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Category: KB

  • MIL-OSI Video: Investing in America: A Future Forged of Steel

    Source: United States of America – Federal Government Departments (video statements)

    “A Future Forged of Steel” takes us to Cleveland-Cliffs Butler Works, where a historic Pennsylvania steel mill is manufacturing key components of our electrical grid while actively reducing its emissions.

    Since taking office, President Biden and Vice President Harris have created nearly 16 million jobs. Thanks to historic investments through the Biden-Harris Investing in America agenda, hundreds of thousands of those jobs are in clean energy — transforming communities for generations to come. From heavy equipment operators to autoworkers, pipefitters to linemen, hardworking Americans are powering our nation and supporting their families with good-paying, quality jobs.

    A Future Forged of Steel follows “A New Iron Age,” which spotlights workers at a new iron-air battery manufacturing facility located at a historic steel mill in Weirton, West Virginia. These batteries will store energy from renewable sources, delivering carbon-free electricity to more Americans. Watch it here: https://youtu.be/MZM_1VUn120?si=2STazv6rT2TokMQb

    Background:

    In March 2024, the Biden-Harris Administration announced $6 billion to decarbonize America’s industrial sector—the single largest investment of its kind in our nation’s history. U.S. Secretary of Energy Jennifer Granholm joined Butler Works employees in April 2024 to celebrate the announcement, which included up to $75 million for the Pennsylvania mill to install induction furnaces that reduce emissions and boost efficiency. Read more: https://www.energy.gov/articles/biden-harris-administration-announces-6-billion-transform-americas-industrial-sector

    https://www.youtube.com/watch?v=3gX3jNUa22s

    MIL OSI Video –

  • MIL-OSI Video: California Hydrogen Hub – Phase 1 Award Virtual Community Briefing

    Source: United States of America – Federal Government Departments (video statements)

    In July 2024, OCED awarded the California Hydrogen Hub—led by the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES)—with $30 million for the first tranche of funding out of the total project federal cost share of up to $1.2 billion to begin Phase 1 of its project plan. This recording of the virtual community briefing features a conversation between OCED and the ARCHES team to provide an overview of the current project plans and engagement opportunities for the California Hydrogen Hub, held on August 5, 2024. Visit https://www.energy.gov/oced/h2hubs to learn more.

    https://www.youtube.com/watch?v=XdDB4II4sJ0

    MIL OSI Video –

  • MIL-OSI Video: Pacific Northwest Hydrogen Hub – Phase 1 Award Virtual Community Briefing

    Source: United States of America – Federal Government Departments (video statements)

    In July 2024, OCED awarded the Pacific Northwest Hydrogen Hub—led by the Pacific Northwest Hydrogen Association (PNWH2)—with $27.5 million for the first tranche of funding out of the total project federal cost share of up to $1 billion to begin Phase 1 of its project plan.

    This recording of the virtual community briefing features a conversation between OCED and the PNWH2 team to provide an overview of the current project plans and engagement opportunities for the Pacific Northwest Hydrogen Hub, held on August 8, 2024.

    Visit https://www.energy.gov/oced/h2hubs to learn more.

    https://www.youtube.com/watch?v=Ibhsc14-BoA

    MIL OSI Video –

  • MIL-OSI Video: AHRQ Summit to Address Emergency Department Boarding | October 8, 2024 | Part 1

    Source: United States of America – Federal Government Departments (video statements)

    Boarding in emergency departments is a health system, public health, and health equity issue. Patients who need to be admitted to the hospital may spend hours – or in some cases, days – in the emergency department while waiting for an inpatient bed or transfer to another facility. This ultimately decreases quality of care, increases patient safety risks, and hinders access to care for patients while straining emergency department staff and hospital resources.

    The goal of this Summit is to engage public and private partners, including patients and consumers, clinicians, hospital and health system leaders, policy makers, experts in emergency medicine, community health, behavioral health, and specialty care providers, to identify actionable hospital- and health system-level solutions to systematically address emergency department boarding.

    To learn more, please visit the AHRQ Emergency Department Resource Page (link: https://www.ahrq.gov/topics/emergency-department.html#accordions).

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    U.S. Department of Health and Human Services (HHS) | http://www.hhs.gov | HHS Privacy Policy | http://www.hhs.gov/Privacy.html

    https://www.youtube.com/watch?v=vIH-9kDnKsI

    MIL OSI Video –

  • MIL-OSI Video: Hurricane Helene Survivor Tells Her Experience Applying for FEMA Assistance

    Source: United States of America – Federal Government Departments (video statements)

    Katheryn came to the opening of the Bakersville Disaster Recovery center to apply for assistance. She encourages other Hurricane Helene survivors to register.

    https://www.youtube.com/watch?v=w7zkDWxs_hA

    MIL OSI Video –

  • MIL-OSI Video: AHRQ Summit to Address Emergency Department Boarding | October 8, 2024 | Part 2

    Source: United States of America – Federal Government Departments (video statements)

    Boarding in emergency departments is a health system, public health, and health equity issue. Patients who need to be admitted to the hospital may spend hours – or in some cases, days – in the emergency department while waiting for an inpatient bed or transfer to another facility. This ultimately decreases quality of care, increases patient safety risks, and hinders access to care for patients while straining emergency department staff and hospital resources.

    The goal of this Summit is to engage public and private partners, including patients and consumers, clinicians, hospital and health system leaders, policy makers, experts in emergency medicine, community health, behavioral health, and specialty care providers, to identify actionable hospital- and health system-level solutions to systematically address emergency department boarding.

    To learn more, please visit the AHRQ Emergency Department Resource Page (link: https://www.ahrq.gov/topics/emergency-department.html#accordions).

    —

    U.S. Department of Health and Human Services (HHS) | http://www.hhs.gov | HHS Privacy Policy | http://www.hhs.gov/Privacy.html

    https://www.youtube.com/watch?v=SlmIjmG9jX0

    MIL OSI Video –

  • MIL-OSI Video: VA LGBTQ+ Health and Spirituality 10.08.2024

    Source: United States of America – Federal Government Departments (video statements)

    This outreach webinar provides VA CFBNP partners with information and resources regarding VA LGBTQ+ program and Health and Spirituality. This presentation is open to Veterans, their families, their beneficiaries, and the general public.

    The panelists for this training are:

    1. Dr. Jessica Morris, National Education Manager, LGBTQ+ Health Program, Office of Patient Care Services, Veterans Health Administration, U.S. Department of Veterans Affairs
    2. Chaplain Sammy Miller, Staff Chaplain, Jacksonville VA Outpatient Clinic, Veterans Health Administration, U.S. Department of Veterans Affairs

    https://www.youtube.com/watch?v=U_rFxx3tdKo

    MIL OSI Video –

  • MIL-OSI Video: Colombia: Progress and Challenges in the Peace Agreement -Security Council Briefing | United Nations

    Source: United Nations (Video News)

    The Head of the United Nations Verification Mission in Colombia (UNVMIC), Carlos Ruiz Massieu, today (15 Oct) told the Security Council that “historic progress has been made” in the implementation of the peace agreement, “but much remains to be done.” He welcomed the rapid response plan, or “Plan de Choque” being developed by the Minister of the Interior and other stakeholders.

    The plan, Ruiz Massieu said, “is a new instrument that should serve to energize implementation.”

    The UNVMIC Chief said, “we remain encouraged by the Government’s commitment to advancing the rural reform chapter of the Agreement – provisions that have a transformative potential, attacking structural causes of the conflict, but which had lagged in their implementation in previous years.”

    He said that as a result, “more land is being distributed and formalized for those in need, bringing the promised benefits of peace to landless peasants and those dispossessed of it during the conflict.”

    Ruiz Massieu said, “in some territories, signatories to the Agreement and social leaders continue to be the target of violence, pressure and threats from armed actors fighting for territorial control and strategic routes linked to illicit economies.”

    He noted that since the beginning of the reintegration process, five former territorial areas for training and reintegration (TATRs) have had to be relocated for these reasons

    Ruiz Massieu said, “the difficult situation in some areas continues to impact the lives of communities that are caught in the crossfire and subjected to condemnable phenomena such as the recruitment of minors, displacement and confinement.”

    Colombia’s Foreign Minister Luis Gilberto Murillo for his part said, “with the firm commitment to fulfil what has been agreed and to territorialize peace, we have developed a new strategic framework for peace, where effective and comprehensive compliance with the 2016 agreement becomes an inescapable requirement, unavoidable for the sustainability of strategic proposals surrounding territorial transformation.”

    On women’s participation in negotiation and peacebuilding, he said it was “not only is a question of justice, but it is crucial to ensure stronger and more durable agreements.”

    For this reason, he continued, “the Colombian government has formulated and is implementing a feminist foreign policy linked to the precepts of the women, peace and security agenda. Included in Security Council Resolution 1325”

    Outside the Council, Switzerland’s representative Riccarda Christiana Chanda read a statement on behalf of Ecuador, France, Guyana, Japan, Malta, the Republic of Korea, Sierra Leone, Slovenia, Switzerland, the United Kingdom, and the United States on Women Peace and Security.

    Chanda said, “during a visit of the Security Council to Colombia in February of this year, we were able to engage meaningfully with former combatants, victim representatives, women’s organizations, indigenous and Afro-Colombian communities to discuss the progress made and remaining obstacles in the comprehensive implementation of the peace agreement. And what we have witnessed over and over again, was the urgent call for improved security guarantees, equitable land distribution, and the successful social, political, and economic reintegration of former combatants as well as the crucial implementation of gender provisions and the ethnic chapter of the Peace Agreement.”

    UNVMIC was established by the UN Security Council pursuant to resolution 2366 (2017), adopted unanimously on 10 July 2017. The resolution followed a joint request for UN support from the Government of Colombia and the then Revolutionary Armed Forces of Colombia–People’s Army (FARC-EP).

    https://www.youtube.com/watch?v=iaI6rgXNDS4

    MIL OSI Video –

  • MIL-OSI Video: A Conversation on Lowering Drug Costs with HHS Secretary Becerra and Medicare Enrollees

    Source: United States of America – Federal Government Departments (video statements)

    Please join U.S. Department of Health and Human Services Secretary Xavier Becerra and Centers for Medicare & Medicaid Services Deputy Administrator and Center for Medicare Director Dr. Seshamani for a virtual roundtable discussion featuring Medicare enrollees from across the United States as they discuss the impact of the Biden-Harris Administration’s lower drug cost law, the Inflation Reduction Act. Through this law, President Biden and Vice President Harris are delivering lower costs for Americans with Medicare, including a $35 monthly cap for each covered insulin product and recommended vaccines for free like shingles, RSV, and Tdap. In 2024, some people with Medicare prescription drug coverage (Part D) who have high drug costs now have their out-of-pocket drug costs capped at about $3,500. Come January 2025, this benefit gets even better when everyone with Part D will have their out-of-pocket costs capped at $2,000. Finally, Medicare is now negotiating directly with participating drug companies to get lower prices for certain drugs.

