Category: Politics

  • MIL-OSI Global: How different people around the world understand democracy – and why it matters

    Source: The Conversation – UK – By Scott Williamson, Associate Professor, Department of Politics and International Relations, University of Oxford

    Most people in most countries say they want to be governed democratically. Because democracy’s appeal is so powerful, governments and political leaders everywhere claim to be supporters of democracy.

    Take China, for instance. The Chinese Communist Party (CCP) has ruled for decades under a single-party system, a system that contrasts sharply with traditional definitions of democracy. Democratic systems emphasise competitive elections for key leaders, strong protections for political rights and constraints on executive power.

    Yet, ask members of the CCP and they will probably tell you that their governance is democratic because it responds to the preferences of the Chinese public. In their view, what makes a democracy is not elections, liberties and constraints. Rather, strong and unencumbered political leaders can govern well and give the people what they want.

    How do people understand democracy? If people around the world hold dramatically different views of what democracy means – or even adhere to understandings of democracy that reflect a more authoritarian style of government – then democracy’s apparent global appeal may not mean very much in practice.

    Researchers have long been interested in how people from different countries and backgrounds understand democracy. But it’s a complex issue and previous studies have found it difficult to determine what people really mean when they say they want to be governed democratically. In a new article published in Science, we use an experiment administered via surveys in Egypt, India, Italy, Japan, Thailand and the US to bring fresh evidence to this debate.

    We presented survey respondents with paired profiles of hypothetical countries. These profiles randomised nine factors reflecting different theories of how people understand democracy. For instance, we presented respondents with information about the countries’ elections, varying whether they were free and fair, biased, or not held at all.

    We also randomised whether political rights were protected or repressed, and whether the executive respected the powers of the legislature and courts or not. These three attributes reflect traditional concepts of democracy.

    We also included attributes of the hypothetical countries that reflect alternative understandings of democracy. Some claim that democracy means a political system capable of producing substantial changes that benefit citizens broadly. So we varied whether economic equality in the country is higher or lower. We also adjusted whether social equality between genders is better or worse. And we randomised how much influence technocratic experts wield over policy decisions.

    Others argue for a more authoritarian model of democracy in which unconstrained leaders give the people what they want in exchange for their obedience. To reflect this view, we gave information about how often the countries’ political leaders follow the majority’s preferences. We also varied whether people obey the government or not.

    After reviewing the country profiles, respondents were asked to determine which hypothetical country was more democratic. Analysing which attributes influenced respondents’ choices more strongly gives us insights into how they understand what democracy means.

    Reasons to be cheerful

    Our results indicate that the traditional definition of democracy is widely accepted. Across the six diverse countries in our sample, respondents were much more likely to perceive countries as democratic when elections were free and fair and political rights were strongly protected.

    This prioritisation of elections held across the board. People felt that way regardless of their individual characteristics such as gender, educational attainment, political ideology, age, minority status and attitudes toward geopolitics.

    This finding implies some reasons to be optimistic about support for democracy. It suggests that when people say they want democratic governance, many mean competitive elections and protected liberties. This agreement is important. It makes it more likely that enough people will recognise – and potentially push back – against attempts by anti-democratic political leaders to subvert democratic governance.

    Reasons for caution

    But our findings also highlight points of caution. First, institutional checks and balances were less central to how our respondents understood democracy. This suggests that political leaders may be able to increase their grip on power more easily by undermining the influence of the legislature and courts.

    And anti-democratic politicians can still claim to be democratic by deceptively arguing that they prioritise these elements of the political system, while actually undermining them. A prominent example is former US president Donald Trump. In 2020, Trump tried to overturn his election loss by falsely asserting it had been rigged against him.

    Even in outright authoritarian countries, rulers often use controlled elections as “evidence” of their democratic character. In Egypt, for instance, the autocratic president Abdel Fatah al-Sisi declared after winning his rigged 2023 election that he would continue to build “a democratic state that protects its citizens”.

    Many people may see through such claims, but autocrats can sometimes build support by using elections to present themselves as democrats – even when they are not free and fair.

