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Category: housing

  • MIL-OSI Australia: ABC Newcastle, Paul Culliver

    Source: Australian Ministers for Regional Development

    PAUL CULLIVER: Catherine King is the Federal Minister for Infrastructure and Transport and is visiting the region today. Let’s find out why. Minister, good morning to you.

    CATHERINE KING: Hi, Paul. How are you?

    PAUL CULLIVER: I’m very well. What brings you to the region?

    CATHERINE KING: Well, today– I was actually here three weeks ago inspecting the Singleton Bypass, which is going along well. It’s a really important part of infrastructure here for the region. But we’re also announcing today that because of the great work they’ve done on Singleton, it means that we can now bring money forward to get the Muswellbrook Bypass started. There was always an issue between the two projects, just making sure we had the workforce and capacity to do that work. So today we’re announcing that we’re going to bring that Muswellbrook Bypass money forward. We’ll start to see some early works and activities, movement of services and things like that through the course of the next few months so that we can start work to get that really– next important project underway.

    And then we’re also starting– we’re putting some money in to do the planning work to actually start thinking about how do we then build a bypass for Cessnock. And again, this is about making sure we can get the huge volumes of traffic that we’re now seeing through what largely were really small country towns originally, but have seen such growth, to get the traffic out, get people to work more quickly, but give people back their main streets.

    PAUL CULLIVER: All right. On the Muswellbrook Bypass – so how much money is sort of being put into this early start?

    CATHERINE KING: Yeah. So the total Australian Government commitment is $304 million. And the amount of money we’re bringing forward is really just– is to do that early work. So making sure that we’ve got the services movement, that’s often the biggest part of the preparation work that needs to be done. So, moving– whether it’s sewerage works, water, utilities, power utilities, those sorts of things. So quite a bit of the money, is being brought forward to do that.

    PAUL CULLIVER: Okay. And– sorry, when you say brought forward, how much sooner is all of this beginning?

    CATHERINE KING: Well, it was not due to start– early works were not due to start until next year, but they’ll start this year. So it’s a year early.

    PAUL CULLIVER: Okay, actual 12 months early.

    CATHERINE KING: Yeah, which is good.

    PAUL CULLIVER: Understood. Just explain when you say that– what, things went so well on the Singleton Bypass that that’s allowed this to happen? Just explain what that actually means.

    CATHERINE KING: Yeah, so there was always what we had to do when we looked at the pipeline of projects. And as people are driving around, you can see there’s a lot of work going on at the moment, whether it’s from Hexham, Raymond Terrace, obviously Singleton, that there just were some issues in terms of making sure we had the workforce to be able to deliver these projects, that Transport for New South Wales also could manage those projects as well. So we were waiting to see– get Singleton started first. That’s really now well and truly underway and looking very good, so that’s allowed us then to bring Muswellbrook a bit forward so that we can actually start work on that and have that continuous pipeline of work for people in the district.

    PAUL CULLIVER: Yeah, right. So it’s not so much that the people working on Singleton will be the people working on the Muswellbrook Bypass.

    CATHERINE KING: Well, obviously that will need to go out to tender. New South Wales will manage all of that project. But generally people move from work site to work site. Generally, that’s what happens in a region rather than importing people in.

    PAUL CULLIVER: [Talks over] Yeah, sure. What is the timeline for the Muswellbrook Bypass now?

    CATHERINE KING: Yeah, again, that will be managed by the New South Wales government. But as I said, early works which are all of the earthworks, the movement of services, that will happen this year with the major construction to start early 2026.

    PAUL CULLIVER: Okay. Well let’s talk about the Cessnock Bypass then. So, what’s the plan there?

    CATHERINE KING: Yeah, so really this is planning money. So it’s to plan to work out what to do. Like, where would you put the bypass? How do you make sure you get the efficient movement of traffic? What’s the landscape like? How do you actually move people around? We know that there are significant housing developments slated for Cessnock. Again, people are discovering what a great place it is to live, but that brings challenges when it comes to infrastructure. So really this is planning money for New South Wales to then start the planning work to look at how do you actually plan for a bypass, where does it go, what does it look like? There’ll be a lot of community consultation along the process, a lot of engineers having a look at it. But really that’s the money that we’re announcing today.

    There’s a number of key routes that lead right into Wollombi Road in the middle of Cessnock, and that population boom with surrounding suburbs and more traffic is making it pretty difficult for people. So really it’s looking to identify what were the alternate routes connecting those new housing developments in Bellbird and Cessnock South to those in the north, and then onward onto the Hunter Expressway – so what’s the best route for that, and how do you do that? That’s really what the money is for, to plan that.

    PAUL CULLIVER: So obviously with population in the Hunter growing and growing and growing, getting people around is a pretty high priority. So I understand the need for more road infrastructure – although I’m sure there’s many that would say, why aren’t we also doing more to improve public transport links, rail links? Why is there not more money being spent on that aspect of getting people around the Hunter?

    CATHERINE KING: Yeah, well, certainly in terms of the money that we are investing, a large proportion of it, you are right, is on that road infrastructure. Most people are still pretty reliant on their cars to get to work and to get to and from their homes to work. But certainly over time, those big public transport links, they are something that New South Wales Government obviously has looked at. We’re taking responsibility for trying to really get high speed rail up and running. We’ve invested substantially in that, and you’ll see some further work now that we’ve got the business case for that. You’ll see some further work now in the development stage of high speed rail. But really that is obviously Newcastle– from Newcastle, Central Coast into Sydney. But that is again looking at can people work from home more, how do we get bigger industries and bigger businesses into Newcastle and into the Hunter itself. So really there the investments that we make and then looking at further transport movements is really something we do in partnership with the New South Wales Government.

    PAUL CULLIVER: Speaking of rail, of course, the business case for the high speed rail between Sydney to Newcastle, I understand, was given to the Government just before the end of last year, still waiting for an investment decision. What can you tell me about that?

    CATHERINE KING: Yeah, well it’s with Infrastructure Australia at the moment. So, they will provide advice to government via Cabinet, via the budget process for when it’s ready for further investment. It will still need a development phase. That’s the next phase of work that will be recommended to us, which is again looking at that land acquisition, the finalising all of the geotechnical work and getting it ready for an investment decision. But we’ll make some announcements about that in due course, but Infrastructure Australia is looking at the business case at the moment.

    PAUL CULLIVER: Okay, so Infrastructure Australia haven’t said to the Government yet– you haven’t been provided advice as to whether it’s a goer or not?

    CATHERINE KING: They haven’t. That advice has not been provided to me yet, no.

    PAUL CULLIVER: Okay. We’re one week away from the Federal Budget. Might we see something in that?

    CATHERINE KING: Again, we’ll make investment decisions when we’ve got that advice. I’m not going to push Infrastructure Australia to how– the timeline of their job. They will– it’s a big piece of work, so they’ll be doing their analysis of it. They’ll provide advice to the Government, and then we’ll make our decisions about what the next phase of it will be. But really, it’s gone through the sort of exploratory stage. It will then have to go into the development stage, which again, is getting all of the planning approvals to do the work. And we’ll have some further announcements to make about that in due course.

    PAUL CULLIVER: All right. We’re not too far away from a federal election. You’re not going to turn up in the Hunter during a federal election with the Prime Minister and say, we’re building high speed rail?

    CATHERINE KING: Nice try, nice try. We’re very committed to high speed rail. And the Prime Minister has been talking about it for a long period of time. We’re serious about getting it done properly, making sure that we’ve got all of the information we need to be able to make those investment decisions. But also, if anything I’ve learnt from this job in the last three years in Inland Rail in particular, when you look at the report into Inland Rail, is don’t start making investment decisions when you don’t know how much it’s going to cost and you haven’t got that planning work done. So actually getting planning approvals will really be the next most important phase for high speed rail.

    PAUL CULLIVER: All right, if I can just ask you about an idea that’s come from the Coalition – Peter Dutton has been talking about proposing a referendum to change the Constitution to allow the Government to deport dual citizens convicted of serious crimes. What do you think of this idea?

    CATHERINE KING: I think it’s just yet another thought bubble from him. I don’t think he’s thought it through. When he wants to take the country to a referendum on decisions that– like, really? It just seems madness to me. I think it’s a thought bubble, and I reckon you’ll see him walk away– crab walk away from it in the next few days or so. It’s been a bit of a pattern from him. I think we’re supposed to also be having another referendum on indigenous representation as well, according to him, but he hasn’t said much about that. He’s promised we were going to do that as well. So let’s see, let’s see.

    PAUL CULLIVER: You don’t think it’s a power that the Australian Government should have?

    CATHERINE KING: I think it’s a thought bubble from Peter Dutton. I think that’s what it is.

    PAUL CULLIVER: All right, Minister, thanks for your time today.

    CATHERINE KING: Thanks very much.

    PAUL CULLIVER: Catherine King, the Federal Minister for Infrastructure and Transport, in the region today to announce that the Muswellbrook Bypass is getting brought forward by about 12 months.

    MIL OSI News –

  • MIL-OSI Australia: 2HD Breakfast, Paul King

    Source: Australian Ministers for Regional Development

    RICHARD KING: I did mention I received a– hang on, where is it now. Yep, the Minister for Infrastructure, Transport, Regional Development and Local Government in our neck of the woods this morning. It’s an announcement about funding for a new Cessnock bypass and Muswellbrook bypass. In fact, the Minister is on the line now. Good morning, Minister.

    CATHERINE KING: Good morning Richard, how are you?

    RICHARD KING: Good, thank you. We had a little bit of confusion there. We’ve had phone calls and text messages flying all over the place. But yeah, welcome back to our area. And look, I mentioned earlier when I said I was hopefully going to be speaking to you this morning. I get a lot of calls from people early in the morning heading up to the mines, et cetera, working in the Hunter Valley. I know– in fact, my son who’s an engineer is working on the Singleton bypass. But you’ve got some good news re a couple more bypasses that are going to be happening as well. Can you tell us about that?

    CATHERINE KING: Yeah. It’s actually three weeks ago I was up having a look at the progress on the Singleton bypass, and it’s really coming along well. But today we’re announcing– because that work is going so well, it’s meant that we’ve been able to bring the funding forward for starting the work early on the Muswellbrook bypass. That’s a really important 9.3 kilometres of road. It’ll take about 13,000 to 20,000 cars per day out of the main streets of Muswellbrook. That early money that we’re bringing forward means they can start doing some of the early work to get the site all ready for construction.

    So, that’s one of the announcements we’re making today. And of course, just making sure that we continue to plan for the future given the growth that we’re seeing throughout the Hunter, given people have discovered the secret of what a beautiful part of the world it is, and are wanting to move here. We’re seeing increasing numbers of housing development, and that’s also meant that for Cessnock, that has meant that trying to get some congestion out of there is going to be important. So, we’re putting in $5 million today to kick start the planning process to look at a future bypass for the town of Cessnock.

    RICHARD KING: We keep hearing about major infrastructure projects. They’re a huge blowout. Just re: Singleton, is that on track sort of budget-wise and time scale-wise, Minister?

    CATHERINE KING: Absolutely, as far as I understand it. Obviously, the people delivering the projects are the New South Wales Government. I was on site with Jenny Aitchison on the day three weeks ago, and that project is looking very good. As far as I’m aware, there haven’t been cost blow-outs on that project, which is great to hear. It was great to see some of the workers out there. Obviously, it’s a really important project for the region, and good to see that progress is being made.

    RICHARD KING: And look, while we’re talking about infrastructure projects, the extension of the M1, I mean, every time we have holidays or long weekends and even Friday afternoons, the people heading south, either up to Port Stephens or further north, there’s always a bottleneck here. We’ve had the widening of– in fact, it’s right in front of where I am at Sandgate. That widening process has been going on for a long time. I believe that should be finished next year. But the M1 extension, I think that’s a couple of years away at this stage, am I…

    CATHERINE KING: [Talks over] Yeah. Well one of one the issues we’ve obviously had– and you can see it all around, is there’s a huge amount of road construction happening at the moment, and that means that there’s been some capacity constraints in terms of these projects. So, trying to make sure we sequence them in a way that keeps fabulous construction workforce working, but also then doesn’t mean that we just don’t have the resources to be able to deliver these projects. So, you can see from whether it’s Hexham, Raymond Terrace, the Singleton bypass, now being able to bring forward the Muswellbrook bypass and start the work to plan the Cessnock bypass and then other projects that are on the schedule for delivery with New South Wales. Really, we’ve got to make sure that we keep that capacity and pipeline of projects going, but we also don’t stretch the system to such an extent that then costs flow out, or we have to import workers from elsewhere.

    RICHARD KING: 8:09 on Tuesday, my guest, the Minister for Infrastructure, Transport, Regional Development and Local Government – you’re wearing a number of hats here – Catherine King. Look, a hot topic at the moment, the financial situation of Newcastle Airport. I don’t know how much of this comes under your umbrella, but I know there was a fair amount of federal money that’s gone into the extension of the runway there. Under construction at the moment is the new international airport, but people are concerned about the liability for ratepayers of both Newcastle and Port Stephens, who jointly own the councils, jointly own those airports. How much oversight do you have on what’s happening at Newcastle Airport Minister?

