
    INCOME TAX EXPENSE, NET (2,149)   (7,026)   (10,130)  
    NET PROFIT 52,585   54,840   51,719  
    Net loss (profit) attributable to non-controlling interest 2,553   (193)   2,128  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    BASIC EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.49  
    Weighted average number of shares 111,493   111,237   110,796  
    DILUTED EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.48  
    Weighted average number of shares 112,967   112,474   111,308  
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    Stock based compensation 10,684   8,611   6,662  
    Amortization of acquired intangible assets 574   448   442  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 66,396   $ 63,706   $ 60,951  
    ADJUSTED EARNINGS PER SHARE:            
    Basic $ 0.60   $ 0.57   $ 0.55  
    Diluted $ 0.59   $ 0.57   $ 0.55  
                 
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Year ended  
      December 31,  
      2024   2023  
    REVENUES $ 1,436,122   $ 1,422,680  
    COST OF REVENUES 1,096,680   1,069,161  
    GROSS PROFIT 339,442   353,519  
    OPERATING COSTS AND EXPENSES:        
    Research and development 79,434   79,808  
    Marketing, general and administrative 74,964   72,454  
    Restructuring income, net * (6,270)   (32,506)  
    Merger-contract termination fee, net **   (313,501)  
      148,128   (193,745)  
             
    OPERATING PROFIT 191,314   547,264  
    FINANCING AND OTHER INCOME, NET 26,113   37,578  
    PROFIT BEFORE INCOME TAX 217,427   584,842  
    INCOME TAX EXPENSE, NET (10,205)   (65,312)  
    NET PROFIT 207,222   519,530  
    Net loss (profit) attributable to non-controlling interest 642   (1,036)  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    BASIC EARNINGS PER SHARE $ 1.87   $ 4.70  
    Weighted average number of shares 111,153   110,289  
    DILUTED EARNINGS PER SHARE $ 1.85   $ 4.66  
    Weighted average number of shares 112,343   111,216  
    * Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022.  
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost.  
             
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    Stock based compensation 33,837   27,931  
    Amortization of acquired intangible assets 1,918   1,923  
    Restructuring income, net *** (2,634)   (11,224)  
    Merger-contract termination fee, net ****   (289,988)  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 240,985   $ 247,136  
    ADJUSTED EARNINGS PER SHARE:        
    Basic $ 2.17   $ 2.24  
    Diluted $ 2.15   $ 2.22  
    *** Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022, net of tax.
    **** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost and tax.
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)  
    (dollars in thousands)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 270,979   $ 265,313   $ 314,816  
    Net cash provided by operating activities 100,816   124,743   126,098  
    Investments in property and equipment, net (93,396)   (127,624)   (136,426)  
    Debt received (repaid), net 2,795   (16,402)   (8,950)  
    Effect of Japanese Yen exchange rate change over cash balance (4,972)   5,537   2,101  
    Proceeds from (investment in) deposits, marketable securities and other assets, net (4,328)   19,412   (36,975)  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 270,979   $ 260,664  
      Year ended      
      December 31,   December 31,      
      2024   2023      
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 260,664   $ 340,759      
    Net cash provided by operating activities 448,682   676,561 *    
    Investments in property and equipment, net (431,653)   (432,184)      
    Debt repaid, net (32,455)   (32,346)      
    Proceeds from investment in subsidiary   1,932      
    Effect of Japanese Yen exchange rate change over cash balance (4,758)   (5,395)      
    Proceeds from (investment in) deposits, marketable securities and other assets, net 31,414   (288,663)      
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664      
    * Merger-contract termination fee received from Intel during 2023, net of associated cost, in the amount of $313,501  
    was included within the net cash provided by operating activities for the year ended December 31, 2023.  
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)  
    (dollars in thousands)  
      Year ended  
      December 31,   December 31,  
      2024   2023  
    CASH FLOWS – OPERATING ACTIVITIES        
    Net profit for the period $ 207,222   $ 519,530  
    Adjustments to reconcile net profit for the period        
    to net cash provided by operating activities:        
    Income and expense items not involving cash flows:        
    Depreciation and amortization * 266,279   258,021  
    Effect of exchange rate differences and fair value adjustment 133   (1,632)  
    Other expense (income), net 24,721   (7,047)  
    Changes in assets and liabilities:        
    Trade accounts receivable (60,169)   (3,160)  
    Other current assets (33,992)   (9,541)  
    Inventories 4,778   8,682  
    Trade accounts payable 35,784   (8,254)  
    Deferred revenue and customers’ advances (14,783)   (35,676)  
    Other current liabilities 22,021   (70,163)  
    Other long-term liabilities (3,312)   25,801  
    Net cash provided by operating activities 448,682   676,561 **
    CASH FLOWS – INVESTING ACTIVITIES        
    Investments in property and equipment, net (431,653)   (432,184)  
    Proceeds from (investments in) deposits, marketable securities and other assets, net 31,414   (288,663)  
    Net cash used in investing activities (400,239)   (720,847)  
    CASH FLOWS – FINANCING ACTIVITIES        
    Debt repaid, net (32,455)   (32,346)  
    Proceeds from investment in subsidiary   1,932  
    Net cash used in financing activities (32,455)   (30,414)  
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE (4,758)   (5,395)  
             
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,230   (80,095)  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 260,664   340,759  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664  
    * Includes amortization of acquired intangible assets and stock based compensation in the amounts of $35,755  
    and $29,854 for the years ended December 31, 2024, and December 31, 2023, respectively.      
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost, in the amount
    of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
             

    The MIL Network

  • MIL-OSI Economics: Samsung TV Plus India Launches Five Exclusive FAST Channels from Warner Bros. Television

    Source: Samsung

     
    Samsung TV Plus, Samsung’s free ad-supported streaming TV (FAST) service, has collaborated with Warner Bros. to launch five new FAST channels exclusively on Samsung TV Plus India. These WBTV channels deliver premium storytelling to streaming audiences, meeting the demand for high quality, free entertainment. With a strong focus on Hindi programming, these new FAST channels are designed to engage both regional and urban audiences.
     
