NewzIntel.com

Category: Pandemic

  • MIL-OSI Global: How the CDC’s Epidemic Intelligence Service protects public health at home and abroad

    Source: The Conversation – USA – By Mark Dworkin, Professor of Epidemiology, University of Illinois Chicago

    The Epidemic Intelligence Service has produced a cadre of highly trained public health experts over its 74-year history. peterhowell/iStock / Getty Images Plus via Getty Images

    When the Trump administration announced in February 2025 that it was cutting 10% of staff at the Centers for Disease Control and Prevention, it seemed that a small but storied program within it called the Epidemic Intelligence Service – also known as the CDC’s disease detectives – would also be cut. A few days later, the program was reinstated. And in March, Epidemic Intelligence Service officers traveled to Texas to support the state’s public health officials in fighting the ongoing measles epidemic.

    But after another massive upheaval at the CDC in April, the unit’s future is uncertain. As of now, applications for the program’s next round of fellows has been postponed.

    The Epidemic Intelligence Service is a dynamic crisis response team. Just as firefighters rush into burning buildings to save lives, this team’s specialists mobilize both domestically and internationally to help curb disease outbreaks. But first and foremost, it is a training program that has produced some of the most highly trained and regarded public health experts in the country who have gone on to work at local and state public health offices, academic departments and international health organizations.

    We are public health experts – one an experienced professor who served in the Epidemic Intelligence Service from 1994-1996, and the other an early career trainee who was accepted to its incoming class of 2025-2027. Although it’s not clear how the administration will enact its new vision for the CDC, we hope a continued urgency to identify and fight infectious disease threats – the essence of the Epidemic Intelligence Service – remains a national priority.

    A program rooted in national security

    The Epidemic Intelligence Service is a two-year fellowship open to physicians, scientists and other health professionals. The program accepts 50 to 80 people each year.

    Students participate in an Epidemic Intelligence Service officer training course in July 1955.
    Dr. Alex Langmuir, CDC

    The Epidemic Intelligence Service was founded in 1951, just five years after the launch of the CDC, in response to Cold War-era concerns about biological warfare. Alexander Langmuir, its founder, was the CDC’s chief epidemiologist and has often been called the father of shoe-leather epidemiology – on-the-ground, out-of-the-office disease investigation through extensive field work and engagement with affected populations.

    In a report announcing the unit’s establishment, Langmuir and a colleague wrote that one of the “problems that would emerge in the event of biological warfare attacks” was “the dearth of trained epidemiologists.” They recognized the urgent need for a specialized team capable of rapidly identifying and responding to potential bioterrorism threats.

    Newspaper headlines on April 13, 1955, announce the effectiveness of the polio vaccine.
    March of Dimes via Wikimedia Commons

    The new division soon evolved to address a wide range of civilian public health threats. In 1955, as one of its first major actions, the program’s officers were tasked with investigating an outbreak of polio in children that started just as the first mass vaccination campaign against the disease launched. Within weeks, Epidemic Intelligence Service officers helped trace the outbreak to a few batches of a vaccine manufactured by a California company called Cutter Laboratories in which the virus had not been properly killed. The incident led to increased safety regulations in vaccine production and boosted public confidence, paving the way to eliminating polio from the U.S. in the ensuing decades.

    The Epidemic Intelligence Service has led the way in tackling many of the most historically significant outbreaks of the past 75 years. Starting in 1966, the unit’s officers were deployed to West Africa to assist in a worldwide smallpox eradication campaign that laid the groundwork for eliminating the disease 13 years later. In 1976, the disease detectives were sent to investigate an outbreak in Philadelphia of a mysterious deadly illness. They helped to characterize what would eventually be known as Legionnaires’ disease, a previously unknown bacterial cause of pneumonia.

    And in 1981, a tip from an Epidemic Intelligence Service officer serving in the Los Angeles County Health Department led to the first description of a new disease that would become the global epidemic of HIV-AIDS. The program’s officers went on to help lead foundational studies on prevalence, prevention and treatment of AIDS around the world.

    Beyond vaccines and immunization

    Even from its earliest days, vaccine-preventable and infectious diseases were far from the Epidemic Intelligence Service’s only focus. During the program’s first 15 years, its officers were involved in a wide swath of epidemiological investigations in areas including lead paint exposure, a cancer cluster’s connection to birth defects, family planning practices and famine relief.

    These activities established the group’s priorities of addressing chronic diseases and population health – goals that have also driven its involvement in disaster response efforts, including hurricanes Harvey, Irma, Maria and Katrina, as well as the terrorist attacks on Sept. 11, 2001.

    The Epidemic Intelligence Service has also played a key role in keeping the nation’s food supply safe. It investigates major outbreaks of foodborne illnesses, helping to identify which foods are implicated so that contaminated products are removed from shelves and disseminating investigation findings that inform food safety policy. For example, officers investigated a 1993 outbreak of Escherichia coli O157:H7 linked to undercooked hamburgers at several Jack in the Box restaurants. The outbreak sickened more than 700 people and resulted in the deaths of four children. It also led to major food safety reforms including expanded meat and poultry inspection nationwide.

    The CDC’s “disease detectives” train at sites across the U.S. and abroad.

    A legacy of impact

    The importance of an expert, nimble team of disease detectives has only increased. Over the past few years, Epidemic Intelligence Service officers have responded to countless public health threats.

    The program’s officers were involved at every stage of the COVID-19 pandemic response, conducting outbreak investigations on cruise ships, in prisons and in many other settings. They investigated the outbreak of monkeypox in the U.S. in 2022. Most recently they have investigated cases of avian influenza and are working to help describe and control the ongoing measles outbreak in Texas.

    Perhaps the Epidemic Intelligence Service’s most significant legacy has been in building a worldwide network of deep epidemiological expertise. To date, the program has trained more than 4,000 disease detectives, and its officers have collectively conducted thousands of outbreak investigations.

    The unit’s impact has been global. It has been called in to investigate outbreaks on six continents and has served as a model for epidemiology programs developed in dozens of countries.

    All of these activities, at home and abroad, have shaped health policy in crucial ways that in turn protect people’s health. It is increasingly clear that disease outbreaks will continue to occur in the U.S. and abroad. In our view, the Epidemic Intelligence Service’s history provides rich evidence of its value.

    I am currently a member of the EIS Alumni Association Executive Committee.

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

    – ref. How the CDC’s Epidemic Intelligence Service protects public health at home and abroad – https://theconversation.com/how-the-cdcs-epidemic-intelligence-service-protects-public-health-at-home-and-abroad-251042

    MIL OSI – Global Reports –

  • MIL-OSI: 180 Degree Capital Corp. Notes Preliminary Net Asset Value per Share of $4.42 as of March 31, 2025, and Portfolio Company Updates From Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    MONTCLAIR, N.J., April 14, 2025 (GLOBE NEWSWIRE) — 180 Degree Capital Corp. (NASDAQ: TURN) (“180 Degree Capital”) provided the following update regarding its portfolio company holdings during the first quarter of 2025.

    “As we mentioned in our press release on March 24, 2025, that noted the filing of our preliminary joint proxy statement/prospectus, Q1 2025 has been positive for a number of portfolio holdings,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “Our preliminary net asset value per share (“NAV”) as of March 31, 2025, of $4.42, is the result of strong performance from our public investments that outperformed the Russell Microcap Index by approximately 1900bps offset by expenses related to our proposed all-stock merger with Mount Logan Capital, Inc. (the “Business Combination”). On a relative basis, our gross total return of +4.5% compares favorably to the –14.4% total return for the Russell Microcap Index.1 The difference between our gross total return and our net total return, or change in NAV, of -4.7% was primarily the result of expenses related to our Business Combination and included almost $300,000 in additional professional fees resulting from the public efforts to derail our proposed Business Combination. Our day-to-day operating expenses declined by over 30% from Q1 2024.”

    Mr. Rendino continued, “We are certainly open and interested in the perspectives of our shareholders and are always available to speak with any and every shareholder. That said, we would prefer to allocate our capital to efforts to grow our NAV rather than adding unnecessary expense to this proposed Business Combination. While the direct merger-related expenses incurred in Q1 2025 were material, we continue to believe that this investment will result in significant future value creation for 180 Degree Capital shareholders through their material ownership of the merged company. We believe the capabilities of Mount Logan will greatly advance our ability to provide more comprehensive solutions to public companies, and we remain fully convinced that this is the right path for value creation for 180 Degree Capital’s shareholders.”

    Daniel Wolfe, President of 180 Degree Capital added, “Along with providing this preliminary NAV as of March 31, 2025, we thought it would also be useful to note the performance of our individual portfolio companies in the quarter. Q1 2025 provided a lot of positive momentum, overall, in our efforts on the investment front to build maximum net asset value for 180 Degree Capital shareholders as we head into our proposed Business Combination with Mount Logan Capital. As Kevin noted above, our gross total return during Q1 2025 that was approximately 1900 basis points above the benchmark represents extraordinary gross performance for us. Q2 2025 has started off with significant headwinds resulting from the potential impacts of tariffs and increases in the probability of a recession. While our largest investments have little to no direct exposure to the proposed or implemented tariffs, they are not immune to potential collateral impacts, including a recession and/or material declines in consumer spending. Even with these headwinds, as of the close of the public markets on April 11, 2025, our estimated gross and net total return in 2025 continues to be approximately 1800bps and 1000bps ahead of the Russell Microcap Index.1 As always, we are laser-focused on our resolve to navigate these uncertain times and set a floor for potential future value creation for our collective shareholders.”

    Exited Positions:

    • Intevac, Inc. (IVAC) – On February 13, 2025, IVAC announced it entered into a definitive agreement to be acquired by Seagate Technology Holdings plc. The acquisition closed on March 31, 2025. In addition to the acquisition price of $4.00 per share, IVAC issued aggregate distributions to shareholders of an additional $0.102 per share. The total proceeds of $4.102 per share was a 20.6% premium to the closing price of IVAC on December 31, 2024, and increased NAV by $0.07.
    • Brightcove, Inc. (BCOV) – On February 4, 2025, Bending Spoons completed its acquisition of BCOV for $4.45 per share, or a 2.3% premium to the closing price of BCOV on December 31, 2024, and increased NAV by 0.01.

    Ongoing Positions (Largest to Smallest by Value):

    • Potbelly Corporation (PBPB) – While PBPB reported Q4 2024 results that beat guidance and analyst estimates, Q1 2025 guidance included negative comps that were weaker than analyst estimates due to inclement weather in January and February in key market areas in the Midwest, DC and Texas. Weeks in Q1 2025 with no weather impact showed year-over-year growth in comps, and without inclement weather, PBPB believed comps for Q1 would have been positive. March comps were communicated to be back on track with positive comps. Even with the weather-related headwinds in Q1 2025, PBPB’s full-year 2025 guidance included comps to increase between 1.5-2.5% and EBITDA was in-line with estimates. PBPB expects to open at least 38 stores this year, with about 85% of that number being franchised shops. PBPB’s stock price increased from $9.42 on December 31, 2024, to $9.51 on March 31, 2025, or +1.0%, and increased NAV by $0.01.
    • Synchronoss Technologies, Inc. (SNCR) – SNCR reported results for Q4 2024 that exceeded all analyst estimates. Guidance for 2025 included strong EBITDA and free cash flow generation enabled by increasing gross margins and continued subscriber growth amongst its largest customers. SNCR also reported progress towards the receipt of an expected $28 million plus interest tax refund from the IRS. SNCR’s stock price increased from $9.60 on December 31, 2024, to $10.89 on March 31, 2025, or +13.4%, and increased NAV by $0.12.2
    • Ascent Industries Co. (ACNT) – ACNT’s Q4 2024 results showed continued improvement in operating efficiency led to dramatic improvements in GM, EBITDA and profitability. The unlock of working capital and inventory led to an increase in cash on hand from $8m to $16m. ACNT also renegotiated a major chemical contract that, when combined with other operational improvements is currently expected to more than offset continued soft demand in the chemicals market—the recovery of which ACNT currently expects to H2 2025 or 2026. On March 12, 2025, ACNT announced the sale of its Bristol Metals subsidiary for $45 million as part of its continued effort to become a pure-play chemicals business. ACNT’s stock price increased from $11.18 on December 31, 2024, to $12.66 on March 31, 2025, or +13.2%, and increased NAV by $0.06.
    • comScore, Inc. (SCOR) – SCOR reported Q4 2024 results that included a return to top-line growth and meaningful EBITDA growth. Growth was strongest in its cross-platform and activation businesses at approximately 20%+, and such growth rate is currently expected to continue and potentially expand in 2025. In January 2025, SCOR announced a revised data licensing agreement with Charter that saves a minimum of $35 million over the remaining life of the data contract. Additionally, SCOR secured additional debt capital from Blue Torch to enable investment in growing businesses. SCOR’s stock price increased from $5.84 on December 31, 2024, to $6.87 on March 31, 2025, or +17.6%, and increased NAV by $0.04.
    • RF Industries, Ltd. (RFIL) – RFIL reported strong performance in its fiscal first quarter that ended on January 31, 2025, that exceeded analyst estimates and included strong year-over-year and quarter-over-quarter growth. RFIL’s management noted improving visibility across its customer base along with demand for its higher-gross-margin products. RFIL’s management noted that improvements in its operations to date and further optimization of its manufacturing over the ensuing quarters are expected to enable RFIL to reach its goal of EBITDA margins of at least 10%. RFIL’s stock price increased from $3.91 on December 31, 2024, to $4.69 on March 31, 2025, or +19.9%, and increased NAV by $0.04.
    • Arena Group Holdings, Inc. (AREN) – AREN currently expects to report its Q4 2024 and full year 2024 results on or before April 15, 2025. During Q1 2025, AREN announced the appointment of Paul Edmondson as Chief Executive Officer. AREN’s stock price increased from $1.34 on December 31, 2024, to $1.73 on March 31, 2025, or +29.1%, and increased NAV by $0.04.
    • Lantronix, Inc. (LTRX) – While LTRX’s FYQ2 25 (CYQ4 24) report beat estimates, FYQ3 (CYQ1 25) guidance trailed consensus estimates largely because estimates had revenue from Gridspertise continuing at similar levels to first two fiscal quarters of 2025 and instead no revenue is expected in FYQ3 and Q4 2025. This was the second quarter of beat on prior quarter, but guide down on subsequent quarter, which impacted credibility of management with investors. LTRX’s core out-of-band business is doing well with high margins. Overall margins are expected to improve as low-margin Gridspertise business rolls off. Even with the below consensus guide, LTRX expects to remain adj. EPS positive and cash flow positive. LTRX’s stock price decreased from $4.12 on December 31, 2024, to $2.49 on March 31, 2025, or -39.6%, and decreased NAV by $0.11.
    • Commercial Vehicle Group, Inc. (CVGI) – While CVGI reported results in Q4 2024 and EBTIDA guidance for 2025 that exceeded analyst estimates, revenue guidance for 2025 was materially below analyst estimates due to continued expected softness in construction and agricultural equipment markets. While CVGI expects to be able pass-through tariff costs to its customers, it is possible that such uncertainty may delay or reduce customer demand. CVGI has been able to obtain covenant relief from its lenders and is proactively taking steps to refinance its outstanding term loan and ABL facilities well ahead of the term loan maturity in 2027 and to establish a new set of covenants that better align with the current state of its business. The substantial decline in CVGI’s stock price during 2024 and continuing into 2025 will likely lead to CVGI being removed from the Russell Indices. CVGI’s stock price decreased from $2.48 on December 31, 2024, to $1.15 on March 31, 2025, or -53.6%, and decreased NAV by $0.05.

    New Positions:

    • 180 Degree Capital began building new positions in three publicly traded companies during Q1 2025, that it looks forward to discussing in future communications with investors.

    Mr. Wolfe concluded, “We have used, and plan to continue to actively use, the ongoing volatility in the public markets to identify and take advantage of investment opportunities that we believe can lead to appreciation in 180 Degree Capital’s net asset value ahead of our proposed Business Combination. The timing of the sales of BCOV and IVAC could not have been better as they have provided us with substantial capital to take advantage of these opportunities as they present themselves. Meanwhile, this cash provides a cushion to the impact of the volatility on our current holdings and interest income. With regard to merger-related expenses, we currently believe that a substantial portion of these expenses were front-end loaded, and as such, future merger-related expenses will be materially lower than those incurred to date. We are actively managing these and our day-to-day expenses to minimize the impact to NAV as much as possible. We look forward to further discussions with shareholders including after we update our joint preliminary proxy statement/prospectus to include the U.S. GAAP financials for Mount Logan and to our continued progress toward the planned completion of our proposed Business Combination in the ensuing months.”

    About 180 Degree Capital Corp.

    180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 Degree Capital and its holdings can be found on its website at www.180degreecapital.com.

