NewzIntel.com

Category: Economy

  • MIL-OSI USA: SBA Announces Over $3 Million in Awards to Advance Local Entrepreneurial Ecosystems for STEM, R&D-Focused Small Businesses and Startups

    Source: United States Small Business Administration

    WASHINGTON – Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, announced the 2024 Growth Accelerator Fund Competition (GAFC) Stage Two winners. Forty-four accelerator partnerships received between $50,000 and $150,000 each to advance their work supporting small businesses and startups in STEM and research and development (R&D) across priority areas like national and economic security, domestic manufacturing and production, and sustainability and biotechnology. 

    “Innovation happens everywhere and the Biden-Harris Administration is continuing to build on its commitment to promote sustainable and inclusive entrepreneurial ecosystems that advance research and development and commercialization in communities across the nation,” said Administrator Guzman. “The 2024 GAFC Stage Two award winners will drive forward the Investing in America agenda and strengthen America’s global competitiveness by continuing to support the expanding and increasingly diverse entrepreneurs across the nation and provide them with the opportunities that lower barriers for market and capital access.”

    GAFC Stage One prizes emphasized ecosystem network building, while Stage Two efforts focus on the enhanced support that can be provided to small businesses and startups through these Growth Accelerator Partnerships. These partnerships span public, private, nonprofit, and academic institutions, fostering collaboration across industries and geographies, with lead awardees headquartered in 34 U.S. states and territories, including Washington, D.C., and Puerto Rico, and assisting innovators nationally.

    “Since its launch in 2014, the SBA’s Growth Accelerator Fund Competition (GAFC) has made a positive difference to local and national innovation-focused entrepreneurship organizations and the communities they support. The competition has grown to be a core component and vital source of support to our nation’s innovation ecosystem. Over the last decade, SBA has awarded 566 prizes totaling over $33 million to winners across the U.S. and U.S. territories. We are delighted to announce 31 of this year’s Stage Two winners are new to the program, and we are inspired to witness communities of ecosystem developers coming together to build new relationships and networks with GAFC funding,” said Bailey G. DeVries, Associate Administrator for SBA’s Office of Investment and Innovation. 

    Growth Accelerator Fund Competition Stage Two Winners

    Learn more about each GAFC partnership in the public directory located at https://bit.ly/GAFC24Directory. 

    National and Economic Security

    • Ala., The Catalyst Center for Business and Entrepreneurship
    • Calif., Starburst Accelerator
    • Colo., Catalyst Accelerator
    • Ind., Central Indiana Corporate Partnership
    • Ind., Indiana Center for Emerging Technologies
    • La., Maven Scouts
    • Md., Rural Autonomous Innovation Network (RAIN) Association of University Research Parks (AURP)
    • Mo., Codefi Foundation on Rural Innovation
    • Mont., Early Stage Montana
    • Neb., Invest Nebraska
    • N.M., NewSpace Nexus

    Domestic Manufacturing and Production

    • Ariz., Startup Tucson
    • Ark., Endeavor NWA Entrepreneurs
    • District of Columbia, National Disability Institute
    • Fla., Florida Institute of Technology
    • Fla., International Business Innovation Association
    • Hawaii, XLR8HI
    • N.C., RIoT
    • N.D., Grand Farm Research and Education Initiative Inc.
    • N.Y., FuzeHub
    • N.Y., Southern Tier High Technology Incubator Inc.
    • Utah, Utah Advanced Materials Manufacturing Institute
    • Wash., 360 Social Impact Studios

    Sustainability and Biotechnology

    • Alaska, Spruce Root Inc.
    • Calif., Los Angeles Cleantech Incubator
    • Conn., The Community Foundation-Mission Investments Company
    • Ill., University of Illinois Research Park LLC
    • Maine, Central Maine Growth Council
    • Mass., SeaAhead Inc.
    • Minn., RuralWorks Partners LLC
    • N.C., Eva Garland Consulting LLC
    • N.Y., The Hudson Valley Venture Hub at SUNY New Paltz
    • Ore., Oregon Health and Science University
    • Pa., University City Science Center
    • Puerto Rico, CARBONO3 LLC
    • Tenn., BioTN Foundation Inc.
    • Tenn., Native American Investment and Capital Alliance
    • Texas, Health Wildcatters
    • Texas, Impact Hub Houston
    • Utah, Altitude Lab
    • Va., FedTech
    • Vt., LaunchVT
    • W.Va., U.S. Research Impact Alliance Corp.
    • Washington, D.C., Women in Engineering ProActive Network 

    “Supported by SBA’s Investment and Innovation Ecosystem Development (IIED) Division, the Growth Accelerator Fund Competition awards boost strategic partnerships that create a national network so entrepreneurs can tap into significant capital and resources. Our work emphasizes the value of strategic connections and relationships across a wide variety of entrepreneur support organizations and accentuates how the work they are doing can successfully impact the growth and advancement of our federal innovation ecosystem,” said Brittany Sickler, Director of Ecosystem Development, for SBA’s Office of Investment and Innovation. “We are changing the trajectory for underserved communities and founders so that more startups and small businesses can scale and grow. “

    For more information about the Growth Accelerator Fund Competition, please visit SBA’s Growth Accelerator Fund Competition (americasseedfund.us). 

    ###

    About SBA Office of Investment and Innovation

    The U.S. Small Business Administration (SBA) Office of Investment and Innovation (OII) leads programs that provide the growth-oriented small business and startup community with access to financial capital, networks, assistance, and R&D funds to develop commercially viable innovations. Our work is underpinned by public-private partnerships that help small businesses on their trajectory from idea to IPO. 
     

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI: Boussard & Gavaudan Holding Ltd (GBP): Results of Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Boussard & Gavaudan Holding Limited (the “Company”)
    a closed-ended investment company incorporated with limited liability under the laws of Guernsey
    with registration number 45582

    Legal Entity Identifier: 5493002XNM3W9D6DF327

    Results of Annual General Meeting

    The Company hereby gives notification that at the annual general meeting of the Company held on Wednesday, 25 September, 2024 at 11.30 a.m., all resolutions set out in the notice of meeting were duly passed. The Board would like to thank the shareholders of the Company for their continued support.

    The details of all resolutions passed are as follows:

    ORDINARY BUSINESS – ORDINARY RESOLUTIONS

    1.        That the Company’s annual report and audited financial statements for the year ended 31 December 2023 be received. (2,093,048 votes cast, all in favour, none against and none withheld)

    2.        That Mr Erich Bonnet who, being eligible and having offered himself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    3.        That Ms Sylvie Sauton who, being eligible and having offered herself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    4.        That Mr Luke Allen who, being eligible and having offered himself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    5.        That Mr Frédéric Hervouet who, being eligible and having offered himself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    For further information, please contact:

    Boussard & Gavaudan Investment Management, LLP
    Emmanuel Gavaudan
    +44 20 3751 5389

    JTC Fund Solutions (Guernsey) Limited
    Secretary
    +44 (0) 1481 702400

    25 September, 2024
    Website: www.bgholdingltd.com

    The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has been authorised by the Guernsey Financial Services Commission as an authorised closed-ended investment scheme. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). The shares of the Company (the “Shares”) are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc’s main market for listed securities.

    This is not an offer to sell or a solicitation of any offer to buy any securities in the United States or in any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

    Neither the Company nor BG Master Fund ICAV have been, and neither will be, registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition the securities referenced in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”). Consequently any such securities may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons except in accordance with the Securities Act or an exemption therefrom and under circumstances which will not require the issuer of such securities to register under the Investment Company Act. No public offering of any securities will be made in the United States.

    You should always bear in mind that:

    • all investment is subject to risk;
    • results in the past are no guarantee of future results;
    • the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and
    • if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice.

    This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice.

    END OF ANNOUNCEMENT

    Attachment

    The MIL Network –

  • MIL-OSI: Boussard & Gavaudan Holding Ltd (EUR): Results of Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Boussard & Gavaudan Holding Limited (the “Company”)
    a closed-ended investment company incorporated with limited liability under the laws of Guernsey
    with registration number 45582

    Legal Entity Identifier: 5493002XNM3W9D6DF327

    Results of Annual General Meeting

    The Company hereby gives notification that at the annual general meeting of the Company held on Wednesday, 25 September, 2024 at 11.30 a.m., all resolutions set out in the notice of meeting were duly passed. The Board would like to thank the shareholders of the Company for their continued support.

    The details of all resolutions passed are as follows:

    ORDINARY BUSINESS – ORDINARY RESOLUTIONS

    1.        That the Company’s annual report and audited financial statements for the year ended 31 December 2023 be received. (2,093,048 votes cast, all in favour, none against and none withheld)

    2.        That Mr Erich Bonnet who, being eligible and having offered himself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    3.        That Ms Sylvie Sauton who, being eligible and having offered herself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    4.        That Mr Luke Allen who, being eligible and having offered himself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    5.        That Mr Frédéric Hervouet who, being eligible and having offered himself for re-election, be re-appointed as a director of the Company. (2,093,048 votes cast, all in favour, none against and none withheld)

    For further information, please contact:

    Boussard & Gavaudan Investment Management, LLP
    Emmanuel Gavaudan
    +44 20 3751 5389

    JTC Fund Solutions (Guernsey) Limited
    Secretary
    +44 (0) 1481 702400

    25 September, 2024
    Website: www.bgholdingltd.com

    The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has been authorised by the Guernsey Financial Services Commission as an authorised closed-ended investment scheme. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). The shares of the Company (the “Shares”) are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc’s main market for listed securities.

    This is not an offer to sell or a solicitation of any offer to buy any securities in the United States or in any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

    Neither the Company nor BG Master Fund ICAV have been, and neither will be, registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition the securities referenced in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”). Consequently any such securities may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons except in accordance with the Securities Act or an exemption therefrom and under circumstances which will not require the issuer of such securities to register under the Investment Company Act. No public offering of any securities will be made in the United States.

    You should always bear in mind that:

    • all investment is subject to risk;
    • results in the past are no guarantee of future results;
    • the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and
    • if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice.

    This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice.

    END OF ANNOUNCEMENT

    Attachment

    The MIL Network –

  • MIL-OSI USA: Romney, Manchin, Warner, Braun Introduce Bipartisan Legislation to Assess U.S. Resilience to Fiscal Shocks

    US Senate News:

    Source: United States Senator Mitt Romney (R-UT)

    WASHINGTON—U.S. Senators Mitt Romney (R-UT), Joe Manchin (I-WV), Mark Warner (D-VA), and Mike Braun (R-IN) today introduced the Reassuring Economic Stability In Light of International, Economic, and Natural Conflicts and Emergencies (RESILIENCE) Act. The bipartisan legislation would require the U.S. Treasury Secretary and Director of the Office of Management and Budget (OMB) to conduct annual examinations on the federal government’s ability to respond to hypothetical domestic and international fiscal shocks.

    “With the national debt at a staggering $35 trillion, our country is on the fast track to fiscal calamity,” said Senator Romney. “It’s not outside of the realm of possibility that a national or global event—such as a recession, armed conflict, or domestic energy crisis—would expedite that process and leave American families, businesses, and our country in economic peril. Better understanding the federal government’s abilities to respond to major, unanticipated economic events will equip us with needed insight to help proactively strengthen the United States’ resilience to potential fiscal shocks.”

    “This past July, our national debt exceeded $35 trillion for the first time in history. Make no mistake – this is the greatest threat America is facing,” Senator Manchin said. “I’m proud to introduce the RESILIENCE Act with my bipartisan colleagues to establish these critical, comprehensive annual examinations of our nation’s finances, which will better inform Congress and the American public on the most effective solutions for getting our fiscal house back in order. Every West Virginian and American is personally responsible for managing the debts they incur and the federal government must be held to the same standard for the sake of our children, grandchildren and the American Dream.”

    “This common-sense legislation requires the federal government to conduct annual tests to ensure that our finances can withstand potentially catastrophic global events,” Senator Warner said. “It is our responsibility to ensure that we are not caught on our heels when responding to the next crisis, and this legislation would do just that.”

    “Our nation’s fiscal health is in dire straits and the enormous national debt is the number one threat to our national security. The RESILIENCE Act would establish a thorough examination of our federal government’s finances, so we can reestablish fiscal discipline and make sure we are prepared for any domestic or international crisis,” said Senator Braun.

    Specifically, the annual examination would assess the ability of the federal government to respond to the following events:

    • An economic recession or depression;
    • A domestic energy crisis;
    • A catastrophic natural disaster;
    • A health crisis, such as a pandemic;
    • A significant armed conflict or event;
    • A significant cyberattack; and
    • A financial crisis.

    As it does with the annual Financial Report of the United States Government, the Government Accountability Office (GAO) would conduct an independent review of the examination and relay its findings to Congress and the American public.

    Full text of the RESILIENCE Act is available here.

    MIL OSI USA News –

  • MIL-OSI Canada: Investor Alert: Bitcoinup Is Not Registered

    Source: Government of Canada regional news

    Released on September 25, 2024

    The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors in Saskatchewan of the online entity BitcoinUP.

    “Do your research before engaging with online investment entities,” FCAA Securities Division Executive Director Dean Murrison said. “Ensure that the entity you are investing with is registered to trade in Saskatchewan at aretheyregistered.ca.”

    BitcoinUP claims to offer Saskatchewan residents trading opportunities, including stocks, forex, commodities, currency pairs and cryptocurrencies.

    BitcoinUP is not registered in Saskatchewan to trade or sell securities or derivatives. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses. 

    If you have invested with BitcoinUP or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

    In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.

    Tips to protect yourself:

    • Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators’ National Registration Search. 
    • Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
    • Get a second opinion and seek professional advice about the investment.
    • Do not allow unknown or unverified individuals to remotely access your computer.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: Saskatchewan Exports to Latin America Reach Record $5.4 Billion in 2023

    Source: Government of Canada regional news

    Released on September 25, 2024

    Record Exports to Latin America Reported for Second Consecutive Year

    Saskatchewan’s exports to Latin America reached a new provincial record of $5.4 billion last year driven primarily by potash and agri-food products. Potash accounted for 54.5 per cent of exports in 2023 at nearly $3 billion, while agri-food products totaled over $2.4 billion.