    CATHERINE KING: Well, I don’t have a great deal of oversight into the financials of the airport. Obviously, it is run and managed by the two local councils, and so I don’t have line of sight of the management of the airport. We’ve certainly put grant money in for upgrading the infrastructure, which then enables an expansion of the airport, which then also enables you to have more passengers coming in if you have international flights coming in, and that obviously increases the capacity of the airport for revenue. But they are questions that you’d really need to direct to the local government area.

    RICHARD KING: Yeah, it’s a very hot topic. The Lord Mayor of Newcastle, who I spoke to yesterday, has requested an inquiry into that. So, we’ll then no doubt hear more from the New South Wales Government on that particular one.

    Another hot issue is obviously the budget which will be out next week. Jim Chalmers, our Treasurer, announced it will be a deficit budget next week after we’ve had a number of surpluses, and deficit budgets, I think, are predicted for the next decade. Will that have much of an impact on all these major infrastructure projects, Minister?

    CATHERINE KING: Well, we’ve got a $125 billion infrastructure pipeline that is built into the budget over the next decade. And so when projects come off, new projects come on. So that’s sort of sat and is pretty stable. We’ve increased in fact the budget from the Commonwealth for infrastructure funding. So I don’t anticipate that we’ll see– we’ll see some good news– we will see good news for new infrastructure projects in the budget. But let’s wait till budget night to see what all of the broader figures are. Obviously, I think what the Treasurer, Jim, was indicating that, you know, it would be no surprise to people that we have an event like Cyclone Alfred, that there is some impact on the budget in relation to that, whether it be in terms of claims for fixing roads, rail and but also the significant economic loss many of the businesses and individuals have experienced up there as well. That will, of course, have an impact, as every single disaster does each time on the budget, and he was just reporting that.

    RICHARD KING: Peter Dutton yesterday has called for the deregistration of the CFMEU following these fresh allegations of violence, particularly directed at women and the influence of organised crime and corruption within the CFMEU. And he’s calling for legislation changes, et cetera. I know Murray Watt said it’s reckless. Do you have a view on this?

    CATHERINE KING: Yeah, I do. I mean, a couple of things. I mean, the first thing, none of us tolerate this sort of activity in any workplace. It’s criminal activity. And we need to make sure that every– you know, from an infrastructure point of view, I want to make sure every assurance that every single dollar of taxpayer money is going to pay workers properly to make sure we actually deliver that infrastructure. And so, I’ve sought assurances from the states and territories that they’ve got the right processes in place to check that all the time.

    But in terms of the call from Peter Dutton yesterday, I mean, this is a bloke who has failed to clean up, you know, this– deal with these issues when they were last in government. Now thinks that deregistration– which basically means the union will still operate, they just won’t be registered and they won’t have any oversight. So, what we’ve done is put it into administration so that the people who we were concerned about have no part in running the organisation. You’ll see with deregistration, they will be back in pretty quickly. It means the union still can go to Fair Work Australia, the unions still exist. It just won’t be registered and it won’t have that regulatory oversight. So I’m not sure how that’s actually going to clean up or fix it.

    And then secondly, you know, we have already very strong laws in place that allow the sorts of things– you know, again, we’ve gone and looked to America to see what the Americans can tell us. We’re Australia and we know pretty much what our laws say. We’ve already got really strong laws that allow us to go after– you know, the criminal syndicates that are behind some of these activities. The issue is we’ve got to back in the administrator to actually do the job properly. Some of this stuff has come to light because it is in administration. And there is– you know, thorough audits and investigations being undertaken. And, you know, I welcome that the Victorian Government’s now, you know, increased money for the taskforce or increased the focus of the taskforce to try and deal with these issues. But you know, let’s be clear, none of us have any tolerance for this. We’re working our way through how we actually fix this and that will take some time.

    RICHARD KING: Appreciate your time this morning, Minister, and enjoy your time in the Hunter Valley I’m sure you will.

    CATHERINE KING: [Laughs] I always do. Thank you so much.

    RICHARD KING: Good on you. Thank you. Minister for Infrastructure, Transport, Regional Development and Local Government, that’s a mouthful. Catherine King on 2HD.

    MIL OSI News –

  • MIL-OSI USA: Grassley, Colleagues Urge Trump Administration to Support American Families Adopting Children from China

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley (R-Iowa), a member of the Congressional Coalition on Adoption (CCA), joined CCA co-chairs Sens. Amy Klobuchar (D-Minn.), Kevin Cramer (R-N.D.), along with Reps. Robert Aderholt (R-Ala.) and Danny Davis (D-Ill.) in a letter urging President Trump to advocate for families impacted by China’s termination of its intercountry adoption program.
    “We write to you on behalf of hundreds of children and American families who have been devastated by the People’s Republic of China’s decision to halt its intercountry adoption program. We request that you act in the best interest of these children and engage the Chinese government to finalize these pending adoption cases,” the members wrote.
    “The sudden termination of China’s adoption program in August 2024 only exacerbated our concern for these children’s well-being. Many of these children have special health care needs, and some will soon age out of care systems without the support of a permanent family.… We urge you to elevate this engagement and press the Chinese government to finalize pending adoption cases so these children may finally be united with their adoptive families in the United States,” the members continued.
    In the Senate, the letter was signed by Sens. Tammy Baldwin (D-Wis.), Marsha Blackburn (R-Tenn.), Katie Britt (R-Ala.), Maria Cantwell (D-Wash.), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La.), Susan Collins (R-Maine), Ted Cruz (R-Texas), John Curtis (R-Utah), Tammy Duckworth (D-Ill.), Joni Ernst (R-Iowa), John Fetterman (D-Penn.), Kirsten Gillibrand (D-N.Y.), John Hoeven (R-N.D.), Ron Johnson (R-Wis.), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Angus King (I-Maine), James Lankford (R-Okla.), Ben Ray Luján (D-N.M.), Cynthia Lummis (R-Wyo.), Jeff Merkley (D-Ore.), Bernie Moreno (R-Ohio), Lisa Murkowski (R-Ala.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Rand Paul (R-Ky.), Mike Rounds (R-S.D.), Adam Schiff (D-Calif.), Eric Schmitt (R-Mo.), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn), Dan Sullivan (R-Alaska), John Thune (R-S.D.), Thom Tillis (R-N.C.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Roger Wicker (R-Miss.), Ron Wyden (D-Ore.) and Todd Young (R-Ind.).
    In the House, the letter was signed by Reps. Brian Babin (R-Texas), Don Bacon (R-Neb.), Andy Biggs (R-Ariz.) Vern Buchanan (R-Fla.), Tim Burchett (R-Tenn.), Kat Cammack (R-Fla.), Mike Carey (R-Ohio), Dan Crenshaw (R-Texas), Suzan DelBene (D-Wash.), Scott DesJarlais (R-Tenn.), Julie Fedorchak (R-N.D.), Randy Feenstra (R-Iowa), Brian Fitzpatrick (R-Penn.), Charles Fleischmann (R-Tenn.), Tony Gonzales (R-Texas), Sam Graves (R-Mo.), Mark Green (R-Tenn.), H. Morgan Griffith (R-Va.), Glenn Grothman (R-Wis.), Brett Guthrie (R-Ky.), Abraham Hamadeh (R-Ariz.), Diana Harshbarger (R-Tenn.), Ashley Hinson (R-IA), Erin Houchin (R-Ind.), Julie Johnson (D-Texas), Thomas Kean (R-N.J.), Raja Krishnamoorthi (D-Ill.), Darin LaHood (R-Ill.), Julia Letlow (R-La.), Barry Loudermilk (R-Ga.), Richard McCormick (R-Ga.), Morgan McGarvey (D-Ky.), Mark Messmer (R-Ind.), Carol Miller (R-W.Va.), Ralph Norman (R-S.C.), Zachary Nunn (R-Iowa), Andrew Ogles (R-Tenn.), Bob Onder (R-Mo.), Gary Palmer (R-Ala.), Brittany Pettersen (D-Colo.), August Pfluger (R-Texas), Jamie Raskin (D-Md.), John Rutherford (R-Fla.), Hillary Scholten (D-Mich.), Keith Self (R-Texas), Jefferson Shreve (Ind.), Adam Smith (D-Wash.), Lloyd Smucker (R-Penn.), Eric Sorensen (D-Ill.), Greg Stanton (D-Ariz.), Pete Stauber (R-Minn.), Haley Stevens (D-Wis.), Eric Swalwell (D-Calif.), William Timmons (R-S.C.), Jill Tokuda (D-Hawaii), Paul Tonko (D-N.Y.) and Daniel Webster (R-Fla.).
    Text of the letter to President Trump follows:
    Dear President Trump:
    We write to you on behalf of hundreds of children and American families who have been devastated by the People’s Republic of China’s decision to halt its intercountry adoption program. We request that you act in the best interest of these children and engage the Chinese government to finalize these pending adoption cases.
    As members of the Congressional Coalition on Adoption and other Members of Congress who share these concerns, the safety of adopted children and hundreds of would-be adoptees is our top priority. The sudden termination of China’s adoption program in August 2024 only exacerbated our concern for these children’s well-being. Many of these children have special health care needs, and some will soon age out of care systems without the support of a permanent family. It is particularly critical that these children have access to the care and support that they need — which hundreds of American families approved for adoption are willing to provide.
    We understand that the State Department is working on behalf of these families and seeking clarity on the Chinese government’s decision. We urge you to elevate this engagement and press the Chinese government to finalize pending adoption cases so these children may finally be united with their adoptive families in the United States.
    Thank you for your attention to this important matter. We are prepared to work closely with you to ensure these children are welcomed into safe and stable homes.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

    Source: US State of California

    Note: View the forfeiture complaint.

    The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

    Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

    Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

    In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

    E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

    The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

    The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

    The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

    The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

    The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

    As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

    The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

    Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

    A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

    The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

    Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

    The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta Issues Legal Alert Reminding Local Jurisdictions to Streamline Permitting for Electric Vehicle Charging Stations

    Source: US State of California

    Tuesday, March 18, 2025

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

    OAKLAND – California Attorney General Rob Bonta today issued a legal alert reminding local California jurisdictions (localities) of the requirements under State law to streamline and expedite the permitting of electric vehicle (EV) charging stations. In 2015, the California Legislature adopted Assembly Bill (AB) 1236 (Chiu) (codified at Government Code section 65850.7) followed by AB 970 (McCarty) (codified at Government Code section 65850.71) in 2021, which created a state-mandated local program to streamline permits for EV charging stations. With California’s goal of transitioning the state to 100% zero-emission vehicle sales by 2035, widespread deployment of EV charging stations is key to achieving this goal and ensuring that EV charging infrastructure is available to meet growing demand. However, noncompliance with AB 1236 and AB 970 hinders California’s transition to electrification. In today’s legal alert, Attorney General Bonta highlights common compliance issues occurring statewide, as well as resources for localities to address these issues.

    “The global fight against climate change requires bold action and system solutions. Deploying electric vehicle charging infrastructure is a step in the right direction, empowering communities to transition to clean energy and reduce air pollution and greenhouse gas emissions, and in California, we have state laws that do just that,” said Attorney General Bonta. “With today’s alert, we are reminding localities that they must comply with state law in streamlining the permitting of this infrastructure, as well as removing unreasonable barriers that prevent deployment statewide, which will improve air quality and mitigate climate impacts for generations to come.”  

    Requirements Under EV Charging Streamlining Laws

    Below are key legal requirements covered by the legal alert. 

    • Localities Must Approve EV Charging Stations Ministerially. Localities must approve an EV charging station permit application unless the locality finds, based on substantial evidence, that the charging station would have a “specific, adverse impact upon public health or safety.”
    • Streamlining Laws Supersede Local Zoning Codes and Cover All Installation Types. Localities must ministerially approve EV charging permit applications regardless of siting location and local zoning regulations, and regardless of the type or size of the proposed installation.
    • Accelerated Permitting Timelines. Applications are deemed complete either 5 or 10 business days after submission depending on the number of EV charging stations proposed. Upon completion, localities have 20 or 40 business days to approve the complete permit application, depending on the number of chargers.
    • Local Ordinance Requirements. Localities must adopt ordinances that create an expedited and streamlined permitting process for EV charging stations.

    RESOURCES

    For localities seeking additional guidance or support, resources include:

    • California Building Officials, “AB 1236 Tool Kit: Electric Vehicle Charging Stations Ordinances and Staff Report Templates – Large Jurisdictions.”
    • Governor’s Office of Business and Economic Development (GO-Biz), “CA Electric Vehicle Charging Station Permit Streamlining Map.”
    • GO-Biz, “Plug-In Vehicle Readiness.”
    • GO-Biz, “Permitting Electric Vehicle Charging Stations Scorecard.”
    • GO-Biz, “Electric Vehicle Charging Station Permitting Guidebook” (2d Ed.) (Jan. 2023).
    • UC Berkeley Center for Law, Energy, & the Environment, “Equitable EV Action Plan Framework” (Dec. 2024).
    • UC Berkeley Center for Law, Energy, & the Environment, “EV Equity Roadmap.”

