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Category: Pandemic

  • MIL-OSI Asia-Pac: Text of the Vice-President’s address at the inaugural ‘Murli Deora Memorial Dialogues’ (Excerpts)

    Source: Government of India (2)

    Posted On: 06 MAR 2025 10:30PM by PIB Delhi

    We had such a feast, both of governance and leadership. Shinde Ji, you have stolen the thunder. I am wonderstruck whether I can add anything. I may only repackage it. I recall every moment I spent with Shinde Ji, but more when me and my wife, went to his residence and had the good fortune to perform puja.

    His address is remarkably relevant, full of depth, assessment of contemporary scenario and challenges. He speaks of spinal experience he has gained from worker to leader and a leader is always a leader. It doesn’t matter in a cricket team you play at which number.

    I am absolutely elated that a leader has such a sacrificial attitude. My congratulations to you.

    We have amongst us, Shrimati Hema Deora Ji. I was greatly touched because she is privy to the hand holding which I received as a young parliamentarian from Shri Murli Deora Ji. I was elected to Parliament in 1989 and that was a big change. Congress had lost power and I was a Union Minister. He was a congressman. He took me to then Bombay, now Mumbai, and he helped me and introduced me to people who matter in industry and in the Marwadi community. When she revealed this briefly I had vivid recollection of those days. A man of sterling qualities, Murli Deora Ji. Ma’am your presence matters to us. I’m sure you will have the good occasion to see your son perform in Rajya Sabha. Eknath Shinde Ji has sent a jewel to Rajya Sabha. He marks his addresses with due diligence, thorough study, calm and composed. I’m sure you’ll be in Chairman’s Gallery to applaud him someday.

    We have amongst us distinguished Members of Parliament. Though the audience is absolutely very imminent and each one of you matters to me hugely but I don’t believe in taking risks. Therefore I must recognise presence of Members of Parliament. One on the dais, Shri Milind Deora Ji. A stalwart of politics in the State and the Nation, Shri Ashok Chauhan Ji. Shri G.K. Vasan Ji, whose father had handheld me in a similar manner as Murli Deora Ji. Young, energetic, youthful, but in third term, Shrikant Shinde Ji. I hope I don’t miss any parliamentarian otherwise, I may suffer at their hands

    Shri Raghavendra Singh, President Kotak Mahindra Bank is energy capsule has great administrative capacities, but what I gather from him, having known him, for the third generation, is full of positivity. I must recognize presence of some who are present here, Shri Ashok Hinduja Ji is here, We have Shri Uday Kotak Ji.

    I’ll come to Amrita Ji a little later because she is much beyond the spouse of the Chief Minister for me. His Holiness Syedna Sahab Ji.

    Shri Gauranga Das, Shri Gaur Gopal Das, they both are from ISCON. People in Industry, Shri Pranav Adani, Shri Neeraj Bajaj, Mr. Jalas Dhani, and let me tell you, everyone who is present here, I am greatly indebted, but never miss a journalist if he is your friend. You may suffer at his hands forever. I am referring to none other than Sanjay Pugalia, whom I have known for more than four decades. We had such a wonderful cricket match and India is in the finals so why not remember Surya Kumar Yadav? He’s known as Mr. 360 degrees

    Now, Amrita ji. Amrita ji, you have created a problem for me because of a condition I set for Devendra Fadnavis, that I will receive him at Upa-Rashtrapati Niwas as only if he is accompanied by Amrita ji. Every time he makes excuse, please ensure. I would love to receive both of you at Upa-Rashtrapati Niwas, where I have had the great occasion to receive Shinde Ji.

    Now, ladies and gentlemen, I come to the inaugural lecture.

    It is an absolute honour and privilege to deliver the Murli Deora Memorial Lecture Dialogue, dedicated to one of the finest public figures in politics, who nurtured friendships all his life. He bridged the differences and was loved by all. In his life, he missed one thing. He had no adversaries that was his stature. Murali bhai, as fondly reminisced by his peers, exemplified public spirit and dedication.

    He was a statesman in the mould of a politician, a rare blend of foresight and pragmatism. From being the youngest mayor of Bombay, now Mumbai, to serving seven terms in Parliament, he showed deep commitment to democratic values and public service. His belief in dialogue, debate, discussion, deliberation, consensual approach, cooperative approach, coordination, are being missed now.

    Murli Deora will always be remembered for his proactive efforts to save the country from the hazards of smoking. He approached the highest Court of the land, sought affirmative intervention to secure a ban on smoking at public places. Life of Murli Deora Ji was a testament to the idea of leadership, that this idea is not a pedestal but a pilgrimage, a journey of service to the last, the least and the lonely.

    I commend, ladies and gentlemen, Milind Deora, a senior parliamentarian, former Union Minister, and his friends for organising this annual feature as a befitting tribute to Murli Ji. The theme “Leadership and Governance” is indeed thought provoking as also of great contemporaneous relevance.

    Bharat, home to one sixth of humanity, is the oldest, largest and most vibrant and functional democracy. Bharat is the only Nation in the world that has constitutionally structured democratic institutions from village to National level.

    First, I focus on the source of Governance in Democracy. Our Constitution’s Preamble indicates ‘We The People’ as the foundational source and premise of Governance. Preamble of the Constitution also reveals purpose of governance being Justice, Equality, Fraternity for all.  We must appreciate the contours of ‘We The People’  the ultimate repository of sovereignty. A sovereignty that we cannot afford to dilute or to be taken away.

    We the people through electoral platforms constitute Parliament, Legislatures, panchayats, municipalities and elect the President and the Vice- President. The sanctity of this repository of sovereignty is essential for democratic governance. Imagine what will befall us if we are deprived of our sovereignty. The integrity of ‘We the People’ in the present times is being stressed and challenged and the challenge is surfacing in multiple ways. Leadership faces a daunting task to preserve and sustain this.

    Let me advert to some worrying trends. There are many, I am referring only to some. The Nation houses millions of illegal migrants causing a demographic upheaval. Millions of illegal migrants are in this country making a huge demand on our health services, education services. They are depriving our people of employment opportunities. Such elements have alarmingly secured electoral relevance in some areas and their securing electoral relevance is shaping the essence of our democracy. Emerging dangers can be evaluated through historical reference where Nations were swept off their ethnic identity by similar demographic invasions.

    As a matter of fact there are countries where demographic invasion resulted in complete eclipse of ethnicity where ethnicity was in complete majority.

    Ladies and gentlemen, this malaise, far more severe than COVID, is aggravatingly intersected with conversions through allurements, with vulnerable sections trying to be trapped, the marginalised, the tribal, the weaker become easy prey to these temptations and allurements.

    Faith is your own, faith is dictated by conscience. The Indian constitution gives freedom of faith but if this faith is held hostage by temptations, it is according to me, defacing freedom of faith. The concerning objective behind these pernicious designs is to detrimentally vary and ultimately eclipse ‘We the people’s’ identity and secure for themselves a majoritarianism position. I’m sure no one will disagree. This danger has to be thwarted.

    This is too serious an onslaught to be either countenanced or overlooked. Just reflect for a moment the change that has taken place in our demography in the last two decades. Look at some of the areas where impregnable fortresses emerged.

    The theme “Leadership and Governance” is indeed thought provoking as also of great contemporaneous relevance.

    Bharat, home to one sixth of humanity, is the oldest, largest and most vibrant and functional democracy. Bharat is the only nation in the world that has constitutionally structured democratic institutions from village to national level.

    First, I focus on the source of Governance in Democracy. Our Constitution’s Preamble indicates ‘We The People’ as the foundational source and premise of Governance. The Preamble of the Constitution also reveals purpose of governance being Justice, Equality, Fraternity for all.  We must appreciate the contours of ‘We The People’ – the ultimate repository of sovereignty.

    A sovereignty that we cannot afford to dilute or to be taken away.

    The power of ‘We the people’ cannot suffer any sacrilege or dilution. Leadership must engage in overdrive, generating National consensus to preserve the sanctity of ‘We the people’ and work in togetherness, in tandem, to neutralise all misadventures against it.

    ‘We The People’ faces onslaughts from within and without. Forces inimical to Bharat have converged to systemically weaken nationalistic spirit. Constitutional institutions face orchestrated public ridicule as part of political strategy. Even the Presidency isn’t spared. Tarnishing institutions, especially on foreign land, is against our culture, is against our national interest.

    Every citizen has the power of social media. I beseech everyone in the interest of this country to be alive to these trends and make contributions. Anti-national narratives gain evil-inspired momentum. Misinformation aimed at destabilising the nation is rising.

    We had the painful occasion to see it during COVID. The pandemic that shook the world, then a nation of over 1.3 billion faced it by innovative mechanisms initiated by the Prime Minister and it was successfully handled. The entire global fraternity, as I call it, in Bharat, while tackling pandemic at home, lent assistance to hundreds of other countries. But some amongst us did not spare any effort to run us down. Such category of people who are recipe for chaos need to be exposed. Leadership must navigate this challenge through citizens’ mindset response.

    Friends, Bharat is a global beacon of inclusivity and thrives with unity in diversity. This calls for all to prioritise nation first. Commitment to nationalism marks freedom and democracy.

    No interest, partisan, economic, or personal, can justifiably be the ground to compromise national interest.

    Ladies and gentlemen, Issues of constitutional clarity, whether Constitution is categorical, our founding fathers have given us the path. On issues like language, common civil code, seats of divisions are being sown. The response of the government emanates from constitutional

    prescriptions.

    We have to work in overdrive to see that these issues that are premised on our Constitution are not politicised to the detriment of the Nation.

    Leadership must seek national consensus and public awareness to sensitize people of the dangers that are inherent in such approaches. India’s civilizational ethos offer a rich repository of leadership principles that predate modern governance theories by millennia.

    Our Vedic knowledge offers insight for leadership. Leadership in public life requires vision, character, and commitment to nationalism. We have seen what wonders visionary leadership can do in the last 10 years. The nation has navigated from a disturbed scenario of gloom to one of hope and possibility.

    We must always remember, ladies and gentlemen, we are the land of Vedas, Upanishads, Ramayan, Mahabharat, Srimad Bhagavad Gita and the wisdom therein guides us all throughout.

    The Bhagvad Gita provides timeless leadership lessons through Lord Krishna’s counsel to Arjuna.

    “यद्यदाचरति श्रेष्ठस्तत्तदेवेतरो जनः।

    स यत्प्रमाणं कुरुते लोकस्तदनुवर्तते॥”

    “Whatever a great man does, others follow. Whatever standard he sets by his exemplary acts, the world pursues.”

    This verse underscores the profound responsibility of leaders, because they are naturally taken as torchbearers, role models whose actions shape the course of the society.

    But a challenge that is coming to society from these people is very dangerous. An informed mind, having held credible positions, trades on the ignorance of people to monetise politically. And that happened on many occasions in the last ten years. People in authority, who presided over our financial institutions for long, had no qualms in indicating to the world that India can never register economic rise beyond 5%. And we had one and a half times of that, that very year. On such matters, ladies and gentlemen, our memory should not be short.

    Kautilya’s Arthashastra, perhaps the world’s earliest comprehensive treatise on statecraft and governance, offers sophisticated insights on leadership.

    I quote “The king shall consider as good not what pleases himself but what pleases his subject.”

    This ancient wisdom resonates with modern governance principles, where true leadership transcends self-interest to embrace collective welfare. We all have seen this development. We need to continue it.

    Let us reflect on what is there in our civilisational essence and ethos. Vasudhaiva Kutumbakam, Sarvajan Hitaaya, Sarvajan Sukhaaya.

    These are the twin pillars of governance from our scriptures, and look at how it translated for the entire world to know. During India’s presidency of G20, one earth, one family, one future, this was universally accoladed and accepted.

    Friends, democracy flourishes with expression and dialogue. Abhivyakti or samvad are its jewels. One is incomplete without the other. Expression complements dialogue and the other way round. If you believe in the right of expression without taking note of the dialogue, then you miss the point. In the process you indicate, I alone am right, to the exclusion of every other thought. And that is why we have emanated from our scriptures, Anantavada. This is essential. Inalienable facet of good governance, judgemental response to different viewpoints, differing viewpoints, a point that is different than yours, reflects absolutism. And absolutism has no place in democracy. Democracy requires consensual approach.  The other point of view must be considered. And there should be an effort for convergence to an agreed viewpoint.

    Constituent Assembly debates exemplify this approach. For little less than three years, in 18 sessions, Constituent Assembly deliberated very contentious issues, very divisive issues that took recourse to dialogue, debate, discussion, and deliberation.

    There never was an occasion for disruption or disturbance but when we find such a big change taking place. Disruption is being weaponized as a political strategy to make Parliament or legislatures dysfunctional. This does not augur well for the health of democracy and in some situations, it will pronounce death knell of democracy. If these temples of democracy do not perform constitutional ordainment, then people in the country are bound to be concerned and worried.

    I, as Chairman of the Council of States, express my deep anguish. And I appeal to people at large, academia, intellectuals, those in business, trade, commerce and industry, those in media, public servants, to create a mindset to put pressure on Parliamentarians and representatives. You perform because there can be no vacuum in democracy. If the legitimate platform of debate is dysfunctional. People will take to the streets. They have to voice their concerns in one way or the other.

    Ladies and gentlemen, coming to another challenge. Last 10 years, the nation has witnessed exponential economic upsurge, phenomenal infrastructural growth, deep digitization, technological penetration, unknown before. Global institutions are accommodating Bharat as a favorite destination of investment and opportunity. The rural landscape has been revolutionized with every house having toilet, electric connection, pipe water is on the way, gas connection, road connectivity, health and education centers. And people therefore have gravitated to politics of development as indicated by Eknath Shinde Ji. In that scenario, this phenomenal success story during the last 10 years brings with it a great challenge. On one hand, no nation in the world has this kind of growth as Bharat has had in the last 10 years.

    India at the moment on account of this growth is the most aspirational nation in the world. Imagine a country of 1.4 billion with that kind of demographic dividend getting into aspirational mode. The leadership has to perform at rocket speed. Because there can be restiveness, restlessness. And therefore I call upon every person, do not look at the government alone. Your opportunity basket is flattening every day, blossoming. When you look at surface of the sea, or deep sea, or ground surface, or deep ground, or sky, or space.

    India’s performance has increased your participation. Blue economy or space economy, you can take to that area.

    Good governance requires that we prevent problems, we preempt problems. It is not merely solving a problem. We must have a full diagnosis. Why should a problem be there at all? Real-time delivery is quintessential.

    There was a time not long ago when power corridors were infested with lies and agents, corrupt elements, who extra-legally leveraged decision-making. Patronage was the password for a contract or a job. But on account of introduction of technology, expedition service delivery, transparent and accountable mechanism. These power corridors now are fully sanitised. The world is looking to India for generating transparency, accountability, quick service delivery, people-centric policies in their countries

    Ladies and gentlemen, I see one concern, and that concern is across the political spectrum. There is emergence of a new strategy, and the strategy is of appeasement or being placatory.

    Now, election is important in Democracy but not the end of it. Our scriptures have indicated means are as important as the end.

    And the governments, we are in a state where financial position is very strong. The financial capital of the country, a global center for business and trade, but some governments that took recourse to this appeasement and placatory mechanisms are finding it very difficult to sustain in power, but one consequence is very categorical and those in economics know it.

    We have stalwarts of economics sitting here and that is if there is excessive spending on electoral promises, then the state’s ability to invest in infrastructure is correspondingly reduced. This is detrimental to the growth scenario.

    And therefore, I would call upon leadership of all political parties in the interest of democratic values to generate a consensus that engages into such kind of electoral promises that can be performed only at the cost of CAPEX expenditure of the state.

    I should not be misunderstood, ladies and gentlemen, because while the Indian Constitution has given us right of equality, it does provide in Article 14, 15 and 16 an acceptable category of affirmative governance, affirmative action, the reservation for SC, ST, for those who are in the economically weaker section. That is sanctified.

    There are exceptional situations for rural India, for the farmer, where affirmative steps are required to be taken. But this is very distinct from the other aspects I was talking about. This is not placatory or appeasing. It is justifiable economic policy. And therefore, it is good leadership that can take a call, where to draw the line in the fiscal sense in the matter of political foresight and leadership spine.

    There is another aspect on which we need to focus. National debate is required so that we take note of the shift from Democracy to Emocracy. Emotion-driven policies, emotion-driven debates, discourses threaten good governance. Historically, populism is bad economics. And once a leader gets attached to populism it is difficult to get out of the crisis. And therefore, the central factor has to be the good of the people, the largest good of the people, and the lasting good of the people. Empower people to empower themselves rather than empower them momentarily, because that affects their productivity.

    Our institutions are very critical. Our institutions must continue to be relevant. Political leadership must address declining relevance of institutions due to disruption and divisive politics. We have an example before us, as I said earlier. We have the legacy of our Constitution being negotiated through dialogue without acrimony. Today’s leaders should consult this spirit.

    Parliament is much beyond ideological discourse. Its democracy is a temple where discussions should focus on progress and people’s welfare. Sliding parliamentary institutions into irrelevance is a challenge to democracy and our existence. It is worrisome when disruption and disturbance are weaponised, as I said. A dysfunctional Parliament, particularly in Bharat, that is the world’s oldest, largest, and most vibrant democracy, is injustice to the people. Our people deserve much better from our parliamentarians.

    From this sacred place, I urge parliamentarians and legislators to soul-search. Democracy cannot function when expression and dialogue are compromised, while citizens must hold representatives accountable. For eternal vigilance remains freedom’s price. Institutional perimeters must be maintained. Judicial overreach into executive governance disrupts democratic values. I do not mean to reflect more on it, but I affirm governance is the sole prerogative of the executive and this is premised because executive is accountable to the people, to the legislature, every five years or before, the executive has to go to the people to get their approval. And every action taken by the executive is amenable to legislature intervention but if this executive function is performed by any other institution, including judicial, it will be difficult to look for accountability and, furthermore the wherewithal, the information, the database, that help arrive at a decision cannot be available at other institutions other than the executive.

    Leadership is purpose driven and not position of power. It has been said in Upanishad. The Ishavasya Upanishad ईशवस्य उपनिषद counsels: “तेन त्यक्तेन भुञ्जीथाः” (Ten Tyakten bhunjitha)– “Enjoy through renunciation.”

    Our leaders will have to embrace this philosophy. Selfless service in governance by blending India’s timeless wisdom with today’s needs create Tagore’s vision. Rabindranath Tagore has said, I tread where mind is without fear and head is held high.

    “सत्यमेव जयते नानृतम्”, which emanates from Mundaka Upanishad, it says, truth alone must survive and nothing else. The Rig Veda, moving together in harmony principle, must be our North Star.

    ****

    JK/RC/SM

    (Release ID: 2108969) Visitor Counter : 146

    MIL OSI Asia Pacific News –

    March 8, 2025
  • MIL-OSI Asia-Pac: Text of the Vice-President’s address at ‘Murli Deora Memorial Dialogue’ (Excerpts)

    Source: Government of India

    Posted On: 06 MAR 2025 10:30PM by PIB Delhi

    We had such a feast, both of governance and leadership. Shinde Ji, you have stolen the thunder. I am wonderstruck whether I can add anything. I may only repackage it. I recall every moment I spent with Shinde Ji, but more when me and my wife, went to his residence and had the good fortune to perform puja.

    His address is remarkably relevant, full of depth, assessment of contemporary scenario and challenges. He speaks of spinal experience he has gained from worker to leader and a leader is always a leader. It doesn’t matter in a cricket team you play at which number.

    I am absolutely elated that a leader has such a sacrificial attitude. My congratulations to you.

    We have amongst us, Shrimati Hema Deora Ji. I was greatly touched because she is privy to the hand holding which I received as a young parliamentarian from Shri Murli Deora Ji. I was elected to Parliament in 1989 and that was a big change. Congress had lost power and I was a Union Minister. He was a congressman. He took me to then Bombay, now Mumbai, and he helped me and introduced me to people who matter in industry and in the Marwadi community. When she revealed this briefly I had vivid recollection of those days. A man of sterling qualities, Murli Deora Ji. Ma’am your presence matters to us. I’m sure you will have the good occasion to see your son perform in Rajya Sabha. Eknath Shinde Ji has sent a jewel to Rajya Sabha. He marks his addresses with due diligence, thorough study, calm and composed. I’m sure you’ll be in Chairman’s Gallery to applaud him someday.

    We have amongst us distinguished Members of Parliament. Though the audience is absolutely very imminent and each one of you matters to me hugely but I don’t believe in taking risks. Therefore I must recognise presence of Members of Parliament. One on the dais, Shri Milind Deora Ji. A stalwart of politics in the State and the Nation, Shri Ashok Chauhan Ji. Shri G.K. Vasan Ji, whose father had handheld me in a similar manner as Murli Deora Ji. Young, energetic, youthful, but in third term, Shrikant Shinde Ji. I hope I don’t miss any parliamentarian otherwise, I may suffer at their hands

    Shri Raghavendra Singh, President Kotak Mahindra Bank is energy capsule has great administrative capacities, but what I gather from him, having known him, for the third generation, is full of positivity. I must recognize presence of some who are present here, Shri Ashok Hinduja Ji is here, We have Shri Uday Kotak Ji.

    I’ll come to Amrita Ji a little later because she is much beyond the spouse of the Chief Minister for me. His Holiness Syedna Sahab Ji.

    Shri Gauranga Das, Shri Gaur Gopal Das, they both are from ISCON. People in Industry, Shri Pranav Adani, Shri Neeraj Bajaj, Mr. Jalas Dhani, and let me tell you, everyone who is present here, I am greatly indebted, but never miss a journalist if he is your friend. You may suffer at his hands forever. I am referring to none other than Sanjay Pugalia, whom I have known for more than four decades. We had such a wonderful cricket match and India is in the finals so why not remember Surya Kumar Yadav? He’s known as Mr. 360 degrees

    Now, Amrita ji. Amrita ji, you have created a problem for me because of a condition I set for Devendra Fadnavis, that I will receive him at Upa-Rashtrapati Niwas as only if he is accompanied by Amrita ji. Every time he makes excuse, please ensure. I would love to receive both of you at Upa-Rashtrapati Niwas, where I have had the great occasion to receive Shinde Ji.

    Now, ladies and gentlemen, I come to the inaugural lecture.

    It is an absolute honour and privilege to deliver the Murli Deora Memorial Lecture Dialogue, dedicated to one of the finest public figures in politics, who nurtured friendships all his life. He bridged the differences and was loved by all. In his life, he missed one thing. He had no adversaries that was his stature. Murali bhai, as fondly reminisced by his peers, exemplified public spirit and dedication.

    He was a statesman in the mould of a politician, a rare blend of foresight and pragmatism. From being the youngest mayor of Bombay, now Mumbai, to serving seven terms in Parliament, he showed deep commitment to democratic values and public service. His belief in dialogue, debate, discussion, deliberation, consensual approach, cooperative approach, coordination, are being missed now.

    Murli Deora will always be remembered for his proactive efforts to save the country from the hazards of smoking. He approached the highest Court of the land, sought affirmative intervention to secure a ban on smoking at public places. Life of Murli Deora Ji was a testament to the idea of leadership, that this idea is not a pedestal but a pilgrimage, a journey of service to the last, the least and the lonely.

    I commend, ladies and gentlemen, Milind Deora, a senior parliamentarian, former Union Minister, and his friends for organising this annual feature as a befitting tribute to Murli Ji. The theme “Leadership and Governance” is indeed thought provoking as also of great contemporaneous relevance.

    Bharat, home to one sixth of humanity, is the oldest, largest and most vibrant and functional democracy. Bharat is the only Nation in the world that has constitutionally structured democratic institutions from village to National level.

    First, I focus on the source of Governance in Democracy. Our Constitution’s Preamble indicates ‘We The People’ as the foundational source and premise of Governance. Preamble of the Constitution also reveals purpose of governance being Justice, Equality, Fraternity for all.  We must appreciate the contours of ‘We The People’  the ultimate repository of sovereignty. A sovereignty that we cannot afford to dilute or to be taken away.

    We the people through electoral platforms constitute Parliament, Legislatures, panchayats, municipalities and elect the President and the Vice- President. The sanctity of this repository of sovereignty is essential for democratic governance. Imagine what will befall us if we are deprived of our sovereignty. The integrity of ‘We the People’ in the present times is being stressed and challenged and the challenge is surfacing in multiple ways. Leadership faces a daunting task to preserve and sustain this.

    Let me advert to some worrying trends. There are many, I am referring only to some. The Nation houses millions of illegal migrants causing a demographic upheaval. Millions of illegal migrants are in this country making a huge demand on our health services, education services. They are depriving our people of employment opportunities. Such elements have alarmingly secured electoral relevance in some areas and their securing electoral relevance is shaping the essence of our democracy. Emerging dangers can be evaluated through historical reference where Nations were swept off their ethnic identity by similar demographic invasions.

    As a matter of fact there are countries where demographic invasion resulted in complete eclipse of ethnicity where ethnicity was in complete majority.

    Ladies and gentlemen, this malaise, far more severe than COVID, is aggravatingly intersected with conversions through allurements, with vulnerable sections trying to be trapped, the marginalised, the tribal, the weaker become easy prey to these temptations and allurements.

    Faith is your own, faith is dictated by conscience. The Indian constitution gives freedom of faith but if this faith is held hostage by temptations, it is according to me, defacing freedom of faith. The concerning objective behind these pernicious designs is to detrimentally vary and ultimately eclipse ‘We the people’s’ identity and secure for themselves a majoritarianism position. I’m sure no one will disagree. This danger has to be thwarted.

    This is too serious an onslaught to be either countenanced or overlooked. Just reflect for a moment the change that has taken place in our demography in the last two decades. Look at some of the areas where impregnable fortresses emerged.

    The theme “Leadership and Governance” is indeed thought provoking as also of great contemporaneous relevance.

    Bharat, home to one sixth of humanity, is the oldest, largest and most vibrant and functional democracy. Bharat is the only nation in the world that has constitutionally structured democratic institutions from village to national level.

    First, I focus on the source of Governance in Democracy. Our Constitution’s Preamble indicates ‘We The People’ as the foundational source and premise of Governance. The Preamble of the Constitution also reveals purpose of governance being Justice, Equality, Fraternity for all.  We must appreciate the contours of ‘We The People’ – the ultimate repository of sovereignty.

    A sovereignty that we cannot afford to dilute or to be taken away.

    The power of ‘We the people’ cannot suffer any sacrilege or dilution. Leadership must engage in overdrive, generating National consensus to preserve the sanctity of ‘We the people’ and work in togetherness, in tandem, to neutralise all misadventures against it.

    ‘We The People’ faces onslaughts from within and without. Forces inimical to Bharat have converged to systemically weaken nationalistic spirit. Constitutional institutions face orchestrated public ridicule as part of political strategy. Even the Presidency isn’t spared. Tarnishing institutions, especially on foreign land, is against our culture, is against our national interest.

    Every citizen has the power of social media. I beseech everyone in the interest of this country to be alive to these trends and make contributions. Anti-national narratives gain evil-inspired momentum. Misinformation aimed at destabilising the nation is rising.

    We had the painful occasion to see it during COVID. The pandemic that shook the world, then a nation of over 1.3 billion faced it by innovative mechanisms initiated by the Prime Minister and it was successfully handled. The entire global fraternity, as I call it, in Bharat, while tackling pandemic at home, lent assistance to hundreds of other countries. But some amongst us did not spare any effort to run us down. Such category of people who are recipe for chaos need to be exposed. Leadership must navigate this challenge through citizens’ mindset response.

    Friends, Bharat is a global beacon of inclusivity and thrives with unity in diversity. This calls for all to prioritise nation first. Commitment to nationalism marks freedom and democracy.

    No interest, partisan, economic, or personal, can justifiably be the ground to compromise national interest.

    Ladies and gentlemen, Issues of constitutional clarity, whether Constitution is categorical, our founding fathers have given us the path. On issues like language, common civil code, seats of divisions are being sown. The response of the government emanates from constitutional

    prescriptions.

    We have to work in overdrive to see that these issues that are premised on our Constitution are not politicised to the detriment of the Nation.

    Leadership must seek national consensus and public awareness to sensitize people of the dangers that are inherent in such approaches. India’s civilizational ethos offer a rich repository of leadership principles that predate modern governance theories by millennia.

    Our Vedic knowledge offers insight for leadership. Leadership in public life requires vision, character, and commitment to nationalism. We have seen what wonders visionary leadership can do in the last 10 years. The nation has navigated from a disturbed scenario of gloom to one of hope and possibility.

    We must always remember, ladies and gentlemen, we are the land of Vedas, Upanishads, Ramayan, Mahabharat, Srimad Bhagavad Gita and the wisdom therein guides us all throughout.

    The Bhagvad Gita provides timeless leadership lessons through Lord Krishna’s counsel to Arjuna.

    “यद्यदाचरति श्रेष्ठस्तत्तदेवेतरो जनः।

    स यत्प्रमाणं कुरुते लोकस्तदनुवर्तते॥”

    “Whatever a great man does, others follow. Whatever standard he sets by his exemplary acts, the world pursues.”

    This verse underscores the profound responsibility of leaders, because they are naturally taken as torchbearers, role models whose actions shape the course of the society.

    But a challenge that is coming to society from these people is very dangerous. An informed mind, having held credible positions, trades on the ignorance of people to monetise politically. And that happened on many occasions in the last ten years. People in authority, who presided over our financial institutions for long, had no qualms in indicating to the world that India can never register economic rise beyond 5%. And we had one and a half times of that, that very year. On such matters, ladies and gentlemen, our memory should not be short.

    Kautilya’s Arthashastra, perhaps the world’s earliest comprehensive treatise on statecraft and governance, offers sophisticated insights on leadership.

    I quote “The king shall consider as good not what pleases himself but what pleases his subject.”

    This ancient wisdom resonates with modern governance principles, where true leadership transcends self-interest to embrace collective welfare. We all have seen this development. We need to continue it.

    Let us reflect on what is there in our civilisational essence and ethos. Vasudhaiva Kutumbakam, Sarvajan Hitaaya, Sarvajan Sukhaaya.

    These are the twin pillars of governance from our scriptures, and look at how it translated for the entire world to know. During India’s presidency of G20, one earth, one family, one future, this was universally accoladed and accepted.

    Friends, democracy flourishes with expression and dialogue. Abhivyakti or samvad are its jewels. One is incomplete without the other. Expression complements dialogue and the other way round. If you believe in the right of expression without taking note of the dialogue, then you miss the point. In the process you indicate, I alone am right, to the exclusion of every other thought. And that is why we have emanated from our scriptures, Anantavada. This is essential. Inalienable facet of good governance, judgemental response to different viewpoints, differing viewpoints, a point that is different than yours, reflects absolutism. And absolutism has no place in democracy. Democracy requires consensual approach.  The other point of view must be considered. And there should be an effort for convergence to an agreed viewpoint.

    Constituent Assembly debates exemplify this approach. For little less than three years, in 18 sessions, Constituent Assembly deliberated very contentious issues, very divisive issues that took recourse to dialogue, debate, discussion, and deliberation.

    There never was an occasion for disruption or disturbance but when we find such a big change taking place. Disruption is being weaponized as a political strategy to make Parliament or legislatures dysfunctional. This does not augur well for the health of democracy and in some situations, it will pronounce death knell of democracy. If these temples of democracy do not perform constitutional ordainment, then people in the country are bound to be concerned and worried.

    I, as Chairman of the Council of States, express my deep anguish. And I appeal to people at large, academia, intellectuals, those in business, trade, commerce and industry, those in media, public servants, to create a mindset to put pressure on Parliamentarians and representatives. You perform because there can be no vacuum in democracy. If the legitimate platform of debate is dysfunctional. People will take to the streets. They have to voice their concerns in one way or the other.

    Ladies and gentlemen, coming to another challenge. Last 10 years, the nation has witnessed exponential economic upsurge, phenomenal infrastructural growth, deep digitization, technological penetration, unknown before. Global institutions are accommodating Bharat as a favorite destination of investment and opportunity. The rural landscape has been revolutionized with every house having toilet, electric connection, pipe water is on the way, gas connection, road connectivity, health and education centers. And people therefore have gravitated to politics of development as indicated by Eknath Shinde Ji. In that scenario, this phenomenal success story during the last 10 years brings with it a great challenge. On one hand, no nation in the world has this kind of growth as Bharat has had in the last 10 years.

    India at the moment on account of this growth is the most aspirational nation in the world. Imagine a country of 1.4 billion with that kind of demographic dividend getting into aspirational mode. The leadership has to perform at rocket speed. Because there can be restiveness, restlessness. And therefore I call upon every person, do not look at the government alone. Your opportunity basket is flattening every day, blossoming. When you look at surface of the sea, or deep sea, or ground surface, or deep ground, or sky, or space.

    India’s performance has increased your participation. Blue economy or space economy, you can take to that area.

    Good governance requires that we prevent problems, we preempt problems. It is not merely solving a problem. We must have a full diagnosis. Why should a problem be there at all? Real-time delivery is quintessential.

    There was a time not long ago when power corridors were infested with lies and agents, corrupt elements, who extra-legally leveraged decision-making. Patronage was the password for a contract or a job. But on account of introduction of technology, expedition service delivery, transparent and accountable mechanism. These power corridors now are fully sanitised. The world is looking to India for generating transparency, accountability, quick service delivery, people-centric policies in their countries

    Ladies and gentlemen, I see one concern, and that concern is across the political spectrum. There is emergence of a new strategy, and the strategy is of appeasement or being placatory.

    Now, election is important in Democracy but not the end of it. Our scriptures have indicated means are as important as the end.