    Exports to Peru also increased by 19.3 per cent in April to June 2024 compared to the same period last year for a total export value of $105.5 million. 

    “The Latin American region is a vital component of our government’s strategy to expand our province’s trade network and export more Saskatchewan products around the world,” Trade and Export Development Minister Jeremy Harrison said. “Global food security continues to be a priority for our province. These numbers show that our international engagement efforts to promote Saskatchewan as a reliable supplier of food and fertilizer on the world stage are working. This significant growth in or province’s exports creates new jobs and economic opportunities for Saskatchewan’s strong and vibrant communities.” 

    Top agri-food commodities to the region include non-durum wheat, which increased 30.5 per cent from 2022, canola seed, lentils, canola oil, durum wheat and dried peas. The five top countries in Latin America for 2023 were Brazil, Mexico, Colombia, Peru and Ecuador, accounting for 85 per cent of Saskatchewan’s exports to the region.

    Saskatchewan’s trade and investment office in Mexico City, which opened in 2022, continues to facilitate new partnerships and grow trade relationships in the region. In September 2023, the office supported a trade and investment mission to Mexico led by Saskatchewan Agriculture Minister David Marit that focused on promoting the province’s agricultural and mining sectors. 

    “Saskatchewan’s agriculture sector continues to make an impact on the global stage – and our increased presence in Latin America is no exception,” Agriculture Minister David Marit said. “Our producers and value-added businesses are able and willing to provide sustainable, high-quality agri-food products to nourish the world and boost our provincial economy.” 

    Earlier this year, Saskatchewan’s Mexico Office assisted Saskatchewan Trade and Export Partnership (STEP) to lead eight Saskatchewan companies in a trade mission to Peru and Mexico which resulted in over 186 business-to-business connections and sales of over $1 million in agricultural commodities. 

    The Government of Saskatchewan recently unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada. 

    For more information visit InvestSK.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Security: European prosecutors join forces to systemically fight organised criminal groups in new network

    Source: Eurojust

    An important step in the fight against organised crime has been taken today with the launch of the European Judicial Organised Crime Network (EJOCN), hosted at Eurojust. The complex and fast-evolving nature of major crimes in Europe make strengthening international judicial coordination necessary. The EJOCN will go beyond the investigation-based collaboration and combat organised crime strategically. Dangerous criminal groups active in drug trafficking, money laundering, human trafficking, migrant smuggling, cybercrime and more will now face the full force of specialised prosecutors from all 27 EU Member States.

    76 per cent of criminal groups in the EU are active in two to seven countries and profits from all illicit activities are estimated at around EUR 139 billion annually. Dismantling these groups requires a transnational approach that is fast and flexible and that can adapt to an ever-changing criminal landscape. The EJOCN will focus on horizontal issues that arise in the investigation and prosecution of high-risk criminal networks. It will allow prosecutors to tackle recurring legal challenges and identify new, practical opportunities to cooperate.

    Over the past 20 years, Eurojust has built up a solid track record in providing operational, technical, logistical and financial support to national prosecutors active in the fight against organised crime. The work of the EJOCN will benefit from Eurojust’s unique operational expertise in setting up joint investigation teams and using other judicial cooperation tools in cross-border criminal investigations.

    Eurojust President, Mr Ladislav Hamran, commented on the launch of the network: ‘Today, we step up the fight against organised crime across the European Union. Supported by Eurojust, the European Judicial Organised Crime Network will strengthen coordination among specialist prosecutors and judges throughout the EU and will reinforce our commitment to justice and security for all citizens. Through closer collaboration and by aligning judicial strategies across Member States, we send a clear message: organised crime knows no borders, but neither does our resolve to investigate and prosecute.’

    The network was officially launched at Eurojust on 25 September. Prosecutors from all Member States came together in The Hague to discuss the scope, vision and practical functioning of the EJOCN. High-level representatives such as Didier Reynders, EU Commissioner for Justice, and Ylva Johansson, EU Commissioner for Home Affairs, addressed the participants during the opening.

    The EJOCN will address the poly-criminal nature of criminal networks and their agility in adapting to changes in the criminal environment. The EJOCN’s initial priority focus is combatting drug-related organised crime connected to European ports and other logistic hubs. As key gateways to Europe, ports are not only important hubs for trade but also for crime. 70 per cent of drug seizures done by customs take place in ports. The availability of illicit drugs continues to increase, making drug trafficking one of the most lucrative revenue sources for international criminals. According to Europol’s report on the EU’s most threatening criminal networks, 50 per cent of networks active in the EU are involved in drug trafficking. Criminals active in drug trafficking often resort to extreme violence, money laundering and other offences.

    Eurojust has been actively working with national authorities to combat drug trafficking. The number of drug trafficking cases at Eurojust has doubled since 2020. In 2023 alone, Eurojust worked on almost 2 500 cases that led to the seizure of drugs worth more than EUR 25 billion. More on Eurojust casework can be found here.

    Facts and Figures

    MIL Security OSI –

  • MIL-OSI: Weekly share repurchase program transaction details

    Source: GlobeNewswire (MIL-OSI)

    September 25, 2024

    SBM Offshore reports the transaction details related to its EUR130 million (c. US$140 million) share repurchase program for the period September 19, 2024 through September 25, 2024.

    The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024, effective from March 1, 2024 and increased by EUR65 million as announced on August 8, 2024. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period March 1, 2024 through September 25, 2024 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company’s website.

    Share Repurchase Program    
           
    Overall progress Share Repurchase Program:    
             
    Total Repurchase Amount   EUR 130,000,000  
    Cumulative Repurchase Amount   EUR 56,484,588  
    Cumulative Quantity Repurchased   3,803,539  
    Cumulative Average Repurchase Price   EUR 14.85  
    Start Date     March 1, 2024  
    Percentage of program completed as of September 25, 2024 43.45%  
             
    Overview of details of last 5 trading days:    
             
    Trade Date Quantity Repurchased Average Purchase Price Settlement Amount  
    September 19, 2024 35,289 EUR 16.47 EUR 581,240  
    September 20, 2024 35,937 EUR 16.46 EUR 591,499  
    September 23, 2024 34,590 EUR 16.47 EUR 569,538  
    September 24, 2024 30,183 EUR 16.76 EUR 505,962  
    September 25, 2024 48,519 EUR 16.48 EUR 799,830  
    Total 184,518 EUR 16.52 EUR 3,048,069  

            
    1All shares purchased via Euronext Amsterdam, CBOE DXE and or Turquoise

    This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore’s current share repurchase program, as announced by the Company on February 29, 2024 and August 8, 2024, details of which are available on its website.

            
    Corporate Profile

    SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.

    More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Third Quarter 2024 Trading Update   November 14 2024
    Full Year 2024 Earnings   February 20 2025
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025

    For further information, please contact:

    Investor Relations
    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Evelyn Tachau Brown
    Group Communications & Change Director

    Market Abuse Regulation

    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer

    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

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    The MIL Network –

  • MIL-OSI Economics: New Report: How PJM Can Reform Its Interconnection Processes to Expedite Battery Storage and Avoid Looming Electricity Shortfall

    Source: American Clean Power Association (ACP)

    Headline: New Report: How PJM Can Reform Its Interconnection Processes to Expedite Battery Storage and Avoid Looming Electricity Shortfall

    WASHINGTON, D.C. — PJM Interconnection (PJM), America’s largest electric grid operator with a service territory that spans 13 states and the District of Columbia, risks a shortfall of electricity within the next six years yet continues to apply processes that discourage the deployment of battery energy storage systems (BESS), according to a new Gabel Associates, Inc. report commissioned by the American Council on Renewable Energy (ACORE) in partnership with the American Clean Power Association (ACP) and the Solar Energy Industries Association (SEIA).
    The paper outlines how PJM has prevented storage technologies from using a tool to expedite connection to the grid, Surplus Interconnection Service (SIS), that has been endorsed by the Federal Energy Regulatory Commission (FERC) and successfully utilized by other grid operators.
    “Electricity demand in the Mid-Atlantic region is rapidly rising, but the good news is that there is a large amount of clean energy waiting to come online to maintain the grid’s reliability,” said ACORE President and CEO Ray Long. “SIS is an important tool for efficiently accelerating the deployment of new resources, especially battery storage that will provide much-needed capacity for the region.”
    ReSISting a Resource Shortfall: Fixing PJM’s Surplus Interconnection Service (SIS) to Enable Battery Storage offers concrete recommendations PJM can immediately take to ensure the timely development of storage in the Mid-Atlantic region, including:
    Eliminate the current prohibition of SIS participation by grid-charging BESS resources
    Harmonize BESS and pumped hydro storage modeling assumptions
    Adopt FERC’s standard allowing SIS if resources do not trigger the need for new network upgrades
    “The need to accelerate the deployment of high-capacity value resources like battery storage is acute as the rapid pace of load growth and legacy generation resource retirements challenge resource adequacy in PJM,” said Mike Borgatti, Senior Vice President, Gabel Associates Inc. “Surplus Interconnection Service provides an important opportunity to maximize the potential for our existing transmission grid to accommodate new resources.”
    “Timely deployment of new resources is necessary to meet rapidly rising energy demand and prevent impending electricity shortages,” said ACP Vice President of Energy Storage Noah Roberts. “Energy storage has already proven its ability to efficiently provide substantial new capacity in other regions across the country, stabilizing the grid and reducing costs. PJM can use several vetted and FERC-endorsed tools, including SIS, to expedite energy storage deployment and boost reliability and affordability across the region.”
    “To avoid a capacity shortfall in the PJM region, we need to use every tool we have to quickly and efficiently add clean energy resources to the grid,” said Melissa Alfano, Senior Director of Energy Markets and Counsel at SEIA. “This report shows that we have an opportunity to fast-track interconnection approvals for additional generation and that PJM has the authority to grant these requests. Solar developers are eager to meet this growing demand for electricity, but PJM continues to ignore the dispatchable clean energy at its fingertips.”
    To download a copy of the report, click here.
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    Media Contacts:Phil SgroDeputy Director of Media Relations, ACPpsgro@cleanpower.org771.208.9388
    Dylan HelmsManager, Communications, ACOREhelms@acore.org202.935.6491
    Holly ReedSenior Vice President, Gabel Associatesholly@gabelassociates.com732.296.0770
    Jen BristolSenior Director of Communications, SEIAjbristol@seia.org202.556.2886
    About ACORE:For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to renewable energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.
    About Gabel Associates:Gabel Associates, Inc. (gabelassociates.com) is an energy, environmental, and public utility consulting firm with its principal office in Highland Park, New Jersey, and satellite offices in Philadelphia, Pennsylvania, and Rockville, Maryland. For over 30 years, the firm has provided quality energy, environmental, and public utility consulting services and strategic insight to hundreds of clients throughout the United States.

    MIL OSI Economics –

  • MIL-OSI: NANO Nuclear Energy Granted U.S. Department of Energy’s GAIN Voucher Award in Collaboration with Idaho National Laboratory to Support the Novel ‘ZEUS’ Microreactor Heat Exchanger Design

    Source: GlobeNewswire (MIL-OSI)

    The Gateway for Accelerated Innovation in Nuclear (GAIN) Program Voucher was Awarded to Support NANO Nuclear’s Innovation and Application of Advanced Nuclear Technologies

    New York, N.Y., Sept. 25, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced that it has been granted the U.S. Department of Energy’s (DOE) Gateway for Accelerated Innovation in Nuclear (GAIN) Nuclear Energy (NE) voucher award for the independent assessment of its novel heat exchanger concept for open-air Brayton cycle in collaboration with the Idaho National Laboratory (INL). The heat exchanger concept provides a turnkey solution for NANO Nuclear’s patent-pending, proprietary and portable ‘ZEUS’ microreactor, currently in development.

    Figure 1 – NANO Nuclear Energy Inc. Awarded U.S. Department of Energy (DOE) GAIN Nuclear Energy Voucher for an Idaho National Laboratory-led Independent Assessment of its Novel, Turnkey Heat Exchanger Concept in its Advanced Portable Nuclear ‘ZEUS’ Microreactor (pictured rendering).

    U.S. Department of Energy’s GAIN Voucher Award can be found here: https://gain.inl.gov/gain-announces-fourth-round-fy-2024-nuclear-energy-voucher-recipients/ and https://www.energy.gov/ne/articles/4-gain-vouchers-awarded-advance-data-center-microreactor-deployment

    “It is truly an honor for us to be awarded a GAIN NE voucher to further validate and improve upon our novel heat exchanger concept,” said Prof. Massimiliano Fratoni, Ph.D., Senior Director and Head of Reactor Design of NANO Nuclear Energy. “The heat exchanger is an enabling component of our patent-pending ‘ZEUS’ microreactor design, allowing us to keep the system size compact and simplifying its design to match our vision of developing portable, secure and reliable nuclear microreactors to benefit mankind. I look forward to working alongside the leading technical personnel at the Idaho National Laboratory to further refine and progress its design, and I anticipate that this partnership will be pivotal in the future deployment of our innovative microreactor solutions.”

    With this voucher award, NANO Nuclear will collaborate with INL to conduct an independent evaluation of the heat exchanger design for the ‘ZEUS’ microreactor. Designed to fit within a 45-foot high-cube container, the patent-pending ‘ZEUS’ microreactor features a power conversion unit capable of generating 1 to 2 MW of electricity without the use of fluid coolant.

    A key aspect of this design is its ability to dissipate heat from the reactor vessel using an open-air Brayton cycle. The collaboration with INL will involve the development of a computational model to analyze and verify critical attributes of the heat exchanger essential to reactor operations, providing a comprehensive assessment of its performance.

    “The Department of Energy’s GAIN program is a major driver of nuclear innovation in the United States, and we are delighted to collaborate with the Idaho National Laboratory, with whom NANO Nuclear already maintains good relations, to further strengthen this critical component for our patent-pending ‘ZEUS’ microreactor design,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “Our prior experience with INL, where they conducted a pre-conceptual review of our ‘ODIN’ microreactor design, was extremely valuable to us, and we are eager to take the next step in advancing our technology in collaboration with one of the world’s leading nuclear research institutions.”

