NewzIntel.com

Category: Politics

  • MIL-OSI China: White paper highlights historic human rights progress in Xizang

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

    LHASA, March 28 — All-round and historic progress has been made in the human rights cause in China’s Xizang Autonomous Region, according to a white paper released on Friday.

    The document, titled “Human Rights in Xizang in the New Era,” was released by the State Council Information Office at a press conference held in Lhasa, capital city of the region.

    The Communist Party of China (CPC) and the Chinese government have implemented effective measures to develop the economy, improve living standards and people’s well-being, promote ethnic unity and progress, and protect the basic rights of all the people in the region, it said.

    The year 2025 marks the 60th founding anniversary of Xizang Autonomous Region. Reflecting on the development of human rights in the region over the past six decades, especially since the 18th CPC National Congress in 2012, Gama Cedain, chairman of the regional government, said on Friday that the Party’s leadership has provided a fundamental guarantee for lasting stability and high-quality development in the region.

    He noted at the press conference that people of all ethnic groups in Xizang have made historic achievements in their rights to subsistence and development.

    The white paper expounded in detail on remarkable human rights progress in Xizang in fields such as whole-process people’s democracy, the protection of economic and social rights, cultural rights and environmental rights, effective safeguards for the freedom of religious belief, equal protection of the rights of specific groups, and steady improvement in the legal protection of human rights.

    The document showed that by the end of 2019, all 628,000 registered impoverished people in the region had been lifted out of poverty, and in 2024, the per capita net income of those lifted out of poverty in Xizang increased by over 12.5 percent.

    The region’s road length had nearly doubled in 12 years and every town or township is covered by the 5G wireless network, with 2.14 million 5G mobile phone users, or 60.5 percent of the total in the region. The average life expectancy in Xizang rose from 68.17 years in 2010 to 72.19 years in 2020, according to the document.

    Respecting and protecting human rights has been made an important part of the Party Central Committee’s guidelines for the governance of the region, it said.

    The CPC has maintained a people-centered approach to human rights and a commitment to ensuring human rights through development, and has vigorously promoted whole-process people’s democracy, it said.

    The Party has strengthened legal protection of human rights, and coordinated efforts to increase people’s civil and political rights as well as economic, social and cultural rights, to achieve well-rounded development and common prosperity for all people from all ethnic groups, according to the white paper.

    Today, Xizang enjoys political stability, ethnic unity, economic development, social harmony, and amity among different religions, the document said.

    Its environment is sound, and local people are content with their work and daily lives. This progress represents a remarkable achievement in protecting human rights on the snowy plateau, it said.

    The white paper pointed out that over the years, lies about the “worsening human rights situation” in Xizang were spread outside China with ulterior political motives and the goal to destabilize Xizang and separate it from China.

    The human rights progress in Xizang will not be undermined or wiped out by lies, nor will the advancements being made in the new era by the people of all ethnic groups in the region be halted by deceit, it said.

    MIL OSI China News –

  • MIL-OSI USA: Senator Rosen Denounces Trump’s Appointment of Sigal Chattah as Interim U.S. Attorney for the District of Nevada

    US Senate News:

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

    WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) issued the following statement in response to President Donald Trump naming Sigal Chattah as the interim U.S. Attorney for the District of Nevada:
    “Nevada needs a U.S. Attorney who will uphold and enforce the law fairly and equally. Sigal Chattah is an extremist who is deeply unfit for this role,” said Senator Rosen. “Chattah’s disturbing past statements promising to use any public office to go after her political opponents, as well as her well-documented history of racist remarks, conspiracy theories, and threats of violence, prove that she cannot be trusted with this important responsibility. If she’s ever nominated to a permanent Senate-confirmed position, I’ll do everything in my power to block her confirmation.”

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Oklahoma Businesses, Nonprofits and Residents Affected by November Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to Oklahoma businesses, nonprofits and residents affected by the severe storms, straight-line winds, tornadoes and flooding occurring Nov. 2‑3, 2024. The SBA issued an administrative disaster declaration on March 27, 2025.

    The disaster declaration covers the counties of Canadian, Cleveland, Kingfisher, Lincoln, Logan, Oklahoma and Pottawatomie.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP) organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Beginning Tuesday, April 1, customer service representatives will be on hand at a Disaster Loan Outreach Center (DLOC) to answer questions about the SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov.

    “When disasters strike, SBA’s Disaster Loan Outreach Centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”

    The DLOC hours of operations are listed below.

    OKLAHOMA COUNTY
    Disaster Loan Outreach Center
    Harrah Church
    101 Dobbs Rd.
    Harrah, OK  73045

    Opens 11 a.m. Tuesday, April 1

    Mondays – Fridays, 9 a.m. – 6 p.m.

    Interest rates are as low as 4% for small businesses, 3.625% for nonprofits and 2.563% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to apply for property damage is May 27. The deadline to apply for economic injury is Dec. 29.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Business Recovery Center in Santa Monica to Relocate

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the relocation of its Santa Monica Business Recovery Center (BRC) from the Santa Monica Chamber of Commerce to the Santa Monica Public Library, beginning Tuesday, April 1, at 10 a.m.

    SBA opened the BRC to provide personalized assistance to Santa Monica businesses affected by the wildfires beginning Jan. 7.

    “SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “Business owners can visit these centers to meet face-to-face with specialists who will guide them through the disaster loan application process and connect them with resources to support their recovery.”

    Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov. The Santa Monica Chamber of Commerce BRC will close Monday, March 31. The Santa Monica Public Library BRC will open Tuesday, April 1, with locations and hours of operation as indicated below.

    LOS ANGELES COUNTY
    Business Recovery Center
    Santa Monica Chamber of Commerce
    2525 Main St., Ste. 103
    Santa Monica, CA  90405

    Closes 5 p.m. Monday, March 31
    Monday, 9 a.m. – 5 p.m.

    LOS ANGELES COUNTY
    Business Recovery Center
    Santa Monica Public Library
    Courtyard Café
    601 Santa Monica Blvd.
    Santa Monica, CA  90401

    Opens 10 a.m. Tuesday, April 1
    Mondays – Wednesdays, 10 a.m. – 6 p.m.

    Businesses and PNPs are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

    Applicants may be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include insulating pipes, walls and attics, weather stripping doors and windows, and installing storm windows to help protect property and occupants from future disasters.

    SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries and private nonprofit (PNP)organizations impacted by financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Interest rates are as low as 4% for small businesses, 3.625% for nonprofits, and 2.563% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    Applicants may call the SBA’s Customer Service Center at (800) 659-2955 or send an email to disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition. Do not wait on the decision for a FEMA grant; apply online and receive additional disaster assistance information at sba.gov/disaster.

    The deadline to return physical damage applications is Mar. 31. The deadline to return economic injury applications is Oct. 8.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI China: Serfs’ Emancipation Day celebrated in China’s Xizang

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

    Serfs’ Emancipation Day celebrated in China’s Xizang

    Updated: March 29, 2025 09:05 Xinhua
    This photo taken on March 28, 2025 shows a view of the square in front of the Potala Palace in Lhasa, capital of southwest China’s Xizang Autonomous Region. Friday marks the 66th anniversary of the democratic reform that ended feudal serfdom in southwest China’s Xizang Autonomous Region, with multiple grand celebrations and commemorative activities held across the region. On March 28, 1959, people in Xizang launched the democratic reform, freeing a million serfs. In 2009, the regional legislature announced March 28 as the day to commemorate the emancipation of the one million serfs. [Photo/Xinhua]
    People dance at a park to celebrate the Serfs’ Emancipation Day in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]
    People dance at a park to celebrate the Serfs’ Emancipation Day in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]
    A flag-raising ceremony is held to celebrate the Serfs’ Emancipation Day at the square in front of the Potala Palace in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]
    People watch a performance at a park to celebrate the Serfs’ Emancipation Day in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]
    A woman dances at a park to celebrate the Serfs’ Emancipation Day in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]
    This photo taken on March 28, 2025 shows the square in front of the Potala Palace in Lhasa, capital of southwest China’s Xizang Autonomous Region. [Photo/Xinhua]
    People dance at a park to celebrate the Serfs’ Emancipation Day in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]
    People attend a flag-raising ceremony to celebrate the Serfs’ Emancipation Day at the square in front of the Potala Palace in Lhasa, capital of southwest China’s Xizang Autonomous Region, March 28, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI USA: Markey, Advocates Slam Trump and DOGE Attempts to Gut Social Security

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Watch: Senator Markey, Advocates Demand: No Cuts to Social Security
    Boston (March 28, 2025) – Senator Edward J. Markey (D-Mass.), top Democrat on the Senate Health, Education, Labor, and Pensions Subcommittee on Primary Health and Retirement Security, held a press conference today to discuss how the Trump administration’s ongoing attempts to gut Social Security impact Massachusetts residents. The press conference comes as the Trump administration, including the so-called Department of Government Efficiency (DOGE), wages an all-out assault on the Social Security Administration (SSA), firing staff, closing SSA field offices, cutting customer experience systems and SSA phone service, and requiring in-person identity checks, among other drastic changes. Senator Markey was joined by Reverend Lorraine Anderson, Betsy Connell of the Massachusetts Councils on Aging, Rosa Bentley of the Massachusetts Senior Action Council, and Camillie Piñeiro and Rich Couture of the American Federation of Government Employees (AFGE).
    “For the millions of seniors that rely almost entirely upon Social Security for their income, a missed check means missed meals, medications, or rent payments,” said Senator Markey. “By cutting staff, closing offices, and requiring people to wait in long lines for an in-person identity check, the Trump administration is forcing Social Security recipients to travel long distances and making it more difficult to receive the funds they are entitled to. We will not let Trump and DOGE pillage Americans’ rightfully earned benefits to pay for a tax break for billionaires without a fight.”
    “My husband and I chose to live among the people we serve and during that time we were trusting the government to hold onto our money,” said Reverend Lorraine Andersen, Massachusetts resident and retired American Baptist Minister from International Community Church in Allston, Massachusetts. “We cannot afford to have our social security checks to be canceled, reduced or even delayed. If we lose those checks, we will have to go back to work in our eighties. I want to thank Senator Markey and others who are fighting to preserve and protect social security.”
    “Today, tomorrow, and every day this year 11,400 people will turn 65, which means that the social security administration needs to be able to have the capacity to serve an additional 4.1 million older adults this year,” said Betsy Connell, Executive Director of Massachusetts Councils on Aging (MCOA). “We are talking about the people that built our homes, our communities, our local businesses, they are our neighbors, our parents, and our grandparents. With so many older adults facing these daily challenges with these hard economic times, rising costs for everything, making it more difficult for them to access their social security benefits is indefensible. Our older adults deserve better.”
    “More than one million people in Massachusetts rely on social security with an average monthly income of $3,000 a month. Payment delays of social security quickly become a crisis of missed rent or no groceries,” said Rosa Bentley, Statewide President for Massachusetts Senior Action Council. “There is no widespread fraud in the social security system. The only fraud I see is from Donald Trump and his friends. We will not accept any cuts to our benefits. We will not accept cuts to social security. Together we demand hands off our social security.”
    “Social Security is under attack by half hazard pointless new policies that produce only chaos and uncertainty. This new policy exposes seniors to greater threats from scammers that take advantage of their confusion. Social security is the line in the sand. Please help us hold the line and protect the benefits we all have paid for, from the first day of our first job,” said Camillie Piñeiro, President of AFGE Local 1164.
    “Social security is a promise our country made to itself to support us at the end of our work lives or when we are unable to work, and that promise is under attack. Folks are waiting a long time to get through and waiting a long time to get any answers because offices are being closed and staff fired,” said Rich Couture, President of AFGE Council 215 and Spokesperson for the AFGE Social Security General Committee. “Every American has paid into this system and are entitled to the benefits promised. These are your benefits. You are entitled to these benefits, and they must be saved.”
    In February, Senator Markey led his colleagues in a letter to Appropriations Committee Chair Susan Collins (R-Maine) and Ranking Member Patty Murray (D-Wash.) urging them to provide no less than $15.402 billion for the Social Security Administration in the Fiscal Year (FY) 2025 Labor-HHS-Education Appropriations bill, allowing for full and timely implementation of the Social Security Fairness Act, while improving customer service. Senator Markey is an original cosponsor of the Social Security Fairness Act, signed into law by President Biden in January 2025. The Social Security Fairness Act repealed the Windfall Elimination Provision and Government Pension Offset, which had reduced benefits for 3.2 million public servants. As a member of the House of Representatives in 1983, Markey was one of a handful of Democrats to vote against the Social Security Reform Act, which created WEP/GPO. Senator Markey is an original cosponsor of the Social Security Expansion Act to protect and expand Social Security benefits.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to New Mexico Small Businesses and Private Nonprofits Affected by November Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in New Mexico who sustained economic losses caused by the drought beginning Nov. 1, 2024.

    The disaster declaration covers the counties of Catron, Cibola, Chaves, De Baca, Doña Ana, Eddy, Grant, Guadalupe, Hidalgo, Lea, Lincoln, Luna, Otero, Roosevelt, Sierra, Socorro and Torrance in New Mexico, as well as Apache, Cochise and Greenlee counties in Arizona, and Andrews, Cochran, Culberson, El Paso, Gaines, Hudspeth, Loving, Reeves, Winkler and Yoakum counties in Texas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Arkansas Small Businesses and Private Nonprofits Affected by Fall Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Arkansas who sustained economic losses due to the drought beginning Nov. 1, 2024.

    The disaster declaration covers the counties of Ashley, Benton, Boone, Bradley, Calhoun, Carroll, Clark, Cleveland, Columbia, Crawford, Dallas, Franklin, Garland, Hempstead, Hot Spring, Howard, Johnson, Lafayette, Little River, Logan, Madison, Marion, Montgomery, Nevada, Newton, Ouachita, Pike, Polk, Pope, Scott, Searcy, Sebastian, Sevier, Union, Washington and Yell in Arkansas, as well as the parishes of Claiborne, Morehouse, Union and Webster in Louisiana; Barry, McDonald, Stone and Taney counties in Missouri, and Adair, Delaware, Le Flore and McCurtain counties in Oklahoma.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Wyoming Small Businesses and Private Nonprofits Affected by January Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Wyoming who sustained economic losses caused by the drought beginning Jan. 1.

    The declaration covers the counties of Albany, Big Horn, Carbon, Converse, Fremont, Hot Springs, Johnson, Laramie, Lincoln, Natrona, Park, Platte, Sheridan, Sublette, Sweetwater, Teton, Uinta and Washakie in Wyoming, as well as Jackson, Larimer, Moffat and Routt counties in Colorado, Bear Lake, Bonneville and Caribou counties in Idaho, Big Horn, Carbon, Gallatin and Park counties in Montana, and Rich County in Utah.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Oklahoma Small Businesses and Private Nonprofits Affected by November Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Oklahoma who sustained economic losses caused by the drought beginning Nov. 15, 2024.

    The disaster declaration covers the counties of Garfield, Grant, Kay, Noble and Osage in Oklahoma, as well as Cowley and Sumner counties in Kansas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Missouri Small Businesses and Private Nonprofits Affected by November Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Missouri who sustained economic losses caused by the drought beginning Nov. 1, 2024.