    And the governments, we are in a state where financial position is very strong. The financial capital of the country, a global center for business and trade, but some governments that took recourse to this appeasement and placatory mechanisms are finding it very difficult to sustain in power, but one consequence is very categorical and those in economics know it.

    We have stalwarts of economics sitting here and that is if there is excessive spending on electoral promises, then the state’s ability to invest in infrastructure is correspondingly reduced. This is detrimental to the growth scenario.

    And therefore, I would call upon leadership of all political parties in the interest of democratic values to generate a consensus that engages into such kind of electoral promises that can be performed only at the cost of CAPEX expenditure of the state.

    I should not be misunderstood, ladies and gentlemen, because while the Indian Constitution has given us right of equality, it does provide in Article 14, 15 and 16 an acceptable category of affirmative governance, affirmative action, the reservation for SC, ST, for those who are in the economically weaker section. That is sanctified.

    There are exceptional situations for rural India, for the farmer, where affirmative steps are required to be taken. But this is very distinct from the other aspects I was talking about. This is not placatory or appeasing. It is justifiable economic policy. And therefore, it is good leadership that can take a call, where to draw the line in the fiscal sense in the matter of political foresight and leadership spine.

    There is another aspect on which we need to focus. National debate is required so that we take note of the shift from Democracy to Emocracy. Emotion-driven policies, emotion-driven debates, discourses threaten good governance. Historically, populism is bad economics. And once a leader gets attached to populism it is difficult to get out of the crisis. And therefore, the central factor has to be the good of the people, the largest good of the people, and the lasting good of the people. Empower people to empower themselves rather than empower them momentarily, because that affects their productivity.

    Our institutions are very critical. Our institutions must continue to be relevant. Political leadership must address declining relevance of institutions due to disruption and divisive politics. We have an example before us, as I said earlier. We have the legacy of our Constitution being negotiated through dialogue without acrimony. Today’s leaders should consult this spirit.

    Parliament is much beyond ideological discourse. Its democracy is a temple where discussions should focus on progress and people’s welfare. Sliding parliamentary institutions into irrelevance is a challenge to democracy and our existence. It is worrisome when disruption and disturbance are weaponised, as I said. A dysfunctional Parliament, particularly in Bharat, that is the world’s oldest, largest, and most vibrant democracy, is injustice to the people. Our people deserve much better from our parliamentarians.

    From this sacred place, I urge parliamentarians and legislators to soul-search. Democracy cannot function when expression and dialogue are compromised, while citizens must hold representatives accountable. For eternal vigilance remains freedom’s price. Institutional perimeters must be maintained. Judicial overreach into executive governance disrupts democratic values. I do not mean to reflect more on it, but I affirm governance is the sole prerogative of the executive and this is premised because executive is accountable to the people, to the legislature, every five years or before, the executive has to go to the people to get their approval. And every action taken by the executive is amenable to legislature intervention but if this executive function is performed by any other institution, including judicial, it will be difficult to look for accountability and, furthermore the wherewithal, the information, the database, that help arrive at a decision cannot be available at other institutions other than the executive.

    Leadership is purpose driven and not position of power. It has been said in Upanishad. The Ishavasya Upanishad ईशवस्य उपनिषद counsels: “तेन त्यक्तेन भुञ्जीथाः” (Ten Tyakten bhunjitha)– “Enjoy through renunciation.”

    Our leaders will have to embrace this philosophy. Selfless service in governance by blending India’s timeless wisdom with today’s needs create Tagore’s vision. Rabindranath Tagore has said, I tread where mind is without fear and head is held high.

    “सत्यमेव जयते नानृतम्”, which emanates from Mundaka Upanishad, it says, truth alone must survive and nothing else. The Rig Veda, moving together in harmony principle, must be our North Star.

    ****

    JK/RC/SM

    (Release ID: 2108969) Visitor Counter : 27

    MIL OSI Asia Pacific News –

    March 8, 2025
  • MIL-OSI: Advantage Solutions Reports Fourth Quarter and 2024 Results: Transformation Initiatives Continue to Strengthen the Company

    Source: GlobeNewswire (MIL-OSI)

    Delivered Adjusted EBITDA growth through strong execution and cost discipline

    Continued progress on the transformation to enhance capabilities and increase operating efficiencies

    Management expects growth in Revenues and Adjusted EBITDA in 2025

    ST. LOUIS, March 07, 2025 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) (“Advantage,” “Advantage Solutions,” the “Company,” “we,” or “our”), a leading business solutions provider to consumer goods manufacturers and retailers, today reported financial results for the three and 12 months ended Dec. 31, 2024.

    Unless otherwise noted, results presented in this release are from continuing operations, and comparisons are on a prior year basis. Revenues for the three months were $892.3 million compared with $991.9 million, and net loss was $177.9 million compared to a net loss of $2.7 million. Revenues for the full year were $3,566.3 million compared with $3,900.1 million, and net loss was $378.4 million compared to a net loss of $81.2 million.

    Q4 and 2024 Full Year Financial Highlights

    • Organic revenues(1) in Q4 declined 2.4% and increased 1% for the full year. Adjusted EBITDA increased 8.9% to $94.6 million in Q4 and 1.1% to $356.0 million for the full year compared to the prior year.  
    • Achieved healthy profit performance in 2024 across Experiential Services and Retailer Services, while right-sizing Branded Services to adjust to the demand environment.  
    • The Company remains focused on disciplined capital allocation with 2024 voluntary debt repurchases and share buybacks of approximately $158 million and $34 million, respectively.
    “In 2024, we made solid progress against our ongoing transformation and took operational actions to remain resilient in a dynamic market,” said Advantage CEO Dave Peacock. “We believe we are in a better position today to navigate market uncertainties as we execute on key initiatives designed to increase our operating efficiencies and capabilities, bringing greater speed, precision and insight to our clients, while positioning the company to accelerate growth in the coming years.”

     

       
      Consolidated Financial Summary from Continuing Operations
      (amounts in thousands) Three Months Ended December 31,   Change (Reported)   Organic(1)  
        2024   2023   $   %   %  
      Total Revenues $ 892,285     $ 991,948     $ (99,663 )   (10.0%)   (2.4%)  
      Total Net Loss $ (177,935 )   $ (2,663 )   $ (175,272 )   NMF      
      Total Adjusted EBITDA $ 94,555     $ 86,825     $ 7,730     8.9%      
      Adjusted EBITDA Margin   10.6 %     8.8 %                
                                 
          Year Ended December 31,   Change (Reported)   Organic(1)  
        2024   2023   $   %   %  
      Total Revenues $ 3,566,324     $ 3,900,125     $ (333,801 )   (8.6%)   1.0%  
      Total Net Loss $ (378,404 )   $ (81,211 )   $ (297,193 )   NMF      
      Total Adjusted EBITDA $ 356,014     $ 352,248     $ 3,766     1.1%      
      Adjusted EBITDA Margin   10.0 %     9.0 %                
       

    The complete earnings release can be found here.

    Media Contact: Peter Frost | press@youradv.com
    Investor Contact: Ruben Mella | investorrelations@youradv.com 

    (1)  Excludes ~$76 million and ~$374 million in 4Q’23 and  2023, respectively, related to the deconsolidation of the European JV, which occurred in 4Q’23.
    NMF = Not Meaningful

    Conference Call Details
    Date/Time  Mar. 7, 2025, 8:30 am EST
    Dial-in
    (10 minutes before the call)
    800-225-9448 within the United States or +1-203-518-9708 outside the United States
    Dial-in Code: ADVQ4
    Webcast Available at: ADV 4Q and 2024 FY Earnings Webcast
    Replay 844-512-2921 within the United States or +1-412-317-6671 outside the United States
    Replay ID: 11158219
       

    About Advantage Solutions

    Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

    Included with this press release are the Company’s consolidated and condensed financial statements as of and for the three months and year ended December 31, 2024. These financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K, to be filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2025.

    Forward-Looking Statements

    Certain statements in this press release may be considered forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected future performance of Advantage’s business and projected financial results. Forward-looking statements generally relate to future events or Advantage’s future financial or operating performance. These forward-looking statements generally are identified by the words “may”, “should”, “expect”, “intend”, “will”, “would”, “could”, “estimate”, “anticipate”, “believe”, “predict”, “confident”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Advantage and its management at the time of such statements, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, market-driven wage changes or changes to labor laws or wage or job classification regulations, including minimum wage; future potential pandemics or health epidemics; Advantage’s ability to continue to generate significant operating cash flow; client procurement strategies and consolidation of Advantage’s clients’ industries creating pressure on the nature and pricing of its services; consumer goods manufacturers and retailers reviewing and changing their sales, retail, marketing and technology programs and relationships; Advantage’s ability to successfully develop and maintain relevant omni-channel services for our clients in an evolving industry and to otherwise adapt to significant technological change; Advantage’s ability to maintain proper and effective internal control over financial reporting in the future; Advantage’s substantial indebtedness and our ability to refinance at favorable rates; and other risks and uncertainties set forth in the section titled “Risk Factors” in the Annual Report on Form 10-K to be filed by the Company with the SEC on March 7, 2025, and in its other filings made from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Advantage assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Non-GAAP Financial Measures and Related Information

    This press release includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”), including Adjusted EBITDA from Continuing Operations, Adjusted EBITDA from Discontinued Operations, Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow and Net Debt. These are not measures of financial performance calculated in accordance with GAAP and may exclude items that are significant in understanding and assessing Advantage’s financial results. Therefore, the measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP, and should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Advantage’s presentation of these measures may not be comparable to similarly titled measures used by other companies. Reconciliations of historical non-GAAP measures to their most directly comparable GAAP counterparts are included below.

    Advantage believes these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Advantage’s financial condition and results of operations. Advantage believes that the use of Adjusted EBITDA from Continuing Operations, Adjusted EBITDA from Discontinued Operations, Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow, and Net Debt provide an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing Advantage’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Additionally, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Advantage’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

    Adjusted EBITDA from Continuing Operations, Adjusted EBITDA from Discontinued Operations and Adjusted EBITDA by Segment are supplemental non-GAAP financial measures of our operating performance. Adjusted EBITDA from Continuing Operations and Adjusted EBITDA from Discontinued Operations mean net (loss) income before (i) interest expense (net), (ii) provision for (benefit from) income taxes, (iii) depreciation, (iv) amortization of intangible assets, (v) impairment of goodwill, (vi) changes in fair value of warrant liability, (vii) stock based compensation expense, (viii) equity-based compensation of Karman Topco L.P., (ix) fair value adjustments of contingent consideration related to acquisitions, (x) acquisition and divestiture related expenses, (xi) (gain) loss on divestitures, (xii) restructuring expenses, (xiii) reorganization expenses, (xiv) litigation expenses (recovery), (xv) costs associated with COVID-19, net of benefits received, (xvi) costs associated with (recovery from) the Take 5 Matter, (xvii) EBITDA for economic interests in investments and (xviii) other adjustments that management believes are helpful in evaluating our operating performance. 

    Adjusted EBITDA by Segment means, with respect to each segment, operating income (loss) from continuing operations before (i) depreciation, (ii) amortization of intangible assets, (iii) impairment of goodwill, (iv) stock based compensation expense, (v) equity-based compensation of Karman Topco L.P., (vi) fair value adjustments of contingent consideration related to acquisitions, (vii) acquisition and divestiture related expenses, (viii) restructuring expenses, (ix) reorganization expenses, (x) litigation expenses (recovery), (xi) costs associated with COVID-19, net of benefits received, (xii) costs associated with (recovery from) the Take 5 Matter, (xiii) EBITDA for economic interests in investments and (xiv) other adjustments that management believes are helpful in evaluating our operating performance, in each case, attributable to such segment.

    Adjusted EBITDA Margin means Adjusted EBITDA from Continuing Operations divided by total revenues. 

    Adjusted Unlevered Free Cash Flow represents net cash provided by (used in) operating activities from continuing and discontinued operations less purchase of property and equipment as disclosed in the Statements of Cash Flows further adjusted by (i) cash payments for interest, (ii) cash received from interest rate derivatives, (iii) cash paid for income taxes; (iv) cash paid for acquisition and divestiture related expenses, (v) cash paid for restructuring expenses, (vi) cash paid for reorganization expenses, (vii) cash paid for contingent earnout payments included in operating cash flow, (viii) cash paid for costs associated with COVID-19, net of benefits received, (ix) cash paid for costs associated with the Take 5 Matter, (x) net effect of foreign currency fluctuations on cash, and (xi) other adjustments that management believes are helpful in evaluating our operating performance. Adjusted Unlevered Free Cash Flow as a percentage of Adjusted EBITDA means Adjusted Unlevered Free Cash Flow divided by Adjusted EBITDA from Continuing Operations and Adjusted EBITDA from Discontinued Operations.

    Net Debt represents the sum of current portion of long-term debt and long-term debt, less cash and cash equivalents and debt issuance costs. With respect to Net Debt, cash and cash equivalents are subtracted from the GAAP measure, total debt, because they could be used to reduce the debt obligations. We present Net Debt because we believe this non-GAAP measure provides useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and to evaluate changes to the Company’s capital structure and credit quality assessment.

    Advantage Solutions Inc.
    Reconciliation of Net Income (Loss) to Adjusted EBITDA
    (Unaudited)
     
    Continuing Operations Three Months Ended December 31,     Year Ended December 31,  
    (in thousands) 2024     2023     2024     2023  
    Net loss from continuing operations $ (177,935 )   $ (2,663 )   $ (378,404 )   $ (81,211 )
    Add:                      
    Interest expense, net   32,308       45,851       146,792       165,734  
    Benefit from income taxes from continuing operations   (24,745 )     (21,653 )     (62,787 )     (37,648 )
    Depreciation and amortization   51,622       51,420       204,553       208,856  
    Impairment of goodwill and indefinite-lived asset   175,500       43,500       275,170       43,500  
    Gain on deconsolidation of subsidiaries   —       (58,891 )     —       (58,891 )
    Changes in fair value of warrant liability   (225 )     (873 )     (584 )     (286 )
    Stock-based compensation expense (a)   6,794       9,533       31,019       38,933  
    Equity-based compensation of Karman Topco L.P. (b)   1,381       754       723       (2,524 )
    Fair value adjustments related to contingent consideration related to acquisitions (c)   —       665       1,678       11,152  
    Acquisition and divestiture related expenses (d)   39       142       (1,168 )     3,206  
    Restructuring expenses (e)   5,933       —       30,051       —  
    Reorganization expenses (f)   14,820       17,829       88,800       56,133  
    Litigation (recovery) expenses (g)   482       855       (1,940 )     9,519  
    Costs associated with COVID-19, net of benefits received (h)   —       (2 )     —       3,283  
    Costs associated with the Take 5 Matter, net of (recoveries) (i)   764       63       1,845       (1,380 )
    EBITDA for economic interests in investments (j)   7,817       295       20,266       (6,128 )
    Adjusted EBITDA from Continuing Operations $ 94,555     $ 86,825     $ 356,014     $ 352,248  
                                   
    (a) Represents non-cash compensation expense related to performance stock units, restricted stock units, and stock options under the 2020 Advantage Solutions Incentive Award Plan and the Advantage Solutions 2020 Employee Stock Purchase Plan.
    (b) Represents expenses related to (i) equity-based compensation expense associated with grants of Common Series D Units of Karman Topco L.P. made to one of the sponsors of Advantage and (ii) equity-based compensation expense associated with the Common Series C Units of Karman Topco L.P.
    (c) Represents adjustments to the estimated fair value of our contingent consideration liabilities related to our acquisitions, for the applicable periods.
    (d) Represents fees and costs associated with activities related to our acquisitions, divestitures, and related reorganization activities, including professional fees, due diligence, and integration activities.
    (e) Restructuring charges including programs designed to integrate and reduce costs intended to further improve efficiencies in operational activities and align cost structures consistent with revenue levels associated with business changes. Restructuring expenses include costs associated with the Voluntary Early Retirement Program (“VERP”) and employee termination benefits associated with a reduction-in-force (“2024 RIF”) and other optimization initiatives.
    (f) Represents fees and costs associated with various internal reorganization activities, including professional fees, lease exit costs, severance, and nonrecurring compensation costs.
    (g) Represents legal settlements, reserves, and expenses that are unusual or infrequent costs associated with our operating activities.
    (h) Represents (i) costs related to implementation of strategies for workplace safety in response to COVID-19, including employee-relief fund, additional sick pay for front-line associates, medical benefit payments for furloughed associates, and personal protective equipment; and (ii) benefits received from government grants for COVID-19 relief.
    (i) Represents cash receipts from an insurance policy for claims related to the Take 5 Matter and costs associated with investigation and remediation activities related to the Take 5 Matter, primarily professional fees and other related costs.
    (j) Represents additions to reflect our proportional share of Adjusted EBITDA related to our equity method investments and reductions to remove the Adjusted EBITDA related to the minority ownership percentage of the entities that we fully consolidate in our financial statements.

    The MIL Network –

    March 8, 2025
  • MIL-OSI Economics: Isabel Schnabel: Interview with wochentaz

    Source: European Central Bank

    Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patricia Hecht and Beate Willms on 5 February 2025

    7 March 2025

    Ms Schnabel, do you remember the first time you held money in your hand?

    That must have been during primary school. I often used my pocket money to buy sweets or an ice lolly.

    So money was just a means of payment for you, something that let you buy things?

    Exactly. However, my father placed great importance on me understanding how to deal with money early on – even though as a teenager I wasn’t that interested. He later recommended an apprenticeship at a bank to me when I wasn’t sure what to do after I had finished school. And one of his arguments was that I should learn how to manage money.

    Did you have the impression he was particularly concerned because you were a girl?

    Well, he didn’t make the same suggestion to my brother. That bothered me a little. It was just taken for granted that my brother could deal with money. But, at the end of the day, my father’s recommendation may have been one of the reasons why I ended up in a male-dominated field.

    Is it true that women engage too little with money?

    I do think so. On average, women have a lower level of financial literacy than men. That’s a problem. It can lead to them making suboptimal financial decisions and possibly ending up in financial difficulties. For example, women are more at risk of poverty in old age. So financial planning is particularly important for women.

    Are women themselves to blame for being financially worse off?

    There are many structural reasons, for example interrupted career paths due to becoming a mother or caring for elderly relatives. In addition, women are significantly more likely to work part-time. These factors contribute to women having lower incomes and smaller pensions. The insufficient engagement with financial matters is also linked to traditional gender roles. However, there’s also an element of individual responsibility. Just as one needs to think about one’s health, one needs to also deal with finances. Today, there are plenty of ways to get informed, for example, through podcasts or YouTube channels, to name just a few.

    Today you are one of the people responsible for deciding on the financing conditions for 350 million people in the euro area, because it’s the ECB’s task to keep inflation in check. Out of the 26 members of the Governing Council, only two are women – Christine Lagarde and you. Is the monetary policy that you pursue different from that of the men?

    Research shows that men and women do behave differently when it comes to economic issues. So it is possible that monetary policy may change when more women join the decision-making bodies. What is key here is diversity – also in terms of views and experiences. That’s what makes decision-making more robust.

    How do financial decisions made by men and women differ?

    Women tend to be more risk-averse in their financial decisions and they are more afraid of losses. This, for example, leads them to invest less in the stock market and thus achieve lower returns. Women also have less confidence in their financial decision-making. So improving financial literacy would be particularly important for women.

    Is there a feminist monetary policy?

    To be honest, I haven’t really thought about this. Monetary policy used to focus primarily on the economy as a whole, for instance on aggregate economic activity or consumption. Meanwhile, research has evolved and is now looking more into the underlying heterogeneity. We know, for instance, that poorer people are particularly affected by rising energy and food prices. There are likely also noticeable differences across genders.

    What are you doing to attract more women to the ECB?

    As an institution, we have a keen interest in equal opportunities. This does not always mean a fifty-fifty distribution, but we aim to represent the society for which we make our decisions and to use the entire talent pool available. This is why we have set targets at all levels of hierarchy. In order to achieve those, around half of all new hires and promotions should be women, as long as we are below our targets.

    What else are you doing?

    We try to remove barriers. Often this concerns obstacles like a lack of childcare. The ECB offers good childcare facilities, starting at infancy, and we also have a European School. Additionally, we noticed that women applied for promotions less frequently than men. When reading a vacancy notice, women have more doubts than men whether they fulfill all the criteria perfectly. We are now more explicitly encouraging women to apply. This strategy has proven to be very successful.

    Are salary differences transparent at the ECB?

    We are part of the public service, which means that we follow a clear salary structure that depends on qualifications and tasks. Then there are various allowances, which depend on things like staff members’ family situation but not on their gender.

    How do you deal with the responsibility for decisions that affect the lives of so many people?

    When I learnt in 2019 that I would be nominated for the ECB’s Executive Board, I had just arrived by train at Bonn’s main station. I saw the people on the platform and thought – in the future, I will have to make decisions affecting all these people! That’s a completely different role from that of a researcher, and one that carries a lot of responsibility. I take my job extremely seriously and try to take all decisions to the very best of my knowledge.

    You worked at different universities in Germany and the United States for 15 years, became a professor in 2007, and you were also a member of the German Council of Economic Experts. Throughout your career, you were always one of few women – often the only one, as in the case of the ”wise (wo)men”.

    The higher you go, the fewer women there are. That is still the case. And it shapes the style of communication. An example was the research seminars at university, where all the professors were men and the tone was often very harsh and aggressive. As a young researcher, that bothered me, and I know my female colleagues felt the same.

    How did you deal with it?

    I simply accepted it at the time, but it made me feel insecure. You need to have confidence in your career potential. Some women are better at handling a male-dominated environment than others. But there are also women who have a different type of personality. Some of my female colleagues left the university back then.

    Does the tone change when there is another woman in the room?

    Yes, it changes the entire tone of the conversation. This is especially true when an institution or committee is led by a woman, as is the ECB. Christine Lagarde can set the tone here. I am really impressed by how she manages to create such an inclusive and friendly climate.

    Is there something like female solidarity between the two of you?

    Absolutely. We have a close personal relationship. We also talk about private matters and we trust each other. She listens to my concerns. I can always approach her and she finds time for me even though she is extremely busy.

    Is it different with your male colleagues?

    There are a number of male colleagues with whom I have a similarly trusting relationship, but it is indeed different. There is greater emotional closeness among women.

    How important are women’s networks in your field?

    Very important. It took me a long time to understand that. Today, I am part of many informal women’s networks. It is particularly important to invite younger women and to support each other. Former US Secretary of State, Madeleine Albright, once said there is a special place in hell for women who don’t help other women. We must support each other rather than seeing each other primarily as competitors. I myself benefited from having a female mentor who later became a colleague at the University of Mainz.

    You do that too. During the pandemic, your colleague Isabella Weber – a left-leaning economist from the University of Massachusetts who was then in her mid-30s – suggested tackling inflation with strategic price controls. As this contradicted the textbooks, Nobel laureate Paul Krugman, among others, publicly dismissed her idea as “truly stupid”.

    I found this treatment of Isabella Weber intolerable. And I had the impression that a man would have been treated differently. That simply shouldn’t be the case. Although I didn’t share the view on price controls, we must be open to consider unconventional ideas. It was probably also about maintaining power and thought leadership. In general, I would find it disastrous if women were discouraged from challenging the mainstream because of this.

    Have you yourself ever felt that people were treating you differently because you are a woman?

    I experience this constantly on social media. I am sometimes besieged with sexist comments and I then mute those people. But I don’t experience this in my immediate professional environment.

    But did you suffer from any disadvantages because of being a woman?

    At the beginning of my career, during my studies, I was firmly convinced that it didn’t matter whether one was a man or a woman. I thought I just had to be good enough, and then I would make it. At that time, I wasn’t particularly positive about the promotion of women. It took a while before I realised that there were a number of gender-specific barriers. For example, during my entire university studies in Germany, I didn’t have a single female professor. So I had no role models. These issues became more obvious when I had children. I have three daughters, which means that I was either pregnant or breastfeeding for around six years. The time between the ages of 32 and 38 were very exhausting for me. And that was precisely the critical phase for progressing in an academic career. When I arrived at the office completely rushed in the morning, I already had my first major task behind me. I sometimes struggled with that. Travelling also wasn’t easy when the children were small. I wasn’t very keen on it either, as I wanted to be with my family.

    How did you manage it nonetheless?

    My doctoral advisor Martin Hellwig played a major role in this. He had helped me to build up networks already during my doctoral studies – before I had children. At the time, I hadn’t yet realised how important that was. When the children came, he gave me complete flexibility.

    How soon did you return to work?

    Very quickly. With the first child, I was back at my computer right away. With the second, I took my daughter to the office in the beginning. By the time of the third child, I was already a professor, so I brought her with me when commuting by train from Bonn to Mainz during the breastfeeding period. Just getting the stroller into those old trains was a real challenge. All of the commuters knew me – the woman with the baby! At university, I had many people to support me. I sometimes recruited students to look after my baby while I was teaching. I even breastfed during office hours.

    Did your husband bring the children to work too?

    No, because I was breastfeeding. But it wouldn’t have been possible without him. My husband has always been very involved in our family work, even more so than me in recent years. I now work in Frankfurt, but our family is still in Bonn. Besides, we have had a wonderful nanny for over 20 years, who has been with us every day and helped us tremendously.

    Not everyone can afford a nanny.

    At the beginning, almost an entire salary went to that. But it’s sometimes overlooked that paid childcare is also an investment. It allows you to stay on your career path. And I always knew that my children were very well taken care of. That’s why I rarely had a guilty conscience.

    Did you have to make compromises because of your dual role as a mother and as an economist?

    Constantly. One must not have the expectation of being absolutely perfect in each role at all times. Otherwise, you will fail to live up to your own standards. But that wasn’t always easy for me.

    What did you have to compromise on?

    Mostly on my personal needs – I didn’t have much time for myself. And the same was true for my husband. But we also learned to be efficient. In the evenings, we would sometimes put our children to bed with their tights on to speed things up in the morning.

    Have you ever been accused of being a “raven mother” (bad mother)?

    Subtly, yes. But I didn’t take on that role. The paediatrician and author Remo Largo once said, in essence, that the most important thing was to be happy as a parent and a good role model. Children imitate what they see. And I believe I am a good mother to my daughters.

    It took you a few years to call yourself a feminist. Where do your daughters stand on that today?

    My daughters grew up knowing that women can achieve anything they want. Of course they complained from time to time that I wasn’t at home as much as other mothers. But they really like what I do and take it as motivation. My daughters are true feminists who will speak up when they are disadvantaged. I wouldn’t have had the confidence to do that at their age, but of course the world has also changed in that regard.

    And how do you introduce them to the topic of money?

    My husband and I are both economists and we have often talked about how to deal with money. But they tended to find financial investment rather tedious. Today, two of my daughters are studying economics, so they have automatically come closer to these topics.

    Mark Zuckerberg recently said that companies needed more “masculine energy”. Do you find that worrying, also in relation to your daughters?

    That worries me a lot. There’s a risk that society will go backwards, even though we are far from where we want to be. In the United States, this is currently more pronounced than it is here. But it’s spilling over. For the ECB, I can say that we stand firmly behind our diversity and inclusion strategy.

    MIL OSI Economics –

    March 8, 2025
  • MIL-OSI Europe: Isabel Schnabel: Interview with wochentaz

    Source: European Central Bank

    Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patricia Hecht and Beate Willms on 5 February 2025

    7 March 2025

    Ms Schnabel, do you remember the first time you held money in your hand?

    That must have been during primary school. I often used my pocket money to buy sweets or an ice lolly.

    So money was just a means of payment for you, something that let you buy things?

    Exactly. However, my father placed great importance on me understanding how to deal with money early on – even though as a teenager I wasn’t that interested. He later recommended an apprenticeship at a bank to me when I wasn’t sure what to do after I had finished school. And one of his arguments was that I should learn how to manage money.

    Did you have the impression he was particularly concerned because you were a girl?

    Well, he didn’t make the same suggestion to my brother. That bothered me a little. It was just taken for granted that my brother could deal with money. But, at the end of the day, my father’s recommendation may have been one of the reasons why I ended up in a male-dominated field.

    Is it true that women engage too little with money?

    I do think so. On average, women have a lower level of financial literacy than men. That’s a problem. It can lead to them making suboptimal financial decisions and possibly ending up in financial difficulties. For example, women are more at risk of poverty in old age. So financial planning is particularly important for women.

    Are women themselves to blame for being financially worse off?

    There are many structural reasons, for example interrupted career paths due to becoming a mother or caring for elderly relatives. In addition, women are significantly more likely to work part-time. These factors contribute to women having lower incomes and smaller pensions. The insufficient engagement with financial matters is also linked to traditional gender roles. However, there’s also an element of individual responsibility. Just as one needs to think about one’s health, one needs to also deal with finances. Today, there are plenty of ways to get informed, for example, through podcasts or YouTube channels, to name just a few.

    Today you are one of the people responsible for deciding on the financing conditions for 350 million people in the euro area, because it’s the ECB’s task to keep inflation in check. Out of the 26 members of the Governing Council, only two are women – Christine Lagarde and you. Is the monetary policy that you pursue different from that of the men?

    Research shows that men and women do behave differently when it comes to economic issues. So it is possible that monetary policy may change when more women join the decision-making bodies. What is key here is diversity – also in terms of views and experiences. That’s what makes decision-making more robust.

    How do financial decisions made by men and women differ?

    Women tend to be more risk-averse in their financial decisions and they are more afraid of losses. This, for example, leads them to invest less in the stock market and thus achieve lower returns. Women also have less confidence in their financial decision-making. So improving financial literacy would be particularly important for women.

    Is there a feminist monetary policy?

    To be honest, I haven’t really thought about this. Monetary policy used to focus primarily on the economy as a whole, for instance on aggregate economic activity or consumption. Meanwhile, research has evolved and is now looking more into the underlying heterogeneity. We know, for instance, that poorer people are particularly affected by rising energy and food prices. There are likely also noticeable differences across genders.

    What are you doing to attract more women to the ECB?

    As an institution, we have a keen interest in equal opportunities. This does not always mean a fifty-fifty distribution, but we aim to represent the society for which we make our decisions and to use the entire talent pool available. This is why we have set targets at all levels of hierarchy. In order to achieve those, around half of all new hires and promotions should be women, as long as we are below our targets.

    What else are you doing?

    We try to remove barriers. Often this concerns obstacles like a lack of childcare. The ECB offers good childcare facilities, starting at infancy, and we also have a European School. Additionally, we noticed that women applied for promotions less frequently than men. When reading a vacancy notice, women have more doubts than men whether they fulfill all the criteria perfectly. We are now more explicitly encouraging women to apply. This strategy has proven to be very successful.

    Are salary differences transparent at the ECB?

    We are part of the public service, which means that we follow a clear salary structure that depends on qualifications and tasks. Then there are various allowances, which depend on things like staff members’ family situation but not on their gender.

    How do you deal with the responsibility for decisions that affect the lives of so many people?

    When I learnt in 2019 that I would be nominated for the ECB’s Executive Board, I had just arrived by train at Bonn’s main station. I saw the people on the platform and thought – in the future, I will have to make decisions affecting all these people! That’s a completely different role from that of a researcher, and one that carries a lot of responsibility. I take my job extremely seriously and try to take all decisions to the very best of my knowledge.

    You worked at different universities in Germany and the United States for 15 years, became a professor in 2007, and you were also a member of the German Council of Economic Experts. Throughout your career, you were always one of few women – often the only one, as in the case of the ”wise (wo)men”.

    The higher you go, the fewer women there are. That is still the case. And it shapes the style of communication. An example was the research seminars at university, where all the professors were men and the tone was often very harsh and aggressive. As a young researcher, that bothered me, and I know my female colleagues felt the same.

    How did you deal with it?

    I simply accepted it at the time, but it made me feel insecure. You need to have confidence in your career potential. Some women are better at handling a male-dominated environment than others. But there are also women who have a different type of personality. Some of my female colleagues left the university back then.

    Does the tone change when there is another woman in the room?

    Yes, it changes the entire tone of the conversation. This is especially true when an institution or committee is led by a woman, as is the ECB. Christine Lagarde can set the tone here. I am really impressed by how she manages to create such an inclusive and friendly climate.

    Is there something like female solidarity between the two of you?

    Absolutely. We have a close personal relationship. We also talk about private matters and we trust each other. She listens to my concerns. I can always approach her and she finds time for me even though she is extremely busy.

    Is it different with your male colleagues?

    There are a number of male colleagues with whom I have a similarly trusting relationship, but it is indeed different. There is greater emotional closeness among women.

    How important are women’s networks in your field?

    Very important. It took me a long time to understand that. Today, I am part of many informal women’s networks. It is particularly important to invite younger women and to support each other. Former US Secretary of State, Madeleine Albright, once said there is a special place in hell for women who don’t help other women. We must support each other rather than seeing each other primarily as competitors. I myself benefited from having a female mentor who later became a colleague at the University of Mainz.

    You do that too. During the pandemic, your colleague Isabella Weber – a left-leaning economist from the University of Massachusetts who was then in her mid-30s – suggested tackling inflation with strategic price controls. As this contradicted the textbooks, Nobel laureate Paul Krugman, among others, publicly dismissed her idea as “truly stupid”.

    I found this treatment of Isabella Weber intolerable. And I had the impression that a man would have been treated differently. That simply shouldn’t be the case. Although I didn’t share the view on price controls, we must be open to consider unconventional ideas. It was probably also about maintaining power and thought leadership. In general, I would find it disastrous if women were discouraged from challenging the mainstream because of this.

    Have you yourself ever felt that people were treating you differently because you are a woman?