    While many people reject outright authoritarian notions of what democracy means, factors other than elections and liberties also influence their understanding of democratic governance. In our study, countries were often believed to be more democratic when they delivered good outcomes – for example, by providing higher gender or economic equality.

    Gender equality was the only attribute in the experiment which came close to elections and liberties in its ability to shape perceptions of which countries were more democratic. Because gender equality is inherently desirable and is associated with democracy, some autocrats have successfully engaged in “genderwashing”. They’ve done this by (often nominally) reforming women’s rights to reduce pressure for more competitive elections and protected political rights.

    Finally, just because people generally agree on what democracy means does not necessarily mean they will continue to support it. If democracies fail to perform effectively or represent their citizens well, people may be persuaded to accept more authoritarian models of governance.

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

    ref. How different people around the world understand democracy – and why it matters – https://theconversation.com/how-different-people-around-the-world-understand-democracy-and-why-it-matters-241617

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: ESFA Update: 23 October 2024

    Source: United Kingdom – Executive Government & Departments

    Latest information and actions from the Education and Skills Funding Agency for academies, schools, colleges, local authorities and further education providers.

    Applies to England

    Documents

    Details

    Latest for further education

    Article Title
    Action The further education workforce data collection is now open
    Information Targeted retention incentive applications are now open
    Information National professional qualification targeted support funding 2023 to 2024 allocations
    Information Further Education Condition Data Collection 2
    Information 16 to 19 and adult revenue funding allocations for 2024 to 2025
    Reminder Final funding claim submission for 2023 to 2024 by Friday 25 October 2024

    Latest information for academies

    Article Title
    Information Targeted retention incentive applications are now open
    Information National professional qualification targeted support funding 2023 to 2024 allocations
    Information 16 to 19 and adult revenue funding allocations for 2024 to 2025
    Information New digital format for the general annual grant statement
    Information Academy trust management accounting good practice guide
    Information PE and sport premium allocations and conditions of grant for 2024 to 2025 academic year
    Events and webinars Mock trial – risk protection arrangement (RPA) members only
    Events and webinars Academy finance professionals national power hour with guest speaker Minister McKinnell

    Latest information for local authorities

    Article Title
    Action The further education workforce data collection is now open
    Information National professional qualification targeted support funding 2023 to 2024 allocations
    Information Copyright licences for schools
    Information 16 to 19 and adult revenue funding allocations for 2024 to 2025
    Information Update on the 2024 autumn term early years data collection
    Information PE and sport premium allocations and conditions of grant for 2024 to 2025 academic year
    Reminder Final funding claim submission for 2023 to 2024 by Friday 25 October 2024
    Events and webinars Mock trial – risk protection arrangement (RPA) members only

    Updates to this page

    Published 23 October 2024

    Sign up for emails or print this page

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Isle of Wight the most successful area with Warmer Homes scheme 23 October 2024 Warmer Homes

    Source: Aisle of Wight

    A government funded scheme allowing eligible Island residents to apply for free upgrades to make their homes more energy efficient has been the most successful in our region.

    Upgrades are worth up to £38,000 per household and could include insulation, air source heat pumps and solar PV panels which can be installed for free, saving households thousands of pounds in the future. The eligibility criteria includes,

    • You use electric, oil or LPG to heat your home, not mains gas
    • Your Energy Performance Certificate (EPC) rating is D, E, F, or G (Warmer Homes can help you find out if you’re not sure).
    • You have a household income of £36,000 or under, or you or you receive a means-tested benefit.

    The Isle of Wight Council was among a group of 23 local authorities to successfully bid for £41.4 million in government funding. The money comes from the Home Upgrade Grant and aims to help lower income households whose home is not very energy efficient and not heated by mains gas.

    Councillor Phil Jordan, council leader, said: “We are really pleased that eligible Isle of Wight residents have taken up the Warmer Homes scheme more than anywhere else in the southern region. This is testament to the work we have done to ensure that those who can claim this help have been targeted. We have produced a campaign to included social media and radio ads as well as working closely with our partners to promote the scheme to those eligible residents.’’

