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  • MIL-OSI USA: Shaheen Speaks Out Against Trump Nominee Russell Vought, Calling Him Unfit and Unqualified to Serve as OMB Director

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) delivered remarks on the Senate floor opposing the nomination of Russell Vought, the chief architect of Project 2025, a radical, right-wing agenda, to serve as Director of the Office of Management and Budget. You can watch her full remarks here.  

    Key Quotes from Senator Shaheen:

    • “Either the OMB, under Russell Vought’s direction, deliberately stopped funding for 2,600 programs, for water and sewer projects, for housing, for meals for seniors, or they were so incompetent that without meaning to they sent a memo to the whole federal government that had that effect.”
    • “There’s no question that Russ Vought and President Trump intend to take away some of the funding that Congress has provided on a bipartisan basis to help families in New Hampshire and around the country save money.”
    • “It’s beyond ridiculous that anyone could propose these cuts with a straight face, while also supporting trillions of dollars in tax breaks for the wealthiest individuals and corporations in this country.”
    • “It’s important to all Americans to make sure that our government runs effectively and efficiently, but indiscriminately freezing hiring across the board, pushing out thousands of civil servants, makes that problem worse not better.”
    • “We’re not talking about political appointees here. We’re talking about the people who write the checks at the Social Security Administration, about the caseworkers at the Department of Housing and Urban Development who make sure that people have roofs over their heads and food to eat. We’re talking about doctors and therapists at VA hospitals who work around the clock to provide lifesaving care and benefits to the veterans who have sacrificed so much for our country and program operators at the Small Business Administration.”

    Remarks as delivered can be found below:

    I’d like to go back to my concerns about the nomination of Russ Vought to be the head of the Office of Management and Budget, because that’s an office that determines the services that millions of families and small businesses rely on. 

    And yet, he supported unilaterally taking away those services and help for more than 2,600 federal programs that were ordered to cease activities with less than 24 hours notice. 

    And in every state in the country, we heard confusion and panic and chaos. 

    Since then, I’ve heard from thousands of Granite Staters who are worried about what those cuts mean for them and their families. 

    I’ve heard from health care providers, from our community health centers, from our nonprofits, from our police departments, from so many people who provide services to the state of New Hampshire. 

    And it’s now been more than a week, and despite not one but two federal judges ordering the Trump Administration to stop holding up funds, we are still hearing reports of frozen payment systems and missed reimbursements. 

    Now, I know my Republican colleagues are hearing those concerns too. 

    But despite this outpouring, we’re still here today contemplating confirming Russell Vought, the architect of this reckless, unprecedented and misguided policy. 

    He was directly involved in drafting the memo that OMB sent out that started all of this last Monday. 

    That memo was so extreme that it provoked concern and outrage from both sides of the aisle about the breadth of payments that were being halted. 

    Russ Vought then had to walk back parts of the memo that he’d worked on just the day before. 

    And all of this happened, and he wasn’t even a confirmed nominee. 

    So, I’m very worried about what he’s going to do if he actually gets confirmed for this job. 

    We know that what we saw last week was just a short preview of what he plans to do. 

    And the justification that we’ve heard since that memo is that that memo wasn’t meant to cut off funding to all of the programs that saw their funding halted. 

    It wasn’t meant to stop Medicaid in every state or to shut down HUD’s system of rental assistance or homelessness funding. 

    But I’ll tell you, if that’s your defense, that just means that OMB sent a memo that was so poorly drafted that agencies across the federal government thought it required them to cut off all these programs that people and towns depend on. 

    So, either the OMB under Russell Vought’s direction, deliberately stopped funding for 2,600 programs for water and sewer projects, for housing, for meals for seniors, or they were so incompetent, that without meaning to, they sent a memo to the whole federal government that had that effect. 

    Well, regardless of which answer it is, I think the person who’s behind that, Russ Vought, the man leading that effort, should not be running the Office of Management and Budget that determines how funding goes out in the federal government. 

    And I think this is especially true because there’s no question that Russ Vought and President Trump intend to take away some of the funding that Congress has provided on a bipartisan basis to help families in New Hampshire and around the country save money on things like their energy bills, to help address pollution like PFAS. 

    And I would just remind folks that we passed the Bipartisan Infrastructure Law on a strong bipartisan vote—19 Republican senators voted with the Democrats to invest in our communities.  

    We worked shoulder to shoulder, Republicans and Democrats, to prioritize things like energy efficiency, water infrastructure, funding that this administration says it’s looking at cutting off, even though communities are depending on it. 

    Well, I plan to continue to stand up and defend funding that Congress provides to make necessary investments in all of our communities, and I hope my Republican colleagues will do the same. 

    And then this past weekend, we learned that Elon Musk, the world’s richest man, who’s never been elected, along with unelected, unconfirmed DOGE employees, the DOGE boys we call them, now have access to the payment system at the Treasury Department. 

    That is a system that processes more than $5 trillion worth of payments every year. 

    That’s everything from tax refunds and Social Security checks to reimbursing towns for work that they’re doing on sewers or roads. 

    They have access to Social Security numbers, to health information, and to so much more. 

    This is a system that the vast majority of people working at Treasury can’t access, and they shouldn’t be able to, because this is private information. 

    You may have heard that Treasury only gave “read only”, I say that in quotes, “read only” access.

    But if that’s the case, why is Elon Musk talking about using this access to stop payments to a charity that helps seniors with housing? 

    What’s he doing in the Treasury records anyway? 

    Why does he need that information? 

    This week, we’re hearing confirmation that Musk’s team didn’t just have “read access”. 

    In fact, they had administrator level access, giving them the ability to make changes to this payment system. 

    One specific Treasury employee refuted Treasury leadership’s denial that they gave a DOGE staffer “write access”, that’s the ability to change the code and to change the checks that get sent out by Treasury. 

    The employee said, and I quote, “I am looking at his access right now, and it has the Deputy Assistant Commissioner instructing the team to disregard all previous instructions and assign him,” the DOGE person, “read/write privileges for the database,” so he can change what’s in that database. 

    That doesn’t sound like “read only” access to me. 

    I think it’s unacceptable for an unelected billionaire to be taking over the payments system that our government relies on, that millions of Americans rely on, and trying to stop those payments. 

    Now, fortunately, the original OMB memo was rescinded. 

    But this fight is not over. 

    Instead, this access to the Treasury’s payment system could be the next front in stopping funds going out to the American people. 

    We can, and we do, intend to continue to push back on these illegal actions to stop funding that’s required by law. 

    And despite knowing better, Russell Vought has never shied away from his belief that the executive branch can disregard the law and override spending decisions that are made by Congress.

    He clearly believes that this administration should be above the law and should be able to take away funding that helps millions of Americans. 

    Russ Vought is the architect of Project 2025. 

    That proposed a budget that would cut Medicaid, just Medicaid, by $2.1 trillion over ten years.

     It would slash SNAP, the food program, by $400 billion. 

    We have people in New Hampshire who count on the SNAP program in order to be able to feed their kids. 

    His proposal would cut funding that helps low-income Americans go to college by more than $250 billion.

    It would eliminate the Affordable Care Act tax credits that help millions of Americans afford health care. 

    These are not cuts that lower costs. 

    These are not cuts that create jobs. 

    These are not cuts that enhance public safety and make it easier for people to afford their rent and their groceries. 

    It’s beyond ridiculous that anyone could propose these cuts with a straight face while also supporting trillions of dollars in tax breaks for the wealthiest individuals and corporations in this country. 

    You know, I’m not one to claim that the federal government can’t be run more efficiently. 

    I think we can always do everything better. 

    And it’s important to all Americans to make sure that our government runs effectively and efficiently, but indiscriminately freezing hiring across the board, pushing out thousands of civil servants, makes that problem worse, not better. 

    And last week, more than 2 million federal employees received emails offering to pay their salaries for the rest of the fiscal year in exchange for resigning now. 

    I mean, that in and of itself is questionable because this Congress hasn’t appropriated dollars to pay those employees. 

    And why would somebody who wants to improve effectiveness and efficiency in government, pay people to go home and not work? And that’s what this email said. 

    At the time, it included hundreds of thousands of individuals working in critical national security roles and included, for example, every single air traffic controller in the country, just days before we tragically saw the worst aviation incident in nearly 30 years. 

    Now, they’ve since walked that offer back, stating that it should not apply to employees who are critical to national security. 

    But, like the claim of the funding freeze, they say that that was always their intent, they must have made a mistake, but I’m not sure which option is worse. 

    That while we’re short more than 3,500 air traffic controllers, Russell Vought really wanted to pay the ones we do have not to work, or that he blasted out an irresponsible, reckless, non-targeted effort that could have had devastating consequences for critical positions without taking the time to think it through. 

    What’s more, they tried to convince us this offer will save money, making it clear that even if we lose thousands of key employees with no plans to replace them, we’ll be better off. 

    Well, tell that to the people in New Hampshire who are trying to get answers on their Social Security or their income tax checks. 

    Tell that to the students who need help with their FAFSA form so that they can apply and get help to go to college. 

    Vought has relentlessly attacked the millions of career civil servants who show up every day, no matter who’s in power, to keep the lights on and the wheels turning. 

    Some of these people have served our country for 30, 40, even 50 years through countless presidents and Congresses. 

    We’re not talking about political appointees here, we’re talking about the people who write the checks at the Social Security Administration, about the caseworkers at the Department of Housing and Urban Development who make sure that people have roofs over their heads and food to eat. 

    We’re talking about doctors and therapists at VA hospitals who work around the clock to provide lifesaving care and benefits to the veterans who have sacrificed so much for our country, program operators at the Small Business Administration who helps entrepreneurs get loans. 

    They’re the forest rangers who show up in all weather conditions in the White Mountain Forest in New Hampshire to ensure there is safe and enjoyable recreation opportunities for hundreds of millions of visitors to our national parks and forests.

    And speaking of the weather, they’re the meteorologists at the National Weather Service, the people we rely on to prepare for hazardous storms. 

    These employees contribute to the maintenance of nuclear submarines, which is an essential tenet of our national security, a crucial part of our capability to deter major conflicts. 

    And any impact to our shipyards, we have the Portsmouth Naval Shipyard between New Hampshire and Maine that does maintenance on our nuclear submarines, any impact to that workforce will strain our shipbuilding industrial base that’s already saturated with demand to meet the requirements of our Navy.

    So, why did they get an email giving those employees the option to resign? 

    This administration has said repeatedly that it wants to “restore the warrior ethos” at the Pentagon. 

    But if Russell Vought gets his way, there isn’t going to be anybody left at the Pentagon. 

    And now we’re hearing that Elon Musk’s team is plugging in to our air traffic control system. 

    The National Air Traffic Controllers Association has repeatedly asked for what they need: more funding, targeted investments and workforce development, shorter hours and upgraded technology. 

    We need to get to work in this Senate, in this Congress, on legislation that addresses these issues. 

    But handing the keys to the nation’s air traffic control system over to an unelected, inexperienced billionaire who cuts first and asks questions later, isn’t the solution. 

    Now, Russell Vought will tell you over and over again that government doesn’t work. 

    But he says this at the same time that he’s doing everything in his power to break it with zero regard for how that’s going to hurt you and your family. 

    And this week, we’ve seen and we’ve heard more horrifying parts of Russell Vought’s agenda. 

    He’s teaming up with Elon Musk. 

    And last year, for the first time, thanks to PEPFAR, more than half of new HIV infections were outside of Sub-Saharan Africa. 

    One of the most successful health programs ever in U.S. history, put in by George W. Bush.

    And one of the only things that has stood between Americans and so many of the diseases that come from overseas is USAID. 

    Now, I was listening to the prayer breakfast this morning, and I heard President Trump talking about his admiration for Billy Graham, for Franklin Graham, for the good work that they do. 

    Then a few minutes later, I heard the morning news, and I heard them talking about what’s happening in Sudan, where we have a famine and millions of people desperate because of the conflict there and what’s happening.

    And the news report said, if we don’t get our foreign assistance turned back on to help the Sudanese, eight million people are going to starve to death in the coming months. 

    I can’t imagine that Billy Graham or Franklin Graham support the idea of eight million Sudanese dying, because we’ve turned off the foreign assistance that we provided because Elon Musk doesn’t like the United States Agency for International Development. 

    I think Billy Graham and Franklin Graham, Billy Graham, when he was alive, and his son Franklin would say, these are also God’s children and it’s important for us to support people around the world who are dying. 

    And you know, it’s not just those kinds of situations like we have in Sudan. 

    We have significant diseases that are breaking out in parts of the world, and we don’t have people on the ground to make sure that the people who—the outbreak of Ebola that’s happening in Africa, some of us remember in 2014 when about what came to the United States—we don’t have any aid workers anymore because under Elon Musk’s order, they’ve shut down those programs. 

    They’re bringing those people home, so there’s nobody there to make sure that that Ebola outbreak doesn’t go across borders and doesn’t wind up in the United States. 

    There’s a Marburg outbreak, another hemorrhagic disease that’s happening in Africa. 

    It has a 90% mortality rate, and right now, we have no real treatment and no vaccination for the Marburg virus. 

    And yet again, we’ve taken our teams of people who help in-country to treat the Marburg virus and we’ve taken them home. 

    We’ve said, “go ahead cross whatever country lines you want. Come to the United States, because we’re not going to prevent that.” 

    And, you know, we’ve got a bird flu epidemic now. 

    You may have heard there’s a new strain that’s just been discovered in cows in Nevada. 

    We’ve had, about 70 people who have been infected with bird flu. 

    We’ve had somebody die from that. 

    We used to monitor bird flu outbreaks around the world, but under this shutdown of USAID and its programs, we’re not monitoring bird flu anymore. 

    So, that bird flu can come to the United States? 

    We don’t know. 

    Nobody seems to care in the Trump Administration if that happens. 

    These things don’t just happen overseas. 

    They affect us here in America. 

    It’s in our interest to ensure that these efforts that help with diseases, that help prevent Vladimir Putin and Russia from its nefarious activities in Europe, in Moldova, in Romania, in Ukraine—that’s also happened the aid to help Ukraine in this war against Russia.

    That’s all been cut off. 

    That doesn’t make America safer. 

    That doesn’t make us stronger.

    That doesn’t make us more prosperous. 

    I hope my colleagues will stand against Russell Vought, who has been the architect of so much of this carnage. 

    Sadly, I don’t think my colleagues on the other side of the aisle will do that. 

    And I hope that we can reverse some of this, harm that’s been done to so many people around the world that is going to come home to roost in America if we don’t address it. 

    So, Mr. President, I have taken all of my time. 

    I yield the floor.

    MIL OSI USA News –

  • MIL-OSI USA: North Carolina Museum of History Announces Casting Call for Revolutionary War Film Series

    Source: US State of North Carolina

    Headline: North Carolina Museum of History Announces Casting Call for Revolutionary War Film Series

    North Carolina Museum of History Announces Casting Call for Revolutionary War Film Series
    jejohnson6

    The North Carolina Museum of History is seeking actors for It’s Revolutionary!, an original video series commemorating the 250th anniversary of the American Revolution. This dynamic 20-part series will blend documentary storytelling with engaging narrative elements, bringing North Carolina’s revolutionary past to life for students, educators, and the public.

    It’s Revolutionary! is a multiyear educational initiative of the museum’s K-12 Outreach Branch, Beyond the Exhibits. This effort explores North Carolina’s role in the American Revolution through engaging programs, materials, and resources based on primary and secondary sources. It’s Revolutionary! also includes upcoming Educator Notebooks, online teacher workshops, History-In-a-Box kits and more. “This project brings history to life in a way that is both engaging and educational,” said Sally Causey Bloom, curator of education at the North Carolina Museum of History. “By combining documentary and narrative storytelling, we hope to spark curiosity and a deeper understanding of this pivotal chapter in our nation’s history. We want everyone to know that they make history, too!”

    SUBMISSION & CASTING DETAILS

    • Roles: Actors who can portray characters ages 17 to mid-50s; some roles require specific accents.
    • Submission Requirements: Headshot, resume, audition video (mp4 preferred), sizes, and measurements.
    • Audition Deadline: February 17, 2025
    • Casting Notifications: February 26, 2025
    • Filming Schedule: Weekdays during regular business hours, May–June 2025.
    • Compensation: Day rate is $300.
    • How to Audition: Information and submission form here.

    It’s Revolutionary! is made possible through the generous support of the North Carolina Society of the Cincinnati.

    About the N.C. Museum of History

    The North Carolina Museum of History, a Smithsonian Affiliate, fosters a passion for North Carolina history. This museum collects and preserves artifacts of state history and educates the public on the history of the state and the nation through exhibits and educational programs. In 2024, more than 275,000 people visited the museum to see some of the 150,000 artifacts in the museum collection. Located in the heart of downtown Raleigh, the North Carolina Museum of History serves as the flagship historical institution of the Division of State History Museums. This division, part of the N.C. Department of Natural and Cultural Resources, includes seven regional history museums dedicated to preserving and interpreting the stories of North Carolina’s past.

    About the Smithsonian Affiliations Network

    Since 2006, the North Carolina Museum of History has been a Smithsonian Affiliate, part of a select group of museums and cultural, educational and arts organizations that share Smithsonian resources with the nation. The Smithsonian Affiliations network is a national outreach program that develops long-term collaborative partnerships with museums and other educational and cultural organizations to enrich communities with Smithsonian resources. More information is available at affiliations.si.edu.

    About the North Carolina Department of Natural and Cultural Resources

    The N.C. Department of Natural and Cultural Resources (DNCR) manages, promotes, and enhances the things that people love about North Carolina – its diverse arts and culture, rich history, and spectacular natural areas. Through its programs, the department enhances education, stimulates economic development, improves public health, expands accessibility, and strengthens community resiliency.

    The department manages over 100 locations across the state, including 27 historic sites, seven history museums, two art museums, five science museums, four aquariums, 35 state parks, four recreation areas, dozens of state trails and natural areas, the N.C. Zoo, the State Library, the State Archives, the N.C. Arts Council, the African American Heritage Commission, the American Indian Heritage Commission, the State Historic Preservation Office, the Office of State Archaeology, the Highway Historical Markers program, the N.C. Land and Water Fund, and the Natural Heritage Program. For more information, please visit www.dncr.nc.gov.

    Feb 3, 2025

    MIL OSI USA News –

  • MIL-OSI: Three Pender Funds Recognized for Consistency and Outperformance During 2024

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Feb. 07, 2025 (GLOBE NEWSWIRE) — PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that three of its funds were awarded a FundGrade A+ Award at the Celebration of Excellence ceremony in Toronto on February 6, 2025.

    The Pender Bond Universe Fund, Pender Corporate Bond Fund and Pender Strategic Growth & Income Fund were all winners. This is the sixth consecutive year that the Pender Corporate Bond Fund has been honoured with this award, and this trio of funds were all recipients for the year 2022.

    The FundGrade A+ methodology1 is fully quantitative, with funds assessed monthly using a range of metrics against peers. The goal is to identify and grade funds demonstrating consistent outperformance on a risk-adjusted basis.

    “Applying our fundamental investment process consistently, through the good times and the bad, is the bedrock of our firm and our fund success,” said David Barr, CEO. “To have three funds recognized for outperformance over industry peers this year not only demonstrates that consistency of approach but also showcases something we are equally proud of the breadth of our fund line-up.”

    “These awards highlight the great work done by our team in not only finding attractive opportunities in the credit markets, but also in carefully following developments at the holding level,” stated Lead Portfolio Manager, Fixed Income, Geoff Castle. “It is only through strong understanding of each issuer’s situation that we are able to put the most weight in areas with the highest return potential.”

    “Receiving this Award is a testament to our team’s unwavering dedication to excellence and our differentiated approach to ‘balanced’ and strategic asset allocation across Pender’s award-winning line up,” commented Felix Narhi, Portfolio Manager of the Pender Strategic Growth & Income Fund.

    About the Pender Bond Universe Fund
    The Pender Bond Universe Fund is an income fund with an investment grade focus. The Fund aims to preserve capital and generate returns through current income and capital appreciation. It invests primarily in investment grade fixed income securities but can make equity investments when the risk/reward trade-off is believed to be in the investors’ favor.

    About the Pender Corporate Bond Fund
    The Pender Corporate Bond Fund is an income fund that is both conservatively managed to preserve capital, as well as opportunistic to generate returns. The Fund is focused on key credit characteristics – coverage, seniority and duration. It is driven by bottom-up fundamental analysis, the Fund seeks to use its nimble size to invest in opportunities large or index based funds cannot. This advantage could provide investors with an attractive cash yield, while maintaining positions in attractively valued securities that provide a margin-of-safety for investors.

    About the Pender Strategic Growth & Income Fund
    The Pender Strategic Growth and Income Fund is a diversified balanced fund. It aims to generate long-term growth and income by making allocations across Pender’s investment lineup, specifically in Pender’s fixed income and equity funds which aim for best-in-class results with an possible allocation of up to 10% of its net assets in Pender’s liquid alternative funds to further diversify the portfolio. We believe this approach is an important differentiator to traditional balanced funds.

    About PenderFund Capital Management Ltd.
    Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal. Please visit www.penderfund.com.

    Standard Performance Data for the funds may be found here:
    Fixed Income Funds: www.penderfund.com/fixed-income
    Balanced Funds: www.penderfund.com/balanced

    Please read important disclosures at www.penderfund.com/disclaimer

    About Fundata Canada Inc.’s FundGrade A+® Rating
    The FundGrade A+® rating is used with permission from Fundata Canada Inc., all rights reserved. Fundata is a leading provider of market and investment funds data to the Canadian financial services industry and business media. The FundGrade A+® rating identifies funds that have consistently demonstrated the best risk-adjusted returns throughout an entire calendar year. For more information on the rating system, please visit www.Fundata.com/ProductsServices/FundGrade.aspx.

    For further information, please contact:
    Melanie Moore
    Vice President of Marketing, PenderFund Capital Management Ltd.
    mmoore@penderfund.com
    (604) 688-1511
    Toll Free: (866) 377-4743

    ________________________________

    1 Methodology: www.fundgradeawards.com/images/FundataFundgradeMethodology.pdf

    The MIL Network –

  • MIL-OSI: BitconeMine Launches AI-Powered Cloud Mining Platform to Maximize Investor Returns

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 07, 2025 (GLOBE NEWSWIRE) — BitconeMine, a leading cloud mining provider, announces the official launch of its AI-powered cloud mining platform, designed to help investors achieve stronger wealth potential with minimal effort. This innovation marks a significant breakthrough in crypto mining, making Bitcoin mining more accessible, cost-effective, and profitable for users worldwide.

    AI-Driven Mining for Higher Efficiency

    Traditional Bitcoin mining requires substantial investment in high-end hardware, energy costs, and technical expertise. BitconeMine’s newly launched AI-powered cloud mining platform eliminates these barriers, allowing users to participate in cryptocurrency mining without the need for expensive equipment or specialized knowledge.

    Through advanced AI-driven optimization, BitconeMine enhances mining efficiency by reducing energy consumption, dynamically managing hardware performance, and minimizing downtime. This cutting-edge technology ensures higher returns while maintaining an environmentally friendly approach.

    Key Benefits of BitconeMine’s Cloud Mining Service

    1. Instant Mining Access with Flexible Contracts – Users can choose from various mining contract packages, providing fixed daily income based on their investment preferences.
    2. Zero Equipment & Maintenance Costs – No need to purchase or maintain mining rigs; BitconeMine handles all operational expenses.
    3. Global Accessibility with Mobile Monitoring – Investors can mine Bitcoin from anywhere in the world using just a smartphone. The BitconeMine app provides real-time income tracking.
    4. Enhanced Security & Insurance Protection – All user data is safeguarded by SSL encryption, and mining investments are protected through L&G insurance policies.
    5. Multiple Cryptocurrency Support – Users can settle earnings in USDT-TRC20, BTC, ETH, LTC, USDC, USDT-ERC20, BCH, DOGE, SOL, and XRP.
    6. Exclusive Welcome Bonus – New users receive a $10 registration bonus and can earn a daily passive income of $0.6 through the mining experience program.
    7. 24/7 Customer Support – BitconeMine offers round-the-clock assistance to resolve any user inquiries or technical issues.

    Shaping the Future of Cloud Mining

    BitconeMine’s AI-powered platform aims to revolutionize the crypto mining industry by diversifying revenue sources and reducing dependence on Bitcoin price fluctuations. By leveraging artificial intelligence, miners can optimize their operations, ensuring long-term stability and enhanced profitability.

    For more details on how to start mining effortlessly and earn passive income, visit https://bitconemine.com today.