    Press Contact:
    Daniel B. Wolfe
    Robert E. Bigelow
    180 Degree Capital Corp.
    973-746-4500
    ir@180degreecapital.com

    Additional Information and Where to Find It

    In connection with the agreement and plan of merger among 180 Degree Capital Corp. (“180 Degree Capital”), Mount Logan Capital Inc. (“Mount Logan”), Yukon New Parent, Inc. (“New Mount Logan”), Polar Merger Sub, Inc., and Moose Merger Sub, LLC, dated January 16, 2025, as it may from time to time be amended, modified or supplemented (the “Merger Agreement”) that details the proposed combination of the businesses of 180 Degree Capital and Mount Logan and any other transactions contemplated by and pursuant to the terms of the Merger Agreement (the “Business Combination”), 180 Degree Capital intends to file with the SEC and mail to its shareholders a proxy statement on Schedule 14A (the “Proxy Statement”), containing a form of WHITE proxy card. In addition, the surviving Delaware corporation, New Mount Logan plans to file with the SEC a registration statement on Form S-4 (the “Registration Statement”) that will register the exchange of New Mount Logan shares in the Business Combination and include the Proxy Statement and a prospectus of New Mount Logan (the “Prospectus”). The Proxy Statement and the Registration Statement (including the Prospectus) will each contain important information about 180 Degree Capital, Mount Logan, New Mount Logan, the Business Combination and related matters. SHAREHOLDERS OF 180 DEGREE CAPITAL AND MOUNT LOGAN ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS CONTAINED IN THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE APPLICABLE SECURITIES REGULATORY AUTHORITIES AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT 180 DEGREE CAPITAL, MOUNT LOGAN, NEW MOUNT LOGAN, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and security holders may obtain copies of these documents and other documents filed with the applicable securities regulatory authorities free of charge through the website maintained by the SEC at https://www.sec.gov and the website maintained by the Canadian securities regulators at www.sedarplus.ca. Copies of the documents filed by 180 Degree Capital are also available free of charge by accessing 180 Degree Capital’s investor relations website at https://ir.180degreecapital.com.

    Certain Information Concerning the Participants

    180 Degree Capital, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the Business Combination. Information about 180 Degree Capital’s executive officers and directors is available in 180 Degree Capital’s Annual Report filed on Form N-CSR for the year ended December 31, 2024, which was filed with the SEC on February 13, 2025, and in its proxy statement for the 2024 Annual Meeting of Shareholders (“2024 Annual Meeting”), which was filed with the SEC on March 1, 2024. To the extent holdings by the directors and executive officers of 180 Degree Capital securities reported in the proxy statement for the 2024 Annual Meeting have changed, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at https://www.sec.gov. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the 180 Degree Capital shareholders in connection with the Business Combination will be contained in the Proxy Statement when such document becomes available.

    Mount Logan, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Mount Logan in favor of the approval of the Business Combination. Information about Mount Logan’s executive officers and directors is available in Mount Logan’s annual information form dated March 13, 2025, available on its website at https://mountlogancapital.ca/investor-relations and on SEDAR+ at https://sedarplus.ca. To the extent holdings by the directors and executive officers of Mount Logan securities reported in Mount Logan’s annual information form have changed, such changes have been or will be reflected on insider reports filed on SEDI at https://www.sedi.ca/sedi/. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Mount Logan shareholders in connection with the Business Combination will be contained in the Prospectus included in the Registration Statement when such document becomes available.

    Non-Solicitation

    This letter and the materials accompanying it are not intended to be, and shall not constitute, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release, and oral statements made from time to time by representatives of 180 Degree Capital and Mount Logan, may contain statements of a forward-looking nature relating to future events within the meaning of federal securities laws. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “could,” “continue,” “estimate,” “expects,” “intends,” “will,” “should,” “may,” “plan,” “predict,” “project,” “would,” “forecasts,” “seeks,” “future,” “proposes,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions). Forward-looking statements are not statements of historical fact and reflect Mount Logan’s and 180 Degree Capital’s current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the Business Combination involving Mount Logan and 180 Degree Capital, including future financial and operating results, Mount Logan’s and 180 Degree Capital’s plans, objectives, expectations and intentions, the expected timing and likelihood of completion of the Business Combination, and other statements that are not historical facts, including but not limited to future results of operations, projected cash flow and liquidity, business strategy, payment of dividends to shareholders of New Mount Logan, and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this press release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the ability to obtain the requisite Mount Logan and 180 Degree Capital shareholder approvals; the risk that Mount Logan or 180 Degree Capital may be unable to obtain governmental and regulatory approvals required for the Business Combination (and the risk that such approvals may result in the imposition of conditions that could adversely affect New Mount Logan or the expected benefits of the Business Combination); the risk that an event, change or other circumstance could give rise to the termination of the Business Combination; the risk that a condition to closing of the Business Combination may not be satisfied; the risk of delays in completing the Business Combination; the risk that the businesses will not be integrated successfully; the risk that synergies from the Business Combination may not be fully realized or may take longer to realize than expected; the risk that any announcement relating to the Business Combination could have adverse effects on the market price of Mount Logan’s common shares or 180 Degree Capital’s common shares; unexpected costs resulting from the Business Combination; the possibility that competing offers or acquisition proposals will be made; the risk of litigation related to the Business Combination; the risk that the credit ratings of New Mount Logan or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the Business Combination; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Business Combination; competition, government regulation or other actions; the ability of management to execute its plans to meet its goals; risks associated with the evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions; natural and man-made disasters; civil unrest, pandemics, and conditions that may result from legislative, regulatory, trade and policy changes; and other risks inherent in Mount Logan’s and 180 Degree Capital’s businesses. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Readers should carefully review the statements set forth in the reports, which 180 Degree Capital has filed or will file from time to time with the SEC and Mount Logan has filed or will file from time to time on SEDAR+.

    Neither Mount Logan nor 180 Degree Capital undertakes any obligation, and expressly disclaims any obligation, to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Any discussion of past performance is not an indication of future results. Investing in financial markets involves a substantial degree of risk. Investors must be able to withstand a total loss of their investment. The information herein is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. The references and link to the website www.180degreecapital.com and mountlogancapital.ca have been provided as a convenience, and the information contained on such websites are not incorporated by reference into this press release. Neither 180 Degree Capital nor Mount Logan is responsible for the contents of third-party websites.

    1. Past performance is not an indication or guarantee of future performance. Gross unrealized and realized total returns of 180 Degree Capital’s cash and securities of publicly traded companies are compounded on a quarterly basis, and intra-quarter cash flows from investments in or proceeds received from privately held investments are treated as inflows or outflows of cash available to invest or withdrawn, respectively, for the purposes of this calculation. 180 Degree Capital is an internally managed registered closed-end fund that has a portion of its assets in legacy privately held companies that are fair valued on a quarterly basis by the Valuation Committee of its Board of Directors, and 180 Degree Capital does not have an external manager that is paid fees based on assets and/or returns. Please see 180 Degree Capital’s filings with the SEC, including its 2024 Annual Report on Form N-CSR for information on its expenses and expense ratios.

    2. Inclusive of restricted stock units and options for the purchase of restricted stock issued to Kevin Rendino as compensation for service on the board of directors of SNCR. All economic benefit from these securities has been assigned to 180 Degree Capital.

    The MIL Network –

  • MIL-OSI Economics: Claudia Buch: European banking integration – harnessing the benefits, containing the risks

    Source: Bank for International Settlements

    Thank you very much for inviting me to speak here today. Poland’s presidency of the Council of the European Union comes at time of exceptional uncertainty. The global economy is under strain from heightened geopolitical risks, trade tensions, and financial market volatility. Within Europe, this is adding to the pressure to revive growth and deepen the integration of the Single Market. Poland’s economic history holds important lessons, having made the transition from a centrally planned economy four decades ago to being a fully-fledged member of the EU for two decades.

    I would like to focus on banking integration, one of the banking union’s main objectives and a key component of Poland’s economic transformation. Although more than ten years have passed since the banking union was established, its objectives could not be more relevant today. The banking union has clearly delivered in terms of providing better, more harmonised supervision, a stronger regulatory framework and a resolution regime. European banks have proven to be resilient to recent shocks, including the COVID-19 pandemic, the energy crisis and the banking market turmoil of March 2023. Better regulation and supervision have made a significant contribution to this, as has policy support for the real economy.

    Yet hopes that the banking union would lead to closer integration of banking markets across Europe have not fully materialised. Cross-border mergers have remained relatively rare, about 75% of banks’ lending portfolios are invested in their home markets, and few banks have truly European business models.

    Promotion of the Single Market for banking services by removing barriers to integration would offer many benefits. This would allow for better diversification of risks and better use of scale and scope. Banks could develop European strategies as a response to the digitalisation of financial services. Recent reports on the European economy stress the need to strengthen productivity by harnessing the Single Market’s scale, improving access to equity finance, reforming the labour market and implementing structural reforms. Consumers would benefit from these measures, which would also help to promote growth. Although these reports focus mainly on the real economy, similar factors are at play in the banking sector.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi inaugurates, lays foundation stone of development projects in Yamuna Nagar, Haryana

    Source: Government of India

    Prime Minister Shri Narendra Modi inaugurates, lays foundation stone of development projects in Yamuna Nagar, Haryana

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    Posted On: 14 APR 2025 3:12PM by PIB Delhi

    The Prime Minister Shri Narendra Modi inaugurated and laid the foundation stone of various development projects in Yamuna Nagar, Haryana today. Extending his greetings to the people of Haryana, he paid homage to the sacred land of Haryana, acknowledging it as the origin of Maa Saraswati, the abode of Mantra Devi, the site of Panchmukhi Hanuman Ji, and the blessed Kapalmochan Sahib. “Haryana is a confluence of culture, devotion, and dedication”, he described. He also conveyed his heartfelt wishes to all citizens on the 135th birth anniversary of Babasaheb Ambedkar, highlighting Babasaheb’s vision and inspiration, which continue to guide India’s journey toward development.

    “Yamunanagar is not just a city but a vital part of India’s industrial landscape, contributing significantly to the economy with its industries ranging from plywood to brass and steel”, said Shri Modi, highlighting the cultural and historical significance of the region, mentioning the Kapal Mochan Mela, the sacred land of Rishi Ved Vyas, and the site of Guru Gobind Singh Ji’s weaponry. He shared his personal connection with Yamunanagar, recalling his frequent visits from Panchkula during his tenure as Haryana’s in-charge. He expressed gratitude for the dedicated workers he collaborated with and acknowledged the enduring tradition of hard work and commitment in the region.

    Underlining that Haryana is witnessing the double speed of development under the Union and State governments for the third consecutive term, the Prime Minister emphasized the commitment to a developed Haryana as part of the vision for a developed India. He highlighted the government’s dedication to serving the people of Haryana and fulfilling the aspirations of its youth by working at greater speed and scale. He pointed to the development projects launched today as a testament to this commitment and extended his congratulations to the people of Haryana for these new development initiatives.

    Expressing pride in his government’s commitment to advancing the vision of Babasaheb Ambedkar, Shri Modi highlighted Babasaheb’s belief that industrial development was a pathway to social justice. He noted that Babasaheb identified the issue of small landholdings in India and emphasized that Dalits, lacking sufficient agricultural land, would benefit the most from industrialization. He shared Babasaheb’s vision that industries would provide greater employment opportunities for Dalits, improving their standard of living. He also acknowledged Babasaheb’s significant role in India’s industrialization efforts, working alongside the country’s first Industry Minister, Dr. Syama Prasad Mukherjee, to drive progress in this direction.

    Remarking that the synergy between industrialization and manufacturing was also recognized by Deenbandhu Chaudhary Chhotu Ram Ji as the foundation for rural prosperity, the Prime Minister highlighted Chhotu Ram Ji’s belief that true prosperity in villages would come when farmers enhance their income through small industries alongside agriculture. He further noted that Chaudhary Charan Singh Ji, who dedicated his life to the welfare of villages and farmers, shared a similar vision, emphasizing Charan Singh Ji’s perspective that industrial development should complement agriculture, as both are pillars of the economy.

    Emphasising that the essence of ‘Make in India’ and ‘Aatmanirbhar Bharat’ lies in fostering manufacturing, Shri Modi underscored the government’s focus on manufacturing, as reflected in this year’s budget announcement of ‘Mission Manufacturing’. “The mission aims to create maximum employment opportunities for Dalit, backward, underprivileged, and marginalized youth, provide them with essential training, reduce business costs, strengthen the MSME sector, equip industries with modern technology, and ensure Indian products are world-class”, he stated. Underscoring the importance of uninterrupted power supply to achieve these goals and highlighting the significance of today’s event, he announced the commencement of work on the third unit of the Deenbandhu Chaudhary Chhotu Ram Thermal Power Plant, which will benefit Yamunanagar and Haryana. The Prime Minister noted that Yamunanagar produces half of India’s plywood and is a hub for manufacturing aluminum, copper, and brass utensils. He added that petrochemical plant equipment from Yamunanagar is exported to several countries. He emphasized that increased power production will benefit these industries and support ‘Mission Manufacturing’.

    Underlining the critical role of electricity in building a developed India, the Prime Minister highlighted the government’s multifaceted efforts to enhance power availability, including initiatives like One Nation-One Grid, new coal power plants, solar energy projects, and the expansion of the nuclear sector. “Increasing electricity production is essential to ensure that power shortages do not hinder nation-building”, he stressed recalling the frequent blackouts before 2014 under previous dispensation’s rule, stating that such crises would have persisted if Congress had remained in power. He noted that during those times, factories, railways, and irrigation systems were severely affected. He shared that over the past decade, India has nearly doubled its electricity production capacity and now exports power to neighboring countries. He highlighted the benefits of their government’s focus on electricity production for Haryana, which currently generates 16,000 MW of power. He also announced the goal of increasing this capacity to 24,000 MW in the coming years.

    Highlighting the government’s dual approach of investing in thermal power plants while empowering citizens to become power generators themselves, Shri Modi mentioned the launch of the PM Suryagarh Muft Bijli Yojana, enabling individuals to install solar panels on their rooftops, eliminate electricity bills, and even earn by selling surplus power. He noted that over 1.25 crore people across the country have registered under this scheme, with lakhs from Haryana applying to join. He expressed satisfaction with the scheme’s expansion, which is fostering a growing service ecosystem. He emphasized that the solar sector is creating new skills, generating opportunities for MSMEs, and opening numerous avenues for youth employment.

    Prime Minister underscored the government’s focus on ensuring adequate electricity and financial resources for small industries in smaller towns. He mentioned that during the COVID-19 pandemic, the government provided financial assistance worth lakhs of crores to support MSMEs. He further said that the definition of MSMEs has been revised to allow small industries to expand without fear of losing government support as they grow, while mentioning the introduction of special credit cards for small industries and an increase in credit guarantee coverage. He noted the recent 10-year milestone of the Mudra Yojana, under which ₹33 lakh crore in collateral-free loans have been disbursed. He emphasized that over 50% of the beneficiaries of this scheme are from SC, ST, and OBC families. He expressed the government’s commitment to enabling small industries to fulfill the big dreams of India’s youth.

    Lauding the hard work of Haryana’s farmers, which contributes to every Indian’s plate, the Prime Minister emphasized that the governments at Center and state stands as a steadfast partner in the joys and challenges of farmers. He highlighted efforts to empower Haryana’s farmers, noting that the state government now procures 24 crops at MSP. He shared that lakhs of farmers in Haryana have benefited from the PM Fasal Bima Yojana, with claims exceeding ₹9,000 crore under the scheme. Additionally, he mentioned that ₹6,500 crore has been disbursed to Haryana’s farmers through the PM Kisan Samman Nidhi, further supporting their livelihoods and growth.

    Underlining the Haryana government’s decision to abolish the colonial-era water tax, relieving farmers from paying taxes on canal water, Shri Modi noted that over ₹130 crore in outstanding dues under this tax have also been waived. He emphasized the efforts of the Union and state government in providing new income opportunities for farmers and livestock owners. He mentioned the Gobardhan Yojana, which enables farmers to manage waste and generate income by producing biogas from cow dung, agricultural residues, and other organic waste. He shared that this year’s budget includes the announcement of 500 Gobardhan plants across the country. He highlighted the foundation stone laying of a new Gobardhan plant in Yamunanagar, which will save ₹3 crore annually for the municipal corporation. “Gobardhan Yojana is also contributing to the Swachh Bharat Abhiyan, furthering the mission of cleanliness and sustainability”, he further said.

    Prime Minister underlined Haryana’s rapid progress on the path of development, mentioning his earlier visit to Hisar, where direct flight services to Ayodhya Dham were inaugurated. He also announced the new bypass for Rewari, which will ease traffic congestion in markets, intersections, and railway crossings, allowing vehicles to bypass the city smoothly. He noted that the four-lane bypass will reduce travel time between Delhi and Narnaul by an hour and congratulated the people on this achievement. 

    Emphasising that for them, politics is a medium of service—service to the people and the nation, Shri Modi stated, “our party delivers on its promises, as evident in Haryana”, where the government is fulfilling commitments made after being elected for the third term. He contrasted this with opposition-ruled states, citing betrayal of public trust. He pointed to the struggles faced by people in Himachal Pradesh, where development and welfare projects have stalled. In Karnataka, he highlighted rising costs of essentials like electricity, milk, bus fares, and seeds under current dispensation’s rule. He mentioned public dissatisfaction with the incumbent government in Karnataka, as seen on social media, and noted allegations of corruption, with even close associates of the Chief Minister acknowledging Karnataka’s ranking as number one in corruption.

    Shri Modi criticized the current government in Telangana for neglecting its promises to the people and focusing on bulldozing forests, causing harm to nature and wildlife. He contrasted two models of governance and described his party’s model as genuine and dedicated to building a developed India, while the opposition’s as deceitful and focused solely on power. He highlighted the ongoing efforts in Yamunanagar as an example of his party’s commitment to progress.

