Category: Economy

  • MIL-OSI: United Community Banks, Inc. Announces Date for First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    GREENVILLE, S.C., March 28, 2025 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NYSE: UCB) announces it will release its first quarter 2025 financial results on Tuesday, April 22, 2025, before the stock market opens. The company also will hold a conference call at 9:00 a.m. EST on Tuesday, April 22, 2025, to discuss its financial results, business highlights, and outlook.

    Participants can pre-register for the conference call by navigating to https://dpregister.com/sreg/10198403/fed7e1f137. Those without internet access or unable to pre-register may dial in by calling 1-844-481-1970. Participants are encouraged to dial in 15 minutes prior to the call start time. The conference call also will be webcast and can be accessed by selecting “Events and Presentations” under “News and Events” within the Investor Relations section of the company’s website, ucbi.com.

    About United Community Banks, Inc.

    United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top 100 U.S. financial institution that is committed to improving the financial health and well-being of its customers and the communities it serves. United Community provides a full range of banking, wealth management and mortgage services. As of December 31, 2024, United Community Banks, Inc. had $27.7 billion in assets, 199 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee, as well as a national SBA lending franchise and a national equipment lending subsidiary. In 2025, United Community became an 11-time winner of J.D. Power’s award for the best customer satisfaction among consumer banks in the Southeast region and was recognized as the most trusted bank in the Southeast. Additionally, United was named by American Banker as one of the “Best Banks to Work For” for the eighth consecutive year. In 2025, United was also recognized in the Greenwich Best Bank awards for the ninth consecutive year, receiving five awards that included national honors for overall satisfaction for middle market banking in the U.S. Forbes has also consistently listed United Community as one of the World’s Best Banks and one of America’s Best Banks. Additional information about United can be found at ucbi.com.

    For more information:

    Jefferson Harralson
    Chief Financial Officer
    (864) 240-6208
    Jefferson_Harralson@ucbi.com

    The MIL Network

  • MIL-OSI: Brookfield Real Assets Income Fund Inc. Declares Q2 2025 Distribution Schedule

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 28, 2025 (GLOBE NEWSWIRE) — Brookfield Real Assets Income Fund Inc. (NYSE: RA) (the “Fund”) today announced that its Board of Directors (the “Board”) declared the Fund’s monthly distributions for April, May and June 2025.

    Distribution Schedule

    Month Record Date Ex-Dividend Date Payable Date Amount per Share
    April 2025 April 10, 2025 April 10, 2025 April 24, 2025 $0.1180
    May 2025 May 8, 2025 May 8, 2025 May 22, 2025 $0.1180
    June 2025 June 12, 2025 June 12, 2025 June 26, 2025 $0.1180
             

    Shares purchased on or after the applicable ex-distribution dates will not receive the distributions discussed above. Distributions may include net investment income, capital gains and/or return of capital. Any portion of the Fund’s distributions that is a return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” The Fund’s Section 19a-1 Notice, if applicable, contains additional distribution composition information and may be obtained by visiting https://www.brookfieldoaktree.com/fund/brookfield-real-assets-income-fund-inc. The tax status of distributions will be determined at the end of the taxable year. Based on current estimates, it is anticipated that a portion of the distributions paid in calendar year 2025 will be treated for U.S. federal income tax purposes as a return of capital. The final determination of the tax status of those 2025 distributions will be made in early 2026 and provided to stockholders on Form 1099-DIV. Please contact your financial advisor with any questions.

    Brookfield Real Assets Income Fund Inc. is managed by Brookfield Public Securities Group LLC. The Fund uses its website as a channel of distribution of material information about the Fund. Financial and other material information regarding the Fund is routinely posted on and accessible at https://www.brookfieldoaktree.com/fund/brookfield-real-assets-income-fund-inc

    Investing involves risk; principal loss is possible. Past performance is not a guarantee of future results.

    Brookfield Real Assets Income Fund Inc. is distributed by Foreside Fund Services, LLC.

    The MIL Network

  • MIL-OSI Europe: Written question – Immediate impact of US funding cuts on civil society and LGBTI+ rights in the Western Balkans and Türkiye – E-001190/2025

    Source: European Parliament

    Question for written answer  E-001190/2025
    to the Commission
    Rule 144
    Raquel García Hermida-Van Der Walle (Renew)

    Recently, the US has stopped funding LGBTI+ civil society organisations (CSOs) in the Western Balkans and Türkiye. This withdrawal has forced several organisations to shut down and has put activists at direct risk of persecution as local governments intensify their crackdowns on civil society. Anti-LGBTI+ and nationalist groups are already exploiting this crisis to further discredit and attack these organisations. Without an immediate European response, the region’s efforts to promote democracy and human rights will be severely undermined[1].

    • 1.Does the Commission agree that the work of LGBTI+ organisations in the Western Balkans and Türkiye is crucial, particularly in the context of their EU accession process and duty to comply with the fundamental values enshrined in Article 2 of the Treaty on European Union?
    • 2.How will the Commission ensure that LGBTI+ organisations in the Western Balkans and Türkiye are sufficiently funded to prevent closures and lay-offs, and will the Commission consider expanding eligibility criteria for EU funding to ensure that LGBTI+ organisations can get better access to financial recourses? If not, why not?
    • 3.What other measures will the Commission take to counter the growing anti-LGBTI+ rhetoric that is being used to undermine CSOs in the Western Balkans and Türkiye, which embodies discriminatory policies and further stigmatises human rights defenders, creating a chilling effect on activism and advocacy efforts?

    Submitted: 20.3.2025

    • [1] ERA – LGBTI Equal Rights Association for Western Balkans and Turkey: Impacts of U.S. funding cuts on LGBTI+ rights organizations in the Western Balkans and Türkiye: https://drive.google.com/file/d/1BcOtAM49adb5MJZQP_v–BLAZXD8K5oK/view.
    Last updated: 28 March 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Mediterranean Pact and the situation of Christians in the region – P-000187/2025(ASW)

    Source: European Parliament

    The New Pact for the Mediterranean[1] will strive to refocus the partnership with the Southern Neighbourhood region around mutual interests and with a clear objective to put people at the centre.

    The Mediterranean region is home to an exceptional cultural and religious diversity. Upholding the EU values of respect for human dignity, freedom, democracy, equality, and the rule of law will remain at the core of the engagement.

    In partnership with regional counterparts, the Commission will aim at co-creating an inclusive framework that safeguards the rights of all individuals.

    Through open dialogue and mutual understanding, the Commission will work to strengthen protection for vulnerable groups against persecution, discrimination, violence, and forced displacement.

    The EU has all the assets to support the right of people in the Middle East, regardless their religious belonging, to live in peace and security, and it will make sure to use its voice to uphold fundamental values.

    The Commission will reinforce its role as an essential actor of constructive dialogue with governments, religious leaders and civil society organisations, to promote mutual understanding, tolerance and respect for human rights.

    Providing financial and technical assistance to support projects and initiatives that promote intercultural dialogue will remain a core strand of cooperation, while also integrating human rights and protection of minority groups into development programmes and projects across the board.

    • [1] A Joint Communication is under preparation by the European Commission.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – EU-Israel Association Agreement – P-000496/2025(ASW)

    Source: European Parliament

    The EU has reiterated on several occasions its strong opposition to Israel’s settlement policy and repeated actions taken in this context, notably demolitions and confiscations including of EU-funded assets, issuing numerous statements regretting the demolition of Palestinian structures.

    On a number of occasions, Israel has been requested to provide restitution of, or compensate for, EU funded assets that have been demolished, dismantled or confiscated.

    On the occasion of the 13th EU-Israel Association Council held on 24 February 2025, the EU stated that it strongly condemns the demolitions of the structures funded by the EU or its Member States and expects that Israel make good the damage in accordance with international law[1].

    On a yearly basis, the EU publishes the ‘Report on demolitions and seizures in the West Bank including East Jerusalem’ (latest released on November 2024[2]), which includes the number of structures demolished or seized and the total financial loss. Between 2015 and 2023, 927 structures have been demolished or seized for a total financial loss of EUR 2 902 099.

    The EU has consistently raised with Israel the need to meet its obligations under international law towards the Palestinian population in the occupied West Bank, including in Area C and East Jerusalem.

    The EU has conducted public advocacy that includes frequent visits of various sites in the occupied Palestinian territories by the EU and its Member States representatives, most recently the diplomatic mission visit to the Al-Bustan-Silwan neighbourhood in East-Jerusalem[3].

    • [1] https://data.consilium.europa.eu/doc/document/ST-6511-2025-INIT/en/pdf
    • [2] https://www.eeas.europa.eu/sites/default/files/documents/2024/One%20Year%20Report%20on%20Demolitions%20and%20Seizures%20in%20the%20West%20Bank%20including%20East%20Jerusalem%20-%201%20January%20%2031%20December%202023.pdf
    • [3] https://www.eeas.europa.eu/delegations/palestine-occupied-palestinian-territory-west-bank-and-gaza-strip/diplomatic-missions-visit-residents-al-bustan-silwan-neighborhood-east-jerusalem-threatened-imminent_en
    Last updated: 28 March 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Transparency and accountability over EU funds for Ukraine – E-000497/2025(ASW)

    Source: European Parliament

    EU financial assistance to Ukraine follows a control framework with both internal and external controls, which includes checks by the Commission before making payments, expenditure verifications by independent auditors contracted by the Commission, audits by the European Court of Auditors on expenditure and performance, and administrative and criminal investigations by the Anti-Fraud Office and the European Public Prosecutor’s Office.

    With the establishment of the Ukraine Facility[1], the Commission has even more robust powers to exercise audit and control, which became binding on Ukraine with the framework Agreement between the Union and Ukraine[2].

    An independent Audit Board[3] assists the Commission in assessing the effectiveness of Ukraine’s management and control systems for the funds provided under the Ukraine Facility.

    In implementing the Ukraine Facility, the Commission and Ukraine are taking appropriate measures to protect the financial interests of the Union.

    The Commission conducts comprehensive ex ante controls prior to any payment requests submitted by Ukraine. Following the disbursement, the Commission also carries out risk-based ex-post audits on Ukraine Plan steps.

    Regarding the future reconstruction of Ukraine, it is currently too early to provide specific details on costs and the involvement of various donors.

    The Commission will continue to collaborate with Ukraine and its partners to support recovery and reconstruction efforts, particularly through the Ukraine Donor Platform.

    • [1] https://eur-lex.europa.eu/eli/reg/2024/792/oj/eng
    • [2] Commission Decision C(2024)3456 of 17 May 2024 approving the framework Agreement between the European Union and Ukraine laying down the principles of financial cooperation under the Ukraine Facility.
    • [3] https://eur-lex.europa.eu/eli/dec_impl/2024/1697/oj/eng
    Last updated: 28 March 2025

    MIL OSI Europe News

  • MIL-OSI Canada: Prime Minister Carney meets with premiers to discuss Canada’s response to U.S. tariffs

    Source: Government of Canada – Prime Minister

    Today, Prime Minister Mark Carney met virtually with provincial and territorial premiers to discuss Canada’s co-ordinated response to the United States’ unjustified tariffs against Canadian goods, including the recently announced U.S. tariffs on imported automobiles and auto-parts. The Prime Minister was joined by the Minister of International Trade and Intergovernmental Affairs and President of the King’s Privy Council for Canada, Dominic LeBlanc.

    Canada’s First Ministers stand united against this unjustified U.S. trade action and are committed to defending Canadian businesses, workers, and families affected by this threat.

    Prime Minister Carney updated the premiers on his conversation with the President of the United States, Donald J. Trump, earlier today. The Prime Minister and the premiers discussed the path forward to respond to the evolving tariff threat by strengthening the Canadian economy, including through work to unlock economic projects and remove interprovincial trade barriers. Prime Minister Carney underscored the Government of Canada’s resolve to continue fighting against the unjust tariffs and protect Canadians.

    Prime Minister Carney committed to continuing to convene with the premiers in the weeks ahead.

    Associated Links

    MIL OSI Canada News

  • MIL-OSI Security: Statement Of Acting U.S. Attorney Matthew Podolsky On The Convictions Of Charlie Javice And Olivier Amar

    Source: Office of United States Attorneys

    “Today, a unanimous jury found Charlie Javice and Olivier Amar guilty of orchestrating a brazen fraud. Javice, the founder and CEO of Frank, falsely claimed that her company had millions of customers when, in reality, it had just a fraction of that number. She and Amar, the Chief Growth Officer, fabricated data, lied to major financial institutions, and sold their business for $175 million. And while Javice and Amar may have thought that they could lie and cheat their way to a huge payday, their lies caught up with them, and they now stand convicted by a jury of their peers in federal court. 

    This Office will continue to pursue financial fraud aggressively and hold accountable those who put greed above honesty. I commend the career prosecutors of this Office and our law enforcement partners who worked tirelessly to bring this case to trial and secure today’s verdict. Thanks to their efforts, Javice and Amar will now pay a steep price for their lies. ”

    MIL Security OSI

  • MIL-OSI: Ambow Education Announces Second Half and Full-Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., March 28, 2025 (GLOBE NEWSWIRE) — Ambow Education Holding Ltd. (NYSE American: AMBO) (“Ambow” or the “Company”), an AI-driven educational technology company, today announced its financial and operating results for the 2024 second half1 and full fiscal year,2 ended December 31, 2024.

    “In 2024, we achieved full-year profitability and reached key milestones that position us for sustained long-term growth, driven by our sharpened focus on HybriU adoption,” said Dr. Jin Huang, Ambow’s President, Chief Executive Officer, and acting Chief Financial Officer. “We increased revenue, improved margins and strengthened profitability throughout the year, highlighted by a $1.3 million HybriU licensing agreement in the fourth quarter—marking our continued expansion into international markets.”

    HybriU is a cutting-edge, AI-powered phygital (physical + digital) innovation that transforms education, corporate conferencing and events by seamlessly integrating the physical and digital worlds for a smarter, more immersive experience. Designed to bridge the gap between in-person and remote interaction, HybriU delivers real-time AI automation, immersive engagement and intelligent collaboration across industries.

    In the education sector, HybriU offers the only patented, plug-and-play solution that seamlessly integrates lecture capture, connectivity, AI, immersive technologies and big data analytics. This all-in-one platform simplifies deployment while delivering a rich, connected and data-informed phygital learning experience.

    “Looking ahead to 2025, we will accelerate HybriU’s adoption across U.S. and international markets and further enhance our AI capabilities to deliver greater value to our partners. With a strong financial foundation, a lean operational structure, favorable AI tailwinds and a differentiated first-to-market solution, we are well-positioned to drive continued growth and increasing profitability,” Dr. Huang concluded.

    Fourth Quarter 2024 Financial Highlights

    • Net revenues in the fourth quarter of 2024 were $3.5 million, compared with $2.4 million in the same period of 2023. The increase was primarily due to the launch of HybriU.
    • Gross profit in the fourth quarter of 2024 was $2.3 million, compared with $1.2 million in the same period of 2023. Gross profit margin was 65.7%, compared with 50.0% in the fourth quarter of 2023.
    • Operating expenses in the fourth quarter of 2024 decreased by 13.3% to $1.3 million from $1.5 million in the same period of 2023. The decrease was primarily due to reduction in shared center expenses.
    • Operating income in the fourth quarter of 2024 improved to $1.0 million, compared with an operating loss of $0.3 million in the same period of 2023.
    • Net income attributable to the Company’s ordinary shareholders was $1.3 million, or $0.02 per basic and diluted share for the fourth quarter of 2024 and 2023.

    1 Financial results for the second half of 2024 have not been audited or reviewed by the Company’s independent registered accounting firm.

    2 Financial results for the full fiscal year ended December 31, 2024 have been audited by the Company’s independent registered accounting firm.

    Fiscal Year 2024 Financial Highlights

    • Net revenues in fiscal year 2024 increased by 2.2% to $9.4 million from $9.2 million in 2023. The increase was primarily driven by revenue growth from the launch of HybriU, while partially offset by the closure of Bay State College.
    • Gross profit in fiscal year 2024 was $5.0 million, increasing from $2.5 million in 2023. The increase was primarily attributable to an increase in net revenues from HybriU and a reduction in payroll expenses and teaching costs upon the closure of Bay State College.
    • Operating expenses in fiscal year 2024 decreased by 16.2% to $5.7 million from $6.8 million in 2023. The decrease was primarily driven by reduced payroll expenses following the closure of Bay State College.
    • Operating loss in fiscal year 2024 narrowed to $0.7 million, compared with a loss of $4.3 million in 2023.
    • Net income attributable to the Company’s ordinary shareholders in fiscal year 2024 was $0.3 million, or $0.005 per basic and diluted share, compared with a net loss of $3.2 million, or $0.06 per basic and diluted share in 2023.
    • As of December 31, 2024, Ambow maintained solid cash resources of $8.4 million, including cash and cash equivalents of $1.1 million and restricted cash of $7.3 million.