    Contact:
    Lily Tanoria
    info@bitconemine.com

    Disclaimer: This press release is provided by BitconeMine. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including potential loss of capital. Readers are strongly advised to conduct their own research and consult a qualified financial advisor before making any investment decision.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e3b6d823-ff7e-4ffc-9d43-aad1d6e22296

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1dc56c40-d3ca-4017-a01f-e700bb10673a

    The MIL Network –

  • MIL-OSI USA: Kugler, Entrepreneurship and Aggregate Productivity

    Source: US State of New York Federal Reserve

    Thank you, Jon, and thank you for the opportunity to speak to you today.1 It is such a pleasure to be back in Miami, a city I have seen grow and become ever more dynamic over the decades, as I have come many times to visit my large extended family here ever since the 1980s.
    As I discussed in my final speech of 2024, two positive supply shocks have significantly benefited the U.S. economy over the past two years and have also affected the conduct of monetary policy.2
    The first of these has been the surge in population over the past few years that has helped bring labor supply into balance with labor demand and, thus, also helped move inflation toward the Federal Open Market Committee’s (FOMC) 2 percent goal. The other positive supply shock, which I outlined in my remarks in December, has been a step-up in aggregate productivity growth since 2020, which is an increase in the amount of economic output, across the economy, per hour worked or some other unit of labor. Although productivity growth, measured quarterly, can be quite volatile, over the past five years this acceleration is quite evident. While productivity grew by about 1.5 percent a year from 2005 to 2019, starting in 2020 it has grown about 2 percent a year. This difference may not look dramatic, but because of compounding year-over-year, the consequences of an additional 1/2 percentage point in growth over the past five years are significant for workers and the U.S. economy. When workers are more productive, it effectively means that businesses can produce more without needing to add workers, and that they can pay workers more without needing to raise prices. When they are more productive, it can also serve as an incentive for businesses to expand. Across the economy, higher productivity growth means that real wages and living standards for workers can rise faster without putting upward pressure on inflation.
    And that is exactly what has been happening recently, a period when inflation has been falling while the economy is expanding. While fast growth in wages was one of the factors driving inflation in 2021 and 2022, most likely some of that increase was due to productivity growth and, hence, was not inflationary. If productivity continues to grow at an accelerated pace, it would support the FOMC’s efforts to keep unemployment low and return inflation to a sustained level of 2 percent. For that reason, I would like to spend the balance of my remarks exploring some of the possible reasons why productivity has accelerated, and the prospects that this fortunate development will continue.
    Numerous factors affect aggregate productivity, and several may have driven the increase in productivity growth in the U.S. since the pandemic, in contrast to the subdued productivity growth experienced by other advanced economies around the world.
    One such factor may have been a result of the enormous movement of workers caused by the pandemic. It began with the dramatic loss of 22 million jobs in the spring of 2020, the reemployment of many of those workers and the continued mobility as people quit jobs, switched occupations and careers, and relocated in response to the enormous changes in work and home life brought about by the pandemic. In finding new jobs, in what became a very tight labor market, workers had the opportunity to find better matches for their skills and, to some extent, work that they were motivated to carry out and which made them more productive. One indication that this was probably a significant factor in the U.S. is that other advanced economies where there was less worker movement have experienced lower rates of productivity growth.3 Economic data and research suggest that periods of strong job re-allocation are accompanied or followed by higher productivity growth.4
    The tightness of the labor market since 2021 has also likely led firms to invest to a greater extent in labor-saving as well as labor-enhancing technologies, which, of course, is traditionally one of the major sources of productivity gains. For example, many retail businesses seemed to have installed more self-checkout machines after the onset of the pandemic, allowing employers to substitute capital for workers when workers could not come to work in person and when there were severe shortages. More generally, digital technology allowed employees to continue working from home during the period of the pandemic and beyond, saving commuting time and making employees potentially more productive.5
    To the extent that these factors are boosting productivity growth, they are by their nature one-off developments that eventually will fade. A notable exception may turn out to be productivity improvements from investments in artificial intelligence (AI). AI investment by businesses has stepped up in the past two years, and it appears to be accelerating.6 The advent of the internet and related innovations boosted productivity growth for about 10 years starting in the mid-1990s, and the benefits of AI could potentially be that revolutionary and persistent.
    In addition to being temporary, the factors that I have outlined that could be boosting productivity, job re-allocation, and technological investments are themselves hard to measure across the economy. And so are their effects on productivity as well. But there is another important factor that is likely to be driving productivity higher whose effects may well persist, and that is the surge in new business formation experienced since 2019. As I will explain, new businesses are associated with higher rates of overall productivity growth, and that may be particularly true for some of the sectors in which these businesses were created.
    Applications for new business tax identification numbers jumped shortly after the pandemic began and have remained elevated since then.7 In 2024, the pace of applications that are likely to result in employer business formation was about 30 percent above its 2019 pace. This surge is largely unique to the U.S. In the euro zone, for example, business registrations have been relatively flat. This may help explain why labor productivity growth in Europe has been well below that of the U.S. in recent years.8
    The surge in applications in early 2020 was an early signal of an acceleration in the creation of job-creating new firms.9 The latest data available indicate that new firms created 1.9 million jobs in 2023, 14 percent higher than the total for 2019.10
    A couple of aspects of this surge in business entry in the U.S. are noteworthy. First, the surge was particularly noticeable in high-tech industries that, historically, are important for overall innovation and productivity growth.11 Second, while the pace of business applications has cooled somewhat over the past year, it still remains elevated and well above pre-pandemic norms. It is, in fact, proving somewhat more persistent than some expected.
    For these reasons, the surge in new business formation is highly relevant to our discussion about productivity. There is a large body of research that finds that new firms are key contributors to innovation and growth in aggregate productivity.12 This might seem surprising and counterintuitive, since it is well known that many new firms fail in their first year or two. But in the commotion of competition that these many new businesses face, there are always businesses that persist and keep their lights on, and those often do so because they are innovative and more productive. New businesses are the essence of the competition that drives market-based economies, and it is not surprising that they would be an important source of new products or processes for doing business—and a source of growth.13
    Of course, not every new firm has to innovate and grow to make important economic contributions. Every entrepreneur contributes even if they just create a job for themselves and their family members. But those new firms that do innovate and grow are critical for improvements in overall productivity over time.
    As I noted before, since the surge in entrepreneurship after the onset of the pandemic featured an increase in high-tech businesses as well, the productivity implications could be significant. Indeed, the last period of strong productivity growth in the U.S., which ran from the late 1990s into the early 2000s, was preceded by a surge of new business creation in high-tech industries, including those industries that more recently have been associated with AI-related developments.14 So this is one source of my optimism about continued robust productivity growth in the U.S.
    But it is not only the innovations produced directly by new businesses that are important, since by any measure these new firms are a small share of total businesses. New businesses also help drive innovation by existing firms. As they scramble for funding, customers, and human capital, new businesses will increase competition with existing ones, forcing them to innovate as well so they can succeed. This is surely also driving the recent acceleration in productivity growth.
    Many predicted that the surge in new business creation would disappear as effects of the pandemic have faded, but this has not really happened. It is possible that the surge in entry will recede and that its productivity effects will likewise be temporary. On the other hand, the productivity gains from a surge in entry could last for some time, since these highly productive young firms have been found to grow rapidly for several years, contributing to aggregate productivity growth along the way. Time will tell, but for now, it seems likely that this is a factor supporting productivity growth at a higher-than-historical rate.
    I will confess to you all that it is not a coincidence that I have come to Miami to highlight the role of entrepreneurship in innovation and productivity growth. Miami and the Miami metropolitan area is an extraordinarily entrepreneurial area, a place with high rates of new business creation, and it is likely an important source of the recent productivity surge.
    Out of more than 900 U.S. cities for which we have data, Miami’s post-pandemic new firm entry rate ranked 8th in the nation.15 And Miami is not alone in Florida; 5 of the top 20 cities for pandemic-era business formation are here in your state.16 Miami specifically, and Florida generally, has been a key part of the U.S. entrepreneurship story for some time. During the decade before the pandemic, Miami ranked 5th out of more than 900 U.S. cities for firm entry rates, and Florida featured 8 of the top 20 U.S. cities.17
    Miami is special in this regard. I wonder what is in the water here to produce such a dynamic, entrepreneurial culture. Perhaps it is the extent of sunshine, which has long been associated with optimism. Perhaps it is the friendly economic climate—in my own academic research, I have found that policies that facilitate business entry and support worker or job re-allocation are indeed helpful for dynamism and productivity.18 But an interesting question for me as the first Hispanic at the Board of Governors since its creation is whether the large Hispanic population in Florida is also a factor behind the impressive pace of business dynamism that I have just described.
    More than 25 percent of Florida’s population is Hispanic, compared with around 20 percent for the United States as a whole.19 Nationwide, recent data indicate that Latinos account for a dominant—and rapidly growing—share of new entrepreneurship in the U.S., with a particular increase since the pandemic.20 Of course, many of these Latino entrepreneurs are also immigrants, another group with a well-known proclivity for entrepreneurship.21 There are immigrants in Miami from the Caribbean and all over the world who contribute to the entrepreneurial culture of this city, and it is surely this culture, as much as the efforts of any nationality or group, that is the real engine of the dynamism here. I applaud you all for fostering that culture here in Florida, which is such an important contributor to the economic growth of our nation. More entrepreneurs means more productivity, which is crucial to U.S. prosperity.
    Let me conclude with an outline of my views on the outlook for the U.S. economy and the FOMC’s efforts to return inflation to our 2 percent goal while maintaining a strong labor market.
    The U.S. economy remains on a firm footing.
    Real gross domestic product (GDP) continues to grow at a solid pace. The Bureau for Economic Analysis estimates that real GDP grew 2.3 percent in the fourth quarter of 2024, and private domestic final purchases, which is the best indicator for GDP one quarter ahead, grew a solid 3.2 percent. Therefore, I anticipate solid GDP growth also in the first quarter of this year. In addition, earlier today the Labor Department reported that U.S. employers created 143,000 jobs in January and the unemployment rate edged down to 4 percent, consistent with a healthy labor market that is neither weakening nor showing signs of overheating.
    Inflation has fallen significantly since its peak in the middle of 2022, and in September the FOMC judged that it was time to begin reducing our policy interest rate from levels intended to strongly restrict aggregate demand and put downward pressure on inflation. We reduced our policy rate 100 basis points through December, but the recent progress on inflation has been slow and uneven, and inflation remains elevated. There is also considerable uncertainty about the economic effects of proposals of new policies. Going forward, in considering the appropriate federal funds rate, we will watch these developments closely and continue to carefully assess incoming data, the evolving outlook, and the balance of risks.
    Thank you again for the opportunity to speak to you today.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text
    2. See Adriana D. Kugler (2024), “A Year in Review: A Tale of Two Supply Shocks,” speech delivered at the Detroit Economic Club, Detroit, Michigan, December 3. Return to text
    3. See Joaquin García-Cabo, Anna Lipińska, and Gaston Navarro (2023), “Sectoral Shocks, Reallocation, and Labor Market Policies,” European Economic Review, vol. 156 (July), 104494. Return to text
    4. See, for example, Lucia Foster, John Haltiwanger, and C.J. Krizan (2001), “Aggregate Productivity Growth: Lessons from Microeconomic Evidence,” in Charles R. Hulten, Edwin R. Dean, and Michael J. Harper, eds., New Developments in Productivity Analysis (Chicago: University of Chicago Press), pp. 303–63; and John Haltiwanger, Henry Hyatt, Erika McEntarfer, and Matthew Staiger (2025), “Cyclical Worker Flows: Cleansing vs. Sullying,” Review of Economic Dynamics, vol. 55 (January), 101252. Return to text
    5. See Myrto Oikonomou, Nicola Pierri, and Yannick Timmer (2023), “IT Shields: Technology Adoption and Economic Resilience during the COVID-19 Pandemic,” Labour Economics, vol. 81 (April), 102330. Return to text
    6. Estimates of current AI usage by firms vary widely, but uptake appears to be significant and rising. See Leland Crane, Michael Green, and Paul Soto (2025), “Measuring AI Uptake in the Workplace,” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, February 5). Return to text
    7. These data, which track applications to the Internal Revenue Service for new Employer Identification Numbers, are available from the Census Bureau’s Business Formation Statistics. I focus specifically on “high-propensity applications,” which are those applications deemed by the Census Bureau to be particularly likely to result in the creation of new firms with formal employees. Return to text
    8. See Francois de Soyres, Joaquin Garcia-Cabo Herrero, Nils Goernemann, Sharon Jeon, Grace Lofstrom, and Dylan Moore (2024), “Why Is the U.S. GDP Recovering Faster Than Other Advanced Economies?” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, May 17). Return to text
    9. For extensive documentation and analysis of the pandemic business entry patterns, see Ryan A. Decker and John Haltiwanger (2024), “Surging Business Formation in the Pandemic: Causes and Consequences?” Brookings Papers on Economic Activity, Fall, pp. 249–302; and Ryan Decker and John Haltiwanger (2024), “Surging Business Formation in the Pandemic: A Brief Update,” working paper. Return to text
    10. Data on employment among firms with age zero from the Bureau of Labor Statistics Business Employment Dynamics. These are annual data with a March reference period. Return to text
    11. For documentation of the pandemic high-tech entry surge, see Ryan Decker and John Haltiwanger (2024), “High Tech Business Entry in the Pandemic Era,” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, April 19). For the role of high-tech industries in aggregate productivity growth, see John G. Fernald (2015), “Productivity and Potential Output before, during, and after the Great Recession,” NBER Macroeconomics Annual, vol. 29, pp. 1–51. Return to text
    12. The relevant literature is vast. For example, see Marcela Eslava, John Haltiwanger, Adriana Kugler, and Maurice Kugler (2004), “The Effects of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia,” Journal of Development Economics, vol. 75 (December), pp. 333–71; Titan Alon, David Berger, Robert Dent, and Benjamin Pugsley (2018), “Older and Slower: The Startup Deficit’s Lasting Effects on Productivity Growth,” Journal of Monetary Economics, vol. 93 (January), pp. 68–85; and Ryan Decker, John Haltiwanger, Ron Jarmin, and Javier Miranda (2014), “The Role of Entrepreneurship in US Job Creation and Economic Dynamism,” Journal of Economic Perspectives, vol. 28 (Summer), pp. 3–24. Return to text
    13. See Daron Acemoglu, Ufuk Akcigit, Harun Alp, Nicholas Bloom, and William Kerr (2018), “Innovation, Reallocation, and Growth,” American Economic Review, vol. 108 (November), pp. 3450–91; and Vincent Sterk, Petr Sedlacek, and Benjamin Pugsley (2021), “The Nature of Firm Growth,” American Economic Review, vol. 111 (February), pp. 547–79. Return to text
    14. See Lucia Foster, Cheryl Grim, John C. Haltiwanger, and Zoltan Wolf (2021), “Innovation, Productivity Dispersion, and Productivity Growth,” in Carol Corrado, Jonathan Haskel, Javier Miranda, and Daniel Sichel, eds., Measuring and Accounting for Innovation in the Twenty-First Century (Chicago: University of Chicago Press). Return to text
    15. Entry rates are measured as new firms as a share of all firms for 2021–22 (average) from the Census Bureau Business Dynamics Statistics; the Census Bureau data report entry rates for core-based statistical areas. Return to text
    16. The 5 Florida cities in the top 20 are Orlando-Kissimmee-Sanford, Miami-Fort Lauderdale-West Palm Beach, Cape Coral-Fort Myers, Tampa-St. Petersburg-Clearwater, and Crestview-Fort Walton Beach-Destin. Return to text
    17. I measure the pre-pandemic decade using average firm entry rates for 2010–19. The 8 Florida cities in the top 20 are Orlando-Kissimmee-Sanford, Miami-Fort Lauderdale-West Palm Beach, Cape Coral-Fort Myers, Wildwood-The Villages, Tampa-St. Petersburg-Clearwater, Naples-Marco Island, North Port-Bradenton-Sarasota, and Jacksonville. Return to text
    18. See, for example, David Autor, William Kerr, and Adriana Kugler (2007), “Do Employment Protections Reduce Productivity? Evidence from U.S. States,” Economic Journal, vol. 117 (June), pp. F189–F217; and Marcela Eslava, John Haltiwanger, Adriana Kugler, and Maurice Kugler (2004), “The Effects of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia,” Journal of Development Economics, vol. 75 (December), pp. 333–71. Return to text
    19. Data from the 2023 American Community Survey. Return to text
    20. Analysis by Robert Fairlie using Bureau of Labor Statistics Current Population Survey data reported in Ruth Simon (2024), “Latinos Are Starting U.S. Businesses at a Torrid Pace,” Wall Street Journal, March 26. Return to text
    21. See Sari Pekkala Kerr and William Kerr (2020), “Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012,” Research Policy, vol. 49 (April), 103918. Return to text

    MIL OSI USA News –

  • MIL-OSI Global: Stories about repeating history – what to watch, read and see this week

    Source: The Conversation – UK – By Naomi Joseph, Arts + Culture Editor

    “Here they are, my lost people, in need of strongmen and simple ideas,” says Benito Mussolini to the camera. It is March 23 1919, and all that we know will happen in Italy and all that we know this man will become is only just being set in motion. Mussolini: Son of the Century, a new Italian-language Sky Atlantic TV series, tells the story of this beginning, of the rise of Italian fascism and its consolidation in power from 1919 to 1925.

    Set out in eight parts, it’s a striking and powerful piece of TV. Italian actor Luca Marinelli performs indomitably as the 35-year-old soon-to-be dictator, Benito Mussolini. Our reviewer, expert in Italian history John Foot, has spent countless hours studying and watching Mussolini. He was blown away by the precision with which Marinelli expels torrents of words – many of which have been drawn directly from Mussolini’s journalism and speeches.

    The series is coming at a moment when far-right leaders are winning elections all over the world and its director, Joe Wright, is keenly aware. This series is clearly a warning. Democracy is fragile. Yes, this series is about the man who would become “Il Duce” (the Duke) but it shows, as Foot notes, how he was enabled and how easily his incendiary language and the violence of his supporters were ignored.

    Mussolini: Son of the Century is available on Sky Atlantic now



    Read more:
    Why I loved the new Mussolini drama – by an expert in Italian fascism

    Dark history

    If you’re looking to learn about another bit of global history through brilliant storytelling let me recommend the director Tim Fehlbaum’s new film September 5. The film recounts the Black September attack on the Israeli team at the 1972 Munich Olympics.

    As our reviewer, film expert Barry Langford writes, this incident arguably introduced the term “terrorist” to many viewers for the first time. The story has been told many times but the focus here is on the American sports broadcasting crew tasked with covering the hostage crisis. The drama unfolds almost entirely within the confines of the control room.

    It is a tense and tightly-packed 94 minutes that does this story justice and shows that big topics can be handled well in short (for these days) films.

    September 5 is in cinemas now.



    Read more:
    September 5: tense and taut drama vividly recreates the Munich massacre

    Another historical fiction recommendation is the new book from the Nobel literature prize-winning South Korean author Han Kang, We Do Not Part. First published in 2021 and now translated into English, it takes on the memories and lasting shadow of Jeju 4.3 (1947 to 1948) on the families who survived.

    The official figure of how many people died is still not known, and it’s assumed that around 10% of the population of Jeju island was killed during this US-backed operation by the Korean government to eradicate communists and their sympathisers. The incident was suppressed by the government until 2000 when it was officially recognised.

    In this book, Kang bears witness to the horror through Kyungha, who is snowed in at her friend Inseon’s compound in Jeju. There, she discovers Inseon’s lifelong investigation into her family’s experiences of the massacres.

    It is told in a sort of dizzying, fragmentary style where excerpts of interviews, descriptions of pictures and passages of memories intersect with Kyungha’s present. Haunting and harrowing at times, it features Han Kang’s typical precise language and brilliantly unnerving and dreamlike storytelling.



    Read more:
    We Do Not Part by Han Kang: a haunting story which forces the reader to remember a horrific incident in Korea’s past that it tried to erase

    Killer robots and giant whales

    Film’s fascination with the possibility of sexy female robots goes back to Fritz Lang’s Metropolis in 1927. Men lust after these robots, but also fear them – and often rightly so. Some of my favourites in this genre are Ridley Scott’s Blade Runner (1982), Alex Garland’s Ex Machina (2014) and now Drew Hancock’s Companion (2025).

    Companion follows Iris and Josh, a seemingly average couple bound in their driverless car for a weekend away with Josh’s friends. Iris, like many girlfriends in this scenario, is eager to be a success. But, she isn’t a normal girl, she’s a sophisticated humanoid companion bot – something she doesn’t know about herself … yet. What begins with dinner parties and dancing soon devolves into violence as something in her programming goes wrong.

    As our reviewer Sarah Artt notes: “What makes Companion unsettling is not so much its depiction of cyborgs but rather its portrayal of misogyny.” This glossy film asks what makes someone a good partner to anyone, sophisticated robot or otherwise. Does our treatment and respect of humanoid bots and AI matter? I saw this film last week and am still thinking about it.

    Companion is in cinemas now.



    Read more:
    Companion review: this sleek but violent film asks interesting ethical questions about our relationship with AI

    Finally, if you are in or happen to be going to Winchester this month, pop by the cathedral to gawp in awe at three huge sculptures of sperm whales hanging from the ceiling in the nave. The immersive exhibition Whales is by artist Tessa Campbell Fraser and asks visitors to stare up at the majesty of these almighty creatures and contemplate humankind’s increasing ecological impact on the world’s climate.

    Whales is on at Winchester Cathedral until February 26.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    – ref. Stories about repeating history – what to watch, read and see this week – https://theconversation.com/stories-about-repeating-history-what-to-watch-read-and-see-this-week-249297

    MIL OSI – Global Reports –

  • MIL-OSI Security: Defense News: NAVIFOR Showcases Information Warfare Capabilities at WEST 2025

    Source: United States Navy

    Vice Adm. Mike Vernazza, Commander of Naval Information Forces (NAVIFOR) and the Navy’s IBoss, played a central role in the event, delivering the keynote address at the Information Warfare Pavilion and participating in a high-profile plenary panel on the conference’s opening day. His remarks underscored the increasing demand for IW capabilities in today’s rapidly evolving maritime security environment.

    “In today’s battlespace, information is not just an enabler—it is a decisive warfighting tool,” said Vernazza. “Superiority at sea requires superiority in the information domain, and that means leveraging our capabilities across intelligence, cyber warfare, electronic warfare, and battlespace awareness.”

    The IW Pavilion served as a focal point for discussions and demonstrations, drawing in military leaders, industry partners, and academia to explore the latest advancements in cyber warfare, artificial intelligence, cloud computing, and secure communications. The pavilion provided an immersive experience showcasing how NAVIFOR is delivering cutting-edge IW capabilities to the fleet.

    “The presence of the IW Pavilion at WEST is invaluable,” said IBoss. “It allows us to not only demonstrate our operational capabilities but also engage in meaningful discussions with the brightest minds in industry and academia. These conversations directly impact our ability to stay ahead of adversaries in the information domain.”

    Having a strong IW presence at the largest maritime conference on the West Coast also reinforced the Navy’s emphasis on integrating IW across all warfare areas. Throughout the event, NAVIFOR leaders met with stakeholders to discuss critical topics such as strengthening cyber resilience, improving electromagnetic spectrum operations, and enhancing battlespace awareness for decision superiority.

    “Our adversaries are rapidly advancing their own information warfare capabilities,” said Vernazza during the plenary panel discussion. “If we are not continuously innovating and refining our approach, we risk losing the advantage. Events like WEST allow us to collaborate, share knowledge, and accelerate the development of solutions that keep us ahead.”

    NAVIFOR Sailors and civilians were also actively engaged throughout the conference, providing firsthand perspectives on how IW is applied in real-world operations. Panel discussions and breakout sessions focused on the evolving role of cyber warfare in naval operations, data-driven decision-making, and the challenges of securing networks in contested environments.

    One of the key takeaways from WEST 2025 was the importance of partnerships. By fostering relationships between the military, industry, and academia, NAVIFOR continues to ensure the Navy has the tools and talent necessary to meet future challenges.

    “We cannot do this alone,” Vernazza emphasized. “Our partnerships are essential to developing the cutting-edge technologies and strategies we need to maintain information dominance. The conversations we have here at WEST help shape the future of naval operations.”

    As NAVIFOR looks to the future, its commitment to warfighter readiness and information warfare excellence remains steadfast. WEST 2025 served as both a showcase of capabilities and a reminder of the ever-growing importance of information warfare in achieving maritime superiority.

    NAVIFOR’s mission is to generate, directly and through our leadership of the IW Enterprise, agile and technically superior manned, trained, equipped, and certified combat-ready IW forces to ensure our Navy will decisively DETER, COMPETE, and WIN.

    For more information on NAVIFOR, visit the command Facebook page at https://www.facebook.com/NavalInformationForces/ or the public web page at https://www.navifor.usff.navy.mil.

    MIL Security OSI –

  • MIL-OSI United Kingdom: expert reaction to Public Accounts Committee report on Carbon Capture, Usage, and Storage (CCUS) Technologies

    Source: United Kingdom – Executive Government & Departments

    Scientists comment on the Public Accounts Committee (PAC) report on Carbon Capture, Usage and Storage (CCUS) technologies. 

    Prof Hannah Chalmers, Personal Chair of Sustainable Energy Systems, Institute for Energy Systems, School of Engineering, University of Edinburgh, said:

    “CCUS technologies can play a unique role in tackling carbon dioxide emissions.  They can be used at large industrial sites to ensure that most of the carbon dioxide produced by activities like iron and steel production is not emitted to the atmosphere.  Instead, the carbon dioxide is permanently stored in geological formations (rocks).  In the UK, CCUS projects are developing plans to store carbon dioxide in layers of rock that are deep underneath the sea.

    “There is also ongoing work to develop and deploy cost-effective approaches to remove carbon dioxide directly from the air.  This provides an important option to respond to the widely reported increases in carbon dioxide levels in the atmosphere that are causing significant concern.

    “There is significant evidence that including CCUS in a mix of technologies to reduce carbon dioxide emissions will be the most cost-effective way to address climate change.  Several large-scale projects have been operating in other countries for many years.  Experience from these projects is being used to ensure that the CCUS projects that are being developed in the UK are designed to be reliable and cost-effective.”

     

    Dr Stuart Gilfillan, Reader in Geochemistry, University of Edinburgh, said:

    What is CCUS technology, how does it work, does it have limitations?

