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  • MIL-OSI: Alto’s Magic Valley Facility Production Rate Consistently Achieving Full Capacity

    Source: GlobeNewswire (MIL-OSI)

    PEKIN, Ill., Oct. 15, 2024 (GLOBE NEWSWIRE) — Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols, renewable fuel and essential ingredients, provided updates on its Magic Valley facility in Idaho where it has installed Harvesting Technology’s patented system to capture its high protein and corn oil products.

    For October to date, the new equipment and system modifications to improve capacity at the Magic Valley facility are delivering the following metrics:

    • Average renewable fuel production rates at full production capacity while operating the high protein and corn oil technology systems;
    • Protein content at 50% or greater, with improved protein production yields of over three pounds per bushel, diversifying the facility’s product mix with a higher margin offering; and
    • Corn oil yields are improving and are expected to increase further as Alto continues aligning systems and operations.

    Alto Ingredients CEO Bryon McGregor said, “We are proud of our team’s hard work and tenacity in integrating the necessary design changes to achieve these production milestones. We expect our improved output to contribute to Magic Valley’s bottom line results. We have begun marketing our new high protein products and anticipate sales from associated products to ramp up in the fourth quarter of 2024.”

    About Alto Ingredients, Inc.
    Alto Ingredients, Inc. (NASDAQ: ALTO) is a leading producer and distributor of specialty alcohols, renewable fuel and essential ingredients. Leveraging the unique qualities of its facilities, the company serves customers in a wide range of consumer and commercial products in the Health, Home & Beauty; Food & Beverage; Industry & Agriculture; Essential Ingredients; and Renewable Fuels markets. For more information, please visit http://www.altoingredients.com.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

    Statements and information contained in this communication that refer to or include Alto Ingredients’ estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Alto Ingredients’ current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “should,” “estimate,” “expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “project,” or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning renewable fuel production rates and potential increases in sales of, or product margins or profits deriving from, corn oil and high protein products at Alto Ingredients’ Magic Valley facility; and Alto Ingredients’ other plans, objectives, expectations and intentions. It is important to note that Alto Ingredients’ plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients’ current expectations depending upon a number of factors affecting Alto Ingredients’ business and plans. These factors include, among others, Alto Ingredients’ ability to continue to achieve current renewable fuel production rates at its Magic Valley facility into the future and to achieve anticipated higher sales, margins and profits from its corn oil and high protein products at the Magic Valley facility in the fourth quarter of 2024; adverse economic and market conditions, including for renewable fuels, specialty alcohols and essential ingredients, including high protein and corn oil products; export conditions and international demand for the company’s products; fluctuations in the price of and demand for oil and gasoline; raw material costs, including production input costs, such as corn and natural gas; adverse impacts of inflation and supply chain constraints. These factors also include, among others, the inherent uncertainty associated with financial and other projections and the operation of new large-scale capital projects; the anticipated size of the markets and continued demand for Alto Ingredients’ products; the impact of competitive products and pricing; the risks and uncertainties normally incident to the alcohol production, marketing and distribution industries; changes in generally accepted accounting principles; successful compliance with governmental regulations applicable to Alto Ingredients’ facilities, products and/or businesses; changes in laws, regulations and governmental policies; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Alto Ingredients’ filings with the Securities and Exchange Commission including, specifically, those factors set forth in the “Risk Factors” section contained in Alto Ingredients’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.

    Media and Company IR Contact:                 
    Michael Kramer, Alto Ingredients, Inc., 916-403-2755
    Investorrelations@altoingredients.com

    IR Agency Contact:
    Kirsten Chapman, LHA Investor Relations, 415-433-3777
    Investorrelations@altoingredients.com

    The MIL Network –

  • MIL-OSI: Banzai Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Oct. 15, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.

    MZ Group will work closely with Banzai’s management team to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight that Banzai is consolidating mission-critical, sub-scale marketing technology (MarTech) products to build a data-driven platform of solutions that seamlessly integrate out of the box. The company’s award-winning products capitalize on economies of scale and complementary customer bases to maximize cross-selling opportunities and grow recurring revenue.

    MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts, and private investors and maintains offices worldwide. Chris Tyson, Executive Vice President at MZ North America, along with Directors Larry Holub and Brooks Hamilton, will advise Banzai’s investor relations team in all facets of investor relations including, but not limited to, the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.

    Chris Tyson commented: “The MarTech market continues to expand, with Banzai’s total available market expected to grow to $39.4 billion by 2026 at a CAGR of 11.8%, according to the Winterberry Group. At the same time, companies and marketers are struggling with the explosion of SaaS vendors. According to a Netskope Cloud Report, enterprises use an average of over 120 marketing tools for their daily operations, leading to disjointed customer experiences and messy data. Customer data specifically remains a challenge for marketers, with 70% of marketing analytics consumers agreeing that access to unified customer data is a major barrier to the success of marketing analytics as reported in a 2022 Gartner® Marketing Data and Analytics Survey. With AI continuing to eat away at marketing, companies need to deliver more growth with less resources, and solutions that integrate seamlessly. Banzai gives marketers the data, analytics, and integrated applications they need to win. With over 11,000 MarTech vendors, Banzai has established a clear acquisition strategy with well-defined evaluation and success criteria to capitalize on a major consolidation opportunity in the industry. Banzai’s M&A strategy, taken together with its recurring revenue model, high profit margins, and significant operating leverage combined with rapid growth, presents an exciting story to share with our network of institutional, family offices and retail investors.”

    Brooks Hamilton added: “Customers including Cisco, Sprinklr, Globe Life Insurance, and LoanDepot praise Banzai’s award-winning products for their user-friendly interfaces and powerful features that get content in front of target audiences. Its AI-driven Reach solution identifies ideal customer profiles (ICP) from a database of over 379 million verified contacts and deploys multi-channel outbound campaigns directly to them. Demio is the top webinar and virtual event platform for marketers, built with powerful engagement features designed to elevate audience interactions and transform webinars into interactive experiences. Building on this success, Banzai is developing and acquiring mission-critical MarTech solutions across three functions, to create a family of seamlessly integrated solutions for customers. Banzai’s acquisition evaluation playbook is focused on growth and profitability profile, and strategic cross-sale potential. Successful new integrations will provide customer retention, expansion, efficiency, and growth.”

    “Our ability to leverage deep analytics and insights to drive marketing decisions has led to the addition of 1,434 customers through August 2024,” said Joe Davy, CEO of Banzai. “This includes 981 new customers and 453 reactivating customers, highlighting our strong organic growth and customer loyalty. Customer adoption has been driven by improvements to both our Demio product and our customer acquisition efficiency. We currently serve nearly 3,000 customers, presenting a great opportunity for continued expansion of our customer base as we execute our planned acquisition strategy and seek new opportunities for inorganic expansion.

    “We have taken key steps very recently to improve our overall financial position having entered into restructuring agreements totaling $28.8 million in reduced and restructuring liabilities, with participation from company insiders. In tandem with the $5 million private placement that we recently closed, we are well positioned to execute on our growth initiatives. We look forward to working with the team at MZ Group to communicate our exciting product releases, business milestones and other announcements in the weeks and months ahead,” concluded Davy.

    For more information on Banzai, please visit http://www.banzai.io. To schedule a conference call with management, please email your request to BNZI@mzgroup.us or call Chris Tyson at 949-491-8235.

    About MZ

    MZ North America is the US division of MZ Group, a global leader in investor relations with over 250 employees, 800 clients across 12 different exchanges. For over 25 years, MZ has implemented award winning programs and developed a reputation for delivering tangible results for public and private companies via strategic communications, industry-leading investor outreach, public relations, a market intelligence desk, and a suite of technology solutions, spanning websites, conference call/webcasting, video production and XBRL/Edgar filing services. MZ maintains a global footprint with professionals located throughout every time zone in North America, as well as Taipei and São Paulo. For more information, please visit http://www.mzgroup.us.

    About Banzai

    Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at http://www.banzai.io. For investors, please visit https://ir.banzai.io.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    http://www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network –

  • MIL-OSI: Expion360 to Present at the LD Micro Main Event XVII Conference on Tuesday October 29, 2024

    Source: GlobeNewswire (MIL-OSI)

    REDMOND, Ore., Oct. 15, 2024 (GLOBE NEWSWIRE) — Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, will attend the LD Micro Main Event XVII Conference being held at the Luxe Sunset Blvd Hotel in Los Angeles, CA October 29 – 30, 2024.

    Expion360 Chief Executive Officer Brian Schaffner will conduct in-person one-on-one meetings during the conference to discuss its new products and technologies initiatives, including its Home Energy Storage Solutions, and expanding partnerships with Recreational Vehicle OEMs. Mr. Schaffner will also host a presentation which can be viewed live and via replay at the webcast registration link below and will also be available on the Expion360 investor relations website at investors.expion360.com.

    LD Micro Main Event XVII
    Date: October 29 – 30, 2024
    Location: Luxe Sunset Blvd Hotel, Los Angeles, CA
    Presentation Time: Tuesday, October 29, 2024, at 3:00 pm PT/6:00 pm ET in Track 4
    Webcast Registration: https://me24.sequireevents.com/
    Speaker: CEO Brian Schaffner
    Format: In-person 1×1’s and Presentations
    Conference Website: Click here

    For more information on the LD Micro Main Event XVII Conference or to schedule a one-on-one meeting with Expion360 management, please contact your conference representative or you may also email your request to XPON@mzgroup.us or call Chris Tyson at (949) 491-8235.

    For more information about Expion360 and its range of products, please visit http://www.expion360.com.

    About Expion360

    Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On December 19, 2023, the Company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages.

    The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.

    The Company is headquartered in Redmond, Oregon. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the Company, visit expion360.com.

    Forward-Looking Statements and Safe Harbor Notice

    This press release contains certain 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, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are “forward-looking statements” and should be evaluated as such. Examples of such forward-looking statements include statements that use forward-looking words such as “projected,” “expect,” “possibility,” “believe,” “aim,” “goal,” “plan,” and “anticipate,” or similar expressions. Forward-looking statements included in this press release include, but are not limited to, statements relating to the Company’s beliefs about its customer base and market opportunity. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements.

    Company Contact:
    Brian Schaffner, CEO
    541-797-6714
    Email Contact

    External Investor Relations:
    Chris Tyson, Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    XPON@mzgroup.us
    http://www.mzgroup.us

    The MIL Network –

  • MIL-OSI: ETC Announces Fiscal 2025 Second Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    SOUTHAMPTON, Pa., Oct. 15, 2024 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported its financial results for the thirteen week period ended August 23, 2024 (the “2025 fiscal second quarter”) and the twenty-six week period ended August 23, 2024.

    Robert L. Laurent, Jr., ETC’s Chief Executive Officer and President stated, “We are pleased with the overall 56% increase in 2025 fiscal second quarter sales vs. prior year, as well our improvements in gross margin, operating margin and our $2.1 million increase in net income in the 2025 fiscal second quarter versus the prior year. We ended the 2025 fiscal second quarter with a backlog of $109 million. The large backlog positions us well moving forward.”

    2025 Fiscal Second Quarter Results of Operations

    Net Income (Loss)

    Net income was $1.7 million, or $0.09 earnings per diluted share, in the 2025 fiscal second quarter, compared to net loss of ($0.4) million during the 2024 fiscal second quarter, equating to ($0.04) earnings per diluted share. The $2.1 million variance is due primarily to increased sales and improved gross profit margin.

    Net Sales

    Net sales in the 2025 fiscal second quarter were $14.1 million, an increase of $5.1 million, or 56.2%, compared to 2024 fiscal second quarter net sales of $9.0 million. The increase in net sales was driven by a $4.3 million or 100.4% increase in ATS, a $0.4 million or 51.7% increase in ADMS and a $0.3 million or 10.5% increase in Sterilizer Systems net sales in 2025 fiscal second quarter compared to 2024 fiscal second quarter net sales.

    Gross Profit

    Gross profit for the 2025 fiscal second quarter of $4.2 million increased from $2.3 million in the 2024 fiscal second quarter, an increase of $1.9 million or 83.3%. Gross profit margin of 29.8% increased 4.4% in the 2025 fiscal second quarter compared to 25.4% in the 2024 fiscal second quarter. The increase in gross profit was due to higher net sales within the ATS, ADMS and Sterilizer Systems business units, along with an increased overhead absorption resulting from higher production levels.

    Operating Expenses

    Operating expenses, including sales and marketing, general and administrative, and research and development, for the 2025 fiscal second quarter were $2.2 million, a decrease of $0.1 million, or 6.1%, compared to $2.4 million for the 2024 fiscal second quarter. Operating expenses decreased due primarily to lower research and development expense for the 2025 fiscal second quarter as compared to the 2024 fiscal second quarter. The increase in sales and gross profit margin along with the decrease in operating expenses resulted in an improvement in operating margin from (-0.8%) in the 2024 second fiscal quarter to 14.0% in the 2025 fiscal second quarter.

    2025 Fiscal First Half Results of Operations

    Net Income (Loss)

    Net income was $3.1 million, or $0.17 earnings per diluted share, in the 2025 fiscal first half, compared to net loss of ($1.5) million during the 2024 fiscal first half, equating to ($0.11) earnings per diluted share. The $4.6 million variance is attributable to an increase in sales and improved gross profit margin.

    Net Sales

    Net sales in the 2025 fiscal first half were $27.6 million, an increase of $10.9 million, or 65.3%, compared to 2024 fiscal first half net sales of $16.7 million. The increase in net sales is primarily attributable to a $7.7 million or 106.8% increase in ATS 2025 fiscal first half net sales and a $3.2 million or 54.1% increase in sterilizer systems net sales in the 2025 fiscal first half as compared to the 2024 fiscal first half.

    Gross Profit

    Gross profit for the 2025 fiscal first half was $8.7 million compared to $4.1 million in the 2024 fiscal first half, an increase of $4.6 million, or 111.5%. Gross profit margin of 31.6% increased 6.9% in the 2025 fiscal first half compared to 24.7% in the 2024 fiscal first half. The increase in gross profit was primarily due to an increase in net sales and gross profit margin within the ATS and Sterilizer Systems business units.

    Operating Expenses

    Operating expenses, including sales and marketing, general and administrative, and research and development, for the 2025 fiscal first half were $5.2 million, an increase of $0.2 million, or 4.4%, compared to $5.0 million for the 2024 fiscal first half. The increase in operating expenses was primarily due to increased expense related to higher sales and personnel expense and general and administrative expense slightly offset by a decrease in research and development expense. The increase in sales and gross profit margin along with the decrease in operating expenses resulted in an improvement in operating margin from (-5.1%) in the 2024 fiscal first half to 12.8% in the 2025 fiscal first half.

    Interest Expense, Net

    Interest expense, net for the 2025 fiscal first half was $0.3 million compared to interest expense, net of $0.4 million for the 2024 fiscal first half, a favorable variance of $0.1 million. The favorable variance was primarily attributable to an increase in interest income included in the proceeds received related to the 2020 and 2021 Employee Retention Credits received in the 2025 first fiscal first half.