    He continues ‘’Improving energy efficiency in homes is a key issue. Energy bills are a major concern for many households so anything that can be done to reduce these costs is vital. Making homes more energy efficient at the same time helps to reduce carbon emissions across the Island.”

    Katherine Shadwell, Project Manager, AgilityEco said: “We are proud to be supporting the Isle of Wight Council with their delivery of the Warmer Homes scheme. Since 2023, the Warmer Homes scheme has supported Isle of Wight residents with a range of fully funded energy-saving home improvements to help keep their homes warm and their energy bills low. Since the Warmer Homes scheme has been introduced to the Island, we have supported over 120 homes with over £2.5 million of fully funded energy-saving measures.”

    The scheme has now been extended by a further month and the application deadline for residents is now the end of November (31/11/2024).

    More information can be found on the Isle of Wight Council website by visiting The Warmer Homes programme

    You can also call the freephone number on 0800 038 5737 or email: retrofit@warmerhomes.org.uk for further information and guidance.

    MIL OSI United Kingdom

  • MIL-OSI Russia: Representatives of the Don youth gathered at the State University of Management

    Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On October 23, the Second Forum of Don Youth “Don Land – Your Future” was held at the State University of Management. It was organized by the ROO “Fellowship of Rostovites “Donskaya Stanitsa” in Moscow with the support of the State University of Management.

    The forum was opened by the honorary chairman of the Zemlyachestvo, adviser to the mayor of Moscow, professor of the department of state and municipal management of the State University of Management Vladimir Zotov, who congratulated those gathered on the new meeting:

    “You came here and gathered together – this is a holiday. We are all united by love for our small homeland. Special thanks to the State University of Management, which is hosting us within its walls for the second time. This is one of the best management universities in Russia. This year it turned 105 years old, it has a huge potential of scientific schools, a powerful base and a convenient campus. Today we will talk about the profession and education, share experiences, tell about our first steps and give advice.”

    State Duma Deputy from Rostov Oblast Larisa Tutova addressed the audience with a welcoming speech:

    “I understand that many people who come to Moscow see a career that is not connected to their native region. But I want us to think about our homeland even when we are here and perhaps return there. The authorities of the Rostov region do a lot for young people, provide favorable conditions to start a career, it is enough to remember the unique program “Mortgage for excellent students”, which operates in our native region. We are fellow countrymen, and we must help each other, wherever we are. Strength is in unity, and wealth is in diversity.”

    Advisor to the rector’s office of the State University of Management, member of the Rostov community Sergei Chuev noted the importance of love for one’s native land.

    “The State University of Management was chosen as the venue for our forum for a reason. There are employees from the Rostov Region here, many students, it was here that the Governor of the Rostov Region Vasily Golubev studied and it was here that he met his wife. Even now I have not become a Muscovite, I position myself as a Rostovite in Moscow. The State University of Management is ready to train and find future jobs in different regions of the country, and today the employers gathered here will show that there is life after the Moscow Ring Road,” shared Sergey Vladimirovich.

    Also on stage were veterans of the community, the president of the Moscow regional branch of the International Police Association, police lieutenant general Ivan Sardak and the general director of MP Svyaz, Volgodonsk Telecom LLC in 1993-2011 Nikolai Sungurov, who shared their experience of professional activity and once again emphasized that “the small homeland is the most sacred thing.”

    The meeting program continued with a plenary session entitled “Young Specialists – the Core of Regional Development” and a job and internship fair, where Rostov enterprises such as PJSC UAC, OJSC Pipe Metallurgical Company, JSC Doraerodorstroy, JSC Russian Helicopters, and PJSC KB Center-Invest were represented.

    At the end of the meeting, the participants were presented with certificates and a group photo was taken.

    Subscribe to the TG channel “Our GUU” Date of publication: 23.10.2024

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

    MIL OSI Russia News

  • MIL-OSI: Blue Foundry Bancorp Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    RUTHERFORD, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) — Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $4.0 million, or $0.19 per diluted common share, for the three months ended September 30, 2024, compared to net loss of $2.3 million, or $0.11 per diluted common share, for the three months ended June 30, 2024, and a net loss of $1.4 million, or $0.06 per diluted common share, for the three months ended September 30, 2023.