    The disaster declaration covers the counties of Barry, Bates, Benton, Boone, Callaway, Camden, Cass, Cedar, Christian, Cole, Cooper, Dade, Dallas, Douglas, Gasconade, Greene, Henry, Hickory, Jasper, Johnson, Laclede, Lawrence, Maries, Miller, Moniteau, Morgan, Newton, Osage, Pettis, Phelps, Polk, Pulaski, St. Clair, Stone, Vernon, Webster and Wright in Missouri, as well as Linn and Miami counties in Kansas.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the small business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to the disaster.

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.625% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to SBA no later than Nov. 25.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Transcript: Governor Hochul is a Guest on ‘Politics Unusual’

    Source: US State of New York

    arlier today, Governor Kathy Hochul was a guest on WNYW-TV’s “Politics Unusual.”

    AUDIO: The Governor’s remarks are available in audio form here.

    A rush transcript of the Governor’s remarks is available below:

    Morgan McKay, WNYW-TV: We are just days away from when the New York State Budget is due, but negotiations hit their first major roadblock on Thursday. Most lawmakers went home for the weekend and won’t be back in Albany until Tuesday. But not everyone went home and negotiations are continuing up in Albany, which is why my first guest, Governor Kathy Hochul, is joining us remotely today from Albany.

    Governor, thank you so much for being here. I knew you’d wanted to be here in person but thank you for finding the time for this interview.

    Governor Hochul: Thanks, Morgan, and congratulations on your new show. I think it’s going to provide an important public service so you can help them dissect the issues of the day, so thank you.

    Morgan McKay, WNYW-TV: Thank you so much, Governor. So, for our viewers, how Budget negotiations work: The Governor, Senate Majority Leader and Assembly Speaker, you’re all locked in a room for the most part, negotiating, hashing out that Budget. And it used to be called three men in a room, but now it’s two women and one man in a room. So the big question, will there be a Budget by April 1, or are you guys going to need to pass a Budget extender?

    Governor Hochul: Morgan, at this point, we’re still in deep conversations. There is a rhythm. You’re a real veteran of Albany, you know that it starts out with a flurry. We have a lot of intense meetings with leaders. We have a chance to share our top priorities, as I have done.

    We know public safety is number one. Getting these discovery law changes so cases aren’t thrown out is an important part of my agenda. Also, making sure that we deal with people who have severe mental illness, who can’t take care of themselves, who are on the streets of New York or in the subway. And also my affordability agenda and cell phones.

    So I have a chance early on to present my vision, and then the legislators have to take it back to their conferences. So when there’s a lull, which is very much part of the rhythm, it’s usually because they have to go back and maybe fine-tune some language or they have to talk to their conferences. So this is not unusual. This is my fourth Budget and we may or may not make April 1.

    But the truth is, I’ve been successful in achieving the goals I set out to do, and that’s what I’m focusing on right now, delivering for the people of this great state.

    Morgan McKay, WNYW-TV: Exactly. And one of these sayings up in Albany is, a deal has to come together and fall apart at least three times before you guys make a final Budget deal.

    But I’m hearing that one of the sticking points in this Budget is that involuntary removal language. Now, where do you guys stand exactly on this issue and getting those struggling with mental illness off the streets and into long-term care? I’m hearing some of the concerns are that they’re going to be back out onto the streets. How do you stop that revolving door?

    Governor Hochul: Well, that’s what’s happening right now, Morgan. They are being — sometimes off the streets because they’re in the throes of a severe mental health crisis. They could do harm to other people or themselves. But we’re also saying, in a case where someone clearly cannot take care of themselves, they’re not being fed properly, their clothes are not clean and they’re just unfortunately sliding into this place which is really inhumane.

    And when we see that, it is heartbreaking. These are God’s children as well. They deserve better than that. And if they don’t have the mental capacity to make decisions, then we have a moral responsibility to get them help.

    What that means is go to a hospital, be seen by two psychiatric experts and make a decision, should they be confined to the hospital. Not a jail. Not a jail. We’re talking about confined to a hospital in a nurturing, supportive environment and getting them on a path to recovery. And why that is so complicated, I’m not sure, because it’s common sense. It recognizes the dignity of every human life, but also takes away the anxiety that people have when they see these individuals because there have been cases where there have been violent acts and it’s unsettling for people on the subway in the streets.

    So we’re trying to get to language that is in place in 43 other states. So I don’t know why this is so challenging, but I’m very committed to getting this done.

    Morgan McKay, WNYW-TV: Now, Governor, earlier this year, you proposed guardrails on Mayor Eric Adams after there were allegations that he was cooperating with the federal government to get his criminal charges dropped. Do you think those guardrails will be in the budget?

    Governor Hochul: No. They have to go to the City Council first. We knew there was a process that said they have to make the changes and ask for a home rule change from the Legislature.

    So again, I was creating options for people in the city who were very concerned about that dynamic that was unfolding; is there undue pressure on the Mayor or not? I thought that we put in some guardrails related to legal decisions and investigations and the budget. Just some ways that we can keep an eye on the situation and give people that sense of confidence, which I thought would be helpful to the Mayor and the city getting stabilized. And if the City Council doesn’t want to do it, then they must be fine with the status quo. I was just reaching out a hand to help out and it’s up to the people in the City Council to decide whether to send it to the Legislature.

    Morgan McKay, WNYW-TV: Yeah, and Adams just recently appointed as First Deputy Mayor, Randy Mastro. He was leading a lawsuit against New York with New Jersey against congestion pricing, and he did back away from representing New Jersey in his lawsuits after he became First Deputy Mayor, but he is still representing Madison Square Garden and James Dolan, what’s your take on this?

    Governor Hochul: Well, I’ll tell you, we won rather handily against him in the congestion pricing lawsuit because they had nothing to stand on. And they actually ended up in a worse place than we were willing to do for them. So I’ll just put that as the aside.

    We are going to continue fighting for congestion pricing because it is working and many naysayers and people who said, “Never, never, never,” are saying, “Eh, it’s actually working.”

    It’s up to the Mayor who he selects to have around him. I hope he’ll pick people that inspire confidence. But again, my job is to work with the Mayor because I also represent 8.3 million New York City residents.

    Morgan McKay, WNYW-TV: Transportation Secretary Sean Duffy this week has been threatening to cut off federal funding to the MTA if there’s not some sort of subway safety plan.

    In fact he said, and we’re going to play this sound by, I know you can’t see it Governor, but we’re going to play it here. And then we’re going to give you a chance to respond. Go ahead.

    Transportation Secretary Sean Duffy: If you want people to take the train, take transit, then make it safe. Make it clean, make it beautiful, make it wonderful.

    Morgan McKay, WNYW-TV: Now they’re saying that if the State doesn’t give them a subway safety plan that they’re going to cut this funding. What’s your response?

    Governor Hochul: We have given them a subway safety plan. Something I unveiled three years ago. Which as you can see with the crime rates being 50 percent lower than they were back when Rudy Giuliani was the Mayor, “Mr. Tough on Crime,” 50 percent lower than that time, 25 percent lower than last year.

    I’m never going to be satisfied with the rate of subway crimes on the subway in our city. No one is ever satisfied as long as there’s even one. But you cannot argue with the fact that my cops plan, I’m funding — State is paying for overtime for police officers, two on every train starting at nine o’clock at night. That has calmed the situation down dramatically. I wanted to make that investment. That’s important. We now have cameras on every single train. I focused on this intently and got it done. We’re also putting up barriers in the subways so people are nervous about being pushed into the tracks. We’ve had some horrific cases.

    They will feel safer behind these barriers as well as continue to collect fares. Fair evasion is down 25 percent, but I’m not done. So I’m happy to work with the Secretary and show him what we’re doing and if he has other ideas on how to do that, we’ll be happy to take assistance from the federal government because they have a vested interest in the success of our subway system as well, because as goes New York City’s economy, so goes the nation.

    And I’ll work with him. He can call it anything he wants, but I know that people in the city rely on the subway and it is safer. It’s not where we want it to go yet, but it is safer than it was. But also he says people won’t take the subway. It’s up 10 percent since January, so people are taking the subway.

    Morgan McKay, WNYW-TV: Thank you so much, Governor, and we have one last question for you here. We reached out to our TikTok viewers and asked them if they wanted to ask you a question, which we’re going to put up here. And this is from Joey Lorenza – with opening day being yesterday, who is the Governor rooting for this baseball season?

    Governor Hochul: All right, here’s how I have to do this. I was raised as a Yankee fan, okay? In Western New York, the closest team of the Toronto Blue Jays, clearly we’re not going for a Canadian team. So there’s a lot of love for the Yankees. I watched them closely when I was in college. I knew all the players, watched them intensely, but I’m also from Buffalo and I have this affinity for the underdog, which the Mets historically had been.

    So I love when an underdog that’s trying to — really scrappy and trying hard. So I say, I want to see the Mets do it because the Yankees got really far last year and I’d like to see the Mets go that far this year. So there you have it. It’ll get me in trouble with half the population, but I will always be willing to take a position on something that’s as important as baseball.

    Morgan McKay, WNYW-TV: Thank you again so much, Governor, for taking the time. I also have my split allegiance between the two teams. Thank you for being here, even if it is virtually. I really appreciate it.

    Governor Hochul: Alright, thanks Morgan. Good luck with the show.

    MIL OSI USA News –

  • MIL-OSI USA: Murray, Nadler, Scott, Stansbury, and Leger Fernandez Condemn Unlawful Dismissal of EEOC Commissioners, Demand Immediate Reinstatement

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, joined Representative Jerrold Nadler (D-NY), Committee on Education & Workforce Ranking Member Bobby Scott (D-VA), Representative Melanie Stansbury (D-NM), and Democratic Women’s Caucus Chair Teresa Leger Fernández (D-NM) in leading 236 Senate and House colleagues in a letter to President Donald Trump in response to his unprecedented and unlawful dismissal of Equal Opportunity Employment Commission (EEOC) Commissioners Charlotte Burrows and Jocelyn Samuels.
    “We write to express our outrage at your unprecedented dismissal of Commissioners Charlotte Burrows and Jocelyn Samuels of the bipartisan U.S. Equal Employment Opportunity Commission,” the Members wrote. “This unlawful abuse of presidential power undermines the EEOC’s historic independence, harms U.S. workers, and unduly politicizes the Commission’s work. It also impedes the Commission’s ability to fully carry out its critical mission on behalf of the American people. We urge you to swiftly reinstate Commissioners Burrows and Samuels.”
    The EEOC was established in 1964 with strong bipartisan support to serve as an independent, multi-member body tasked with preventing and addressing employment discrimination. It is the primary federal law enforcement agency responsible for ensuring that workers are protected against discrimination on the basis of race, color, religion, sex (including pregnancy, childbirth, gender identity, and sexual orientation), national origin, age, disability, and genetic information. Workers rely on the EEOC to be a fair and independent body—not one subject to the shifting political whims of the executive branch.
    Both Commissioner Burrows and Commissioner Samuels had been confirmed by bipartisan votes of the Senate prior to the start of their terms, with Commissioner Burrows’ term not set to expire until July 2028 and Commissioner Samuels term not set to expire until July 2026.
    The Members highlighted the massive return on investment the EEOC delivers for the American people, writing: “From 2014-2024, the EEOC recovered $5.6 billion for workers who were discriminated against under these laws, significantly more than the agency’s appropriations during that time period. For FY 2024, the EEOC secured a record $700 million for workers who experienced discrimination. The EEOC’s role in enforcing these protections is essential to ensuring that all workers have a fair chance to obtain employment, provide for their families, and contribute to our economy.”
    The Members made clear the illegal firing by President Trump is an intrusion into Congress’ constitutional authority, stating, “The Administration’s firing of Commissioner Burrows and Commissioner Samuels is unprecedented and an intrusion into Congress’ Article I constitutional authority. The appointment of EEOC Commissioners is governed by statute and is designed to ensure the agency’s independence from the executive.  The President appoints Commissioners and the Senate confirms them. That is the beginning and end of the executive’s role in determining who can sit on the Commission and for how long. The law not only expressly requires the Commission to be bipartisan, but it also sets out five-year terms, a design that ensures that Commissioners’ terms run between presidential terms, another purposeful action by Congress to ensure the Commission’s independence.”
    “Longstanding Supreme Court precedent also confirms that multi-member independent commissions such as the EEOC enjoy protection from ‘coercive influence’ of the executive. In Humphrey’s Executor v. United States, 295 U.S. 602 (1935), the Supreme Court made clear that members of independent commissions like the EEOC cannot be removed at will by the President. Prior Presidents have agreed; no Commissioner of the EEOC has ever been removed prior to the expiration of their term in the Commission’s 60-year history.”
    “Workers deserve to earn a living free from discrimination and feel confident that when they are harmed, they can count on an independent EEOC, not a politicized body, to protect their rights,” the Members concluded. “We urge you to reinstate Commissioner Burrows and Commissioner Samuels, and we look forward to your urgent response.”
    The full letter can be read HERE and the list of signatories is HERE.
    The letter is endorsed by: A Better Balance, American Civil Liberties Union, the Human Rights Campaign, the Leadership Conference on Civil and Human Rights, National Employment Law Project, National Partnership for Women & Families, and the National Women’s Law Center.
    WHAT THEY ARE SAYING:  
    “Since its establishment 60 years ago as part of the landmark Civil Rights Act of 1964, the EEOC has protected the rights of workers to earn a living free from discrimination. President Trump’s illegal and unprecedented dismissal of Commissioners Charlotte Burrows and Jocelyn Samuels critically impairs the EEOC’s ability to ensure that individuals aren’t denied jobs and opportunities because of who they are.  We condemn the administration’s flagrant politicization of an independent, nonpartisan civil rights agency and join members of Congress calling for the reinstatement of the commissioners without delay,” said Mike Zamore, National Director of Policy and Government Affairs of the American Civil Liberties Union.
    “People rely on the EEOC to be an independent, fair body that will protect their right to be free from discrimination in their workplace,” said Gaylynn Burroughs, Vice President for Education and Workplace Justice at the National Women’s Law Center. “President Trump’s removal of EEOC Commissioners Burrows and Samuels is just another extension of his authoritarian power grab that will ultimately harm workers. His actions are a clear abuse of power intended to bend the Commission to his will, but the Commission works for all working people, not for President Trump. The EEOC was born out of the civil rights movement to help ensure equal employment opportunity for all workers. We will continue to fight to preserve the integrity of the Commission, for equal opportunity, and for the right of all workers to be free from discrimination.”
    “We condemn the administration’s unlawful attempt to fire sitting EEOC commissioners. This reckless decision is already having devastating consequences for workers waiting for the agency to take legal action against employers engaged in discrimination and severe ramifications for the agency’s ability to function effectively and enforce labor and civil rights protections,” said Jocelyn C. Frye, President of the National Partnership for Women & Families. “Workers who are depending on the EEOC to do its job should not have to endure discrimination because of political stunts intended to undermine civil rights enforcement. By making it virtually impossible for the Commission to take important actions, because it lacks a quorum, the administration is effectively circumventing robust enforcement of statutory anti-discrimination protections that workers depend on every day. President Trump must reinstate the commissioners he fired to rectify this situation. We commend Congressman Jerry Nadler and Senator Patty Murray, and all the members of Congress who join us in this fight, for standing up to safeguard the rights and the freedoms of all workers so that they are treated fairly in workplaces that are free of discrimination.”
    “The Equal Employment Opportunity Commission’s role in ensuring equitable workplaces and enforcing our nation’s laws against discrimination is vital. It is an outrage that the Trump Administration has gutted the agency by illegally firing key EEOC Commissioners who have tirelessly championed robust enforcement of important workplace laws like the Pregnant Workers Fairness Act, the Americans with Disabilities Act, and Title VII of the Civil Right Act. This is an overstep of the President’s authority that will hamstring the agency’s ability to carry out its mission. We thank Congressman Nadler, Senator Murray, Ranking Member Scott, Congresswoman Stansbury, and Congresswoman Leger Fernández for their leadership in defending the EEOC,” said Inimai Chettiar, President of A Better Balance. 
    “President Trump’s removal of Commissioners Burrows and Samuels was an outrageous attack on civil rights and the rule of law – one of many actions taken by the president in pursuit of his goal to further entrench inequality and occupational segregation. The EEOC’s independence and bipartisan structure was established by Congress in the Civil Rights Act of 1964 and is essential to its mission to promote equal opportunity in the workplace. This lawlessness and disregard for our Constitution cannot stand,” said Josh Boxerman, Government Affairs Manager, National Employment Law Project.