    Cash Flows from Operating, Investing, and Financing Activities

    During the 2025 fiscal first half, the Company used $2.1 million of cash from operating activities, due primarily from an increase in contract assets and reduction in accounts payable and contract liabilities, slightly offset by an increase in net income and a decrease in accounts receivable and prepaid expenses and other assets, as compared to using $5.9 million during the 2024 fiscal first half.

    Cash used for investing activities was $0.2 million during the 2025 and 2024 fiscal first half and primarily relates to funds used for capital expenditures on equipment and software development.

    The Company’s financing activities included borrowings of $1.6 million during the first half of fiscal 2025 under the Company’s credit facility as compared to borrowing $4.7 million of cash during the 2024 fiscal first half under the Company’s credit facilities.

    About ETC

    ETC was incorporated in 1969 in Pennsylvania. For over five decades, we have provided our customers with products, services, and support. Innovation, continuous technological improvement and enhancement, and product quality are core values that are critical to our success. We are a significant supplier and innovator in the following areas: (i) software driven products and services used to create and monitor the physiological effects of flight, including high performance jet tactical flight simulation, fixed and rotary wing upset prevention and recovery and spatial disorientation, and both suborbital and orbital commercial human spaceflight, collectively, Aircrew Training Systems (“ATS”); (ii) altitude (hypobaric) chambers; (iii) hyperbaric chambers for multiple persons (multiplace chambers); (iv) Advanced Disaster Management Simulators (“ADMS”); (v) steam and gas (ethylene oxide) sterilizer systems (“Sterilizer Systems” or “Sterilizers”); and (vi) environmental testing and simulation systems (“ETSS”).

    We operate in two primary business segments, Aerospace Solutions (“Aerospace”) and Commercial/Industrial Systems (“CIS”). Aerospace encompasses the design, manufacture, and sale of: (i) ATS products; (ii) altitude (hypobaric) chambers; (iii) hyperbaric chambers for multiple persons (multiplace chambers); and (iv) ADMS, as well as integrated logistics support (“ILS”) for customers who purchase these products or similar products manufactured by other parties. These products and services provide customers with an offering of comprehensive solutions for improved readiness and reduced operational costs. Sales of our Aerospace products are made principally to U.S. and foreign government agencies and to civil aviation organizations. CIS encompasses the design, manufacture, and sale of: (i) steam and gas (ethylene oxide) sterilizer systems; and (ii) ETSS; as well as parts and service support for customers who purchase these products or similar products manufactured by other parties. Sales of our CIS products are made principally to the healthcare, pharmaceutical, and automotive industries.

    ETC-PZL Aerospace Industries Sp. z o.o. (“ETC-PZL”), our 100%-owned subsidiary in Warsaw, Poland, is currently our only operating subsidiary. ETC-PZL manufactures certain simulators and provides software to support products manufactured domestically within our Aerospace segment.

    The majority of our net sales are generated from long-term contracts with U.S. and foreign government agencies (including foreign military sales (“FMS”) contracted through the U.S. Government) for the research, design, development, manufacture, integration, and sustainment of ATS products, including Chambers and the simulators manufactured and sold through ETC-PZL, collectively, ATS. The Company also enters into long-term contracts with domestic customers for the sale of sterilizers and ETSS. Net sales of ADMS are generally much shorter term in nature and vary between domestic and international customers. We generally provide our products and services under fixed-price contracts.

    ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC’s headquarters is located in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

    ______________

    Forward-looking Statements

    This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

    – Financial Tables Follow –

    Table A                
    Environmental Tectonics Corporation
    Summary Table of Results
    (in thousands, except per share information) 
    (unaudited) 
                       
        Thirteen weeks ended   Variance  
        August 23, 2024
    		     August 25, 2023
    		     ($)   (%)  
    Net sales $ 14,083     $ 9,016     $ 5,067     56.2    
    Cost of goods sold   9,886       6,726       3,160     47.0    
    Gross Profit   4,197       2,290       1,907     83.3    
      Gross profit margin %   29.8%       25.4%       4.4%     17.3%    
                       
    Operating expenses   2,219       2,364       (145 )   -6.1    
    Operating income (loss)   1,978       (74 )     2,052     2772.9    
      Operating margin %   14.0%       -0.8 %     14.8%     1799.0%    
                       
    Interest expense, net   233       228       5     2.2    
    Other expense, net   29       93       (64 )   -69.0    
    Income (loss) before income taxes   1,716       (395 )     2,111     534.4    
      Pre-tax margin %   12.2%       -4.4 %     16.6%     377.3%    
                       
    Income tax provision   20       40       (20 )   -50.0    
    Net income (loss)   1,696       (435 )     2,131     489.9    
    Preferred Stock dividends   (121 )     (121 )     –     0.0    
    Income (loss) attributable to common and                
    Participating shareholders $ 1,575     $ (556 )   $ 2,131     383.2    
                       
    Per share information:                
    Basic earnings (loss) per common and participating share:                
    Distributed earnings per share:                
    Common $ –     $ –     $ –        
    Preferred $ 0.02     $ 0.02     $ –     0.0    
    Undistributed earnings (loss) per share:                
    Common $ 0.10     $ (0.04 )   $ 0.14     350.0    
    Preferred $ 0.10     $ (0.04 )   $ 0.14     350.0    
    Earnings (loss) per diluted share $ 0.09     $ (0.04 )   $ 0.13     325.0    
                       
                       
    Total basic weighted average common and participating shares     15,569       15,569            
                       
    Total diluted weighted average shares   16,725       15,569            
    Table B                
    Environmental Tectonics Corporation 
    Summary Table of Results
    (in thousands, except per share information) 
    (unaudited) 
                       
        Twenty-six weeks ended   Variance  
        August 23, 2024   August 25, 2023
    		     ($)   (%)  
    Net sales $ 27,575     $ 16,683     $ 10,892     65.3    
    Cost of goods sold   18,851       12,559       6,292     50.1    
    Gross Profit   8,724       4,124       4,600     111.5    
      Gross profit margin %   31.6%       24.7%       6.9%     27.9%    
                       
    Operating expenses   5,194       4,973       221     4.4    
    Operating income (loss)   3,530       (849 )     4,379     515.8    
      Operating margin %   12.8%       -5.1 %     17.9%     351.0%    
                       
    Interest expense, net     349       426       (77 )   -18.1    
    Other expense, net   85       143       (58 )   -40.6    
    Income (loss) before income taxes   3,096       (1,418 )     4,514     318.3    
      Pre tax margin %   11.2%       -8.5 %     19.7%     231.8%    
                       
    Income tax provision   40       80       (40 )   -50.0    
    Net (loss) income   3,056       (1,498 )     4,554     304.0    
    Preferred Stock Dividends   (242 )     (242 )     –     0.0    
    Income (loss) attributable to common and                
    Participating shareholders $ 2,814     $ (1,740 )   $ 4,554     261.7    
                       
    Per share information:                
    Basic earnings (loss) per common and participating share:                
    Distributed earnings per share:                
    Common $ –     $ –            
    Preferred $ 0.04     $ 0.04     $ –     0.0    
    Undistributed (loss) per share:                
    Common $ 0.18     $ (0.11 )   $ 0.29     263.6    
    Preferred $ 0.18     $ (0.11 )   $ 0.29     263.6    
    Earnings (loss) per diluted share $ 0.17     $ (0.11 )   $ 0.28     254.5    
                       
    Total basic weighted average common and participating shares   15,569       15,569            
                       
    Total diluted weighted average shares   16,725       15,569            

    The MIL Network –

  • MIL-OSI: CVR Energy to Release Third Quarter 2024 Earnings Results

    Source: GlobeNewswire (MIL-OSI)

    SUGAR LAND, Texas, Oct. 15, 2024 (GLOBE NEWSWIRE) — CVR Energy, Inc. (NYSE: CVI) plans to release its third quarter 2024 earnings results on Monday, Oct. 28, after the close of trading on the New York Stock Exchange. The Company also will host a teleconference call on Tuesday, Oct. 29, at 1 p.m. Eastern to discuss these results.

    This call, which will contain forward-looking information, will be webcast live and can be accessed on the Investor Relations section of CVR Energy’s website at http://www.CVREnergy.com. For investors or analysts who want to participate during the call, the dial-in number is (877) 407-8291. The webcast will be archived and available for 14 days at https://edge.media-server.com/mmc/p/fm39ca3r. A repeat of the call also can be accessed for 14 days by dialing (877) 660-6853, conference ID 13749245.

    CVR Energy’s third quarter 2024 earnings news release will be distributed via GlobeNewswire and posted at http://www.CVREnergy.com.

    About CVR Energy, Inc.
    Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the renewables, petroleum refining and marketing businesses as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP. CVR Energy subsidiaries serve as the general partner and own 37 percent of the common units of CVR Partners, LP.

    For further information, please contact:

    Investor Relations:
    Richard Roberts
    CVR Energy, Inc.
    (281) 207-3205
    InvestorRelations@CVREnergy.com

    Media Relations:
    Brandee Stephens
    CVR Energy, Inc.
    (281) 207-3516
    MediaRelations@CVREnergy.com

    The MIL Network –

  • MIL-OSI: Trio Provides Operational Update

    Source: GlobeNewswire (MIL-OSI)

    Company Details Plans to Increase Production

    Bakersfield, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today provided an operational update on each of its current oil and gas assets, by field. The update details the specific operational activities the Company is taking to increase daily oil and gas production.

    McCool Ranch Field

    • Production has been stable for a number of months averaging about 20 BOPD from the HH-1 and 35X wells collectively and we are actively continuing operations to increase oil production.
    • The Company is planning to acidize the HH-1 and 35X wells and anticipates a notable increase in oil production.
    • Planning is underway to return the 58X, HH-3 and HH-4 wells to production over the next several months.
    • Operations continue to prepare the field for cyclic-steam operations – when our current five oil wells were initially steamed in 2014-2015 oil production steadily increased over a nine month period from 30 BOPD to a peak of about 400 BOPD.

    Presidents Field, South Salinas Project

    • First oil sales from the HV-3A well occurred in August 2024. We believe production at HV-3A may be improved with acid treatments, by adding up to 625 feet of perforations across the proven oil-producing zones, and/or opening deeper behind-pipe oil zones that are currently below a bridge plug.
    • We expect workovers at HV-3A, whether acidizing, perforating and/or opening deeper zones, will result in notable increases in oil production.
    • Initially we expect to acidize (for borehole cleanup) the currently open 250 feet of perforations and anticipate production of at least 30 BOPD, (which was the average rate in the well’s first month of production), and potentially a much higher oil rate.

    Asphalt Ridge

    • The HSO 2-4 well is currently producing, utilizing a downhole heater, and the operator, Valkor LLC, expects that production may stabilize at approximately 40 BOPD.
    • Asphalt Ridge is known to be one of the largest tar-sand deposits in North America outside of Canada, and to have now established first-oil at this project is of utmost significance to the Company.
    • Downhole heater operations are expected to be operational shortly at the 8-4 well.
    • We expect at least one additional well at Asphalt Ridge by year’s end.
    • Valkor LLC projects that these 3 wells collectively will produce roughly 120-150 BOPD.

    “We are pleased to be able to provide these operational updates on our three oil and gas assets,” commented Robin Ross, CEO of Trio. “We have three good scalable projects today and one of my top priorities is developing what we control, and increasing production. The next few months should be exciting as we continue to demonstrate the potential of our company and grow our business.”

    About Trio Petroleum Corp

    Trio Petroleum Corp is an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California, and Uintah County, Utah. In Monterey County, Trio owns a 85.75% working interest in 9,245 acres at the Presidents and Humpback oilfields in the South Salinas Project, and a 21.92% working interest in 800 acres in the McCool Ranch Field. In Uintah County, Trio owns a 2.25% working interest in 960 acres and options to acquire up to an additional 17.75% working interest in the 960 acres, and also an option to acquire 20% working interest in an adjacent 1,920 acres, and a right of first refusal to participate in an additional approximate 30,000 acres of the Asphalt Ridge Project at terms offered to other third parties.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this press release of Trio Petroleum Corp (“Trio”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors sections of the Trio reports filed with the Securities and Exchange Commission (SEC). Copies of such documents are available on the SEC’s website, http://www.sec.gov. Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Investor Relations Contact:
    Redwood Empire Financial Communications
    Michael Bayes
    (404) 809 4172
    michael@redwoodefc.com

    The MIL Network –

  • MIL-OSI: Plantro enters into Agreement with Blacksheep Fund Management

    Source: GlobeNewswire (MIL-OSI)

    ST. MICHAEL, Barbados, Oct. 15, 2024 (GLOBE NEWSWIRE) — Dye & Durham Limited (“Dye & Durham”) announced today that it had entered into a cooperation agreement (the “Cooperation Agreement”) with Blacksheep Fund Management Ltd. (together with its affiliates, “Blacksheep”) pursuant to which, among other things: (i) Blacksheep has the right to designate one individual (the “Investor Nominee”) who will be appointed to the Company’s board of directors (the “Board”), and (ii) the Company and Blacksheep have agreed to a construct whereby they will mutually identify a new independent director nominee for the Board (the “Independent Nominee”).

    In connection with the Cooperation Agreement, Plantro has entered into a letter agreement with Blacksheep pursuant to which, subject to certain conditions, Plantro has agreed to vote its common shares of Dye & Durham (the “Common Shares”) in favour of the Investor Nominee and the Independent Nominee, or their replacements, at any annual or special meetings of Dye & Durham’s shareholders up to, and including, the 2025 annual meeting.

    As of the date hereof, Plantro holds 10,861,110 Common Shares, representing approximately 16.2% of the issued and outstanding Common Shares. Plantro intends to review its investment in Dye & Durham on a continuing basis and may determine to buy additional common shares, or sell some or all of the common shares it holds, depending upon price, market conditions, availability of funds, evaluation of alternative investments and other factors it considers relevant from time to time.

    Dye & Durham’s address is 25 York Street, Suite 1100, Toronto, Ontario, M5J 2V5. Plantro’s address is Cidel Place, Lower Collymore Rock, St. Michael, Barbados 11000. To obtain a copy of the early warning report relating to Plantro’s agreement with Blacksheep, please contact Amanda J. Lashley at +1 246-430-5350.

    The MIL Network –

  • MIL-OSI: Progressive Reports September 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    MAYFIELD VILLAGE, OHIO, Oct. 15, 2024 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended September 30, 2024 and the third quarter of 2024:

      September Quarter
    (millions, except per share amounts and ratios; unaudited)  2024  2024    2023    Change
    Net premiums written $     6,570.0 $ 19,455.6   $ 15,593.8     25 %
    Net premiums earned $     6,262.7 $ 18,296.7   $ 14,894.3     23 %
    Net income $        584.6 $     2,333.4   $     1,121.3     108 %
      Per share available to common shareholders $          0.99 $          3.97   $          1.89     110 %
    Total pretax net realized gains (losses) on securities $        121.2 $        287.4   $      (149.0 )   (293)%
    Combined ratio   93.4   89.0     92.4     (3.4)pts.
    Combined ratio – prior year month   89.7          
    Average diluted equivalent common shares   587.7   587.6     587.5     0 %
                         

    In October 2023, we converted our monthly accounting closing calendar to align with the Gregorian calendar. We do not expect that this change will have a material impact on our reported quarterly and annual underwriting results but it may impact our year-over-year comparisons on monthly results from October 2023 through September 2024. Therefore, during this time period, we have modified and limited the content of the earnings release, compared to our historical reporting. Click here for further discussion on the closing calendar conversion in the October 2023 release, issued November 17, 2023.