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    U.S. Department of Health and Human Services (HHS) | http://www.hhs.gov | HHS Privacy Policy | http://www.hhs.gov/Privacy.html

    https://www.youtube.com/watch?v=HEOxcQaV10w

    MIL OSI Video –

  • MIL-OSI Video: Enhancing Mine Action Finance in Ukraine | United Nations

    Source: United Nations (Video News)

    The Resident Representative of the UN Development Programme in Ukraine, Jaco Cilliers, briefs on two key solutions to bridge the critical funding gap for mine action in Ukraine.

    https://www.youtube.com/watch?v=lOHOG5hHQz0

    MIL OSI Video –

  • MIL-OSI Global: Canada’s agricultural policies are falling short of health and sustainability goals

    Source: The Conversation – Canada – By Kathleen Kevany, Professor, Sustainable Food Systems, Dalhousie University

    Oct. 16 marks World Food Day, a global initiative drawing attention to the “right to foods for a better life and a better future.” However, Canada’s food and agricultural policies are falling short of this objective.

    Canada’s current agricultural policies are not serving the well-being of the public. Canada’s agricultural program payments and subsidies are not aligned with the government’s dietary guidelines and health goals.

    Very few agriculture investments go to the production of fruits and vegetables, even though Canadians under-consume them. Instead, financial support overwhelmingly goes to feed crops, agricultural export crops and foods high in saturated fat. This is particularly troubling, given the rise of food and lifestyle diseases in Canada, such as diabetes, obesity, coronary heart disease and high cholesterol.

    The health-care costs of diet-related diseases from not meeting the dietary guidelines are at least two per cent of all health-care costs in Canada, with some estimates putting it as high as 19 per cent. Agricultural policy is not just about food; it influences health, the economy and the environment.

    Climate change and agriculture

    Trying to address greenhouse gas emissions without paying attention to agriculture is like heating your home while not ensuring doors and windows are closed. Agriculture is a big contributor to Canada’s greenhouse gas emissions.

    As climate change intensifies, bringing more frequent and severe wildfires, droughts, floods, and heat domes , agriculture is being impacted. Instability in weather patterns threatens regional and global social stability and may require Canada to rethink the dominant role of international trade in shaping its current agricultural policies.



    Read more:
    How to fight climate change in agriculture while protecting jobs

    Government policies that largely support input-intensive crops and animal agriculture contribute significantly to methane and nitrous oxide emissions and global warming.

    Despite these concerns, Canada is not investing strategically or sufficiently in agriculture. Despite $12.5 billion dollars in annual agricultural supports, a surprising portion of Canadian farmers continue to financially struggle to survive. According to the National Farmers Union:

    “Over the last three decades, the agribusiness corporations that supply fertilizers, chemicals, machinery, fuels, technologies, services, credit, and other materials and services have captured 95 per cent of all farm revenues, leaving farmers just five per cent.”

    In 2016, 66 per cent of all farms in Canada were in the revenue class of $10,000 to $249,999. On average, these farms had expenses exceeding their revenue by a large margin.

    While Canada spends a large share of its budget on addressing the negative outcomes of how we produce and consume food, there remain greater opportunities for investing in preventive measures that promote a healthier, more sustainable food system. Canada’s 20th century agriculture policy regime is woefully insufficient for the challenges of the 21st century.

    Solutions to the crisis

    Transforming our food systems will help to avert devastating climate change and ecological devastation. Many Canadian farmers are already leading the way by incorporating principles of sustainability into their practices. And the good news is that healthy diets are also environmentally sustainable.

    Food outlets and school cafeterias can play a role in reducing inefficiencies in the food system, like food waste, and improving sustainability by promoting healthy eating. To make this happen, schools need more resources and autonomy to counter misinformation about food and position Canadians for success by making healthy choices attractive.



    Read more:
    How schools and families can take climate action by learning about food systems

    Many Canadians support local, bioregional food systems as an alternative to anonymous, transnational food systems. However, these local initiatives are not enough on their own to meet our health, community vitality and environmental goals.

    To truly make an impact, local food movements must be part of a larger, co-ordinated effort supported by policies that align agricultural production with healthy diets.
    A new approach to food policies that considers them from a holistic perspective, beyond GDP, and respects farmers while creating food systems based on the One Planet and One Health frameworks is needed.

    It’s important to recognize that farmers are not only just business operators; they are our neighbours, and are integral to our communities. Supporting them with better policies and giving everyone equitable access to nourishing and sustainable foods will ensure a healthier, more resilient future for all Canadians.

    Canada needs to provide stronger support for family farms practising agroecologically sound production methods. Government programs that support greater production and purchasing of grains, fruits and vegetables for direct human consumption are also needed. These initiatives would reduce Canada’s reliance on imports of these critical foods.

    In addition, federal and municipal governments should strengthen and broaden Canada’s bioregional food systems while also fostering the growth of small- and medium-sized food businesses. It’s also important to reduce the political and market power of oligopolies in Canada’s food system.

    A call for change

    None of these changes can happen without moving beyond the current, outdated productionist model that views agriculture in isolation and relies on the belief that only global-industrial food systems can feed the world.

    In fact, smaller-scale agroecological farmers operating in bioregional food systems are key. Achieving our broader societal goals means thinking of food through agriculture, human health and environmental sustainability lenses.

    Canada needs a new vision of agriculture that connects health and environment goals with sustainable diets and prosperous family farming. This vision must prioritize nutritious diets, human and environmental health, and the overall well-being of society beyond profits, market share and food exports. Also it must be formed collectively by decision-makers, farmers, food processors, community groups and the public.

    In Canada, governments, organizations and citizens must work together to create a food system vision for Canada, much like Food Secure Canada’s Resetting the Table process previously did.

    Further collaboration among agriculture, environment and health professionals can arise from these efforts, as can be seen with Canada’s National School Food program, which is aligning local farmers and suppliers of local options to meet Canada’s Food Guide. This is also an opportunity for Canada’s Food Policy Advisory Council to gain greater influence in shaping policy.

    Just as calls for health-care reform often focus on improving services, Canadians have the right to expect better outcomes from agricultural subsidies. By prioritizing economic, environmental and public health sustainability, Canada can ensure its agricultural policy is fit for its 21st-century food system.

    Kathleen Kevany received funding from Protein Industries Canada. She is an advisor to Farm to Cafeteria Canada.

    Howard Nye receives funding from the Social Sciences and Humanities Research Council of Canada. He is a board member and research lead for Canadians for Responsible Food Policy.

    Mark Kent Mullinix receives funding from Social Sciences and Humanities Research Council, Agriculture and Agri-Food Canada. Government of British Columbia, various foundations

    Talan B. Iscan is a project lead and receives funding from MacEachen Institute for Public Policy and Governance at Dalhousie University. He is a board member with the Halifax Cycling Coalition, a non-profit.

    – ref. Canada’s agricultural policies are falling short of health and sustainability goals – https://theconversation.com/canadas-agricultural-policies-are-falling-short-of-health-and-sustainability-goals-239560

    MIL OSI – Global Reports –

  • MIL-OSI Video: Governor Talk – Costa Rica: Leveraging Macroeconomic Stability and Digital Payment Systems

    Source: International Monetary Fund – IMF (video statements)

    Costa Rica has embarked over the years on a multi-dimensional reform program agenda, more recently supported by the successful completion of the EFF/RSF arrangements, that is helping reshape Costa Rica’s economy and advance its climate-related reforms. The Central Bank of Costa Rica has in parallel developed a centralized national digital payment system (SINPE) since early 2000s, which is currently used by more than 90 percent of Costa Rica’s population aged 18 and older. This event will first discuss Costa Rica’s achievements under the EFF/RSF programs and its reform agenda going forward. It will then showcase how SINPE has allowed the country to: (i) reduce transaction costs through a secure digital payment system; (ii) improve tax compliance by facilitating invoice payments; (iii) minimize the footprint of cash usage in an economy that is swiftly moving away from cash; and (iv) foster financial inclusion.

    With Roger Madrigal Lopez, President of the Central Bank of Costa Rica

    https://www.youtube.com/watch?v=CSaB1m0tzNk

    MIL OSI Video –

  • MIL-OSI USA: Ricketts Condemns Biden-Harris Administration Conditioning Israel Support

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    October 16, 2024

    October 16, 2024

    OMAHA, NE – U.S. Senator Pete Ricketts (R-NE), a member of the Senate Foreign Relations Committee, issued the following statement after the Biden-Harris administration sent a letter to Israel conditioning further arms support:

    “I’m disgusted by the Biden-Harris administration’s continued threats to withhold arms from an American ally fighting for its survival. Their appeasement-first foreign policy is undermining Israel and emboldening Iran and its terrorist proxies. The U.S. should be offering unconditional support to Israel in their fight to end Hamas and Hezbollah’s brutality. Anything less than that pushes peace further out of reach.”

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    MIL OSI USA News –

  • MIL-Evening Report: A new book reveals much of Trump’s success is based on a myth he is a self-made billionaire

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    Lucky Loser tells the story of Donald Trump’s less-than-stellar business career and how he was able to misrepresent it as a success.

    It is written by New York Times investigative journalists, Russ Buettner and Susanne Craig. Both have won Pulitzer Prizes for earlier analyses of Trump. Another badge of honour is Trump sued them – and lost.

    They are by no means the first writers to expose the Potemkin village that is Trump’s business empire. A telling insider account came from Trump’s niece, psychologist Mary Trump, who revealed the creator of Donald’s fortune was his father Fred.

    Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success – Russ Buettner and Susanne Craig (Bodley Head)

    Setting things straight

    However, at more than 500 pages, including more than 40
    pages of notes on sources, this new book is the most comprehensive rendering. It is detailed, clearly written and has been well-reviewed in the financial press and by economic historian Brad de Long.

    The authors aim to draw on financial statements and interviews to “set straight Donald Trump’s chaotic onslaught of untruths and misdirection”.