    “CCUS stands for Carbon Capture, Utilisation, and Storage, which is a developing technology which reduces the amount of carbon dioxide (CO2) released into the atmosphere. It works by capturing CO2 at the point source, transporting it and then burying it for safe storage in rocks over a kilometre below the ground surface. Like any technology, it has pros and cons, and costs more than simply releasing the CO2 directly to the atmosphere, which is currently free. CCUS is the only currently available technology that can directly reduce CO2 emissions from sources like power plants and industrial processes. Given that global temperature records are now being broken on an almost daily basis and yesterday’s announcement of the hottest January on record, it is essential tool in the urgent fight against runaway climate change.

    What is the existing evidence around the efficacy of CCUS?

    “CO2 capture technology has proven successful in capturing up to 90-95% of CO2 emissions from point of sources from power stations and industrial facilities. Successful examples include the Boundary Dam power station in Saskatchewan, Canada, where a large-scale CCUS unit has been operational since 2014, capturing about 1 million tonnes of CO2 per year.

    “The long-term storage of CO2 is proven by natural CO2 reservoirs around the world and engineered projects like Sleipner in the North Sea, which have been injecting CO2 beneath the seabed since 1996 without significant issues. Research over the past two decades has developed monitoring technologies that can detect and mitigate potential leakage and to ensure that CO2 remains securely buried in rocks deep underground.

    What more evidence may be needed to be confident in its applications?

    “No more evidence is required, as exemplified by the UK’s Climate Change Committee (CCC), which is an independent body established under the Climate Change Act who advise the government on emissions targets and report to Parliament on progress made in reducing greenhouse gas emissions. The CCC is clear that CCUS is a critical technology for the decarbonisation of the UK economy, particularly in sectors that are hard to decarbonize directly, such as heavy industry (steel, cement, chemicals) and power generation.

    “CCUS is not only as a standalone technology but is an essential part of a broader strategy to reach net-zero emissions by 2050. It compliments energy efficiency, renewable energy deployment, and electrification. CCUS is a clear driver for regional economic development, particularly in regions with suitable geological storage sites and industrial bases, such as the East Coast of Scotland, the Humber region, and North East England, areas that have been ‘left behind’ in recent times.”

     

    Dr Tim Dixon, IEA Greenhouse Gas, Director and General Manager, said:

    “Carbon Capture and Storage (CCS) is a necessary technology for the UK and other countries to achieve net-zero, and we need all low-carbon energy technologies. The science case for the role of CCS is provided by the UK’s Climate Change Committee, the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA) and cannot be disputed if climate change is to be taken seriously. The key aspect of CCS is the secure long-term retention of CO2 in deep geological formations, and we have decades of experience in this from around the world. With over 40 large scale projects in operation injecting millions of tonnes every year and many pilot-scale projects, this has allowed us to test the science, the monitoring and the practicalities of geological storage of CO2. Hence CO2 geological storage is a proven technology and the regulations to enable and to ensure that it is safe and secure are based upon this sound science and experience. ”

     

    Professor Paul Fennell FIchemE, Professor of Clean Energy, Imperial College London, said:

    “The idea that Carbon Capture and Storage is an unproven technology is simply untrue.  There are projects ongoing around the world, and millions of tonnes of CO2 have been safely stored over the last couple of decades.  This has not happened in the U.K. because of our sclerotic inability to develop public infrastructure, not because the technology is unproven.”

     

    Dr Greg Mutch, Researcher in Carbon Capture and Storage, Newcastle University, said:

    “Carbon capture and storage is a technology that prevents carbon dioxide from entering the atmosphere, by capturing it and storing it underground in ‘empty’ oil & gas reservoirs or saline aquifers. According to the world’s foremost experts on the subject, gathered to contribute the International Panel on Climate Change, carbon capture and storage processes are necessary to achieve climate change mitigation goals at lowest cost. Without scalable CCS technologies by the end of the century, climate change mitigation will cost between 29 and 297% (mean value 138%) more.[1] Moreover, CCS is predicted to provide tens of thousands of jobs in the UK, add several billion pounds in terms of gross value added per year by 2050,[2] and enable other important technologies (hydrogen production etc) that will come with further jobs and economic value.”

    [1] IPCC, 2018: Global Warming of 1.5 °C. An IPCC Special Report on the impacts of global warming of 1.5 °C above pre-industrial levels and related global greenhouse gas emission pathways, in the context of strengthening the global response to the threat of climate change, sustainable development, and efforts to eradicate poverty, ed. V. Masson-Delmotte, P. Zhai, H.-O. Portner, D. Roberts, J. Skea, P. R. Shukla, A. Pirani, W. Moufouma-Okia, C. Pean, R. Pidcock, S. Connors, J. B. R. Matthews, Y. Chen, X. Zhou, M. I. Gomis, E. Lonnoy, T. Maycock, M. Tignor and T. Waterfield, Cambridge University Press, 2018.

    [2] Energy Innovation Needs Assessment Sub-theme report: Carbon capture, utilisation, and storage, Vivid Economics, Carbon Trust, E4tech, Imperial College London, Frazer-Nash Consultancy, Energy Systems Catapult. Commissioned by the Department for Business, Energy & Industrial Strategy, 2019.

    Professor Peter Styring, Director of the UK Centre for Carbon Dioxide Utilization, Professor of Chemical Engineering & Chemistry, University of Sheffield, said:

    What is CCUS technology, how does it work, does it have limitations?

    “CCUS is carbon capture and storage. This has been primarily focused on CCS as the main driver. It aims to capture carbon dioxide from emitters such as power stations and industries. The current technology temperature swing absorption (TSA)  using a chemical reaction with an aqueous amine solvent to capture the CO2 from the mixed waste gas and then to release it in a purified form by increased temperature chemical desorption and then further drying and purification to get a gas that can be in theory transported to a site where the gas can be stored underground. It works but at a high energy cost and the production of amine decomposition products that need to be removed and more amine added. It costs a lot!

    “Limitations are the energy and financial costs, permitting regulations on solvent disclosure and the large physical footprint. Full system lifecycle analysis is required but this is not always reported.”

    What is the existing evidence around the efficacy of CCUS?

    “This is not proven using current technologies. The problem is that the current government funded projects use old technologies to achieve CCS and what is actually needed is a step change to new, lower cost more efficient processes such as solid based pressure swing adsorption (PSA). The whole system tends to be simpler and the energy costs and land use is significantly reduced.”

    What more evidence may be needed to be confident in its applications?

    “Full evaluation of new technologies and rapid acceleration from proof of concept to capture at scale. The Innovate UK funded Flue2Chem project is a good example of how this is being addressed using mid-TRL technologies. The UK also needs to move away from a single minded storage approach to adding value through the use of CO2 in the production of chemicals that would otherwise be sourced from virgin fossil carbon. SUSTAIN project is making synthetic fuels from captured CO2 and Flue2Chem is making FMCG components, including surfactants and precursors from the CO2.”

     

    Dr Stuart Jenkins, Net Zero Fossil Fuel Fellow, University of Oxford, said:

    “The Public Accounts Committee are wrong to have labelled CCUS as ‘unproven’, there are many commercial scale projects around the world, but they are right to question the current model for funding it. We need to make sure the CCUS industry becomes self-sustaining, without the need for major taxpayer funding. One option — asking fossil fuel suppliers to contribute to these costs via a carbon storage mandate — is a fair and responsible approach going forward.

    In a recent report we published working with researchers at the University of Oxford and Carbon Balance Initiative [1] we looked at the use of Carbon Storage Mandates, which place an obligation on fossil fuel producers to capture and store a rising fraction of the CO2 they produce, to support the UK’s CCUS industry. 

    Carbon storage mandates, in tandem with carbon pricing and other mechanisms, could deliver subsidy-free CCUS to the UK and provide investment certainty for companies.”

    [1]- https://www.carbon-balance.earth/briefs-reports/report-markets-and-mandates 

    https://committees.parliament.uk/committee/127/public-accounts-committee/news/205139/carbon-capture-high-degree-of-uncertainty-whether-risky-investment-by-govt-will-pay-off/#:~:text=In%20a%20report%20published%20today,and%20the%20cost%20of%20living

    Declared interests

    Dr Stuart Jenkins Our report was funded by the Carbon Capture and Storage Association, and consulted regulators, fossil fuel companies, capture and storage entities, UK Government, and academics on models for CCUS sector support packages. 

    Professor Paul Fennell: No conflicts other than being involved in CCs research.

    Dr Tim Dixon: “Tim is a Director of IEA Environmental Projects Ltd (UK), a Non-Executive Director on the Board for The International CCS Knowledge Centre (Canada). He is also proud to be an Honorary Senior Research Fellow at the Bureau of Economic Geology, University of Texas in Austin, and an Honorary Lecturer at the School of Geosciences at University of Edinburgh. He was an original Board Member of the UK CCS Research Centre. Previously he worked in CCS, emissions trading, clean energy technologies and related areas for AEA Technology (ETSU), for the UK Government‘s Department of Trade and Industry (DTI) and for the Global CCS Institute. He was the EU’s Lead Negotiator for getting CCS in the CDM in UNFCCC in 2011, and a UK negotiator for getting CCS in the London Convention 2004-7, in OSPAR 2006-7, in the EU Emission Trading Scheme 2004-8, and inputting to the EU CCS Directive 2007-8. He gives talks on climate and CCS to schools and public organisations and supported the start of Oxford Climate Society at the University of Oxford. He is a Fellow of the UK Energy Institute, and member of the UK Institute of Physics and the UK Environmental Law Association.”

    Dr Stuart Gilfillan “I have received funding from TotalEnergies in the past, for research related to CO2 origins in the subsurface and reservoir connectivity and Equinor on CO2 dissolution in natural CO2 reservoirs. I currently receive funding from the Natural Environment Research Council and Carbfix on CO2 mineralisation.”

    Prof Hannah Chalmers “I work collaboratively with industrial partners who are developing CCUS projects in the UK (e.g. as a member of the Advisory Board for the Industrial Decarbonisation Research and Innovation Centre).  I currently receive no funding from industry, but have received funding from industrial partners who are actively developing CCUS projects in the UK in the past (e.g. SSE plc).”

    Professor Peter Styring: Peter is Professor of Chemical Engineering and Chemistry at the University of Sheffield (an investigator on Flue2Chem and SUSTAIN) and a Co-founder and Director of CCU International.

    For all other experts, no response to our request for DOIs was received.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: ICC and Palestine Emerging continue to promote economic opportunity in the Middle East 

    Source: International Chamber of Commerce

    Headline: ICC and Palestine Emerging continue to promote economic opportunity in the Middle East 

    A second meeting of the ICC-Palestine Emerging Steering Committee was held virtually on 7 February, marking a progress-tracking milestone since the collaboration was announced in October 2024. With a focus on the economic development and reconstruction of Gaza and the West Bank, the ICC-Palestine Emerging partnership works to promote strong private sectors across the Middle East.

    Another key achievement has been the formal affiliation of the Federation of Palestinian Chambers of Commerce, Industry and Agriculture (FPCCIA) with the ICC World Chambers Federation. The affiliation will allow Palestinian companies to participate in ICC’s global business events and to gain international market access. It will also provide Palestinian companies with direct access to ICC OneClick, ICC’s gateway supporting SMEs in their export journey, now available in Arabic.

    ICC Secretary General, John W.H. Denton AO said:

    “By combining the breadth and credibility of ICC’s network and expertise with Palestine Emerging’s local insights, this collaboration will continue to foster Palestine’s engagement with the global economy with integrity”

    The ICC-Palestine Emerging partnership has identified 15 workstreams aimed at growing the Palestinian economy, and the Middle East region at large. These include concrete initiatives to strengthen the Palestinian private sector’s involvement with ICC’s global network, including through the establishment of a new national committee.

    ICC is working closely with Palestine Emerging to promote the Palestinian entrepreneurship ecosystem by facilitating engagement between local startups, education institutions and international investors. The initiative also aims to enhance investment attraction efforts and support economic reconstruction, including by developing local arbitration capabilities and bringing ICC’s alternative dispute resolution services to Palestine.

    Senior ICC representatives have actively engaged in Palestine Emerging activities. These include joint events with the United States Institute of Peace in Washington D.C. in December 2024 and the Palestine Emerging International Advisory Group meeting in London in January 2025.

    ICC and Palestine Emerging have secured support from key international players for these joint initiatives through engagement with key government and business leaders.

    As momentum builds, ICC and Palestine Emerging’s collaboration will continue to drive economic opportunity and integration for Palestinian businesses with the global economy.

    MIL OSI Economics –

  • MIL-OSI USA: Warren, Schumer, Senators Launch Probe Into DOGE’s Interference with Department of Education, Access to Federal Student Loan Data

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    February 07, 2025

    Musk’s Team May Have Obtained Access to Personal Information of Millions of Borrowers; Raises Concerns About Violations of the Law, Failure to Protect Sensitive Information

    “The millions of families who rely on ED to help them achieve the American Dream deserve answers about reports that an unelected billionaire and his team now have access to some of their most sensitive personal information.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) and Senate Minority Leader Chuck Schumer (D-N.Y.) led 14 of their colleagues in sending a letter to Acting Secretary of the Department of Education, Denise Carter, launching a probe into recent reports that Elon Musk’s Department of Government Efficiency (DOGE) has infiltrated the Department of Education (ED) and that “DOGE staffers have gained access to federal student loan data, which includes personal information for millions of borrowers.”

    The letter was joined by Senators Cory Booker (D-N.J.), Richard Durbin (D-Ill.), Jack Reed (D-R.I.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Alex Padilla (D-Calif), Richard Blumenthal (D-Conn.), Tammy Duckworth (D-Ill.), Mazie Hirono (D-Hawaii), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Raphael Warnock (D-Ga.), Ben Ray Luján (D-N.M.), and Ron Wyden (D-Ore.).

    There are over 40 million federal student loan borrowers in the United States. ED’s student loan database contains millions of borrowers’ highly sensitive information, including Social Security numbers, marital status, and income data. 

    “This deeply troubling report raises questions about potential exposures of Americans’ private data, the abuse of this data by the Trump Administration, and whether officials who have access to the data may have violated the law or the federal government’s procedures for handling sensitive information,” wrote the senators.

    According to public reporting, “a handful of 19-to-24-year-old engineers linked to Musk’s companies, with unclear titles, could be bypassing regular security protocols” during DOGE’s infiltration of federal agencies. The senators also raised concerns that the access provided to DOGE-affiliated staff by the Department may violate the Privacy Act, which generally prohibits the disclosure of such information.

    “We are especially troubled by this reporting given President Trump’s stated pledge to abolish the Department,” concluded the lawmakers. “The millions of families who rely on ED to help them achieve the American Dream deserve answers about reports that an unelected billionaire and his team now have access to some of their most sensitive personal information.”

    Additional reporting suggests that DOGE has “fed sensitive data from across the Education Department into artificial intelligence software to probe the agency’s programs and spending.” The 16 senators requested answers from Acting Secretary Carter about DOGE’s access to federal student loan data and any other sensitive databases by February 13, 2025.

    MIL OSI USA News –

  • MIL-OSI Russia: Dmitry Grigorenko: The first programs for digital transformation of departments for 2025 have been approved

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dmitry Grigorenko’s meeting with heads of digital transformation of federal executive bodies

    February 7, 2025

    Dmitry Grigorenko’s meeting with heads of digital transformation of federal executive bodies

    February 7, 2025

    Dmitry Grigorenko at a meeting with heads of digital transformation of federal executive bodies

    February 7, 2025

    Previous news Next news

    Dmitry Grigorenko’s meeting with heads of digital transformation of federal executive bodies

    Digital transformation programs for 2025 and the planning period 2026–2027 have been adopted for 11 federal ministries and departments. They were reviewed at a meeting of Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko with heads of digital transformation of federal executive bodies.

    The meeting approved development programs for the Ministry of Emergency Situations, the Ministry of Industry and Trade, the Ministry of Digital Development, the Ministry of Energy, the Russian National Guard, the Federal Service for Supervision in Education and Science, the Federal Archives Agency, the Federal Reserve Agency, the Federal Fisheries Agency, the Federal Bailiff Service, and the Federal Mandatory Medical Insurance Fund. Their projects provide for all the main planning parameters with established target indicators: funding volumes; key results (e.g., harmonizing departmental information resources, increasing the speed of processing interdepartmental requests); infrastructure development (e.g., transferring systems to Russian software and Russian information security tools).

    “In total, we have to approve 60 departmental digital transformation programs. Their implementation is aimed at increasing the efficiency of the departments themselves and public administration as a whole. This includes the quality of decisions made based on data received online, and the transparent implementation of key functions, and the speed of providing public services,” commented Dmitry Grigorenko.

    For example, the Compulsory Medical Insurance Fund plans to introduce a system of personalized accounting of information on medical care provided in 2025. This will allow receiving information about insured citizens online, reducing errors in medical organizations’ bills, generating information about everyone who is subject to dispensary observation, creating individual medical examination routes for them, etc. Based on this information, personal risks of insured persons will be calculated, and forecasts of medical care consumption will be built.

    Taking into account the implementation of the tasks set within the framework of departmental digital transformation programs, a number of additional priorities were also identified at the meeting. Thus, among the tasks for 2025 is to introduce artificial intelligence technologies into the feedback platform. This will allow for the fastest possible classification of citizens’ requests by issue and assessment of the quality of responses to them. Also, special attention will be paid to ensuring information security in 2025.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI USA: ICYMI: Washington Post Exposes Democrats’ Hypocritical Flip-Flop on USAID Reorganization

    Source: US House Committee on Foreign Affairs

    Media Contact 202-321-9747

    WASHINGTON, D.C. – Yesterday, The Washington Post published an op-ed exposing how Democrats long championed merging the United States Agency for International Development with the State Department before their hypocritical U-turn.

    Marc A. Thiessen writes for the Post:

    “Shuttering USAID is not some evil MAGA plot. In fact, it was first proposed by a Democrat — Secretary of State Warren Christopher — who tried to close the foreign aid agency during the Clinton administration.”

    A move so MAGA it was championed by … Bill Clinton’s secretary of state?

    By Marc A. Thiessen

    February 6, 2025

    Democrats are in an uproar over President Donald Trump’s plan to abolish the U.S. Agency for International Development and move its functions into the State Department. At a rally in front of the shuttered agency, Rep. Ilhan Omar (Minnesota) declared that “this is what the beginning of dictatorship looks like,” while Rep. Jamie Raskin (Maryland) said Trump “is threatening lives all over the world.”

    Please. Shuttering USAID is not some evil MAGA plot. In fact, it was first proposed by a Democrat — Secretary of State Warren Christopher — who tried to close the foreign aid agency during the Clinton administration.

    In 1995, Christopher proposed a plan to eliminate three independent foreign policy agencies — USAID, the U.S. Information Agency (USIA), the Arms Control and Disarmament Agency (ACDA) — and merge them into a “super State Department.” In a 15-page single-spaced memo, his State Department declared “the current organizational structures and activities of the department and other foreign affairs agencies … are increasingly redundant, bloated and unresponsive to policy makers.” It even produced an organizational chart showing the three abolished agencies absorbed into a new “Consolidated Department of International Relations.” This would have restored President John F. Kennedy’s original vision for USAID, which he established in 1961 by executive order as “an agency in the Department of State” — but has since grown into an massive, entrenched bureaucratic behemoth.

    Then, as now, the consolidation plan encountered fierce opposition from the foreign aid bureaucracy — USAID Director J. Brian Atwood told Christopher he would resign if his proposal went through — which managed to persuade Vice President Al Gore and his “reinventing government” team to torpedo the plan.

    But not before my then-boss, Senate Foreign Relations Committee Chairman Jesse Helms (R-North Carolina), got involved. In a Feb. 14, 1995, Post op-ed headlined “Christopher Is Right,” Helms declared he would not allow the Clinton administration to shelve “the most thoughtful reorganization of U.S. foreign affairs institutions since World War II.” USAID, Helms wrote, had become “an entrenched bureaucracy” that was “not functioning as part of a coherent, coordinated approach, maximizing the benefit of every dollar spent” and adding, “It is my intent to support Secretary Christopher against the bureaucrats who feel threatened by his long-overdue reorganization of Foggy Bottom.”

    Helms put forward a plan of his own to merge the three agencies into the State Department. Atwood went on the attack, declaring Helms an “neo-isolationist” who wanted to gut foreign aid. Big mistake. It turned out that many within USAID supported Helms’s reorganization, and some began leaking internal memos to Helms’s staff detailing waste, fraud and abuse inside the agency — which we released to the press as “Captured Enemy Documents.” Noting how Helms had famously blocked a National Endowment for the Arts grant for a performance artist who smeared her nude body with chocolate syrup, a Post article said the pugnacious senator was now “smearing AID’s nude body with chocolate syrup … pointing out AID’s supposed miscues in a series of press releases.”

    Among the captured documents was a cable from the U.S. ambassador to Chad complaining to the State Department about USAID’s attempt to fund a bizarre study on the “Viability of the Chadian State,” asking: “What exactly would we have done if they concluded that it wasn’t?” USAID projects, the ambassador said, deepened “the culture of dependency,” resulted in “little direct contact with poor people” and had “gestation periods longer than that of an African elephant.”

    Helms refused to allow a Senate vote on the Chemical Weapons Convention or payment of U.N. arrears until Clinton agreed to his reorganization plan. After a long standoff, they compromised: Congress passed, and Clinton signed, the Foreign Affairs Reform and Restructuring Act of 1998, which eliminated two of the three agencies (USIA and ACDA) and allowed USAID to remain a distinct entity but took away its independence, putting its administrator “under the direct authority and foreign policy guidance of the Secretary of State.” The bill was supported by none other than … wait for it … Sen. Joe Biden, then the ranking Democrat on the Foreign Relations Committee.

    Helms refused to allow a Senate vote on the Chemical Weapons Convention or payment of U.N. arrears until Clinton agreed to his reorganization plan. After a long standoff, they compromised: Congress passed, and Clinton signed, the Foreign Affairs Reform and Restructuring Act of 1998, which eliminated two of the three agencies (USIA and ACDA) and allowed USAID to remain a distinct entity but took away its independence, putting its administrator “under the direct authority and foreign policy guidance of the Secretary of State.” The bill was supported by none other than … wait for it … Sen. Joe Biden, then the ranking Democrat on the Foreign Relations Committee.

    Thanks to the Helms-Biden law, Secretary of State Marco Rubio has full legal authority over USAID — including the power to serve as acting director, delegate his authority to a subordinate in the State Department, pause foreign aid spending, direct staff not to report to work and move USAID functions into the State Department — all of which he has done. To permanently dismantle USAID requires an act of Congress, but short of that Rubio has broad authority over its operations.

    He is right to exercise that authority. The fact is, none of the good things USAID does cannot be done from the State Department. But too many foreign aid bureaucrats don’t like the president’s team ensuring that their work keeps with Trump’s foreign policy objectives. As Rubio correctly put it during his visit to Central America, “In many cases, USAID is involved in programs that run counter to what we’re trying to do in our national strategy with that country or with that region. That cannot continue. USAID is not an independent nongovernmental entity. It is an entity that spends taxpayer dollars, and it needs to spend it, as the statute says, in alignment with the policy directives that they get from the secretary of state, the National Security Council and the president.”

    Trump, Elon Musk and Rubio are finally making sure, as Helms insisted three decades ago, that “every dollar spent on the conduct of U.S. foreign policy is spent wisely, efficiently and in support of our national interest.”

    Somewhere, Helms — and Christopher — are smiling.

    Read the story online here.

    MIL OSI USA News –

  • MIL-OSI USA: Preventing the Spread of Avian Influenza in Poultry

    Source: US State of New York

    Governor Kathy Hochul today announced that, as part of New York State’s continued effort to combat the spread of highly pathogenic avian influenza (HPAI), the Department of Agriculture and Markets (AGM) has issued a new Notice and Order for live bird markets that have not had a detection of HPAI in New York City and Westchester, Suffolk, and Nassau counties. The order requires those markets to sell down all inventory, complete cleaning and disinfection procedures, and remain closed for a period of five days after cleaning and disinfection. In addition, the Notice and Order further outlines quarantine and depopulation procedures for markets that have confirmed detections of HPAI. This Notice and Order follows seven detections of HPAI in markets in Queens, the Bronx, and Brooklyn during routine surveillance conducted by AGM since January 31, 2025. The State reminds farmers to follow good biosecurity measures and emphasizes that the risk to humans remains low.

    “Safeguarding public health is all about being proactive, and New York State is continuing our coordinated effort to monitor for the Avian Influenza,” Governor Hochul said. “My top priority will always be to keep New Yorkers safe, and I have directed our state agencies to use all available resources to ensure we are taking every measure necessary to keep the risk to the public low. We will continue to take these measured, common sense steps that will curb the spread of bird flu and ultimately protect our communities.”

    New York State Agriculture Commissioner Richard A. Ball said, “We’re continuing to work hard with our partners to combat the spread of HPAI in New York. Today, I signed a Notice and Order requiring that live bird markets in New York City and the surrounding areas close for cleaning and disinfection, even if they haven’t yet had a detection of HPAI in their market. Following seven detections of HPAI in live bird markets in the last week, this Notice and Order is a commonsense measure aimed at getting ahead of the virus, rather than chasing it. We’re working with USDA and other partners to make sure that we can minimize the economic impact to these markets, and we very much appreciate the markets’ cooperation and assistance in protecting public and animal health.”

    New York State Health Commissioner Dr. James McDonald said, “While there is no immediate threat to public health and no known cases of HPAIin humans in New York State, we support the Department of Agriculture and Markets’ latest proactive measures to prevent the spread of the disease between animals and humans by temporarily closing live bird markets in New York City and surrounding counties. Those who have regular contact with livestock and wild birds should safeguard their health by wearing personal protective equipment when in contact with these animals. We will remain vigilant in working with our state and local partners to monitor for detections and reduce any potential risks to public health and safety.”