    The U.S. Department of Energy Office of Nuclear Energy (DOE-NE) launched the GAIN program in 2016 to offer technical, regulatory, and financial support to help the nuclear industry advance innovative technologies toward commercialization. Since its launch, the program has awarded over 100 NE vouchers.

    GAIN NE voucher recipients do not receive direct financial awards as the vouchers provide funding to DOE laboratories (in this case INL) to help businesses overcome critical technological and commercialization challenges. These vouchers thus grant innovators like NANO Nuclear access to the extensive nuclear research expertise and capabilities across the DOE national laboratory complex.

    “The GAIN voucher gives us the opportunity to develop a model to simulate a critical part of the design in a timely and efficient manner,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “It enables us to work alongside the world-class personnel at Idaho National Laboratory and leverage their expertise to model the behavior of this key design choice of our novel heat exchanger concept. This model will serve us well in the future as we integrate it with other design elements to optimize the design for real world applications.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206
    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:
    NANO Nuclear Energy LINKEDIN
    NANO Nuclear Energy YOUTUBE
    NANO Nuclear Energy TWITTER

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including the anticipated benefits of NANO Nuclear’s collaboration with INL via the GAIN NE voucher award as described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) nuclear fuel manufacturing submission and the development of new or advanced technology, including difficulties with design and testing, cost overruns, development of competitive technology, (ii) our ability to obtain contracts and funding to be able to continue operations, (iii) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor technology, (iv) risks related to the impact of government regulation and policies including by the DoE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (v) similar risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and the NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Polis Administration Announces Solid Power Planned Expansion in Colorado: 40 New Jobs in the Renewable Energy Sector

    Source: US State of Colorado

    DENVER – Today, Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that Colorado-based Solid Power, Inc. (Nasdaq: SLDP), an industry-leading developer of next-generation all-solid-state battery technology, plans to expand its presence in the state. 

    “We are thrilled that Solid Power will continue to grow in Colorado, creating new jobs in the renewable energy industry. Companies like Solid Power are helping drive innovation in our state and will play a key role in helping us reach our clean energy goals and achieve 100% renewable energy by 2040,” said Governor Polis. 

    A uniquely Colorado success story, Solid Power was founded in 2011 and grew out of research at the University of Colorado Boulder. In 2021, the company went public and listed on NASDAQ. Solid Power is known for its work with BMW, Ford, and SK On. Most recently it was selected by the U.S. Department of Energy (DOE) to begin award negotiations for up to $50 million in federal funding to install the first globally-known continuous manufacturing process of sulfide-based solid electrolyte materials for advanced all-solid-state batteries (ASSBs) and expand its electrolyte production capabilities at its Thornton, Colorado facility. These materials help create batteries needed for electric vehicles. Colorado is among the top states for EV adoption in the nation, with more than 22% of new cars sold being electric. 

    Solid Power is committed to supporting the transition to renewable energy by developing ASSBs that are expected to have longer life, be safer, and cost less than current lithium-ion batteries. The company chose Colorado for expansion of up to 40 new jobs because of the state’s talent pipeline and the collaborative network of higher education and research institutions. 

    “We are excited to continue expanding our technology development in Colorado,” said John Van Scoter, President and Chief Executive Officer of Solid Power. “As part of the DOE, State of Colorado, and City of Thornton funding, Solid Power will prioritize employee welfare and safety, community engagement, and benefits to local communities, and we look forward to partnering with various groups in Thornton to add talent and advance our goals.” 

    With this expansion, Solid Power expects to create up to 40 net new jobs at an average annual wage of $77,823.90, which is 111% of the average annual wage in Adams County. The positions will include production operators, chemists, and engineers. Solid Power is also partnering with local institutions such as Northglenn High School, Front Range Community College, and Metropolitan State University of Denver for internship programs, as well as a partnership with the local Adams 12 school district. 

    “Solid Power is a true Colorado success story, who’s next chapter will advance the technologies of tomorrow and create new good jobs for Coloradans. That’s a win for our state and the nation, as we look forward toward a more renewable future,” said OEDIT Executive Director Eve Lieberman. 

    The State of Colorado supported Solid Power’s early growth with an Advanced Industries Accelerator grant in 2014, offered through OEDIT’s Global Business Development division to support the development of early-stage technologies. 

    To support the company’s upcoming expansion, the Colorado Economic Development Commission approved up to $160,000 in a performance-based Strategic Fund incentive over an eight-year period, at $4,000 per net new job. These incentives are contingent upon Solid Power, referred to as Project Maverick 2024 throughout the OEDIT review process, meeting net new job creation and salary requirements. 

    “The City Council and I are always delighted to hear that a company in our city is thriving so much that they need to expand their operations here,” says Thornton Mayor Jan Kulmann. “We look forward to the continued growth of Solid Power here in our community. This exciting opportunity for new job development and advanced technologies in the solid-state battery industry further shows Thornton is an attractive destination for business.” 

    “The creation of up to 40 new STEM jobs paying above the annual average wage is wonderful news for the Adams County business community and our residents,” says Board Chair for Adams County Commissioners, Emma Pinter. “Adams County continues to focus on innovative and inclusive initiatives to bring smart growth and opportunities to the area.” 

    In addition to Colorado, Solid Power considered Columbia, South Carolina, for exemption. 

    About Solid Power, Inc. 

    Solid Power is developing solid-state battery technology to enable the next generation of batteries for the fast-growing EV and other markets. Solid Power’s core technology is its electrolyte material, which Solid Power believes can enable extended driving range, longer battery life, improved safety, and lower cost compared to traditional lithium-ion. Solid Power’s business model – selling its electrolyte to cell manufacturers and licensing its cell designs and manufacturing processes – distinguishes the company from many of its competitors who plan to be commercial battery manufacturers. Ultimately, Solid Power endeavors to be a leading producer and distributor of sulfide-based solid electrolyte material for powering both EVs and other applications. For more information, visit http://www.solidpowerbattery.com/. 

    About OEDIT’s Global Business Development Division 

    Global Business Development (GBD) is a division of the Colorado Office of Economic Development and International Trade. GBD supports Colorado businesses and communities by using a data-driven approach to recruit, support, and retain businesses that contribute to a robust and diversified economy. We align our portfolio of programs, services, and incentives with industries that benefit Colorado companies and elevate the state’s national and international competitiveness. GBD also hosts foreign delegations and participates in trade and investment missions around the world to strengthen global awareness of Colorado. With a highly educated and motivated workforce, a thriving innovation economy, and nation-leading entrepreneurial spirit, Colorado is a top market for business development. 

    About Colorado Office of Economic Development and International Trade 

    The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT. 

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    MIL OSI USA News –

  • MIL-OSI USA: NYC’s First Mixed-Use Housing & Light Manufacturing Space

    Source: US State of New York

    Governor Kathy Hochul today announced the completion of a new, mixed-use residential and light manufacturing development, located in Brownsville, Brooklyn. The $118 million complex reimagines the former Fox’s U-Bet Chocolate Syrup factory at Rockaway Avenue and Newport Street as the Greenpoint Manufacturing and Design Center’s Brownsville Industrial Center. The development includes 39,000 square feet of affordable, top-of-the-line light manufacturing space on the ground-floor; Bridge Rockaway, a residential building with 174 units of affordable and supportive housing above the manufacturing space; and a 2,000 square-foot community space, spanning half a city block. It is the first new project in New York City to co-locate affordable housing and light manufacturing space on the same site.

    “Our continued efforts to foster renewal in Central Brooklyn are what this development is all about,” Governor Hochul said. “Bridge Rockaway with its affordable homes and supportive services in combination with light manufacturing, which has long provided the pathways to the middle class for Brooklynites, is spurring a fresh start for this piece of Brownsville. This is what it means to be pro-housing and pro-business. Congratulations to The Bridge, the Greenpoint Manufacturing and Design Center and their partners for bringing these new homes and jobs to the people of Brooklyn.”

    Bridge Rockaway, the residential development at 203 Newport Street, consists of two residential towers – a six-story structure and a seven-story structure – separated by an 11,000-square-foot garden. Units will be affordable to residents earning between 30 percent and 70 percent of the Area Median Income, and 87 units with on-site supportive services will be set-aside for veterans, seniors, and other individuals struggling with homelessness. Residents will have access to the building’s vibrant garden terrace, a reception area with 24/7 staffing, a computer room, community rooms, a bicycle room, and storage and laundry facilities. The Bridge, which operates supportive housing and behavioral health services for New Yorkers living with behavioral health concerns, will own and operate Bridge Rockaway and provide on-site services.

    The GMDC Brownsville Industrial Center at 805 Rockaway Avenue includes 10 units, ranging in size from 1,250 square feet to 6,000 square feet, for light manufacturing businesses that might include custom woodworkers, cabinet makers and artisanal tradespeople, such as set builders and display makers; home goods manufacturers; metal workers and finishers; and garment makers; among others. GMDC’s space features a loading dock with hydraulic lift and a state-of-the-art finishing room for industrial tenants. In addition to these and other services and amenities, GMDC has invested more than $11.5 million abatement measures to ensure the safe coexistence of residential and industrial tenants. GMDC’s project is expected to create up to 35 direct jobs, in addition to indirect jobs and investment. The space is owned and operated by GMDC, a nonprofit industrial developer and property manager with a portfolio of more than 685,000 square feet of industrial space across New York City. The project serves as a model for developing affordable housing on underutilized manufacturing property, while maintaining manufacturing use.

    State support includes a $1.6 million capital grant from Empire State Development to support the GMDC Brownsville Industrial Center, per the recommendation of the New York City Regional Economic Development Council. New York State will also provide $11.4 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that will generate $46 million in equity, and $16.9 million in subsidy through New York State Homes and Community Renewal. The New York State Office of Temporary and Disability Assistance is providing $6.5 million through the Homeless Housing Assistance Program, as well as rental subsidies funded through the Empire State Supportive Housing Initiative.

    Additional funding is being provided by the City and other public and private sources. The New York City Department of Housing Preservation and Development is providing $17.1 million in support of the project’s residential portion. The U.S. Small Business Administration, the New York City Economic Development Corporation, the New York City Neighborhood Capital Corporation, New York City Industrial Development Agency, JP Morgan Chase, the Partnership Fund for New York City, Enterprise Community Loan Fund, and National Grid also provided support.

    The project development team includes The Bridge, Mega Development and Greenpoint Manufacturing and Design Center. The building was designed by THINK! Architecture and Design.

    Governor Hochul’s Housing Agenda

    Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide, and new protections for renters and homeowners. In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 45,000 homes have been created or preserved to date.

    Last August, Governor Hochul also announced the Pro-Housing Communities Program. Pro-Housing Community certification is a requirement for localities to access up to $650 million in State discretionary funding. To date, more than 160 communities have been certified, including New York City.

    Housing and Community Renewal Commissioner RuthAnne Visnauskas said, “The environmentally sustainable coexistence of affordable housing and manufacturing in this $118 million, 174-apartment development offers a promising template for the future. Governor Hochul knows that every thriving community needs both quality homes and business. Bridge Rockaway and the GMDC Brownsville Industrial Center provide both, plus dedicated wraparound services for seniors, veterans and people who have been chronically unhoused. In terms of what this brings to the neighborhood, it is truly a holistic development – the complete package. We at HCR are proud of the part we played, along with our sister agencies, to bring the shared dream of the Bridge and GMDC to fruition.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Today’s ribbon-cutting for Bridge Rockaway and the GMDC Brownsville Industrial Center is a significant step forward in New York State’s commitment to providing affordable housing and driving economic growth in Brooklyn. The inclusion of 39,000 square feet of light manufacturing space not only supports local small businesses but also creates sustainable jobs. This project demonstrates how strategic investments in both housing and manufacturing can uplift communities and build a stronger, more inclusive economy.”

    Office of Temporary and Disability Assistance Commissioner Barbara C. Guinn said, “We are grateful to Governor Hochul for her steadfast commitment to expanding the supply of permanent supportive housing options across New York State and helping vulnerable New Yorkers break the cycle of homelessness. The opening of Bridge Rockaway provides formerly homeless individuals – including those with mental illness, veterans with disabilities and older adults – with much-needed affordable housing in Brownsville, Brooklyn, that includes essential services that will help the residents live safely and successfully in the community.”

    Greenpoint Manufacturing and Design Center CEO Brian T. Coleman said, “After nearly eight years of planning, development and construction, we are thrilled to finally open our doors. This project does what no one thought was possible: putting 39,000 square feet of light manufacturing space, more than 170 units of housing, and a community facility on the same site safely and affordably. Now, as we get ready to welcome our first tenants, I thank our partners at The Bridge, Mega Development, and at every level of government for supporting our vision to transform this block and create a stunning new home for businesses and residents in Brownsville.”

    The Bridge CEO Susan Wiviott said, “When The Bridge conceived this project, our goal was to create much needed supportive and affordable housing while preserving manufacturing uses. This first of its kind project proves a concept that can be replicated across the City. I am deeply grateful to our entire development team, particularly Mega Development, Think! Architecture and Design, and GMDC for seeing this project through to completion. We look forward to welcoming our first residents early next week.”

    New York City Economic Development Corporation (NYCEDC) President & CEO Andrew Kimball said, “GMDC’s Brownsville Industrial Center is a fantastic example of a nontraditional approach to addressing two of the City’s priorities; providing much-needed new affordable housing while also creating modern manufacturing space and good jobs. NYCEDC congratulates GMDC and its partners on this remarkable project that can set a model as we work toward a more affordable and equitable city.”

    NYCREDC Co-Chairs Félix V. Matos Rodríguez and William D. Rahm said, “The NYCREDC is proud to support Bridge Rockaway and the GMDC Brownsville Industrial Center, which not only address the critical need for affordable housing but also strengthens Brownsville’s economy through job creation in the manufacturing sector. By integrating affordable housing with light manufacturing space, we’re creating a vibrant mixed-use environment that will provide both homes and jobs for New Yorkers, fostering long-term benefits for local residents and businesses alike.”