    A large part of the Trump mythology is the lie that he is a self-made billionaire. In the presidential debate with Hillary Clinton, Trump sought to downplay the contribution of his father, saying “my father gave me a very small loan”. The book reveals his father’s contribution, in today’s money, was around half a billion US dollars.

    Trump’s first piece of luck was being born the son of hard-working, cautious and competent residential property developer Fred Trump, the son of a German immigrant. His second was that Fred’s eldest son did not have the ruthless drive to become Fred’s successor, and Fred did not consider his daughters as potential successors. So despite some characteristics that were the antithesis of his father, Donald became his heir.

    The book describes Fred’s career in some detail. The first hundred pages are mostly about him. Once Fred stepped back, Trump diversified his father’s company to form what the authors term

    an eclectic conglomerate untethered from any core competency.

    Another piece of luck was been chosen to star in the reality television series The Apprentice, from which he made a lot of money, including from licensing deals, for the small amount of time he spent on it.

    The producers of this series have a lot to answer for, as they wanted to present their star as the astute businessman they knew him not to be. As they said, it was “not a documentary”. But it enormously and misleadingly raised Trump’s profile.

    Wins followed by losses

    The authors describe how some of Trump’s ventures, such as the development of Trump Tower, went well as the Manhattan property market boomed. He also profited from some “greenmailing” (buying shares in a company with the stated or implied intention of taking it over and then selling the shares at a higher price), facilitated by exaggerated accounts in the media of his wealth.

    But Trump used up much of the proceeds of his few successes covering his losses on a range of his other business ventures.

    Among his notable failures was Trump University, where he paid A$37 million to settle lawsuits for fraud. Many other property projects, Scottish golf courses, Trump Ice bottled water and Trump Mortgage, never turned a profit. And the punters were not the only ones losing money in Trump casinos.

    While he has fought to keep them secret, what has emerged from Trump’s tax returns are a series of huge losses.

    A conundrum not really addressed in the book is why so many bankers were willing to lend to him.



    Read more:
    What would a second Trump presidency mean for the global economy?

    The book concentrates on Trump’s career before the 2016 election, when the flawed US electoral system turned his almost 3 million vote loss on the popular vote into a win in the electoral college. As president, he disregarded conflicts of interest. As the authors note, parties wanting to influence the president could funnel money to him by booking blocks of rooms at his hotel.

    After 81 million Americans voted to fire him in 2020, Trump’s businesses again performed poorly.

    Trump’s current wealth is estimated by Forbes at A$5.7 billion (less than it was a decade ago). But about half of this is from his majority stake in Truth Social, promoted as a right-wing alternative to Twitter. (Now, it could be said, an even more right-wing forum than X.) It has tiny and falling revenues and makes large losses. If Trump loses the election, its value will probably soon be close to zero. It is regarded as a “meme stock”.

    Buettner and Craig conclude Trump “would have been better off betting on the sharemarket than on himself”. Analysis cited in The Economist in 2018 concluded that had Trump just put the money from his father into a sharemarket index fund he would have had A$2.9 billion in 2018. Given subsequent rises in the US stockmarket that would have grown to around A$5.9 billion by now, more than most estimates of his wealth.

    Forbes reached a similar conclusion, as did De Long and US political commentator Professor Robert Reich. The self-described business genius destroyed rather than created value.

    A poor tycoon and a poor president

    This business record of mismanaging an inheritance is reflected in Trump’s economic performance as president. He inherited the world’s largest economy from Obama. By the end of his term it was more than 10% smaller than China’s economy. Historians rank him one of the worst performing presidents on economic management (and much else). The public gave him the lowest approval ratings during his presidential term.

    Trump has indeed been a “lucky loser”. But if this deeply flawed man is returned to the presidency, the world will be an unlucky loser.



    Read more:
    From mass deportations to huge tariff hikes, here’s what Trump’s economic program would do to the US and Australia

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

    – ref. A new book reveals much of Trump’s success is based on a myth he is a self-made billionaire – https://theconversation.com/a-new-book-reveals-much-of-trumps-success-is-based-on-a-myth-he-is-a-self-made-billionaire-240648

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Manchin Announces Medicare Open Enrollment Through December 7th

    US Senate News:

    Source: United States Senator for West Virginia Joe Manchin

    October 16, 2024

    Charleston, WV – Today, U.S. Senator Joe Manchin (I-WV) announced that the open enrollment period for Medicare has begun and it will remain open through December 7, 2024. For the second year, seniors are able to choose Medicare plans with cost-saving benefits that were included in Senator Manchin’s Inflation Reduction Act.

    “Thanks to the Inflation Reduction Act, seniors in West Virginia and across the United States are saving money on their healthcare costs,” said Senator Manchin.  “I encourage all those eligible for Medicare to take the time to compare coverage options and choose plans that best meet the health needs of themselves and their families. Medicare is a lifeline for thousands of West Virginians, and I pledge to continue working to bolster Medicare and lower healthcare costs.”

    Since January 2024, thanks to the Inflation Reduction Act, prescription drug costs have become more affordable:

    • Seniors and other Part D enrollee now have their out-of-pocket drug costs capped at about $3,500 and all enrollees will have their costs capped at $2,000 in 2025. 
    • Low-income seniors and disabled people are able to get extra help paying for their premiums and cost-sharing through the expanded Low Income Subsidy program.
    • Lastly, many Medicare beneficiaries will continue to save hundreds of dollars on their healthcare costs because the price of insulin is capped at $35 per month and recommended vaccines are free.

    To find out more about Medicare Open Enrollment, and how you can change your own plan or work with the seniors in your life to get them on Medicare, click here.

    MIL OSI USA News –

  • MIL-OSI: Farmers & Merchants Bancorp (FMCB) Reports Record Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    Third Quarter 2024 Highlights

    • Record net income of $22.1 million, or $29.96 per share; up 2.50% on a per share basis from third quarter 2023;
    • Achieved a return on average assets of 1.65% and a return on average equity of 15.03%;
    • Solid liquidity position with $1.5 billion in cash and investment securities and a borrowing capacity of $2.1 billion with no outstanding borrowings as of September 30, 2024;
    • Continued growth in capital with a total risk-based capital ratio of 14.95%, common equity tier 1 ratio of 13.47%, tier 1 capital ratio of 13.70% and a tangible common equity ratio of 10.91%;
    • Credit quality remains strong with a total allowance for credit losses of 2.11%.

    LODI, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) — Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), reported record third quarter net income of $22.1 million, or $29.96 per diluted common share for the third quarter of 2024 compared with $22.0 million, or $29.23 per diluted common share for the third quarter of 2023 an increase of 2.50% on a per share basis. Annualized return on average assets was 1.65% and return on average equity was 15.03% for the third quarter of 2024 compared with 1.65% and 16.80% for the same period the prior year. The decrease in return on average equity was primarily the result of a $72.1 million or 13.58% increase in total shareholder’s equity even after paying record common stock cash dividends of $13.1 million to shareholders and repurchasing and retiring $14.0 million of the Company’s common stock during the last twelve months.

    Net income over the trailing twelve months was $88.0 million compared with $86.9 million for the same trailing period a year earlier. Earnings per share over the trailing twelve months totaled $118.46, up 3.79% compared with $114.13 for the same trailing period a year ago and up from $90.70 for the same period two years ago.

    CEO Commentary

    Kent Steinwert, Farmers & Merchants Bancorp’s Chairman, President and Chief Executive Officer, stated, “We are pleased with the Company’s strong ongoing financial performance including the results in the first nine months of 2024 highlighted by net income of $66.6 million, return on average assets of 1.65%, and a return on average equity of 15.55%. Our earnings per share over the trailing twelve months ended September 30, 2024 totaled $118.46, up 3.79% compared with $114.13 per share for the same trailing period a year ago. We achieved these strong results while continuing to maintain a solid liquidity position and balance sheet at quarter end with $1.5 billion of cash and investments, access to $2.1 billion in borrowing capacity and total shareholders’ equity of $602.7 million up $72.1 million or 13.58% from September 30, 2023. Capital levels continued to strengthen and are significantly above the regulatory thresholds for “well-capitalized” banks. Our longstanding established client relationships have contributed to our resilient and stable deposit balances of $4.7 billion as of September 30, 2024 and 2023. The loan portfolio continues to grow both during the third quarter and year over year as we continue to serve the needs of our customers and local communities. Consistent with the last several years, credit quality remains a strength of the Bank with a total allowance for credit losses of 2.11% and only $677,000 in non-accrual loans as of quarter-end. Our Company remains in excellent financial condition and is well positioned to meet any challenges ahead as we have for the past 108 years. We are also pleased to be recognized by others for our performance as Farmers & Merchants Bancorp was named by Bank Director’s Magazine as the #2 best performing bank in the nation across all asset categories in their annual “Ranking Banking” study of the top performing banks for 2023. This follows our #1 ranking in the prior year of the top performing banks for 2022. The recognition over the last two years can be traced to our strong client relationships and the focus of our employees on serving our clients.”

    Earnings

    Net interest income for the quarter ended September 30, 2024 was $52.0 million, an increase from $50.8 million in the second quarter of 2024. For the third quarter of 2024 the net interest margin increased to 4.07% compared to 3.91% in the second quarter of 2024 driven by a decrease in the average cost of total deposits from 1.51% in the second quarter of 2024 to 1.39% in the third quarter of 2024. Net interest income for the nine-months ended September 30, 2024 was $154.5 million, a decrease of $7.1 million, or 4.39%, when compared with the $161.6 million for the same period in 2023 as the increase in deposit costs outpaced the increase in loan yields. Loan yields increased to 6.11% for the first nine-months of 2024 compared to 5.77% for the same period in 2023 while the average cost of total deposits increased to 1.39% for the first nine-months of 2024 compared to 0.70% in the first nine-months of 2023. The net interest margin of 4.04% and average cost of total deposits of 1.39% for the nine-months ended September 30, 2024 continue to outperform industry averages.

    For the nine-months ended September 30, 2024, net income was $66.6 million, a slight decrease from the nine-months ended September 30, 2023 of $66.9 million. The nine-months ended September 30, 2023 benefited from cash proceeds from non-taxable death benefits on bank-owned life insurance (BOLI) of $4.3 million. Annualized return on average assets was 1.65% and return on average equity was 15.55% for the nine-months ended September 30, 2024 compared with 1.70% and 17.43% for the same period a year earlier.

