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Category: Economy

  • MIL-OSI: SafeCard Reviews [CONSUMER REPORTS 2025]: Don’t Buy Till You’ve Read This!

    Source: GlobeNewswire (MIL-OSI)

    MONROE, La., March 29, 2025 (GLOBE NEWSWIRE) — Transactions are now faster than ever thanks to contactless payment methods and RFID-enabled cards, but they have also made it easier for criminals to gain access to your private information. Powerful RFID skimming devices have made it possible for cyber criminals to collect your personal card information without any physical contact, and the sad part is that you have probably been a victim in the past, with or without realising it. Many people are now looking for trustworthy methods to safeguard their personal and financial data without the bulk of RFID wallets and sleeves.

    SafeCard RFID Blocking Card Reviews

    We will be discussing the SafeCard, a thin and lightweight RFID-blocking card that promises to stop unwanted scanning of debit cards, credit cards, and other RFID-enabled devices. Many USA consumer reports claim it’s a sleek, hassle-free answer to digital theft, unlike heavy RFID wallets or thin sleeves. Does it, however, work as advertised? Any SafeCard Reviews Complaints on Trustpilot And Reddit?

    It’s important to be on the safe side given the abundance of security devices available on the market. Despite their lofty claims, several RFID-blocking devices fall short of providing adequate protection, leaving consumers vulnerable to cyber theft. Others are difficult to use, requiring frequent modifications or adding needless bulk to wallets.

    But does the SafeCard really work, or is it simply another overhyped RFID-blocking device? Is it worth your dime? What is the real truth of the SafeCard Shield, despite the hype it’s getting in the USA? To answer all these questions and more, we will look more closely at what makes it special, go over some of its main features, pros and cons and actual customer experiences.

    Introduction to Safecard

    What is Safecard (Safecard Reviews)

    If this is your first time hearing about this RFID Blocking device, your first question would be ‘What is The SafeCard?’ So let’s start by answering that. SafeCard is an innovative RFID-blocking gadget made to prevent unwanted scanning of passports, credit cards, debit cards, and other RFID-enabled objects.

    Scammers can now obtain important information from your cards without making direct contact using powerful RFID skimming devices. By creating an imperceptible barrier that prevents these scanning efforts, SafeCard provides a dependable solution and guarantees the security of your financial and personal information.

    SafeCard neutralizes skimming devices by using active interference technology. It creates a barrier around your cards when you carry them in your wallet or purse, keeping identity thieves out. For shoppers, travelers, and anybody else worried about digital security, this makes it a great option.

    SafeCard’s lightweight, thin design is one of its best qualities; it lets customers experience safety without having to carry heavy accessories. With its long-lasting build and universal compatibility with all RFID-enabled cards, it provides long-term 24/7 protection. The SafeCard is a simple, cost-effective, and efficient method of protecting your private information that gives you peace of mind wherever you go.

    FLASH OFF: Click Here To Buy SafeCard From The Official Website – Up To 50% Off, Only While Stock Lasts

    Explanation on How The SafeCard Shield Works

    SafeCard prevents unwanted scanning of your passports, credit cards, debit cards, and other RFID-enabled objects by actively blocking RFID and NFC signals. In contrast to conventional RFID-blocking wallets or sleeves that passively protect cards from signals, SafeCard instantly blocks scanning efforts, guaranteeing that even with sophisticated skimming tools, cybercriminals cannot access your private data. Just put the SafeCard in your wallet, handbag, or cardholder with your other cards to use it. It surrounds them with a protective field that prevents unwanted scanners from picking up RFID signals.

    Most RFID-enabled cards are compatible with SafeCard’s active protection solution, which provides a more sophisticated and dependable option than passive shielding techniques. Its lightweight and thin design also makes it possible for you to use it conveniently without having to deal with the bulk. SafeCard guarantees that your financial and personal information is always secure; you can now travel, buy, or commute with peace of mind.

    Verified Distinguishing Features Of The SafeCard (SafeCard Reviews USA)

    The SafeCards manufacturer’s objective is to provide you with a convenient and safe experience while keeping you one step ahead of fraudsters. SafeCard has recorded a plethora of customer reviews and validated testimonials supporting its functionality. Let’s look at the unique features of SafeCard:

    • Advanced RFID Blocking: SafeCard’s innovative RFID and NFC blocking technology is central to its effectiveness.. The card uses a strong electromagnetic shielding mechanism to stop your ID badges, smart passports, debit cards, and credit cards from being scanned without your permission. Verified users have shared their experiences, proving that SafeCard is effective; thus, this isn’t simply a theoretical assertion. For example, Hannah L. recalled that she had twice been the victim of card skimming at airports. She reported feeling secure after using SafeCard, pointing out that its covert and lightweight design has already thwarted multiple scanning efforts. These first-hand reports provide strong proof that SafeCard performs as intended.
    • Lightweight and Simple design: The thin, light, and simple design of SafeCard is a huge plus. Nobody is interested in dealing with bulky gadgets as they make daily routine tiresome. SafeCard is nearly undetectable in your wallet or purse because it is only 1.1 mm thick, unlike conventional RFID-blocking wallets or sleeves. Another confirmed customer, Emma R., emphasized this advantage by drawing comparisons to RFID wallets she had previously used. She underlined that SafeCard provided the same security without sacrificing comfort or convenience, while the conventional choices were cumbersome and inconvenient; this implies that you will get dependable protection that fits in well with your way of life.
    • No batteries needed: SafeCard offers 24/7 protection as it does not need batteries or recharging. Long-lasting performance without the inconvenience of moving around with chargers or replacing out batteries is guaranteed. The SafeCard is a great option for both regular travelers and daily commuters who require round-the-clock safety wherever they go.
    • Universal compatibility: Another feature that sets SafeCard apart from the competition is its universal compatibility. SafeCard is compatible with all RFID-enabled devices, including transport passes, credit and debit cards, and even access cards. The SafeCard eliminates the need for you to switch between different kinds of protective sleeves for different kinds of cards. You can simplify your security requirements and ensure complete protection across all your RFID-enabled cards with SafeCard.
    • Long-lasting: The manufacturers of the SafeCard are aware that durability is important to you. Long-term use is ensured by SafeCard’s construction using premium, dust-proof, and water-resistant materials. The card is made to resist normal wear and tear, whether you’re driving through crowded cities or in inclement weather. The SafeCard won’t require regular replacements or extra care for many years.
    • Travel-friendly: The TSA-friendly design of SafeCard is a big plus for frequent travelers. Traditional RFID-blocking wallets that could set off alarms during airport security checks are an annoyance, and we understand that. SafeCard was designed to make sure that your trip is easy and hassle-free. Verified buyer Rachel T. told how scammers accessed her bank account while she was traveling through Rio. Her trip was transformed by a SafeCard recommendation, and she now feels confident knowing her wallet is protected. When you are walking through congested public areas or airports, this certainty is priceless.
    • Multi-layer protection: Apart from its fundamental RFID-blocking features, SafeCard incorporates multi-layer encryption. This extra function makes sure that your data is protected by layers of strong encryption, even in the event of an unauthorized attempt to access it. The encryption serves as an additional barrier, protecting your private information from prying eyes even while the device concentrates on preventing illegal scans.
    • Affordable: The SafeCard is available at a surprisingly affordable price. Users of most pay grades can afford the SafeCard without breaking the bank.

    Is SafeCard Better Than RFID Sleeves?

    Many people, especially frequent travelers, are looking for trustworthy methods to safeguard their financial and personal data due to the growing threat of digital theft and illegal RFID scanning. For many years, RFID-blocking sleeves were the only popular solution, hence the tolerance despite their many drawbacks. The SafeCard is here now and is superior to conventional RFID sleeves.

    The fact that RFID sleeves only use passive shielding to prevent signals is one of their main drawbacks. A coating of metallic substance inside these sleeves keeps RFID readers from accessing card data. However, the card must be fully covered and positioned inside the sleeve for them to be effective. Protection may be jeopardized if a card is even slightly exposed or if the sleeve wears out. Conversely, SafeCard makes use of active detection technologies in conjunction with sophisticated electromagnetic shielding. It ensures constant protection by automatically blocking RFID scanning attempts, saving users from having to manually insert or remove cards.

    SafeCard’s lightweight and thin design, which fits easily into any wallet, is another significant benefit. Although theoretically functional, RFID-blocking sleeves can be cumbersome and inconvenient. The fact that each card must be stored separately makes them difficult for many people to use. As a result, people who carry several RFID-enabled cards will need to buy extra sleeves or swap out their cards often. By providing universal safety for all surrounding RFID cards without the need for separate storage, SafeCard removes this inconvenience. Emma R., a verified buyer. recounted her experience, pointing out that SafeCard is so discreet that she hardly notices it’s there and that it performs better than RFID wallets or sleeves.

    Another area in which SafeCard performs better than conventional RFID sleeves is durability. Many sleeves are composed of thin fabrics that eventually rip, deteriorate, or lose their usefulness. SafeCard, on the other hand, is made to endure regular use and has dustproof and water-resistant components that guarantee long-term use. Users don’t have to bother with inefficient shielding or the need to replace worn-out sleeves on a regular basis. The SafeCard is an excellent investment for digital security and definitely superior to RFID and sleeves.

    FLASH OFF: Click Here To Buy SafeCard From The Official Website – Up To 50% Off, Only While Stock Lasts

    Shocking Myths and Truths About SafeCard (SafeCard Shield Reviews)

    As a dependable defense against illegal RFID scanning, SafeCard has grown in popularity in the USA as well as other countries of the world, but like many security devices, it has also been shrouded in rumors and false beliefs. It’s important to distinguish fact from fiction in order to appreciate SafeCard’s true worth. The most common myths and the facts that refute them are listed below.

    Myth 1: SafeCard Is Just Another RFID Sleeve

    The idea that SafeCard works in the same way as a conventional RFID sleeve is among the most common fallacies. Many people believe that passive blocking using material layers is the same approach used by all RFID shielding. This is not at all the case, though. SafeCard is an instant RFID-blocking device that blocks scanning attempts in real time. In contrast to RFID sleeves, which, depending on their quality, can still permit some signals to get through, SafeCard automatically blocks attempts at data compromise.

    Myth 2: RFID Skimming Isn’t a Real Threat

    There is no actual risk of card information being taken electronically, according to those who think RFID skimming is an overblown problem. However, innumerable instances have demonstrated that physical contact is not necessary to compromise RFID-enabled cards. High-tech scammers have targeted travelers in particular, using concealed RFID scanners to collect card information in crowded places like airports and public transportation. Hannah L., a verified buyer. “I’ve had my cards skimmed in airports twice, and it was terrifying,” she said, sharing her story. I truly feel safe when traveling now that I have SafeCard.” This actual case demonstrates that RFID skimming is a genuine and expanding issue.

    Myth 3: SafeCard Is Bulky and Inconvenient

    Some people believe that RFID-blocking devices must be bulky. Well, this might be the case with large wallets that prevent RFID, but SafeCard was made to be portable and convenient. It is lightweight, slim, and fits neatly into any purse or wallet without taking up much space. As confirmed purchaser Emma R. stated, “I’ve previously used RFID wallets, but they were cumbersome and inconvenient. I don’t even realize SafeCard is there, yet it works so much better! “

    Myth 4: SafeCard Requires Constant Charging

    Some people feel that SafeCard is stressful for daily usage because it requires frequent recharging. On the other hand, SafeCard does not need charging at all. It will continue to work 24/7 without needing a battery.

    Myth 5: RFID-Blocking Products Are Unnecessary if You Have a Chip Card

    Many people believe that current chip-enabled debit and credit cards are sufficiently safe and don’t need extra RFID protection. When the card is only in a pocket or wallet, chip technology does not stop unwanted RFID scanning, even though it helps improve security during transactions. By providing an additional layer of security, SafeCard prevents hackers from stealing your data without your knowledge.

    Truth: SafeCard Offers Genuine Security and Peace of Mind

    Despite all of the fallacies, SafeCard is still a legit and useful card for safeguarding personal and financial data. Verified customers have continuously commended its dependability, use, and capabilities. One happy client, Aubree R., said, “I purchased a SafeCard for my family and myself. It’s so simple to use, and I feel more at ease every day knowing that we’re all safe. Ultimately, SafeCard stands out as a reliable, efficient, and user-friendly defense against RFID skimming.

    Step-by-Step Guide on How to Use SafeCard (SafeCard Instructions)

    Using SafeCard is simple and requires no complicated setup. Follow these steps to ensure maximum protection:

    • Step 1: Unbox your newly purchased SafeCard; the good thing is that you don’t need to charge it.
    • Step 2: Insert SafeCard alongside your credit, debit, or ID cards in your wallet or purse.
    • Step 3: SafeCard activates instantly, creating a shield that blocks RFID scanning attempts.
    • Step 4: You can now travel safely because the SafeCard will continue to work as long as it’s in the same wallet with your cards.

    Is SafeCard Legit?

    Many customers are understandably wary of security products given the rising risk of identity theft, digital fraud and probably previous bad experiences with the traditional RFID wallets. Devices with big claims but that fall short are common in the market, which makes people skeptical of SafeCard and similar tools. However, SafeCard’s authenticity is strongly supported by verified customer feedback, demonstrating that it is a valid and trustworthy RFID-blocking device.

    The SafeCard ensures that all your sophisticated RFID-enabled cards, including credit cards, debit cards, passports, and access badges, cannot be scanned without your notice. Unlike conventional blocking sleeves, SafeCard instantly recognizes and blocks scanning efforts in real time. Users attest to the product’s effectiveness; one verified customer, Hannah L., reports that SafeCard has already prevented many scanning attempts while on the road. Her story demonstrates how the product offers genuine defense against possible fraud.

    Numerous consumers have expressed their satisfaction, demonstrating that SafeCard prevents RFID scans and differs from subpar substitutes that don’t provide any true protection. Months of protection are guaranteed with any need for battery changes.

    The overwhelmingly positive reviews left by actual users are one of the best proofs of SafeCard’s legitimacy. Clients such as Rachel T. along with Melissa H., have reported how using SafeCard has prevented them from falling victim to financial fraud in public places. It is a worthy option for travelers because of its lightweight construction, TSA-approved design, and universal compatibility. These practical experiences attest to SafeCard’s status as a reliable security card rather than just another gimmick. SafeCard is by no means a hoax

    FLASH OFF: Click Here To Buy SafeCard From The Official Website – Up To 50% Off, Only While Stock Lasts

    What Makes the SafeCard So Affordable?

    The cost of SafeCard actually surprised many users; We mean, how can a product made to prevent RFID theft be so reasonably priced in a market filled with products with high price tags yet claim superior protection? Unlike expensive RFID-blocking wallets or expensive high-tech security devices, SafeCard provides an affordable option without sacrificing efficacy or quality.

    The simplified design of SafeCard is a major factor in its price. Instead of bundling unnecessary features that inflate the price, SafeCard focuses solely on delivering reliable RFID-blocking technology in a compact form. It doesn’t need a large structure or pricey components; production costs were kept low while still providing excellent protection against digital theft.

    Additionally, SafeCard is sold directly through its official website, cutting out middlemen and reducing extra retail markups. Many security products go through multiple distribution channels before reaching the customer, which significantly raises their final price. By offering SafeCard online without relying on third-party sellers, the manufacturer ensures that buyers get the best price possible without paying unnecessary commissions or inflated retail costs.

    Another reason SafeCard remains affordable is its long-lasting design. Unlike disposable RFID sleeves that need frequent replacement or wallets that wear out over time, SafeCard is built to last. With a durable, non-battery-powered system, it provides continuous protection without requiring users to spend extra on replacements. SafeCard proves that high-quality security doesn’t have to come with a premium price. You can give it a try right away!

    SafeCard Reviews Consumer Reports From United States, Canada, Australia

    Verified Customer Reviews from real users have been included below to help you see the SafeCard from a user perspective:

    • Hannah L. | Verified Purchase -“I’ve had my cards skimmed in airports twice, and it was terrifying. Since using SafeCard, I finally feel safe while traveling. It’s lightweight, discreet, and has stopped several attempted scans already.”
    • Rachel T |Verified Purchase – “While traveling through Rio, I discovered my bank account had been drained by scammers. I was devastated. A fellow traveler recommended SafeCard, and it’s been a lifesaver ever since. No more stolen data, no more stress. Now I can travel with confidence knowing my wallet is secure.”
    • Aubree R. | Verified Buyer – “I got SafeCard for myself and my family. It’s so easy to use, and knowing we’re all protected gives me peace of mind every day. It’s worth every penny!”
    • Emma R. | Verified Buyer – “I’ve used RFID wallets before, but they were bulky and annoying. SafeCard works so much better, and I don’t even notice it’s there!”
    • Melissa H.| Verified Purchase – “I love going to holiday markets, but after watching my friend lose hundreds to a scammer, I knew I needed protection. SafeCard blocks thieves silently, and I haven’t had an issue since. It’s the best purchase I’ve made for my security!”

    FLASH OFF: Click Here To Buy SafeCard From The Official Website – Up To 50% Off, Only While Stock Lasts

    Pros of SafeCard (SafeCard Reviews)

    • SafeCard effectively prevents unauthorized scanning of credit cards, debit cards, passports, and access cards, protecting users from digital theft.
    • Unlike bulky RFID-blocking wallets, SafeCard is ultra-thin and easily fits into any standard wallet, making it a convenient security solution.
    • No batteries or recharging needed
    • SafeCard works with RFID-enabled cards, including credit/debit cards, transit passes, and passports, making it a versatile security tool.
    • SafeCard does not interfere with airport security checks, making it perfect for frequent travelers who need reliable protection.
    • Built with durable materials, SafeCard offers reliable performance at all times
    • There is no setup required; simply place SafeCard in a wallet or purse alongside other cards, and it automatically starts protecting them.
    • SafeCard is available exclusively on its official website, eliminating middlemen and keeping costs lower than competing RFID security devices.

    Cons of SafeCard (SafeCard Reviews)

    • Limited Availability – SafeCard is only sold through the official website, making it difficult for users who prefer purchasing from retail stores or third-party platforms.
    • Not Effective Against Physical Theft – While SafeCard protects against RFID skimming, it does not prevent physical card theft, meaning users still need to be cautious about losing their wallets.
    • Limited in stock – The SafeCard is fast selling out, so hurry while supplies last, and you benefit from the current available discounts.

    How Much Is A SafeCard?

    The SafeCard is available at a really affordable price. You can get your own SafeCard at the following pricing:

    Where Can I Buy SafeCard At The Best Pricing?

    For those looking to purchase SafeCard, the best and most reliable place to buy it is the official website. Buying directly from the official source ensures that customers receive a genuine, high-quality product with all the promised features and benefits. With the rise in counterfeit and substandard RFID protection products, purchasing from unauthorized third-party sellers can pose risks, including receiving an ineffective or fake version of SafeCard.