    State Senator Roxanne J. Persaud said, “Thanks to a concerted effort by state, federal and local government funders, Bridge Rockaway is bringing much-needed housing to Brownsville. Of the 174 units, half will be affordable to households earning up to 70 percent Area Median Income (AMI), and the other half will be supportive units for older New Yorkers, veterans and people who have experienced homelessness. This new development is an exciting opportunity for my constituents.”

    Assemblymember Latrice Walker said, “It’s no secret that we have an affordable housing shortage in New York State. The lack of affordable housing is particularly acute among seniors and those who wage a daily battle against homelessness. Not only does a development like Bridge Rockaway offer affordable units, but the complex also offers 87 apartments with supportive services for seniors, veterans and formerly homeless New Yorkers. I’m also excited about the inclusion of manufacturing space that will create up to 35 jobs. Please count me as a resource if you need help connecting people from the community with those job opportunities.”

    New York City Mayor Eric Adams said, “For too long, our zoning laws lived in the past, ignoring the realities of today and the bold possibilities of tomorrow. This new development in Brownsville, Brooklyn is symbolic of the endless potential that still rests in our City. Affordable and supportive housing, industrial development and community space all come together in one mixed-use development, transforming an entire neighborhood. When we open our doors and say, ‘yes’ to housing, jobs and opportunity, there’s nothing our City cannot do.”

    New York City Housing, Economic Development and Workforce Deputy Mayor Maria Torres-Springer said, “Congratulations to the entire development team on the opening of this exciting and path-breaking project, one that will deliver 170 units of affordable and supportive housing and roughly 40,000 square feet of industrial space. This $118M project exemplifies the spirit of the City of Yes and a modern, flexible approach to building housing while simultaneously supporting a modern industrial sector.”

    Brooklyn Borough President Antonio Reynoso said, “New housing and new jobs are a recipe for economic success, and the Bridge Rockaway and GMDC Brownsville Industrial Center complex brings that mixed-use success to our borough. Thanks to this new complex, our neighbors in eastern Brooklyn will have 174 units of new housing, with 87 apartments dedicated to older adults, veterans, and chronically homeless adults, as well as tens of new manufacturing jobs that will benefit Brooklyn’s economy. I am proud to see this mixed-use development come to our borough and thank the many partners who made this day possible.”

    MIL OSI USA News –

  • MIL-OSI USA: Grants Support Zero-Emission Vehicle Fleets

    Source: US State of New York

    Governor Kathy Hochul today announced $5.5 million available in grants for municipalities to support the installation of electric vehicle chargers, including hydrogen fuel filling station components and Level 2 and direct current fast chargers, as part of the New York State Department of Environmental Conservation’s Municipal Zero-Emission Vehicle Infrastructure Grants program. These projects support New York’s ongoing efforts to advance clean transportation and help the State achieve the greenhouse gas emission reduction requirements of the Climate Leadership and Community Protection Act.

    “New York is committed to advancing and energizing the transition to a cleaner, healthier, and more efficient transportation future,” Governor Hochul said. “Our sustained investments in electric vehicle infrastructure across the State will help encourage more drivers to make the switch to EVs, promote greener alternatives for transportation, and combat climate change.”

    The 2024 round of the Department of Environmental Conservation’s (DEC) Municipal Zero-Emission Vehicle (ZEV) Infrastructure program opened on Sept. 25 with $5.5 million available. Additional information can be found in the request for applications (RFA) document. The deadline for applications is 4 p.m. on Feb. 28, 2025.

    The program includes a variable local match requirement based on the municipality’s median household income (MHI) and whether the ZEV infrastructure is located in a disadvantaged community, based on the disadvantaged communities criteria developed by the Climate Justice Working Group.

    Eligible expenses incurred between Oct. 1, 2023, and Sept. 20, 2026, are eligible for reimbursement.

    Applications are available through the Consolidated Funding Application under the title “2024 Municipal ZEV Infrastructure Grants.”

    To be eligible for an award, applicants must be registered in the NYS Statewide Financial System Grant Management System (SFS GM). Information regarding registration in SFS GM can be found on the Grants Management website. More information about the DEC Municipal ZEV Infrastructure Grant program, as well as the DEC Municipal ZEV Rebate program, is available on DEC’s website. For questions about the Municipal ZEV program, email [email protected] or call DEC’s Office of Climate Change at 518-402-8448.

    New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “With Governor Hochul’s sustained commitment to ensuring a cleaner, greener future, New York continues to be a leader advancing the State’s transition to clean transportation to help achieve our climate targets. The Municipal ZEV Infrastructure Grant program makes it even easier, more accessible, and more affordable to make the switch to greener vehicles and is expanding New York’s EV charging station network. DEC looks forward to continuing to support municipalities statewide that are taking climate action, investing in electric transportation, and helping facilitate the clean energy economy of the future.”

    State Senator Peter Harckham said, “Our transportation sector is a major source of climate and air pollution in New York. The DEC’s Municipal Zero Emission Vehicle Infrastructure grants program will accelerate the transition to an emissions free future, where we all can breathe easier. This is a good example of how the state and local governments, working together, can create a cleaner, greener New York.”

    Assemblymember Deborah Glick said, “Reducing greenhouse gas emissions by shifting to vehicles that do not rely on fossil fuels is essential for New York to achieve our climate goals. One major obstacle to the public’s adoption of electric vehicles is the lack of publicly available charging stations. Making it easier for municipalities to step up and expand this critical piece of the green infrastructure puzzle is welcome news. Thank you to Governor Hochul for this important $5.5 million investment in NYDEC’s Municipal Zero-Emission Vehicle Infrastructure Grants program to help expand this green infrastructure throughout New York, helping us to further achieve our climate goals.”

    New York State’s Nation-Leading Climate Plan

    New York State’s climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that a minimum of 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation’s most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts – including the New York Cap-and-Invest program (NYCI) and other complementary policies – to reduce greenhouse gas emissions 40 percent by 2030 and 85 percent by 2050 from 1990 levels. New York is also on a path toward a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York’s unprecedented clean energy investments, including more than $28 billion in 61 large-scale renewable and transmission projects across the State, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and over $2 billion in NY Green Bank commitments. These and other investments are supporting more than 170,000 jobs in New York’s clean energy sector as of 2022 and over 3,000 percent growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and light-duty trucks sold in the State be zero emission by 2035. Partnerships are continuing to advance New York’s climate action with more than 420 registered and more than 150 certified Climate Smart Communities, over 500 Clean Energy Communities, and the State’s largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution and combat climate change.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Scott Leads Effort to Increase Access to Capital, Create Investment Opportunities

    US Senate News:

    Source: United States Senator for South Carolina Tim Scott

    WASHINGTON — U.S. Senator Tim Scott (R-S.C.), the top Republican on the U.S. Senate Committee on Banking, Housing, and Urban Affairs, is leading legislation to revitalize the businesses within our communities and open up our capital markets to all Americans. Senator Scott’s Empowering Main Street in America Act will boost avenues for capital formation that create jobs and generate economic growth.

    Senate Banking Committee members, including Senators Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), John Kennedy (R-La.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Katie Britt (R-Ala.), Kevin Cramer (R-N.D.), and Steve Daines (R-Mont.), joined Senator Scott on the legislation. Senator Jerry Moran (R-Kan.) is also a co-sponsor of the bill.

    “Our capital markets system is the envy of the world and has helped many Americans build wealth and save for their futures. But unfortunately for individuals in communities like the one I grew up in, investing in a local venture or raising capital to grow a business seems out of reach. We need to change that – and this comprehensive legislation will create economic opportunity and provide more Americans with the resources necessary to achieve financial security for their families and realize their version of the American Dream, while ensuring small business owners can access capital to grow and innovate,” said Senator Scott.

    At yesterday’s Punchbowl News event, Senator Scott highlighted how the legislation will improve access to capital for entrepreneurs across the country, tailor regulations for small and newly public companies looking to grow and expand their operations, and create new avenues for hardworking Americans to invest in their community.

    Click here to watch the full discussion.

    Senator Scott’s legislation, in part, is the result of feedback from his from his February 2024 roundtable with Black investors and business founders discussing ways to improve minority communities’ access to capital. Here’s what the roundtable participants had to say on the bill:

    “I thank Senator Tim Scott (R-SC) for his leadership in introducing the Empowering Main Street in America Act (EMSAA), which will significantly improve access to capital for all entrepreneurs and investors. I had the good fortune to participate in a roundtable that Senator Scott hosted in February with Black founders and investors, and I am very pleased to see many of the insights raised at that event reflected in the legislation. I launched RareBreed in response to the lack of access to capital for founders of color and founders outside the major investment hubs of Silicon Valley, New York, and Boston. Current rules price out many accredited investors, especially those of color, from participating in investment funds. This limits capital to drive innovation, economic growth, and job creation, and restricts capital invested in founders of color. We know this because research has shown that Black-led funds are four times as likely to invest in a Black-led company. The EMSAA will provide accredited investors of color more opportunities to participate in venture capital at lower minimums, helping to reduce risk, better diversify investments, and create wealth in communities of color. As someone who has spent my entire career in venture capital as an advocate for reducing barriers and expanding participation, I applaud this legislation and look forward to supporting its passage any way I can,” said McKeever “Mac” Conwell, Managing Partner, RareBreed Ventures.

    “Entrepreneurs don’t need to be in Silicon Valley or Wall Street to deserve access to capital. To truly foster innovation and growth, we must meet entrepreneurs where they are—whether in rural communities, urban centers, or underserved areas. The Empowering Main Street in America Act will help ensure entrepreneurs, regardless of location, have the financial resources they need to launch and grow their business, driving local economies and building stronger communities nationwide,” said Herbert Drayton III, Managing Partner, HI Mark Capital.

    “This legislative solution tears down barriers and fuels economic growth from the ground up. It’s about ensuring that every American has the opportunity to build a business, invest, and achieve financial security. The message from our roundtable was clear: strengthen our capital markets, foster entrepreneurship, make financial literacy a priority, and create pathways to prosperity for all,” said Ryan Frazier, Managing Partner and CEO, Frazier Global.

    For a section-by-section on the bill, click here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Infrastructure Sector – Identifying New Zealand’s infrastructure needs – for today and tomorrow

    Source: New Zealand Infrastructure Commission

    The New Zealand Infrastructure Commission has just released ‘ Paying it forward: Understanding our long-term infrastructure needs’ to share our emerging thinking on what will drive future infrastructure spending demands.
    “One of the roles of the Commission is to provide a long-term view on New Zealand’s infrastructure needs. This is a key part of our work on developing the National infrastructure Plan,” says Peter Nunns, Acting General Manager – Strategy, the New Zealand Infrastructure Commission.
    “Our work identifies eight drivers of future infrastructure investment, including population growth and demographic changes, decarbonising our economy, and building resilience to natural hazards.
    “While the future is uncertain, some pressures on our networks are easier to foresee than others. For instance, so long as we have good information on the size and condition of existing assets, we can forecast what we will need to spend to maintain and replace them.
    “Other future drivers, like population growth and demographic change, are harder to predict. Looking back, we estimate that population growth and population ageing accounted for over 60% of the growth in our public infrastructure networks from 1960 to 2019,” says Nunns.
    “Looking forward, we know that New Zealand’s demographic future will be different than its past, but it’s hard to be certain about how, where, and when we will see the impacts. Declining fertility rates mean overall population growth is expected to slow, and that it will be increasingly driven by migration, which is difficult to predict.
    “Our population is also ageing and diversifying. This affects not only how much we need to invest in infrastructure in the future, but what types of infrastructure we need to invest in. For instance, older people use hospital and medical facilities more, whereas schools and universities are used mainly by younger people. This has implications for what we’re thinking about building today and how we’re preparing for tomorrow,” says Nunns.
    “We also need to be realistic about how much money we have to invest. Over the last 20 years, we’ve opted to spend around 5.0% to 6.5% of our GDP on all types of infrastructure. To give a sense of scale for the year 2024, 5.8% of GDP, the average we’ve spent since 2003, is around $24 billion.
    “However, not all of this money is available to build new infrastructure. After accounting for what we need to spend replacing and renewing existing infrastructure that is reaching the end of its life, this leaves around $10 billion for new or improved infrastructure across all levels of government and the private sector. While this is a lot of money, given how extensive and valuable our networks are, it is not big enough to avoid thinking about trade-offs,” says Nunns.
    “So, we need to carefully consider how we will address our infrastructure challenges. The work we’re doing on this will feed into the National Infrastructure Plan and help us begin to spotlight the types of infrastructure investment that can help meet our needs and represent strong and credible investments in New Zealand’s future.”
    Background information
    The Commission’s approach to assessing long-term infrastructure needs considers trade-offs. Infrastructure is not free, so our approach to meeting needs must balance the benefit of investment against its costs. With this in mind, our approach to assessing needs is grounded in the following three themes:
    What is the current state of our networks?
    • Understanding needs requires first knowing what we have.
    • In 2022, New Zealand’s infrastructure was worth around $287 billion in total. This is equal to $55,800 of infrastructure per New Zealander.
    • Compared to the median OECD country, we have a typical amount of physical infrastructure per capita.
    • Our previous work has highlighted that we also spend a similar share of our gross domestic product (GDP) on network infrastructure as other high-income countries, but we are comparatively worse at delivering infrastructure outcomes for our spending.
    What are we willing to pay for infrastructure?
    • Over the last 20 years, the share of our GDP invested in all types of infrastructure has ranged from 5.0% to 6.5% of GDP, with an average of 5.8% across government and the private sector.
    • However, in the long run almost 60% of this spending will be needed just to renew or replace what we already have, rather than building new infrastructure.
    • To give a sense of scale for the year 2024, 5.8% of GDP, the average we’ve spent since 2003, is around $24 billion. This leaves around $10 billion for new or improved infrastructure. While this is a lot of money, given how extensive and valuable our networks are, it is not big enough to avoid thinking about trade-offs.
    Where and how should we invest in the future?
    • Based on our previous work, our legislation, and a review of international practices, we have identified eight factors that can cause the need for infrastructure investment to change over time, both in total and at a sector or regional level: renewing existing infrastructure; population growth and demographic change; economic development and changing standards; resilience to natural hazards; decarbonising our economy; technology change; construction price inflation; and shortage of existing infrastructure.
    • Previous work by the Commission has examined some of these drivers. This report summarises our existing evidence base in each area, and further explores the impact of population growth and demographic change on infrastructure.
    • From 1960 to 2019, population growth explains over 40% of the growth in our infrastructure networks, while population ageing explains about 24%.
    • Future demographic projections point to lower fertility and population growth rates. Future population growth is likely to be increasingly reliant on migration and will be more volatile as a result.
    • Our ageing population will likely have effects on the types of infrastructure that will be required in the future. For example, older New Zealanders are much more likely to use hospital services, while younger New Zealanders are much more likely to use education infrastructure.
    The National Infrastructure Plan: The New Zealand Infrastructure Commission, Te Waihanga, has been asked by the Government to develop a long-term National Infrastructure Plan. The final Plan will be delivered to the Government in December 2025. The Plan will build on the New Zealand Infrastructure Strategy and set out what’s already planned to be spent on both looking after existing infrastructure and investment intentions over the next 10 years. The Plan will also begin to spotlight the projects that can help meet our needs and represent strong and credible investments in New Zealand’s futures.