    Reflecting on the significance of Baisakhi and the 106th anniversary of the Jallianwala Bagh massacre, the Prime Minister honored the memory of the patriots who sacrificed their lives and highlighted the cruelty of the British regime. He emphasized another aspect of the massacre—the unwavering spirit of standing for humanity and the nation, exemplified by Shri Shankaran Nair. He further shared that Shankaran Nair, a renowned lawyer and high-ranking official in the British government, chose to resign and raise his voice against the atrocities of foreign rule. He fought the Jallianwala Bagh case single-handedly, shaking the foundations of the British Empire and holding it accountable in court. He described Shankaran Nair’s actions as a remarkable example of “Ek Bharat, Shreshtha Bharat,” showcasing how a man from Kerala stood against British power for a massacre in Punjab. He remarked that this spirit of unity and resistance was the true inspiration behind India’s freedom struggle and remains a driving force in the journey toward a developed India.

    The Prime Minister concluded by urging everyone to learn about Shankaran Nair’s contributions and emphasized the Union and state governments continuous efforts to empower the pillars of society—poor, farmers, youth, and women. He expressed confidence that collective efforts will lead Haryana toward development.

    The Chief Minister of Haryana, Shri Nayab Singh Saini, Union Ministers, Shri Manohar Lal, Shri Rao Inderjit Singh, Shri Krishan Pal Gurjar were present among other dignitaries at the event.

    Background

    Boosting power infrastructure in the region along with the vision of electricity reaching the last mile, Prime Minister laid the foundation stone of 800 MW modern thermal power unit of Deenbandhu Chhotu Ram Thermal Power Plant at YamunaNagar. This unit, spread across 233 acres, worth around Rs 8,470 crore, will significantly boost Haryana’s energy self-sufficiency and provide uninterrupted power supply across the state.

    Taking forward the vision of GOBARDhan, i.e. Galvanising Organic Bio-Agro Resources Dhan, Prime Minister also laid the foundation stone of a Compressed Biogas Plant in Mukarabpur, in YamunaNagar. The plant will have an annual production capacity of 2,600 metric tonnes and will help in effective organic waste management, while contributing to clean energy production and environmental conservation.

    Prime Minister also inaugurated the 14.4 km Rewari Bypass project, worth around Rs 1,070 crore under the Bharatmala Pariyojana. It will decongest Rewari city, reduce Delhi–Narnaul travel time by around one hour, and boost economic and social activity in the region.

     

     

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    MJPS/SR

    (Release ID: 2121577) Visitor Counter : 59

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Industry Stakeholders Should Embrace Sustainability and Set Global Benchmarks:Shri Goyal

    Source: Government of India

    Industry Stakeholders Should Embrace Sustainability and Set Global Benchmarks:Shri Goyal

    Union Minister of Commerce & Industry Shri PiyushGoyal addresses CAPEXIL’s Vibrant Buildcon 2025

    Posted On: 13 APR 2025 12:21PM by PIB Delhi

    Union Minister of Commerce & Industry, Shri PiyushGoyal addressed the CAPEXIL’s Vibrant Buildcon 2025 here today. He asked industry stakeholders to adopt best practices in sustainability, reduce import dependency, focus on clean and green construction, and work towards earthquake-resistant and modular infrastructure.

    Shri Goyal highlighted India’s growing strength in the construction ecosystem—from Global Capability Centres (GCCs) to domestic manufacturing under Make in India. He underlined the importance of key sectors such as housing, infrastructure, commercial real estate, railways, airports, highways, and energy. “Every element, from cement and electricals to security systems and automation, plays a part in this ecosystem,” he said.

    Shri Goyal said the rapid infrastructure development has happened under the leadership of the Prime Minister. “PM Modi conceptualised world-class convention centres like Bharat Mandapam and Yashobhoomi, both of which were built during the pandemic. These state-of-the-art venues have hosted global events such as the G20 Summit, BharatTex, Bharat Mobility and Startup Mahakumbh,” he pointed out.

    The Minister listed several major government initiatives, including 20 new smart industrial cities, improved tourism infrastructure across 50 destinations, and 100 new industrial plug-and-play hubs. “If we are to move from a $4 trillion economy today to a $30-35 trillion economy by 2047, every citizen must contribute to Viksit Bharat 2047,” he said.

    Commerce and Industry Minister noted that today India is breaking silos, fostering collaboration, and reimagining the future with a convergence of minds. “Vibrant Buildcon is only the beginning of the transformation of our construction ecosystem under one umbrella,” Shri Goyal said.

    Greeting the gathering on the occasion of Baisakhi, the Union Minister talked about the role of farmers during the COVID-19 pandemic. He stated that despite global disruptions, India ensured uninterrupted food distribution, month after month, under the leadership ofPrime Minister Shri Narendra Modi. “Even during the peak of the pandemic, India continued its mission of feeding the poor and bringing millions out of deprivation,” he noted.

    Drawing a connection between India’s food security and infrastructure growth, Shri Goyal said that Vibrant Buildcon exemplifies the country’s ability to support rapid urbanisation, housing for all, and logistics transformation. “This platform showcases our manufacturing and infrastructure strength, which is crucial to attract global investments and reduce logistics cost,” he added.

    In conclusion, Shri Goyalemphasised India’s potential to emerge as a global superpower. “We must aim for audacious goals, ensure our labour force receives fair wages, and innovate continuously. Let there be no doubt—India will lead the world in growth, innovation, and inclusive development,” he said.

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    Abhishek Dayal/ Nihi Sharma/ Ishita Biswas

    (Release ID: 2121403) Visitor Counter : 160

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: DEP attends seminar by Ministry of Ecology and Environment in Beijing (with photos)

    Source: Hong Kong Government special administrative region

    The Director of Environmental Protection, Dr Samuel Chui, began his visit in Beijing on April 10 and called on the Ministry of Ecology and Environment (MEE) yesterday (April 11). 

    Dr Chui was invited to attend the first session of the 2025 “Science, Culture, and Literacy” Lecture Series organised by the MEE to deliver a keynote presentation. The Minister of MEE, Mr Huang Runqiu, also attended the seminar.

    The presentation, titled “Smart Environmental Governance Strategies and Practices of the Hong Kong Special Administrative Region Government,” highlighted the successful application of sewage surveillance and real-time forecasting models to assist in pandemic control efforts, practice cases of Hong Kong’s innovation in pollution control by utilising smart technologies, and the two latest developed technological applications by the Environmental Protection Department, the biological water quality indicator “Phytoplankton Community Integrity Index” and the risk-based composite index for evaluating overall air quality status.

    Participants unanimously agreed that the successful scientific pollution control practices introduced during the seminar provided valuable references for kick-starting ecological and environmental protection efforts. They should study and learn from these practices to further enhance the awareness and capacity of applying scientific thinking and methods to improve environmental quality, better promoting pollution control in a precise, scientific, and law-based manner.

    The seminar was held in a hybrid format, combining online and offline participation. The Vice Minister of MEE, Mr Yu Huiwen; the Chief Inspector of the Central Commission for Discipline Inspection Inspector’s Office, Mr Liao Xiyuan; and Vice Minister of MEE, Mr Dong Baotong also attended the event.

    The Chief Engineer of MEE, Mr Ren Yong, chaired the seminar. Key personnel and administration of State Committee of Supervisory (SSC) Supervisor’s Office, Ministry’s various departments, the Environmental Emergency and Accident Investigation Center and Agency Service Center attended the event in person at the main venue. Other staff from the SSC Supervisor’s Office, Ministry’s various departments and the affiliated institutes joined from sub-venues or virtually.

    During his visit to Beijing, Dr Chui also attended the 23rd China International Environmental Protection Exhibition and Conference. He met with representatives from the BRI International Green Development Coalition and the Research Center for Eco-Environmental Sciences of the Chinese Academy of Sciences to explore collaboration on environmental technologies, aiming to jointly achieve the goal of high-quality green and sustainable development under the Belt and Road Initiative.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: New Fanling On Lok Mun Street Playground opens today (with photos)

    Source: Hong Kong Government special administrative region

         The reprovisioned On Lok Mun Street Playground in Fanling opened today (April 12), providing the public with a variety of extreme sports facilities that meet international standards.

         The new On Lok Mun Street Playground covers an area of over 3 800 square metres, containing a skatepark of some 1 600 sq m that features extreme sports facilities, including a bowl course and a street course, suitable for players of different skill levels to practise tricks. As certified by World Skate, the bowl and street facilities are of international standards. The playground is designed and constructed by the Civil Engineering and Development Department, and is managed by the Leisure and Cultural Services Department (LCSD).

         Speaking at the opening ceremony, the Director of Civil Engineering and Development, Mr Michael Fong, said that the reprovisioning and upgrading of the On Lok Mun Street Playground was undertaken in active response to the growing popularity of skateboarding following the Tokyo Olympics and the community’s aspirations for facilities meeting international standards. He noted that the new venue was designed and constructed to align with international standards and has successfully obtained certification from World Skate.

    Mr Fong added that the project team overcame challenges during implementation, including adjustment of works sequence to accommodate the construction of the Fanling Bypass Eastern Section and the impacts from the COVID-19 pandemic. Adhering to a ‘people-first’ principle, the team maintained close communication with community stakeholders, provided a temporary practice venue, and employed innovative construction methods and meticulous craftsmanship to successfully complete the skatepark.
     
         At the opening ceremony, a total of 12 professional extreme sports athletes from different regions gave impressive demonstrations. Amongst them are the World Skate Asia Scooter Technical Committee member, Ma Xiangyu, who is from Mainland China; Cheng Tze-wang, who has represented Hong Kong to participate in many overseas aggressive inline skating competitions; and Soichiro Kanashima, who is a Japanese professional aggressive inline skater.

         The original On Lok Mun Street Playground was demolished in February 2023 to facilitate the implementation of the Fanling Bypass (Eastern Section) project. It has been reprovisioned at a site about 150 metres north of the original site, with the entrance on the Lung Yeuk Tau section of Sha Tau Kok Road, near the North District Temporary Wholesale Market for Agricultural Products. In addition to its extreme sports facilities, the playground is also equipped with toilets and changing rooms, arbours and garden benches.

         The opening hours of the playground are from 8am to 10pm daily, while the opening hours of the skatepark may be adjusted due to weather conditions. The skatepark will be closed from 8am to noon on the first and third Mondays of each month for regular maintenance. Those who plan to visit the playground can take a minibus to the Wo Mun Street Minibus Terminus at Luen Wo Hui, followed by a roughly 10-minute walk through Luen Wo Hui Community Hall, or take a bus or minibus to Lung Yeuk Tau and then walk for about five minutes to the venue.

         For any enquiries, please contact the North District Leisure Services Office of the LCSD at 2679 2819 or visit the LCSD website (www.lcsd.gov.hk/en/index.html).

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Strongmen, Daggy Dads and State Daddies: how different styles of political masculinity play into Australian elections

    Source: The Conversation (Au and NZ) – By Blair Williams, Lecturer in Australian Politics, Monash University

    Australian politics has historically been a male domain with an overwhelmingly masculine culture. Manhood and a certain kind of masculinity are still considered integral to a leader’s political legitimacy.

    Yet leadership masculinity changes along party lines. We are now halfway through the election campaign and can already see differences in the masculine performances of Prime Minister Anthony Albanese and Opposition Leader Peter Dutton.

    State Daddy versus Strongman Tough Cop

    In a recent open-access study, I identified the emergence of two Australian political masculinities during the COVID-19 pandemic.

    First, the traditional “Daggy Dad” of former Liberal prime minister Scott Morrison, centred around the nuclear family and paternalistic protection.

    Second, the “State Daddy”, embodied by Labor leaders such as Albanese, who perform a more compassionate masculinity focused on social provision. In the 2022 election, Albanese effectively used his caring masculinity against Morrison’s faltering protective paternalism, highlighting many of Morrison’s weaknesses and especially his unpopularity with women.

    The 2025 election is shaping up to be another “gender election”, this time between the State Daddy and the Strongman Tough Cop.

    Albanese and Dutton’s adoption of certain masculine identities reveals not only how they want to be perceived but also how they envision the electorate, the nation, and its defining values.

    Dutton is a “tough-nut” conservative who portrays himself as a “strongman” protector. His leadership masculinity combines that of several other Liberal leaders, notably John Howard. But his conservatism is more reactionary, focusing less on economics and more on stoking culture wars.

    Like Tony Abbott, he is a pugilistic opposition leader who promises to keep Australians safe while reinforcing fear and uncertainty. Following Morrison’s lead, Dutton also targets outer-suburban electorates that traditionally vote Labor.

    His plan is to tap into voters’ anxiety and offer his “strongman” masculinity as its antidote. Since becoming leader, Dutton has frequently attempted to emasculate Albanese, labelling him “weak”, “woke”, and too preoccupied with “elite” issues, such as the Voice Referendum, to tackle the cost-of-living crisis.

    Dutton positions himself as the traditional masculine protector of the nation. The mobilisation of fear of a threat, real or imagined, is core to this identity. Dutton vows to protect Australians by being tough on crime, immigration and “wokeness”.

    Yet his strongman persona and conservative policies do not resonate with women, who fear he will follow Trump’s lead on gutting Diversity, Equity and Inclusion (DEI) initiatives or cuts to the public service and rights to work from home.

    The strongman protective persona is aimed at men in the outer suburbs, especially those at risk of voting Labor.

    In contrast, Albanese’s State Daddy masculinity targets women over men and seeks to inspire hope, care, and a collective response. The focus is on issues of equality, embodying a caring masculinity to rival traditional conservative masculine identities.

    Physical attractiveness is integral to the State Daddy image. For example, before the 2022 election, Albanese underwent what is colloquially termed a “glow up”.

    Seeking to appeal to the female gaze, he gave an “at home” interview for The Australian Women’s Weekly. These images are a useful tool for State Daddies for two reasons. First, to physically differentiate them from the dishevelled look preferred by conservative political leaders, such as Morrison, Boris Johnson or Donald Trump. Second, to visually signal their commitment to women voters.

    Both the Daggy Dad and Strongman Tough Cop often fall short. They claim to provide financial and physical protection to citizens, but only in exchange for subordination to their masculine authority. These limitations are often exposed when it’s necessary to protect citizens during crises such as, in Morrison’s case, bushfires, flood or plague. This protector masculinity fundamentally fails to recognise citizens’ needs and exposes the empty rhetoric at the core of protectionism.

    Who can we see at the 2025 election?

    Albanese is a far less popular leader than he was in 2022, for many reasons. However, the ALP are again campaigning on boosting the care economy, with major commitments to health care, aged care, and childcare. These are primarily women-dominated industries that Dutton, like Morrison before him, has repeatedly failed to support and engage.

    In contrast, Dutton was forced into an embarrassing back-down on a promise to end work-from-home arrangements for public servants, 57% of whom are women.

    Distracting from the Coalition’s long-standing “women problem”— which in part cost them the 2022 election — Dutton has been implying that Albanese’s “wokeness” has left men behind.

    Taking a page from the Trump playbook, Dutton has appeared on podcasts targeting mainly male audiences. On one appearance, he made a pitch to young male voters, noting: “Young males feel disenfranchised [and] ostracised”. He sympathised with the “anti-woke revolution” and argued that young men are “fed up” with “woke” practices.

    Albanese, meanwhile, has appeared on podcasts targeting mainly women audiences, including Abbie Chatfield’s “It’s A Lot” or Cheek Media’s podcast. He spoke about Labor’s policies supporting women’s health in areas including endometriosis care, contraceptives and menopause.

    It’s clear that both leaders are targeting very different parts of the voter bloc, in policy platforms and social media strategies.

    Blair Williams 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. Strongmen, Daggy Dads and State Daddies: how different styles of political masculinity play into Australian elections – https://theconversation.com/strongmen-daggy-dads-and-state-daddies-how-different-styles-of-political-masculinity-play-into-australian-elections-252727

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Japan holds opening ceremony for Osaka Expo

    Source: China State Council Information Office

    The opening ceremony for the 2025 World Exposition is held in Osaka, Japan, April 12, 2025. [Photo/Xinhua]

    An opening ceremony was held on Saturday for the 2025 World Exposition in the western Japanese city of Osaka, a day before the global event opens its doors to the public.

    Dignitaries, including Emperor Naruhito and Prime Minister Shigeru Ishiba, attended the ceremony at the expo venue on Yumeshima, an artificial island in Osaka Bay.

    Under the theme “Designing Future Society for Our Lives,” the expo will run for six months, with more than 160 countries, regions and international organizations taking part.

    Addressing the ceremony, Ishiba said the expo “offers a platform for the people of the world to come together and exchange dialogue,” noting “the world, having overcome the coronavirus pandemic, now faces a crisis over many different divisions.”

    In his speech during the ceremony, Dimitri Kerkentzes, secretary-general of the Bureau International des Expositions, regarded Expo 2025 as a unique opportunity to reimagine a future society where lives are protected through advancements in public health and disaster readiness.

    Kerkentzes said human potential is empowered through education and technology, where connections between people and ideas foster a more inclusive and more prosperous world.

    The expo will open to the public at 9 a.m. local time on Sunday and run for 184 days until Oct. 13. The organizer is expecting a total of 28.2 million visitors, including more than 140,000 on the first day.

    The China Pavilion is also set to officially open on Sunday. 

    MIL OSI China News –

  • MIL-OSI China: Japan holds opening ceremony for Osaka Expo ahead of full public start

    Source: China State Council Information Office 3

    An opening ceremony was held on Saturday for the 2025 World Exposition in the western Japanese city of Osaka, a day before the global event opens its doors to the public.