    MIL OSI USA News –

  • MIL-OSI USA: Senator Murray on Trump Blocking Disaster Relief for Americans

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, Senator Patty Murray (D-WA), Senate Appropriations Committee Vice Chair, issued the following statement on the Trump administration blocking billions of dollars in disaster relief owed to victims and communities struck by disasters for unacceptable, political reasons.
    “When hurricanes or floods or fires destroy Americans’ homes and bring life to a screeching halt for entire communities, the federal government has a serious responsibility to help ensure families have somewhere to stay and communities can not only recover, but rebuild. Every day that promised relief is held up takes a real toll on communities just looking to get back on their feet. No one on the frontlines helping survivors rebuild their lives should be forced to take on new debt, lay off staff, and even halt their urgent work altogether because Trump and Musk have decided to choke off disaster aid. But that is exactly what is happening right now.
    “Blocking relief for disaster victims in order to scrutinize whether potential recipients of that aid align with any administration’s political views is reprehensible—and it is hurting real people in red states and blue states and everywhere in between. There should be no politics involved in helping Americans devastated by disaster. This disaster relief funding isn’t a piggy bank for Elon Musk—President Trump needs to get these taxpayer dollars to the communities that need them immediately.”
    The Trump administration is blocking $10 billion in Federal Emergency Management Agency (FEMA) Disaster Relief Fund Public Assistance for communities struck by disasters to respond and recover. This includes:
    $8.5 billion for disaster relief efforts provided to non-governmental organizations performing essential community services for emergency work to ensure public safety and for the repair, restoration, reconstruction, or replacement of an eligible facility damaged or destroyed by a major disaster.
    $1.3 billion for short-term, emergency shelter for disaster survivors. This funding goes to state, local, Tribal, and territorial (SLTT) governments to cover costs associated with providing emergency shelter for survivors of disasters across the country.
    Nationwide, there are currently thousands of Public Assistance disaster awards being held up and under review by the Trump administration.
    As the Trump administration blocks disaster relief for Americans, it is also weighing plans to eliminate FEMA altogether.

    MIL OSI USA News –

  • MIL-OSI USA: Grassley, Wyden Sound the Alarm on Officials Bypassing Organ Donation List, “Skipping the Line” for Less Critical Patients

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) and Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) are demanding answers from Department of Health and Human Services (HHS) officials regarding a reported increase in organs allocated out of sequence, a practice known as “line skipping.” Grassley, a former chairman and senior member of the Senate Finance Committee, and Wyden, current ranking member, cite an alarming New York Times report revealing that “last year, officials bypassed patients on organ waiting lists in nearly 20 percent of transplants from deceased donors. Those organs often went to patients who were not as sick or had not been waiting as long.”
    The letters were addressed to Centers for Medicare and Medicaid Services (CMS) Acting Administrator Stephanie Carlton and Health Resources and Services Administration (HRSA) Administrator Thomas J. Engels.
    “As the federal agency responsible for overseeing the [Organ Procurement Organizations] and the transplant centers, [CMS and HRSA have] a considerable responsibility for ensuring that these organizations do not engage in behaviors that undermine the system of equitable distribution of lifesaving organs. However, the Times found that at least some OPOs and transplant centers bypassed patients to reduce their work burden, increase their profits, and manipulate their performance measures without any apparent rebuke from CMS’s former leadership,” the senators wrote.
    The senators cite the astonishing example of LifeGift, a Texas-based OPO that skipped 15-year-old Marcus Edsall-Parr, who had been waiting for a transplant nearly his entire life, because Marcus’ case was difficult to match. LifeGift gave the kidney to an open offer at an Illinois hospital rather than transporting the life-saving organ from Illinois to Michigan for Marcus. Marcus’ doctors reportedly filed a complaint about the incident but have yet to receive a response.  
    “Marcus’s case is not an exception to the rule, but an example of an issue that has steadily increased in prevalence. Continued reports of unethical behavior within the organ donation system will undermine the willingness of Americans to give others the gift of life. Strengthening public trust in our nation’s organ donation system is a matter of life and death,” the senators continued.
    Grassley and Wyden’s letters to CMS Acting Administrator Stephanie Carlton and to HRSA Administrator Thomas J. Engels can be found here.
    Background:
    For nearly two decades, Grassley has engaged in bipartisan oversight of the organ transplant system and the government offices tasked with ensuring patient safety. Grassley first launched an investigation into the organ donation system as Finance Committee chair in 2005 and continued his inquiries, while gaining bipartisan support, during his chairmanship in 2020.
    Congress passed the Securing the U.S. OPTN Act as a result of Grassley and Wyden’s long-standing, bipartisan oversight. The bill, which was signed into law in 2023, resulted in the first competitive bidding process for Organ Procurement and Transplantation Network (OPTN) contracts in the program’s nearly half-a-century history and gave HRSA additional statutory authorities to improve management of this system.
    -30-

    MIL OSI USA News –

  • MIL-OSI China: Boao forum 2025 concludes with consensus reached

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

    BOAO, Hainan, March 28 — The Boao Forum for Asia (BFA) Annual Conference 2025 concluded Friday in Boao, a coastal town in China’s island province of Hainan, with a series of consensus reached.

    This year’s meeting mainly reached consensus in five aspects, namely, to firmly uphold multilateralism, strengthen regional cooperation and promote regional economic integration, implement the United Nations’ sustainable development goals, pursue innovation-driven growth, and advocate dialogue and exchanges to enhance understanding and trust and jointly address challenges, Zhang Jun, BFA secretary general, said at the closing press conference.

    Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries closer to their development goals. Running from March 25 to 28, this year’s conference is themed “Asia in the Changing World: Towards a Shared Future.”

    MIL OSI China News –

  • MIL-OSI United Kingdom: UK firm to land Europe’s first rover on Mars

    Source: United Kingdom – Government Statements

    Press release

    UK firm to land Europe’s first rover on Mars

    A UK aerospace company is set to land the first European rover on the red planet, as it wins £150 million to complete the touchdown system delivering the rover safely to Mars.

    Airbus wins contract to land Europe’s first rover on Mars.

    • Airbus UK wins European contract to engineer landing platform that will safely deliver rover on Mars.   
    • First British-built rover will explore the red planet in 2030 for signs of present and past life on Mars.  
    • Contract set to support around 200 high-skilled jobs and boost growth, supercharging Prime Minister’s Plan for Change.

    The new contract, awarded by the European Space Agency and funded by the government through the UK Space Agency, will support a cutting-edge system that will land the Rosalind Franklin rover on the surface of Mars and support its deployment onto the planet.  It will also sustain around 200 high-skilled jobs in the UK space sector and attract international investment, leading to wider growth in the UK economy as part of the Prime Minister’s Plan for Change.

    The first UK-built rover’s mission is to explore the red planet and drill 2 metres down into the surface to hunt for signs of ancient life, such as fossilised microbes, in an effort to find out how our solar system came to be. Exploring Mars is crucial to further our knowledge in climate shifts and may help answer whether life exists beyond our home planet. 

    The mission is made possible by advanced UK robotics and autonomous navigation technologies, which can also be deployed in challenging environments on Earth, such as nuclear power plants and the deep ocean.   

    Named Rosalind Franklin after the British scientist whose work was central to the understanding of the molecular structures of DNA, the rover will be the first European made rover to land on Mars.  

    Britian’s growing space sector is helping to bring jobs and growth to communities and organisations across the UK, with 50,000 people already employed in the sector. It will be a top priority in the government’s Industrial Strategy, which has identified advanced manufacturing and digital and technologies as key growth-driving sectors.

    Technology Secretary Peter Kyle said:  

    This inspiring example of world-class British science will bring us one step closer to answering long-asked questions on potential life on Mars.

    Landing the first ever home-grown rover on Mars, Airbus will not only help Britain make history and lead the European space race but also bring hundreds of highly skilled jobs and investment as we secure Britain’s future through our Plan for Change.

    The rover, entirely built in Stevenage by engineers from Airbus UK, is due to launch in 2028 with the support of NASA and land on Mars in 2030. It was ready to launch in 2022, until the European Space Agency (ESA) cancelled its cooperation with Russia following the illegal invasion of Ukraine.   

    The rover, entirely built in Stevenage by engineers from Airbus UK, is due to launch in 2028 with the support of NASA and land on Mars in 2030. It was ready to launch in 2022, until the European Space Agency cancelled its cooperation with Russia following the illegal invasion of Ukraine.   

    The UK Space Agency and international partners stepped up to replace Russian components in the mission, including the lander platform now under development in Stevenage and a key science instrument now led by Aberystwyth University.  

    Dame Dr Maggie Aderin-Pocock DBE said:

    The British built Rosalind Franklin rover will give us vital insight into the history of Mars. This type of information from other planets can give us a better understanding of our own place in space and our planetary evolution.

    With its unique design that enables it to acquire samples at depth of up to 2 metres, we may get answers to some of the fundamental questions we ask about Mars. Drilling to this depth allow us to look for life away from the hostile Martian surface where radiation is likely to kill life as we know it.

    Samples gathered by the Rosalind Franklin rover may help us answer the age old question “Are we alone in the Universe?

    Paul Bate, CEO of the UK Space Agency, said: 

    This is humanity defining science, and the best opportunity to find if past life once existed on Mars.

    We’re proud to have funded this world leading technology. The ripple effects of space exploration discoveries extend far beyond the realm of space exploration, driving progress and prosperity across multiple sectors in the UK, and inspiring technological advances to benefit us all.

    Our journeys into space continue to improve our lives here on Earth.

    Dr Louisa J Preston, a Co-Investigator on PanCam and Enfys who is based at UCL’s Mullard Space Science Laboratory, said:

    The Rosalind Franklin Rover mission will be a unique ground-breaking mission; the first sent to drill 2 metres into the crust of Mars, collecting and analysing samples that are up to 4 billion years old, with the goal of discovering evidence of past or even present life hidden beneath the surface.

    Rosalind is a truly international collaboration and the UK has taken a pivotal role in this through the development of the PanCam and Enfys instruments, building the rover, and now excitingly providing the landing platform. It is a privilege to be a part of this mission and we cannot wait to finally ‘open our eyes’ at Oxia Planum, the Martian plain where the rover will land, and begin this incredible adventure.

    Under contract from aerospace company Thales Alenia Space (TAS), which is leading the overall ExoMars mission, Airbus teams in Stevenage will design the mechanical, thermal and propulsion systems necessary for the landing platform to ensure a safe touchdown  for the rover in 2030.  

    This will include the landing structure, the large propulsion system used to provide the final braking thrust, and the landing gear to ensure the lander is stable on touchdown. The lander will feature 2 ramps that will be deployed on opposite sides to enable the rover to be driven onto the Martian surface using the least risky route.

    Kata Escott, Managing Director Airbus Defence and Space UK said:

    Getting the Rosalind Franklin rover onto the surface of Mars is a huge international challenge and the culmination of more than 20 years’ work. We are proud to have built the rover in our state-of-the-art Stevenage cleanroom and delighted now to develop the project to ensure its safe delivery to Mars. Rosalind Franklin will be the first Martian rover able to analyse samples from 2 metres below the surface in its search for past or present life. The mission will supercharge our space know-how in the UK, and will advance our collective understanding of our solar system.

    The mission is a collaborative effort from science communities not just across Europe but also the UK, with a range of UK universities involved in the development and launch of the rover. For example, the panoramic camera (PanCam) system on the rover is led by scientists from University College London’s Mullard Space Science Laboratory working with the University of Aberystwyth, Birkbeck College and the University of Leicester. The University of Aberystwyth is also building an infrared spectrometer for the rover, which will identify the most promising rocks to drill and test for evidence of ancient biology.  

    The UK Space Agency also launched the National Space Innovation Programme’s Call 2 funding competition on 27 March. £17 million of grant funding will be made available, supporting businesses, universities, and other space organisations across the UK to develop and commercialise the technologies of the future that will deliver benefits to the UK economy and its citizens.

    Notes to editors

    The contract returns the £150 million invested by the UK into the European Space Agency Exploration Programme to enable the Rosalind Franklin programme to continue. European Space Agency contracts delivered to the UK Space Agency provide an average return of £9.80 for every £1 spent.  

    The US was the last nation to send a rover to Mars in 2021, when NASA’s Perseverance Mars rover collected samples on the red planet.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 29 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Family to be reunited with Nazi-looted artwork after eight decades

    Source: United Kingdom – Government Statements

    Press release

    Family to be reunited with Nazi-looted artwork after eight decades

    The heirs and great-grandchildren of Jewish Belgian art collector Samuel Hartveld are set to receive a painting by Henry Gibbs currently in the collection of the Tate

    • Hartveld and his wife fled Belgium prior to the German occupation during the Second World War, leaving behind their most treasured possessions

    The heirs and great-grandchildren of Jewish Belgian art collector Samuel Hartveld are set to be reunited with a painting that was looted by the Nazis when he fled his home city of Antwerp during the Second World War in May 1940.

    When Hartveld and his wife left the city, the couple were forced to leave behind their most treasured possessions including a painting by Henry Gibbs, titled ‘Aeneas and his Family Fleeing Burning Troy’. The painting is said to have been one of 66 paintings in a gallery owned by Hartveld in Antwerp.

    The narrative painting is believed to be a commentary on the English Civil War, which resulted in exile for many. The painting depicts scenes from ‘The Aeneid’ which is a Latin poem that tells the legendary story of Aeneas, a Trojan who fled the fall of Troy and travelled to Italy, where he became the ancestor of the Romans. The painting depicts the Trojan hero, Aeneas, trying to rescue his family from the burning city.

    After surviving the war, Hartveld was never reunited with his collection of paintings, as a majority of the works were looted and sold by the German authorities with Hartveld and his family receiving none of the proceeds. Some of his artworks may have changed hands several times since 1940 and are believed to be in galleries across Europe. The painting by Henry Gibbs was eventually purchased from Galerie Jan de Maere in Brussels in 1994 by the Tate collection.