    Contingencies

    We are currently involved in two lawsuits concerning our leased property. Filed on July 15, 2024, by Art Block Investors, LLC et al., in the San Diego Superior Court (the “Court”), this unlawful detainer action seeks possession of premises occupied by NewSchool and recovery of $2,255,984.44 in past rent and common area maintenance (CAM) fees. Following trial, the Court issued a Proposed Statement of Decision awarding the plaintiffs possession and damages, with attorney’s fees and costs (estimated $80,000–$100,000) to be determined. NewSchool has objected, but judgment is expected within 30 days, followed by a motion for fees. In addition, filed on September 6, 2024, in the San Diego Superior Court, Art Block Investors, LLC et al. alleges breach of contract and guaranty against NewSchool and Ambow Education Holdings Ltd., seeking $4,466,247.80, potentially offset by amounts recovered in the first lawsuit. We, as defendants, have answered and are contesting the claims; no pretrial or trial dates have been set. The Company continues to evaluate these matters. A reasonable estimate of the amount of any possible loss or range of loss cannot be made as of December 31, 2024.

    About Ambow

    Ambow Education Holding Ltd. is a U.S.-based, AI-driven technology company offering phygital (physical + digital) solutions for education, corporate conferencing and live events. Through its flagship platform, HybriU, Ambow is shaping the future of learning, collaboration and communication—delivering immersive, intelligent and real-time experiences across industries. For more information, visit Ambow’s corporate website at https://www.ambow.com/.

    Follow us on X: @Ambow_Education
    Follow us on LinkedIn: Ambow-education-group

    Safe Harbor Statement

    This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Ambow and the industry. All information provided in this press release is as of the date hereof, and Ambow undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Ambow believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

    For more information, please contact:
    Ambow Education Holding Ltd.
    E-mail: ir@ambow.com

    or

    Piacente Financial Communications
    Tel: +1 212 481 2050
    E-mail: ambow@tpg-ir.com

     
    AMBOW EDUCATION HOLDING LTD.
    CONSOLIDATED BALANCE SHEETS
    (All amounts in thousands, except for share and per share data)
     
        As of
    December 31,
        As of
    December 31,
     
        2023     2024  
        As Revised        
    ASSETS            
    Current assets:            
    Cash and cash equivalents   $ 274     $ 1,123  
    Restricted cash     9,781       7,318  
    Accounts receivable, net     2,280       2,541  
    Prepaid and other current assets     178       659  
    Total current assets     12,513       11,641  
    Non-current assets:                
    Property and equipment, net     6       1,200  
    Intangible assets, net     522       512  
    Operating lease right-of-use asset     4,896       2,722  
    Other non-current assets, net     2,629       1,296  
    Total non-current assets     8,053       5,730  
                     
    Total assets   $ 20,566     $ 17,371  
                     
    LIABILITIES                
    Current liabilities:                
    Short-term borrowings     3,939       2,700  
    Accounts payable     1,386       749  
    Accrued and other liabilities     1,468       1,029  
    Income taxes payable, current     510       12  
    Operating lease liability, current     2,486       2,357  
    Total current liabilities     9,789       6,847  
    Non-current liabilities:                
    Operating lease liability, non-current     4,349       3,787  
    Total non-current liabilities     4,349       3,787  
                     
    Total liabilities   $ 14,138     $ 10,634  
                     
    EQUITY                
    Preferred shares                
    (US$ 0.003 par value; 1,666,667 shares authorized, nil issued and outstanding as of December 31, 2023 and 2024)            
    Class A Ordinary shares                
    (US$ 0.003 par value; 66,666,667 and 66,666,667 shares authorized; 52,419,109 and 52,419,109 shares issued and outstanding as of December 31, 2023 and 2024, respectively)     146       146  
    Class C Ordinary shares                
    (US$ 0.003 par value; 8,333,333 and 8,333,333 shares authorized; 4,708,415 and 4,708,415 shares issued and outstanding as of December 31, 2023 and 2024, respectively)     13       13  
    Additional paid-in capital     517,031       517,031  
    Accumulated deficit     (510,634 )     (510,325 )
    Accumulated other comprehensive income     (128 )     (128 )
    Total equity     6,428       6,737  
    Total liabilities and equity   $ 20,566     $ 17,371  
     
    AMBOW EDUCATION HOLDING LTD.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
    (All amounts in thousands, except for share and per share data)
     
        For the three months ended
    September 30,
        For the three months ended
    December 31,
     
        2023     2024     2023     2024  
    NET REVENUES                        
    Educational program and services   $ 671     $ 1,168     $ 2,395     $ 1,527  
    HybriU licensing                       1,924  
    Total net revenues     671       1,168       2,395       3,451  
    COST OF REVENUES                                
    Educational program and services     (1,400 )     (1,004 )     (1,187 )     (1,193 )
                                     
    GROSS (LOSS) PROFIT     (729 )     164       1,208       2,258  
    Operating expenses:                                
    Selling and marketing     (330 )     (236 )     (296 )     (227 )
    General and administrative     (903 )     (1,004 )     (912 )     (974 )
    Research and development     (242 )     (144 )     (242 )     (144 )
    Total operating expenses     (1,475 )     (1,384 )     (1,450 )     (1,345 )
                                     
    OPERATING LOSS (INCOME)     (2,204 )     (1,220 )     (242 )     913  
                                     
    OTHER INCOME (EXPENSES)                                
    Interest (expenses) income     (39 )     (114 )     15       (15 )
    Foreign exchange gain (loss), net     21             (12 )      
    Other (expenses) income, net     (12 )     146       94       49  
    Gain on disposal of assets                 1,400        
    Total other (expenses) income     (30 )     32       1,497       34  
    (LOSS) INCOME BEFORE INCOME TAX AND NON-CONTROLLING INTEREST     (2,234 )     (1,188 )     1,255       947  
    Income tax (expenses) benefit     (1 )                 334  
    NET (LOSS) INCOME   $ (2,235 )   $ (1,188 )   $ 1,255     $ 1,281  
    Less: Net (loss) income attributable to non-controlling interests                        
    NET (LOSS) INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS     (2,235 )     (1,188 )     1,255       1,281  
                                     
    OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX                        
                                     
    TOTAL COMPREHENSIVE (LOSS) INCOME     (2,235 )     (1,188 )     1,255       1,281  
                                     
    Net (loss) income per share – basic and diluted   $ (0.04 )   $ (0.02 )   $ 0.02     $ 0.02  
    Net (loss) income per ADS – basic and diluted   $ (0.78 )   $ (0.42 )   $ 0.44     $ 0.45  
                                     
    Weighted average shares used in calculating basic and diluted net (loss) income per share     57,127,524       57,127,524       52,127,524       57,127,524  
     
    AMBOW EDUCATION HOLDING LTD.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (All amounts in thousands, except for share and per share data)
     
        For the years ended December 31,  
        2023     2024  
    NET REVENUES            
    Educational program and services   $ 9,163     $ 7,468  
    HybriU licensing           1,924  
    Total net revenues   $ 9,163       9,392  
    COST OF REVENUES                
    Educational program and services     (6,669 )     (4,405 )
                     
    GROSS PROFIT     2,494       4,987  
    Operating expenses:                
    Selling and marketing     (1,051 )     (1,013 )
    General and administrative     (5,264 )     (4,258 )
    Research and development     (484 )     (438 )
    Total operating expenses     (6,799 )     (5,709 )
                     
    OPERATING LOSS     (4,305 )     (722 )
                     
    OTHER INCOME (EXPENSES)                
    Interest expenses     (57 )     (63 )
    Other (expenses) income, net     (199 )     255  
    Gain on disposal of assets     1,400        
    Total other income     1,144       192  
                     
    LOSS BEFORE INCOME TAX AND NON-CONTROLLING INTEREST     (3,161 )     (530 )
    Income tax (expenses) benefit     (14 )     839  
    NET (LOSS) INCOME   $ (3,175 )   $ 309  
    Less: Net (loss) income attributable to non-controlling interests            
    NET (LOSS) INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS     (3,175 )     309  
                     
    OTHER COMPREHENSIVE LOSS, NET OF TAX            
                     
    TOTAL COMPREHENSIVE LOSS     (3,175 )     309  
                     
    Net (loss) income per share – basic and diluted   $ (0.06 )   $ 0.0054  
    Net (loss) income per ADS – basic and diluted   $ (1.20 )   $ 0.1080  
                     
    Weighted average shares used in calculating basic and diluted net (loss) income per share     56,333,003       57,127,524  

    The MIL Network

  • MIL-OSI Security: Ponce Man and Local Business Indicted for Bank Fraud

    Source: Office of United States Attorneys

    SAN JUAN, Puerto Rico – A Ponce man was arrested on March 25, 2025, on criminal charges related to various schemes involving bank fraud and money laundering. One company that he operated, Rossy Sport Bar Panorámico, LLC, was also indicted for its role in the bank fraud scheme.

    According to court documents, in 2020 and 2022, Melvin E. Rivera-Oliveras, 40, executed a scheme and artifice to defraud multiple federally insured financial institutions in Puerto Rico. Rivera-Oliveras attempted to conduct fraudulent refund transactions for more than $7 million using multiple debit cards at various companies that he managed and operated.

    After acquiring point of sale (POS) systems, Rivera-Oliveras conducted fraudulent refund transactions and was able to gain temporary access to the funds and to spend a portion of the funds that did not belong to him.

    In July 2022, Rivera-Oliveras submitted fraudulent transactions in an attempt to obtain over $270,000 via fraudulent refund transactions using a debit card associated with Rossy Sport Bar Panorámico, which was another company he was managing. The proceeds of that scheme were deposited into an account held by Rossy Sport Bar Panorámico.

    With the proceeds of these crimes, Rivera-Oliveras purchased multiple vehicles, including a Cadillac CTS, a Ford Transit Connect XL, and a Mercedes Benz C Class. In addition, Rivera-Oliveras made multiple bank transactions in excess of $10,000.

    “The defendant created and executed a complex scheme to defraud banks and businesses,” said W. Stephen Muldrow, United States Attorney for the District of Puerto Rico. “I commend the FBI agents and law enforcement partners who uncovered this web of illegal financial transactions.”

    “These crimes strike at the heart of public trust and financial stability. Bank fraud may not always leave a specific victim with empty pockets, but make no mistake, it erodes the very systems that uphold our economy,” said Devin J. Kowalski, Acting Special Agent in Charge of the FBI’s San Juan Field Office. “Thanks to the outstanding work of our agents and partners, this scheme was uncovered. To those who believe they can conceal their fraud behind layers of deception, know that the FBI will not rest until you are brought to justice.”

    If convicted, Rivera-Oliveras faces the following penalties: up to 30 years in prison for bank and wire fraud; and up to ten years for money laundering. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The Federal Bureau of Investigation is in charge of the investigation of the case.

    Assistant U.S. Attorney Marie Christine Amy from the Financial Fraud & Public Corruption Section is prosecuting the case.

    A criminal complaint is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    ###

    MIL Security OSI

  • MIL-OSI Security: 20 Defendants – Convicted Felons Included – Charged Federally with Being Illegal Aliens Found in the United States Following Removal

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    LOS ANGELES – This week, federal prosecutors working with United States Immigration and Customs Enforcement (ICE) and other federal law enforcement partners filed criminal charges against 20 defendants who allegedly were found in the U.S. following removal, the Justice Department announced today.

    Many of the defendants charged previously were convicted of felony offenses before they were removed from the United States, offenses that include vandalism and firearms crimes.

    One of the defendants, Antonio Espinoza Zarate, 55, a.k.a. “El Gato,” of the Mar Vista neighborhood of Los Angeles, was arrested Wednesday on a federal criminal complaint alleging he sold two kilograms of fentanyl pills to a buyer from July 2023 to February 2025 and charging him with illegally re-entering the U.S. following removal and possession with intent to distribute fentanyl. A federal magistrate judge ordered him jailed without bond a scheduled an April 15 arraignment for him in United States District Court in downtown Los Angeles. Assistant United States Attorney Diane B. Roldán of the Violent and Organized Crime Section is prosecuting Espinoza.

    Espinoza is a citizen of Mexico who has been previously deported in 2010, 2013, 2014, and 2017 and illegally reentered the United States following his removals, according to court documents. His criminal history includes felony convictions in 2008 in Los Angeles Superior Court for possession of narcotics for sale and in 2015 in U.S. District Court for the District of Arizona for illegal reentry of a removed alien.

    The investigation was conducted by the Homeland Security Investigations (HSI)-led El Camino Real Financial Crimes Task Force, a multi-agency task force that includes federal and state investigators who are focused on financial crimes in Southern California, with support from special agents with the United States Attorney’s Office for the Central District of California – Criminal Investigative Division; and the Bureau of Alcohol, Tobacco, Firearms and Explosives, with assistance from the Los Angeles Police Department regarding dangers to the community from the sales of narcotics and firearms.

    The crime of being found in the United States following removal carries a base sentence of up to two years in federal prison. Defendants who were removed after being convicted of a felony face up to 10 years in federal prison. Defendants removed after being convicted of an aggravated felony face a statutory maximum sentence of 20 years in federal prison.

    Some of the other recently filed cases are summarized below with information contained in court documents.

    • Efrén García Jiménez, 24, of Mexico, was charged via a federal criminal complaint with being an illegal alien found in the United States after removal.  García Jiménez, who was removed from the U.S. in 2019, was charged after being convicted in Orange County Superior Court on January 24 of discharging a firearm at an inhabited residence and vandalism, for which he was sentenced to three years in California state prison. Assistant United States Attorney Melissa S. Rabbani of the Orange County Office is prosecuting this case.
    • Aristeo González Rosas, 24, of Mexico, was charged via a federal criminal complaint with being an illegal alien found in the United States after removal. González Rosas was federally charged after he was arrested on February 15 in Ventura County. Prior to this arrest, González Rosas was convicted in 2022 in Ventura County Superior Court of carrying a loaded firearm with a large capacity magazine, for which he was sentenced to eight months’ imprisonment, and again in Ventura County Superior Court in 2023 of being a felon/addict in possession of a firearm, for which he was sentenced to 16 months in California state prison. He was removed from the U.S. on August 31, 2024, and was removed again on September 5, 2024. Assistant United States Attorney Cameron C. Vanderwall of the Domestic Security and Immigration Crimes Section is prosecuting this case.

    In another matter, a federal grand jury on Tuesday indicted Kevin Mauricio Ballardo-García, 24, a Mexican national, for allegedly transporting 148.12 kilograms (326.6 pounds) of methamphetamine from Mexico into Southern California. During a traffic stop in Westminster on March 11, law enforcement seized 13 buckets and one water container that held liquid methamphetamine from Ballardo-García’s Jeep Wrangler. He was ordered jailed without bond and his arraignment is scheduled for March 31 in United States District Court in Santa Ana. He is charged with one count of possession with intent to distribute methamphetamine. Assistant United States Attorney Robert J. Keenan of the Orange County Office is prosecuting this matter.

    Criminal complaints and indictments contain allegations. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    ICE and Homeland Security Investigations are investigating these matters. The Drug Enforcement Administration is investigating the Ballardo-García case with assistance from California Highway Patrol and the Irvine Police Department.

    These cases are part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETF) and Project Safe Neighborhood (PSN).

    MIL Security OSI

  • MIL-OSI: Conifer Holdings Reports 2024 Fourth Quarter and Year End Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TROY, Mich., March 28, 2025 (GLOBE NEWSWIRE) — Conifer Holdings, Inc. (Nasdaq: CNFR) (“Conifer” or the “Company”) today announced results for the fourth quarter and year ended December 31, 2024.  

    Year End 2024 Financial Highlights

    • Net income allocable to common shareholders of $23.5 million
    • $61 Million gain on sale of insurance agency operations in August 2024
    • Continuing Personal Lines business profitable for the fourth quarter of 2024
    • Book value per share of $1.76 as of December 31, 2024

    Management Comments

    Brian Roney, CEO of Conifer, commented, “2024 was indeed a transitional year for Conifer Holdings as we successfully sold our insurance agency operations, paid down considerable debt, further strengthened reserves, streamlined our organization overall, and focused our production efforts on select personal lines going forward.”

    Reduction of Commercial Lines Business

    For the full year 2024, total Gross Written Premium was down almost 50% from the prior year, and Net Earned premium was down 27.5% for the same period. As a result of the sale of Conifer’s insurance agency operations, completed in August 2024, we anticipated and planned for this significant decline in Commercial Lines revenue. We expect Commercial Lines business to represent a diminishing percentage of total gross written premium going forward.

    Future premiums are expected to consist primarily of Personal Lines business, notably our homeowner’s insurance portfolio in Texas and the Midwest. As detailed in the Personal Lines results overview below, gross written premium for those lines of business for the fourth quarter of 2024 increased 10.6% from the prior year period and increased 23.4% for the full year 2024 over the prior year.