    I experience this constantly on social media. I am sometimes besieged with sexist comments and I then mute those people. But I don’t experience this in my immediate professional environment.

    But did you suffer from any disadvantages because of being a woman?

    At the beginning of my career, during my studies, I was firmly convinced that it didn’t matter whether one was a man or a woman. I thought I just had to be good enough, and then I would make it. At that time, I wasn’t particularly positive about the promotion of women. It took a while before I realised that there were a number of gender-specific barriers. For example, during my entire university studies in Germany, I didn’t have a single female professor. So I had no role models. These issues became more obvious when I had children. I have three daughters, which means that I was either pregnant or breastfeeding for around six years. The time between the ages of 32 and 38 were very exhausting for me. And that was precisely the critical phase for progressing in an academic career. When I arrived at the office completely rushed in the morning, I already had my first major task behind me. I sometimes struggled with that. Travelling also wasn’t easy when the children were small. I wasn’t very keen on it either, as I wanted to be with my family.

    How did you manage it nonetheless?

    My doctoral advisor Martin Hellwig played a major role in this. He had helped me to build up networks already during my doctoral studies – before I had children. At the time, I hadn’t yet realised how important that was. When the children came, he gave me complete flexibility.

    How soon did you return to work?

    Very quickly. With the first child, I was back at my computer right away. With the second, I took my daughter to the office in the beginning. By the time of the third child, I was already a professor, so I brought her with me when commuting by train from Bonn to Mainz during the breastfeeding period. Just getting the stroller into those old trains was a real challenge. All of the commuters knew me – the woman with the baby! At university, I had many people to support me. I sometimes recruited students to look after my baby while I was teaching. I even breastfed during office hours.

    Did your husband bring the children to work too?

    No, because I was breastfeeding. But it wouldn’t have been possible without him. My husband has always been very involved in our family work, even more so than me in recent years. I now work in Frankfurt, but our family is still in Bonn. Besides, we have had a wonderful nanny for over 20 years, who has been with us every day and helped us tremendously.

    Not everyone can afford a nanny.

    At the beginning, almost an entire salary went to that. But it’s sometimes overlooked that paid childcare is also an investment. It allows you to stay on your career path. And I always knew that my children were very well taken care of. That’s why I rarely had a guilty conscience.

    Did you have to make compromises because of your dual role as a mother and as an economist?

    Constantly. One must not have the expectation of being absolutely perfect in each role at all times. Otherwise, you will fail to live up to your own standards. But that wasn’t always easy for me.

    What did you have to compromise on?

    Mostly on my personal needs – I didn’t have much time for myself. And the same was true for my husband. But we also learned to be efficient. In the evenings, we would sometimes put our children to bed with their tights on to speed things up in the morning.

    Have you ever been accused of being a “raven mother” (bad mother)?

    Subtly, yes. But I didn’t take on that role. The paediatrician and author Remo Largo once said, in essence, that the most important thing was to be happy as a parent and a good role model. Children imitate what they see. And I believe I am a good mother to my daughters.

    It took you a few years to call yourself a feminist. Where do your daughters stand on that today?

    My daughters grew up knowing that women can achieve anything they want. Of course they complained from time to time that I wasn’t at home as much as other mothers. But they really like what I do and take it as motivation. My daughters are true feminists who will speak up when they are disadvantaged. I wouldn’t have had the confidence to do that at their age, but of course the world has also changed in that regard.

    And how do you introduce them to the topic of money?

    My husband and I are both economists and we have often talked about how to deal with money. But they tended to find financial investment rather tedious. Today, two of my daughters are studying economics, so they have automatically come closer to these topics.

    Mark Zuckerberg recently said that companies needed more “masculine energy”. Do you find that worrying, also in relation to your daughters?

    That worries me a lot. There’s a risk that society will go backwards, even though we are far from where we want to be. In the United States, this is currently more pronounced than it is here. But it’s spilling over. For the ECB, I can say that we stand firmly behind our diversity and inclusion strategy.

    MIL OSI Europe News –

    March 8, 2025
  • MIL-OSI Security: Public Servants Plead Guilty to Covid-19 Relief Fraud

    Source: United States Department of Justice (National Center for Disaster Fraud)

    MIAMI – Angelo Stephen, a Federal Bureau of Prisons (BOP) Correctional Officer, and George Arestuche, a Miami-Dade County Aviation Department employee, have pled guilty to federal charges in separate federal cases for defrauding Covid-19 pandemic relief programs.  

    Stephen pled guilty this week before Chief U.S. District Judge Cecila M. Altonaga to wire fraud in connection with his fraudulent applications for two Paycheck Protection Program (PPP) loans and one Economic Injury Disaster Loan (EIDL). He also admitted to wire fraud for his participation in two bank account takeover schemes.

    Arestuche pled guilty to conspiracy to commit wire fraud in connection with his receipt of one EIDL and one EIDL advance. Senior U.S. District Judge Paul C. Huck accepted Arestuche’s guilty plea this week.

    Angelo Stephen

    During his change of plea hearing, Stephen admitted that in an EIDL application he submitted to the Small Business Association (SBA), he falsely claimed to be an independent contractor and sole owner of a 10-employee business that did event planning and entertainment services. He also admitted that in this EIDL application, he falsely certified that for the applicable 12-month period, his business had gross revenues of approximately $62,018 and a cost of goods sold of $0. Stephen obtained from the SBA $20,000 in EIDL funds, to which he was not entitled.  

    Stephen also admitted at the change of plea hearing that he submitted false information in two PPP loan applications. In both applications (one submitted in April 2021, the second a month later), Stephen falsely claimed that he owned a business that grossed $106,554 in income in 2020, submitting a fake IRS Form 1040 Schedule C to support his fraudulent requests. Stephen received separate $20,833 PPP loans from two different SBA-approved lenders for the non-existent business.   

    Finally, at the change of plea, Stephen also admitted his role in two bank account takeover schemes. On March 30, 2023, after his first scheme, Stephen received a $20,000 wire transfer from the account of an unsuspecting victim in Virginia, and thereafter quickly withdrew all illegally obtained money through a series of cash withdrawals and through Zelle transfers to others.  In the second takeover scheme, Stephen and his accomplices obtained new checks from the credit union account of a different unsuspecting victim. Stephen then used one of those checks to obtain $8,500 in cash that he was not entitled to. 

    Stephen is scheduled for sentencing on May 22, 2025, at 8:30 a.m. before Chief U.S. District Judge Altonaga in Miami, Florida, where he faces a possible maximum sentence of up to 20 years in prison.

    George Arestuche

    According to the facts admitted at his change of plea, George Arestuche and a co-conspirator devised a scheme to defraud the SBA by submitting a false and fraudulent application to allow Arestuche to fraudulently obtain an EIDL loan in exchange for Arestuche paying the co-conspirator a large fee.

    To carry out this conspiracy, on July 9, 2020, Arestuche’s submitted to the SBA a false and fraudulent EIDL application on Arestuche’s behalf claiming that Arestuche was an independent contractor and the 100% owner of an “Automotive Repair” business operating under the legal and DBA name “george.”  That EIDL application falsely certified that for the 12-month period prior to January 31, 2020, “george” had gross revenues of $600,000, a cost of goods sold of $184,000, and 10 employees.  In reality, Arestuche was not an independent contractor and did not own any type of business.  This EIDL application was supported by a fraudulent 2019 IRS Form 1040 and Schedule C in Arestuche’s name that falsely claimed that he had a “mechanic” business that had gross receipts of $725,000 and earned a net profit of $706,151.  As a result of this false and fraudulent EIDL application, Arestuche obtained from the SBA $149,900 in EIDL proceeds and a $10,000 EIDL advance, and he subsequently paid his co-conspirator $17,275 for helping him fraudulently obtain this money from the SBA.

    Arestuche is scheduled for sentencing on May 12, 2025, at 11:00 a.m. before Senior U.S. District Judge Paul C. Huck in Miami, where he faces a possible maximum sentence of up to 5 years in prison.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida, Special Agent in Charge Andrew Hartwell of the Department of Justice Office of Inspector General’s Fraud Detection Office (DOJ-OIG), Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region, Acting Special Agent in Charge Brett Skiles of the FBI, Miami Field Office, and Inspector General Felix Jimenez of the Miami-Dade County Office of Inspector General (MDC-OIG) announced the guilty pleas.

    DOJ-OIG and SBA-OIG investigated the Stephen case.  SBA-OIG and the FBI’s Miami Area Corruption Task Force, which includes task force officers from the MDC-OIG, investigated the Arestuche case. 

    Assistant U.S. Attorney Edward N. Stamm is prosecuting both cases.  Assistant U.S. Attorney Annika Miranda is handling forfeiture matters on the Stephen case while Assistant U.S. Attorney Gabrielle Raemy Charest-Turken is handling forfeiture matters on the Arestuche case.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide Economic Injury Disaster Loans (“EIDLs”) to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

    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, among other methods, 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.

    On September 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    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 (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case numbers 25-cr-20014 and 25-cr-20001.

    ###

    MIL Security OSI –

    March 7, 2025
  • MIL-OSI United Kingdom: City to join national Covid-19 Day of Reflection

    Source: City of Wolverhampton

    The day will remember the pandemic, and its impact on communities across the UK, with people invited to come together to reflect on this unique period of our history as well as their own experiences.

    The day will be an opportunity for the public to remember and commemorate those who lost their lives during the pandemic, reflect on the sacrifices made and the impact it had on their daily lives, and pay tribute to the work of health and social care staff, frontline workers, researchers and all those who volunteered and showed acts of kindness during this unprecedented time.

    Mayor of Wolverhampton Councillor Linda Leach will be among those taking part and said: “This is our opportunity to remember those who lost their lives to Covid-19, and to reflect on the impact the pandemic had on every single one of us.

    “It is also a time to think about, and give thanks to, the sacrifices made by so many people – and the hard work and dedication of everyone, not least our wonderful key workers, who helped get our city through those most difficult of days.

    “We went through tough times, we were separated from friends and loved ones. Tragically, we lost friends and loved ones.

    “But our city’s motto has always been Out of Darkness Cometh Light and, through those dark days, as a city, we came together.

    “We found new heroes, we found ways to make each other smile but, most of all, we looked after our own.

    “Places of worship across the city will be pausing for moments of reflection during their services this weekend, and I am sure you will join me in taking time to reflect – and being truly thankful for – everyone’s incredible efforts to get us through what was an unprecedented experience for all of us, and one we never want to go through again.”

    The Covid-19 Day of Reflection is one of the 10 recommendations set out by the UK Commission on Covid Commemoration.

    MIL OSI United Kingdom –

    March 7, 2025
  • MIL-Evening Report: Cyclone Alfred is already retraumatising people who’ve lived through other disasters. I’m one of them

    Source: The Conversation (Au and NZ) – By Erin Smith, Associate Professor and Discipline Lead (Paramedicine), La Trobe University

    In 2011, as Cyclone Yasi approached the Queensland coast, I sat in my home in the tropical far north of the state and worried what the future would hold. Would my family be OK? Would our home be destroyed? Would my workplace be damaged and my job uncertain? Would my community be devastated?

    Now, as we wait for Cyclone Alfred to make landfall, I am watching on from my new home in Melbourne. I am safe. But last night, I couldn’t sleep. I’m having intrusive thoughts, remembering what it was like when Cyclone Yasi barrelled into us. I feel agitated, distracted and anxious. The news coverage of the impending cyclone makes my heart race, so I have turned off the television.

    As someone who has researched the impact of disasters for more than 20 years, I recognise what I am feeling now is similar to how I felt all those years ago. Again, I am experiencing the normal range of stress reactions common after living through a disaster, even though I am not directly impacted by this one.

    This is known as retraumatisation, where we re-live stress reactions experienced as a result of a traumatic event when faced with a new, similar incident.

    As a researcher in emergency responses to a broad range of disasters, I understand why I am feeling like this.

    However, many people may not realise the stress they are experiencing right now is related to an earlier disaster or traumatic event in their life. That earlier disaster could be another cyclone, or a different event, such as a flood or bushfire.

    Some signs and symptoms of retraumatisation might be:

    • intrusive thoughts (for example, I keep remembering my fear of the predicted tidal surge of water rushing up at me in the darkness as Cyclone Yasi made landfall)

    • nightmares and having trouble sleeping

    • hypervigilance (for example, feeling “on edge” all day)

    • sensitivity to triggers (for example, the sound of intense wind and windows creaking can trigger intense feelings because they remind me of the night we lived through Cyclone Yasi passing over the top of us)

    • feeling isolated

    • thinking about, planning or attempting suicide

    • panic atacks

    • using/abusing substances, such as alcohol and other drugs

    • increase in unhealthy behaviours (for example, being more prone to aggression or violence).

    For many of us, Cyclone Alfred is awakening memories and feelings, and the re-emergence of those stress reactions can be confronting. It can feel like re-opening a wound that hasn’t quite healed.

    Disaster upon disaster take their toll

    We are now beginning to understand the effects of being exposed to multiple disasters – bushfires, cyclones, floods, and let’s not forget the COVID pandemic – that erode our resilience.

    This type of multiple exposure influences our feelings of safety, security and even our hope for the future, all increasing the risk of poorer mental health.

    For people with post-traumatic stress disorder (PTSD), retraumatisation may cause people to relive their past traumas in intense detail. It can feel like past traumatic events are happening all over again.

    What to do now, and in the future

    However, there are steps we can take to help build our resilience in the face of multiple disasters.

    For now

    Right now, it is useful to understand how we respond to trauma. We may notice a range of physical responses (for example, my heart has been racing), psychological reactions (for example, I am feeling more anxious than usual) and social impacts (for example, I cancelled dinner plans last night as I did not want to leave the house).

    It is also important to stay connected to our usual social supports, as they can act as a great buffer to stress reactions.

    So, even though I stayed home last night, I was on a group chat discussing the Real Housewives of Sydney with friends, which helped reduce both the physical and psychological stress reactions I was experiencing.

    Staying connected to friends, family, neighbours and other supports will help.
    Caftor/Shutterstock

    For later

    In the longer term, it is useful to develop and implement a self-care plan that includes activities to support our emotional, physical and spiritual health.

    Self-care means taking the time to do things that help your wellbeing and improve your physical health and mental health. This can help you manage the stress reactions that may emerge as part of retraumatisation. Even small acts of self-care in your daily life can have a big impact.

    Today, I made the time to go for a short walk in the park and listened to some of my favourite music. It helped in the moment, but it also helps me in the longer term when I routinely include these small acts of self-care in my daily life.

    We also need to consider the first responders and volunteers who will be preparing for Cyclone Alfred, and communities devastated by similar disasters in the past (for example, the 2022 floods in Lismore, New South Wales). With their exposure to cumulative trauma, these groups will need ongoing, focused support.

    Most importantly, we need to understand that the way we are feeling is normal. Be patient with yourself and look for small opportunities to take control of your reactions.

    I am keeping the television turned off (except when the Real Housewives is on).

    Some resources

    The website blueknot, from the National Centre of Excellence for Complex Trauma, gives more information about how we respond to trauma. The Black Dog Institute guides you through developing a self-care plan.

    If you are a first responder, you can access free treatment and support through a range of providers, including: Phoenix Australia, Fortem Australia and the Black Dog Institute.


    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

    Erin Smith 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. Cyclone Alfred is already retraumatising people who’ve lived through other disasters. I’m one of them – https://theconversation.com/cyclone-alfred-is-already-retraumatising-people-whove-lived-through-other-disasters-im-one-of-them-251701

    MIL OSI Analysis – EveningReport.nz –

    March 7, 2025
  • MIL-OSI USA: Shaheen Introduces Bipartisan, Bicameral Proposal to Make Child Care More Affordable

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) introduced the Child Care Availability and Affordability Act and the Child Care Workforce Act—bipartisan, bicameral legislation that together form a bold proposal to make child care more affordable and accessible by strengthening existing tax credits to lower child care costs and increase the supply of child care providers. The bill was co-led by U.S. Senators Katie Britt (R-AL), Tim Kaine (D-VA) and Joni Ernst (R-IA). U.S. Representatives Mike Lawler (NY-17) and Salud Carbajal (CA-24) introduced a companion bill in the U.S. House of Representatives. The bill includes language from Shaheen’s Right Start Child Care and Education Act legislation.
    “I hear time and again from parents in New Hampshire who are desperate for reliable, affordable child care options, but for too many families, their options are limited at best and nonexistent at worst,” said Senator Shaheen. “For an issue that impacts so many families in every corner of every state, it’s time we find a bipartisan path forward, which is why I’m proud to join my colleagues on this commonsense, bipartisan proposal to lower child care costs, increase wages for the workforce and ensure providers can keep their doors open.”
    Additional cosponsors of the Child Care Availability and Affordability Act include U.S. Senators John Curtis (R-UT), Angus King (I-ME), Shelley Moore Capito (R-WV), Kirsten Gillibrand (D-NY) and Susan Collins (R-ME). The bill text can be viewed here.
    The Child Care Workforce Act is also cosponsored by U.S. Senators King and Gillibrand. The proposal contains two bills because one proposes changes to existing tax credits, falling under the jurisdiction of the Senate Finance Committee, and the other authorizes a new pilot program, falling under the jurisdiction of the Senate HELP Committee. The bill text can be viewed here.
    The worsening child care crisis is holding families, child care workers, businesses and our entire economy back. Across the country, too many families cannot find—or afford—the high-quality child care they need so parents can go to work and children can thrive. Over the last few decades, the cost of child care has increased by 263%, forcing families—and mothers, in particular—to make impossible choices.
    More than half of all families live in child care deserts. Meanwhile, child care workers are struggling to make ends meet on their poverty-level wages and child care providers are struggling to simply stay afloat. The crisis—which was exacerbated by the pandemic—is costing our economy approximately $122 billion in economic losses each year.
    New national polling in conjunction with First Five Years Fund (FFYF) reflects overwhelming bipartisan support for the Child and Dependent Care Tax Credit (CDCTC), with 86% of voters in support of increasing the CDCTC. Additionally, 79% of Republican voters say they want President Trump and Republicans in Congress to do more to help hardworking families afford child care with 72% saying investing in child care is a good use of tax dollars. According to polling from Fabrizio Ward, 63% of all voters say helping working class families is their top priority when it comes to changes in tax policy.
    Senator Shaheen has been a leader in advocating for more affordable and accessible child care, including by delivering more than $77 million to New Hampshire through the American Rescue Plan and other COVID relief laws to the Granite State. Since then, Shaheen had urged state and local officials to distribute those federal funds, especially in communities that lack access to child care. In August, Shaheen visited Colebrook Community Child Care Center to discuss challenges and solutions to the child care crisis in rural communities, and in October Shaheen hosted Acting Secretary of Labor Julie Su for a discussion on child care and workforce challenges in Brentwood. 
    Last year, Shaheen introduced the Right Start Child Care and Education Act, which would make child care more affordable and accessible for working families by reforming the federal tax code. She also introduced the bipartisan Expanding Child Care for Military Families Act. Additionally, she helped introduce the Child and Dependent Care Tax Credit Enhancement Act to permanently expand the Child and Dependent Care Tax Credit, which helps households offset their child care costs.
    Last April, Shaheen convened a hearing as former Chair of the U.S. Senate Small Business and Entrepreneurship Committee to hear testimony from expert witnesses on the child care industry’s broken business model and what Congress can do to support small business child care providers, employees and families. A subsequent U.S. Small Business Administration (SBA) Office of Advocacy issue brief, in response to data challenges raised at the hearing, details the role of small businesses in the child care industry and fills data gaps in child care industry research.
    Last Congress, Shaheen helped introduce the Child Care Stabilization Act, which would provide additional federal child care stabilization funding—which was provided in the American Rescue Plan—and ensure that child care providers can keep their doors open and continue serving children and families in every part of the country. Shaheen joined Senator Patty Murray (D-WA) to introduce the Child Care for Working Families Act, which would provide affordable child care for all working families, expand access to preschool programs and increase wages for early childhood workers. She also joined U.S. Senators Amy Klobuchar (D-MN) and Dan Sullivan (R-AK) in reintroducing the bipartisan Childcare Workforce and Facilities Act to address the national shortage of affordable, quality child care, especially in rural communities. In the government funding bill for fiscal year (FY) 2024, Senator Shaheen worked to include a $1 billion increase for early education, including a $725 million increase to $8.75 billion for Child Care and Development Block Grants to states and a $275 million increase to Head Start4. The law additionally included $315 million for Preschool Development Grants.
    The Child Care Availability and Affordability Act is endorsed by A+ Education Partnership, Alabama Arise, Alabama School Readiness Alliance, American Federation of Teachers (AFT), Bipartisan Policy Center Action (BPCA), Business Council of Alabama, Care.com, Chamber of Progress, Chamber RVA, Child Care Aware of America (CCAoA), Child Care Aware of Virginia, Children’s Institute, Early Care & Education Consortium (ECEC), Educare Learning Network, FFYF, Gingerbread Kids Academy, Hampton Roads Chamber, Healthy Kids AL, KinderCare Learning Companies, Manufacture Alabama, Metrix IQ, Mobile Area Education Foundation, National Association of Women Business Owners (NAWBO), National Child Care Association (NCCA), Northern Virginia Chamber of Commerce (NVC), Save the Children, Small Business Majority, Start Early, Third Way, U.S. Chamber of Commerce, Virginia Chamber of Commerce, Virginia Early Childhood Foundation (VECF), VOICES for Alabama’s Children and Voices for Virginia’s Kids. In addition to those groups, the Child Care Workforce Act is endorsed by the National Association for Family Child Care (NAFCC), National Association for the Education of Young Children (NAEYC) and ZERO TO THREE.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI New Zealand: Speech to the BusinessNZ Health Forum

    Source: New Zealand Government

    Check against delivery.
     
    Kia ora koutou. Thank you, Phil, for the opportunity to speak to you today to the Business NZ Health Forum. Since my appointment as Health Minister, I’ve spent time where it matters most – on the frontline, listening to the people our health system is here to serve. Let me tell you about just a few stories I have heard.There are many positive stories of people receiving exceptional healthcare: 
     

    A Tauranga woman who recently shared her gratitude with me that her chemotherapy drug is now funded because of the Government’s record investment in new cancer drugs.  
    A young person in distress, whose family isn’t sure what to do, being helped by compassionate youth mental health services to work through how to cope.  
    A security guard I met who said he went to an Emergency Department and was seen and discharged in 2.5 hours.

    Review hospital systems from admission to discharge, ensuring patients flow smoothly.

     
    But some are more grim:
     

    An elderly man who requires hip and knee surgery and has been living in pain while they wait for their operations. 
    A cancer survivor who is overdue for their colonoscopy. 
    A person who is worried about a friend that has been waiting for surgery for over for 15 months, only to find out it has been cancelled. 

     
    The failure of our health system doesn’t stop at waiting lists. 

    I’ve heard of a grandmother sent home after waiting for hours in ED, only to return shortly after having had a stroke.

    A grandfather lying in a hospital ward for days, sick and in pain, not knowing when—or if—a doctor would come to see him and tell him what is wrong. 

    And I’ve heard far too many stories over the past five weeks of people who are alive today, not because the system looked after them, but because their wives, husbands, daughters, and sons had to make lots of noise until someone paid attention. 

    That’s not a health system that works.  And if you ask the doctors, nurses, midwives, and other health professionals who keep the system running, they’ll tell you the same thing.  They are just as frustrated—because they got into this job to care for people and provide world-class healthcare to New Zealanders. But the system is failing their patients and them too. Somewhere along the way, our health system became desensitised to patients.  There’s often too much focus on what the unions, the colleges, or professional lobby groups say, and not enough focus on what the patient says.  Because in healthcare, the customer is the patient—the mum with the newborn, the tradie, the farmer, the kaumātua, the grandmother.  They should be at the heart of every decision we make. People working in health have been conditioned to substandard management and conditioned to giving into groups which exert pressure on them.This is not the standard we should accept in New Zealand.  That’s why we must fix the system—so that every patient gets the care they deserve, and every healthcare professional is empowered to do the job they trained so long and hard for. New Zealanders expect better. And under this Government, we will deliver it. 

    A long-term problem made worse by Labour 

    Let’s be clear—this is not a new problem.  Our health system has been overloaded and under pressure for years. But the decisions of the previous government made it significantly worse. We inherited a health system in a state of turmoil.In the middle of a pandemic—when New Zealand needed stability—they ripped the entire structure apart.  They forced through one of the biggest bureaucratic restructures in our history, abolishing 20 District Health Boards overnight and replacing them with a single, centralised bureaucracy.  The reforms stripped decision-making away from regions and districts.They had no plan for how it would actually help patients. Key health targets – used to ensure the system was delivering for patients – were dumped.Instead of supporting frontline workers, they created another layer of bureaucratic management and confusion at the top.  Instead of focusing on patient care and ensuring people didn’t get sicker languishing on ballooning waiting lists, they produced internal reports and shuffled job titles in the head office.  Instead of keeping control of spending, they lost complete oversight of the system’s finances. To put it frankly, the previous government’s 2022 health reforms were rushed and poorly implemented, with disastrous results. Most importantly, those reforms eroded the trust and confidence of New Zealanders in getting access to the health services they need.It’s not just our view. It’s not just what frontline workers and patients say. It’s now documented fact. 
     
    The Deloitte Report – Labour’s health system failure in black and white 

    Today, a report by Deloitte titled the ‘Financial Review of Health New Zealand’—an independent report, not written by politicians, but by financial and operational experts – is being released on Health New Zealand’s website.It delivers a damning verdict on the state of our health system when we took office 16 months ago. The report shows, in black and white, that under the previous government, Health New Zealand lost control of the critical levers that drive financial and delivery outcomes.In simple terms: 

    The agency that was supposed to run our health system had no idea how it was spending its money or the results it was achieving.

    Costs spiralled out of control, with deficits mounting each month. 

    Basic financial oversight collapsed, meaning no accountability, no performance tracking, and no ability to measure success or failure. 

    No systems in place to manage funds appropriately.

     
    Meanwhile, Labour’s plan was to support unions over patients.  As I mentioned earlier, they scrapped health targets, so they didn’t even know what success looked like.
      
    The result? 

    Elective surgeries plummeted. In 2017, 1,037 people were waiting over four months for elective treatment. By the time Labour left office, that number had grown to 27,497. That’s an increase of over 2,551 percent. 

    Emergency department wait times blew out. When National left office, almost 90 percent of patients were seen within six hours. By 2023, that dropped below 70 percent. 

    Childhood immunisation rates collapsed. In 2017, 92.4 percent of children were fully immunised at 24 months. By 2023, that number hit 83 percent. 

    Primary healthcare was ignored. More people than ever couldn’t see a healthcare professional when they needed one. 

     
    This is a system under significant pressure and a system which was recklessly mismanaged under the past government, thrown into turmoil at the worst possible time, and left to drift without accountability. But that changes today. 
     
    Funding for Health

    There is always a need for more investment in health, but more money isn’t the only solution.This Government has invested a record funding boost of $16.68 billion (over three years) in health to help the sector plan for the future, and that includes funding expected growth. The funding boost provided by this Government is enabling Health New Zealand to retain capacity at the frontline and deliver more services to New Zealanders.There are more frontline staff, including more nurses than ever before and more medical staff, allied and scientific staff, and care and support staff.Since it was set up, Health New Zealand’s frontline staff grew by almost 6,500 people, alongside achieving back-office efficiencies. Remuneration for health workforces has also increased.Since 2014, average salaries for nurses and midwives have increased by almost 70 percent, while average salaries for teachers and police have only risen by approximately 35-40 percent over the same period. The average salary of a registered nurse (including senior nurses) is currently around $125,660, including overtime and allowances. This aligns with nurses in New South Wales.Yet we are not seeing the results we have invested in.Productivity is declining and has not kept pace with historic levels of funding and workforce growth.For example, in the decade between 2014 and 2024, core Health operating funding almost doubled, but the number of first specialist assessments undertaken only increased by 17 percent. The waiting list more than doubled during this period to almost 195,000 people.  And as at August last year, over 40 percent of adults needing to see a GP couldn’t get a consultation within a week of when they needed to see one. Every single dollar must deliver better outcomes for patients.  More money going in must mean more results coming out.  But under Labour, we saw more money with worse outcomes, longer waitlists, and declining service levels. That is simply unacceptable. 
     
    What we have done – A back-to-basics approach 

    Since being in office, this Government has been taking action and we are getting results: 

    We reinstated health targets—because what gets measured, gets done.  
    We’re doing more operations. Last year, the health system carried out over 144,000 elective procedures – 10,000 more than the previous 12 months. 
    We are moving resources back to the frontline, cutting wasteful bureaucracy.  
    The health workforce is being paid more. 
    We’re investing in health infrastructure—building new hospitals, upgrading existing ones, and modernising equipment. There are currently 66 Ministerially approved health infrastructure projects, worth a cumulative $6.3 billion in the pipeline. 
    We have begun stabilising the system, although there’s still a long way to go.

    But let me be clear—this is just the beginning.
     
    My five key priorities as Minister
    Healthcare is a top priority for everyone in New Zealand. I see it every day as an electorate MP, a father of three young children, and as Health Minister travelling the country. Yes, there will always be a need for more money in healthcare, and as Minister, I will fight every single day to invest more and deliver more for you.I am proud of the investment this Government is putting into health. However, I will also be holding the system to account to deliver more for the funding that is being invested.Investing in primary care and funding additional operations are at the heart of my five clear priorities as Health Minister. They are:
     

    Stabilising Health New Zealand’s governance and accountability allowing it to focus on delivering the basics
    Reducing emergency department wait times
    Delivering a boost in elective surgery volumes to get on top of the backlog and reduce waiting lists
    Fixing primary care to ensure easier access 
    Providing clarity on the health infrastructure investment pipeline.

     
    1. Focusing Health New Zealand on delivering the basics
    My first priority is getting the basics right. It follows years of worsening results being the only thing being delivered.We are going to turn this around by focusing on delivery and achieving targets. Our health targets matter because they demonstrate performance. But it’s not enough to have them on paper—we must deliver real results. Over the last few years, the previous Government’s decision to restructure in the middle of a pandemic—and to remove those targets—led us to where we are now. Too many people are waiting too long for critical assessments and treatments.Health New Zealand should run a health system, not a bureaucracy. Instead of focusing on patients, it got lost in process. That changes now.No more excuses. We measure success in one way: better outcomes for patients.Health New Zealand has struggled to come together as a cohesive team that supports the organisation to deliver for patients. Senior Leadership Team members have only just begun weekly in-person meetings, and have continued to operate from different offices, despite the majority living in Auckland and the organisation being two and a half years old.This has meant the organisation has failed to create a cohesive team to lead the organisation forward.Today, I’m outlining my expectations for Health NZ to deliver a nationally planned and consistent, but locally delivered, health system. I expect core services (infrastructure, data, digital, HR, comms) will sit at head office, with national executive leadership focused on national programmes, shared services, overall governance and planning and empowering districts. I have directed the Commissioner to accelerate the shift to local decision-making and service delivery, and set a requirement for local delivery plans to be developed. I expect this to be done by July.This will enable local leaders to plan effectively, be clear about their budgets, allocate resource to where it’s most needed, and deliver better outcomes for their communities.Because all healthcare is local.I expect there to be strong regional coordination to support local delivery, with singular lines of accountability flowing from the national executive level through to the frontline.Under Labour, financial controls vanished, clinical input was lost, and local districts were disempowered. We are restoring that.Today, I have issued a new letter of expectation and Health New Zealand has released its delivery plan to reflect this.I will also bring back a board for Health New Zealand. Now that the plan is set, it is time to begin the process of transitioning to traditional governance.In the coming weeks, nominations open for the new board. If you have passion for healthcare and a demonstrated track record of delivery, we need you.I’d like to take this opportunity to thank the Commissioners for their work to date and I look forward to working with them as they deliver on their plan and as we transition to a board.
     
    2. Fixing Primary Healthcare – easier access for everyone
    My second priority is ensuring timely GP access. New Zealand has a shortage of family doctors, who play an important role in helping Kiwis to stay well and out of emergency departments.But last year a third of GP practices had their books closed, forcing people to emergency departments. And if you can’t book in to see your GP or nurse when you need one, you end up in ED when you shouldn’t have to. No one should wait weeks to see a GP and we are set on fixing that.Historically, more funding has been invested in more costly hospital and specialist services at the expense of primary and community care. Over the past five years, hospital funding has increased at a higher rate than primary and community funding. Hospital funding went up by almost 53 percent, while primary and community funding increased by 41 percent.This means we’re missing opportunities for earlier and less costly interventions.We must shift the dial towards primary care, both to improve access for New Zealanders and because it is the fiscally responsible thing to do.We have already made a number of important announcements this week about how we will improve access to primary care including: 
     

    Making it easier for New Zealanders to see a doctor. We’re providing up to 100 clinical placements for overseas-trained doctors to work in primary care. This will support their transition into GP practices that need them most.  

    We are also ramping up the number of trainee GPs to give Kiwis better access to healthcare in their communities. We’re introducing a funded primary care pathway to registration for up to 50 New Zealand-trained graduate doctors each year from 2026.

    We’re training more new doctors. During the term of this Government, medical school placement have increased by 100 places each year.

    We’re investing to increase the number of nurses in primary care. This includes supporting GP practices and other providers outside hospitals to hire up to 400 graduate registered nurses a year from this year.

    Improving access to 24/7 digital care. This will provide all New Zealanders with better and faster access to video consultations with New Zealand-registered clinicians, such as GPs and nurse practitioners, for urgent problems, 24 hours a day, seven days a week. People will be able to be diagnosed, get prescriptions, be referred for lab tests or radiology, and have urgent referrals organised.