    Ordering from the official website also comes with several advantages. Customers often gain access to exclusive discounts, bundle deals, and special promotions that are not available elsewhere. Additionally, purchasing directly from the manufacturer ensures better customer support, warranty protection, and hassle-free returns in case of any issues.

    Another key benefit of buying from the official website is the guarantee of security and privacy. Unlike some third-party marketplaces where seller credibility may be uncertain, the official website provides a secure checkout process that protects customers’ personal and payment information.
    Many verified buyers have shared their positive experiences after purchasing SafeCard directly from the manufacturer. The process is straightforward, and orders are typically shipped quickly to ensure fast and reliable delivery.

    To avoid counterfeit products and ensure authentic RFID protection, purchasing SafeCard from the official website is the smartest choice. Visit the manufacturer’s website today to secure personal and financial information with this trusted, high-quality security solution.

    CLICK HERE NOW TO BUY SAFECARD DIRECTLY FROM THE OFFICIAL WEBSITE AT A MASSIVE DISCOUNT

    Commonly Asked Questions (SafeCard Wallet)

    With so much information available, it’s natural to have questions before making a purchase. The comprehensive FAQ section below answers the most common queries about SafeCard, helping you understand the RFID blocking card better.

    Is SafeCard different from RFID-blocking wallets?

    Yes, SafeCard is not just different but better. While RFID-blocking wallets and sleeves rely on a physical barrier to block signals, SafeCard uses the latest technology to neutralize skimming attempts in real time. Additionally, it is slim and lightweight, allowing you to use your existing wallet without adding bulk.

    Do I need a special wallet to use SafeCard?

    No, SafeCard is designed to work with any wallet, purse, or cardholder. Simply place it next to your credit or debit cards, and it will provide instant protection against RFID skimming.

    What types of cards does SafeCard protect?

    SafeCard is compatible with all RFID-enabled cards, including:

    • Credit and debit cards
    • Transit and metro cards
    • Passports with RFID chips
    • Work and access cards
    • Hotel key cards

    How many SafeCards do I need?

    One SafeCard is usually enough to protect multiple cards in a standard wallet. However, if you carry multiple wallets or bags, purchasing an extra SafeCard for each would ensure full protection.

    Is SafeCard effective against all types of digital theft?

    SafeCard is highly effective against RFID skimming, a common form of digital theft where criminals use scanners to steal card data wirelessly. However, it does not protect against physical card theft.

    Does SafeCard require charging?

    No. The SafeCard doesn’t require charging, so it will continue to work in all circumstances.

    Can SafeCard be used while traveling?

    Yes, SafeCard is TSA-approved and safe for travel, so it will work in the USA, Canada, Australia, New Zealand and other countries of the world. Unlike metal RFID wallets that might trigger airport security detectors, SafeCard does not interfere with screening processes, making it ideal for frequent travelers.

    Will SafeCard interfere with my phone or other electronics?

    No, SafeCard does not affect mobile phones, Wi-Fi signals, or other electronic devices. It only blocks RFID scanners from reading your card data, ensuring that your personal electronics remain unaffected.

    Is SafeCard waterproof?

    Yes, SafeCard is built with water and dust-resistant materials, making it durable for everyday use. However, it is not fully submersible, so it is best to avoid prolonged exposure to water..

    Does SafeCard wear out over time?

    SafeCard is designed to be durable and long-lasting. With proper care, it will continue to provide RFID-blocking protection for years.

    Can SafeCard be used in a minimalist wallet?

    Yes, SafeCard’s slim design makes it perfect for minimalist wallets. Unlike bulky RFID-blocking wallets, it takes up minimal space while offering superior protection.

    Is SafeCard safe to use?

    Absolutely. SafeCard does not emit harmful radiation or interfere with health devices. It is completely safe to carry in a wallet or purse daily.

    What Are The Benefits Of SafeCard?

    SafeCard provides a very important defense against RFID skimming, stopping illegal access to your financial and personal information. Its lightweight, sleek design offers security without adding bulk and fits easily into any wallet. Travelers, shoppers, and regular users will enjoy the SafeCard’s long-lasting build.

    Can SafeCard protect against contactless payment scammers?

    Yes, SafeCard prevents unauthorized RFID scans, which are commonly used in contactless payment fraud. By blocking these signals, SafeCard ensures that criminals cannot access your card information without your consent.

    Why should I choose SafeCard over other RFID protection methods?

    SafeCard provides a combination of slim design, real-time protection, and universal compatibility, making it one of the most advanced RFID-blocking devices available.

    Final Wrap on SafeCard Reviews

    The SafeCard fulfills its claims according to all available data, consumer reports and complaints. Even discussions on Reddit and Trustpilot agree that the SafeCard is a worthy investment. With its advanced shielding technology, slim design, and ease of use, SafeCard makes sure your private information stays private.

    Many users have shared how SafeCard has helped them stay safe from fraud and financial loss. Rachel T., a verified buyer, recounted her experience: “While traveling through Rio, I discovered my bank account had been drained by scammers. A fellow traveler recommended SafeCard, and it’s been a lifesaver ever since.” This highlights how common digital theft is and why proactive protection is necessary.

    SafeCard also stands out for its convenience. Unlike bulky RFID wallets, it’s compact and discreet. Emma R. praised its design, saying: “I’ve used RFID wallets before, but they were bulky and annoying. SafeCard works so much better, and I don’t even notice it’s there!” This ease of use makes it a preferred choice for those who want to stay safe without the bulk.

    Investing in SafeCard is a smart step toward protecting finances and identity. With SafeCard, you will stay ahead of scammers and enjoy your trips knowing that your personal data is secure. Hurry while offers last!

    SPECIAL OFFER: Click Here To Buy SafeCard From The Official Website — up to 50% OFF, only while stock lasts!

    Contact: SafeCard
    Email: support@safecardshield.com

    Disclaimer:
    This article is intended for informational and educational purposes only. It does not constitute professional, legal, or cybersecurity advice. While SafeCard may help reduce the risk of RFID-based digital theft, no security product can guarantee 100% protection in all scenarios. Individual results may vary based on usage and other factors. Always exercise general caution and follow best practices when safeguarding your financial and personal data. The publisher and all parties involved in the creation and distribution of this content are not liable for any misuse, loss, or damages arising from the use or reliance on the information provided herein. Always consult the official product website or customer support for the most accurate and updated details.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/73cfc771-032a-4dcd-b2b0-d26ecb66dcc6

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d29cc163-cb6a-4c66-8edf-2f62994e3c33

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b8ff53aa-ffa8-40dc-a79b-e77933daa881

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f88be7c1-c53a-483c-8063-ef12d643d7d6

    The MIL Network –

    March 30, 2025

  • MIL-OSI USA: Duckworth, Durbin Join Shaheen in Push to Overturn Citizens United Ruling

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    March 28, 2025

    Legislation would rid American elections of dark money & excessive corporate campaign spending

    [WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL) and U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, joined U.S. Senator Jeanne Shaheen (D-NH) and 37 Democratic and Independent Senators to reintroduce a Constitutional amendment to overturn the Supreme Court’s Citizens United v. FEC decision, which removed campaign finance restrictions and opened the door for foreign and domestic entities to spend unlimited money to influence elections. The Democracy for All Amendment would also overturn other far-reaching decisions around campaign finance that wrongfully equated money with free speech and unfairly determined that big, wealthy corporations have the same First Amendment rights as people. 

    “It is past time that we get the corrosive influence of big money out of our politics to stop billionaires and massive corporations from boxing out the voices of middle-class families,” said Duckworth. “I’m proud to join my colleagues in supporting legislation that would overturn the disastrous Citizens United ruling and restore power to the people.”

    “The Citizens United ruling opened the floodgates for dark money to directly impact our political system for the benefit of corporations and special interests,” said Durbin. “But our government was intended to be a democracy of the people, by the people, for the people. We must mend the broken campaign finance system that elevates the voices of a few wealthy donors over millions of Americans. It’s time we enshrined the Democracy for All Amendment in our Constitution.”

    The Democracy for All Amendment would empower Congress and states to set reasonable campaign finance rules and limit corporate spending. The amendment would enshrine in the Constitution the right of the American people to regulate the raising and spending of funds in public elections and curb the concentration of political influence held by the wealthiest Americans.     

    Along with Duckworth, Durbin and Shaheen, U.S. Senators Alex Padilla (D-CA), Brian Schatz (D-HI), Chris Van Hollen (D-MD), Chris Coons (D-DE), Raphael Warnock (D-GA), Amy Klobuchar (D-MN), Tina Smith (D-MN), Ron Wyden (D-OR), Jeff Merkley (D-OR), Sheldon Whitehouse (D-RI), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Angus King (I-ME), Mark Kelly (D-AZ), Martin Heinrich (D-NM), Andy Kim (D-NJ), Catherine Cortez Masto (D-NV), Chuck Schumer (D-NY), Maggie Hassan (D-NH), Peter Welch (D-VT), Ed Markey (D-MA), Bernie Sanders (I-VT), Patty Murray (D-WA), Kirsten Gillibrand (D-NY), Elizabeth Warren (D-MA), Ruben Gallego (D-AZ), Jacky Rosen (D-NV), Jack Reed (D-RI), Tim Kaine (D-VA), Mazie Hirono (D-HI), Adam Schiff (D-CA), John Fetterman (D-PA), Gary Peters (D-MI), Tammy Baldwin (D-WI), Ben Ray Lujan (D-NM), Mark Warner (D-VA) and Cory Booker (D-NJ) are also cosponsors of the Democracy for All Amendment. 

    Both Durbin and Duckworth were strong supporters of the For the People Act—a sweeping package of comprehensive reforms that would end special interest corruption of our politics and make government work for the people. The landmark legislation passed the House of Representatives in 2021 when it was under a Democratic majority, but failed to receive the 60 votes necessary in the Senate in June 2021 due to Republican opposition.

    MIL OSI USA News –

    March 30, 2025

  • MIL-OSI USA: Understanding Trump’s Union-Busting Executive Order Ending Collective Bargaining For Hundreds Of Thousands Of Federal Workers

    Source: US GOIAM Union

    President Trump issued a sweeping Executive Order and related Fact Sheet invoking “national security” grounds to end collective bargaining with federal unions. Here are the facts about this outrageous and unprecedented attack on federal workers—and on the Labor movement itself.

    FACT: Federal unions do not undermine national security!

    • Federal civil servants dutifully protect and serve our nation every day and having a union has never changed that.
    • Many federal workers are veterans. Taking away their rights to a representative and a voice in the workplace by claiming it threatens “national security” shows disdain and disrespect for their lifelong dedication to public service.

    FACT: This is retaliation against unions for standing up for the workers they represent.

    • Unions, including the IAM, have been fighting Trump’s effort to ruthlessly terminate tens of thousands of federal workers in violation of laws and CBAs that prevent such arbitrary terminations. Trump cites unions filing grievances to protect workers’ rights and jobs as the rationale for his EO. Trump’s effort now to get rid of the Unions that protect those workers is retaliation for exercising rights protected by federal law.

    FACT: Collective bargaining rights for federal workers do not negatively impact the government.

    • Trump cites the very existence of binding collective bargaining agreements to protect employee working conditions as “dangerous.” But presidents from both parties have upheld the right of federal workers to union representation for decades. CBAs provide both management and employees with guideposts for an efficient and fair workplace.

    FACT: Taking away workers’ unions makes things worse, not more efficient!

    • By eliminating employee unions’ collective bargaining rights, it becomes harder for federal employees to do their jobs. They will face retaliation without any grievance process to address issues. These are the people who take care of our veterans and protect our country, who enforce laws and protect the health and safety of the public.

    FACT: This EO is designed to take away workers’ protections and unions’ abilities to fight back.

    • Ending payroll dues deduction is another direct attempt to attack unions’ ability to fight for workers. Anti-union forces always want to make it harder for members to contribute to their representation, because they hope that it will stop financial support for unions that fight back to protect workers.
    • The agencies Trump targeted are described as having critical national security missions—but these are the same agencies that he and his Elon Musk-led DOGE team are targeting for massive layoffs and budget cuts. They are stripping union representation away from workers right when they need it most!

    The IAM is working with other unions representing federal employees to mount a legal challenge to this unprecedented attack on federal workers. We will not sit back and watch workers lose the right to representation and a voice on the job!

    Share and Follow:

    MIL OSI USA News –

    March 30, 2025

  • MIL-OSI: ForexIGO by Avenix Fzco Enhances Automated Trading with Dual-Asset Precision

    Source: GlobeNewswire (MIL-OSI)

    LIMASSOL, CYPRUS, March 29, 2025 (GLOBE NEWSWIRE) — Avenix Fzco has unveiled ForexIGO, an advanced multi-market trading bot designed to automate strategies for both gold (XAUUSD) and the British pound against the US dollar (GBPUSD), offering traders a streamlined approach to diversification. Automated trading has come a long way, versatility matters more than ever. Traders are increasingly looking beyond single-market bots and toward solutions that can handle multiple assets at once. This shift has sparked growing interest in multi-market trading bots – systems designed to navigate different markets simultaneously, spreading risk and boosting opportunity. One such tool is ForexIGO, developed by Avenix Fzco, which brings together smart automation for both gold (XAUUSD) and the British pound against the US dollar (GBPUSD).

    Why Multi-Market Trading Bots Are Gaining Ground

    Traditional trading bots often zeroed in on a single market or asset. Today, though, financial markets move fast and unpredictably, pushing the rise of bots that can handle multiple asset classes. This approach helps traders spread risk and seize opportunities across a wider landscape, less reliance on one market, more room to adapt.

    Dual-Asset Focus with Practical Precision

    ForexIGO is carefully crafted to trade both XAUUSD and GBPUSD on the M30 timeframe. This dual-asset focus gives traders the ability to shift between markets based on conditions or strategy, offering greater control and the potential for stronger returns. It’s a practical way to diversify without overcomplicating the process.

    How ForexIGO Makes It Work

    It stands out for its smart market analysis, decoding price action, indicators, and candlestick patterns like bullish or bearish engulfing to deliver clear, confident trade signals.

    Built-In Risk Controls for Real-World Markets

    Capital preservation remains central to ForexIGO’s strategy. Stop-loss and take-profit ratios are tailored to each market: for gold, the take profit is set at 1.5 times the stop loss, striking a thoughtful balance. For GBPUSD, it opts for a 1:1 ratio, tailored to the pair’s dynamics. This structured approach maximizes potential gains while keeping losses in check.

    Smart Limits and Continuous Monitoring

    To prevent overexposure, ForexIGO limits active positions, handling one gold position at a time and up to four concurrent GBP/USD trades. Its 24/5 monitoring ensures it remains alert across market sessions, offering consistent oversight without requiring the trader to be glued to a screen.

    Looking Ahead

    As traders move toward diversification and smarter automation, tools like ForexIGO offer a balanced, hands-on approach to navigating complex markets, without adding extra complexity.

    About ForexIGO

    ForexIGO delivers cutting-edge trading solutions, empowering traders to navigate the complexities of Gold and GBP/USD markets with precision. Backed by a team of market experts and algorithmic specialists, ForexIGO continuously evolves, leveraging innovation to provide a competitive edge. Learn more at https://forexigo.com/.

    Media contact

    Brand: ForexIGO

    Contact: PR team

    Email: support@forexigo.com

    Website: https://forexigo.com/

    The MIL Network –

    March 30, 2025

  • MIL-OSI Global: Signal-gate: a national security blunder ‘almost without parallel’

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor

    Depending on what you think of Donald Trump, his administration could fit either of the following two descriptions. Chaotic, vindictive and accident-prone, marked by mendacity, driven by impulse and bent on securing the will of the leader, rather than – as in the US constitution – the will of the people. Or it could be a government masterminded by a man playing 4D chess while all around him are playing chequers. A president whose deal-making skills and focus on outcomes ensure the security and prosperity of America and its allies.

    If you base your assessment on the people Trump has chosen as his key national security advisers then, after the recent Signal chat group intelligence debacle, you’d almost certainly opt for chaotic and accident-prone, at the very least.

    Looking around the Signal chatroom, who do we have? National security advisor Mike Waltz, Vice-President J.D. Vance, secretary of state Marco Rubio, defense secretary Pete Hegseth, director of national intelligence Tulsi Gabbard, CIA director John Ratcliffe and a supporting cast of other senior Trump staffers. And, unwittingly, the editor-in-chief of the Atlantic, Jeffrey Goldberg.

    Heads must roll, say Trump’s critics. But who from this hydra-headed beast should take the fall? Should it be Waltz, who invited Goldberg to the chat group? Or Hegseth, who posted operational details of a US attack, including the when, where and how, hours before it was due to take place? Should it be Vance, whose swipe at America’s freeloading European allies has caused considerable angst across the Atlantic?

    Or perhaps one or another of Gabbard and Ratcliffe, who sat in front of the Senate select committee on intelligence on Tuesday and maintained that no classified material or “war plans” had been revealed to the group – sworn evidence now revealed to be unreliable at best?

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    At present it seems as if none of them are going to pay for their dangerous incompetence. Instead their ire is turned on Goldberg, who has variously been called a “sleazebag” by Trump himself, “loser” and the “bottom scum of journalists” by Waltz and a “deceitful and highly discredited, so-called journalist who’s made a profession of peddling hoaxes time and time again” by Hegseth.

    Robert Dover of the University of Hull, whose research centres on intelligence and national security, believes this is a “national security blunder almost without parallel”. He points to the hypocrisy of people like Hegseth who savaged Hillary Clinton for using a private email server to conduct official business when she was secretary of state under Barack Obama.

    Dover also notes the damage the episode will have done to America’s already shaky relations with its allies in Europe. Being disparaged by the vice-president as freeloaders and dismissed by the defense secretary as “pathetic”, he believes, will be “difficult to unsee”.



    Read more:
    Signal chat group affair: unprecedented security breach will seriously damage US international relations

    But credit where it’s due, it appears that US diplomacy may at least be bearing some – limited – fruit. At least, that is, if the two partial ceasefires recently negotiated between Russia and Ukraine actually materialise. That’s a fairly big if, of course. Despite a pledge by both sides that they could support a deal to avoid targeting each other’s energy infrastructure, there’s no sign yet of a cessation of attacks.

    And there has been a degree of scepticism over the recently announced plan for a maritime ceasefire to allow the free passage of shipping on the Black Sea. Critics say this favours Russia far more than Ukraine. Over the course of the war, Ukraine has successfully driven Russia’s Black Sea fleet away from its base in Crimea, giving it the upper hand in the maritime war. But maritime strategy expert, Basil Germond, says the situation is more nuanced, and the deal represents considerable upside for Ukraine as well.



    Read more:
    Russia has most to gain from Black Sea ceasefire – but it’s marginal, and Ukraine benefits too

    Setting aside America’s eventful recent forays into foreign relations, there’s a major domestic fix brewing which many US legal scholars believe could plunge the country into a constitutional crisis.