      September 30,
    (thousands; unaudited) 2024   2023   % Change
    Policies in Force          
    Personal Lines          
    Agency – auto 9,415.6   8,363.3   13
    Direct – auto 13,387.9   11,154.3   20
    Total personal auto 22,803.5   19,517.6   17
    Total special lines 6,475.0   5,956.2   9
    Total Personal Lines 29,278.5   25,473.8   15
    Total Commercial Lines 1,130.5   1,110.3   2
    Total Property business 3,459.6   3,025.2   14
    Companywide Total 33,868.6   29,609.3   14
               
               

    See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.

    About Progressive

    Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

    Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers. 

    Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

    The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

    Company Contact:
    Douglas S. Constantine
    (440) 395-3707
    investor_relations@progressive.com
     
    The Progressive Corporation
    300 North Commons Blvd.
    Mayfield Village, Ohio  44143
    http://www.progressive.com

    Download PDF: Progressive September 2024 Complete Earnings Release

    The MIL Network –

  • MIL-OSI: NEWTON GOLF Company Expands its Global Presence with the Launch of Newton Motion Shafts in Japan

    Source: GlobeNewswire (MIL-OSI)

    Newton Motion shafts now available in 50 of Japan’s largest golf retailers and through GDO, the country’s leading e-commerce platform

    CAMARILLO, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) — NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces the launch of its Newton Motion shafts in Japan.

    Now available in 50 of the largest retail golf stores across Japan, golfers and golf enthusiasts in Japan have access to the Company’s proprietary Newton Motion shaft design and construction, including the four essential technologies embedded in each shaft: Elongated Bend Profile; Kinetic Storage Construction; Newton Symmetry360 Design; and a Variable Bend Profile.

    In addition to this new, extensive retail presence, NEWTON GOLF has partnered with GDO, Japan’s largest e-commerce company for distribution of the Newton Motion shafts, ensuring that golfers can conveniently purchase the new shafts online.

    “Newton Motion has had considerable success with the U.S. tour pros, consumers, and professional fitters,” said Shige Okabe, Newton Golf’s Sales Representative for Japan. “Our initial testing with Japanese buyers and tour professionals confirmed that Newton Motion shafts surpass anything that exists in the Japanese market today. We are confident it will make an immediate impact there.”

    Japan is the second largest golf market in the world, behind the U.S. According to the 2021 World Golf Report, these two countries are responsible for about two-thirds of the world’s golf equipment market.

    The Newton Motion shafts have quickly gained traction among top players on the PGA TOUR Champions, including Doug Barron, who won his first major championship with the Newton Motion Shaft in his driver, John Daly, Clark Dennis, Chris DiMarco, Ken Duke, Fred Funk, Colin Montgomerie, Mark O’Meara, Tim Petrovic, and Duffy Waldorf, among others.

    The shafts are sold “ready to play” and include the shaft adapter and grip. The grip is a Lamkin Crossline 360, and there are adapter options to choose from that fit most driver heads.

    The Newton Motion shafts are manufactured in the Company’s St. Joseph, Missouri manufacturing facility.

    All Newton Motion shafts, including the newly introduced 6.5-DOT and 7-DOT shafts, can be seen and are available for purchase at https://newtonshafts.com.

    About NEWTON GOLF: A Sacks Parente Company

    NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.

    In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.

    The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea. For more information, please visit the Company’s website at http://www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.

    Media Contact for NEWTON GOLF

    Beth Gast
    BG Public Relations
    beth.gast@bgpublicrelations.com

    Investor Contact for NEWTON GOLF
    CORE IR
    516-222-2560
    investors@sacksparente.com

    The MIL Network –

  • MIL-OSI: Microchip Releases 20 Advanced Wi-Fi® Products for Industrial and Commercial Applications

    Source: GlobeNewswire (MIL-OSI)

    CHANDLER, Ariz., Oct. 15, 2024 (GLOBE NEWSWIRE) — With Industry 4.0, the rapid rise of Artificial Intelligence (AI), digitized manufacturing and the age of IoT everything, the demand for wireless connectivity in commercial and industrial applications is growing at an exceptional pace. These applications typically require reliable connectivity that can withstand extreme environments that are exposed to high temperatures, background noise and obstructions. To help meet this need, Microchip Technology (Nasdaq: MCHP) has added 20 products to its Wi-Fi® portfolio. Expanding one of the industry’s most extensive wireless connectivity product lines, Microchip offers high-performance Wi-Fi microcontrollers (MCUs), network and link controllers and plug-and-play modules designed to simplify development and speed time to market.

    The company’s Wi-Fi solutions are designed to support various application needs and developer skill levels. The selection ranges from modules that are regulatory certified in several countries that require no Radio Frequency (RF) expertise and little programming to robust Systems-on-Chip (SoCs) with industrial-level features.

    Microchip’s Wi-Fi portfolio includes:

    • Wi-Fi MCUs: all-in-one solution designed to combine the functionality of an MCU with reliable wireless connectivity
    • Link Controllers: an SDIO interface enables the addition of Wi-Fi to Linux® MPUs
    • Network Controllers: an SPI interface allows the addition of wireless connectivity to an MCU
    • Plug-and-Play Modules: simplify wireless-to-cloud connectivity by sending simple text commands from an MCU over a UART interface

    “For decades Microchip has been a respected MCU provider, and we’ve leveraged that background, along with our comprehensive support ecosystem, to build a portfolio of Wi-Fi products and services that is unmatched in the industry today,” said Rishi Vasuki, vice president of Microchip’s wireless solutions business unit. “Our experience allows us to provide developers with wireless solutions designed to support advanced applications such as precision sensing and motor control operating under harsh conditions.”

    The latest PIC32MZ-W1 Wi-Fi MCUs build on Microchip’s trusted 32-bit MCU line and feature advanced analog peripherals—including CAN, Ethernet, capacitive touch and ADC—to offer exceptional versatility. Additionally, the new devices feature some of the highest General-Purpose Input/Output (GPIO) capabilities on the market.

    Also included in the lineup are next-generation WINCS02 network controllers and WILCS02 link controllers. Updates to the popular WINC and WILC solutions include improved radio performance and enhanced security features. The new wireless modules are pin-to-pin compatible with previous generations to ease migration from legacy devices.

    To simplify Wi-Fi to cloud connectivity, Microchip has also expanded its plug-and-play product line with new RNWF02 modules. These modules connect MCUs to a cloud platform using simple ASCII commands sent over a UART interface.

    Secure connections, which are critical for Wi-Fi applications that send or receive data from the cloud, can be challenging to implement depending on the developer’s skill level. To ease this process, Microchip has integrated its Trust Platform into many of its Wi-Fi products. Trust&GO module variants are pre-provisioned for secure authentication with popular cloud services, including AWS® and Azure®, to streamline the process of network authentication.
                 
    Millions of Microchip Wi-Fi products are already powering industrial applications around the world, offering seamless integration, enhanced security, robust connectivity and long-term performance and reliability throughout their lifecycle. To learn more, visit Microchip’s Embedded Wireless Connectivity Products web page. 

    Development Tools
    Microchip’s Wi-Fi portfolio is supported by a comprehensive suite of development tools, application demos, evaluation boards and services. Additional services include free design checks to give developers the support they need to create high-quality products efficiently.

    Pricing and Availability
    For additional information or to purchase, contact a Microchip sales representative, authorized worldwide distributor or visit Microchip’s Purchasing and Client Services website, http://www.microchipdirect.com.

    Resources
    High-res images available through Flickr or editorial contact (feel free to publish):

    About Microchip Technology:
    Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve approximately 123,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at http://www.microchip.com.

    Note: The Microchip name and logo, the Microchip logo, MPLAB are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries.  All other trademarks mentioned herein are the property of their respective companies.

    The MIL Network –

  • MIL-OSI: More Than One-Third of Gig Workers Rely on Gig Work as Primary Source of Income

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 15, 2024 (GLOBE NEWSWIRE) — While consumers have grown accustomed to on-demand services, like ridesharing and food delivery, they are also increasingly open to participating in the gig economy as workers. More than half of U.S. adults (62%) now earn money working for one or more gig platforms, according to new TransUnion (NYSE: TRU) research.

    Across generations, over one-third (37%) reported gig work as a primary source of income. Millennials lead this group with more than half (55%) leveraging gig work as their primary employment and income source. These findings and more are available in the TransUnion Fall 2024 US Gig Economy Report.

    “The gig economy has earned a strong reputation among workers as a reliable source of income that allows for unparalleled flexibility,” said Tracey Lazos, senior director of TransUnion’s gig economy business. “Our research indicates that this trend is likely to continue as more seek a primary or supplementary income from gig work.”

    Millennials are the leading generation of gig workers, with 78% currently earning income from one or more gig platforms. Gen Z and Gen X workers followed closely behind, at 67% and 65%, respectively. Just 36% of Baby Boomers reported earning from one or more platforms; however, 40% indicated they plan to engage in gig work in the future.

    Improved quality of life
    More than half of respondents reported their household finances were better than planned, and work satisfaction on gig platforms was generally high, with 64% of respondents saying they were somewhat or very satisfied.

    Top Reasons for Worker Satisfaction with Gig Platforms
    Flexibility Enjoy the Work Good Fit for Skillset Earning Potential
    71% 59% 47% 41%
           

    When deciding what type of work to engage in, flexibility (47%) and skillset match (39%) were the leading factors. The top three types of gig work were driving for a ride sharing service (23%), freelancing for a digital or online service (19%), and driving for a restaurant delivery service (19%).

    “The sense of acceptance from one’s social circle is also important to how people feel about themselves as professionals,” said Lazos. “That the report found a quarter of gig workers started because it was recommended by friends or family members indicates that gig work has a growing sense of legitimacy as a profession.”

    Over 60% of gig workers participate to supplement their income, and, predictably, two-thirds report earnings under $2,500 per month. However, 36% of Millennials and 21% of Gen Z workers—those most likely to use gig economy work as a primary source of income—report earnings more than $5,000 per month.

    Competing for workers
    The report found most gig earners plan to either maintain or increase their involvement in the gig economy. More than one-third (35%) of Gen Z workers indicated a plan to increase their work levels on gig platforms, either through increased hours or engaging with a greater number of platforms. Millennials were close behind, with 31% saying they plan to do the same.

    Only 8% of earners plan to stop working and acquire a full-time job, an indication that factors such as convenience and skillset alignment are driving more individuals to treat the gig economy as their primary workplace in place of more traditional employment. 

    The possibility for gig platforms to gain a greater share of the workforce creates an imperative for them to consider services and incentives to attract and retain workers. The survey proposed several potential services platforms could offer workers and found the most desirable options were identity protection, financial education, and supplementary insurance coverage.

    Seasonality is also an important consideration for attracting new workers. While 45% of earners say they work year-round, younger respondents reported a much higher likelihood to take on extra gig work during specific seasons—such as summer and winter—indicating a spike in gig work outside of the school year. Older earners, by contrast, are much more likely to work on an as-needed basis for extra income.

    “Gig workers already enjoy a flexible work experience that allows them to earn what they want, when they want, and how they want,” said Lazos. “By introducing services that also help them feel more empowered and able to meet long-term goals, platforms can provide a comprehensive offering that attracts workers who will create great customer experiences—while boosting worker retention.”

    Companies interested in attracting a high-value workforce should consider TransUnion’s TruAudience solutions for targeting and outreach. In addition, TransUnion’s TruEmpower™ line of solutions for consumer-facing identity protection and financial education can help retain workers.

    Click here to read the latest TransUnion Fall 2024 US Gig Economy Report.

    Research Methodology
    This online survey of 1,013 adults was conducted in August 2024, by TransUnion in partnership with third-party research provider, Toluna. Survey participants included adults 18 years of age and older residing in the United States who participate in the gig economy as a contractor of gig economy services. Participants included current, past, and future contractors of gig economy services. To ensure general population sample representativeness across United States resident demographics, the survey targeted respondents in line with the census statistics on the dimensions of age, gender, household income, and region. These research results are unweighted and statistically significant at a 95% confidence level within ±3.1 percentage points based on calculated error margin. Please note some chart percentages may not add up to 100% due to rounding or multiple answers being accepted.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

    Contact   Dave Blumberg
        TransUnion
    E-mail   david.blumberg@transunion.com
    Telephone   312-972-6646

    The MIL Network –

  • MIL-OSI: Franklin Electric Schedules Its Third Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    FORT WAYNE, Ind., Oct. 15, 2024 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. (NASDAQ: FELE) will release its third quarter 2024 earnings at 8:00 am ET on Tuesday, October 29, 2024. A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The third quarter 2024 earnings call will be available via a live webcast. The webcast will be available in a listen-only mode by going to:

    https://edge.media-server.com/mmc/p/cp5pmtx9

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register.vevent.com/register/BIa5e3e952cc2d47c28144fef8683c97e0

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, October 29, 2024, through 9:00 am ET on Tuesday, November 5, 2024, by visiting the listen-only webcast link above.

    About Franklin Electric
    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2023 and America’s Climate Leaders 2023 by USA Today.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2023, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    CONTACT: Jeff Taylor
    Franklin Electric Co., Inc.
    260.824.2900

    The MIL Network –

  • MIL-OSI: Nametag Unveils Deepfake Defense™ to Combat AI-Powered Impersonation Threats, Expands Integration Partnership with Okta

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Oct. 15, 2024 (GLOBE NEWSWIRE) — More than 50% of executives expect deepfake attacks to increase over the next 12 months, but only 7% report using new technologies to detect deepfakes*. Meanwhile, researchers are repeatedly demonstrating how AI-generated ID documents, selfie photos, and videos can successfully fool antiquated Know Your Customer (KYC) verification checks. To address this gaping security hole, Nametag Inc., the leading provider of integrated identity verification and account protection solutions, today announced Deepfake Defense™ at Okta’s annual Identity Conference, Oktane. This next-generation identity verification (IDV) engine is an industry-first, finally addressing the escalating global threats posed by modern AI-powered impersonation.

    “Nametag’s Deepfake Defense engine is the first scalable solution for remote identity verification that’s capable of blocking the AI deepfake attacks plaguing enterprises,” said Bruce Schneier, internationally renowned security technologist and cryptography expert. “This will make it much harder for bad actors to profit from deepfakes.”

    Deepfake Defense for Okta

    As a longtime working partner of Okta, Nametag also officially announced its membership in the Okta Elevate Partner Program. Nametag and Okta’s combined solution, powered by Deepfake Defense, helps enterprises protect their entire Okta user account lifecycle via self-service and agent assisted workflows, delivering on the two companies’ shared vision of deploying deepfake-protected identity security across every workforce and customer account.

    “We’re thrilled to join Okta in creating the future of identity security. Our membership in the Okta Elevate partner program highlights our advanced identity verification technology and commitment to protecting workforce and customer identities,” said Leonard Navarro, VP Business Development at Nametag. “This partnership strengthens the Okta identity security ecosystem and gives our joint customers even easier access to proven tools and ready-to-use solutions for robust identity assurance.”