    James D. Nesci, President and Chief Executive Officer, commented, “The Company continues to maintain its strong capital position and access to liquidity. We executed on our share repurchase program and increased our tangible book value to $14.74 per share.”

    Mr. Nesci also noted, “Deposit growth continued in the third quarter. Increases in our construction and commercial and industrial portfolios drove loan growth during the third quarter as we remain focused on growing our commercial portfolio. Credit quality remained strong highlighted by a 17% improvement in non-performing loans. Our 84 basis point allowance for credit losses now covers non-performing loans by over 2.5 times.”

    Highlights for the third quarter of 2024:

    • Deposits increased $7.5 million to $1.32 billion compared to the prior quarter.
    • Uninsured deposits to third-party customers totaled approximately 12% of total deposits as of September 30, 2024.
    • Interest income for the quarter was $21.5 million, an increase of $240 thousand, or 1.1%, compared to the prior quarter.
    • Interest expense for the quarter was $12.4 million, an increase of $726 thousand, or 6.2%, compared to the prior quarter.
    • Net interest margin decreased 14 basis points from the prior quarter to 1.82%.
    • Provision for credit losses of $248 thousand was primarily due to the increase in unused lines of credit partially offset by releases of provision for loans of $5 thousand and for securities of $11 thousand.
    • Book value per share was $14.76 and tangible book value per share was $14.74. See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    • 521,685 shares were repurchased under our share repurchase plans at a weighted average share price of $10.52 per share.

    Loans

    The Company continues to focus on diversifying its lending portfolio by growing its commercial portfolios. While total loans decreased by $9.7 million during the first nine months of 2024, our construction portfolio increased by $19.7 million and our commercial real estate portfolio increased by $9.2 million, of which $7.1 million was on owner-occupied properties. In addition, our consumer and other loans increased by $7.7 million as we took advantage of an opportunity to participate in a consumer loan participation at an attractive rate with credit enhancements. The residential and multifamily portfolios decreased by $34.2 million and $16.3 million, respectively.

    The details of the loan portfolio are below:

        September 30,
    2024
      June 30,
    2024
      March 31,
    2024
      December 31,
    2023
      September 30,
    2023
        (In thousands)
    Residential   $ 516,754   $ 526,453   $ 540,427   $ 550,929   $ 567,384
    Multifamily     666,304     671,185     671,011     682,564     689,966
    Commercial real estate     241,711     241,867     244,207     232,505     236,325
    Construction     80,081     71,882     63,052     60,414     45,064
    Junior liens     24,174     23,653     22,052     22,503     22,297
    Commercial and industrial     14,228     12,261     13,372     11,768     9,904
    Consumer and other     7,731     83     56     47     50
    Total loans     1,550,983     1,547,384     1,554,177     1,560,730     1,570,990
    Less: Allowance for credit losses     13,012     13,027     13,749     14,154     13,872
    Loans receivable, net   $ 1,537,971   $ 1,534,357   $ 1,540,428   $ 1,546,576   $ 1,557,118
                                   

    Deposits

    As of September 30, 2024, deposits totaled $1.32 billion, an increase of $73.8 million, or 5.93%, from December 31, 2023, mostly due to the increases of $104.6 million in time deposits partially offset by decreases in savings, non-interest bearing deposits and NOW and demand accounts of $21.8 million, $5.5 million and $3.6 million, respectively. The Company’s strategy is to focus on attracting the full banking relationship of small- to medium-sized businesses through an extensive suite of deposit products. While there is strong competition for deposits in the northern New Jersey market, we were able to increase customer deposits during the quarter. Brokered deposits remain unchanged since year end 2023.