    Anne Richardson Oakes, an expert in US constitutional law at Birmingham City University, anticipates a potential clash between between the executive and the judiciary which could threaten the separation of powers that lies at the heart of American democracy.

    Oakes observes there are more than 130 legal challenges to Trump administration policies presently before the courts, some of which will end up in front of America’s highest legal authority, the Supreme Court, which is tasked with assessing the constitutionality of those policies. She warns that we’ve already seen evidence that Trump and his senior officials resent what they consider to be interference from the judiciary into the legitimate executive power of the elected president.

    Will there be a stand-off where the Trump administration simply ignores the Supreme Court’s ruling? It’s happened before, says Oakes. In the mid-20th century, in Little Rock, Arkansas, when the governor used the state’s national guard to prevent the court-ordered desegregation of public schools. On that occasion the then president, Dwight D. Eisenhower, sent in federal troops to enforce the court’s ruling and a constitutional crisis was averted.



    Read more:
    US stands on the brink of a constitutional crisis as Donald Trump takes on America’s legal system

    But what if it’s the serving president who chooses to ignore a Supreme Court ruling? This was the case in the 1830s when greedy cotton farmers in Georgia were bent on forcing the Native American peoples off their lands. The Cherokee actually took the state of Georgia to the Supreme Court, which ruled that as a “dependent nation” within the United States they were entitled to the protection of the federal government and that the state of Georgia had no right to order their removal.

    As historian Sean Lang of Anglia Ruskin University recounts, Georgia ignored the Supreme Court’s ruling and sent in troops to expel the Cherokee who were then forced to move to new lands in a journey known as the “Train of Tears”. Lang writes that then US president, Andrew Jackson, a populist advocate of states’ rights and former “Indian fighter”, ignored the Supreme Court’s ruling, “sneering that [Chief Justice John] Marshall had no means of enforcing it”.

    Lang concludes: “It’s a history lesson Greenlanders, Mexicans and Canadians – and indeed many Americans who may fall foul of this administration and seek recourse to the law – would do well to study.”



    Read more:
    Trump’s America is facing an Andrew Jackson moment – and it’s bad news for the constitution

    Trump’s chilling effect

    The Trump administration’s antipathy towards judges who have opposed its policies have extended towards those law firms who have in some way crossed the US president. But the legal system is not the only sector to feel the chilling effect of Trump’s displeasure, writes Dafydd Townley.

    The world of higher education in the US is also apprehensive after the administration went after Columbia University, home to some of the most outspoken protest over US policies towards Israel and Gaza. Columbia has recently had to agree to allow the administration to “review” some of its academic programmes, starting with its Middle Eastern studies, after the administration threatened to cancel US$400 million (£310 million) of government contracts with the university.

    The news media is also under heavy pressure. The administration has taken control of the White House press pool from the non-partisan White House Correspondents’ Association and has blackballed Associated Press for refusing to call the Gulf of Mexico the Gulf of America. We’ve also seen Trump himself bring lawsuits against media organisations he judges to have crossed him. And now the president has called for the defunding of America’s two biggest public broadcasters, NPR and PBL, for what he perceives as their liberal bias.

    Townley, an expert in US politics at the University of Portsmouth is concerned that this all adds up to a deliberate attempt to cripple institutions which underwrite American democracy.



    Read more:
    Donald Trump’s ‘chilling effect’ on free speech and dissent is threatening US democracy

    Popularity falls as prices rise

    Trump’s leadership continues to be very polarising, writes Paul Whiteley, a political scientist and polling specialist at the University of Essex, who has spent years studying political trends in the US. Looking at the most recent numbers, Whiteley finds that while Trump’s approval ratings are fairly steady at 48% approval and 49% disapproval, when you dig down you find that only 6% of registered Democrats approve of his performance, while 93% disapprove. For registered Republicans it’s almost exactly the opposite.

    Whiteley takes his analysis further, looking at measures such as consumer sentiment, which has fallen sharply since January, with talk of tariffs and the return of inflation affecting people’s confidence in the economy. He points out there tends to be a fairly strong historical correlation between confidence in the economy and popular approval of a president’s performance.



    Read more:
    Three graphs that show what’s happening with Donald Trump’s popularity

    Another factor which will surely affect people’s confidence in the government are the job losses flowing from Elon Musk’s work as “efficiency tsar”. Thomas Gift, the director of the Centre on US Politics at University College London, believes that federal job losses as a result of Musk’s cuts are spread indiscriminately among Democrat and Republican states. As a result there may be some Republican voters who are experiencing what he calls “buyer’s remorse”.

    At the same time, rising inflation is flowing into the cost of living, something many people voted for Trump to punish the Democrats for. As Gift points out, both parties are experiencing a dip in support at present as people reject politics for having a generally negative effect on their lives. But from now, it’ll be the Republicans who will feel the sting of popular disapproval more keenly.



    Read more:
    Trump’s job cuts are causing Republican angst as all parties face backlash

    World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

    – ref. Signal-gate: a national security blunder ‘almost without parallel’ – https://theconversation.com/signal-gate-a-national-security-blunder-almost-without-parallel-253245

    MIL OSI – Global Reports –

    March 29, 2025

  • MIL-OSI Europe: The Nutrition for Growth Summit mobilizes over US$27 billion to reach nutrition-related Sustainable Development Goals (28 Mar. 2025)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    On March 27 and 28, 2025, at the Nutrition for Growth Summit (N4G), which was organized by the Ministry for Europe and Foreign Affairs under the auspices of Minister Delegate for Francophonie and International Partnerships Thani Mohamed-Soilihi, the international community made ambitious commitments to tackle the challenge of malnutrition in all its forms. Close to US$28 billion in nutrition funding to reach Sustainable Development Goals was announced, attesting to the exceptional degree of mobilization and renewed commitment to multilateralism.

    In total, the international community’s financial commitments in support of nutrition represent US$27.55 billion dollars. The Summit Chair’s final declaration helped reaffirm our shared commitment to global nutrition.

    One hundred twenty-seven delegations, including the governments of 106 countries, in addition to numerous international organizations, civil society organizations, development banks, philanthropic organizations, research institutions, and businesses, met together to help put an end to this scourge, which hinders countries’ economic and social development and traps communities in an intergenerational cycle of poverty. Over 400 commitments were registered on the Nutrition Accountability Framework platform.

    France remains fully committed to nutrition and food aid

    As the N4G Summit host country, France has committed to continuing its efforts in support of nutrition and, between now and 2030, plans to invest €750 million in projects supported by the French Development Agency in particular, as well as in the Ministry for Europe and Foreign Affairs’ food aid programs. In addition, France has announced that it will be boosting food sustainability education, promoting the prevention and early identification of malnutrition, and improving the nutritional quality of the food supply at the national level.

    Thani Mohamed-Soilihi, Minister Delegate for Francophonie and International Partnerships, explains:

    “This summit is a collective success for France and the international community, whose vigorous efforts have demonstrated their commitment to tackling the challenge of malnutrition. That is the strength of multilateralism: the ability to tackle challenges that know no boundaries. Malnutrition has a particularly harmful impact on young children and pregnant and breastfeeding women. We cannot look away when one out of every two children under the age of five dies from malnutrition. Proper nutrition is a challenge shared by all of our societies. It is the key to unlocking a shared, more prosperous future. This summit is not limited to financial investments; it also provides for innovative, effective investments that will have a lasting impact on development.”

    Ambitious political and financial commitments in support of nutrition

    The European Union in particular mobilized its efforts, committing a total of €6.5 billion to fight malnutrition, of which €3.4 billion was allocated by the European Commission.

    Other countries, including Madagascar, Côte d’Ivoire, Guatemala and Bangladesh also made noteworthy political and financial commitments to tackling the burden of malnutrition in their countries.

    The development banks also mobilized their efforts, particularly the World Bank and the African Development Bank, which pledged US$5 billion and US$9.5 billion respectively until 2030.

    Lastly, philanthropic organizations, civil society organizations and the private sector account for a substantial share of financial commitments. Philanthropic organizations will raise more than US$2 billion in the coming years to combat malnutrition.

    One of the Summit’s highlights was the adoption of a youth declaration calling for young people to play a greater role in decision-making in order to promote the voices of the communities most affected by malnutrition.

    Nutrition, a challenge at the heart of public policy and sustainable development

    Nutrition enables all individuals to achieve their full potential. But all countries are facing at least one type of malnutrition, whose cost to the global economy is estimated at US$41 trillion over the coming decade.

    In an uncertain international climate, the Summit helped refocus public policy on nutrition through ambitious commitments to transform the lives of millions of people worldwide. By investing in nutrition, stakeholders have opted to support policies that have a positive impact on health, social protections, gender equality, the sustainability of food systems, climate and education. Nutrition is a particularly effective choice because on average, each euro invested in this area creates 23 euros in wealth.

    MIL OSI Europe News –

    March 29, 2025

  • MIL-OSI China: Greenland announces new autonomous govt

    Source: China State Council Information Office

    Greenland announced the formation of a new autonomous government on Friday amid heightened tensions with the United States.

    Just hours before the arrival of U.S. Vice President JD Vance on the Arctic island, a ceremony was held at the Katuaq Cultural Center in the Greenlandic capital of Nuuk, where four political parties representing 23 of the 31 seats in the parliament signed a coalition agreement to form the new government.

    Jens-Frederik Nielsen, chairman of the Demokraatit (Democratic Party), will serve as the new prime minister.

    Following the announcement, Nielsen emphasized national unity in the face of international pressure. “By now forming a broad coalition, we will ensure that no one in the world should have any doubt that Greenland stands united,” he told journalists.

    He reiterated that Greenland is not for sale and has no desire to become part of the United States.

    The new cabinet includes former Prime Minister Mute Egede, who will now take on the role of minister of finance and taxation. Speaking to the media, Egede said: “We are obliged to lead our country forward with the pressure that is from the outside world right now, and the interest that is in our country.”

    Vivian Motzfeldt, incoming foreign minister of Greenland’s government, told Xinhua that mutual respect must be the basis for any diplomatic engagement. “I believe it’s also crucial for us to return to a more normal way of life, especially considering the recent developments in the United States,” she said.

    “A healthy dialogue requires mutual respect. If we want a meaningful conversation, we must also show respect for the other country. So, for me, it’s essential that we establish common ground based on mutual respect,” she added.

    Aqqalu Jerimiassen, chairman of the Atassut party, underscored the need for national unity in the light of recent provocations. “Right now, I believe the priority is unity – taking care of each other and building cooperation, rather than reacting to provocations, especially those coming from the United States, and particularly from that orange-haired man (U.S. President Donald Trump) who keeps trying to provoke us,” he told Xinhua.

    In Copenhagen, when Denmark’s King Frederik X was asked by local media TV2 to comment on the growing tensions between the United States, Denmark, and Greenland, he confirmed his love for Greenland, saying that “my connection to the Greenlandic people is intact.” He also stressed that “we live in a changed reality.”

    The announcement of the new coalition drew applause from local residents at the Katuaq center. “I hope the new government can speak out on behalf of the people of Greenland,” Aviaja Martinsen, a citizen of Nuuk, told Xinhua.

    Later that day, Vance and his wife Usha, together with U.S. National Security Adviser Mike Waltz and Energy Secretary Chris Wright, arrived in Greenland. Vance delivered a speech at a U.S. military base and received a security briefing on the Arctic situation from U.S. military officials at the Pituffik Space Base.

    The timing of Vance’s visit has raised eyebrows, following repeated assertions by Donald Trump that the United States wants to take over Greenland. Officials in both Nuuk and Copenhagen view the visit as provocative.

    At a Friday press briefing at the White House, Trump reiterated: “We are not talking about peace for the United States. We are talking about world peace. We are talking about international security. And if Denmark and the EU do not understand it, we must explain it to them.”

    Greenland, once a Danish colony, became an integral part of the Kingdom of Denmark in 1953. It was granted home rule in 1979, expanding its autonomy, though Denmark retains control over foreign affairs and defense.

    MIL OSI China News –

    March 29, 2025

  • MIL-OSI Economics: GlobalData finds companies across sectors posting jobs around Vertex AI

    Source: GlobalData

    Vertex AI is an advanced platform from Google Cloud that facilitates the work of data scientists and machine learning (ML) engineers by simplifying the process of training models and managing ML projects. The demand for AI-related positions has seen a significant growth, particularly in fields related to ML and generative AI (GenAI). Against this backdrop, companies across sectors are seen posting jobs related to Vertex AI, finds GlobalData, a leading data and analytics company.

    Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “As the demand for AI-driven solutions continues to surge, companies are prioritizing Vertex AI in specialized fields such as ML, data engineering, and AI ethics. This shift is reshaping hiring patterns, emphasizing candidates with specialized expertise in Vertex AI to drive their initiatives forward.”

    An analysis of GlobalData’s Job Analytics Database reveals an increase in job postings focused on Vertex AI across sectors including technology, retail, financial services, and pharma.

    Technology industry is focusing on initiatives such as designing, implementing, and deploying AI/ML solutions on the google cloud platform (GCP), particularly using vertex AI. Additionally, it involves leading product strategy for Gemini’s coding capabilities, developing no-code/low-code agent builders, and establishing quality standards while integrating third-party APIs.

    Technology companies are seeking to hire professionals with experience in building advanced analytics frameworks using tools like bigquery ML and tensorflow, as well as designing and maintaining data pipelines with GCP services such as dataflow and Vertex AI.

    Financial services industry is seeking to hire professionals with experience in AI/ML to design and implement secure, high-performing end-to-end data solutions for fintech initiatives that translates business problems in the financial domain into technical solutions that leverage machine learning. Firms are also focused on developing and testing AI models using Vertex AI and BQML to generate insights from both structured and unstructured data.

    Retail companies are looking at initiatives such as automating data jobs on GCP and utilizing services such as bigquery, dataflow, dataproc, apache airflow, and Vertex AI pipelines. This approach aims to establish a reliable and scalable data infrastructure for business consumption. Furthermore, it involves analyzing large-scale datasets and developing statistical models with Vertex AI to generate actionable insights that promote operational efficiency, revenue growth, and improved customer satisfaction.

    Pharma companies are exploring scalable generative AI solutions for various applications, including drug discovery, medical writing automation, clinical trials, regulatory submissions, and real-world evidence generation. Additionally, these companies are seeking experience in front-end API development using fastAPI and cloud AI services such as AWS Bedrock, Azure OpenAI, and google Vertex AI.

    Sriprada concludes: “As organizations continue to embed AI across core functions, the demand for professionals is set to rise. This trend underscores a broader industry pivot toward scalable, secure, and efficient AI deployment frameworks that accelerate innovation and competitive differentiation.”

    MIL OSI Economics –

    March 29, 2025

  • MIL-OSI China: Shanghai attracts more foreign financial firms

    Source: People’s Republic of China – State Council News

    The growing presence of more international industry leaders serves as a snapshot of Shanghai’s continued efforts to open up its financial market and bring its financial capacity to the next level.

    A new Memorandum of Understanding signed between the Shanghai municipal government and the City of London Corp on March 20, is the latest example. The MoU, valid until 2028, continues the financial cooperation that started between the two cities approximately four decades ago.

    Alderman Alastair King, Lord Mayor of the City of London, said at the signing ceremony that there is vast room for cooperation between the two cities especially in areas of digital finance, green finance and offshore renminbi.

    With its China operations registered in Shanghai’s Pudong New Area in March 2024, London-headquartered Aspect Capital believes that there are a lot of opportunities as Chinese people upgrade their wealth management needs and more financial innovations drive the ongoing technology advancement in China, according to Lin Han, general manager of Aspect Capital in China.

    As one of the 10 largest commodity trading adviser managers in the world, Aspect Capital now manages about $9 billion of assets.

    On Dec 13, Aspect Capital (China) Ltd completed its registration as a private fund manager with the Asset Management Association of China. The UK CTA manager was the only wholly foreign-owned PFM approved for registration throughout 2024.

    Rapid progress has been made ever since. Aspect China released its first PFM product in January and completed registration of two other products one month later. The company has also submitted its application to become a Qualified Domestic Limited Partner.

    Planning to step up investment in China, Aspect China will expand its local team, apply for more business qualifications and seek strategic cooperation with Chinese domestic financial service providers, said Lin.

    BNP Paribas Securities China’s office registered in Pudong was officially opened on March 19. With its application submitted to the China Securities Regulatory Commission, the country’s top securities watchdog, in April 2021, it obtained approval in April 2024, marking the fourth wholly foreign-owned securities brokerage to be registered in China.

    BNP Paribas Securities China’s businesses now include securities brokerage, securities proprietary trading, securities investment consulting and securities asset management.

    According to Guo Zhiyi, BNP Paribas Securities China’s CEO, this year marks the first that the company can truly extend its reach in China. By incorporating their experience and resources in the international market, the company will advance its cross-border and securities businesses in the country to provide diversified services to both local and offshore clients, he said.

    France’s AXA Global Reinsurance and Germany’s Hannover Re have also opened their Shanghai reinsurance centers in Pudong.

    With its operation set up in Lingang Special Area of China (Shanghai) Pilot Free Trade Zone, AXA can easily connect to the Shanghai International Reinsurance Exchange Ltd founded at the end of 2024, improving the efficiency of data flow and trading transparency, according to Xue Fei, general manager of AXA International Reinsurance (Shanghai) Co Ltd.

    Lujiazui, the core financial area of Pudong, has now gathered around 8,000 financial institutions. Approximately 80 percent of China’s foreign asset managers and 40 percent of the country’s foreign banks have set up operations in Lujiazui.

    According to the Municipal Government Work Report released at the beginning of the year, Shanghai will improve its capacity as an international financial center this year by optimizing its mechanisms, enriching its financial services and expanding product supply. The wider application of e-CNY, further facilitating cross-border financial services, optimizing RMB offshore trading, cross-border trade settlement and overseas financing will be the major focuses, said the work report.

    MIL OSI China News –

    March 29, 2025

  • MIL-OSI China: White paper highlights historic human rights progress in Xizang

    Source: People’s Republic of China – State Council News

    LHASA, March 28 — All-round and historic progress has been made in the human rights cause in China’s Xizang Autonomous Region, according to a white paper released on Friday.

    The document, titled “Human Rights in Xizang in the New Era,” was released by the State Council Information Office at a press conference held in Lhasa, capital city of the region.

    The Communist Party of China (CPC) and the Chinese government have implemented effective measures to develop the economy, improve living standards and people’s well-being, promote ethnic unity and progress, and protect the basic rights of all the people in the region, it said.

    The year 2025 marks the 60th founding anniversary of Xizang Autonomous Region. Reflecting on the development of human rights in the region over the past six decades, especially since the 18th CPC National Congress in 2012, Gama Cedain, chairman of the regional government, said on Friday that the Party’s leadership has provided a fundamental guarantee for lasting stability and high-quality development in the region.