    New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “Through Governor Hochul’s leadership, New York State is acting aggressively to monitor for and advance actions to reduce the spread of Highly Pathogenic Avian Influenza. DEC remains committed to working comprehensively with our state and federal partners to respond to HPAI and encourages New Yorkers to use our new web-based tool to report suspected HPAI outbreaks in wildlife, and follow proper precautions when handling deceased wildlife. Visit DEC’s website for additional information on safe wildlife handling and proper disposal techniques.”

    New York City Health Department Acting Commissioner Michelle Morse said, “The current risk to New Yorkers of bird flu (H5N1) remains low. Avian influenza viruses only present a wider risk if the virus develops the ability to transmit between people – which we have not seen. The NYC Health Department will continue to work closely with the NYS Department of Agriculture and NYS Department of Health to ensure that Live Bird Market staff receive essential information and, if symptoms present themselves, receive any treatment they may need. We are prepared to respond to any disease outbreak, including quickly ramping up testing and treatment, and working closely with providers and community partners to rapidly disseminate messaging.”

    HPAI is a contagious viral disease that is known to be deadly to domestic poultry and has been transmitted within and between farms and live bird markets. The temporary shutdown mandated by the Notice and Order is necessary and essential to ensuring a break in HPAI virus transmission within the impacted markets. While AGM’s routine surveillance is effective, after finding seven detections of HPAI in live bird markets within the last week, the temporary shutdown ensures that the State can get ahead of any additional opportunities for transmission of the virus within the markets at the current time. A uniform market closure for a five-day period addresses the persistence and circulation of the virus within the markets by quickly reducing the virus prevalence to zero percent.

    Effective immediately, the Notice and Order requires that:

    • No poultry shall be delivered to live bird markets or distributors covered by the Order from February 7, 2025 through February 14, 2025.
    • Any market that harbors birds exhibiting clinical signs of HPAI must contact the Department of Agriculture and Markets immediately to undergo investigation and testing.
    • Markets that test positive for HPAI shall be depopulated; undergo cleaning and disinfection and be empty of birds for five days, at a minimum; and shall remain closed until the market passes cleaning and disinfection inspection by an AGM animal health inspector.
    • All unaffected live bird markets in New York City and Westchester, Suffolk, and Nassau counties must sell down all inventory for a period of three days beginning on February 7, 2025; complete cleaning and disinfection procedures; and subsequently close for a period of five days following cleaning and disinfection. These markets must pass a cleaning and disinfection inspection by an AGM animal health inspector before reopening.

    Cleaning and disinfection includes the removal of all organic debris from all equipment, caging, flooring, etc.; and requires that all surfaces be cleaned with soap or detergent, rinsed with water, and saturated with a disinfectant appropriate for killing the avian influenza virus, in accordance with the manufacturer’s label.

    USDA provides indemnity and compensation for losses incurred following a confirmed detection of HPAI on a premise.

    State Senator Michelle Hinchey said, “This proactive decision by NYS Agriculture and Markets to temporarily close at-risk poultry markets as a precaution against avian flu is a difficult yet necessary step to curb the spread of this highly contagious disease. New York benefits immensely from having one of the country’s top Animal Diagnostic Labs at Cornell University, which will play a critical role in limiting further spread and reducing disruptions for both farmers and businesses. We are committed to ensuring that the lab has the necessary resources to quickly respond to this and any other pathogen-based threats that may emerge.”

    Assemblymember Donna Lupardo said, “After detecting avian flu at seven live bird markets across NYS, the decision was made to temporarily close these markets. Proactive measures, while concerning to businesses and consumers alike, are necessary to help prevent the spread of a virus that has devastated poultry farms across the country. We are fortunate in NYS to have one of the country’s premier Animal Diagnostic Labs at Cornell University whose expertise will be invaluable as we navigate these waters.”

    HPAI in Poultry

    At Governor Hochul’s direction, AGM, DOH, and DEC continue to collaborate closely on proactive measures to prevent the spread of HPAI and facilitate early detection, as the risk to humans remains low. The New York State Department of Health is also reminding the public that the finding of HPAI in this market does not present an immediate public health concern. Individuals working in the markets will be assessed for potential high-risk exposure and be monitored for symptoms by the New York City Department of Health and Mental Hygiene accordingly. If any become ill, they will be evaluated for infection with avian influenza. Since the start of 2024, there have been 67 human cases of avian influenza in the United States, and none of these have been in New York State.

    AGM encourages those involved in poultry production to take extra steps to prevent their flocks from becoming infected. All poultry producers, from small backyard to large commercial operations, should review their biosecurity plans and take precautions to protect their birds. Poultry biosecurity materials and checklists can be found on the USDA’s “Defend the Flock” website.

    In addition to practicing good biosecurity, poultry owners should keep their birds away from wild ducks and geese and their droppings. Outdoor access for poultry should be limited at this time, particularly as the State continues to see HPAI detections in wild bird populations.

    To report sick birds, unexplained high number of deaths, or sudden drop in egg production, please contact AGM’s Division of Animal Industry at (518) 457-3502 or the USDA at (866) 536-7593.

    HPAI in Dairy Cattle

    In January, AGM announced that it is implementing new testing initiatives on dairy farms as part of its aggressive, proactive response to the outbreak of HPAI in livestock in other states. Working in close collaboration with federal partners, including USDA’s Animal and Plant Health Inspection Service, FDA, and the National Association of State Departments of Agriculture, and State partners, including DOH, this enhanced testing strategy is part of the State’s effort to protect animal and human health and prevent the transmission of HPAI in livestock in New York State. While there have been no detections of HPAI in livestock in New York to date, the State’s comprehensive approach is aimed at ensuring the state remains free of HPAI and facilitating early detection.

    In addition to the new testing initiative, New York State has taken multiple preventative measures to prevent the spread of HPAI and protect animal and human health since the first detection of HPAI in dairy cattle in Texas in March 2024. In April, June, and August 2024, the Department issued orders on import requirements for dairy cattle coming into New York as well as testing requirements for lactating dairy cattle entering fairs or exhibitions. These orders continue to remain in place until further notice.

    USDA offers several producer support programs that are available to all dairy producers as well as certain programs only available to dairy producers with HPAI-positive herds. These programs include tools to support biosecurity planning and implementation as well as financial support programs to offset costs associated with HPAI testing, veterinary expenses, personal protective equipment purchases, milk disposal, and milk losses.

    MIL OSI USA News –

  • MIL-OSI: In $10B Crypto Washout, BTC Maintained Neutral Funding: Bybit and Block Scholes Report

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 07, 2025 (GLOBE NEWSWIRE) —

    Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest weekly crypto derivatives report in collaboration with Block Scholes, providing a retrospective of the past week’s panic sell-off and analysis of options price movements.

    The broad retreat mirrored equities markets, leaving an estimated $10 billion-sized hole in open interest after a high-flying Friday in the 24/7 crypto markets. BTC stood out in the bloodbath as the only mainstream token maintaining positive funding rates. Meanwhile, ETH endured heightened turbulence, with sustained options market inversion suggesting continued downward pressure ahead.

    Key Insights:

    Risk-off Monday: Trump’s tariff threats sparked a broad market sell-off on Monday, Feb. 3, hammering crypto alongside U.S. equities. The carnage wiped out $3.1B in perpetual swap open interest across BTC, ETH, XRP, and SOL. Ben Zhou, co-founder and CEO of Bybit, revealed $8-10B in total liquidations as leveraged positions crumbled, an estimate based on Bybit’s platform data. The turmoil drove trading volumes to a monthly high of $31B in perpetual swaps on Feb. 2 as traders rushed for the exits.

    Altcoins Took a Hit: Bears dominated crypto markets in the aftermath of another Monday in the red. Perpetual swap funding rates spiraled downwards, likely caused by spooked traders liquidating long positons in droves. BTC faithfuls, however, managed to keep BTC funding rates afloat at neutral level.

    ETH Readies for a Bumpy Ride: ETH has demonstrated less resilience than BTC in the latest turmoil. Its spot prices suffered and dipped below $2.5k, but open interest levels held reasonably steady thanks to less-than-expected volatility in ETH options market. Still, ETH realized volatility already surged to almost 140% in the price correction, with further risks evident in options term structure, suggesting the downside hasn’t been fully priced in.   

    Access the full report, including detailed analysis of volatility trends, funding rates, and options market dynamics.

    #Bybit / #TheCryptoArk /#BybitResearch

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

    For more details about Bybit, please visit Bybit Press

    For media inquiries, please contact: media@bybit.com 

    For updates, please follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d4e42f1-78a9-4340-bbc7-3892f7d5e398

    The MIL Network –

  • MIL-OSI United Kingdom: InsideAIR podcast 109: DE&S delivering RAF warfighting capabilityListen to the latest episode of InsideAIR.04 Feb 2025

    Source: United Kingdom – Royal Air Force

    Acquiring new platforms, upgrading current platforms so they remain relevant, and ensuring the support solutions, supplies and spares are in place. This is the unsung role of Defence Equipment and Support.

    Squadron Leader Lisney talks with DE&S’s Director Fixed Wing and Director Rotary Wing, UAS and Air Enablers, to find out how they deliver warfighting capability to the RAF, and hears what to look out for in the coming years.  

    InsideAIR is produced for the Royal Air Force by RAF Media Reserves. Theme music by RAF Music Services.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The era of practical quantum computers draws closer

    Source: Anglia Ruskin University

    Practical quantum computers could help solve problems associated with rescheduling airline flights

    By Domenico Vicinanza, Anglia Ruskin University

    In 1981, American physicist and Nobel Laureate, Richard Feynman, gave a lecture at the Massachusetts Institute of Technology (MIT) near Boston, in which he outlined a revolutionary idea. Feynman suggested that the strange physics of quantum mechanics could be used to perform calculations.

    The field of quantum computing was born. In the 40-plus years since, it has become an intensive area of research in computer science. Despite years of frantic development, physicists have not yet built practical quantum computers that are well suited for everyday use and normal conditions (for example, many quantum computers operate at very low temperatures). Questions and uncertainties still remain about the best ways to reach this milestone.

    What exactly is quantum computing, and how close are we to seeing them enter wide use? Let’s first look at classical computing, the type of computing we rely on today, like the laptop I am using to write this piece.

    Classical computers process information using combinations of “bits”, their smallest units of data. These bits have values of either 0 or 1. Everything you do on your computer, from writing emails to browsing the web, is made possible by processing combinations of these bits in strings of zeroes and ones.

    Quantum computers, on the other hand, use quantum bits, or qubits. Unlike classical bits, qubits don’t just represent 0 or 1. Thanks to a property called quantum superposition, qubits can be in multiple states simultaneously. This means a qubit can be 0, 1, or both at the same time. This is what gives quantum computers the ability to process massive amounts of data and information simultaneously.

    Imagine being able to explore every possible solution to a problem all at once, instead of once at a time. It would allow you to navigate your way through a maze by simultaneously trying all possible paths at the same time to find the right one. Quantum computers are therefore incredibly fast at finding optimal solutions, such as identifying the shortest path, the quickest way.

    Think about the extremely complex problem of rescheduling airline flights after a delay or an unexpected incident. This happens with regularity in the real world, but the solutions applied may not be the best or optimal ones. In order to work out the optimal responses, standard computers would need to consider, one by one, all possible combinations of moving, rerouting, delaying, cancelling or grouping, flights.

    Every day there are more than 45,000 flights in the United States alone, and worldwide there are thousands of airlines connecting tens of thousands of airports. This problem would take years to solve for a classical computer.

    On the other hand, a quantum computer would be able to try all these possibilities at once and let the best configuration organically emerge. Qubits also have a physical property known as entanglement. When qubits are entangled, the state of one qubit can depend on the state of another, no matter how far apart they are.

    This is something that, again, has no counterpart in classical computing. Entanglement allows quantum computers to solve certain problems exponentially faster than traditional computers can.

    A common question is whether quantum computers will completely replace classical computers or not. The short answer is no, at least not in the foreseeable future. Quantum computers are incredibly powerful for solving specific problems – such as simulating the interactions between different molecules, finding the best solution from many options or dealing with encryption and decryption. However, they are not suited to every type of task.

    Classical computers process one calculation at a time in a linear sequence, and they follow algorithms (sets of mathematical rules for carrying out particular computing tasks) designed for use with classical bits that are either 0 or 1. This makes them extremely predictable, robust and less prone to errors than quantum machines. For everyday computing needs such as word processing or browsing the internet, classical computers will continue to play a dominant role.

    There are at least two reasons for that. The first one is practical. Building a quantum computer that can run reliable calculations is extremely difficult. The quantum world is incredibly volatile, and qubits are easily disturbed by things in their environment, such as interference from electromagnetic radiation, which makes them prone to errors.

    The second reason lies in the inherent uncertainty in dealing with qubits. Because qubits are in superposition (are neither a 0 or 1) they are not as predictable as the bits used in classical computing. Physicists therefore describe qubits and their calculations in terms of probabilities. This means that the same problem, using the same quantum algorithm, run multiple times on the same quantum computer might return a different solution each time.

    To address this uncertainty, quantum algorithms are typically run multiple times. The results are then analysed statistically to determine the most likely solution. This approach allows researchers to extract meaningful information from the inherently probabilistic quantum computations.

    From a commercial point of view, the development of quantum computing is still in its early stages, but the landscape is very diverse with lots of new companies appearing every year. It is fascinating to see that in addition to big, established companies like IBM and Google, new ones are joining, such as IQM, Pasqal and startups such as Alice and Bob. They are all working on making quantum computers more reliable, scalable and accessible.

    In the past, manufacturers have drawn attention to the number of qubits in their quantum computers, as a measure of how powerful the machine is. Manufacturers are increasingly prioritising ways to correct the errors that quantum computers are prone to. This shift is crucial for developing large-scale, fault-tolerant quantum computers, as these techniques are essential for improving their usability.

    Google’s latest quantum chip, Willow, recently demonstrated remarkable progress in this area. The more qubits Google used in Willow, the more it reduced the errors. This achievement marks a significant step towards building commercially relevant quantum computers that can revolutionise fields like medicine, energy and AI.

    After more than 40 years, quantum computing is still in its infancy, but significant progress is expected in the next decade. The probabilistic nature of these machines represents a fundamental difference between quantum and classical computing. It is what makes them fragile and hard to develop and scale.

    At the same time, it is what makes them a very powerful tool to solve optimisation problems, exploring multiple solutions at the same time, faster and more efficiently than classical computers can.

    Domenico Vicinanza, Associate Professor of Intelligent Systems and Data Science, Anglia Ruskin University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    The opinions expressed in VIEWPOINT articles are those of the author(s) and do not necessarily reflect the views of ARU.

    If you wish to republish this article, please follow these guidelines: https://theconversation.com/uk/republishing-guidelines

    MIL OSI United Kingdom –

  • MIL-OSI: Tenable Completes Acquisition of Vulcan Cyber

    Source: GlobeNewswire (MIL-OSI)

    COLUMBIA, Md., Feb. 07, 2025 (GLOBE NEWSWIRE) — Tenable® Holdings, Inc., (“Tenable”) (Nasdaq: TENB) the exposure management company, today announced it has closed its acquisition of Vulcan Cyber Ltd., (“Vulcan Cyber”), a leading innovator in exposure management.

    Vulcan Cyber’s capabilities will enhance Tenable’s industry-leading Exposure Management platform, delivering comprehensive visibility, prioritization and remediation across the entire attack surface.

    “As we welcome our new team members to Tenable, we will immediately begin working on the integration process to drive expanded data insights that will better prioritize risks and simplify remediation efforts for our customers,” said Steve Vintz, Co-CEO and CFO, Tenable. “This move accelerates our exposure management vision, which we believe will set a new standard for accuracy in risk mitigation in the industry.”

    With enhanced visibility, extended third-party data flows, superior risk prioritization, and automated remediation, Tenable One will consolidate and aggregate vast amounts of data into one of the most comprehensive Exposure Management platforms available on the market. This will empower organizations to confidently reduce risk across their entire environment.

    Financial Outlook

    Our financial outlook below reflects the impact of Vulcan Cyber.

    For the first quarter of 2025, we currently expect:

    • Revenue in the range of $233.0 million to $235.0 million.
    • Non-GAAP income from operations in the range of $40.0 million to $42.0 million.
    • Non-GAAP net income in the range of $32.0 million to $34.0 million, assuming interest income of $3.8 million, interest expense of $7.0 million and a provision for income taxes of $3.6 million.
    • Non-GAAP diluted earnings per share in the range of $0.26 to $0.27.
    • 124.0 million diluted weighted average shares outstanding.

    For the year ending December 31, 2025, we currently expect:

    • Calculated current billings in the range of $1.045 billion to $1.060 billion.
    • Revenue in the range of $975.0 million to $985.0 million.
    • Non-GAAP income from operations in the range of $205.0 million to $215.0 million.
    • Non-GAAP net income in the range of $175.0 million to $185.0 million, assuming interest income of $15.3 million, interest expense of $28.3 million and a provision for income taxes of $13.4 million.
    • Non-GAAP diluted earnings per share in the range of $1.41 to $1.49.
    • 124.5 million diluted weighted average shares outstanding.
    • Unlevered free cash flow in the range of $265.0 million to $275.0 million.

    Additional Resources

    • Read today’s blog post on the acquisition here.
    • Request a demo of Tenable One.

    About Tenable
    Tenable® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for approximately 44,000 customers around the globe. Learn more at tenable.com.

    Forward-Looking Statements
    This press release contains forward-looking information related to Tenable, and its acquisition of Vulcan Cyber Ltd. that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. You can generally identify forward-looking statements by the use of forward-looking terminology such as the words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. The forward-looking statements in this press release are based on Tenable’s current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties, many of which are beyond Tenable’s control. Forward-looking statements in this communication include, among other things, statements regarding the impact of the Vulcan Cyber acquisition on our future results of operations and financial position, statements about the potential benefits of the acquisition and product developments and other possible or assumed business strategies, potential growth opportunities, new products, potential market opportunities, and the anticipated timing of the closing of the acquisition. Risks and uncertainties include, among other things, our ability to successfully integrate Vulcan Cyber’s operations; our ability to implement our plans, expectations with respect to Vulcan Cyber’s business; our ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period; disruption from the acquisition making it more difficult to maintain business and operational relationships; the inability to retain key employees; the negative effects of the consummation of the acquisition on the market price of our common stock or on our operating results; unknown liabilities; attracting new customers and maintaining and expanding our existing customer base; our ability to scale and update our platform to respond to customers’ needs and rapid technological change, increased competition on our market and our ability to compete effectively, and expansion of our operations and increased adoption of our platform internationally.

    Additional risks and uncertainties that could affect our financial results are included in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2023, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and other filings that we make from time to time with the Securities and Exchange Commission (“SEC”) which are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements contained in this communication are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

    Contact Information

    Investor Relations
    investors@tenable.com

    Media Relations
    Tenable
    tenablepr@tenable.com

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    The following adjustments to reconcile forecasted non-GAAP income from operations, non-GAAP net income, non-GAAP earnings per share, free cash flow and unlevered free cash flow are subject to a number of uncertainties and assumptions, each of which are inherently difficult to forecast. As a result, actual adjustments and GAAP results may differ materially.

    Forecasted Non-GAAP Income from Operations Three Months Ending
    March 31, 2025    		   Year Ending
    December 31, 2025
    (in millions) Low   High   Low   High
    Forecasted loss from operations $ (27.0 )   $ (25.0 )   $ (21.0 )   $ (11.0 )
    Forecasted stock-based compensation   55.0       55.0       195.0       195.0  
    Forecasted acquisition-related expenses   6.0       6.0       6.0       6.0  
    Forecasted amortization of acquired intangible assets   6.0       6.0       25.0       25.0  
    Forecasted non-GAAP income from operations $ 40.0     $ 42.0     $ 205.0     $ 215.0  
    Forecasted Non-GAAP Net Income and Non-GAAP Earnings Per Share Three Months Ending
    March 31, 2025    		   Year Ending
    December 31, 2025
    (in millions, except per share data) Low   High   Low   High
    Forecasted net loss(1) $ (36.0 )   $ (34.0 )   $ (56.0 )   $ (46.0 )
    Forecasted stock-based compensation   55.0       55.0       195.0       195.0  
    Forecasted tax impact of stock-based compensation   1.0       1.0       5.0       5.0  
    Forecasted acquisition-related expenses   6.0       6.0       6.0       6.0  
    Forecasted amortization of acquired intangible assets   6.0       6.0       25.0       25.0  
    Forecasted non-GAAP net income $ 32.0     $ 34.0     $ 175.0     $ 185.0  
                   
    Forecasted net loss per share, diluted(1) $ (0.30 )   $ (0.28 )   $ (0.46 )   $ (0.38 )
    Forecasted stock-based compensation   0.46       0.46       1.61       1.61  
    Forecasted tax impact of stock-based compensation   0.01       0.01       0.04       0.04  
    Forecasted acquisition-related expenses   0.05       0.05       0.05       0.05  
    Forecasted amortization of acquired intangible assets   0.05       0.05       0.21       0.21  
    Adjustment to diluted earnings per share(2)   (0.01 )     (0.02 )     (0.04 )     (0.04 )
    Forecasted non-GAAP earnings per share, diluted $ 0.26     $ 0.27     $ 1.41     $ 1.49  
                   
    Forecasted weighted-average shares used to compute GAAP net loss per share, diluted   120.5       120.5       121.0       121.0  
    Forecasted weighted-average shares used to compute non-GAAP earnings per share, diluted   124.0       124.0       124.5       124.5  

    ________________
    (1)  The forecasted GAAP net loss assumes income tax expense of $4.6 million and $18.4 million in the three months ending March 31, 2025 and year ending December 31, 2025, respectively.

    (2)  Adjustment to reconcile GAAP net loss per share, which excludes potentially dilutive shares, to non-GAAP earnings per share, which includes potentially dilutive shares.

       
    Forecasted Free Cash Flow and Unlevered Free Cash Flow Year Ending
    December 31, 2025
    (in millions) Low   High
    Forecasted net cash provided by operating activities $ 258.0     $ 268.0  
    Forecasted purchases of property and equipment   (17.0 )     (17.0 )
    Forecasted capitalized software development costs   (3.0 )     (3.0 )
    Forecasted free cash flow   238.0       248.0  
    Forecasted cash paid for interest and other financing costs   27.0       27.0  
    Forecasted unlevered free cash flow $ 265.0     $ 275.0  

    The MIL Network –

  • MIL-OSI USA: PHRC discusses 2024 ‘No Hate in Our State’ Report

    Source: US State of Pennsylvania

    February 05, 2025 – Harrisburg, PA

    PHRC discusses 2024 ‘No Hate in Our State’ Report

    The Pennsylvania Human Relations Commission (PHRC) joined by state and local leaders at the state Capitol, discuss their newly released 2024 ‘No Hate in Our State’ report, which details trending discrimination statistics throughout the Commonwealth. The speakers discussed programs and initiatives offered by the PHRC and others to help eliminate hate and build a community of support and understanding.

    PHRC Executive Director Chad Dion Lassiter said, “As the Commonwealth’s civil rights enforcement agency, it is our responsibility to not only investigate all complaints of discrimination, but to truly live up to our vision, ‘that all people in Pennsylvania will live, work, and learn free from unlawful discrimination.’”

    In 2025, the PHRC will mark 70 years since its creation. It was crafted from two pieces of legislation, the Pennsylvania Fair Employment Act of 1955 (later changed to the Pennsylvania Human Relations Act in 1997) and the Pennsylvania Fair Educational Opportunities Act of 1961. In general, Pennsylvania law prohibits discrimination based on race, color, religious creed, ancestry, age (40 and over), sex, national origin, familial status (only in housing), disability, and the use, handling, or training of support or guide animals for disability. Retaliation for filing a complaint, opposing unlawful behavior, or assisting investigations is also illegal.

    Speakers in Order:
    Amanda Brothman – Communications Director, Pennsylvania Human Relations Commission (PHRC)
    Chad Dion Lassiter – Executive Director, PHRC
    Senator Vincent Hughes – 7th District, Montgomery & Philadelphia Counties
    Michael Hardiman – Commissioner, PHRC
    Ahmet Tekelioglu – Executive Director, CAIR
    Yemi Baitista – Chair, Adams County Advisory Council to the PHRC
    Rep. Christopher Rabb – 200th District, Philadelphia County
    Rev. Marshall Mitchell – Senior Pastor of Salem Baptist Church

    MIL OSI USA News –

  • MIL-OSI: TSplus Headquarters Meeting in Paris Sets the Stage for a Promising 2025

    Source: GlobeNewswire (MIL-OSI)

    PARIS, Feb. 07, 2025 (GLOBE NEWSWIRE) — Last week, the TSplus headquarters team convened in Paris for a pivotal two-day meeting to reflect on the successes of 2024 and outline strategic objectives for 2025. The gathering brought together key members of the global TSplus network and featured insightful discussions on the company’s future growth and innovations.

    TSplus Welcomes New Talent and Celebrates Achievements

    The meeting opened with a warm welcome to new recruits who will play essential roles in advancing TSplus’s global initiatives. Adrien Philippe now leads the worldwide pre-sales team, joined by Michael and Waddi. In China, three new hires—Neo (Sales Development), Chen (Marketing), and Yi (Communications Liaison from France)—have been onboarded to strengthen operations and communication between Shanghai and the headquarters.

    Henri Marlin, COO, shared exciting news as TSplus achieved a significant milestone: for the first time in its history, the company’s turnover has surpassed $10 million. This impressive growth reflects TSplus’s commitment to innovation, customer-centric strategies, and global market expansion.