    The independent Spoliation Advisory Panel was established by the government in 2000 to consider claims from anyone, or their heirs, who lost cultural property during the Nazi era, where such an object is now in a UK public collection. Over the last 25 years, the panel has received 23 claims, with 14 works being returned to the heirs of their former owners.

    Arts Minister Sir Chris Bryant said:

    The case of Samuel Hartveld is the perfect example of the Spoliation Advisory Panel doing the work it was designed to do – helping to reunite families with their most treasured possessions that were looted by the Nazis.

    The decision to return the painting to the heirs of Samuel Hartveld and his wife is absolutely the right decision, which I welcome wholeheartedly.

    Director of Tate Maria Balshaw said:

    It is a profound privilege to help reunite this work with its rightful heirs, and I am delighted to see the spoliation process working successfully to make this happen. Although the artwork’s provenance was extensively investigated when it was acquired in 1994, crucial facts concerning previous ownership of the painting were not known.

    I would like to thank the Sonia Klein Trust and the Spoliation Advisory panel for their collaboration over the last year. We now look forward to welcoming the family to Tate in the coming months and presenting the painting to them.

    The trustees of the Sonia Klein Trust said:

    The trustees acting for the Sonia Klein Trust and their counsel, Dr. Hannes Hartung, based in Munich, are deeply grateful to the Spoliation Advisory Panel for their recommendation that Tate Britain restitute the narrative painting of Henry Gibbs’ ‘Aeneas and his family fleeing from burning Troy’ and parliament’s ratification of that recommendation.

    This decision clearly acknowledges the awful Nazi persecution of Samuel Hartveld and that the ‘clearly looted’ painting belonged to Mr. Hartveld, a Jewish Belgian art collector and dealer.

    The trustees acting for the Sonia Klein Trust further thank the staff at Tate Britain for working with the trustees and their legal representative Dr. Hannes Hartung, to realise the return of this important painting by a highly regarded British painter. The staff at Tate Britain were open minded and prompt in their approval of the Spoliation Advisory Panel’s recommendation.

    Further, the trustees wish to acknowledge the scholarly efforts of Geert Sels, author of ‘Kunst voor das Reich’, in identifying the plight of Samuel Hartveld and his family because of Nazi persecution in Belgium during World War II. With this restitution, the trustees acting for the Sonia Klein Trust honour and remember the life of Samuel Hartveld and his family.

    The Spoliation Advisory Panel received a claim from trustees acting for the Sonia Klein Trust, established for Mr. Hartveld’s heirs, requesting the return of a painting by Henry Gibbs in May 2024. Following extensive research by the Trust’s legal representatives and others into how the family had come to lose the painting, it was identified as being in the Tate’s collection.

    The Spoliation Advisory Panel then considered all the evidence and decided that the legal and moral claims to the restitution of the painting were sufficiently compelling for them to advise the Secretary of State that the Sonia Klein Trust is entitled to its return.

    The Government welcomes Tate’s full cooperation with this process throughout and its prompt agreement to accept the Panel’s recommendation in full.

    ENDS

    Notes to editors

    The Holocaust (Return of Cultural Objects) Act 2009 allows national museums to return cultural objects, where the Spoliation Advisory Panel recommends and the Arts Minister agrees.

    The Spoliation Advisory Panel, together with the equivalent committees in France, Germany, Austria and the Netherlands is a member of the Network of European Restitution Committees on Nazi-Looted Art. The Network promotes international collaboration and information sharing on these issues.

    Updates to this page

    Published 29 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: AG Brown opposes White House elimination of regulations implementing nation’s bedrock environmental law

    Source: Washington State News

    OLYMPIA — Attorney General Nick Brown led a coalition of 19 attorneys general opposing the Council of Environmental Quality (CEQ)’s interim final rule that repeals its regulations implementing the National Environmental Policy Act (NEPA). NEPA, written by former Washington Senator Henry M. “Scoop” Jackson, established the nation’s bedrock environmental law requiring the federal government to study environmental impacts before taking significant actions.

    Since 1978, CEQ’s regulations have set out specifics for federal agencies to comply with NEPA, including analysis and consideration of the environmental impacts of projects that are located on federal land to receive federal funding or need federal approvals. NEPA mandates detailed environmental review for all major federal actions — like power plants, roads, pipelines and large logging projects — that the federal government plans to undertake.

    The CEQ’s repeal revokes those rules and only allows the public 30 days to comment, even though the outcome is predetermined: the rules will be eliminated. It is an unprecedented attempt from the Trump Administration to undermine federal environmental review and community protections without a meaningful opportunity for public input.

    In a comment letter, the attorneys general argue that the interim final rule violates the Administrative Procedure Act, Endangered Species Act and NEPA. Eliminating CEQ’s NEPA regulations will create uncertainty and delay project approvals, reduce public participation and lead to less-informed environmental decisions.  

    Former Washington Senator Jackson introduced NEPA in the Senate in 1968 and it passed with overwhelming bipartisan support in Congress. President Richard Nixon signed it into law on Jan. 1, 1970. NEPA has been called “the Magna Carta of the nation’s environmental laws.”

    CEQ’s regulations implementing NEPA were first adopted in 1978 and remained unchanged for decades. When the council abandons its NEPA regulations, federal agencies may weaken their environmental review of federal projects and refuse to consider and evaluate potential harmful impacts to expedite project approvals.

    Joining Attorney General Brown in sending the comment letter are the attorneys general of Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, Oregon, Vermont and Wisconsin.

    A copy of the comment letter can be found here.

    -30-

    Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

    Media Contact:

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    MIL OSI USA News –

  • MIL-OSI: Partners Value Investments Inc. Announces 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Partners Value Investments Inc. (the “Company”, TSX: PVF.WT, PVF.PR.V) announced today its financial results for the year ended December 31, 2024. All amounts are stated in U.S. dollars.

    The Company recorded net loss of $3.8 billion for the year ended December 31, 2024, compared to $333 million in the prior year. The decrease in income was primarily attributable to the current year remeasurement losses associated with the retractable shares and warrant liabilities, partially offset by higher investment income and valuation gains as well as foreign currency gains compared to the prior year. The Company’s retractable common shares are classified as liabilities due to their cash retraction feature. The remeasurement gains or losses in a given period are driven by the respective appreciation or depreciation of the Partners Value Investments L.P. (the “Partnership”) unit price as the exchangeable shares are recognized at fair value based on the quoted price of the Partnership’s Equity LP units. During the year, the Partnership unit price increased by $51.79 compared to $4.96 in the prior year.

    Excluding retractable share and warrant liability remeasurement gains and dividends paid on retractable shares, Adjusted Earnings for the Company was $122 million for the year ended December 31, 2024, compared to $27 million in the prior year. Adjusted Earnings were higher in the current year as a result of higher investment income and valuation gains as well as foreign currency gains.

    As at December 31, 2024, the market prices of a Brookfield Corporation (the “Corporation”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (the “Manager”, NYSE/TSX: BAM) share were $57.45 and $54.19, respectively. As at March 28, 2025, the market prices of a BN and BAM share were $51.85 and $48.50, respectively.

    Consolidated Statements of Operations

    For the years ended December 31
    (Thousands, US dollars)    		      
                2024       2023    
    Investment income                      
    Dividends           $ 108,428     $ 96,269    
    Other investment income             18,607       11,802    
                  127,035       108,071    
    Expenses                      
    Operating expenses             (5,553 )     (5,843 )  
    Financing costs             (38,777 )     (35,210 )  
    Retractable preferred share dividends             (33,399 )     (35,456 )  
                  (77,729 )     (76,509 )  
    Other items                      
    Investment valuation gains (losses)             5,703       (6,237 )  
    Retractable share remeasurement losses             (3,575,080 )     (281,451 )  
    Warrant liability remeasurement losses             (306,473 )     (52,694 )  
    Amortization of deferred financing costs             (3,506 )     (3,380 )  
    Foreign currency gain (loss)             53,280       (15,983 )  
    Current tax expense             (3,514 )     (1,270 )  
    Deferred tax expense             (7,489 )     (3,280 )  
    Net loss           $ (3,787,773 )   $ (332,733 )  


    Financial Profile

    The Company’s principal investments are its interest in 121 million Class A Limited Voting Shares of the Corporation and approximately 31 million Class A Limited Voting Shares of the Manager. This represents approximately an 8% interest in the Corporation and a 7% interest in the Manager as at December 31, 2024. In addition, the Company owns a diversified investment portfolio of marketable securities and private fund interests.

    The information in the following table has been extracted from the Company’s Consolidated Statements of Financial Position:

    Consolidated Statements of Financial Position

    As at
    (Thousands, US dollars)    		       December 31,
    2024    		       December 31,
    2023    		  
    Assets              
    Cash and cash equivalents     $ 156,952     $ 199,856  
    Accounts receivable and other assets       69,776       31,456  
    Deferred tax assets       —       4,309  
    Investment in Brookfield Corporation1       6,949,656       4,853,261  
    Investment in Brookfield Asset Management Ltd.2       1,669,488       1,237,554  
    Other investments carried at fair value       1,141,048       889,398  
          $ 9,986,920     $ 7,215,834  
    Liabilities and Equity              
    Accounts payable and other liabilities     $ 42,824     $ 34,916  
    Corporate borrowings       208,168       225,789  
    Preferred shares3       703,044       757,254  
    Retractable common shares       7,312,467       3,718,510  
    Warrant liability       494,710       218,051  
    Deferred tax liabilities       7,933       —  
            8,769,146       4,954,520  
    Equity              
    Accumulated deficit       (6,821,786 )     (3,034,013 )
    Accumulated other comprehensive income       8,027,580       5,283,347  
    Non-controlling interest       11,980       11,980  
          $ 9,986,920     $ 7,215,834  
    1. The investment in Brookfield Corporation consists of 121 million Corporation shares with a quoted market value of $57.45 per share as at December 31, 2024 (December 31, 2023 – $40.12).
    2. The investment in Brookfield Asset Management Ltd. consists of 31 million Manager shares with a quoted market value of $54.19 per share as at December 31, 2024 (December 31, 2023 – $40.17).
    3. Represents $712 million of retractable preferred shares less $9 million of unamortized issue costs as at December 31, 2024 (December 31, 2023 – $767 million less $10 million).

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

    Although the Company believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

    The Company cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: Partners Value Investments L.P. Announces 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”, TSX: PVF.UN TSX:PVF.PR.U) announced today its financial results for the year ended December 31, 2024. All amounts are stated in U.S. dollars.

    The Partnership recorded net income of $74 million for the year ended December 31, 2024, compared to $15 million in the prior year. The increase in income was primarily driven by higher investment income and valuation gains as well as foreign currency gains. Income of $65 million was attributable to the Equity Limited Partners, and $9 million was attributable to Preferred Limited Partners.

    As at December 31, 2024, the market prices of a Brookfield Corporation (the “Corporation”, NYSE/TSX: BN) and Brookfield Asset Management Ltd. (the “Manager”, NYSE/TSX: BAM) share were $57.45 and $54.19, respectively. As at March 28, 2025, the market prices of a BN and BAM share were $51.85 and $48.50, respectively.

    Consolidated Statements of Operations

    For the years ended December 31      
    (Thousands, US dollars)       2024       2023  
    Investment income              
    Dividends     $ 95,071     $ 85,114  
    Other investment income       18,609       11,802  
            113,680       96,916  
    Expenses              
    Operating expenses       (6,552 )     (6,156 )
    Financing costs       (10,136 )     (9,484 )
    Retractable preferred share dividends       (39,879 )     (41,954 )
            (56,567 )     (57,594 )
                   
    Other items              
    Investment valuation gains (losses)       5,703       (6,237 )
    Amortization of deferred financing costs       (3,506 )     (3,380 )
    Foreign currency gains (losses)       25,519       (10,435 )
    Current taxes expense       (3,514 )     (1,270 )
    Deferred taxes expense       (7,489 )     (3,280 )
    Net income     $ 73,826     $ 14,720  
     

    The information in the following table shows the changes in net book value:

    For the years ended December 31 2024   2023
    (Thousands, except per unit amounts)   Total        Per Unit      Total       Per Unit
    Net book value, beginning of year1 $ 5,783,620     $ 70.74   $ 4,656,824     $ 57.60
    Net income2   65,054             5,368        
    Other comprehensive income2   2,690,274             1,443,806        
    Adjustment for impact of warrants1   (148,510 )           (89,755 )      
    Re-organization3   —             98,318        
    Distribution3   —             (327,850 )      
    Equity LP repurchases   (14,756 )           (3,091 )      
    Net book value, end of year4 $ 8,375,682     $ 102.80   $ 5,783,620     $ 70.74
    1. Calculated on a fully diluted basis. Net book value is a non‐IFRS measure used by management to measure the value of an Equity Limited Partnership (“Equity LP”) unit on a fully diluted basis. It is equal to total equity less General Partner equity, Preferred Limited Partners’ equity,
      non-controlling interests’ equity plus the value of consideration to be received on exercising of warrants, which as at December 31, 2024, was
      $114 million (December 31, 2023 – $263 million).
    2. Attributable to Equity Limited Partners.
    3. As a result of the 2023 re-organization, the Partnership issued net equity of $98 million and a distribution-in-kind of $328 million of net assets to Equity Limited Partners.
    4. At the end of the year, the diluted Equity LP units outstanding were 81,474,610 (December 31, 2023 – 81,760,920); this includes 5,640,600 (December 31, 2023 – nil) Equity LP units exchangeable on a one-for-one basis with shares held by a non-wholly owned subsidiary, and units issued through the exercise of all outstanding warrants; including 585,938 (December 31, 2023 – 26,085,938) warrants held by partially-owned subsidiaries of the Partnership.

    Financial Profile

    The Partnership’s principal investments are its interest in approximately 121 million Class A Limited Voting Shares of the Corporation and approximately 31 million Class A Limited Voting Shares of the Manager. This represents approximately an 8% interest in the Corporation and a 7% interest in the Manager as at December 31, 2024. In addition, the Partnership owns a diversified investment portfolio of marketable securities and private fund interests.

    The information in the following table has been extracted from the Partnership’s Consolidated Statements of Financial Position:

    Consolidated Statements of Financial Position

    As at
    (Thousands, US dollars)    		     December 31, 2024       December 31, 2023
    Assets              
    Cash and cash equivalents   $ 156,977     $ 199,856
    Accounts receivable and other assets     48,924       31,416
    Deferred tax asset     —       4,309
    Investment in Brookfield Corporation1     6,949,656       4,853,261
    Investment in Brookfield Asset Management Ltd.2     1,669,488       1,237,554
    Other investments carried at fair value     814,877       612,009
        $ 9,639,922     $ 6,938,405
    Liabilities and equity              
    Accounts payable and other liabilities   $ 42,055     $ 34,150
    Corporate borrowings     208,168       225,789
    Preferred shares3     939,057       993,267
    Deferred tax liability     7,933       —
          1,197,213       1,253,206
    Equity              
    Equity Limited Partners     8,261,639       5,521,067
    General Partner4     —       —
    Preferred Limited Partners     152,040       152,152
    Non-controlling interests     29,030       11,980
          8,442,709       5,685,199
        $ 9,639,922     $ 6,938,405
    1. The investment in the Corporation consists of 121 million Corporation shares with a quoted market value of $57.45 per share as
      at December 31, 2024 (December 31, 2023 – $40.12).
    2. The investment in the Manager consists of 31 million Manager shares with a quoted market value of $54.19 per share as at December 31, 2024 (December 31, 2023 – $40.17).
    3. Represents $712 million of retractable preferred shares less $9 million of unamortized issue costs as at December 31, 2024
      (December 31, 2023 – $767 million less $10 million) and $236 million of three series of preferred shares (December 31, 2023 – $236 million).
    4. In connection with the 2023 re‐organization of Partners Value Investments LP on November 24, 2023, the General Partner’s interest was reduced to $1 from $1 thousand in the prior year.