    These measures focus on giving our primary care workforce the numbers and support they need, so that when you or your whānau need to see a GP, you can—without facing weeks-long wait times or closed books.Strengthening urgent and after-hours care will also be a focus of mine as part of our plan to enable faster access to primary care, and work on this is underway.This week I also announced that Health New Zealand has agreed to deliver a $285 million uplift to funding over three years for general practice from 1 July, in addition to the capitation uplift general practice receives annually.This will be incentivise GPs to improve access and patient outcomes – especially around improved vaccination rates and supporting family doctors to undertake minor planned services. This is just the start – there is more to do. Health New Zealand has work underway to rethink how we fund primary care to make it faster, more accessible, and more sustainable. 

    3. Reducing ED wait times
    My third priority is emergency departments, which have seen lengthy wait times continue to increase since targets were scrapped. The ED target is not just about making sure patients are seen quickly but it pushes every part of the hospital to work smoothly.Emergency departments are the beating hearts of hospitals – if they are operating efficiently and effectively, that reflects the effectiveness and efficiency of every part of the hospital. If wait times are too slow in the ED department it indicates problems throughout the hospital. I expect Health New Zealand to: 

    Empower clinicians at local levels to fix bottlenecks in real time.
    Integrate the primary care reforms, so fewer preventable cases end up in ED. This will be done by hiring and training more doctors and nurses and ensuring New Zealanders have access to round-the-clock care.

    The relationship between our hospitals and primary care is critically important, but has broken down in recent years and needs to be fixed. Empowering the primary care sector can help keep people out of hospital and manage patients much more cost effectively in our communities.We need our hospitals working with our primary health care providers to achieve this, and we need many more hospital services delivered locally in communities rather than centrally in our hospitals. We are restoring a focus on ED shorter stay targets, forcing real improvements across the entire hospital. We want to see 95 percent of people admitted, discharged, or transferred from an emergency department within six hours. 

    4. Clearing the elective surgery backlog
    My fourth priority is elective surgeries, where 27,497 people were waiting more than four months for surgeries they desperately needed in September 2023—a number that was 1,037 under National in 2017. This backlog is unacceptable and has unfortunately grown since we came to Government.But we have arrested the decline in the number of operations. As I mentioned earlier, last financial year, the health system carried out 10,000 more elective procedures than in the previous 12 months. However, we must still urgently increase the volume of surgeries.The elective surgery wait list target isn’t just about measuring performance of the system, it is about people. Behind every number is an individual, a family, many waiting in pain and families anxious for their loved ones to have the surgery they need. We can’t keep doing things the way we currently do it. At the moment Health NZ undertakes both elective surgery, and also responds to acute need, with planned elective surgery often being disrupted by acute need, leaving patients waiting for treatment and waitlists continuing to grow. At the same time, the small amount of planned care that is outsourced to the private sector is often done on an ad hoc basis, meaning Health New Zealand is paying premium prices.This practice must stop. Kiwis waiting in pain for an operation aren’t worried about who is delivering the operation, they just want it done as quickly as possible. I want to see Health NZ both lifting its own performance on elective surgeries, but also partnering closely with the private sector to ensure we can get on top of the waitlists and get kiwis the operations they need as quickly as possible. By partnering with the private sector, we can ensure people get the care they need, and Health New Zealand can achieve value for money through long-term contracts with the private sector. I expect Health New Zealand to work closely with ACC – which already has many of these arrangements in place – to ensure value for money for taxpayers and faster treatment for patients.Today I am pleased to announce the first part of this plan with Health New Zealand investing $50 million between now and the end of June this year to reduce the backlog of people waiting for elective surgeries. That will see an extra 10,579 procedures carried out between now and the middle of this year, with work also underway now to negotiate longer term agreements. This will improve the quality of life of thousands of New Zealanders. It will mean people can return to work, take up hobbies again, and continue to build precious memories with loved ones. I can also announce that I have asked Health New Zealand to work with the private sector to agree a set of principles that will underpin future outsourcing contracts. This will include: 
     

    Ending the use of expensive ad hoc, shorter-term contracts for elective surgeries. 
    Negotiating longer-term, multi-year agreements to deliver better value for money and better outcomes for patients. 
    Agreeing on plans to recruit, share, and train staff which already bridge both the public and private hospitals. 

     
    Long term, I want as much planned care as possible to be delivered in partnership with the private sector, freeing public hospitals for acute needs. However, this needs to be done in a way which is mutually beneficial for our public health system and our workforce. To be clear, the system remains publicly funded, so everyone has access, but this will allow Health New Zealand to leverage private capacity to reduce wait times for patients. 
     
    5. Investing in health infrastructure – building for the future
    My fifth priority is infrastructure—physical and digital. Our hospitals and data systems are in dire need of upgrade. Health New Zealand is grappling with an outdated infrastructure that is inhibiting changes to models of care that improve patient outcomes and drive efficiencies.Currently: 

    Health New Zealand has about 1,200 buildings – some have significant seismic risks, other older buildings are not clinically fit for purpose. 
    Digital infrastructure is also fragmented. There are an estimated 6,000 applications and 100 digital networks. That equates to roughly one application for every 16 Health New Zealand staff members, which is unsustainable.

    We need solutions. That includes: 

    Investigating creating a separate Health Infrastructure Entity under Health New Zealand, to manage and deliver physical and digital assets. 
    Publishing a long-term plan for health infrastructure so Kiwis know what’s being upgraded across New Zealand and can see a 10-year pipeline of capital projects 
    Putting all funding and financing options on the table—this will require bold, sustainable investment.  

    Health infrastructure has been neglected for decades.We’re turning that around. There are currently health infrastructure projects, worth a cumulative $6.3 billion in the pipeline.That includes:
     

    A new hospital in Dunedin. 
    Modern cancer treatment facilities in Hawke’s Bay and Taranaki 
    The extensive facilities infrastructure remediation programme at Auckland City Hospital and Greenlane Clinical Centre, and 
    Manukau Health Park and Hillmorton specialist mental health services in Christchurch. 

    Hospitals don’t run on press releases; they run on real investment. We are delivering that. 
     
    Stripping out bureaucracy, demanding delivery
    At the end of the day, you can’t manage what you don’t measure. It comes down to results, accountabilities, and every single person in the health system playing their part. My message to Health New Zealand is simple: I expect delivery. I expect a back-to-basics approach, with less talk and more action.I expect a relentless focus on improving health outcomes for New Zealanders and for Health New Zealand to reallocate baseline funding to implement immediate action.We’ve had enough talk. It’s time to fix this system.
     
    A health system that delivers for every New Zealander
    New Zealanders don’t want more reports or more excuses—they want action: 

    Health targets are back.
    We’re taking action to stabilise surgery waitlists.
    More doctors and nurses are being trained and recruited.
    Hospitals are being upgraded.
    Primary care is being strengthened.

     
    This isn’t just talk; it’s real change. And I promise every New Zealander: we will not stop until our health system delivers timely, quality care to all.We are embarking on this shift with urgency.Patients come first. And this Government will not rest until that’s a reality.Thank you very much.

    MIL OSI New Zealand News –

    March 7, 2025
  • MIL-OSI Security: Tax refund scheme leads to convictions for Hampton Roads fraudsters

    Source: Office of United States Attorneys

    NEWPORT NEWS, Va. – A Hampton Roads duo pled guilty to their roles in a refund scheme involving pandemic relief tax credits.

    According to court documents, between Oct. 11, 2022, and May 24, 2023, Kendra Michelle Eley, 36, of Norfolk, filed with the Internal Revenue Service (IRS) eight Forms 941, Employer’s Quarterly Federal Tax Returns, for Kreative Designs by Kendra, LLC, (KDK) using the Employer Identification Number assigned to Kendra Cleans Maid Service.  These eight forms covered four tax periods in 2020 and four tax periods in 2021.

    Eley falsely reported wages paid and federal tax withholdings for eighteen purported employees on each of the forms, knowing there were no such employees.  For the four forms filed for 2021, Eley claimed false Sick and Family Leave Credits and Employee Retention Credit (ERC) through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, totaling approximately $713,000 and $252,000 respectively, with total refunds claimed of over $900,000.

    Based on Eley’s filings, on December 9, 2022, and on December 13, 2022, the IRS issued two U.S. Treasury refund checks made payable to ‘‘Kendra M. Eley, Kendra Cleans Maid Services” totaling $649,050.

    On Dec. 23, 2022, Eley and Rejohn Isaiah Whitehead, 28, of Portsmouth, opened a business checking account in the name of Kendra Cleans Maid Services LLC (KCMS), and the signatories on the account were Eley and Whitehead. To open the business account, Eley and Whitehead falsely represented the nature and extent of KCMS as a business, including that KCMS had sixteen employees and that the average pay rate of each employee was $2,000. Eley funded the account by depositing one of the refund checks in the amount of $389,640. On Jan. 9, 2023, Eley wrote Whitehead a check from the KCMS account for $20,000. Eley wrote Whitehead another check from the account for $40,000 on Jan. 21, 2023.

    On Feb. 13, Whitehead pled guilty to engaging in monetary transactions in criminally derived property. He is scheduled to be sentenced on June 26 and faces up to 10 years in prison.

    Eley pled guilty today to one count each of false claims and engaging in monetary transactions in criminally derived property. She is scheduled to be sentenced on July 9 and faces up to 10 years in prison.

    Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Kareem A. Carter, IRS Criminal Investigation Special Agent in Charge of the Washington D.C. Field Office, made the announcement after Senior U.S. District Judge Raymond A. Jackson accepted the plea.

    Assistant U.S. Attorneys Therese O’Brien and Mack Coleman are prosecuting the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 4:24-cr-77.

    MIL Security OSI –

    March 7, 2025
  • MIL-OSI United Nations: Choose compassion, reject cruelty to end HIV, says top UN rights official

    Source: United Nations 2

    6 March 2025 Human Rights

    Global efforts to tackle the HIV/AIDS epidemic continue to remain insufficient, with deadly consequences, the UN Human Rights Council heard on Thursday.

    In a stark assessment of the current situation of the health crisis, Deputy UN High Commissioner for Human Rights Nada Al-Nashif warned that more than nine million people do not receive treatment, while 4,000 girls and young women contract the virus every week.

    A staggering three-quarters of them live in sub-Saharan Africa, she noted, reminding Member States that while HIV is “entirely treatable and preventable…the world is off track in ending AIDS.”

    Stigma fuelling crisis

    “Stigma and discrimination are preventing concrete progress and paving the way for a resurgence of infections,” Ms. Al-Nashif said.

    “Together, we have the power and the responsibility to change this. When human rights are promoted, health is protected.”

    Other speakers echoed the need for human rights-based approaches to ensure universal access to treatment. They warned that discrimination and harmful laws targeting marginalized communities hinder access to prevention, testing and care.

    Keep rights at the core

    Florence Riako Anam of the Global Network of People Living with HIV (GNP+) quoted Nelson Mandela, saying that HIV is “more than a disease – it is a human rights issue.”

    In many countries, criminalization, stigma and discrimination based on sexual orientation, gender identity, drug use as well as sex work continue to obstruct HIV response efforts, with deadly consequences.

    GNP+, an NGO collecting data on stigma since 2008, has surveyed 100,000 people across 100 countries. The findings: nearly one in four respondents experienced HIV-related stigma.

    Break the barriers

    “To end AIDS for good, we must dismantle the human rights-related barriers that prevent certain populations from accessing the services they need and tackle the deep gender inequalities and underlying inequities that drive starkly different health outcomes,” said Vuyiseka Dubula, Head of Community, Rights and Gender at the Global Fund to Fight AIDS, Tuberculosis and Malaria.

    Ms. Dubula, who lives with HIV in South Africa, noted that while global progress has been significant – new infections down by 61 per cent and AIDS-related deaths by 73 per cent in more than 100 countries over the last two decades—there is still much work to be done.

    “This is something to be proud of, but we can go even further in the next five years if we really are focused on ending HIV” Ms. Dubula said, referring to Sustainable Development Goal 3 (SDG3) on ensuring healthy lives for all.

    Compassion over cruelty

    Adeeba Kamarulzaman of the World Health Organization (WHO) Science Council and the Global Council on Inequality, AIDS and Pandemics echoed the need for more compassionate methods in tackling the epidemic.

    She pointed to Malaysia, her home country, which once faced a devastating HIV epidemic but has since made significant progress.

    In countries decriminalizing drug use, knowledge of HIV status is 15 per cent higher and HIV incidence is five per cent lower, she explained, adding that in places where sex work is decriminalized, infection rates are further reduced by 4.5 per cent.

    “When we choose compassion over cruelty, when we invest in people instead of punishing them, we save lives,” Dr. Kamarulzaman said.

    Persistent discrimination

    Erika Castellanos, a transgender woman and Executive Director of Global Action for Trans Equality, spoke of her experience in Belize, where LGBTIQ+ people faced up to 10 years in jail before 2016. Even after the law was overturned, little has changed.

    “The stigma, discrimination and institutional barriers persist in the systems that deny us dignity, in the services that exclude us and in the societies that still see us as less than human,” said Ms. Castellanos, who has lived with HIV for 20 years.

    “I am here because of the hard work, sweat, blood and tears of countless people, many of whom did not survive this epidemic,” she told the Human Rights Council.

    “I am alive – because of an HIV response that valued my life.”

    MIL OSI United Nations News –

    March 7, 2025
  • MIL-OSI: Asure Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Reports Full Year 2024 Revenues of $119.8 million

    Full Year 2024 Recurring Revenues Grew 15% from Prior Year

    Recurring Revenues Grew to 96% of Total Revenues from 84% in the Prior Year

    AUSTIN, Texas, March 06, 2025 (GLOBE NEWSWIRE) — Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today reported results for the fourth quarter and full year ended December 31, 2024.

    Fourth Quarter 2024 Financial Highlights

    • Revenue of $30.8 million, up 17% year over year, excluding ERTC revenue up 22% from prior year fourth quarter
    • Recurring revenue of $28.5 million, up 14% from prior year fourth quarter
    • Net loss of $3.2 million versus a net loss of $3.6 million during prior year fourth quarter
    • EBITDA (1) of $3.4 million versus $1.1 million from prior-year fourth quarter
    • Adjusted EBITDA (1) of $6.2 million, versus $2.8 million from prior-year fourth quarter
    • Gross profit of $20.9 million versus $17.8 million from prior-year fourth quarter
    • Non-GAAP gross profit (1) of $22.5 million (Non-GAAP gross margin (1) of 73%) versus $18.8 million (and 72% in prior-year fourth quarter)

    Full Year 2024 Financial Highlights

    • Revenue of $119.8 million increased slightly year over year, excluding ERTC revenue up 17% from prior year
    • Recurring revenue of $114.5 million up 15% from prior year
    • Net loss of $11.8 million versus prior year net loss of $9.2 million
    • EBITDA (1) of $11.4 million versus $14.3 million in the prior year
    • Adjusted EBITDA (1) of $22.5 million versus $23.3 million in the prior year
    • Gross profit of $82.1 million versus $85.5 million in the prior year
    • Non-GAAP gross profit (1) of $88.2 million versus $90.3 million in the prior year

    Recent Business Highlights

    • In January 2025 we signed a major multi-year agreement with an industry leader in audit, consulting, tax and advisory  services to resell our Payroll and Payroll Tax Management solutions. The multi-year agreement will deliver comprehensive payroll and payroll tax management services for the firm’s clients enabling them to offer these services for the first time. 
    • We announced the introduction of Luna, a groundbreaking AI agent designed to enhance payroll and HR management. Unlike traditional generative AI chatbots, Luna is an advanced AI agent that understands Asure’s suite of products, serves as an industry expert, and most importantly, can act on behalf of both employees through self-service and business owners and administrators.
    • Jay Whitehead joined Asure in January 2025 as Senior Vice President to lead our AsurePay™ Platinum VIP Banking card and Marketplace businesses. He is a seasoned entrepreneur, and HCM thought leader who we expect to drive innovation and foster strategic partnerships at Asure.

    (1)This financial measure is not calculated in accordance with GAAP and is defined on page 3 of this press release. A reconciliation of this non-GAAP measure to the most applicable GAAP measure begins on page 11 of this release.

    Management Commentary

    “We are pleased to report strong results for 2024, demonstrating the continued momentum of our business. Excluding the one-time impact of ERTC revenue, our fourth-quarter revenue grew 22% year-over-year, reaching $30.8 million—an impressive finish to the year. For the full year, total revenue increased modestly to $119.8 million, but when adjusted to exclude ERTC, our revenue growth was 17% year-over-year, underscoring the strength of our core business. Recurring revenue, the backbone of our model, grew 15% year-over-year and now represents 96% of total revenue, up from 84% in 2023. Additionally, our contracted revenue backlog continued to expand, providing further visibility into future growth,” said Asure Chairman and CEO Pat Goepel. 

    “Our performance in 2024 was particularly strong in key areas, including our Payroll Tax Management product, which drove several major multi-year agreements with enterprise clients. The success of this product, along with our growing backlog, reinforces the durability of our revenue streams and positions us well for the future.” 

    “We executed our strategy despite the anticipated headwind of replacing one-time ERTC revenue, and we are entering 2025 with a solid foundation for continued growth. Our plan for 2025 includes both organic and inorganic expansion, supported by the significant investments we’ve made in technology, operations, and new product development. With these improvements, we are confident in our ability to drive sustained, long-term growth.” 

    First Quarter 2025 and Full Year 2025 Revenue Guidance Ranges

    The Company is providing the following guidance for the first quarter 2025 and full year 2025 based on the Company’s year-to-date results and recent business trends. The guidance for our first quarter 2025 and the full year 2025 excludes any contribution from future potential acquisitions.

    Guidance for 2025

    Guidance Range   Q1-2025   FY-2025
    Revenue $ 33.0 M – 35.0 M $ 134.0 M -138.0 M
    Adjusted EBITDA(1) $ 6.0 M -7.0 M   23% -24%
             

    (1)This financial measure is not calculated in accordance with GAAP and is defined on page 3 of this press release. A reconciliation of this non-GAAP measure to the most applicable GAAP measure begins on page 11 of this release.

    Management uses GAAP, non-GAAP and adjusted measures when planning, monitoring, and evaluating the Company’s performance. The primary purpose of using non-GAAP and adjusted measures is to provide supplemental information that may prove useful to investors and to enable investors to evaluate the Company’s results in the same way management does.

    Management believes that supplementing GAAP disclosures with non-GAAP and adjusted disclosures provides investors with a more complete view of the Company’s operational performance and allows for meaningful period-to-period comparisons and analysis of trends in the Company’s business. Further, to the extent that other companies use similar methods in calculating adjusted financial measures, the provision of supplemental non-GAAP and adjusted information can allow for a comparison of the Company’s relative performance against other companies that also report non-GAAP and adjusted operating results.

    Management has not provided a reconciliation of guidance of GAAP to non-GAAP or adjusted disclosures because management is unable to predict the nature and materiality of non-recurring expenses without unreasonable effort.

    Management’s projections are based on management’s current beliefs and assumptions about the Company’s business, and the industry and the markets in which it operates; there are known and unknown risks and uncertainties associated with these projections. There can be no assurance that our actual results will not differ from the guidance set forth above. The Company assumes no obligation to update publicly any forward-looking statements, including its 2025 earnings guidance, whether as a result of new information, future events or otherwise. Please refer to the “Use of Forward-Looking Statements” disclosures on page 5 of this press release as well as the risk factors in our quarterly and annual reports on file with the Securities and Exchange Commission for more information about risk that affect our business and industry.

    Conference Call Details

    Asure management will host a conference call on Thursday, March 6, 2025, at 3:30 pm Central (4:30 pm Eastern). Asure Chairman and CEO Pat Goepel and CFO John Pence will participate in the conference call followed by a question-and-answer session. The conference call will be broadcast live and available for replay via the investor relations section of the Company’s website. Analysts may participate on the conference call by dialing 877-407-9219 or 201-689-8852.

    About Asure Software, Inc.

    Asure (Nasdaq: ASUR) provides cloud-based Human Capital Management (HCM) software solutions that assist organizations of all sizes in streamlining their HCM processes. Asure’s suite of HCM solutions includes HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. The company’s approach to HR compliance services incorporates AI technology to enhance scalability and efficiency while prioritizing client interactions. For more information, please visit www.asuresoftware.com. 

    Non-GAAP and Adjusted Financial Measures

    This press release includes information about non-GAAP gross profit, non-GAAP sales and marketing expense, non-GAAP general and administrative expense, non-GAAP research and development expense, EBITDA, EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin. These non-GAAP and adjusted financial measures are measurements of financial performance that are not prepared in accordance with U.S. generally accepted accounting principles and computational methods may differ from those used by other companies. Non-GAAP and adjusted financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with the Company’s Condensed Consolidated Financial Statements prepared in accordance with GAAP. Non-GAAP and adjusted financial measures are reconciled to GAAP in the tables set forth in this release and are subject to reclassifications to conform to current period presentations.

    Non-GAAP gross profit differs from gross profit in that it excludes amortization, share-based compensation, and one-time items.

    Non-GAAP sales and marketing expense differs from sales and marketing expense in that it excludes share-based compensation and one-time items.

    Non-GAAP general and administrative expense differs from general and administrative expense in that it excludes share-based compensation and one-time items.

    Non-GAAP research and development expense differs from research and development expense in that it excludes share-based compensation and one-time items.

    EBITDA differs from net income (loss) in that it excludes items such as interest, income taxes, depreciation, and amortization. Asure is unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort.

    Adjusted EBITDA differs from EBITDA in that it excludes share-based compensation, other income (expense), net and one-time expenses. Asure is unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort.

    All adjusted and non-GAAP measures presented as “margin” are computed by dividing the applicable adjusted financial measure by total revenue.

    Specifically, as applicable to the respective financial measure, management is adjusting for the following items when calculating non-GAAP and adjusted financial measures as applicable for the periods presented. No additional adjustments have been made for potential income tax effects of the adjustments based on the Company’s current and anticipated de minimis effective federal tax rate, resulting from the Company’s continued losses for federal tax purposes and its tax net operating loss balances.

    Share-Based Compensation Expenses. The Company’s compensation strategy includes the use of share-based compensation to attract and retain employees and executives. It is principally aimed at aligning their interests with those of our stockholders and at long-term employee retention, rather than to motivate or reward operational performance for any particular period. Thus, share-based compensation expense varies for reasons that are generally unrelated to operational decisions and performance in any particular period.

    Depreciation. The Company excludes depreciation of fixed assets. Also included in the expense is the depreciation of capitalized software costs.

    Amortization of Purchased Intangibles. The Company views amortization of acquisition-related intangible assets, such as the amortization of the cost associated with an acquired company’s research and development efforts, trade names, customer lists and customer relationships, and acquired lease intangibles, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense, one that is not typically affected by operations during any particular period.

    Interest Expense, Net. The Company excludes accrued interest expense, the amortization of debt discounts and deferred financing costs.

    Income Taxes. The Company excludes income taxes, both at the federal and state levels.

    One-Time Expenses. The Company’s adjusted financial measures exclude the following costs to normalize comparable reporting periods, as these are generally non-recurring expenses that do not reflect the ongoing operational results. These items are typically not budgeted and are infrequent and unusual in nature.

    Settlements, Penalties and Interest. The Company excludes legal settlements, including separation agreements, penalties and interest that are generally one-time in nature and not reflective of the operational results of the business.

    Acquisition and Transaction Related Costs. The Company excludes these expenses as they are transaction costs and expenses that are generally one-time in nature and not reflective of the underlying operational results of our business. Examples of these types of expenses include legal, accounting, regulatory, other consulting services, severance and other employee costs.

    Other non-recurring Expenses. The Company excludes these as they are generally non-recurring items that are not reflective of the underlying operational results of the business and are generally not anticipated to recur. Some examples of these types of expenses, historically, have included write-offs or impairments of assets, demolition of office space and cybersecurity consultants.

    Other (Expense) Income, Net. The Company’s adjusted financial measures exclude Other (Expense) Income, Net because it includes items that are not reflective of the underlying operational results of the business, such as loan forgiveness, adjustments to contingent liabilities and credits earned as part of the CARES Act, passed by Congress in the wake of the coronavirus pandemic.

    Use of Forward-Looking Statements

    This press release contains certain statements made by management that may constitute “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements about our financial results may include expected or projected U.S GAAP, non-U.S GAAP and other operating and non-operating results. The words “believe,” “may,” “will,” “estimate,” “projects,” “anticipate,” “intend,” “expect,” “should,” “plan,” and similar expressions are intended to identify forward-looking statements. Examples of “forward-looking statements” include statements regarding our strategy, future operations, financial condition, results of operations, projected costs, revenue growth, earnings, and plans and objectives of management. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions, over many of which we have no control. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. Additionally, we are under no obligation to update any of the forward-looking statements after the date of this press release or to confirm such statements to actual results.

    The risks and uncertainties referred to above include—but are not limited to— risks associated with breaches of the Company’s security measures; risks related to material weaknesses; possible fluctuations in the Company’s financial and operating results; privacy concerns and laws and other regulations may limit the effectiveness of our applications; the financial and other impact of any previous and future acquisitions; domestic and international regulatory developments, including changes to or applicability to our business of privacy and data securities laws, money transmitter laws and anti-money laundering laws; regulatory pressures on economic relief enacted as a result of the COVID-19 pandemic that change or cause different interpretations with respect to eligibility for such programs; risk of our software and solutions not functioning adequately; interruptions, delays or changes in the Company’s services or the Company’s Web hosting; may incur debt to meet future capital requirements; volatility and weakness in bank and capital markets; access to additional capital; significant costs as a result of operating as a public company; the expiration of Employee Retention Tax Credits (“ERTC”) and the impact of the Internal Revenue Service recent measures regarding ERTC claims and the corresponding cash collections of existing receivables; the inability to continue to release timely updates for changes in laws; the inability to develop new and improved versions of the Company’s services and technological developments; customer’s nonrenewal of their agreements and other similar changes could negatively impact revenue, operating results and financial conditions; the exposure of market, interest, credit and liquidity risk on client funds held int rust; the Company’s operation in highlight competitive markets; risk that our clients could have insufficient funds that could result in limitations in the ability to transmit ACH transactions; impairment of intangible assets; litigation and any related claims, negotiations and settlements, including with respect to intellectual property matters or industry-specific regulations; various financial aspects of the Company’s Software-as-a-Service model; adverse effects to our business a result of claims, lawsuits, and other proceedings; issues in the use of artificial intelligence in our HCM products and services; adverse changes to financial accounting standards to the Company; inability to maintain third-party licensed software; evolving regulation of the Internet, changes in the infrastructure underlying the Internet or interruptions in Internet; factors affecting the Company’s deferred tax assets and ability to value and utilize them; the nature of the Company’s business model; inability to adopt new or correctly interpret existing money service and money transmitter business status; the Company’s ability to hire, retain and motivate employees and manage the Company’s growth; interruptions to supply chains and extended shut down of businesses; potential enactment of adverse tax laws, regulation, political, economic and social factors; potential sales of a substantial number of shares of our common stock along with its volatility; risks associate with potential equity-related transactions including dividends, rights under the stockholder plan to discourage certain actions and other impacts as a result of actions of our stockholders.

    Please review the Company’s risk factors in its annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025.

    The forward-looking statements, including the financial guidance and 2025 outlook, contained in this press release represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations with regard to these forward looking statements or any change in events, conditions or circumstances on which any such statements are based. © 2025 Asure Software, Inc. All rights reserved

     
    ASURE SOFTWARE, INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except per share amounts)
           
      December 31, 2024   December 31, 2023
           
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 21,425     $ 30,317  
    Accounts receivable, net of allowance for credit losses of $6,328 and $4,787 at December 31, 2024 and December 31, 2023, respectively   18,154       14,202  
    Inventory   195       155  
    Prepaid expenses and other current assets   4,888       3,471  
    Total current assets before funds held for clients   44,662       48,145  
    Funds held for clients   192,615       219,075  
    Total current assets   237,277       267,220  
    Property and equipment, net   19,669       14,517  
    Goodwill   94,724       86,011  
    Intangible assets, net   69,114       62,082  
    Operating lease assets, net   4,041       4,991  
    Other assets, net   11,813       9,047  
    Total assets $ 436,638     $ 443,868  
    LIABILITIES AND STOCKHOLDERS’EQUITY      
    Current liabilities:      
    Current portion of notes payable $ 7,008     $ 27  
    Accounts payable   1,364       2,570  
    Accrued compensation and benefits   4,485       6,519  
    Operating lease liabilities, current   1,438       1,490  
    Other accrued liabilities   6,600       3,862  
    Deferred revenue   8,363       6,853  
    Total current liabilities before client fund obligations   29,258       21,321  
    Client fund obligations   194,378       220,019  
    Total current liabilities   223,636       241,340  
    Long-term liabilities:      
    Deferred revenue   3,430       16  
    Deferred tax liability   2,612       1,728  
    Notes payable, net of current portion   5,709       4,282  
    Operating lease liabilities, noncurrent   3,578       4,638  
    Other liabilities   358       209  
    Total long-term liabilities   15,687       10,873  
    Total liabilities   239,323       252,213  
    Stockholders’ equity:      
    Preferred stock, $0.01 par value; 1,500 shares authorized; none issued or outstanding   —       —  
    Common stock, $0.01 par value; 44,000 shares authorized; 26,671 and 25,382 shares issued, 26,671 and 24,998 shares outstanding at December 31, 2024 and December 31, 2023, respectively   267       254  
    Treasury stock at cost, zero(1)and 384 shares at December 31, 2024 and December 31, 2023, respectively   —       (5,017 )
    Additional paid-in capital   504,849       487,973  
    Accumulated deficit   (307,226 )     (290,440 )
    Accumulated other comprehensive loss   (575 )     (1,115 )
    Total stockholders’ equity   197,315       191,655  
    Total liabilities and stockholders’ equity $ 436,638     $ 443,868  
    (1) The aggregate Treasury stock of prior repurchases of the Company’s own common stock was retired and subsequently issued effective January 1, 2024. See the Consolidated Statement of Changes in Stockholders’ Equity for the impact of this transaction.
     