    Strategic Focus Areas for TSplus in 2025

    Dominique laid out TSplus’ roadmap towards 2030, emphasizing the need for robust reseller networks, innovative products, effective sales strategies, and strong partnerships. He identified six strategic pillars for 2025:

    • Video Production: Enhanced marketing strategies leveraging multimedia content.
    • Expansion in China and the USA: With new hires and development initiatives.
    • Prospection Database: Supporting localized market exploration.
    • Remote Connect Release: Simplified remote support for individual users.
    • RDS-Tools: Continued development and integration.
    • AI Tools: Leveraging artificial intelligence to drive innovation.

    TSplus Technical Developments and Product Innovation

    TSplus’ product development team focused in 2024 on enhancing its flagship solutions, Remote Support and Advanced Security, prioritizing user experience and cross-platform compatibility. For 2025, ambitious plans are in place, including:

    • Further enhancements to the Remote Support Android app and the development of an iOS version.
    • Introduction of unattended access features and extended compatibility with a wide range of mobile devices.
    • Major updates to Remote Access, improving session launch times, enhancing the web application portal, and making it a true corporate platform.
    • Advanced Security improvements focusing on streamlined configuration synchronization and stronger ransomware protection.
    • Release of Server Monitoring version 6, introducing SMS alerts, TLS server monitoring, and data security enhancements.

    Additionally, a complete overhaul of the License Portal will optimize user experience and integrate the SaaS model for all TSplus products, facilitating seamless subscription-based services.

    Marketing and Branding Initiatives to Increase TSplus Notoriety

    David Bismuth, executing video production efforts, aims to create engaging, AI-driven multilingual videos to bolster the company’s social media strategy. These efforts will complement ongoing SEO optimization and content creation initiatives, which drove impressive web traffic growth in 2024.

    TSplus will continue expanding its presence on key platforms, including LinkedIn, Facebook, and potentially Reddit, to increase brand awareness and engagement. The development of a case studies portfolio, leveraging customer insights, is also underway to highlight success stories.

    Insights and Keys to Shine in Remote Access Market in 2025

    A highlight of the event was the keynote speech by Xavier Fontanet, former CEO of Essilor and a renowned business strategist. He shared invaluable advice on thriving as a smaller player in markets dominated by giants like Citrix and Microsoft. Fontanet’s “small fish” strategy emphasized the advantages of specialization and gradual market expansion through niche targeting.

    Looking ahead, TSplus is excited to host its next international meeting in Bali in April 2025. With a clear roadmap, a motivated team, and ambitious goals, TSplus continues its mission to provide innovative, reliable solutions for remote access and cybersecurity.

    TSplus invites IT resellers and professionals to join the TSplus Partner program: https://tsplus.net/partner-program/.

    About TSplus

    TSplus is a global provider of remote access, cybersecurity, and managed services solutions. With a commitment to innovation and customer-centric strategies, TSplus empowers businesses of all sizes to achieve secure and efficient remote operations.

    Media Contact:

    Caleb Zaharris

    Marketing Director,

    Email: caleb.zaharris@tsplus.net

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/07579445-2084-422a-b176-e498086e2857

    https://www.globenewswire.com/NewsRoom/AttachmentNg/91a278f2-19d8-4452-b2ee-878337549595

    The MIL Network –

  • MIL-OSI Economics: Samsung Galaxy S25 Series is Available Starting Today

    Source: Samsung

    Samsung Electronics America today announced the U.S. availability of the new Galaxy S25 series. With One UI 7, Gemini is officially available at launch in 46 languages,1 making it easier than ever to perform seamless interactions across Samsung and Google apps.
    “The Galaxy S25 series is a fundamental shift in how we interact with our phones,” said TM Roh, President and Head of Mobile eXperience Business at Samsung Electronics. “We are thrilled to see how our users will enjoy this true AI companion that offers seamless and intuitive solutions in their daily lives.”
    On the Galaxy S25 series, AI agents with multimodal capabilities are integrated within the One UI 72 platform to perform complex tasks seamlessly across apps and enable natural user interactions through speech, text, videos, and images. Now Brief3 provides tailored suggestions to guide the day and Now Bar4 offers a new hub for ongoing activities. From enhanced productivity with Writing Assist to limitless creativity unleashed by Drawing Assist, the expanded capabilities of Galaxy AI5 continue to empower users in every aspect of their daily lives.

    Interactions with the Galaxy S25 series are also more intuitive. With just a single command Gemini6 can effortlessly find a user’s favorite sports team’s schedule and add it to Samsung Calendar. Additionally, Google’s enhanced Circle to Search7 now gives users more helpful information with AI Overviews and one-tap actions.
    The Galaxy S25 series further refines and enhances the core capabilities that define the Galaxy experience. Powering the Galaxy S25 series, the Snapdragon® 8 Elite Mobile Platform for Galaxy fuels on-device processing for more responsive AI experiences than previous gen Galaxy devices. With unique customizations for Galaxy, including ProScaler8 and Samsung’s mobile Digital Natural Image engine (mDNIe), the Galaxy S25 series boasts enhanced AI image processing and display power efficiency. The newly introduced 50MP ultrawide camera sensor on Galaxy S25 Ultra delivers epic shots from every range in exceptional clarity while professional grade controls like Virtual Aperture and Samsung Log turn any photo or video into the ultimate visual experience.

    The Galaxy S25 series is the industry’s first smartphone lineup to support Content Credentials, based on the open technical standard from the Coalition for Content Provenance and Authenticity (C2PA). Samsung has also joined the C2PA as a member, alongside industry leaders including Adobe, Microsoft, OpenAI, Google, Publicis Groupe, and more, all collaborating to establish Content Credentials as the universal standard for digital content provenance. In line with its commitment to responsible mobile AI innovation, Samsung adopted this standard to enhance transparency for content created and edited with generative AI.
    Galaxy S25 Ultra, Galaxy S25+, and Galaxy S25 are available in the U.S. starting today. Check out Samsung.com for all the latest deals and offers, including the New Galaxy Club early upgrade program.

    MIL OSI Economics –

  • MIL-OSI Global: AI can boost economic growth, but it needs to be managed incredibly carefully

    Source: The Conversation – UK – By Professor Ashley Braganza, Professor of Business Transformation, Brunel University of London

    Erman Gunes / Shutterstock

    The UK government’s efforts to integrate artificial intelligence (AI) into public services and stimulate economic growth represents a pivotal step in the roll out of the technology in this country.

    AI offers the promise of improving public services by enabling faster, more efficient processes, personalising provision of those services for the public and optimising decision-making. However, the adoption of this technology in public systems brings inherent risks, particularly in an environment characterised by rapid technological developments.

    A primary concern and challenge lies in ensuring that AI adoption builds trust in public services. Mismanagement of AI can worsen inequality, lead to job losses, and erode public confidence in government and the further rollout of AI-based technologies.

    Balancing these opportunities and risks requires understanding the trade offs involved, notably the tension between job creation and displacement, unconstrained benefits from the misuse of AI, and the need for fairness, transparency, equity and a capacity to be able to explain the design of algorithms.

    AI has the potential to generate employment in fields such as data science, algorithm design and system maintenance. However, automating routine administrative tasks such as form processing and record management threatens to make many public sector roles redundant.

    The challenge lies in maintaining efficiency and accountability while addressing inevitable job gigification. This transition will not be uniform. Workers in roles vulnerable to automation will experience immediate consequences.

    The government has rightly identified the need to invest in reskilling initiatives that prepare workers for an AI-driven future. Reskilling is necessary but insufficient to fuel economic growth.

    As tasks are gigified by AI technologies, traditional full-time jobs become increasingly scarce, leading to more “white collar” workers experiencing income volatility, periods of un- or underemployment and precarious living. Yet, extant financial systems are based upon patterns of monthly income and expenditure on mortgages and rent or utilities.

    Financial systems need to become significantly more flexible to enable workers to align uncertain income streams with unavoidable regular expenditure on necessities such as food and internet connectivity.

    Oversight is key

    The risks of AI algorithm failures are particularly apparent when systems deployed in the public sector cause harm. A glaring example is the UK Post Office scandal, where inaccurate data from the Horizon IT system led to wrongful prosecutions.

    This case highlights the importance of oversight in AI deployment. Without a mix of regulations, guidelines and guardrails, errors in AI systems can lead to serious consequences, particularly in sectors related to justice, welfare and resource allocation.

    Government must ensure that AI-driven systems are not only efficient and accurate but also auditable. Independent bodies should oversee the design, implementation, and evaluation of AI systems to reduce risks of failure.

    AI can enhance public services, but it is important to acknowledge that algorithms reflect biases inherent in their design and training data. In the public sector, these biases can have unintended and unforeseen consequences that are invidious, as they are hidden in the depths of complex computer code.

    For instance, AI systems used in housing allocation can exacerbate existing inequalities if trained on biased historical data. Fairness and trust should therefore be core principles in AI development. Developers must use diverse, representative datasets and conduct bias audits throughout the process.

    Citizen engagement is essential, as affected communities can provide valuable input to identify flaws and contribute to solutions that promote equity.
    A key challenge for policymakers is whether AI can deliver on its promise without deepening social divisions or reinforcing discriminatory practices. Transparency in AI decision making is essential for maintaining public trust.

    Citizens are more likely to trust systems when they understand how decisions are made. Governments should commit to clear, accessible communication about AI systems, allowing individuals to challenge and appeal automated decisions. While AI adoption will likely cause disruption in the early stages, these challenges can diminish over time, leading to faster, more personalised services and more meaningful work opportunities for government employees.

    AI systems are dynamic, continuously evolving with the data they process and the contexts in which they operate. Governments must prioritise ongoing review and auditing of AI systems to ensure they meet public needs and ethical standards. Engaging relevant stakeholders – citizens, public sector employees and private sector partners – is essential to this process.

    Transparent communication about the goals, benefits, and limitations of AI helps build public trust and ensures that AI systems remain responsive to societal needs. Independent audits conducted by multidisciplinary teams can identify flaws early and prevent harm. To fully realise AI’s potential and ensure its benefits are distributed equitably, policymakers must carefully balance efficiency, fairness, innovation, and accountability.

    A strategic focus on education, ethical algorithm design and transparent governance is necessary. By investing in education, AI ethics and strong regulatory frameworks, governments can ensure that AI becomes a tool for societal progress while minimising unintended adverse consequences.

    S. Asieh Hosseini Tabaghdehi works for Brunel University of London. She received funding from UKRI (ESRC) to investigate the ethical implication of digital footprint data in SMEs value creation.

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

    – ref. AI can boost economic growth, but it needs to be managed incredibly carefully – https://theconversation.com/ai-can-boost-economic-growth-but-it-needs-to-be-managed-incredibly-carefully-248578

    MIL OSI – Global Reports –

  • MIL-OSI: Wearable Devices Introduces AI-Powered LLM for Next-Level Gesture Control

    Source: GlobeNewswire (MIL-OSI)

    The Large MUAP Models (LMM) AI-powered neural gesture technology enables personalized, intuitive interactions for the AI and XR era

    Yokneam Illit, Israel, Feb. 07, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, is proud to announce a groundbreaking advancement in human-computer interaction: Large MUAP Models (“LMM”). Building on the success of LLMs in natural language processing, Wearable Devices is actively developing LMMs with the goal to revolutionize how we interact with digital devices, aiming to offer personalized, intuitive gesture control powered by neural data.

    While still in development, this innovative technology, as previously announced, holds immense potential to redefine human-device interaction.

    The LMM Revolution: Decoding the Neural Alphabet

    Just as LLMs unlocked the power of language for AI, LMMs aim to unlock the power of neural gestures for seamless, natural interactions. By decoding Motor Unit Action Potentials (MUAPs)—the body’s language for communicating with muscles—Wearable Devices has created a new paradigm for gesture control. LMMs are harnessing the potential of big data to enable devices to understand and predict user intentions with unprecedented speed and precision, making interactions faster and more intuitive than ever before.

    Personalized Gestures for a Natural User Experience

    At the heart of LMMs is personalization. The technology learns from individual users, creating a unique neural profile that will enable gestures tailored to each person’s natural movements. Whether it’s a subtle thumb swipe to select an option or a pinch-to-zoom gesture in augmented reality, LMMs will make interactions feel effortless and intuitive. “With LMMs, we are decoding the neural alphabet, potentially unlocking a strategically vital technology that fuses human neurology with AI. This breakthrough has the potential to create sci-fi-like superhuman abilities, giving a fundamental edge to whoever masters it first,” said Guy Wagner, Chief Scientific Officer of Wearable Devices.

    Wearable Devices’ flagship products, such as the Mudra Band for Apple Watch and the Mudra Link for universal device control, are already demonstrating the power of neural interfaces. These devices allow users to control their digital environments with simple, natural gestures. LMMs have the potential to make our current technology user-personalized, paving the way for a future where wearable technology is seamlessly integrated into our daily lives.

    The Future of AI and XR: Powered by Neural Gestures

    As spatial computing becomes the next computing platform, LMMs will provide the intuitive, natural interactions needed to unlock its full potential. Wearable Devices is focused on developing this technology and plans to seek collaboration with leading companies to integrate LMMs into next-generation extended reality (XR) platforms, ensuring that users can interact with their digital environments in ways that feel as natural as moving their hands.

    “The future of XR and AI interactions is here, and it starts with your wrist,” added Mr. Wagner. “With LMMs, we are not just imagining the future—we are building it.”

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a pioneering growth company revolutionizing human-computer interaction through its AI-powered neural input technology for both consumer and business markets. Leveraging proprietary sensors, software, and advanced AI algorithms, the Company’s innovative products, including the Mudra Band for iOS and Mudra Link for Android, enable seamless, touch-free interaction by transforming subtle finger and wrist movements into intuitive controls. These groundbreaking solutions enhance gaming, and the rapidly expanding AR/VR/XR landscapes. The Company offers a dual-channel business model: direct-to-consumer sales and enterprise licensing. Its flagship Mudra Band integrates functional and stylish design with cutting-edge AI to empower consumers, while its enterprise solutions provide businesses with the tools to deliver immersive and interactive experiences. By setting the input standard for the XR market, Wearable Devices is redefining user experiences and driving innovation in one of the fastest-growing tech sectors. Wearable Devices’ ordinary shares and warrants trade on the Nasdaq under the symbols “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits and advantages of our devices and technology, including the potential of LMMs, and that we are focused on developing this technology and plan to seek collaboration with leading companies to integrate LMMs into next-generation XR platforms. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. 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. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations Contact

    Michal Efraty
    IR@wearabledevices.co.il

    The MIL Network –

  • MIL-OSI Global: How AI can help in the creative design process

    Source: The Conversation – USA – By Tilanka Chandrasekera, Professor of Interior Design, Oklahoma State University

    A student works on a design in a fashion merchandising lab. Fashion Merchandising Labs at Oklahoma State University, CC BY-ND

    Generative artificial intelligence tools can help design students by making hard tasks easier, cutting down on stress, and allowing the students more time to explore innovative ideas, according to new research I published with my colleagues in the International Journal of Architectural Computing.

    I study how people think about design and use technology, and my research focuses on how tools such as AI can help make the design process more efficient and creative.

    Why it matters

    Our study found that AI design tools didn’t just make the designs better – they also made the process easier and less stressful for students.

    Imagine trying to come up with a cool idea in response to a design assignment, but it’s hard to picture it in your head. These tools step in and quickly show what your idea could look like, so you can focus on being creative instead of worrying about little details. This made it easier for students to brainstorm and come up with new ideas. The AI tools also made more design variations by introducing new and unexpected details, such as natural shapes and textures.

    A design fueled by artificial intelligence: The left image is the result of the text-to-image technology, and the image on the right is the design completed by the student.
    Oklahoma State University, CC BY-ND
    A design by a student without using artificial intelligence.
    Oklahoma State University, CC BY-ND

    How we did our work

    My colleagues and I worked with 40 design students and split them into two groups.

    One group used AI to help design urban furniture, such as benches and seating for public spaces, while the other group didn’t use AI. The AI tool created pictures of the first group’s design ideas from simple text descriptions. Both groups refined their ideas by either sketching them by hand or with design software.

    Next, the two groups were given a second design task. This time, neither group was allowed to use AI. We wanted to see whether the first task helped them learn how to develop a design concept.

    My colleagues and I evaluated the students’ creativity on three criteria: the novelty of their ideas, the effectiveness of their designs in solving the problem, and the level of detail and completeness in their work. We also wanted to see how hard the tasks felt for them, so we measured something called cognitive load using a well-known tool called the NASA task load index. This tool checks how much mental effort and frustration the students experienced.

    The group of students who used AI in the first task had an easier time in the second task, feeling less overwhelmed compared with those who didn’t use AI.

    The final designs of the AI group also showed a more creative design process in the second task, likely because they learned from using AI in the first task, which helped them think and develop better ideas.

    What’s next

    Future research will look at how AI tools can be used in more parts of design education and how they might affect the way professionals work.

    One challenge is making sure students don’t rely too much on AI, which could hurt their ability to think critically and solve problems on their own.

    Another goal is to make sure as many design students as possible have access to these tools.

    The Research Brief is a short take on interesting academic work.

    Tilanka Chandrasekera receives funding from external funding agencies such as the National Science Foundation (NSF)

    – ref. How AI can help in the creative design process – https://theconversation.com/how-ai-can-help-in-the-creative-design-process-244718

    MIL OSI – Global Reports –

  • MIL-OSI: CLEAR Launches New Lanes at Portland International Airport

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, ORE. and NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) — Today, CLEAR (NYSE: YOU), the secure identity company, is launching its identity verification technology at Portland International Airport (PDX), bringing frictionless and predictable travel experiences to Oregon. CLEAR’s launch at PDX is expected to create 53 jobs and generate over $3 million annually in local economic impact.

    “We are thrilled to welcome CLEAR, a world class service, to a world class airport! This valuable addition is now available to travelers at PDX, meeting the growing demand for convenience while upholding the city’s commitment to consumer rights and responsible technology use,” said Portland Metro Chamber President and CEO Andrew Hoan. “Technology should make life easier for all, and CLEAR’s approach at PDX reflects that balance—enhancing the traveler experience while respecting local policies and the rights of the public. Welcome CLEAR to Portland, and we look forward to seeing it benefit our community.”

    “When we opened our new main terminal last summer, we often got asked: Will CLEAR be coming to PDX? Today, we’re excited to deliver that option for our travelers,” said Dan Pippenger, Chief Aviation Officer at Port of Portland. “With the addition of CLEAR, we’re continuing to improve and streamline the travel experience while maintaining the highest standards of safety and security.”

    “We’re thrilled to bring CLEAR to Portland and help PDX travelers experience a smoother, more predictable journey,” said CLEAR CEO Caryn Seidman-Becker. “We share PDX’s dedication to enhancing the customer experience and are excited to be part of making travel to and from Oregon faster and easier.”

    Today’s launch represents continued growth in CLEAR’s national footprint, where it serves a total of 59 airports with its opt-in CLEAR Plus membership and over 27 million Members. Members use CLEAR’s network of dedicated lanes to seamlessly and securely verify their identity with their eyes or fingerprints, replacing the need to take out their wallet and driver’s license. After verification, a CLEAR Ambassador escorts Members through the dedicated lane and directly to TSA physical security, with the goal of saving them time waiting in line at the security checkpoint.

    CLEAR Plus – an opt-in membership that provides access to CLEAR’s expedited identity verification lanes – costs a little more than $16 a month billed annually, with preferred pricing available for Delta Air Lines, United Airlines, Alaska Airlines and American Express Members. Newly enrolling active military, veterans, and government officials are also eligible for discounted memberships, and additional family Members can be added to an existing CLEAR Plus account for $119 per adult per year.

    About Port of Portland
    With three airports, four marine terminals, and five business parks, the Port of Portland is an economic engine for transforming the region into a place where everyone is welcome, empowered, and connected to the opportunity to find a good job or grow their business. The Port works to pull down barriers and provide access to people and local businesses who have been left out of the region’s economic growth—including people of color, low-income workers, and people with disabilities. Collectively, the Port leads big projects in the region, including expanding PDX airport and making it more accessible and efficient; transforming a former marine terminal into a site for innovation in the housing construction and mass timber industries; and providing more options for Pacific Northwest businesses to send their products around the world. For more information, visit www.PortofPortland.com.

    About CLEAR (NYSE: YOU)
    CLEAR’s mission is to create frictionless experiences. With over 27 million Members and a growing network of partners across the world, CLEAR’s identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell Member data. For more information, visit clearme.com.

    Forward-Looking Statements
    This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in the Company’s filings within the Securities and Exchange Commission, including the sections titled “Risk Factors” in our Annual Report on Form 10- K. The Company disclaims any obligation to update any forward-looking statements contained herein.

    Contact
    CLEAR
    media@clearme.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Plains All American Reports Fourth-Quarter and Full-Year 2024 Results; Provides Update on Efficient Growth Initiatives and Announces 2025 Guidance

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 07, 2025 (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported fourth-quarter and full-year 2024 results, announced 2025 guidance and provided the following highlights:

    2024 Results

    • Fourth-quarter and full-year 2024 Net income attributable to PAA of $36 million and $772 million, respectively, and 2024 Net cash provided by operating activities of $726 million and $2.49 billion, respectively
    • Delivered strong fourth-quarter and full-year 2024 Adjusted EBITDA attributable to PAA above the top-end of guidance with $729 million and $2.78 billion, respectively
    • Generated full-year 2024 Adjusted Free Cash Flow (excluding changes in Assets & Liabilities; including impact from legal settlements) of $1.17 billion and exited the year with leverage at 3.0x
    • Net income for the quarter includes the impact of a $225 million charge resulting from the write-off of a receivable for Line 901 insurance proceeds and $140 million of non-cash charges related to the write-down of two U.S. NGL terminals

    Efficient Growth Initiatives

    • Closed all three previously announced bolt-on acquisitions for approximately $670 million net to PAA, including the acquisition of Ironwood Midstream Energy
    • Closed on previously announced purchase of approximately 12.7 million units, or 18%, of its Series A Preferred Units for a purchase price of approximately $330 million
    • Continue pursuing a long runway of synergistic and strong return bolt-on opportunities across the asset footprint

    2025 Outlook

    • Expect full-year 2025 Adjusted EBITDA attributable to PAA of $2.80 – $2.95 billion
    • Announced distribution increase of $0.25 per unit payable February 14, 2025, representing a 20% aggregate increase in the annualized distribution versus 2024 levels (new annual distribution of $1.52 per unit)
    • In January, successfully raised $1 billion in aggregate senior unsecured notes at 5.95% due 2035
    • Anticipate leverage ratio to be at or below the low-end of leverage target range of 3.25x to 3.75x, continuing to provide significant balance sheet optionality and flexibility
    • Expect to generate approximately $1.15 billion of Adjusted Free Cash Flow (excluding changes in Assets & Liabilities), which is reduced by approximately $580 million for previously announced bolt-on transactions closed in the first quarter
    • Remain focused on disciplined capital investments, anticipating full-year 2025 Growth Capital of +/- $400 million and Maintenance Capital of +/- $240 million net to PAA

    “We continue delivering strong financial and operating results and increasing return of capital to unitholders. As evidenced by our recently announced acquisitions, we have the ability to leverage our integrated asset base and financial strength to drive accretive transactions and deliver value to our customers and unitholders,” said Plains Chairman and CEO Willie Chiang. “We remain confident entering 2025, with strong operational momentum and focus on executing our efficient growth strategy. Our strong performance and positive outlook combined with the contribution from recent bolt-on acquisitions continues driving meaningful cash flow and underpins increasing returns to unitholders all while maintaining capital discipline and financial flexibility.”

    Plains All American Pipeline

    Summary Financial Information (unaudited)
    (in millions, except per unit data)

        Three Months Ended
    December 31,    		   %     Twelve Months Ended
    December 31,    		   %
    GAAP Results   2024   2023
    		   Change     2024
    		   2023
    		   Change
    Net income attributable to PAA   $ 36     $ 312       (88 )%     $ 772     $ 1,230       (37 )%
    Diluted net income/(loss) per common unit   $ (0.04 )   $ 0.35       (111 )%     $ 0.73     $ 1.40       (48 )%
    Diluted weighted average common units outstanding     704       701       — %       702       699       — %
    Net cash provided by operating activities   $ 726     $ 1,011       (28 )%     $ 2,490     $ 2,727       (9 )%
    Distribution per common unit declared for the period   $ 0.3800     $ 0.3175       20 %     $ 1.3325     $ 1.1200       19 %
                                                       
        Three Months Ended
    December 31,    		   %     Twelve Months Ended
    December 31,    		   %
    Non-GAAP Results (1)   2024   2023
    		   Change     2024
    		   2023
    		   Change
    Adjusted net income attributable to PAA   $ 357     $ 355       1 %     $ 1,318     $ 1,250       5 %
    Diluted adjusted net income per common unit   $ 0.42     $ 0.42       — %     $ 1.51     $ 1.42       6 %
    Adjusted EBITDA   $ 867     $ 875       (1 )%     $ 3,326     $ 3,167       5 %
    Adjusted EBITDA attributable to PAA (2)   $ 729     $ 737       (1 )%     $ 2,779     $ 2,711       3 %
    Implied DCF per common unit and common unit equivalent   $ 0.64     $ 0.68       (6 )%     $ 2.49     $ 2.46       1 %
    Adjusted Free Cash Flow   $ 365     $ 710     **     $ 1,247     $ 1,798       (31 )%
    Adjusted Free Cash Flow after Distributions   $ 79     $ 458     **     $ 102     $ 809       (87 )%
    Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) (3)   $ 134     $ 402       **     $ 1,173     $ 1,604       (27 )%
    Adjusted Free Cash Flow after Distributions (Excluding Changes in Assets & Liabilities) (3)   $ (152 )   $ 150     **     $ 28     $ 615       (95 )%
         
    ** Indicates that variance as a percentage is not meaningful.
    (1) See the section of this release entitled “Non-GAAP Financial Measures and Selected Items Impacting Comparability” and the tables attached hereto for information regarding our Non-GAAP financial measures, including their reconciliation to the most directly comparable measures as reported in accordance with GAAP, and certain selected items that PAA believes impact comparability of financial results between reporting periods.
    (2) Excludes amounts attributable to noncontrolling interests in the Plains Oryx Permian Basin LLC joint venture, Cactus II Pipeline LLC and Red River Pipeline LLC.
    (3) Fourth-quarter and full-year 2024 Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) includes the negative impact of a $225 million charge resulting from the write-off of a receivable for Line 901 insurance proceeds.
         