    Balance Sheet

    Total assets were $5.4 billion as of September 30, 2024 consistent with September 30, 2023. Total loans and leases outstanding were $3.7 billion, an increase of $146.9 million or 4.13% from September 30, 2023. As of September 30, 2024 our total investment securities portfolio was $1.2 billion, an increase of $249.6 million from September 30, 2023. Over the last year, the portfolio mix has shifted as available-for-sale securities have increased from $106.5 million as of September 30, 2023 to $401.6 million as of September 30, 2024 while the held-to-maturity securities have decreased from $826.0 million as of September 30, 2023 to $780.5 million as of September 30, 2024. The increase in available-for-sale securities is due to purchases of $326.3 million in 2024. Accumulated other comprehensive losses on the available-for-sale securities portfolio decreased to $8.8 million as of September 30, 2024 compared to $20.2 million as of September 30, 2023. Total deposits remained consistent totaling $4.7 billion as of September 30, 2024 and September 30, 2023. Total deposits, at September 30, 2024, increased $111.6 million or 2.4% compared to June 30, 2024. Our loan to deposit ratio was 78.9% as of September 30, 2024 compared to 75.1% as of September 30, 2023.

    Credit Quality

    The Company’s credit quality remained resilient with only $677,000 in non-accrual loans as of September 30, 2024 and a minimal delinquency ratio of only 0.21% of total loans. Net charge-offs were $216,000 in the third quarter of 2024 compared to net recoveries of $47,000 in the third quarter of 2023. Net charge-offs were $149,000 for the first nine-months of 2024 compared to net recoveries of $274,000 for the first nine-months of 2023. Net charge-offs over the trailing twelve months were $93,000. Based on the credit performance of the loan and lease portfolio, no provision for credit losses has been necessary in the first nine-months of 2024. The Company’s allowance for credit losses on loans and leases and unfunded commitments was $78.5 million or 2.11% as of September 30, 2024 compared to $78.7 million or 2.13% as of June 30, 2024. We believe our allowance for credit losses is appropriate given the current economic environment including some stress in the agricultural sector. A few agricultural commodity prices have softened over the past two years due to the strong US Dollar impeding export competitiveness. This coupled with the higher short term interest rates and the effects of high inflation has created financial stress for some agriculture producers. We are diligently working with all borrowers affected by these market conditions in an effort to optimize performance during the current cycle.

    Capital

    The Company’s and Bank’s regulatory capital ratios remain strong while increasing from June 30, 2024. At September 30, 2024, the Company’s preliminary total risk-based capital ratio was 14.95%, the common equity tier 1 capital ratio was 13.47% and the tier 1 capital ratio was 13.70% an increase from 14.58%, 13.09% and 13.32% as of June 30, 2024, respectively. At September 30, 2024, all F&M Bank capital ratios exceeded the regulatory requirements to be classified as “well-capitalized”. At September 30, 2024, the tangible common equity ratio was 10.91% an increase of 127 basis points from the 9.64% as of September 30, 2023. Tangible book value per share increased to $799.04 at September 30, 2024, up 16.21% compared with $687.57 a year ago. During the third quarter, the Company repurchased 1,313 shares bringing the total to 9,976 shares for the nine-months ended September 30, 2024. The Company has repurchased a total of 10,400 shares or $10.5 million under the $25.0 million share repurchase program authorized in November 2023 which was cancelled on September 10, 2024. On September 10, 2024, the Company authorized a new share repurchase program for $55.0 million and has purchased 40 shares or $38,404 as of September 30, 2024. On October 3, 2024 the Company entered into and executed a Stock Purchase Agreement with the trust of one of our largest shareholders who passed away in January 2024. As a result, the Company repurchased 37,990 shares or $34.8 million under the Stock Purchase Agreement on October 3, 2024 leaving approximately $20.2 million remaining under the current share repurchase program which expires on December 31, 2026. After this transaction our total risk-based capital ratio was approximately 14.18% on a pro-forma basis.

    About Farmers & Merchants Bancorp

    Farmers & Merchants Bancorp, trades on the OTCQX under the symbol FMCB, is the parent company of Farmers & Merchants Bank of Central California, also known as F&M Bank. Founded in 1916, F&M Bank is a locally owned and operated community bank, which proudly serves California through 32 convenient locations. F&M Bank is financially strong, with $5.4 billion in assets, and is consistently recognized as one of the nation’s safest banks by national bank rating firms. The Bank has maintained a 5-Star rating from BauerFinancial for 34 consecutive years, longer than any other commercial bank in the State of California.

    Farmers & Merchants Bancorp has paid dividends for 89 consecutive years and has increased dividends for 59 consecutive years. As a result, Farmers & Merchants Bancorp is a member of a select group of only 56 publicly traded companies referred to as “Dividend Kings,” and is ranked 17th in that group based on consecutive years of dividend increases. A “Dividend King” is a stock with 50 or more consecutive years of dividend increase.

    In August 2024, Farmers & Merchants Bancorp was named by Bank Director’s Magazine as the #2 best performing bank in the nation across all asset categories in their annual “Ranking Banking” study of the top performing banks for 2023. Last year the Bank was named by Bank Director’s Magazine as the #1 best performing bank in the nation across all asset categories in their annual “Ranking Banking” study of the top performing banks for 2022.

    In April 2024, F&M Bank was ranked 6th on Forbes Magazine’s list of “America’s Best Banks” in 2023. Forbes’ annual “America’s Best Banks” list looks at ten metrics measuring growth, credit quality, profitability, and capital for the 2023 calendar year, as well as stock performance in the 12 months through March 18, 2024.

    In December 2023, F&M Bank was ranked 4th on S&P Global Market Intelligence’s “Top 50 List of Best-Performing Community Banks” in the US with assets between $3.0 billion and $10.0 billion for 2023. S&P Global Market Intelligence ranks financial institutions based on several key factors including financial returns, growth, and balance sheet risk profile.

    In October, 2021, F&M Bank was named the “Best Community Bank in California” by Newsweek magazine. Newsweek’s ranking recognizes those financial institutions that best serve their customers’ needs in each state. This recognition speaks to the superior customer service the F&M Bank team members provide to its clients.

    F&M Bank is the 15th largest bank lender to agriculture in the United States. F&M Bank operates in the mid-Central Valley of California including, Sacramento, San Joaquin, Solano, Stanislaus, and Merced counties and the east region of the San Francisco Bay Area, including Napa, Alameda and Contra Costa counties.

    F&M Bank was inducted into the National Agriculture Science Center’s “Ag Hall of Fame” at the end of 2021 for providing resources, financial advice, guidance, and support to the agribusiness communities as well as to students in the next generation of agribusiness workforce. F&M Bank is dedicated to helping California remain the premier agricultural region in the world and will continue to work with the next generation of farmers, ranchers, and processors. F&M Bank remains committed to servicing the needs of agribusiness in California as has been the case since its founding over 108 years ago.

    F&M Bank offers a full complement of loan, deposit, equipment leasing and treasury management products to businesses, as well as a full suite of consumer banking products. The FDIC awarded F&M Bank the highest possible rating of “Outstanding” in their last Community Reinvestment Act (“CRA”) evaluation.

    Forward-Looking Statements

    This press release may contain certain forward-looking statements that are based on management’s current expectations regarding the Company’s financial performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “intend,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Forward-looking statements in this press release include, without limitation, statements regarding loan and deposit production (including any growth representations), balance sheet management, levels of net interest margin, the ability to control costs and expenses, the competitive environment, financial and regulatory policies of the United States government, water management issues in California and general economic conditions, inflation, recessions, natural disasters, pandemics, geopolitical risks, economic uncertainty in the United States, changes in interest rates, deposit flows, real estate values, costs or effects of acquisitions, competition, changes in accounting principles, policies or guidelines, legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors (including external fraud and cybersecurity threats) affecting the Company’s operations, pricing, products and services. These and other important factors are detailed in the Company’s Form 10-K, Form 10-Qs, and various other securities law filings made periodically by the Company, copies of which are available from the Company’s website. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

    For more information about Farmers & Merchants Bancorp and F&M Bank, visit fmbonline.com.

    Investor Relations Contact

    Farmers & Merchants Bancorp
    Bart R. Olson
    Executive Vice President and Chief Financial Officer
    Phone: 209-367-2485
    bolson@fmbonline.com

                           
    FINANCIAL HIGHLIGHTS                      
        Three-Months Ended     Nine-Months Ended
    (dollars in thousands, except share and per share amounts) September 30,
    2024    		   June 30, 2024   September 30,
    2023    		     September 30,
    2024    		   September 30,
    2023
    Earnings and Profitability:                      
    Interest income   $ 68,635     $ 69,831     $ 65,713       $ 205,107     $ 186,362  
    Interest expense     16,642       19,050       12,272         50,620       24,777  
    Net interest income     51,993       50,781       53,441         154,487       161,585  
    Provision for credit losses     –       –       3,000         –       7,057  
    Noninterest income     6,280       4,767       3,606         16,122       12,513  
    Noninterest expense     27,755       25,422       24,468         78,698       79,473  
    Income before taxes     30,518       30,126       29,579         91,911       87,568  
    Income tax expense     8,397       8,359       7,545         25,300       20,679  
    Net income   $ 22,121     $ 21,767     $ 22,034       $ 66,611     $ 66,889  
                           
    Diluted earnings per share   $ 29.96     $ 29.39     $ 29.23       $ 89.91     $ 88.06  
    Return on average assets     1.65 %     1.58 %     1.65 %       1.65 %     1.70 %
    Return on average equity     15.03 %     15.33 %     16.80 %       15.55 %     17.43 %
                           
    Loan yield     6.13 %     6.13 %     5.87 %       6.11 %     5.77 %
    Cost of average total deposits     1.39 %     1.51 %     1.01 %       1.39 %     0.70 %
    Net interest margin – tax equivalent     4.07 %     3.91 %     4.17 %       4.04 %     4.33 %
    Effective tax rate     27.51 %     27.75 %     25.51 %       27.53 %     23.61 %
    Efficiency ratio     47.63 %     45.77 %     42.89 %       46.13 %     45.65 %
    Book value per share   $ 816.67     $ 779.40     $ 705.60       $ 816.67     $ 705.60  
                           