    Additional information regarding the disposal of Conifer’s agency business and its impact on future Company operations can be found in the Company’s 2024 Annual Report to be filed March 28, 2025 on Form 10-K.

    2024 Fourth Quarter and Full Year Financial Results Overview

           
      At and for the
    Three Months Ended December 31,
      At and for the
    Year Ended December 31,
      2024   2023   % Change
      2024   2023   % Change
      (dollars in thousands, except share and per share amounts)
                           
    Gross written premiums $ 13,683     $ 24,398     -43.9 %   $ 72,053     $ 143,834     -49.9 %
    Net written premiums   9,526       15,329     -37.9 %     49,338       68,688     -28.2 %
    Net earned premiums   12,708       14,821     -14.3 %     60,862       83,935     -27.5 %
                           
    Net investment income   1,352       1,411     -4.2 %     5,763       5,447     5.8 %
    Net realized investment gains (losses)         (20 )   **     (125 )     (20 )   **
    Change in fair value of equity investments   (21 )     13     261.5 %     (203 )     608     -133.4 %
                           
    Net income (loss) allocable to common shareholders   (25,382 )     (19,479 )   -30.3 %     23,530       (25,923 )   **
     Net income (loss) allocable to common shareholders $ (2.08 )   $ (1.59 )   -30.3 %   $ 1.93     $ (2.12 )    
     per share, diluted                      
                           
    Adjusted operating income (loss)*   (25,821 )     (19,411 )   -33.0 %     (34,558 )     (27,867 )   -24.0 %
     Adjusted operating income (loss) per share, diluted* $ (2.11 )   $ (1.59 )   -32.7 %   $ (2.83 )   $ (2.28 )   -24.1 %
                           
    Book value per common share outstanding $ 1.76     $ 0.24         $ 1.76     $ 0.24      
                           
    Weighted average shares outstanding, basic and diluted   12,222,881       12,222,881           12,222,881       12,220,551      
                           
    Underwriting ratios:                      
     Loss ratio (1)   254.6 %     191.1 %         120.2 %     97.8 %    
     Expense ratio (2)   38.3 %     40.6 %         35.8 %     37.1 %    
     Combined ratio (3)   292.9 %     231.7 %         156.0 %     134.9 %    
                           
    * The “Definitions of Non-GAAP Measures” section of this release defines and reconciles data that are not based on generally accepted accounting principles.
    ** Percentage is not meaningful                      
    (1) The loss ratio is the ratio, expressed as a percentage, of net losses and loss adjustment expenses to net earned premiums and other income from underwriting operations.
    (2) The expense ratio is the ratio, expressed as a percentage, of policy acquisition costs and other underwriting expenses to net earned premiums and other income from underwriting operations.
    (3) The combined ratio is the sum of the loss ratio and the expense ratio. A combined ratio under 100% indicates an underwriting profit. A combined ratio over 100% indicates an underwriting loss.
                           

    2024 Fourth Quarter Gross Written Premium

    Gross written premiums decreased 43.9% in the fourth quarter of 2024 to $13.7 million, compared to $24.4 million in the prior year period. This decrease reflects the Company’s operational shift away from commercial lines insurance business given the sale of our agency group earlier in the year.

    Commercial Lines Financial and Operational Review

             
      Three Months Ended December 31,   Year Ended December 31,  
      2024   2023   % Change 2024   2023   % Change
     
      (dollars in thousands)  
                             
    Gross written premiums $ 3,124     $ 14,850     -79.0 %   $ 26,686     $ 107,078     -75.1 %  
    Net written premiums   488       7,009     93.0 %     14,541       36,580     -60.2 %  
    Net earned premiums   4,254       7,296     -41.7 %     28,160       59,221     -52.4 %  
                             
    Underwriting ratios:                        
    Loss ratio   650.8 %     316.7 %         184.8 %     105.7 %      
    Expense ratio   33.8 %     38.4 %         29.8 %     35.5 %      
    Combined ratio   684.6 %     355.1 %         214.6 %     141.2 %      
                             
    Contribution to combined ratio from net                        
    (favorable) adverse prior year development   550.9 %     205.5 %         118.5 %     32.3 %      
                             
    Accident year combined ratio (1)   133.7 %     149.6 %         96.1 %     108.9 %      
                             
    (1) The accident year combined ratio is the sum of the loss ratio and the expense ratio, less changes in net ultimate loss estimates from prior accident year loss reserves. The accident year combined ratio provides management with an assessment of the specific policy year’s profitability and assists management in their evaluation of product pricing levels and quality of business written.  
       
                             

    The Company’s commercial lines production was down 79% for the fourth quarter of 2024 and represented roughly 23% of total gross written premium in quarter. Commercial Lines net earned premium was down 41.7% for the same period. The Commercial Lines loss ratio for the quarter increased significantly as the Company’s management focused on additional commercial lines reserve strengthening overall.

    Personal Lines Financial and Operational Review

                             
      Three Months Ended December 31,   Year Ended December 31,  
      2024   2023   % Change
      2024   2023   % Change
     
      (dollars in thousands)  
                             
    Gross written premiums $ 10,559     $ 9,548     10.6 %   $ 45,367     $ 36,756     23.4 %  
    Net written premiums   9,038       8,320     8.6 %     34,797       32,108     8.4 %  
    Net earned premiums   8,454       7,525     12.3 %     32,702       24,714     32.3 %  
                             
    Underwriting ratios:                        
    Loss ratio   55.2 %     69.0 %         64.6 %     78.9 %      
    Expense ratio   40.6 %     42.7 %         41.1 %     40.7 %      
    Combined ratio   95.8 %     111.7 %         105.7 %     119.6 %      
                             
    Contribution to combined ratio from net                        
    (favorable) adverse prior year development   0.9 %     -2.6 %         0.8 %     -5.6 %      
                             
    Accident year combined ratio   94.9 %     114.3 %         104.9 %     125.2 %      
                             

    Personal Lines premium represented 77% of total gross written premium for the fourth quarter of 2024. Personal Lines production increased 10.6% from the prior year period to $10.6 million for the quarter, led by growth in the Company’s low-value dwelling line of business in Texas and the Midwest.

    Despite storm activity in the full year, the combined ratio for personal lines business improved significantly in 2024 compared to the same period in 2023.

    Combined Ratio Analysis

     
      Three Months Ended
    December 31,

        Year Ended
    December 31,

     
      2024   2023     2024   2023  
         
                       
    Underwriting ratios:                  
    Loss ratio 254.6 %   191.1 %     120.2 %   97.8 %  
    Expense ratio 38.3 %   40.6 %     35.8 %   37.1 %  
    Combined ratio 292.9 %   231.7 %     156.0 %   134.9 %  
                       
    Contribution to combined ratio from net (favorable)                  
    adverse prior year development 185.0 %   100.0 %     55.3 %   21.2 %  
                       
    Accident year combined ratio 107.9 %   131.7 %     100.7 %   113.7 %  
                       

    Net Investment Income
    Net investment income increased 5.8% to $5.8 million for the year ending December 31, 2024, compared to $5.4 million in the prior year period.

    Change in Fair Value of Equity Securities
    During the quarter, the Company reported a loss of $21,000 from the change in fair value of equity investments, compared to a $13,000 gain in the prior year period.

    Net Income (Loss) allocable to common shareholders
    The Company reported a net loss allocable to common shareholders of $25.4 million, or $2.08 per share, for the fourth quarter of 2024. For the full year 2024, the Company reported net income allocable to common shareholders of $23.5 million, or $1.93 per share.

    Adjusted Operating Income (Loss)

    In the fourth quarter of 2024, the Company reported an adjusted operating loss of $25.8 million, or $2.11 per share. See Definitions of Non-GAAP Measures.

    About Conifer Holdings
    Conifer Holdings, Inc. is a Michigan-based property and casualty holding company. Through its subsidiaries, Conifer offers specialty insurance coverage for both commercial and personal lines, marketing through independent agents. The Company is traded on the Nasdaq Capital Market under the symbol CNFR. Additional information is available on the Company’s website at www.ir.cnfrh.com.

    Forward-Looking Statement

    This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events or our future financial or operating performance, and include Conifer’s expectations regarding future revenue, premiums, earnings, its capital position, expansion, and business strategies. The forward-looking statements contained in this press release are based on management’s good-faith belief and reasonable judgment based on current information. The forward-looking statements are qualified by important factors, risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from those in the forward-looking statements, including those described in our Form 10-K (“Item 1A Risk Factors”) filed with the SEC on March 28, 2025 and subsequent reports filed with or furnished to the SEC. Any forward-looking statement made by us in this press release speaks only as of the date hereof or as of the date specified herein. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable laws or regulations.

    Definitions of Non-GAAP Measures
    Conifer prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures Manual, and therefore is not reconciled to GAAP data.

    We believe that investors’ understanding of Conifer’s performance is enhanced by our disclosure of adjusted operating income. Our method for calculating this measure may differ from that used by other companies and therefore comparability may be limited. We define adjusted operating income (loss), a non-GAAP measure, as net income (loss) excluding: 1) net realized investment gains and losses, 2) change in fair value of equity securities 3) other gains and 4) net income from discontinued operations. We use adjusted operating income as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance.

    Reconciliations of adjusted operating income (loss) and adjusted operating income (loss) per share:

       
        Three Months Ended December 31,   Year Ended December 31,  
        2024   2023   2024   2023  
        (dollar in thousands, except share and per share amounts)  
                     
    Net income (loss) $ (25,382 )   $ (19,460 )   $ 24,347     $ (25,904 )  
    Less:                
    Net realized investment gains (losses)         (20 )     (125 )     (20 )  
    Change in fair value of equity securities   (21 )     13       (203 )     608    
    Other gains   646             646          
    Net income from discontinued operations   (186 )     (42 )     58,587       1,375    
    Impact of income tax expense (benefit) from adjustments *                        
    Adjusted operating income (loss) $ (25,821 )   $ (19,411 )   $ (34,558 )   $ (27,867 )  
                       
    Weighted average common shares, diluted   12,222,881       12,222,881       12,222,881       12,220,551    
                       
    Diluted income (loss) per common share:                
    Net income (loss) $ (2.08 )   $ (1.59 )   $ 1.99     $ (2.12 )  
    Less:                
    Net realized investment gains (losses)               (0.01 )        
    Change in fair value of equity securities               (0.02 )     0.05    
    Other gains   0.05             0.06          
    Net income from discontinued operations   (0.02 )           4.79       0.11    
    Impact of income tax expense (benefit) from adjustments *                        
    Adjusted operating income (loss), per share $ (2.11 )   $ (1.59 )   $ (2.83 )   $ (2.28 )  
                       

    * The Company has recorded a full valuation allowance against its deferred tax assets as of December 31, 2024 and December 31, 2023, respectively. As a result, there were no taxable impacts to adjusted operating income from the adjustments to net income (loss) in the table above after taking into account the use of NOLs and the change in the valuation allowance.

             
    Conifer Holdings, Inc. and Subsidiaries  
    Consolidated Balance Sheets  
    (dollars in thousands)  
             
      December 31   December 31,  
       2024     2023   
    Assets        
    Investment securities:        
    Debt securities, at fair value (amortized cost of $117,827 and $ 105,665     $ 122,113    
    $135,370, respectively)        
    Equity securities, at fair value (cost of $1,836 and $2,385, respectively)   1,603       2,354    
    Short-term investments, at fair value   21,151       20,838    
    Total investments   128,419       145,305    
             
    Cash and cash equivalents   27,654       10,663    
    Premiums and agents’ balances receivable, net   9,901       29,364    
    Receivable from Affiliate         1,047    
    Reinsurance recoverables on unpaid losses   84,490       70,807    
    Reinsurance recoverables on paid losses   6,919       12,619    
    Prepaid reinsurance premiums   6,088       28,908    
    Deferred policy acquisition costs   6,380       6,405    
    Receivable from contingent considerations   8,070          
    Other assets   3,735       7,036    
    Assets from discontinued operations         3,452    
    Total assets $ 281,656     $ 315,606    
             
    Liabilities and Shareholders’ Equity        
    Liabilities:        
    Unpaid losses and loss adjustment expenses $ 189,285     $ 174,612    
    Unearned premiums   30,590       65,150    
    Reinsurance premiums payable   1       246    
    Debt   11,932       25,061    
    Funds held under reinsurance agreements   25,829       24,550    
    Premiums payable to other insureds         13,986    
    Liabilities from discontinued operations         4,083    
    Accounts payable and accrued expenses   2,494       5,029    
    Total liabilities   260,131       312,717    
             
    Commitments and contingencies            
             
    Shareholders’ equity:        
    Series A Preferred stock, no par value (10,000,000 shares authorized; 0 and 1,000      
    issued and outstanding, respectively)         6,000    
    Common stock, no par value (100,000,000 shares authorized; 12,222,881        
    issued and outstanding, respectively)   98,178       98,100    
    Accumulated deficit   (63,153 )     (86,683 )  
    Accumulated other comprehensive income (loss)   (13,500 )     (14,528 )  
    Total shareholders’ equity   21,525       2,889    
    Total liabilities and shareholders’ equity $ 281,656     $ 315,606    
             
             
    Conifer Holdings, Inc. and Subsidiaries
    Consolidated Statements of Operations (Unaudited)
    (dollars in thousands, except share and per share data)
                     
      Three Months Ended   Year Ended  
      December 31,   December 31,  
      2024   2023   2024   2023  
                     
    Revenue and Other Income                
    Premiums                
    Gross earned premiums $ 19,721     $ 38,115     $ 106,612     $ 146,572    
    Ceded earned premiums   (7,013 )     (23,294 )     (45,750 )     (62,637 )  
    Net earned premiums   12,708       14,821       60,862       83,935    
    Net investment income   1,352       1,411       5,763       5,447    
    Net realized investment gains (losses)         (20 )     (125 )     (20 )  
    Change in fair value of equity securities   (21 )     13       (203 )     608    
    Other gains   646             646          
    Other income   41       144       328       552    
    Total revenue and other income   14,726       16,369       67,271       90,522    
                     
    Expenses                
    Losses and loss adjustment expenses, net   32,349       28,470       73,302       82,413    
    Policy acquisition costs   3,535       2,392       13,335       15,797    
    Operating expenses   3,165       3,969       11,831       16,738    
    Interest expense   862       845       4,883       3,206    
    Total expenses   39,911       35,676       103,351       118,154    
                     
    Income (loss) from continuing operations before income taxes   (25,185 )     (19,307 )     (36,080 )     (27,632 )  
    Income tax expense (benefit)   11       111       (1,840 )     (353 )  
                     
    Net income (loss) from continuing operations $ (25,196 )   $ (19,418 )   $ (34,240 )   $ (27,279 )  
    Net income (loss) from discontinued operations   (186 )     (42 )     58,587       1,375    
    Net income (loss)   (25,382 )     (19,460 )     24,347       (25,904 )  
    Series A Preferred Stock Dividends and Redemption premium         19       817       19    
    Net income (loss) allocable to common shareholders   (25,382 )     (19,479 )     23,530       (25,923 )  
                     
    Earnings (loss) per common share, basic and diluted                
    Net income (loss) from continuing operations $ (2.06 )   $ (1.59 )   $ (2.87 )   $ (2.23 )  
    Net income (loss) from discontinued operations $ (0.02 )   $ (0.00 )   $ 4.79     $ 0.11    
    Net income (loss) allocable to common shareholders $ (2.08 )   $ (1.59 )   $ 1.93     $ (2.12 )  
                     
    Weighted average common shares outstanding,                
    basic and diluted   12,222,881       12,222,881       12,222,881       12,220,551    
                     

    For Further Information:
    Jessica Gulis, 248.559.0840
    ir@cnfrh.com

    The MIL Network

  • MIL-OSI: Medallion Bank Announces Benchmark Rate for Certain Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, March 28, 2025 (GLOBE NEWSWIRE) — Medallion Bank (Nasdaq: MBNKP, the “Bank”) today announced that, upon the commencement of the floating rate period for the Bank’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (the “Series F Preferred”) on April 1, 2025, the benchmark rate used to determine the dividend rate for each dividend period during the floating rate period will be three-month CME Term SOFR (“Term SOFR”). In addition, the dividend payment rate determination date for determining Term SOFR will be the second U.S. government securities business day preceding the first day of the relevant dividend period. The Series F Preferred trades on the Nasdaq Capital Market under the ticker symbol “MBNKP.”

    About Medallion Bank

    Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

    For more information, visit www.medallionbank.com

    Company Contact:
    Investor Relations
    212-328-2176
    InvestorRelations@medallion.com

    The MIL Network

  • MIL-OSI: Ambow Files Annual Report on Form 20-F for Fiscal Year 2024

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, California, March 28, 2025 (GLOBE NEWSWIRE) — Ambow Education Holding Ltd. (NYSE American: AMBO) (“Ambow” or the “Company”), an AI-driven educational technology company, today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the “SEC”).