    MIL OSI New Zealand News –

  • MIL-OSI Security: Founder and Former CEO of Artificial Intelligence Start-Up SKAEL Charged with Securities Fraud and Wire Fraud

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

    Defendant Allegedly Raised Over $40 Million While Misrepresenting Financial and Sales Information

    SAN FRANCISCO – A federal grand jury indicted Baba Nadimpalli, the founder and former Chief Executive Officer of SKAEL, Inc. (SKAEL), with securities and wire fraud for defrauding investors and misleading them about the company’s revenue, annual recurring revenue (ARR), and other financial and sales information.

    According to an indictment filed Jan. 17, 2024 and unsealed Sept. 23, 2024, Nadimpalli, 41, a citizen of Australia who resided in San Francisco, Calif., founded SKAEL in 2016 and served as its Chief Executive Officer from 2016 until July 2022.  SKAEL was a San Francisco-based, software-as-a-service (“Saas”) company that claimed to provide its corporate clients with artificial intelligence and automation software to assist customers with mundane, time-intensive tasks by building “Digital Employees,” which SKAEL claimed could connect databases, synthesize large amounts of information, provide information and insights, and perform tasks.  SKAEL earned revenue by charging implementation fees for the building of Digital Employees and subscription fees for the use of the Digital Employees once they were built.

    The indictment alleges that from January 2020 until about February 2022, SKAEL raised over $40 million in three rounds of financing. To induce prospective and existing investors to invest, Nadimpalli allegedly made false claims regarding SKAEL’s revenue and ARR (a measure of total revenue expected per year from committed customers with signed contracts, an important metric for investors), as well as customer and sales information.  For example, in or around 2021, Nadimpalli allegedly provided materially false information to investors in advance of their investments in SKAEL, including representing that SKAEL was receiving ARR from certain companies that did not subscribe to SKAEL’s software and services; overstating ARR from certain customers who were SKAEL customers; and representing that customers who had terminated their SKAEL subscriptions were current customers with ARR.

    The indictment further alleges that in or around February 2022, SKAEL raised approximately $30 million in a Series A preferred stock offering which valued SKAEL at approximately $230 million after closing. In connection with the stock offering, Nadimpalli allegedly directed the creation of an electronic data room for potential investors that contained (1) a spreadsheet that Nadimpalli maintained that contained materially false information about the company’s ARR and customers; (2) a materially false profit and loss statement; (3) a financial metrics spreadsheet that contained materially false subscription revenue and ARR amounts; and (4) an investor presentation that contained materially false information about the company’s ARR, revenue, and customer adoption.

    As described in the indictment, in furtherance of the scheme, Nadimpalli provided an investor and a financial employee false bank account information that included purported customer payments that had not actually been deposited.

    Nadimpalli is charged with three counts of securities fraud and seven counts of wire fraud.  If convicted of securities fraud, he faces a maximum sentence of 20 years in prison and a fine of $5,000,000.  If convicted of wire fraud, he faces a maximum sentence of 20 years in prison and a fine of $250,000.  However, any sentence following conviction would be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    An indictment merely alleges that crimes have been committed and the defendant is presumed innocent unless and until proven guilty.

    The announcement was made by U.S. Attorney Ismail J. Ramsey and Federal Bureau of Investigation (FBI) Special Agent in Charge Robert K. Tripp.

    The case is being handled by the Corporate and Securities Fraud Section of the U.S. Attorney’s Office for the Northern District of California.  Assistant U.S. Attorneys Noah Stern and Ilham Hosseini are prosecuting the case with the assistance of Mark DiCenzo. The prosecution is the result of an investigation by the FBI.  The U.S. Attorney’s Office and the FBI thank the San Francisco Regional Office of the Securities and Exchange Commission, which announced today a parallel civil enforcement action against Nadimpalli in the Northern District of California.
     

    MIL Security OSI –

  • MIL-OSI Global: Fan reviews and parodies of Amazon’s The Rings of Power show that ownership is not just determined by contracts

    Source: The Conversation – UK – By Lincoln Geraghty, Professor of Media Cultures, University of Portsmouth

    The fan reaction to season one of The Rings of Power in 2022 was, to put it mildly, very mixed. Following the 2017 announcement that Amazon had bought the rights to adapt some of J.R.R Tolkien’s lesser-known work, many fans were cautious in their celebration.

    I research fandoms, so I am particularly drawn to the levels of critical analysis and humour fans employ in their review videos and parodies of The Rings of Power. They highlight that while multi-billion-dollar corporations may have the financial clout to own valuable IP and some of the biggest entertainment franchises, ownership is not just determined by contracts.

    Peter Jackson’s The Lord of the Rings trilogy (2001-2003) stands as testament to the director’s passion for Tolkien, Middle Earth and cinematic storytelling.

    With The Rings of Power, Amazon was clearly trying to capture some of that for the small screen. They hoped to use the franchise to compete with other streaming platforms such as Netflix and Disney+, as well as copy HBO’s success with series like Game of Thrones. Epic fantasy television offered Amazon the potential for new subscribers, awards and priceless word-of-mouth marketing.

    However, that is not quite what happened. Early promotion for season one was scarce, the teaser trailer was ratioed (meaning it had thousands more dislikes than likes) and a campaign to use social media influencers and vloggers as promoters backfired.

    The trailer for season two of The Rings of Power.

    When marketing backfires

    Amazon flew a number of social media influencers and vloggers to Mallorca in Spain to watch the first teaser trailer, and then filmed their praise and reactions to be shared on their channels and Amazon’s own social media.

    But fans quickly spotted that a number of the influencers and vloggers had never made Lord of the Rings content before and most of the reactions were scripted, depending on language and nationality of the vloggers. When these promos started to be ratioed on YouTube, Amazon took them down.

    Now with season two upon us, the lack of faith in Amazon’s adaptation has not only continued – it has noticeably grown. Some content creators have reacted negatively to the company’s and showrunners’ attempts at turning the very small amount of the story and lore, to which they have rights, into many hours worth of television.

    Yet, it is how the fans respond which is often more intriguing and revealing than what they are responding to. The overall tone and argument that fans share about the series is that it lacks faithfulness to Tolkien’s world and tries to adapt and copy Jackson’s version of Middle Earth, rather than create something appealing in its own right.

    This is best highlighted in recent videos produced by well-known and controversial Lord Of The Rings fan, Nerdrotic, who outlines in enormous detail how season two has gone further in trying to sound and look like Jackson’s movies.

    Nerdrotic’s criticism of The Rings of Power.

    The use of clips, dialogue, sound effects and references to press sources raises such content to almost academic level of critique. His cultural capital and knowledge of the story and lore is clearly displayed, and used to both raise the source material up while he puts the Amazon adaptation down.

    This is typical of fans who feel their beloved text is under attack – they come to its defence by building a case for its original quality and value.

    Fan parodies

    The use of parody and humour to pour scorn on the series is also a common practice among fans. New digital technologies like artificial intelligence (AI) allow fans to create a sense of realism that again demonstrates their knowledge and love of the original works.

    Charlie Hopkinson’s Gandalf Reviews deepfake sketches have found an audience that both knows the lore but is also familiar with and enjoys the format of reaction videos made popular on YouTube. Setting Gandalf in a sitcom where he chats with other characters while watching Lord of the Rings may seem glaringly unfaithful to the material, but it uses displacement of those same characters to highlight the importance and value of the original story and movies.

    One of the Gandalf deep fake videos.

    Fans develop a strong sense of ownership over their favourite media or books. They have taken fantasy, science fiction, comic book and horror franchises to their heart and put time, money and energy into getting to know them in every detail.

    Because of the level of financial and personal investment, they feel they “own” the text and have helped make it popular in the first place. Therefore, they would argue they have every right to feel threatened, angry or frustrated at what they perceive as harm being done to it and so, by extension, them.

    Streaming platforms such as Amazon have tried to stay ahead in an increasingly competitive market by mining well-known IP to lure in fans and non-subscribers alike. However, as The Rings of Power has shown, attempts at courting fans can come at a cost which may never be recouped.

    The relationship between fans and entertainment corporations is as fraught as ever. Amazon needs Tolkien fans, but at the same time doesn’t seem to recognise the fact that the fans may not need them – or another adaption – to keep them entertained. They can do that for themselves.


    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

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

    – ref. Fan reviews and parodies of Amazon’s The Rings of Power show that ownership is not just determined by contracts – https://theconversation.com/fan-reviews-and-parodies-of-amazons-the-rings-of-power-show-that-ownership-is-not-just-determined-by-contracts-238704

    MIL OSI – Global Reports –

  • MIL-OSI USA: Congresswoman Lee Statement on FTC Action Against Second Largest Owner of Clark County Single-Family Rental Homes

    Source: United States House of Representatives – Congresswoman Susie Lee (NV-03)

    WASHINGTON – Today, Congresswoman Susie Lee (NV-03) released the following statement after the Federal Trade Commission (FTC) made an announcement that it was taking action against Invitation Homes — the second largest owner of single-family rental homes in Clark County — for deceiving and taking financial advantage of renters: 

    “Invitation Homes owns about 3,500 homes in Clark County. That’s 3,500 families in southern Nevada who have been mistreated in the name of corporate greed. I applaud the FTC for cracking down on the corporate landlords who take advantage of working families. 

    “This is exactly why Congress must pass the HOME Act to go after more of these Big Corporate Landlords so we can lower costs and protect our families, seniors, and veterans from predatory practices.” 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Touting New Legislation That Would Help Prevent State Takeover of Hartsfield-Jackson Airport, Senator Reverend Warnock Joins Atlanta Airport Minority Advisory Council to Honor Mayor Jackson’s Legacy

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Touting New Legislation That Would Help Prevent State Takeover of Hartsfield-Jackson Airport, Senator Reverend Warnock Joins Atlanta Airport Minority Advisory Council to Honor Mayor Jackson’s Legacy

    Senator Reverend Warnock gave remarks to over 150 Atlanta airport business owners, officials, engineering and construction companies, and other aviation professionals
    Earlier this year, Senator Reverend Warnock successfully secured a provision in the 2024 Federal Aviation Administration (FAA) reauthorization bill to protect local control of Atlanta’s Hartsfield-Jackson International Airport (ATL)
    ATL is the busiest airport in the world and an economic engine for the City of Atlanta with over 60,000 jobs and an annual $66 billion economic impact 
    ICYMI from the AJC: Provision to prevent state takeover of ATL airport included in federal FAA law
    Senator Reverend Warnock: “I was proud to champion the recent FAA reauthorization bill that was signed into law that includes my provision to help block a state takeover of the Atlanta airport. We were able to increase protections for millions of revenue dollars flowing from the Hartsfield-Jackson Airport and help ensure minority-owned small businesses get their fair share”

    Above: Senator Warnock with leaders and members of the Atlanta Airport Minority Advisory Council (Atlanta AMAC)
    Atlanta, GA – U.S. Senator Reverend Raphael Warnock (D-GA), a member of the Senate Commerce committee charged with overseeing the nation’s aviation policies, uplifted provisions to strengthen Georgia’s aviation economy that he secured in the recent FAA reauthorization law during remarks to the Atlanta Airport Minority Advisory Council (Atlanta AMAC). The Atlanta AMAC meeting was hosted at Atlanta City Hall in part to celebrate 50 years since Maynard Jackson became the city’s first Black mayor; Mayor Jackson was a champion for the Atlanta airport and worked to increase the diversity of people and businesses receiving jobs and contracts borne from the airport’s burgeoning economic prosperity for the metro region. 
    The Senator gave remarks to over 150 Atlanta airport business owners, officials, engineering and construction companies, and other aviation professionals. Senator Warnock was introduced by businesswoman and AMAC member Alivia Ivey; Ms. Ivey bestowed to Senator Warnock a Bible from 1830 as part of a special recognition of his leadership on behalf of Georgia’s aviation communities.
    “I was proud to champion the recent FAA reauthorization bill that was signed into law that includes my provision to help block a state takeover of the Atlanta airport. We were able to increase protections for millions of revenue dollars flowing from the Hartsfield-Jackson Airport and help ensure minority-owned small businesses get their fair share. Not asking for anything extra; just their fair share,” said Senator Warnock in remarks to Atlanta AMAC. “Hartsfield-Jackson is the busiest airport in the world, connecting tens of millions of travelers to our incredible history, culture and businesses that make up our city. And as the region’s premier economic generator with over 60,000 jobs and an annual $66 billion economic impact, it is only right that Atlanta continues to control this gateway to the city.”