    Balance Sheet:                      
    Total assets   $ 5,418,132     $ 5,267,485     $ 5,375,375       $ 5,418,132     $ 5,375,375  
    Cash and cash equivalents     293,250       295,936       668,361         293,250       668,361  
    of which held at Fed     198,637       225,676       597,739         198,637       597,739  
    Total securities     1,182,073       1,046,210       932,508         1,182,073       932,508  
       of which available-for-sale     401,563       251,413       106,493         401,563       106,493  
       of which held-to-maturity     780,510       794,797       826,015         780,510       826,015  
    Gross Loans     3,713,735       3,692,237       3,567,807         3,713,735       3,567,807  
    Allowance for credit losses – loans and leases     75,816       75,032       74,159         75,816       74,159  
    Total deposits     4,708,682       4,597,055       4,748,767         4,708,682       4,748,767  
    Borrowings     –       –       –         –       –  
    Subordinated debentures     10,310       10,310       10,310         10,310       10,310  
    Total shareholders’ equity   $ 602,696     $ 576,220     $ 530,623       $ 602,696     $ 530,623  
                           
    Loan-to-deposit ratio     78.87 %     80.32 %     75.13 %       78.87 %     75.13 %
    Percentage of checking deposits to total deposits     50.01 %     48.60 %     51.72 %       50.01 %     51.72 %
                           
    Capital ratios (Bancorp) (1)                      
    Common equity tier 1 capital to risk-weighted assets     13.47 %     13.09 %     12.48 %       13.47 %     12.48 %
    Tier 1 capital to risk-weighted assets     13.70 %     13.32 %     12.72 %       13.70 %     12.72 %
    Risk-based capital to risk-weighted assets     14.95 %     14.58 %     13.97 %       14.95 %     13.97 %
    Tier 1 leverage capital ratio     11.32 %     10.66 %     10.22 %       11.32 %     10.22 %
    Tangible common equity ratio (2)     10.91 %     10.72 %     9.64 %       10.91 %     9.64 %
                           
    (1) Capital information is preliminary for September 30, 2024                    
    (2) Non-GAAP measurement                      
                           
    Non-GAAP measurement reconciliation:                      
    (Dollars in thousands)   September 30,
    2024    		   June 30, 2024   September 30,
    2023    		          
                           
    Shareholders’ equity   $ 602,696     $ 576,220     $ 530,623            
    Less: Intangible assets     13,007       13,145       13,563            
    Tangible common equity   $ 589,689     $ 563,075     $ 517,060            
                           
    Total assets   $ 5,418,132     $ 5,267,485     $ 5,375,375            
    Less: Intangible assets     13,007       13,145       13,563            
    Tangible assets   $ 5,405,125     $ 5,254,340     $ 5,361,812            
                           
    Tangible common equity ratio (1)     10.91 %     10.72 %     9.64 %          
                           
    (1) Tangible common equity divided by tangible assets                      
                           

    The MIL Network –

  • MIL-OSI USA: Brown Joins Ashtabula Community to Demand That Coast Guard Make Ashtabula Station Fully Operational

    US Senate News:

    Source: United States Senator for Ohio Sherrod Brown

    ASHTABULA, OH – Today, U.S. Senator Sherrod Brown (D-OH) joined community members at the Ashtabula Fire Department to call on the Biden Administration to reopen the United States Coast Guard’s Ashtabula Harbor Station and restore Ashtabula and U.S. Coast Guard Fairport to full-time operation to better protect Ohioans on Lake Erie. Having a continued, fully-staffed Coast Guard presence at U.S. Coast Guard Ashtabula and Fairport Stations is critical to securing the water-based border and supporting the entire region’s coastal economy and tourism industry.

    “Together with the Ashtabula community, I’m demanding the Administration restore Ashtabula Harbor Station to its full capacity. Its closure is unacceptable,” said Brown. “Lake Erie is vital to our way of life in Northeast Ohio. Ohioans rely on our lake as a driver of economic growth that supports both commerce and recreation – but that hinges on a fully operational and well-staffed Coast Guard to keep Ohioans and visitors safe on the Lake.”

    Since 1893, the U.S. Coast Guard has had a presence in Ashtabula, serving a vital public safety role for the entire region by protecting our water-based border, combating the trafficking of illegal drugs like fentanyl, engaging in counterterrorism operations, supporting commerce, and protecting boaters. But last year, the Biden Administration significantly downsized the U.S. Coast Guard presence in Ashtabula and U.S. Coast Guard Fairport. As there are every year, there have been a number of emergencies and safety issues on Lake Erie this year – including one weekend where one boater died and 13 others were rescued.

    “We have an outstanding relationship with the men and women of our Coast Guard Station Ashtabula and their presence in our community is vital to the safety of our tourists, outdoor enthusiasts, boaters, and commercial vessels. It is a strain on our resources when they are not in port, and although we take the time to train for emergencies on the water, this is not our expertise. We cannot replace the skills and response of the Coast Guard when they are in our station. We are hopeful complete coverage will be restored,” said Jim Timonere, City Manager, City of Ashtabula.

    “The City of Conneaut is the Northeastern Gateway to our region with a seven-mile coastline for swimming, recreational boating and deepwater port commerce. It is crucial as a network of port communities like Ashtabula and Conneaut, steeped in diverse maritime history, to have these assets close to us in here in the City of Ashtabula,” said Nicholas A. Sanford, City Manager, City of Conneaut.

    Brown is leading the fight to reopen the station full-time and has repeatedly  urged the administration to reopen all operations along Lake Erie. Following Brown’s push, the U.S. Coast Guard staffed Ashtabula Harbor on weekends until this past Labor Day but have stopped since. Brown is continuing to demand the restoration of full-time staffing at U.S. Coast Guard Ashtabula and U.S. Coast Guard Fairport.

    MIL OSI USA News –

  • MIL-OSI: Israel Acquisitions Corp. Announces LOI with Gadfin Aero-Logistics Systems

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Oct. 16, 2024 (GLOBE NEWSWIRE) — Israel Acquisitions Corp. (NASDAQ: ISRL) today announced that it has signed a non-binding letter of intent (“LOI”) for a proposed business combination (the “Combination”) with Gadfin Aero-Logistics Systems (“Gadfin”), an Israeli technology company specializing in all-weather unmanned aerial delivery for necessary cargo such as medical supplies.

    Through the company’s patented technology, its unmanned aerial vehicles, powered by Hydrogen Fuel cells, that are able to deliver medical supplies and other cargo with ease, even under harsh weather conditions to long range destinations. This makes it possible to significantly improve logistics delivery in both combat zones and for civil purposes.

    “Israeli entrepreneurs have been known as lead innovators in technology, and Gadfin’s unmanned aerial vehicles are no exception,” says Izhar Shay, Executive Chairman of Israel Acquisitions Corp. “The company’s technology has the ability to revolutionize the speed of delivery of necessary medical supplies and other important cargo, including into high-risk areas. We look forward to partnering with Gadfin and supporting the growth of their business.”

    “We are excited to partner with Israel Acquisitions Corp and bring our unparalleled technology to the Nasdaq markets,” says Eyal Regev, Gadfin CEO. “With this public listing, we will be able to accelerate our production and bring to the market new models fulfilling backlog orders. This will bring this much needed technology to remote locations, hospitals, and other civil areas.”

    Israel Acquisitions Corp expects to announce additional details regarding the Combination when a definitive Business Combination Agreement is executed, which is expected in the fourth quarter of 2024.

    About Israel Acquisitions Corp.
    Israel Acquisitions Corp. is a Cayman Islands exempted company incorporated as a blank-check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus on high-growth technology companies that are domiciled in Israel, and that either carry out all or a substantial portion of their activities in Israel or have some other significant Israeli connection. The management team is led by Chairman, Izhar Shay, Chief Executive Officer, Ziv Elul, and Chief Financial Officer, Sharon Barzik Cohen.

    Forward Looking-Statements
    This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, http://www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Contact:
    contact@israelspac.com

    The MIL Network –

  • MIL-OSI: Home Federal Bancorp, Inc. of Louisiana Declares Quarterly Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    SHREVEPORT, La., Oct. 16, 2024 (GLOBE NEWSWIRE) — Home Federal Bancorp, Inc. of Louisiana (the “Company”) (NASDAQ: HFBL), the holding company for Home Federal Bank, announced today that its Board of Directors at their meeting on October 16, 2024, declared a quarterly cash dividend of $0.13 per share on the Company’s common stock. The dividend is payable on November 11, 2024, to the shareholders of record at the close of business on October 28, 2024.

    Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its ten full-service banking offices and home office in northwest Louisiana. Additional information is available at http://www.hfb.bank.

    Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” We undertake no obligation to update any forward-looking statements.

    Contact:    
    Home Federal Bancorp, Inc. of Louisiana
    James R. Barlow, Chairman of the Board, President and
    Chief Executive Officer
    (318) 222-1145    		    
         

    The MIL Network –

  • MIL-OSI: HCI Group Sets Third Quarter 2024 Earnings Call for Thursday, November 7, 2024, at 4:45 p.m. ET

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., Oct. 16, 2024 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, will hold a conference call on Thursday, November 7, 2024, at 4:45 p.m. Eastern time to discuss results for the third quarter ended September 30, 2024. Financial results will be issued in a press release the same day after the close of the market.

    HCI management will host the presentation, followed by a question-and-answer period.

    Interested parties can listen to the live presentation by dialing the listen-only number below or by clicking the webcast link available on the Investor Information section of the company’s website at http://www.hcigroup.com.

    Date: Thursday, November 7, 2024
    Time: 4:45 p.m. Eastern time (1:45 p.m. Pacific time)
    Toll Free: 888-506-0062
    International: 973-528-0011
    Participant Access Code: 821320

    Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860.

    A replay of the call will be available after 8:00 p.m. Eastern time on the same day as the call and via the Investor Information section of the HCI Group website at http://www.hcigroup.com.

    Toll Free: 877-481-4010
    International: 919-882-2331
    Replay Passcode: 51444

    About HCI Group, Inc.
    HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners insurance, information technology services, insurance management, real estate, and reinsurance. HCI’s leading insurance operation, TypTap Insurance Company, is a technology-driven homeowners insurance company. TypTap’s operations are powered in large part by insurance-related information technology developed by HCI’s software subsidiary, Exzeo USA, Inc. HCI’s largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides homeowners insurance primarily in Florida. HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

    The company’s common shares trade on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit http://www.hcigroup.com.