    Dignitaries, including Emperor Naruhito and Prime Minister Shigeru Ishiba, attended the ceremony at the expo venue on Yumeshima, an artificial island in Osaka Bay.

    Under the theme “Designing Future Society for Our Lives,” the expo will run for six months, with more than 160 countries, regions and international organizations taking part.

    Addressing the ceremony, Ishiba said the expo “offers a platform for the people of the world to come together and exchange dialogue,” noting “the world, having overcome the coronavirus pandemic, now faces a crisis over many different divisions.”

    In his speech during the ceremony, Dimitri Kerkentzes, secretary-general of the Bureau International des Expositions, regarded Expo 2025 as a unique opportunity to reimagine a future society where lives are protected through advancements in public health and disaster readiness.

    Kerkentzes said human potential is empowered through education and technology, where connections between people and ideas foster a more inclusive and more prosperous world.

    The expo will open to the public at 9 a.m. local time on Sunday and run for 184 days until Oct. 13. The organizer is expecting a total of 28.2 million visitors, including more than 140,000 on the first day.

    The China Pavilion is also set to officially open on Sunday. 

    MIL OSI China News –

  • MIL-OSI USA: Pappas Denounces VA Decision to End Program Helping Veterans Stay in Their Homes

    Source: United States House of Representatives – Congressman Chris Pappas (D-NH)

    Congressman Chris Pappas (NH-01), member of the House Veterans’ Affairs Committee and Ranking Member of the Subcommittee on Economic Opportunity, joined House Veterans’ Affairs Committee Ranking Member Mark Takano (D-CA), Senate Veterans’ Affairs Committee Ranking Member Richard Blumenthal (D-CT), and Senate Banking, Housing, and Urban Development Committee Ranking Member Elizabeth Warren (D-MA) to press Department of Veterans Affairs (VA) Secretary Doug Collins to immediately reverse his decision to abruptly end the Veterans Affairs Servicing Purchase Program (VASP)—a VA program that helped veterans experiencing severe financial hardship avoid foreclosure and stay in their homes. 

    “On April 3, 2025, you abruptly announced the closure of the Veterans Affairs Servicing Purchase Program (VASP), leaving tens of thousands of veterans at risk for foreclosure…We write today to urge you to immediately reverse this decision, and avoid foreclosing on veterans who simply wish to keep paying their mortgage and keep their home,” wrote the lawmakers in a letter to VA Secretary Collins. “…VA is taking a misstep that will push thousands of veterans into foreclosure. This is cruel, wrong, and runs counter to the benefits earned by veterans as led by the VA Loan Guaranty office – which always seeks to use foreclosure as an absolute last resort.”

    Earlier this week, Pappas spoke out forcefully against the end of the VASP program during a House Veterans’ Affairs Subcommittee on Economic Opportunity markup. 

    The VASP program was created as a “last-resort” option for VA to use for eligible veterans and their family members following the expiration of pandemic programs coupled with rising interest rates, which increased the risk of default for thousands of veterans. Currently, VASP is the only program of last-resort that exists for veterans facing immediate foreclosure, which has helped over 17,000 veterans since the program launched in 2024. By not accepting any new veterans into the program after May 1, 2025, VA risks putting 80,000 veterans onto the streets and out of their homes.

    The lawmakers continued, “Furthermore, with the rising costs of housing and overall inflation, VA must ask itself: Is it more cost effective to allow veterans to lose their homes or help them? VA leaders, veterans service organizations, and housing organizations have all recently shared with Congress their concerns about ending VASP too soon…While past policies have assumed that veterans have been financially irresponsible for assuming mortgages they can’t afford, today’s financial and housing market puts veterans at risk of losing their homes in a much more vulnerable situation.”

    The lawmakers concluded: “Until better policy solutions are in place that provide for stronger underwriting, ending the VASP program abruptly will only harm veterans and their families. Congress, VA, and other stakeholders must work together and offer practical, cost-effective solutions that better serve veterans. Our veterans earned their home loan guarantee benefit, and they deserve a viable option to get back on track with payments and keep their homes.”

    Read the full letter here. 

    MIL OSI USA News –

  • MIL-OSI USA: Rosen, Colleagues Call on Small Business Administration to Mitigate Damage from Trump Tariffs to Small Businesses

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV), a member of the Senate Small Business and Entrepreneurship Committee, joined colleagues in a letter demanding that U.S. Small Business Administrator Kelly Loeffler take immediate action to address the impacts of Trump’s reckless tariff policies on small businesses. In Nevada, 99 percent of all businesses are small businesses, and tariffs are threatening their ability to stay afloat.
    “The situation is dire. From mom-and-pop restaurants unable to afford basic supplies like cooking oil to small manufacturers and high-tech startups struggling to afford the raw materials needed for innovation, small businesses across all sectors are facing the same crippling reality,” wrote the Senators. “As these costs rise, consumer confidence continues to plummet, and the economy stagnates. A survey by Small Business for America’s Future found that 71 percent of small businesses will need to increase prices to survive, but with consumer confidence at its lowest since the pandemic, many owners know their customers cannot afford higher prices. The tariffs, therefore, are not only increasing costs, but also are undermining the very demand from customers that small businesses rely on.”
    “Failure to act will not only jeopardize the livelihoods of small business owners but may also lead to long-term financial hardship for the 60 million workers employed by small business – especially those working paycheck to paycheck who cannot afford to be laid off or have jobs delayed or denied,” the Senators’ letter continued. “We urge you to take swift action to ameliorate the damage being inflicted on small businesses by the President’s tariff policies, combined with the chaos of cuts to federal services and investments that small businesses rely on. As a representative of millions of entrepreneurs who are on the brink of disaster and the voice of small businesses in the administration, you have an obligation to fight for their survival… America’s small businesses—and the workers they employ—are counting on you to take action before it is too late.”
    The full letter can be found HERE.
    Senator Rosen has been fighting back against President Trump’s reckless tariffs and the destructive impacts they’re having on Nevada’s economy. Earlier this week, Rosen led a letter demanding that Secretary of Commerce Howard Lutnick and President Donald Trump immediately reverse course on the sweeping tariffs that are devastating small businesses in Nevada and across the nation. Senator Rosen also recently took to the Senate floor to oppose President Trump’s tariffs and highlight a letter she received from a small business owner in Reno outlining the devastating impact these tariffs will have on his business. Senator Rosen also helped pass a Congressional resolution to reverse President Trump’s devastating tariffs on virtually all Canadian goods that have raised prices for families and hurt Nevada’s businesses and economy. Senator Rosen also sent a letter urging the Trump Administration to reverse course on imposing tariffs on Canada and Mexico to prevent housing prices from rising even further.

    MIL OSI USA News –

  • MIL-OSI China: Sichuan Airlines to launch first Chengdu-Madrid direct flight

    Source: People’s Republic of China – State Council News

    CHENGDU, April 11 — A new regular direct flight will be launched between Chengdu, capital of southwest China’s Sichuan Province, and Madrid, the capital of Spain, starting April 27.

    Sichuan Airlines will operate this route with four weekly round trips on Mondays, Wednesdays, Fridays and Sundays. This marks the airline’s first direct service to Spain, enhancing air connectivity between western China and Spain, according to the company.

    Flights will depart from Chengdu Tianfu International Airport at 1:40 a.m. Beijing Time, arriving in Madrid at 8:50 a.m. local time. Return flights will leave Madrid at 11:05 a.m. local time, landing in Chengdu at 5:00 a.m. Beijing Time the following day.

    The route will address the lack of direct post-pandemic flights from Chengdu to Spain, where travelers currently rely on transfers via Beijing, Shanghai or European hubs, said Sichuan Province Airport Group Co., Ltd.

    A megacity with over 21 million residents and part of the fast-growing Chengdu-Chongqing economic zone, Chengdu has strong ties with Spain, notably establishing an international friendly cooperation partnership with Madrid in September 2022. These ties extend across cultural and educational spheres — from thriving Spanish language programs at Sichuan University to growing local demand for Spanish wines in Chengdu’s vibrant market.

    MIL OSI China News –

  • MIL-OSI USA: California Restaurant Owner Sentenced for COVID-19 and Tax Fraud Schemes

    Source: US State of California

    A San Diego restaurant owner was sentenced today to 42 months in prison for schemes to defraud COVID-19 relief programs and filing false tax returns.

    According to court documents and evidence presented at trial, Leronce Suel was the majority owner of Rockstar Dough LLC and Chicken Feed LLC, both of which operated restaurants in the San Diego area, including Streetcar Merchants in the North Park neighborhood. He conspired with others to underreport over $1.7 million in gross receipts on Rockstar Dough’s 2020 corporate tax return and COVID-19 relief applications. Suel’s businesses fraudulently received $1,773,245 in COVID-related Paycheck Protection Program loans and Restaurant Revitalization Fund grants, two programs created to provide financial assistance to American suffering economic harm as a result of the COVID-19 pandemic.

    Suel and his co-conspirator misappropriated COVID-19 relief program funds by making substantial cash withdrawals from their business bank accounts, purchasing a home in Arkansas, and keeping more than $2.4 million in cash in Suel’s bedroom.

    Suel did not file timely tax returns for 2018 and 2019, despite being legally required to do so. On his 2020 through 2023 tax returns, Suel also did not report the income from his businesses including millions of dollars in cash he withdrew. Finally, in 2023, Suel filed false original and amended tax returns for multiple years, including personal tax returns for 2016 and 2017 that included false depreciable assets and business losses.

    In September 2024, Suel was convicted by a federal jury of wire fraud, conspiracy to commit wire fraud, tax evasion, conspiracy to defraud the United States, filing false tax returns, and failing to file tax returns. Following the convictions, Suel agreed to forfeit $1,466,918 in U.S. currency.

    In addition to this prison sentence, U.S. District Court Judge Ruth Bermudez Montenegro for the Southern District of California ordered Suel to pay approximately $1,773,245 in restitution to the Small Business Administration and forfeit $1,466,918. Restitution to IRS will be heard on June 6.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and U.S. Attorney Adam Gordon for the Southern District of California made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Julia Rugg of the Tax Division and Assistant U.S. Attorney Christopher Beeler for the Southern District of California prosecuted the case.

    MIL OSI USA News –

  • MIL-OSI Security: California Restaurant Owner Sentenced for COVID-19 and Tax Fraud Schemes

    Source: United States Attorneys General 8

    A San Diego restaurant owner was sentenced today to 42 months in prison for schemes to defraud COVID-19 relief programs and filing false tax returns.

    According to court documents and evidence presented at trial, Leronce Suel was the majority owner of Rockstar Dough LLC and Chicken Feed LLC, both of which operated restaurants in the San Diego area, including Streetcar Merchants in the North Park neighborhood. He conspired with others to underreport over $1.7 million in gross receipts on Rockstar Dough’s 2020 corporate tax return and COVID-19 relief applications. Suel’s businesses fraudulently received $1,773,245 in COVID-related Paycheck Protection Program loans and Restaurant Revitalization Fund grants, two programs created to provide financial assistance to American suffering economic harm as a result of the COVID-19 pandemic.

    Suel and his co-conspirator misappropriated COVID-19 relief program funds by making substantial cash withdrawals from their business bank accounts, purchasing a home in Arkansas, and keeping more than $2.4 million in cash in Suel’s bedroom.

    Suel did not file timely tax returns for 2018 and 2019, despite being legally required to do so. On his 2020 through 2023 tax returns, Suel also did not report the income from his businesses including millions of dollars in cash he withdrew. Finally, in 2023, Suel filed false original and amended tax returns for multiple years, including personal tax returns for 2016 and 2017 that included false depreciable assets and business losses.

    In September 2024, Suel was convicted by a federal jury of wire fraud, conspiracy to commit wire fraud, tax evasion, conspiracy to defraud the United States, filing false tax returns, and failing to file tax returns. Following the convictions, Suel agreed to forfeit $1,466,918 in U.S. currency.

    In addition to this prison sentence, U.S. District Court Judge Ruth Bermudez Montenegro for the Southern District of California ordered Suel to pay approximately $1,773,245 in restitution to the Small Business Administration and forfeit $1,466,918. Restitution to IRS will be heard on June 6.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and U.S. Attorney Adam Gordon for the Southern District of California made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Julia Rugg of the Tax Division and Assistant U.S. Attorney Christopher Beeler for the Southern District of California prosecuted the case.

    MIL Security OSI –

  • MIL-OSI USA: Justice Department Surpasses $12 Billion in Compensation to Crime Victims Since 2000

    Source: US State of North Dakota

    To commemorate the 2025 National Crime Victims’ Rights Week, the Department of Justice reaffirms its steadfast commitment to compensate crime victims with federally forfeited assets. The Justice Department’s Asset Forfeiture Program has surpassed $12 billion in compensation to crime victims.

    In fiscal year 2024 and the beginning of fiscal year 2025 alone, more than $735.3 million has been returned to victims of human trafficking; romance, investment, and healthcare fraud; business email compromise and government imposter schemes; drug diversion; and cryptocurrency-related thefts and frauds.

    “This extraordinary milestone demonstrates the effectiveness of the Asset Forfeiture Program in taking the profit out of crime and compensating victims,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “While the Criminal Division is deeply proud of these efforts, we recognize that crime victims often lose much more than money. We hope that victims, from exploited children to older Americans targeted by sophisticated criminal schemes, can move forward in their recovery through this compensation. This milestone was made possible by the Justice Department’s Money Laundering and Asset Recovery Section, which manages the Asset Forfeiture Program, U.S. Attorneys’ Offices across the country, and the many federal, state, local, and tribal law enforcement agencies that have dedicated their time and resources to these investigations.”  

    Recent cases in which victims were compensated for their losses with forfeited assets in 2024 or 2025 include:

    $4.3 Billion to Victims of Bernie Madoff

    United States v. Bernard L. Madoff (Southern District of New York)

    In December 2024, the Justice Department announced that the Madoff Victim Fund (MVF) would make its 10th and final distribution of over $131.4 million to victims of the Bernard L. Madoff fraud scheme. These funds were forfeited by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. Through its 10 distributions, MVF paid over $4.3 billion from forfeited funds to 40,930 victims in 127 countries for losses they suffered from the collapse of BLMIS, bringing recovery for victims to nearly 94% of their fraud loss. According to court documents and information presented in related proceedings, for decades, Madoff used his position as chairman of Bernard L. Madoff Investment Securities LLC, the investment advisory business he founded in 1960, to steal billions from his clients. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies, admitting that he had turned his wealth management business into the world’s largest Ponzi scheme, benefitting himself, his family, and select members of his inner circle.

    $420 Million to Victims of Fraud Schemes Facilitated by Western Union

    United States v. The Western Union Company (Middle District of Pennsylvania)

    In 2017, Western Union entered into a deferred prosecution agreement (DPA) with the United States. Pursuant to the DPA, Western Union acknowledged responsibility for its criminal conduct, which included violations of the Bank Secrecy Act and aiding and abetting wire fraud.  Western Union agreed to forfeit $586 million, which has been made available to compensate victims of the international consumer fraud scheme through the remission process. Western Union simultaneously resolved a parallel civil investigation with the Federal Trade Commission. To date, the Criminal Division has disbursed more than $420 million to approximately 175,000 victims.

    $8 Million Returned to Victims of Email Business Compromise Scams

    United States v. Olalekan Jacob Ponle (Northern District of Illinois)

    Olalekan Jacob Ponle worked with co-schemers to engage in numerous business email compromise schemes. The co-schemers used phishing links to gain unauthorized access to email accounts and then created false instructions directing employees of the victim companies to wire money to bank accounts opened by money mules at Ponle’s direction. After unwitting employees wired money, in some cases millions of dollars, to the bank accounts, Ponle instructed the money mules to convert the proceeds to Bitcoin and send them to him. As a result of Ponle’s scheme, victim companies suffered more than $8.03 million in actual losses. The government seized the Bitcoin, obtained a final order of forfeiture, liquidated the cryptocurrency, and used the proceeds to compensate the victims of Ponle’s fraud.

    $5.6 Million to the Small Business Administration

    United States v. Aydin Kalantarov, et al. (Northern District of Ohio)

    According to court documents, from May 2020 through October 2020, Aydin Kalantarov, along with his two brothers, Zaur Kalantarli and Ali Kalantarli, conspired to defraud the U.S. Small Business Association (SBA) of nearly $7 million in Economic Injury Disaster Loans (EIDL). As part of the scheme the brothers created 70 fictious Ohio corporations with agriculture sounding names. Once the fictitious corporations were created, the brothers submitted fraudulent EIDL loan applications to the SBA claiming that their business was adversely affected by the pandemic. The SBA funded 47 of the applications for a total of approximately $7 million. $5.6 million in forfeited funds was transferred to the clerk of the court for payment to the SBA.

    $2.28 Million Returned to Victims of Two Business Email Compromise Schemes

    United States v. Contents of TD Bank Account, Account Ending 7684, Held in the Name of O’Shane K. Malcolm, et al. (District of Connecticut)

    United States v. Contents of Truist Bank Account Ending 5792, Held in The Name of Quest Freight LLC (District of Connecticut)

    In the first scam, criminal actors compromised an email account associated with a member of the management team of a city’s Board of Education.  In June 2023, these actors created a fake email account that mimicked the email of a bus company that held a contract with the Board of Education for bussing. Using the fake bus company email address, the criminal actors then were able to change the bus company’s payment information from the real bus company to an account held by the criminal actors, and the city sent approximately $5.9 million dollars to the account.  The government successfully seized and forfeited approximately $1,187,691 of the stolen money, which was returned to the city through remission.