    He noted at the press conference that people of all ethnic groups in Xizang have made historic achievements in their rights to subsistence and development.

    The white paper expounded in detail on remarkable human rights progress in Xizang in fields such as whole-process people’s democracy, the protection of economic and social rights, cultural rights and environmental rights, effective safeguards for the freedom of religious belief, equal protection of the rights of specific groups, and steady improvement in the legal protection of human rights.

    The document showed that by the end of 2019, all 628,000 registered impoverished people in the region had been lifted out of poverty, and in 2024, the per capita net income of those lifted out of poverty in Xizang increased by over 12.5 percent.

    The region’s road length had nearly doubled in 12 years and every town or township is covered by the 5G wireless network, with 2.14 million 5G mobile phone users, or 60.5 percent of the total in the region. The average life expectancy in Xizang rose from 68.17 years in 2010 to 72.19 years in 2020, according to the document.

    Respecting and protecting human rights has been made an important part of the Party Central Committee’s guidelines for the governance of the region, it said.

    The CPC has maintained a people-centered approach to human rights and a commitment to ensuring human rights through development, and has vigorously promoted whole-process people’s democracy, it said.

    The Party has strengthened legal protection of human rights, and coordinated efforts to increase people’s civil and political rights as well as economic, social and cultural rights, to achieve well-rounded development and common prosperity for all people from all ethnic groups, according to the white paper.

    Today, Xizang enjoys political stability, ethnic unity, economic development, social harmony, and amity among different religions, the document said.

    Its environment is sound, and local people are content with their work and daily lives. This progress represents a remarkable achievement in protecting human rights on the snowy plateau, it said.

    The white paper pointed out that over the years, lies about the “worsening human rights situation” in Xizang were spread outside China with ulterior political motives and the goal to destabilize Xizang and separate it from China.

    The human rights progress in Xizang will not be undermined or wiped out by lies, nor will the advancements being made in the new era by the people of all ethnic groups in the region be halted by deceit, it said.

    MIL OSI China News –

    March 29, 2025

  • MIL-OSI USA: SBA Offers Relief to Oklahoma Businesses, Nonprofits and Residents Affected by November Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to Oklahoma businesses, nonprofits and residents affected by the severe storms, straight-line winds, tornadoes and flooding occurring Nov. 2‑3, 2024. The SBA issued an administrative disaster declaration on March 27, 2025.

    The disaster declaration covers the counties of Canadian, Cleveland, Kingfisher, Lincoln, Logan, Oklahoma and Pottawatomie.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP) organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Beginning Tuesday, April 1, customer service representatives will be on hand at a Disaster Loan Outreach Center (DLOC) to answer questions about the SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.

    “When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”

    The DLOC hours of operations are listed below.

    OKLAHOMA COUNTY
    Disaster Loan Outreach Center
    Harrah Church
    101 Dobbs Rd.
    Harrah, OK  73045

    Opens 11 a.m. Tuesday, April 1

    Mondays – Fridays, 9 a.m. – 6 p.m.

    Interest rates are as low as 4% for small businesses, 3.625% for nonprofits and 2.563% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to apply for property damage is May 27. The deadline to apply for economic injury is Dec. 29.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration makes the American dream of business ownership a reality. 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 or 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 –

    March 29, 2025

  • MIL-OSI USA: SBA Business Recovery Center in Santa Monica to Relocate

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the relocation of its Santa Monica Business Recovery Center (BRC) from the Santa Monica Chamber of Commerce to the Santa Monica Public Library, beginning Tuesday, April 1, at 10 a.m.

    SBA opened the BRC to provide personalized assistance to Santa Monica businesses affected by the wildfires beginning Jan. 7.

    “SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “Business owners can visit these centers to meet face-to-face with specialists who will guide them through the disaster loan application process and connect them with resources to support their recovery.”

    Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov. The Santa Monica Chamber of Commerce BRC will close Monday, March 31. The Santa Monica Public Library BRC will open Tuesday, April 1, with locations and hours of operation as indicated below.

    LOS ANGELES COUNTY
    Business Recovery Center
    Santa Monica Chamber of Commerce
    2525 Main St., Ste. 103
    Santa Monica, CA  90405

    Closes 5 p.m. Monday, March 31
    Monday, 9 a.m. – 5 p.m.

    LOS ANGELES COUNTY
    Business Recovery Center
    Santa Monica Public Library
    Courtyard Café
    601 Santa Monica Blvd.
    Santa Monica, CA  90401

    Opens 10 a.m. Tuesday, April 1
    Mondays – Wednesdays, 10 a.m. – 6 p.m.

    Businesses and PNPs are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP)organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Interest rates are as low as 4% for small businesses, 3.625% for nonprofits, and 2.563% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    Applicants may call the SBA’s Customer Service Center at (800) 659-2955 or send an email to disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition. Do not wait on the decision for a FEMA grant; apply online and receive additional disaster assistance information at sba.gov/disaster.

    The deadline to return physical damage applications is Mar. 31. The deadline to return economic injury applications is Oct. 8.

    ###

    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 –

    March 29, 2025

  • MIL-OSI USA: Cornyn Calls on FIFA to Take Steps to Prevent Human Trafficking at the World Cup

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    WASHINGTON – Today, U.S. Senator John Cornyn (R-TX) and 16 of his Senate colleagues sent a letter to officials at the Fédération Internationale de Football Association (FIFA) urging the organization to ensure they are working to prevent human trafficking before, during, and after the 2026 World Cup and requesting that FIFA share information about the steps it is taking to keep people safe in host cities, including Dallas and Houston, and what resources they are providing to help support communities across the continent.

    “The FIFA World Cup is considered the world’s largest sporting event and is expected to bring millions of fans to the United States,” wrote the senators.

    “We respectfully request information about the comprehensive efforts FIFA is taking to support the Host City Committees in combatting human trafficking in host cities, states and across the continent, in addition to any financial commitments you are providing to Host Cities, local or national organizations and any education and training you are providing to your teams, players, and staff on the issue,” they continued.

    “We also request information about any efforts you are making with local and federal law enforcement and non-profits in advance of, during, and after the World Cup to support anti-trafficking and survivor assistance initiatives,” the lawmakers continued.

    You can read the full letter here.

    MIL OSI USA News –

    March 29, 2025

  • MIL-OSI USA: SBA Offers Relief to New Mexico Small Businesses and Private Nonprofits Affected by November Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in New Mexico who sustained economic losses caused by the drought beginning Nov. 1, 2024.

    The disaster declaration covers the counties of Catron, Cibola, Chaves, De Baca, Doña Ana, Eddy, Grant, Guadalupe, Hidalgo, Lea, Lincoln, Luna, Otero, Roosevelt, Sierra, Socorro and Torrance in New Mexico, as well as Apache, Cochise and Greenlee counties in Arizona, and Andrews, Cochran, Culberson, El Paso, Gaines, Hudspeth, Loving, Reeves, Winkler and Yoakum counties in Texas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    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 –

    March 29, 2025

  • MIL-OSI USA: SBA Offers Relief to Arkansas Small Businesses and Private Nonprofits Affected by Fall Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Arkansas who sustained economic losses due to the drought beginning Nov. 1, 2024.

    The disaster declaration covers the counties of Ashley, Benton, Boone, Bradley, Calhoun, Carroll, Clark, Cleveland, Columbia, Crawford, Dallas, Franklin, Garland, Hempstead, Hot Spring, Howard, Johnson, Lafayette, Little River, Logan, Madison, Marion, Montgomery, Nevada, Newton, Ouachita, Pike, Polk, Pope, Scott, Searcy, Sebastian, Sevier, Union, Washington and Yell in Arkansas, as well as the parishes of Claiborne, Morehouse, Union and Webster in Louisiana; Barry, McDonald, Stone and Taney counties in Missouri, and Adair, Delaware, Le Flore and McCurtain counties in Oklahoma.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    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 –

    March 29, 2025

  • MIL-OSI USA: SBA Offers Relief to Wyoming Small Businesses and Private Nonprofits Affected by January Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Wyoming who sustained economic losses caused by the drought beginning Jan. 1.

    The declaration covers the counties of Albany, Big Horn, Carbon, Converse, Fremont, Hot Springs, Johnson, Laramie, Lincoln, Natrona, Park, Platte, Sheridan, Sublette, Sweetwater, Teton, Uinta and Washakie in Wyoming, as well as Jackson, Larimer, Moffat and Routt counties in Colorado, Bear Lake, Bonneville and Caribou counties in Idaho, Big Horn, Carbon, Gallatin and Park counties in Montana, and Rich County in Utah.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    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 –

    March 29, 2025

  • MIL-OSI USA: SBA Offers Relief to Oklahoma Small Businesses and Private Nonprofits Affected by November Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Oklahoma who sustained economic losses caused by the drought beginning Nov. 15, 2024.

    The disaster declaration covers the counties of Garfield, Grant, Kay, Noble and Osage in Oklahoma, as well as Cowley and Sumner counties in Kansas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    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 –

    March 29, 2025

  • MIL-OSI USA: SBA Offers Relief to Missouri Small Businesses and Private Nonprofits Affected by November Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Missouri who sustained economic losses caused by the drought beginning Nov. 1, 2024.

    The disaster declaration covers the counties of Barry, Bates, Benton, Boone, Callaway, Camden, Cass, Cedar, Christian, Cole, Cooper, Dade, Dallas, Douglas, Gasconade, Greene, Henry, Hickory, Jasper, Johnson, Laclede, Lawrence, Maries, Miller, Moniteau, Morgan, Newton, Osage, Pettis, Phelps, Polk, Pulaski, St. Clair, Stone, Vernon, Webster and Wright in Missouri, as well as Linn and Miami counties in Kansas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    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 –

    March 29, 2025

  • MIL-OSI USA: Transcript: Governor Hochul is a Guest on ‘Politics Unusual’

    Source: US State of New York

    arlier today, Governor Kathy Hochul was a guest on WNYW-TV’s “Politics Unusual.”

    AUDIO: The Governor’s remarks are available in audio form here.

    A rush transcript of the Governor’s remarks is available below:

    Morgan McKay, WNYW-TV: We are just days away from when the New York State Budget is due, but negotiations hit their first major roadblock on Thursday. Most lawmakers went home for the weekend and won’t be back in Albany until Tuesday. But not everyone went home and negotiations are continuing up in Albany, which is why my first guest, Governor Kathy Hochul, is joining us remotely today from Albany.

    Governor, thank you so much for being here. I knew you’d wanted to be here in person but thank you for finding the time for this interview.

    Governor Hochul: Thanks, Morgan, and congratulations on your new show. I think it’s going to provide an important public service so you can help them dissect the issues of the day, so thank you.

    Morgan McKay, WNYW-TV: Thank you so much, Governor. So, for our viewers, how Budget negotiations work: The Governor, Senate Majority Leader and Assembly Speaker, you’re all locked in a room for the most part, negotiating, hashing out that Budget. And it used to be called three men in a room, but now it’s two women and one man in a room. So the big question, will there be a Budget by April 1, or are you guys going to need to pass a Budget extender?

    Governor Hochul: Morgan, at this point, we’re still in deep conversations. There is a rhythm. You’re a real veteran of Albany, you know that it starts out with a flurry. We have a lot of intense meetings with leaders. We have a chance to share our top priorities, as I have done.

    We know public safety is number one. Getting these discovery law changes so cases aren’t thrown out is an important part of my agenda. Also, making sure that we deal with people who have severe mental illness, who can’t take care of themselves, who are on the streets of New York or in the subway. And also my affordability agenda and cell phones.

    So I have a chance early on to present my vision, and then the legislators have to take it back to their conferences. So when there’s a lull, which is very much part of the rhythm, it’s usually because they have to go back and maybe fine-tune some language or they have to talk to their conferences. So this is not unusual. This is my fourth Budget and we may or may not make April 1.

    But the truth is, I’ve been successful in achieving the goals I set out to do, and that’s what I’m focusing on right now, delivering for the people of this great state.

    Morgan McKay, WNYW-TV: Exactly. And one of these sayings up in Albany is, a deal has to come together and fall apart at least three times before you guys make a final Budget deal.

    But I’m hearing that one of the sticking points in this Budget is that involuntary removal language. Now, where do you guys stand exactly on this issue and getting those struggling with mental illness off the streets and into long-term care? I’m hearing some of the concerns are that they’re going to be back out onto the streets. How do you stop that revolving door?

    Governor Hochul: Well, that’s what’s happening right now, Morgan. They are being — sometimes off the streets because they’re in the throes of a severe mental health crisis. They could do harm to other people or themselves. But we’re also saying, in a case where someone clearly cannot take care of themselves, they’re not being fed properly, their clothes are not clean and they’re just unfortunately sliding into this place which is really inhumane.

    And when we see that, it is heartbreaking. These are God’s children as well. They deserve better than that. And if they don’t have the mental capacity to make decisions, then we have a moral responsibility to get them help.

    What that means is go to a hospital, be seen by two psychiatric experts and make a decision, should they be confined to the hospital. Not a jail. Not a jail. We’re talking about confined to a hospital in a nurturing, supportive environment and getting them on a path to recovery. And why that is so complicated, I’m not sure, because it’s common sense. It recognizes the dignity of every human life, but also takes away the anxiety that people have when they see these individuals because there have been cases where there have been violent acts and it’s unsettling for people on the subway in the streets.

    So we’re trying to get to language that is in place in 43 other states. So I don’t know why this is so challenging, but I’m very committed to getting this done.

    Morgan McKay, WNYW-TV: Now, Governor, earlier this year, you proposed guardrails on Mayor Eric Adams after there were allegations that he was cooperating with the federal government to get his criminal charges dropped. Do you think those guardrails will be in the budget?

    Governor Hochul: No. They have to go to the City Council first. We knew there was a process that said they have to make the changes and ask for a home rule change from the Legislature.

    So again, I was creating options for people in the city who were very concerned about that dynamic that was unfolding; is there undue pressure on the Mayor or not? I thought that we put in some guardrails related to legal decisions and investigations and the budget. Just some ways that we can keep an eye on the situation and give people that sense of confidence, which I thought would be helpful to the Mayor and the city getting stabilized. And if the City Council doesn’t want to do it, then they must be fine with the status quo. I was just reaching out a hand to help out and it’s up to the people in the City Council to decide whether to send it to the Legislature.

    Morgan McKay, WNYW-TV: Yeah, and Adams just recently appointed as First Deputy Mayor, Randy Mastro. He was leading a lawsuit against New York with New Jersey against congestion pricing, and he did back away from representing New Jersey in his lawsuits after he became First Deputy Mayor, but he is still representing Madison Square Garden and James Dolan, what’s your take on this?

    Governor Hochul: Well, I’ll tell you, we won rather handily against him in the congestion pricing lawsuit because they had nothing to stand on. And they actually ended up in a worse place than we were willing to do for them. So I’ll just put that as the aside.

    We are going to continue fighting for congestion pricing because it is working and many naysayers and people who said, “Never, never, never,” are saying, “Eh, it’s actually working.”

    It’s up to the Mayor who he selects to have around him. I hope he’ll pick people that inspire confidence. But again, my job is to work with the Mayor because I also represent 8.3 million New York City residents.

    Morgan McKay, WNYW-TV: Transportation Secretary Sean Duffy this week has been threatening to cut off federal funding to the MTA if there’s not some sort of subway safety plan.

    In fact he said, and we’re going to play this sound by, I know you can’t see it Governor, but we’re going to play it here. And then we’re going to give you a chance to respond. Go ahead.

    Transportation Secretary Sean Duffy: If you want people to take the train, take transit, then make it safe. Make it clean, make it beautiful, make it wonderful.

    Morgan McKay, WNYW-TV: Now they’re saying that if the State doesn’t give them a subway safety plan that they’re going to cut this funding. What’s your response?

    Governor Hochul: We have given them a subway safety plan. Something I unveiled three years ago. Which as you can see with the crime rates being 50 percent lower than they were back when Rudy Giuliani was the Mayor, “Mr. Tough on Crime,” 50 percent lower than that time, 25 percent lower than last year.

    I’m never going to be satisfied with the rate of subway crimes on the subway in our city. No one is ever satisfied as long as there’s even one. But you cannot argue with the fact that my cops plan, I’m funding — State is paying for overtime for police officers, two on every train starting at nine o’clock at night. That has calmed the situation down dramatically. I wanted to make that investment. That’s important. We now have cameras on every single train. I focused on this intently and got it done. We’re also putting up barriers in the subways so people are nervous about being pushed into the tracks. We’ve had some horrific cases.

    They will feel safer behind these barriers as well as continue to collect fares. Fair evasion is down 25 percent, but I’m not done. So I’m happy to work with the Secretary and show him what we’re doing and if he has other ideas on how to do that, we’ll be happy to take assistance from the federal government because they have a vested interest in the success of our subway system as well, because as goes New York City’s economy, so goes the nation.

    And I’ll work with him. He can call it anything he wants, but I know that people in the city rely on the subway and it is safer. It’s not where we want it to go yet, but it is safer than it was. But also he says people won’t take the subway. It’s up 10 percent since January, so people are taking the subway.

    Morgan McKay, WNYW-TV: Thank you so much, Governor, and we have one last question for you here. We reached out to our TikTok viewers and asked them if they wanted to ask you a question, which we’re going to put up here. And this is from Joey Lorenza – with opening day being yesterday, who is the Governor rooting for this baseball season?

    Governor Hochul: All right, here’s how I have to do this. I was raised as a Yankee fan, okay? In Western New York, the closest team of the Toronto Blue Jays, clearly we’re not going for a Canadian team. So there’s a lot of love for the Yankees. I watched them closely when I was in college. I knew all the players, watched them intensely, but I’m also from Buffalo and I have this affinity for the underdog, which the Mets historically had been.

    So I love when an underdog that’s trying to — really scrappy and trying hard. So I say, I want to see the Mets do it because the Yankees got really far last year and I’d like to see the Mets go that far this year. So there you have it. It’ll get me in trouble with half the population, but I will always be willing to take a position on something that’s as important as baseball.

    Morgan McKay, WNYW-TV: Thank you again so much, Governor, for taking the time. I also have my split allegiance between the two teams. Thank you for being here, even if it is virtually. I really appreciate it.

    Governor Hochul: Alright, thanks Morgan. Good luck with the show.