    The Annual Report on Form 20-F can be accessed on the Company’s investor relations website at https://www.ambow.com and the SEC’s website at https://www.sec.gov. Shareholders and ADS holders may request a hard copy of the Annual Report containing its audited consolidated financial statements, free of charge, at ir@ambow.com or by mail at Ambow Education Holding Ltd., 10080 N. Wolfe RD, Suite SW3-200, Cupertino, CA 95014, USA.

    About Ambow

    Ambow Education Holding Ltd. is a U.S.-based, AI-driven technology company offering phygital (physical + digital) solutions for education, corporate conferencing and live events. Through its flagship platform, HybriU, Ambow is shaping the future of learning, collaboration and communication—delivering immersive, intelligent and real-time experiences across industries. For more information, visit Ambow’s corporate website at https://www.ambow.com/.

    Follow us on X: @Ambow_Education
    Follow us on LinkedIn: Ambow-education-group

    For more information, please contact:

    Ambow Education Holding Ltd.
    E-mail: ir@ambow.com
    or
    Piacente Financial Communications
    Tel: +1 212 481 2050
    E-mail: ambow@tpg-ir.com

    The MIL Network

  • MIL-OSI: Aimfinity Investment Corp. I Announces Approval by Shareholders of its Business Combination with Docter Inc.

    Source: GlobeNewswire (MIL-OSI)

    Wilmington, DE, March 28, 2025 (GLOBE NEWSWIRE) — Aimfinity Investment Corp. I (the “AIMA”) (Nasdaq: AIMAU), a special purpose acquisition company, today announced that, the previously announced business combination (the “Business Combination”) between AIMA and Docter Inc. (“Docter”), a Taiwanese health technology company, was approved at an extraordinary general meeting of shareholders (the “EGM”) of AIMA on March 27, 2025. Approximately 93.8% of the votes cast at the EGM were in favor of the Business Combination.

    In addition, in order to extend the date by which AIMA must complete the Business Combination from March 28, 2025 to April 28, 2025, on March 28, 2025, I-Fa Chang, manager of the sponsor of AIMA, deposited into AIMA’s trust account (the “Trust Account”) an aggregate of $55,823.80, or $0.05 per Class A ordinary share held by public shareholders of AIMA (the “Monthly Extension Payment”).

    Pursuant to AIMA’s fourth amended and restated memorandum and articles of association (“Current Charter”), effective January 9, 2025, AIMA may extend the date by which AIMA must complete the Business Combination on a monthly basis from January 28, 2025 until October 28, 2025 or such earlier date as may be determined by its board of directors by depositing the Monthly Extension Payment for each month into the Trust Account. This is the third of nine monthly extensions available under the Current Charter of AIMA.  

    About Aimfinity Investment Corp. I

    Aimfinity Investment Corp. I is a special purpose acquisition company (SPAC) focused on merging with high-growth potential businesses and facilitating their entry into the capital markets.

    About Docter Inc.

    Docter Inc. is a leading health technology company dedicated to developing innovative health monitoring solutions that enhance the accessibility and efficiency of global healthcare services.   

    Additional Information and Where to Find It

    As previously disclosed, on October 13, 2023, AIMA entered into that certain Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and between AIMA, Docter, Aimfinity Investment Merger Sub I, a Cayman Islands exempted company and wholly-owned subsidiary of AIMA (“Purchaser”), and Aimfinity Investment Merger Sub II, Inc., a Delaware corporation and wholly-owned subsidiary of Purchaser (“Merger Sub”), pursuant to which AIMA is proposing to enter into a business combination with Docter involving an reincorporation merger and an acquisition merger. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. AIMA’s shareholders and other interested persons are advised to read, when available, the proxy statement/prospectus and the amendments thereto and other documents filed in connection with the proposed business combination, as these materials will contain important information about AIMA, Purchaser or Docter, and the proposed business combination. The proxy statement/prospectus and other relevant materials for the proposed business combination have been mailed to shareholders of AIMA as of the record date of February 25, 2025, established for voting on the proposed business combination. Such shareholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to AIMA’s principal office at 221 W 9th St, PMB 235 Wilmington, Delaware 19801.

    Forward-Looking Statements

    This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended (the “Securities Act”) and the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about the proposed transactions described herein, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the proposed transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

    Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed business combination, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of AIMA and Docter to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of AIMA or Docter; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of AIMA’s securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Docter to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii) risks relating to the medical device industry, including but not limited to governmental regulatory and enforcement changes, market competitions, competitive product and pricing activity; and (ix) risks relating to the combined company’s ability to enhance its products and services, execute its business strategy, expand its customer base and maintain stable relationship with its business partners.
      
    A further list and description of risks and uncertainties can be found in the prospectus filed with the Securities and Exchange Commission (the “SEC”) on April 26, 2022 relating to AIMA’s initial public offering (File No. 333-263874), the annual report of AIMA on Form 10-K for the fiscal year ended on December 31, 2023, filed with the SEC on July 29, 2024, and in the final prospectus/proxy statement filed with the SEC on March 6, 2025 relating to the proposed transactions (File No. 333-284658) (the “Final Prospectus”), and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and AIMA, Docter, and their subsidiaries or affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

    Additional Information and Where to Find It

    In connection with the proposed transactions described herein, Purchaser filed the Final Prospectus with the SEC on March 6, 2025. The proxy statement and a proxy card will be mailed to AIMA’s shareholders of record as of February 25, 2025. Shareholders of AIMA will also be able to obtain a copy of the Final Prospectus without charge from AIMA. The Final Prospectus may also be obtained without charge at the SEC’s website at www.sec.gov. INVESTORS AND SECURITY HOLDERS OF AIMA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTIONS THAT AIMA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AIMA, DOCTER AND THE PROPOSED TRANSACTIONS. 

    Participants in the Solicitation

    AIMA, Docter, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of AIMA’s shareholders in connection with the proposed transactions described herein. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of AIMA’s shareholders in connection with the proposed business combination is set forth in the Final Prospectus.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of any potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of AIMA, Purchaser or Docter, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

    Contact Information:

    Aimfinity Investment Corp. I
    I-Fa Chang
    Chief Executive Officer
    221 W 9th St, PMB 235
    Wilmington, Delaware 19801
    ceo@aimfinityspac.com

    The MIL Network

  • MIL-OSI: EZCORP Announces Closing of Private Offering of $300,000,000 of Senior Notes Due 2032

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 28, 2025 (GLOBE NEWSWIRE) — EZCORP, Inc. (NASDAQ: EZPW) (the “Company”), a leading provider of pawn transactions in the United States and Latin America, announced today the closing of its private offering of $300,000,000 aggregate principal amount of its senior notes due 2032 (the “Notes”). The Notes were offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the “Securities Act”) or outside the United States to certain non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes are senior unsecured obligations of the Company and are fully and unconditionally guaranteed by certain of the Company’s wholly owned domestic subsidiaries (the “Guarantors”) and may be guaranteed in the future by certain other existing and future subsidiaries that guarantee certain indebtedness of the Company or any Guarantor.

    The Notes bear interest at a rate of 7.375% per annum, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will mature on April 1, 2032, unless earlier redeemed or repurchased in accordance with their terms prior to such date.

    The net proceeds from the offering were approximately $292.5 million, after deducting the initial purchasers’ discounts and estimated offering expenses payable by us. The Company expects to use approximately $103.4 million of the net proceeds from the offering of the Notes to repay its outstanding 2.375% Convertible Senior Notes Due 2025 at maturity. The Company intends to use any excess proceeds for general corporate purposes.

    The Notes were offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act, or outside the United States to certain non-U.S. persons in reliance on Regulation S under the Securities Act. The offer and sale of the Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    This announcement contains certain forward-looking statements. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements are based on the Company’s current expectations as to the outcome and timing of future events. All statements, other than statements of historical facts, including all statements regarding the offering of the Notes or intended use of proceeds thereof, that address activities or results that the Company plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future, including future capital expenditures and future financial or operating results, are forward-looking statements. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of uncertainties and other factors, including operating risks, liquidity risks, legislative or regulatory developments, market factors and current or future litigation. For a discussion of these and other factors affecting the Company’s business and prospects, see the Company’s annual, quarterly and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

    ABOUT EZCORP
    Formed in 1989, EZCORP has grown into a leading provider of pawn transactions in the United States and Latin America. We also sell pre-owned and recycled merchandise, primarily collateral forfeited from pawn lending operations and merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the S&P 1000 Index and Nasdaq Composite Index.

    Contact:
    Email: Investor_Relations@ezcorp.com
    Phone: (512) 314-2220

    The MIL Network

  • MIL-OSI USA: Senator Coons, colleagues press USDA to not take food away from food banks and hungry families

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – U.S. Senators Chris Coons (D-Del.), Amy Klobuchar (D-Minn.), and 24 of their colleagues demanded more information from the U.S. Department of Agriculture about the cancellation of previously approved emergency food assistance funding for food banks and other emergency food providers. The administration has canceled at least 900,000 meals for the Food Bank of Delaware, harming our hungry neighbors already facing high grocery prices and as well as American farmers who are being squeezed by tariffs and other cuts to domestic markets.
    “We write regarding the reported cancellation of hundreds of millions of dollars in previously approved funding for food banks and other emergency food providers through The Emergency Food Assistance Program (TEFAP),” the senators wrote. “A cancellation of these funds could result in $500 million in lost food provisions to feed millions of Americans at a time when the need for food shelves is extremely high due to costly groceries and an uncertain economy.” 
    “If true, this major shift in a program utilized by emergency food providers in every state in the nation will have a significant and damaging impact upon millions of people who depend upon this program for critical food assistance,” the senators continued. “In addition, this program consists of purchases of U.S. commodities at a time when America’s growers and producers are struggling due to tariffs, proposed tariffs, animal disease and many other challenges.”
    In addition to Senators Coons and Klobuchar, the letter was signed by Senate Minority Leader Chuck Schumer (D-N.Y.) and Senators Jeanne Shaheen (D-N.H.), Ron Wyden (D-Ore.), Dick Durbin (D-Ill.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Sheldon Whitehouse (D-R.I.), Mark Warner (D-Va.), Jeff Merkley (D-Ore.), Michael Bennet (D-Colo.), Kirsten Gillibrand (D-N.Y.), Richard Blumenthal (D-Conn.), Tammy Baldwin (D-Wis.), Angus King (I-Maine), Cory Booker (D-N.J.), Catherine Cortez Masto (D-Nev.), Tina Smith (D-Minn.), Jacky Rosen (D-Nev.), Ben Ray Luján (D-N.M.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), Adam Schiff (D-Calif.), Andy Kim (D-N.J.), and Elissa Slotkin (D-Mich.).
    The full letter is available here and below. 
    Dear Secretary Rollins: 
    We write regarding the reported cancellation of hundreds of millions of dollars in previously approved funding for food banks and other emergency food providers through The Emergency Food Assistance Program (TEFAP). A cancellation of these funds could result in $500 million in lost food provisions to feed millions of Americans at a time when the need for food shelves is extremely high due to costly groceries and an uncertain economy. If true, this major shift in a program utilized by emergency food providers in every state in the nation will have a significant and damaging impact upon millions of people who depend upon this program for critical food assistance. 
    In addition, this program consists of purchases of U.S. commodities at a time when America’s growers and producers are struggling due to tariffs, proposed tariffs, animal disease and many other challenges. 
    According to recent statistics, nearly one in every seven Americans have faced food insecurity. Many of these households turn to community and emergency relief organizations such as food banks and food pantries to help them obtain sufficient nutrition. In 2023 alone, 50 million Americans turned to emergency food providers, according to a report from Feeding America, America’s largest network of food banks. While food banks rely on a variety of sources (including private) to obtain food for distribution through their networks, federally purchased commodities are a key part of how they provide nutritious meals to Americans.  
    Due to this reported change, a number of us have heard that trucks delivering American-grown foods may not arrive. These trucks represent hundreds of thousands of nutritious meals containing poultry, fruits, vegetables, and dairy. If confirmed, the cancellation of this previously announced funding also comes on top of the cancellation of Local Food for School Program and the Local Food Purchase Assistance Program funding, which also helps farmers deliver nutritious foods to schools and food banks. These cuts will deprive Americans of food assistance, emergency food providers of necessary support to carry out their work, and American farmers of vital domestic markets. 
    To help us understand USDA’s actions and their impact on communities around the country, we ask that you answer the following questions. 
    1.            Has USDA cancelled previously approved purchases of food provided through TEFAP? If so, what level of funding has been cancelled thus far and when will state agencies be notified of any cancelled TEFAP purchases? 
    2.            Does USDA plan to cancel additional purchases of food provided through TEFAP? 
    3.            Has USDA paused any TEFAP food orders or purchases? If so, what is the current status of those orders or purchases? Does USDA intend to un-pause these funds?  
    4.            Please provide information on what types of funding, by commodity, have been cancelled and the financial impact of those cancellations on producers such as pork, chicken, turkey and dairy farmers. 
    5.            Is the funding announced on October 1, 2024, and detailed in the implementation memo that the Food and Nutrition Service sent to state agencies on December 2 rescinded? 
    6.            Does USDA intend to use Commodity Credit Corporation funds in Fiscal Year 2025 for future purchases that will be distributed through TEFAP?  
    The senators asked for a prompt response to these questions by the end of the week. 

    MIL OSI USA News

  • MIL-OSI USA News: WEEK TEN WINS: President Trump Fuels America’s Golden Age

    Source: The White House

    Ten weeks into his second term, President Donald J. Trump keeps delivering transformative wins for the American people — empowering our workers, securing our nation, and cementing our leadership as the envy of the world.

    Here is a non-comprehensive list of wins in week ten:

    • President Trump’s effort to secure the homeland continued in force.
      • The Trump Administration directed the successful apprehension of a key MS-13 gang leader — an illegal immigrant living in Virginia and operating as one of the top three MS-13 leaders in the U.S.
      • ICE arrested 370+ illegal immigrants as part of a major operation in Massachusetts — many of whom have serious criminal convictions and charges, including murder, child rape, fentanyl trafficking, and armed robbery.
    • President Trump imposed a 25% tariff on imports of foreign automobiles and certain auto parts to end unfair trade practices and protect national security.
      • United Auto Workers: “We applaud the Trump administration for stepping up to end the free trade disaster that has devastated working class communities for decades. Ending the race to the bottom in the auto industry starts with fixing our broken trade deals, and the Trump administration has made history with today’s actions.”
    • President Trump imposed a 25% tariff on all goods from countries that import Venezuelan oil to sever the financial lifelines of the corrupt Maduro regime.
    • President Trump’s unrelenting pursuit of American manufacturing dominance continued to deliver results.
      • Hyundai announced a $20 billion investment in the U.S., which will create 14,000 new jobs. The investment includes $5.8 billion for a new steel plant in Louisiana, which will create nearly 1,500 jobs.
      • Schneider Electric announced it will invest $700 million over the next four years in U.S. energy infrastructure.
      • Rolls-Royce is expected to shift production to the U.S. and expand its domestic workforce.
      • Vietnam announced it will cut duties on U.S. imports, including liquefied natural gas and automobiles.
    • President Trump continued to pursue peace through strength around the world.
      • U.S. airstrikes eliminated dozens of ISIS jihadis hiding within a cave complex in Somalia.
      • Following U.S.-led negotiations, Russia and Ukraine agreed to a Black Sea ceasefire.
    • President Trump’s economic agenda delivered more relief for Americans.
      • Large egg prices have dropped nearly 60% since last month amid the Trump Administration’s efforts to combat the avian bird flu and repopulate the chicken supply.
      • New data showed new home sales rose 5.1% over last year — with median home prices down 1.5% over last year and 3% over January.
    • The President signed several key executive orders to improve our nation.
      • President Trump signed an executive order aimed at making Washington, D.C., safe, beautiful, and the greatest capital city in the world.
      • President Trump signed an executive order on election integrity, including requiring proof of citizenship in voter registration, setting standards for voting equipment, identifying election fraud, and banning foreign interference in elections.
      • President Trump signed executive orders to protect America’s bank account against waste, fraud, and abuse and modernize payments.
      • President Trump signed an executive order exempting agencies with national security missions from federal collective bargaining requirements in order to bolster border, national, and energy security.
      • President Trump signed an executive order to remove anti-American propaganda from federal museums and national parks.
      • President Trump ordered the immediate declassification of all FBI files related to the sham Crossfire Hurricane investigation.
    • The Department of the Interior disbursed $350 million in energy revenues from the Gulf of America to oil-and-gas-producing states, including Alabama, Louisiana, Mississippi, and Texas.
    • The Department of the Interior announced nearly $40 million in total receipts from its first oil and gas lease sales of the year.
    • The Department of Commerce blacklisted more than 50 Chinese companies in a bid to reduce the Chinese Communist Party’s intellectual property theft.
    • The Department of Housing and Urban Development canceled taxpayer-backed mortgages for illegal immigrants.
    • The Department of Energy slashed unnecessary bureaucratic red tape that accounted for 60% of costs when building and purchasing new laboratories.
    • The Department of Health and Human Services axed $300 million in grants to California related to radical gender ideology and DEI.
    • The Department of Health and Human Services formally warned California for allowing graphic sex education, including about sex toys and “role-plays,” to be taught to children as young as ten years old.
    • The Department of Education revoked waivers that allowed certain colleges to divert federal funds intended for low-income students and students with disabilities to illegal immigrants.
    • The Department of Education launched an investigation into the California Department of Education for withholding information from parents about their child’s gender identity.
    • The Department of Education launched an investigation into Portland Public Schools and the Oregon School Activities Association for allowing a male student athlete to compete in a girls’ track and field competition.
    • The Department of Agriculture reinstated critical reports canceled by the Biden Administration, including the July Cattle Report and the County Estimates for Crops and Livestock — giving farmers the data needed to make important decisions for their operations.
    • The Department of Agriculture announced an investigation into California for possible noncompliance with President Trump’s executive order on radical transgender ideology.
    • The Department of the Treasury announced sanctions against additional Iranian intelligence officers involved in the probable death and cover-up of FBI Special Agent Bob Levinson.
    • The Department of Labor canceled nearly $600 million in “America Last” grants, including millions for “gender equity in the Mexican workplace” and “assisting foreign migrant workers” in Malaysia.
    • The Department of Justice seized hundreds of thousands of dollars of cryptocurrency intended to support Hamas and other terrorist organizations.
    • The Environmental Protection Agency terminated a $2 billion Biden-era grant to a non-governmental organization linked to partisan politics.
    • The Environmental Protection Agency announced it “successfully completed its mission assignment in Western North Carolina following Hurricane Helene.”
    • The Office of Management and Budget cut a wasteful $3 billion Biden-era slush fund.
    • The Small Business Administration announced actions to reverse Biden-era mismanagement of its Core 7(a) loan program.
    • The U.S. Coast Guard awarded a $1 billion contract for dozens of heavy icebreaker ships — which play a critical role in the defense of American interests.
    • The University of Michigan announced it will end its “diversity, equity, and inclusion”-related programming following President Trump’s executive order earlier this year.
    • President Trump’s nominees continue to be confirmed at a rapid pace, with the Senate confirming Secretary of the Navy John Phelan, White House Office of Science and Technology Policy Director Michael Kratsios, National Institutes of Health Director Jay Bhattacharya, and Office of Management and Budget Deputy Director Dan Bishop.
    • President Trump pardoned Devon Archer, a former business partner of Hunter Biden whose key testimony in the Biden corruption scandal made him a target for prosecution by the Biden Administration.