    The second forfeiture action involved a healthcare company that was a victim of a business email compromise (BEC) attack.  In April 2023, the company’s yearly medical malpractice insurance payment was set to be paid.  Shortly before the due date, the company received a fraudulent email, purportedly from its malpractice insurance company, with new wire instructions.  The company sent approximately $1,652,254 via a wire transfer using the newly provided instructions. The government successfully seized and forfeited approximately $1,100,694 remaining in the account, which was returned to the healthcare company through remissions.

    $328,500 to an Elderly Victim of a Computer Support Scam

    United States v. Discovery Bank Account Ending in 2237 (District of Connecticut)

    According to court documents, in February 2024, an elderly woman who was tricked by a computer support scheme that mimicked Microsoft customer support transferred approximately $550,000 to the scammers in two wire transfers. Within two days of the transfers, the victim and a family member reported the incident to a local police department, who then partnered with Homeland Security Investigations (HSI) to investigate the crime. Fortunately, one of the wire transfers, in the amount of $221,000, was reversed by the bank and returned to the victim. HSI traced the remaining money, totaling approximately $328,573, and seized it. The U.S. Attorney’s Office then filed a civil asset forfeiture action to forfeit the money to the government, and the U.S. Attorney’s Office and HSI then worked with the Department of Justice’s Money Laundering and Asset Recovery Section to return the money to the victim.

    $6.4 Million to the Internal Revenue Service

    United States v. Michael Little (Middle District of Florida)

    From 2019 to 2021, Michael Little filed a series of false tax returns claiming massive, bogus fuel tax credits. He filed the false returns in his own name and in the names of co-conspirators and identity theft victims. As a result of this scheme, Little and his co-conspirators obtained at least $12.3 million in fraudulent tax refunds and attempted to obtain at least $27 million more. Little and his co-conspirators also conspired to launder their ill-gotten gains and used significant portions of the fraudulent tax refunds to purchase real estate and other assets.  Over $6.4 million in forfeited funds were transferred to the clerk of court for payment to the IRS.

    $52,000 to a Survivor of Human Trafficking

    United States v. Thuy Tien Luong (Western District of North Carolina)

    Thuy Tien Luong was convicted of forced labor and ordered to serve 15 years in prison for compelling the labor of one of her nail technicians at a salon she owned and operated. From October 2016 to June 2018, Luong forced the survivor’s labor by, among other things, physically assaulting the survivor, threatening to ruin the survivor’s reputation with her family, and falsely claiming that the survivor owed Luong a fictitious debt. In addition to resulting in the return of funds seized from Luong to the Clerk of Court to pay the survivor, the case also resulted in the return to the survivor of a seized bracelet that Luong had held as “payment” towards the survivor’s fictitious debt.

    $6.3 Million Returned to Estate Victims of an Embezzlement Scheme

    United States v. Richard J. Sherwood, et al. (Northern District of New York)

    Starting in 2006, Richard J. Sherwood and Thomas K. Lagan provided estate planning and related legal services to Capital Region philanthropists Warren and Pauline Bruggeman, and to Pauline’s sister, Anne Urban, all of Niskayuna, New York.  They were advising the Bruggemans when, in 2006, the Bruggemans signed wills directing that all their assets go to churches, civic organizations, a local hospital, and a local university scholarship fund, aside from bequests to Urban and Julia Rentz, Pauline’s sisters.

    Warren Bruggeman died in April 2009, and Pauline died in August 2011. In each pleading guilty, Sherwood and Lagan admitted that they conspired to steal, and did steal, millions of dollars from Pauline Bruggeman’s estate as well as from the estate of Urban, who died in 2013. The co-conspirators admitted that they stole $11,831,563 and Sherwood also admitted that he transferred to himself the Bruggeman family camp located on Galway Lake, in Saratoga County.

    For additional information about the Department of Justice’s victim compensation program, please visit: Criminal Division | Victims.

    MIL OSI USA News –

  • MIL-OSI Security: Justice Department Surpasses $12 Billion in Compensation to Crime Victims Since 2000

    Source: United States Attorneys General 1

    To commemorate the 2025 National Crime Victims’ Rights Week, the Department of Justice reaffirms its steadfast commitment to compensate crime victims with federally forfeited assets. The Justice Department’s Asset Forfeiture Program has surpassed $12 billion in compensation to crime victims.

    In fiscal year 2024 and the beginning of fiscal year 2025 alone, more than $735.3 million has been returned to victims of human trafficking; romance, investment, and healthcare fraud; business email compromise and government imposter schemes; drug diversion; and cryptocurrency-related thefts and frauds.

    “This extraordinary milestone demonstrates the effectiveness of the Asset Forfeiture Program in taking the profit out of crime and compensating victims,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “While the Criminal Division is deeply proud of these efforts, we recognize that crime victims often lose much more than money. We hope that victims, from exploited children to older Americans targeted by sophisticated criminal schemes, can move forward in their recovery through this compensation. This milestone was made possible by the Justice Department’s Money Laundering and Asset Recovery Section, which manages the Asset Forfeiture Program, U.S. Attorneys’ Offices across the country, and the many federal, state, local, and tribal law enforcement agencies that have dedicated their time and resources to these investigations.”  

    Recent cases in which victims were compensated for their losses with forfeited assets in 2024 or 2025 include:

    $4.3 Billion to Victims of Bernie Madoff

    United States v. Bernard L. Madoff (Southern District of New York)

    In December 2024, the Justice Department announced that the Madoff Victim Fund (MVF) would make its 10th and final distribution of over $131.4 million to victims of the Bernard L. Madoff fraud scheme. These funds were forfeited by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. Through its 10 distributions, MVF paid over $4.3 billion from forfeited funds to 40,930 victims in 127 countries for losses they suffered from the collapse of BLMIS, bringing recovery for victims to nearly 94% of their fraud loss. According to court documents and information presented in related proceedings, for decades, Madoff used his position as chairman of Bernard L. Madoff Investment Securities LLC, the investment advisory business he founded in 1960, to steal billions from his clients. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies, admitting that he had turned his wealth management business into the world’s largest Ponzi scheme, benefitting himself, his family, and select members of his inner circle.

    $420 Million to Victims of Fraud Schemes Facilitated by Western Union

    United States v. The Western Union Company (Middle District of Pennsylvania)

    In 2017, Western Union entered into a deferred prosecution agreement (DPA) with the United States. Pursuant to the DPA, Western Union acknowledged responsibility for its criminal conduct, which included violations of the Bank Secrecy Act and aiding and abetting wire fraud.  Western Union agreed to forfeit $586 million, which has been made available to compensate victims of the international consumer fraud scheme through the remission process. Western Union simultaneously resolved a parallel civil investigation with the Federal Trade Commission. To date, the Criminal Division has disbursed more than $420 million to approximately 175,000 victims.

    $8 Million Returned to Victims of Email Business Compromise Scams

    United States v. Olalekan Jacob Ponle (Northern District of Illinois)

    Olalekan Jacob Ponle worked with co-schemers to engage in numerous business email compromise schemes. The co-schemers used phishing links to gain unauthorized access to email accounts and then created false instructions directing employees of the victim companies to wire money to bank accounts opened by money mules at Ponle’s direction. After unwitting employees wired money, in some cases millions of dollars, to the bank accounts, Ponle instructed the money mules to convert the proceeds to Bitcoin and send them to him. As a result of Ponle’s scheme, victim companies suffered more than $8.03 million in actual losses. The government seized the Bitcoin, obtained a final order of forfeiture, liquidated the cryptocurrency, and used the proceeds to compensate the victims of Ponle’s fraud.

    $5.6 Million to the Small Business Administration

    United States v. Aydin Kalantarov, et al. (Northern District of Ohio)

    According to court documents, from May 2020 through October 2020, Aydin Kalantarov, along with his two brothers, Zaur Kalantarli and Ali Kalantarli, conspired to defraud the U.S. Small Business Association (SBA) of nearly $7 million in Economic Injury Disaster Loans (EIDL). As part of the scheme the brothers created 70 fictious Ohio corporations with agriculture sounding names. Once the fictitious corporations were created, the brothers submitted fraudulent EIDL loan applications to the SBA claiming that their business was adversely affected by the pandemic. The SBA funded 47 of the applications for a total of approximately $7 million. $5.6 million in forfeited funds was transferred to the clerk of the court for payment to the SBA.

    $2.28 Million Returned to Victims of Two Business Email Compromise Schemes

    United States v. Contents of TD Bank Account, Account Ending 7684, Held in the Name of O’Shane K. Malcolm, et al. (District of Connecticut)

    United States v. Contents of Truist Bank Account Ending 5792, Held in The Name of Quest Freight LLC (District of Connecticut)

    In the first scam, criminal actors compromised an email account associated with a member of the management team of a city’s Board of Education.  In June 2023, these actors created a fake email account that mimicked the email of a bus company that held a contract with the Board of Education for bussing. Using the fake bus company email address, the criminal actors then were able to change the bus company’s payment information from the real bus company to an account held by the criminal actors, and the city sent approximately $5.9 million dollars to the account.  The government successfully seized and forfeited approximately $1,187,691 of the stolen money, which was returned to the city through remission.

    The second forfeiture action involved a healthcare company that was a victim of a business email compromise (BEC) attack.  In April 2023, the company’s yearly medical malpractice insurance payment was set to be paid.  Shortly before the due date, the company received a fraudulent email, purportedly from its malpractice insurance company, with new wire instructions.  The company sent approximately $1,652,254 via a wire transfer using the newly provided instructions. The government successfully seized and forfeited approximately $1,100,694 remaining in the account, which was returned to the healthcare company through remissions.

    $328,500 to an Elderly Victim of a Computer Support Scam

    United States v. Discovery Bank Account Ending in 2237 (District of Connecticut)

    According to court documents, in February 2024, an elderly woman who was tricked by a computer support scheme that mimicked Microsoft customer support transferred approximately $550,000 to the scammers in two wire transfers. Within two days of the transfers, the victim and a family member reported the incident to a local police department, who then partnered with Homeland Security Investigations (HSI) to investigate the crime. Fortunately, one of the wire transfers, in the amount of $221,000, was reversed by the bank and returned to the victim. HSI traced the remaining money, totaling approximately $328,573, and seized it. The U.S. Attorney’s Office then filed a civil asset forfeiture action to forfeit the money to the government, and the U.S. Attorney’s Office and HSI then worked with the Department of Justice’s Money Laundering and Asset Recovery Section to return the money to the victim.

    $6.4 Million to the Internal Revenue Service

    United States v. Michael Little (Middle District of Florida)

    From 2019 to 2021, Michael Little filed a series of false tax returns claiming massive, bogus fuel tax credits. He filed the false returns in his own name and in the names of co-conspirators and identity theft victims. As a result of this scheme, Little and his co-conspirators obtained at least $12.3 million in fraudulent tax refunds and attempted to obtain at least $27 million more. Little and his co-conspirators also conspired to launder their ill-gotten gains and used significant portions of the fraudulent tax refunds to purchase real estate and other assets.  Over $6.4 million in forfeited funds were transferred to the clerk of court for payment to the IRS.

    $52,000 to a Survivor of Human Trafficking

    United States v. Thuy Tien Luong (Western District of North Carolina)

    Thuy Tien Luong was convicted of forced labor and ordered to serve 15 years in prison for compelling the labor of one of her nail technicians at a salon she owned and operated. From October 2016 to June 2018, Luong forced the survivor’s labor by, among other things, physically assaulting the survivor, threatening to ruin the survivor’s reputation with her family, and falsely claiming that the survivor owed Luong a fictitious debt. In addition to resulting in the return of funds seized from Luong to the Clerk of Court to pay the survivor, the case also resulted in the return to the survivor of a seized bracelet that Luong had held as “payment” towards the survivor’s fictitious debt.

    $6.3 Million Returned to Estate Victims of an Embezzlement Scheme

    United States v. Richard J. Sherwood, et al. (Northern District of New York)

    Starting in 2006, Richard J. Sherwood and Thomas K. Lagan provided estate planning and related legal services to Capital Region philanthropists Warren and Pauline Bruggeman, and to Pauline’s sister, Anne Urban, all of Niskayuna, New York.  They were advising the Bruggemans when, in 2006, the Bruggemans signed wills directing that all their assets go to churches, civic organizations, a local hospital, and a local university scholarship fund, aside from bequests to Urban and Julia Rentz, Pauline’s sisters.

    Warren Bruggeman died in April 2009, and Pauline died in August 2011. In each pleading guilty, Sherwood and Lagan admitted that they conspired to steal, and did steal, millions of dollars from Pauline Bruggeman’s estate as well as from the estate of Urban, who died in 2013. The co-conspirators admitted that they stole $11,831,563 and Sherwood also admitted that he transferred to himself the Bruggeman family camp located on Galway Lake, in Saratoga County.

    For additional information about the Department of Justice’s victim compensation program, please visit: Criminal Division | Victims.

    MIL Security OSI –

  • MIL-OSI Security: Security News: Justice Department Surpasses $12 Billion in Compensation to Crime Victims Since 2000

    Source: United States Department of Justice 2

    To commemorate the 2025 National Crime Victims’ Rights Week, the Department of Justice reaffirms its steadfast commitment to compensate crime victims with federally forfeited assets. The Justice Department’s Asset Forfeiture Program has surpassed $12 billion in compensation to crime victims.

    In fiscal year 2024 and the beginning of fiscal year 2025 alone, more than $735.3 million has been returned to victims of human trafficking; romance, investment, and healthcare fraud; business email compromise and government imposter schemes; drug diversion; and cryptocurrency-related thefts and frauds.

    “This extraordinary milestone demonstrates the effectiveness of the Asset Forfeiture Program in taking the profit out of crime and compensating victims,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “While the Criminal Division is deeply proud of these efforts, we recognize that crime victims often lose much more than money. We hope that victims, from exploited children to older Americans targeted by sophisticated criminal schemes, can move forward in their recovery through this compensation. This milestone was made possible by the Justice Department’s Money Laundering and Asset Recovery Section, which manages the Asset Forfeiture Program, U.S. Attorneys’ Offices across the country, and the many federal, state, local, and tribal law enforcement agencies that have dedicated their time and resources to these investigations.”  

    Recent cases in which victims were compensated for their losses with forfeited assets in 2024 or 2025 include:

    $4.3 Billion to Victims of Bernie Madoff

    United States v. Bernard L. Madoff (Southern District of New York)

    In December 2024, the Justice Department announced that the Madoff Victim Fund (MVF) would make its 10th and final distribution of over $131.4 million to victims of the Bernard L. Madoff fraud scheme. These funds were forfeited by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. Through its 10 distributions, MVF paid over $4.3 billion from forfeited funds to 40,930 victims in 127 countries for losses they suffered from the collapse of BLMIS, bringing recovery for victims to nearly 94% of their fraud loss. According to court documents and information presented in related proceedings, for decades, Madoff used his position as chairman of Bernard L. Madoff Investment Securities LLC, the investment advisory business he founded in 1960, to steal billions from his clients. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies, admitting that he had turned his wealth management business into the world’s largest Ponzi scheme, benefitting himself, his family, and select members of his inner circle.

    $420 Million to Victims of Fraud Schemes Facilitated by Western Union

    United States v. The Western Union Company (Middle District of Pennsylvania)

    In 2017, Western Union entered into a deferred prosecution agreement (DPA) with the United States. Pursuant to the DPA, Western Union acknowledged responsibility for its criminal conduct, which included violations of the Bank Secrecy Act and aiding and abetting wire fraud.  Western Union agreed to forfeit $586 million, which has been made available to compensate victims of the international consumer fraud scheme through the remission process. Western Union simultaneously resolved a parallel civil investigation with the Federal Trade Commission. To date, the Criminal Division has disbursed more than $420 million to approximately 175,000 victims.

    $8 Million Returned to Victims of Email Business Compromise Scams

    United States v. Olalekan Jacob Ponle (Northern District of Illinois)

    Olalekan Jacob Ponle worked with co-schemers to engage in numerous business email compromise schemes. The co-schemers used phishing links to gain unauthorized access to email accounts and then created false instructions directing employees of the victim companies to wire money to bank accounts opened by money mules at Ponle’s direction. After unwitting employees wired money, in some cases millions of dollars, to the bank accounts, Ponle instructed the money mules to convert the proceeds to Bitcoin and send them to him. As a result of Ponle’s scheme, victim companies suffered more than $8.03 million in actual losses. The government seized the Bitcoin, obtained a final order of forfeiture, liquidated the cryptocurrency, and used the proceeds to compensate the victims of Ponle’s fraud.

    $5.6 Million to the Small Business Administration

    United States v. Aydin Kalantarov, et al. (Northern District of Ohio)

    According to court documents, from May 2020 through October 2020, Aydin Kalantarov, along with his two brothers, Zaur Kalantarli and Ali Kalantarli, conspired to defraud the U.S. Small Business Association (SBA) of nearly $7 million in Economic Injury Disaster Loans (EIDL). As part of the scheme the brothers created 70 fictious Ohio corporations with agriculture sounding names. Once the fictitious corporations were created, the brothers submitted fraudulent EIDL loan applications to the SBA claiming that their business was adversely affected by the pandemic. The SBA funded 47 of the applications for a total of approximately $7 million. $5.6 million in forfeited funds was transferred to the clerk of the court for payment to the SBA.