    Summary of Selected Financial Data by Segment (unaudited)
    (in millions)

      Segment Adjusted EBITDA
      Crude Oil   NGL
    Three Months Ended December 31, 2024 $ 569     $ 154  
    Three Months Ended December 31, 2023 $ 563     $ 169  
    Percentage change in Segment Adjusted EBITDA versus 2023 period 1 %   (9 )%
               
      Segment Adjusted EBITDA
      Crude Oil   NGL
    Twelve Months Ended December 31, 2024 $ 2,276     $ 480  
    Twelve Months Ended December 31, 2023 $ 2,163     $ 522  
    Percentage change in Segment Adjusted EBITDA versus 2023 period 5 %   (8 )%
               

    Fourth-quarter 2024 Crude Oil Segment Adjusted EBITDA increased 1% versus comparable 2023 results primarily due to higher tariff volumes on our pipelines, tariff escalations and contributions from acquisitions. These items were partially offset by fewer market-based opportunities, as well as an increase in estimated costs for long-term environmental remediation obligations.

    Fourth-quarter 2024 NGL Segment Adjusted EBITDA decreased 9% versus comparable 2023 results primarily due to lower weighted average frac spreads in the fourth quarter of 2024.

    Plains GP Holdings

    PAGP owns an indirect non-economic controlling interest in PAA’s general partner and an indirect limited partner interest in PAA. As the control entity of PAA, PAGP consolidates PAA’s results into its financial statements, which is reflected in the condensed consolidating balance sheet and income statement tables attached hereto.

    Conference Call and Webcast Instructions

    PAA and PAGP will hold a joint conference call at 9:00 a.m. CT on Friday, February 7, 2025 to discuss fourth-quarter performance and related items.

    To access the internet webcast, please go to https://edge.media-server.com/mmc/p/xp2zqt6q/.

    Alternatively, the webcast can be accessed on our website at https://ir.plains.com/news-events/events-presentations. Following the live webcast, an audio replay will be available on our website and will be accessible for a period of 365 days. Slides will be posted prior to the call at the above referenced website.

    Non-GAAP Financial Measures and Selected Items Impacting Comparability

    To supplement our financial information presented in accordance with GAAP, management uses additional measures known as “non-GAAP financial measures” in its evaluation of past performance and prospects for the future and to assess the amount of cash that is available for distributions, debt repayments, common equity repurchases and other general partnership purposes. The primary additional measures used by management are Adjusted EBITDA, Adjusted EBITDA attributable to PAA, Implied Distributable Cash Flow (“DCF”), Adjusted Free Cash Flow and Adjusted Free Cash Flow after Distributions.

    Our definition and calculation of certain non-GAAP financial measures may not be comparable to similarly-titled measures of other companies. Adjusted EBITDA, Adjusted EBITDA attributable to PAA, Implied DCF and certain other non-GAAP financial performance measures are reconciled to Net Income, and Adjusted Free Cash Flow, Adjusted Free Cash Flow after Distributions and certain other non-GAAP financial liquidity measures are reconciled to Net Cash Provided by Operating Activities (the most directly comparable measures as reported in accordance with GAAP) for the historical periods presented in the tables attached to this release, and should be viewed in addition to, and not in lieu of, our Consolidated Financial Statements and accompanying notes. In addition, we encourage you to visit our website at www.plains.com (in particular the section under “Financial Information” entitled “Non-GAAP Reconciliations” within the Investor Relations tab), which presents a reconciliation of our commonly used non-GAAP and supplemental financial measures. We do not reconcile non-GAAP financial measures on a forward-looking basis as it is impractical to do so without unreasonable effort.

    Non-GAAP Financial Performance Measures

    Adjusted EBITDA is defined as earnings before (i) interest expense, (ii) income tax (expense)/benefit, (iii) depreciation and amortization (including our proportionate share of depreciation and amortization, including write-downs related to cancelled projects and impairments, of unconsolidated entities), (iv) gains and losses on asset sales, asset impairments and other, net, (v) gains and losses on investments in unconsolidated entities and (vi) interest income on promissory notes by and among PAA and certain Plains entities, and (vii) adjusted for certain selected items impacting comparability. Adjusted EBITDA attributable to PAA excludes the portion of Adjusted EBITDA that is attributable to noncontrolling interests.

    Management believes that the presentation of Adjusted EBITDA, Adjusted EBITDA attributable to PAA and Implied DCF provides useful information to investors regarding our performance and results of operations because these measures, when used to supplement related GAAP financial measures, (i) provide additional information about our core operating performance and ability to fund distributions to our unitholders through cash generated by our operations and (ii) provide investors with the same financial analytical framework upon which management bases financial, operational, compensation and planning/budgeting decisions. We also present these and additional non-GAAP financial measures, including adjusted net income attributable to PAA and basic and diluted adjusted net income per common unit, as they are measures that investors, rating agencies and debt holders have indicated are useful in assessing us and our results of operations. These non-GAAP financial performance measures may exclude, for example, (i) charges for obligations that are expected to be settled with the issuance of equity instruments, (ii) gains and losses on derivative instruments that are related to underlying activities in another period (or the reversal of such adjustments from a prior period), gains and losses on derivatives that are either related to investing activities (such as the purchase of linefill) or purchases of long-term inventory, and inventory valuation adjustments, as applicable, (iii) long-term inventory costing adjustments, (iv) items that are not indicative of our core operating results and/or (v) other items that we believe should be excluded in understanding our core operating performance. These measures may be further adjusted to include amounts related to deficiencies associated with minimum volume commitments whereby we have billed the counterparties for their deficiency obligation and such amounts are recognized as deferred revenue in “Other current liabilities” in our Consolidated Financial Statements. We also adjust for amounts billed by our equity method investees related to deficiencies under minimum volume commitments. Such amounts are presented net of applicable amounts subsequently recognized into revenue. Furthermore, the calculation of these measures contemplates tax effects as a separate reconciling item, where applicable. We have defined all such items as “selected items impacting comparability.” Due to the nature of the selected items, certain selected items impacting comparability may impact certain non-GAAP financial measures, referred to as adjusted results, but not impact other non-GAAP financial measures. We do not necessarily consider all of our selected items impacting comparability to be non-recurring, infrequent or unusual, but we believe that an understanding of these selected items impacting comparability is material to the evaluation of our operating results and prospects.

    Although we present selected items impacting comparability that management considers in evaluating our performance, you should also be aware that the items presented do not represent all items that affect comparability between the periods presented. Variations in our operating results are also caused by changes in volumes, prices, exchange rates, mechanical interruptions, acquisitions, divestitures, investment capital projects and numerous other factors. These types of variations may not be separately identified in this release, but will be discussed, as applicable, in management’s discussion and analysis of operating results in our Annual Report on Form 10-K.

    Non-GAAP Financial Liquidity Measures

    Management uses the non-GAAP financial liquidity measures Adjusted Free Cash Flow and Adjusted Free Cash Flow after Distributions to assess the amount of cash that is available for distributions, debt repayments, common equity repurchases and other general partnership purposes. Adjusted Free Cash Flow is defined as Net Cash Provided by Operating Activities, less Net Cash Provided by/(Used in) Investing Activities, which primarily includes acquisition, investment and maintenance capital expenditures, investments in unconsolidated entities and the impact from the purchase and sale of linefill, net of proceeds from the sales of assets and further impacted by distributions to and contributions from noncontrolling interests and proceeds from the issuance of related party notes. Adjusted Free Cash Flow is further reduced by cash distributions paid to our preferred and common unitholders to arrive at Adjusted Free Cash Flow after Distributions.

    We also present these measures and additional non-GAAP financial liquidity measures as they are measures that investors have indicated are useful. We present the Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) for use in assessing our underlying business liquidity and cash flow generating capacity excluding fluctuations caused by timing of when amounts earned or incurred were collected, received or paid from period to period. Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) is defined as Adjusted Free Cash Flow excluding the impact of “Changes in assets and liabilities, net of acquisitions” on our Condensed Consolidated Statements of Cash Flows. Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) is further reduced by cash distributions paid to our preferred and common unitholders to arrive at Adjusted Free Cash Flow after Distributions (Excluding Changes in Assets & Liabilities).

           
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in millions, except per unit data)
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    REVENUES $ 12,402     $ 12,698     $ 50,073     $ 48,712  
                   
    COSTS AND EXPENSES              
    Purchases and related costs   11,227       11,558       45,560       44,531  
    Field operating costs (1)   578       363       1,768       1,425  
    General and administrative expenses   93       87       381       350  
    Depreciation and amortization   258       273       1,026       1,048  
    (Gains)/losses on asset sales, asset impairments and other, net   159       (9 )     160       (152 )
    Total costs and expenses   12,315       12,272       48,895       47,202  
                   
    OPERATING INCOME   87       426       1,178       1,510  
                   
    OTHER INCOME/(EXPENSE)              
    Equity earnings in unconsolidated entities   154       92       452       369  
    Gain on investments in unconsolidated entities, net   15       —       15       28  
    Interest expense, net (2)   (112 )     (97 )     (430 )     (386 )
    Other income, net (2)   20       17       65       102  
                   
    INCOME BEFORE TAX   164       438       1,280       1,623  
    Current income tax expense (3)   (52 )     (41 )     (195 )     (145 )
    Deferred income tax benefit   7       2       28       24  
                   
    NET INCOME   119       399       1,113       1,502  
    Net income attributable to noncontrolling interests   (83 )     (87 )     (341 )     (272 )
    NET INCOME ATTRIBUTABLE TO PAA $ 36     $ 312     $ 772     $ 1,230  
                   
    NET INCOME/(LOSS) PER COMMON UNIT:              
    Net income/(loss) allocated to common unitholders — Basic and Diluted $ (27 )   $ 248     $ 514     $ 976  
    Basic and diluted weighted average common units outstanding   704       701       702       699  
    Basic and diluted net income/(loss) per common unit $ (0.04 )   $ 0.35     $ 0.73     $ 1.40  
         
    (1) Field operating costs include $225 million and $345 million for the three and twelve months ended December 31, 2024, respectively, resulting from adjustments related to the Line 901 incident that occurred in May 2015, including the write-off of a receivable for Line 901 insurance proceeds in the fourth quarter of 2024 and settlements in the third quarter of 2024.
    (2) PAA and certain Plains entities have issued promissory notes by and among such entities to facilitate financing. “Interest expense, net” and “Other income, net” each include $17 million and $48 million for the three and twelve months ended December 31, 2024, respectively, related to interest on such notes. These amounts offset and do not impact Net Income or Non-GAAP metrics such as Adjusted EBITDA, Implied DCF and Adjusted Free Cash Flow.
    (3) The increase in current income tax expense for the 2024 periods was largely associated with Canadian withholding tax on dividends from our Canadian entities to other Plains entities driven by timing of dividend payments.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    CONDENSED CONSOLIDATED BALANCE SHEET DATA
    (in millions)
           
      December 31,
    2024    		   December 31,
    2023
    ASSETS      
    Current assets (including Cash and cash equivalents of $348 and $450, respectively) $ 4,802     $ 4,913  
    Property and equipment, net   15,424       15,782  
    Investments in unconsolidated entities   2,811       2,820  
    Intangible assets, net   1,677       1,875  
    Linefill   968       976  
    Long-term operating lease right-of-use assets, net   332       313  
    Long-term inventory   280       265  
    Other long-term assets, net   268       411  
    Total assets $ 26,562     $ 27,355  
           
    LIABILITIES AND PARTNERS’ CAPITAL      
    Current liabilities $ 4,950     $ 5,003  
    Senior notes, net   7,141       7,242  
    Other long-term debt, net   72       63  
    Long-term operating lease liabilities   313       274  
    Other long-term liabilities and deferred credits   990       1,041  
    Total liabilities   13,466       13,623  
           
    Partners’ capital excluding noncontrolling interests   9,813       10,422  
    Noncontrolling interests   3,283       3,310  
    Total partners’ capital   13,096       13,732  
    Total liabilities and partners’ capital $ 26,562     $ 27,355  
                   

    DEBT CAPITALIZATION RATIOS
    (in millions)

      December 31,
    2024    		   December 31,
    2023
    Short-term debt $ 408     $ 446  
    Long-term debt   7,213       7,305  
    Total debt $ 7,621     $ 7,751  
           
    Long-term debt $ 7,213     $ 7,305  
    Partners’ capital excluding noncontrolling interests   9,813       10,422  
    Total book capitalization excluding noncontrolling interests (“Total book capitalization”) $ 17,026     $ 17,727  
    Total book capitalization, including short-term debt $ 17,434     $ 18,173  
           
    Long-term debt-to-total book capitalization   42 %     41 %
    Total debt-to-total book capitalization, including short-term debt   44 %     43 %
                   
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    COMPUTATION OF BASIC AND DILUTED NET INCOME/(LOSS) PER COMMON UNIT (1)
    (in millions, except per unit data)
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    Basic and Diluted Net Income/(Loss) per Common Unit              
    Net income attributable to PAA $ 36     $ 312     $ 772     $ 1,230  
    Distributions to Series A preferred unitholders   (44 )     (44 )     (175 )     (173 )
    Distributions to Series B preferred unitholders   (19 )     (20 )     (78 )     (76 )
    Amounts allocated to participating securities   (1 )     (1 )     (10 )     (10 )
    Other   1       1       5       5  
    Net income/(loss) allocated to common unitholders $ (27 )   $ 248     $ 514     $ 976  
                   
    Basic and diluted weighted average common units outstanding (2) (3)   704       701       702       699  
                   
    Basic and diluted net income/(loss) per common unit $ (0.04 )   $ 0.35     $ 0.73     $ 1.40  
         
    (1) We calculate net income/(loss) allocated to common unitholders based on the distributions pertaining to the current period’s net income. After adjusting for the appropriate period’s distributions, the remaining undistributed earnings or excess distributions over earnings, if any, are allocated to common unitholders and participating securities in accordance with the contractual terms of our partnership agreement in effect for the period and as further prescribed under the two-class method.
    (2) The possible conversion of our Series A preferred units was excluded from the calculation of diluted net income/(loss) per common unit for each of the three and twelve months ended December 31, 2024 and 2023 as the effect was antidilutive.
    (3) Our equity-indexed compensation plan awards that contemplate the issuance of common units are considered potentially dilutive unless (i) they become vested only upon the satisfaction of a performance condition and (ii) that performance condition has yet to be satisfied. Equity-indexed compensation plan awards that are deemed to be dilutive are reduced by a hypothetical common unit repurchase based on the remaining unamortized fair value, as prescribed by the treasury stock method in guidance issued by the FASB.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    CONDENSED CONSOLIDATED CASH FLOW DATA
    (in millions)
       
      Twelve Months Ended
    December 31, 2024
      2024   2023
    CASH FLOWS FROM OPERATING ACTIVITIES      
    Net income $ 1,113     $ 1,502  
    Reconciliation of net income to net cash provided by operating activities:      
    Depreciation and amortization   1,026       1,048  
    (Gains)/losses on asset sales, asset impairments and other, net   160       (152 )
    Deferred income tax benefit   (28 )     (24 )
    Change in fair value of Preferred Distribution Rate Reset Option   —       (58 )
    Equity earnings in unconsolidated entities   (452 )     (369 )
    Distributions on earnings from unconsolidated entities   505       458  
    Gain on investments in unconsolidated entities, net   (15 )     (28 )
    Other   107       156  
    Changes in assets and liabilities, net of acquisitions   74       194  
    Net cash provided by operating activities   2,490       2,727  
           
    CASH FLOWS FROM INVESTING ACTIVITIES      
    Net cash used in investing activities (1)   (1,504 )     (702 )
           
    CASH FLOWS FROM FINANCING ACTIVITIES      
    Net cash used in financing activities (1)   (1,077 )     (1,976 )
           
    Effect of translation adjustment   (11 )     —  
           
    Net increase/(decrease) in cash and cash equivalents and restricted cash   (102 )     49  
           
    Cash and cash equivalents and restricted cash, beginning of period   450       401  
    Cash and cash equivalents and restricted cash, end of period $ 348     $ 450  
         
    (1)  PAA and certain Plains entities have issued promissory notes by and among such entities to facilitate financing. For the twelve months ended December 31, 2024, “Net cash used in investing activities” includes a cash outflow of $629 million associated with our investment in related party notes. An equal and offsetting cash inflow associated with our issuance of related party notes is included in “Net cash used in financing activities.”
         

    CAPITAL EXPENDITURES
    (in millions)

      Net to PAA (1)   Consolidated
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,    		   Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024
    		   2023
    		   2024
    		   2023
    		   2024
    		   2023
    		   2024
    		   2023
    Investment capital expenditures:                              
    Crude Oil $ 55     $ 75     $ 214     $ 245     $ 80     $ 100     $ 300     $ 334  
    NGL   41       14       115       65       41       14       115       65  
    Total Investment capital expenditures   96       89       329       310       121       114       415       399  
    Maintenance capital expenditures   68       58       242       214       73       63       261       231  
      $ 164     $ 147     $ 571     $ 524     $ 194     $ 177     $ 676     $ 630  
         
    (1)  Excludes expenditures attributable to noncontrolling interests.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    NON-GAAP RECONCILIATIONS
    (in millions, except per unit and ratio data)
           
    Computation of Basic and Diluted Adjusted Net Income Per Common Unit (1):
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    Basic and Diluted Adjusted Net Income per Common Unit              
    Net income attributable to PAA $ 36     $ 312     $ 772     $ 1,230  
    Selected items impacting comparability – Adjusted net income attributable to PAA (2)   321       43       546       20  
    Adjusted net income attributable to PAA $ 357     $ 355     $ 1,318     $ 1,250  
    Distributions to Series A preferred unitholders   (44 )     (44 )     (175 )     (173 )
    Distributions to Series B preferred unitholders   (19 )     (20 )     (78 )     (76 )
    Amounts allocated to participating securities   (1 )     (1 )     (11 )     (10 )
    Other   1       1       5       5  
    Adjusted net income allocated to common unitholders $ 294     $ 291     $ 1,059     $ 996  
                   
    Basic and diluted weighted average common units outstanding (3) (4)   704       701       702       699  
                   
    Basic and diluted adjusted net income per common unit $ 0.42     $ 0.42     $ 1.51     $ 1.42  
         
    (1) We calculate adjusted net income allocated to common unitholders based on the distributions pertaining to the current period’s net income. After adjusting for the appropriate period’s distributions, the remaining undistributed earnings or excess distributions over earnings, if any, are allocated to the common unitholders and participating securities in accordance with the contractual terms of our partnership agreement in effect for the period and as further prescribed under the two-class method.
    (2) See the “Selected Items Impacting Comparability” table for additional information.
    (3) The possible conversion of our Series A preferred units was excluded from the calculation of diluted adjusted net income per common unit for each of the three and twelve months ended December 31, 2024 and 2023 as the effect was antidilutive.
    (4) Our equity-indexed compensation plan awards that contemplate the issuance of common units are considered potentially dilutive unless (i) they become vested only upon the satisfaction of a performance condition and (ii) that performance condition has yet to be satisfied. Equity-indexed compensation plan awards that are deemed to be dilutive are reduced by a hypothetical common unit repurchase based on the remaining unamortized fair value, as prescribed by the treasury stock method in guidance issued by the FASB.
         

    Net Income/(Loss) Per Common Unit to Adjusted Net Income Per Common Unit Reconciliation:

      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023
    		   2024
    		   2023
    Basic and diluted net income/(loss) per common unit $ (0.04 )   $ 0.35     $ 0.73     $ 1.40  
    Selected items impacting comparability per common unit (1)   0.46       0.07       0.78       0.02  
    Basic and diluted adjusted net income per common unit $ 0.42     $ 0.42     $ 1.51     $ 1.42  
         
    (1)  See the “Selected Items Impacting Comparability” and the “Computation of Basic and Diluted Adjusted Net Income/(Loss) Per Common Unit” tables for additional information.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    Net Income to Adjusted EBITDA attributable to PAA and Implied DCF Reconciliation:
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    Net Income $ 119     $ 399     $ 1,113     $ 1,502  
    Interest expense, net of certain items (1)   95       97       382       386  
    Income tax expense   45       39       167       121  
    Depreciation and amortization   258       273       1,026       1,048  
    (Gains)/losses on asset sales, asset impairments and other, net   159       (9 )     160       (152 )
    Gain on investments in unconsolidated entities, net   (15 )     —       (15 )     (28 )
    Depreciation and amortization of unconsolidated entities (2)   26       20       84       87  
    Selected items impacting comparability – Adjusted EBITDA (3)   180       56       409       203  
    Adjusted EBITDA $ 867     $ 875     $ 3,326     $ 3,167  
    Adjusted EBITDA attributable to noncontrolling interests   (138 )     (138 )     (547 )     (456 )
    Adjusted EBITDA attributable to PAA $ 729     $ 737     $ 2,779     $ 2,711  
                   
    Adjusted EBITDA $ 867     $ 875     $ 3,326     $ 3,167  
    Interest expense, net of certain non-cash items (4)   (92 )     (92 )     (365 )     (367 )
    Maintenance capital   (73 )     (63 )     (261 )     (231 )
    Investment capital of noncontrolling interests (5)   (24 )     (24 )     (86 )     (87 )
    Current income tax expense   (52 )     (41 )     (195 )     (145 )
    Distributions from unconsolidated entities in excess of/(less than) adjusted equity earnings (6)   —       (15 )     11       (37 )
    Distributions to noncontrolling interests (7)   (114 )     (97 )     (425 )     (333 )
    Implied DCF $ 512     $ 543     $ 2,005     $ 1,967  
    Preferred unit cash distributions paid (7)   (63 )     (64 )     (254 )     (241 )
    Implied DCF Available to Common Unitholders $ 449     $ 479     $ 1,751     $ 1,726  
                   
    Weighted Average Common Units Outstanding   704       701       702       699  
    Weighted Average Common Units and Common Unit Equivalents   775       772       773       770  
                   
    Implied DCF per Common Unit (8) $ 0.64     $ 0.68     $ 2.49     $ 2.47  
    Implied DCF per Common Unit and Common Unit Equivalent (9) $ 0.64     $ 0.68     $ 2.49     $ 2.46  
                   
    Cash Distribution Paid per Common Unit $ 0.3175     $ 0.2675     $ 1.2700     $ 1.0700  
    Common Unit Cash Distributions (7) $ 223     $ 188     $ 891     $ 748  
    Common Unit Distribution Coverage Ratio 2.01x   2.55x   1.97x   2.31x
                   
    Implied DCF Excess $ 226     $ 291     $ 860     $ 978  
         
    (1)  Represents “Interest expense, net” as reported on our Condensed Consolidated Statements of Operations, net of interest income associated with promissory notes by and among PAA and certain Plains entities.
    (2) Adjustment to exclude our proportionate share of depreciation and amortization expense (including write-downs related to cancelled projects and impairments) of unconsolidated entities.
    (3) See the “Selected Items Impacting Comparability” table for additional information.
    (4) Amount excludes certain non-cash items impacting interest expense such as amortization of debt issuance costs and terminated interest rate swaps.
    (5) Investment capital expenditures attributable to noncontrolling interests that reduce Implied DCF available to PAA common unitholders.
    (6)  Comprised of cash distributions received from unconsolidated entities less equity earnings in unconsolidated entities (adjusted for our proportionate share of depreciation and amortization, including write-downs related to cancelled projects and impairments, and selected items impacting comparability of unconsolidated entities).
    (7) Cash distributions paid during the period presented.
    (8) Implied DCF Available to Common Unitholders for the period divided by the weighted average common units outstanding for the period.
    (9) Implied DCF Available to Common Unitholders for the period, adjusted for Series A preferred unit cash distributions paid, divided by the weighted average common units and common unit equivalents outstanding for the period. Our Series A preferred units are convertible into common units, generally on a one-for-one basis and subject to customary anti-dilution adjustments, in whole or in part, subject to certain minimum conversion amounts.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    Net Income Per Common Unit to Implied DCF Per Common Unit and Common Unit Equivalent Reconciliation:
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023
    		   2024
    		   2023
    Basic net income/(loss) per common unit $ (0.04 )   $ 0.35     $ 0.73     $ 1.40  
    Reconciling items per common unit (1) (2)   0.68       0.33       1.76       1.07  
    Implied DCF per common unit $ 0.64     $ 0.68     $ 2.49     $ 2.47  
                   
    Basic net income/(loss) per common unit $ (0.04 )   $ 0.35     $ 0.73     $ 1.40  
    Reconciling items per common unit and common unit equivalent (1) (3)   0.68       0.33       1.76       1.06  
    Implied DCF per common unit and common unit equivalent $ 0.64     $ 0.68     $ 2.49     $ 2.46  
         