     
    ASURE SOFTWARE, INC.
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (in thousands, except per share amounts)
           
      Three Months Ended
    December 31,
      Twelve Months Ended
    December 31,
      2024   2023   2024   2023
                   
    Revenue:              
    Recurring $ 28,521     $ 24,985     $ 114,471     $ 99,734  
    Professional services, hardware and other   2,271       1,279       5,321       19,348  
    Total revenue   30,792       26,264       119,792       119,082  
    Cost of sales   9,864       8,425       37,685       33,545  
    Gross profit   20,928       17,839       82,107       85,537  
    Operating expenses:              
    Sales and marketing   6,945       6,422       28,316       28,734  
    General and administrative   9,940       9,747       40,499       39,333  
    Research and development   2,103       1,739       7,807       6,846  
    Amortization of intangible assets   4,432       3,694       16,222       13,623  
    Total operating expenses   23,420       21,602       92,844       88,536  
    Loss from operations   (2,492 )     (3,763 )     (10,737 )     (2,999 )
    Interest income   151       326       913       1,342  
    Interest expense   (362 )     (302 )     (1,024 )     (5,639 )
    Loss on extinguishment of debt   —       —       —       (1,517 )
    Other income (expense), net   (2 )     (1 )     8       (292 )
    Loss from operations before income taxes   (2,705 )     (3,740 )     (10,840 )     (9,105 )
    Income tax expense (benefit)   499       (158 )     933       109  
    Net loss   (3,204 )     (3,582 )     (11,773 )     (9,214 )
    Other comprehensive income (loss):              
    Unrealized gain (loss) on marketable securities   (565 )     1,581       540       1,368  
    Comprehensive loss $ (3,769 )   $ (2,001 )   $ (11,233 )   $ (7,846 )
                   
    Basic and diluted loss per share              
    Basic $ (0.12 )   $ (0.14 )   $ (0.45 )   $ (0.42 )
    Diluted $ (0.12 )   $ (0.14 )   $ (0.45 )   $ (0.42 )
                   
    Weighted average basic and diluted shares              
    Basic   26,602       24,907       26,054       22,138  
    Diluted   26,602       24,907       26,054       22,138  
                                   
     
    ASURE SOFTWARE, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands)
       
      Year Ended December 31,
      2024   2023
           
    Cash flows from operating activities:      
    Net loss $ (11,773 )   $ (9,214 )
    Adjustments to reconcile loss to net cash provided by operations:      
    Depreciation and amortization   22,142       19,135  
    Amortization of operating lease assets   1,386       1,481  
    Amortization of debt financing costs and discount   726       820  
    Non-cash interest expense   298       1,471  
    Net accretion of discounts and amortization of premiums on available-for-sale securities   (377 )     (119 )
    Provision for expected losses   46       2,047  
    Provision for deferred income taxes   884       225  
    Loss on extinguishment of debt   —       990  
    Net realized gains on sales of available-for-sale securities   (2,609 )     (2,257 )
    Share-based compensation   6,444       5,430  
    Loss on disposals of long-term assets   —       132  
    Change in fair value of contingent purchase consideration   —       175  
    Changes in operating assets and liabilities:      
    Accounts receivable   (3,998 )     (4,126 )
    Inventory   (41 )     97  
    Prepaid expenses and other assets   (1,886 )     5,101  
    Operating lease right-of-use assets   —       546  
    Accounts payable   (1,206 )     376  
    Accrued expenses and other long-term obligations   (1,103 )     87  
    Operating lease liabilities   (1,555 )     (1,118 )
    Deferred revenue   2,010       (2,379 )
    Net cash provided by operating activities   9,388       18,900  
    Cash flows from investing activities:      
    Acquisition of intangible assets   (13,256 )     (7,651 )
    Purchases of property and equipment   (692 )     (1,585 )
    Software capitalization costs   (10,187 )     (7,027 )
    Purchases of available-for-sale securities   (15,643 )     (27,647 )
    Proceeds from sales and maturities of available-for-sale securities   20,522       14,385  
    Net cash used in investing activities   (19,256 )     (29,525 )
    Cash flows from financing activities:      
    Proceeds from notes payable, net of issuance costs   4,995       —  
    Payments of notes payable   (420 )     (35,627 )
    Debt extinguishment costs   —       (250 )
    Net proceeds from issuance of common stock   1,370       46,800  
    Capital raise fees   (132 )     (338 )
    Payments made on amounts due for the acquisition of intangibles   (1,513 )     (311 )
    Net change in client fund obligations   (26,342 )     13,931  
    Net cash provided by (used in) financing activities   (22,042 )     24,205  
    Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents   (31,910 )     13,580  
    Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period   177,622       164,042  
    Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 145,712     $ 177,622  
                   
     
    ASURE SOFTWARE, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
    (in thousands)
       
      Year Ended December 31,
      2024
      2023
           
    Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets
    Cash and cash equivalents $ 21,425     $ 30,317  
    Restricted cash and restricted cash equivalents included in funds held for clients   124,287       147,305  
    Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 145,712     $ 177,622  
           
    Supplemental information:      
    Cash paid for interest $ —     $ 3,140  
    Cash paid for income taxes $ 18     $ 432  
           
    Non-cash investing and financing activities:      
    Acquisition of intangible assets $ 5,338     $ 357  
    Notes payable issued for acquisitions $ 3,107     $ 1,209  
    Shares issued for acquisitions $ 9,125     $ 2,543  
                   
     
    ASURE SOFTWARE, INC.
    RECONCILIATION OF NON-GAAP AND ADJUSTED FINANCIAL MEASURES
    (unaudited)
                     
    (in thousands) Q4-24 Q3-24 Q2-24 Q1-24 Q4-23 Q3-23 Q2-23 Q1-23
    Revenue(1) $ 30,792   $ 29,304   $ 28,044   $ 31,652   $ 26,264   $ 29,334   $ 30,420   $ 33,064  
                     
    Gross Profit to non-GAAP Gross Profit                
    Gross Profit $ 20,928   $ 19,704   $ 18,868   $ 22,607   $ 17,839   $ 21,280   $ 22,018   $ 24,400  
    Gross Margin   68.0 %   67.2 %   67.3 %   71.4 %   67.9 %   72.5 %   72.4 %   73.8 %
                     
    Share-based Compensation   44     44     43     40     32     28     46     31  
    Depreciation   1,190     1,232     1,145     1,110     921     984     1,309     1,009  
    Amortization – intangibles   50     50     50     50     50     50     50     268  
    One-time expenses                
    Settlements, penalties & interest   25     2     3     —     (6 )   8     —     4  
    Acquisition and transaction costs   221     367     264     39     —     —     —     —  
    Other non-recurring expenses   84     —     —     —     —     —     —     —  
    Non-GAAP Gross Profit $ 22,542   $ 21,399   $ 20,373   $ 23,846   $ 18,836   $ 22,350   $ 23,423   $ 25,712  
    Non-GAAP Gross Margin   73.2 %   73.0 %   72.6 %   75.3 %   71.7 %   76.2 %   77.0 %   77.8 %
                     
    Sales and Marketing Expense to non-GAAP Sales and Marketing Expense
    Sales and Marketing Expense $ 6,945   $ 6,680   $ 6,924   $ 7,767   $ 6,422   $ 6,597   $ 8,515   $ 7,200  
                     
    Share-based Compensation   251     269     237     243     180     210     149     124  
    Depreciation   —     1     —     1     1     —     —     —  
    One-time expenses                
    Settlements, penalties & interest   78     (5 )   5     18     6     30     4     11  
    Acquisition and transaction costs   9     68     37     11     —     —     —     —  
    Other non-recurring expenses   52     —     —     —     —     —     180     —  
    Non-GAAP Sales and Marketing Expense $ 6,555   $ 6,347   $ 6,645   $ 7,494   $ 6,235   $ 6,357   $ 8,182   $ 7,065  
                     
    General and Administrative Expense to non-GAAP General and Administrative Expense
    General and Administrative Expense $ 9,940   $ 10,378   $ 10,118   $ 10,063   $ 9,747   $ 9,294   $ 10,336   $ 9,956  
                     
    Share-based Compensation   1,081     1,187     1,122     1,535     980     936     1,298     1,142  
    Depreciation   269     264     256     251     225     200     234     210  
    One-time expenses                
    Settlements, penalties & interest   142     377     304     98     284     101     432     102  
    Acquisition and transaction costs   282     371     245     57     51     —     —     —  
    Other non-recurring expenses   220     253     —     86     53     —     453     —  
    Non-GAAP General and Administrative Expense $ 7,946   $ 7,926   $ 8,191   $ 8,036   $ 8,154   $ 8,057   $ 7,919   $ 8,502  
                     
    Research and Development Expense to non-GAAP Research and Development Expense
    Research and Development Expense $ 2,103   $ 1,973   $ 1,962   $ 1,769   $ 1,739   $ 1,803   $ 1,325   $ 1,979  
                     
    Share-based Compensation   87     90     86     85     69     76     89     40  
    One-time expenses                
    Settlements, penalties & interest   21     —     27     31     —     —     —     —  
    Acquisition and transaction costs   153     195     369     147     —     —     —     —  
    Other non-recurring expenses   29     —     —     —     —     —     —     —  
    Non-GAAP Research and Development Expense $ 1,813   $ 1,688   $ 1,480   $ 1,506   $ 1,670   $ 1,727   $ 1,236   $ 1,939  
                                                     

    (1)Note that first quarters are seasonally strong as recurring year-end W2/ACA revenue is recognized in this period.

     
    ASURE SOFTWARE, INC.
    RECONCILIATION OF NON-GAAP AND ADJUSTED FINANCIAL MEASURES (cont.)
    (unaudited)
                     
    (in thousands) Q4-24 Q3-24 Q2-24 Q1-24 Q4-23 Q3-23 Q2-23 Q1-23
    Revenue(1) $ 30,792   $ 29,304   $ 28,044   $ 31,652   $ 26,264   $ 29,334   $ 30,420   $ 33,064  
                     
    GAAP Net (Loss) Income to Adjusted EBITDA
    GAAP Net (Loss) Income $ (3,204 ) $ (3,901 ) $ (4,360 ) $ (308 ) $ (3,582 ) $ (2,206 ) $ (3,765 ) $ 339  
                     
    Interest expense, net   211     109     (53 )   (156 )   (24 )   782     1,593     1,944  
    Income taxes   499     170     231     33     (158 )   (123 )   627     (237 )
    Depreciation   1,460     1,497     1,402     1,361     1,148     1,185     1,542     1,219  
    Amortization – intangibles   4,482     4,345     4,096     3,499     3,743     3,384     3,343     3,570  
    EBITDA $ 3,448   $ 2,220   $ 1,316   $ 4,429   $ 1,127   $ 3,022   $ 3,340   $ 6,835  
    EBITDA Margin   11.2 %   7.6 %   4.7 %   14.0 %   4.3 %   10.3 %   11.0 %   20.7 %
                     
    Share-based Compensation   1,463     1,591     1,488     1,902     1,260     1,251     1,582     1,337  
    One Time Expenses                
    Settlements, penalties & interest   266     375     339     147     283     140     436     117  
    Acquisition and transaction costs   665     1,001     914     254     51     —     —     —  
    Other non-recurring expenses   385     253     —     86     53     —     633     —  
    Other expense (income), net   2     —     —     (10 )   1     1,800     93     (83 )
    Adjusted EBITDA $ 6,229   $ 5,440   $ 4,057   $ 6,808   $ 2,775   $ 6,213   $ 6,084   $ 8,206  
    Adjusted EBITDA Margin   20.2 %   18.6 %   14.5 %   21.5 %   10.6 %   21.2 %   20.0 %   24.8 %
                                                     

    (1)Note that first quarters are seasonally strong as recurring year-end W2/ACA revenue is recognized in this period.

    Investor Relations Contact
    Patrick McKillop
    Vice President, Investor Relations
    617-335-5058
    patrick.mckillop@asuresoftware.com 

    The MIL Network –

    March 7, 2025
  • MIL-OSI: Five Star Bank Appoints Eric Marks Chief Consumer Banking Officer

    Source: GlobeNewswire (MIL-OSI)

    WARSAW, N.Y., March 06, 2025 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank (“Five Star” or the “Bank”) and Courier Capital, LLC, announced that Eric W. Marks has joined as Senior Vice President, Chief Consumer Banking Officer of the Bank.

    As Chief Consumer Banking Officer, Mr. Marks will have executive leadership and strategic oversight of the Bank’s consumer lines of business, including Retail Banking, Residential Mortgage, and Small Business Banking, as well as its Customer Contact Center and Collections departments. Mr. Marks’ deep banking experience, which includes many facets of consumer banking leadership, financial oversight and strategic planning, will serve him well as he looks to drive sustainable customer growth and customer-service excellence in Five Star’s retail network and its 49 banking locations across Western and Central New York. Mr. Marks will report to President and CEO Martin K. Birmingham and join the Company’s Executive Management Committee.

    “We are thrilled to welcome Eric Marks to Five Star Bank,” said Mr. Birmingham. “His deep understanding of all aspects of consumer banking, as well as his local roots and familiarity with our markets, will be very valuable as he supports the continued evolution, growth and, ultimately, the long-term success of our consumer banking offerings.”

    Mr. Marks commented, “I am excited to join a community bank like Five Star, which has a deep history here in Upstate New York. I look forward to being a part of its continued success as we focus on delivering a simple, connected and trusted banking experience in our markets, and helping our customers and communities thrive.”

    Mr. Marks joins Five Star from M&T Bank, where he had most recently served as its Retail Segment Chief Financial Officer. During his 19-year tenure at M&T, Mr. Marks held roles of increasing responsibility in several enterprise functions and lines of business, including corporate and consumer strategy, mortgage, branch distribution planning, consumer deposit pricing and portfolio management, as well as consumer indirect lending.

    Mr. Marks, who is based at Five Star Bank Centre in Amherst, N.Y., earned his bachelor’s degree from Mercyhurst University and his M.B.A. from the University at Buffalo. He has also completed an executive leadership course at the University of Michigan’s Ross School of Business. Mr. Marks has a long history of community volunteerism, previously serving on the boards of the Orchard Park Little League, the Orchard Park Boys and Girls Club, Western New York Heritage Press, and more.

    About Financial Institutions, Inc. and Five Star Bank
    Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.1 billion in assets as of December 31, 2024, offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

    Safe Harbor Statement
    This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “believe,” “anticipate,” “continue,” “estimate,” “expect,” “focus,” “”intend,” “may,” “plan,” “preliminary,” “should,” or “will.” Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; inflation; changes in deposit flows and the cost and availability of funds; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; whether the Company experiences greater credit losses than expected; whether the Company experiences breaches of its, or third party, information systems; the attitudes and preferences of the Company’s customers; legal and regulatory proceedings and related matters, including any action described in our reports filed with the SEC, could adversely affect us and the banking industry in general; the competitive environment; fluctuations in the fair value of securities in its investment portfolio; changes in the regulatory environment and the Company’s compliance with regulatory requirements; and general economic and credit market conditions nationally and regionally; and the macroeconomic volatility related to the impact of a pandemic or global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

    For additional information contact:
    Kate Croft
    Director, Investor and External Relations
    716-817-5159
    klcroft@five-starbank.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45b81392-4098-491e-a8f4-0824ccb09934

    The MIL Network –

    March 7, 2025
  • MIL-OSI United Nations: Leveraging South-South and triangular cooperation: inclusive and technological innovations for urban health and disaster risk reduction

    Source: UNISDR Disaster Risk Reduction

    Time: 8:00 New York | 13:00 Geneva | 19:00 Bangkok | 21:00 Incheon 
    Date: 12, 19, 26 March 2025 (Wednesdays)
    (Three 120-minute online sessions and one post-course survey)
    Workshop Language: English with simultaneous interpretation in Arabic, Chinese, French, Portuguese, Russian, Spanish and International Sign Language.

    Background

    Resilient and inclusive cities are key to achieving global commitments such as the 2030 Agenda for Sustainable Development, the Sendai Framework for Disaster Risk Reduction, and the Paris Agreement on Climate Change. These cities ensure no one is left behind by actively involving all community members, particularly marginalized groups like persons with disabilities, older persons, among others in resilience planning and decision-making. The Sendai Framework emphasizes that inclusive disaster risk reduction (DRR) is essential for effective risk management, while the 2030 Agenda highlights the importance of inclusivity in achieving Sustainable Development Goal 11, which aims to make cities inclusive, safe, resilient, and sustainable. The Pact for the Future (2024) further underscores the need to empower all individuals, regardless of their background, to contribute meaningfully to the design and implementation of urban resilience strategies.

    Technological solutions play a crucial role in disaster risk reduction and management by enhancing early warning systems, real-time monitoring, and rapid response capabilities. Countries and cities are increasingly adopting and sharing innovative solutions, such as satellite-based remote sensing, AI-powered predictive analytics, and IoT-enabled sensors, to detect hazards and improve disaster preparedness. Collaborative initiatives, including joint research, technology transfers, and capacity-building programs, enable developing countries to leverage cost-effective, context-specific innovations. Mobile applications, digital communication platforms, and drone technology—often co-developed through South-South and Triangular Cooperation—enhance response efforts, fostering resilience and data-driven decision-making across at-risk regions.

    In addition to these principles, South-South and Triangular Cooperation (SSTC) offers valuable opportunities to foster knowledge sharing, capacity building, and technology exchange among countries in the Global South. The Buenos Aires outcome document of BAPA+40 (2019) underscores the role of local authorities, women, and youth in advancing South-South and Triangular Cooperation and promoting inclusive societies to achieve sustainable development. By leveraging South-South and Triangular Cooperation, cities can adopt innovative solutions to address disaster risks, including the use of technology for early warning systems, data analytics, and inclusive infrastructure design. This approach aligns with global efforts, such as WHO’s Healthy Cities initiative, which integrates public health into urban planning to enhance resilience, inclusivity, and well-being. Through South-South and Triangular Cooperation, the use of technology, and a focus on inclusivity, cities can strengthen their disaster risk reduction capacities and better prepare for challenges such as climate change, urbanization, and other emerging risks.

    Since 2020, UNOSSC, UNDRR GETI, PAHO/WHO have jointly organized four certificate online training programmes. These programs focused on leveraging South-South and Triangular Cooperation, disaster risk reduction, and integrating health emergency response and preparedness into building resilient cities and societies, addressing various phases of the COVID-19 pandemic, including outbreak response, emergency management, and recovery. The training series has been highly successful, attracting over 9,800 live session participants and over 6,500 self-paced learners from 155 countries and territories.

    Building on its success, the fifth joint training will be held in March 2025 by UNDRR, UNOSSC and PAHO/WHO, aiming to provide a foundation for engaging multi-level governments and diverse stakeholders, particularly the most at-risk groups—such as women, older persons, and person with disabilities—in disaster risk reduction, health emergency, and disaster risk management. The course will emphasize the importance of a whole-of-society approach, the use of technology, and the facilitation of South-South and Triangular Cooperation in creating inclusive, resilient and healthy cities, featuring practical tools and examples.  

    Course Objective:

    This training serves as an introductory training for urban leaders, planners, and practitioners, aiming to:

    • Increase awareness and understanding for managing complex urban disaster risks, health emergencies, and disaster risk management, leveraging technology, and facilitating South-South and Triangular Cooperation;
    • Introduce useful concepts and tools to strengthen inclusion, especially the inclusion of persons with disabilities and older persons in urban disaster risk management;
    • Better prepare city stakeholders and engage them in making cities resilient and inclusive for future crises, health and non-health emergencies and uncertainties;
    • Facilitate learning through South-South and Triangular Cooperation and sharing of experience; 
    • Inspire and motivate whole-of-society to play a key and active role in securing resilient, inclusive and sustainable urban futures.

    Expected outcome:

    By the end of this training, participants shall be able to:

    • Describe disaster risk reduction, health emergency and disaster risk management, South-South and Triangular Cooperation, use of technology, and the whole-of-society approach for creating inclusive, resilient and healthy cities;
    • Apply concepts and tools such as the Disaster Resilience Scorecard for Cities – Inclusion of Persons with Disabilities, the Disability Inclusion in Hospital Disaster Risk Management Tool (INGRID-H), and health facilities strategic risk assessment;
    • Provide examples of good practices and relevant solutions by local government authorities and diverse stakeholders in inclusive and technology-driven disaster risk reduction, health emergency response preparedness, and South-South and Triangular Cooperation.

    Targeted Audience

    Local and national government officials in charge of disaster risk reduction and management, urban development and planning and public health emergency preparedness, national associations of municipalities, urban resilience and development practitioners, as well as civil society, private sector, and academia.

    The course is open to all participants from both developed and developing countries. Participants from Least Developed Countries (LDCs) and Small Island Developing States (SIDs) are highly encouraged.

    No. of Trainees: 

    Maximum 1,000 participants can attend the live training sessions, on a first come first served basis. 

    Facilitators:

    Experts from UNDRR, UNOSSC, and PAHO with guest speakers representing various stakeholder groups, e.g., older persons, youth, women, person with disabilities, local and national governments, and academic network.

    Post-course Survey

    To enable evidence-based course evaluation, a post-course survey will be disseminated to participants to collect feedback on the course content and organization, as well as understanding participants’ development needs for follow-up and to facilitate future programmatic designing.

    Certificate:

    Certificate of participation will be given only to participants who attend all three training sessions live and complete a post-course survey. 

    Programme

    Date Program

    Wed, 12 Mar 2025

    8 AM NY EST

    9 PM KST

    (120 minutes)

    Session 1: Inclusion of Persons with Disabilities in Disaster Risk Reduction (led by UNDRR)

    • Welcome Remarks by UNOSSC, PAHO and UNDRR
    • Course introduction
    • Introduction to Disaster risk reduction (DRR), urban resilience and Making Cities Resilient 2030 (MCR2030)
    • Disability Inclusive Disaster Risk Reduction (DiDRR)
    • Practical tool for strengthening meaningful participation and accessibility of persons with disabilities in DRR
    • Case examples and experience sharing from local governments and stakeholders
    • Mini quiz

    Wed, 19 Mar 2025

    8 AM NY EST

    9 PM KST

    (120 minutes)

    Session 2: Older Persons and Disability Inclusive Urban Health Emergencies and Disaster Risk Management (led by PAHO/WHO)

    • Welcome & introduction
    • Mini quiz
    • Resilient Cities for All: Addressing Health Emergencies and Disaster Risks for the older persons
    • Disability Inclusion in Health Facilities Disaster Risk Management

    Wed, 26 Mar 2025

    8 AM NY EST

    9 PM KST

    (120 minutes)

    Session 3: Leveraging Technological Innovation for Urban Disaster Risk Reduction and Management (led by UNOSSC)

    • Welcome & introduction
    • Panel Presentations
    • Q&A and Panel conclusion
    • Training Wrap-up
    • Closing Remarks by UNOSSC, PAHO and UNDRR

    Organizers

    The United Nations Office for Disaster Risk Reduction (UNDRR) Global Education and Training Institute (GETI) was established in 2010 to develop a new cadre of professionals in disaster risk reduction and climate change adaptation to build disaster resilient societies. GETI has a global mandate to provide capacity building support to mainstream disaster risk reduction and climate change adaptation into sustainable development; convene and support inter-city learning to strengthen resilience (Making Cities Resilient); and to provide capacity building and best practice sharing support to national training institutions working on resilience issues. Based in Incheon, the Republic of Korea, UNDRR GETI is also the global secretariat of the Making Cities Resilient 2030 (MCR2030).

    The United Nations Office for South-South Cooperation (UNOSSC) was established to promote, coordinate and support South-South and triangular cooperation (SSTC) globally and within the United Nations system. UNOSSC initiated the “Global South-South Development Center Phase II” (2025-2030), with full funding support from the Government of China, which aims to facilitate practical SSTC initiatives globally in advancing the Sustainable Development Goals (SDGs).

    Pan American Health Organization (PAHO/WHO) Health Emergencies Department works with countries of the American Region to increase the health sector resilience to emergencies and disasters. PAHO’s priority is to deliver rapid, predictable, and comprehensive support to Member States in terms of prevention, risk reduction, preparedness, surveillance, response, and early recovery in case of any threat to human health, including outbreaks or disasters caused by natural phenomena, biological, chemical or radiological agent, human activities, conflicts or any other hazard. When national capacities are overwhelmed, PAHO is ready to lead and coordinate the international health response to contain disasters, including outbreaks, and to provide effective relief and recovery to affected populations. 

    For more information, contact:

    MIL OSI United Nations News –

    March 7, 2025
  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the white paper on the future of European defence – B10-0150/2025

    Source: European Parliament

    B10‑0150/2025

    European Parliament resolution on the white paper on the future of European defence

    (2025/2565(RSP))

    The European Parliament,

    – having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas the EU is currently under attack, with hybrid incidents inside its borders, a large-scale war in its neighbourhood, and a realignment of global powers, all presenting real risks to the security of the EU and its citizens and requiring immediate, ambitious and decisive action;

    B. whereas the Commissioner for Defence and Space and the High Representative of the Union for Foreign Affairs and Security Policy are expected to present a white paper on the future of European defence on 19 March 2025, which should serve as a roadmap for such action;

    1. Urges the EU to act immediately to ensure its ability to protect its citizens, deter its enemies, support its allies and become a powerful defender of the rules-based international order and the principles of the European security architecture; urges the EU and its Member States to define a coherent, comprehensive and actionable strategy to achieve this; expects the Commission to present a proposal for such a strategy in its white paper on the future of European defence;

    2. Is firmly convinced that a united EU can overcome all the challenges it faces and become a global power for peace, security, human rights and sustainable development, but that this requires a strong EU budget or additional European financial instruments, a reliable and sovereign industrial basis, a full spectrum of European military capabilities, including strategic enablers, and an integrated command allowing all national forces to act under a unified structure at the service of the EU, alone or in complementarity with other allied forces;

    3. Believes that the strategy must include a renewed threat assessment, reflecting the recent unprecedented changes in the EU’s geopolitical context, a plan for supporting Ukraine against Russia’s war of aggression, as a key action to defend the EU’s values and protect its citizens and territory, a roadmap to close the capability gap, restore deterrence and enable autonomous EU action, and a plan to finance such vital transformations in the EU’s capacity to act;

    4. Stresses its firm commitment to continued close cooperation with NATO to reinforce deterrence, collective defence and interoperability; calls nonetheless for the development of a fully-capable European Pillar of NATO able to act autonomously whenever necessary;

    Assessing our threats and challenges

    5. Is convinced that the EU needs to define its foreign policy goals and strategic defence doctrine, identifying the most pressing challenges, systemic threats and rival actors, and to shape its defence strategy accordingly;

    6. Strongly believes that Europe is today facing the most profound military threat to its territorial integrity since the Second World War; believes that Russia and its allies are currently the most significant threat to our security and that of EU candidate countries and partners, and reiterates its condemnation in the strongest terms of Russia’s unprovoked, illegal and unjustified war of aggression against Ukraine; notes, however, that the instability in our southern neighbourhood, the rise in Chinese military power, the increased aggressiveness of some middle powers and the behaviour of the Trump administration, which appears ready to jeopardise transatlantic cooperation on common security and make a deal with the Russian aggressor at the expense of Ukrainian and European security, which are one and the same, must also be fully taken into consideration;

    7. Highlights the fact that on assessments by several European intelligence services, Russia will be ready to attack EU territory within 3 to 10 years, particularly if there is a ceasefire in its aggression against Ukraine that does not lead to a just and lasting peace; notes with deep concern that the Russian armed forces have grown in size and gained valuable battlefield experience, unlike any European forces with the exception of those of Ukraine, aims to have a 1.5 million-strong military by 2026 and has significantly ramped up its armaments production, making it an extremely worrisome threat for the EU’s security and for peace in Europe and globally;

    8. Strongly condemns Russia’s escalating hybrid warfare tactics within the EU and its neighbourhood, which encompass both non-physical and physical actions, including attacks on critical infrastructure and disruption of elections; highlights that Russia’s strategic doctrine includes significant conventional conflict in its conception and execution of hybrid war and conceives hybrid wars as the main line of future military development, rather than a temporary phenomenon; calls for the EU to immediately and significantly step up its ability to defend, attribute and punish hybrid warfare waged within its territory and that of candidate countries;

    9. Condemns all countries that are providing military equipment, financial support or any other form of assistance to Russia, thereby enabling and intensifying its ongoing aggression; warns of the very serious risks resulting from a widening of the Russian war of aggression against Ukraine; is deeply concerned that the involvement of Iran and North Korea will provide them with important lessons to modernise their military capabilities, and may accelerate their paths towards nuclearisation;

    10. Reaffirms its grave concerns about China’s increasing military investments and capabilities; expresses serious concerns about the renewed Chinese and Russian commitment to further strengthen their military ties and condemns China’s supplying of components and equipment to Moscow’s military industry;

    11. Notes with concern the increase in both intra and inter-state conflicts in the EU’s wider neighbourhood, in part driven by the hegemonic ambitions of several middle powers, the presence of aggressive non-state actors and by the fragility of several states; also notes that this leads to clear threats to the EU’s security, namely by fostering terrorism and increasing the destabilisation of populations, often forcing their displacement;

    12. Is deeply concerned by the recent actions of the Trump administration, which distance it from the values that have been at the core of its relationship with the EU, namely democracy, the rule of law, freedom of speech and support for the rules-based international order; regrets, in this regard, the votes of the US Government, aligned with the Russian Government, in the UN General Assembly and the UN Security Council on resolutions about the third anniversary of Russia’s war of aggression, as well as the unilateral decision to end Russia’s international isolation and to propose a normalisation of relations between them; strongly condemns any attempt to blame Ukraine, the victim, for the actions of the aggressor, Russia; urges the US Government to maintain maximum pressure on Russia until the latter agrees to a just and lasting peace for Ukraine; rejects any attempt by the US Government to impose a new security architecture on the EU and its Member States, and reiterates that any negotiation of such a security architecture must take place with the EU at the table; is deeply concerned by the actions of the US Government towards NATO and the doubts raised regarding the United States’ commitment to the security of the European continent; supports the peace process for Ukraine launched by European leaders, together with Ukraine, on 2 March 2025 in London, which seeks a just and lasting peace for Ukraine, and must be based on full respect for Ukraine’s independence, sovereignty and territorial integrity, the principles of international law, accountability for Russia’s war crimes and crime of aggression, Russian payments for the massive damage caused in Ukraine and credible security guarantees for Ukraine;

    13. Concurs with the assessment of the Strategic Compass that the EU is surrounded by instability and conflicts, but notes that in the meantime the situation has changed dramatically; believes that, altogether, these developments produce an encirclement of Europe that reduces its scope for the pursuit of democratically defined and autonomous interests and values, and that this requires an immediate response; recognises the evolving nature of global security threats and therefore calls for the EU to conduct more frequent threat assessments, as they are the precondition for a realistic and successful planning of capabilities and operations;

    Supporting Ukraine

    14. Urges the EU and its Member States, together with international partners and NATO allies, to immediately increase their military support to Ukraine in order to assist it in exercising its legitimate right to self-defence against the Russian war of aggression according to Article 51 of the UN Charter; calls, in this regard, for the swift adoption of the next military aid package, which should be the largest to date and reflect the level of ambition this juncture calls for; calls on the Member States, international partners and NATO allies to lift all restrictions on the use of Western weapons systems delivered to Ukraine against military targets in Russian territory; calls for a significant increase in the financing of military support to Ukraine; calls on the Member States, together with their G7 partners, to immediately seize all frozen Russian assets in order to maintain and step up the EU’s response to Ukraine’s military needs;

    15. Urges the Member States to immediately engage in joint procurement of additional capabilities, in particular ammunition for air defence and artillery, as well as any capabilities in which US assistance has played a key role thus far; further urges them to plan in advance for a possible sudden stop in US military assistance;

    16. Welcomes the continued support for the Ukrainian Armed Forces through the EU Military Assistance Mission in support of Ukraine, which has already trained more than 60 000 Ukrainian troops, and calls on the mission to continue training as many troops as possible; stresses the importance of specific training modules aimed at developing the capacities of existing and future officers of the Ukrainian Armed Forces across all levels and in accordance with their needs; emphasises that the mission should also act as a platform for the exchange of best practices that would ensure that European forces also benefit from the lessons learnt on the battlefield by the Ukrainian Armed Forces; calls on the Member States to further expand training operations for the Ukrainian Armed Forces, including training operations in Ukrainian territory;

    17. Insists on the paramount importance of cooperation with, and the integration of, the Ukrainian defence industry into the EU’s defence technological and industrial base (EDTIB), which offers clear advantages for both sides, and calls for speedier integration of the Ukrainian defence industry; recalls the importance of the European Defence Industry Programme (EDIP) to that effect, and highlights the urgency of properly financing EDIP’s Ukraine Support Instrument, which is currently not budgeted; calls on the Commission to include Ukraine and its defence industry in all its defence industrial programmes;

    18. Praises the ‘Danish Model’ for support to Ukraine, which consists of procuring defence capabilities produced directly in Ukraine; urges the EU and its Member States to strongly support this model and to make full use of its potential, as there is an underutilisation of Ukraine’s defence industrial capacity, estimated at around 50 %, and it brings many advantages to both sides, such as cheaper equipment, speedier and safer logistics as well as greater ease of training and maintenance;

    19. Calls for the EU and its Member States to actively work towards maintaining and achieving the broadest possible international support for Ukraine and identifying a peaceful solution to the war that must be based on full respect for Ukraine’s independence, sovereignty and territorial integrity, the principles of international law, accountability for Russia’s war crimes and the crime of aggression, and Russian payments for the massive damage caused in Ukraine; urges the EU and its Member States to participate in establishing robust future security guarantees for Ukraine;

    Closing the capabilities gap and restoring deterrence

    20. Strongly believes that strengthening Europe’s security and defence requires not just a simple increase in ambition and action, but a complete overhaul of the way we act and invest in our security and defence, such that from now on we plan, innovate, develop, purchase, maintain and deploy capabilities together, in a coordinated and integrated fashion, while making full use of the complementary competences of all actors in Europe, including NATO;

    21. Calls on the Commission to come up with a complete programme for defence, including against hybrid attacks, ensuring that planning, research, development, procurement and management of capabilities are all done through a European lens, and that all EU funds are used as a stimulus to joint EU action, instead of perpetuating the present state of market fragmentation, divergent and incompatible capabilities, and superfluous and wasteful investments; considers EDIP to be a good step forward and as such calls for its swift adoption;

    22. Recognises that the starting point must be a realistic assessment of the current capabilities and capability gap; calls on the Commission, with the support of the European Defence Agency and in cooperation with NATO, to identify critical defence capability gaps and shortfalls in the EU, in particular for strategic enablers, where the Member States have fallen behind and become dependent on non-European allies; furthermore, calls on the Commission to transform the capability gaps into clear industrial targets that can be the object of planning and programming and benefit from an industrial policy;

    23. Declares the EDTIB to be a strategic asset of the EU, and as such considers that the Commission should be tasked with its mapping and monitoring, so as to safeguard the EU’s strengths, reduce its vulnerabilities, avoid crises, and provide it with an effective and efficient industrial policy; calls on the Commission to draw on the EU Military Committee’s expertise in the definition of defence industries’ priorities and the formulation of defence initiatives in order to ensure alignment between industrial capabilities and military needs; recalls the importance of ensuring that the EDTIB is present in all Member States, distributing the burden and the benefits equitably, and preventing its disruption by a targeted attack on a particular area;

    24. Strongly believes that EU support for the production and procurement of defence products should focus on stimulating the EDTIB, increasing production volumes and ensuring the development of native European solutions for key capabilities, in particular for domains of action where we have so far relied on support from allies, and thus be oriented towards EU-based companies; rejects a scenario in which EU funds contribute to perpetuating or deepening dependences on non-European actors, whether for production of capabilities or their deployment; notes with concern that the vast majority of EU defence investment is diverted to defence industry players outside the EU; highlights that our investments should also contribute to bringing our European allies closer together, first and foremost Ukraine, but also Norway and the UK, finding synergies between complementary industrial strengths and bolstering the interoperability of our fighting forces; states, however, that joining common projects in defence and security requires a steadfast commitment to the EU’s values and norms and demands that any industrial partnerships with non-EU allies include strong safeguards on technology transfer and design authority, ensuring that we do not face restrictions on the use of the capabilities acquired; highlights that EU funds will provide opportunities for the defence industry, but also require a commitment to give priority to orders linked to ensuring European security and defence, in particular in times of crisis;

    25. Urges the Member States to radically change the way they procure defence products, choosing common procurement by default, and to consider tasking the Commission with undertaking joint procurement on their behalf; considers that all products procured in the EU, particularly those supported by EU funds, must respect strong safeguards on technology transfer and design authority;

    26. Welcomes all measures that allow a faster and more effective ramp-up of production of defence products in Europe, in particular those that are most needed for a land war; calls for a change in paradigm from a ‘flow’ approach to a ‘stock’ approach, with stock piles of materiel ready for a sustained increase in demand; notes, in this regard, the advantages offered by mechanisms such as advance purchase agreements, the establishment of ‘ever-warm’ facilities and the creation of defence readiness pools; calls on the Commission to support the Member States in developing wartime economic cooperation contingency plans with close partners to prepare for mutual support in the case of large-scale security crises involving them directly, and to deepen wartime economic dialogues with European and global partners;