    $2.28 Million Returned to Victims of Two Business Email Compromise Schemes

    United States v. Contents of TD Bank Account, Account Ending 7684, Held in the Name of O’Shane K. Malcolm, et al. (District of Connecticut)

    United States v. Contents of Truist Bank Account Ending 5792, Held in The Name of Quest Freight LLC (District of Connecticut)

    In the first scam, criminal actors compromised an email account associated with a member of the management team of a city’s Board of Education.  In June 2023, these actors created a fake email account that mimicked the email of a bus company that held a contract with the Board of Education for bussing. Using the fake bus company email address, the criminal actors then were able to change the bus company’s payment information from the real bus company to an account held by the criminal actors, and the city sent approximately $5.9 million dollars to the account.  The government successfully seized and forfeited approximately $1,187,691 of the stolen money, which was returned to the city through remission.

    The second forfeiture action involved a healthcare company that was a victim of a business email compromise (BEC) attack.  In April 2023, the company’s yearly medical malpractice insurance payment was set to be paid.  Shortly before the due date, the company received a fraudulent email, purportedly from its malpractice insurance company, with new wire instructions.  The company sent approximately $1,652,254 via a wire transfer using the newly provided instructions. The government successfully seized and forfeited approximately $1,100,694 remaining in the account, which was returned to the healthcare company through remissions.

    $328,500 to an Elderly Victim of a Computer Support Scam

    United States v. Discovery Bank Account Ending in 2237 (District of Connecticut)

    According to court documents, in February 2024, an elderly woman who was tricked by a computer support scheme that mimicked Microsoft customer support transferred approximately $550,000 to the scammers in two wire transfers. Within two days of the transfers, the victim and a family member reported the incident to a local police department, who then partnered with Homeland Security Investigations (HSI) to investigate the crime. Fortunately, one of the wire transfers, in the amount of $221,000, was reversed by the bank and returned to the victim. HSI traced the remaining money, totaling approximately $328,573, and seized it. The U.S. Attorney’s Office then filed a civil asset forfeiture action to forfeit the money to the government, and the U.S. Attorney’s Office and HSI then worked with the Department of Justice’s Money Laundering and Asset Recovery Section to return the money to the victim.

    $6.4 Million to the Internal Revenue Service

    United States v. Michael Little (Middle District of Florida)

    From 2019 to 2021, Michael Little filed a series of false tax returns claiming massive, bogus fuel tax credits. He filed the false returns in his own name and in the names of co-conspirators and identity theft victims. As a result of this scheme, Little and his co-conspirators obtained at least $12.3 million in fraudulent tax refunds and attempted to obtain at least $27 million more. Little and his co-conspirators also conspired to launder their ill-gotten gains and used significant portions of the fraudulent tax refunds to purchase real estate and other assets.  Over $6.4 million in forfeited funds were transferred to the clerk of court for payment to the IRS.

    $52,000 to a Survivor of Human Trafficking

    United States v. Thuy Tien Luong (Western District of North Carolina)

    Thuy Tien Luong was convicted of forced labor and ordered to serve 15 years in prison for compelling the labor of one of her nail technicians at a salon she owned and operated. From October 2016 to June 2018, Luong forced the survivor’s labor by, among other things, physically assaulting the survivor, threatening to ruin the survivor’s reputation with her family, and falsely claiming that the survivor owed Luong a fictitious debt. In addition to resulting in the return of funds seized from Luong to the Clerk of Court to pay the survivor, the case also resulted in the return to the survivor of a seized bracelet that Luong had held as “payment” towards the survivor’s fictitious debt.

    $6.3 Million Returned to Estate Victims of an Embezzlement Scheme

    United States v. Richard J. Sherwood, et al. (Northern District of New York)

    Starting in 2006, Richard J. Sherwood and Thomas K. Lagan provided estate planning and related legal services to Capital Region philanthropists Warren and Pauline Bruggeman, and to Pauline’s sister, Anne Urban, all of Niskayuna, New York.  They were advising the Bruggemans when, in 2006, the Bruggemans signed wills directing that all their assets go to churches, civic organizations, a local hospital, and a local university scholarship fund, aside from bequests to Urban and Julia Rentz, Pauline’s sisters.

    Warren Bruggeman died in April 2009, and Pauline died in August 2011. In each pleading guilty, Sherwood and Lagan admitted that they conspired to steal, and did steal, millions of dollars from Pauline Bruggeman’s estate as well as from the estate of Urban, who died in 2013. The co-conspirators admitted that they stole $11,831,563 and Sherwood also admitted that he transferred to himself the Bruggeman family camp located on Galway Lake, in Saratoga County.

    For additional information about the Department of Justice’s victim compensation program, please visit: Criminal Division | Victims.

    MIL Security OSI –

  • MIL-OSI United Nations: 11 April 2025 Departmental update Malaria progress in jeopardy amid foreign aid cuts

    Source: World Health Organisation

    Since 2000, investments in the global malaria response have prevented more than 2 billion cases and nearly 13 million deaths. Yet efforts to control and eliminate malaria are in jeopardy as communities and programmes face the fallout of recent funding cuts.

    Malaria is preventable and curable – but without prompt diagnosis and treatment, it can rapidly escalate to severe illness and death, particularly among young children and pregnant women. In 2023 alone, malaria claimed nearly 600 000 lives, with an estimated 95% of these deaths occurring in the WHO African Region.[1]

    The 2025 funding cuts to malaria programmes put millions of additional lives at risk and could reverse decades of progress earned, in part, through longstanding investments from the United States of America and other global partners. ​ Between 2010 and 2023, the USA contributed an average of 37% of global malaria financing through both bilateral and multilateral channels.[2]  

    The recent experience of the COVID-19 pandemic showed that sudden interruptions to malaria service delivery can be deadly. In 2020, COVID-related disruptions to the provision of malaria prevention, diagnosis and treatment led to an estimated 14 million more malaria cases and an additional 47 000 deaths.[3]  

    “History has shown us what happens if we let down our guard against malaria,” cautions Dr Daniel Ngamije, Director of the WHO Global Malaria Programme. “In 1969, the global eradication effort was abandoned, triggering a resurgence in cases and deaths. It took nearly 30 years for world leaders to come together and restore momentum.”

    Although funding for some USA-supported malaria programmes has been reinstated, the disruptions have left critical gaps. Without the rapid delivery of prevention and treatment services to at-risk populations, the consequences could be fatal.  

    Findings of rapid WHO survey

    The impact is being felt across the health sector. Of the 108 WHO country offices that took part in a recent WHO survey, nearly three quarters reported severe disruptions to health services following the pause in overseas development assistance (ODA).

    Responses from country offices suggest that budget cuts are already translating into increased out-of-pocket payments for patients, with the poor and vulnerable likely to carry the heaviest financial burden. The survey highlighted job losses for health and care workers as well as disruptions to information systems and to the supply of medicines and health products.

    Reponses to malaria have been particularly affected. Of the 64 malaria-endemic countries surveyed, more than half reported moderate or severe disruptions to malaria services.

    Impact of funding shortfall highlighted at WHO advisory committee meeting

    Further information was shared in this week’s WHO Malaria Policy Advisory Group (MPAG) meeting, held from 8–10 April. MPAG members heard updates on current challenges and priority actions taken by countries and their global partners to respond to immediate funding shortfalls.

    Insecticide-treated nets (ITNs) have been a cornerstone of malaria prevention efforts in Africa over the past 2 decades. By early April 2025, more than 40% of planned ITN distribution campaigns designed to reach 425 million people were either delayed or at risk of being derailed, according to data provided by national malaria programmes.

    Nearly 30% of seasonal malaria chemoprevention (SMC) campaigns to protect 58 million children were also off track. In many African countries, stocks of rapid diagnostic tests and medicines have reached critically low levels.

    Reductions in funding also threaten to undermine critical investments in scientific innovation, including in new and improved preventive, diagnostic and treatment interventions as well as in new tools to address drug and insecticide resistance.

    “We must not allow funding setbacks to derail the global malaria agenda,” noted Dr Jérôme Salomon, WHO Assistant Director-General, in his opening remarks at MPAG. “We urge all stakeholders to sustain their commitments, safeguard national plans, and coordinate adaptation strategies in response to the shifting funding landscape.”

    Country leadership and partner support critical to response

    In Nigeria, lawmakers have approved an additional US$ 200 million for the health sector as part of a 2025 spending plan – an effort to mitigate the impact of the recent suspension of USA foreign aid.[4]  Across Africa, other countries are strengthening coordination mechanisms and taking steps to close critical gaps through the use of domestic resources.

    WHO and partners remain committed to supporting national governments and civil society in securing sustained funding and delivering integrated solutions to protect those most at risk. Achieving resilient and self-financed health systems will require increased domestic investment in health and a strategic use of available resources to maximize impact.

    “This is the moment for data-driven decision making – for ensuring every dollar is used wisely,” said Dr Dyann Wirth, MPAG Chair. “People and communities already facing poverty and vulnerability will bear the brunt of these funding cuts.  We must embrace equity-focused action and stand up for sustainable solutions that leave no one behind.”

    In March 2025, WHO and the RBM Partnership to End Malaria launched a cross-partner working group of technical experts and donor agencies to ensure rapid, aligned support for countries where it is most needed.

    “It is critical, now more than ever, to ensure that our malaria interventions are fully integrated within broader health systems,” noted Dr Michael Charles, CEO of the RBM Partnership to End Malaria. “Our collective efforts must continue to focus on streamlining, on coordination and on sustainable financing. And, at the end of the day, we must ensure that we are putting countries first.”

    Sustained investment in primary health care and delivering integrated, life-saving services – particularly for vulnerable populations – must remain a priority.

    MIL OSI United Nations News –

  • MIL-OSI Security: Two Men Sentenced for Misbranding and Conspiring to Price Gouge N95 Masks in Early Months of COVID-19 Pandemic

    Source: Office of United States Attorneys

    BOSTON – Two brothers, who co-owned a now-defunct Florida-based company, have been sentenced in federal court in Boston for charges associated with shipping facemasks that were misbranded as N95 respirators, and price gouging hospitals, during the earliest phase of the COVID-19 pandemic.  

    Daniel Motha, 40, of Miami, Fla. and Jeffrey Motha, 36, of Norfolk, Mass. were each sentenced by U.S. District Court Judge Myong J. Joun to one year of probation and ordered to pay a $9,500 fine. In October 2025, the defendants pleaded guilty to one count of introduction of misbranded devices into interstate commerce and one count of conspiracy to commit price gouging in violation of the Defense Production Act. Daniel Motha and Jeffrey Motha were charged in October 2024, along with JDM Supply LLC (JDM). In August 2023, a third individual, Jason Colantuoni of Norfolk, Mass, pleaded guilty to conspiracy to commit price gouging in connection with this investigation. Colantuoni is scheduled to be sentenced on June 23, 2025.

    The defendants co-owned JDM, with Daniel Motha serving as the company’s chief executive officer and Jeffrey Motha serving as head of sales. In the spring of 2020, during the earliest phase of the COVID-19 pandemic, JDM conspired with another company, Advoque Safeguard LLC – a PPE manufacturer –  to distribute facemasks that were misbranded as National Institute of Occupational Safety and Health (NIOSH)-approved, N95 respirators. JDM misled one hospital into believing that the masks were NIOSH-approved N95s, when in fact they were not. As a result, the hospital accepted and paid for approximately 850,000 purported N95 masks that were manufactured by Advoque and sold by JDM, at a total price of approximately $2.6 million. To accompany the masks, JDM sent the hospital NIOSH-passing test results and approval documents for a different mask. Ultimately, the hospital did not use the masks, which were eventually returned to Advoque.

    In August 2020, a NIOSH lab tested a sample of the masks that had been shipped to the hospital. The masks tested between 83.94% and 93.24% filtration efficiency, thus falling below the 95% minimum level of filtration efficiency required for N95 respirators.  

    Daniel Motha and Jeff Motha conspired to use JDM to exploit and profit off of the critical need of hospitals and healthcare workers for scarce N95 masks during the COVID-19 pandemic. They accumulated N95 masks from various sources and then sold the N95 masks through JDM to hospitals in Massachusetts, and elsewhere, at prices that exceeded the prevailing market price.

    United States Attorney Leah B. Foley; Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service, Boston Division; Fernando McMillan, Special Agent in Charge of the Food and Drug Administration, Office of Criminal Investigations; Christopher Algieri, Special Agent in Charge of the U.S. Department of Veterans Affairs Office of Inspector General, Northeast Field Office; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Michael J. Krol, Acting Special Agent in Charge of Homeland Security Investigations in New England made the announcement today. Assistant U.S. Attorney Howard Locker of the Health Care Fraud Unit prosecuted the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud. 
        
    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline via the NCDF Web Complaint Form.

    MIL Security OSI –

  • MIL-OSI USA: Huizenga Introduces Bipartisan Legislation to Strengthen Youth Sports, Small Business Economy

    Source: United States House of Representatives – Congressman Bill Huizenga (MI-02)

    Today, Congressman Bill Huizenga (R-MI) and Congressman Marc Veasey (D-TX) announced the introduction of the bipartisan and bicameral Youth Sports Facilities Act. This bipartisan bill amends Title II of the Public Works and Economic Development Act to add Youth Sports Facilities to the list of eligible uses of Economic Development Assistance grants. This will help build and improve youth sports facilities across the nation, increase tourism, and strengthen small business.

    After introducing this bipartisan legislation, Congressmen Huizenga and Veasey released the following statements:

    “The Youth Sports Facilities Act is a bipartisan solution designed to bring communities together, create economic opportunity, and improve the physical and mental well-being of students across the nation,” said Congressman Bill Huizenga. “For too long, an area code has determined whether students could have access to facilities or resources necessary to participate and compete. I am proud to champion the Youth Sports Facilities Act because it opens the doors for communities across Michigan and around the country to create new opportunities for children to develop critical skills, enhance local tourism, and foster small business growth.”

    “Youth development is about more than academics—it’s about access to safe spaces where kids can play, grow, and thrive,” said Congressman Marc Veasey, Co-chair of the Youth Sports Caucus. “This bill empowers states like Texas to invest in the sports and recreation facilities our communities need. By unlocking EDA funding, the Youth Sports Facilities Act gives underserved areas the tools to build healthier futures and stronger local economies. I’m proud to work with my colleagues to make this long-overdue investment in our kids and neighborhoods.”

    The companion bill has been introduced in the U.S. Senate by Senators Jon Ossoff (D-GA) and Todd Young (R-IN).

    “Georgia families deserve modern and safe sports facilities where their kids can play, grow, and thrive,” said Sen. Ossoff. “This bipartisan bill will help Georgia communities expand youth sports facilities, strengthen local economies, and foster mental and physical health for the next generation.”

    “Youth sports play a vital role in promoting healthy lifestyles from an early age while teaching essential life skills like teamwork and discipline. This bill would empower communities to use existing grant resources to improve youth sports facilities for children living in areas of need, encouraging greater youth sports participation across the nation,” said Sen. Young.

     

    This legislation is also endorsed by several national and local stakeholders.

    “As the leading nonprofit provider of youth sports programs, YMCA of the USA supports the Youth Sports Facilities Act. Youth sports facilities often lead to growth in local economies as families attend sporting events, support local business, hotels and restaurants. Youth sports programs create a space for families and the community to belong, improve health outcomes and strengthen the fabric of the economy and the community.” Jeffrey Britt, Chief Government Affairs Officer, YMCA of the USA

    “The Youth Sports Facilities Act will provide a new federal funding opportunity through the Economic Development Administration for municipalities like Portage to develop safe, accessible recreation facilities for the next generation to help strengthen and connect our community,” said Mayor Patricia Randall, City of Portage, Michigan. “I applaud the bipartisan leadership in Congress for reintroducing this important legislation prioritizing children’s health while spurring economic investments within communities.”

    “Because we see firsthand the role sports can play in shaping young people and growing communities, Pop Warner fully supports the re-introduction of the Youth Sports Facilities Act. By expanding the Economic Development Assistance grant program to include investments in youth sports facilities, this bill will ensure every community has the resources it needs to create safe and accessible sports environments. We urge you to pass this bill, investing in our children’s futures and in the well-being of our communities.” Steve Strawbridge, President & CEO, Pop Warner Little Scholars

    “The West Michigan Sports Commission was founded in 2007 as an economic generator to spur visitor spending for the region. One of its key tenets is generating overnight stays from event visitors, which drives spending in area hotels, restaurants, and support of other businesses, sustaining and creating jobs.  However, sports tourism and investment in sport facilities goes beyond these metrics. Investment in sport infrastructure provides a launching pad for health and wellness, vibrancy, and community activity and access to sport.” Mike Guswiler, President, West Michigan Sports Commission

    “The access barrier to sports participation keeps America’s youth off the playing field and denies them the opportunity to realize the mental & physical health benefits and develop the social skills so important to a child’s development.  SFIA fully endorses the Youth Sports Facilities Act to give communities the resources needed for investments in youth sports facilities to lower the access barrier to participation.” Todd Smith, President & CEO, Sports & Fitness Industry Association 

     

    Background:

    The COVID-19 pandemic highlighted how physical activity in communities plays a significant role in mental and physical health, especially among children. However, children who could not participate in these activities due to a lack of access to sports facilities had worse outcomes.

    For example, studies show that children playing sports can reduce anxiety and depression, ultimately saving the health system billions. Moreover, participation in youth sports could reduce cases of weight-related diseases such as type 2 diabetes, coronary heart disease, stroke, and cancers in children.