    A copy of the alert is available here.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: Padilla, Schiff Condemn Trump Administration’s Gutting of Education Department

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)
    Senators to Education Secretary: “We will not stand by as you attempt to turn back the clock on education in this country”
    WASHINGTON, D.C. — As President Trump and Elon Musk attack public education in America by closing offices and laying off 1,300 workers at the Department of Education, Senators Alex Padilla and Adam Schiff (both D-Calif.) joined 36 Democratic colleagues in expressing outrage at the Administration’s reckless and illegal firing of half of the workforce at the U.S. Department of Education, which will cripple America’s education system and impact students in California and across the country.
    California’s public education system, supported by the Department of Education, is the largest in the country. There are about 10,000 public schools in California serving over 5.8 million students. If the Department is dismantled, the nearly $8 billion in federal funding that California receives annually to support low-income students, students with disabilities, and more could be at risk. California also has the most extensive higher education system in the nation, including the largest number of Pell Grant recipients who rely on Education Department staff to help them attend college. Abolishing the Department of Education would have devastating impacts on California schools, students, faculty, communities, and the economy.
    “At a time of massive income and wealth inequality, when 60 percent of people live paycheck to paycheck, millions of Americans cannot afford higher education, and 40 percent of our nation’s 4th graders and 33 percent of 8th graders read below basic proficiency, it is a national disgrace that the Trump Administration is attempting to illegally abolish the Department of Education and thus, undermine a high-quality education for our students,” wrote the Senators.
    The Senators noted that these layoffs and closures will have devastating effects on the nation’s students, including by limiting the Department’s ability to guarantee that federal funding reaches communities that rely on it, ensure students can access federal financial aid, and uphold students’ civil rights. Not even 24 hours after the staff reductions were announced, the Free Application for Federal Student Aid (FAFSA) experienced a glitch that prevented students and families from accessing the application. Education Department workers responsible for fixing it had reportedly been fired.
    “[The layoffs] would also mean decreased enforcement of rights for children with disabilities and fewer resources for students from low-income backgrounds and children with disabilities, like the 26 million students from low-income backgrounds and over 100,000 public schools in every community across this country that rely on Title I funding; the 7.5 million students with disabilities who benefit under the Individuals with Disabilities Education Act, and the 7 million students who receive Pell grants to help access higher education,” continued the Senators.
    “We will not stand by as you attempt to turn back the clock on education in this country through gutting the Department of Education,” concluded the Senators. “Our nation’s public schools, colleges, and universities are preparing the next generation of America’s leaders—we must take steps to strengthen education in this country, not take a wrecking ball to the agency that exists to do so.”
    California, 19 other states, and Washington, D.C. have sued the Trump Administration for these reckless cuts and are pushing a federal judge to reinstate the 1,300 fired Education Department workers.
    The letter to Secretary of Education Linda McMahon was led by Senator Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions. In addition to Padilla, Schiff, and Sanders, the letter was also signed by Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Kirsten Gillibrand (D-N.Y.), Ruben Gallego (D-Ariz.), Mazie Hirono (D-Hawaii), Tim Kaine (D-Va.), Andy Kim (D-N.J.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Edward J. Markey (D-Mass.), Jeff Merkley (D-Ore.), Chris Murphy (D-Conn.), Patty Murray (D-Wash.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Brian Schatz (D-Hawaii), Minority Leader Chuck Schumer (D-N.Y.), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Elizabeth Warren (D-Mass.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.).
    Last month, Senator Padilla blasted President Trump’s nomination of Linda McMahon to lead the Department of Education, underscoring the enormous threat the Trump Administration poses to the education of millions of students in California and across the country. Senator Padilla joined Senator Warren and his Senate colleagues in launching a probe into reports that Elon Musk’s Department of Government Efficiency (DOGE) infiltrated the Department of Education and gained access to federal student loan data, which includes millions of borrowers’ personal information. The Senators sent a follow-up letter raising concerns about the Department of Education’s “woefully inadequate,” “misleading” response to their inquiry.
    Full text of the letter is available here and below:
    Dear Secretary McMahon:
    We write to express our outrage that you, President Trump, and unelected billionaire Elon Musk are taking steps to abolish the Department of Education (“the Department”) and eliminate educational opportunities for millions of students across the country, something that 61 percent of Americans oppose. This most recently includes a 50 percent cut to the workforce, resulting in the termination of over 1,300 workers at the Department of Education, as well as the abrupt, last minute closure of all Department of Education buildings beginning at 6:00 PM on the same day that these terminations were announced.
    At a time of massive income and wealth inequality, when 60 percent of people live paycheck to paycheck, millions of Americans cannot afford higher education, and 40 percent of our nation’s 4th graders and 33 percent of 8th graders read below basic proficiency,3 it is a national disgrace that the Trump Administration is attempting to illegally abolish the Department of Education and thus, undermine a high-quality education for our students.
    As Secretary of Education, you are the foremost public servant responsible for carrying out the Department of Education’s mission to promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access. Despite that responsibility, your first act as Secretary was announcing it was your “final mission” to dismantle the Department of Education, fire the public servants who keep it running, and terminate opportunities for students in public schools, colleges, and universities across the country.
    The false claims of financial savings by dismantling the Department of Education so that billionaires can receive huge tax breaks is bad public policy and morally reprehensible. The billionaires that are in charge of our federal government right now will not be harmed by these egregious attacks: wealthy families sending their children to elite, private schools will still be able to get a quality education even if every public school disappears in this country. But for working-class families, high-quality public education is an opportunity they rely on for their children to have a path to do well in life.
    Defunding federal support for public education would result in either higher property taxes or decreased funding for public schools, including in rural areas. It would also mean decreased enforcement of rights for children with disabilities and fewer resources for students from low-income backgrounds and children with disabilities, like the 26 million students from low-income backgrounds and over 100,000 public schools in every community across this country that rely on Title I funding; the 7.5 million students with disabilities who benefit under the Individuals with Disabilities Education Act, and the 7 million students who receive Pell grants to help access higher education.
    It is undeniable that terminating 50 percent of the Department of Education’s workers will have harmful effects on public education in this country. The Department of Education already has the smallest staff of the 15 Cabinet agencies despite having the third largest discretionary budget, behind only the Departments of Defense and Health and Human Services. These reductions will have devastating impacts on our nation’s students and we are deeply concerned that without staff, the Department will be unable to fulfill critical functions, such as ensuring students can access federal financial aid, upholding students’ civil rights, and guaranteeing that federal funding reaches communities promptly and is well-spent. Not even 24 hours after the staff reductions were announced, the Free Application for Federal Financial Aid (FAFSA) experienced a glitch that prevented students and families from accessing the application, but the staff normally responsible for fixing those errors had reportedly been cut. The Department has also reportedly shuttered several regional offices responsible for investigating potential violations of students’ civil rights in local schools. We are deeply alarmed that cases will go uninvestigated and that students will be left in unsafe learning environments as a result.
    The Trump Administration also says it wants to ‘return education back to the states.’ Let us be very clear—public education is already run by states and local school boards. While just 11 percent of public education is federally funded, the Department of Education has a necessary and irreplaceable responsibility to implement federal laws that ensure equal opportunity for all children in this country. These laws guarantee fundamental protections, such as ensuring that children with disabilities receive a free appropriate public education in the least restrictive environment, that students from low-income backgrounds and students of color will not be disproportionately taught by less experienced and qualified teachers, and that parents will receive information about their child’s academic achievement.
    Without the Department of Education, there is no guarantee that states would uphold students’ civil and educational rights. Let us not forget that it was federal troops who protected the “Little Rock Nine” from a violent mob of segregationists when they integrated Central High School in the wake of the Brown v. Board U.S. Supreme Court decision. Not only was the state not going to provide this protection, but it was then-Arkansas Governor Orval Faubus who ordered the state’s National Guard to bar Black students from entering the school. Even today, the Department of Education’s Office for Civil Rights regularly investigates and resolves complaints of student discrimination related to students’ race, color, national origin, sex, age, or disability status.
    We will not stand by as you attempt to turn back the clock on education in this country through gutting the Department of Education. Our nation’s public schools, colleges, and universities are preparing the next generation of America’s leaders—we must take steps to strengthen education in this country, not take a wrecking ball to the agency that exists to do so.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Europe: Answer to a written question – Explosive issue of housing – E-001940/2024(ASW)

    Source: European Parliament

    Access to social housing or housing assistance for those in need is a principle enshrined in the European Pillar of Social Rights[1]. To achieve structural improvements and to support Member States in addressing barriers for affordable housing, the Commission will launch a European Affordable Housing Plan.

    It will offer technical assistance to cities and Member States, foster investments and strengthen skills in the housing sector. A European strategy for housing construction and a pan-European investment platform for affordable and sustainable housing will be part of the Plan.

    ‘My Home II’, a public investment measure supporting individuals and families with up to a certain income to finance the purchase of an accommodation, is included in the Greek recovery and resilience plan (RRP)[2].

    It provides Recovery and Resilience Facility (RRF) loans (EUR 1 billion) at beneficial interest rates via the intermediation of commercial banks to private households.

    It is accompanied by the RRF-financed ‘Upgrade my home’ programme (EUR 300 million) for increasing the energy efficiency of existing accommodations. In addition, the Greek RRP contains the investment measure ‘Energy renovation on residential buildings’ or ‘Exoikonomo’ which aims to support 105 000 renovations, with primary energy savings of at least 30%.

    It also foresees actions targeting households eligible for the ‘social residential tariff’ with a higher support level, and other actions benefitting at least 50 000 vulnerable households. The Commission has no evidence suggesting that these RRF investments have an impact on house prices or prices in the construction sector.

    As to auctioning of social housing, the re-establishment of the Workers’ Housing Organisation and other national actions, the primary responsibility for housing policies and investments remains with Member States.

    • [1] https://employment-social-affairs.ec.europa.eu/policies-and-activities/european-pillar-social-rights-building-fairer-and-more-inclusive-european-union_en
    • [2] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility/country-pages/greeces-recovery-and-resilience-plan_en
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EU Fact Sheets – Common transport policy: overview – 24-07-2024

    Source: European Parliament

    Transport policy has been one of the EU’s common policies for more than 30 years. Alongside the opening-up of transport markets and the creation of the Trans-European Transport Network, the ‘sustainable mobility’ model will take on even greater importance between now and 2020 – particularly in view of the constant rise in greenhouse gas emissions from the transport sector, which threatens to jeopardise the European Union’s efforts to achieve its climate goals. toto

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – Test 1 Vanessa – 09-10-2024

    Source: European Parliament

    In July 2023, the European Commission tabled a package of three proposals for the greening of freight transport. Among them is a proposal for a single methodology for calculating greenhouse gas (GHG) emissions from transport services, referred to as CountEmissionsEU. The initiative covers both freight and passenger transport. It seeks to ensure that GHG emissions data provided regarding transport services are reliable and accurate, to allow fair comparison between transport services. It establishes a methodological framework but does not govern where it has to be used. Nonetheless, if an organisation decides to calculate and disclose information on GHG emissions from transport services it needs to use the methodology provided. To avoid extra red tape for small and medium-sized enterprises, the proposal exempts these companies from mandatory verification of adherence to the rules. In the European Parliament, the file has been dealt with through the joint committee procedure, involving the Committees on Transport and Tourism and on the Environment, Public Health and Food Safety. The committees adopted their joint report on 4 March 2024. Parliament voted on its first-reading position during its April I plenary session. The new Parliament will now decide whether to enter into trilogue negotiations with the Council.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Threat of illegal interference by the Commission in the 2025 Polish presidential elections – P-000969/2025

    Source: European Parliament

    Priority question for written answer  P-000969/2025/rev.1
    to the Commission
    Rule 144
    Maciej Wąsik (ECR)

    On 5 March 2025, in an interview with Deutsche Welle, Commission Vice-President Henna Virkkunen announced a decision to organise a ‘round table’ assessing the integrity of the Polish election process and the presidential elections[1]. This news was met with outrage among the Polish public.

    Electoral matters are directly regulated by the Polish constitution and are the exclusive responsibility of the Member State. Organising a ‘round table’ on this issue constitutes political interference that could undermine the election process or even the results themselves. The European Union has already contested the results of the democratic presidential elections that took place in Romania. Polish citizens are categorically opposed to outside interference in Polish elections.

    As a Polish MEP, I expect this interference in Polish elections to stop immediately.

    Polish election matters are for Poland and Poles alone!

    In light of the above:

    • 1.Who suggested this idea and on what legal grounds was the decision taken?
    • 2.Who requested this decision and who exactly was consulted?
    • 3.Who does the Commission want to talk to and what conclusions does it expect to draw?

    Submitted: 6.3.2025

    • [1] https://www.dw.com/pl/okr%C4%85g%C5%82y-st%C3%B3%C5%82-ws-wybor%C3%B3w-w-polsce-wiceszefowa-ke-zapowiada/a-71834431, (accessed: 6.3.2025)
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Croatia’s investment momentum remains strong in 2024, but competitiveness challenges persist

    Source: European Investment Bank

    • Croatia’s economy grew steadily in 2024, supported by EU funds, the euro adoption, and financial instruments like EFSI and InvestEU
    • Key barriers: 84% of Croatian exporters face differing EU regulations, digital adoption lags behind (62% vs. EU’s 74%), and energy costs remain high.
    • A conference jointly organised with the Croatian National Bank explored the EIB Investment Survey 2024 for Croatia and the EIB Investment Report 2024/2025, highlighting solutions such as market integration, green investments, and mobilizing private co-investors.