    Company Contact:
    Bill Broomall, CFA
    Investor Relations
    HCI Group, Inc.
    Tel (813) 776-1012
    wbroomall@typtap.com

    Investor Relations Contact:
    Matt Glover
    Gateway Group, Inc.
    Tel 949-574-3860
    HCI@gateway-grp.com

    The MIL Network –

  • MIL-OSI: Global Technology Acquisition Corp. I Announces Liquidation

    Source: GlobeNewswire (MIL-OSI)

    ZEPHYR COVE, NEVADA, Oct. 16, 2024 (GLOBE NEWSWIRE) — Global Technology Acquisition Corp. I (the “Company”) (Nasdaq: GTAC), announced today that it is unable to complete an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association, as amended (the “Charter”), and therefore intends to dissolve and liquidate in accordance with the provisions of the Charter, and will redeem all of the outstanding Class A ordinary shares that were included in the units issued in its initial public offering (the “Public Shares”), at a per-share redemption price of approximately $11.50 (after taking into account the removal of a portion of the accrued interest in the trust account to pay taxes and $100,000 to pay dissolution expenses).

    As of the close of business on October 18, 2024, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount. The Company anticipates that the last day of trading of the Public Shares and the Company’s publicly traded units and warrants on the Nasdaq Stock Market will be on or around October 17, 2024, and trading of Public Shares will be suspended effective before the opening of markets on October 18, 2024.

    In order to provide for the disbursement of funds from the trust account, the Company has instructed the trustee of the trust account to take all necessary actions to liquidate any securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company’s transfer agent. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed as promptly as practicable, but no later than October 25, 2024.

    All holders of the Company’s Class B ordinary shares have agreed to waive their redemption rights with respect to their outstanding Class B ordinary shares of the Company, and the Company’s former sponsor has waived its redemption rights with respect to 1,300,000 of the Company’s Class A ordinary shares that were issued upon the conversion of 1,300,000 of the Company’s Class B ordinary shares. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.

    The Company expects that the Nasdaq Stock Market will file a Form 25 with the United States Securities and Exchange Commission (the “Commission”) to delist the Company’s securities. The Company thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended. 

    About Global Technology Acquisition Corp. I

    Global Technology Acquisition Corp. I is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. For more information, visit http://www.globaltechnologyacquisitioncorp.com.

    Forward-Looking Statements

    The information in this press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical fact included in this press release including, without limitation, the estimated per-share redemption price and the timing for the completion of the redemption of the Public Shares, are forward-looking statements. Words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management’s current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Commission on April 1, 2024, the Company’s subsequent Quarterly Reports on Form 10-Q and elsewhere in the Company’s filings with the SEC. The Company’s securities filings can be accessed on the EDGAR section of the SEC’s website at http://www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

    Contact:
    Nicholas Geeza, Chief Financial Officer
    Global Technology Acquisition Corp. I
    ngeeza@hennessycapitalgroup.com

    The MIL Network –

  • MIL-OSI New Zealand: DOC Northland readies for a busy summer

    Source: Department of Conservation

    Date:  17 October 2024

    Many sites are already booked out over the peak Christmas and New Year period, but there are still opportunities for those looking to explore Northland’s natural beauty over the upcoming summer period.

    DOC campsites offer affordable holiday options in pristine settings, and staff work hard to ensure campers can enjoy the summer season with minimal disruptions, says Bronwyn Bauer Hunt, Operations Manager Te Pēwhairangi (Bay of Islands).

    “Northland’s DOC campsites have always been a favourite for summer holidaymakers, offering unique experiences from coastal views to tranquil bush settings. We encourage people to plan ahead and book early where possible, especially during peak times and be aware of the rules in place to protect these special places.”

    “Our islands have special biodiversity values and are home to threatened plant and animal species, some of which only exist in a few places. Wildfire can be devastating to these native ecosystems and we are very concerned about the threat of pest seaweed Caulerpa,” says Bronwyn.

    Background information

    Important information for campers and day trippers

    • Fires: Visitors are reminded not to light fires on any of the islands due to the significant risk to local wildlife and ecosystems.
    • Biosecurity: It’s vital to follow biosecurity rules to protect these fragile environments—clean your gear and check for pests before visiting. It is illegal to fish or anchor a vessel in the defined controlled area of Te Rāwhiti Inlet to help control the spread of Caulerpa.
    • Marine Mammal Sanctuary Bay of Islands: Please respect the sanctuary rules and avoid entering designated safe zones to protect dolphins and other marine life.
    • Dogs: Dogs are not permitted at DOC campsites and areas to prevent disturbance or harm to native wildlife.

    Northland campsite availability for summer 2024/2025:

    While some campsites are booked solid through the busy holiday period, others still have availability for those seeking an adventure later in the summer.

    • Uretiti Campsite—50% availability from Christmas onwards, with more space opening up after the peak holiday period.
    • Trounson Kauri Park and Puketi campsites—plenty of availability through December and January.
    • Puriri, Waikahoa, Urupukapuka Island Campsites—fully booked until mid-January, with availability after that.
    • Otamure Campsite—booked out until the end of January, with some availability from February onwards.

    Some campsites do not need to be booked and operate on a first-come, first-served basis.

    How to camp responsibly:

    • Be prepared—check the latest information on weather, travel conditions, wildlife, walking tracks, and the gear you’ll need before heading out.
    • Respect nature—use biodegradable products, and keep your washing away from rivers, lakes, and the ocean to protect local ecosystems. Most camps have a pack in pack out policy.
    • Check campsite rules—understand where to pitch your tent and whether there are fire restrictions before lighting any outdoor fires.
    • Plan for waste—not all campsites have waste disposal, so campers should take rubbish with them when leaving.
    • Book early—secure your spot at a DOC campsite by booking in advance, especially during peak periods.

    “A lot of these islands are also pest free so checking your boat for any rodent stowaways and other unwanted pests is vital. Dogs are not permitted on islands managed by DOC as they disturb or threaten wildlife.’’

    There is a total fire ban on conservation islands in Northland. Anyone who lights an unauthorised fire could face up to two years’ imprisonment or a fine of up to $200,000, plus the costs of the damage and putting out the fire.

    Contact

    For media enquiries contact:

    Email: media@doc.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Brunei Darussalam

    Source: New Zealand Ministry of Foreign Affairs and Trade – Safe Travel

    • Reviewed: 18 November 2022, 09:26 NZDT
    • Still current at: 17 October 2024

    Related news features

    If you are planning international travel at this time, please read our COVID-19 related travel advice here, alongside our destination specific travel advice below.

    Exercise increased caution in Brunei Darussalam (level 2 of 4).

    Brunei Darussalam

    Crime
    Petty crime such as theft and burglary can occur in Brunei Darussalam. We advise New Zealanders to be alert to their surroundings at all times and take steps to safeguard and secure their personal belongings.

    Civil unrest
    Civil unrest is extremely rare in Brunei Darussalam, but protests and demonstrations could have the potential to result in violence. We advise monitoring local media and following any instructions from local authorities.

    General travel advice
    New Zealanders in Brunei Darussalam are strongly advised to familiarise themselves with and observe local laws and customs, which can be very different to New Zealand. This includes in relation to alcohol and tobacco, and public expression of political views.

    Brunei Darussalam has a dual legal system with both civil law and syariah (sharia) law. Both laws include provisions for corporal and capital punishments. Penalties for possession, use or trafficking of illegal drugs are severe and can include the death penalty, physical punishment, and lengthy imprisonment.

    Further information about the Syariah Penal Code can be found on Brunei Darussalam’s Attorney General’s Chambers website. A non-exhaustive list of illegal activities under syariah law includes blasphemy, sodomy, and adultery. Syariah law applies to Muslims, non-Muslims, and foreigners.

    New Zealanders are advised to respect religious, social and cultural traditions in Brunei Darussalam to avoid offending local sensitivities (including around members of the Royal Family and during religious occasions). Modesty and discretion should be exercised in both dress and behaviour.

    New Zealanders travelling or living in Brunei Darussalam should have a comprehensive travel insurance policy in place that includes provision for medical evacuation by air.

    New Zealanders in Brunei Darussalam are encouraged to register their details with the Ministry of Foreign Affairs and Trade.

    The New Zealand High Commission Kuala Lumpur, Malaysia is accredited to Brunei Darussalam

    Street Address Level 21, Menara IMC, 8 Jalan Sultan Ismail, Kuala Lumpur 50250 Telephone +60 3 2078 2533 Fax +60 3 2078 0387 Email klinfo@mfat.govt.nz Web Site http://www.mfat.govt.nz/malaysia Hours Mon-Fri 0830am to 1230 hrs (reception); Mon-Thurs 0800-1630 hrs, Fri 0800-1600 hrs (telephone enquiries and pre-arranged appointments)

    See our regional advice for South East Asia

    Top of page

    MIL OSI New Zealand News –

  • MIL-OSI Security: Connecticut Fisherman Sentenced for Tax Evasion

    Source: United States Attorneys General

    A Connecticut man was sentenced today to one year and one day in prison for evading taxes on income he earned from commercial fishing in Massachusetts.

    According to court documents and statements made in court, Brian Kobus, of Durham, worked as a commercial fisherman and deckhand for various fishing companies in Massachusetts. After each fishing trip, the companies paid Kobus by check. Despite receiving over $1.2 million in fishing income between 2011 through 2013, and 2017 through 2021, Kobus never filed a federal income tax return or paid the taxes that he owed. To conceal the source and disposition of his income from the IRS, Kobus regularly cashed his paychecks from the fishing companies and used the cash to fund his personal lifestyle.

    In total, Kobus caused a tax loss to the IRS of approximately $377,839.90.

    In addition to his prison sentence, U.S. District Court Judge Nathaniel M. Gorton for the District of Massachusetts ordered Kobus to serve one year of supervised release and to pay $377,839.90 in restitution to the United States.

    Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and Acting U.S. Attorney Joshua S. Levy for the District of Massachusetts made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorney Matthew L. Cofer of the Tax Division and Assistant U.S. Attorney Victor Wild for the District of Massachusetts prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: Leaders of Dangerous Mexican Drug Cartel Responsible for Extreme Violence Charged with International Drug Trafficking and Firearms Offenses

    Source: United States Attorneys General 7

    Note: View the fifth superseding indictment here.

    An indictment was unsealed in the District of Columbia charging leaders of the violent drug trafficking organization known as Los Zetas, and its successor organization, Cartel del Noreste (CDN), with engaging in a continuing criminal enterprise; drug trafficking conspiracy; firearms offenses; and international money laundering conspiracy.