    (1) Represents adjustments to Net Income to calculate Implied DCF Available to Common Unitholders. See the “Net Income to Adjusted EBITDA attributable to PAA and Implied DCF Reconciliation” table for additional information.
    (2) Based on weighted average common units outstanding for the period of 704 million, 701 million, 702 million and 699 million, respectively.
    (3) Based on weighted average common units outstanding for the period, as well as weighted average Series A preferred units outstanding of 71 million for each of the periods presented.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    Net Cash Provided by Operating Activities to Non-GAAP Financial Liquidity Measures Reconciliation:
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    Net cash provided by operating activities $ 726     $ 1,011     $ 2,490     $ 2,727  
    Adjustments to reconcile Net cash provided by operating activities to Adjusted Free Cash Flow:              
    Net cash used in investing activities (1)   (264 )     (257 )     (1,504 )     (702 )
    Cash contributions from noncontrolling interests   17       53       57       106  
    Cash distributions paid to noncontrolling interests (2)   (114 )     (97 )     (425 )     (333 )
    Proceeds from the issuance of related party notes (1)   —       —       629       —  
    Adjusted Free Cash Flow (3) $ 365     $ 710     $ 1,247     $ 1,798  
    Cash distributions (4)   (286 )     (252 )     (1,145 )     (989 )
    Adjusted Free Cash Flow after Distributions (3)(5) $ 79     $ 458     $ 102     $ 809  
                   
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    Adjusted Free Cash Flow (3) $ 365     $ 710     $ 1,247     $ 1,798  
    Changes in assets and liabilities, net of acquisitions (6)   (231 )     (308 )     (74 )     (194 )
    Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) (7)(8) $ 134     $ 402     $ 1,173     $ 1,604  
    Cash distributions (4)   (286 )     (252 )     (1,145 )     (989 )
    Adjusted Free Cash Flow after Distributions (Excluding Changes in Assets & Liabilities) (7)(8) $ (152 )   $ 150     $ 28     $ 615  
         
    (1)  PAA and certain Plains entities have issued promissory notes by and among such entities to facilitate financing. “Proceeds from the issuance of related party notes” has an equal and offsetting cash outflow associated with our investment in related party notes, which is included as a component of “Net cash used in investing activities.”
    (2)  Cash distributions paid during the period presented.
    (3)  Management uses the non-GAAP financial liquidity measures Adjusted Free Cash Flow and Adjusted Free Cash Flow after Distributions to assess the amount of cash that is available for distributions, debt repayments, common equity repurchases and other general partnership purposes. Adjusted Free Cash Flow after Distributions shortages, if any, may be funded from previously established reserves, cash on hand or from borrowings under our credit facilities or commercial paper program.
    (4)  Cash distributions paid to preferred and common unitholders during the period.
    (5)  Excess Adjusted Free Cash Flow after Distributions is retained to establish reserves for future distributions, capital expenditures, debt reduction and other partnership purposes. Adjusted Free Cash Flow after Distributions shortages may be funded from previously established reserves, cash on hand or from borrowings under our credit facilities or commercial paper program.
    (6)  See the “Condensed Consolidated Cash Flow Data” table.
    (7)   Management uses the non-GAAP financial liquidity measures Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) and Adjusted Free Cash Flow after Distributions (Excluding Changes in Assets & Liabilities) to assess the underlying business liquidity and cash flow generating capacity excluding fluctuations caused by timing of when amounts earned or incurred were collected, received or paid from period to period.
    (8)  Fourth-quarter and full-year 2024 Adjusted Free Cash Flow (Excluding Changes in Assets & Liabilities) includes the negative impact of a $225 million charge resulting from the write-off of a receivable for Line 901 insurance proceeds.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    SELECTED ITEMS IMPACTING COMPARABILITY
    (in millions)
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023   2024   2023
    Selected Items Impacting Comparability: (1)              
    Derivative activities and inventory valuation adjustments (2) $ (6 )   $ 43     $ (85 )   $ (101 )
    Long-term inventory costing adjustments (3)   17       (62 )     9       (35 )
    Deficiencies under minimum volume commitments, net (4)   41       (8 )     31       (12 )
    Equity-indexed compensation expense (5)   (8 )     (8 )     (36 )     (36 )
    Foreign currency revaluation (6)   1       (11 )     17       (8 )
    Line 901 incident (7)   (225 )     (10 )     (345 )     (10 )
    Transaction-related expenses (8)   —       —       —       (1 )
    Selected items impacting comparability – Adjusted EBITDA $ (180 )   $ (56 )   $ (409 )   $ (203 )
    Gain on investments in unconsolidated entities, net   15       —       15       28  
    Gains/(losses) on asset sales, asset impairments and other, net (9)   (159 )     9       (160 )     152  
    Tax effect on selected items impacting comparability   3       4       13       13  
    Aggregate selected items impacting noncontrolling interests   —       —       (5 )     (10 )
    Selected items impacting comparability – Adjusted net income attributable to PAA $ (321 )   $ (43 )   $ (546 )   $ (20 )
         
    (1)  Certain of our non-GAAP financial measures may not be impacted by each of the selected items impacting comparability. See the “Net Income to Adjusted EBITDA attributable to PAA and Implied DCF Reconciliation” and “Computation of Basic and Diluted Adjusted Net Income Per Common Unit” table for additional details on how these selected items impacting comparability affect such measures.
    (2) We use derivative instruments for risk management purposes and our related processes include specific identification of hedging instruments to an underlying hedged transaction. Although we identify an underlying transaction for each derivative instrument we enter into, there may not be an accounting hedge relationship between the instrument and the underlying transaction. In the course of evaluating our results, we identify differences in the timing of earnings from the derivative instruments and the underlying transactions and exclude the related gains and losses in determining adjusted results such that the earnings from the derivative instruments and the underlying transactions impact adjusted results in the same period. In addition, we exclude gains and losses on derivatives that are related to (i) investing activities, such as the purchase of linefill, and (ii) purchases of long-term inventory. We also exclude the impact of corresponding inventory valuation adjustments, as applicable. For applicable periods, we excluded gains and losses from the mark-to-market of the embedded derivative associated with the Preferred Distribution Rate Reset Option of our Series A preferred units.
    (3) We carry crude oil and NGL inventory that is comprised of minimum working inventory requirements in third-party assets and other working inventory that is needed for our commercial operations. We consider this inventory necessary to conduct our operations and we intend to carry this inventory for the foreseeable future. Therefore, we classify this inventory as long-term on our balance sheet and do not hedge the inventory with derivative instruments (similar to linefill in our own assets). We treat the impact of changes in the average cost of the long-term inventory (that result from fluctuations in market prices) and write-downs of such inventory that result from price declines as a selected item impacting comparability.
    (4) We, and certain of our equity method investees, have certain agreements that require counterparties to deliver, transport or throughput a minimum volume over an agreed upon period. Substantially all of such agreements were entered into with counterparties to economically support the return on capital expenditure necessary to construct the related asset. Some of these agreements include make-up rights if the minimum volume is not met. We record a receivable from the counterparty in the period that services are provided or when the transaction occurs, including amounts for deficiency obligations from counterparties associated with minimum volume commitments. If a counterparty has a make-up right associated with a deficiency, we defer the revenue attributable to the counterparty’s make-up right and subsequently recognize the revenue at the earlier of when the deficiency volume is delivered or shipped, when the make-up right expires or when it is determined that the counterparty’s ability to utilize the make-up right is remote. We include the impact of amounts billed to counterparties for their deficiency obligation, net of applicable amounts subsequently recognized into revenue or equity earnings, as a selected item impacting comparability. We believe the inclusion of the contractually committed revenues associated with that period is meaningful to investors as the related asset has been constructed, is standing ready to provide the committed service and the fixed operating costs are included in the current period results.
    (5) Our total equity-indexed compensation expense includes expense associated with awards that will be settled in units and awards that will be settled in cash. The awards that will be settled in units are included in our diluted net income per unit calculation when the applicable performance criteria have been met. We consider the compensation expense associated with these awards as a selected item impacting comparability as the dilutive impact of the outstanding awards is included in our diluted net income per unit calculation, as applicable. The portion of compensation expense associated with awards that will be settled in cash is not considered a selected item impacting comparability.
    (6) During the periods presented, there were fluctuations in the value of the Canadian dollar to the U.S. dollar, resulting in the realization of foreign exchange gains and losses on the settlement of foreign currency transactions as well as the revaluation of monetary assets and liabilities denominated in a foreign currency. The associated gains and losses are not integral to our results and were thus classified as a selected item impacting comparability.
    (7) Includes costs recognized during the period related to the Line 901 incident that occurred in May 2015. For the 2024 periods, includes the write-off of a receivable for Line 901 insurance proceeds in the fourth quarter of 2024 and the impact of settlements in the third quarter of 2024.
    (8) Includes expenses associated with the Rattler Permian Transaction.
    (9) For the 2024 periods, primarily includes non-cash charges related to the write-down of two U.S. NGL terminals. For the twelve months ended December 31, 2023 primarily includes gains related to the sale of our Keyera Fort Saskatchewan facility.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    SELECTED FINANCIAL DATA BY SEGMENT
    (in millions)
             
      Three Months Ended
    December 31, 2024    		     Three Months Ended
    December 31, 2023
      Crude Oil   NGL     Crude Oil   NGL
    Revenues (1) $ 11,959     $ 535       $ 12,187     $ 623  
    Purchases and related costs (1)   (11,019 )     (300 )       (11,306 )     (364 )
    Field operating costs (2)(3)   (503 )     (75 )       (274 )     (89 )
    Segment general and administrative expenses (2) (4)   (74 )     (19 )       (68 )     (19 )
    Equity earnings in unconsolidated entities   154       —         92       —  
                     
    Other segment items: (5)                
    Depreciation and amortization of unconsolidated entities   26       —         20       —  
    Derivative activities and inventory valuation adjustments   (16 )     22         (52 )     9  
    Long-term inventory costing adjustments   (9 )     (8 )       58       4  
    Deficiencies under minimum volume commitments, net   (41 )     —         8       —  
    Equity-indexed compensation expense   8       —         8       —  
    Foreign currency revaluation   (4 )     (1 )       18       5  
    Line 901 incident   225       —         10       —  
    Segment amounts attributable to noncontrolling interests (6)   (137 )     —         (138 )     —  
    Segment Adjusted EBITDA $ 569     $ 154       $ 563     $ 169  
                     
    Maintenance capital expenditures $ 48     $ 25       $ 39     $ 24  
         
    (1) Includes intersegment amounts.
    (2) Field operating costs and Segment general and administrative expenses include equity-indexed compensation expense.
    (3) Field operating costs for the three months ended December 31, 2024 include higher expenses related to (i) $225 million resulting from the write-off of a receivable for Line 901 insurance proceeds and (ii) an increase in estimated costs for long-term environmental remediation obligations.
    (4) Segment general and administrative expenses reflect direct costs attributable to each segment and an allocation of other expenses to the segments. The proportional allocations by segment require judgment by management and are based on the business activities that exist during each period.
    (5) Represents adjustments utilized by our CODM in the evaluation of segment results. Many of these adjustments are also considered selected items impacting comparability when calculating consolidated non-GAAP financial measures such as Adjusted EBITDA. See the “Selected Items Impacting Comparability” table for additional discussion.
    (6) Reflects amounts attributable to noncontrolling interests in the Permian JV, Cactus II Pipeline LLC and Red River Pipeline LLC.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    SELECTED FINANCIAL DATA BY SEGMENT
    (in millions)
             
      Twelve Months Ended
    December 31, 2024    		     Twelve Months Ended
    December 31, 2023
      Crude Oil   NGL     Crude Oil   NGL
    Revenues (1) $ 48,720     $ 1,724       $ 47,174     $ 1,935  
    Purchases and related costs (1)   (45,033 )     (898 )       (43,805 )     (1,123 )
    Field operating costs (2)(3)   (1,440 )     (328 )       (1,053 )     (372 )
    Segment general and administrative expenses (2) (4)   (298 )     (83 )       (271 )     (79 )
    Equity earnings in unconsolidated entities   452       —         369       —  
                     
    Other segment items: (5)                
    Depreciation and amortization of unconsolidated entities   84       —         87       —  
    Derivative activities and inventory valuation adjustments   5       80         17       142  
    Long-term inventory costing adjustments   1       (10 )       22       13  
    Deficiencies under minimum volume commitments, net   (31 )     —         12       —  
    Equity-indexed compensation expense   36       —         35       1  
    Foreign currency revaluation   (22 )     (5 )       19       5  
    Line 901 incident   345       —         10       —  
    Transaction-related expenses   —       —         1       —  
    Segment amounts attributable to noncontrolling interests (6)   (543 )     —         (454 )     —  
    Segment Adjusted EBITDA $ 2,276     $ 480       $ 2,163     $ 522  
                     
    Maintenance capital expenditures $ 183     $ 78       $ 145     $ 86  
         
    (1) Includes intersegment amounts.
    (2) Field operating costs and Segment general and administrative expenses include equity-indexed compensation expense.
    (3) Field operating costs for the twelve months ended December 31, 2024 include higher expenses related to (i) $225 million resulting from the write-off of a receivable for Line 901 insurance proceeds, (ii) $120 million associated with settlements related to the Line 901 incident that occurred in May 2015 and (iii) an increase in estimated costs for long-term environmental remediation obligations.
    (4) Segment general and administrative expenses reflect direct costs attributable to each segment and an allocation of other expenses to the segments. The proportional allocations by segment require judgment by management and are based on the business activities that exist during each period.
    (5) Represents adjustments utilized by our CODM in the evaluation of segment results. Many of these adjustments are also considered selected items impacting comparability when calculating consolidated non-GAAP financial measures such as Adjusted EBITDA. See the “Selected Items Impacting Comparability” table for additional discussion.
    (6) Reflects amounts attributable to noncontrolling interests in the Permian JV, Cactus II Pipeline LLC and Red River Pipeline LLC.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    OPERATING DATA BY SEGMENT
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024
    		   2023
    		   2024
    		   2023
    Crude Oil Segment Volumes                              
    Crude oil pipeline tariff (by region) (1)                              
    Permian Basin (2)   6,846       6,710       6,731       6,356  
    South Texas / Eagle Ford (2)   421       411       403       410  
    Mid-Continent (2)   478       503       506       507  
    Gulf Coast (2)   214       250       218       260  
    Rocky Mountain (2)   461       452       474       372  
    Western   259       237       256       214  
    Canada   349       340       346       341  
    Total crude oil pipeline tariff (1) (2)   9,028       8,903       8,934       8,460  
                                   
    Commercial crude oil storage capacity (2) (3)   72       72       72       72  
                                   
    Crude oil lease gathering purchases (1)   1,661       1,518       1,586       1,452  
                                   
    NGL Segment Volumes (1)                              
    NGL fractionation   138       127       132       115  
    NGL pipeline tariff   224       188       213       180  
    Propane and butane sales   127       125       92       86  
         
    (1) Average volumes in thousands of barrels per day calculated as the total volumes (attributable to our interest for assets owned by unconsolidated entities or through undivided joint interests) for the period divided by the number of days in the period. Volumes associated with assets acquired during the period represent total volumes for the number of days we actually owned the assets divided by the number of days in the period.
    (2) Includes volumes (attributable to our interest) from assets owned by unconsolidated entities.
    (3) Average monthly capacity in millions of barrels calculated as total volumes for the period divided by the number of months in the period.
         
    PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    NON-GAAP SEGMENT RECONCILIATIONS
    (in millions)
           
    Supplemental Adjusted EBITDA attributable to PAA Reconciliation:      
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024
    		   2023
    		   2024
    		   2023
    Crude Oil Segment Adjusted EBITDA $ 569     $ 563     $ 2,276     $ 2,163  
    NGL Segment Adjusted EBITDA   154       169       480       522  
    Adjusted other income, net (1)   6       5       23       26  
    Adjusted EBITDA attributable to PAA (2) $ 729     $ 737     $ 2,779     $ 2,711  
         
    (1)  Represents “Other income, net” as reported on our Condensed Consolidated Statements of Operations, excluding interest income on promissory notes by and among PAA and certain Plains entities, as well as other income, net attributable to noncontrolling interests, adjusted for selected items impacting comparability. See the “Selected Items Impacting Comparability” table for additional information.
    (2) See the “Net Income to Adjusted EBITDA attributable to PAA and Implied DCF Reconciliation” table for reconciliation to Net Income.
         
    PLAINS GP HOLDINGS AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
    (in millions, except per share data)
             
      Three Months Ended
    December 31, 2024    		     Three Months Ended
    December 31, 2023
          Consolidating             Consolidating    
      PAA   Adjustments (1)   PAGP     PAA   Adjustments (1)   PAGP
    REVENUES $ 12,402     $ —     $ 12,402       $ 12,698     $ —     $ 12,698  
                             
    COSTS AND EXPENSES                        
    Purchases and related costs   11,227       —       11,227         11,558       —       11,558  
    Field operating costs   578       —       578         363       —       363  
    General and administrative expenses   93       1       94         87       1       88  
    Depreciation and amortization   258       —       258         273       —       273  
    (Gains)/losses on asset sales, asset impairments and other, net   159       —       159         (9 )     —       (9 )
    Total costs and expenses   12,315       1       12,316         12,272       1       12,273  
                             
    OPERATING INCOME   87       (1 )     86         426       (1 )     425  
                             
    OTHER INCOME/(EXPENSE)                        
    Equity earnings in unconsolidated entities   154       —       154         92       —       92  
    Gain on investments in unconsolidated entities, net   15       —       15         —       —       —  
    Interest expense, net   (112 )     17       (95 )       (97 )     —       (97 )
    Other income, net   20       (17 )     3         17       —       17  
                             
    INCOME BEFORE TAX   164       (1 )     163         438       (1 )     437  
    Current income tax expense   (52 )     —       (52 )       (41 )     —       (41 )
    Deferred income tax (expense)/benefit   7       (2 )     5         2       (16 )     (14 )
                             
    NET INCOME   119       (3 )     116         399       (17 )     382  
    Net income attributable to noncontrolling interests   (83 )     (44 )     (127 )       (87 )     (243 )     (330 )
    NET INCOME/(LOSS) ATTRIBUTABLE TO PAGP $ 36     $ (47 )   $ (11 )     $ 312     $ (260 )   $ 52  
                             
    Basic and diluted weighted average Class A shares outstanding     197                 196  
                             
    Basic and diluted net income/(loss) per Class A share   $ (0.05 )             $ 0.27  
         
    (1)  Represents the aggregate consolidating adjustments necessary to produce consolidated financial statements for PAGP.
         
    PLAINS GP HOLDINGS AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
    (in millions, except per share data)
             
      Twelve Months Ended
    December 31, 2024    		     Twelve Months Ended
    December 31, 2023
          Consolidating             Consolidating    
      PAA   Adjustments (1)   PAGP     PAA   Adjustments (1)   PAGP
    REVENUES $ 50,073     $ —     $ 50,073       $ 48,712     $ —     $ 48,712  
                             
    COSTS AND EXPENSES                        
    Purchases and related costs   45,560       —       45,560         44,531       —       44,531  
    Field operating costs   1,768       —       1,768         1,425       —       1,425  
    General and administrative expenses   381       6       387         350       6       356  
    Depreciation and amortization   1,026       —       1,026         1,048       3       1,051  
    (Gains)/losses on asset sales, asset impairments and other, net   160       —       160         (152 )     —       (152 )
    Total costs and expenses   48,895       6       48,901         47,202       9       47,211  
                             
    OPERATING INCOME   1,178       (6 )     1,172         1,510       (9 )     1,501  
                             
    OTHER INCOME/(EXPENSE)                        
    Equity earnings in unconsolidated entities   452       —       452         369       —       369  
    Gain on investments in unconsolidated entities, net   15       —       15         28       —       28  
    Interest expense, net   (430 )     48       (382 )       (386 )     —       (386 )
    Other income, net   65       (48 )     17         102       —       102  
                             
    INCOME BEFORE TAX   1,280       (6 )     1,274         1,623       (9 )     1,614  
    Current income tax expense   (195 )     —       (195 )       (145 )     —       (145 )
    Deferred income tax (expense)/benefit   28       (37 )     (9 )       24       (68 )     (44 )
                             
    NET INCOME   1,113       (43 )     1,070         1,502       (77 )     1,425  
    Net income attributable to noncontrolling interests   (341 )     (626 )     (967 )       (272 )     (955 )     (1,227 )
    NET INCOME ATTRIBUTABLE TO PAGP $ 772     $ (669 )   $ 103       $ 1,230     $ (1,032 )   $ 198  
                             
    Basic and diluted weighted average Class A shares outstanding     197                 195  
                             
    Basic and diluted net income per Class A share   $ 0.52               $ 1.01  
         
    (1)  Represents the aggregate consolidating adjustments necessary to produce consolidated financial statements for PAGP.
         
    PLAINS GP HOLDINGS AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    CONDENSED CONSOLIDATING BALANCE SHEET DATA
    (in millions)
             
      December 31, 2024     December 31, 2023
          Consolidating             Consolidating    
      PAA   Adjustments (1)   PAGP     PAA   Adjustments (1)   PAGP
    ASSETS                        
    Current assets $ 4,802     $ (26 )   $ 4,776       $ 4,913     $ 3     $ 4,916  
    Property and equipment, net   15,424       —       15,424         15,782       —       15,782  
    Investments in unconsolidated entities   2,811       —       2,811         2,820       —       2,820  
    Intangible assets, net   1,677       —       1,677         1,875       —       1,875  
    Deferred tax asset   —       1,220       1,220         —       1,239       1,239  
    Linefill   968       —       968         976       —       976  
    Long-term operating lease right-of-use assets, net   332       —       332         313       —       313  
    Long-term inventory   280       —       280         265       —       265  
    Other long-term assets, net   268       —       268         411       —       411  
    Total assets $ 26,562     $ 1,194     $ 27,756       $ 27,355     $ 1,242     $ 28,597  
                             
    LIABILITIES AND PARTNERS’ CAPITAL                        
    Current liabilities $ 4,950     $ (26 )   $ 4,924       $ 5,003     $ 2     $ 5,005  
    Senior notes, net   7,141       —       7,141         7,242       —       7,242  
    Other long-term debt, net   72       —       72         63       —       63  
    Long-term operating lease liabilities   313       —       313         274       —       274  
    Other long-term liabilities and deferred credits   990       —       990         1,041       —       1,041  
    Total liabilities   13,466       (26 )     13,440         13,623       2       13,625  
                             
    Partners’ capital excluding noncontrolling interests   9,813       (8,462 )     1,351         10,422       (8,874 )     1,548  
    Noncontrolling interests   3,283       9,682       12,965         3,310       10,114       13,424  
    Total partners’ capital   13,096       1,220       14,316         13,732       1,240       14,972  
    Total liabilities and partners’ capital $ 26,562     $ 1,194     $ 27,756       $ 27,355     $ 1,242     $ 28,597  
         
    (1)  Represents the aggregate consolidating adjustments necessary to produce consolidated financial statements for PAGP.
         