    27. Highlights that the EDTIB cannot thrive without a true single market for defence; emphasises, in this regard, the need for an effective regulatory framework aimed at encouraging innovation and cross-border cooperation in production, procurement and investment; insists on the need to remove barriers to market entry for defence products across the EU and calls on the Commission to act upon the results of the reviews of the Directives on the transfer of defence-related products[1] and defence procurement[2], considering the obstacles and costs imposed by the current fragmented framework for certification of defence products; calls on the Commission to propose a regulation for common rules on the certification of defence products and the creation of a European defence certification authority; underlines at the same time the importance of maintaining fruitful competition between different undertakings in the single market for defence; calls on the Commission to propose a regulation on the standardisation of defence products with binding industrial standards, taking advantage of the lessons learnt from the implementation of NATO defence standards;

    28. Stresses the need for greater transparency and convergence at the national and European levels on arms exports; points out the need for the Member States to respect the EU Common Position on Arms Exports, while acknowledging their competences in their defence acquisition policies;

    29. Underlines the importance of Permanent Structured Cooperation (PESCO) in improving and harmonising the EU’s defence capabilities; reiterates its regret that Member States continue to not make full use of the PESCO framework; reiterates its call on the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy and the Member States, and with the involvement of the Commission, to assess projects and their potential regularly and comprehensively with a view to streamlining the current set of projects to a small set of priority projects; believes that priority projects must focus on reducing our dependencies regarding strategic enablers, such as battlefield command and control (C2), aerial and satellite intelligence, surveillance and recognition, satellite communication, air defence and suppression of enemy air defences, military mobility, strategic and tactical air transport and aerial refuelling, missile and deep strike capabilities, drone and anti-drone technologies, combat engineering and wet-gap crossing, and airborne electronic attack; believes that these could be European Defence Projects of Common Interest (EDPCI); regrets that Parliament is not in a position to properly scrutinise PESCO projects and calls for a change of paradigm for the governance of EDPCIs, such that Parliament is adequately involved; reiterates its call on the Member States to provide an implementation report on PESCO projects to Parliament at least twice a year;

    30. Calls on the Commission to propose an EU drones package, focusing on drone and anti-drone systems and auxiliary capabilities, containing plans and funds to stimulate research and development, which should learn from the Ukrainian experience and be open to the participation of Ukraine’s highly innovative companies, as well as an industrial programme dedicated to the joint development, production and procurement of drones and anti-drone systems, and a regulation on the use of drones in civilian and military contexts;

    31. Calls on the Commission to step up the ambition of the European Defence Fund, both quantitatively and qualitatively, and to better align its work programme with the capability planning exercises; recalls that the EU’s investment in defence research and innovation is much lower than that of its industrial competitors; considers that part of the investment from the European Defence Fund (EDF) should be designed to foster partnerships between academia, ministries of defence and the defence industry, and to the creation of dedicated research centres for defence; highlights the importance of promoting the participation of the most innovative high-tech companies from the civilian sector in the EDF;

    32. Recalls that the EDTIB is currently facing a shortage of skilled workers, and calls on the Commission and the Member States to develop a strategy to train, upskill and reskill workers; considers that funding from defence programmes must be paired with requirements regarding benefits for workers and communities where the investments are located, making the European defence industry a source of high-quality jobs and earning the EDTIB broad support from the population;

    33. Calls for the EU and its Member States to quickly improve the state of military mobility and logistics, removing all unnecessary obstacles that slow down the speed at which the EU can react to threats and deploy its forces;

    34. Calls for the EU to develop a comprehensive set of instruments to detect, prevent and react to hybrid attacks and threats and protect the Union’s citizens and assets, including critical infrastructure, but also democratic institutions and processes; reiterates its call on the Member States, the European External Action Service and the Commission to consider the creation of a well-resourced and independent structure tasked with identifying, analysing and documenting foreign information manipulation and interference (FIMI) threats against the EU as a whole to increase situational awareness and threat intelligence sharing, and develop attribution capabilities and countermeasures in relation to FIMI;

    35. Stresses the importance of enhanced intelligence sharing and information exchange among the Member States and EU institutions, including Parliament, to improve situational awareness and to be able to better anticipate and counter threats to collective security and define common lines of action under the common security and defence policy (CSDP), particularly in the area of crisis management; calls on the Member States to use the EU Intelligence Analysis Centre (EU INTCEN) as an effective intelligence-sharing body to share intelligence securely, formulate a common strategic culture and provide strategic information to better anticipate and respond to crises within and outside the EU; reiterates its call for the deployment of intelligence-gathering capacities in all CSDP missions and operations, which would provide information to the EU INTCEN, EU military staff, the EU’s Military Planning and Conduct Capability (MPCC) and the Civilian Planning and Conduct Capability;

    36. Welcomes the Niinistö report and its recommendations for strengthening Europe’s civilian and military preparedness and resilience; supports the adoption of a whole-of-society approach to resilience, involving the active engagement of the EU institutions, the Member States, civil society and individual citizens in strengthening the Union’s security framework; urges the EU to increase the alignment of existing EU instruments and policies, as well as that between EU and national policies, pioneering a ‘preparedness in all policies’ approach to security and defence, ensuring they do not generate contradictory obligations or jeopardise overall defence objectives, especially during a security crisis; expects the upcoming EU strategy on preparedness to offer details of the implementation of the report;

    Enabling autonomous EU action

    37. Recalls that the Strategic Compass provides the EU and its Member States with a framework for strengthening the EU’s security and defence and for advancing towards a common forward-looking strategic culture; reiterates that the Strategic Compass’s ambitious aims and milestones can only be achieved with the corresponding political will, adequate financial contributions and openness to cooperation where necessary; calls for the Member States to take all the necessary steps and decisions and fully implement the Strategic Compass; reiterates its call to strengthen the EU-s MPCC, establishing it as the preferred command and control structure for EU military operations and providing it with adequate premises, staff, enhanced command and control, and effective communication and information systems for all CSDP missions and operations, including those of the Rapid Deployment Capacity; insists that the Rapid Deployment Capacity must achieve full operational capability in the first half of 2025 at the latest, with at least 5 000 troops; calls on the Member States to urgently pursue a more ambitious pace and scale of command integration and joint operational capability, with the goal of enabling the EU to conduct large-scale operations independently, without reliance on non-EU countries for any capability, including strategic enablers; stresses that the EU and its Member States cannot develop consistent foreign and defence policies without strong support for democratic and agile structures and decision-making processes; underlines that further institutional discussions on removing the unanimity requirement to enhance cooperation should be explored;

    38. Underlines that in the current geopolitical context, the need for continuing to operationalise Article 42(7) of the Treaty on European Union (TEU) on mutual assistance, ensuring solidarity among Member States, especially those whose geographical position leaves them directly exposed to imminent threats and challenges, regardless of whether or not they are NATO members, is of utmost importance; calls on the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy to present concrete steps towards developing a true EU solidarity policy, including by clarifying the practical arrangements in the event of a Member State triggering Article 42(7) TEU;

    39. Notes that EU candidate countries are frequently the target of destabilisation campaigns, and thus calls for the EU to ensure them greater support, in order to preserve stability and security and increase defence cooperation, especially in the fight against disinformation and hybrid warfare; is concerned that otherwise it will act as an invitation to Russia to invade them before they finally join the EU;

    40. Reiterates the importance of EU-NATO cooperation, as NATO remains, for those states that are members of it, an important pillar of their collective defence, such that EU-NATO cooperation should continue, in particular in areas such as information exchange, planning, military mobility and exchange of best practices; highlights that all EU-NATO cooperation must be mutually beneficial and inclusive and respect the EU’s capacity to act autonomously; remains concerned, in this respect, that Türkiye, a NATO member and EU candidate country, excludes Cyprus from cooperation with NATO, hampering an enhanced relationship between the EU and NATO;

    41. Underlines the need for a strong EU defence pillar within NATO, able to act autonomously from, and in complementarity with, NATO, turning the transatlantic alliance into a more equal partnership, and granting the necessary security guarantees to the EU, its Member States and whoever else they deem it necessary to extend them to;

    42. Considers it essential to formalise a security and defence partnership with the United Kingdom as a means of strengthening European security and the European pillar of NATO, in particular in the context of Russia’s war of aggression against Ukraine; underlines, in this regard, the importance of closer cooperation on information and intelligence sharing, military mobility, security and defence initiatives, crisis management, cyber defence, hybrid threats, FIMI and in jointly addressing shared threats;

    43. Calls on the Commission and the Member States to ensure that all instruments of external action, including development aid and cooperation, are aligned with the EU’s security objectives, fostering resilient societies by promoting inclusive economic growth, good governance and human rights; emphasises the crucial role that diplomacy and development cooperation play alongside military efforts in ensuring long-term international security; underscores that sustainable peace cannot be achieved through military measures alone, but requires comprehensive strategies that address the root causes of instability, such as poverty, inequality, governance failures and climate change;

    Financing our security and defence

    44. Considers that, in order to be able to protect its citizens, deter its enemies, support its allies and become a powerful actor in the defence of a rules-based international order, the EU requires an immediate, substantial and sustained investment in security and defence, in particular at EU level, using a mix of public and private funds and incentivising better spending and better collective action; calls for the EU and the Member States to urgently agree on concrete financial solutions to finance security and defence-related investments; welcomes the ReArmEU initiative by the Commission as an important first step towards swift action;

    45. Recalls that the Commission has estimated the funding needed at EUR 500 billion over the next 10 years (2025-2034), including EUR 400 billion to strengthen Member States’ defence capabilities and EUR 100 billion to support Ukraine; notes higher estimates, such as a Bruegel study referring to EUR 250 billion annually in the event that the United States withdraws its military presence from Europe; highlights that the cost of isolated action is much higher than the cost of joint action, and that the EU and its Member states can also increase their preparedness by making current investment more efficient and coordinated; highlights that the cost of non-preparedness and the consequent loss of autonomy and potential military defeat is much higher than the cost of acting decisively now;

    46. Strongly supports increased investments in our security and defence to ensure that the EU and its Member States are able to face all types of threats, from hybrid to conventional, and establish strong deterrence, while reducing dependences; notes that insecurity, social exclusion and poverty are persistently weaponised by our enemies, as they make large swaths of people more vulnerable to hostile propaganda and anti-democratic narratives; demands therefore that the increased investments in our security and defence come on top of the important investments in social cohesion and welfare, and not instead of them; calls instead for a comprehensive EU investment strategy, based on a permanent fiscal capacity that addresses both vulnerabilities in military capabilities and in the social fabric, empowering us to fight all threats to our values, social model, security and defence; underlines that this pressing investment requires raising public financial resources quickly and in substantial volumes and that this should be based on the principle of social solidarity and a fair redistribution of wealth within our European societies; calls therefore on the Commission to propose new own resources and taxes on the stakeholders benefiting from the current economic and security situation, notably through windfall profits, in order to ensure a fair and sustainable contribution to our collective resilience; recalls that investing in security and defence brings many additional benefits for European society besides greater security and autonomy, and contributes to the desire to make the EU’s economy more competitive;

    47. Warns that simply increasing national defence spending without addressing coordination issues, redundant efforts, and misaligned strategies could be counterproductive as it may exacerbate force integration challenges and drive up procurement costs for all Member States by intensifying competition between them; is therefore concerned by the Commission’s proposals in ReArmEU to activate the escape clause of the Stability and Growth Pact for defence investments, which would change the fiscal rules without creating more fiscal space and without accompanying it with proposals for increased coordinated or joint spending; recalls that any exemption should take into account the need to avoid moral hazard and avoid rewarding countries with long-standing inadequacies in their security and defence spending; demands that the Commission and the Member States design any exemptions for defence spending ramp-up in a way that incentivises coordinated spending and ensures the definition of such investments takes into account all threats, including hybrid, and the need to improve military mobility, resilience and security of communications and the availability of skilled workers;

    48. Calls therefore for the bulk of the effort to serve EU-level action; regrets that the Commission’s ReArmEU initiative is mostly based on national expenditure; furthermore calls for the EU and its Member States to give prominent coordination roles to the Commission and the European Defence Agency in new financing instruments, which should be coupled with a complete programme for defence, including against hybrid attacks, ensuring that planning, development, procurement and management of capabilities is done together, in groupings of significant numbers of Member States, and often with the Commission and the European Defence Agency acting on their behalf;

    49. Recognises that the present multiannual financial framework (MFF) is unable to provide sufficient resources for security and defence, and rejects any increases in security and defence spending in the present and future MFFs at the expense of cohesion policy funds, as proposed by the Commission in its ReArmEU initiative; calls on the Commission and the Member States to adapt the cohesion policy funds to a new geopolitical reality, shifting from a reactive, crisis-response stance to a more proactive policy focused on resilience; underlines that the EU budget alone cannot fill the defence spending gap, but has an important role to play; calls for additional EU-wide and European solutions to bridge the gap until the next MFF; highlights the importance of future MFFs in transforming the current immediate increases in security and defence into structural and sustainable EU-level efforts to ensure the EU’s security and defence;

    50. Notes the proposals to make use of readily available sources of capital to finance security and defence, namely the unspent funds of NextGenerationEU and potential financial lines from the European Stability Mechanism, similar to the programme put together during the response to the COVID-19 pandemic; believes that these options could be explored, but would fall short of the needs estimated by the Commission;

    51. Calls therefore on the Commission to raise common debt to provide the Union with the fiscal capacity to borrow in exceptional and crises situations, present and future, taking into account the experience and lessons learnt from NextGenerationEU, as we are now experiencing a pressing need to boost security and defence to protect the EU’s citizens, restore deterrence and support our allies, first and foremost Ukraine; notes additional ideas to create a rearmament bank or a special purpose vehicle with pooled national guarantees to ensure Member States have easier access to markets; underlines that the meaningful involvement of Parliament as one arm of the budgetary authority in the governance of future EU defence spending is a sine qua non; reiterates that the governance of whatever instrument is used should be such that it gives rise to a European defence programme that uses the funds to solve coordination problems in planning, developing, procuring, maintaining and deploying capabilities, reduces dependencies from non-European countries, supports the EDTIB and ultimately enables the EU and its close allies to act autonomously and in a coordinated manner;

    52. Recognises the importance of mobilising private capital into security and defence; recalls, however, that, as governments remain the sole procurers of military capabilities, private capital will not replace public capital in the security and defence sector; calls on the Commission and the European Investment Bank (EIB) to consider an investment guarantee programme, similar to InvestEU, to assist in this effort; calls on the EIB to re-evaluate the list of excluded activities, to adjust its lending policy to increase the volume of available funding in the field of security and defence, and to investigate earmarked debt issuance for funding security and defence projects; calls for more consistent support for companies by reducing unnecessary administrative burdens and simplifying procedures, in particular by increasing information-sharing between public authorities, upholding the once-only principle and making full use of digital technologies; calls for the EU to start preparing emergency procedures for projects established in response to major crises or wars;

     

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    53. Instructs its President to forward this resolution to the European Council, the Council, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the President of the Commission and competent Commissioners, the EU security and defence agencies, and the governments and parliaments of the Member States.

     

     

     

    MIL OSI Europe News –

    March 7, 2025
  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the white paper on the future of European defence – B10-0144/2025

    Source: European Parliament

    B10‑0144/2025

    European Parliament resolution on the white paper on the future of European defence

    (2025/2565(RSP))

    The European Parliament,

    – having regard to the common security and defence policy (CSDP) and the common foreign and security policy (CFSP) of the EU,

    – having regard to the Treaty on European Union, and in particular Article 42 thereof,

    – having regard to Title III, Article 3 of the Protocol on the concerns of the Irish people on the Treaty of Lisbon,

    – having regard to the announced publication of the white paper on the future of European defence on 19 March 2025,

    – having regard to the Helsinki Accords,

    – having regard to the various European defence projects of recent years,

    – having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas, in line with the Treaties, the CSDP is part of the CFSP and is considered a policy framework through which Member States can develop a European strategic culture of security and defence, address conflicts and crises together, protect the Union and its citizens and strengthen international peace and security;

    B. whereas Article 42(2) TEU states that the Union’s CSDP must be compatible with the common security and defence policy established within the framework of the North Atlantic Treaty Organisation (NATO), under the North Atlantic Treaty;

    C. whereas NATO is largely dominated by the United States, and NATO membership entails a mandatory complementarity and compatibility of European weapons systems with US systems, hence impeding the strategic and operational autonomy of Member States and other European countries;

    D. whereas at the NATO Summit in Bucharest in 2008, the US Government pushed for Ukrainian NATO membership against the opinion of several Member States; whereas following the Russian invasion, the United States pushed EU Member States to systematically increase the quantity and quality of arms deliveries to Ukraine;

    E. whereas different Member States have different military and security policies, including policies of military neutrality;

    F. whereas the United States saw windfall benefits from the Ukraine war through an increase of US shale gas exports to the European Union; whereas the US Government now unjustly wishes to control Ukrainian mineral resources and negotiate an end to the war in Ukraine with Putin, without involving Ukraine and the European Union;

    G. whereas unlike nuclear weapon states such as India and the People’s Republic of China, NATO and Russia refuse to commit to a ‘no first use’ policy, whereby they would formally refrain from using nuclear weapons, except in retaliation to an attack by an enemy power using weapons of mass destruction;

    H. whereas the US Government has launched a high number of wars and military operations that violated international law and the principles of the Charter of the United Nations; whereas, in light of 2024 advisory opinions of the International Court of Justice, the United States’ ongoing military support for Israel might make it complicit in genocide and illegal occupation; whereas the participation of EU Member States in violations of international law, including in wars of aggression and military invasions contrary to international law against countries such as the former Yugoslavia, Afghanistan, Iraq and Libya, have undermined global adherence to the principles of international law;

    I. whereas the United States has forwardly deployed new B61-12 gravity bombs on the territory of EU Member States, increasing the risk that these Member States will fall victim to preventive or retaliatory strikes related to US foreign policy;

    J. whereas Russia’s repeated acts of war and aggression, starting with the war against Georgia in 2008, the annexation of Crimea in 2014 and the ongoing illegal war of aggression against Ukraine, as well as an increasing number of acts of sabotage on critical infrastructure, have been factors in creating and exacerbating tensions;

    K. whereas Article 41(2) TEU prohibits charging expenditure arising from operations with military or defence implications to the Union budget;

    L. whereas the Commission has nevertheless launched several European defence projects over the last few years, including the European Defence Industrial Development Programme (EDIDP), the Preparatory Action on Defence Research (PADR), the European Defence Fund (EDF), the European Defence Industry Reinforcement through common Procurement Act (EDIRPA), the Act in Support of Ammunition Production (ASAP) and, most recently, the European Defence Industrial Strategy (EDIS) and the European Defence Industry Programme (EDIP);

    M. whereas according to 2023 Stockholm International Peace Research Institute figures, EU Member States, together with the United Kingdom, already spend more nominally on defence than all other countries in the world combined, with the exception of the United States;

    N. whereas in April 2021, the Commission estimated that increased cooperation between Member States in the field of security and defence could save between EUR 25 billion and EUR 100 billion every year;

    O. whereas the Commission’s Directorate-General for International Partnerships (DG INTPA) is planning to shut down more than four out of five of its hubs worldwide, reducing its diplomatic presence from around 100 delegations to 18 hubs;

    P. whereas in 2024, EU leaders agreed to cut EUR 2 billion from the EU’s external action budget in the multiannual financial framework for 2021-2027; whereas several Member States, such as France and Belgium, have also made cuts and reforms to their diplomacy services;

    Q. whereas Commission President Ursula von der Leyen has proposed a new common instrument to boost military spending across the EU to unlock up to EUR 800 billion of additional defence spending over the coming years;

    R. whereas even the military spending of the United States, which maintains over 700 military installations in over 70 countries, does not exceed 3.46 % of its GDP;

    S. whereas, nevertheless, the US Government, certain Member States and NATO and Commission officials are pushing for a further massive increase in defence expenditure, from an average of 1.9 % of GDP to 5 %;

    T. whereas even the military-oriented Niinisto Report, entitled ‘Safer Together –Strengthening Europe’s Civilian and Military Preparedness and Readiness’ highlights the fact that threats to the security of European citizens, including increasingly frequent and intense extreme weather events, such as megadroughts, floods and heatwaves, and the risk of new pandemics, would require massive investment in public services;

    U. whereas while the Draghi report on the future of European competitiveness highlights the need for massive investment in a variety of sectors, including energy, pharmaceuticals and transport, the Commission has placed seven Member States under an excessive deficit procedure, pushing for harsh austerity and structural reforms in social and public expenses;

    V. whereas a further massive increase in military expenditure will instead lead to cuts in public services, and in social, climate and environmental spending throughout Europe, endangering the social and human security of European citizens;

    W. whereas the Commission is nonetheless considering the suspension of economic governance rules for military expenses;

    X. whereas the Commission has failed to present a fully autonomous assessment of European defence needs and priorities, relying instead on NATO assessments of critical gaps in defence capability;

    Y. whereas Türkiye, a NATO member, illegally occupies 37 % of Cyprus, an EU Member State;

    Z. whereas in international relations theory the ‘security dilemma’ refers to a phenomenon whereby actions, such as arms procurement, taken by a state actor to increase its own security provokes reactions from other states, such as increased arms procurement or preventive attacks, that ultimately lead to a decrease rather than an increase in the original state’s security;

    AA. whereas the 1975 Final Act of the Conference on Security and Cooperation in Europe, concluded in Helsinki between the United States, Canada, the Soviet Union and all of the countries of Europe, except Albania, played an important role in easing tensions between East and West during the Cold War;

    AB. whereas the Cold War collective security acquis has been systematically undermined by the United States’ withdrawal from the Anti-Ballistic Missile Treaty (ABM), the Intermediate-Range Nuclear Forces Treaty (INF) and the Open Skies Treaty, systematically followed by Russian withdrawals, and by the Russian withdrawal from the Treaty on Conventional Armed Forces in Europe and from the Comprehensive Nuclear Test Ban Treaty;

    AC. whereas a new European security architecture will have to apply the principles of peaceful coexistence between countries with different political systems and offer security guarantees to all parties in order to avoid Europe being divided once again into two diametrically opposed blocs;

    Towards a European collective security architecture

    1. Recalls that the Treaties consider the CSDP part of the CFSP; asks, therefore, that any defence initiative at EU level be subordinated to a clear foreign and security policy and strategy for peace on the European continent;

    2. Rejects the militarisation of the EU and any belligerent objectives of the CSDP;

    3. Notes with great concern the diminishing respect for international and humanitarian law by parties all around the world, with Israel, Russia and the United States being flagrant examples; reiterates the need for European independence in shaping foreign and defence policy;

    4. Considers that in light of the United States’ past and ongoing violations of international law and the negative impact of US military interventions on neighbouring regions, the foreign, security and defence policy of the Union and Member States can no longer be aligned with the framework of the North Atlantic Treaty Organisation (NATO); calls, therefore, on the European Council to start the process of revising the EU Treaties to remove this requirement from the TEU;

    5. Recalls that NATO and the EU are distinct organisations which serve very different purposes and whose membership is not even identical; regrets the conflation of NATO, a military alliance, with the EU;

    6. Is extremely worried by the fact that there are still more than 13 000 nuclear weapons scattered around the world, many of which can be deployed within minutes and could cause the end of humankind; notes with concern that despite a stated commitment to the Non-Proliferation Treaty, NATO’s nuclear member states invested USD 271 billion in nuclear weapons modernisation and maintenance between 2019 and 2023, while in 2023 China and Russia were the second and third largest spenders, with budgets of USD 11.9 billion and USD 8.3 billion respectively;

    7. Believes that NATO’s refusal to commit to a ‘no first use’ policy on nuclear weapons and the forward deployment of US nuclear weapons in Europe increases the risk of Europe becoming a target of nuclear strikes; demands, therefore, the withdrawal of US nuclear weapons from the territory of Member States; is deeply concerned about nuclear threats to European security, including veiled warnings about the use of tactical nuclear weapons and Russia’s lowering of its threshold for using nuclear weapons;

    8. Urges the Member States to work on a new long-term collective security architecture for Europe inspired by the principles of the Helsinki process and including the concept of mutual security guarantees; notes that a fundamental aspect of such an approach is respect for the sovereignty and territorial integrity of all nations and a commitment to international law;

    9. Insists that a new European security architecture apply the principles of peaceful coexistence between countries with different political systems, and offer security guarantees to all parties;

    10. Calls on the Commission, in light of multiple threats ranging from climate-related catastrophes to pandemics, to abandon a narrow focus on military security and develop a policy centred on human security as defined in United Nations General Assembly resolution 66/290, which states that ‘human security is an approach to assist Member States in identifying and addressing widespread and cross-cutting challenges to the survival, livelihood and dignity of their people’ and calls for ‘people-centred, comprehensive, context-specific and prevention-oriented responses that strengthen the protection and empowerment of all people’;

    11. Calls on the Commission and Member States to seek inspiration from Austria, which has enshrined neutrality in its constitution, committing not to join military alliances and not to permit the establishment of any foreign military bases on its territory;

    12. Calls on the Commission and Member States to also look to the example set by Ireland, with its tradition of military neutrality; recalls that this tradition includes an active approach towards peace support operations and crisis management, contributions to conflict resolution and peacebuilding, work for human rights and development, and efforts to promote disarmament and the elimination of weapons of mass destruction;

    13. Regrets the attacks on Irish neutrality and recalls that the people of Ireland were guaranteed continued military neutrality, underpinned by a commitment to only undertake operations with a United Nations mandate, ahead of their ratification of the Lisbon Treaty;

    14. Reiterates its call on Türkiye, a NATO member, to withdraw its troops from Cyprus, an EU Member State, and to work constructively towards finding a viable and peaceful solution based on the relevant UN resolutions;

    15. Calls for unanimity voting on defence issues to be maintained within the Council to promote consensus-based solutions that foster much-needed unity;

    Diplomacy as the cornerstone of European security

    16. Believes that diplomacy should remain a cornerstone of EU foreign policy;

    17. Recalls that conflict prevention is paramount to any security and defence strategy; underlines the fact that diplomacy prevents and ends wars, and that every euro invested in conflict prevention saves around EUR 16 later on;

    18. Believes that, given the deteriorating security situation on several fronts and increasing geopolitical tensions, preventive diplomacy requires sustained and enhanced attention; calls, therefore, on the Commission and Member States to immediately reverse the cutbacks made to diplomatic representations;

    19. Believes that its systematic alignment with US foreign policy, most recently with regard to Israeli war crimes, ethnic cleansing and genocidal practices against Palestinians, has dramatically reduced the EU’s global diplomatic credibility and therefore worsened its security situation;

    20. Recalls that the participation of EU Member States in illegal military operations and the support for violations of international law abroad gravely endangers the security of EU citizens; urges the Commission and Member States to explore a non-aligned foreign and security policy stance based on the principles of the UN Charter, including peaceful conflict resolution, diplomacy and multilateralism;

    21. Believes that Europe has much to gain from diversifying its relations and maintaining diplomatic connections with as many countries as possible around the world;

    Arms control, disarmament and non-proliferation

    22. Is deeply concerned that world military expenditure continues to rise to new record levels; highlights the fact that an arms race will not create security for European citizens, but instead, in line with the security dilemma, heighten the risk of violent conflict; calls on the Commission to actively promote new arms control treaties;

    23. Recalls that the EU strategy against the proliferation of weapons of mass destruction made non-proliferation a central goal of the EU’s CFSP, stating that ‘our objective is to prevent, deter, halt and, where possible, eliminate proliferation of concern worldwide’; calls, therefore, on Member States to sign and ratify the Treaty on the Prohibition of Nuclear Weapons;

    24. Notes that arms exports, also of small and light weapons, can fuel conflict and global terrorism and destabilise entire regions, states and societies, thereby thwarting sustainable development and crisis management efforts; calls on the Commission and Member States to strictly apply Council Common Position 2008/944/CFSP of 8 December 2008 defining common rules governing control of exports of military technology and equipment in order to avoid a worsening of the security situation in the EU’s immediate neighbourhood;

    25. Calls for the creation of a Directorate-General for Disarmament and Arms Control at the Commission;

    26. Demands an immediate arms embargo against Israel and any other country directly or indirectly involved in armed conflict, except in the case of those that are the victim of invasion by others, in order to stop EU complicity in war crimes, ethnic cleansing and genocidal practices, whether perpetrated by Israel or any other country; calls on the Commission and Member States to base their foreign and security policy on the principles of the Charter of the United Nations and international law;

    Defence expenditure

    27. Urges the Commission and Member States to offer full transparency and a critical audit of the current defence expenditure within the Union, detailing why it estimates that European countries would be unable to defend themselves with budgets already vastly superior to those of most of the world’s countries;

    28. Notes with concern that the Commission has presented a new EUR 150 billion common defence fund; believes that an increase in defence spending is not the solution to finding a lasting peace and that cuts in the EU structural funds should not be used for this purpose, given how vital these funds are to the development of local communities across the EU;

    29. Notes that the share of GDP is not an adequate measure for the efficiency and impact of defence expenditure; calls on the Commission and Member States not to enter an arms race through a massive increase in defence budgets at the expense of both human and social security;

    30. Regards the NATO demand for complementarity and compatibility of European weapons systems with US systems as incompatible with European strategic autonomy; regrets that the Commission and the Council have failed to present a detailed assessment of European critical defence capability gaps; calls on both institutions to present such an assessment, including specific priorities, before considering increased defence expenditure; recalls that these should focus on defensive tasks, not on building capacities for military intervention all over the world;

    31. Recalls Commission estimates that increased cooperation between Member States in the field of security and defence could save up to EUR 100 billion every year; calls, in this regard, for inspiration to be drawn from existing intra-European cooperation structures, such as BACA, the Belgian-Dutch Naval cooperation BeNeSam and the Nordic Defence Cooperation, including Denmark, Finland, Iceland, Norway and Sweden, which have increased the efficiency of the participating nations’ national defence, and to explore common synergies and facilitate efficient common solutions;

    32. Considers that the military cooperation commitments that may be assumed in collective security organisations should be considered in light of strict respect for the UN Charter;

    33. Rejects the allocation of appropriations on the EU budget to the EU’s militarisation; calls for the reallocation of EU budget funds earmarked for the ongoing militarisation of the EU and its programmes to respond to the social and economic needs of citizens and promote cohesion between Member States;

    34. Highlights the fact that there can be neither autonomy nor security without digital sovereignty; calls on the Commission to prioritise the development of a democratic, public-led digital stack that includes digital infrastructure as a service, and universal platforms, such as search engines and foundation AI models, governed by new public institutions with public and civil society representation;

    35. Calls for heightened cooperation between Member States on sectoral issues of critical infrastructure protection, such as submarine cables;

    Defence industry

    36. Recalls that over the past three years, the EU has adopted a number of new initiatives on defence, and that the new Commissioner for Defence and Space believes that an additional investment of EUR 500 billion is needed in the coming decade, though other sources speak of EUR 700 billion;

    37. Recalls that the previous EU programmes have been implemented with a lack of transparency with regard to the application of EU ethical guidelines, and that decision-making is extremely opaque and heavily influenced by arms industry lobbyists;

    38. States that without ethics in investment choices, the EU will contribute to the creation of a more dangerous and lawless world order, where imperialist powers can disregard international law without facing consequences, while countries of the global south are exploited for their resources;

    39. Calls, in addition, for the EU to adopt a policy of transparent, mission-oriented military spending, with more conscious spending at the service of a defined foreign policy to ensure greater efficiency;

    40. Recalls that under Article 41(2) TEU expenditure arising from operations having military or defence implications may not be charged to the EU budget; calls for a strict application of this article; demands a retroactive review of corresponding defence funds and budget lines and for their termination where needed;

    41. Expresses deep concern about the increased subsidies and public support for the military-industrial complex amid record total global military expenditure of USD 2 443 billion in 2023, making 2023 the ninth consecutive year in which military expenditure increased;

    42. Demands that European public money go to European companies and emphasises that public European companies should, by definition, remain in Europe, while private companies can relocate their activities if they so wish;

    43. Observes that leading arms companies have benefited shamelessly from the war in Ukraine; notes that Lockheed Martin alone distributed USD 6.8 billion of cash to shareholders in dividends and share repurchases in 2024; demands that windfall profits be taxed to finance climate adaptation, public health and housing, which are also components of a broader understanding of security;

    44. Considers that the use of public money should systematically correspond to a proportional public return on investment and not finance corporate profit;

    45. Stresses that focusing our resources, notably research and development spending, on the military sector will also slow down the development of other strategic industries with civilian purposes, such as renewable energy or pharmaceuticals;

    46. Adds that military spending does not address any of the major social or environmental challenges, and that, worse still, it reinforces polluting and energy-consuming industrial models, thus increasing pressure on resources and the climate, particularly critical materials;

    47. Believes that a massive increase in purchases of US-made goods would not only be detrimental to the European economy but would equally prolong Europe’s military dependence on the United States, while creating new industrial and technological constraints;

    48. Demands that the defence industry continue to be excluded from qualifying for the sustainability criteria with regard to investment;

    49. Calls for EIB financing to be strictly limited to civilian projects, excluding dual-use items;

    Reprioritising public services and social spending

    50. Is deeply concerned that militarisation, and specifically the ReArm Europe plan, is being used to further attack public services across the EU, which are already facing the suffocating effects of austerity measures imposed by the Commission;

    51. Is appalled by the fact that the Commission is willing to bend fiscal rules such as the Stability and Growth Pact to finance military spending, but considers it impossible to raise spending to fund crumbling public services and support social and economic upward convergence in Member States;

    52. Firmly insists that health, education, green mobility, climate adaptation, climate mitigation, biodiversity, food security and digital transition are elements of human security and should be considered priorities that require investments rather than budgetary cuts;

    53. Calls, in line with the concept of human security, for a reprioritisation of public services and social welfare spending, as well as for investments in fighting climate change, as imperative prerequisites for guaranteeing that people live in a safe and secure environment;

    °

    ° °

    54. Instructs its President to forward this resolution to the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy and the European External Action Service.