    MIL OSI USA News –

    March 29, 2025

  • MIL-OSI USA: Murray, Nadler, Scott, Stansbury, and Leger Fernandez Condemn Unlawful Dismissal of EEOC Commissioners, Demand Immediate Reinstatement

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, joined Representative Jerrold Nadler (D-NY), Committee on Education & Workforce Ranking Member Bobby Scott (D-VA), Representative Melanie Stansbury (D-NM), and Democratic Women’s Caucus Chair Teresa Leger Fernández (D-NM) in leading 236 Senate and House colleagues in a letter to President Donald Trump in response to his unprecedented and unlawful dismissal of Equal Opportunity Employment Commission (EEOC) Commissioners Charlotte Burrows and Jocelyn Samuels.
    “We write to express our outrage at your unprecedented dismissal of Commissioners Charlotte Burrows and Jocelyn Samuels of the bipartisan U.S. Equal Employment Opportunity Commission,” the Members wrote. “This unlawful abuse of presidential power undermines the EEOC’s historic independence, harms U.S. workers, and unduly politicizes the Commission’s work. It also impedes the Commission’s ability to fully carry out its critical mission on behalf of the American people. We urge you to swiftly reinstate Commissioners Burrows and Samuels.”
    The EEOC was established in 1964 with strong bipartisan support to serve as an independent, multi-member body tasked with preventing and addressing employment discrimination. It is the primary federal law enforcement agency responsible for ensuring that workers are protected against discrimination on the basis of race, color, religion, sex (including pregnancy, childbirth, gender identity, and sexual orientation), national origin, age, disability, and genetic information. Workers rely on the EEOC to be a fair and independent body—not one subject to the shifting political whims of the executive branch.
    Both Commissioner Burrows and Commissioner Samuels had been confirmed by bipartisan votes of the Senate prior to the start of their terms, with Commissioner Burrows’ term not set to expire until July 2028 and Commissioner Samuels term not set to expire until July 2026.
    The Members highlighted the massive return on investment the EEOC delivers for the American people, writing: “From 2014-2024, the EEOC recovered $5.6 billion for workers who were discriminated against under these laws, significantly more than the agency’s appropriations during that time period. For FY 2024, the EEOC secured a record $700 million for workers who experienced discrimination. The EEOC’s role in enforcing these protections is essential to ensuring that all workers have a fair chance to obtain employment, provide for their families, and contribute to our economy.”
    The Members made clear the illegal firing by President Trump is an intrusion into Congress’ constitutional authority, stating, “The Administration’s firing of Commissioner Burrows and Commissioner Samuels is unprecedented and an intrusion into Congress’ Article I constitutional authority. The appointment of EEOC Commissioners is governed by statute and is designed to ensure the agency’s independence from the executive.  The President appoints Commissioners and the Senate confirms them. That is the beginning and end of the executive’s role in determining who can sit on the Commission and for how long. The law not only expressly requires the Commission to be bipartisan, but it also sets out five-year terms, a design that ensures that Commissioners’ terms run between presidential terms, another purposeful action by Congress to ensure the Commission’s independence.”
    “Longstanding Supreme Court precedent also confirms that multi-member independent commissions such as the EEOC enjoy protection from ‘coercive influence’ of the executive. In Humphrey’s Executor v. United States, 295 U.S. 602 (1935), the Supreme Court made clear that members of independent commissions like the EEOC cannot be removed at will by the President. Prior Presidents have agreed; no Commissioner of the EEOC has ever been removed prior to the expiration of their term in the Commission’s 60-year history.”
    “Workers deserve to earn a living free from discrimination and feel confident that when they are harmed, they can count on an independent EEOC, not a politicized body, to protect their rights,” the Members concluded. “We urge you to reinstate Commissioner Burrows and Commissioner Samuels, and we look forward to your urgent response.”
    The full letter can be read HERE and the list of signatories is HERE.
    The letter is endorsed by: A Better Balance, American Civil Liberties Union, the Human Rights Campaign, the Leadership Conference on Civil and Human Rights, National Employment Law Project, National Partnership for Women & Families, and the National Women’s Law Center.
    WHAT THEY ARE SAYING:  
    “Since its establishment 60 years ago as part of the landmark Civil Rights Act of 1964, the EEOC has protected the rights of workers to earn a living free from discrimination. President Trump’s illegal and unprecedented dismissal of Commissioners Charlotte Burrows and Jocelyn Samuels critically impairs the EEOC’s ability to ensure that individuals aren’t denied jobs and opportunities because of who they are.  We condemn the administration’s flagrant politicization of an independent, nonpartisan civil rights agency and join members of Congress calling for the reinstatement of the commissioners without delay,” said Mike Zamore, National Director of Policy and Government Affairs of the American Civil Liberties Union.
    “People rely on the EEOC to be an independent, fair body that will protect their right to be free from discrimination in their workplace,” said Gaylynn Burroughs, Vice President for Education and Workplace Justice at the National Women’s Law Center. “President Trump’s removal of EEOC Commissioners Burrows and Samuels is just another extension of his authoritarian power grab that will ultimately harm workers. His actions are a clear abuse of power intended to bend the Commission to his will, but the Commission works for all working people, not for President Trump. The EEOC was born out of the civil rights movement to help ensure equal employment opportunity for all workers. We will continue to fight to preserve the integrity of the Commission, for equal opportunity, and for the right of all workers to be free from discrimination.”
    “We condemn the administration’s unlawful attempt to fire sitting EEOC commissioners. This reckless decision is already having devastating consequences for workers waiting for the agency to take legal action against employers engaged in discrimination and severe ramifications for the agency’s ability to function effectively and enforce labor and civil rights protections,” said Jocelyn C. Frye, President of the National Partnership for Women & Families. “Workers who are depending on the EEOC to do its job should not have to endure discrimination because of political stunts intended to undermine civil rights enforcement. By making it virtually impossible for the Commission to take important actions, because it lacks a quorum, the administration is effectively circumventing robust enforcement of statutory anti-discrimination protections that workers depend on every day. President Trump must reinstate the commissioners he fired to rectify this situation. We commend Congressman Jerry Nadler and Senator Patty Murray, and all the members of Congress who join us in this fight, for standing up to safeguard the rights and the freedoms of all workers so that they are treated fairly in workplaces that are free of discrimination.”
    “The Equal Employment Opportunity Commission’s role in ensuring equitable workplaces and enforcing our nation’s laws against discrimination is vital. It is an outrage that the Trump Administration has gutted the agency by illegally firing key EEOC Commissioners who have tirelessly championed robust enforcement of important workplace laws like the Pregnant Workers Fairness Act, the Americans with Disabilities Act, and Title VII of the Civil Right Act. This is an overstep of the President’s authority that will hamstring the agency’s ability to carry out its mission. We thank Congressman Nadler, Senator Murray, Ranking Member Scott, Congresswoman Stansbury, and Congresswoman Leger Fernández for their leadership in defending the EEOC,” said Inimai Chettiar, President of A Better Balance. 
    “President Trump’s removal of Commissioners Burrows and Samuels was an outrageous attack on civil rights and the rule of law – one of many actions taken by the president in pursuit of his goal to further entrench inequality and occupational segregation. The EEOC’s independence and bipartisan structure was established by Congress in the Civil Rights Act of 1964 and is essential to its mission to promote equal opportunity in the workplace. This lawlessness and disregard for our Constitution cannot stand,” said Josh Boxerman, Government Affairs Manager, National Employment Law Project.

    MIL OSI USA News –

    March 29, 2025

  • MIL-OSI USA: Murphy, Blumenthal, DeLauro, Larson Demand Reinstatement Of Terminated NOAA Employees

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    March 28, 2025

    HARTFORD—U.S. Senators Chris Murphy (D-Conn.) and Richard Blumenthal (D-Conn.) on Friday joined U.S. Representatives John Larson (D-Conn.-01) and Rosa DeLauro (D-Conn.-03) in sending a letter to U.S. Department of Commerce Secretary Howard Lutnick demanding the reinstatement of over 800 National Oceanic and Atmospheric Administration (NOAA) employees who were terminated. The letter coincides with Coasts Week, observed the week of March 24th to highlight the critical importance of the nation’s shores and coastal waterways to community resilience and the economy.
    In Connecticut, employees at the Milford Laboratory, part of the National Marine Fishery Service (NMFS) Northeast Fisheries Science Center, were among those who were fired by the mass terminations at NOAA.
    “Mass firings, office closures, and the threat of budget cuts severely undermine NOAA’s work to share weather and climate forecasts, facilitate restoration and resiliency projects, and sustainably manage our ocean’s resources – especially in Connecticut,” the lawmakers wrote. “These attacks on NOAA are dangerous to human health and safety and economically nonsensical. Simply put, NOAA saves lives and taxpayer money.”
    Between 2021 and 2024, NOAA supported 15 projects across Connecticut to help bolster our $6.5 billion marine economy that 3,189 businesses and 61,385 employees rely on.
    “As a coastal state, Connecticut communities benefit greatly from a strong and fully staffed NOAA. Our state is directly threatened by rapid sea level rise, and has seen firsthand the impacts of severe storms on our coasts.  In 2012, Superstorm Sandy killed four Connecticut residents and cost over $350 million to recover from,” the lawmakers continued.
    “These indiscriminate firings are devastating to NOAA – to the critical work the agency does to protect our communities and to the dedicated employees themselves who have devoted their careers to public service. We demand that you immediately reinstate these federal workers and stop any action that undermines NOAA’s critical mission for the benefit of Connecticut, the national economy, and the planet,” they concluded.
    Full text of the letter is available HERE and below.
    Dear Secretary Lutnick,
    We write to express our deep outrage over the potentially illegal termination of over 800 National Oceanic and Atmospheric Administration (NOAA) employees and to call for their immediate reinstatement. Mass firings, office closures, and the threat of budget cuts severely undermine NOAA’s work to share weather and climate forecasts, facilitate restoration and resiliency projects, and sustainably manage our ocean’s resources – especially in Connecticut.
    These attacks on NOAA are dangerous to human health and safety and economically nonsensical. Simply put, NOAA saves lives and taxpayer money. The agency’s work informs severe storm warnings so people can prepare for natural disasters like tornados, flash floods, hurricanes, and wildfires. In the longer term, NOAA’s weather and climate data helps communities take action to reduce damage from extreme weather events. These resiliency measures drastically cut the cost of disaster recovery projects, reducing the burden on agencies like the Federal Emergency Management Agency and, ultimately, taxpayers.
    Between 2021 and 2024, NOAA supported 15 projects across Connecticut to help bolster our $6.5 billion marine economy that 3,189 businesses and 61,385 employees rely on. These projects advanced coastal resilience efforts to better prepare for severe storms, as well as habitat restoration and conservation initiatives to protect the bedrock of our seafood industry. Dismantling NOAA’s workforce puts this support in jeopardy.
    NOAA safeguards coastal resources and supports industries in coastal communities that inject $10 trillion annually into the U.S. economy. As a coastal state, Connecticut communities benefit greatly from a strong and fully staffed NOAA. Our state is directly threatened by rapid sea level rise, and has seen firsthand the impacts of severe storms on our coasts. In 2012, Superstorm Sandy killed four Connecticut residents and cost over $350 million to recover from. NOAA’s coastal resiliency projects work to mitigate that risk. In short, eliminating NOAA employees endangers the people of Connecticut, our businesses, and our critical infrastructure.
    We understand that mass terminations at NOAA have directly impacted employees in Connecticut, with staff at the Milford Laboratory, part of the National Marine Fishery Service (NMFS) Northeast Fisheries Science Center, among those who were fired. This is bad news for our state and the country. Focusing on aquaculture projects, NOAA staff at the Milford Lab were working on cutting-edge research to maintain the sustainability and economic viability of the U.S. seafood industry. Unjustly firing experienced employees decimates the institutional knowledge necessary to best carry out that work. In 2022, NMFS helped support 2.3 million fisheries jobs that generated $321 billion in sales. These job cuts will hurt commercial and recreational fishers, shellfish growers, and everyone down the supply chain whose livelihoods are tied to a healthy ocean. Further, a less effective and efficient domestic seafood industry will result in American consumers relying more heavily on imported sources of seafood.
    These indiscriminate firings are devastating to NOAA – to the critical work the agency does to protect our communities and to the dedicated employees themselves who have devoted their careers to public service. We demand that you immediately reinstate these federal workers and stop any action that undermines NOAA’s critical mission for the benefit of Connecticut, the national economy, and the planet.
    Sincerely,

    MIL OSI USA News –

    March 29, 2025

  • MIL-OSI: WiseChain.io Unveils AI-Powered Social Trading and Tailored Investment Solutions for Canadians and Seniors

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, March 28, 2025 (GLOBE NEWSWIRE) — WiseChain.io, a global leader in next-generation trading technology, announces the launch of its cutting-edge AI-driven social trading platform, now available exclusively to its elite clients. This breakthrough solution enables users to mirror strategies of top-performing traders through advanced, automated bots — delivering precision, speed, and real-time adaptability.

    By integrating automation with artificial intelligence, WiseChain.io redefines the modern investing experience. The platform is ideal for both beginners and professionals, empowering users to benefit from expert-level trading without needing deep financial expertise.

    A Trusted Partner for Canadian Investors

    For Canadian clients, WiseChain.io offers a secure, fully compliant platform that operates under strict international standards. With rigorous KYC and AML protocols, segregated fund storage, and end-to-end encryption, users can trade confidently in a transparent and legally sound environment. Bilingual support in English and French, combined with access to a broad range of markets — including forex, crypto, stocks, commodities, and ETFs — positions WiseChain.io as a top choice for Canadian investors.

    Empowering Seniors Toward Financial Independence

    Understanding the needs of older investors, WiseChain.io also provides a user-friendly and low-risk environment tailored to individuals over 50. With step-by-step guidance, flexible strategies, and minimal commissions, seniors can easily manage their savings, build passive income, and secure a more comfortable retirement — even without prior trading experience.

    Thousands of users have already embraced WiseChain.io as their partner in financial growth, thanks to its intuitive design, 24/7 customer support, and clear educational resources.

    Discover the Future of Smart Investing

    Whether you’re a high-net-worth trader, a cautious retiree, or a Canadian investor looking for a reliable platform, WiseChain.io offers the tools, technology, and transparency to help you succeed.

    Visit wisechain.io to start your journey toward smarter, safer investing.

    Social Links

    Media Contact

    Brand: WiseChain

    Contact: media team

    Email: support@wisechain.io

    Website: https://wisechain.io

    The MIL Network –

    March 29, 2025

  • MIL-OSI United Kingdom: UK firm to land Europe’s first rover on Mars

    Source: United Kingdom – Government Statements

    Press release

    UK firm to land Europe’s first rover on Mars

    A UK aerospace company is set to land the first European rover on the red planet, as it wins £150 million to complete the touchdown system delivering the rover safely to Mars.

    Airbus wins contract to land Europe’s first rover on Mars.

    • Airbus UK wins European contract to engineer landing platform that will safely deliver rover on Mars.   
    • First British-built rover will explore the red planet in 2030 for signs of present and past life on Mars.  
    • Contract set to support around 200 high-skilled jobs and boost growth, supercharging Prime Minister’s Plan for Change.

    The new contract, awarded by the European Space Agency and funded by the government through the UK Space Agency, will support a cutting-edge system that will land the Rosalind Franklin rover on the surface of Mars and support its deployment onto the planet.  It will also sustain around 200 high-skilled jobs in the UK space sector and attract international investment, leading to wider growth in the UK economy as part of the Prime Minister’s Plan for Change.

    The first UK-built rover’s mission is to explore the red planet and drill 2 metres down into the surface to hunt for signs of ancient life, such as fossilised microbes, in an effort to find out how our solar system came to be. Exploring Mars is crucial to further our knowledge in climate shifts and may help answer whether life exists beyond our home planet. 

    The mission is made possible by advanced UK robotics and autonomous navigation technologies, which can also be deployed in challenging environments on Earth, such as nuclear power plants and the deep ocean.   

    Named Rosalind Franklin after the British scientist whose work was central to the understanding of the molecular structures of DNA, the rover will be the first European made rover to land on Mars.  

    Britian’s growing space sector is helping to bring jobs and growth to communities and organisations across the UK, with 50,000 people already employed in the sector. It will be a top priority in the government’s Industrial Strategy, which has identified advanced manufacturing and digital and technologies as key growth-driving sectors.

    Technology Secretary Peter Kyle said:  

    This inspiring example of world-class British science will bring us one step closer to answering long-asked questions on potential life on Mars.

    Landing the first ever home-grown rover on Mars, Airbus will not only help Britain make history and lead the European space race but also bring hundreds of highly skilled jobs and investment as we secure Britain’s future through our Plan for Change.

    The rover, entirely built in Stevenage by engineers from Airbus UK, is due to launch in 2028 with the support of NASA and land on Mars in 2030. It was ready to launch in 2022, until the European Space Agency (ESA) cancelled its cooperation with Russia following the illegal invasion of Ukraine.   

    The rover, entirely built in Stevenage by engineers from Airbus UK, is due to launch in 2028 with the support of NASA and land on Mars in 2030. It was ready to launch in 2022, until the European Space Agency cancelled its cooperation with Russia following the illegal invasion of Ukraine.   

    The UK Space Agency and international partners stepped up to replace Russian components in the mission, including the lander platform now under development in Stevenage and a key science instrument now led by Aberystwyth University.  

    Dame Dr Maggie Aderin-Pocock DBE said:

    The British built Rosalind Franklin rover will give us vital insight into the history of Mars. This type of information from other planets can give us a better understanding of our own place in space and our planetary evolution.

    With its unique design that enables it to acquire samples at depth of up to 2 metres, we may get answers to some of the fundamental questions we ask about Mars. Drilling to this depth allow us to look for life away from the hostile Martian surface where radiation is likely to kill life as we know it.

    Samples gathered by the Rosalind Franklin rover may help us answer the age old question “Are we alone in the Universe?

    Paul Bate, CEO of the UK Space Agency, said: 

    This is humanity defining science, and the best opportunity to find if past life once existed on Mars.

    We’re proud to have funded this world leading technology. The ripple effects of space exploration discoveries extend far beyond the realm of space exploration, driving progress and prosperity across multiple sectors in the UK, and inspiring technological advances to benefit us all.

    Our journeys into space continue to improve our lives here on Earth.

    Dr Louisa J Preston, a Co-Investigator on PanCam and Enfys who is based at UCL’s Mullard Space Science Laboratory, said:

    The Rosalind Franklin Rover mission will be a unique ground-breaking mission; the first sent to drill 2 metres into the crust of Mars, collecting and analysing samples that are up to 4 billion years old, with the goal of discovering evidence of past or even present life hidden beneath the surface.

    Rosalind is a truly international collaboration and the UK has taken a pivotal role in this through the development of the PanCam and Enfys instruments, building the rover, and now excitingly providing the landing platform. It is a privilege to be a part of this mission and we cannot wait to finally ‘open our eyes’ at Oxia Planum, the Martian plain where the rover will land, and begin this incredible adventure.

    Under contract from aerospace company Thales Alenia Space (TAS), which is leading the overall ExoMars mission, Airbus teams in Stevenage will design the mechanical, thermal and propulsion systems necessary for the landing platform to ensure a safe touchdown  for the rover in 2030.  

    This will include the landing structure, the large propulsion system used to provide the final braking thrust, and the landing gear to ensure the lander is stable on touchdown. The lander will feature 2 ramps that will be deployed on opposite sides to enable the rover to be driven onto the Martian surface using the least risky route.