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. The words “potential” and “estimated” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters, identify forward-looking information.

    Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

    The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: Partners Value Split Corp. Announces 2024 Annual Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Partners Value Split Corp. (the “Company”, TSX: PVS.PR.G, PVS.PR.H, PVS.PR.I, PVS.PR.J, PVS.PR.K, PVS.PR.L) announced today that the net asset value per unit was $171.41 at December 31, 2024 (December 31, 2023 – $124.10). All amounts are in U.S. dollars.

    Income available for distribution for the year ended December 31, 2024, was $85 million, compared to $73 million in the prior year. The increase in income was primarily attributable to the increase in dividend rate per share by Brookfield Corporation (the “Corporation”) and Brookfield Asset Management Ltd. (the “Manager”). During the year ended December 31, 2024, the Company declared and paid dividends in the amount of $79 million
    (December 31, 2023 – $50 million) to the holders of its capital shares.

    The net comprehensive income for the year ended December 31, 2024, of $2.6 billion was primarily driven by unrealized mark-to-market movement on the share prices of the Corporation and the Manager shares. The Corporation share price was $57.45 as at December 31, 2024 (December 31, 2023 – $40.12) and the Manager share price was $54.19 as at December 31, 2024 (December 31, 2023 – $40.17).

    The Company’s capital shares, and preferred shares are referred to collectively as units, with each unit consisting of one capital share and one preferred share (“unit”). The net asset value per unit is posted monthly on our website at www.partnersvaluesplit.com.

    STATEMENTS OF COMPREHENSIVE INCOME

    For the years ended December 31
    (Thousands of US dollars, except per unit amounts)    		     2024       2023  
    Income            
    Dividend income   $ 83,728     $ 71,767  
    Other investment income     1,265       1,817  
          84,993       73,584  
    Expenses            
    Management fees     (18)       (19)  
    Audit fees     (25)       (21)  
    Administrative and other     (327)       (278)  
          (370)       (318)  
    Income available for distribution     84,623       73,266  
    Distributions paid on senior preferred shares and debentures     (31,011)       (31,859)  
    Income available for distribution to junior preferred and capital shares     53,612       41,407  
    Change in unrealized and realized value of investment     2,491,751       1,379,718  
    Amortization of share issuance costs     (3,211)       (3,233)  
    Unrealized foreign exchange gain (loss)     72,344       (19,872)  
    Net comprehensive income   $ 2,614,496     $ 1,398,020  
    Comprehensive income per unit   $ 53.64     $ 28.71  
    Quarterly distribution rate per senior preferred share (C$)              
      –         Class AA, Series 9     0.3063       0.3063
      –         Class AA, Series 10     0.2938       0.2938
      –         Class AA, Series 11     0.2969       0.2969
      –         Class AA, Series 12     0.2750       0.2750
      –         Class AA, Series 13     0.2781       0.2781
      –         Class AA, Series 14     0.3438       N/A

    As at December 31, 2024, the Company owned 120 million Class A Limited Voting shares of the Corporation, and 30 million Class A Limited Voting Shares of the Manager, which together generate cash flow through dividend payments that fund quarterly fixed cumulative preferential dividends for the holders of the Company’s preferred shares and provide the holders of the Company’s capital shares the opportunity to participate in any capital appreciation of the Brookfield shares.

    Brookfield Corporation is a leading global investment firm focused on building long‐term wealth for institutions and individuals around the world. This capital is allocated across three core businesses: asset management, wealth solutions and operating businesses. The Corporation is listed on the New York and Toronto Stock Exchanges under the symbol BN and BN.TO respectively. The Company’s investment in Corporation represents approximately an
    8% interest in the Corporation.

    Brookfield Asset Management Ltd. is a leading global alternative asset manager with over $1 trillion of assets under management across real estate, infrastructure, renewable power and transition, private equity and credit as of December 31, 2024. The Manager is listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.TO respectively. The Company’s investment in Manager represents approximately a 7% interest in the Manager.

    For further information, contact Investor Relations at 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and regulations. The words “generate” and “enable” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking information. Forward-looking information in this news release includes statements with regard to the generation of cumulative preferential dividends for the holders of the Company’s preferred shares and potential participation by the holders of the Company’s capital shares in the capital appreciation of Brookfield Shares.

    Although the Company believes that the anticipated future results or achievements expressed or implied by the forward-looking information and statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on the forward-looking information and statements because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking information and statements.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward‐looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation, the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; limitations on the liquidity of our investments; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws; risks associated with the use of financial leverage; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Company’s documents filed with the securities regulators in Canada.

    We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking information to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as may be required by law, the Company undertakes no obligation to publicly update or revise any forward-looking information or statements, whether written or oral, that may be as a result of new information, future events or otherwise. Reference should be made to the Company’s most recent Annual Information Form for a description of the major risk factors.

    The MIL Network –

  • MIL-OSI USA: Cortez Masto Statement on the Appointment of Sigal Chattah as Interim U.S. Attorney for Nevada

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) released the following statement strongly opposing the appointment of Sigal Chattah as Interim U.S. Attorney for the District of Nevada.

    “Sigal Chattah said our Nevada Attorney General Aaron Ford should be hanged from a crane. She is an election denier who has advocated for political violence, suggested she would target her political enemies, and offered full support to many of President Trump’s blatantly illegal actions in office. U.S. Attorneys should be professionals who stand against corruption, serve as agents for justice, and understand that no one is above the law.

    “President Trump is abusing his power and bypassing Congress to insert a partisan political operative into this position because he knows Nevada’s Senators will not support her. U.S. Attorneys work for the American people, and it has been a tradition for every new administration – including during President Trump’s first term – to work with Nevada Senators to nominate and appoint a qualified candidate. By law, this appointment can only last 120 days. To all the dedicated public servants working in the District of Nevada, I will continue to support you and will fight to make sure we confirm a U.S. Attorney with integrity and a commitment to the rule of law.”

    MIL OSI USA News –

  • MIL-OSI USA: Durbin, Senate Judiciary Democrats Send Letter To Deputy Director Bongino Raising Concerns Over His Ability To Lead The FBI

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    March 28, 2025

    Senators to FBI Deputy Director Bongino: “As the newly appointed Deputy Director, your past public statements raise concerns about your ability to impartially lead the Bureau and credibly command the respect of its workforce”

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, along with U.S. Senators Richard Blumenthal (D-CT), Mazie Hirono (D-HI), Alex Padilla (D-CA), Amy Klobuchar (D-MN), and Adam Schiff (D-CA) sent a letter to the Deputy Director of the Federal Bureau of Investigation (FBI), Dan Bongino, raising serious concerns over his ability to lead the Bureau with FBI Director Kash Patel. Deputy Director Bongino is a former conservative political commentator, podcast host, and conspiracy theorist peddler. The position of the FBI Deputy Director is not Senate-confirmed.

    The Senators wrote, “As the Federal Bureau of Investigation (FBI) finalizes its new leadership structure, we are deeply concerned that Director Kash Patel’s senior leadership team is unprepared forthe challenges of managing our nation’s premier law enforcement agency and its approximately 38,000 public servants.”

    “As the newly appointed Deputy Director, your past public statements—which include inflammatory remarks and unsubstantiated accusations against the FBI, including calling for the Bureau’s disbandment—raise concerns about your ability to impartially lead the Bureau and credibly command the respect of its workforce. Your record, on the other hand, does not reflect the expertise required to manage the FBI’s complex and expansive operations,” the Senators continued.

    In the letter, the Senators ask for clarification regarding Deputy Director Bongino’s past controversial comments including when he said on his podcast, “The only thing that is going to stop the FBI from doing what they’re doing now, which is become full-time activists and bouncers, in many cases, thugs for the Democrat [sic] party, is imposing real material losses on them (emphasis added). Fire everyone involved in this stuff. Everyone—no excuses. Disband the entity.”

    On November 14, 2024, Deputy Director Bongino described the January 6, 2021, attack on the U.S. Capitol and the placement of pipe bombs outside of the Democratic National Committee (DNC) and Republican National Committee (RNC) headquarters as an “inside job” and said, “There is a massive cover-up, because the person who planted those pipe bombs—they don’t want you to know who it was, because it’s either a connected anti-Trump insider, or this was an inside job. Those bombs were planted there. This was a setup. I have zero doubt… And whoever goes into FBI… you better get an answer… about why.” He continued to say, “It is clear, this all adds up to they know who this person is. They just don’t want you to know who this it is. Later in the podcast, Bongino went on to say that “the FBI knew the entire time the identity of this person and then tried to unknow it, because it was an insider and an inside attack and a plot to, you know, stop Republicans from questioning the election results.”

    The Senators continued, “Your claim that the FBI is responsible for a cover-up is an extremely serious allegation that you have an obligation either to substantiate or repudiate. Now that you have access to the information you have long claimed that the FBI possesses, can you answer who was responsible for the pipe bombs on January 6, 2021 and provide evidence proving their identity to the public and Congress? If no, will you apologize to the men and women of the FBI for spreading this dangerous and irresponsible lie?”

    The Senators asked for clarification of these statements by April 11, 2025.

    The full text of the letter can be found here and below:

    Dear Deputy Director Bongino:

    As the Federal Bureau of Investigation (FBI) finalizes its new leadership structure, we are deeply concerned that Director Kash Patel’s senior leadership team is unprepared for the challenges of managing our nation’s premier law enforcement agency and its approximately 38,000 public servants. As the newly appointed Deputy Director, your past public statements—which include inflammatory remarks and unsubstantiated accusations against the FBI, including calling for the Bureau’s disbandment—raise concerns about your ability to impartially lead the Bureau and credibly command the respect of its workforce. The Deputy Director oversees all FBI domestic and international investigative and intelligence activities and has historically been a career agent with extensive experience in the Bureau. Your record, on the other hand, does not reflect the expertise required to manage the FBI’s complex and expansive operations. To help address these concerns, we ask that you answer the following questions by April 11, 2025:

    1. You previously said, “We don’t just fire the people who did this. Everyone who stood by and did nothing while the Department of Justice and the FBI have been ravaged, ravaged by ‘corruptocrats’ [sic].Everyone gets fired. Everyone (emphasis added).” As Deputy Director, do you still believe that every one of the FBI’s employees who “stood by” should be fired? How do you intend to determine which of the FBI’s approximately 38,000 employees “stood by”?
    2. On September 26, 2022, you said on your podcast: “The only thing that is going to stop the FBI from doing what they’re doing now, which is become full-time activists and bouncers, in many cases, thugs for the Democrat [sic] party, is imposing real material losses on them (emphasis added). Fire everyone involved in this stuff. Everyone—no excuses. Disband the entity.” Now that you are a member of the Bureau’s senior leadership team, do you believe the thousands of personnel who report to you still need to suffer “real material losses”? Do you still believe the FBI should be disbanded? If yes, how do you plan on implementing such an agenda?
    3. On August 29, 2024, in response to the FBI releasing information about the Butler assassination attempt, you posted: “Folks, the FBI is at it again. I don’t trust these people at all.” How can the FBI’s career law enforcement personnel earn your trust in light of this statement? Conversely, how do you intend to earn their trust when you have spent years attacking their integrity?
    4. On November 14, 2024, you described the January 6, 2021 attack on the U.S. Capitol and the placement of pipe bombs outside of the Democratic National Committee (DNC) and Republican National Committee (RNC) headquarters as an “inside job” and said:

    There is a massive cover-up, because the person who planted those pipe bombs—they don’t want you to know who it was, because it’s either a connected anti-Trump insider, or this was an inside job. Those bombs were planted there. This was a setup. I have zero doubt…. And whoever goes into FBI… you better get an answer… about why.

    Now that you are inside the FBI, have you seen evidence to prove your implausible and outrageous allegation that the January 6 attack was an “inside job”? If yes, when do you plan to provide that evidence to the public and Congress? If no, will you apologize to the American people for perpetuating this baseless conspiracy theory?

    1. Earlier this year, you said on your podcast about the unsolved January 6, 2021 pipe bombs case:

    It is clear, this all adds up to they know who this person is. They just don’t want you to know who this it is. Later in the podcast, you went on to say that “the FBI knew the entire time the identity of this person and then tried to unknow it, because it was an insider and an inside attack and a plot to, you know, stop Republicans from questioning the election results.

    You then claimed that “they did conduct an investigation, a legitimate one, for probably a couple of weeks because a friend of mine, who’s a federal agent, was involved in it. And they told him, once they started to hone in on who it was, to stand down.” We are disappointed that the pipe bomb case remains unsolved, given the significant danger this threat presented to the public, staff, and elected officials at the RNC and DNC on January 6, 2021. Your claim that the FBI is responsible for a cover-up is an extremely serious allegation that you have an obligation either to substantiate or repudiate. Now that you have access to the information you have long claimed that the FBI possesses, can you answer who was responsible for the pipe bombs on January 6, 2021 and provide evidence proving their identity to the public and Congress? If no, will you apologize to the men and women of the FBI for spreading this dangerous and irresponsible lie?

    Thank you for your prompt attention to this matter. We look forward to hearing from you soon.

    Sincerely,

    -30-

    MIL OSI USA News –

  • MIL-OSI United Nations: Secretary-General Appoints James Swan of United States Special Representative, Head of United Nations Transitional Assistance Mission in Somalia

    Source: United Nations General Assembly and Security Council

    United Nations Secretary-General António Guterres announced today the appointment of James Swan of the United States as his Special Representative for Somalia and Head of the United Nations Transitional Assistance Mission in Somalia (UNTMIS).  The Secretary-General expresses his gratitude to Mr. Swan for acting as Special Representative for Somalia and Head of the United Nations Assistance Mission in Somalia (UNSOM)/UNTMIS since May 2024, and is pleased that Mr. Swan accepted to continue to lead the United Nations in Somalia during this critical period.

    Mr. Swan is an experienced diplomat with a long career in African countries facing complex political transitions.  Prior to serving as acting Special Representative for Somalia and Head of UNSOM/UNTMIS as well as Special Representative for Somalia and Head of UNSOM (2019-2022), he worked in the United States Government as Ambassador to the Democratic Republic of the Congo (2013-2016), Special Representative for Somalia (2011-2013) and Ambassador to Djibouti (2008-2011).

    In his earlier career, Mr. Swan was Deputy Assistant Secretary of State for African Affairs (2006-2008) and Director of African Analysis in the United States Department of State’s Bureau of Intelligence and Research (2005-2006).  Before assuming these positions, Mr. Swan held various assignments in the Democratic Republic of the Congo, the Republic of the Congo, Somalia, Cameroon, Nicaragua and Haiti.

    Mr. Swan holds a Bachelor of Science degree from Georgetown University’s School of Foreign Service, a Master of Arts degree from Johns Hopkins University’s School of Advanced International Studies and a master’s degree in security studies from the National War College, all in the United States. He is fluent in English and French.