    The Croatian economy kept the strong dynamic during 2024 after the rebound in 2022-2023. This was possible thanks to collective efforts by European Union Member States, the Recovery and Resilience Facility, EU funds and financial instruments like EFSI and InvestEU. Moreover, the euro adoption in Croatia represented a strategic shift and new business opportunities, driving the good investment momentum.

    Nevertheless, in the new geopolitical context, in order to increase competitiveness, the urgency of further action is enhanced both for the EU as a whole and for Croatia. According to the new EIB Investment Report 2024/2025, the solution toolkit comprises: (1) unlocking business opportunities via market integration and simplification (2) leveraging European strengths such as green leadership and an inclusive social model (3) maximising the impact of public-sector intervention through targeted support, EU coordination and focus on incentives that mobilise private co-investors.

    According to the latest EIBIS for Croatia, the business environment remains a concern. The availability of skilled staff, uncertainty about the future and energy costs remain the top three investment barriers while more than eight in 10 Croatian exporters (84%) report having to comply with different standards and consumer-protection rules across EU countries, above the EU average (60%). Moreover, there is a continued need of transformative investments as adoption of advanced digital technologies in Croatia is below EU peers (62% versus 74% respectively). Moreover, although most of Croatian firms (87%) have taken measures to reduce greenhouse gas emissions, in line with EU firms, there is still more to do for all EU countries. Croatian firms are also less likely than EU firms to have invested in sustainable transport options and energy efficiency.

    At an event in Zagreb organised jointly with the Croatian National Bank (CNB), the European Investment Bank (EIB) today discussed the  EIB Investment Survey 2024 for Croatia  and key policy messages of the EIB Investment Report 2024/2025: Innovation, integration and simplification in Europe, focusing on the new insights on Croatian companies’ challenges and opportunities.

    Opening remarks were made by EIB Vice-President Teresa Czerwińska, Croatian National Bank Governor Boris Vujčić and Deputy Prime Minister and Minister of Finance Marko Primorac. A presentation by Debora Revoltella, the EIB’s chief economist, assessed the state of the EU and Croatian economies through the EIBIS lens to understand their current performance, business prospects, concerns and enablers for a coordinated policy response.

    Croatian National Bank Governor Boris Vujčić said: “Croatia and the whole of Europe have been facing major challenges in preserving competitiveness in an unstable global environment. In order for Croatian companies to be able to leverage growth opportunities, it is necessary to provide them with access to venture capital and alternative financing sources as well as to strengthen links between European capital markets. This conference provides us with an opportunity to jointly discuss present obstacles and new solutions for the financing of growth and innovations in order to ensure that the Croatian economy remains competitive in a rapidly changing world.”

    EIB Vice-President Teresa Czerwińska said: “The EIB Investment Survey, conducted across all EU member states, provides a powerful policy tool to better understand the challenges and barriers, helping to create our strategy and to respond to the identified market gaps with targeted policy response. To address the gap of scale-up financing, the EIB Group provides a diversified type of financing for corporates: loans, guarantees, venture debt and private equity. For Croatia in particular, we reinforced during 2024 the innovation ecosystem with investments in equity funds through the Croatian Venture Capital Initiative 2 (CVCi 2) and the Croatian Growth Investment Programme II (CROGIP II), benefiting hundreds of startups and high-growth enterprises.”

    “In the context of mounting pressure from international competition, Europe could reinforce its position as a global technology leader by focusing on three areas: market integration, simplification and large-scale investment in innovation,” said EIB Chief Economist Debora Revoltella “For large-scale investments for innovation and transformation, European firms need market scale to remain globally competitive. Larger and deeper capital markets are instrumental to mobilising higher-risk finance for innovation and the green transformation.”

    The panel discussion in the second session of the conference, composed of representatives of the EIB Group and players in the local financial market such as the Zagreb Stock Exchange, the Croatian Financial Services Supervisory Agency (HANFA) and co-founders of innovative startups, discussed the availability of growth finance for Croatian firms, the role of the stock market, private equity funds and financial market integration and depth. Both the Croatian and the EU financial systems are still ill-suited to properly finance the green and digital transformations and the high-growth innovative segment, especially on the scale-up face. The European financial system depends heavily on banking and this focus continues to constrain specific investment as firms do not have many alternative funding sources to support risky investments, especially in the early stage of growth. Nevertheless, recent initiatives for alternative financing of Croatian firms are encouraging. Moreover, reducing the fragmentation of EU capital markets and simplifying regulation may offer a better and more productive use of Europe’s substantial savings.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB Group’s New Financing in Croatia Reaches Record €1.24 Billion in 2024

    Source: European Investment Bank

    • EIB Group financing in Croatia rose to €1.24 billion last year from €464 million in 2023.
    • Focus on Croatian railways, cities and businesses in record year for commitments.
    • Climate action in Croatia received €721 million in support last year.

    The European Investment Bank (EIB) Group’s new financing in Croatia has reached a record level of €1.24 billion last year, with major support aimed at greening transport, cities and businesses. The total financing for 2024 included €937 million from the EIB and €303,2 million from the European Investment Fund (EIF), which focuses on small and medium-sized enterprises (SMEs) as well as Mid-Caps in Europe.

    EIB Group financing in Croatia last year amounted to 1.4% of its gross domestic product (GDP), whereof a third dedicated to the support of  Croatian SMEs and Midcaps throughout the intermediation of the Croatian banking system. The level of support rose 167% from €464 million in 2023.

    The largest EIB loan signed last year was a €400 million financing to the Croatian government to upgrade and expand rail infrastructure and services throughout the country – part of a €900 million agreement that marks the EIB’s largest-ever financing operation in Croatia. Other key initiatives included EIB loans of €207 million to the city of Zagreb to promote renewable energy, affordable housing and public transport, €200 million to the Croatian Bank for Reconstruction and Development, or HBOR, to expand green and other financing for a range of companies and €30 million financing for the increase of renewable energy production (Kiepach/ Go Green project) implemented by HEP.

    “Our record investments in Croatia in 2024 are a testament to our unwavering commitment to the country’s sustainable growth,” said EIB Vice-President Teresa Czerwińska. “We are deepening our engagement, unlocking new financing for businesses, modernising critical infrastructure and promoting innovation. Working closely with national and local authorities as well as with private-sector partners, we are helping to build a greener, more competitive and resilient Croatia.”

    The latest annual results bring total EIB Group financing in Croatia over the past five years to almost €3.1 billion. The annual average in the country since 2020 has been €613 million.

    Green gains, social support and firm financing

    Last year, projects to advance climate action and environmental sustainability in Croatia received EIB Group support totalling €721 million.

    The €400 million loan to the Croatian government in 2024 is meant to improve rail travel for 22 million passengers annually, accelerate regional development, encourage a shift away from road transport and reduce emissions that cause climate change.

    The €207 million loan to Zagreb reflects increased EIB Group support for Croatian cities to promote cleaner energy, urban mobility and essential cultural and social infrastructure such as schools, kindergartens and affordable housing. Such financing also helps cities absorb faster the grants from the European Union.

    In response to a rising need for affordable homes, the EIB last year also agreed to provide advisory services to five major Croatian cities: Zagreb, Split, Rijeka, Osijek and Varaždin. The goal is to help expand social housing and promote inclusive urban development.

    In the area of business financing, the €200 million loan to HBOR is part of a €500 million approved commitment to help Croatian companies lower their carbon footprint and become more sustainable. The EIB is also advising HBOR and other key financial institutions in Croatia on enhancing their green-funding capacity.

    The EIF teamed up with the EIB to offer €169 million to Privredna Banka Zagreb and €160 million to Erste Croatia to expand financing for businesses. The EIF further reinforced Croatia’s innovation ecosystem with investments in equity funds through the Croatian Venture Capital Initiative 2 (CVCi 2)  and the Croatian Growth Investment Programme II (CROGIP II), benefiting hundreds of start-ups and high-growth enterprises. EIF’s equity fund investments in the country also included one of its first commitments to a CEE-based infrastructure fund and, additionally, €40 million was pledged to the Vesna Deep Tech Venture Fund, supporting Croatia’s first technology transfer fund that also represents a cross-border initiative with Slovenia, fostering innovation and collaboration between academia and businesses. Altogether, the EIF experienced a record year in Croatia in terms of investments in funds managed by local teams, which now cover a broad range of strategies, from early-stage venture capital, technology transfer, growth investments and social impact to investments in infrastructure projects.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Security: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

    Source: United States Attorneys General

    Note: View the forfeiture complaint.

    The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

    Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

    Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

    In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

    E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

    The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

    The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

    The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

    The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

    The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

    As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

    The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

    Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

    A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

    The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

    Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

    The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

    MIL Security OSI –

  • MIL-OSI Security: High-Ranking Member of “Black Rain” Drug Crew Sentenced to 30 Years in Prison for His Involvement in Three Cold Case Murders

    Source: Office of United States Attorneys

    Earlier today, in federal court in Brooklyn, Jerome Jones, also known as “Sha,” was sentenced by United States District Judge Nicholas G. Garaufis to 30 years’ imprisonment for his role in the 1991 murder of Oscar Flow and the 1992 murders of Robert Arroyo and Dorothy Taylor—all related to Jones’ narcotics trafficking operation.  Jones pleaded guilty in August 2024. 

    John J. Durham, United States Attorney for the Eastern District of New York, Leslie R. Backschies, Acting Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI) and Jessica S. Tisch, Commissioner, New York City Police Department (NYPD), announced the sentence.

    “Jones now faces decades in prison for his role in a violent drug organization and for several vicious killings committed within less than one year.  His sentence is a reminder that no matter how much time has passed, my Office and our law enforcement partners will not rest until murderers like the defendant are held accountable and justice is served for their victims,” stated United States Attorney Durham.   

    Mr. Durham expressed his thanks to the FBI and the NYPD for their outstanding investigative work and the Queens District Attorney’s Office for its assistance.

    Jones was a high-ranking member of “Black Rain,” a Queen-based drug trafficking organization that sold narcotics at several locations on Rockaway Boulevard in the late 1980s and early 1990s.  The organization was responsible for poisoning the community with massive quantities of various drugs: heroin sold as “Black Rain,” cocaine sold as “White Lightning,” and crack sold as “Thunder.”  In the early 1990s, a single Black Rain drug spot brought in more than $10,000 per day in drug sales. To protect its profitable operation and to punish those who crossed its leaders, Black Rain members committed multiple acts of violence, including murders.

    In December 1991, Jones murdered Oscar Flow in Springfield Gardens, Queens, after he learned that Flow had stolen from one of Black Rain’s drug spots and that the victim’s sneaker matched a muddy footprint on the roof of the location that had been robbed.  Jones and a co-conspirator shot Flow multiple times.  Jones later boasted to an underling that Flow got “six in the head” for stealing from Black Rain.

    In September 1992, Robert Arroyo was murdered in the vicinity of 128th Street and Rockaway Boulevard in South Ozone Park, Queens, where Jones managed a drug spot.  Jones recruited and paid two co-conspirators to kill Arroyo, who Jones suspected was a drug trafficking competitor and a police informant.  In their first attempt, the recruits mistakenly shot and seriously wounded another man they incorrectly believed to be Arroyo.  That victim survived.  The hit team finally located Arroyo on a crowded street and shot him repeatedly, killing him.

    In November 1992, Jones again paid a co-conspirator to murder Dorothy Taylor, who the defendant blamed for having a Black Rain drug spot shut down by law enforcement when she failed to pay the rent and city marshals padlocked the apartment.  Taylor was shot to the death in the driveway of her home by the co-conspirator.

    The government’s case is being handled by the Office’s Organized Crime and Gangs Section.  Assistant United States Attorneys Tanya Hajjar, Emily J. Dean, Lindsey R. Oken, and Raffaela S. Belizaire are in charge of the prosecution with the assistance of Paralegal Specialist Theodore Rader.

    The Defendant:

    JEROME JONES (also known as “Sha”)
    Age: 60
    West Virginia

    E.D.N.Y. Docket No. 19-CR-54 (NGG)

    MIL Security OSI –

  • MIL-OSI Australia: No interest loans locked in to help ease cost of living

    Source: Ministers for Social Services

    The Albanese Labor Government is locking in no interest loans for the next five years with an additional $48.7 million to support Australians with the cost of living.

    The funding boost to the No Interest Loans program (NILs) will allow Good Shepherd Australia New Zealand in partnership with National Australia Bank (NAB) to continue providing no-fee, no-interest loans for essentials to eligible people.

    More than one million Australians have already benefited from NILs.

    Good Shepherd administers the scheme, with NAB providing the loan capital. The loans can be used for urgent, critical household purchases and for vehicles for transport to work and essential day-to-day use.

    Minister for Social Services, Amanda Rishworth, said the Government’s investment will help ease cost of living pressures for many Australians who need support.

    “We’re proud to support Good Shepherd and NAB to deliver no-interest loans as an alternative to other high risk, high interest products such as Buy Now Pay Later products and payday loans,” Minister Rishworth said.

    “NILs provides support that is usually unavailable to low-income earners through mainstream providers, meaning tens of thousands of vulnerable Australians can purchase the essential things they need.

    “These loans also really help people achieve independence and financial recovery in escaping family, domestic, and sexual violence. And having access to a vehicle gives many Australians the ability and independence to work, study, provide care or seek medical care.”