    Introducing Nametag Deepfake Defense: A New Standard for Identity Verification

    Nametag Deepfake Defense connects the company’s proprietary technologies and patented innovations together into a unified IDV engine that unlocks greater outcomes across fraud prevention and user experience. Deepfake Defense blocks emerging, AI-powered impersonation threats while verifying legitimate users quickly and more securely. It’s the first and only IDV engine that:

    • Prevents injection attacks via Cryptographic Attestation™ which ensures data integrity using hardware-backed keystore assurance and secure enclave technology from Apple and Google.
    • Detects digital manipulation and forgery with Adaptive Document Verification™, preventing the use of even the most sophisticated digitally-altered or counterfeit identity documents.
    • Confirms human likeness, liveness, and presence using Spatial Selfie™ technology to map a person’s 3-dimensional selfie to their 2-dimensional ID photo with biometrics and sensor data.

    IDV with Deepfake Defense takes just a few seconds using a photo ID and a smartphone. It’s available today through Nametag’s solutions for self-service account recovery and helpdesk verification.

    “Make no mistake: we’re facing a global deepfake pandemic that’s spreading ransomware and disinformation. Identity fraud runs rampant and enterprises are defenseless against AI-powered fraudsters. That’s why we’re introducing Deepfake Defense, the only identity verification engine that prevents, not just detects, the use of deepfakes,” said Aaron Painter, CEO of Nametag. “As part of our partnership with Okta, we chose to launch Deepfake Defense for Okta customers here at Oktane 2024. Today, this new technology is generally available and easily accessible to all organizations interested in protecting their users from the growing threat of deepfakes.”

    For more information and a demo of Nametag and Okta’s combined solution, visit getnametag.com.

    About Nametag
    Nametag provides integrated identity verification and account protection solutions that prevent modern impersonation threats and streamline user experiences. Powered by Deepfake Defense™, Nametag detects and blocks sophisticated attacks which bypass other, outdated approaches to user verification, delivering the highest possible level of identity assurance. Nametag’s out-of-the-box solutions help enterprises secure their entire user account lifecycle, from onboarding through recovery, while ensuring compliance with the latest privacy standards. Security-conscious enterprises trust Nametag to protect their businesses and reduce IT and support costs. For more information, visit getnametag.com.

    *Deloitte. (May 2024). Generative AI and the fight for trust.

    Nametag Media Contact:
    Jennifer Schenberg
    PenVine for Nametag
    917-445-4454
    jennifer@penvine.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6853673-cdd8-4c5f-ba2f-f1972d5c694a

    The MIL Network –

  • MIL-OSI USA: A Congress.gov Interview with Wade Ballou, the Legislative Counsel of the House of Representatives

    Source: US Global Legal Monitor

    Today’s interview is with Wade Ballou, the Legislative Counsel of the House of Representatives.

    As Legislative Counsel, Wade Ballou oversees the House Office of the Legislative Counsel (HOLC). HOLC provides legislative drafting services to the committees and Members of the House of Representatives on a nonpartisan, impartial, and confidential basis.

    Recent recognition of Wade’s service to Congress includes the 2024 Democracy Award for Lifetime Achievement by Congressional Staff and exceptional leadership and contributions, including through the development of the Comparative Print Suite for the U.S. House of Representatives. 

    Describe your background.

    I am from Roanoke, Virginia. During my youth I was active in sports, Scouting, and the YMCA. I earned a B.S. in forestry (industrial forestry operations with cooperative education certificate) from Virginia Tech in 1980. At Tech, I was active in Alpha Phi Omega. APO is the coed national service fraternity affiliated with Scouting. I met my wife in APO. We’ve been married for 41 years and have two married sons and two grandchildren. I am an Eagle Scout and have served as an adult leader in Scouting, both as cubmaster and scoutmaster.

    What is your academic/professional history?

    After Virginia Tech, I went to the University of Virginia School of Law and earned a J.D. in 1983. I joined the Office of the Legislative Counsel, U.S. House of Representatives in the fall of 1983, where I am presently employed. The Office is a non-partisan, career office responsible for drafting legislation for the House, its committees, members, and leadership. After completing training, during which I drafted federal law generally, I worked with foreign affairs legislation. Due to needs of the Office, in 1986, I moved into the areas of Native American issues (including health care and land claims), federal land issues (including natural resources, water reclamation and irrigation, public lands, and forestry), and intelligence, and later picked up parts of veteran’s affairs. In 1996, I changed to the tax team, again due to the needs of the Office. As a member of the team, I drafted in all areas of federal tax law, specializing in pensions, health care, bonds, and excise taxes. Alongside of tax, I have worked in public debt, ERISA, health care, and social security.

    I earned a graduate certificate in spiritual direction studies from Washington Theological Union in 2013 and a certificate in spiritual formation from the Avila Institute in 2015.

    In 2016, I was appointed the 8th Legislative Counsel of the House of Representatives, effective August 1. During my time as the head of the Office, there has been significant change in both the House and the Office, including a 45% increase in the number of attorneys and a significant increase in demand for draft legislation. The Office now has some 90 personnel, including 68 attorneys. Some of the changes include improving the recruiting system and modifying the training methodology for new attorneys and transitioning the Office to a new Sharepoint site and digital leave management system.

    I have also been fortunate to be able to work with other institutions in the legislative branch, especially through participation in the Congressional Data Task Force. This includes:

    1. Partnering with the Clerk of the House and the Government Publishing Office to develop and update the Comparative Print Suite, a software tool that provides on-demand comparisons of how a bill changes law, how amendments change a bill, bill-to-bill differences, and a bill viewer; and

    2. Working to provide educational opportunities concerning the legislative process and drafting software applications.

    How would you describe your job to other people?

    My official job title is Legislative Counsel of the House of Representatives. The fun way to describe my job is that I am responsible for producing paper for the House. This is a throwback to my forestry days where the job of a procurement forester is to ensure that the mill never runs out of timber.

    Additionally, I meet with members and staffs of parliaments around the world to discuss and share ideas for improvements in legislative process and drafting. These opportunities include working through the House Democratic Initiative, the National Democratic Institute, and the International Republican Institute. I am an associate member of the Commonwealth Association of Legislative Counsel and a frequent speaker and contributor to webinars on improving legislative drafting organized by Bússola Tech, an international leader in this arena.

    What is your role in the development of Congress.gov?

    I do not think of this as a role, but I brought to the attention of Congress.gov various research and document needs that are useful to drafters. They developed features to meet those needs. It is interesting to me that most of my draft files are on Congress.gov in the form of bills and resolutions.

    What is your favorite feature of Congress.gov?

    Well, there are two features that I use a lot. Whenever a drafting request requires beginning with a public version of a bill or resolution (introduced, reported, passed, etc.), we begin with the version that is posted on Congress.gov in the XML format. So, the download feature that allows me to save this version on my computer system is a big hit for me. In addition, I use the tables of public laws and appropriations a lot. I will get to these either from links on the website or from searches and filters.

    What is the most interesting fact you’ve learned about the legislative process while working for Congress?

    Ha. The legislative process happens. Sometimes it is textbook. Sometimes it is a bit convoluted. Sometimes a bill is conferenced before it is introduced. But, the formal steps are acknowledged, even if it is by discharge or unanimous consent. So, it is important to know the ideal path to how a bill becomes law so that you can place a question in the context of this ideal.

    What’s something most of your co-workers do not know about you?

    During high school and college, I was a member of forest fire fighting teams. Today we would call these wildland fire teams.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI Europe: OLAF intelligence supports Spanish Operation enforcing EU sanctions against Russia

    Source: European Anti-Fraud Offfice

    Press release 17/2024
    PDF version 

    The European Anti-Fraud Office (OLAF) assisted the Spanish authorities with the enforcement of EU sanctions against Russia during Operation “Probirka” (Russian for “Test Tube”). The operation led to the arrest of four individuals involved in the illegal export of chemicals to Russia and the seizure of 13 tons of chemical substances.

    Since 2022, following Russia’s invasion of Ukraine, the European Union has imposed sanctions on the country, including strict bans on the export and import of certain goods. OLAF has been actively engaged in investigating, monitoring trade flows, conducting analytical work, and identifying potential attempts to circumvent these sanctions. By mapping out suspicious trade routes and identifying operators, OLAF has played a key role in preventing illegal transactions that could support Russia’s military capabilities.

    As part of the Joint Sanctions Enforcement Operation that OLAF has been running since July 2023, OLAF was called upon by the Spanish authorities to assist with investigations into the export of chemical substances from Spain. It was suspected that certain companies were bypassing EU sanctions by rerouting goods through intermediaries in Kyrgyzstan, with the final destination being Russia. 

    OLAF responded by gathering export data from various EU Member States and sharing critical intelligence with the Spanish investigators. OLAF’s collaboration provided crucial evidence to confirm that these illegal exports were indeed reaching Russia.

    Ville Itälä, Director-General of OLAF, reiterated that: “OLAF’s ability to join the dots and to bring together the data and intelligence from national authorities is once again key to the success of our partners. OLAF is best placed to facilitate this synergy and cooperation and we remain steadfast in our commitment to support our partners in their endeavours to enforce the sanctions imposed on Russia and Belarus. Sanctions are only as effective as their enforcement, and we are proud to contribute actively.”

    Four arrested and 13 tons of chemicals seized 

    As part of the investigation, the Spanish National Police and Customs Surveillance Service arrested four individuals in the Spanish region of Catalonia, three of whom are Russian nationals. The operation also resulted in the seizure of 13,000 kilograms of a chemical compound subject to export restrictions, at the Port of Barcelona.

    The investigation revealed that a Spanish company, managed by Russian nationals, had established a sophisticated logistical and economic scheme to export internationally sanctioned chemical products to Russia. This network involved the use of shell companies in Armenia and Kyrgyzstan to disguise the true destination of the goods, which were later rerouted to Russia.

    OLAF’s contribution has been pivotal in enhancing the Spanish authorities’ ability to enforce EU sanctions and prevent illegal trade that could undermine the effectiveness of the sanctions against Russia. The investigation remains ongoing, with efforts focused on identifying and arresting additional individuals involved in this smuggling network.

    OLAF mission, mandate and competences:
    OLAF’s mission is to detect, investigate and stop fraud with EU funds.    

    OLAF fulfils its mission by:
    •    carrying out independent investigations into fraud and corruption involving EU funds, so as to ensure that all EU taxpayers’ money reaches projects that can create jobs and growth in Europe;
    •    contributing to strengthening citizens’ trust in the EU Institutions by investigating serious misconduct by EU staff and members of the EU Institutions;
    •    developing a sound EU anti-fraud policy.

    In its independent investigative function, OLAF can investigate matters relating to fraud, corruption and other offences affecting the EU financial interests concerning:
    •    all EU expenditure: the main spending categories are Structural Funds, agricultural policy and rural development funds, direct expenditure and external aid;
    •    some areas of EU revenue, mainly customs duties;
    •    suspicions of serious misconduct by EU staff and members of the EU institutions.

    Once OLAF has completed its investigation, it is for the competent EU and national authorities to examine and decide on the follow-up of OLAF’s recommendations. All persons concerned are presumed to be innocent until proven guilty in a competent national or EU court of law.

    For further details:

    Pierluigi CATERINO
    Spokesperson
    European Anti-Fraud Office (OLAF)
    Phone: +32(0)2 29-52335  
    Email: olaf-media ec [dot] europa [dot] eu (olaf-media[at]ec[dot]europa[dot]eu)
    https://anti-fraud.ec.europa.eu
    X: @EUAntiFraud
    LinkedIn: European Anti-Fraud Office (OLAF)

    Theresa ZAHRA
    Deputy Spokesperson
    European Anti-Fraud Office (OLAF)
    Phone: +32 (0)2 29-57270   
    Email: olaf-media ec [dot] europa [dot] eu (olaf-media[at]ec[dot]europa[dot]eu)
    https://anti-fraud.ec.europa.eu
    X: @EUAntiFraud
    LinkedIn: European Anti-Fraud Office (OLAF)

    If you’re a journalist and you wish to receive our press releases in your inbox, pleaseleave us your contact data.

    MIL OSI Europe News –

  • MIL-OSI Global: ‘Childless cat ladies’ is a political catchphrase that doesn’t match reality − Democrats and Republicans have similar demographics and experiences when it comes to parenthood

    Source: The Conversation – USA – By Laurel Elder, Professor of Political Science, Hartwick College

    Republicans and Democrats tend to have children at around the same rates and ages and to view parenthood in a similar way. iStock / Getty Images Plus

    Republican vice presidential candidate JD Vance infamously said in 2021 that the Democratic Party is run by “a bunch of childless cat ladies who are miserable at their own lives and the choices they’ve made” – and do not have a “direct stake” in the future of the United States.

    Three years later, after Vance’s selection as Trump’s vice presidential pick, these comments resurfaced and quickly became a cultural touchstone.

    In July 2024, Vance clarified his controversial comments, saying that what he meant was that the Democratic Party has become anti-family and anti-child.

    At a September 2024 campaign event alongside Donald Trump, Arkansas Gov. Sarah Huckabee Sanders echoed Vance’s sentiments about Democrats being anti-family. “My kids keep me humble. Unfortunately, Kamala Harris doesn’t have anything keeping her humble,” she said.

    The single cat lady theme was amplified further when singer Taylor Swift used it to sign off on her Instagram endorsement of Harris.

    While the cat lady framing is new, politicians making parenthood and family a centerpiece in their appeals to the American public has a long history.

    As we show in our 2012 book, “The Politics of Parenthood,” and subsequent research, politicians have been using messages about parenthood as a way to appeal to voters since the 1980s. eg: link wouldn’t work for me

    Content analysis of party platforms and speeches by presidential candidates reveals that both parties have devoted more and more time and space to making the case that they are the true pro-family party. Republicans argue that lower taxes and smaller government strengthen American families, while Democrats argue that strengthening social welfare programs represents the best way to support families.

    Despite the parties’ contrasting pro-family messages and the image conjured by Vance’s childless cat lady comments, Republicans and Democrats are not really that different when it comes to their actual experiences having and raising children.

    Our analysis shows that the age at which Americans have children, how many children they have and whether parents work outside the home are surprisingly similar across partisan lines.

    A woman attends a CatCon event in Pasadena, Calif., in August 2024 and wears a ‘Childless cat ladies for Kamala’ shirt.
    Genaro Molina/Los Angeles Times via Getty Images

    Democrats and Republicans find parenting rewarding

    To explore whether there are differences between Republicans and Democrats in terms of their families, we analyzed data from the 2022 General Social Survey, which had 4,149 respondents. GSS is a nationally representative and well recognized survey of American adults that has been conducted since 1972. We also analyzed data from a 2022 Pew survey of 3,757 mothers and fathers focused on parenting in America.

    This data shows that both Republicans and Democrats deeply value their roles as parents. In the Pew survey, 87% of parents said that their role as a parent is the most important or one of the most important aspects of their identity. Our analysis shows this is true for parents in both parties – 86% of Democrats and 88% of Republicans said they value their role as parents as the most or one of the most important aspects of their identity.