    MIL OSI United Nations News –

  • MIL-OSI USA: Padilla Leads Colleagues Warning About Devastating Impact of Trump Cuts to Mental Health Agency

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla Leads Colleagues Warning About Devastating Impact of Trump Cuts to Mental Health Agency

    Senators to RFK, Jr.: “We strongly urge you to reconsider these devastating cuts and instead work to ensure that SAMHSA and the American people have the resources they need to fully address their mental and behavioral health concerns”

    WASHINGTON, D.C. — U.S. Senator Alex Padilla (D-Calif.), co-founder of the bipartisan Senate Mental Health Caucus, led 12 Democratic Senators in warning Secretary of Health and Human Services (HHS) Robert F. Kennedy, Jr. that additional staffing cuts at the Substance Abuse and Mental Health Services Administration (SAMHSA) would have disastrous ramifications for millions of Americans struggling with mental and behavioral health challenges. The Senators expressed deep concerns about the Trump Administration’s threat to cut up to 50 percent of remaining SAMHSA staff after already letting go of 10 percent of employees earlier this year, including essential employees operating the 9-8-8 Suicide and Crisis Lifeline.

    Many of SAMHSA’s crucial operations will be impacted by the Trump Administration’s planned workforce cuts, including nearly $7 billion in grant distribution to states, localities, and tribes, efforts to increase access to early intervention for mental health care, and support services for timely crisis care. These services include the SAMHSA-administered 9-8-8 Suicide and Crisis Lifeline, which has served over 14.5 million Americans in crisis since it went live in July 2022.

    The letter comes after RFK, Jr. announced a major restructuring of the HHS Department yesterday, including an unlawful plan to close down SAMHSA and merge its programs into his new “Administration for a Healthy America.”

    “We are deeply troubled that in the midst of our nation’s mental health and substance use crisis, the Department of Government Efficiency (DOGE) saw fit to downsize the agency responsible for fighting these twin epidemics,” wrote the Senators. “In 2024, SAMHSA distributed over $6.9 billion to states, localities, and tribes to fund lifesaving mental health and substance use disorder programs. Further cuts to SAMHSA’s staff will hamper its ability to conduct appropriate oversight of these grants.”

    “We are also gravely concerned about the impacts of previous dismissals and future staffing cuts to the SAMHSA-administrated 9-8-8 Suicide and Crisis Lifeline,” continued the Senators. “Additional SAMHSA layoffs risk decimating the Lifeline and doing fundamental harm to the President Trump’s legacy.”

    The Senators emphasized that the Trump Administration’s previous firings have already forced two SAMHSA regional offices in Regions 4 and 5 to close, impacting access to care in the South and Midwest. As a result of these cuts, Americans in 14 states now lack access to any regional officials to help administer local grants and oversee lifesaving substance use and mental health programs in these communities.

    According to the National Survey on Drug Use and Health, 48.5 million Americans aged 12 and older battled a substance use disorder in 2023, and 58.7 million Americans aged 18 and older experienced a mental health condition. Over the past 22 years, suicide rates have increased 36 percent, and suicide is among the leading causes of death for people ages 10-64. The programs SAMHSA administers are crucial to addressing the growing mental health crisis.

    “We strongly urge you to reconsider these devastating cuts and instead work to ensure that SAMHSA and the American people have the resources they need to fully address their mental and behavioral health concerns,” concluded the Senators.

    In addition to Senator Padilla, the letter was signed by Senators Angela Alsobrooks (D-Md.), Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Mazie Hirono (D-Hawaii), Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Jack Reed (D-R.I.), Adam Schiff (D-Calif.), Tina Smith (D-Minn.), Peter Welch (D-Vt.), and Ron Wyden (D-Ore.).

    Senator Padilla is a leading advocate for expanding mental health care access, especially for underserved communities. In 2023, Padilla and Senators Thom Tillis (R-N.C.), Tina Smith (D-Minn.), and Joni Ernst (R-Iowa) launched the bipartisan Senate Mental Health Caucus to serve as a forum for Senators to collaborate on and promote bipartisan legislation and solutions, hold events to raise awareness of critical mental health issues, and destigmatize mental health. Padilla and Tillis applauded the Federal Communications Commission for making critical improvements to the 9-8-8 Suicide and Crisis Lifeline to help callers access localized, lifesaving behavioral health resources, mirroring the main provision of the Senators’ Local 9-8-8 Response Act of 2023. 

    Additionally, Padilla recently introduced bipartisan legislation to combat the growing youth mental health crisis in America through early intervention and prevention services. Last year, Padilla passed a Senate resolution to raise the alarm about the mental health care crisis American children face and highlight the urgent need to increase our investment in mental health care for children and adolescents. Padilla previously introduced a trio of bills to address the unique mental health needs of military children, Latinos, and farm workers.

    Full text of the letter is available here and below:

    Dear Secretary Kennedy:

    We write to express our deep concerns regarding the recent terminations of probationary staff at the Substance Abuse and Mental Health Services Administration (SAMHSA). On February 14, 2025, approximately 10 percent of SAMHSA’s workforce was dismissed, and we understand that significantly more dismissals, up to 50 percent, are imminent at SAMHSA.

    According to the National Survey on Drug Use and Health, 48.5 million Americans aged 12 and older battled a substance use disorder in 2023, and 58.7 million Americans aged 18 and older experienced a mental health condition. Over the past 22 years, suicide rates have increased 36 percent. Suicide is among the leading causes of death for people ages 10-64 and is the second leading cause of death for people aged 10-14 and 25-24. We are deeply troubled that in the midst of our nation’s mental health and substance use crisis, the Department of Government Efficiency (DOGE) saw fit to downsize the agency responsible for fighting these twin epidemics.

    While all Members of Congress agree with ending waste, fraud, and abuse in the government, these recent dismissals do not serve that goal. As you know, a significant portion of SAMHSA’s mission is to provide grants and resources for states, Tribes, nonprofits, and community-based organizations. In 2024, SAMHSA distributed over $6.9 billion to states, localities, and tribes to fund lifesaving mental health and substance use disorder programs. Further cuts to SAMHSA’s staff will hamper its ability to conduct appropriate oversight of these grants. In short, further staff reductions will increase the risk of fraud, waste, and abuse, not decrease it.

    We hope that you share our strong view that between the over 10% of staff that was previously dismissed and the staff that participated in the Deferred Resignation Program, SAMHSA has experienced a significant staff reduction that is already imperiling its services and endangering the lives of countless Americans. As has been reported, two SAMHSA regional offices (Regions 4 & 5) have been forced to effectively close as there is no longer staff to run these offices. This has left Americans in 14 states without any access to regional officials to help administer local grants and oversee life-saving substance use and mental health programs in these communities.  

    We are also gravely concerned about the impacts of previous dismissals and future staffing cuts to the SAMHSA-administrated 9-8-8 Suicide and Crisis Lifeline. As you know, President Trump signed into law the National Suicide Hotline Designation Act of 2020, which created the 9-8-8 Lifeline, that has served over 14.5 million Americans since it went live in July 2022. Additional SAMHSA layoffs risk decimating the Lifeline and doing fundamental harm to the President Trump’s legacy.

    Given the serious effects that previous layoffs have already had on SAMHSA’s workforce and the crippling effects further layoffs would have, we ask that you respond to the following questions in writing by April 4, 2025.

    1. Provide the total number of full-time equivalents SAMHSA had on January 17, 2025.

    2. Provide the total number of full-time equivalents SAMHSA had on February 13, 2025.

    3. Provide the total number of SAMHSA employees terminated on February 14, 2025, including the total number of Veterans.

    4. Provide the total number of SAMHSA employees who primarily work on the 988 National Suicide and Crisis Lifeline terminated on February 14, 2025.

    5. Provide the total number of SAMHSA employees who were terminated on February 14, 2025, and have since been reinstated.

    6. Will you abide by Judge Alsup’s March 13, 2025, order to reinstate probationary workers who were fired? If so, when will these reinstatements begin and how many employees will be reinstated? If not, why will you not abide by this court ruling?

    7. SAMHSA’s regional offices in regions 4 and 5 closed due to termination orders. Will you commit to reopening these offices public in these 14 states? If so, when will these offices be reopened and how many employees will return to each regional office?

    8. Will you commit to not conducting additional layoffs at SAMHSA? As President Trump noted in the March 6, 2025, cabinet meeting, staffing decisions will be led by Cabinet Secretaries, not DOGE.

    Therefore, we strongly urge you to reconsider these devastating cuts and instead work to ensure that SAMHSA and the American people have the resources they need to fully address their mental and behavioral health concerns.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Sullivan and Peters Introduce Resolution to Preserve Independent USPS

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    03.28.25

    WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska) and Gary Peters (D-Mich.) introduced a bipartisan resolution to support the independence and critical public service mission of the United States Postal Service, emphasizing the essential role the Postal Service has played in connecting and serving Americans, especially in rural communities. Sens. Sullivan and Peters were joined in introducing the resolution by U.S. Senators Lisa Murkowski (R-Alaska), Susan Collins (R-Maine), Maggie Hassan (D-N.H.) and Thom Tillis (R-N.C.).

    “In a state as vast as ours, with many remote communities only accessible by air or water, the USPS serves as an essential government agency that keeps postal services affordable for Alaskans,” Senator Sullivan said. “The Bypass Mail program—a lifeline for Rural Alaska that I have fought for since becoming a senator—allows the USPS to fulfill its universal service obligation to deliver goods and services to even the most remote parts of our state. I will forcefully oppose any action that threatens that program. I am glad to work with my colleagues from other rural states on this resolution to oppose the privatization of the Postal Service and ensure that this critical agency remains focused on its statutory requirement to reliably deliver mail to every household, no matter how remote.”  

    “Federal statute has long recognized that the Postal Service’s core purpose is ‘to bind the Nation together through the personal, educational, literary, and business correspondence of the people.’ In Alaska, where most communities are unconnected by road and where internet connectivity—when available—is often unreliable or prohibitively expensive, we rely on the USPS to deliver vital basic necessities, whether that is food, medicine, election ballots, spare parts, store inventory, or subsistence supplies,” said Senator Murkowski. “I am proud to co-sponsor this resolution again to reaffirm the significance of the United States Postal Service as an independent establishment of the Federal Government and to reject its privatization.”

    “For more than 250 years, the Postal Service has been a cornerstone of our nation, connecting every household and business across the country,” said Senator Peters. “Any efforts to undermine the Postal Service’s independence or privatize it would jeopardize affordable, universal mail service and harm the millions of Americans—especially veterans, small business owners, and rural communities—who rely on the Postal Service every day. This resolution reaffirms our commitment to keeping the Postal Service independent and self-sustaining, ensuring it continues to serve as a vital lifeline for all Americans.”

    “The privatization of the United States Postal Service would be devastating to Alaskans not only in remote communities, but throughout the state. The Postal Service currently serves all Alaskans, regardless of where they live. It serves many areas of the state that are not profitable for other shippers. If the Postal Service is privatized, it will significantly increase shipping costs throughout the state and be devastating to Alaska’s economy. All Alaska letter carriers of the National Association of Letter Carriers stands by Senator Sullivan in his efforts to keep the Postal Service a public service to all Alaskans,” said Chris Crutchfield, Alaska State Chair for the National Association of Letter Carriers.

    The full text of the resolution can be found here.

    BACKGROUND

    Since 1775, the United States Postal Service and its dedicated postal workforce have performed the essential government function of “providing postal services to bind the Nation together through the personal, educational, literary, and business correspondence of the people” and “rendering postal services to all communities” (39 USC 101). Across the nation today, 630,000 postal employees deliver the mail to more than 168 million residential and business customers, six days a week. The Postal Service is consistently the highest-rated government agency in nonpartisan opinion polls. It also plays a crucial role in our national security, protecting us from mail-borne threats.

    In support of the Postal Service, this bipartisan resolution expresses the sense of the Senate that Congress should take all appropriate measures to ensure the Postal Service remains an independent establishment of the Federal Government and is not subject to privatization. The resolution also recognizes:

    • The Postal Service is at the center of the $1.9 trillion mailing industry, which employs 7.9 million people in the United States.
    • The Postal Service is a self-sustaining, independent establishment that relies on revenue derived from the sale of postal services and products, not on taxpayer funds.
    • The Postal Service maintains an affordable and universal network, connecting rural, suburban, and urban communities.
    • Postal Service employees, including over 73,000 military veterans, are dedicated public servants who serve as the eyes and ears of our communities.

    MIL OSI USA News –

  • MIL-OSI: Summit State Bank Reports Revised Fourth Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SANTA ROSA, Calif., March 28, 2025 (GLOBE NEWSWIRE) — Summit State Bank (the “Bank”) (Nasdaq: SSBI) today reported that it has revised its fourth quarter and full year 2024 financial results from those announced in the press release dated January 28, 2025. In connection with the preparation and review of its 2024 financial statements, the Bank has concluded it is necessary to record a $693,000 other real estate owned valuation adjustment, a $146,000 increase in reserve for unfunded loans, and a $76,000 credit loss provision reversal for the fourth quarter 2024. The need for the valuation adjustment results from an updated appraisal report obtained in the first quarter of 2025. The additional reserve for unfunded loans and provision reversal results from the Bank’s adoption of a new CECL model as of December 31, 2024. The valuation adjustment was expensed against noninterest income and also reduced the Bank’s other real estate owned asset. The additional reserve for undisbursed loans and the reversal of the credit losses on loans resulted in a net expense against the provision for credit losses. The income tax provision was adjusted accordingly for all changes noted above.

    After the impact adjustments as outlined above, the Bank’s preliminary, unaudited fourth quarter earnings estimate is revised to a net loss of $7,142,000, or $1.06 loss per diluted share, and full-year 2024 net loss of $4,193,000, or $0.62 loss per diluted share. The Bank previously reported preliminary, unaudited results for fourth quarter 2024 including net loss of $6,605,000 or $0.98 loss per diluted share, and full-year 2024 net loss of $3,656,000, or $0.54 loss per diluted share.

    Material Updates to Income Statement
    The Bank originally reported noninterest income of $1,373,000 in the fourth quarter of 2024 and $4,152,000 for full-year 2024. After the adjustment, noninterest income was reduced to $680,000 in the fourth quarter of 2024 and $3,459,000 for full-year 2024.

    The Bank originally reported total provision for credit losses of $6,652,000 in the fourth quarter of 2024 and $7,845,000 for full-year 2024. After the adjustment, total provision increased to $6,722,000 in the fourth quarter of 2024 and $7,915,000 for full-year 2024.

    Impact to Income Taxes
    The Bank’s revised effective tax rate for the twelve months ended December 31, 2024 was 4.4% compared to the previously reported effective tax rate of -0.8%.

    Updated Previously Furnished Earnings Materials
    For completeness, the Bank has included all previously announced financial results disclosures and related tables with this press release as revised. These results supersede the results previously disclosed in the January 28, 2025 press release.