    The NILs program is a great example of successful partnerships with industry. The Government has provided funding to Good Shepherd for the administration of NILs since 2009. Around 25,000 general NILs loans are provided each year while nearly 10,000 NILs for Vehicles loans have been provided since this program started in 2021.

    Good Shepherd Australia New Zealand CEO Stella Avramopoulos said: “Through powerful partnerships and expanded reach, including into the Northern Territory and First Nations communities, NILs is breaking down barriers, empowering women, sole parents and families, especially those escaping domestic violence, to achieve lasting financial independence and wellbeing.

    “With 25 per cent of recipients being sole parents and 18 per cent survivors of family and domestic violence, this support isn’t just about financial assistance — it’s about providing dignity, stability, and a pathway to a better future.

    “This work is only possible because of the strength of collaboration between not-for-profits, corporates such NAB, and government. Together, we’re creating meaningful, lasting change — removing credit barriers, preventing predatory lending, and ensuring vulnerable Australians, particularly those in regional and remote communities, have access to the resources they need to recover and rebuild.”
     
    NAB Executive Sustainability Jessica Forrest said: “NILs is NAB’s longest-standing community partnership, with more than $560 million in zero-interest capital provided over 21 years. Together, we are helping more Australians access credit for life’s essentials.

    “NAB is proud to provide the loan capital that supports the Good Shepherd NILs program, and pleased to keep working with Government on backing this longstanding program. This funding will ensure more people continue to get the support they need.

    “Too often, people in financial stress turn to high-interest payday loans. No interest loans offer a safer alternative, helping Australians borrow money without having to pay any fees or interest.”

    NILs assists vulnerable Australians to access affordable loans up to $3,000 for household goods, such as fridges, washing machines and furniture, as well as education and medical expenses.

    NILs for Vehicles loans up to $5,000 can be used to purchase cars, mobility scooters and related costs such as registration or maintenance expenses.

    Individuals can apply for NILs at over 600 locations across Australia. They are available to individuals and families who can service the loan and who:

    • earn less than $70,000 gross annually as a single person or $100,000 gross as a couple or person with dependants, or
    • have experienced family or domestic violence in the last 10 years, or
    • have a Health Care Card or Pension Card.

    More information about NILs is available on the Good Shepherd Australia New Zealand website.

    MIL OSI News –

  • MIL-OSI New Zealand: Stand Up for Palestine: A Call to Action Against Israels Treacherous Attack

    Source: Te Pati Maori

    At 2.30am local time, Israel launched a treacherous attack on Gaza killing more than 300 defenceless civilians while they slept.

    Many of them were children.

    This followed a more than 2 week-long blockade by Israel on the entry of all goods and aid into Gaza.

    Israel deliberately targeted densely populated areas, schools, homes, and shelters for displaced people in the middle of a ceasefire.

    Donald Trump, who claims credit for the ceasefire, was consulted ahead of this attack. Neither Israel nor the United States have provided any justification for their actions.

    “This was a clearly premeditated act of terrorism on people who are trying to piece their shattered lives back together during ceasefire,” said Te Pāti Māori Co-Leader and Human Rights spokesperson Debbie Ngarewa-Packer.

    “Israel had no intention of honouring ceasefire. If they were capable of honour, we would not be in this situation to begin with.

    “A genocide is being live-streamed, and we are allowing it to happen. It is unforgivable.

    “History will judge all of us on where we stood today,” Ngarewa-Packer said.  

    “Donald Trump has openly called for the ethnic cleansing and colonisation of Gaza by the United States, and our spineless Prime Minister backs him,” said Te Pāti Māori Co-Leader and Foreign Affairs spokesperson, Rawiri Waititi.

    “These people do not care, and they do not listen.

    “If they will not hear us, we need to make them feel us,” Waititi said.

    We are once again calling on te iwi Māori to stand up for Palestine.

    Hit the streets and join in the global call for action.

    Educate your whānau on who to boycott and who to support. Do not give one more dollar or click to Zionism.

    We must ramp up our efforts. The time for asking is over.

    Free Palestine.

    MIL OSI New Zealand News –

  • MIL-OSI Canada: New call for proposals to invest in skilled trades apprenticeships

    Source: Government of Canada News (2)

    March 18, 2025                    Gatineau, Quebec             Employment and Social Development Canada

    Skilled trades jobs are essential to ensure our homes, businesses and public spaces are safe, functional and well maintained. The Government of Canada is investing in apprenticeship training to grow a larger, certified, diverse and inclusive trades workforce.

    That is why the Minister of Jobs and Families, Steven MacKinnon, today announced that the Canadian Apprenticeship Strategy’s Investments in the Training Equipment stream will open for proposals on March 19, for Canadian organizations to submit applications.

    Through funded projects, the Government of Canada will be supporting the purchase of modern, up-to-date training equipment and materials that meet industry standards, and will help improve the quality of training for apprenticeships in Red Seal trades.  Eligible organizations include unions representing Red Seal trades workers, organizations managing their own training funds, and training providers that provide technical training to apprentices as part of a recognized apprenticeship program or a Red Seal trade.

    Organizations interested in applying can submit their applications electronically on the Grants and Contributions Online Services (GCOS) portal starting on March 19. Creating a GCOS account is a one-time process that allows organizations to apply for various funding opportunities with Employment and Social Development Canada in a secure web environment.

    MIL OSI Canada News –

  • MIL-OSI Europe: Answer to a written question – EU funds and plans for housing – E-000038/2025(ASW)

    Source: European Parliament

    The Commission shares the Honourable Member’s concerns about the housing situation in the EU. To tackle the housing crisis, the Commission has appointed for a Commissioner for Energy and Housing.

    It has also established a Task Force for Housing that will support him coordinate the different strands of work across the Commission and put forward the first-ever European Affordable Housing Plan to address structural drivers of the housing crisis and to help unlock the public and private investment needed.

    The Commission will work closely with all relevant stakeholders, such as the European Investment Bank, national promotional banks and international financial institutions on this matter[1].

    In addition, the Commission is examining how state aid rules for housing could be revised, notably for energy efficiency and social housing .

    To assist Member States, the Commission has published a toolkit[2] that provides an overview of available EU funding[3] opportunities in housing.

    These funds and programmes have different management modes: i) direct management by the Commission; ii) shared management between the Commission and the Member State; iii) indirect management by partner organisations or other authorities inside or outside the EU.

    The Social Climate Fund will also be soon rolled-out[4], which will notably help with renovations and access to affordable and energy-efficient housing.

    The Commission is also working on a proposal to inject liquidity into the market by allowing Member States to double the planned cohesion policy investments in affordable housing.

    The strategic choice of priorities on the use of the available cohesion policy funding (including reallocation into affordable housing) will depend on their specific needs.

    • [1] As a first step, the Commission and EIB group has announced the foundations for a new pan-European investment platform for affordable and sustainable housing on 6 March 2025
      https://ec.europa.eu/commission/presscorner/detail/en/ip_25_671
    • [2] Social Housing and beyond. https://european-social-fund-plus.ec.europa.eu/en/news/commission-launches-toolkit-support-social-housing-member-states
    • [3] The Recovery and Resilience Facility; the European Regional Development Fund; the European Social Fund Plus; the InvestEU; the Horizon Europe; the Technical Support Instrument; the Single Market Programme; the Asylum, Migration and Integration Fund; the Social Climate Fund (see the Commission toolkit for further details for each programme). In addition, the Cohesion Fund and the Just Transition Fund also support investments in the energy efficiency of housing stock. Details are available in the data story ‘how cohesion policy supports housing’ (Cohesion open data platform): https://cohesiondata.ec.europa.eu/stories/s/2021-2027-cohesion-policy-support-to-housing/4dey-9iax
    • [4] The Member States’ plans to be sent to the Commission by June 2025; the Commission will assess the plans and disburse payments to the Member States only if the milestones and targets set in the plans are achieved.
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Evaluation of the EU’s Flight Emissions Label and its environmental comparability approach – E-000192/2025(ASW)

    Source: European Parliament

    The Commission shares the importance of ensuring a level playing field and providing consumers with accurate information to make informed choices and to allow the comparison of emissions between different modes of transport.

    In this context, the Commission has adopted in 2023 a proposal for CountEmissions EU[1], which is currently being discussed by co-legislators in the legislative procedure.

    The Flight Emissions Label (FEL)[2] was established under the ReFuelEU Aviation Regulation[3] as part of the political agreement reached by co-legislators, and it entered into force on 1 January 2025.

    FEL was developed in such a way that its methodology is coherent and consistent with the one proposed under the CountEmissions EU proposal.

    Airlines operating flights within the EU or departing from the EU will be able to voluntarily join this label which will be fully operational as of July 2025.

    The Commission will report to the co-legislators on the implementation of FEL by July 2027, drawing on the preparatory action ‘Environmental Label for Aviation’ delegated to the European Union Aviation Safety Agency[4].

    • [1] Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the accounting of greenhouse gas emissions of transport services, COM(2023) 441 final.
    • [2] Commission Implementing Regulation (EU) 2024/3170 of 18 December 2024 laying down detailed provisions concerning the voluntary environmental labelling scheme for the estimation of the environmental performance of flights, established pursuant to Article 14 of Regulation (EU) 2023/2405 of the European Parliament and of the Council (Flight Emissions Label).
    • [3] Regulation (EU) 2023/2405 of the European Parliament and of the Council of 18 October 2023 on ensuring a level playing field for sustainable air transport (ReFuelEU Aviation).
    • [4] COMMISSION DECISION of 5.4.2024 on the financing of pilot projects and preparatory actions in the field of transport and the adoption of the work programme for 2024.
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI New Zealand: Help us locate Ryan

    Source: New Zealand Police (National News)

    Police are seeking the community’s assistance in locating Ryan, who has been reported missing.

    The 16-year-old has left his Belmont home on the North Shore between 1.30 and 7am today.

    Ryan was dressed in school uniform at the time.

    He has not returned home or shown up at school in Glenfield this morning.

    Police and Ryan’s family are concerned for him.

    If you see Ryan, or have information on his whereabouts, please contact Police immediately on 111.

    Please use the reference number P061957888.

    We appreciate your assistance in this matter.

    ENDS.

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Procurement underway for Northland Corridor Section 1, Ara Tūhono – Warkworth to Te Hana

    Source: New Zealand Transport Agency

    NZ Transport Agency Waka Kotahi (NZTA) is inviting interested parties to express their interest in delivering the first section of the Northland Corridor Ara Tūhono – Warkworth to Te Hana, a major transport project designed to improve safety, resilience and efficiency between Auckland and Northland.

    Following extensive market engagement, Registrations of Interest (ROI) for the project opened on Friday:

    Invitation for Registrations of Interest (ROI) – Northland Corridor – Section 1 (Warkworth to Te Hana) Public Private Partnership(external link) 

    The ROI, which marks the start of the procurement process, was announced by Transport Minister, Hon. Chris Bishop, last week, in the lead up to the NZ Infrastructure Investment Summit. 

    “This is a major milestone for the development of Northland’s transport network,” says NZTA Northland Corridor Programme Director, Derek Robertson. 

    “The three Roads of National Significance that make up the Northland Corridor will support economic growth and productivity, reduce congestion, improve safety, support housing development, and improve freight connections to the wider Upper North Island.” 

    “The Ara Tūhono – Warkworth to Te Hana section is the most advanced part of the corridor in terms of consents, property acquisition and design, meaning we can start construction sooner than the other sections.” 

    The indicative design for the 26km four-lane highway includes an 850m tunnel in the Dome valley and three interchanges at Warkworth, Wellsford and Te Hana. These improvements will address the known safety and resilience challenges in the Dome valley, a critical freight and passenger route. 

    The project will be delivered under a Public Private Partnership (PPP), with the current Registration of Interest process marking the first stage of procurement. This will be followed by formal Expression of Interest (EOI) process that will get underway before the end of the month, and a Request for Proposal (RFP) in mid-2025 for up to three shortlisted bidders, with a preferred bidder expected to be announced in early 2026 and contract finalised by the middle of next year. 

    “We would like to thank both the New Zealand based and international contractors, investors and maintenance and operations for their contributions during the market engagement process. 

    “We have heard a lot about how things can be done more collaboratively, quickly and with great outcomes for partners and the community. Their valuable insights have helped us shape up the PPP procurement approach.” 

    Detailed design and construction are expected to start in late 2026. 

    NZTA is also advancing plans for the remaining sections, including an alternative route to the Brynderwyn Hills. Decisions on section 2 Te Hana to Port Marsden Highway and section 3 Port Marsden Highway to Whangārei will be announced soon. Taking a corridor approach will enable NZTA to take advantage of scale and leverage efficiencies, improve innovation and deliver outcomes faster.   

    “This project is an important investment in Northland’s future and will deliver long-term benefits for both the region and New Zealand’s wider transport network.” says Mr Robertson.