    Above: Senator Warnock with Atlanta AMAC’s Alicia Ivey
    This spring, the U.S. Congress passed and the President signed into law the bipartisan 2024 Federal Aviation Administration (FAA) reauthorization bill that will help protect local control of Atlanta’s Hartsfield-Jackson International Airport (ATL). Senator Warnock’s provision provides additional protections and clarity in the event that the state legislature attempts to wrestle control of ATL away from the City of Atlanta, as it often threatens. 
    The provision passed as part of the 2024 FAA reauthorization bill, which included provisions championed by Senator Warnock that will transform the aviation industry—including strengthening aviation workforce development provisions that will address the current shortage of pilots, mechanics, and manufacturers, and investing in consumer protections and safety for Georgians. Additionally, Senator Warnock secured critical investments for airport improvement projects in Georgia in the bill, which will bring millions of federal dollars to the state over the next five years; these grants will help construct and upgrade aviation infrastructure at the state’s airports—including terminal space, runways, security, and more. 

    Above: Senator Warnock at the Atlanta AMAC event at Atlanta City Hall
    A transcript of Senator Warnock’s remarks to the Atlanta AMAC can be found below: 
    “It’s wonderful to be here at City Hall. Thank you so very much, Alicia Ivey, for that very kind and generous introduction. It’s great to be here with the Atlanta Airport Minority Advisory Council. And I’m gonna ask for forgiveness right off the bat because I’m on my way to the airport–going to Washington, D.C. to do the work you hired me to do.
    “Shoutout to Eboni Wimbush and Ricky Smith. Thank you for everything that you do, and thanks to everybody who is here this afternoon. It is a busy time in Washington; we’re trying to fund the government and avoid a shutdown. […] Only in Washington, D.C. does that even make sense. You all are business people–what business person brags about shutting their business down.
    “It doesn’t make any sense. And for those who do it in the name of fiscal responsibility, the truth is it costs more to shut the government down. It costs the government money and certainly it costs families and communities an untold amount. So it’s important for me to get on that plane and get up to D.C. I hope you will forgive me. 
    “But it was also important to me to be here to celebrate the great legacy of Maynard Jackson, while I am on my way to Hartsfield-Jackson Airport, and to reassure you of my understanding of how important it is that we build on his legacy, not for the sake of his, not for the sake of history but for the sake of the future. For the sake of all of our children, we celebrate 50 years since Maynard Jackson became Atlanta’s first Black mayor. 
    “He threatened at one point to run for the Senate–put his toe in the water, so he’s been paving the way a long time. You know, if you stick with this airport analogy, if you go to the airport and you take off without a problem, you ought to offer some gratitude to the folk who paved the runway. 
    “Maynard held a litany of accomplishments: one that continues to stand out is his commitment to seeing the Atlanta airport and local aviation economy soar. He saw a vision for what the airport could mean to Georgia and the region. And today we know its connectivity makes the metro area a hub for economic prosperity; I’m glad to live in the city with the world’s busiest and most efficient airport.
    “Mayor Jackson also knew that the bottom line alone was not telling the whole story. What was also important was knowing which communities are reaping the benefits of this prosperity. And so what should not be lost on us or forgotten is that, prior to Maynard, white contractors– almost all men–historically received 99% of the work on airport projects before Maynard Jackson created a plan to ensure a quarter of that went to women and minority-owned firms.
    “And so that’s the legacy that we push against when we talk about diversity. He understood that we’re not great in spite of our diversity, we’re great because of our diversity. So he encouraged collaboration between white and Black owned companies, boosting minority participation and airport contracts. He knew that when we center the people we have a chance of getting the policy right.
    “And today as the only national nonprofit trade association dedicated to advancing employment and contracting minorities throughout the aviation industry, AMAC has been in the forefront of creating an opportunity economy for all, carrying on Maynard’s torch. 
    “And so this work requires all of us to play our part. When I was elected to the Senate, when the people of Georgia gave me this incredible honor–and I mean that, it is an honor for the people of your state to say that since all of us can’t go to Washington, we’re gonna send you and we’re gonna trust that in the halls of power where decisions are made and deals are cut, you’re not gonna be thinking about yourself, you are gonna be thinking about the folks that sent you–I lobbied to get on the Commerce committee and I’m glad that I did.
    “I was proud to champion the recent FAA reauthorization bill that was signed into law that includes my provision to help block a state takeover of the Atlanta airport. We were able to increase protections for millions of revenue dollars flowing from the Hartsfield-Jackson Airport and help ensure minority-owned small businesses get their fair share. Not asking for anything extra; just their fair share. 
    “Hartsfield-Jackson is the busiest airport in the world, connecting tens of millions of travelers to our incredible history, culture and businesses that make up our city. And as the region’s premier economic generator with over 60,000 jobs and an annual $66 billion economic impact, it is only right that Atlanta continues to control this gateway to the city.
    “And so thank you for sending me to Washington. Thank you for the honor of serving you every day. I still do wake up and pinch myself some days. I can’t believe I get to do this work. Who gets to be a U.S. Senator? Fighting on behalf of your state?
    “And because I serve on the Commerce committee, gone are the days of cynical state politicians easily threatening to seize control of Hartsfield-Jackson away from the A-T-L.
    “As a senator for all Georgians, I’m also glad that we secured critical investments in that law for airport improvement projects all across our state. These projects will bring millions more federal dollars to Georgia’s aviation economy.
    “This funding will help construct and upgrade infrastructure at the state’s airports, improving and modernizing terminals, runways, security operations, and more. Strengthening our aviation industry doesn’t stop at investing in physical infrastructure; we must also invest in the workforce. We need a diverse, robust, skilled workforce that will help take the industry to new heights.
    “Now, I wouldn’t be a preacher if I didn’t tell you a story–but a true story. Last year, I was at the Peachtree-DeKalb Airport and I met a young man named Ezekiel. He was inspiring. He had that light in his eye that you see when a young person has discovered their passion. Howard Thurman, a great Morehouse man, like Maynard Jackson was a Morehouse man. I gotta say that. Howard Thurman said, “Ask now what the world needs, ask what makes you come alive and go and do that, because what the world needs is people who come alive.”
    “This young man that I met, named Ezekiel, he had that light in his eye and he had come alive. He wanted to be a pilot. But when I met him, he had spent thousands of dollars of his own money working every single job he could find to earn money for the flight hours he needed in order to become a pilot.
    “And so he has the aptitude and the passion, but the barrier is so high. I believe that this is a challenge, not only for him, but it’s a challenge for all of us. Because if we’re going to strengthen our aviation economy, we need all the talent from everywhere we can get it.
    “And I know that our God inspires leadership and talent and brilliance all over–talent on both sides of the tracks. A child’s outcome ought not be based on their parents’ income. We need the brilliance of all of our young people.
    “So I’m proud that in the FAA reauthorization law we also included my provision that would expand federal grant funding for aviation programs in colleges and high schools, including scholarships or apprenticeships to recruit and train the future pilots, aircraft mechanics and the manufacturing professionals the industry needs.
    “We are also funding programs for outreach about aviation careers for students starting as early as elementary school and for underrepresented communities in aviation. These efforts are addressing the workforce shortage head on, and this is how we create the change that we need.
    “So Atlanta AMAC, thank you so very much. Good to drop by and see you and honor Maynard Jackson’s enduring vision and legacy. Know that I will continue to do the work on behalf of all of our children. God bless all of you. Keep the faith.”

    MIL OSI USA News –

  • MIL-OSI United Nations: Secretary-General’s message to the Ministerial Meeting: “Building on Progress to Restore Security in Haiti”

    Source: United Nations secretary general

    I am pleased to send my greetings to this high-level event to spur progress on security in Haiti.

    The crisis in Haiti is a protracted human tragedy with a long and well-known history.  It is one of the most disastrous humanitarian situations in the world.  The international community has a responsibility to step up to support the Haitian people in their efforts to restore stability.

    Recently, we have seen some progress in putting transitional governance structures in place – a vital step on the way to inclusive democracy and the rule of law.  But the Haitian people are still subjected to egregious human rights abuses by gangs. Young women and girls continue to suffer appalling levels of sexual violence and abuse.

    During the first half of this year, the United Nations documented 3,638 homicides — an increase of nearly 74 percent over 2023. 

    Despite the imposition of the arms embargo in October 2023, gangs and other non-State actors continue to procure arms and ammunition illicitly.

    The first deployments of the Multinational Security Support mission – the MSS – are a positive step.

    I commend Kenya for its leadership as well as those countries that have pledged to contribute with personnel, equipment, and necessary logistical resources.

    I also commend countries that have contributed to the Trust Fund for the mission, set up by the Secretary-General in accordance with the request of the Security Council. The fund now stands at $85.3 million.

    However, funding for the mission, and for the Haitian National Police, remains totally inadequate.  I urge all those who have made financial commitments to deliver on them urgently.

     We must keep working to mobilize sufficient resources for the mission, and for the humanitarian response in Haiti.

    Close to 703,000 people have been displaced and more than 5 million Haitians are food insecure – almost half of the population.

    There is an urgent need for resources to support humanitarian efforts. The Humanitarian Needs Response Plan for Haiti, totaling $674 million, is currently only 39 per cent funded.  

    Excellencies,

    A durable solution to the current crisis can only come from a political process that restores democratic institutions through elections.

    Improving security is crucial to creating the conditions necessary for these elections.

    The UN will not waver in its commitment to Haiti. We continue to support the transition process, in line with the mandate of our current mission, BINUH – the UN Integrated Office in Haiti.

    I also welcome CARICOM’s support to the Haitian-led efforts and its cooperation with BINUH.

    Like people everywhere, Haitians demand and deserve to live in dignity, free from the threat of violence.

    Thank you.
     

    MIL OSI United Nations News –

  • MIL-OSI Africa: Secretary-General’s message to the Ministerial Meeting: “Building on Progress to Restore Security in Haiti”

    Source: United Nations – English

    am pleased to send my greetings to this high-level event to spur progress on security in Haiti.

    The crisis in Haiti is a protracted human tragedy with a long and well-known history.  It is one of the most disastrous humanitarian situations in the world.  The international community has a responsibility to step up to support the Haitian people in their efforts to restore stability.

    Recently, we have seen some progress in putting transitional governance structures in place – a vital step on the way to inclusive democracy and the rule of law.  But the Haitian people are still subjected to egregious human rights abuses by gangs. Young women and girls continue to suffer appalling levels of sexual violence and abuse.

    During the first half of this year, the United Nations documented 3,638 homicides — an increase of nearly 74 percent over 2023. 

    Despite the imposition of the arms embargo in October 2023, gangs and other non-State actors continue to procure arms and ammunition illicitly.

    The first deployments of the Multinational Security Support mission – the MSS – are a positive step.

    I commend Kenya for its leadership as well as those countries that have pledged to contribute with personnel, equipment, and necessary logistical resources.

    I also commend countries that have contributed to the Trust Fund for the mission, set up by the Secretary-General in accordance with the request of the Security Council. The fund now stands at $85.3 million.

    However, funding for the mission, and for the Haitian National Police, remains totally inadequate.  I urge all those who have made financial commitments to deliver on them urgently.

     We must keep working to mobilize sufficient resources for the mission, and for the humanitarian response in Haiti.

    Close to 703,000 people have been displaced and more than 5 million Haitians are food insecure – almost half of the population.

    There is an urgent need for resources to support humanitarian efforts. The Humanitarian Needs Response Plan for Haiti, totaling $674 million, is currently only 39 per cent funded.  

    Excellencies,

    A durable solution to the current crisis can only come from a political process that restores democratic institutions through elections.

    Improving security is crucial to creating the conditions necessary for these elections.

    The UN will not waver in its commitment to Haiti. We continue to support the transition process, in line with the mandate of our current mission, BINUH – the UN Integrated Office in Haiti.

    I also welcome CARICOM’s support to the Haitian-led efforts and its cooperation with BINUH.

    Like people everywhere, Haitians demand and deserve to live in dignity, free from the threat of violence.

    Thank you.
     

    MIL OSI Africa –

  • MIL-OSI USA: Senators Collins, King Celebrate National Lobster Day

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. — U.S. Senators Susan Collins and Angus King today are celebrating Maine’s world renowned lobster industry after the Senate unanimously passed their bipartisan resolution recognizing September 25, 2024 as “National Lobster Day.” The resolution recognizes the cultural, economic and environmental impacts and importance of the iconic crustacean. Since 2015, the senators have introduced and sponsored legislation in recognition of National Lobster Day.
    “There are hundreds of small businesses along our Maine’s coastline that comprise our lobster industry, and their iconic catch is synonymous with Maine’s identity, history and culture,” said Senators Collins and King. “For centuries, the men and women who power the fishery wake up early every day proud to carry on this Maine tradition and ensure the long-term sustainability, resiliency and health of our Atlantic waters. Today, we recognize those lobstermen and women, and communities across Maine, who contribute hundreds of millions to our state and incalculable pride to our people.”
    “Lobster is an integral part of Maine’s identity, playing a crucial role in the livelihood of our coastal and island communities,” said Marianne LaCroix, Executive Director of the Maine Lobster Marketing Collaborative. “National Lobster Day not only allows us to share our, sustainably sourced product with the nation but also to highlight its significant impact on Maine’s economy. We greatly appreciate Senator Collins’ and King’s continued support in recognizing this important holiday.”
    Lobster is a top economic driver for the state of Maine and, in 2023, the industry brought in $611,000,000. Senators Collins and King have been vocal champions for the lobster industry in the U.S. Senate by pushing back against policies that could hinder future growth and successes. In 2022, Senators Collins and King secured a provision in the annual appropriations spending bill which included a regulatory reprieve to protect Maine’s sustainable lobster industry from misguided regulations that would have been devastating for the industry.
    Read the full resolution here.

    MIL OSI USA News –

  • MIL-OSI Global: Oilsands workers are resistant to sustainable jobs, new research finds

    Source: The Conversation – Canada – By Parker Muzzerall, PhD Candidate, Department of Sociology, University of British Columbia

    Like it or not, the energy transition is happening.

    The International Energy Agency predicts global fossil fuel production will reach its peak by 2030. Governments around the world — including Canada’s — are racing to implement policies aimed at achieving a net-zero energy economy by 2050.