    PLAINS GP HOLDINGS AND SUBSIDIARIES
    FINANCIAL SUMMARY (unaudited)
    COMPUTATION OF BASIC AND DILUTED NET INCOME/(LOSS) PER CLASS A SHARE
    (in millions, except per share data)
           
      Three Months Ended
    December 31,    		   Twelve Months Ended
    December 31,
      2024   2023
    		   2024
    		   2023
    Basic and Diluted Net Income/(Loss) per Class A Share              
    Net income/(loss) attributable to PAGP $ (11 )   $ 52     $ 103     $ 198  
    Basic and diluted weighted average Class A shares outstanding   197       196       197       195  
                   
    Basic and diluted net income/(loss) per Class A share $ (0.05 )   $ 0.27     $ 0.52     $ 1.01  
                                   

    Forward-Looking Statements

    Except for the historical information contained herein, the matters discussed in this release consist of forward-looking statements that involve certain risks and uncertainties that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. These risks and uncertainties include, among other things, the following:

    • general economic, market or business conditions in the United States and elsewhere (including the potential for a recession or significant slowdown in economic activity levels, the risk of persistently high inflation and supply chain issues, the impact of global public health events, such as pandemics, on demand and growth, and the timing, pace and extent of economic recovery) that impact (i) demand for crude oil, drilling and production activities and therefore the demand for the midstream services we provide and (ii) commercial opportunities available to us;
    • declines in global crude oil demand and/or crude oil prices or other factors that correspondingly lead to a significant reduction of North American crude oil and NGL production (whether due to reduced producer cash flow to fund drilling activities or the inability of producers to access capital, or both, the unavailability of pipeline and/or storage capacity, the shutting-in of production by producers, government-mandated pro-ration orders, or other factors), which in turn could result in significant declines in the actual or expected volume of crude oil and NGL shipped, processed, purchased, stored, fractionated and/or gathered at or through the use of our assets and/or the reduction of the margins we can earn or the commercial opportunities that might otherwise be available to us;
    • fluctuations in refinery capacity and other factors affecting demand for various grades of crude oil and NGL and resulting changes in pricing conditions or transportation throughput requirements;
    • unanticipated changes in crude oil and NGL market structure, grade differentials and volatility (or lack thereof);
    • the effects of competition and capacity overbuild in areas where we operate, including downward pressure on rates, volumes and margins, contract renewal risk and the risk of loss of business to other midstream operators who are willing or under pressure to aggressively reduce transportation rates in order to capture or preserve customers;
    • the successful operation of joint ventures and joint operating arrangements we enter into from time to time, whether relating to assets operated by us or by third parties, and the successful integration and future performance of acquired assets or businesses;
    • the availability of, and our ability to consummate, acquisitions, divestitures, joint ventures or other strategic opportunities and realize benefits therefrom;
    • environmental liabilities, litigation or other events that are not covered by an indemnity, insurance or existing reserves;
    • negative societal sentiment regarding the hydrocarbon energy industry and the continued development and consumption of hydrocarbons, which could influence consumer preferences and governmental or regulatory actions that adversely impact our business;
    • the occurrence of a natural disaster, catastrophe, terrorist attack (including eco-terrorist attacks) or other event that materially impacts our operations, including cyber or other attacks on our or our service providers’ electronic and computer systems;
    • weather interference with business operations or project construction, including the impact of extreme weather events or conditions (including wildfires and drought);
    • the impact of current and future laws, rulings, legislation, governmental regulations, executive orders, trade policies, tariffs, accounting standards and statements, and related interpretations that (i) prohibit, restrict or regulate the development of oil and gas resources and the related infrastructure on lands dedicated to or served by our pipelines, (ii) negatively impact our ability to develop, operate or repair midstream assets, or (iii) otherwise negatively impact our business or increase our exposure to risk;
    • negative impacts on production levels in the Permian Basin or elsewhere due to issues associated with (or laws, rules or regulations relating to) hydraulic fracturing and related activities (including wastewater injection or disposal), including earthquakes, subsidence, expansion or other issues;
    • the pace of development of natural gas or other infrastructure and its impact on expected crude oil production growth in the Permian Basin;
    • the refusal or inability of our customers or counterparties to perform their obligations under their contracts with us (including commercial contracts, asset sale agreements and other agreements), whether justified or not and whether due to financial constraints (such as reduced creditworthiness, liquidity issues or insolvency), market constraints, legal constraints (including governmental orders or guidance), the exercise of contractual or common law rights that allegedly excuse their performance (such as force majeure or similar claims) or other factors;
    • loss of key personnel and inability to attract and retain new talent;
    • disruptions to futures markets for crude oil, NGL and other petroleum products, which may impair our ability to execute our commercial or hedging strategies;
    • the effectiveness of our risk management activities;
    • shortages or cost increases of supplies, materials or labor;
    • maintenance of our credit ratings and ability to receive open credit from our suppliers and trade counterparties;
    • our inability to perform our obligations under our contracts, whether due to non-performance by third parties, including our customers or counterparties, market constraints, third-party constraints, supply chain issues, legal constraints (including governmental orders or guidance), or other factors or events;
    • the incurrence of costs and expenses related to unexpected or unplanned capital or maintenance expenditures, third-party claims or other factors;
    • failure to implement or capitalize, or delays in implementing or capitalizing, on investment capital projects, whether due to permitting delays, permitting withdrawals or other factors;
    • tightened capital markets or other factors that increase our cost of capital or limit our ability to obtain debt or equity financing on satisfactory terms to fund additional acquisitions, investment capital projects, working capital requirements and the repayment or refinancing of indebtedness;
    • the amplification of other risks caused by volatile or closed financial markets, capital constraints, liquidity concerns and inflation;
    • the use or availability of third-party assets upon which our operations depend and over which we have little or no control;
    • the currency exchange rate of the Canadian dollar to the United States dollar;
    • inability to recognize current revenue attributable to deficiency payments received from customers who fail to ship or move more than minimum contracted volumes until the related credits expire or are used;
    • significant under-utilization of our assets and facilities;
    • increased costs, or lack of availability, of insurance;
    • fluctuations in the debt and equity markets, including the price of our units at the time of vesting under our long-term incentive plans;
    • risks related to the development and operation of our assets; and
    • other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil, as well as in the processing, transportation, fractionation, storage and marketing of NGL as discussed in the Partnerships’ filings with the Securities and Exchange Commission.

    About Plains:

    PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids (“NGL”). PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada. On average, PAA handles over 8 million barrels per day of crude oil and NGL.

    PAGP is a publicly traded entity that owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America.

    PAA and PAGP are headquartered in Houston, Texas. For more information, please visit www.plains.com.

    Contacts:

    Blake Fernandez
    Vice President, Investor Relations
    (866) 809-1291
     
    Michael Gladstein
    Director, Investor Relations
    (866) 809-1291

    The MIL Network –

  • MIL-OSI: Fourth Star Launches Immersive Media Streaming Platform

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, CA , Feb. 07, 2025 (GLOBE NEWSWIRE) — Fourth Star, the cutting-edge virtual reality immersive media streaming platform, is officially available to the public. This innovative platform transforms traditional entertainment by enabling users to seamlessly watch standard 2D, 180 and 360 immersive media content and movies. Fourth Star redefines how audiences engage with immersive storytelling, offering an unparalleled first-person centric perspective on entertainment.

    “Fourth Star is more than just a platform – it’s a revolution in entertainment,” said Greg Simon, Co-Founder & CEO of Fourth Star. “We’ve created an immersive experience where users can not only consume content but also actively participate in it. Our vision is to transform how people experience media content and movies in a way that has never been done before.”

    A New Era of Interactive Entertainment
    The largest immersive media streaming platform available on Sidequest, users can explore nearly forty unique environments, interact with AI-driven crew, and experience entertainment in an entirely new way. Whether socializing in the Café, customizing avatars in private Apartments or Ships, or stepping directly into a movie’s storyline, Fourth Star offers a groundbreaking approach to digital engagement.

    “The combination of VR, AI, and blockchain in Fourth Star sets a new standard for immersive entertainment,” said Craig Wiltshire, CTO of Fourth Star.”Our vision is to seamlessly integrate all three technologies into the user experience. We are redefining the entertainment experience from passive observation to active creation.”

    Built for Content Partners
    Fourth Star is a self-serve platform designed for content partners of all sizes, from individual creators to blockbuster studios. Content partners can set up an account, create content channels, and begin monetizing their work immediately. No integration is required, allowing for seamless onboarding and instant access to a global audience. The Creator Portal empowers partners to distribute and profit from their immersive media with ease, making Fourth Star a truly open and accessible metaverse for digital entertainment.

    Key Features of Fourth Star

    • VR Streaming Platform – Users can access nearly forty environments and own their own luxury apartments and ships all equipped with an immersive media streaming entertainment hub. 
    • Social & Customization – Connect with others in dynamic social hubs, personalize your avatar, and invite your friends to your own luxury apartment and ship. 
    • Player Portal – Users can access the web-based marketplace to explore content, invite friends, 
    • Creator Portal – Set up an account, create content channels, and begin monetizing your work immediately. No integration is required, allowing for seamless onboarding and instant access to a global audience.
    • Blockchain Integration – The FSTR token, built on the Polygon blockchain, powers the ecosystem, providing secure transactions and exclusive rewards.
    • AI-Powered Companions – Coming soon

    FSTR: The Utility Token Powering Fourth Star
    FSTR serves as the primary ecosystem currency within the Fourth Star platform, enabling users to purchase Apartments, Ships, AI Companions, and exclusive content. Token holders benefit from:

    • VIP Access – Exclusive events, early screenings, and red carpet experiences.
    • Discounts – 25% savings on in-app purchases (IAPs) and entertainment content.

    FSTR can be purchased today to unlock the above benefits and more at the Probit Global Exchange using this link: https://tinyurl.com/35jbbcxb

    A New Paradigm in Entertainment
    Fourth Star is designed to deliver the future of entertainment through merging cinematic storytelling with interactive gaming, offering:

    • A seamless transition from passive to interactive experiences.
    • A thriving community for players, creators, and investors.
    • Advanced AI integration for interactive AI characters.
    • Don’t just watch the star in the movie, become the star. 

    Availability and Access
    Fourth Star is now live and available for users worldwide on Sidequest. Whether you’re an explorer, content creator large to small, storyteller, or entertainment enthusiast, Fourth Star provides an immersive space to experience digital entertainment like never before.

    About Fourth Star
    Fourth Star was established in 2022 with platform design and environmental modeling. In 2023, focus turned to closed alpha and beta testing, alongside workshops with content creators. By Q1 2024, we launched the open beta, gathering feedback and introducing creators. In Q2 2024, we launched the FSTR, sold ships and apartments, and developed our creator and partner reward systems. In 2025, we’ll be launching ‘Genevieve’, an AI-powered comprehensive marketing system, advanced AI tools enabling the generation of immersive content and interactive storylines, AI companions, a creator reward system introducing virtual asset rentals, and interactive gamified blockbuster films.

    Join Fourth Star
    Ready to explore the next frontier of entertainment? 

    Website: https://www.fourthstar.com/
    Telegram: https://t.me/fourthstarhq
    X/Twitter: https://x.com/fourthstarhq
    Youtube: https://youtube.com/@fourthstarmetaverse?si=-9iy08EVubLrzFp1

    Media Contact:
    Greg Simon
    CEO and Co-Founder
    greg@fourthstar.com
    XVerse Inc. (DBA Fourth Star)

    The MIL Network –

  • MIL-OSI: SPS Commerce Completes Acquisition of Carbon6 Technologies

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Feb. 07, 2025 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail cloud services, today announced it has completed the acquisition of Carbon6 Technologies, Inc. (Carbon6), a provider of software tools to Amazon sellers, including specialized offerings for revenue recovery for both first-party (1P) and third-party (3P) suppliers.

    “We are very excited to welcome Carbon6 employees and customers to SPS Commerce,” said Chad Collins, CEO of SPS Commerce. “Together, we believe we will deliver unmatched solutions for first-party and third-party sellers and establish SPS as a leading provider in the emerging category of revenue recovery.”

    About SPS Commerce

    SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible experts so our customers can focus on what they do best. Over 45,000 recurring revenue customers in retail, grocery, distribution, supply, manufacturing, and logistics are using SPS as their retail network. SPS has achieved 95 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.

    SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries.

    Forward-Looking Statements

    This press release contains forward-looking statements, including information about management’s view of SPS Commerce’s future expectations, plans and prospects, including our views regarding financial performance expectations, future execution within our business, and the opportunity we see in the retail supply chain world within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of SPS Commerce to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents SPS Commerce files with the Securities and Exchange Commission, including but not limited to, SPS Commerce’s Annual Report on Form 10-K for the year ended December 31, 2023, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on SPS Commerce’s future results. The forward-looking statements included in this press release are made only as of the date hereof. SPS Commerce cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SPS Commerce expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:
    Investor Relations
    The Blueshirt Group
    Irmina Blaszczyk
    Lisa Laukkanen
    SPSC@blueshirtgroup.com
    415-217-4962

    SPS-F

    The MIL Network –

  • MIL-OSI: Xtract One Technologies to be used for Hospital Weapons Detection Screening in Manitoba

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 07, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies (TSX: XTRA)(OTCQX: XTRAF)(FRA: 0PL) (“Xtract One” or the “Company”) today announced its Xtract One Gateway (“Gateway”) has been selected to protect key hospital locations in Manitoba, including at the province’s Health Sciences Centre and Crisis Response Centre locations operated by Shared Health.

    The system will redefine the security experience by not only balancing powerful threat detection with seamless flow for individuals, but also enhancing safety standards and optimizing operational efficiency.

    “Healthcare environments today face two security challenges: providing top-tier security while ensuring that both patients and caregivers feel safe and comfortable,” said Peter Evans, CEO of Xtract One. “This is a trend we’re seeing across the healthcare sector, where providers are actively looking for solutions to these growing challenges, and we welcome the opportunity to play a role in securing health facility environments.”

    Xtract One’s portfolio of screening solutions are designed specifically for scanning individuals and their belongings, allowing seamless passage through checkpoints and reducing the need for separate bag searches, thereby improving screening times dramatically. Gateway unobtrusively scans individuals, their pockets, their bags and backpacks for potential mass casualty weapons while distinguishing harmless personal items like laptops, tablets, three-ring binders, notebooks, eyeglass cases, keys, and phones, streamlining access into and out of facilities without disrupting the flow of movement.

    To learn more, visit www.xtractone.com.

    About Xtract One
    Xtract One Technologies is a leading technology-driven provider of threat detection and security solutions leveraging AI to deliver seamless and secure experiences. The Company makes unobtrusive weapons and threat detection systems that enable facility operators to prioritize and deliver improved “Walk-right-In” experiences while providing unprecedented safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, X, and LinkedIn.

    Forward Looking Statements
    This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, but are not limited to, the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

    For further information, please contact:
    Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com
    Investor Relations: Chris Witty, Darrow Associates, cwitty@darrowir.com, 646-438-9385
    Media Contact: Kristen Aikey, JMG Public Relations, kristen@jmgpr.com, 212-206-1645

    The MIL Network –

  • MIL-OSI Asia-Pac: AI-enabled National Consumer Helpline system set up; gives sector-wise analysis of grievances

    Source: Government of India

    AI-enabled National Consumer Helpline system set up; gives sector-wise analysis of grievances

    National Consumer Helpline available as toll-free number “1915” or through web portal

    Posted On: 07 FEB 2025 11:36AM by PIB Delhi

    In a significant move towards enhancing consumer grievance redressal mechanisms, the Department of Consumer Affairs, under Ministry of Consumer Affairs, Food and Public Distribution, Government of India, has adopted an AI-enabled National Consumer Helpline (NCH) system that offers sector-wise analysis of grievances.

    This new technology-driven approach is aimed at improving the speed and efficiency of resolving consumer issues, particularly in the education sector.

    As a result of these technological advancements, the number of calls received by NCH has grown more than tenfold, from 12,553 in December 2015 to 1,55,138 in December 2024. This exponential growth reflects the rising confidence of consumers in the helpline. Similarly, the average number of complaints registered per month has surged from 37,062 in 2017 to 1,12,468 in 2024. The monthly average number of grievances registered digitally has increased from 54,893 in the FY 2023-24 to 68,831 in FY 2024-25 (as of December 2024).

    The Department therefore, urges all consumers to utilize the National Consumer Helpline accessible via a toll-free number 1915 or web portal https://consumerhelpline.gov.in/user/signup.php for any grievances related to products or services, ensuring that their voices are heard and that their issues are resolved promptly and effectively.

    The NCH has seen a remarkable reduction in the grievance disposal time. In 2024, the disposal rate of consumer grievances decreased to 48 days, down from 66.26 days in 2023. This reflects a substantial improvement in the resolution time; ensuring consumer’s concerns are addressed promptly.

    A key component of this strategy involves proactively identifying and transitioning companies with the highest number of grievances to ‘convergence partners.’ Once onboarding as a ‘convergence partner’ with NCH, these companies, which have the highest number of unresolved consumer complaints, are required to prioritize swift and effective grievance redressal in collaboration with the NCH. Under its initiative aimed at enhancing consumer welfare and promoting fair trade practices, NCH has successfully surpassed the significant milestone of 1,038 convergence companies to date, up from 263 in 2017.

    This initiative has already yielded promising results, especially in sectors such as education, where faster resolution of consumer complaints has become a priority. With NCH’s AI-driven, sector-specific analysis, these convergence partners can now act more effectively and efficiently in resolving consumer issues, thereby enhancing consumer trust and satisfaction. It is a Win-Win situation for both consumers & companies.

    As a result of this ongoing initiative, many large companies identified with the highest number of consumer grievances have now become official convergence partners of the National Consumer Helpline. Their inclusion is expected to lead to quicker resolutions and a higher disposal rate of consumer grievances, ultimately benefiting millions of consumers across the country.

    The NCH, a vital initiative of Department of Consumer Affairs, Government of India, has proven to be a cornerstone in the effective and timely redressal of consumer grievances. Operating at the pre-litigation stage, the helpline has made significant strides in resolving consumer complaints across a wide range of sectors, including Broadband & Internet, E-commerce, Consumer Durables, Digital Payment Modes, Petroleum, Banking, healthcare, consumer durables, real estate, and automobiles, etc. without requiring consumers to resort to formal legal proceedings.

    Below are key highlights that demonstrate the significant impact of the NCH in promoting consumer rights and enhancing the grievance redressal mechanism:

    Some of the key success stories includes:

    Broadband & Internet: A consumer from West Bengal encountered difficulties in obtaining a refund from an Internet service provider for services that were not availed. After reaching out to the National Consumer Helpline, the issue was resolved promptly. The provider issued a full refund and rectified the consumer’s account. Additionally, other satisfied consumers shared their positive feedback with the department, commending the efficient and effective resolution of their issues.

    E-Commerce Sector: A consumer from Karnataka raised an issue regarding the refund and return of a defective product received from an online retailer. Following the intervention of the National Consumer Helpline (NCH), the product was replaced, and a refund was promptly facilitated, enhancing the consumer’s trust in e-commerce platforms. Furthermore, the consumer shared their positive feedback, reflecting their increased trust in NCH 2.0. The review emphasized the effectiveness and reliability of the helpline in resolving issues swiftly and efficiently, further bolstering consumer confidence in the platform’s services.

    Consumer Durables: A citizen from Rajasthan reported a major malfunction in a product he had purchased. Despite his continuous requests, the company had failed to address the issue. With the assistance of the National Consumer Helpline (NCH), the product was promptly replaced, and the company issued a formal apology. Furthermore, consumers from different states shared their valuable feedback about the NCH team, praising their professionalism and efficiency in resolving grievances.

    Digital Payment Mode: A complaint was raised by a consumer from Delhi who was unable to use his online transaction service, and an amount of Rs. 45,000/- was frozen in his account. After engaging the National Consumer Helpline (NCH), the issue was resolved swiftly, with the bank unfreezing the amount and restoring the consumer’s access to their account. Furthermore, other satisfied consumers shared their positive reviews with the department, praising the efficient and timely intervention by NCH in resolving their grievances.

     

    Petroleum: A buyer in Telangana encountered extra charges that exceeded the MRP when receiving a cylinder he had booked. With the intervention of the National Consumer Helpline (NCH), the issue was swiftly resolved, and the consumer was compensated, safeguarding his rights.  Additionally, consumers from various corners of the nation shared their views regarding the operation of NCH 2.0.

    ****

    Abhishek Dayal/Nihi Sharma

    (Release ID: 2100545) Visitor Counter : 15

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governor Newsom signs executive order to further prepare for future urban firestorms, stepping up already nation-leading strategies

    Source: US State of California 2

    Feb 6, 2025

    What you need to know: Governor Newsom signed an executive order to launch key initiatives to continue adapting to future extreme firestorm events in urban communities and leading the way to build a more resilient state.

    Sacramento, California – Adding to California’s nation-leading fire safety  standards, Governor Gavin Newsom today signed an executive order to further improve community hardening and wildfire mitigation strategies to neighborhood resilience statewide. A copy of the executive order is available here.

    We are living in a new reality of extremes. Believe the science – and your own damn eyes: Mother Nature is changing the way we live and we must continue adapting to those changes. California’s resilience means we will keep updating our standards in the most fire-prone areas.

    Governor Gavin Newsom

    The executive order issued by Governor Newsom does the following:

    • Directs the State Board of Forestry to accelerate its work to adopt regulations known as “Zone 0,” which will require an ember-resistant zone within 5 feet of structures located in the highest fire severity zones in the state.
    • Tasks the Office of the State Fire Marshal with releasing updated Fire Hazard Severity Zone maps for areas under local government responsibility, adding 1.4 million new acres of land into the two higher tiers of fire severity, which will update building and local planning requirements for these communities statewide.
    • Requires the Department of Forestry and Fire Protection (CAL FIRE) and the Governor’s Office of Emergency Services (Cal OES) to work with local, federal and tribal partners on improvements to the Federal resource ordering system for wildfire response. 

    Protecting homes 

    Science has shown that combustible material within the immediate five feet of a structure contributes the greatest risk of embers directly or indirectly igniting the home. “Zone 0” regulations under development for new and existing construction would require an ember-resistant zone within the immediate 5-feet of structures in local area Very High Fire Hazard Severity Zones in Local Responsibility Areas, and Fire Hazard Severity Zones in State Responsibility Areas.

    Zone 0 regulations would move forward this year in tandem with financial assistance and relief for homeowners, proposed in the Governor’s January Budget, and to be augmented by the California Conservation Corps supporting work in vulnerable communities and in coordination with local Fire Safe Councils. While it is anticipated that the regulations would apply to new construction upon taking effect, requirements for existing homes would likely be phased in over three years to allow homeowners to prepare and prioritize mitigations and secure financial assistance.

    Research suggests that the cost of building a home with Zone 0 mitigations already incorporated adds little to no cost to building a comparable home without those features. 

    Updating fire hazard severity areas

    To ensure future resiliency against urban firestorms, local government planners and developers will have to factor in wildfire-hardening requirements in building planning, design, and construction within nearly 2.3 million acres of land in areas where local governments are responsible for wildfire prevention and response, known as local responsibility areas.

    The release of updated Fire Hazard Severity Zones for Local Responsibility Area maps would identify new areas where new development is required to adhere to the highest standards of wildfire resilient building codes and land-use planning. These new zones and maps would add approximately 1.4 million new acres of land into the two higher tiers of fire hazard severity. Specifically, they would expand current wildfire building resiliency requirements in the High-Fire Hazard Severity Zone to approximately 1.16 million new acres, and they would expand both current wildfire building and local planning resiliency requirements in the Very High- Fire Hazard Severity Zone to approximately 247,000 new acres. 

    The release of these updated zones and maps, which are expected to be released one region at a time beginning in Northern California, would begin a 120-day clock for local government jurisdictions to adopt local ordinances incorporating the State Fire Marshal’s recommendations.

    The release of these Local Responsibility Area maps would follow last year’s release of equivalent updated zones and maps in the State Responsibility Area, and follow months of planning discussions, including consultation with insurance providers who have developed their own models to determine risk, premiums and coverage that are independent of the state’s Fire Hazard Severity Zone maps.

    Investing in wildfire prevention

    Overall, the state has more than doubled investments in wildfire prevention and landscape resilience efforts, providing more than $2.5 billion in wildfire resilience since 2020, with an additional $1.5 billion from the 2024 Climate Bond to be committed beginning this year for proactive projects that protect communities from wildfire and promote healthy natural landscapes. Of note, since 2021, the State has made strategic investments in at least 61 fuels reduction projects near the Palisades and Eaton fire perimeters through projects treated over 14,500 acres.

    The Newsom Administration has invested $2 billion to support CAL FIRE operations, a 47% increase since 2018, which has helped build CAL FIRE from 5,829 positions to 10,741 in that same period, and the Administration is now implementing shorter workweeks for state firefighters to prioritize firefighter well-being while adding 2,400 additional state firefighters to CAL FIRE’s ranks over the next five years. 

    Augmenting technological advancements and pre-deployment opportunities 

    The Newsom Administration has also overseen the expansion of California’s aerial firefighting fleet, including the addition of more than 16 helicopters with several equipped for night operations, expanded five helitack bases, and assumed ownership of seven C-130 air tankers, making it the largest fleet of its kind globally. 

    California is also leveraging AI-powered tools to spot fires quicker, has deployed the Fire Integrated Real-Time Intelligence System (FIRIS) to provide real-time mapping of wildfires, and has partnered with the U.S. Department of Defense to use satellites for wildfire detection and invested in LiDAR technology to create detailed 3D maps of high-risk areas, helping firefighters better understand and navigate complex terrains. 

    In anticipation of severe fire weather conditions in early January 2025, Cal OES approved the prepositioning of 65 fire engines, as well as more than 120 additional firefighting resources and personnel in Los Angeles, Orange, Santa Barbara, Ventura, Riverside, San Bernardino, and San Diego counties, and CAL FIRE moved firefighting resources to Southern California including 45 additional engines and six hand crews to the region. 

    During the wildfires, California was able to mobilize more than 16,000 personnel including firefighters, National Guard servicemembers, California Highway Patrol officers and transportation teams to support the response to the Los Angeles firestorms, and more than 2,000 firefighting apparatus composed of engines, aircraft, dozers and water tenders to aid in putting out the fires. 

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    What they’re saying: 

    • Sacramento Mayor Darrell Steinberg, original author of the Mental Health Services Act: “Twenty years ago, I never could have dreamed that we would have the strong leadership we have today, committing billions and making courageous policy changes that question the conventional wisdom on mental health. Now, with the passage of Proposition 1. California is delivering on decades old promises to help people living with brain-based illnesses, to live better lives, to live independently and to live with dignity in our communities. This is a historic moment and the hard work is ahead of us.“
    • Senator Susan Eggman (D-Stockton), author of Senate Bill 326: “Today marks a day of hope for thousands of Californians who are struggling with mental illness – many of whom are living unhoused. I am tremendously grateful to my fellow Californian’s for passing this important measure.  And I am very appreciative of this Governor’s leadership to transform our behavioral health care system!”
    • Assemblymember Jacqui Irwin (D-Thousand Oaks), author of Assembly Bill 531: “This started as an audacious proposal to address the root cause of homelessness and today, Californians can be proud to know that they did the right thing by passing Proposition 1. Now, it’s time for all of us to get to work, and make sure these reforms are implemented and that we see results.”

    Bigger picture: Transforming the Mental Health Services Act into the Behavioral Health Services Act and building more community mental health treatment sites and supportive housing is the last main pillar of Governor Newsom’s Mental Health Movement – pulling together significant recent reforms like 988 crisis line, CalHOPE, CARE Court, conservatorship reform, CalAIM behavioral health expansion (including mobile crisis care and telehealth), Medi-Cal expansion to all low-income Californians, Children and Youth Behavioral Health Initiative (including expanding services in schools and on-line), Older Adult Behavioral Health Initiative, Veterans Mental Health Initiative, Behavioral Health Community Infrastructure Program, Behavioral Health Bridge Housing, Health Care Workforce for All and more.

    More details on next step here

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