    The details of deposits are below:

        September 30,
    2024
      June 30,
    2024
      March 31,
    2024
      December 31,
    2023
      September 30,
    2023
        (In thousands)
    Non-interest bearing deposits   $ 22,254   $ 24,733   $ 25,342   $ 27,739   $ 23,787
    NOW and demand accounts     357,503     368,386     373,172     361,139     378,268
    Savings     237,651     246,559     250,298     259,402     278,665
    Core deposits     617,408     639,678     648,812     648,280     680,720
    Time deposits     701,262     671,478     642,372     596,624     572,384
    Total deposits   $ 1,318,670   $ 1,311,156   $ 1,291,184   $ 1,244,904   $ 1,253,104
                                   

    Financial Performance Overview:

    Third quarter of 2024 compared to the second quarter of 2024

    Net interest income compared to the second quarter of 2024:

    • Net interest income was $9.1 million for the three months ended September 30, 2024 compared to $9.6 million for the second quarter of 2024 as the increase in interest paid on interest-bearing liabilities outpaced the increase in interest received on interest-earning assets.
    • Net interest margin decreased by 14 basis points to 1.82%.
    • The yield on average interest-earning assets decreased five basis points to 4.32%, while the cost of average interest-bearing liabilities increased nine basis points to 3.03%.
    • Average interest-earning assets increased by $20.9 million and average interest-bearing liabilities increased by $29.3 million.

    Non-interest income compared to the second quarter of 2024:

    • Non-interest income decreased $149 thousand primarily due the absence of the gain of $123 thousand on the sale of REO property, which was recorded in the second quarter.

    Non-interest expense compared to the second quarter of 2024:

    • Non-interest expense increased $52 thousand primarily driven by increases in professional fees, data processing expense and FDIC insurance premiums of $190 thousand, $77 thousand and $42 thousand, respectively, partially offset by decreases of $329 thousand in compensation and benefits expenses and $32 thousand in occupancy and equipment.

    Income tax expense compared to the second quarter of 2024:

    • The Company did not record a tax benefit for the losses incurred during the third quarter of 2024 and the second quarter of 2024 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At September 30, 2024, the valuation allowance on deferred tax assets was $22.2 million.

    Third quarter of 2024 compared to the third quarter of 2023

    Net interest income compared to the third quarter of 2023:

    • Net interest income was $9.1 million for the three months ended September 30, 2024 compared to $9.9 million for the same period in 2023. The decrease was largely due to increases in rates paid on interest-bearing liabilities, which outpaced rates received on interest-earning assets.
    • Net interest margin decreased by 12 basis points to 1.82%.
    • The yield on average interest-earning assets increased 35 basis points to 4.32%, while the cost of average interest-bearing liabilities increased 54 basis points to 3.03%.
    • Average interest-earning assets decreased by $32.6 million and average interest-bearing liabilities decreased by $4.1 million. Average FHLB advances decreased by $48.3 million, while average interest-bearing deposits increased by $44.1 million.

    Non-interest expense compared to the third quarter of 2023:

    • Non-interest expense was $13.3 million, an increase of $873 thousand driven by increases of $666 thousand, $167 thousand and $126 thousand in compensation and benefits expenses, professional services and occupancy and equipment expenses, respectively, partially offset by decreases of $61 thousand in data processing and $27 thousand in FDIC insurance premiums.

    Income tax expense compared to the third quarter of 2023:

    • The Company did not record a tax benefit for the losses incurred during the third quarters of 2024 and 2023 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At September 30, 2024, the valuation allowance on deferred tax assets was $22.2 million.

    Nine Months Ended September 30, 2024 compared to the nine months ended September 30, 2023

    Net interest income compared to the nine months ended September 30, 2023:

    • Net interest income was $28.1 million, a decrease of $4.6 million.
    • Net interest margin decreased 28 basis points to 1.90%.
    • The yield on average interest-earning assets increased 39 basis points to 4.30% while the cost of average interest-bearing liabilities increased 78 basis points to 2.93%.
    • Average interest-earning assets decreased by $39.1 million and average interest-bearing deposits increased by $37.0 million.
    • Average borrowings decreased by $43.3 million.

    Non-interest income compared to the nine months ended September 30, 2023:

    • Non-interest income increased $141 thousand primarily due to the gain on the sale of REO property during the second quarter of 2024.