    MIL OSI USA News

  • MIL-OSI New Zealand: MP drafts bill to end race-based university policies

    Source: ACT Party

    ACT Tertiary Education spokesperson Dr Parmjeet Parmar has drafted a bill that would ensure universities do not allocate resources, benefits or opportunities based on race.

    “This week I wrote to the Minister for Universities to raise concerns about allocation of resources toward students based on ethnicity. This includes special allowances, separate study spaces, scholarships, and course entrance pathways in fields like medicine,” says Dr Parmar.

    “Last year, the Government issued a ‘need and value’ directive to public agencies instructing them to allocate support based on need, rather than ethnicity. But the directive didn’t apply to universities.

    “Universities are independent but receive most of their funding from taxpayers, and they are protected from competition by legislation.

    “I have drafted a bill that would effectively apply the need-not-race directive to the university sectors. ACT will continue to advocate for fair access to opportunities at university and I hope the Minister will consider my proposal.

    “I also reiterated to the Minister concerns I have raised publicly about the University of Auckland’s new compulsory paper on the Treaty and indigenous knowledge. In ACT’s view, the compulsory nature of the course disrespects the time and financial investment made by students. Students deserve the chance to focus on areas relevant to their careers and personal interests. This is especially true for international students who are now forced to pay upwards of $5,000 for a course that will hold little value once they leave New Zealand.”

    A copy of the draft Education and Training (Equal Treatment) Amendment Bill can be found here.

    MIL OSI New Zealand News

  • MIL-OSI USA: Durbin, Sorenson, Murkowski Lead Bipartisan Call For Continued Support For Defense Communities

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    March 28, 2025

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) and U.S. Representative Eric Sorensen (D-IL-17), along with U.S. Senator Lisa Murkowski (R-AK) and U.S. Representative Blake Moore (R-UT-01), today led a bipartisan letter urging Secretary of Defense Pete Hegseth to maintain robust support for the Department of Defense’s Office of Local Defense Community Cooperation (OLDCC).

    The OLDCC administers crucial programs, including the Defense Community Infrastructure Program (DCIP), the Defense Manufacturing Community Support Program (DMCSP), the Community Noise Mitigation Program, and the Public Schools on Military Installations (PSMI) program.  These initiatives provide important resources to state and local communities, helping to repair infrastructure, strengthen the defense industrial base, and support military readiness. Between Fiscal Years 2020 and 2024, Illinois has received $73 million in federal funding from OLDCC.

    “Grants from OLDCC provide communities across the country with the ability to tackle important projects to better support their local military installations that they otherwise would not have been able to fund themselves,” the lawmakers wrote.  “DMCSP grants have helped strengthen the U.S. defense industrial manufacturing base and prepare our national security workforce fortechnologies for the future.  In addition, the Mission Realignment program has been a lifeline to communities after base closures or reductions, helping revitalize the local economies of communities that faithfully supported our defense mission.”

    “OLDCC programs are also smart investments.  OLDCC collaborates with a wide variety of partners to support military readiness and resiliency while addressing community workforce and business needs.  In addition, it notably leverages non-federal contributions into the defense mission, demonstrating the utility of its grant programs in furthering taxpayer dollars,” the lawmakers continued.

    “We urge your continued support of all the vital programs administered by the OLDCC and we look forward to continuing to work with the Department of Defense to ensure that our state and local communities are able to support our defense missions,” the lawmakers concluded their letter.

    Since its inception, the OLDCC has provided technical and financial assistance to nearly every U.S. state and territory. In the last year alone, grants have funded projects such as sewer system upgrades, emergency backup generators, runway rehabilitation, and workforce development in the defense manufacturing sector. 

    “The Association of Defense Communities (ADC) has been a long time and staunch advocate for the Office of Local Defense and Community Cooperation (OLDCC),” said Karen Holt, President of the Alliance of Defense Communities. “This office serves as the critical link between the Department of Defense and defense communities across the country. OLDCC programs are instrumental in maintaining the readiness of our military installations, missions, service members, and the communities they call home. ADC greatly appreciates the leadership of Senator Dick Durbin, Senator Lisa Murkowski, Congressman Eric Sorensen and Congressman Blake Moore for leading this effort to advocate for maintaining OLDCC funding levels. OLDCC programs are core to the idea that national security starts at home.”

    Additional Senators signing onto the letter were U.S. Senators Michael Bennet (D-CO), Martin Heinrich (D-NM), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Tim Kaine (D-VA), Mark Kelly (D-AZ), Angus King (I-ME), Ben Ray Luján (D-NM), Alex Padilla (D-CA), Jack Reed (D-RI), Brian Schatz (D-HI), Adam Schiff (D-CA), Mark Warner (D-VA), Raphael Warnock (D-GA), Peter Welch (D-VT), and Ron Wyden (D-OR).

    House Members who signed onto the letter were U.S. Representatives Ed Case (HI-01), Gerald Connolly (VA-11), John Garamendi (CA-08), Sylvia Garcia (TX-29), Maggie Goodlander (NH-02), Jennifer Kiggans (VA-02), Jennifer McClellan (VA-04), James McGovern (MA-02), Jay Obernolte (CA-23), Johnny Olszewski (MD-02), Jimmy Panetta (CA-19), Deborah Ross (NC-02), Robert Scott (VA-03), Marilyn Strickland (WA-10), Jill Tokuda (HI-02), Michael Turner (OH-10), Gabe Vasquez (NM-02), and Delegate James Moylan (Guam).

    You can view the letter HERE.

    -30-

    MIL OSI USA News

  • MIL-OSI United Nations: Tax Systems Must Be Aligned with Sustainable Development, Economic and Social Council Told

    Source: United Nations 4

    While Technology Optimizes Collections, Globalization, Digitization Also Open Loopholes to Evasion

    (Note:  Full coverage of today’s Economic and Social Council meetings will be made available after their conclusion.)

    Speakers stressed the need for stronger global action to harness the power of taxation as a catalyst for sustainable development at today’s Economic and Social Council special meeting on international cooperation in tax matters.

    As the United Nations framework convention on this topic moves into the negotiating stage, the special meeting brings together Member States, members of the UN Committee of Experts on International Tax Cooperation (UN Tax Committee) and other stakeholders.  This year’s meeting addressed two themes:  inclusive and effective international tax cooperation and gender inclusivity through tax policy.

    In his opening remarks, Robert Rae (Canada), President of the Economic and Social Council, highlighted the 20 years of dialogue between the Council and the UN Tax Committee — comprising 25 members nominated by Governments and appointed by the UN Secretary-General — as “an effective model of how the United Nations system can mainstream specialized policy areas” across the broader development agenda.  “Fair tax systems and effective fiscal policies are powerful tools to mobilize resources [and] reduce inequalities,” he said. 

    Echoing that, Li Junhua, Under-Secretary-General for Economic and Social Affairs, noted that developing countries continue to lose significant resources through tax avoidance and evasion.  Stronger domestic tax administration and effective international engagement are necessary to address this.  It is further important to address systemic gender disparities by revealing hidden biases in tax policies, he added.

    Liselott Kana, Co-Chairperson of the UN Tax Committee, outlined the work of the expert body, including its updates to the UN Model Tax Convention and the Manual for the Negotiation of Bilateral Tax Treaties.  These updates “have significantly increased the UN Model’s profile and its influence in bilateral tax treaty negotiations”, she said.  The Committee’s work has expanded beyond traditional international tax issues to address domestic resource mobilization, she said, adding:  “This is the real world in which tax policymakers and decision makers have to operate.”

    Maria José Garde, Director-General of Taxation at the Ministry of Finance of Spain, highlighted that country’s experience with a highly digitalized tax administration.  Digitalization makes it possible for tax administration to become more efficient, facilitate compliance and simplify processes.  It also facilitates the use of artificial intelligence (AI) and big data to fight fraud and tax evasion.  However, it has also opened the door for tax evasion and avoidance, she pointed out.  Taxation does not only mean collecting taxes — “it’s also a powerful instrument to make progress and against inequality” through progressive policies that tax major fortunes or corporations, she pointed out.

    In a panel discussion moderated by Mathew Gbonjubola, Co-Chairperson of the UN Tax Committee, speakers examined challenges and opportunities to strengthen domestic resource mobilization.

    Ramesh Narain Parbat, Head of Tax Policy Division, Central Board of Direct Taxes at the Ministry of Finance of India, shared lessons from his country’s pathway towards a double-digit growth rate in direct tax collection.  He highlighted two financial social-welfare schemes — both linked to a unique identification number, enabling digitalization and obliteration of leakages.  The Government has also encouraged mobile-based digital payment platforms, which vegetable vendors now use to deposit and save money more efficiently, he said.

    The global tax system today reflects old economic realities, he said, noting that taxing rights have historically been tied to physical presence, which is outdated in today’s digital economy.  Digital businesses can make a lot of money in different countries, but pay little or no taxes.  Further, a fair allocation of tax rights must recognize the interconnected global supply chain value creation, he stressed.

    Africa Loses $100 Billion Yearly to Illicit Financial Flows

    Chenai Mukumba, Executive Director of Tax Justice Network Africa, noted that Africa loses $88.6 billion to $100 billion annually due to illicit financial flows — “resources that should be funding public services”.  Multinational corporations exploit gaps in transfer pricing rules, tax treaties and secrecy jurisdictions, reducing the continent’s tax base.  This has caused many African Governments to revert to regressive tax systems.  Kenya’s July 2024 protests over tax hikes illustrate this, she pointed out, adding:  “Overreliance on consumption taxes disproportionately affects lower-income populations, while high-net-worth individuals and large corporations remain undertaxed.”  “The current international tax system is fragmented,” and dominated by exclusive decision-making bodies, she said.  A UN tax convention could establish binding rules on corporate taxation, transparency and exchange of information, ensuring all countries have equal decision-making power.  African countries need a greater share of taxing rights to reflect the economic activities occurring within their borders.  “This looks like redesigning tax treaties to prevent excessive revenue losses and ensuring a fair allocation of profits,” she said. 

    “Tax is a jealously guarded sovereign right,” said Ben Dickinson, Deputy Director of Organisation for Economic Co-operation and Development (OECD) Centre for Tax Policy and Administration.  Countries choose to collaborate on taxation only where international collaboration is important for their domestic policy goals.  Also drawing attention to United Nations Development Programme’s (UNDP) partnership with Tax Inspectors Without Borders, he said it has helped countries realize over $2.4 billion in additional revenues.

    While there has been important progress in international corporate taxation, “no one area of tax policy will suffice to mobilize the scale of revenues required”, he warned.  Therefore, it is crucial to look at all policy areas, including value added tax, personal income tax, social security contributions and property taxation.

    The second part of the same panel discussion focused on “Taxation of Cross-Border Services — a multi-faceted approach” and featured the following panellists:  Thulani Shongwe, Head, African Multilateral Cooperation, African Tax Administration Forum; Marcio Ferreira Verdi, Executive Secretary of the Inter-American Center of Tax Administrations; and John Connors, Chair, Global Tax Commission, International Chamber of Commerce.

    MIL OSI United Nations News

  • MIL-OSI USA: This Will Hurt: Attorney General Bonta Issues Statement on Congress Dumping Rule to Limit Costly Overdraft Fees

    Source: US State of California

    Friday, March 28, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND — California Attorney General Rob Bonta today issued a statement after Congress overturned a Consumer Protection Financial Bureau (CFPB) rule that would have limited overdraft fees to $5. Currently, banks usually charge $35 for an overdraft. The rule was expected to have saved Americans billions of dollars each year. 

    “Congress just voted to increase bank fees, overturning a CFPB rule that would have saved hardworking American families billons a year — this directly harms consumers already struggling with affordability and the ripples of inflation,” said Attorney General Bonta. “Let me be clear: by allowing big banks to charge high overdraft fees, Congress is paving the way for wealthy banks to get wealthier, and for working class people to be squeezed even further.”

    Overdraft fees can lead to substantial financial losses for families and turn setbacks into crises. California consumers paid an estimated $200 million in overdraft fees in 2022, with the financial burden disproportionately falling on low-income consumers and consumers of color. Meanwhile, financial institutions nationwide generated over $7.7 billion in revenue from overdraft fees and non-sufficient funds fees in 2022. 

    Attorney General Bonta has been a steadfast advocate for consumer protections, including limiting overdraft fees. 

    • Last month, Attorney General Bonta filed amicus briefs (here and here) in lawsuits challenging the Trump Administration’s efforts to dismantle the CFPB, arguing that the shuttering of the agency would cause catastrophic and irreparable harm to consumers nationwide.
    • In April 2024, Attorney General Bonta supported a rule that would close a regulatory loophole that enables banks to extract billions of dollars from consumers by charging overdraft fees without adequately disclosing basic credit terms.
    • In February 2024, Attorney General Bonta warned smaller banks and credit unions that overdraft fees disproportionally penalize lower-income consumers and consumers of color, and may violate consumer protection laws.

    # # #

    MIL OSI USA News

  • MIL-OSI Security: U.S. Attorney’s Office Filed 90 Border-Related Cases This Week

    Source: Office of United States Attorneys

    SAN DIEGO – Federal prosecutors in the Southern District of California filed 90 border-related cases this week, including charges of transportation of illegal aliens, reentering the U.S. after deportation, deported alien found in the United States, and importation of controlled substances.

    The U.S. Attorney’s Office for the Southern District of California is the fourth-busiest federal district, largely due to a high volume of border-related crimes. This district, encompassing San Diego and Imperial counties, shares a 140-mile border with Mexico. It includes the San Ysidro Port of Entry, the world’s busiest land border crossing, connecting San Diego (America’s eighth largest city) and Tijuana (Mexico’s second largest city).

    In addition to reactive border-related crimes, the Southern District of California also prosecutes a significant number of proactive cases related to terrorism, organized crime, drugs, white-collar fraud, violent crime, cybercrime, human trafficking and national security. Recent developments in those and other significant areas of prosecution can be found here.