     

     

    MIL OSI Europe News –

    March 7, 2025
  • MIL-OSI New Zealand: Strategic Approach to Immunisation in New Zealand 2025–2030

    Source: New Zealand Ministry of Health

    Immunisation is a highly successful public health intervention. It safeguards individuals, whānau and communities against a range of potentially devastating diseases, and is a critical way of preventing and controlling infectious disease outbreaks. An accessible and effective immunisation system maximises immunisation uptake and coverage, improving the health of the population and enabling pae ora – healthy futures.

    The Strategic Approach to Immunisation in New Zealand 2025–2030 (the strategic approach) provides a renewed vision and strategic direction for the immunisation system for the next five years. It incorporates key lessons learned from our experience during the COVID-19 pandemic, and sets out high-level objectives and goals for the immunisation system to better protect individuals, whānau and communities against vaccine-preventable diseases.

    The strategic approach acknowledges that people have different needs and so individuals require different approaches to improve immunisation outcomes. It recognises the impact of social, economic, environmental and other factors on immunisation coverage, and focuses on working in partnership with stakeholders to address inequities in vaccination coverage and to achieve a highly effective immunisation system.

    MIL OSI New Zealand News –

    March 7, 2025
  • MIL-OSI Asia-Pac: Union Minister Dr. Jitendra Singh says, while India’s Bioeconomy grew more than 10 times in last 10 years, the biotech potential of Himalayan territories, particularly their agri-biotech potential, remains still under-explored.

    Source: Government of India

    Union Minister Dr. Jitendra Singh says, while India’s Bioeconomy grew more than 10 times in last 10 years, the biotech potential of Himalayan territories, particularly their agri-biotech potential, remains still under-explored.

    Highlights Agri-Biotech Potential in J&K, Credits Prime Minister Modi for India’s Bio-Economy Growth

    India’s biotech economy, which soared from a $10 billion valuation in 2014 to over $130 billion in 2024, is set to reach a massive $300 billion by 2030,

    Jammu & Kashmir: A Hub for Agricultural Biotechnology and Innovation

    DBT’s Budget from 1485crores in 2013-14 to 3447 crores in 2025-26 almost marking 130% increase.

    India’s Bio-Economy Set to Soar to $300 Billion by 2030, Says Dr. Jitendra Singh

    Posted On: 06 MAR 2025 7:41PM by PIB Delhi

    JAMMU, March 6 : Union Minister Dr. Jitendra Singh said here today that while India’s Bioeconomy grew more than 10 times in last 10 years, the biotech potential of Himalayan territories including Jammu & Kashmir, particularly their agri-biotech potential remains still under-explored.

    India’s biotech economy, which soared from a $10 billion valuation in 2014 to over $130 billion in 2024, is set to reach a massive $300 billion by 2030, according to Dr. Jitendra Singh’s projections. He highlighted the ongoing Bio-revolution in India, comparing it to the IT revolution in the West and underscoring the importance of India’s rich natural and biodiversity resources in fueling this transformation. He underscored the rise in DBT’s Budget from 1,485 crores in 2013-14 to 3,447 crores in 2025-26 almost marking 130% increase.

     

    The Minister underscored the transformative potential of Agri-Biotechnology J&K, with a special focus on the success of initiatives like the Aroma Mission and the floriculture revolution. He further highlighted India’s remarkable growth in biotechnology, positioning the country as a global leader in the field.

    Dr. Jitendra Singh was speaking at the PBBCON-2025, International and National Conference on “Emerging Innovations in Biochemistry and Biotechnology for Holistic Development of Agriculture” conference, in Jammu coinciding with the celebrations of India’s scientific achievements. He lauded Prime Minister Narendra Modi’s clarion call during the Mann Ki Baat for the nation to celebrate the day with festive fervor, a call echoed across Indian embassies worldwide.

    The Union Minister emphasized how Agri-Biotech initiatives such as the Aroma Mission and the floriculture revolution have been instrumental in boosting J&K’s agricultural economy. These programs have helped local farmers cultivate aromatic plants and flowers, creating a thriving industry for essential oils and floriculture products. Dr. Singh praised the region’s favorable climate and how biotechnological innovations are reshaping traditional agriculture into a lucrative startUp industry.

    Dr. Jitendra Singh also shared some key highlights from India’s biotech sector in 2024, including the development of the world’s first HPV vaccine, a breakthrough indigenous antibiotic ‘Nafithromycin’, and the pioneering gene therapy experiment for Hemophilia. He attributed these achievements to the Mission Suraksha initiative, which facilitated the creation of indigenous DNA-based vaccines during the COVID-19 pandemic. The world’s largest vaccination drive was one of India’s proudest moments.

    India is now ranked third in the Asia-Pacific region and 12th globally in terms of biomanufacturing, a fact Dr. Singh proudly highlighted. He noted the New BioE3 Policy, launched under Prime Minister Modi’s leadership, which places a special focus on biomanufacturing and bio-foundries, marking a new era for India’s biotechnology sector.

    The Anusandhan National Research Foundation (NRF), allocated ₹50,000 crores in the 2024 budget, is set to foster innovation, with a 60% contribution from the private sector. This will play a crucial role in nurturing India’s growing deep-tech and biotech startup ecosystem, which has seen exponential growth—from just 50 biotech startups in 2014 to nearly 9,000 today.

    Reflecting on the past decade of India’s scientific journey, Dr. Singh noted the rise of India as the third-largest startup ecosystem globally, driven by youth-led innovation. He mentioned that 5352 Indian Scientific Minds now feature in the Top 2% globally, underscoring India’s rise as a global hub for talent and innovation.

    India’s progress in the Global Innovation Index has been remarkable, jumping from 80th in 2014 to 39th in 2024, further solidifying its place among the world’s most innovative nations. Dr. Singh credited Prime Minister Modi for starting the “Start Up India, Stand Up India” movement, empowering young entrepreneurs to transform India’s economy.

    In addition to biotechnology, Dr. Singh also touched upon India’s growing prominence in nuclear energy. Once met with skepticism, India’s nuclear energy program is now recognized globally for its peaceful and sustainable ambitions. India has set an ambitious target of 100 gigawatts of nuclear energy by 2047.This vision is reshaping global climate strategies, with India’s nuclear policy, envisioned by Homi Bhabha, now seen as a model for responsible energy development.

    Dr. Jitendra Singh concluded by urging the youth of J&K to prepare for the region’s crucial role in India’s growth story, emphasizing that J&K, with institutions like SKUAST University, can be at the forefront of driving innovation in Agri-Biotech and other emerging sectors. He encouraged young minds to leverage the opportunities created by India’s expanding biotech sector and global scientific leadership.

    Earlier Vice Chancellor SKUAST Prof B.N. Tripathi and President National Society of Biochemistry & Biotechnology in Agriculture Dr Sharma also addressed the audience.

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    NKR/PSM

    (Release ID: 2108904) Visitor Counter : 25

    MIL OSI Asia Pacific News –

    March 7, 2025
  • MIL-OSI Security: Federal Jury Finds Owner and Captain of Southern Comfort Guilty of Seaman’s Manslaughter and Fraud

    Source: Office of United States Attorneys

    MIAMI – This week, a federal jury in Fort Pierce found Dustin Sean McCabe, 49, of Ocala, Florida, guilty of seaman’s manslaughter (both in his capacity as boat owner and boat captain of the vessel named Southern Comfort), lying to the Coast Guard, and committing Covid-19 pandemic relief fraud.

    South Florida Assistant U.S. Attorneys presented the following evidence at trial: In early March 2020, McCabe purchased a 48-foot boat, named it Southern Comfort, and falsely claimed on Coast Guard forms that he intended to use the boat recreationally. The truth was that McCabe planned to use the Southern Comfort to run paid scuba charters. He refitted the boat for that purpose by removing the vessel’s main deck engine controls, among other things. 

    On March 28, 2020, McCabe took paying passengers on a scuba trip aboard the Southern Comfort, but things did not go well. During the day’s two scuba dives, the Southern Comfort experienced significant mechanical malfunctions that included one of the vessel’s propellers activating unexpectedly, the loss of steering, and the vessel running aground. One of the incidents involved the port side propeller engaging when the vessel was in neutral during the pickup of a diver, which led to the diver being sucked toward the propeller and narrowly escaping.     

    Despite the close calls, McCabe took more paying divers out the next day, on March 29, 2020, without reporting the prior day’s incidents to the Coast Guard, warning his passengers of what had occurred, or fixing the boat. Again, the port side propeller engaged while the boat was sitting in neutral over a dive spot. As the victim diver and her spouse boarded the vessel, the propeller sucked the victim towards it – as it had done to a diver the day before. This time, unfortunately, there was no narrow escape, only tragedy: The propeller sucked the victim into it, mangling and cutting her. It twisted her leg up in its shaft, holding her under water. A medical examiner testified that while the victim’s many deep chop wounds and leg fractures were not fatal on their own, they caused serious pain that contributed to the victim’s death by drowning.

    As a result of the March 29 death, McCabe was prohibited from operating the Southern Comfort. He was never again seen working at the marina. As federal prosecutors proved during trial, this did not stop McCabe from applying for two loans from the Covid-19 era Paycheck Protection Program (PPP) – a federal relief program meant to help small businesses financially survive the pandemic. To secure the loans (and later their forgiveness), McCabe falsely claimed in the applications that his business was operational and submitted fraudulent payroll information and fake tax documents to support the lie.

    Sentencing is scheduled for June 12 at 10 a.m. before U.S. District Judge Aileen M. Cannon. McCabe faces up to 10 years in prison for seaman’s manslaughter, up to five years for making false statements, and up to 20 years for wire fraud.

    United States Attorney Hayden P. O’Byrne for the Southern District of Florida and Special Agent in Charge Josh W. Packer of the Coast Guard Investigative Service (“CGIS”) Southeast Field Office made the announcement.

    CGIS Southeast Field Office investigated the case, with assistance from U.S. Coast Guard Marine Safety Unit Lake Worth and the Florida Fish and Wildlife Conservation Commission Office of Law Enforcement.

    Assistant U.S. Attorney Zachary A. Keller, Coast Guard Special Assistant U.S. Attorney Tanner Stiehl, and Assistant U.S. Attorney Jacob Koffsky are prosecuting this case.

    You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at www.justice.gov/usao-sdfl.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov under case number 24-cr-80103.

    ###

    MIL Security OSI –

    March 7, 2025
  • MIL-OSI United Nations: What is the World Health Organization and why does it matter?

    Source: United Nations MIL OSI

    By Eileen Travers

    21 January 2025 Health

    When the plague, cholera and yellow fever rippled deadly waves across a newly industrialised and interconnected world in the mid-19th century, taking a global approach to health became an imperative. Doctors, scientists, presidents and prime ministers urgently convened the International Sanitary Conference in Paris in 1851, a precursor to what is now the largest of its kind: the World Health Organization, known as WHO.

    From laboratories to battlefields, the United Nations specialised health agency has been dedicated to the wellbeing of all people since 1948. It is guided by science and supported by its 194 member nations, including the United States, a co-founder that on Monday announced plans to withdraw.

    What has WHO done for the world? The short answer is – a lot. The UN agency currently works with its membership and on the health frontlines in more than 150 locations and has achieved many public health milestones.

    © WHO/Neil Nuia

    WHO and partners provide COVID-19 and other vaccines to remote communities, including in Kuvamiti in the Solomon Islands. (file)

    Here’s what you need to know about the planet’s biggest health body:

    Tackling emergencies

    Amid crises, conflict, the continuing threat of disease outbreaks and climate change, WHO has responded, from wars in Gaza, Sudan and Ukraine to ensuring lifesaving vaccines and medical supplies arrive in remote or dangerous areas.

    With healthcare facing unprecedented risks, WHO documented in 2023 over 1,200 attacks affecting workers, patients, hospitals, clinics and ambulances across 19 countries and territories, resulting in over 700 deaths and nearly 1,200 injuries.

    Indeed, WHO teams often go where others do not. They routinely evacuate injured patients and provide lifesaving equipment, supplies and services in conflict or disaster-ravaged areas.

    Watch below as WHO teams helped to unroll a multi-agency polio vaccination campaign in war-torn besieged Gaza in September 2024, when the fast-spreading virus reappeared 25 years after it had been eradicated:

    Tracking and addressing health crises

    Every day and through the night, teams of WHO experts sift through thousands of pieces of information, including scientific papers and disease surveillance reports, scanning for signals of disease outbreaks or other public health threats, from avian flu to COVID-19.

    WHO mobilises to prevent, detect and respond to infectious disease outbreaks while also strengthening access to essential health services.

    That includes bolstering hospital capacity to do everything from delivering new babies to treating war injuries and training healthcare workers.

    © WHO/Ploy Phutpheng

    A laboratory scientist works at a WHO collaborating research centre in Thailand. (file)

    Eliminating diseases around the world

    A wide range of diseases and conditions are ripe for elimination given the right public health policies, including neglected infectious and vector-borne diseases, sexually transmitted infections, diseases passed from mother to child and those that vaccines can prevent.

    The UN health agency supplies essential medicines and medical equipment while working to enable – and where possible, strengthen – laboratory capacity to diagnose diseases.

    In 2024, WHO Member States achieved several milestones in tackling these major global health challenges. Seven countries (Brazil, Chad, India, Jordan, Pakistan, Timor-Leste, and Viet Nam) eliminated a range of tropical diseases, including leprosy and trachoma.

    Mother-to-child transmission of HIV and syphilis have been eliminated in Belize, Jamaica and Saint Vincent and the Grenadines, and Namibia reached a key milestone towards elimination of mother-to-child transmission of HIV and hepatitis B.

    WHO has also played a key role over the past seven decades, including in eradicating smallpox in 1980, achieving the near eradication of polio and providing lifesaving assistance in Gaza during the recent war.

    © WHO/Sebastian Meyer

    A WHO mobile clinic provides services in Duhok, Iraq. (file)

    AI and digital health

    WHO is embracing new frontiers, including artificial intelligence (AI), in digital health.

    As the influence of emerging AI technologies continues to grow, WHO is working to ensure its safety and effectiveness for health.

    That includes new guidance published last October listing key regulatory considerations on such issues as harnessing the potential of AI to treat or detect conditions like cancer or tuberculosis while minimising risks like unethical data collection, cybersecurity threats and amplifying biases or misinformation.

    WHO/Blink Media/Juliana Tan

    In Singapore, digital devices help patients reach their healthcare providers. (file)

    Taking on deadly climate-related health crisis

    The climate-related health crisis affects at least 3.5 billion people – nearly half of the global population.

    Extreme heat, weather events and air pollution caused millions of deaths in 2023, putting enormous pressure on health systems and the working population, from current wildfires burning across the US west coast to deadly flash floods in Indonesia.

    WHO/J.D.Kannah

    An Ebola virus survivor in the Democratic Republic of Congo has his eyes checked at a WHO-supported eye clinic in North Kivu. (file)

    Part of WHO’s response has been to protect health from the wide range of impacts of climate change, which includes assessing vulnerabilities and developing plans.

    The UN agency has also worked on implementing response systems for key risks, such as extreme heat and infectious disease and supporting resilience and adaptation in health-determining sectors such as water and food.

    What’s WHO working on now?

    WHO is leading efforts for a global treaty take a further, deeper step to strengthen pandemic prevention, preparedness and response, much along the lines of the founders of the 1851 International Sanitary Conference.

    The UN agency is also currently working to achieve its “triple billion targets”.

    Set in 2019, the targets are that by 2025, one billion more people will be benefitting from universal health coverage, one billion more people will be better protected from health emergencies and one billion more people will be enjoying better health and wellbeing.

    Who leads WHO?

    The leadership is truly international.

    Based in Geneva, the UN agency is headed by Tedros Adhanom Ghebreyesus.

    The current approved biennium programme budget for 2024-2025 is $6.83 billion, coming from member assessments, alongside voluntary contributions.

    WHO’s decision-making body, the World Health Assembly, is made up of its member nations, which meet annually to agree on WHO priorities and policies.

    Members make decisions on health goals and strategies that will guide their own public health work and the work of the WHO Secretariat to move the world towards better health and wellbeing for all. That includes implementing reform measures that have made WHO more effective.

    Learn more about WHO here and in our latest video below:

    MIL OSI United Nations News –

    March 7, 2025
  • MIL-OSI Global: Modern workplaces were never designed for mothers, and it’s time for that to change

    Source: The Conversation – Canada – By Erica Pimentel, Assistant Professor, Smith School of Business, Queen’s University, Ontario

    Close to 80 per cent of mothers work outside the home, yet they are are consistently paid less for their work and passed up for job opportunities.

    A recent survey from the United States found that two-thirds of mothers considered leaving the workforce in 2024 due to the stress and cost of child care — an issue most pronounced among Gen Z mothers, with 82 per cent reporting these concerns.

    Our recent research study calls for recognition of the physical and emotional toll of motherhood on women at work. The essay draws on a combination of personal experience and academic research to examine situations where mothers are pulled between work and family obligations.

    We found that many working mothers are faced with the impossible trade-off of balancing full-time work with full-time mothering. It’s no wonder that many mothers feel like they don’t belong in the workplace.

    An impossible trade-off

    The demands of the modern workplace are at odds with contemporary expectations of motherhood. Today, mothers spend twice as much time with their children as they did in the 1970s.

    Contemporary mothers are expected to practise “intensive mothering,” a parenting style that requires them to be intimately involved in the minutiae of their children’s lives, like attending multiple after-school activities.

    On the other hand, professional workplaces are becoming increasingly demanding of all workers. American sociologist Alison Wynn coined the term “everwork” to refer to the “combination of overwork, face time, constant availability, and unpredictability” that have become the norm in professional workplaces.

    The demands of the modern workplace are at odds with contemporary expectations of motherhood.
    (Vitolda Klein/Unsplash)

    Wynn refers to mothers as “tightrope walkers” trying to balance personal and professional responsibilities under the conditions of everwork, with the potential to fall at any time. Worse still, mothers who try to reconcile their personal and professional obligations by leveraging flexible working options are often penalized with more intense workloads and lost opportunities for professional development.

    The simultaneously increasing demands of motherhood and professional life are untenable. Women are expected to work in spaces where performance expectations are simply inconsistent with the reality of family life. Naturally, this is taking a toll: almost half of Canadian mothers report they’ve reached their “breaking point,” meaning they feel overworked, overwhelmed and undervalued.

    Struggling to fit into workplaces

    Not only do many women believe workplaces are hostile to motherhood, but many also feel that their bodies are not welcome there. Societal norms dictate how women should look and dress at work.

    This stress only intensifies during pregnancy. Sociologist David J. Hutson explains how pregnant women oscillate between concealing their bodies in early pregnancy to learning how to deal with unwanted comments and uninvited touching in later maternity.

    Many pregnant women are expected to endure this uncomfortable behaviour as a form of emotional labour, a term coined by U.S. sociologist Arlie Hochschild to describe the way women are taught to manage their emotions to make others feel better.

    Many mothers feel like their bodies are not welcome in the workplace.
    (Shutterstock)

    Although laws exist to protect pregnant women from discrimination, this doesn’t prevent colleagues from engaging in practices that make pregnant women feel like they do not belong.

    Many mothers also struggle with the physical realities of having a postpartum body in the workplace, such as dealing with leaky breast milk overflows from engorged breasts, unpredictable menstrual cycles and other postpartum changes. While some workplaces provide breastfeeding spaces, this is far from the norm, leaving women to adapt to the rhythms and spaces of the office on their own.

    Even long after giving birth, women must remain attentive of their appearance at work. Researchers shows that women who look too “mothering” risk being taken less seriously at work. Dressing like a mom is sometimes used as an insult to describe women who choose an easy to manage hairstyle, don’t wear makeup or prioritize comfort over fashion when choosing their clothes.

    Women are expected to control and manage their bodies to conform to workplace norms before, during and after pregnancy — expectations that are at odds with their biology.

    Making workplaces work for mothers

    As experts in motherhood and mothers ourselves, we are adamant that things need to change. Our recent research outlined a three-pillar call to action to make workplaces more inclusive and equitable toward mothers.

    1. Enlist allies and resist negative attitudes about motherhood. Much of modern motherhood has become a logistical battle. Workplaces should implement institutional policies that recognize these logistical challenges, such as a four-day work week or flexible hours. Mothers must also build strong support networks, especially in places like the workplace where positions of power are often occupied by those who aren’t mothers.

    2. Recognize the physical toll of mothering and normalize maternal bodies. Workplaces must break down taboos surrounding maternal bodies by creating dedicated spaces for breastfeeding and breast pumping, and running awareness campaigns to normalize these needs. Workplaces should also hire more women — particularly mothers — into leadership roles. When maternal bodies become a common and accepted presence at work, they will no longer be a subject of scrutiny.

    3. Recognize the emotional cost of mothering. The emotional burden of parenting, like imbuing children with good values and guiding their decision-making, is the most taxing part about being a parent. Workplaces should acknowledge this by redesigning performance evaluations to account for the time and energy needed for caregiving. This could also mean considering parental and caregiving roles in annual performance evaluation criteria.

    Mothers and those who care about them must come together to demand better workplace conditions, not just for mothers, but for others as well. Only through collective action can we create lasting change.

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

    – ref. Modern workplaces were never designed for mothers, and it’s time for that to change – https://theconversation.com/modern-workplaces-were-never-designed-for-mothers-and-its-time-for-that-to-change-250584

    MIL OSI – Global Reports –

    March 7, 2025
  • MIL-OSI USA: Attorney General James Delivers More Than $344,000 of Baby Formula to Bronx Families

    Source: US State of New York

    EW YORK – New York Attorney General Letitia James today announced that her office secured more than $344,000 worth of baby formula from Marine Park Distribution Inc. (Marine Park) for families in the Bronx. The donation is part of the $675,000 worth of baby formula that Attorney General James secured as a result of her settlement with Marine Park and its affiliate Formula Depot Inc. (Formula Depot) for illegal price gouging during the nationwide formula shortage in 2022. An investigation by the Office of the Attorney General (OAG) found that Marine Park and Formula Depot raised prices of formula during the shortage in violation of New York’s price gouging laws. At times, Marine Park doubled the price of a can of formula, charging its customers up to $36 for a can of formula that cost $18 before the shortage. The Office of the Attorney General (OAG) will work with Roads to Success, a nonprofit in the Bronx, to distribute the formula to families in need.

    “Using a national emergency to raise prices on hardworking families who are struggling to find enough food for their children is despicable,” said Attorney General James. “Marine Park broke the law when they took advantage of a dangerous formula shortage to make even higher profits, and now they have to pay for it. Thanks to my office’s investigation, today we’re delivering essential baby formula to families in the Bronx. I thank Roads to Success for their work to distribute this formula to those in need, and I will continue to go after price gougers who try to cheat New Yorkers during a crisis.”

    “We are deeply grateful to Attorney General Letitia James and her office for their unwavering commitment to supporting families in need,” said Sheila Duke, CEO of Roads to Success. “Access to baby formula is not just a necessity, it is a lifeline for parents striving to provide for their children. At Roads to Success, we witness struggles of families facing food insecurity, and we know how critical this support is for the health and well-being of infants in our community. This generous donation will bring much-needed relief to Bronx families. We are honored to play a pivotal role in distributing these essential resources and remain committed to advocating for the well-being of the families we serve.”

    New York’s price gouging laws prohibit vendors from unconscionably increasing prices on goods that are vital to consumers’ health, safety, or welfare during market disruptions such as the 2022 formula shortage. In May 2022, Attorney General James issued warnings to more than 30 retailers across the state to stop overcharging for baby formula after consumers reported unreasonably high prices.

    Baby formula is a critical food source for the vast majority of infants across the country. Three out of four infants in the U.S. consume baby formula during the first six months of their lives. The 2022 shortage caused by a manufacturing plant closure and recall created significant hardship for families across New York as supplies dwindled and prices rose. An OAG investigation found that Marine Park, which sells baby formula to retailers, and Formula Depot, which sells to consumers online, raised prices over 60 percent more than was allowed under the law during the shortage, generating hundreds of thousands of dollars more in revenue. One consumer, who relied on Formula Depot for formula safe for babies with milk and soy allergies, bought a case of formula for $190, only to be charged $245 for the same case just a few weeks later.

    As a result of OAG’s investigation, Marine Park and Formula Depot must provide $675,000 of baby formula that Attorney General James will donate to New Yorkers in need by November 2025. In addition, the two companies are barred from future price gouging and have paid a $75,000 penalty to the state. In December 2024, Attorney General James made the first formula donation of 3,300 cans of baby formula worth about $140,000 to Foodlink in Rochester. Today’s donation will deliver 7,520 cans of powder formula and 3,510 bottles of liquid formula to families in the Bronx through Roads to Success, a nonprofit organization that runs a DYCD Cornerstone Program for youth and adults at the Boston Secor Community Center.

    Bronx residents face the highest rate of food insecurity in the state, with nearly one in three children lacking consistent access to enough food. Child poverty in the Bronx is higher than in any other county in New York, and Bronx residents use food pantries at a higher rate than residents of any other borough. The OAG’s formula donation will provide much-needed food assistance to families in need.

    “This donation provides necessary relief for Bronx families, ensuring parents don’t have to choose between feeding their children and affording other necessities,” said Senator Nathalia Fernandez. “I applaud Attorney General James for turning a bad situation into meaningful action—taking the greed of price gougers and using it to support the very people they tried to exploit.”

    “No parent should ever have to choose between feeding their child and paying their bills. The price gouging during the formula shortage was not only an exploitation of desperation but a direct attack on struggling families. Today’s victory is a testament to the power of accountability,” said Senator Robert Jackson. “I commend Attorney General James for standing firm against corporate greed and ensuring Bronx families receive the support they deserve. This donation is more than just baby formula—it’s a symbol of our unwavering commitment to economic justice, dignity, and the fundamental right of every child to be nourished and cared for.”

    “No parent should have to worry about how they will feed their child,” said Assemblymember Jeffrey Dinowitz. “This significant donation of baby formula, secured by Attorney General James, will bring vital relief to Bronx families who have faced unnecessary hardship due to price gouging. I applaud Attorney General James for holding bad actors accountable and ensuring our communities receive the support they deserve.”

    “Today’s donation of over $344,000 worth of baby formula is a vital step in ensuring that Bronx families have access to the essential resources they need,” said Bronx Borough President Vanessa L. Gibson. “We applaud Attorney General James for holding those who took advantage of vulnerable families accountable and securing these necessary goods for our community. As we continue to support families in need, we are reminded of the importance of protecting New Yorkers from unfair practices, especially during times of crisis.”

    Attorney General James has been a leader in the fight to protect New York consumers and guard against price gouging. In October 2024, Attorney General James led a multistate coalition urging congressional leaders to support a national ban on price gouging. In March and April 2024, Attorney General James distributed over 9,500 cans of baby formula in Buffalo and New York City from a settlement with Walgreens for price gouging during the formula shortage. In May 2023, Attorney General James secured a $100,000 settlement with Quality King Distributors, Inc. due to unconscionable price increases for Lysol products during the early days of the COVID-19 pandemic. In March 2023, Attorney General James announced price gouging rules to protect consumers and small businesses from corporate profiteering. The rules would strengthen enforcement of New York’s price gouging law. In April 2021, Attorney General James delivered 1.2 million eggs to food pantries throughout the state which were secured as part of an agreement with the nation’s largest egg producers for price gouging in the early months of the pandemic. 

    New Yorkers should report potential concerns about price gouging to the OAG by filing a complaint online or calling 800-771-7755.

    This matter was handled by Assistant Attorney General Benjamin C. Fishman, under the supervision of Bureau Chief Jane M. Azia and Deputy Bureau Chief Laura J. Levine, all of the Consumer Frauds and Protection Bureau. Former Data Scientist Jasmine McAllister also assisted in this matter, under the supervision of Director of Research and Analytics Victoria Khan, Deputy Director Gautam Sisodia, and former Director Megan Thorsfeldt. The Consumer Frauds and Protection Bureau is a part of the Division for Economic Justice, which is led by Chief Deputy Attorney General Chris D’Angelo and is overseen by First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI USA: Keeping Riders and Transit Workers Safe on Subways

    Source: US State of New York

    overnor Kathy Hochul today marked one year since enacting her five-point subway safety plan by highlighting reductions in New York City transit crimes and her administration’s ongoing efforts to expand safety initiatives throughout the transit system. Last year, Governor Hochul announced a surge in State personnel to assist with NYPD bag checks, directing the MTA to accelerate camera installation throughout the system, and also increase the number of Subway Co-Response Outreach (SCOUT) teams throughout the system — which operate in addition to the existing Safe Options Support (SOS) teams. Earlier this year, Governor Hochul announced additional steps to increase law enforcement presence, expand public resources and strengthen mental health policies to make the transit system safer. These new measures included partnering with New York City officials to increase NYPD patrols on subway platforms and trains; installing new protective barriers on subway platforms to protect riders; upgrading fare gates and delaying egress on exit gates to help crack down on fare evasion; adding LED lighting throughout stations to increase visibility; and updating and strengthening key mental health laws to ensure that New Yorkers with severe mental illness are connected with care instead of being left to languish on subway trains and platforms.

    “Keeping New Yorkers safe is my top priority — and I’ll never stop working to ensure riders can rely on our subways to safely get wherever they need to go,” Governor Hochul said. “By adding uniformed officers to every train, fortifying our transit infrastructure, and expanding mental health outreach, we’ve made real progress in driving down transit crime. Working in partnership with law enforcement, district attorneys and mental health experts, we’re working to make the subways safer for every straphanger.”

    As a result of these initiatives, major transit crimes are down 29 percent and arrests are up 71 percent year to date. When looking at the same time period, major transit crimes are down 28 percent from pre-pandemic levels in 2019. In the first nine weeks of 2025, New York City is experiencing the lowest number of subway crimes in 30 years, outside of the pandemic. Crime is 55 percent lower than in 2001 and 32 percent lower than in 2013.

    MTA Chair and CEO Janno Lieber said, “It’s not a mystery — more cops, more enforcement, and more effective mental health outreach and treatment directly cuts down on transit crime. Now we need legal changes proposed by Gov. Hochul that will ensure recidivist criminals aren’t free to keep preying on subway riders.”

    Governor’s Five Point Plan to Address Subway Safety

    Governor Hochul’s five-point plan utilizes State resources to protect New Yorkers on the subways. This includes surging State personnel to assist NYPD bag checks, a program bill that permits transit bans for individuals that assault other passengers, the addition of new cameras to protect conductor cabins, increased coordination between District Attorneys and law enforcement and an increased number of Subway Co-Response Outreach (SCOUT) teams throughout the system — which operate in addition to the existing SOS teams. These actions build on the Governor’s unprecedented investment in safety on the subways, from standing up SOS teams to directing the MTA to install cameras in every subway car. Governor Hochul also called on judges to use their expanded discretion to set bail to keep repeat offenders off the streets.

    Increasing Law Enforcement Presence Throughout the Transit System

    Governor Hochul is working in partnership with New York City to increase New York Police Department (NYPD) presence on platforms and trains by temporarily surging patrol levels in addition to the National Guardsmen that have been re-deployed into the transit system. Approximately 750 NYPD officers will be stationed across New York City with an additional 300 in the train cars themselves. The increase in enforcement will prioritize 30 subways stations and transit hubs that account for 50 percent of crime in the transit system.

    The Governor worked with New York City to increase police patrols on every overnight train for a six month time period. NYPD officers are working from 9 p.m. to 5 a.m., and there are two uniformed officers onboard every subway train in service during those hours.

    This expansion of law enforcement patrols builds on the Governor’s previous announcement in December 2024 to add an additional 250 members of the National Guard to support subway safety, bringing the total to 1,000 National Guardsmen stationed at subway entrances in points throughout New York City.

    New Public Safety Resources To Protect Riders and Prevent Fare Evasion

    Governor Hochul will provide the funding to install platform edge barriers at more than 100 additional stations by the end of 2025. The selection of stations for the installation process will prioritize feasibility, including stations with standard car-stopping positions in segments of the 1, 2, 3, 4, 5, 6, 7, F, M and L trains. Among these train lines, stations with higher ridership levels and island platforms will be prioritized.

    To address fare evasion, Governor Hochul will invest in modern fare gates in more than 20 stations across the system in 2025, and an additional 20 stations in 2026.

    Additionally, exit gates will delay egress at 150 additional stations in an effort to reduce fare evasion. At the Governor’s direction, the MTA will prioritize stations with higher ridership traffic, accessibility features and those with high fare evasion. The piloted design used in the roll-out was solicited through the MTA’s “Request for Information” to qualify the next generation of fare gates across the system. Initial installation is scheduled to begin at 42 St-Port Authority, Delancey St-Essex St and Roosevelt Av-Jackson Heights.

    The Governor will also provide funding to install LED lighting in all subway stations throughout the system which will increase visibility throughout the stations.