    Samsung TV Plus is a free streaming service that comes pre-installed on Samsung Smart TVs, offering a wide range of channels, including news, sports, entertainment, and more.
     
    Kunal Mehta, Head Partnerships and Business Development, Samsung TV Plus India, said “We are thrilled to welcome Warner Bros. Television to Samsung TV Plus. As a leader in FAST, we are committed to bringing top-tier content to our audiences. This partnership expands entertainment choices while delivering even more value and access to our viewers—and opportunities for advertisers.”
     
    Offering a diverse range of premium programming, the channels mentioned below are curated to captivate viewers on Samsung Smart TVs and mobile devices:
     
    House of Crime: A gripping destination for crime enthusiasts, offering a mix of intense dramas and intriguing investigative series in Hindi.
    Foodie Hub: A haven for culinary adventurers, featuring popular food shows, recipes, and gastronomic journeys, presented in Hindi.
    Wild Flix: A heart-warming gateway to the wonders of the animal kingdom, showcasing captivating insights into zoo life, and awe-inspiring animal rescue stories in Hindi.
    Wheel World: A high-octane destination for automobile enthusiasts, featuring exhilarating car and bike shows, and restoration stories from the best garages, presented in English.
    XXtreme Jobs: An adrenaline-pumping exploration of the world’s most daring professions, unearthing extraordinary workplaces and fearless individuals behind them, presented in Hindi.
    Ruchir Jain, Head of Distribution, Warner Bros. Discovery, South Asia, said: “At Warner Bros. Discovery, we are passionate about curating diverse and high-quality entertainment for our audiences. With connected TVs on the rise, we are excited to expand our presence on Samsung TV Plus through these new channels. Our partnership with Samsung TV Plus will enable us to bring our viewers the very best of WBTV.”

    MIL OSI Economics

  • MIL-OSI United Kingdom: Ministerial appointments: 10 February 2025

    Source: United Kingdom – Executive Government & Departments

    The King has been pleased to approve the following appointments.

    The King has been pleased to approve the following appointments:

    • Ashley Dalton MP as a Parliamentary Under-Secretary of State in the Department of Health and Social Care. 

    • The Rt Hon. Douglas Alexander MP jointly as a Minister of State in the Cabinet Office, in addition to his role as Minister of State in the Department for Business and Trade.

    • Lord Moraes OBE as a Lord in Waiting (Government Whip).

    • Lord Wilson of Sedgefield as a Lord in Waiting (Government Whip).

     Andrew Gwynne MP has left the government.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press release: Ministerial appointments: 10 February 2025

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    The King has been pleased to approve the following appointments.

    The King has been pleased to approve the following appointments:

    • Ashley Dalton MP as a Parliamentary Under-Secretary of State in the Department of Health and Social Care. 

    • The Rt Hon. Douglas Alexander MP jointly as a Minister of State in the Cabinet Office, in addition to his role as Minister of State in the Department for Business and Trade.

    • Lord Moraes OBE as a Lord in Waiting (Government Whip).

    • Lord Wilson of Sedgefield as a Lord in Waiting (Government Whip).

     Andrew Gwynne MP has left the government.

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: 2024/25 Household Expenditure Survey in progress

    Source: Hong Kong Government special administrative region

    2024/25 Household Expenditure Survey in progress
    2024/25 Household Expenditure Survey in progress
    ************************************************

         The Census and Statistics Department (C&SD) conducts a Household Expenditure Survey (HES) once every five years to collect up-to-date information on the expenditure patterns of households in Hong Kong. This information is an important input for updating the expenditure weights of the Consumer Price Index (CPI). A new round of the 2024/25 HES, which began in mid-September last year, is currently in progress.      With the introduction of new products in the market and changes in people’s living habits, the types of goods and services that people purchase nowadays may differ significantly from those bought a few years ago. The C&SD conducts an HES once every five years to update the items included in the CPIs and their corresponding expenditure shares.      The HES is conducted for a whole year to take into account seasonal variations in household expenditure patterns throughout the year. For instance, Chinese households tend to spend more during the Chinese New Year compared to the rest of the year.      The C&SD expresses gratitude to those households who have participated in the survey and appeals for the support of all households selected for the remaining survey period. The detailed information provided by participating households is crucial for the compilation of the CPIs.      About three weeks before the commencement of each survey cycle, notification letters will be sent to the sampled living quarters to invite the households therein to participate in the survey. Census officers, whose names are shown on the notification letters, will then call on households in the sampled living quarters about one to two weeks after despatch of the letters to explain the purposes and data requirements of the survey. Each census officer will carry a Government Identity Card / Enumerator Identity Card and a Certificate of Identity issued by the C&SD authorising him/her to conduct the survey for inspection. Householders should check carefully the identity of the census officer before admitting him/her to their premises for interviews.      The major results of the 2024/25 HES are expected to be released in mid-2026.      For enquiries about the 2024/25 HES, please contact the Household Expenditure Survey Section of the C&SD at telephone number 2551 6500 or email address hesurvey@censtatd.gov.hk.

     
    Ends/Monday, February 10, 2025Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News