    MIL OSI New Zealand News –

  • MIL-OSI USA: FEMA Mitigation Experts Offer Rebuilding Advice in Manatee County

    Source: US Federal Emergency Management Agency

    Headline: FEMA Mitigation Experts Offer Rebuilding Advice in Manatee County

    FEMA Mitigation Experts Offer Rebuilding Advice in Manatee County

    TALLAHASSEE, Fla

    – As Floridians rebuild, survivors of Hurricanes Milton, Helene and Debby can get free advice on how to rebuild stronger and safer against storms

    FEMA mitigation specialists will be available to answer questions and offer free home improvement tips and proven methods to prevent and lessen damage from future disasters

    This information is geared for do-it-yourself work and general contractors

    FEMA specialists will be available from March 18 through March 29 from 7:30 a

    m

    to 5:00 p

    m

    ET, Monday – Friday and on Saturday from 7:30 a

    m

    to 1:00 p

    m

    ET, at the following location:Manatee County: Lowes, 7395 52nd Place East, Bradenton, FL 34203Mitigation is an effort to reduce the loss of life and property damage by lessening the impact of a disaster through   construction and remodeling best practices

    An insurance specialist will be present to answer National Flood Insurance Program (NFIP) questions

    Disaster Survivor Assistance teams will also be on hand to provide updates on FEMA applications and answer questions

    Stay in Touch with FEMAIt is important to let FEMA know about any changes to your contact information

     You may update contact information or check on the status of your application by:Visiting DisasterAssistance

    govCalling FEMA directly at 800-621-FEMA (3362)Using the FEMA app###FEMA’s mission is helping people before, during and after disasters

    Follow FEMA online, on X @FEMA or @FEMAEspanol, on FEMA’s Facebook page or Espanol page and at FEMA’s YouTube account

    Also, follow on X FEMA_Cam

     For preparedness information follow the Ready Campaign on X at @Ready

    gov, on Instagram @Ready

    gov or on the Ready Facebook page

      
    lindsay

    tozer
    Tue, 03/18/2025 – 14:31

    MIL OSI USA News –

  • MIL-OSI USA: Van Buren County Residents Invited to Review Flood Maps

    Source: US Federal Emergency Management Agency

    Headline: Van Buren County Residents Invited to Review Flood Maps

    Van Buren County Residents Invited to Review Flood Maps

    CHICAGO — Preliminary flood risk information and updated Flood Insurance Rate Maps (FIRMs) are available for review by residents and business owners in Van Buren County

    Property owners are encouraged to review the latest information to learn about local flood risks and potential future flood insurance requirements

    Community stakeholders can identify any concerns or questions about the information provided and participate in the 90-day appeal and comment period

    The 90-day appeal period will begin on or around March 20, 2025

    The preliminary maps and changes from current maps may be viewed online at the FEMA Flood Map Changes Viewer: msc

    fema

    gov/fmcv

    The updated maps were produced in coordination with local, state, and FEMA officials

    Significant community review of the maps has already taken place, but before the maps become final, community stakeholders can identify any concerns or questions about the information provided and submit appeals or comments

    Contact your local floodplain administrator to do so

    Appeals must include technical information, such as hydraulic or hydrologic data, to support the claim

    Appeals cannot be based on the effects of proposed projects or projects started after the study is in progress

    If property owners see incorrect information that does not change the flood hazard information, such as a missing or misspelled road name in the Special Flood Hazard Area or an incorrect corporate boundary, they can submit a written comment

    The next step in the mapping process is the resolution of all comments and appeals

    Once they are resolved, FEMA will notify communities of the effective date of the final maps

     For more information about the flood maps: Use a live chat service about flood maps at go

    usa

    gov/r6C (just click on the “Live Chat” icon during operating hours)

    Contact a FEMA Map Specialist by telephone toll-free at 1-877-FEMA-MAP (1-877-336-2627) or by email at FEMA-FMIX@fema

    dhs

    gov

      Most homeowner’s insurance policies do not cover flooding

    Learn more about your flood insurance options by talking with your insurance agent and visiting www

    FloodSmart

    gov

     For more information, contact the FEMA Mapping Team at FEMA-R5-MAP@fema

    dhs

    gov

     
    kimberly

    keblish
    Tue, 03/18/2025 – 13:08

    MIL OSI USA News –

  • MIL-OSI Economics: Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers

    Source: Verizon

    Headline: Verizon & Santander Bank partner to bring Openbank’s digital banking experience to Verizon customers

    • Partnership brings together industry leaders in mobility and banking to provide a secure, seamless digital banking experience to Verizon customers with no fees, low minimum deposits and 24/7 access to funds.
    • Relationship significantly expands Santander’s national scale and reach as part of its strategy to become a leading digital bank with branches and enhances Verizon’s financial service portfolio with added benefits for customers.

    Verizon and Santander Bank, N.A., part of the global banking leader Santander1, today announced a multi-year U.S. partnership to bring a new, competitive high yield savings account to millions of Verizon mobile and 5G Home customers. Introducing Verizon + Openbank Savings: a digital high yield savings account with a rate 10 times the national average and the ability to save up to $180 a year on your Verizon bill. Verizon + Openbank Savings joins Verizon’s portfolio of financial services offerings, yet another example of outstanding value and benefits on top of mobile and home connectivity.

    “Verizon has long been committed to delivering value and savings beyond wireless services,” said Hans Vestberg, Chairman and CEO of Verizon. “Our scale enables the creation of exclusive financial services solutions and savings accessible only to Verizon customers. Adding the power of Openbank’s secure, simple high yield savings account to our financial offerings provides Verizon customers with unique and differentiated value in the telco and financial services category. This collaboration reinforces our dedication to delivering meaningful and exclusive benefits that support how our customers live, work, play AND save.”

    Ana Botín, Banco Santander Executive Chair, added, “By partnering with Verizon, the nation’s leading mobile provider, Openbank can offer a differentiated savings opportunity and digital experience to millions of consumers across the U.S. The Verizon partnership is a significant milestone for Santander as we scale our U.S. business further by bringing Openbank’s secure and simple banking experience and compelling rewards to Verizon’s customers nationwide — backed by a leading global bank that has earned the trust of more than 173 million customers. This is an important step in our growth strategy, and I am excited for what’s ahead.”

    Incredible savings with Verizon + Openbank

    In addition to maximizing savings with Verizon + Openbank’s competitive interest rate at 10 times the national average, customers can also save on their Verizon wireless bill, starting with a minimum average daily balance of $1,000. The higher the average daily balance, the higher the wireless bill savings — up to $180 per year.

    Signing up is simple

    Starting in April, Verizon customers can easily sign up for an Openbank high yield savings account via verizon.com or the MyVerizon app. Customers will then be directed to the Openbank site to complete the account registration process. After opening their account, customers can use the Openbank app to deposit and withdraw funds, check their monthly interest rate and manage their accounts. To learn more, you can visit verizon.com/startsaving.

    Unlocking a savings growth opportunity

    Santander US research reveals that while interest rates have been at their highest levels in nearly two decades, many consumers have not taken advantage of high-rate products, such as high yield savings accounts, to grow their savings. The research also found consumers’ top consideration for selecting a banking partner are safety, stability, and 24/7 digital access. Openbank’s digital platform provides a secure, seamless banking experience with no fees, low minimum deposits and 24/7 access to funds and customer support.

    The Openbank digital banking platform launched in the U.S. market in late 2024 with a high yield savings account offering that quickly reached more than $3 billion (USD) in deposits. The digital platform is now available nationwide, and will begin offering additional products, such as Certificates of Deposit (CDs) and Checking Accounts, later in 2025. Openbank in the U.S. is a division of Santander Bank, N.A., which is a Member of the FDIC. For more information about Openbank by Santander, including eligibility, please visit openbank.us.

    With exclusive savings, top-tier perks, the flexibility to customize your plan with myPlan and myHome, and now the incredible Verizon + Openbank Savings account, it’s never been a better time to be a Verizon customer.

    1 Banco Santander is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of 2024, Banco Santander had €1.3 trillion in total funds, 173 million customers, 8,000 branches and 207,000 employees.

    Verizon + Openbank Savings is offered exclusively by Openbank, a division of Santander Bank, N.A., and is not managed, housed, or controlled by Verizon. Santander Bank, N.A., offering your account through its Openbank division, is a Federal Deposit Insurance Corporation (“FDIC”) insured institution. Deposits at Santander Bank, N.A. and its Openbank division are combined for FDIC insurance purposes (FDIC Cert. 29950) and are not separately

    insured. There is a maximum of $250,000 of deposit insurance from the FDIC per depositor for each category of account ownership. Please visit fdic.gov for details. Verizon is not a chartered banking institution and is not insured by FDIC.

    MIL OSI Economics –

  • MIL-OSI NGOs: China: Authorities must ensure labour activist’s Wang Jianbing’s full freedom after unjust imprisonment

    Source: Amnesty International –

    Responding to today’s release of Chinese labour activist Wang Jianbing after he served a three-and-a-half-year sentence for “inciting subversion of state power”, Amnesty International’s China Director Sarah Brooks said:

    “Wang Jianbing, alongside his co-defendant, the #MeToo activist Huang Xueqin, was convicted in an unfair trial following extended pre-trial detention. His release today should mark the end of his unjust treatment and deprivation of liberty.

    “However, we remain concerned that, despite having completed his prison sentence, Wang may face continued unlawful restrictions on his freedoms and the risk of re-detention. Upon his release from jail this morning, Wang was not permitted to return to his residence in Guangzhou, but was escorted by police more than 2000km to his parents’ home in remote northwestern Gansu province. 

    “Amnesty has for years documented instances of Chinese authorities targeting activists with surveillance and harassment even after they have been convicted in courts and served out their sentences. For example, in the months following her release from prison in May 2024, citizen journalist Zhang Zhan faced harassment from local police, and was ultimately re-detained on trumped up charges.

    “The Chinese authorities must ensure all arbitrary restrictions on Wang Jianbing are immediately lifted and guarantee the full enjoyment of his human rights, including to freedom of expression and association.”

    MIL OSI NGO –

  • MIL-OSI Video: 🚨Busted! #uscg #Cutter #Campbell #interdiction #cartel

    Source: US Coast Guard (video statements)

    Late last year, the Coast Guard Cutter Campbell (WMEC 909) broke up a suspected drug trafficking ring in the Eastern Pacific Ocean.

    The pursuit led to the seizure of approximately 8,061 pounds of cocaine worth an estimated street value of more than $91 million and the apprehension of suspected drug traffickers.

    Since January 2024, the crew of Campbell transferred a total of 87 suspected smugglers to federal law enforcement authorities, resulting from 24 interdictions by U.S. Coast Guard cutters in the Eastern Pacific Ocean and Caribbean Sea. 

    Campbell deployed in support of the Joint Interagency Task Force – South (JIATF-S) to advance the primary mission of interdicting illegal narcotics in known drug trafficking zones. The crew returned home to Newport, RI. after completing a 63-day, multi-mission patrol.

    To read more about their time at sea
    https://shorturl.at/AEmhM

    https://www.youtube.com/watch?v=BHU7jbZv27s

    MIL OSI Video –

  • MIL-OSI USA: Cortez Masto Secures $10 Million Investment in Affordable Housing in Nevada

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Reno, Nev. – For years, U.S. Senator Catherine Cortez Masto demanded the nation’s 11 Federal Home Loan Banks – and the Federal Home Loan Bank of San Francisco which serves Nevada – use their resources to invest in housing and community development. This week, the Federal Home Loan Bank of San Francisco (FHLBank-SF) provided the first investment into the Nevada Housing Division’s (NHD) single-family bond program. The $10 million dollar investment will support the Housing Finance Agency’s down payment assistance program that helps Nevadans buy homes they can afford.
    “I’ve been pushing the FHLBank of San Francisco for years to do more with all their resources, and I’m glad to see them working with the Nevada Housing Division to support families buying homes in Nevada,” said Senator Cortez Masto. “The FHLBank system was created to support housing, and I expect to see much more investment in Nevada and around the nation in the future.”
    Following Senator Cortez Masto’s push, state housing finance agencies, community development financial institutions and other institutions have sought opportunities to benefit from the FHLBs’ $467 billion investment portfolio. Thanks to the Senator’s work to bring attention to this critical housing funding source, Nevada Housing Division and the FHLBank-SF were able to work together and finalize this critical investment – the first of its kind in Nevada.  
    Senator Cortez Masto has been a leader working to push the FHLBanks to help lower costs and build more housing supply. Last year she secured $9.4 million from the Federal Home Loan Bank (FHLB) of San Francisco’s targeted competitive affordable housing fund — almost twice as much as Nevada received the year before — to build more middle-class homes, and she’s pushing to reform the FHLB system.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Hong Kong Customs seizes suspected dangerous drugs worth over $2.8 million (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs seizes suspected dangerous drugs worth over $2.8 million  
    Through risk assessment, Customs on March 11 inspected two air parcels, declared as bottle openers and arriving in Hong Kong from Italy. Upon inspection, Customs officers found that the batch of suspected ketamine was concealed inside 24 packaging boxes of bottle openers.
     
    After a follow-up investigation, Customs officers conducted a controlled delivery operation yesterday in Kwai Chung and arrested a male consignee, aged 31, who was suspected to be connected with the case. Later, Customs further seized about 34g of suspected ketamine and about 8g of suspected methamphetamine from his vehicle and in his possession respectively. 
     
    The arrested person has been charged with two counts of trafficking in a dangerous drug and one count of possession of dangerous drug. He will appear at the West Kowloon Magistrates’ Courts tomorrow (March 19).
     
    Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.
     
    Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
     
    Customs reminds people to pay attention to the fact that drug trafficking is a serious criminal offence. Criminal conviction will result in grave repercussions for their future and they should not take risks in the hope that they may not be caught.
     
    Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime reporting email account (crimereport@customs.gov.hkIssued at HKT 18:52

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Aterian Announces Share Repurchase Program

    Source: GlobeNewswire (MIL-OSI)

    SUMMIT, N.J., March 18, 2025 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”), a technology-enabled consumer products company, announced today that its Board of Directors has authorized a share repurchase program of up to $3.0 million of the Company’s common stock for a period of two years ending March 18, 2027.

    “The Board’s decision reflects our collective confidence in the Company’s future, the strength and flexibility of our financial profile, and our commitment to shareholders. We firmly believe that Aterian’s stock is significantly undervalued, and this repurchase program underscores our conviction in the long-term value we are creating,” said Arturo Rodriguez, Chief Executive Officer. “Over the last 18 months, we have made substantial progress in positioning Aterian for sustainable growth beginning in 2025. While our capital allocation strategy will continue to support these growth initiatives, our improved outlook and strong balance sheet give us the confidence to return capital directly to our shareholders via this share repurchase plan.”    

    Purchases under the plan may be made from time to time, through various means as the Company deems appropriate, including open market transactions, block purchases, privately negotiated transactions or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Purchases will be based on a variety of factors such as price, capital position, liquidity, financial performance, alternative uses of capital, and overall market conditions. There can be no assurance as to the number of shares the Company will purchase, if any. The share repurchase program may be increased or otherwise modified, renewed, suspended or terminated by the Company at any time, without prior notice.

    About Aterian, Inc.
    Aterian, Inc. (Nasdaq: ATER) is a technology-enabled consumer products company that builds and acquires leading e-commerce brands with top selling consumer products, in multiple categories, including home and kitchen appliances, health and wellness and air quality devices. The Company sells across the world’s largest online marketplaces with a focus on Amazon, Walmart and Target in the U.S. and on its own direct to consumer websites. Our primary brands include Squatty Potty, hOmeLabs, Mueller Living, PurSteam, Healing Solutions and Photo Paper Direct. To learn more about Aterian and its brands, visit aterian.io

    Forward Looking Statements
    All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, statements relating to the Company’s share repurchase program, including timing of and actual number of the shares to be repurchased, the method of share repurchase, the funding source of the share repurchases and the Company’s ability to repurchase shares while maintaining sufficient cash resources to advance its growth strategies, our expectations for growth in 2025, and our capital allocation strategies.

    These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our ability to continue as a going concern, our ability to meet financial covenants with our lenders, our ability to maintain and to grow market share in existing and new product categories; our ability to continue to profitably sell the SKUs we operate; our ability to create operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; those related to our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; those related to consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and our ability to integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.

    Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    Contact: 
    The Equity Group

    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

    The MIL Network –

  • MIL-OSI: Aterian Reports Fourth Quarter & Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Introduces Annual Guidance for 2025
    Announces $3 Million Share Repurchase Program

    SUMMIT, N.J., March 18, 2025 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”), a technology-enabled consumer products company, today announced financial results for the fourth quarter and full year ended December 31, 2024.

    “Aterian’s results for 2024 reflect our team’s success in executing a strategy to focus, stabilize, and simplify our operations in preparation for a resumption of growth and improved operating performance, ” said Arturo Rodriguez, Chief Executive Officer.

    “Our decision to rationalize SKUs and focus on the Company’s six foundational brands generated material improvements in gross margin and contribution margin, and narrowed our losses significantly compared to 2023,” continued Mr. Rodriguez. “We improved our cash flow and working capital profile, reduced debt by more than $4.0 million, and right sized our inventory to focus on Aterian’s most profitable products. These initiatives created a momentum that we believe will carry into 2025. Despite tariffs, we are confident that in 2025, especially with our experienced and tenacious team, we will be able to generate higher revenues, achieve greater operating efficiency, and further improve our profit profile. Our growth will be driven by new product introductions beginning in the second quarter of 2025 and access to a broader base of consumers through our sales channel initiatives.”

    Fourth Quarter 2024 Highlights
    All comparisons are to the fourth quarter ended December 31, 2023

    • Net revenue was $24.6 million compared to $32.8 million, primarily reflecting the previously announced SKU rationalization designed to focus on the Company’s most profitable products, lower liquidation levels of high-cost inventory, and initial contributions from new product introductions.
    • Gross margin improved to 63.4% from 51.0%, reflecting the success of the above-referenced SKU rationalization and improved inventory profile.
    • Contribution margin improved to 19.4% from (0.8%).
    • Operating loss narrowed to ($1.6) million from an operating loss of ($8.2) million. Fourth quarter 2024 operating loss included ($1.1) million of non-cash stock compensation, while fourth quarter 2023 operating loss included ($1.6) million of non-cash stock compensation, a non-cash loss on impairment of an intangible of ($0.3) million and a reserve for barter credits of ($0.3).
    • Net loss improved to ($1.3) million from ($7.7) million. Fourth quarter 2024 net loss included ($1.1) million of non-cash stock compensation and a gain on fair value of warrant liability of $0.2 million, while fourth quarter 2023 net loss included a reserve for barter credits of ($0.3) million, ($1.6) million of non-cash stock compensation, a non-cash loss on impairment of an intangible of ($0.3) million.
    • Adjusted EBITDA loss improved to ($0.1) million from a loss of ($5.6) million.
    • Total cash balance at December 31, 2024 was $18.0 million, up from $16.1 million at September 30, 2024.
    • Cash flow from operations improved to break-even from cash used in operations of ($4.9) million for the three months ended December 31, 2023.

    Full Year 2024 Highlights
    All comparisons are to the full year ended December 31, 2023

    • Net revenue declined to $99.0 million from $142.6 million, reflecting the success of the SKU rationalization, improved inventory profile, and new product introductions.
    • Gross margin improved to 62.1% compared to 49.3% in 2023, primarily reflecting the success of the above-referenced SKU rationalization and improved inventory profile.
    • Contribution margin rose to 17.1% from 1.2% in 2023.
    • Operating loss improved to ($11.8) million from ($76.2) million in 2023. Full year 2024 operating loss included ($7.5) million of non-cash stock compensation, and restructuring costs of ($0.6) million, while full year 2023 operating loss included ($8.3) million of non-cash stock compensation, a non-cash loss on impairment of intangibles of ($39.7) million, restructuring costs of ($1.6) million and a reserve for barter credits of ($0.3).
    • Net loss narrowed to ($11.9) million from ($74.6) million in 2023. Full year 2024 net loss includes ($7.5) million of non-cash stock compensation, restructuring costs of ($0.6) million, and a gain on fair value of warrant liability of $0.9 million, while full year 2023 net loss included ($8.3) million of non-cash stock compensation, a non-cash loss on impairment of intangibles of ($39.7) million, restructuring costs of ($1.6) million, a gain on fair value of warrant liability of $2.4 million, and a reserve on barter credits of ($0.3) million.
    • Adjusted EBITDA loss improved to ($2.1) million from a loss of ($22.3) million in 2023.
    • Total cash balance at December 31, 2024 was $18.0 million, down from $20.0 million at December 31, 2023.
    • Cash flow from operations improved to $2.2 million from cash used in operations of ($13.4) million for the year ended December 31, 2023.

    2025 Outlook

    For fiscal year 2025, taking into account the current global environment and impact of recently announced tariffs, the Company believes that net revenue will be between $104 million and $106 million, an increase of between 5% and 7% from net revenue of $99.0 million 2024. When considering approximately $4 million of net sales in 2024 related to discontinued SKUs, net revenue in 2025 is expected to increase on a pro forma basis by 9% to 12%.

    The Company expects 2025 annual Adjusted EBITDA to be essentially break-even compared to an Adjusted EBITDA loss of $(2.1) million in 2024, reflecting the success of the Company’s business improvement initiatives, offset by the impacts of recently announced tariffs.

    Josh Feldman, Chief Financial Officer commented, “We continue to monitor the tariff situation and its potential impact on our operations and outlook. We have already taken steps that we believe will mitigate the negative effects of tariffs in 2025, and are prepared to take further action as necessary. With the support of an exceptional team, an inherent agility, and strong balance sheet, we remain confident in our ability to successfully and proactively navigate these challenges while remaining focused on long-term growth and profitability.”

    Share Repurchase Plan
    As announced earlier today, the Company’s Board of Directors has authorized a share repurchase program of up to $3.0 million of the Company’s common stock for a period of two years ending March 18, 2027.

    Non-GAAP Financial Measures
    For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Non-GAAP Financial Measures” section below. The most directly comparable GAAP financial measure for EBITDA and adjusted EBITDA is net loss and we expect to report a net loss for the years ending December 31, 2024 and December 31, 2025 due primarily to our operating losses, which includes stock-based compensation expense, and interest expense. We are unable to reconcile the forward-looking statements of EBITDA and adjusted EBITDA in this press release to their nearest GAAP measures because the nearest GAAP financial measures are not accessible on a forward-looking basis and reconciling information is not available without unreasonable effort.

    Webcast and Conference Call Information
    Aterian will host a live conference call to discuss financial results today, March 18, 2025, at 5:00 p.m. Eastern Time, which will be accessible by telephone and the internet. To access the call, participants from within the U.S. should dial (800) 715-9871 and participants from outside the U.S. should dial (646) 307-1963 and ask to be joined into the Aterian, Inc. call or use conference ID 3432648. Participants may also access the call through a live webcast at https://ir.aterian.io. The archived online replay will be available for a limited time after the call in the investors section of the Aterian corporate website.

    About Aterian, Inc.
    Aterian, Inc. (Nasdaq: ATER) is a technology-enabled consumer products company that builds and acquires leading e-commerce brands with top selling consumer products, in multiple categories, including home and kitchen appliances, health and wellness and air quality devices. The Company sells across the world’s largest online marketplaces with a focus on Amazon, Walmart and Target in the U.S. and on its own direct to consumer websites. Our primary brands include Squatty Potty, hOmeLabs, Mueller Living, Pursteam, Healing Solutions and Photo Paper Direct.

    Forward Looking Statements
    All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements regarding our projected net revenue and adjusted EBITDA for 2025, our guidance for 2025 and the current global environment and inflation. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our ability to continue as a going concern, our ability to meet financial covenants with our lenders, our ability to maintain and to grow market share in existing and new product categories; our ability to continue to profitably sell the SKUs we operate; our ability to maintain Amazon’s Prime badge on our seller accounts or reinstate the Prime badge in the event of any removal of such badge by Amazon; our ability to create operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; those related to our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; those related to consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and our ability to integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.

    Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    Investor Contact:

    The Equity Group

    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

     
    ATERIAN, INC.
    Consolidated Balance Sheets
    (in thousands, except share and per share data)
     
        December 31,
    2023    		   December 31,
    2024
    ASSETS        
    Current assets:        
    Cash   $ 20,023     $ 17,998  
    Accounts receivable, net     4,225       3,782  
    Inventory     20,390       13,749  
    Prepaid and other current assets     4,998       3,190  
    Total current assets     49,636       38,719  
    Property and equipment, net     775       685  
    Intangibles, net     11,320       9,757  
    Other non-current assets     138       381  
    Total assets   $ 61,869     $ 49,542  
    LIABILITIES AND STOCKHOLDERS’ EQUITY        
    Current liabilities:        
    Credit facility   $ 11,098     $ 6,948  
    Accounts payable     4,190       3,080  
    Seller notes     1,049       466  
    Accrued and other current liabilities     9,110       8,804  
    Total current liabilities     25,447       19,298  
    Other liabilities     391       227  
    Total liabilities     25,838       19,525  
    Commitments and contingencies        
    Stockholders’ equity:        
    Common stock, $0.0001 par value, 500,000,000 shares authorized and 7,508,246 and 8,750,741 shares outstanding at December 31, 2023 and December 31, 2024, respectively(*)     9       9  
    Additional paid-in capital     736,675       742,591  
    Accumulated deficit     (699,815 )     (711,677 )
    Accumulated other comprehensive loss     (838 )     (906 )
    Total stockholders’ equity     36,031       30,017  
    Total liabilities and stockholders’ equity   $ 61,869     $ 49,542  

    (*) The number of shares and per share amounts have been retroactively restated to reflect the one for twelve (1 for 12) reverse stock split, which was effective on March 22, 2024. 

     
    ATERIAN, INC. 
    Consolidated Statements of Operations 
    (in thousands, except share and per share data)
     
        Three Months Ended
    December 31,    		   Year Ended
    December 31,
        2023   2024   2023   2024
    Net revenue   $ 32,754     $ 24,607     $ 142,566     $ 99,045  
    Cost of goods sold     16,045       9,000       72,281       37,550  
    Gross profit     16,709       15,607       70,285       61,495  
    Operating expenses:                
    Sales and distribution     20,207       13,692       81,911       55,979  
    Research and development     808       —       4,616       —  
    General and administrative     3,654       3,527       20,220       17,339  
    Impairment loss on intangibles     283       —       39,728       —  
    Total operating expenses     24,952       17,219       146,475       73,318  
    Operating loss     (8,243 )     (1,612 )     (76,190 )     (11,823 )
    Interest expense, net     345       209       1,421       949  
    Change in fair value of warrant liabilities     (30 )     (194 )     (2,440 )     (924 )
    Other expense, net     158       (215 )     260       61  
    Loss before income taxes     (8,716 )     (1,412 )     (75,431 )     (11,909 )
    Benefit for income taxes     (1,009 )     (113 )     (867 )     (47 )
    Net loss   $ (7,707 )   $ (1,299 )   $ (74,564 )   $ (11,862 )
    Net loss per share, basic and diluted   $ (1.16 )   $ (0.18 )   $ (11.43 )   $ (1.68 )
    Weighted-average number of shares outstanding, basic and diluted(*)     6,622,540       7,343,880       6,524,589       7,069,404  

    (*) The number of shares and per share amounts have been retroactively restated to reflect the one-for-twelve (1-for-12) reverse stock split, which was effective on March 22, 2024.