    The Economic Development Administration was created to assist state and local stakeholders with developing the conditions and amenities to grow businesses, create jobs, and expand investment in economically distressed areas. Allowing communities to access federal grants to build youth sports facilities will lead to better health outcomes for future generations of children. Not only do youth sports encourage athletic growth and teamwork, but they also create significant economic impact by attracting events and visitors to the community.

    The Youth Sports Facility Act is supported by the Sports & Fitness Industry Association, the YMCA, the National Federation of High Schools, the American College of Sports Medicine, U.S. Soccer, the NHL, the PWHL, USA Hockey, Pop Warner Little Scholars, the Michigan Sports Commission, and the National Recreation and Parks Association.

    MIL OSI USA News –

  • MIL-OSI USA: Participate in Love Our NY Lands Stewardship Days

    Source: US State of New York

    overnor Kathy Hochul today announced that New York State agencies and partners will celebrate a series of stewardship events to help enhance parks, historic sites, environmental education centers, campgrounds, state forests, wildlife management areas, and a variety of public lands as part of the Love Our New York Lands Stewardship Days. Service projects hosted during these events will raise awareness and visibility of the State’s expansive outdoor recreation assets and provide opportunities for volunteers to plant trees, restore habitats, and engage with their local communities throughout the year.

    “New York’s natural beauty is unmatched, and with a record number of visitors continuing to take advantage of the world-class outdoor recreation opportunities our state has to offer, we have a responsibility to preserve these outdoor spaces for future generations to enjoy,” Governor Hochul said. “I encourage all New Yorkers to get offline and get outside – to connect in person, give back, and help protect the lands we love while strengthening the environmental and cultural legacy of our state.”

    The 2025 Love Our New York Lands days kicks off with Canal Clean Sweep from April 18 through 20, followed by I Love My Park Day on May 3, Adirondack and Catskill Park Day on September 6, and Wildlife Day on October 4. This volunteer initiative is operated in partnership with Parks & Trails New York (PTNY), the New York State Office of Parks, Recreation and Historic Preservation (State Parks), Department of Environmental Conservation (DEC), and Canal Corporation.

    Love Our New York Lands encourages year-round stewardship and provides visitors with the knowledge to reduce their impact, engages users to practice sustainable and safe recreation, and helps all visitors feel welcome while visiting state lands. To help achieve Governor Hochul’s initiative to plant 25 million trees by 2033, up to 2,500 tree seedlings from the DEC’s Colonel William F. Fox Memorial Saratoga Tree Nursery will be made available to plant at I Love My Park Day this year. These efforts will invigorate tree planting efforts and help achieve the many benefits of trees in New York’s communities. The public can track and record tree plantings and find other community-based tree planting events through the DEC Tree Tracker Dashboard.

    Registration is currently open for the 20th annual Canal Clean Sweep taking place April 18-20. Volunteers can choose from nearly 100 events across the New York State Canal System and Canalway Trail. Help celebrate the bicentennial of the Erie Canal by joining thousands of volunteers to clean up our state’s greenways and canalways in preparation for the summer season. Visit www.ptny.org/canalsweep for more information and to sign up for an event.

    Registration is also open for the 14th annual I Love My Park Day on May 3. This is the largest single-day statewide volunteer event that enhances our State Park system, and DEC public lands, with volunteers participating by cleaning up debris, planting trees and gardens, restoring trails and wildlife habitats, removing invasive species, and working on various site improvement projects. Visit https://www.ptny.org/ilovemypark to sign up and participate.

    Additional opportunities will be available at Adirondack and Catskill Park Day on September 6 and at Wildlife Day on October 4. These events will highlight the state’s uniquely protected Forest Preserve lands in the Catskills and Adirondacks and wildlife conservation efforts and wildlife-associated recreation. More information will be available at https://www.ptny.org/lovenylands.

    Parks & Trails New York Executive Director Paul Steely White said, “State Parks are welcoming more visitors each year–88 million visits across 250+ sites in 2024 alone. If only a fraction of those visitors attend a Love Our New York Lands volunteer event, we can make a real difference. Stewardship helps park goers feel connected to their environment and their community. PTNY is encouraged to work alongside agency partners committed to making their sites more enjoyable, accessible, and inviting to people of all backgrounds. We’ll see you out there!”

    Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simons said, “Our volunteers are crucial in making our state park system the very best in the nation and thanks to our partners at Parks & Trails New York, we are continuing to expand the opportunities to give back and promote responsible stewardship. We look forward to welcoming new and returning volunteers for these events and inspiring the next generation of visitors to help maintain and preserve our amazing public lands.”

    New York State Canal Corporation Director Brian U. Stratton said, “The Canal Clean Sweep, co-hosted with our partners at Parks & Trails New York, is a perfect way to get people connecting with each other, their communities and the Canalway Trail. Working together, these stewardship days make a real difference in creating spaces that are more inviting and welcoming for visitors from near and far. I look forward to rolling up my sleeves and joining our volunteers for the Canal Clean Sweep in just a few short weeks.”

    Department of Environmental Conservation Acting Commissioner Amanda Lefton said, “New York State’s unparalleled environmental and recreational assets draw millions of people each year. Thanks to the many volunteers and environmental stewards, the Love Our New York Lands days and ongoing educational campaign continue to encourage visitors to plan ahead, visit responsibly, and practice Leave No Trace™ principles to collectively preserve and continue sharing our public lands. We hope you can join Parks & Trails New York and our State agency partners to steward public lands and promote safe, sustainable, and responsible recreation all year round.”

    Assemblymember Deborah Glick said, “Since the pandemic, New Yorkers have learned that our state parks are not only a wonderful way to get out and enjoy the amazing nature our beautiful state has to offer, but also to give back. Love Our New York Lands is a great opportunity for New Yorkers to get outside, enjoy our beautiful parks, and reduce their impact on the climate, and I hope many of us will participate.”

    The Love Our New York Lands campaign, launched in 2020 by DEC and State Parks, encourages all users of state-owned lands to recognize that these lands are shared by ALL of us, our families, and our neighbors, and we all need to take care of them. The campaign includes guidance on Leave No Trace™ principles so that visitors can do their part to help ensure these special places are protected for future generations. Love Our New York Lands encourages visitors to be respectful of other visitors in these shared spaces. Visitors are asked to share trails, treat people with kindness, and leave things as they found them for others to enjoy. Visitors are encouraged to think of themselves as responsible for helping protect these irreplaceable destinations for future generations. More information is available on DEC’s website.

    Governor Hochul is committed to expanding access to outdoor recreation. The FY25 Enacted Budget included $300 million in capital funding to invest in park improvements, which includes $100 million for the celebration of the New York State Parks’ Centennial. The Governor also launched a new $150 million NY SWIMS capital grant program to expand access to safe swimming opportunities for New Yorkers, address equity gaps, and provide resources for communities facing extreme heat.

    Additionally, the FY26 Executive Budget proposes $200 million for State Parks to invest in and aid the ongoing transformation of New York’s flagship parks and support critical infrastructure projects throughout the park system. The Governor’s new Unplug and Play initiative also earmarks $100 million for construction and renovation of community centers through the Build Recreational Infrastructure for Communities, Kids and Seniors (NY BRICKS), $67.5 million for the Places for Learning, Activity and Youth Socialization (NY PLAYS) initiative helping New York communities construct new playgrounds and renovate existing playgrounds; and an additional $50 million for the Statewide Investment in More Swimming (NY SWIMS) initiative supporting municipalities in the renovation and construction of swimming facilities.

    About Parks & Trails New York

    Parks & Trails New York is New York’s leading statewide advocate for parks and trails, dedicated since 1985 to improving our health, economy, and quality of life through the use and enjoyment of green space for all. With thousands of members and supporters across the state, PTNY is a leading voice in the protection of New York’s magnificent state park system and the creation and promotion of more than 1,500 miles of greenways, bike paths, river walks and trails. More information can be found here.

    About New York State Office of Parks, Recreation and Historic Preservation

    The New York State Office of Parks, Recreation and Historic Preservation oversees more than 250 parks, historic sites, recreational trails, golf courses, boat launches and more, which saw a record 88 million visits in 2024. For more information on any of these recreation areas, visit parks.ny.gov, download the free NY State Parks Explorer app  or call 518.474.0456. Connect with us on  Facebook,  Instagram, X, LinkedIn the OPRHP Blog or via the OPRHP Newsroom.

    About New York State Department of Environmental Conservation

    The New York State Department of Environmental Conservation manages five million acres of public lands, including three million acres in the Adirondack and Catskill Forest Preserve, 55 campgrounds and day-use areas, more than 5,000 miles of formal trails and hundreds of trailheads, boat launches, and fishing piers. Plan your next outdoor adventure and connect with @NYSDEC on social media.

    About the New York State Canal System

    New York’s Canal system includes four historic canals: the Erie, Champlain, Oswego, and Cayuga – Seneca. Spanning 524 miles, the waterway links the Hudson River with the Great Lakes, the Finger Lakes and Lake Champlain. The canals form the backbone of the Erie Canalway National Heritage Corridor and connect hundreds of unique communities. The New York State Canal Corporation is a subsidiary of the New York Power Authority. Like Canals on Facebook at NYS Canal Corporation and follow Canals on X (formerly Twitter) at @NYSCanalCorp.

    MIL OSI USA News –

  • MIL-OSI Europe: Briefing – Legal bases in Article 122 TFEU: Tackling emergencies through executive acts – 11-04-2025

    Source: European Parliament

    Article 122 of the Treaty on Functioning of the European Union (TFEU) provides for two legal bases, enabling the Council to adopt measures based on a European Commission proposal, without involving the European Parliament in any way. Article 122(1) addresses economic difficulties faced by Member States, and Article 122(2) specifically addresses financial assistance to Member States. It is understood that the Council may resort to Article 122 TFEU in exceptional circumstances. A recent example of the use of Article 122 TFEU is the Commission’s 19 March 2025 proposal to establish the security action for Europe (SAFE), aimed at mobilising the Union budget to support and accelerate national investment in defence. Considered jointly, the two legal bases enshrined in Article 122 TFEU are seen as the basis of an EU ’emergency law’. They have been praised for enabling the Union to react swiftly to unfolding crises, but at the same time, bypassing the European Parliament is seen as limiting democratic legitimacy. In its 2020 resolution on the COVID 19 pandemic, Parliament called for limiting the use of Article 122 TFEU, and called upon the Commission and Council to revise the Interinstitutional Agreement on Better Law-Making to increase Parliament’s role in crisis management decision-making and to enhance the use of the ordinary legislative procedure for adopting emergency response instruments. In this vein, in December 2020, Parliament, Council and the Commission adopted a joint declaration on budgetary scrutiny of new proposals based on Article 122 TFEU with potential appreciable implications for the Union budget. It supplements the Treaty framework by providing for the possibility of budgetary scrutiny of such proposals, with Parliament playing an active role. Moreover, the recent reform of Parliament’s rules of procedure has inserted a new Rule 138, under which the Commission will be invited to make a statement to Parliament explaining the reasons for the choice of Article 122 TFEU as legal basis. This briefing draws on various published sources and should not be taken to represent an official position of the European Parliament.

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – EU legislation and policies to address racial and ethnic discrimination – 11-04-2025

    Source: European Parliament

    People from racial and ethnic minority backgrounds face discrimination and its consequences on a daily basis. However, the exact scale of the problem is hard to gauge, owing to a lack of data and general under reporting of racist incidents. Although the European Union (EU) has been introducing legislation to combat racial and xenophobic discrimination since 2000, the problem persists. The global Black Lives Matter protests highlighted the need for new measures, while the COVID 19 pandemic saw a major increase in reports of racist and xenophobic incidents, and the crisis it triggered had a disproportionately large negative effect on racial and ethnic minority groups, in the form of higher death and infection rates. Studies point to the cost of racial discrimination not only for the individuals concerned, but also for society as a whole. For instance, a 2018 EPRS report argued that the loss in earnings caused by racial and ethnic discrimination for both individuals and societies amounts to billions of euros annually. EU citizens also acknowledge this problem: a 2019 survey found that over half of Europeans believe racial or ethnic discrimination to be widespread in their country. To address racial discrimination and the inequalities it engenders, the European Commission has put forward a number of equality strategies and actions. The European Parliament, meanwhile, has long demanded an end to racial discrimination. In recent resolutions, Parliament has called for an end to structural racism, discrimination, racial profiling and police brutality; for protection of the right to protest peacefully; for an enhanced role for culture, education, media and sport in the fight against racism; and for authorities to take an intersectional approach. On 18 and 19 March 2025, Members of the European Parliament from the Anti Racism and Diversity Intergroup (ARDI) co hosted the fourth EU Anti Racism and Diversity Week. This updates a briefing from June 2024.

    MIL OSI Europe News –

  • MIL-OSI: Alpine Banks of Colorado announces shareholder approval of forward stock split of Class A common stock and amended and restated Articles of Incorporation

    Source: GlobeNewswire (MIL-OSI)

    GLENWOOD SPRINGS, Colo., April 11, 2025 (GLOBE NEWSWIRE) — Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), announced yesterday its shareholders voted to approve amended and restated Articles of Incorporation to affect the following actions, among other things:

    • Increase the total authorized shares of common stock that the Company is authorized to issue from 15,100,000 to 30,000,000.
    • Increase the authorized shares of the Class A common stock from 100,000 to 15,000,000.
    • Effect a forward stock split of the outstanding shares of the Class A common stock by a ratio of 150-for-1.
    • Provide that holders of Class A common stock and Class B common stock shall be entitled to share equally in dividends and other distributions on a per share basis based upon the number of shares issued and outstanding.
    • Provide that each one share of Class B common stock shall be entitled to one vote.
    • Provide that each one share of Class A common stock shall be entitled to 20 votes.
    • Provide that unless otherwise required by law, the Class A common stock and Class B common stock will vote together as a single class on all matters, including the election of directors.
    • Provide that a majority of the total voting power of the outstanding shares of common stock entitled to vote shall constitute a quorum at any meeting of shareholders.
    • Provide that the approval of certain corporate actions requires the approval of more than 66 2/3% of the voting power of the outstanding shares of common stock entitled to vote.

    The amended and restated Articles of Incorporation and the related stock split of the Class A common stock will become effective upon the effective date specified in the filing with the Colorado Secretary of State which Alpine anticipates will occur on May 1, 2025.

    The 150-for-1 stock split of Alpine’s Class A common stock will be executed in the form of a stock dividend of 149 additional shares of Class A shares for every one Class A share issued and outstanding to shareholders as of the close of business on the record date of April 22, 2025. After the close of business on May 1, 2025, Alpine’s transfer agent, Equiniti Trust Company, LLC, will distribute to shareholders of record on the record date a book entry statement in lieu of a share certificate, which will represent the additional number of Class A shares to be received as a result of the stock split. Holders of Class A shares do not need to exchange their existing stock certificates if they hold shares in certificate form.

    Alpine currently has approximately 52,150 Class A shares outstanding. After the stock split, the number of Class A shares outstanding will increase to approximately 7,822,500 shares. Alpine’s Class B common stock will not be affected by the stock split but will be affected by the amended and restated Articles of Incorporation as described above.

    Answers to frequently asked questions about the stock split are available in the Investor Relations section of our website at https://www.alpinebank.com/who-we-are/investor-relations.html.

    About Alpine Banks of Colorado
    Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.5 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains, and Front Range. Alpine Bank has a five-star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B nonvoting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.

    *Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.

    Contacts:   Glen Jammaron   Eric A. Gardey
        President and Vice Chairman   Chief Financial Officer
        Alpine Banks of Colorado   Alpine Banks of Colorado
        2200 Grand Avenue    2200 Grand Avenue
        Glenwood Springs, CO 81601   Glenwood Springs, CO 81601
        (970) 384-3266    (970) 384-3257
             

    A note about forward-looking statements
    This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “reflects,” “believes,” “can,” “would,” “should,” “will,” “estimates,” “looks forward to,” “continues,” “expects” and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements we make regarding our evaluation of macro-environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward-looking statements are based on our current expectations and assumptions regarding our business, 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. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward- looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statement include, but are not limited to:

    • The ability to attract new deposits and loans;
    • Demand for financial services in our market areas;
    • Competitive market-pricing factors;
    • Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;
    • Effects of future economic, business and market conditions, including higher inflation;
    • Adverse effects of public health events, such as the COVID-19 pandemic, including governmental and societal responses;
    • Deterioration in economic conditions that could result in increased loan losses;
    • Actions by competitors and other market participants that could have an adverse impact on expected performance;
    • Risks associated with concentrations in real estate-related loans;
    • Risks inherent in making loans, such as repayment risks and fluctuating collateral values;
    • Market interest rate volatility, including changes to the federal funds rate;
    • Stability of funding sources and continued availability of borrowings;
    • Geopolitical events, including acts of war, international hostilities and terrorist activities;
    • Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;
    • Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;
    • Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;
    • Any increases in FDIC assessments;
    • Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
    • The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;
    • Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;
    • The ability to recruit and retain key management and staff;
    • The ability to raise capital or incur debt on reasonable terms; and
    • Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets.