    Revised Fourth Quarter 2024 Financial Results

    The Bank has a net loss of $7,142,000, or $1.06 loss per diluted share for the fourth quarter ended December 31, 2024, compared to net income of $1,901,000, or $0.28 per diluted share for the fourth quarter ended December 31, 2023. The current quarter’s results were impacted by expenses including a $6,570,000 provision for credit losses on loans and a $4,119,000 one-time non-cash impairment charge to write off the remaining balance of goodwill. The Bank has taken significant charge offs and provisions for credit losses in the fourth quarter of 2024 as a proactive step towards resolving its problem loans. The goodwill impairment was a result of the Bank’s stock price trading below book value and is a non-cash charge that does not impact the Bank’s cash flows, liquidity, or regulatory capital. The Bank ended the year with improved regulatory capital ratios and is focused on expanding net interest margin in 2025.

    For the year ended December 31, 2024, the Bank reported a net loss of $4,193,000, or $0.62 loss per diluted share compared to net income of $10,822,000, or $1.62 per diluted share for the year ended December 31, 2023. The 2024 net income loss was primarily attributable to annual provision for credit losses on loans totaling $7,882,000 and a one-time non-cash goodwill impairment expense of $4,119,000.

    Pre-tax, pre-provision net income before goodwill1 was $2,301,000 for the quarter ended December 31, 2024, compared to $2,122,000, $1,267,000, $1,955,000 and $2,643,000 for the quarters ended September 30, 2024, June 30, 2024, March 31, 2024, and December 31, 2023, respectively. “At the beginning of 2024, the Bank was negatively impacted by the ongoing strains that the high-interest rate environment put on our funding costs,” said Brian Reed, President and CEO. “By the fourth quarter of 2024, the Bank’s core operating results improved due to a lower cost of funds and improved noninterest income.”

    “The Bank continues to focus on maintaining strong capital levels and did that effectively in 2024 by strategically managing the balance sheet and suspending cash dividends. As such, the Board determined it will also suspend cash dividends in the first quarter of 2025 so that we can build capital, increase liquidity, and position the Bank to create long-term value for our shareholders.”

    “The largest negative impact on the Bank’s performance in 2024 was a result of the heightened level of non-performing assets,” said Reed. “We have been aggressively pursuing solutions to these problem loans and have reduced our non performing loans by $9,160,000 in the fourth quarter of 2024. We anticipate non performing loans will be further reduced by $18,187,000 in the first half of 2025 as a result of loan payoffs from the sale of collateral that is currently under contract to be sold.”

    “We are headed into 2025 feeling positive about our prospects subsequent to our significant progress in resolving problem loans. We continue to maintain our well capitalized status and sufficient liquidity after having realized successive quarters of improved net operating income results,” concluded Reed.

    Fourth Quarter 2024 Financial Highlights (at or for the three months ended December 31, 2024)

    • The Bank’s Tier 1 Leverage ratio increased to 8.87% at December 31, 2024 compared to 8.85% at December 31, 2023. This ratio remains above the minimum of 5% required to be considered “well-capitalized” for regulatory capital purposes.
    • The Bank has implemented numerous operating cost saving initiatives including an 8% reduction in force.
    • The Bank’s annualized loss on average assets and annualized loss on average equity for the fourth quarter of 2024 was 2.59% and 28.05%, respectively. The pre-tax, pre-provision return on average assets before goodwill1 and pre-tax, pre-provision return on average equity before goodwill1 in the fourth quarter would have been 0.83% and 9.04%, respectively.
    • Net income was a loss of $7,142,000 for the fourth quarter of 2024. Pre-tax, pre-provision net income before goodwill1 was $2,301,000 for the fourth quarter of 2024 compared to $2,122,000, $1,267,000, $1,955,000 and $2,643,000 for the quarters ended September 30, 2024, June 30, 2024, March 31, 2024, and December 31, 2023, respectively.
    • Collateral relating to two of the non performing loans is in contract to sell in the first half of 2025 and the expected proceeds represent 65% or $18,010,000 of the remaining $27,754,000 of non performing loans.
    • The allowance for credit losses to total loans was 1.49% after charging off $8,343,000 and recording a $6,570,000 provision for credit losses on loans to replenish reserves on December 31, 2024.
    • The Bank maintained strong total liquidity of $435,409,000, or 40.8% of total assets as of December 31, 2024. This includes on balance sheet liquidity (cash and equivalents and unpledged available-for-sale securities) of $111,471,000 or 10.4% of total assets, plus available borrowing capacity of $323,938,000 or 30.4% of total assets.
    • The Bank has been strategically managing its loan and deposit portfolios to reduce risk in the balance sheet and improve capital ratios. The Bank has been successful in reducing the size of its balance sheet as noted below:
      • Net loans decreased $33,551,000 to $905,075,000 at December 31, 2024, compared to $938,626,000 one year earlier and decreased $12,292,000 compared to $917,367,000 three months earlier.
      • Total deposits decreased 5% to $962,562,000 at December 31, 2024, compared to $1,009,693,000 at December 31, 2023, and decreased 4% when compared to the prior quarter end of $1,002,770,000.
    • Book value was $13.53 per share, compared to $14.40 per share a year ago and $14.85 in the preceding quarter.

    Operating Results

    For the fourth quarter of 2024, the annualized loss on average assets was 2.59% and the annualized loss on average equity was 28.05%. This compared to an annualized return on average assets of 0.67% and an annualized return on average equity of 8.02%, respectively, for the fourth quarter of 2023. These ratios were negatively impacted during the fourth quarter of 2024 by a credit loss provision and one-time goodwill impairment. Without the impact from these items, the pre-tax, pre-provision return on average assets before goodwill1 and the pre-tax, pre-provision return on average equity before goodwill1 would have been 0.83% and 9.04%, respectively, for the three months ended December 31, 2024.

    For the year ended 2024, the loss on average assets was 0.38% and the loss on average equity was 4.23%. This compares to the return on average assets of 0.95% and return on average equity of 11.56%, respectively, for the year ended 2023.

    The Bank’s net interest margin was 2.88% in the fourth quarter of 2024 compared to its lowest quarterly net interest margin this year of 2.71% which occurred in the second and third quarters of 2024. The current net interest margin is also higher compared to the fourth quarter of 2023 of 2.85%. This was primarily attributable to the cost of deposits decreasing in the fourth quarter of 2024 to 2.87% compared to 3.05% during the preceding quarter. “We are starting to see an improvement in cost of funds in response to the Federal Reserve rate decreases. As CDs mature, we expect to see continued improvement in deposit pricing in the near future,” said Reed. “In addition, loan yields have started to improve as our existing loans have started to reprice.”

    Interest and dividend income decreased 1.0% to $14,935,000 in the fourth quarter of 2024 compared to $15,036,000 in the fourth quarter of 2023. The decrease in interest income is attributable to a $182,000 decrease in interest on investment securities and a $137,000 decrease in interest on deposits with banks offset by an increase of $214,000 in interest and fees on loans.

    Noninterest income increased in the fourth quarter of 2024 to $680,000 compared to $297,000 in the fourth quarter of 2023. The increase is primarily attributed to the Bank recognizing $857,000 in gains on sales of SBA guaranteed loan balances offset by the valuation adjustment on other real estate owned of $693,000 in the fourth quarter of 2024 compared to no gains on sales of SBA guaranteed loan balances in the fourth quarter of 2023.

    Operating expenses increased in the fourth quarter of 2024 to $10,200,000 compared to $5,483,000 in the fourth quarter of 2023. The increase is primarily due to a one-time non-cash impairment charge of $4,119,000 to write off the remaining balance of goodwill. In addition, the Bank recorded a $443,000 loss related to an external check fraud event during the fourth quarter of 2024. The Bank has filed an insurance claim related to this fraud loss and may be partially reimbursed by insurance at a later date.

    “We remain focused on enhancing revenue generation and driving significant cost efficiencies to improving our operational effectiveness. To date we have leveraged existing staff and technologies to reduce third-party expenses, eliminated raises and bonuses, reduced employee benefits Bank-wide, and reduced director fees.”

    Balance Sheet Review

    During 2024, the Bank strategically managed its loan and deposit portfolios to reduce risk in the balance sheet and improve capital ratios. As a result of the efforts, net loans decreased 4% to $905,075,000 and total deposits also decreased 5% to $962,562,000 as of December 31, 2024 compared to December 31, 2023.

    Net loans were $905,075,000 at December 31, 2024 compared to $938,626,000 at December 31, 2023, and decreased 1% compared to September 30, 2024. The Bank’s largest loan types are commercial real estate loans which make up 78% of the portfolio, “secured by farmland” totaling 9% of the portfolio, and 7% in commercial and industrial loans. Of the commercial real estate total, approximately 34% or $231,000,000 is owner occupied and the remaining 66% or $451,000,000 is non-owner occupied. The Bank’s entire loan portfolio is well diversified between industries including office space which totals $116,400,000.

    Total deposits were $962,562,000 at December 31, 2024 compared to $1,009,693,000 at December 31, 2023, and decreased 4% compared to the prior quarter end. At December 31, 2024, noninterest bearing demand deposit accounts decreased 8% compared to a year ago and represented 19% of total deposits; savings, NOW and money market accounts decreased 9% compared to a year ago and represented 49% of total deposits, and CDs increased 4% compared to a year ago and comprised 32% of total deposits.

    Shareholders’ equity was $91,723,000 at December 31, 2024, compared to $100,662,000 three months earlier and $97,678,000 a year earlier. The decrease in shareholders’ equity compared to a year ago was due to a reduction in retained earnings. At December 31, 2024 book value was $13.53 per share, compared to $14.85 three months earlier, and $14.40 at December 31, 2023.

    The Bank’s Tier 1 Leverage ratio continues to exceed the minimum of 5% necessary to be categorized as “well-capitalized” for regulatory capital purposes. The Tier-1 leverage ratio at the end of 2024 was 8.87%, an increase compared to 8.85% at the end of 2023.

    Credit Quality

    “Our primary focus remains on managing asset quality and reducing portfolio risk,” said Reed. “To that end we charged off loans of $8,343,000 and recorded a $6,570,000 provision for credit losses to replenish reserves during the fourth quarter of 2024. Three credits represent 94% or $26,040,000 of our non performing loans and are “secured by farmland” which have been hit hard by the current environment. The Bank holds a small portion of its total loans in this industry and actively monitors the performance of these loans. Collateral relating to two of these three non performing loans is in contract to sell in the first half of 2025 and represents 65% or $18,010,000 of the non performing loan portfolio. The remaining non performing loans are being reserved at current appraisal value less selling cost.”

    Non performing assets were $32,191,000, or 3.02% of total assets, at December 31, 2024. This compared to $41,971,000 in non performing assets at September 30, 2024, and $44,206,000 in non performing assets at December 31, 2023. Non performing assets include $4,437,000 for one other real estate owned loan at December 31, 2024 and $5,130,000 at September 30, 2024, compared to no other real estate owned at December 31, 2023.

    There were $8,343,000 in net charge-offs during the three months ended December 31, 2024, compared to no charge-offs during the three months ended September 30, 2024 and net recoveries of $9,000 during the three months ended December 31, 2023.

    For the fourth quarter of 2024, consistent with factors within the allowance for credit losses model, the Bank recorded a $6,570,000 provision for credit loss expense for loans, a $154,000 provision for credit losses for unfunded loan commitments and a $2,000 reversal of credit losses on investments. This compared to a $31,000 reversal of credit loss expense on loans, a $65,000 reversal of credit losses on unfunded loan commitments and a $31,000 provision for credit losses on investments in the fourth quarter of 2023.

    The allowance for credit losses to total loans was 1.49% on December 31, 2024, and 1.60% on December 31, 2023. The decrease is due to $9,690,000 in loan charge-offs offset with a provision for credit losses on loans of $7,882,000 and $55,000 provision for credit losses on unfunded loan commitments recorded during the year ended December 31, 2024.

    About Summit State Bank

    Founded in 1982 and headquartered in Sonoma County, Summit State Bank is an award-winning community bank serving the North Bay. The Bank serves small businesses, nonprofits and the community, with total assets of $1.1 billion and total equity of $92 million as of December 31, 2024. The Bank has built its reputation over the past 40 years by specializing in providing exceptional customer service and customized financial solutions to aid in the success of its customers.

    Summit State Bank is committed to embracing the diverse backgrounds, cultures and talents of its employees to create high performance and support the evolving needs of its customers and community it serves. Through the engagement of its team, Summit State Bank has received many esteemed awards including: Top Performing Community Bank by American Banker, Best Places to Work in the North Bay and Diversity in Business by North Bay Business Journal, Corporate Philanthropy Award by the San Francisco Business Times, and Hall of Fame by North Bay Biz Magazine. Summit State Bank’s stock is traded on the Nasdaq Global Market under the symbol SSBI. Further information can be found at www.summitstatebank.com.

    Cautionary Note Regarding Preliminary Financial Results and Forward-looking Statements

    The financial results in this release are preliminary and unaudited. Final audited financial results and other disclosures will be reported in Summit State Bank’s annual report on Form 10-K for the period ended December 31, 2024 and may differ materially from the results and disclosures in this release due to, among other things, the completion of final review procedures, the occurrence of subsequent events or the discovery of additional information.

    Except for historical information, the statements contained in this release, are forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are non-historical statements regarding management’s expectations and beliefs about the Bank’s future financial performance and financial condition and trends in its business and markets. Words such as “expects,” “anticipates,” “believes,” “estimates” and similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could” are intended to identify such forward-looking statements. Examples of forward-looking statements include but are not limited to statements regarding future operating results, operating improvements, loans sales and resolutions, cost savings, insurance recoveries and dividends. The forward-looking statements in this release are based on current information and on assumptions about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond the Bank’s control. As a result of those risks and uncertainties, the Bank’s actual future results and outcomes could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this release. Those risks and uncertainties include, but are not limited to, the risk of incurring credit losses; the quality and quantity of deposits; the market for deposits, adverse developments in the financial services industry and any related impact on depositor behavior or investor sentiment; risks related to the sufficiency of the Bank’s liquidity; fluctuations in interest rates; governmental regulation and supervision; the risk that the Bank will not maintain growth at historic rates or at all; general economic conditions, either nationally or locally in the areas in which the Bank conducts its business; risks associated with changes in interest rates, which could adversely affect future operating results; the risk that customers or counterparties may not performance in accordance with the terms of credit documents or other agreements due a decline in credit worthiness, business conditions or other reasons;; adverse conditions in real estate markets; and the inherent uncertainty of expectations regarding litigation, insurance claims and the performance or resolution of loans. Additional information regarding these and other risks and uncertainties to which the Bank’s business and future financial performance are subject is contained in the Bank’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other documents the Bank files with the FDIC from time to time. Readers should not place undue reliance on the forward-looking statements, which reflect management’s views only as of the date of this release. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

    1Non-GAAP Financial Measures

    This release contains non-GAAP (Generally Accepted Accounting Principles) financial measures in addition to the results presented in accordance with GAAP. These Non-GAAP financial measures include pre-tax, pre-provision net operating income before goodwill, pre-tax, pre-provision return on average assets before goodwill (“ROAA”), and pre-tax, pre-provision return on average equity (“ROAE”) before goodwill. We believe the presentation of these non-GAAP financial measures, provides useful information to assess our consolidated financial condition and consolidated results of operations and to assist investors in evaluating our financial results relative to our history results and those of our peers.