    A sample of border-related arrests this week includes:

    • Mexican national Aurora Karina Sanchez Quioano was arrested on March 23, 2025, and charged with illegally entering the U.S. after being previously deported after the U.S. Coast Guard reported a vessel onshore at Dog Beach in Ocean Beach. When a U.S. Border Patrol agent arrived at Dog Beach following the report, citizens pointed him towards a jogging trail where he found Sanchez soaking wet.  Sanchez was previously deported on August 8, 2024.    
    • On March 23, 2025, Angel Alonso Peralta Fuerte and Juan Jose Diaz-Guerena, both citizens of Mexico, were arrested and charged with alien smuggling for financial gain after the vessel they were operating with 19 individuals on board was detained by the U.S. Coast Guard. All 19 passengers on the vessel admitted that they are citizens of Mexico without lawful documents allowing them to enter the United States and were arrested by San Diego based U.S. Border Patrol Agents.  Peralta was previously deported on February 26, 2025, less than a month prior to this arrest. Two of the individuals on the vessel were also charged with attempted reentry of removed alien based on their prior criminal and immigration history.  According to the complaint, several individuals of the boat stated they were paying between $3,000-15,000 if successfully smuggled into the United States.
    • Xavier Garcia, a United States citizen, was arrested on March 26, 2025, when he attempted to cross into the U.S. from Mexico at the Otay Mesa Port of Entry on drug importation charges. According to a federal complaint, he was the driver and registered owner of a vehicle in which Customs and Border Protection officials found 503 packages containing more than 500 pounds of methamphetamine hidden in the engine area, seats, spare tire, doors, roof, tailgate, and center console of his vehicle.

    Federal law enforcement has focused immigration prosecutions on undocumented aliens who are engaged in criminal activity in the U.S., including those who commit drug and firearms crimes, who have serious criminal records, or who have active warrants for their arrest. Federal authorities have also been prioritizing investigations and prosecutions against drug, firearm, and human smugglers and those who endanger and threaten the safety of our communities and the law enforcement officers who protect the community.

    The immigration cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), Customs and Border Protection, U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with the support and assistance of state and local law enforcement partners.

    Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI USA: Chairman Wicker Warns of Putin’s Deceit in Ukraine-Russia Ceasefire Talks

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker
    WASHINGTON – U.S. Senator Roger Wicker, R-Miss., the Chairman of the Senate Armed Services Committee, yesterday delivered remarks on the Senate floor warning that Vladimir Putin cannot be trusted as negotiations to achieve a ceasefire in the Russia-Ukraine conflict continue in Riyadh.
    In his remarks, Chairman Wicker explored the 20-year history of Putin’s lies in the service of fulfilling his true ambition: to resuscitate the old Soviet empire. He added analysis on the many ways that Vladimir Putin is still actively trying to undermine American interests, including through the imprisonment of U.S. citizens, previous attacks on U.S. soldiers, and a large nuclear strike complex specifically designed to threaten the United States.
    Chairman Wicker also made brief comments about the state of negotiations with Russia in Riyadh. In his remarks, Wicker noted the extreme asymmetry between Russian and American readouts of negotiations, and how concessions made by Ukraine differ from those made by Russia during talks.
    Ukraine, the Chairman said, has made a good-faith effort to reach an honorable settlement, while Russia appears to be attempting to extract concessions in an effort to boost its negotiating position. Chairman Wicker added that President Trump understands the kind of character that he is dealing with in Vladimir Putin and his true goals.
    Read Chairman Wicker’s full remarks in full below.
    Mr. President, I rise this afternoon to offer some remarks on the situation in Europe and the prospects for peace in Ukraine.
     
    We should start with recent positive developments. President Trump and President Zelenskyy have demonstrated remarkable resolve and remarkable wherewithal.
     
    Just this week, we heard news from the peace talks in Saudi Arabia. Ukraine publicly expressed openness to prisoner exchanges, a welcome development. Notably, Russia did not express such willingness.
     
    We should applaud Ukraine’s overtures. An agreement is within reach that reflects the common cause of the United States and Ukraine.
     
    Separately, much ink has been spilled on the economic investment deal. Less has been said about why the United States is interested in an investment deal with Ukraine. President Trump recognizes that America is better off when Ukraine is free, strong, and industrious. The economic investment deal shows that our president wants peace, and that he wants an honorable peace – one that endures, one that ensures the prosperity and protection of Ukraine and the United States.
     
    This peace will require that Russia put down its weapons in an enduring and verifiable way. It’s clear that Vladimir Putin does not share President Trump’s desire for peace. As Putin’s representatives prepare to sit down with American diplomats, President Putin has ordered salvo after salvo of missiles and drones to strike Ukrainian apartments, killing non-combatant women and children. These are not the gestures of a statesman who wants to negotiate peace. We’re dealing with a tyrant who speaks the language of war and terror.
     
    We have to deal with him, but that’s who he is.
     
    In recent decades, several successive United States presidents have extended the hand of peace to Mr. Putin. Each one of them had different tactics, but none of them achieved the outcome they desired. In this series of failed diplomacy, the common denominator was not the American presidents. Regardless of party, the common denominator was and is Russia’s dictator Vladimir Putin, a war criminal.
     
    So, we need to remind the American people of exactly what kind of strongman we’re dealing with here – the  kind of strong man we’re trying to negotiate with, the kind of strong man we’re forced to negotiate with.
     
    Vladimir Putin regrettably is not interested in peace, He’s interested in a phony deal. He’s shown this with his words, his acts of violence, and the peace agreements he has shredded.
     
    Dictators frequently tell us who they really are. In 2007, Putin stood before the Munich Security Conference, and he rejected a world in which nations cooperate. In his other writings, he has publicly mourned the collapse of the Soviet Empire, and he dreams of its resurrection. In 2021, President Putin wrote an essay laying the groundwork for his invasion of Ukraine. This was a year before the recent invasion. In it, he rejected the very right of the Ukrainian people to exist as a distinct and self-governing nation.
     
    This essay is full of lies; it would have made Adolf Hitler proud. But it shows one thing is true: Mr. Putin is a Russian imperialist to the core. Here’s a man who believes the greatest historical tragedy of the last 40 years was the collapse of the Soviet power and influence over Eastern Europe.
     
    Putin publicly proclaims his delusions of grandeur, but he has not stopped at words and speeches. He has used any means necessary to continue his decades-long political warfare against NATO. And he’s ruthlessly worked to achieve the empire he craves.
     
    In the year after his Munich speech, Vladimir Putin and his army invaded their neighbor, the Republic of Georgia. In the year after his essay about Ukraine, he invaded Ukraine. Mr. Putin no longer technically works for the KGB, but he still thinks like a KGB agent – the kind that uses chemical weapons to poison people living in Russia and all over the world. Exacting revenge on his critics without regard for international borders. He jails reporters and activists.
     
    Why does he do this? Because dictators actually live in fear of their own people.
     
    Putin has imprisoned scores of Americans in Russian gulags. He’s killed and kidnapped American citizens across the globe. His commandos have targeted our soldiers in Afghanistan. He has no respect for our country, or for human life in his country or any other country.
     
    And he has the weaponry to back up his threats. Mr. Putin sits atop the world’s largest and most diverse nuclear arsenal. And I might add that this arsenal is postured specifically at us to destroy the United States.
     
    In another perverse action, I have to say this, Mr. Putin has tried to co-opt Christianity, if you can believe that. He’s twisted a religion of repentance into a propaganda machine. Patriarch Kirill of Moscow professes to lead the Russian Orthodox Church. In reality, Kirill is a puppet of Vladimir Putin. His father baptized Vladimir Putin, and now Kirill follows his father’s footsteps by sanctifying the dictator’s crimes, Kirill has blessed the 2022 invasion of Ukraine absurdly claiming that the Russians are fighting against evil. As Patriarch, he blessed the invasion as Russia bombs Ukrainian women and children. Kirill invokes God’s name to justify Putin’s butchery. Kirill is the very definition of the prophet Isaiah’s portrait of corruption: corrupt men like him, those who call evil good, and good evil. Shame on this phony Patriarch.
     
    President Putin has publicly shared his imperialistic dreams. He has violently pursued those goals, even in God’s name. And along the way, he’s torn to shreds every ceasefire deal he’s ever signed.
     
    Now, before World War I, the Kaiser’s regime in Germany called a treaty a “mere scrap of paper.” Well, Vladimir Putin feels the same. He has no regard for the Budapest Memorandum. He has no regard for the INF Treaty. He has no regard for the Minsk Agreement. In each case, Putin has lied, stolen, and misdirected to further his empire-building ambitions.
     
    And that’s what he’s trying to do with the negotiations today. President Trump is interested in peace. President Zelenskyy is interested in peace. President Putin values peace as little as any piece of shredded paper he would deceitfully sign.
     
    Many people do not realize that the Ukrainians have been valiantly and steadily weakening Putin’s forces. Half a million Russian soldiers – half a million souls – have either been killed or injured so severely that they cannot return to the battlefield. That’s half a million Russian moms without sons, wives without husbands. That toll is steep and the blame rests upon one person: the man who ordered the invasion, Vladimir Putin and his imperialistic vision. Russia is barely managing to sustain this war, and I think Mr. President, the American people do not know this, but Russia’s barely hanging on.
     
    They are struggling from heavy battlefield costs and economic sanctions. We should not support a peace deal that could let Russia up off the mat and reconstitute its army. Both the previous and the current Secretaries-General of NATO expect that Russia will not be ready to threaten NATO conventionally for 5 to 7 years. The wrong deal with Russia could allow them to be off to the races sooner, and Russia wants just that.
     
    As we’ve seen this week, Putin is trying to work the peace process deceptively to skew it in his favor. This week, his office has pushed out messages from the peace talks in Riyadh. Putin’s officials maintain that the United States is prepared to lift a number of sanctions the West imposed after Russia’s invasion of Ukraine.
     
    I certainly hope that’s not true. These Kremlin officials claim that we will soon readmit Russia to SWIFT. SWIFT, of course, is the global financial system that Russia depends on for global trade. Putin relies on trade to finance his war machine.
     
    The Russians also think we’re prepared to grant sanctions relief for any company that ships goods on vessels flying the Russian flag, or that could claim any ties to food production, shipping, or securities. Such a deal would be full of loopholes. Such a deal would be designed to let Russia, which is on the ropes, off the mat.
     
    Mr. Putin’s men asked for all of this, and yet they offer little in return. They won’t even talk about prisoner exchanges. That’s breathtaking, especially when Ukraine has publicly expressed openness to a ceasefire. They’re the ones that have publicly said they’ll agree to a ceasefire. Mr. Putin and his negotiators have never proclaimed that.
     
    The Ukrainians, who’ve been ruthlessly attacked, have extended the hand of peace. Russia still has not, even though it demands so much. Putin says he’s willing to work toward peace, but his demands show that he is lying. His demands make it clear that he intends to use the sanctions relief to rearm. It would be a mistake to grant sanctions relief to Russia without reciprocal support for Ukraine. Doing so would devastate the prospect of a lasting peace. And let me repeat: Mr. Putin has never agreed to a ceasefire to a treaty that resulted in a lasting peace.
     
    As we negotiate in Saudi Arabia, the United States must remember that Russia is barely managing to sustain this war. The economic and battlefield price is very costly for Mr. Putin. Undoing these sanctions would instantly lower Putin’s cost. It would evaporate the leverage these financial penalties have given to the United States and the free world.
     
    As I close, let me reiterate, Mr. President: many have tried to negotiate with Vladimir Putin on his terms. I think President Trump is beginning to understand that peace comes through American and Ukrainian strength, that dictators respond to power because it’s the only thing they respect.
     
    We need to see this Russian dictator and war criminal for what he is: a murderous dictator who hopes he can back us into a corner during the peace process, and thus pursue another invasion.
     
    If Vladimir Putin lives up to a ceasefire or peace treaty with Ukraine, it will be the first time ever. Vladimir Putin has a long track record and it’s filled with lies, violence, and treachery.
     
    That’s who we’re dealing with. We have to deal with him, but that’s who we’re dealing with. Getting a deal with him will be a challenge. We must bear history in mind if we are to reach a settlement that benefits the free countries of the world.
     
    Thank you, Mr. President, and I yield the floor.

    MIL OSI USA News

  • MIL-OSI USA: Padilla, Cleaver Lead 100+ Democrats in Condemning HUD Field Office Cuts, Urging Reinstatement of Civil Servants

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Cleaver Lead 100+ Democrats in Condemning HUD Field Office Cuts, Urging Reinstatement of Civil Servants