    Similarly, our analysis of the Pew data reveals that Democrats and Republicans both enjoy being parents – 84% of Republicans say they find parenting enjoyable most or all of the time, compared with 81% of Democrats.

    That said, contemporary parenting is also challenging.

    The 2022 Pew survey showed that 29% of parents describe raising children as stressful most or all of the time. And 42% of parents report that raising children is tiring all or most of the time. Our analysis shows that this is equally true for Republicans and Democrats.

    Indeed, the stresses of modern parenthood led the U.S. surgeon general in August 2024 to issue a public health advisory about parents’ declining mental well-being.

    One of the reasons for this stress is that most parents today are balancing parenthood with work. The Republican Party has long embraced “traditional marriage,” meaning a marriage between a man and a woman, where the mother stays home to raise the children. Yet the reality is that most moms have jobs outside the home. In our analysis of the 2022 Pew data, we find that about the same portion of Republican moms – 67% – work outside the home as Democratic moms, who totaled 69%.

    Both Republican and Democratic moms do more parenting

    Another way that the experience of parenthood is similar across partisan lines is that moms spend more time parenting than dads. Pew asked parents with partners and spouses about the division of labor around a variety of child care tasks in 2022.

    In our analysis of the full set of this data, which Pew provided us, we found that 77% of Democratic mothers and 80% of Republican mothers report doing more than their spouse or partner when it comes to managing their children’s activities. And 60% of Democratic mothers and 58% of Republican mothers report providing more comfort and emotional support to their children than their spouses or partners do.

    This may account for why the Pew data reveals that mothers, more so than fathers, report parenting being tiring most or all of the time – 47% for moms, compared with 34% for dads. Once again, our analysis shows that mothers’ higher levels of fatigue hold true for both Republican and Democratic mothers compared with Republican and Democratic dads.

    To assess the demographics of parenthood, we analyzed the 2022 General Social Survey data and found that Republicans and Democrats start their families at a similar age, just as they did a decade ago.

    On average, male and female Democrats are 26 when they have their first kid, while Republicans are 25. Higher levels of education are associated with starting families later, but this is true for those in both parties.

    Looking at women specifically, we find that Democratic women have their first child at 25 years old, and Republican women at 24. There is no evidence that Democratic women – more so than Republican women – are delaying having children so that they can pursue their careers, as suggested by Vance and Sanders in their critiques of the Democratic Party and Harris specifically.

    It is true that Americans are having fewer children compared with a few decades ago. But this drop in having children is nearly universal in high-income democracies, even despite some government policies that seek to increase the birth rate in the U.S.

    Our analysis reveals that the gap between Republicans and Democrats on this issue is modest. On average, Democrats are having 1.53 children, compared with 1.86 for Republicans.

    And the 2022 General Social Survey data shows that Democrats do report having no children at a modestly higher rate than Republicans, but it is men – more than women – who report being childless at higher rates. Among Americans over 40, 22% of Democratic men and 16% of Republican men have no kids, compared with 17% of Democratic women and 10% of Republican women.

    Despite political rhetoric suggesting there is a deep partisan divide among Americans on issues of families and child-rearing, the data tells a different story. It paints a picture of Americans, whether Democrats or Republicans, as remarkably similar in the basic demographics of parenting, as well as in their views about the joys and challenges of parenthood.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. ‘Childless cat ladies’ is a political catchphrase that doesn’t match reality − Democrats and Republicans have similar demographics and experiences when it comes to parenthood – https://theconversation.com/childless-cat-ladies-is-a-political-catchphrase-that-doesnt-match-reality-democrats-and-republicans-have-similar-demographics-and-experiences-when-it-comes-to-parenthood-238960

    MIL OSI – Global Reports –

  • MIL-OSI Europe: ASIA/LEBANON – Israeli strike on Christian-majority village in Northern Lebanon

    Source: Agenzia Fides – MIL OSI

    Tuesday, 15 October 2024 wars  

    Beirut (Agenzia Fides) – At least 23 people were killed yesterday, October 14, in a bomb attack on a building in the predominantly Christian village of Aitou, near Zgharta, in the far north of Lebanon, which has so far been spared by Israeli airstrikes. According to information received by Fides from local sources, the building in question was probably already known to the Israelis, as it had been rented to the Hezbollah-affiliated television station Al-Manar since 2006, at the time of the last war between Israel and Hezbollah. In recent weeks, the house had been used to house Shiite refugees from southern Lebanon who fled the Israeli offensive. First they were elderly people, then families with children. The Israeli airstrike was reportedly triggered when a Hezbollah representative arrived at the building with a large sum of money to be distributed to the displaced. The building was destroyed by bombs and, according to the latest reports, there are at least 23 dead. “The Lebanese population,” say Fides sources, “is once again wondering how Israel was able to know the exact time of the arrival of the person who was to be hit.” According to military observers, the Israeli forces tried to destroy not only weapons and ammunition depots, but also Hezbollah’s cash reserves, an essential means of payment in a country that has been in financial crisis since the end of 2019. (L.M.) (Agenzia Fides, 15/10/2024)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Global: On crime and justice, Trump and Harris records differ widely

    Source: The Conversation – USA – By Austin Sarat, William Nelson Cromwell Professor of Jurisprudence and Political Science, Amherst College

    Though crime and criminal justice policy are central issues in many elections, that’s not true in 2024. Surveys show that relatively few American voters rank crime as their most important concern.

    Yet both former President Donald Trump and Vice President Kamala Harris say they take those problems seriously. Trump and the Republicans have focused attention on the problem of illegal immigration and the crimes that he says immigrants commit.

    Harris, as The Economist noted, “is using her history as a prosecutor in San Francisco to burnish her tough-on-crime bona fides.” She has mentioned that background in connection with immigration, drug policy and corporate wrongdoing.

    As someone who studies crime and justice in the United States, it is clear to me that there are substantial differences between the two candidates, though each of their records contains some interesting twists and turns.

    Kamala Harris gives her first news conference as attorney general of California in November 2010.
    AP Photo/Damian Dovarganes

    Kamala Harris, the prosecutor

    Harris has a long record of working in the criminal justice system. She worked in the Alameda County district attorney’s office in California, starting in 1990, where she specialized in child sexual assault cases. She then served as district attorney in San Francisco from 2004 to 2010 and as attorney general of California from 2010 to 2017, when she was elected to the U.S. Senate.

    Axios reported that during her term as district attorney, “the number of violent crimes rose steadily in the city of San Francisco during her first five years in office then fell 15% in her last two years.” And when she served as the state’s attorney general, “the violent crime rate in the state was 439.6 per 100,000 residents the year before she took office and fell to 396.4 by 2014. … However, violent crime surged to 444.8 in 2016 during her last year in office to a six-year high,” Axios reported.

    In both offices, Harris undertook a number of reforms in criminal justice policy.

    For example, in San Francisco she developed a “Back on Track” initiative“ that aimed to help nonviolent drug offenders between the ages of 18 and 30. According to The New York Times, its key promise was that ”after a full year of employment, education, community service, regular meetings with a supervising judge and crime-free behavior, the charge would be expunged from the offender’s record.“ It was generally well received, especially among progressives.

    When Harris became the state’s attorney general, she reformed California’s approach to school truancy by focusing on the parents of truant children. As The New York Times reported, she threatened them ”with fines or even imprisonment if they did not ensure that their children attended class.“ FactCheck.org found that as a result of her policy, ”district attorneys reported prosecuting 3 to 6 … cases per year,“ on average.

    Considering Harris’ record in California, The Desert Sun (Palm Springs, California) said Harris ”earned a reputation as tough on sexual abuse, human trafficking and organized crime, and did not shy away from pursuing incarceration.“

    Throughout her career, Harris has been an opponent of the death penalty. During her first campaign for San Francisco district attorney, she promised that she would never seek a death sentence no matter how heinous the crime. She stuck to that promise, but as attorney general she went to court to defend death sentences that had been imposed under prior administrations.

    The Los Angeles Times said her decision to do so was an appropriate one for the attorney general, ”putting professional responsibility over personal politics.“

    CNN summarized her record on capital punishment by saying it ”broke hearts on both sides.“

    Donald Trump speaks at a meeting about prison reform in 2018.
    AP Photo/Carolyn Kaster

    Donald Trump’s record as president

    Trump, by contrast, was a strong proponent of the death penalty during his time in the Oval Office. In March 2018, he directed the Department of Justice to seek the death penalty in cases involving drug traffickers. The department also vigorously pursued new death penalty prosecutions in other areas and defended existing death sentences in court.

    After a long time without any federal executions, the Trump administration carried out 13 of them in the last seven months of his term. ProPublica said Trump’s administration ”executed more federal prisoners than any presidency since Franklin Delano Roosevelt’s” and more than the prior 10 presidents combined.

    In other areas, the Trump administration stepped in to stop some criminal justice reform initiatives. For example, according to ABC News, Trump’s first attorney general, Jeff Sessions, stopped former President Barack Obama’s effort to end prison privatization, and then began distributing contracts for new privately run detention centers.

    But during his presidency, Trump was not consistent in being tough on crime. For instance, in March 2018, he signed an executive order creating the Federal Interagency Crime Prevention and Improving Reentry Council. He charged it with identifying ways “to provide those who have engaged in criminal activity with greater opportunities to lead productive lives” and to develop “a comprehensive strategy that addresses a range of issues, including mental health, vocational training, job creation, after-school programming, substance abuse, and mentoring.”

    The Biden administration built on and extended those efforts.

    And in December 2018, Trump supported the so-called “First Step Act,” which passed Congress with bipartisan support. It funded efforts to reduce the likelihood that inmates would be convicted again after their release, including by providing addiction treatment, mental health care, education and job training.

    Trump also commuted the sentences of more than 90 people and pardoned more than 140 others. His use of clemency power was quite controversial, as some of its beneficiaries were Trump associates, such as Steve Bannon and Paul Manafort, who led Trump’s 2016 presidential campaign and had committed financial fraud.

    As far as the crime rate during Trump’s presidency, the Dallas Morning News reported that “During the first three years of Trump’s presidency, the violent crime rate per 100,000 population … fell each year. But, the Morning News – citing Politifact – said that in 2020, “the violent crime rate spiked,” though it was slightly lower than it had been in Obama’s final year in office.

    Crime and criminal justice in the next administration

    The next president will have choices to make about the crime and justice policies that the federal government will pursue and about whether to emphasize reform or harsh punishment. He or she will also have to decide whether, and how, the federal government should use grants and other funding, guidelines and enforcement to further those goals.

    Their records suggest that Harris and Trump would make very different choices about those and other crime and criminal justice issues.

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

    – ref. On crime and justice, Trump and Harris records differ widely – https://theconversation.com/on-crime-and-justice-trump-and-harris-records-differ-widely-240004

    MIL OSI – Global Reports –

  • MIL-OSI Global: Candidate experience matters in elections, but not the way you think

    Source: The Conversation – USA – By Charlie Hunt, Assistant Professor of Political Science, Boise State University

    Previously holding political office is an obvious advantage for candidates seeking votes. SDI Productions/E+/Getty Images

    Ever since he was chosen as Donald Trump’s running mate back in July, U.S. Sen. JD Vance, a Republican from Ohio, has come under a level of scrutiny typical for a vice presidential candidate, including for some of his eyebrow-raising public statements made in the past or during the campaign.

    One line of critique has persisted through the news cycles: that his lack of political experience may make Vance less qualified than others, including his opponent, Gov. Tim Walz of Minnesota, to be vice president.

    Do more politically experienced politicians have advantages in elections? And if they enjoyed such advantages in the past, do they still in such a polarized political moment?

    The answers are complicated, but political science offers some clues.

    Why experience should matter

    Previously holding political office, and for a longer period of time, is in some ways an obvious advantage for candidates making the case to potential voters. If you were applying for a job as an attorney, previous legal experience would be favorably looked upon by an employer. The same is true in elections: If you want to run for office, experience as an officeholder could help you perform better at the job you’re asking for.

    This approach has been taken by a number of high-profile politicians over the years. For example, in Hillary Clinton’s first campaign for president in 2008, the U.S. senator from New York and future secretary of state made “strength and experience” the centerpiece of her argument to the voters.

    Experience also might matter for the same reasons as incumbency – that is, when a candidate is currently holding the office they are seeking in an election. Incumbents typically have much higher name recognition than their challenger opponents, distinct fundraising advantages and, at least in theory, a record of policy achievement on which to base their campaigns. Even for nonincumbents, these advantages are more prevalent for previous officeholders rather than someone who is a newcomer to politics.

    Barack Obama and his family on Nov. 4, 2008, the day he won the presidential election, showing that a lack of political experience can be used as a benefit.
    Emmanuel Dunand/AFP via Getty Images

    Inexperienced, or an ‘outsider’?

    But Hillary Clinton was, of course, unsuccessful in her first bid for the Democratic presidential nomination in 2008. She was beaten by a relatively inexperienced candidate named Barack Obama; like Vance, Obama had served less than a full term in the Senate before running for higher office.

    Obama’s 2008 win shows that a lack of political experience can be leveraged as a benefit.

    One of the few things Obama and Donald Trump have in common is that both benefited from an appeal to voters as a political “outsider” in elections in which Americans were frustrated with the political status quo. As outsiders, they appeared uniquely positioned to fix what voters believed was wrong with politics.

    Does experience equal ‘quality’?

    The “outsider” label isn’t always a ticket to victory.

    In 2020, for example, voters were frustrated with the chaos of having a political outsider in the White House and turned to Joe Biden – possibly the most experienced presidential candidate in modern history at that point, with eight years as vice president and several decades in the Senate under his belt. Voters were hungry for political normalcy in the White House and made that choice for Biden.

    Does U.S. Sen. JD Vance’s lack of political experience make him less qualified than his opponent, Gov. Tim Walz of Minnesota, to be vice president?
    Scott Olson/Getty Images

    Political science has other important lessons about when experience matters and when it doesn’t. In Congress, electoral challengers – those running against incumbents – enjoy more of a boost from prior experience in places such as the state legislature. In fact, the typical indicator for challenger “quality” used in political science research is a simple marker of whether the challenger has prior political experience.

    But even this finding is more complicated than it seems: Political scientists such as Jeffrey Lazarus have found that high-quality – that is, politically experienced – challengers do better in part because they are more strategic in waiting for better opportunities to run in winnable races.

    Experience matters only sometimes – and maybe less than ever

    The usefulness of a lengthy political resume also depends on which stage of the election candidates are in.

    Research has found, for example, that a candidate’s experience matters much more in settings such as party primaries, where differences between the candidates on policy issues are typically much narrower. That leaves nonpolicy differences such as experience to play a bigger role.

    In the general election, voters supportive of one party are unlikely to factor candidate experience in that heavily, even, or especially, when the candidate they support lacks it.

    The political science phenomenon known as negative partisanship means that, more and more, voters are motivated not by positive attributes of their own party’s candidates but rather by the fear of losing to the other side. This has only been exacerbated as the two parties have polarized further.

    Voters are therefore more willing than ever to lower the standards they might have for their favored candidates’ resumes if it means beating the other side. Even if a Democrat is clearly more qualified than a Republican in terms of political experience, that advantage is unlikely to sway many Republican voters, and vice versa.