    Not all companies use identical calculations or the same definitions of pre-tax, pre-provision net operating income before goodwill, pre-tax, pre-provision ROAA before goodwill and pre-tax, pre-provision ROAE before goodwill, so the presentation of these non-GAAP financial measures may not be comparable to other similarly titled measures used by other companies. These non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. These non-GAAP financial measures should be taken together with the corresponding GAAP measure and should not be considered a substitute for the GAAP measure. Reconciliations of the most directly comparable GAAP measures to these non-GAAP financial measurements are presented below.

    Contact: Brian Reed, President and CEO, Summit State Bank (707) 568-4908

                             
            Three Months Ended
                             
            December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
            (In thousands)
    Reconciliation of non-GAAP pre-tax, pre-provision income net of goodwill
                             
    Net (loss) income       $ (7,142 )   $ 626     $ 928     $ 1,395     $ 1,901  
    Excluding provision for (reversal of) credit losses   6,722       1,294       (16 )     (85 )     (65 )
    Excluding (reversal of) provision for income taxes   (1,398 )     202       355       645       807  
    Pre-tax, pre-provision income (non-GAAP) $ (1,818 )   $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Excluding goodwill impairment         4,119       –       –       –       –  
    Pre-tax, pre-provision income net of goodwill (non-GAAP) $ 2,301     $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                       
       
                             
                             
            Three Months Ended
                             
            December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
            (In thousands)
    Reconciliation of non-GAAP return on average assets
                             
    Average assets       $ 1,098,885     $ 1,098,469     $ 1,078,700     $ 1,087,960     $ 1,123,057  
    (Loss) return on average assets (1)         -2.59 %     0.23 %     0.35 %     0.51 %     0.67 %
                             
    Net (loss) income       $ (7,142 )   $ 626     $ 928     $ 1,395     $ 1,901  
    Excluding provision for (reversal of) credit losses   6,722       1,294       (16 )     (85 )     (65 )
    Excluding (reversal of) provision for income taxes   (1,398 )     202       355       645       807  
    Pre-tax, pre-provision income (non-GAAP) $ (1,818 )   $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Excluding goodwill impairment         4,119       –       –       –       –  
    Pre-tax, pre-provision income net of goodwill (non-GAAP) $ 2,301     $ 2,122     $ 1,267       $ 1,955       $ 2,643  
                             
    Adjusted return on average assets (non-GAAP) (1)   0.83 %     0.77 %     0.47 %     0.72 %     0.93 %
                             
    (1) Annualized.                
                             
            Three Months Ended
                             
            December 31, 2024   September 30, 2024   June 30, 2024   March 31, 2024   December 31, 2023
            (In thousands)
    Reconciliation of non-GAAP return on average shareholders’ equity
                             
    Average shareholders’ equity       $ 101,307     $ 99,962     $ 97,548     $ 97,471     $ 94,096  
    (Loss) return on average shareholders’ equity (1)   -28.05 %     2.48 %     3.82 %     5.74 %     8.02 %
                             
    Net (loss) income       $ (7,142 )   $ 626     $ 928     $ 1,395     $ 1,901  
    Excluding provision for (reversal of) credit losses   6,722       1,294       (16 )     (85 )     (65 )
    Excluding (reversal of) provision for income taxes   (1,398 )     202       355       645       807  
    Pre-tax, pre-provision income (non-GAAP) $ (1,818 )   $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Excluding goodwill impairment         4,119       –       –       –       –  
    Pre-tax, pre-provision income net of goodwill (non-GAAP) $ 2,301     $ 2,122     $ 1,267     $ 1,955     $ 2,643  
                             
    Adjusted return on average shareholders’ equity (non-GAAP) (1)   9.04 %     8.42 %     5.21 %     8.04 %     11.14 %
                             
    (1) Annualized.                
                     
                           
    SUMMIT STATE BANK
    STATEMENTS OF INCOME
    (In thousands except earnings per share data)
                           
                           
              Three Months Ended   Year Ended
              December 31, 2024   December 31, 2023   December 31, 2024   December 31, 2023
              (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                           
    Interest and dividend income:              
      Interest and fees on loans $ 13,623     $ 13,409     $ 53,574     $ 52,560  
      Interest on deposits with banks   655       792       2,060       4,410  
      Interest on investment securities   530       712       2,614       2,855  
      Dividends on FHLB stock   127       123       514       416  
          Total interest and dividend income   14,935       15,036       58,762       60,241  
    Interest expense:              
      Deposits     7,099       7,113       28,495       24,227  
      Federal Home Loan Bank advances   6       –       337       177  
      Junior subordinated debt   128       94       454       375  
          Total interest expense   7,233       7,207       29,286       24,779  
          Net interest income before provision for credit losses   7,702       7,829       29,476       35,462  
    Provision for (reversal of) credit losses on loans   6,570       (31 )     7,882       342  
    Provision for (reversal of) credit losses on unfunded loan commitments   154       (65 )     55       (68 )
    (Reversal of) provision for credit losses on investments   (2 )     31       (22 )     58  
          Net interest income after provision for (reversal of) credit              
            losses, unfunded loan commitments and investments   980       7,894       21,561       35,130  
    Non-interest income:              
      Service charges on deposit accounts   225       219       926       872  
      Rental income   61       54       241       193  
      Net gain on loan sales   857       –       2,114       2,481  
      Net gain on securities   6       –       6       –  
      Net loss on other real estate owned   (693 )     –       (693 )     –  
      FHLB prepayment fee   –       –       –       1,024  
      Other income   224       24       865       631  
          Total non-interest income   680       297       3,459       5,201  
    Non-interest expense:              
      Salaries and employee benefits   3,429       3,044       15,639       15,399  
      Occupancy and equipment   413       386       1,761       1,713  
      Goodwill impairment   4,119       –       4,119       –  
      Other expenses   2,239       2,053       7,889       7,938  
          Total non-interest expense   10,200       5,483       29,408       25,050  
          (Loss) income before provision for income taxes   (8,540 )     2,708       (4,388 )     15,281  
    (Reversal of) provision for income taxes   (1,398 )     807       (195 )     4,459  
          Net (loss) income $ (7,142 )   $ 1,901     $ (4,193 )   $ 10,822  
                           
    Basic (loss) earnings per common share $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
    Diluted (loss) earnings per common share $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
                           
    Basic weighted average shares of common stock outstanding   6,719       6,698       6,714       6,695  
    Diluted weighted average shares of common stock outstanding   6,719       6,698       6,714       6,698  
                                   
       
    SUMMIT STATE BANK  
    BALANCE SHEETS  
    (In thousands except share data)  
                   
            December 31, 2024   December 31, 2023  
            (Unaudited)   (Unaudited)  
                   
    ASSETS        
                   
    Cash and due from banks $ 51,403   $ 57,789  
          Total cash and cash equivalents   51,403     57,789  
                   
    Investment securities:        
      Available-for-sale, less allowance for credit losses of $36 and $58        
        (at fair value; amortized cost of $80,887 in 2024 and $97,034 in 2023)   68,228     84,546  
                   
    Loans, less allowance for credit losses of $13,693 in 2024 and $15,221 in 2023   905,075     938,626  
    Bank premises and equipment, net   5,155     5,316  
    Investment in Federal Home Loan Bank (FHLB) stock, at cost   5,889     5,541  
    Goodwill     –     4,119  
    Other real estate owned   4,437     –  
    Affordable housing tax credit investments   7,413     8,405  
    Accrued interest receivable and other assets   19,494     18,166  
                   
          Total assets $ 1,067,094   $ 1,122,508  
                   
    LIABILITIES AND        
    SHAREHOLDERS’ EQUITY        
                   
    Deposits:          
      Demand – non interest-bearing $ 185,756   $ 201,909  
      Demand – interest-bearing   193,355     244,748  
      Savings   47,235     54,352  
      Money market   226,879     212,278  
      Time deposits that meet or exceed the FDIC insurance limit   70,717     63,159  
      Other time deposits   238,620     233,247  
          Total deposits   962,562     1,009,693  
                   
    FHLB advances   –     –  
    Junior subordinated debt, net   5,935     5,920  
    Affordable housing commitment   511     4,094  
    Accrued interest payable and other liabilities   6,363     5,123  
                   
          Total liabilities   975,371     1,024,830  
                   
          Total shareholders’ equity   91,723     97,678  
                   
          Total liabilities and shareholders’ equity $ 1,067,094   $ 1,122,508  
                   
     
    Financial Summary
    (In thousands except per share data)
                     
        As of and for the   As of and for the
        Three Months Ended   Year Ended
        December 31, 2024   December 31, 2023   December 31, 2024   December 31, 2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    Statement of Income Data:                
    Net interest income   $ 7,702     $ 7,829     $ 29,476     $ 35,462  
    Provision for (reversal of) credit losses on loans     6,570       (31 )     7,882       342  
    Provision for (reversal of) credit losses on unfunded loan commitments   154       (65 )     55       (68 )
    (Reversal of) provision for credit losses on investments     (2 )     31       (22 )     58  
    Non-interest income     680       297       3,459       5,201  
    Non-interest expense     10,200       5,483       29,408       25,050  
    (Reversal of) provision for income taxes     (1,398 )     807       (195 )     4,459  
    Net (loss) income   $ (7,142 )   $ 1,901     $ (4,193 )   $ 10,822  
                     
    Selected per Common Share Data:                
    Basic (loss) earnings per common share   $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
    Diluted (loss) earnings per common share   $ (1.06 )   $ 0.28     $ (0.62 )   $ 1.62  
    Dividend per share   $ –     $ 0.12     $ 0.28     $ 0.48  
    Book value per common share (1)   $ 13.53     $ 14.40     $ 13.53     $ 14.40  
                     
    Selected Balance Sheet Data:                
    Assets   $ 1,067,094     $ 1,122,508     $ 1,067,094     $ 1,122,508  
    Loans, net     905,075       938,626       905,075       938,626  
    Deposits     962,562       1,009,693       962,562       1,009,693  
    Average assets     1,098,885       1,123,057       1,091,045       1,142,790  
    Average earning assets     1,064,872       1,089,808       1,058,766       1,110,801  
    Average shareholders’ equity     101,307       94,096       99,080       93,621  
    Nonperforming loans     27,754       44,206       27,754       44,206  
    Other real estate owned     4,437       –       –       –  
    Total nonperforming assets     32,191       44,206       32,191       44,206  
                     
    Selected Ratios:                
    (Loss) return on average assets (2)     -2.59 %     0.67 %     -0.38 %     0.95 %
    (Loss) return on average shareholders’ equity (2)     -28.05 %     8.02 %     -4.23 %     11.56 %
    Efficiency ratio (3)     121.78 %     67.47 %     89.31 %     61.60 %
    Net interest margin (2)     2.88 %     2.85 %     2.78 %     3.19 %
    Common equity tier 1 capital ratio     10.14 %     9.90 %     10.14 %     9.90 %
    Tier 1 capital ratio     10.14 %     9.90 %     10.14 %     9.90 %
    Total capital ratio     11.89 %     11.75 %     11.89 %     11.75 %
    Tier 1 leverage ratio     8.87 %     8.85 %     8.87 %     8.85 %
    Common dividend payout ratio (4)     0.00 %     42.63 %     -45.20 %     30.05 %
    Average shareholders’ equity to average assets     9.22 %     8.38 %     9.08 %     8.19 %
    Nonperforming loans to total loans     3.02 %     4.63 %     3.02 %     4.63 %
    Nonperforming assets to total assets     3.02 %     3.94 %     3.02 %     3.94 %
    Allowance for credit losses to total loans     1.49 %     1.60 %     1.49 %     1.60 %
    Allowance for credit losses to nonperforming loans     49.34 %     34.43 %     49.34 %     34.43 %
             
    (1) Total shareholders’ equity divided by total common shares outstanding.        
    (2) Annualized.        
    (3) Non-interest expenses to net interest and non-interest income, net of securities gains.            
    (4) Common dividends divided by net (loss) income available for common shareholders.        
             

    The MIL Network –

  • MIL-OSI USA: Congressman Garamendi, IAM Union Join Together at Mare Island to Call for Revitalization of U.S. Shipbuilding Industry

    Source: US GOIAM Union

    VALLEJO, Calif. – Today, U.S. Rep. John Garamendi joined the IAM Union (International Association of Machinists and Aerospace Workers) at a press conference at the Mare Island Dry Dock, where they called for a revitalization of the U.S. shipbuilding industry.   

    See photos from the event here.

    Watch the full press conference here.

    “Today, I am honored to stand with American U.S. shipbuilding and maritime industry workers as they fight the heavily subsidized foreign shipyards and unfair trade practices of the People’s Republic of China. American shipbuilders have been hampered by unfair trade practices by the Chinese government. While I’m glad that the federal government is stepping up, more must be done to protect our workers and national security. This is why I, alongside Senator Mark Kelly, Senator Todd Young, and Representative Trent Kelly, introduced the SHIPS for America Act, representing the most substantial and comprehensive approach to rebuilding America’s shipbuilding industry and empowering American workers. American workers in commercial shipyards are essential to supporting our economy and national security. I applaud the IAM and other union representatives as they continue fighting for American shipbuilding jobs,” U.S. Rep. John Garamendi (D-Calif.)  

     “Since 2001, when the Chinese Communist Party (CCP) labeled shipbuilding as a ‘strategic industry,’ there has been a laundry list of China’s unfair, unreasonable, and discriminatory practices. While we support the USTR’s actions so far, more must be done to assure the long-term health of the domestic shipbuilding industry and U.S. economic and national security. Our IAM Union members are ready to build and maintain our 21st century naval and commercial fleet and we remain steadfast in our devotion to that goal.” said IAM Eastern Territory General Vice President David Sullivan.   

    “I’m proud to lead California’s greatest and most historic shipyards, and I stand by the IAM in their fight to revitalize the U.S. Maritime Industry. The contributions of our shipyard workers are the reason for the success of our shipyard, and right now, they are hampered by unfair trade practices by the Chinese government – this must stop. I stand by the IAM Union and Congressman John Garamendi in their fight to uplift and grow our industry,” said Mare Island Dry Dock CEO Stephen DiLeo.     

    “IAM is on the front lines in U.S.’s fight against China’s unfair trade practices and I’m proud to help lead that fight with my entire union by my side. Unions like the IAM aren’t only critical for California’s economy, they are essential in supporting our national economy. Shipyards were once the main path to the middle class; after years of divestment, we can all work together to turn the tide and bring our shipyards back to their past glory,” said IAM Local S25 Chief Steward Kyle March.   

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    MIL OSI USA News –

  • MIL-OSI USA: Senator Hassan Statement on Trump Administration’s Move to Attack Collective Bargaining Rights for Many Federal Workers

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan

    WASHINGTON – Today, U.S. Senator Maggie Hassan issued the following statement in response to the Trump Administration’s announcement that it is unilaterally ending collective bargaining for many hard-working employees across the federal government:

    “When unions can engage in collective bargaining, the middle class grows. The President could spend his time on efforts to lower costs for families. Instead, he keeps attacking the hard-working federal employees, many of whom are veterans, who provide critical services and keep Americans safe. It’s wrong, and it can’t stand.”

    Approximately 30 percent of federal employees are veterans. Senator Hassan helped introduce the Protecting the Right to Organize (PRO) Act, which strengthens federal laws that protect workers’ right to join a union and bargain for higher wages and better benefits.

    MIL OSI USA News –