     
    ATERIAN, INC. 
    Consolidated Statement of Cash Flows 
    (in thousands, except share and per share data)
     
        Year Ended December 31,
        2023   2024
    OPERATING ACTIVITIES:        
    Net loss   $ (74,564 )   $ (11,862 )
    Adjustments to reconcile net loss to net cash (used in) provided by operating activities:        
    Depreciation and amortization     3,886       1,689  
    (Recovery) provision for sales returns     (413 )     57  
    Amortization of deferred financing cost and debt discounts     429       198  
    Stock-based compensation     8,336       7,510  
    Change in deferred tax expense     (1,153 )     (5 )
    Change in inventory provisions     (3,149 )     (2,738 )
    Change in fair value of warrant liabilities     (2,440 )     (924 )
    Impairment loss on intangibles     39,728       —  
    Provision for barter credits     323       —  
    Allowance for credit losses     85       16  
    Changes in assets and liabilities:        
    Accounts receivable     205       427  
    Inventory     26,426       9,378  
    Prepaid and other current assets     2,597       762  
    Accounts payable, accrued and other liabilities     (13,684 )     (2,343 )
    Cash (used in) provided by operating activities     (13,388 )     2,165  
    INVESTING ACTIVITIES:        
    Purchase of fixed assets     (119 )     (42 )
    Purchase of Step and Go assets     (125 )     —  
    Purchase of minority equity investment     —       (200 )
    Cash used in investing activities     (244 )     (242 )
    FINANCING ACTIVITIES:        
    Repayments on seller notes     (668 )     (633 )
    Borrowings from MidCap credit facilities     79,806       60,866  
    Repayments for MidCap credit facilities     (90,190 )     (65,165 )
    Insurance obligation payments     (1,042 )     (682 )
    Insurance financing proceeds     986       700  
    Cash used in financing activities     (11,108 )     (4,914 )
    Foreign currency effect on cash, cash equivalents, and restricted cash     306       (61 )
    Net change in cash and restricted cash for the year     (24,434 )     (3,052 )
    Cash and restricted cash at beginning of year     46,629       22,195  
    Cash and restricted cash at end of year   $ 22,195     $ 19,143  
    RECONCILIATION OF CASH AND RESTRICTED CASH:        
    Cash     20,023       17,998  
    Restricted cash—Prepaid and other current assets     2,043       1,015  
    Restricted cash—Other non-current assets     129       130  
    TOTAL CASH AND RESTRICTED CASH   $ 22,195     $ 19,143  
             
    SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
    Cash paid for interest   $ 1,718     $ 1,141  
    Cash paid for taxes   $ 94     $ 152  
    NON-CASH INVESTING AND FINANCING ACTIVITIES:        
    Non-cash consideration paid to contractors   $ 321     $ 620  
    Non-cash minority equity investment   $ —     $ 50  

    Non-GAAP Financial Measures
    We believe that our financial statements and the other financial data included in this press release have been prepared in a manner that complies, in all material respects, with generally accepted accounting principles in the U.S. (“GAAP”). However, for the reasons discussed below, we have presented certain non-GAAP measures herein.

    We have presented the following non-GAAP measures to assist investors in understanding our core net operating results on an on-going basis: (i) Contribution Margin; (ii) Contribution margin as a percentage of net revenue; (iii) EBITDA (iv) Adjusted EBITDA; and (v) Adjusted EBITDA as a percentage of net revenue. These non-GAAP financial measures may also assist investors in making comparisons of our core operating results with those of other companies.

    As used herein, Contribution margin represents gross profit less amortization of inventory step-up from acquisitions (included in cost of goods sold), reserve on barter credits and e-commerce platform commissions, online advertising, selling and logistics expenses (included in sales and distribution expenses). As used herein, Contribution margin as a percentage of net revenue represents Contribution margin divided by net revenue. As used herein, EBITDA represents net loss plus depreciation and amortization, interest expense, net and provision for income taxes. As used herein, Adjusted EBITDA represents EBITDA plus stock-based compensation expense, changes in fair-market value of warrant liability, impairment on intangibles, restructuring expenses, reserve on barter credits, and other expenses, net. As used herein, Adjusted EBITDA as a percentage of net revenue represents Adjusted EBITDA divided by net revenue. Contribution margin, EBITDA and Adjusted EBITDA do not represent and should not be considered as alternatives to loss from operations or net loss, as determined under GAAP.

    We present Contribution margin and Contribution margin as a percentage of net revenue, as we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to gross profit, provides useful supplemental information for investors. Specifically, Contribution margin and Contribution margin as a percentage of net revenue are two of our key metrics in running our business. All product decisions made by us, from the approval of launching a new product and to the liquidation of a product at the end of its life cycle, are measured primarily from Contribution margin and/or Contribution margin as a percentage of net revenue. Further, we believe these measures provide improved transparency to our stockholders to determine the performance of our products prior to fixed costs as opposed to referencing gross profit alone.

    In the reconciliation to calculate contribution margin, we add e-commerce platform commissions, online advertising, selling and logistics expenses (“sales and distribution variable expense”), and the reserve for barter credits to gross profit to inform users of our financial statements of what our product profitability is at each period prior to fixed costs (such as sales and distribution expenses such as salaries as well as research and development expenses and general administrative expenses). By excluding these fixed costs, we believe this allows users of our financial statements to understand our products performance and allows them to measure our products performance over time.

    We present EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue because we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to net loss, provide useful supplemental information for investors. We use these measures with financial measures prepared in accordance with GAAP, such as sales and gross margins, to assess our historical and prospective operating performance, to provide meaningful comparisons of operating performance across periods, to enhance our understanding of our operating performance and to compare our performance to that of our peers and competitors. We believe EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue are useful to investors in assessing the operating performance of our business without the effect of non-cash items.

    Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue should not be considered in isolation or as alternatives to net loss, loss from operations or any other measure of financial performance calculated and prescribed in accordance with GAAP. Neither EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue should be considered a measure of discretionary cash available to us to invest in the growth of our business. Our Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue may not be comparable to similar titled measures in other organizations because other organizations may not calculate Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue in the same manner as we do. Our presentation of Contribution margin and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by the expenses that are excluded from such terms or by unusual or non-recurring items.

    We recognize that EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue, have limitations as analytical financial measures. For example, neither EBITDA nor Adjusted EBITDA reflects:

    • our capital expenditures or future requirements for capital expenditures or mergers and acquisitions;
    • the interest expense or the cash requirements necessary to service interest expense or principal payments, associated with indebtedness;
    • depreciation and amortization, which are non-cash charges, although the assets being depreciated and amortized will likely have to be replaced in the future, or any cash requirements for the replacement of assets;
    • changes in cash requirements for our working capital needs; or
    • changes in fair value of warrant liabilities

    Additionally, Adjusted EBITDA excludes non-cash expense for stock-based compensation, which is and is expected to remain a key element of our overall long-term incentive compensation package.

    We also recognize that Contribution margin and Contribution margin as a percentage of net revenue have limitations as analytical financial measures. For example, Contribution margin does not reflect:

    • general and administrative expense necessary to operate our business;
    • research and development expenses necessary for the development, operation and support of our software platform;
    • the fixed costs portion of our sales and distribution expenses including stock-based compensation expense; or
    • changes in fair value warrant liabilities

    Contribution Margin

    The following table provides a reconciliation of Contribution margin to gross profit and Contribution margin as a percentage of net revenue to gross profit as a percentage of net revenue, which are the most directly comparable financial measures presented in accordance with GAAP.

        Three Months Ended December 31,   Year Ended
    December 31.    		  
        2023   2024   2023   2024  
        (in thousands, except percentages)  
    Gross Profit   $ 16,709     $ 15,607     $ 70,285     $ 61,495    
    Less:                  
    Reserve on barter credits     323       —       323       —    
    E-commerce platform commissions, online advertising, selling and logistics expenses     (17,293 )     (10,844 )     (68,864 )     (44,553 )  
    Contribution margin   $ (261 )   $ 4,763     $ 1,744     $ 16,942    
    Gross Profit as a percentage of net revenue     51.0   %   63.4   %   49.3   %   62.1   %
    Contribution margin as a percentage of net revenue     (0.8 ) %   19.4   %   1.2   %   17.1   %

    Adjusted EBITDA

        Three Months Ended
    December 31,    		   Year Ended
    December 31,    		  
        2023   2024   2023   2024  
        (in thousands, except percentages)  
    Net loss   $ (7,707 )   $ (1,299 )   $ (74,564 )   $ (11,862 )  
    Add:                  
    Benefit for income taxes     (1,009 )     (113 )     (867 )     (47 )  
    Interest expense, net     345       209       1,421       949    
    Depreciation and amortization     469       410       3,886       1,689    
    EBITDA     (7,902 )     (793 )     (70,124 )     (9,271 )  
    Other expense, net     158       (215 )     260       61    
    Impairment loss on intangibles     283       —       39,728       —    
    Change in fair market value of warrant liabilities     (30 )     (194 )     (2,440 )     (924 )  
    Reserve on barter credits     323       —       323       —    
    Restructuring expense     —       —       1,633       565    
    Stock-based compensation expense     1,564       1,116       8,336       7,510    
    Adjusted EBITDA   $ (5,604 )   $ (86 )   $ (22,284 )   $ (2,059 )  
    Net loss as a percentage of net revenue     (23.5 ) %   (5.3 ) %   (52.3 ) %   (12.0 ) %
    Adjusted EBITDA as a percentage of net revenue     (17.1 ) %   (0.3 ) %   (15.6 ) %   (2.1 ) %

    Each of our products typically goes through the Launch phase and depending on its level of success is moved to one of the other phases as further described below:

    i.        Launch phase: During this phase, we leverage our technology to target opportunities identified using AIMEE (Artificial Intelligence Marketplace e-Commerce Engine) and other sources. This phase also includes revenue from new product variations and relaunches. During this period of time, due to the combination of discounts and investment in marketing, our net margin for a product could be as low as approximately negative 35%. Net margin is calculated by taking net revenue less the cost of goods sold, less fulfillment, online advertising and selling expenses. These primarily reflect the estimated variable costs related to the sale of a product.

    ii        Sustain phase: Our goal is for every product we launch to enter the sustain phase and become profitable, with a target of positive 15% net margin for most products, within approximately three months of launch on average. Net margin primarily reflects a combination of manual and automated adjustments in price and marketing spend.

    iii.        Liquidate phase: If a product does not enter the sustain phase or if the customer satisfaction of the product (i.e., ratings) is not satisfactory, then it will go to the liquidate phase and we will sell through the remaining inventory. Products can also be liquidated as part of inventory normalization especially when steep discounts are required.

    The following tables break out our fourth quarter and full year 2023 and 2024 results of operations by our product phases (in thousands):

      Three months ended December 31, 2023
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 25,175 $ 390 $ 7,189 $ — $ — $ 32,754
    Cost of goods sold   10,457   114   5,474   —   —   16,045
    Gross profit   14,718   276   1,715   —   —   16,709
    Operating expenses:            
    Sales and distribution expenses   12,973   263   4,056   2,567   348   20,207
    Research and development   —   —   —   528   280   808
    General and administrative   —   —   —   2,717   937   3,654
    Impairment loss on intangibles   —   —   —   283   —   283
                 
      Three months ended December 31, 2024
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 23,332 $ 347 $ 928 $ — $ — $ 24,607
    Cost of goods sold   8,536   143   321   —   —   9,000
    Gross profit   14,796   204   607   —   —   15,607
    Operating expenses:            
    Sales and distribution expenses   9,965   309   570   2,767   81   13,692
    General and administrative   —   —   —   2,492   1,035   3,527
                 
      Year-ended December 31, 2023
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 114,919 $ 959 $ 26,688 $ — $ — $ 142,566
    Cost of goods sold   53,139   455   18,687   —   —   72,281
    Gross profit   61,780   504   8,001   —   —   70,285
    Operating expenses:            
    Sales and distribution expenses   53,442   603   14,820   10,607   2,439   81,911
    Research and development   —   —   —   3,202   1,414   4,616
    General and administrative   —   —   —   15,737   4,483   20,220
    Impairment loss on intangibles   —   —   —   39,728   —   39,728
                 
      Year-ended December 31, 2024
      Sustain Launch Liquidation/
    Other    		 Fixed Costs Stock Based
    Compensation    		 Total
    Net revenue $ 92,542 $ 1,829 $ 4,674 $ — $ — $ 99,045
    Cost of goods sold   35,012   651   1,887   —   —   37,550
    Gross profit   57,530   1,178   2,787   —   —   61,495
    Operating expenses:            
    Sales and distribution expenses   40,353   1,087   3,113   9,643   1,783   55,979
    General and administrative   —   —   —   11,612   5,727   17,339

    The MIL Network –