    What about 2024?

    In 2024, the experience factor is complicated. Trump, of course, has been president before – the ultimate prior experience for someone running for exactly that office.

    But he has continued to run as an outsider from the political establishment, casting Kamala Harris – who, as vice president, has little actual institutional power – as an incumbent who is responsible for the current state of the country. Since polls show consistently that a majority of Americans believe the country is not headed in the right direction, we can see why Trump might try to frame the race in this way.

    Whether Trump’s strategy ends up working will be more apparent after the election is over. For now, Trump and Harris can rest assured that most of their supporters don’t appear to care how much – or how little – experience they have.

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

    – ref. Candidate experience matters in elections, but not the way you think – https://theconversation.com/candidate-experience-matters-in-elections-but-not-the-way-you-think-240191

    MIL OSI – Global Reports –

  • MIL-OSI Global: Color complexity in social media posts leads to more engagement, new research shows

    Source: The Conversation – USA – By Vamsi Kanuri, Associate Professor of Marketing, University of Notre Dame

    If you work in digital marketing, you don’t need to be told a picture’s worth a thousand words. More than half of content marketers say images are crucial for achieving their social media goals, and a staggering 70% of users prefer image-based posts over text, surveys have found.

    But which types of visuals work best? While anecdotal evidence abounds, systematic research on this topic is scarce.

    As a professor of business who knows the issues social media managers face while picking images for their posts – and who collected thousands of Facebook posts from two organizations in different industries – I saw an opportunity.

    Pigments and pixels

    Together with my colleagues Christian Hughes and Brady Hodges, I looked at what researchers call “color complexity.”

    Color complexity is similar to colorfulness, but it’s not quite the same: It’s measured as color variation across pixels in an image, and our brains process it subliminally. The more the brain has to decipher color variations across neighboring pixels, the harder it has to work.

    Fortunately, advanced computer vision technology makes it easier than ever to measure color complexity, and biometric eye-tracking makes it possible to see what images grab people’s attention in real time.

    We conducted four studies, looking at both real-world Facebook posts from two firms and experimental data using biometric eye-tracking. On the whole, we found that more complex images in social media posts tended to capture greater attention.

    However, there were some caveats.

    For instance, posts made later in the day and those with images that took up more screen space tended to benefit more from color complexity. This suggests that the timing and visual prominence of posts play a role in maximizing engagement.

    In addition, when images were paired with negative, feel-bad text, color complexity made less of a difference.

    We also found that pairing images with complex texts can actually strengthen the link between color complexity and user engagement. This surprising finding suggests that more intricate language might encourage people to pay more attention to the images.

    The complexities of color

    The importance of color in marketing, and its influence on everything from brand perception to purchase intentions, has long been well documented. Much less is known, however, about the role of color complexity in social media engagement. Our research is beginning to fill that gap.

    Overall, our findings underscore the importance of strategic image design in social media marketing. They suggest that a nuanced approach to image design, incorporating high color complexity where appropriate, can significantly enhance user engagement.

    For marketers and content creators, the implications are clear: Investing in the careful curation of social media images, especially those with high color complexity, can lead to better user engagement. Just be mindful of the timing and context, too.

    Vamsi Kanuri works for the University of Notre Dame.

    – ref. Color complexity in social media posts leads to more engagement, new research shows – https://theconversation.com/color-complexity-in-social-media-posts-leads-to-more-engagement-new-research-shows-240980

    MIL OSI – Global Reports –

  • MIL-OSI Global: How dogs were implicated during the Salem witch trials

    Source: The Conversation – USA – By Bridget Marshall, Professor of English, UMass Lowell

    An illustration of a court scene during the late-17th century witch trials in Salem, Mass. Christine_Kohler/iStock via Getty Images Plus

    I teach a course on New England witchcraft trials, and students always arrive with varying degrees of knowledge of what happened in Salem, Massachusetts, in 1692.

    Nineteen people accused of witchcraft were executed by hanging, another was pressed to death and at least 150 were imprisoned in conditions that caused the death of at least five more innocents.

    Each semester, a few students ask me about stories they have heard about dogs.

    In 17th century Salem, dogs were part of everyday life: People kept dogs to protect themselves, their homes and their livestock, to help with hunting, and to provide companionship.

    However, a variety of folklore traditions also associated dogs with the devil – beliefs that long predated what happened in Salem. Perhaps the most famous example of such belief is the case of a poodle named Boy who belonged to Prince Rupert, an English-German cavalry commander on the Royalist side during the English Civil War. Between 1643 and 1644, stories spread across Europe that Boy the poodle had supernatural powers, including shape-shifting and prophecy, that he used to aid his master on the battlefield.

    There is no mention in the official records of Salem’s trials of any dogs being tried or killed for witchcraft. However, dogs appear several times in the testimony, typically because an accused witch was believed to have had a dog as a “familiar” who would do her bidding, or because the devil appeared in the form of a dog.

    Numerous testimonies in the Salem trial records claim that dogs were in league with the devil, adding to the paranoia of this community that was spinning out of control.

    Associating the devil with the dog

    On May 16, 1692, a 45-year-old Amesbury, Massachusetts, man named John Kimball testified against Susanna Martin, a 71-year-old widow, saying, among other things, that she had caused a “black puppy” to appear before him when he was alone in the woods. Kimball testified that he was terrified by the dog, which he thought would tear out his throat. The dog disappeared when he began to pray.

    This, among other testimony, would contribute to Martin’s conviction for witchcraft in June 1692; she was hanged on July 19, 1692.

    In several instances recorded by the courts, accused witches confessed that the devil had appeared to them in the form of a dog. In September 1692, 19-year-old Mercy Wardwell testified that she had been conversing with the devil, and that he had appeared to her in the shape of a dog. Her confession caused her to be jailed, although she was later released when the hysteria died down.

    During the same proceedings that September, 14-year-old William Barker Jr. testified that the “shape of a black dog” appeared to him and provoked anxiety; soon after this, the devil appeared. It’s hard to know if he was suggesting that the dog was the devil himself or his companion.

    Barker confessed that he had “signed the devil’s book,” meaning that he had made a covenant with the devil and was a witch. Barker was jailed, though he would later be acquitted.

    Tituba, a woman of color enslaved in the Rev. Samuel Parris’ household, also testified about a dog. When she was examined by magistrates on March 1, 1692, Tituba recounted how the devil had appeared to her at least four times, “like a great dog” and as “a black dog.” She also said she saw cats, hogs and birds, an entire menagerie of animals working for the devil.

    An accused witch was believed to have a dog or another animal as a ‘familiar’ who would do her bidding,
    © The Trustees of the British Museum, CC BY-NC-SA

    Kimball’s, Wardwell’s, Barker’s and Tituba’s testimonies certainly may have contributed to the ongoing alarm that the residents of Salem were being led astray by a devil who might appear to them in the shape of a dog.

    Sketchy evidence

    Some popular accounts of the trials also suggest that at least two dogs were killed during the trials, but there is no evidence supporting this in the official legal testimony of the time. There is certainly some local legend that supports the claim, and many accounts of Salem have included these two dog deaths as a part of the story.

    According to local historical researcher Marilynne K. Roach’s 2002 book, “The Salem Witch Trials: A Day-by-day Chronicle of a Community Under Siege,” some of the afflicted girls claimed that a man named John Bradstreet had bewitched a dog. Although the dog was a victim, it was killed. Roach’s history also notes that another dog was shot to death when a girl claimed that the dog’s specter had afflicted her.

    Witchcraft belief at the time held that witches could send their “spectres,” or spirits, out to do their bidding.

    While these are compelling stories, neither of these events can be verified in any existing official trial documents. The source that Roach cites for the Bradstreet case is Robert Calef’s book “More Wonders of the Invisible World,” which was published in 1700. Calef, who was a Boston merchant, objected to how the trials were conducted. However, he was not present at the trials, and it is not clear what his source was for the dog stories. Such stories – and Calef’s uncited retelling of it – do not have the same authority as the legal documents in the case.

    The earliest account of a dog being shot for being a witch appears in a commentary on the Salem trials, “Cases of Conscience Concerning Evil Spirits,” published in 1693, in which the clergyman Increase Mather claims that “I am told by credible persons” that a dog was shot for bewitching a person.

    But significantly, Mather did not name the human victim or the person who told him the story. Surprisingly, Mather actually defended the dog, saying that the fact that they had successfully killed it meant that “this dog was no Devil.”

    Nearly every history of Salem recounts how when Samuel Parris’ daughters were having terrible fits that led people to believe they were bewitched, Tituba, the enslaved woman who lived in the household, baked a “witch cake” using urine from the afflicted girls and fed it to the family’s dog.

    Somehow, this was supposed to cause the dog to reveal the identity of the witch. Indeed, Reverend Parris condemned the ritual, which itself seemed to be its own kind of witchcraft.

    Fear and distrust

    All around, Salem’s witch trials seem to have been bad for dogs. Although there is no official legal evidence that dogs were killed for being witches, it’s clear that there were strong associations between dogs and the devil, and that dogs were sometimes treated poorly because of superstition.

    The Salem trials are a horrifying example of what happens when people use terrible logic and leap to indefensible conclusions with shoddy evidence. In an environment of fear and distrust, even man’s best friend could be suspected of dealings with the devil.

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

    – ref. How dogs were implicated during the Salem witch trials – https://theconversation.com/how-dogs-were-implicated-during-the-salem-witch-trials-239802

    MIL OSI – Global Reports –

  • MIL-OSI Global: Farms to fame: How China’s rural influencers are redefining country life

    Source: The Conversation – USA – By Mitchell Gallagher, Ph.D Candidate in Political Science, Wayne State University

    In the quiet backwaters of Yunnan, Dong Meihua – though her followers know her by the public alias Dianxi Xiaoge – has done something remarkable: She’s taken the pastoral simplicity of rural China and made it irresistible to millions. In her hands, a village kitchen becomes a stage, and the rhythms of farm life become a story as compelling as any novel. She is one of many rural influencers returning to their roots.

    In a digital revolution turning established narratives on their head, China’s countryside is emerging as an unlikely epicenter of viral content. Xiaoge is one of thousands of influencers redefining through social media how the countryside is perceived.

    Upending preconceptions of rural China as a hinterland of poverty and stagnation, this new breed of social media mavens is serving up a feast of bucolic bliss to millions of urbanites. It is a narrative shift encouraged by authorities; the Chinese government has given its blessing to influencers promoting picturesque rural images. Doing so helps downplay urban-rural chasms and stoke national pride. It also fits nicely with Beijing’s rural revitalization strategy.

    Hardship to revival

    To fully appreciate any phenomenon, it’s necessary to first consider the historical context. For decades, China’s countryside was synonymous with hardship and backwardness. The Great Leap Forward of the late 1950s and early 1960s – Communist China’s revered founder Mao Zedong’s disastrous attempt to industrialize a largely agrarian country – devastated rural communities and led to widespread famine that saw tens of millions die.

    The subsequent Cultural Revolution, in which Mao strengthened his grip on power through a broad purge of the nation’s intelligentsia, further disrupted customary rural life as educated youth were sent to the countryside for “reeducation.” These traumatic events inflicted deep scars on the rural psyche and economy.

    Meanwhile, the “hukou” system, which since the late 1950s has tied social benefits to a person’s birthplace and divided citizens into “agricultural ” and “nonagricultural” residency status, has created a stark divide between urban and rural citizens.

    The reform era of Mao’s successor, Deng Xiaoping, beginning in 1978, brought new challenges. As China’s cities boomed, the countryside lagged behind.

    Millions of rural Chinese have migrated to cities for better opportunities, abandoning aging populations and hollowed-out communities. In 1980, 19% of China’s population lived in urban areas. By 2023, that figure had risen to 66%.

    Government policies have since developed extensively toward rural areas. The abolition of agricultural taxes in 2006 heralded a major milestone, demonstrating a renewed commitment to rural prosperity. Most recently, President Xi Jinping’s “rural revitalization” has put countryside development at the forefront of national policy. The launch of the Internet Plus Agriculture initiative and investment in rural e-commerce platforms such as Taobao Villages allow isolated farming communities to connect to urban markets.

    Notwithstanding these efforts, China’s urban-rural income gap remains substantial, with the average annual per capita disposable income of rural households standing at 21,691 yuan (about US$3,100), approximately 40% of the amount for urban households.

    Enter the ‘new farmer’

    Digital-savvy farmers and countryside dwellers have used nostalgia and authenticity to win over Chinese social media. Stars such as Li Ziqi and Dianxi Xiaoge have racked up huge numbers of followers as they paint rural China as both an idyllic escape and a thriving cultural hub.

    The Chinese term for this social media phenomenon is “new farmer.” This encapsulates the rise of rural celebrities who use platforms such as Douyin and Weibo to document and commercialize their way of life. Take Sister Yu: With over 23 million followers, she showcases the rustic charm of northeast China as she pickles vegetables and cooks hearty meals. Or Peng Chuanming: a farmer in Fujian whose videos on crafting traditional teas and restoring his home have captivated millions.

    Since 2016, these platforms have turned rural life into digital gold. What began as simple documentation has evolved into a phenomenon commanding enormous audiences, fueled not just by nostalgia but also economic necessity. China’s post-COVID-19 economic downturn, marked by soaring youth unemployment and diminishing urban opportunities, has driven some to seek livelihoods in the countryside.

    In China’s megacities, where the air is thick with pollution and opportunity, there’s clearly a hunger for something real – something that doesn’t come shrink-wrapped or with a QR code. And rural influencers serve slices of a life many thought lost to China’s breakneck development.

    Compared with their urban counterparts, rural influencers carve out a unique niche in China’s vast social media landscape. Although fashion bloggers, gaming streamers and lifestyle gurus dominate platforms such as Weibo and Douyin, the Chinese TikTok, rural content creators tap into a different cultural romanticism and a yearning for connection to nature. In addition, their content capitalizes on the rising popularity of short video platforms such as Kuaishou and Pinduoduo, augmenting their reach across a wide demographic, from nostalgic retirees to eco-conscious millennials.

    But this is not simply digital escapism for the masses. Tourism is booming in once-forgotten villages. Traditional crafts are finding new markets. In 2020 alone, Taobao Villages reported a staggering 1.2 trillion yuan (around $169.36 billion) in sales.

    The Chinese government, never one to miss a PR opportunity, has spotted potential. Rural revitalization is now the buzzword among government officials. It’s a win-win: Villagers net economic opportunities, and the state polishes its reputation as a champion of traditional values. Government officials have leveraged platforms such as X to showcase China’s rural revitalization efforts to international audiences.

    Authenticity or illusion?

    As with all algorithms, there’s a catch to the new farmer movement. The more popular rural influencers become, the more pressure they face to perform “authenticity.” Or put another way: The more real it looks, the less real it might actually be.

    It raises another question: Who truly benefits? Are we witnessing rural empowerment or a commodification of rural life for urban consumption? With corporate sponsors and government initiatives piling in, the line between genuine representation and curated fantasy blurs.

    Local governments, recognizing the economic potential, have begun offering subsidies to rural content creators, causing skepticism about whether this content is truly grassroots or part of a bigger, state-led campaign to sanitize the countryside’s image.