    There are many factors that could cause actual results to differ materially from those contemplated by forward-looking statements. Any forward-looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Contact:   Eric Gardey, Chief Financial Officer
        Alpine Banks of Colorado
        (970) 384-3257
        ericgardey@alpinebank.com 

    The MIL Network –

  • MIL-OSI United Kingdom: Senior councillors in Leeds to consider local community services review report

    Source: City of Leeds

    Executive board meeting to be held on Wednesday 23 April

    Senior councillors in Leeds will consider an update report on ongoing work to enhance local community services and maximise the use of council buildings at a meeting later this month.

    At the meeting of the council’s executive board at Civic Hall on Wednesday 23 April, councillors will discuss the report which forms part of the council’s ongoing commitment to continuously assess and review all services to ensure they are being delivered as effectively as possible in the face of ongoing significant financial challenges.

    The report details the current positions regarding ongoing service reviews concerning mental health hubs for adults, Little Owls nurseries and children’s centres.

    Leeds City Council currently manages three buildings delivering mental health day support and another three buildings for people with complex needs. Due to changes in how services are being delivered across the wider community, especially following the pandemic, there is less need for people to attend these buildings.

    At the mental health hubs, nearly half of those receiving support do not access the building and as a result the hubs only open two or three days a week for groups or support sessions, although even on these days the capacity available is not being fully used.

    At the complex needs centres attendance has also been gradually declining, with an average capacity use of 58 per cent since the pandemic.

    To allow these services to be delivered more efficiently and to make better use of the buildings concerned, the council is proposing to move the three mental health hubs into the complex needs centres to become integrated community hubs for adults. There are no proposed changes to the level of support offered to people.

    The complex needs centres offer greater accessibility and are of a good standard and this change would see the Stocks Hill Mental Health Support Hub move to join the Calverlands Complex Needs Centre in Horsforth, Lovell Park Mental Health Support Hub join the Wykebeck Complex Needs Centre, and Vale Circles Mental Health Support Hub join the Laurel Bank Complex Needs Centre in Middleton.

    Consultation has been carried out with service users and stakeholders. Careful planning has also been undertaken to design individualised support to help people transition to the new sites or to other local community locations where services can be delivered.

    The integration of services from six buildings to three would deliver savings of around £500,000 this year, while the vacated buildings at Lovell Park and Vales Circles would be made available for sale for a capital receipt to help the council meet its savings requirement of over £100million this year.

    If executive board approves the proposed change, the mental health hub day services would relocate from next month with the integrated community hubs in full operation from June.

    The report also gives an update regarding the review of Little Owls nurseries and children’s centres. Following a market-sounding exercise undertaken for 12 Little Owls nurseries, the potential delivery through schools or alternative providers is being progressed. Interested parties are engaging in an assessment process which will include considering the need for, or use of, existing buildings. If alternative provision cannot be secured for any of the 12 nurseries, the council will retain and continue to deliver the service itself. This position will be clarified by the end of July.

    On children’s centres, the report details the timeline for proposals to improve the range, effectiveness and integration of services at the 56 centres managed by Leeds City Council or partners. Consultation will be undertaken in the summer with all interested parties, and a report on future proposals is expected to be considered by the executive board in September.

    The changing role of community centres is also explained in the report, broadening their remit to offer an increasingly wide range of services and support for all ages and becoming multi-use community spaces rather than just buildings, enabling them to be accessed more fully by the wider community.

    Community asset transfers are also being considered as an option for some community buildings where it is considered appropriate and with viable interest in them being run and managed at a local level.

    The council-managed Leeds libraries service continues to offer an increasing range of services, while the report also outlines the potential for leisure centres to also host additional services offering greater flexibility to their local communities.

    Leeds City Council deputy leader and executive member for resources Councillor Debra Coupar said:

    “The council is firmly committed to continuously reviewing all our services, and how and where they are delivered to ensure they are effective and meeting the needs of residents and the communities they serve.

    “Where we can make changes to improve the quality, range and accessibility of our services and to make them more integrated it makes sense to do that, while also helping to make sure our buildings and estate are being well used, maintained and are welcoming environments for people of all ages to want to use and visit.

    “Our proposed change to mental health day support provision will provide a transformative boost, with the integrated community hubs for adults bringing services and people together under one roof and all the associated benefits that synergy entails. We are committed to doing everything we can to make the transition as smooth as possible, while also being able to dispose of underperforming buildings to help with the significant financial challenge we face this year.”

    To see the report being considered by the executive board visit Council and democracy (item 9).

     

    ENDS

     

    For media enquiries please contact:

    Leeds City Council communications and marketing,

    Email: communicationsteam@leeds.gov.uk

    Tel: 0113 378 6007

     

    MIL OSI United Kingdom –

  • MIL-OSI Global: Will Africa’s young voters continue to punish incumbents at the ballot box in 2025? We are about to find out

    Source: The Conversation – Global Perspectives – By Richard Aidoo, Professor of Political Science, Coastal Carolina University

    Supporters of opposition candidate and former President John Dramani Mahama celebrate his victory in Accra, Ghana, on Dec. 8, 2024. AP Photo/Jerome Delay

    Voters in Gabon head to the ballot box on April 12, 2025, in a vote that marks the first election in the Central African nation since a 2023 coup ended the 56-year rule of the Bongo family.

    It is also the first presidential vote to take place in Africa in 2025, to be followed by contests later this year in Ivory Coast, Malawi, Guinea, Central African Republic, Guinea-Bissau, Tanzania, Seychelles and Cameroon.

    Of particular interest is whether these elections will continue the trend of last year’s votes. As the continent with the youngest population, Africa’s youth was crucial throughout 2024 to a series of seismic political shifts – not least the removal of incumbents and changes in the governing status quo in Ghana, Senegal and South Africa.

    Indeed, analysis of the 2024 African Youth Survey – one of the most comprehensive continent-wide polls of people age 18 to 24 – and election results of that year show a clear lack of optimism among the youth.

    Unemployment, the rising cost of living and corruption are primary factors driving youth dissatisfaction on the continent. For example, 59% of South African youth considered their country to be heading the wrong direction – and that’s not hard to imagine given that the country’s youth unemployment rate reached 45.5% in 2024. Not surprisingly, unemployment was a key factor in the election results. Meanwhile, widespread protests in Kenya and Uganda in the summer of 2024 were youth-led and sparked, respectively, by concerns over tax increases and corruption.

    As a professor of political science and an expert in African politics, I believe that a failure to address such concerns could have potentially serious implications for political leaders in the upcoming elections. It also makes it more difficult for countries to consolidate or protect already-fragile democracies on the continent.

    Unemployment fueling instability

    While African political campaigns often make note of persistently high rates of youth unemployment, the policy priorities of governments across the continent have seemingly failed to fix this intractable problem.

    In a 2023 Afrobarometer survey, unemployment topped the list of policy priorities for African youth between the ages of 18 and 35.

    Supporters of the UMkhonto weSizwe party, which helped unseat the long-time African National Congress, attend an election meeting near Durban, South Africa, ahead of the May 2024 general elections.
    AP Photo/Emilio Morenatti

    But for a multitude of reasons – including the lack of investment in training youth and other priorities – African governments have been unable or unwilling to tackle youth unemployment.

    Many governments, faced with the ongoing economic aftereffects of the COVID-19 pandemic and supply-chain issues – which exacerbated rising living costs, high inflation and external debt issues – pursued unpopular revenue collection policies

    Take Ghana, where in 2022 the government introduced an e-levy – a tax on electronic cash transfers. The move proved deeply unpopular and was dropped by the new government in 2024.

    The violent anti-tax protests in Kenya also provide an example of desperate unemployed youth tapping into a sense of deep popular resentment over fiscal policies.

    The combination of deep dissatisfaction with government policies and high youth joblessness can be a destabilizing influence. A 2023 United Nations Development Program study focusing on Ghana pointed to a problem that is common elsewhere on the continent. It concluded that in regions with higher-than-average youth unemployment, that factor was the most common cause for violent extremism and radicalization.

    The U.N. study underscored the importance of addressing the social and economic challenges that foster marginalization and anger among youth across sub-Saharan Africa.

    The issue of youth unemployment in Africa is exacerbated by the cumulative growth in the youth labor force – estimated to grow by 72.6 million between 2023 and 2050, according to a 2024 report by the International Labor Organization.

    The role that unemployment played in Africa’s 2024 elections does not bode well for some of those governments heading to the polls this year. In Gabon, youth unemployment has hovered above 35% in recent years.

    A corrupting influence

    Corruption remains a persistent social and political issue in much of Africa and continues to impede the efforts of youth to seek meaningful opportunities. So it is unsurprising that the issue was front and center during a number of 2024 elections, including in Senegal, South Africa and Ghana.

    The concerns in those countries mirror grievances registered around the continent more broadly, with reducing government corruption listed as a top priority by respondents in the African Youth Survey.

    Similar to unemployment, high levels of corruption correlated to some of the political shifts of 2024.

    An Afrobarometer survey of attitudes in 2024 showed that 74% of Ghanaians believed corruption had increased over the previous year.

    In Kenya, 77% of people view their government’s efforts in fighting corruption as ineffectual.

    Of particular concern to many African youth is the belief that security forces and government officials are often considered the most corrupt and that incidents of regularized corruption are underreported.

    And it is youth that bear the brunt of much of this corruption. According to a 2022 U.N. Office on Drugs and Crime report, people between the ages 18 and 34 are among the most vulnerable to having to pay bribes to public officials in Ghana.

    Supporters of soldiers who launched a coup against the government demonstrate in Niamey, Niger, on July 27, 2023.
    AP Photo/Fatahoulaye Hassane Midou

    Again, youth attitudes toward corruption don’t bode well for many of the governments in this year’s elections. Gabon, Cameroon, Central African Republic and Guinea-Bissau all score poorly on Transparency International’s Corruption Perception Index.

    The fragility of democracy

    There is an ongoing debate on the extent of slowdown of democratic progress in Africa, a trend that is underscored by a number of African military coups in recent years, including in Mali, Burkina Faso, Guinea and Niger.

    Democracy is at its strongest when it empowers governments to deliver on the needs of their populations, particularly the youth.

    But the experience of incumbent governments in 2024 elections suggests that too many may have disregarded young people’s needs, which in turn has led to anger resulting in destabilizing protests and regime change – both through democratic and undemocratic means.

    It also makes it harder to instill democratic sentiment among younger voters.

    Over half of Africa’s 18- to 35-year-olds surveyed in the 2023 Afrobarometer agreed that the military can intervene when leaders abuse power – a pertinent caution about their willingness to support political change, even if it interrupts the democratic process.

    While a majority of youth in Africa still retain an apparent preference for democracy to other forms of governance, a growing proportion would embrace nondemocratic governance under some circumstances, according to the 2024 African Youth Survey. The top scores in this particular response came from Gabon, Ivory Coast and Tanzania – all of which have upcoming elections in 2025.

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

    – ref. Will Africa’s young voters continue to punish incumbents at the ballot box in 2025? We are about to find out – https://theconversation.com/will-africas-young-voters-continue-to-punish-incumbents-at-the-ballot-box-in-2025-we-are-about-to-find-out-251413

    MIL OSI – Global Reports –

  • MIL-OSI Global: US tariffs will squeeze the UK economy. Could the government buy itself some breathing space?

    Source: The Conversation – UK – By Linda Yueh, Fellow in Economics/Adjunct Professor of Economics, University of Oxford

    William Barton/Shutterstock

    “Iron-clad” and “non-negotiable” is how UK prime minister Keir Starmer recently described the country’s fiscal rules. The government has been coming under pressure to relax the rules and cut itself some financial slack. But according to the PM, these self-imposed restrictions are vital for maintaining UK economic stability.

    What Starmer is referring to is notably the “stability” rule, which says that the UK will balance day-to-day public spending with tax receipts, rather than by borrowing, over the course of the parliament.

    But the volatility unleashed by US president Donald Trump’s tariff plans has challenged this rule. US tariffs could have a significant economic impact on the UK and the world economies.

    Indeed, the International Monetary Fund (IMF) estimates that 10% across-the-board tariffs, if they ultimately result in retaliation from China and the EU, could cut global economic growth by 0.5% in 2026.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences. Join The Conversation for free today.

    Unsurprisingly, the UK’s independent economic forecaster, the Office for Budget Responsibility (OBR), estimates a similar impact on the UK. It predicts that if the trade wars result in 20% tariff rates between the US and the rest of the world, it could reduce economic growth by as much as 1%. This, it says, could slash the expected UK budget surplus in 2029-30 to “almost zero”.

    And herein lies the challenge for the UK’s fiscal rules. Due to the stability rule, a cut to GDP growth would reduce the tax take. That would require either raising taxes or cutting public spending, due to the rule that this cannot be funded by borrowing.

    Fear that the government’s nearly £10 billion spending buffer will disappear by the end of the parliament puts pressure on the government to say how it would continue to stick to its fiscal rule. If it did result in spending cuts or tax rises, this could dampen economic growth and negatively affect people’s lives. And the decisions would have been taken on the basis of economic forecasts that may not come to pass.

    This is particularly true when the forecasts are based on US tariffs that were imposed and then paused in the space of just a week.



    Read more:
    Hopes of a ‘Brexit benefit’ from tariffs were short-lived. Here’s what Trump’s pause means for the UK

    This problem was also evident in the spring statement in March, when the chancellor of the exchequer, Rachel Reeves, announced spending cuts because the GDP growth forecast had been halved from 2% to 1% for this year.

    And the vast swaths of tariffs later announced by US president Donald Trump could have a similar impact on the UK’s growth rate.

    If the UK were to relax or abolish its fiscal rules, that may ease the pressure to react to a potential growth downgrade – which may or may not happen given the volatile nature of the US tariffs announced so far.

    The debt burden

    But the prime minister and the chancellor have both resisted this change. They are concerned about the UK’s credibility in the eyes of its creditors, who buy government debt in the bond markets based on their assessment of the fiscal position of the British government.

    The UK, like other advanced economies, borrows from bond markets to fund its budget deficits. The government is concerned that with a debt-to-GDP ratio of more than 95%, creditors may be reluctant to lend to the UK. To do so, they might want to charge more.

    A higher interest rate on the UK’s national debt would of course reduce the amount available for public spending.

    The UK spends more than £100 billion a year on debt interest payments. This is more than it spends on education or investment.

    The amount increased rapidly in recent years due to the global financial crisis and the COVID pandemic. And, relatively speaking, the UK spends more money on paying interest on its debt than other G7 economies (3.3% of its GDP compared with the G7 average of 1.7% in 2022).

    Part of this is due to the UK having more inflation-linked debt than comparable economies. About one-quarter of the UK’s debt repayment is linked to inflation, which is double that of Italy, the next highest in the G7, at 12%. And, as everyone in the UK has experienced, inflation has been high in the past few years.

    High inflation over the past few years has squeezed consumers – as well as the government.
    Edinburghcitymom/Shutterstock

    This makes the UK particularly susceptible to movements in bond markets. For instance, if the UK’s borrowing costs were to decline by one percentage point, that would save £21 billion over five years. That’s double the current “fiscal headroom” (effectively the government’s spending buffer) that is at risk from US tariffs.

    Without knowing for sure how bond markets would react, it would be challenging for the government to change its fiscal rules. But it’s also challenging to apply the stability rule during times of high volatility like this. Given the unpredictable nature of the US tariff regime, this debate is likely to go on for some time.

    Linda Yueh 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. US tariffs will squeeze the UK economy. Could the government buy itself some breathing space? – https://theconversation.com/us-tariffs-will-squeeze-the-uk-economy-could-the-government-buy-itself-some-breathing-space-254347

    MIL OSI – Global Reports –

  • MIL-OSI Europe: EU Fact Sheets – Recovery assistance for cohesion and the territories of Europe (REACT-EU) – 10-04-2025

    Source: European Parliament

    REACT-EU is a programme to repair the social and economic damage caused by the COVID-19 pandemic, and to prepare for a green, digital and resilient recovery. REACT-EU seeks to mobilise an additional EUR 47.5 billion from the structural funds for the years 2021 and 2022, and to increase flexibility in cohesion policy spending.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Council celebrates local heroes at Community Awards | Westminster City Council

    Source: City of Westminster

    Westminster City Council recognised its local heroes this week at an inspiring Community Awards ceremony held in Soho.  

    The awards were a chance to celebrate and highlight people in the community who make a real difference, recognising the wide range of contributions that our residents make. 

    One of the winners was The Mosaic Community Trust, who took home the Neighbourhood Centre of the Year award. They shared: 

    It means a lot to us to be recognised by Westminster City Council for our hard work. As much as we are grateful for winning, this award belongs to our community. Community is the pillar of what we do, and this one is for them”.  

    Mike Smith, runner up of the Active Citizen of the Year and the Building Social Cohesion Award, said:  

    I feel overwhelmed by the ceremony. It’s brought so many people together for the first time since the pandemic, and it shows that we’ve all kept on fighting for our community and Westminster – despite the difficult times that we have faced.”  

    Councillor Cara Sanquest, Cabinet Member for Communities, said:  

    I am so proud that we have relaunched Westminster City Council’s Community Awards. Our voluntary and community sector organisations, their staff and incredible volunteers go above and beyond to serve our communities. As a council, we recognise and value all of these contributions. 

    These awards celebrate their skills, experience, generosity of spirit and incredible energy that individuals and organisations bring to their work across the city. A huge thank you to all those who took the time to make a nomination, and congratulations to all our runners up and the winners!” 

    The winners were: 

    • Contribution to Health, Wellbeing and Health Equity: Angela Singhate – Tell It Parents Network, Harrow Road 

    The runners up were: 

    MIL OSI United Kingdom –