    Kata Escott, Managing Director Airbus Defence and Space UK said:

    Getting the Rosalind Franklin rover onto the surface of Mars is a huge international challenge and the culmination of more than 20 years’ work. We are proud to have built the rover in our state-of-the-art Stevenage cleanroom and delighted now to develop the project to ensure its safe delivery to Mars. Rosalind Franklin will be the first Martian rover able to analyse samples from 2 metres below the surface in its search for past or present life. The mission will supercharge our space know-how in the UK, and will advance our collective understanding of our solar system.

    The mission is a collaborative effort from science communities not just across Europe but also the UK, with a range of UK universities involved in the development and launch of the rover. For example, the panoramic camera (PanCam) system on the rover is led by scientists from University College London’s Mullard Space Science Laboratory working with the University of Aberystwyth, Birkbeck College and the University of Leicester. The University of Aberystwyth is also building an infrared spectrometer for the rover, which will identify the most promising rocks to drill and test for evidence of ancient biology.  

    The UK Space Agency also launched the National Space Innovation Programme’s Call 2 funding competition on 27 March. £17 million of grant funding will be made available, supporting businesses, universities, and other space organisations across the UK to develop and commercialise the technologies of the future that will deliver benefits to the UK economy and its citizens.

    Notes to editors

    The contract returns the £150 million invested by the UK into the European Space Agency Exploration Programme to enable the Rosalind Franklin programme to continue. European Space Agency contracts delivered to the UK Space Agency provide an average return of £9.80 for every £1 spent.  

    The US was the last nation to send a rover to Mars in 2021, when NASA’s Perseverance Mars rover collected samples on the red planet.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

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    Published 29 March 2025

    MIL OSI United Kingdom –

    March 29, 2025

  • MIL-OSI: Partners Value Investments Inc. Announces 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V) announced today its financial results for the year ended December 31, 2024. All amounts are stated in U.S. dollars.

    The Company recorded net loss of $3.8 billion for the year ended December 31, 2024, compared to $333 million in the prior year. The decrease in income was primarily attributable to the current year remeasurement losses associated with the retractable shares and warrant liabilities, partially offset by higher investment income and valuation gains as well as foreign currency gains compared to the prior year. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective appreciation or depreciation of the Partners Value Investments L.P. (the “Partnership”) unit price as the exchangeable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the year, the Partnership unit price increased by $51.79 compared to $4.96 in the prior year.

    Excluding retractable share and warrant liability remeasurement gains and dividends paid on retractable shares, Adjusted Earnings for the Company was $122 million for the year ended December 31, 2024, compared to $27 million in the prior year. Adjusted Earnings were higher in the current year as a result of higher investment income and valuation gains as well as foreign currency gains.

    As at December 31, 2024, the market prices of a Brookfield Corporation (the “Corporation”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (the “Manager”, NYSE/TSX: BAM) share were $57.45 and $54.19, respectively. As at March 28, 2025, the market prices of a BN and BAM share were $51.85 and $48.50, respectively.

    Consolidated Statements of Operations

    For the years ended December 31
    (Thousands, US dollars)    		      
                2024       2023    
    Investment income                      
    Dividends           $ 108,428     $ 96,269    
    Other investment income             18,607       11,802    
                  127,035       108,071    
    Expenses                      
    Operating expenses             (5,553 )     (5,843 )  
    Financing costs             (38,777 )     (35,210 )  
    Retractable preferred share dividends             (33,399 )     (35,456 )  
                  (77,729 )     (76,509 )  
    Other items                      
    Investment valuation gains (losses)             5,703       (6,237 )  
    Retractable share remeasurement losses             (3,575,080 )     (281,451 )  
    Warrant liability remeasurement losses             (306,473 )     (52,694 )  
    Amortization of deferred financing costs             (3,506 )     (3,380 )  
    Foreign currency gain (loss)             53,280       (15,983 )  
    Current tax expense             (3,514 )     (1,270 )  
    Deferred tax expense             (7,489 )     (3,280 )  
    Net loss           $ (3,787,773 )   $ (332,733 )  


    Financial Profile

    The Company’s principal investments are its interest in 121 million Class A Limited Voting Shares of the Corporation and approximately 31 million Class A Limited Voting Shares of the Manager. This represents approximately an 8% interest in the Corporation and a 7% interest in the Manager as at December 31, 2024. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests.

    The information in the following table has been extracted from the Company’s Consolidated Statements of Financial Position:

    Consolidated Statements of Financial Position

    As at
    (Thousands, US dollars)    		       December 31,
    2024    		       December 31,
    2023    		  
    Assets              
    Cash and cash equivalents     $ 156,952     $ 199,856  
    Accounts receivable and other assets       69,776       31,456  
    Deferred tax assets       —       4,309  
    Investment in Brookfield Corporation1       6,949,656       4,853,261  
    Investment in Brookfield Asset Management Ltd.2       1,669,488       1,237,554  
    Other investments carried at fair value       1,141,048       889,398  
          $ 9,986,920     $ 7,215,834  
    Liabilities and Equity              
    Accounts payable and other liabilities     $ 42,824     $ 34,916  
    Corporate borrowings       208,168       225,789  
    Preferred shares3       703,044       757,254  
    Retractable common shares       7,312,467       3,718,510  
    Warrant liability       494,710       218,051  
    Deferred tax liabilities       7,933       —  
            8,769,146       4,954,520  
    Equity              
    Accumulated deficit       (6,821,786 )     (3,034,013 )
    Accumulated other comprehensive income       8,027,580       5,283,347  
    Non-controlling interest       11,980       11,980  
          $ 9,986,920     $ 7,215,834  
    1. The investment in Brookfield Corporation consists of 121 million Corporation shares with a quoted market value of $57.45 per share as at December 31, 2024 (December 31, 2023 – $40.12).
    2. The investment in Brookfield Asset Management Ltd. consists of 31 million Manager shares with a quoted market value of $54.19 per share as at December 31, 2024 (December 31, 2023 – $40.17).
    3. Represents $712 million of retractable preferred shares less $9 million of unamortized issue costs as at December 31, 2024 (December 31, 2023 – $767 million less $10 million).

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

    Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

    The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

    March 29, 2025

  • MIL-OSI: Partners Value Investments L.P. Announces 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the year ended December 31, 2024. All amounts are stated in U.S. dollars.

    The Partnership recorded net income of $74 million for the year ended December 31, 2024, compared to $15 million in the prior year. The increase in income was primarily driven by higher investment income and valuation gains as well as foreign currency gains. Income of $65 million was attributable to the Equity Limited Partners, and $9 million was attributable to Preferred Limited Partners.

    As at December 31, 2024, the market prices of a Brookfield Corporation (the “Corporation”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (the “Manager”, NYSE/TSX: BAM) share were $57.45 and $54.19, respectively. As at March 28, 2025, the market prices of a BN and BAM share were $51.85 and $48.50, respectively.

    Consolidated Statements of Operations

    For the years ended December 31      
    (Thousands, US dollars)       2024       2023  
    Investment income              
    Dividends     $ 95,071     $ 85,114  
    Other investment income       18,609       11,802  
            113,680       96,916  
    Expenses              
    Operating expenses       (6,552 )     (6,156 )
    Financing costs       (10,136 )     (9,484 )
    Retractable preferred share dividends       (39,879 )     (41,954 )
            (56,567 )     (57,594 )
                   
    Other items              
    Investment valuation gains (losses)       5,703       (6,237 )
    Amortization of deferred financing costs       (3,506 )     (3,380 )
    Foreign currency gains (losses)       25,519       (10,435 )
    Current taxes expense       (3,514 )     (1,270 )
    Deferred taxes expense       (7,489 )     (3,280 )
    Net income     $ 73,826     $ 14,720  
     

    The information in the following table shows the changes in net book value:

    For the years ended December 31 2024   2023
    (Thousands, except per unit amounts)   Total        Per Unit      Total       Per Unit
    Net book value, beginning of year1 $ 5,783,620     $ 70.74   $ 4,656,824     $ 57.60
    Net income2   65,054             5,368        
    Other comprehensive income2   2,690,274             1,443,806        
    Adjustment for impact of warrants1   (148,510 )           (89,755 )      
    Re-organization3   —             98,318        
    Distribution3   —             (327,850 )      
    Equity LP repurchases   (14,756 )           (3,091 )      
    Net book value, end of year4 $ 8,375,682     $ 102.80   $ 5,783,620     $ 70.74
    1. Calculated on a fully diluted basis. Net book value is a non‐IFRS measure used by management to measure the value of an Equity Limited Partnership (“Equity LP”) unit on a fully diluted basis. It is equal to total equity less General Partner equity, Preferred Limited Partners’ equity,
      non-controlling interests’ equity plus the value of consideration to be received on exercising of warrants, which as at December 31, 2024, was
      $114 million (December 31, 2023 – $263 million).
    2. Attributable to Equity Limited Partners.
    3. As a result of the 2023 re-organization, the Partnership issued net equity of $98 million and a distribution-in-kind of $328 million of net assets to Equity Limited Partners.
    4. At the end of the year, the diluted Equity LP units outstanding were 81,474,610 (December 31, 2023 – 81,760,920); this includes 5,640,600 (December 31, 2023 – nil) Equity LP units exchangeable on a one-for-one basis with shares held by a non-wholly owned subsidiary, and units issued through the exercise of all outstanding warrants; including 585,938 (December 31, 2023 – 26,085,938) warrants held by partially-owned subsidiaries of the Partnership.

    Financial Profile

    The Partnership’s principal investments are its interest in approximately 121 million Class A Limited Voting Shares of the Corporation and approximately 31 million Class A Limited Voting Shares of the Manager. This represents approximately an 8% interest in the Corporation and a 7% interest in the Manager as at December 31, 2024. In addition, the Partnership owns a diversified investment portfolio of marketable securities and private fund interests.

    The information in the following table has been extracted from the Partnership’s Consolidated Statements of Financial Position:

    Consolidated Statements of Financial Position

    As at
    (Thousands, US dollars)    		     December 31, 2024       December 31, 2023
    Assets              
    Cash and cash equivalents   $ 156,977     $ 199,856
    Accounts receivable and other assets     48,924       31,416
    Deferred tax asset     —       4,309
    Investment in Brookfield Corporation1     6,949,656       4,853,261
    Investment in Brookfield Asset Management Ltd.2     1,669,488       1,237,554
    Other investments carried at fair value     814,877       612,009
        $ 9,639,922     $ 6,938,405
    Liabilities and equity              
    Accounts payable and other liabilities   $ 42,055     $ 34,150
    Corporate borrowings     208,168       225,789
    Preferred shares3     939,057       993,267
    Deferred tax liability     7,933       —
          1,197,213       1,253,206
    Equity              
    Equity Limited Partners     8,261,639       5,521,067
    General Partner4     —       —
    Preferred Limited Partners     152,040       152,152
    Non-controlling interests     29,030       11,980
          8,442,709       5,685,199
        $ 9,639,922     $ 6,938,405
    1. The investment in the Corporation consists of 121 million Corporation shares with a quoted market value of $57.45 per share as
      at December 31, 2024 (December 31, 2023 – $40.12).
    2. The investment in the Manager consists of 31 million Manager shares with a quoted market value of $54.19 per share as at December 31, 2024 (December 31, 2023 – $40.17).
    3. Represents $712 million of retractable preferred shares less $9 million of unamortized issue costs as at December 31, 2024
      (December 31, 2023 – $767 million less $10 million) and $236 million of three series of preferred shares (December 31, 2023 – $236 million).
    4. In connection with the 2023 re‐organization of Partners Value Investments LP on November 24, 2023, the General Partner’s interest was reduced to $1 from $1 thousand in the prior year.

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

    Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

    The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

    March 29, 2025

  • MIL-OSI: Partners Value Split Corp. Announces 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Partners Value Split Corp. (the “Company”, TSX: PVS.PR.G, PVS.PR.H, PVS.PR.I, PVS.PR.J, PVS.PR.K, PVS.PR.L) announced today that the net asset value per unit was $171.41 at December 31, 2024 (December 31, 2023 – $124.10). All amounts are in U.S. dollars.

    Income available for distribution for the year ended December 31, 2024, was $85 million, compared to $73 million in the prior year. The increase in income was primarily attributable to the increase in dividend rate per share by Brookfield Corporation (the “Corporation”) and Brookfield Asset Management Ltd. (the “Manager”). During the year ended December 31, 2024, the Company declared and paid dividends in the amount of $79 million
    (December 31, 2023 – $50 million) to the holders of its capital shares.

    The net comprehensive income for the year ended December 31, 2024, of $2.6 billion was primarily driven by unrealized mark-to-market movement on the share prices of the Corporation and the Manager shares. The Corporation share price was $57.45 as at December 31, 2024 (December 31, 2023 – $40.12) and the Manager share price was $54.19 as at December 31, 2024 (December 31, 2023 – $40.17).

    The Company’s capital shares, and preferred shares are referred to collectively as units, with each unit consisting of one capital share and one preferred share (“unit”). The net asset value per unit is posted monthly on our website at www.partnersvaluesplit.com.

    STATEMENTS OF COMPREHENSIVE INCOME

    For the years ended December 31
    (Thousands of US dollars, except per unit amounts)    		     2024       2023  
    Income            
    Dividend income   $ 83,728     $ 71,767  
    Other investment income     1,265       1,817  
          84,993       73,584  
    Expenses            
    Management fees     (18)       (19)  
    Audit fees     (25)       (21)  
    Administrative and other     (327)       (278)  
          (370)       (318)  
    Income available for distribution     84,623       73,266  
    Distributions paid on senior preferred shares and debentures     (31,011)       (31,859)  
    Income available for distribution to junior preferred and capital shares     53,612       41,407  
    Change in unrealized and realized value of investment     2,491,751       1,379,718  
    Amortization of share issuance costs     (3,211)       (3,233)  
    Unrealized foreign exchange gain (loss)     72,344       (19,872)  
    Net comprehensive income   $ 2,614,496     $ 1,398,020  
    Comprehensive income per unit   $ 53.64     $ 28.71  
    Quarterly distribution rate per senior preferred share (C$)              
      –         Class AA, Series 9     0.3063       0.3063
      –         Class AA, Series 10     0.2938       0.2938
      –         Class AA, Series 11     0.2969       0.2969
      –         Class AA, Series 12     0.2750       0.2750
      –         Class AA, Series 13     0.2781       0.2781
      –         Class AA, Series 14     0.3438       N/A

    As at December 31, 2024, the Company owned 120 million Class A Limited Voting shares of the Corporation, and 30 million Class A Limited Voting Shares of the Manager, which together generate cash flow through dividend payments that fund quarterly fixed cumulative preferential dividends for the holders of the Company’s preferred shares and provide the holders of the Company’s capital shares the opportunity to participate in any capital appreciation of the Brookfield shares.

    Brookfield Corporation is a leading global investment firm focused on building long‐term wealth for institutions and individuals around the world. This capital is allocated across three core businesses: asset management, wealth solutions and operating businesses. The Corporation is listed on the New York and Toronto Stock Exchanges under the symbol BN and BN.TO respectively. The Company’s investment in Corporation represents approximately an
    8% interest in the Corporation.

    Brookfield Asset Management Ltd. is a leading global alternative asset manager with over $1 trillion of assets under management across real estate, infrastructure, renewable power and transition, private equity and credit as of December 31, 2024. The Manager is listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.TO respectively. The Company’s investment in Manager represents approximately a 7% interest in the Manager.

    For further information, contact Investor Relations at 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and regulations. The words “generate” and “enable” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking information. Forward-looking information in this news release includes statements with regard to the generation of cumulative preferential dividends for the holders of the Company’s preferred shares and potential participation by the holders of the Company’s capital shares in the capital appreciation of Brookfield Shares.

    Although the Company believes that the anticipated future results or achievements expressed or implied by the forward-looking information and statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on the forward-looking information and statements because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking information and statements.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking information to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as may be required by law, the Company undertakes no obligation to publicly update or revise any forward-looking information or statements, whether written or oral, that may be as a result of new information, future events or otherwise. Reference should be made to the Company’s most recent Annual Information Form for a description of the major risk factors.

    The MIL Network –

    March 29, 2025

  • MIL-OSI United Nations: Fifth Committee Concludes Resumed Session amidst Concerns Over Working Methods, Meagre Results

    Source: United Nations General Assembly and Security Council

    Note: Full coverage of today’s meeting of the Fifth Committee will be available Tuesday, 1 April.

    While the Fifth Committee (Administrative and Budgetary) concluded the first part of its resumed seventy-ninth session today with the consensual approval of five texts, several delegates expressed concern that the results were disappointing and minimal.

    At the outset of the meeting, the Committee approved — without a vote — draft resolutions titled “Special subjects relating to the programme budget for 2025” (document A/C.5/79/L.31); “Human resources management” (document A/C.5/79/L.33); “Joint Inspection Unit” (document A/C.5/79/L.32); and “Review of the implementation of General Assembly resolutions 48/218 B, 54/244, 59/272, 64/263, 69/253 and 74/257” (document A/C.5/79/L.30).  It also approved, without a vote, the draft decision titled “Questions deferred for future consideration” (document A/C.5/79/L.34).

    Speaking afterwards, the representative of the European Union, in its capacity as observer, pointed to the Committee’s role in addressing budgetary matters and providing a platform for Member States’ to discuss substantive administrative issues that keep the Organization operating smoothly.  “However”, she emphasized, “we must acknowledge that we have not been successful in providing the needed guidance, which should make us think about how we — as a Committee — can become more efficient and effective.”  

    While recognizing delegates’ efforts to reach consensus, she said that it was disappointing that no resolutions pertaining to the Organization’s efficiency were approved, particularly in the areas of accountability and supply-chain management.  This stark outcome raises serious questions about the Committee’s organization of work.  “Clearly, extending this session from four to five weeks — at considerable cost for the Organization and for ourselves — was wasteful”, she said, stating that the Committee does not need more time, but earlier, more active and constructive engagement.

    The representative of the United States echoed this disappointment, noting that delegates had invested five weeks of time with minimal results.  He expressed particular concern over the lack of action on supply-chain management, organizational resilience and the annual review of the Office of Internal Oversight Services (OIOS).  Stressing that the Committee must exercise proper oversight to ensure the Organization keeps pace with changes, he added:  “The UN80 Initiative is a clear message that the UN must do better to streamline processes and ensure our time together turns into action.”

    The representative of the United Kingdom, too, expressed regret over the lack of action, deferrals and “retractable attitudes”, noting that a single delegation blocked agreement on some issues.  While the Committee did agree on revised estimates to finance a General Assembly resolution to combat Islamophobia, it did not identify sustainable solutions to deal with the liquidity crisis.  Stating that the Committee has strayed from its technical responsibilities, she said:  “It can do better — and must do better — to deliver technically informed outcomes.” 