    San Francisco Regional Office among HUD offices rumored to be closing
    WASHINGTON, D.C. — U.S. Senator Alex Padilla (D-Calif.) and U.S. Representative Emanuel Cleaver, II (D-Mo.-05) led more than 100 Democrats in the Senate and House in condemning staffing cuts and potential closures of Department of Housing and Urban Development (HUD) Field Offices across the country. In a letter to HUD Secretary Scott Turner, the lawmakers pushed him to fully and immediately reinstate civil servants who were illegally fired from the Department and condemned reports that HUD is considering the illegal closure of nearly two-thirds of field offices nationwide.
    The rumored HUD cuts include San Francisco’s Regional Office, which would leave California with only one operational field office. Field offices provide critical housing services, and staffing reductions at this scale will cripple HUD’s ability to perform its basic responsibilities and legal obligations. HUD only recently rebuilt its workforce after a 20 percent drop between 2012 and 2019, and further cuts threaten disaster recovery efforts while delaying urgently needed housing development.
    Earlier this year, Senator Padilla sounded the alarm that these wide-ranging cuts would hamper HUD’s ability to support vulnerable communities and address the housing and homelessness crises.
    “We write to express concern about reports that the Department of Housing and Urban Development (HUD) is considering closing nearly two-thirds of the Department’s field offices, leaving most states and the District of Columbia without critical sites or staff,” wrote the lawmakers. “These reports follow the unlawful mass termination of probationary federal employees, HUD’s announcement that employees at GS-13 and below in the Office of Field Policy and Management would be terminated, and reports that the Department plans to cut its agency-wide workforce by at least half.”
    “We strongly urge HUD to maintain existing field offices with adequate staffing levels and to fully and immediately reinstate civil servants who have been illegally terminated,” continued the lawmakers.
    By law, HUD is required to have at least one field office in every state to process mortgage insurance applications, yet the Trump Administration’s plan would leave 34 states without a field office. Additionally, HUD must conduct and publish a cost-benefit analysis before implementing any “plan for the reorganization of any regional, area, insuring, or other field offices of the Department.”
    In addition to Padilla and Cleaver, the letter was also signed by Senate Minority Leader Chuck Schumer (D-N.Y.), House Minority Leader Hakeem Jeffries (D-N.Y.-08), and U.S. Senators Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Catherine Cortez Masto (D-Nev.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), Mazie Hirono (D-Hawaii), Ben Ray Luján (D-N.M.), Gary Peters (D-Mich.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), and Ron Wyden (D-Ore.).
    Representatives Gabe Amo (D-R.I.-01), Becca Balint (D-Vt.-AL), Nanette Barragán (D-Calif.-44), Joyce Beatty (D-Ohio-03), Sanford Bishop (D-G.-02), Shontel Brown (D-Ohio-11), Salud Carbajal (D-Calif.-24), Troy Carter (D-La.-02), Sean Casten (D-Ill.-06), Judy Chu (D-Calif.-28), Gilbert Cisneros (D-Calif.-31), Yvette Clarke (D-N.Y.-09), Steve Cohen (D-Tenn.-09), Lou Correa (D-Calif.-46), Jim Costa (D-Calif.-21), Jasmine Crockett (D-Texas-30), Danny Davis (D-Ill.-07), Mark DeSaulnier (D-Calif.-10), Debbie Dingell (D-Mich.-06), Dwight Evans (D-Penn.-03), Cleo Fields (D-La.-06), Shomari Figures (D-Ala.-02), Laura Friedman (D-Calif.-30), Sylvia Garcia (D-Texas-13), Jimmy Gomez (D-Calif.-34), Al Green (D-Texas-09), Steven Horsford (D-Nev.-04), Chrissy Houlahan (D-Penn.-06), Jonathan Jackson (D-Ill.-01), Pramila Jayapal (D-Wash.-07), Hank Johnson (D-Ga.-04), William Keating (D-Mass.-09), Robin Kelly (D-Ill.-02), Timothy Kennedy (D-N.Y.-26), Ro Khanna (D-Calif.-17), Raja Krishnamoorthi (D-Ill.-08), Greg Landsman (D-Ohio-01), Sam Liccardo (D-Calif.-16), Ted Lieu (D-Calif.-36), Stephen Lynch (D-Mass.-08), Doris Matsui (D-Calif.-07), Jennifer McClellan (D-Va.-04), Betty McCollum (D-Minn.-04), Kristen McDonald Rivet (D-Mich.-08), Morgan McGarvey (D-Ky.-03), James McGovern (D-Mass.-02), LaMonica McIver (D-N.J.-10), Gregory Meeks (D-N.Y.-05), Robert Menendez (D-N.J.-08), Gwen Moore (D-Wis.-04), Frank Mrvan (D-Ind.-01), Kevin Mullin (D-Calif.-15), Jerrold Nadler (D-N.Y.-12), Eleanor Holmes Norton (D-D.C.-AL), Alexandria Ocasio-Cortez (D-N.Y.-14), Johnny Olszewski (D-Md.-02), Ilhan Omar (D-Minn.-05), Mark Pocan (D-Wis.-02), Ayanna Pressley (D-Mass.-07), Mike Quigley (D-Ill.-05), Delia Ramirez (D-Ill.-03), Jamie Raskin (D-Md.-08), Deborah Ross (D-N.C.-02), Mary Gay Scanlon (D-Pa.-05), David Scott (D-Ga.-13), Terri Sewell (D-Ala.-07), Brad Sherman (D-Calif.-32), Emilia Sykes (D-Ohio-13), Mark Takano (D-Calif.-39), Bennie Thompson (D-Miss.-02), Dina Titus (D-Nev.-01), Rashida Tlaib (D-Mich.-12), Paul Tonko (D-N.Y.-20), Ritchie Torres (D-N.Y.-15), Nydia Velázquez (D-N.Y.-07), Debbie Wasserman Schultz (D-Fla.-25), Nikema Williams (D-Ga.-05), and Frederica Wilson (D-Fla.-24) also signed the letter.
    Senator Padilla believes everyone deserves access to affordable and safe housing and recognizes the need to drastically increase the affordable housing stock to address the homelessness crisis facing California and the country, including to support disaster victims. In the aftermath of the Los Angeles fires, Padilla introduced the bipartisan Disaster Housing Reform for American Families Act to expedite, expand, and improve temporary housing available to victims of disasters like wildfires and storms. Last year, he announced the reintroduction of his Housing for All Act, a comprehensive approach to invest in proven, locally-developed solutions to address the homelessness and affordable housing crises.
    Full text of the letter is available here and below:
    Dear Secretary Turner:
    We write to express concern about reports that the Department of Housing and Urban Development (HUD) is considering closing nearly two-thirds of the Department’s field offices, leaving most states and the District of Columbia without critical sites or staff. These reports follow the unlawful mass termination of probationary federal employees, HUD’s announcement that employees at GS-13 and below in the Office of Field Policy and Management would be terminated, and reports that the Department plans to cut its agency-wide workforce by at least half. We urge you to immediately reverse any plans to implement these short-sighted and illegal efforts that undermine the ability of HUD to accomplish its mission and legal obligations.
    The United States faces a severe fair and affordable housing and homelessness crisis. HUD is the Federal agency responsible for national policy and programs that address America’s housing needs, improve and develop communities, and enforce fair housing laws, deeply impacting millions of families across the nation. HUD field offices collect local data to inform policymaking, administer and oversee department programs, manage and distribute funding, enforce department regulations and policies, provide guidance and support to local stakeholders, and play a critical role in developing and maintaining local relationships that ensure the success of initiatives and projects. In many cases, state and local stakeholders operate with limited capacities and require HUD assistance. HUD currently has at least one field office in every State and the District of Columbia to help implement the Department’s important mission at the local level.
    Reports that HUD is planning the illegal closure of field offices are extremely concerning. HUD is expressly required by law to maintain a field office in every state. Federal law also requires HUD to conduct and publish a cost-benefit analysis before implementing any “plan for the reorganization of any regional, area, insuring, or other field office of the Department.” This analysis is required to include, but not be limited to, an analysis of the impact on the local economy, an estimate of the effect of reorganization on the availability, accessibility, and quality of services provided, and credible evidence substantiating the impact of reorganization on department costs. These legal requirements are designed to protect the Department and the nation, including taxpayers, HUD’s business, nonprofit, and government partners, thousands of patriotic civil servants, and millions of families who rely on the services that HUD field offices provide.
    In last year’s report on top management challenges, the HUD Office of Inspector General noted that HUD “still faces capacity challenges that affect its ability to oversee grantees, contractors, and financial services counterparties; provide high-touch technical assistance; and modernize its programs and IT systems.” Despite this reality, a February 11, 2025, Executive Order directed agency heads, including HUD, to “promptly undertake preparations to initiate large-scale reductions in force (RIF).” A subsequent memo from the Office of Management and Budget (OMB) and the Office of Personnel Management (OPM) to agency heads directed each agency to submit Agency RIF and Reorganization Plans to OMB and OPM by Thursday, March 13, 2025.
    We strongly urge HUD to maintain existing field offices with adequate staffing levels and to fully and immediately reinstate civil servants who have been illegally terminated. We also ask for responses to the following information request no later than Wednesday, April 2, 2025.
    1. Please provide a copy of any formal analysis conducted by HUD’s Office of General Counsel regarding HUD’s plans to close field offices, including an analysis of how such plans align with existing legal requirements that HUD maintain an office in each state.
    2. Please provide a copy of the cost-benefit analysis of field reorganizations required at 42 U.S.C. 3535 that HUD has conducted as part of its plans to close field offices. Please indicate when this analysis will be published in the Federal Register and detail any additional actions the agency has already taken to alter, reduce, or reorganize field offices.
    3. Please provide any formal analysis HUD has performed regarding the impact of reported office reductions on the Department’s ability to:
    a. Collect data used to inform HUD’s policy decisions and department strategies.
    b. Administer, monitor, and oversee complex programs including ensuring compliance with regulations and policies.
    c. Manage and distribute federal funding and ensure these funds are used appropriately.
    d. Enforce department policies related to fair housing, including investigating complaints related to violations of the Fair Housing Act.
    e. Provide technical assistance to local and state agencies, non-profit organizations, and other department stakeholders.
    f. Conduct public outreach including educating the local community and developing partnerships with local organizations to address housing and community development challenges.
    4. Please identify the DOGE Team Lead at HUD and the name and employing agency of all DOGE Task Force members working under the team leader.
    5. Please provide a copy of all HUD and DOGE documents reflecting any plans to reduce, alter, or eliminate HUD programs, functions or offices.
    6. Please provide a copy of all HUD and DOGE documents reflecting any staff reduction that has already taken place and future staff reduction plans by program office and further disaggregated by field office and Washington, DC headquarters. Indicate whether the Department plans to eliminate or backfill each impacted position.
    7. Please provide copies of HUD’s formal Agency RIF and Reorganization Plans as submitted to OMB.
    We thank you for your prompt attention to this urgent matter.
    Sincerely,

    MIL OSI USA News

  • MIL-OSI USA: Padilla Leads Push Demanding Trump Rescind Illegal Anti-Voter Executive Order

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Senators to Trump: “Requirements in this illegal order would likely disenfranchise millions of American voters…places a variety of other process burdens on voters, especially married women, rural residents, and low-income voters, and communities of color.”

    WASHINGTON, D.C. — U.S. Senator Alex Padilla (D-Calif.), Ranking Member of the Senate Committee on Rules and Administration and California’s former Secretary of State, led 14 Democratic Senators in calling on President Trump to revoke his illegal anti-voter executive order that would disenfranchise millions of Americans.

    “This unlawful directive exceeds your authority over an independent agency and would likely disenfranchise millions of eligible American voters by creating barriers to voting, while also inviting chaos into state voter registration processes – including by inappropriately sharing Americans’ data with the U.S. Department of Government Efficiency (DOGE),” wrote the Senators. “Under the Constitution and existing law, this Executive Order cannot be implemented. Sadly, we are not surprised at your continued efforts to undermine our free and fair elections. From welcoming foreign election interference in our elections, to supporting the January 6 insurrection, to promoting baseless election conspiracy theories, your dangerous rhetoric has undermined public confidence in our election system.”

    The proof of citizenship requirements in the executive order would restrict the right to vote for millions of Americans given the burden it creates to obtain these documents. Nearly half of all American citizens do not have valid passports, and millions more have a legal name that differs from other government-issued documents, including up to 69 million married women whose birth certificates no longer match their legal name.

    The Senators emphasized that the order runs counter to the constitutional foundation that elections are to be primarily administered by the states. They also sounded the alarm on the order’s attempt to empower the Department of Government Efficiency (DOGE) and the Department of Homeland Security (DHS) to review state voter registration lists, other state records, and various federal databases, with the power of subpoena.

    “Voting by noncitizens is already a federal crime and, despite unsubstantiated claims to the contrary, is extremely rare. By interjecting DOGE into the process, this order would interfere with states’ maintenance of voter registration lists, compromising voters’ personal information,” continued the Senators.

    “The new federal voter registration requirements in this illegal order would likely disenfranchise millions of American voters. Millions of Americans do not have passports and many face challenges obtaining other documents that would be required by this order, if it was ever implemented,” concluded the Senators. “This order also places a variety of other process burdens on voters, especially married women, rural residents, and low-income voters, and communities of color.”

    In addition to Senator Padilla, the letter is also signed by Senate Minority Leader Chuck Schumer (D-N.Y.) and U.S. Senators Cory Booker (D-N.J.), Catherine Cortez Masto (D-Nev.), Mazie Hirono (D-Hawaii), Angus King (I-Maine), Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Patty Murray (D-Wash.), Jack Reed (D-R.I.), Brian Schatz (D-Hawaii), Adam Schiff (D-Calif.), Raphael Warnock (D-Ga.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).

    In a statement earlier this week, Senator Padilla condemned Trump’s unlawful attempt at a Presidential power grab through his anti-voter executive order.

    Full text of the letter is available here and below:

    Dear President Trump,

    We write to demand that you immediately rescind your recent Executive Order “Preserving and Protecting the Integrity of American Elections.” This unlawful directive exceeds your authority over an independent agency and would likely disenfranchise millions of eligible American voters by creating barriers to voting, while also inviting chaos into state voter registration processes – including by inappropriately sharing Americans’ data with the U.S. Department of Government Efficiency (DOGE).

    Under the Constitution and existing law, this Executive Order cannot be implemented. Sadly, we are not surprised at your continued efforts to undermine our free and fair elections. From welcoming foreign election interference in our elections, to supporting the January 6 insurrection, to promoting baseless election conspiracy theories, your dangerous rhetoric has undermined public confidence in our election system.

    This order runs counter to the constitutional foundation that elections are to be primarily administered by the states. The Federal role in elections is focused on helping states with the costs and technical challenges and ensuring that the right to vote is appropriately protected. This order places new mandates on the states and inserts new federal interference in state voter registration processes by federal agencies, including the Department of Justice and the Department of Homeland Security. We expect state and local election administrators of both parties to have significant legal and operational concerns about this order.

    One of the most disturbing aspects of this illegal order is Sec. 2(b)(iii), which attempts to empower DHS and the DOGE Administrator to review state voter registration lists, other state records and various federal databases, with the power of subpoena. Voting by noncitizens is already a federal crime and, despite unsubstantiated claims to the contrary, is extremely rare. By interjecting DOGE into the process, this order would interfere with states’ maintenance of voter registration lists, compromising voters’ personal information. This effort by DOGE is similar to your 2017 Executive Order that established the “Presidential Advisory Commission on Election Integrity” that sought voter files from states and was rejected by 44 states and the District of Columbia. If this provision were implemented, it would allow Elon Musk and DOGE to recreate this effort to purge state voter databases, preventing the participation of eligible American voters.

    The Election Assistance Commission (EAC) was created as an independent, evenly balanced agency in the Help America Vote Act (HAVA), which was enacted on an overwhelming bipartisan basis. The EAC receives appropriations from Congress to support states with the growing financial and technical challenges of administering elections in thousands of jurisdictions across the nation on a nonpartisan basis. This order lacks the authority to place new conditions on Congressionally appropriated funding or order the EAC require documents that many eligible Americans do not have in order to register to vote in federal elections.

    The new federal voter registration requirements in this illegal order would likely disenfranchise millions of American voters. Millions of Americans do not have passports and many face challenges obtaining other documents that would be required by this order, if it was ever implemented. This order also places a variety of other process burdens on voters, especially married women, rural residents, and low-income voters, and communities of color.

    For these reasons, we must urge you to rescind this illegal order.

    Sincerely,

    MIL OSI USA News

  • MIL-OSI USA: Murray, Former Health Department Leaders, Sound Alarm on Trump and RFK Jr. Gutting HHS

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ICYMI: At Press Conference on HHS Cuts, Senator Murray Slams Trump Plans to Push Out Thousands of Health Workers, Gut Essential Services

    ***WATCH HERE; DOWNLOAD VIDEO HERE***

    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, held a virtual press conference with former FDA Commissioner Dr. Robert Califf, former NIH Director Dr. Monica Bertagnolli, former CMS Administrator Chiquita Brooks-LaSure, and Seattle & King County Public Health Director Dr. Faisal Khan, in response to President Trump’s plans to push out roughly 20,000 employees at the Department of Health and Human Services (HHS) and hollow out the Department, which is responsible for protecting Americans’ health and delivering essential health and social services.

    Yesterday’s announcement follows weeks of mass firings and chaos at HHS that has prevented the Department from executing its mission to protect people’s health, and an onslaught of detrimental policies that are halting lifesaving biomedical research and more. HHS announced yesterday that it plans to cut its workforce from 82,000 to 62,000 (a 25% reduction) through a combination of mass firings and buy-outs and remake HHS without thoughtful consideration and partnership with Congress. 

    “Yesterday, President Trump and RFK Jr. announced a major reorganization of the Department of Health and Human Services. Long story short—they may as well be renaming it the Department of Disease. Because their plan is putting lives in serious jeopardy. They want to push out 20,000 public health workers, cut essential programs willy nilly, and undermine medical research, health care access, public health, and more—with no concern whatsoever for the fact they are putting this country on a dangerous collision course,” said Senator Murray. “There’s no two ways about it—this is the kind of carelessness that gets people killed. Maybe it doesn’t seem like such a big deal if you are a billionaire like Trump or Elon Musk, whatever happens, they will be able to afford whatever health care they need. But folks back here in Washington state—they are the ones who are going to be left picking up the pieces of the health department Trump is smashing to bits.”

    “I think you all know that a kind of an additional 3,500 people on top of the arbitrary cuts that have already occurred, in addition to all the people who are leaving because of what they’re saying, is likely to leave the FDA unable to do its critical work. And it’s really striking to me how the rhetoric of, for example, better nutrition, enhanced food safety, innovation in medical products runs contrary to what’s being done with the workforce, instead of a carefully thought-out plan. I think all of us will probably agree there are things about the federal government that could be better. Many of us would have loved to have seen the HR system improved. But to make the cuts based on words in someone’s job description or grants that have particular words in them without a thorough consideration of the issues is likely to jeopardize human lives,” said Dr. Robert Califf, former Commissioner of the Food and Drug Administration (FDA).

    “The current funding cuts and delays, even if temporary, are already producing irreparable harm. Especially to those of the next generation, and not just in a few targeted research areas. Ironically, this approach undermines the success of the laudable initiatives championed by the current administration. Standing research, labs, our staff, as Dr. Kaliff said, clinical trials are halting midstream. Valuable administrative staff that are essential to ensure that our public dollars are spent wisely and that their use is tracked carefully to avoid fraud or any other kind of risk, are being laid off at NIH. And postdoctoral fellows and new faculty members are unable to find jobs,” said Dr. Monica Bertagnolli, former Director of the National Institutes of Health (NIH). “Promising ongoing research is being stopped midstream, and the effect on the biomedical research workforce is chilling. How can we ask talented young people to continue to devote so many years of study required to succeed as a biomedical researcher when the future is so uncertain? Today, we are just beginning to see progress in such devastating diseases which have long been hopeless, Alzheimer’s disease, diabetes, pancreatic cancer, there’s cracks in the wall for each one of these terrible things, all because of NIH funding. And this is proven to be a great investment for the American taxpayers, producing not only extraordinary progress against the most common deadly diseases and significant profits for our nation’s economy. How does it make sense to see progress stalled? The loss to our nation on so many levels is so great.”

    “Any cut you make to a health agency should be done with incredible care and consideration for the hundreds of millions of Americans who rely on their work to stay healthy and get treatment when they’re sick,” said Chiquita Brooks-LaSure, senior fellow at The Century Foundation and former CMS administrator. “When you take a wrecking ball to an agency like CMS, you’re taking a wrecking ball to the people who are out across the country ensuring our parents and grandparents can get safe, affordable care as they age. You’re taking a wrecking ball to cancer patients who need a new, innovative treatment to be covered. You’re taking a wrecking ball to mothers and newborns who are both at the most critical points of their lives. We certainly have progress to make to ensure every American can access safe, affordable, timely health care but laying off thousands of people working toward that progress doesn’t move us forward.”