    Expanding Mental Health Partnerships and Resources

    Governor Hochul’s SOS initiative has successfully transitioned nearly 850 unhoused individuals into permanent housing and continues to make progress. SOS teams deployed across New York State often encounter individuals experiencing unmet medical and psychiatric needs. To address this gap, Governor Hochul is adding street medicine and street psychiatry providers to SOS teams statewide. These providers deliver timely care directly to individuals during outreach, improving access to psychiatric evaluations and medical treatment without requiring individuals to leave their belongings or seek care in hospitals. This approach is enhancing trust, building rapport and encouraging individuals to accept services and transition indoors, improving outcomes for New York’s most vulnerable residents.

    Additionally — to further help reduce homelessness in the subway system — Governor Hochul is working with the NYC Department of Homeless Services to expand their 24/7 “Welcome Center” model near end-of-line stations and will create spaces within stations that have a large presence of unhoused people for our mobile outreach teams to better connect and coordinate services.

    Governor Hochul previously announced a $20 million investment to expand the SCOUT Teams throughout the system to ten by the end of 2025, as a part of her five-point plan to protect New Yorkers on the subway. SCOUT teams are trained to address the most severe cases of mental health crisis within the subway system and assist New Yorkers in gaining access to mental health treatment and supportive housing.

    The Governor has made strengthening New York State’s mental health system a priority of her administration, landing historic investments in housing for people with mental illness and directing a large increase in inpatient psychiatric bed capacity at state-operated and community-based hospital systems. In addition, her initiatives have broadened prevention services, improved insurance coverage and expanded outpatient services for people with mental illness.

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI: CareCloud Announces Conversion of Series A Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., March 06, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare information technology and generative AI solutions for medical practices and health systems nationwide, announced today (the “Mandatory Exchange Date”) that it effected the mandatory conversion (the “Conversion”) of shares of its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Preferred Stock”), into the Company’s Common Stock, $0.001 par value per share (the “Common Stock”).

    “We are excited to announce this conversion, which will eliminate approximately $7 million or more in annual dividend obligations, freeing us to reinvest this capital in our growth,” said Norman Roth, Interim Chief Financial Officer and Corporate Controller of CareCloud. “Further, this conversion will provide us with a cleaner capital structure and good flexibility from which to continue creating value for our shareholders.”

    The Company’s Board of Directors elected to exercise its conversion rights, which provide for the conversion of each share of Preferred Stock into 7.3358 shares of Common Stock, inclusive of all accumulated and unpaid dividends. Any fractional shares of Common Stock which would otherwise be issuable will be rounded up to the next whole share of Common Stock. Dividends on converted shares will cease to accrue on the Mandatory Exchange Date.

    The Conversion will be effective at 4:01 p.m. Eastern Time on March 6, 2025. Individual shareholders who, as of the Mandatory Exchange Date, owned at least 100,000 shares of Preferred Stock will not have their shares of Series A Preferred Stock automatically converted to Common Stock so long as they were held by the Company’s transfer agent, and presently retain the limited right to object to the Conversion.

    Additional information regarding the Conversion can be found in the Amended and Restated Certificate of Designations, Preferences, and Rights of the 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, which is available on the website of the Securities and Exchange Commission.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Disclaimer

    This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:

    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com 

    The MIL Network –

    March 7, 2025
  • MIL-OSI Global: As tuberculosis cases rise in the US and worldwide, health officials puzzle over the resurgence of a disease once in decline

    Source: The Conversation – USA – By Karen Dobos, Professor of Microbiology, Colorado State University

    A microscopic view of _Mycobacterium tuberculosis_, the bacteria that causes tuberculosis. koto_feja/E+ via Getty Images

    An outbreak of tuberculosis, or TB – a lung disease that is often accompanied by a hacking cough – began in January 2024 in Kansas City, Kansas, and two nearby counties and continues as of early March 2025. To date, 147 people have been reportedly diagnosed with TB in the outbreak, with 67 becoming ill. The remaining 80 people diagnosed with TB in Kansas contracted the illness but showed no symptoms, which is called a latent infection.

    TB is the leading infectious cause of death around the world, outpaced only by COVID-19 during the first three years of the pandemic.

    The Conversation asked microbiologists Karen Dobos and Marcela Henao-Tamayo, both from Colorado State University, to explain why this ancient disease seems to be making a comeback.

    What’s the history of TB?

    Mycobacterium tuberculosis is the organism that causes the disease tuberculosis in humans. The disease has been infecting humans for thousands of years. Researchers found evidence of the disease 9,000 years ago in the excavated remains of people who lived in the Eastern Mediterranean region during that time.

    Reports of TB date back to around 410-400 B.C.E., when the physician Hippocrates termed the disease phthisis, an archaic word that means a progressive “wasting away,” due to the way people with the disease become emaciated.

    TB was also known as consumption for the same reason. Similarly, it was called the white plague or white death – due to anemia from the disease, with people appearing pallid or chalky – leading to near-certain death. Untreated active TB, meaning cases that are symptomatic, is highly lethal.

    About half of all people with untreated active TB die from the disease, whereas treatment reduces the death rate to 12%.

    One of the more colorful phrases describing TB is “the king’s evil.” This is a form of TB that also causes neck swelling and lesions, a condition called scrofula. During the Middle Ages, people believed that the touch of a king could cure a person from this form of TB through miraculous intervention.

    TB infections, which are typically found in the lungs, have risen since the COVID-19 pandemic.
    Kateryna Kon/Science Photo Library via Getty Images

    Finally, TB was most ominously called the “robber of youth” due to its historical propensity to afflict people 15 to 30 years old.

    In 1865, Jean Antoine Villemin, an army physician in Paris, demonstrated that TB could be transmitted from infected animals to healthy ones through inoculation. Before these studies, the cause of TB was presumed to be primarily constitutional, by either an inherent predisposition or from unhealthy or immoral lifestyles.

    The microorganism causing TB was ultimately discovered in 1882 by the German physician Robert Koch. Koch announced his findings on March 24, 1882, a day globally recognized as World TB Day.

    How does TB spread?

    Tuberculosis is spread by small infectious droplets in the air. A TB patient may emit these droplets by coughing, singing and potentially from regular breathing that occurs during sleep or resting.

    One form of TB can be spread through unpasteurized dairy products. While rare, there have been reports of TB transmission through bone graphs, in which healthy, donated bone material is used to replace damaged bones.

    Close-up view of an infection by Mycobacterium tuberculosis.
    Kateryna Kon/Science Photo Library via Getty Images

    The origin of the TB outbreak in Kansas remains unknown as of early March 2025. The outbreak has disproportionately affected those in low-income communities, and two people have died from it.

    Importantly, a patient with untreated TB can infect 10 to 15 others.

    Could the COVID-19 pandemic be a factor?

    The COVID-19 pandemic has played a pivotal role in the resurgence of TB. Cases increased globally by 4.6% from 2020 to 2023, reversing decades of steady declines in the disease. In the U.S. alone, TB cases rose by more than 15% from 2022 to 2023.

    During mandatory shutdowns, people were less able to access health care centers for early diagnosis of TB or to fill prescriptions for treatment, perhaps due to the fear of contracting COVID-19 while visiting a medical care facility. COVID-19-related disruptions in care resulted in nearly 700,000 excess deaths from TB.

    Access to health care may not be the only factor behind this uptick. Medical supply shortages and delays in shipment may have also played a role. For example, the U.S. experienced shortages of one of the primary TB drugs between 2021 and 2023.

    As illustrated by this 1963 photo, TB is often detected by an X-ray of the chest.
    Smith Collection/Gado/Archive Photos via Getty Images

    What are the main treatments?

    Multidrug treatment is currently the only way to cure TB and stop its spread.

    Prior to the late 1930s, when the first antibiotic for TB treatment was developed, TB treatments included bloodletting and consumption of cod liver oil. The most popular treatment involved isolated sanatoriums in high-altitude areas such as the Adirondacks and the Rocky Mountains, where the cold, dry air was believed to be a cure. Scholars at the time suggested that the potential for cure was due to these environments being more invigorating for the body and providing more restful sleep. There is no evidence to support these beliefs.

    Streptomycin was the first antibiotic treatment to become available for TB, in the 1940s. However, the microorganism quickly became drug resistant. A second antibiotic, called isoniazid, was developed as a first-line treatment against TB in the 1950s. Again, the microorganism became drug resistant.

    Two- and four-drug combinations are now used to treat both latent infections and active disease. Treatment of active TB requires at least six months of uninterrupted therapy. Disruptions in treatment result in further spread of TB and the emergence of multidrug resistant TB, which requires additional drugs and more than nine months of treatment.

    All TB drugs are toxic; the quality of life for TB patients deteriorates during treatment and remains so throughout their lives. Finding cases and treating TB illness early, before symptoms begin, is important because it not only reduces the spread of disease but also greatly reduces drug toxicity.

    What should people be aware of?

    People should be aware that TB is still a public health problem across the globe. Education on the transmission, treatment and need for active work to eradicate TB is the best defense.

    One of the reasons why education and awareness about TB are so important is that a person with latent TB may be unknowingly harboring the microorganism for years. In the absence of symptoms, these people are unlikely to seek care and will not be diagnosed and treated unless identified as part of an outbreak, as was the case for more than half of the patients in Kansas.

    Karen Dobos receives funding from NIAID, NIH and the Bill and Melinda Gates Foundation.

    Marcela Henao-Tamayo receives funding from NIAID, NIH and OEDIT.

    – ref. As tuberculosis cases rise in the US and worldwide, health officials puzzle over the resurgence of a disease once in decline – https://theconversation.com/as-tuberculosis-cases-rise-in-the-us-and-worldwide-health-officials-puzzle-over-the-resurgence-of-a-disease-once-in-decline-249450

    MIL OSI – Global Reports –

    March 7, 2025
  • MIL-OSI: Biz2Credit’s Women-Owned Business Study Reports Women Are Closing The Funding Gap

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 06, 2025 (GLOBE NEWSWIRE) — In its annual analysis of over 53,000 companies, the Biz2Credit Women-Owned Business Study found that the funding percentage (36%) for women-owned businesses that applied for financing in 2024 increased from 35% in 2023. In comparison, the funding rate for male-owned businesses in 2024 was just 29%.

    Additionally, that the average funding amounts women received jumped by 25% from 2023 to 2024. In 2023, the average funding amount for women-owned businesses was $53,678. A year later, in 2024, the average amount was $67,035.

    Further analysis showed that the average annual revenue of women-owned firms in 2024 increased 15% to nearly $520,000, although expenses rose as well.

    The Biz2Credit Women-Owned Business Study examined financial indicators including annual revenue, operating expenses, earnings, age of business, credit scores, funding rates, and funding amounts of companies that applied for credit on Biz2Credit’s online platform in 2024.

    “The funding rate and average loan amount for women-owned businesses rose in 2024, which is good news,” said Rohit Arora, CEO and co-founder of Biz2Credit and one of the nation’s leading experts in small business finance. “The percentage of funding applications from women was 36%, compared to 29% for men last year. Women-owned businesses have also shortened the gap in average funding size to just 20% less than men-owned businesses, a significant improvement compared to last year’s difference of 40%.”

    “All is not rosy, however,” Arora added. “Women business owners, along with their male counterparts, saw expenses rise significantly largely because of inflation in 2024. SMBs are hoping that costs will come down, although it has not happened yet.”

    Key Findings:

    • The Funding Rate for women-owned businesses rose from 35% in 2023 to 36% in 2024. In contrast to their male counterparts, the funding rate for men-owned firms was 29% in 2024.
    • The Average Funding Size for women-owned businesses was $67,035 in 2024, a 25% increase from $53,678 in 2023. In comparison, men-owned businesses saw an increase of 7% in average loan sizes, up from $75,045 in 2023 to $80,140 in 2024.
    • The Average Age of Business (in months) for women-owned businesses increased 10 months YoY, from 62 in 2023 to 72 months (6 years) in 2024, but remains 14 months lower than men-owned businesses, up from 72 in 2023 to 86 (slightly more than 7 years) in 2024.
    • The Average Credit Score for women business owners increased by 10 points, from 643 in 2023 to 653 in 2024. Credit scores for male business owners also increased 10 points, from 660 in 2023 to 670 in 2024.
    • Financing Applications by State: California had the highest percentage (12.8%) of funding applications of women-owned businesses, followed by the 2023 leader, Florida (12.5%) and Texas (10%).
    • Financing Applications by Industry: Services (except Public Administration) was the largest industry represented by women-owned companies (14.9%) in the Biz2Credit study, followed by Healthcare and Social Assistance (14.5%), Retail Trade (13.5%) Accommodation and Food Services (12.1%), and Professional, Scientific, and Technical Service (9.5%).
    • Average Annual Revenue for women-owned businesses increased 15%, from $451,443 in 2023 to $519,886 in 2024, while male-owned businesses rose 8%, from $688,611 in 2023 to $743,643 in 2024. The revenue gap between women-owned and men-owned businesses was $223,757 in 2024.
    • Average Operating Expenses of women-owned businesses increased 38%, from $363,909 in 2023 to $503,8426 in 2024. Men-owned business also saw a 31% increase in average operating expenses.

    Comparing Women-Owned and Men-Owned Businesses: A Year-over-Year Analysis

      2023 2024
    Categories Women Men Women Men
    Average Revenue $451,443 $688,611 $519,886 $743,643
    Average Operating Expenses $363,909 $541,602 $503,426 $711,670
    Average Age of Business (months) 62 72 72 86
    Average Credit Score* 643 660 653 670
    Average Funding Size $53,678 $75,045 $67,035 $80,140
    Funding Rate 35 30 36 29


    Comparison of Women-Owned and Men-Owned Businesses Year-over-Year (YoY)

    Categories Women
    YoY Difference
    Men
    YoY Difference
    Average Revenue +15% +8%
    Average Operating Expenses +38% +31%
    Average Age of Business (months) +10 +14  
    Average Credit Score* (points) +10 +10
    Average Funding Size +25% +7%
    Funding Rate +3% -3%

    *Average credit score is derived from the personal FICO credit scores of business owners.

    Top 5 Financing Applications by State in 2024 for Women-Owned Businesses

    States Women
    California 12.8%
    Florida 12.5%
    Texas 10%
    Georgia 6.6%
    New York 5.1%


    Top 5 Financing Applications by Industry in 2024 for Women-Owned Businesses

    Industries Women
    Other Services (except Public Administration) 14.9%
    Health Care and Social Assistance 14.5%
    Retail Trade 13.5%
    Accommodation and Food Services 12.1%
    Professional, Scientific, and Technical Services 9.5%


    Importance of Women-Owned Businesses

    During 2024, women-owned businesses had an estimated $2.1 trillion in receipts, 11.4 million employees, and $508.5 billion in annual payroll, as reported by Census Bureau (Nov. 2024).

    According to the National Women’s Business Council (NWBC) Annual Report, there are 14.5 million women-owned businesses that account for 39.2% of all businesses in the U.S. This number is a 11.5% increase from 2019 to 2024 and demonstrates that women-owned firms emerged stronger from the COVID pandemic than they did from the 2008 financial crisis.

    Methodology

    The dataset for Biz2Credit’s Women-Owned Business Study comprises over 53,000 completed commercial funding applications received via the Biz2Credit platform in 2024. The four most important variables in the analysis were: annual revenue, operating expenses, age of business, and personal credit score. The data was then tabulated to examine women-owned and men-owned businesses based on annual revenue, operating expenses, age of business, personal credit score, funding rate, and average loan size. The study looked at 20 different industries, as well as geography.

    About Biz2Credit

    Founded in 2007, Biz2Credit has helped thousands of companies access more than $10 billion in small business financing. The company is expanding its industry-leading Biz2X technology in custom digital platform solutions for banks and other financial institutions, investors, and service providers. Visit www.biz2credit.com, LinkedIn, Instagram, Facebook, and X (formerly Twitter).

    Media Contact: John Mooney, (908) 720-6057, john@overthemoonpr.com

    The MIL Network –

    March 7, 2025
  • MIL-OSI United Kingdom: Managing woodlands with community groups in the National Forest

    Source: United Kingdom – Executive Government & Departments

    Case study

    Managing woodlands with community groups in the National Forest

    Read how the National Forest’s community groups support sustainable woodland management, improve health and wellbeing, enhance woodland access, and support wildlife.

    National Forest facts:

    • established in the 1990s: the first broadleaf forest to be created at scale in England for more than 900 years 
    • spans 200 square miles of the Midlands (Leicestershire, Derbyshire, and Staffordshire) 
    • overseen by the National Forest Company (NFC), with a mission to increase forest cover from 6% in the early 1990s to 33%; 25% cover has been achieved to date 
    • mainly rural and peri-urban native broadleaf woodlands 
    • woodlands are planted on both private and public land 
    • most community woods are managed for recreation and wildlife rather than timber production 
    • aims for 80% of the woodlands to have some level of public access, for walking and, in some cases, cycling and horse riding

    Community groups play a vital role in maintaining woods. By engaging local residents, these groups contribute to the sustainable management of woodlands through activities including:  

    • tree thinning 
    • habitat management and creation 
    • wildlife surveys 
    • litter picking 
    • organising local events 
    • helping to maintain newly planted trees 
    • leading guided walks  

    Thousands of people are already involved, volunteering through 70 community woods groups and conservation organisations. In 2021, these groups were brought together in an informal Community Woods network.

    Zoe Sewter, NFC Volunteer and Wellbeing Officer said:

    We have found that the range of works volunteers can undertake is limited only by skills, time and available resources. Given sufficient training, access to funding and a pool of able and motivated volunteers, the sky is the limit.

    Two community woods volunteers carrying out woodland thinning operations. Copyright Darren Cresswell Photography.

    Growing urban woodlands 

    In the National Forest, urban woodlands are typically on reclaimed land or within housing developments. It’s normally these types of woodlands that are community-managed, close to homes, often planted in the last 30 years and publicly owned. As part of a recent National Lottery Heritage Fund funded project, 9 new sites have been planted and 3 older woods brought under community management. 

    Public rights of way and permissive routes connect communities to the woods and link to nearby footpath networks. In urban woodlands, paths are mostly surfaced enabling year-round access. In the rural and peri-urban sites the paths are usually grassed rides, meaning that maintaining the paths and woodland can be tricky in wet winters.

    Pupils from Fairmeadow Primary School helping to create Oversetts community wood, a new woodland on the outskirts of Swadlincote. Copyright NFC.

    Funding and income 

    The NFC has secured external grants over the past 6 years to support its Community Woods programme, covering staff salaries, setup costs, land purchases, capital purchases, community engagement and volunteer training. Outside the National Forest, local councils, parish councils, or voluntary sector organisations may be able to provide seed funding for similar projects.  

    To ensure financial sustainability, community groups have also generated income through various methods, including: 

    • selling community shares 
    • charging annual membership fees 
    • paid events (such as wreath making and guided walks) 
    • renting space/facilities 
    • plant sales and charity events 
    • selling products (such as charcoal and wooden ornaments) 
    • obtaining grants for woodland management and tool purchases 

    Groups like the Heartwood Community Woodland Group have introduced schemes such as ‘logs for labour’, where volunteers can exchange work (helping to fell some trees in thinning operations) for wood fuel or green crafts.

    Heartwood volunteer starting the retort to make charcoal in the woods. Copyright Rod Kirkpatrick.

    Benefits for woodlands and people 

    The involvement of community groups has brought a wide range of benefits, including: 

    • for the woodlands: positive management improves biodiversity and habitat condition, as well as enhancing amenity value
    • for the owners: support with their woodland management; landowners gain committed volunteers who help maintain paths, monitor wildlife, and tackle conservation tasks
    • for the volunteers and local community: volunteering has health and wellbeing benefits and provides a closer connection to nature. Local people feel a stronger sense of connection to the woodlands as they develop, helping reduce anti-social issues like littering and vandalism
    • for visitors: improved quality of access to the woodlands and richer biodiversity to enjoy

    Zoe Sewter, NFC Volunteer and Wellbeing Officer said:

    It also means more eyes are looking at the wood and checking that everything is OK. Volunteers can report issues, flag safety concerns and keep pathways clear. Of increasing importance, regular visits in different seasons can spot signs of pests and disease early, and get reported to the landowner so mitigating action can take place as required.

    Creating a network 

    Before the introduction of the Community Woods programme, volunteer groups within the National Forest largely worked in isolation, each managing their own woodland without broader connections.

    The creation of the Community Woods network has been a transformative initiative, nurturing collaboration and knowledge exchange among these groups. By connecting volunteers, the network provides a platform for sharing experiences, skills, and resources, creating a vibrant community of practice. This peer-to-peer support has been particularly valuable for new groups, who can now learn from the successes and challenges faced by more experienced counterparts. 

    Overcoming challenges 

    Many groups face difficulties with volunteer recruitment, particularly in attracting younger members, but offering varied tasks and flexible schedules can help engage a broader range of people.  

    The departure of important volunteers can lead to a loss of momentum; however, building strong committees and sharing responsibilities can help maintain energy and focus over time. 

    A standout achievement of the Community Woods project has been the tailored training programme. Designed in consultation with the community groups themselves, the programme addresses their specific needs and has been funded through various grants. Training topics have included: 

    • leadership and organisation: leadership sessions for volunteer task days, to enhance confidence and team coordination
    • practical skills: coppicing, small tree felling, pond management, and hedge-laying
    • accredited certifications: emergency First Aid and Forestry, brush-cutter and chainsaw use, and tree inspections

    The programme has received strong engagement and overwhelmingly positive feedback, significantly enhancing the skills and confidence of volunteers across the network. As a result, groups are now better equipped to manage their woodlands effectively, ensuring sustainable conservation practices and fostering stronger community ties. This combined approach of networking and training has proven instrumental in building a resilient, interconnected community of woodland volunteers, capable of sustaining long-term benefits for both people and nature. 

    Volunteers network at the inaugural Community Woods Network gathering at Timber Festival, 2021. Copyright NFC.

    Zoe Sewter, NFC Volunteer and Wellbeing Officer said:

    It’s not just about the trees. Community woodland groups are made up of people with diverse motivations to give their time – passionate individuals committed to making a difference, as well as those seeking solace in nature, such as those dealing with bereavement, health challenges, or life changes. Understanding these personal stories and motivations is vital for creating a supportive and successful volunteer environment.

    Top tips for working with community groups 

    For anyone considering partnering with community groups in their woodland management, here are some top tips: 

    • establish trust and clear communication: building mutual trust between volunteers and landowners is essential; set expectations early and ensure open, ongoing communication
    • set realistic work expectations: ensure that the group has the necessary tools and support to complete tasks, for example, if the use of power tools is not permitted, avoid assigning overly large tasks that could lead to frustration
    • involve the group in management planning: having volunteers contribute to the woodland management plan ensures that potential issues are addressed early and everyone is aligned
    • enter into a formal agreement: use contracts, licences, or leases with clear terms (ideally 5+ years) to outline expectations and responsibilities. Include break clauses to allow for flexibility if circumstances change
    • plan for changes: if the relationship needs to end, ensure there’s an exit strategy in place, with plenty of notice to avoid frustration or feelings of wasted effort
    • build in flexibility: site constraints, such as wildlife designations or securing capital funding, can be challenging. A clear plan of action and thorough research before starting can help, but other problems such as bad weather can be unavoidable. Build flexibility into timescales and have contingency plans

    Zoe Sewter, NFC Volunteer and Wellbeing Officer said:

    Also, be prepared for the unexpected! The Covid pandemic disrupted plans and presented unforeseen challenges for many groups within the Community Woods network. But with resilience and flexibility, these obstacles can be overcome.

    Learn more about the National Forest

    For more information on the National Forest and how you can get involved, visit National Forest.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

    March 7, 2025
  • MIL-OSI USA: What is a NASA Spinoff? We Asked a NASA Expert: Episode 53

    Source: NASA

    [embedded content]

    What is a NASA Spinoff?
    Well, to answer that question, we’re going to have to go all the way back to 1958, back to the legislation that originally created the space agency, NASA.
    So in that legislation, there’s some forward-looking language that says, “Make sure that all the cool stuff you develop for space doesn’t just get blasted off into the universe, but comes back down to the Earth in the form of practical and terrestrial benefits.”
    I’m paraphrasing, of course. The legislation is actually a little bit dry like legislation should be. Since that time, NASA has worked to get the technologies it created into the hands of the public. These become products and services and they save lives, they improve lives, they generate income, they create jobs, they boost the economy, they increase crop yields, they make airplane travel safer, they make train transportation safer.
    NASA’s everywhere you look. One example I like to bring up is the camera in your cell phone. That was actually developed at JPL. We were working on a lightweight, high resolution camera for a satellite application, and that became the very first camera on a chip, camera in the cell phone.
    We’ve also worked on things like indoor agriculture, which is increasingly important as the world gets denser and people need access to healthy foods.
    During the pandemic, some researchers developed a ventilator that had fewer than 100 parts, none of which were required in the supply chain to make other ventilators. We gave that to dozens of companies all around the world to help save lives.
    If you check out spinoff.nasa.gov you can find thousands of examples of how NASA is everywhere in your life.
    [END VIDEO TRANSCRIPT]
    Full Episode List
    Full YouTube Playlist

    MIL OSI USA News –

    March 7, 2025
  • MIL-OSI: EBC Financial Group Launches Second Million Dollar Trading Challenge with USD $1 Million Prize

    Source: GlobeNewswire (MIL-OSI)

    LONDON, March 06, 2025 (GLOBE NEWSWIRE) —  EBC Financial Group (EBC), a global leader in financial brokerage, announces the return of its flagship Million Dollar Trading Challenge (MDTC) for its second edition, one of the world’s largest and a global benchmark for skill-based trading competitions, as industry demand for structured, transparent trading opportunities continues to grow.

    The 2025 edition of MDTC comes at a time when traders are seeking greater accountability and access to proven strategies amid increasingly volatile markets. From 1 March to 30 May 2025, thousands of traders worldwide will compete for a $1 million trading account in a challenge that integrates real-time strategy sharing and zero-fee copy trading, setting a new standard for competitive trading.

    For the first time, top traders will be invited to an exclusive awards ceremony at the FC Barcelona Museum (Barça Immersive Tour), marking a historic moment as a global trading event is recognised within one of football’s most prestigious institutions. The partnership reflects a growing convergence between financial markets and elite sports, reinforcing trading as a profession that demands the same level of skill, precision, and discipline as world-class athletics.

    The inaugural MDTC in 2023 set multiple industry benchmarks, with 324 traders achieving profitable accounts and the top 10 traders recording an average return of 3,472.91%. The champion delivered an extraordinary 11,630.98% return in just 30 days, demonstrating the potential of skill-driven trading in a competitive environment.

    This year, MDTC II takes it further—allowing traders to access professional-grade trading signals and instantly replicate top-performing strategies for free via copy trading. By combining competition with real-time strategy sharing and zero-fee copy trading, EBC is setting a new standard for transparency and accessibility in trading.

    Real-Time Copy Trading: Automatically Replicate Top Traders’ Strategies
    The rise of retail trading has transformed financial markets, yet many traders struggle to access transparent, structured learning environments that allow them to develop real skills. MDTC II is designed to bridge this gap—giving traders a unique opportunity to refine their strategies by actively engaging with top-performing traders through real-time copy trading.

    Unlike traditional contests that reward high-risk speculation, MDTC II introduces an open, strategy-sharing ecosystem where traders can analyse, track, and instantly replicate the trades of leading participants at no cost. This levels the playing field, allowing both novice and experienced traders to benefit from collective insights while maintaining individual control over their trades.

    “When you’re a growing company, you aim to create an event that truly reflects your values and passion—MDTC is ours. We are here to be a light in the industry, proving that traders can succeed; traders can be successful at trading, it requires education and grit, and it’s not just for the 1%. That’s the real beauty of MDTC—every participant must show their trading history, show the world what they are doing. Anyone can log in and take a look, and you can see for yourself what the winners are trading.

    “At EBC, we don’t measure this (or any activity) by the number of signups or deposits we get—we measure it by the conversations we create. With this second iteration, we’re introducing more trading tools and enhanced features, another key aspect we’re all really proud of, because at EBC, ‘perfect’ is never enough,” said Samuel Hertz, Director of Operations at EBC Financial Group.

    $1 Million Prize and A Once-in-a-Lifetime FC Barcelona VIP Experience
    At the heart of MDTC II is one of the industry’s largest prizes—a $1 million trading account—designed to reward skill, discipline, and strategy execution. Rather than a one-time cash payout, the grand prize provides a unique opportunity for the winner to manage significant capital while retaining 100% of their profits, with a maximum allowable loss of $200,000. Alternatively, the winner can choose a $200,000 cash prize.

    MDTC II is structured into two categories to ensure accessibility and fair competition. The Rising Stars category is open to traders with a minimum balance of $500, ranked by profit rate, providing an opportunity for those looking to refine their skills in a structured environment.

    For more experienced traders, the Dream Squad category is designed for participants with balances between $10,000 and $200,000, ranked by net profit. This category recognises traders who can navigate market conditions effectively while managing larger capital.

    Beyond financial rewards, top traders will gain industry recognition and a once-in-a-lifetime experience at the FC Barcelona Museum. In an exclusive awards ceremony, winners will be celebrated at the home of one of the world’s greatest multi-sports clubs—bridging the gap between trading and elite performance in professional sports.

    “For EBC Financial Group, the Million Dollar Trading Challenge is a fantastic way for new and seasoned traders to be involved in a real-time event. It allows clients to see traders of all levels to engage with live market conditions, see real-time the trades executed by all entrants, and gives emerging traders the change to follow and learn from those with more experience, in a way that suits their trading style.

    “This opportunity to watch, learn, and develop in a fully transparent environment is invaluable, and an excellent way to encourage new traders to understand what strategy works, when, and why. The trades that do not work are as much as lesson as those that do,” said David Barrett, CEO of EBC Financial Group (UK) Ltd.

    Maximising Opportunities through Community Management and Cutting-Edge Trading Platforms
    To further encourage community participation, MDTC II introduces an enhanced Referral Program, offering participants up to $300 per successful referral, with no cap on the number of referrals. This initiative encourages greater community participation, allowing traders to expand their network while benefiting from the competition.

    With a focus on driving innovation in the financial markets, MDTC II expands trading opportunities by integrating Contracts for Difference (CFDs) on US stocks into the competition for the first time. US stocks account for over 65% of global market capitalisation, making them among the most liquid and dynamic assets across industries. This addition allows participants to access some of the world’s most influential companies, providing new opportunities to navigate volatile and fast-moving markets.

    The competition takes place on industry-leading MT4 and MT5 platforms, enabling participants to trade Forex, Commodities, Indices, and US Stock CFDs with advanced charting tools, automated strategies, and real-time execution. By combining diverse asset classes, cutting-edge technology, and expanded market access, MDTC II continues to redefine the landscape of competitive trading.

    Refining the Contest Experience: MDTC 2023’s Legacy
    The first Million Dollar Trading Challenge in 2023 saw strong participation, with traders executing 431,827 trades and generating a total profit of $1,096,718.57. The event highlighted the growing interest in structured trading competitions and the role of copy trading in improving accessibility for traders at different experience levels.

    Community engagement was a key aspect of the challenge, with many participants leveraging copy trading features to track and replicate successful strategies. The results underscored the potential for shared market insights to shape trading outcomes.

    With MDTC II, the competition continues to evolve, incorporating past insights while maintaining a focus on transparency, strategy development, and trader engagement.

    For more information and to be part of the journey that reshapes what’s possible in financial markets, visit https://www.ebc.com/million-dollar-challenge-2.

    About EBC Financial Group
    Founded in London’s esteemed financial district, EBC Financial Group (EBC) is renowned for its expertise in financial brokerage and asset management. With offices in key financial hubs—including London, Sydney, Hong Kong, Singapore, the Cayman Islands, Bangkok, Limassol, and emerging markets in Latin America, Asia, and Africa—EBC enables retail, professional, and institutional investors to access a wide range of global markets and trading opportunities, including currencies, commodities, shares, and indices.

    Recognised with multiple awards, EBC is committed to upholding ethical standards and these subsidiaries are licensed and regulated within their respective jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA); EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA); EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC).

    At the core of EBC are a team of industry veterans with over 40 years of experience in major financial institutions. Having navigated key economic cycles from the Plaza Accord and 2015 Swiss franc crisis to the market upheavals of the COVID-19 pandemic. We foster a culture where integrity, respect, and client asset security are paramount, ensuring that every investor relationship is handled with the utmost seriousness it deserves.

    As the Official Foreign Exchange Partner of FC Barcelona, EBC provides specialised services across Asia, LATAM, the Middle East, Africa, and Oceania. Through its partnership with the UN Foundation and the world’s largest grassroots campaign, United to Beat Malaria, the company contributes to global health initiatives. EBC also supports the ‘What Economists Really Do‘ public engagement series by Oxford University’s Department of Economics, helping to demystify economics and its application to major societal challenges, fostering greater public understanding and dialogue.

    https://www.ebc.com/

    Media Contact:
    Savitha Ravindran
    Global Public Relations Manager (EMEA, LATAM)
    savitha.ravindran@ebc.com   

    Chyna Elvina
    Global Public Relations Manager (APAC, LATAM)
    chyna.elvina@ebc.com

    Douglas Chew
    Global Public Relations Lead
    douglas.chew@ebc.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/90e3f81c-a0fc-4bd3-9cd4-155c6a5a0fcf

    https://www.globenewswire.com/NewsRoom/AttachmentNg/67625ee9-b2fb-48a5-aed2-c12b1830acae

    https://www.globenewswire.com/NewsRoom/AttachmentNg/34b28968-b7b2-4340-b114-57bcd09b90ac

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b1dfd2dc-eb46-44e4-a2e1-cf90e948c91a

    The MIL Network –

    March 6, 2025
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