    Yet, for all the conceivable pitfalls, the new farmer trend is an opportunity to challenge the urban-centric narrative that has dominated China’s development story for decades and rethink whether progress always means high-rises and highways, or if there’s value in preserving ways of life that have sustained communities for centuries.

    More importantly, it’s narrowing the cultural disconnect that has long separated China’s rural and urban populations. In a country where your hukou can determine your destiny, these viral videos foster understanding in ways that no government program ever could.

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

    – ref. Farms to fame: How China’s rural influencers are redefining country life – https://theconversation.com/farms-to-fame-how-chinas-rural-influencers-are-redefining-country-life-239540

    MIL OSI – Global Reports –

  • MIL-OSI: Paxful Modernizes P2P with Reinvented App and Brand, featuring AI-Enhanced Safety, Security, and Support

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., Oct. 15, 2024 (GLOBE NEWSWIRE) — Paxful, the global payment network for people-powered money announced a major upgrade to its brand and products for 14 million total Paxful users in over 140 countries:

    1. A totally reinvented mobile and web P2P trading experience, designed for smoother trades, getting you the right information at the right time, and keeping you secure.
    2. Dozens of core product updates including the industry’s lowest fees on cryptocurrency swaps, plus the addition of nearly a hundred new payment methods.
    3. Major improvements across safety, security, and support – merging the best of expert talent and the latest in AI.

    New Brand, New App, New Team – Same Mission

    Founded in 2015, today’s announcement represents the biggest change to Paxful’s brand and core products since its founding, and a breath of fresh air for peer-to-peer markets.

    Paxful’s modern rebrand emphasizes simplicity, delivered across updated web and mobile products, and is designed from the ground up based on years of marketplace data and daily user feedback.

    This inflection point comes as the team approaches 100 members around the globe under the leadership of Paxful CEO Roshan Dharia.

    Dharia says, “We built an incredible team that works tirelessly to connect with our users, improve our marketplace, and keep everyone safe. Then we listened, built, and optimized everything about Paxful, inside and out. The result is a brand new Paxful, with the best designed app in peer-to-peer, loyal to its founding mission: building a financial system for the 100%”

    The Best of Human Ingenuity and Cutting-Edge Technology

    Paxful is modernizing key areas of its business through the integration of AI, resulting in faster trades, more intuitive support, and enhanced scam prevention. By leveraging a substantial dataset of historical information alongside expert human input, Paxful’s AI tools are enabling the company to accomplish more with better results:

    • Safety – Paxful has strengthened its compliance and identity programs by integrating crypto forensics, layered identity screening, and process automation, all supported by a dedicated compliance team. These enhancements facilitate quicker onboarding while reducing risks like identity theft and blocking high-risk transactions, ultimately protecting users from known scams and maintaining the marketplace’s integrity.
    • Security – Supported by a global 24/7 support team, Paxful’s security suite continually scans thousands of data points from its marketplace to prevent scams. Repeat offenders are barred from rejoining, fostering a safer marketplace for all users.
    • Support – By pairing AI with expert moderators, Paxful has achieved resolution times that are 2.3 times faster than the industry average. This efficiency is complemented by newly launched features such as Live Chat support and a streamlined knowledge base available for self-service, ensuring that users retain access to the human touch in support interactions.

    About Paxful

    Paxful is the world’s largest people-powered marketplace, connecting over 14 million users across 140+ countries to move, earn, save, and store money – even without a bank account. Founded in 2015 and based in the United States, Paxful offers safe, fast, and reliable access to the global economy through cryptocurrencies bought and sold on a borderless peer-to-peer payment network. With over 300 payment methods for accessing Bitcoin, USDT, and other popular digital and local currencies, Paxful is building a financial system for 100%. 

    Users can visit Paxful at https://paxful.com

    For queries, users can visit reach out to media relations at email: press@paxful.com

    Contact

    Elliot Ledley
    Elliot@EnergentMedia.net

    The MIL Network –

  • MIL-OSI: ITS Logistics Distribution + Fulfillment Q3 Index: Increase in the Industrial Vacancy Rate of 6.4% Suggests Temporary Supply-Demand Imbalance In Market

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Oct. 15, 2024 (GLOBE NEWSWIRE) — ITS Logistics today released the Q3 ITS Logistics US Distribution and Fulfillment Index, Powered by Cresa. This quarter the index reveals that as of August 2024, the national industrial vacancy rate in the U.S. was approximately 6.4%, reflecting an upward trend from the previous months. That same month, the Logistics Manager’s Index (LMI) stood at 56.4, reflecting moderate expansion in the logistics industry, albeit a slight decrease (-0.1) from July’s reading of 56.5.

    “This trend of increasing vacancy rates suggests a temporary supply-demand imbalance as new developments outpace demand growth in certain regions,” said Ryan Martin, President of Assets for ITS Logistics. “The increasing vacancy rate is likely related to the drop in producer price index (PPI), suggesting that prices are softening for warehousing and storage services. As new supply continues to enter the market, especially in major industrial hubs, pricing pressure could persist unless demand accelerates, or development slows down.”

    A recent article from The Wall Street Journal referenced data retrieved from Cushman & Wakefield, confirming warehouse construction dropped to 309 million square feet in Q3, a 43% decrease from last year and the largest decline since 2008. In addition, the previously mentioned industrial real estate vacancy increase of 6.4% is up from 4.6% a year ago, which marks the highest level since late 2014. While the average asking rental rate for industrial space exceeded the $10 per square foot (psf) level for the first time in history at the close of Q3 at $10.08 psf, it showcases an increase of 4.3% year-over-year as some markets are continuing to experience increases in rent despite softer fundamentals than the past three years.

    “As it pertains to the LMI score, by comparison, in March 2024, the LMI was higher at 58.3,” continued Martin. “This indicated a faster rate of expansion earlier in the year. Between March and August, the slowdown in the LMI suggests that while logistics activities continued to grow, they did so at a decelerating pace. A notable factor during this period was the slight contraction in warehousing utilization and capacity, reflecting adjustments in supply chain management as the industry dealt with inventory fluctuations and cost pressures.”

    While the industry prepares for the close of the year, both UPS and FedEx have released their 2024-2025 peak season surcharges, which will significantly impact high-volume shippers. UPS and FedEx will begin applying these fees this month, including both peak and demand surcharges. Surcharges range from $0.30 to $100 per package, depending on the characteristics of the package and the data it ships. Both carriers are targeting businesses that ship over 20,000 packages per week. To manage these increased costs, ITS suggests companies review their peak season data and adjust their shipping strategies accordingly.

    ITS Logistics offers a full suite of network transportation solutions across North America and omnichannel distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, and outbound small parcel.

    The ITS Logistics US Distribution and Fulfillment Index tracks the Producer Price Index (PPI) for Warehousing and Storage and offers a regional markets overview to optimize warehousing and delivery costs. All major markets in the US are highlighted each quarter via the Index. Visit here for a full, comprehensive copy of the index with expected forecasts for the US distribution and fulfillment sector of the supply chain industry.

    About ITS Logistics
    ITS Logistics is one of North America’s fastest-growing, asset-based modern 3PLs, providing solutions for the industry’s most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America’s #19 asset-lite freight brokerage, the #12 drayage and intermodal solution, a top 50 dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network.

    Media Contact
    Amber Good
    LeadCoverage
    amber@leadcoverage.com

    A photo accompanying this announcement is available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c719ccdb-3861-4286-b49f-60b2258dbb0b

    The MIL Network –

  • MIL-OSI: CleanChoice Energy To Double its Solar Generation Assets by Acquiring Project in Kylertown, Penn.

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — CleanChoice Energy (“CleanChoice”), the first company in the U.S. that both owns solar generation assets and supplies only 100% clean energy to consumers, announced the acquisition of its second fully owned and operated solar project. Located in Kylertown, Penn., the solar project will have the capacity to supply over 5,100 homes with renewable energy. This news comes one year after the company announced the development of its first solar project, which is nearing completion in Blairs Valley, Penn., and will generate enough energy to power the equivalent of 4,500 homes.

    Construction of the 150-acre Kylertown solar project is expected to begin in Q4 2024, with a planned interconnection date of October 2025. It will have a capacity of 29.42 MW. When completed, the solar farm will interconnect to the PJM electric grid, which supplies energy to utilities in Pennsylvania, New Jersey and regions throughout other surrounding states.

    “Our project in Kylertown will double CleanChoice Energy’s solar generation assets, as well as demonstrate how responsible renewable energy generation can support the local community and wildlife,” said Zoë Gamble, President of CleanChoice. “This is part of our long-term strategy to support the growth of 100% green energy in the U.S. and make it more accessible to people – a solution that is critically needed as we all face the dire consequences of climate change.”

    CleanChoice is acquiring the project from Prospect14, which led the siting and greenfield development. “This project is an excellent example of the positive benefits that solar energy brings to Pennsylvania’s local communities, energy consumers, and landowners,” says Carl Jackson, Partner of Prospect14. “We are thrilled that this solar project will be carried forward by a partner who operates at high standards and takes care of the land and community.”

    The Kylertown solar project is the second in a number of projects in the pipeline for CleanChoice as owner-operator. CleanChoice continues to develop greenfield sites and pursue acquisition of large-scale solar projects across the Northeast and Mid-Atlantic regions.

    For more information, visit http://www.cleanchoiceenergy.com.

    ABOUT CLEANCHOICE ENERGY
    CleanChoice Energy is one of the leading 100% renewable energy suppliers in the U.S., building solar farms and providing consumers with alternative ways to access clean energy. CleanChoice is defining farm-to-table clean energy, making it easy for people to live cleaner lives with pollution-free, renewable energy for their homes and businesses. With CleanChoice, every kilowatt of electricity used is replenished onto the grid with 100% clean energy from regional wind and solar projects. Founded in 2012, CleanChoice has become one of the fastest-growing businesses in America, as ranked on the Inc 5000 and Deloitte’s Technology Fast 500™. CleanChoice Energy is majority-owned by Funds managed by True Green Capital Management LLC. For more information or to become a clean energy customer, visit CleanChoiceEnergy.com.

    ABOUT PROSPECT14
    Founded in 2017 and headquartered in Ardmore, Pennsylvania, Prospect14 focuses on the scaled origination and development of distributed solar energy projects in multiple markets in the United States. Since its inception, Prospect14 has originated more than 6.5 GWdc of solar and solar + storage projects. For more information, please visit http://www.prospect14.com.

    Media Contact:

    Debbie Ehrman
    FINN Partners
    CleanChoiceEnergy@finnpartners.com

    Kate Colarulli
    Chief Corporate Development Officer
    Mobile: +1 202 380 8936
    kate.colarulli@cleanchoice.com

    The MIL Network –

  • MIL-OSI Africa: Cardinal Fridolin Ambongo: “The Church cannot remain silent in the face of the illegal exploitation of mineral resources in Africa”

    Source: Africa Press Organisation – English (2) – Report:

    ROME, Italy, October 15, 2024/APO Group/ —Metropolitan Archbishop of Kinshasa, DR Congo
    President of the Symposium of Episcopal
    Conferences of Africa and Madagascar (SECAM)

    [1] CENCO, “NEW WINE, NEW WINESKINS” (Mk 2, 22) Do not disappoint the nation’s expectations, Message from the National Episcopal Conference of Congo on the occasion of the 43rd Plenary Assembly, Kinshasa, Edition of the General Secretariat of CENCO, n. 11. L

    MIL OSI Africa –

  • MIL-OSI USA: Speaker Johnson Joins Multiple Sunday Shows

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — This morning, Speaker Johnson joined CBS News’ Face the Nation and NBC News’ Meet the Press to discuss the ongoing federal response to Hurricanes Helene and Milton. The Speaker also discussed election security and the 2024 election process. 

    Click here to watch the NBC interview, and here to watch the CBS interview

    On the ongoing federal response to Hurricanes Helene and Milton:

    Remember, the day before Hurricane Helene hit and made landfall in Florida, and then went up through the states and wound up in Senator Tillis’ state of North Carolina, Congress appropriated $20 billion additional to FEMA so that they would have the necessary resources to address immediate needs, and so we put that into the coffers. I just checked Margaret, as of this morning, less than 2% of that funding has actually been distributed, right around 2% of it, so we need FEMA to do its job. Those funds, that money, is provided so that storm victims can have the immediate necessities met. And then what happens after every storm is that the states have to assess and calculate the actual needs, and then they submit to Congress that request. As soon as that is done, Congress will meet and in bipartisan fashion, we will address those needs. We’ll provide the additional resources. 

    But it would be premature to call everyone back now, because these storms are so large in their scope and magnitude, it’s going to take a little bit of time to make those calculations. In North Carolina, I was there in the worst hit areas around Asheville with Senator Tillis and Senator Budd, Chuck Edwards, the congressman that represents that area. The devastation is broad, and people were still being rescued 13 days out from the storm. That was just a few days back. So, they still have a lot to do. It’s going to take a long time to make those calculations, but Congress is ready to act, and we will.

    On the SBA Loan program:

    Congress will not leave small business owners wanting. I am a small business owner and I’m from a hurricane prone state, Louisiana. We’re kind of experts in this disaster recovery. The SBA loan, as you indicated, is a small interest loan that helps people bridge the gap and get back on their feet. But importantly about that program, it is a supplement to private insurance and other disaster relief funding. And so, by definition and necessity, it takes a few weeks to calculate it. Now, Congress is expected to come back. We’re already scheduled to come back right after the election. We’re 23 days out from the election. That will coincide almost perfectly, I think with the time for most of these applications to even begin and many of them to be processed. Now, FEMA has received thousands of applications already, and they’re going through that laborious process of affirming and confirming it.

    But when the time is needed, we will cover the needs of small businesses. Congress is all on board. Remember, one day before Helene made landfall, we appropriated $20 billion additional dollars to FEMA so they would have the resources to address urgent needs. But I’ll say this, it’s very important to note. As of yesterday, roughly 2% of those funds had been distributed. We need the Biden-Harris administration to get about the business of distributing the funds that Congress has already set aside. That is a really important thing. People are hurting. I’ve been on the ground in the most affected disaster areas, Florida, North Carolina. They really need the help.

    On 2024 election security: 

    I’m a constitutional law attorney. I’ve dedicated my life, devoted my life and demonstrated every day that I will uphold the Constitution. We are going to do our job in Congress. A free and fair and legal election will be certified. And that is our hope and prayer across the board. Of course, I’m going to follow the constitution. I’m going to follow the law. That’s my job. It’s my duty. I took an oath to do that. And I’ll fulfill my oath.

    The point is the process works. We had the peaceful transfer of power, we did in 2020. We will in 2024. Everybody can sigh and take a deep breath. Our system is going to work. We have the greatest system in the history of the world because we live in the greatest country in the world. But that last part is in jeopardy right now. This is a decisive election, and everybody knows it. And that’s why we’re going to be given the chance to run this country again. We’re going to turn it around and I can’t wait.