    Also dissatisfied with the Committee’s meagre results, Japan’s delegate said that the body missed the opportunity to present its collective views to the Secretariat.  “We tell the UN to be more efficient, and yet our working methods are probably the least efficient,” he observed, emphasizing:  “We tell the UN to cut costs and, yet, we fail to provide the guidance to do so.”  While recognizing efforts made to reach compromises and avoid votes in this resumed session, he underscored:  “We all have to do better.”

    The representative of Israel also noted delegates’ constructive engagement despite the difficulty of the issues under consideration.  On that, she pointed to consensus on the resolution to provide additional funding to support a General Assembly resolution that aims to combat Islamophobia.  “Intolerance has no place in the Organization,” she stressed, adding that concrete measures should be taken to combat all forms of religious discrimination — including a dangerous increase in anti-Semitism.

    Pakistan’s delegate also welcomed the consensual outcome on that resolution, spotlighting the “pleasant coincidence” that it was negotiated during the month of Ramadan. “The adoption of this resolution carries spiritual meaning for our delegation,” he noted.  “We look forward to working with all delegation members in the upcoming sessions in the same spirit,” he added.

    While pleased that consensus was reached on many issues, Iraq’s representative, speaking for the Group of 77 and China, expressed concern that a substantive resolution was not reached on comprehensive agreements for human-resources management and accountability.  On that, he expressed support for more opportunities for interns from developing countries.  Concluding, he pointed out that the Organization’s liquidity crisis can only be resolved if Member States pay their assessments in full and on time.

    Closing the meeting, Egriselda Aracely González López (El Salvador), Chair of the Fifth Committee at its seventy-ninth session, said: “I know it wasn’t easy — I know that many of you would have wanted more — but we mustn’t lose sight of the fact that results are the result of collective effort.”  Thanking those present — and acknowledging that “some hours of sleep were lost”, but that it is important to “see the glass half-full, rather than half-empty” — she said:  “We have agreements that are relevant for the Organization to continue implementation of its mandates.”

    …

    MIL OSI United Nations News –

    March 29, 2025

  • MIL-OSI USA: Sullivan and Peters Introduce Resolution to Preserve Independent USPS

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    03.28.25

    WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska) and Gary Peters (D-Mich.) introduced a bipartisan resolution to support the independence and critical public service mission of the United States Postal Service, emphasizing the essential role the Postal Service has played in connecting and serving Americans, especially in rural communities. Sens. Sullivan and Peters were joined in introducing the resolution by U.S. Senators Lisa Murkowski (R-Alaska), Susan Collins (R-Maine), Maggie Hassan (D-N.H.) and Thom Tillis (R-N.C.).

    “In a state as vast as ours, with many remote communities only accessible by air or water, the USPS serves as an essential government agency that keeps postal services affordable for Alaskans,” Senator Sullivan said. “The Bypass Mail program—a lifeline for Rural Alaska that I have fought for since becoming a senator—allows the USPS to fulfill its universal service obligation to deliver goods and services to even the most remote parts of our state. I will forcefully oppose any action that threatens that program. I am glad to work with my colleagues from other rural states on this resolution to oppose the privatization of the Postal Service and ensure that this critical agency remains focused on its statutory requirement to reliably deliver mail to every household, no matter how remote.”  

    “Federal statute has long recognized that the Postal Service’s core purpose is ‘to bind the Nation together through the personal, educational, literary, and business correspondence of the people.’ In Alaska, where most communities are unconnected by road and where internet connectivity—when available—is often unreliable or prohibitively expensive, we rely on the USPS to deliver vital basic necessities, whether that is food, medicine, election ballots, spare parts, store inventory, or subsistence supplies,” said Senator Murkowski. “I am proud to co-sponsor this resolution again to reaffirm the significance of the United States Postal Service as an independent establishment of the Federal Government and to reject its privatization.”

    “For more than 250 years, the Postal Service has been a cornerstone of our nation, connecting every household and business across the country,” said Senator Peters. “Any efforts to undermine the Postal Service’s independence or privatize it would jeopardize affordable, universal mail service and harm the millions of Americans—especially veterans, small business owners, and rural communities—who rely on the Postal Service every day. This resolution reaffirms our commitment to keeping the Postal Service independent and self-sustaining, ensuring it continues to serve as a vital lifeline for all Americans.”

    “The privatization of the United States Postal Service would be devastating to Alaskans not only in remote communities, but throughout the state. The Postal Service currently serves all Alaskans, regardless of where they live. It serves many areas of the state that are not profitable for other shippers. If the Postal Service is privatized, it will significantly increase shipping costs throughout the state and be devastating to Alaska’s economy. All Alaska letter carriers of the National Association of Letter Carriers stands by Senator Sullivan in his efforts to keep the Postal Service a public service to all Alaskans,” said Chris Crutchfield, Alaska State Chair for the National Association of Letter Carriers.

    The full text of the resolution can be found here.

    BACKGROUND

    Since 1775, the United States Postal Service and its dedicated postal workforce have performed the essential government function of “providing postal services to bind the Nation together through the personal, educational, literary, and business correspondence of the people” and “rendering postal services to all communities” (39 USC 101). Across the nation today, 630,000 postal employees deliver the mail to more than 168 million residential and business customers, six days a week. The Postal Service is consistently the highest-rated government agency in nonpartisan opinion polls. It also plays a crucial role in our national security, protecting us from mail-borne threats.

    In support of the Postal Service, this bipartisan resolution expresses the sense of the Senate that Congress should take all appropriate measures to ensure the Postal Service remains an independent establishment of the Federal Government and is not subject to privatization. The resolution also recognizes:

    • The Postal Service is at the center of the $1.9 trillion mailing industry, which employs 7.9 million people in the United States.
    • The Postal Service is a self-sustaining, independent establishment that relies on revenue derived from the sale of postal services and products, not on taxpayer funds.
    • The Postal Service maintains an affordable and universal network, connecting rural, suburban, and urban communities.
    • Postal Service employees, including over 73,000 military veterans, are dedicated public servants who serve as the eyes and ears of our communities.

    MIL OSI USA News –

    March 29, 2025

  • MIL-OSI: Summit State Bank Reports Revised Fourth Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SANTA ROSA, Calif., March 28, 2025 (GLOBE NEWSWIRE) — Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported that it has revised its fourth quarter and full year 2024 financial results from those announced in the press release dated January 28, 2025. In connection with the preparation and review of its 2024 financial statements, the Bank has concluded it is necessary to record a $693,000 other real estate owned valuation adjustment, a $146,000 increase in reserve for unfunded loans, and a $76,000 credit loss provision reversal for the fourth quarter 2024. The need for the valuation adjustment results from an updated appraisal report obtained in the first quarter of 2025. The additional reserve for unfunded loans and provision reversal results from the Bank’s adoption of a new CECL model as of December 31, 2024. The valuation adjustment was expensed against noninterest income and also reduced the Bank’s other real estate owned asset. The additional reserve for undisbursed loans and the reversal of the credit losses on loans resulted in a net expense against the provision for credit losses. The income tax provision was adjusted accordingly for all changes noted above.

    After the impact adjustments as outlined above, the Bank’s preliminary, unaudited fourth quarter earnings estimate is revised to a net loss of $7,142,000, or $1.06 loss per diluted share, and full-year 2024 net loss of $4,193,000, or $0.62 loss per diluted share. The Bank previously reported preliminary, unaudited results for fourth quarter 2024 including net loss of $6,605,000 or $0.98 loss per diluted share, and full-year 2024 net loss of $3,656,000, or $0.54 loss per diluted share.

    Material Updates to Income Statement
    The Bank originally reported noninterest income of $1,373,000 in the fourth quarter of 2024 and $4,152,000 for full-year 2024. After the adjustment, noninterest income was reduced to $680,000 in the fourth quarter of 2024 and $3,459,000 for full-year 2024.

    The Bank originally reported total provision for credit losses of $6,652,000 in the fourth quarter of 2024 and $7,845,000 for full-year 2024. After the adjustment, total provision increased to $6,722,000 in the fourth quarter of 2024 and $7,915,000 for full-year 2024.

    Impact to Income Taxes
    The Bank’s revised effective tax rate for the twelve months ended December 31, 2024 was 4.4% compared to the previously reported effective tax rate of -0.8%.

    Updated Previously Furnished Earnings Materials
    For completeness, the Bank has included all previously announced financial results disclosures and related tables with this press release as revised. These results supersede the results previously disclosed in the January 28, 2025 press release.

    Revised Fourth Quarter 2024 Financial Results

    The Bank has a net loss of $7,142,000, or $1.06 loss per diluted share for the fourth quarter ended December 31, 2024, compared to net income of $1,901,000, or $0.28 per diluted share for the fourth quarter ended December 31, 2023. The current quarter’s results were impacted by expenses including a $6,570,000 provision for credit losses on loans and a $4,119,000 one-time non-cash impairment charge to write off the remaining balance of goodwill. The Bank has taken significant charge offs and provisions for credit losses in the fourth quarter of 2024 as a proactive step towards resolving its problem loans. The goodwill impairment was a result of the Bank’s stock price trading below book value and is a non-cash charge that does not impact the Bank’s cash flows, liquidity, or regulatory capital. The Bank ended the year with improved regulatory capital ratios and is focused on expanding net interest margin in 2025.

    For the year ended December 31, 2024, the Bank reported a net loss of $4,193,000, or $0.62 loss per diluted share compared to net income of $10,822,000, or $1.62 per diluted share for the year ended December 31, 2023. The 2024 net income loss was primarily attributable to annual provision for credit losses on loans totaling $7,882,000 and a one-time non-cash goodwill impairment expense of $4,119,000.

    Pre-tax, pre-provision net income before goodwill1 was $2,301,000 for the quarter ended December 31, 2024, compared to $2,122,000, $1,267,000, $1,955,000 and $2,643,000 for the quarters ended September 30, 2024, June 30, 2024, March 31, 2024, and December 31, 2023, respectively. “At the beginning of 2024, the Bank was negatively impacted by the ongoing strains that the high-interest rate environment put on our funding costs,” said Brian Reed, President and CEO. “By the fourth quarter of 2024, the Bank’s core operating results improved due to a lower cost of funds and improved noninterest income.”

    “The Bank continues to focus on maintaining strong capital levels and did that effectively in 2024 by strategically managing the balance sheet and suspending cash dividends. As such, the Board determined it will also suspend cash dividends in the first quarter of 2025 so that we can build capital, increase liquidity, and position the Bank to create long-term value for our shareholders.”

    “The largest negative impact on the Bank’s performance in 2024 was a result of the heightened level of non-performing assets,” said Reed. “We have been aggressively pursuing solutions to these problem loans and have reduced our non performing loans by $9,160,000 in the fourth quarter of 2024. We anticipate non performing loans will be further reduced by $18,187,000 in the first half of 2025 as a result of loan payoffs from the sale of collateral that is currently under contract to be sold.”

    “We are headed into 2025 feeling positive about our prospects subsequent to our significant progress in resolving problem loans. We continue to maintain our well capitalized status and sufficient liquidity after having realized successive quarters of improved net operating income results,” concluded Reed.

    Fourth Quarter 2024 Financial Highlights (at or for the three months ended December 31, 2024)

    • The Bank’s Tier 1 Leverage ratio increased to 8.87% at December 31, 2024 compared to 8.85% at December 31, 2023. This ratio remains above the minimum of 5% required to be considered “well-capitalized” for regulatory capital purposes.
    • The Bank has implemented numerous operating cost saving initiatives including an 8% reduction in force.
    • The Bank’s annualized loss on average assets and annualized loss on average equity for the fourth quarter of 2024 was 2.59% and 28.05%, respectively. The pre-tax, pre-provision return on average assets before goodwill1 and pre-tax, pre-provision return on average equity before goodwill1 in the fourth quarter would have been 0.83% and 9.04%, respectively.
    • Net income was a loss of $7,142,000 for the fourth quarter of 2024. Pre-tax, pre-provision net income before goodwill1 was $2,301,000 for the fourth quarter of 2024 compared to $2,122,000, $1,267,000, $1,955,000 and $2,643,000 for the quarters ended September 30, 2024, June 30, 2024, March 31, 2024, and December 31, 2023, respectively.
    • Collateral relating to two of the non performing loans is in contract to sell in the first half of 2025 and the expected proceeds represent 65% or $18,010,000 of the remaining $27,754,000 of non performing loans.
    • The allowance for credit losses to total loans was 1.49% after charging off $8,343,000 and recording a $6,570,000 provision for credit losses on loans to replenish reserves on December 31, 2024.
    • The Bank maintained strong total liquidity of $435,409,000, or 40.8% of total assets as of December 31, 2024. This includes on balance sheet liquidity (cash and equivalents and unpledged available-for-sale securities) of $111,471,000 or 10.4% of total assets, plus available borrowing capacity of $323,938,000 or 30.4% of total assets.
    • The Bank has been strategically managing its loan and deposit portfolios to reduce risk in the balance sheet and improve capital ratios. The Bank has been successful in reducing the size of its balance sheet as noted below:
      • Net loans decreased $33,551,000 to $905,075,000 at December 31, 2024, compared to $938,626,000 one year earlier and decreased $12,292,000 compared to $917,367,000 three months earlier.
      • Total deposits decreased 5% to $962,562,000 at December 31, 2024, compared to $1,009,693,000 at December 31, 2023, and decreased 4% when compared to the prior quarter end of $1,002,770,000.
    • Book value was $13.53 per share, compared to $14.40 per share a year ago and $14.85 in the preceding quarter.

    Operating Results

    For the fourth quarter of 2024, the annualized loss on average assets was 2.59% and the annualized loss on average equity was 28.05%. This compared to an annualized return on average assets of 0.67% and an annualized return on average equity of 8.02%, respectively, for the fourth quarter of 2023. These ratios were negatively impacted during the fourth quarter of 2024 by a credit loss provision and one-time goodwill impairment. Without the impact from these items, the pre-tax, pre-provision return on average assets before goodwill1 and the pre-tax, pre-provision return on average equity before goodwill1 would have been 0.83% and 9.04%, respectively, for the three months ended December 31, 2024.

    For the year ended 2024, the loss on average assets was 0.38% and the loss on average equity was 4.23%. This compares to the return on average assets of 0.95% and return on average equity of 11.56%, respectively, for the year ended 2023.

    The Bank’s net interest margin was 2.88% in the fourth quarter of 2024 compared to its lowest quarterly net interest margin this year of 2.71% which occurred in the second and third quarters of 2024. The current net interest margin is also higher compared to the fourth quarter of 2023 of 2.85%. This was primarily attributable to the cost of deposits decreasing in the fourth quarter of 2024 to 2.87% compared to 3.05% during the preceding quarter. “We are starting to see an improvement in cost of funds in response to the Federal Reserve rate decreases. As CDs mature, we expect to see continued improvement in deposit pricing in the near future,” said Reed. “In addition, loan yields have started to improve as our existing loans have started to reprice.”

    Interest and dividend income decreased 1.0% to $14,935,000 in the fourth quarter of 2024 compared to $15,036,000 in the fourth quarter of 2023. The decrease in interest income is attributable to a $182,000 decrease in interest on investment securities and a $137,000 decrease in interest on deposits with banks offset by an increase of $214,000 in interest and fees on loans.

    Noninterest income increased in the fourth quarter of 2024 to $680,000 compared to $297,000 in the fourth quarter of 2023. The increase is primarily attributed to the Bank recognizing $857,000 in gains on sales of SBA guaranteed loan balances offset by the valuation adjustment on other real estate owned of $693,000 in the fourth quarter of 2024 compared to no gains on sales of SBA guaranteed loan balances in the fourth quarter of 2023.

    Operating expenses increased in the fourth quarter of 2024 to $10,200,000 compared to $5,483,000 in the fourth quarter of 2023. The increase is primarily due to a one-time non-cash impairment charge of $4,119,000 to write off the remaining balance of goodwill. In addition, the Bank recorded a $443,000 loss related to an external check fraud event during the fourth quarter of 2024. The Bank has filed an insurance claim related to this fraud loss and may be partially reimbursed by insurance at a later date.

    “We remain focused on enhancing revenue generation and driving significant cost efficiencies to improving our operational effectiveness. To date we have leveraged existing staff and technologies to reduce third-party expenses, eliminated raises and bonuses, reduced employee benefits Bank-wide, and reduced director fees.”

    Balance Sheet Review

    During 2024, the Bank strategically managed its loan and deposit portfolios to reduce risk in the balance sheet and improve capital ratios. As a result of the efforts, net loans decreased 4% to $905,075,000 and total deposits also decreased 5% to $962,562,000 as of December 31, 2024 compared to December 31, 2023.

    Net loans were $905,075,000 at December 31, 2024 compared to $938,626,000 at December 31, 2023, and decreased 1% compared to September 30, 2024. The Bank’s largest loan types are commercial real estate loans which make up 78% of the portfolio, “secured by farmland” totaling 9% of the portfolio, and 7% in commercial and industrial loans. Of the commercial real estate total, approximately 34% or $231,000,000 is owner occupied and the remaining 66% or $451,000,000 is non-owner occupied. The Bank’s entire loan portfolio is well diversified between industries including office space which totals $116,400,000.

    Total deposits were $962,562,000 at December 31, 2024 compared to $1,009,693,000 at December 31, 2023, and decreased 4% compared to the prior quarter end. At December 31, 2024, noninterest bearing demand deposit accounts decreased 8% compared to a year ago and represented 19% of total deposits; savings, NOW and money market accounts decreased 9% compared to a year ago and represented 49% of total deposits, and CDs increased 4% compared to a year ago and comprised 32% of total deposits.

    Shareholders’ equity was $91,723,000 at December 31, 2024, compared to $100,662,000 three months earlier and $97,678,000 a year earlier. The decrease in shareholders’ equity compared to a year ago was due to a reduction in retained earnings. At December 31, 2024 book value was $13.53 per share, compared to $14.85 three months earlier, and $14.40 at December 31, 2023.

    The Bank’s Tier 1 Leverage ratio continues to exceed the minimum of 5% necessary to be categorized as “well-capitalized” for regulatory capital purposes. The Tier-1 leverage ratio at the end of 2024 was 8.87%, an increase compared to 8.85% at the end of 2023.

    Credit Quality

    “Our primary focus remains on managing asset quality and reducing portfolio risk,” said Reed. “To that end we charged off loans of $8,343,000 and recorded a $6,570,000 provision for credit losses to replenish reserves during the fourth quarter of 2024. Three credits represent 94% or $26,040,000 of our non performing loans and are “secured by farmland” which have been hit hard by the current environment. The Bank holds a small portion of its total loans in this industry and actively monitors the performance of these loans. Collateral relating to two of these three non performing loans is in contract to sell in the first half of 2025 and represents 65% or $18,010,000 of the non performing loan portfolio. The remaining non performing loans are being reserved at current appraisal value less selling cost.”