    According to the indictment, Miguel Trevino Morales, 51, also known as Z-40, and his brother, Omar Trevino Morales, 48, also known as Z-42, allegedly assumed control of Los Zetas after more than a decade as members of the violent drug trafficking organization. Los Zetas previously served as an armed militaristic wing for the Gulf Cartel to maintain control of drug trafficking routes throughout Mexico. Since becoming leaders of Los Zetas in 2012, which they later renamed the Cartel del Noreste, the defendants have allegedly continued its history and pattern of using extreme violence to control large swaths of Northern Mexico, including along the U.S. border. Based on allegations in the indictment, Miguel and Omar Trevino Morales were incarcerated in Mexico in 2013 and 2015, respectively, but continued to control the CDN through various means, including by installing various family members to run operations at their behest. Miguel and Omar Trevino Morales are alleged to be personally responsible for committing dozens of murders and for directing assassinations, kidnappings, and acts of torture by Los Zetas and CDN members to promote and protect the Cartel’s drug trafficking activities and enrich its members.

    “As alleged in the indictment, the defendants ran a transnational drug trafficking organization that was responsible for committing extreme violence and trafficking massive quantities of narcotics into the United States,” said Principal Deputy Assistant Attorney General Nicole Argentieri, head of the Justice Department’s Criminal Division. “The Justice Department is committed to holding cartel leaders like the defendants accountable for poisoning American communities and fueling violence here and abroad. We are also committed to working with our domestic and international colleagues in this effort, and we are grateful to our Mexican law enforcement partners for their ongoing collaboration in this case.”

    “This superseding indictment underscores the Justice Department’s commitment to pursuing the leaders of the world’s most dangerous drug cartels, no matter how long it takes,” said U.S. Attorney Breon Peace for the Eastern District of New York. “The defendants’ prolific crimes and extreme acts of violence have wreaked havoc in the Eastern District of New York and across the country, and we look forward to holding the defendants accountable in a U.S. court of law.”

    “For decades, these individuals have controlled one of the most violent drug organizations in Mexico, committing and directing the commission of horrible atrocities against our neighbors, the people of Mexico, and also in the United States,” said U.S. Attorney Jaime Esparza for the Western District of Texas. “Nothing is more important than bringing dangerous individuals like this to justice. We look forward to working with the government of Mexico in bringing these brutal Cartel leaders to justice for the numerous crimes they have committed.”

    “Homeland Security Investigations (HSI) stands with our partners in the fight against transnational criminal organizations to protect our citizens from their unlawful actions,” said HSI Executive Associate Director Katrina W. Berger. “The harm caused by the Los Zetas cartel reaches well beyond our borders, hurting communities and ruining lives here in the United States.”

    “For decades, Los Zetas operated as one of the most violent drug trafficking organizations in the United States and Mexico under the direction of brothers Miguel (Zeta 40) and Omar Trevino Morales (Zeta 42),” said Special Agent in Charge Daniel C. Comeaux of the Drug Enforcement Administration (DEA) Houston Field Division. “The DEA has never wavered from the global fight against this vicious, ruthless cartel which thrived on the devastation they imparted on American communities. Through countless investigations, DEA brought high-ranking members of this destructive organization to justice. These latest indictments will continue to cripple this violent organization and force them to release the stranglehold they have exerted along the southwest border of the United States.”

    If convicted, the defendants face a maximum penalty of life in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The DEA Houston Division investigated the case, with assistance from the DEA Mexico City Country Office. HSI New York contributed substantially to the investigation, as did the following: DEA San Antonio Division, DEA Eagle Pass Division, DEA Del Rio Division, DEA Laredo Division, DEA New York Division, FBI Washington Field Office, FBI El Paso Field Office, FBI San Antonio Field Office, FBI Laredo Field Office, FBI Del Rio Field Office, HSI San Antonio, HSI Del Rio, HSI Laredo, Texas Department of Public Safety, Texas Rangers, San Antonio Police Department, Bexar County Sherriff’s Office, Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) San Antonio Field Division, ATF Laredo Field Division, IRS Criminal Investigation (IRS-CI) San Antonio, IRS-CI Waco, and the U.S. Border Patrol.

    The Justice Department’s Office of International Affairs and Criminal Division’s Office of Enforcement Operations provided significant assistance in this case.

    Trial Attorneys Kirk Handrich and Tara Arndt of the Criminal Division’s Narcotic and Dangerous Drug Section, numerous prosecutors for the Western District of Texas, and Assistant U.S. Attorney Andrew Wang for the Eastern District of New York are prosecuting the case.

    This case is part of an Organized Crime and Drug Enforcement Task Force (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI Banking: Phillips 66 provides notice of its plan to cease operations at Los Angeles-area refinery

    Source: Phillips

    Facility expects to cease operations in the fourth quarter of 2025
    Company will work with the state of California to supply fuel markets and meet ongoing consumer demand

    HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE: PSX) announced plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025 and will work with the state of California to supply fuel markets and meet ongoing consumer demand.
    “We understand this decision has an impact on our employees, contractors and the broader community,” said Mark Lashier, chairman and CEO of Phillips 66. “We will work to help and support them through this transition.” Approximately 600 employees and 300 contractors currently operate the Los Angeles-area refinery.
    “With the long-term sustainability of our Los Angeles Refinery uncertain and affected by market dynamics, we are working with leading land development firms to evaluate the future use of our unique and strategically located properties near the Port of Los Angeles,” said Lashier. “Phillips 66 remains committed to serving California and will continue to take the necessary steps to meet our commercial and customer demands.”
    As the California Energy Commission’s analysis has indicated, expanding supply capabilities will be critical. Phillips 66 supports these efforts and will work with California to maintain current levels and potentially increase supplies to meet consumer needs. The company will supply gasoline from sources inside and outside its refining network as well as renewable diesel and sustainable aviation fuels from its Rodeo Renewable Energy Complex in the San Francisco Bay area.
    Phillips 66 has engaged Catellus Development Corporation and Deca Companies, two leading real estate development firms, to evaluate the future use of the 650-acre sites in Wilmington, California, and Carson, California. The firms bring strong track records of solving complex redevelopment challenges and will collaborate with Phillips 66 in an advisory role to advance potential commercial development options that support the regional economy and other key stakeholder objectives.
    “These sites offer an opportunity to create a transformational project that can support the environment, generate economic development, create jobs and improve the region’s critical infrastructure,” Lashier said.
    About Phillips 66
    Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.
    CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
    This news release contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66’s operations. Words such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies or laws that relate to our operations, including regulations that seek to limit or restrict refining, marketing and midstream operations or regulate profits, pricing, or taxation of our products or feedstocks, or other regulations that restrict feedstock imports or product exports; our ability to timely obtain or maintain permits necessary for projects; fluctuations in NGL, crude oil, refined petroleum, renewable fuels and natural gas prices, and refining, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum or renewable fuels products; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; unexpected changes in costs for constructing, modifying or operating our facilities; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition or conversion that we may pursue; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments, including armed hostilities (such as the Russia-Ukraine war), expropriation of assets, and other diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

    Source: Phillips 66

    MIL OSI Global Banks –

  • MIL-OSI Economics: Thales demonstrates its capacity to deploy drone swarms with unparalleled levels of autonomy using AI

    Source: Thales Group

    Headline: Thales demonstrates its capacity to deploy drone swarms with unparalleled levels of autonomy using AI

    • On 16 October 2024, in the first flight tests of their kind, Thales demonstrated the potential of deploying swarms of drones with different levels of autonomy. Autonomous functionality optimised by Artificial Intelligence (AI) and intelligent agents reduces the cognitive load on operators yet ensures that they remain in control at all times, particularly during critical mission phases.
    • In this latest step in its Drone Warfare strategy, Thales and its partners are applying the principles of interoperability and integration to improve the coordination of drone swarms for deployment on a wide range of mission types.
    • To meet the requirements of the armed forces, Thales is proposing an innovative AI-based system architecture that provides drone swarms with an unparalleled level of supervised autonomy and enables them to adapt their behaviour to changing operational requirements.

    The operational value of drones on the battlefield is now firmly established, but their effectiveness is still limited by two factors: they usually require one operator per drone, and a secure, resilient datalink must be available throughout the mission. Flight tests organised for the JDEC (1) demonstrations on 16 October 2024 turned the spotlight on the latest breakthroughs by Thales and its partners in their efforts to overcome these limitations and support drone swarm operations tailored to military requirements. In the tests, Thales’s COHESION demonstrator showed how AI and intelligent agents can be used to achieve an unparalleled level of autonomous operation in drone swarm deployments.

    The system architecture of the COHESION demonstrator enables operators to adapt the level of autonomy of their drone swarms to the operational requirements of each phase of the mission. This new possibility offers an unprecedented level of flexibility in contested environments, where electronic warfare measures can saturate communication systems and jam datalinks that rely on GNSS signals. Autonomous operation by single drones and/or entire swarms overcomes the need for a permanent datalink with the control station. The drones are capable of perceiving and analysing their local environment, sharing target information, analysing enemy intent and prioritising missions. They can also utilise collaborative tactics and optimise their trajectories to increase resilience and boost force effectiveness, helping to accelerate the OODA(2) loop and enhance battlefield transparency.

    This innovative approach acts as a force multiplier without increasing the cognitive load on operators, who remain in charge of the most critical decisions. The use of trusted, cybersecure, human-in-the-loop AI guarantees safe human supervision at all times, in line with Thales’s principles of TrUE AI (3).

    “We are proud to be developing innovative solutions aligned with strong ethical values. Our solutions are demonstrable, applicable, incremental and deployable, acting as a force multiplier without increasing the cognitive burden on operators, yet guaranteeing that they retain their central role in the decision-making process.” Hervé Dammann, Executive Vice President, Land and Air Systems, Thales

    Positioned as a systems provider and integrator, Thales has developed its Drone Warfare offering to accelerate interoperability between a wide range of land, airland, air and naval platforms. The Group is also a key player in an ecosystem of French industries and tech companies working to expand the capabilities of front-line drones in the theatre of operations.

    • In June 2023, Thales unveiled OpenDRobotics, a revolutionary AI-based solution that ties together robotics technologies and different types of unmanned air and ground-based assets to build complete human-in-the-loop mission systems.
    • Thales is also an established manufacturer of unmanned air systems: its Spy’Ranger 330 system, for example, has been selected for the French Army’s SMDR (4) programme.
    • Thales’s acquisition of Aeromapper in 2024 has expanded its range of drone products to include the TOUTATIS loitering munition.