    MIL OSI USA News –

  • MIL-OSI Africa: Alizz Islamic Bank Partners with the International Islamic Trade Finance Corporation to Support the Private sector in Oman

    Source: Africa Press Organisation – English (2) – Report:

    MUSCAT, Oman, October 15, 2024/APO Group/ —

    Reinforcing its position as one of Oman’s most dynamic Islamic Wholesale Banking institutions, Alizz Islamic Bank has recently signed an agreement with the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org). This partnership is set to provide Shari’a compliant financing solutions, further enhancing the bank’s commitment to offering innovative and ethical financial services in alignment with Islamic principles. 

    The agreement was officially signed by Mr. Ali Al Mani, CEO of Alizz Islamic Bank and Eng. Hani Salem Sonbol, CEO of ITFC in the presence of a number of senior officials from both organisations. 

    Speaking about the agreement, Mr. Ali Al Mani, CEO of Alizz Islamic Bank said: “We are delighted to be the first bank in Oman to partner with the ITFC. Partnering with innovative and leading organisations in their respective fields is an important part of our strategy and we are proud to be pioneers in providing innovative trade financing solutions. Our customers are at the forefront of everything we do and aligning with strategic partners enables Alizz Islamic Bank to enhance our trade solutions and correspondent network which in turn can enable us to offer competitive working capital financing pricing.” 

    Commenting on the  agreement, Eng. Hani Salem Sonbol, CEO of ITFC , and Acting CEO of  ICD stated “We are pleased with our partnership and strategic relationship with Alizz Islamic Bank. This is our first collaboration in Oman and is poised to play a pivotal role in advancing Shari’ah compliant financial services in the country.  Through this agreement, we aim to strengthen the private sector role in the economy, particularly by enhancing access to finance for small and medium-sized enterprises (SMEs). Supporting SMEs is a core pillar of the ITFC mission, and we are confident that this partnership will help drive economic growth, create job opportunities, and foster sustainable development in Oman”. 

    MIL OSI Africa –

  • MIL-OSI Europe: Hamburg Sustainability Platform – New alliances are needed to provide blended finance at scale (15 Oct. 2024)

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

    Public-private stakeholder coalition kicks-off joint work to scale up private SDG investment in emerging markets and developing economies: At the Hamburg Sustainability Conference, a coalition of private and public institutions announced to join forces to set up the Hamburg Sustainability Platform. This platform aims at scaling sustainable investments into emerging markets and developing economies through standardization.

    The Sustainable Development Goals (SDGs), as well as the climate and biodiversity goals, cannot be achieved with public funds alone. More private investment is urgently needed, especially in emerging markets and development economies. To close this financing gap, it must become easier for private investors to invest. Blended finance provides efficient mechanisms to address this challenge. This is the aim of an alliance of public and private stakeholders, the Hamburg Sustainability Platform (HSP), announced at the Hamburg Sustainability Conference.

    The German Ministry of Economic Cooperation and Development, (BMZ); the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO); Global Affairs Canada; the Danish Ministry of Foreign Affairs; Treasury of the Republic of South Africa; the Secretary of State in charge of International partnerships of France; the German Development Bank KfW; British International Investment (BII); as well as Allianz and Caisse de dépôt et placement du Québec (CDPQ) are partnering to jointly develop the Hamburg Sustainability Platform. The Organisation for Economic Co-operation and Development (OECD) acts as an advisory body to the platform.

    Sustainable investments in emerging markets and developing economies have so far been for the pioneers in the private sector: while promising investment opportunities exist, large institutional investors such as pension funds or insurance companies rarely invest at scale. This is because implementation takes a long time, as preparations can take several years and financial products are often very complex. To make it easier for private investors to invest at scale, it would be necessary to pool the funds of public donors and standardize financial vehicles.

    As a solution, the HSP aims at better combining public and private investments through standardized financial products as well as harmonized public strategies. The initiative thereby aims to enhance simplicity, replicability and efficiency, thus enabling considerable additional investment volume.

    Standardization is a key enabler of operational efficiency. By delivering simplicity, efficiency and speed, volume becomes possible. Standardization acts like a common language, combatting fragmentation and accelerating procedures. It could therefore be an important step to help scaling private investment. This is recognized and demanded by different institutions and initiatives such as the UN-convened Net-Zero Asset Owner Alliance (NZAOA), the OECD, as well as the B20 Finance & Infrastructure Working Group. Nevertheless, standardization is currently lacking in blended finance.

    The HSP was announced at the inaugural Hamburg Sustainability Conference, held on 7-8 October. Under the motto “together we co-create development”, the Hamburg Sustainability Conference challenges barriers to SDG implementation. It establishes a new global forum to speed up progress towards achieving the SDGs and deliver result-oriented solutions. The annual conference is a joint initiative of the United Nations (UNDP), the German Federal Ministry of Economic Cooperation and Development (BMZ), the Michael Otto Foundation and the City of Hamburg.

    On their motivations for the HSP, the founding members have said:

    Anneliese Dodds, Minister for Development and Minister for Women and Equalities, United Kingdom’s Foreign, Commonwealth & Development Office: “Meeting the Sustainable Development Goals will require trillions of dollars of additional public and private investment into emerging markets and developing economies. To get private capital moving quickly and at scale, investors need to be able to compare options and make decisions with confidence. That’s why the UK is pleased to support the Hamburg Sustainability Platform, which will focus on scaling up sustainable investment into the regions that need it most, by providing standardized investment products in a clear and simple format.”

    Jochen Flasbarth, State Secretary of the German Federal Ministry of Economic Cooperation and Development: ”The SDGs represent an unprecedented global consensus and as such, a joint mission of public and private stakeholders. We need to join forces to make this mission heard. Over the past years, numerous good examples of blended finance vehicles have been set up. It is now time to identify those success cases, standardize, and scale them. This is what the Hamburg Sustainability Platform stands for. It is a great example of how the German government enhances international partnerships and how development cooperation efficiently uses market mechanisms to co-create impact. “

    Thani Mohamed Soilihi, French Secretary of State for Francophonie and international partnerships: “We need to boost financing capacities if we collectively want to achieve United Nations Sustainable Development Goals (SDGs), and this requires far more private sector leveraging. This is a priority for France, that we are pursuing with 66 partners through the Paris Pact for People and Planet. In that perspective, the Hamburg Sustainability Platform plays an important role and we hope it will bolster current efforts to scale sustainable investments and deliver tangible results.”

    Lina Gandløse Hansen, State Secretary for Trade and Investments, Ministry of Foreign Affairs, Denmark: “We need to bridge the financing gap to deliver on the SDGs and the Paris agreement. The numbers tell a clear story: We are far off track. We need all hands on deck and the private sector must play a key role. We need to deliver scale and replicable models. The Hamburg Sustainability Platform can play an important role. Denmark is looking forward to bringing our strong focus on innovative financing to the table and explore synergies, not least with the work in the Investment Mobilization Collaboration Alliance (IMCA) which aims at mobilizing billions of USD in private capital in support of climate action.”

    Mmakgoshi Lekhethe, Head of Asset and Liability Management at the National Treasury of the Republic of South Africa: “We need impactful solutions and investments on a global scale. And for investments to be impactful, private and public sector need to work together. Development efforts can only be sustainable in the long run if we succeed in mobilizing private markets for our goals. The Hamburg Sustainability Platform can become a key lever on this mission.”

    Patricia Peña, Associate Assistant Deputy Minister, Global Affairs Canada: “Setting up the Hamburg Sustainability Platform involves learning from and working with existing solutions, ensuring what we put forward and how we work together adds value and avoids duplication. Recognising the need to cooperate more efficiently with other donors and private investors from an early stage, the Hamburg Sustainability Platform could become a key tool to enhance donor cooperation and address existing challenges in blended finance.”

    Claus Stickler, Global Co-Lead at Allianz Investment Management: “Speed and scalability are key success factors in achieving sustainable change globally, including for example accelerating the deployment of renewable energy in emerging markets. The Hamburg Sustainability Platform can help simplify the creation and management of blended finance vehicles, thereby increasing their investability. Let’s work together to create this important platform for real action.”

    Vito Dellerba, Managing Director, Sustainable Investing at CDPQ: “Templates and standardized frameworks for financial returns and impact – initiatives highlighted by the Hamburg Sustainability Platform – facilitate timely and knowledgeable decisions by providing streamlined and consistent information. In addition, it has the potential to boost market efficiency by enhancing risk management practices, lowering transaction costs and increasing liquidity.“

    OECD Deputy Secretary-General Mary Beth Goodman: “The OECD supports the Hamburg Sustainability Platform in an advisory role. Promoting innovative approaches to scaling up private capital mobilization in Emerging Market and Developing Economies is core to the work of the OECD. As a convener, we will be a partner in driving this initiative forward. Based on the OECD’s work in harmonising blended finance approaches, and with standardization featuring prominently in the current update of the Blended Finance Principles Guidance, the OECD can be a key contributor of this initiative.”

    Christiane Laibach, Member of the Executive Board of KfW: “We have all learnt valuable lessons from the past twenty years of blended finance and impact investment. But to reach scale, we need to join forces, agree on common models based on these lessons and roll them out in a predictable and standardized manner. This is the objective of the Hamburg Sustainability Platform.”

    Liz Lloyd, Chief Investment Officer at BII: “Unlocking private capital is critical to meet the twin challenges of development and the climate emergency. One important way to do that is through innovative blended finance, using concessional public finance to encourage private investment to achieve the SDGs. We are pleased to collaborate with others to reach a common approach to blended finance, to help mobilize private capital into sustainable investments at scale.“

    MIL OSI Europe News –

  • MIL-OSI USA: Governor Murphy Announces Second Round of Medical Debt Elimination, Totaling $120 Million in Debt Abolished for 77,000 New Jerseyans

    Source: US State of New Jersey

    Nearly two months after effectuating the first round of medical debt abolishment through the State’s partnership with Undue Medical Debt, Governor Phil Murphy today announced that 77,000 eligible individuals and families across New Jersey are set to benefit from the elimination of an additional $120 million in medical debt. Governor Murphy sat down with Andrew Rose Gregory, who was a special guest at the 2024 State of the State Address, to discuss the announcement. Andrew and his wife, Casey, partnered with Undue and raised $1.1 million following her passing to help eliminate medical debt for others. The video is available here.

    By leveraging approximately $900,000 in American Rescue Plan funds, Undue has worked with the Atlantic Health System to identify and purchase qualifying, unpayable medical debts. Impacted residents may have all or some of their debts abolished as part of the Governor’s mission to make health care more affordable and accessible. Through the State’s partnership with Undue, $220 million in medical debt has been eliminated for 127,000 New Jersey residents so far.

    “Investing in affordable and accessible health care allows residents to prioritize their well-being without having to take on the significant burdens of medical debt, which has long served as a debilitating barrier to receiving the life-saving care and services they deserve,” said Governor Murphy. “That is why our Administration has taken action to both protect residents from accumulating debt and eliminate existing debt so that New Jerseyans can focus on what matters most: their health. Today’s announcement marks a monumental step forward and builds upon our efforts to create a health care system that relieves financial constraints and ensures quality, comprehensive care is within reach of every New Jerseyan.”

    “With Governor Murphy’s persistent focus on health care affordability and access for New Jerseyans, we are pleased to announce another round of medical debt abolishment for tens of thousands of residents and families,” said Shabnam Salih, Director of the Office of Health Care Affordability and Transparency. “Today’s announcement is lifting the burden of $120 million in debt off their shoulders, helping to bring some peace of mind and comfort next time they have to see a doctor or visit the hospital for care.”

    Earlier this year, the Governor signed the Louisa Carman Medical Debt Relief Act, which safeguards New Jersey families from accumulating medical debt, protects against predatory medical debt collectors, and prohibits the reporting of medical debt to credit reporting agencies. New Jersey is a leading state in consumer protection policies and supports for residents, being one of only five states in the nation that both prohibits medical debt reporting to credit agencies and has allocated funding to provide residents with direct medical debt relief.

    “We’re proud to partner with the state of New Jersey, Governor Murphy and Atlantic Health on this impactful medical debt abolishment that follows closely on the heels of the initial $100 million of medical debt already erased,” said Undue Medical Debt CEO and president Allison Sesso. “New Jersey is a great example of a state that’s erasing medical debts weighing down its most financially burdened residents while also taking legislative action to lessen the burden of medical debt overall.”

    “As Casey and I prepared for her to die in home hospice, we decided that after her death we would raise money to forgive others’ medical debt in her honor. We were keenly aware of how lucky we were that our finances hadn’t been demolished by America’s health care system during Casey’s long and arduous treatment. Casey’s corporate insurance through her work as a publisher at Penguin Random House had been our shield. But we had met so many other patients and families that were not so lucky as us, and had gone into debt or even denied care because of a lack of insurance,” said Andrew Gregory. “In the last weeks of her life, Casey and I often listened to the Stevie Wonder song Come Back as a Flower: I wish that I could come back as a flower / as a flower / to spread the sweetness of love. As news of Casey’s death, and her wish to forgive others’ medical debt, spread across the world after she died, her campaign raised $1.1 million, forgiving almost $45 million with at least $65 million more of un-payable medical debt still slated to be relieved. She is no longer with us but I still say to her, Casey, Casey, you have come back as a flower.”

    There is no application process for medical debt relief. Undue works with hospital systems across the country to purchase large, bundled portfolios of past-due medical debt belonging to those least able to pay for pennies on the dollar. Instead of trying to collect, Undue erases the debt.

    “When I received my letter [notifying] me that my medical expenses were covered, I felt so blessed and happy. I’m a single mom; I had to take a leave of absence so that I could have surgery and I have no way to pay my medical bills. I work so hard in this country, but it is really difficult to [pay] for my house and bills without any assistance. Thank you so much, Governor Phil Murphy,” said Brunilda from Newark, NJ, one of almost 50,000 New Jerseyans to have medical debt abolished this August.

    “Thank you for helping. I lost my job and then got terribly sick. I couldn’t afford medication, couldn’t afford to pay rent and my bills were coming in back-to-back. I’m trying to get my financial situation back together and this really does help me. Thank you,” said Angela from Dover, NJ, one of almost 50,000 New Jerseyans to have medical debt abolished this August.

    “Like many families throughout the United States, I worked a job for 25+ years that did not offer health benefits. I often had to make a strategic decision about whether my illness or injuries were worth visiting the hospitals or doctor for. Living off of minimum wage, taking care of my ailing mother, paying rent and other expenses — it was just impossible for me to pay my hospital bills. Even with expensive health insurance, high co-pays make it difficult for many American families to [afford care]. Thank you, Undue, for relieving me of this burden. For once, [I felt] great joy finally receiving some good news in the mail!” said Antoinette from Jackson, NJ, one of almost 50,000 New Jerseyans to have medical debt abolished this August.

    Those who qualify for medical debt relief are either four times or below the federal poverty level or have medical debts that equal 5% or more of their annual income. These are the only criteria for relief. For this round of debt abolishment, Undue worked with Atlantic Health System to identify unpaid medical debts that qualify for erasure. This is a one-time abolishment to help remove the financial and emotional burden of unpayable medical debts. Medical debt relief is source-based, depending on community-minded providers like hospitals who choose to engage. 

    Those benefiting from medical debt relief will receive an Undue branded letter in the mail beginning Thursday, October 17, 2024. Learn more about Undue here.

    MIL OSI USA News –