    To reach that target, Canada has a lot of work to do.

    In 2022 alone, Canada emitted 708 megatonnes of CO2-eq (carbon dioxide equivalent, which measures the global warming potential of different greenhouse gases). On the production side, oil and gas extraction accounted for 3.5 per cent of Canada’s GDP and the oil and gas industry directly employed around 150,000 Canadians.

    While oil and gas production isn’t going to stop tomorrow, or even by the end of this decade, Canada must put policies in place today to ensure that those most dependant on the oil and gas industry are supported as the country — and the world — moves away from fossil fuels.

    Sustainable jobs

    In June 2024, the Canadian government took an important first step at doing so by giving royal assent to the Sustainable Jobs Act. Over the next few years, the act is intended to create a suite of policy programs aimed at ensuring all Canadians have equal opportunity and access to decent, well-paying jobs in a net-zero future.

    While the Sustainable Jobs Act is primarily intended to support oil and gas workers, my recent study published in the journal Environmental Sociology identifies one important problem: oil and gas workers like the jobs they already have.

    Since the 2015 Paris Agreement, the phrase “just transition” has become common shorthand in policymaker, academic and activist circles to describe policies like the Sustainable Jobs Act that explicitly seek to support vulnerable citizens through the renewable energy transition.

    In fact, the Sustainable Jobs Act was originally referred to as the Canadian Just Transition plan before the name was changed after the idea of a “just transition” became the target of fierce opposition from Alberta Premier Danielle Smith.

    Talking to oilsands workers

    Smith’s opposition to the term “just transition,” and also to the eventual Sustainable Jobs Act, is rooted in a fundamental belief that the Canadian oil and gas industry is not going anywhere and that the federal government should not interfere in the lives of hard-working Albertans.

    These beliefs, and the emotions underlying them, made appearances in my interviews with oilsands workers, too.

    Through 18 interviews with a diverse cross-section of oilsands employees — ranging from accounts managers to process operators — it was obvious that these hard-working people also remain optimistic about the long-term economic viability and need for the oilsands industry.

    More importantly, they are also strongly opposed to the idea of a just transition because, as one participant put it, “it’s almost like an incentive to leave oil and gas behind.”

    Beneath this concern, the participants also expressed a belief and a sense of frustration that the federal government and Canadians in other parts of the country do not care about them and their feelings of being excluded from Canada’s vision for the future. These feelings were underscored by a strong sense of regional pride in the Fort McMurray community and its oilsands industry.

    While climate advocates may shake their heads — or fists — at these findings, the feelings of my participants make perfect sense when you consider that, for these workers, the energy transition represents not just a threat to their livelihood but a threat to their community and way of life.

    As multiple participants made clear, without the oilsands, Fort McMurray would become a “ghost town.”

    Localizing transition policies

    So, what should policymakers and climate advocates committed to an equitable energy transition do with the knowledge that the workers for whom sustainable jobs are intended are not, in fact, all that interested in sustainable jobs?

    The answer lies, at least in part, in reframing how we think about transition policies.

    Large, national-level efforts like the Sustainable Jobs Act are effective at setting high-level policy priorities. But without specific plans to account for the vast geographic diversity in the Canadian energy economy, policy packages like this can also drive regional animosity by making some communities feel like decarbonization “sacrifice zones.”

    Instead, we need to embed transition planning within a place-based approach to regional and community development. This means creating pathways for all communities to thrive in a low-carbon future. This is particularly true for single-resource and rural communities with economies that are often highly reliant on fossil fuels and tend to be located farther away from green jobs.

    It’s easy for these regions to feel excluded from Canada’s vision for a net-zero future. And that’s not fair. No community should be decarbonized into a ghost town.

    Passing the Sustainable Jobs Act was an important first step. Creating sustainable jobs that are regionally accessible, locally meaningful and economically desirable is the next big hurdle.

    Parker Muzzerall receives funding from The Social Sciences and Humanities Research Council of Canada.

    – ref. Oilsands workers are resistant to sustainable jobs, new research finds – https://theconversation.com/oilsands-workers-are-resistant-to-sustainable-jobs-new-research-finds-239057

    MIL OSI – Global Reports –

  • MIL-OSI USA: Raising the Full Retirement Age for Social Security

    Source: US Congressional Budget Office

    Congressman Brendan Boyle asked the Congressional Budget Office to provide information about the effects that increasing—from 67 to 69—the age at which workers become eligible for full retirement benefits from Social Security would have on workers’ benefits and on the program’s finances. Specifically, he asked how such an increase in the full retirement age (FRA) would affect people’s benefits differently depending on the decade in which they were born, their earnings, and their sex.

    All people affected by such an increase in the FRA would receive a smaller amount of Social Security benefits over their lifetime. Workers who chose to delay claiming their retirement benefits by the same number of months as the increase in the FRA would receive the same monthly benefit for a shorter period. Those workers who claimed retirement benefits at the same age as they would have claimed them under current law would receive a smaller benefit for the same number of years. The reduction in Social Security benefits would improve the program’s finances. Those projections reflect the assumption that Social Security will continue to pay benefits as scheduled under current law, regardless of the status of the program’s trust funds.

    MIL OSI USA News –

  • MIL-OSI: American National Urges Claims Preparedness for Tropical Storm Helene

    Source: GlobeNewswire (MIL-OSI)

    SPRINGFIELD, Mo., Sept. 25, 2024 (GLOBE NEWSWIRE) — Helene is forecast to rapidly intensify and accelerate while it moves northward across the eastern Gulf of Mexico and approaches the Florida Gulf coast. The storm is expected to intensify and grow significantly reaching major hurricane intensity as it approaches the Florida coast and impacting the southeast region. American National strongly encourages its policyholders to prepare for their insurance needs. We hope you will find the following informational resources helpful while preparing for this storm. Please be advised to follow the orders of local authorities.

    If you are an American National policyholder:

    There are several ways to report a claim (to ensure efficient claims service, check that your login credentials are up to date):

    1. Mobile: Use the AN Mobile app, available for free at the Apple App store or Google Play. An account is required.
    2. Online: Claims (AmericanNational.com) and login to your account to file claim. To create an account, go to AmericanNational.com > Customer Login > Personal Insurance – Log In > Register.
    3. If reporting on behalf of the insured and do not have a login: Claims (AmericanNational.com) and click the “Start Claim Online” link.
    4. Phone: Call the 24-hour claims hotline at (800) 333-2860.

    Stay alert, stay safe:

    Refer to the National Hurricane Center at http://www.nhc.noaa.gov for hurricane preparedness, weather tracking and additional updates.

    Check your local area forecast and follow instructions from local authorities to protect yourself, your family, and your property. Be sure to secure your home and property, follow your disaster plan and heed all storm warnings.

    APCIA urges the following actions to prepare for a tropical storm or hurricane:

    1. Gather copies of your insurance policies. Keep copies of your insurance policies (home, flood and auto) in a safe, dry, and accessible location or have your policy numbers available.
    2. Save your insurer’s contact info. Save your insurer’s toll-free claims number to your cell phone’s contacts. APCIA has a list of insurer’s toll-free numbers here. APCIA American Property Casualty Insurance Association | APCIA
    3. Make a home or business inventory. Use your smartphone to take photos or videos of your belongings, including furniture, appliances, clothes, lawn equipment, jewelry, and art. Save your inventory to a place where you can easily retrieve it. You can also check if your insurer has an app to help with creating a home inventory.

    For more information on how to prepare, visit https://www.weather.gov/safety/hurricane-plan.

    ABOUT AMERICAN NATIONAL

    American National is a group of companies writing a broad array of insurance products and services and operating in all 50 states. American National Insurance Company was founded in 1905 and is headquartered in Galveston, Texas. Life insurance, annuities, credit insurance, pension products, and other products and services are written through multiple companies. Property and casualty insurance is written through American National Property And Casualty Company, Springfield, Missouri, and affiliates. In New York, business is written through Farm Family Casualty Insurance Company, United Farm Family Insurance Company, and American National Life Insurance Company of New York, Glenmont, New York. Not all products and services are available in all states. Not all companies are licensed in all states. Each company has financial responsibility for only the products and services it issues. For more information, please visit AmericanNational.com

    Contact:
     Becky Hudzik-Presson
    SVP, Chief Claims Officer, P&C Claims Executive
    Becky.Hudzik-Presson@AmericanNational.com

    The MIL Network –

  • MIL-OSI USA: Casten, Blumenauer Introduce Bill to Help Communities Facing Flood Damage

    Source: United States House of Representatives – Representative Sean Casten (IL-06)

    September 25, 2024

    Washington DC — Today, Congressman Sean Casten (IL-06) and Congressman Earl Blumenauer (OR-03) introduced the Protecting Families and the Solvency of the National Flood Insurance Program Act of 2024, which would authorize the Federal Emergency Management Agency (FEMA) to provide additional mitigation assistance to families affected by flooding and address the problems of delays in buyouts for communities facing repetitive losses.

    “Having spent my entire adult life fighting climate change, I am alarmed by the increased frequency and severity of flooding—devastating not only the coasts, but communities right here in the Midwest,” said Rep. Sean Casten. “In Illinois alone, there are over 400,000 homes and over 30,000 business properties with operational flooding risk. The science is crystal clear that this climate-driven devastation will only get worse and more costly, yet the National Flood Insurance Program remains woefully unprepared to meet the needs of communities hit hardest. After meeting with dozens of local mayors, municipal leaders, and first responders, I’m proud to introduce legislation to improve the buy-out program to help families facing climate-driven flood damage get the financial relief and help with voluntary relocation they need faster.”

    “Nowhere is the cost of failure more pronounced than the National Flood Insurance Program. We cannot afford to keep risking lives and taxpayer dollars by rebuilding structures in the same flood-prone areas as the climate crisis makes disasters more frequent and intense. With simple, preventative steps like my legislation with Congressman Casten, we can help disaster victims break the cycle of repetitive flood loss,” said Congressman Earl Blumenauer.

    FEMA provides funding for communities to purchase flood-prone properties and convert the land to open space. This property acquisition can be a beneficial strategy for flood mitigation. However, the buyout process poses challenges that can discourage homeowner and community participation. Currently, buyouts through the National Flood Insurance Program can take more than five years to complete through FEMA, far too long for families living in damaged and potentially hazardous houses. The bill would cut through the red tape to deliver buy-outs quicker to victims of flooding, especially in underserved communities. This bill will make buyouts more accessible, equitable, and efficient. In 2022, the Government Accountability Office conducted a study of FEMA’s buyout program and issued recommendations. One of the recommendations was to preapprove certain properties for acquisition, which is exactly what this bill does.

    Annual flooding in the U.S. costs up to $496 billion and will increase as a result of climate change, the cost of which will be borne disproportionately by disadvantaged communities. This increased frequency and severity of flooding will come not only from the coast, but from increased rainfall and riverine flooding across the country. 

    In Illinois, there are 413,129 residential properties, 50,977 miles of roads, 36,816 commercial properties, 996 infrastructure facilities, and 2,476 social facilities with operational flood risk* today.

    The Protecting Families and the Solvency of the National Flood Insurance Program Act of 2024:

    • Addresses the problem of delays in buyouts by authorizing buyouts-in-lieu-of-claim-payments in high-priority cases.
      • If the property has been identified as a repetitive loss or severe repetitive loss property
      • Has been designated by the participating community as substantially damaged.
      • Would otherwise be filing a claim for the maximum level of coverage.
      • Right now, a buyout looks at an effective floodplain.
    • Allows for additional assistance to residents who may wish to move but are unable to afford relocation by requiring FEMA to apply the special assistance provisions of the Uniform Relocation Act to buyouts.
    • Provides FEMA with authorities to provide an additional measure of mitigation assistance to currently underserved communities, in line with provisions in the Infrastructure and Jobs Act that make this allowance for the next 5 years and expands the current narrow definition of “small and impoverished” communities.
    • Incentivizes community action to address repeat flooding by offering access to and potentially a larger share of mitigation assistance funding for implementation of locally developed flood plans. 
    • Assures that FEMA assistance to address recurrent flooding, including buyout offers, is not limited to neighborhoods that have previously been mapped into FEMA-designated Special Flood Hazard Areas.

    Text of the legislation can be found here.

    The legislation has been endorsed by the Natural Resources Defense Council.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Manchin, Romney, Warner, Braun Introduce Bipartisan Resilience Act

    US Senate News:

    Source: United States Senator for West Virginia Joe Manchin
    September 25, 2024
    Washington, DC – Today, U.S. Senators Joe Manchin (I-WV), Mitt Romney (R-UT), Mark Warner (D-VA) and Mike Braun (R-IN) introduced the Reassuring Economic Stability In Light of International, Economic, and Natural Conflicts and Emergencies (RESILIENCE) Act. The bipartisan legislation would require the U.S. Treasury Secretary and the Director of the Office of Management and Budget (OMB) to conduct annual examinations on the federal government’s ability to respond to hypothetical domestic and international fiscal shocks.
    “This past July, our national debt exceeded $35 trillion for the first time in history. Make no mistake – this is the greatest threat America is facing,” Senator Manchin said. “I’m proud to introduce the RESILIENCE Act with my bipartisan colleagues to establish these critical, comprehensive annual examinations of our nation’s finances, which will better inform Congress and the American public on the most effective solutions for getting our fiscal house back in order. Every West Virginian and American is personally responsible for managing the debts they incur and the federal government must be held to the same standard for the sake of our children, grandchildren and the American Dream.”
    “With the national debt at a staggering $35 trillion, our country is on the fast track to fiscal calamity,” said Senator Romney. “It’s not outside of the realm of possibility that a national or global event—such as a recession, armed conflict, or domestic energy crisis—would expedite that process and leave American families, businesses, and our country in economic peril. Better understanding the federal government’s abilities to respond to major, unanticipated economic events will equip us with needed insight to help proactively strengthen the United States’ resilience to potential fiscal shocks.”
    “This common-sense legislation requires the federal government to conduct annual tests to ensure that our finances can withstand potentially catastrophic global events,” Senator Warner said. “It is our responsibility to ensure that we are not caught on our heels when responding to the next crisis, and this legislation would do just that.”
    “Our nation’s fiscal health is in dire straits and the enormous national debt is the number one threat to our national security. The RESILIENCE Act would establish a thorough examination of our federal government’s finances, so we can reestablish fiscal discipline and make sure we are prepared for any domestic or international crisis,” said Senator Braun.
    Specifically, this annual examination would assess the ability of the federal government to respond to the following events:
    An economic recession or depression;
    A domestic energy crisis;
    A catastrophic natural disaster;
    A health crisis, such as a pandemic;
    A significant armed conflict or event;
    A significant cyberattack; and
    A financial crisis.
    As it does already with the annual Financial Report of the United States Government, the Government Accountability Office (GAO) would conduct an independent review of the examination and relay its findings to Congress and the American public.
    The full text of the RESILIENCE Act is available here.