    In March 2024, Thales created cortAIx to speed development of trusted AI for critical systems. Among its short-term objectives, cortAIx aims to integrate and industrialise AI development tools to enable the armed forces to optimise analysis of the data generated by sensors and decision support solutions while addressing the specific cybersecurity, embeddability and frugality requirements of systems operating in constrained environments.

    1JDEC: Journée de Démonstrations d’Essaims de Drones de Contact / Front-line drone swarm demonstrations

    2OODA: Observe, Orient, Decide, Act

    3TrUE AI: Transparent, Understandable, Ethical AI

    4SMDR: Système de Mini-Drones de Reconnaissance / mini-drone system for reconnaissance missions

    MIL OSI Economics –

  • MIL-OSI Economics: ESA orders 6 additional radar-based satellites to Thales Alenia Space for IRIDE Earth observation constellation

    Source: Thales Group

    Headline: ESA orders 6 additional radar-based satellites to Thales Alenia Space for IRIDE Earth observation constellation

    This new batch of radar satellites will also be based on the innovative and scalable NIMBUS (New Italian Micro Bus) platform

    • This new contract strengthens Thales Alenia Space’s engineering and industrial capabilities in making innovative and flexible observation satellites
    • IRIDE to provide dual Earth observation capabilities to monitor the Italian territory and Europe from space
    • With this new contract, Thales Alenia Space will build a total of 13 satellites for IRIDE constellation: 12 small-sized satellites based on SAR (Synthetic Aperture Radar) technology and 1 satellite based on optical technology.

    Milan, October 16th, 2024 –Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has signed a 107-Million-Euro contract with the European Space Agency (ESA) for the supply of 6 additional radar-based satellites dedicated to the Italian Earth observation constellation, IRIDE.

    This second batch of satellites, as the previous batch of six, will rely on the innovative and scalable NIMBUS (New Italian Micro Bus) platform. Built by Thales Alenia Space, the high-performance NIMBUS will be produced rapidly and is designed for high-revisit and high-capacity constellations in addition to very high throughput.

    IRIDE ©Thales Alenia Space

    For the Italian Earth Observation Constellation IRIDE, Thales Alenia Space will build a total of 13 satellites: 12 small-sized satellites based on SAR (Synthetic Aperture Radar) technology and 1 satellite based on optical technology.

    “I would like to thank the European and Italian Space Agencies for once again entrusting Thales Alenia Space’s competences and expertise,” said Giampiero Di Paolo, Senior Vice President Observation, Exploration and Navigation for Thales Alenia Space. “Leveraging our experience onbaord major Earth observation programs, we are ready to reinforce our capabilities in the small satellite segment. Based on a series of sensing instruments and technologies, the IRIDE constellation will range from microwave imaging with radar sensors to optical imaging at various spatial resolutions and in different frequency ranges, making it a cutting-edge space program in Earth Observation. The radar technology on board this program will be a crucial pillar of our ALL-IN-ONE Earth observation solution, which effectively combines optical and radar small satellites to ensure high revisit frequency and control for near real-time monitoring.”

    About IRIDE Earth observation constellation:

    IRIDE is one of the most important European space programs in the field of Earth Observation. It is a government project funded as part of Italy’s National Recovery and Resilience Plan (PNRR), complemented by funding from the National Integration Plan (PNC). IRIDE is a constellation of satellites, operational by 2026, managed by the European Space Agency (ESA) in conjunction with the Italian Space Agency (ASI).

    IRIDE features a hybrid constellation of different satellites with dedicated Earth observation sensors; this end-to-end system comprises a series of low Earth orbit (LEO) satellite sub-constellations, ground infrastructures (downstream) and services dedicated to the Italian Public Administration.

    Thales Alenia Space’s responsibility in the program:

    Thales Alenia Space will contribute to the achievement of this innovative constellation of satellites that feature sophisticated operating modes to support high revisit rates, providing data that can be integrated with that from other existing or future programs and infrastructures, including COSMO-SkyMed Second Generation and Prisma, as well as Europe’s vast Copernicus Earth observation and protection program.

    Thales Alenia Space will further contribute to the constellation by supplying an optical satellite with a performance tailored to its needs. Built on the platform NIMBUS, the optical payload is developed by the Italian companies Media Lario and TSD-space, specialized in the creation of instruments and electronics for space.

    The satellites will be built in Italy under the responsibility of Thales Alenia Space and thanks to the contribution of the entire supply chain of SMEs in the space sector. They will provide valuable data not only to researchers studying the evolution of the environmental conditions of Italy but also to the Civil Protection and other Public Administrations to protect coasts, monitor critical infrastructures, air quality and weather conditions. IRIDE’s data will be of paramount importance. This data will allow the development of commercial applications by start-ups, small and medium-sized enterprises and industries in the geospatial sector.

    ABOUT THALES ALENIA SPACE

    Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023. Thales Alenia Space has around 8,600 employees in 9 countries, with 16 sites in Europe and a plant in the US.

    http://www.thalesaleniaspace.com

    THALES ALENIA SPACE – PRESS CONTACTS

    Tarik Lahlou
    Tel: +33 (0)6 87 95 89 56
    tarik.lahlou@thalesaleniaspace.com

    Catherine des Arcis
    Tel: +33 (0)6 78 64 63 97
    catherine.des-arcis@thalesaleniaspace.com

    Cinzia Marcanio

    Tel.: +39 (0)6 415 126 85
    cinzia.marcanio@thalesaleniaspace.com

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon to grant $73K to DC-area Latino-serving orgs, host panel, take headshots at networking event

    Source: Verizon

    Headline: Verizon to grant $73K to DC-area Latino-serving orgs, host panel, take headshots at networking event

    ROCKVILLE, Md. – Celebrating $73,300 in new Verizon donations to local Latino-serving organizations that boost workforce development, digital inclusion and small businesses, the company will host its second Washington, D.C.-area “Connected By Culture” event Oct. 17 at the Verizon store at 1701 Rockville Pike in Rockville, Md.

    With a theme of “Innovadores del Futuro – Empowering Rising Latino Community Tech Leaders,” the Oct. 17 event will connect community members with career and networking opportunities from 3 to 6 p.m. In the spirit of the recently concluded Hispanic Heritage Month (Sept. 15 through Oct. 15), the celebration reinforces Verizon’s year-round dedication to and investment in the Latino community, as it follows comparable “Connected By Culture” celebrations held earlier this year in D.C., Philadelphia, Chicago, New York City and Boston.

    The Oct. 17 “Connected By Culture” event will feature top leaders – many of whom are from Maryland – supporting the next generation of Latino community leaders pursuing careers in tech and entrepreneurship; offer free professional headshots; foster networking opportunities; highlight ongoing Verizon initiatives that bolster the community; and stage a performance showcasing a Baila4Life dance ensemble.

    Starting at 5 p.m., a workforce development panel discussion will feature insights from influential leaders in the Latino community, including Adriana Dawson, Community Engagement Director, Verizon; Cristina Oviedo, Howard County Liaison, Maryland Hispanic Chamber of Commerce; Francisco Cartagena, Program Manager, Bowie State University Women’s Center; Frank Chambergo, Part-Time Faculty, IgnITe Hub, Montgomery College; and Leo Hernandez, Small Business Development Manager, Latino Economic Development Center.

    “Verizon’s ‘Connected By Culture’ event series highlights the impactful contributions of Latino leaders and their organizations helping to move our communities forward, and our next event in Rockville does just that while celebrating the local Latino community,” said Mario Acosta Velez, a Senior Director of Local Engagement and Responsible Business for Verizon. “This serves as a testament of our commitment to serve our customers, communities and partners with pride and culture.”

    “As we continue to foster innovation and business growth in Maryland, it is essential that we create pathways for the next generation of Hispanics/Latinos,” said Marco V Ávila, P.E. President/CEO & Chairman of the Board, Maryland Hispanic Chamber of Commerce. “Verizon’s ‘Connected By Culture’ series not only provides immediate opportunities but also helps to build a stronger, more inclusive future for Hispanics/Latinos in technology and entrepreneurship across the state of Maryland.”

    Verizon’s $73,300 in combined donations renew or establish partnerships with six local Latino-serving organizations: Maryland Hispanic Chamber of Commerce, the Latino Economic Development Center, ignITe Hub Montgomery College, Baila4Life, Latin American Youth Center and the Maryland Women’s Business Center.

    Aligning with Verizon’s responsible-business plan, the Connected By Culture series reinforces Verizon’s continuing commitment to workforce development, including the Verizon Skill Forward program, which provides access to free skills building online courses. With no prior experience or college degree required, Verizon Skill Forward participants can access self-paced, expert-led free online courses designed by universities and industry experts for one year, including dedicated courses in Spanish.

    MIL OSI Economics –

  • MIL-OSI Economics: Burkina Faso formally accepts Agreement on Fisheries Subsidies

    Source: World Trade Organization

    Director-General Okonjo-Iweala said: “I am delighted that Burkina Faso has formally accepted the Agreement on Fisheries Subsidies. As a landlocked, least-developed country, Burkina Faso’s commitment underscores the vital role that all WTO members must play in advancing this Agreement closer towards entry into force to foster sustainable global fisheries worldwide for the benefit of all people’s livelihoods and food security. I hope more members swiftly follow suit.”

    Minister Traoré said: “Burkina Faso’s ratification of the Agreement on Fisheries Subsidies is testimony to the emphasis our country places on honouring its international commitments, in this case its WTO commitments. The significance of an international commitment promoting the sustainability of oceans and their resources, which benefit all — irrespective of geographical location — cannot be overstated”

    “Moreover, we wish to see implementation of this Agreement benefiting all countries, including landlocked ones, through technical capacity-building of stakeholders in the fisheries sector. We are pinning our hopes on the effectiveness of this Agreement in all its dimensions.”

    Burkina Faso’s instrument of acceptance brings to 85 the total number of WTO members that have formally accepted the Agreement. Seventeen African members have formally accepted the Agreement, of which nine are least-developed countries. Twenty-six more formal acceptances are needed for the Agreement to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.

    Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12), held in Geneva on 12-17 June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks. In addition, the Agreement recognizes the needs of developing economies and least-developed countries and establishes a fund to provide technical assistance and capacity building to help them implement the obligations.

    The Agreement prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.

    Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to adopting additional provisions that would further enhance the disciplines of the Agreement.

    The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.

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    MIL OSI Economics –