    “Everything that happens at the federal level eventually filters down to the state level rather quickly. This is where the rubber meets the road, so to speak,” said Dr. Faisal Khan, Seattle & King County Director of Public Health. “We are reeling from the news that we received at 3am this past Monday about cancelations, immediate terminations, three federal grants. Our state colleagues in Olympia in Washington State are in the same boat, essentially. I’ll give you one example, 45 community health workers, which are critical to linking people in the most vulnerable and zip codes of greatest need to the services that administrator Brooks was talking about, and my colleagues were talking about, are now at risk in terms of losing their jobs. We’ve spent years training them, embedding them with community-based organizations across the region. That is simply not something we can reconstruct if funding should return in a few months’ time. What incenses me most as a public health professional, is the assumption by decision makers in Washington that somehow, if funding is returned or resurrected six months to a year from now, that we will simply pick up the pieces and continue on from where we were. These are not potted plants. These are highly trained public health professionals. They have moved on. They’ve got busy personal and professional lives. We have just shot ourselves in both feet at the same time. This is a very ill-conceived and ill-considered process, and we are bewildered at what is going on… At the same time, we have an HHS Secretary that keeps talking about stuff that we have to debunk on a daily basis in telling people and convincing people that vitamin A is not the answer a vaccine is. At this point in time, all we can hope for is some reconsideration of the still considered decision. But quite frankly, it is looking pretty bleak. We’re having to look at a systematic disassembly of public health services that we’ve built up over many, many years, if not decades.”

    Among much else, Trump, RFK Jr., and Musk plan to cut:

    • 3,500 employees at the Food and Drug Administration (FDA), which is charged with protecting Americans’ health by ensuring the safety and effectiveness of medicines, biologics (including vaccines), and medical devices–and regulating food safety, cosmetics, and tobacco products.
    • 2,400 employees at the Centers for Disease Control and Prevention (CDC), which is charged with protecting the American people from health threats, including infectious diseases. 
    • 1,200 employees at NIH, the world’s premier medical research agency, which propels biomedical research that produces life-changing and, in many cases, lifesaving treatments and cures. These cuts come as the Trump administration has already systematically decimated ongoing work at NIH to advance new cures and treatments.
    • 300 employees at the Centers for Medicare and Medicaid Services (CMS), which has long been understaffed and is charged with helping to ensure over 100 million Americans have access to health insurance by overseeing Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and the Affordable Care Act marketplaces. 

    Senator Murray led her colleagues forcefully opposing the nomination of notorious anti-vaccine activist RFK Jr. to be Secretary of HHS and she has long worked to combat vaccine skepticism and highlight the importance of scientific research and vaccines. Murray was also a leading voice against the nomination of Dr. Dave Weldon to lead CDC, repeatedly speaking up about her serious concerns with the nominee immediately after their meeting—after the White House suddenly withdrew Dr. Weldon’s nomination moments before his committee hearing, Murray released a statement calling on the White House to “nominate someone for this position who at bare minimum believes in basic science and will help lead CDC’s important work to monitor and prevent deadly outbreaks.” In 2019, Senator Murray co-led a bipartisan hearing in the HELP Committee on vaccine hesitancy and spoke about the importance of addressing vaccine skepticism and getting people the facts they need to keep their families and communities safe and healthy. Ahead of the 2019 hearing, as multiple states were facing measles outbreaks in under-vaccinated areas, Murray sent a bipartisan letter with former HELP Committee Chair Lamar Alexander pressing Trump’s CDC Director and HHS Assistant Secretary for Health on their efforts to promote vaccination and vaccine confidence.

    As a longtime appropriator and former Chair of the Senate HELP Committee, Murray has long fought to boost biomedical research, strengthen public health infrastructure, and make health care more affordable and accessible. Over her years as a senior member of the Appropriations Committee, she has secured billions of dollars in increases for biomedical research at the National Institutes of Health, and during her time as Chair of the HELP Committee she established the new ARPA-H research agency as part of her PREVENT Pandemics Act to advance some of the most cutting-edge research in the field. As Chair of the HELP Committee, Murray was also instrumental in crafting the American Rescue Plan Act, including its landmark investments in public health and health care. Senator Murray was also the lead Democratic negotiator of the bipartisan 21st Century Cures Act, which delivered a major federal investment to boost NIH research, among many other investments. Murray is also the lead sponsor of thePublic Health Infrastructure Saves Lives Act (PHISLA), legislation to establish $4.5 billion in dedicated, annual funding for a grant program to build up and maintain the nation’s public health system across the board. 

    Senator Murray’s remarks, as delivered on today’s press call, are below and HERE:

    “Thank you all for joining me on this very important call. Yesterday, President Trump and RFK Jr. announced a major reorganization of the Department of Health and Human Services.

    “Long story short—they may as well be renaming it the Department of Disease. 

    “Because their plan is putting lives in serious jeopardy. They want to push out 20,000 public health workers, cut essential programs willy nilly, and undermine medical research, health care access, public health, and more—with no concern whatsoever for the fact they are putting this country on a dangerous collision course.

    “Trump and Secretary Kennedy are gutting our ability to track disease outbreaks, like measles and bird flu, in real time and respond to them.

    “They are pushing out people at FDA working to make sure our food and our medicines are safe, working to approve new drugs in a timely manner, and working to make sure we respond quickly to save lives when food and infant formula are contaminated.

    “They are making it harder for Americans to get help accessing health insurance through Medicare, Medicaid, and the Affordable Care Act marketplaces.

    “And let’s not forget how Trump and Kennedy are putting promising biomedical research through the shredder, and they’re empowering anti-vaxxers to light federal dollars on fire by investigating bogus, debunked conspiracies.

    “Preventing pandemics costs something, but failing to prevent them—well, that costs a whole lot more.

    “All of this is making us less prepared for the next public health emergency—whether it’s a pandemic, a natural disaster, a super bug, a food borne outbreak—goodness knows what the next crisis will be!

    “But instead of preparing for it, they are preparing to ignore it. And that’s to say nothing of the fires that are already burning today— like the opioid epidemic, or the maternal mortality crisis, or measles—which is in now 19 states and counting.

    “There’s no two ways about it—this is the kind of carelessness that gets people killed. Everyone needs to understand this—this is not hyperbole. 

    “When our hospitals are overwhelmed with sick kids because our local public health officials can’t track a worsening measles outbreak—that is a life and death issue.

    “When e coli outbreaks become hard to pinpoint, or whooping cough becomes impossible to trace, when cancer cures are tossed in the shredder, or you can’t afford treatment at all because you couldn’t get help enrolling in a health plan—all of that is life and death.

    “Maybe it doesn’t seem like such a big deal if you are a billionaire like Trump or Elon Musk, whatever happens, they will be able to afford whatever health care they need. But folks back here in Washington state are the ones who are going to be left picking up the pieces of the health department Trump is smashing to bits.

    “These are not problems that go away on their own. A fire doesn’t put itself out—at least not until everything is ashes.

    “Trump and RFK Jr. may be content to let the country burn, but I am not. I am sounding the alarm, and doing everything I can to bring attention to this—before things go from bad to worse.

    “And I’m so pleased to have some experts with me today who can speak firsthand about the work that HHS does, why it matters to our families, and what is at stake if Trump and RFK Jr. succeed in dismantling this Department board by board. 

    “So, thank you all to my guests today. And let me start by turning it over to Dr. Califf.”

    MIL OSI USA News

  • MIL-OSI United Nations: Haiti reaches ‘yet another crisis point’ as gangs tighten their grip

    Source: United Nations 2-b

    Peace and Security

    The UN human rights chief sounded the alarm on Thursday over the rapidly deteriorating situation in Haiti, calling it a “catastrophe” fuelled by gang violence, widespread impunity and a political process that is hanging by a thread.

    Volker Türk told the Human Rights Council in Geneva that the country had reached “yet another crisis point,” with heavily armed gangs expanding their control, public institutions in ruins and a humanitarian emergency deepening by the day.

    “I am not sure the usual description of gang violence captures the amount of unbearable suffering that has been inflicted on the Haitian people,” Mr. Türk said.

    Between July 2024 and February 2025, 4,239 people were killed and 1,356 injured, with 92 per cent of casualties attributed to gun violence.

    Gangs, armed with increasingly sophisticated weapons mostly trafficked from abroad, are killing civilians, destroying schools and healthcare facilities, and using sexual violence and mass kidnappings to terrorise communities.

    Destruction as governance

    The rights chief warned that gangs are no longer just operating in pockets of Port-au-Prince – they are implementing their own rule across wider parts of the capital and beyond.

    The Viv Ansanm gang coalition and others have launched coordinated attacks, often outnumbering police, and have destroyed or taken over schools, orphanages, courts, media outlets and hospitals.

    In one December incident alone, at least 207 people were killed over five days in Cité Soleil.

    Sexual violence is being used deliberately to assert control, Mr. Türk said, citing gang rapes in public spaces and even the execution of victims after assault.

    The forced recruitment and trafficking of children is also on the rise.

    Meanwhile, more than 700 kidnappings were documented during the reporting period. “Those who attempted to resist abduction were often shot dead,” Mr. Türk said.

    Police violence and impunity

    Despite efforts by the Haitian National Police and the Security Council-mandated Multinational Security Support Mission, the State is losing ground.

    Law enforcement operations against gangs have resulted in over 2,000 people killed or injured – a 60 per cent increase – with nearly a third of those victims not involved in any violence.

    OHCHR documented at least 219 extrajudicial executions by specialised police units during the reporting period, up from just 33 the year before.

    There has also been a rise in mob lynchings and self-defence groups, sometimes with police complicity.

    Mr. Türk stressed the urgent need to accelerate the deployment of the Multinational Security Support Mission and ensure full human rights compliance mechanisms are in place.

    Hunger, displacement, despair

    The human toll of the violence is staggering. More than one million people are now displaced, 40,000 in recent weeks alone.

    Half of all Haitians – 5.5 million people – face acute food insecurity and two million have been reduced to emergency hunger levels.

    Nearly 6,000 people are living in famine-like conditions, while 500,000 children are displaced –  a quarter suffering stunted growth due to malnutrition.

    Only half of health facilities in the capital are fully operational, and 31 per cent have shut down due to insecurity.

    “The impact on children is particularly devastating,” said Mr. Türk. “[This] will impact them for life.”

    Justice, not just security

    The High Commissioner welcomed Haiti’s recent decision to establish two specialised judicial units to tackle human rights violations and financial crimes but said much more must be done.

    “The most crucial first step here is to stop the illicit flow of arms into the country,” he said, stressing the need to fully implement the Security Council’s arms embargo, travel bans and asset freezes.

    Mr. Türk emphasised that “there is a way out”, but only with political will, international support and urgent action to end the cycle of corruption, impunity and senseless violence.

    “I call on each and every one of you, including the media, to put the spotlight on this crisis,” he said. “The Haitian people cannot be forgotten.”

    MIL OSI United Nations News

  • MIL-OSI Canada: Expanding urgent care across Alberta

    [. In response, the government is making significant investments to ensure every Albertan has access to high-quality care close to home. Currently, more than 35 per cent of emergency department visits are for non-life-threatening conditions that could be treated at urgent care centres. By expanding these centres, Alberta’s government is enhancing the health care system and improving access to timely care.

    If passed, Budget 2025 includes $15 million to support plans for eight new urgent care centres and an additional $2 million in planning funds for an integrated primary and urgent care facility in Airdrie. These investments will help redirect up to 200,000 lower-acuity emergency department visits annually, freeing up capacity for life-threatening cases, reducing wait times and improving access to care for Albertans.

    “More people are choosing to call Alberta home, which is why we are taking action to build capacity across the health care system. Urgent care centres help bridge the gap between primary care and emergency departments, providing timely care for non-life-threatening conditions.”

    Adriana LaGrange, Minister of Health

    “Our team at Infrastructure is fully committed to leading the important task of planning these eight new urgent care facilities across the province. Investments into facilities like these help strengthen our communities by alleviating strains on emergency departments and enhance access to care. I am looking forward to the important work ahead.”

    Martin Long, Minister of Infrastructure

    The locations for the eight new urgent care centres were selected based on current and projected increases in demand for lower-acuity care at emergency departments. The new facilities will be in west Edmonton, south Edmonton, Westview (Stony Plain/Spruce Grove), east Calgary, Lethbridge, Medicine Hat, Cold Lake and Fort McMurray.

    “Too many Albertans, especially those living in rural communities, are travelling significant distances to receive care. Advancing plans for new urgent care centres will build capacity across the health care system.”

    Justin Wright, parliamentary secretary for rural health (south)

    “Additional urgent care centres across Alberta will give Albertans more options for accessing the right level of care when it’s needed. This is a necessary and substantial investment that will eventually ease some of the pressures on our emergency departments.”

    Dr. Chris Eagle, chief executive officer, Acute Care Alberta

    The remaining $2 million will support planning for One Health Airdrie’s integrated primary and urgent care facility. The operating model, approved last fall, will see One Health Airdrie as the primary care operator, while urgent care services will be publicly funded and operated by a provider selected through a competitive process.

    “Our new Airdrie facility, offering integrated primary and urgent care, will provide same-day access to approximately 30,000 primary care patients and increase urgent care capacity by around 200 per cent, benefiting the entire community and surrounding areas. We are very excited.”

    Dr. Julian Kyne, physician, One Health Airdrie

    Alberta’s government will continue to make smart, strategic investments in health facilities to support the delivery of publicly funded health programs and services to ensure Albertans have access to the care they need, when and where they need it. 

    Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.

    Quick facts

    • The $2 million in planning funds for One Health Airdrie are part of a total $24-million investment to advance planning on several health capital initiatives across the province through Budget 2025.
    • Alberta’s population is growing, and visits to emergency departments are projected to increase by 27 per cent by 2038.
    • Last year, Alberta’s government provided $8.4 million for renovations to the existing Airdrie Community Health Centre.

    Related information

    • Regional health corridors

    Multimedia

    • Watch the news conference

    MIL OSI Canada News

  • MIL-OSI USA: Father, son arrested on fentanyl trafficking, gun sales and immigration violations following ICE, multiagency investigation

    Source: US Immigration and Customs Enforcement

    LOS ANGELES – A father and son were arrested March 26, for trafficking fentanyl and illegal firearms sales. The investigation was conducted by U.S. Immigration and Customs Enforcement assisted by multiple federal and state law enforcement agencies focused on financial crimes in Southern California.

    “Transnational crime, including the trafficking of fentanyl and weapons, remains a persistent and dangerous threat to our communities,” said ICE Homeland Security Investigations acting Special Agent in Charge Los Angeles John Pasciucco. “HSI Los Angeles remains committed to combatting these threats by working alongside federal, state, and local law enforcement to dismantle criminal networks, disrupt trafficking routes and to bring these perpetrators to justice.”

    Antonio Espinoza Zarate, 55, also known as “El Gato,” and his son, Francisco Javier Espinoza Galindo, 31, were arrested and charged in U.S. District Court, Central District of California. Antonio Espinoza was also charged with illegal reentry of a removed alien.

    According to affidavits filed with the complaints, in July 2023, Antonio Espinoza sold a pistol, a rifle, 131 rounds of ammunition, and more than 500 grams of fentanyl pills to a buyer. He is not licensed to engage in the business of dealing in firearms.

    In August 2023, Antonio Espinoza allegedly sold an AR-style rifle and approximately one kilogram of fentanyl pills to a buyer, supplied by Francisco Espinoza. In January 2025, he allegedly sold a rifle, a pistol, a revolver, and ammunition to a buyer. The following month, with his son present, Antonio Espinoza sold more than 500 grams of fentanyl pills to a confidential informant.

    Antonio Espinoza is a citizen of Mexico, who has been previously deported in 2010, 2013, 2014 and 2017. He illegally reentered the United States following his removals. If convicted of all charges, both defendants would face a statutory maximum sentence of life in federal prison and a mandatory minimum sentence of 10 years in federal prison.

    “ATF is working alongside the Department of Homeland Security to assist with their immigration efforts in the Los Angeles area,” said ATF Special Agent in Charge Kenneth Cooper, Los Angeles Field Division. “These efforts are targeting gang members, drug traffickers and dangerous criminals who have entered the country illegally. Public safety is at the forefront of ATF’s mission. We will continue to provide our support to our partners at the Department of Homeland Security to ensure the safety of this community.”

    The ICE HSI-led El Camino Real Financial Crimes Task Force, is comprised of the United States Attorney’s Office for the Central District of California – Criminal Investigative Division; and the Bureau of Alcohol, Tobacco, Firearms and Explosives, with assistance from the Los Angeles Police Department.

    To report suspected fentanyl and firearms trafficking, contact 1-866-347-2423.

    Learn more about ICE HSI’s mission to protect children in your community on X at @HSILosAngeles.

    MIL OSI USA News