    MIL OSI USA News –

  • MIL-OSI USA: Supporting Nonprofit Arts and Cultural Organizations

    Source: US State of New York

    September 25, 2024

    Albany, NY

    Governor Kathy Hochul today announced up to $80 million in capital funding is now available to nonprofit arts and cultural organizations through the New York State Council on the Arts Capital Projects Fund. Governor Hochul announced the new funding at the groundbreaking of the Hudson Valley Shakespeare expansion project, which includes a LEED certified theater and ecological land restoration. The expansion is supported by a $13.25 million investment from NYSCA, Empire State Development as recommended by the Mid Hudson Regional Economic Development Council and the New York State Office of Parks, Recreation and Historic Preservation.

    “Arts and cultural organizations like Hudson Valley Shakespeare are central to communities across New York State — boosting local economies and driving our vibrant tourism industry,” Governor Hochul said. “As we celebrate the groundbreaking for Hudson Valley Shakespeare’s expansion, we’re also making $80 million available to help even more organizations across the state have the opportunity to grow, thrive and inspire the next generation of New Yorkers.”

    [embedded content]

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    The $80 million funding opportunity builds on the $32 million in capital awards made by NYSCA earlier this year, including multi-year funding to facilitate large-scale capital projects that prioritize community development and placemaking.

    NYSCA’s Capital Projects Fund will support arts and cultural nonprofits seeking State funding for investments in capital improvements that allow organizations to sustain and expand cultural programming for diverse audiences, promote accessibility and environmental sustainability, preserve and create jobs, and ultimately contribute to the growth of New York’s dynamic arts and tourism sectors.

    The three opportunities are:

    Small and Midsized Capital Improvement Grants for Arts and Culture: This opportunity funds projects initiated by nonprofit arts and cultural organizations of any size, with grants of up to $2 million that prioritize accessibility, artistry, cultural development, sustainability, health and safety, and structural and historical improvements. No-match grants of $10,000-$25,000 and $50,000-$99,000 are available for organizations with operating budgets under $2 million. Strong projects combine excellence in design with informed decisions about organizational capacity and community needs that will positively affect the future of arts and cultural organizations across New York.

    Large Capital Improvement Grants for Arts and Culture: This opportunity will support arts and cultural nonprofits across the state that are undertaking impactful, large-scale capital improvements. Grants will range from $2 million to $10 million for projects that have a total cost of $4 million or more. This funding will support investments that allow organizations to thrive by expanding cultural programming, reaching new and diverse audiences, and promoting accessibility. These grants will also help advance the State’s goals around economic development, diversity, equity and inclusion, and will require all applicants to commit to social equity initiatives and access plans that serve all New Yorkers.

    Capital Design Grants for Arts and Culture: This new opportunity will support the development of mid-stage and advanced design documents for arts and cultural nonprofits with operating budgets of $10 million or less across the state that are planning eligible capital improvements and are currently in the early stages of design. Grants will range from $50,000-$500,000, for a maximum of 50 percent of the design phase’s total cost. No-match grants of $50,000 to $99,000 will also be available for organizations with budgets under $2 million.

    “Arts and cultural organizations like Hudson Valley Shakespeare are central to communities across New York State — boosting local economies and driving our vibrant tourism industry.”

    Governor Kathy Hochul

    The application portal and guidelines for these opportunities are now open, and can be accessed on NYSCA’s website, arts.ny.gov. The deadline to submit completed applications is January 14, 2025. All eligible New York State nonprofit arts and cultural organizations are encouraged to apply for NYSCA’s Capital Projects Fund. NYSCA will also conduct webinars about the application process and host multiple virtual office sessions for applicants to receive one-on-one assistance before the January 14, 2025, deadline. Prospective applicants that are interested in Large Capital support should consult with NYSCA Capital Projects staff to make sure their projects are aligned with program priorities before applying. Grant awards are expected to be announced in spring 2025.

    Governor Hochul made the announcement today while celebrating the groundbreaking for the Hudson Valley Shakespeare expansion, which is supported by a $13.25 million state investment from NYSCA, ESD, and OPRHP. This project was one of the first to receive $10 million through NYSCA’s Large Capital grant opportunity, which was first announced in 2022. With this support, Hudson Valley Shakespeare will transform their recently acquired 98+ acres into a year-round destination that will offer outstanding artistic programming, stunning scenery, outdoor recreation, and free community engagement activities, all in one place. Once complete, this new campus will attract visitors from the Hudson Valley and beyond and serve as a powerful economic driver for the entire region.

    Since the NYSCA Capital Projects Fund began in 2018, the agency has awarded 473 capital grants, totaling $216 million, across all 10 state regions through the support of the Governor and Legislature. In FY24, 69 percent of the awards went to organizations with budgets under $3 million.

    Governor Hochul continues to make record investments to grow New York’s national-leading arts and cultural sector. The FY 2025 Enacted Budget also includes over $80 million for NYSCA general operating support to non-profit organizations and individual artists. These grants will be awarded at the end of the calendar year.

    New York State Council on the Arts Executive Director Erika Mallin said, “These critical projects create pathways forward for our cultural facilities and galvanize their communities with economic and social benefits that far surpass their investment. Arts and culture projects exponentially improve their communities with powerful boosts to tourism, small businesses, personal prosperity and health. When we provide this kind of support, we are giving organizations the opportunity to dream big and to serve more and more New Yorkers and visitors alike.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Hudson Valley Shakespeare, one of New York State’s most popular regional venues, draws visitors from every corner of the country and is an important economic driver in the Mid-Hudson Region. ESD is proud to support the Hudson Valley Shakespeare expansion so that even more residents and visitors can experience live theater for many years to come.”

    Empire State Development Vice President and Executive Director of Tourism Ross D. Levi said, “The arts are a vital tourism generator for New York, and I LOVE NY continues to promote the state’s unparalleled cultural offerings. Under Governor Hochul, these investments will help improve and create new opportunities for guests to experience the arts for themselves and find out how easy it is to love New York.”

    State Senator Jose M. Serrano said, “This continued investment in our arts and cultural organizations recognizes how they power and support our economy, our educational systems and our communities. I am proud that New York State recognizes the critical importance of keeping arts and culture accessible and available.”

    Assemblymember Daniel O’Donnell said, “New York has long been the arts and culture capital of our nation. As our arts sector works to build modern and resilient infrastructure, these capital grants will help fortify organizations which have long been shining lights in their communities. These investments reaffirm our faith in the small businesses, workers, and artists that define our towns and cities, while also directly bolstering local economies. The future of our arts sector is bright.”

    Hudson Valley Shakespeare’s Artistic Director Davis McCallum said, “Receiving one of the Large Capital Grants in 2022 was critical to our breaking ground today on the country’s first purpose-built LEED Platinum theater, on a 98-acre eco-campus overlooking the Hudson River. We are deeply grateful to NYSCA for their early support for a transformational project that brings together the arts, environmental sustainability, and economic development. NYSCA’s support of arts and culture organizations like HVS is incredibly impactful not only in communities like ours in the Mid Hudson Valley, but across the entire New York State.”

    About the New York State Council on the Arts

    The mission of the New York State Council on the Arts is to foster and advance the full breadth of New York State’s arts, culture, and creativity for all. To support the ongoing recovery of the arts across New York State, the Council on the Arts will award $162 million in FY2025, serving organizations and artists across all 10 state regions. The Council on the Arts further advances New York’s creative culture by convening leaders in the field and providing organizational and professional development opportunities and informational resources. Created by Governor Nelson Rockefeller in 1960 and continued with the support of Governor Kathy Hochul and the New York State Legislature, the Council is an agency that is part of the Executive Branch. For more information on NYSCA, please visit arts.ny.gov, and follow NYSCA’s Facebook page, on X @NYSCArts and Instagram @NYSCouncilontheArts.

    MIL OSI USA News –

  • MIL-OSI USA: Casey Introduces Suite of Bills to Expand Access to Community College

    US Senate News:

    Source: United States Senator for Pennsylvania Bob Casey
    Casey’s bills would make community college programs more accessible and valuable for students
    Bills would spur investment in new and existing community college infrastructure in underserved areas, make it easier for college students to receive degrees when they have completed requirements
    Washington, D.C. – Today, U.S. Senator Bob Casey (D-PA) introduced a suite of bills to strengthen American community colleges and make their programs more accessible and valuable for students. Two of the bills would spur investment in new and existing community college infrastructure in underserved areas. The package also includes the Correctly Recognizing Educational Achievements to Empower (CREATE) Graduates Act, which would resolve an issue preventing some community college students from receiving degrees for which they have completed the requirements.
    “Community college programs help young Americans compete for jobs, earn higher wages, and build brighter futures,” said Senator Casey. “I introduced these bills to expand access to community college and ensure students can fully take advantage of the benefits these programs have to offer. I will always fight to make sure every young American has access to the education they need to reach their full potential.”
    More than two-thirds of jobs in the modern economy require some education and training beyond high school, but many Americans lack access to affordable, quality postsecondary education. Approximately 35 million people, or 10 percent of the country’s population, live in education deserts: areas with zero or only one public broad-access college nearby. The legislative package Casey introduced today would invest in new community college infrastructure in these areas, while also bolstering existing programs around the country.
    The Funding Community College Infrastructure Act would create a $10 billion grant program within the Department of Education to invest in expanding community college access. Existing community colleges, states, local governments, and municipalities would be eligible for grant funding to establish or expand community colleges and programs to underserved areas, as well as address infrastructure needs at existing community colleges to help them serve students.
    The Community College Infrastructure Financing Act would create a bond program to provide interest-free financing for community colleges, which will allow existing community colleges, States, local governments, and municipalities, to issue “Qualified Community College Bonds” to establish or expand community colleges and programs to underserved areas, as well as address existing infrastructure needs to help them serve students. The bond’s interest would be covered through a federal tax credit to the bondholder in lieu of an interest payment by the municipality.
    Each year, thousands of community college students transfer to four-year institutions before receiving a degree. These students complete additional courses at those institutions, which if taken at a community college, would have earned them an associate degree. However, if these students leave the four-year university before graduation, they are left with nothing to show for their hard work, even though they have fulfilled the requirements for a shorter degree. The CREATE Graduates Act will help students receive the degrees that they have already earned by creating incentives for institutions of higher education to establish “reverse transfer” programs, or initiatives to transfer back credits from a four-year institution to the community college where a student without a degree was initially enrolled. As a result, this bill will allow eligible students to obtain the associate degree that they have earned and, consequently, be more competitive when they enter the job market and ready to succeed.
    Read more about the Funding Community College Infrastructure Act and the Community College Infrastructure Financing Act here. Read more about the CREATE Graduates Act here.

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Cortez Masto Receives NALEO’s 2024 Edward R. Roybal Award for Outstanding Public Service

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    In Case You Missed It, Senator Catherine Cortez Masto (D-Nev.) was awarded the 2024 Edward R. Roybal Award for Outstanding Public Service by the National Association of Latino Elected and Appointed Officials (NALEO). She accepted the award at the Edward R. Roybal Legacy Celebration this week. U.S. Senator Ben Ray Luján (D-N.M.) and President and CEO of the Vegas Chamber of Commerce Mary Beth Sewald spoke at the celebration to honor Senator Cortez Masto for her bipartisan work for working families and small businesses in Nevada and across the country.
    “I’m honored to receive such a meaningful award, and I want to thank NALEO for its tireless advocacy on behalf of Latinos throughout our country. I also want to thank Mary Beth and Senator Luján for your kind words and your partnership,” said Senator Cortez Masto. “From local school boards to state government to federal delegations, Latinos are making policy that reflects our nation’s diversity and that ensures nobody gets left behind. I may be the first Latina in the Senate, but I know I won’t be the last, and I’m working every day to make sure of it.”
    “As the first and only Latina Senator, Catherine is inspiring the next generation of leaders to continue a legacy of fighting for our communities and making things better for everyone. Senator Cortez Masto is one of the most effective leaders in the Senate – always willing to reach across the aisle and work with anyone who will deliver for her constituents and the American people,” said Senator Luján. “I was honored to join our friends and colleagues in recognizing Senator Cortez Masto’s leadership. I am lucky to count her as a mentor and a friend.”
    “It is my profound honor to be here this evening to pay tribute to U.S. Senator Catherine Cortez Masto,” said Mary Beth Sewald, President & CEO of Las Vegas Chamber of Commerce. “From her own upbringing in Las Vegas, she understands that families and small businesses are the economic generator and the fabric of our national economy, and she has a record of working to pass legislation to make it easier to get a good-paying job, own a business, and build a better life. On behalf of the Las Vegas Chamber of Commerce Board of Trustees, your fellow Nevadans, and all of us who are blessed to know you, a heartfelt congratulations on earning the Edward R. Roybal, Legacy Award for Outstanding Public Service.”
    Established in 1996, the Edward R. Roybal Award for Outstanding Public Service is presented to individuals who have distinguished themselves as devoted public servants to the nation and the Latino community. The award pays tribute to the organization’s founder and President Emeritus, the late Congressman Edward R. Roybal. For more information about the NALEO and the Edward R. Roybal Legacy Celebration, click HERE.

    MIL OSI USA News –