    Non performing assets were $32,191,000, or 3.02% of total assets, at December 31, 2024. This compared to $41,971,000 in non performing assets at September 30, 2024, and $44,206,000 in non performing assets at December 31, 2023. Non performing assets include $4,437,000 for one other real estate owned loan at December 31, 2024 and $5,130,000 at September 30, 2024, compared to no other real estate owned at December 31, 2023.

    There were $8,343,000 in net charge-offs during the three months ended December 31, 2024, compared to no charge-offs during the three months ended September 30, 2024 and net recoveries of $9,000 during the three months ended December 31, 2023.

    For the fourth quarter of 2024, consistent with factors within the allowance for credit losses model, the Bank recorded a $6,570,000 provision for credit loss expense for loans, a $154,000 provision for credit losses for unfunded loan commitments and a $2,000 reversal of credit losses on investments. This compared to a $31,000 reversal of credit loss expense on loans, a $65,000 reversal of credit losses on unfunded loan commitments and a $31,000 provision for credit losses on investments in the fourth quarter of 2023.

    The allowance for credit losses to total loans was 1.49% on December 31, 2024, and 1.60% on December 31, 2023. The decrease is due to $9,690,000 in loan charge-offs offset with a provision for credit losses on loans of $7,882,000 and $55,000 provision for credit losses on unfunded loan commitments recorded during the year ended December 31, 2024.

    About Summit State Bank

    Founded in 1982 and headquartered in Sonoma County, Summit State Bank is an award-winning community bank serving the North Bay. The Bank serves small businesses, nonprofits and the community, with total assets of $1.1 billion and total equity of $92 million as of December 31, 2024. The Bank has built its reputation over the past 40 years by specializing in providing exceptional customer service and customized financial solutions to aid in the success of its customers.

    Summit State Bank is committed to embracing the diverse backgrounds, cultures and talents of its employees to create high performance and support the evolving needs of its customers and community it serves. Through the engagement of its team, Summit State Bank has received many esteemed awards including: Top Performing Community Bank by American Banker, Best Places to Work in the North Bay and Diversity in Business by North Bay Business Journal, Corporate Philanthropy Award by the San Francisco Business Times, and Hall of Fame by North Bay Biz Magazine. Summit State Bank’s stock is traded on the Nasdaq Global Market under the symbol SSBI. Further information can be found at www.summitstatebank.com.

    Cautionary Note Regarding Preliminary Financial Results and Forward-looking Statements

    The financial results in this release are preliminary and unaudited. Final audited financial results and other disclosures will be reported in Summit State Bank’s annual report on Form 10-K for the period ended December 31, 2024 and may differ materially from the results and disclosures in this release due to, among other things, the completion of final review procedures, the occurrence of subsequent events or the discovery of additional information.

    Except for historical information, the statements contained in this release, are forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are non-historical statements regarding management’s expectations and beliefs about the Bank’s future financial performance and financial condition and trends in its business and markets. Words such as “expects,” “anticipates,” “believes,” “estimates” and similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could” are intended to identify such forward-looking statements. Examples of forward-looking statements include but are not limited to statements regarding future operating results, operating improvements, loans sales and resolutions, cost savings, insurance recoveries and dividends. The forward-looking statements in this release are based on current information and on assumptions about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond the Bank’s control. As a result of those risks and uncertainties, the Bank’s actual future results and outcomes could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this release. Those risks and uncertainties include, but are not limited to, the risk of incurring credit losses; the quality and quantity of deposits; the market for deposits, adverse developments in the financial services industry and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of the Bank’s liquidity; fluctuations in interest rates; governmental regulation and supervision; the risk that the Bank will not maintain growth at historic rates or at all; general economic conditions, either nationally or locally in the areas in which the Bank conducts its business; risks associated with changes in interest rates, which could adversely affect future operating results; the risk that customers or counterparties may not performance in accordance with the terms of credit documents or other agreements due a decline in credit worthiness, business conditions or other reasons;; adverse conditions in real estate markets; and the inherent uncertainty of expectations regarding litigation, insurance claims and the performance or resolution of loans. Additional information regarding these and other risks and uncertainties to which the Bank’s business and future financial performance are subject is contained in the Bank’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other documents the Bank files with the FDIC from time to time. Readers should not place undue reliance on the forward-looking statements, which reflect management’s views only as of the date of this release. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

    1Non-GAAP Financial Measures

    This release contains non-GAAP (Generally Accepted Accounting Principles) financial measures in addition to the results presented in accordance with GAAP. These Non-GAAP financial measures include pre-tax, pre-provision net operating income before goodwill, pre-tax, pre-provision return on average assets before goodwill (“ROAA”), and pre-tax, pre-provision return on average equity (“ROAE”) before goodwill. We believe the presentation of these non-GAAP financial measures, provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our history results and those of our peers.

    Not all companies use identical calculations or the same definitions of pre-tax, pre-provision net operating income before goodwill, pre-tax, pre-provision ROAA before goodwill and pre-tax, pre-provision ROAE before goodwill, so the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. These non-GAAP financial measures should be taken together with the corresponding GAAP measure and should not be considered a substitute for the GAAP measure. Reconciliations of the most directly comparable GAAP measures to these non-GAAP financial measurements are presented below.

    Contact: Brian Reed, President and CEO, Summit State Bank (707) 568-4908

                             
            Three Months Ended
                             
            December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
            (In thousands)
    Reconciliation of non-GAAP pre-tax, pre-provision income net of goodwill
                             
    Net (loss) income       $ (7,142 )   $ 626     $ 928     $ 1,395     $ 1,901  
    Excluding provision for (reversal of) credit losses   6,722       1,294       (16 )     (85 )     (65 )
    Excluding (reversal of) provision for income taxes   (1,398 )     202       355       645       807  
    Pre-tax, pre-provision income (non-GAAP) $ (1,818 )   $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Excluding goodwill impairment         4,119       –       –       –       –  
    Pre-tax, pre-provision income net of goodwill (non-GAAP) $ 2,301     $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                       
       
                             
                             
            Three Months Ended
                             
            December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
            (In thousands)
    Reconciliation of non-GAAP return on average assets
                             
    Average assets       $ 1,098,885     $ 1,098,469     $ 1,078,700     $ 1,087,960     $ 1,123,057  
    (Loss) return on average assets (1)         -2.59 %     0.23 %     0.35 %     0.51 %     0.67 %
                             
    Net (loss) income       $ (7,142 )   $ 626     $ 928     $ 1,395     $ 1,901  
    Excluding provision for (reversal of) credit losses   6,722       1,294       (16 )     (85 )     (65 )
    Excluding (reversal of) provision for income taxes   (1,398 )     202       355       645       807  
    Pre-tax, pre-provision income (non-GAAP) $ (1,818 )   $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Excluding goodwill impairment         4,119       –       –       –       –  
    Pre-tax, pre-provision income net of goodwill (non-GAAP) $ 2,301     $ 2,122     $ 1,267       $ 1,955       $ 2,643  
                             
    Adjusted return on average assets (non-GAAP) (1)   0.83 %     0.77 %     0.47 %     0.72 %     0.93 %
                             
    (1) Annualized.                
                             
            Three Months Ended
                             
            December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
            (In thousands)
    Reconciliation of non-GAAP return on average shareholders’ equity
                             
    Average shareholders’ equity       $ 101,307     $ 99,962     $ 97,548     $ 97,471     $ 94,096  
    (Loss) return on average shareholders’ equity (1)   -28.05 %     2.48 %     3.82 %     5.74 %     8.02 %
                             
    Net (loss) income       $ (7,142 )   $ 626     $ 928     $ 1,395     $ 1,901  
    Excluding provision for (reversal of) credit losses   6,722       1,294       (16 )     (85 )     (65 )
    Excluding (reversal of) provision for income taxes   (1,398 )     202       355       645       807  
    Pre-tax, pre-provision income (non-GAAP) $ (1,818 )   $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Excluding goodwill impairment         4,119       –       –       –       –  
    Pre-tax, pre-provision income net of goodwill (non-GAAP) $ 2,301     $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Adjusted return on average shareholders’ equity (non-GAAP) (1)   9.04 %     8.42 %     5.21 %     8.04 %     11.14 %
                             
    (1) Annualized.                
                     
                           
    SUMMIT STATE BANK
    STATEMENTS OF INCOME
    (In thousands except earnings per share data)
                           
                           
              Three Months Ended   Year Ended
              December 31, 2024   December 31, 2023   December 31, 2024   December 31, 2023
              (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                           
    Interest and dividend income:              
      Interest and fees on loans $ 13,623     $ 13,409     $ 53,574     $ 52,560  
      Interest on deposits with banks   655       792       2,060       4,410  
      Interest on investment securities   530       712       2,614       2,855  
      Dividends on FHLB stock   127       123       514       416  
          Total interest and dividend income   14,935       15,036       58,762       60,241  
    Interest expense:              
      Deposits     7,099       7,113       28,495       24,227  
      Federal Home Loan Bank advances   6       –       337       177  
      Junior subordinated debt   128       94       454       375  
          Total interest expense   7,233       7,207       29,286       24,779  
          Net interest income before provision for credit losses   7,702       7,829       29,476       35,462  
    Provision for (reversal of) credit losses on loans   6,570       (31 )     7,882       342  
    Provision for (reversal of) credit losses on unfunded loan commitments   154       (65 )     55       (68 )
    (Reversal of) provision for credit losses on investments   (2 )     31       (22 )     58  
          Net interest income after provision for (reversal of) credit              
            losses, unfunded loan commitments and investments   980       7,894       21,561       35,130  
    Non-interest income:              
      Service charges on deposit accounts   225       219       926       872  
      Rental income   61       54       241       193  
      Net gain on loan sales   857       –       2,114       2,481  
      Net gain on securities   6       –       6       –  
      Net loss on other real estate owned   (693 )     –       (693 )     –  
      FHLB prepayment fee   –       –       –       1,024  
      Other income   224       24       865       631  
          Total non-interest income   680       297       3,459       5,201  
    Non-interest expense:              
      Salaries and employee benefits   3,429       3,044       15,639       15,399  
      Occupancy and equipment   413       386       1,761       1,713  
      Goodwill impairment   4,119       –       4,119       –  
      Other expenses   2,239       2,053       7,889       7,938  
          Total non-interest expense   10,200       5,483       29,408       25,050  
          (Loss) income before provision for income taxes   (8,540 )     2,708       (4,388 )     15,281  
    (Reversal of) provision for income taxes   (1,398 )     807       (195 )     4,459  
          Net (loss) income $ (7,142 )   $ 1,901     $ (4,193 )   $ 10,822  
                           
    Basic (loss) earnings per common share $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
    Diluted (loss) earnings per common share $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
                           
    Basic weighted average shares of common stock outstanding   6,719       6,698       6,714       6,695  
    Diluted weighted average shares of common stock outstanding   6,719       6,698       6,714       6,698  
                                   
       
    SUMMIT STATE BANK  
    BALANCE SHEETS  
    (In thousands except share data)  
                   
            December 31, 2024   December 31, 2023  
            (Unaudited)   (Unaudited)  
                   
    ASSETS        
                   
    Cash and due from banks $ 51,403   $ 57,789  
          Total cash and cash equivalents   51,403     57,789  
                   
    Investment securities:        
      Available-for-sale, less allowance for credit losses of $36 and $58        
        (at fair value; amortized cost of $80,887 in 2024 and $97,034 in 2023)   68,228     84,546  
                   
    Loans, less allowance for credit losses of $13,693 in 2024 and $15,221 in 2023   905,075     938,626  
    Bank premises and equipment, net   5,155     5,316  
    Investment in Federal Home Loan Bank (FHLB) stock, at cost   5,889     5,541  
    Goodwill     –     4,119  
    Other real estate owned   4,437     –  
    Affordable housing tax credit investments   7,413     8,405  
    Accrued interest receivable and other assets   19,494     18,166  
                   
          Total assets $ 1,067,094   $ 1,122,508  
                   
    LIABILITIES AND        
    SHAREHOLDERS’ EQUITY        
                   
    Deposits:          
      Demand – non interest-bearing $ 185,756   $ 201,909  
      Demand – interest-bearing   193,355     244,748  
      Savings   47,235     54,352  
      Money market   226,879     212,278  
      Time deposits that meet or exceed the FDIC insurance limit   70,717     63,159  
      Other time deposits   238,620     233,247  
          Total deposits   962,562     1,009,693  
                   
    FHLB advances   –     –  
    Junior subordinated debt, net   5,935     5,920  
    Affordable housing commitment   511     4,094  
    Accrued interest payable and other liabilities   6,363     5,123  
                   
          Total liabilities   975,371     1,024,830  
                   
          Total shareholders’ equity   91,723     97,678  
                   
          Total liabilities and shareholders’ equity $ 1,067,094   $ 1,122,508  
                   
     
    Financial Summary
    (In thousands except per share data)
                     
        As of and for the   As of and for the
        Three Months Ended   Year Ended
        December 31, 2024   December 31, 2023   December 31, 2024   December 31, 2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    Statement of Income Data:                
    Net interest income   $ 7,702     $ 7,829     $ 29,476     $ 35,462  
    Provision for (reversal of) credit losses on loans     6,570       (31 )     7,882       342  
    Provision for (reversal of) credit losses on unfunded loan commitments   154       (65 )     55       (68 )
    (Reversal of) provision for credit losses on investments     (2 )     31       (22 )     58  
    Non-interest income     680       297       3,459       5,201  
    Non-interest expense     10,200       5,483       29,408       25,050  
    (Reversal of) provision for income taxes     (1,398 )     807       (195 )     4,459  
    Net (loss) income   $ (7,142 )   $ 1,901     $ (4,193 )   $ 10,822  
                     
    Selected per Common Share Data:                
    Basic (loss) earnings per common share   $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
    Diluted (loss) earnings per common share   $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
    Dividend per share   $ –     $ 0.12     $ 0.28     $ 0.48  
    Book value per common share (1)   $ 13.53     $ 14.40     $ 13.53     $ 14.40  
                     
    Selected Balance Sheet Data:                
    Assets   $ 1,067,094     $ 1,122,508     $ 1,067,094     $ 1,122,508  
    Loans, net     905,075       938,626       905,075       938,626  
    Deposits     962,562       1,009,693       962,562       1,009,693  
    Average assets     1,098,885       1,123,057       1,091,045       1,142,790  
    Average earning assets     1,064,872       1,089,808       1,058,766       1,110,801  
    Average shareholders’ equity     101,307       94,096       99,080       93,621  
    Nonperforming loans     27,754       44,206       27,754       44,206  
    Other real estate owned     4,437       –       –       –  
    Total nonperforming assets     32,191       44,206       32,191       44,206  
                     
    Selected Ratios:                
    (Loss) return on average assets (2)     -2.59 %     0.67 %     -0.38 %     0.95 %
    (Loss) return on average shareholders’ equity (2)     -28.05 %     8.02 %     -4.23 %     11.56 %
    Efficiency ratio (3)     121.78 %     67.47 %     89.31 %     61.60 %
    Net interest margin (2)     2.88 %     2.85 %     2.78 %     3.19 %
    Common equity tier 1 capital ratio     10.14 %     9.90 %     10.14 %     9.90 %
    Tier 1 capital ratio     10.14 %     9.90 %     10.14 %     9.90 %
    Total capital ratio     11.89 %     11.75 %     11.89 %     11.75 %
    Tier 1 leverage ratio     8.87 %     8.85 %     8.87 %     8.85 %
    Common dividend payout ratio (4)     0.00 %     42.63 %     -45.20 %     30.05 %
    Average shareholders’ equity to average assets     9.22 %     8.38 %     9.08 %     8.19 %
    Nonperforming loans to total loans     3.02 %     4.63 %     3.02 %     4.63 %
    Nonperforming assets to total assets     3.02 %     3.94 %     3.02 %     3.94 %
    Allowance for credit losses to total loans     1.49 %     1.60 %     1.49 %     1.60 %
    Allowance for credit losses to nonperforming loans     49.34 %     34.43 %     49.34 %     34.43 %
             
    (1) Total shareholders’ equity divided by total common shares outstanding.        
    (2) Annualized.        
    (3) Non-interest expenses to net interest and non-interest income, net of securities gains.            
    (4) Common dividends divided by net (loss) income available for common shareholders.        
             

    The MIL Network –

    March 29, 2025

  • MIL-OSI USA: Congressman Garamendi, IAM Union Join Together at Mare Island to Call for Revitalization of U.S. Shipbuilding Industry

    Source: US GOIAM Union

    VALLEJO, Calif. – Today, U.S. Rep. John Garamendi joined the IAM Union (International Association of Machinists and Aerospace Workers) at a press conference at the Mare Island Dry Dock, where they called for a revitalization of the U.S. shipbuilding industry.   

    See photos from the event here.

    Watch the full press conference here.

    “Today, I am honored to stand with American U.S. shipbuilding and maritime industry workers as they fight the heavily subsidized foreign shipyards and unfair trade practices of the People’s Republic of China. American shipbuilders have been hampered by unfair trade practices by the Chinese government. While I’m glad that the federal government is stepping up, more must be done to protect our workers and national security. This is why I, alongside Senator Mark Kelly, Senator Todd Young, and Representative Trent Kelly, introduced the SHIPS for America Act, representing the most substantial and comprehensive approach to rebuilding America’s shipbuilding industry and empowering American workers. American workers in commercial shipyards are essential to supporting our economy and national security. I applaud the IAM and other union representatives as they continue fighting for American shipbuilding jobs,” U.S. Rep. John Garamendi (D-Calif.)  

     “Since 2001, when the Chinese Communist Party (CCP) labeled shipbuilding as a ‘strategic industry,’ there has been a laundry list of China’s unfair, unreasonable, and discriminatory practices. While we support the USTR’s actions so far, more must be done to assure the long-term health of the domestic shipbuilding industry and U.S. economic and national security. Our IAM Union members are ready to build and maintain our 21st century naval and commercial fleet and we remain steadfast in our devotion to that goal.” said IAM Eastern Territory General Vice President David Sullivan.   

    “I’m proud to lead California’s greatest and most historic shipyards, and I stand by the IAM in their fight to revitalize the U.S. Maritime Industry. The contributions of our shipyard workers are the reason for the success of our shipyard, and right now, they are hampered by unfair trade practices by the Chinese government – this must stop. I stand by the IAM Union and Congressman John Garamendi in their fight to uplift and grow our industry,” said Mare Island Dry Dock CEO Stephen DiLeo.     

    “IAM is on the front lines in U.S.’s fight against China’s unfair trade practices and I’m proud to help lead that fight with my entire union by my side. Unions like the IAM aren’t only critical for California’s economy, they are essential in supporting our national economy. Shipyards were once the main path to the middle class; after years of divestment, we can all work together to turn the tide and bring our shipyards back to their past glory,” said IAM Local S25 Chief Steward Kyle March.   

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    MIL OSI USA News –

    March 29, 2025
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