    Non-interest expense compared to the nine months ended September 30, 2023:

    • Non-interest expense was $39.7 million, an increase of $705 thousand.
    • Compensation and benefits expense increased by $938 thousand and occupancy and equipment costs increased by $474 thousand. These increases were partially offset by decreases of $475 thousand and $224 thousand for data processing expense and fees for professional services, respectively.

    Income tax expense compared to the nine months ended September 30, 2023:

    • The Company did not record a tax benefit for the losses incurred during the nine months ended September 30, 2024 and 2023 due to the full valuation allowance required on its deferred tax assets.
    • The Company’s current tax position reflects the previously established full valuation allowance on its deferred tax assets. At September 30, 2024, the valuation allowance on deferred tax assets was $22.2 million.

    Balance Sheet Summary:

    September 30, 2024 compared to December 31, 2023

    Cash and cash equivalents:

    • Cash and cash equivalents increased $30.1 million to $76.1 million.

    Securities available-for-sale:

    • Securities available-for-sale increased $7.0 million to $290.8 million due to the decrease in unrealized losses of $7.8 million. The favorable impact of the change in the unrealized loss position was partially offset as maturities, calls and paydowns outpaced purchases during the period.

    Other investments:

    • Other investments decreased $2.1 million due to a decrease in FHLB stock as a result of a reduction in FHLB borrowings.

    Total loans:

    • Total loans held for investment decreased $9.7 million to $1.55 billion.
    • Residential loans and multifamily loans decreased $34.2 million and $16.3 million, respectively, partially offset by increases in construction loans of $19.7 million, commercial real estate loans of $9.2 million and consumer loans of $7.7 million to further diversify our loan portfolio.
    • The Company purchased a consumer loan participation of $8.0 million and residential loans totaling $7.8 million during the third quarter.

    Deposits:

    • Deposits totaled $1.32 billion, an increase of $73.8 million from December 31, 2023. This was largely the result of a $104.6 million increase in certificate of deposits.
    • Core deposits (defined as non-interest bearing checking, NOW and demand accounts and savings accounts) represented 46.8% of total deposits, compared to 52.1% at December 31, 2023.
    • Brokered deposits totaled $125.0 million at both September 30, 2024 and December 31, 2023.
    • Uninsured and uncollateralized deposits to third-party customers were $159.6 million, or 12% of total deposits, at the end of the third quarter.

    Borrowings:

    • FHLB borrowings decreased $49.0 million to $348.5 million as deposit growth outpaced asset growth.
    • As of September 30, 2024, the Company had $255.7 million of additional borrowing capacity at the FHLB and $78.2 million of other unsecured lines of credit.

    Capital:

    • Shareholders’ equity decreased $16.3 million to $339.3 million. The decrease was primarily driven by the repurchase of shares, including net shares, at a cost of $14.4 million. Additionally, the year-to-date loss, partially offset by favorable changes in accumulated other comprehensive income, also contributed to the decrease.
    • Tangible equity to tangible assets was 16.50% and tangible common equity per share outstanding was $14.74. See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    • The Bank’s capital ratios remain above the FDIC’s “well capitalized” standards.

    Asset quality:

    • As of September 30, 2024, the allowance for credit losses (“ACL”) on loans as a percentage of gross loans was 0.84%.
    • The Company recorded a provision for credit losses of $248 thousand for the third quarter of 2024 and a net release of provision for credit losses of $1.0 million for the nine months ended September 30, 2024. For the third quarter of 2024, there was a provision of $264 thousand in the ACL for off-balance-sheet commitments, offset by a release of $5 thousand in the ACL for loans and $11 thousand in the ACL for held-to-maturity securities. For the nine months ended September 30, 2024, there was a release of $1.1 million in the ACL for loans and $36 thousand in the ACL for held-to-maturity securities, offset by a provision of $94 thousand in the ACL for off-balance-sheet commitments. The release was driven by the impact of the economic forecasts for the key drivers of our loan segments partially offset by an increase in off-balance-sheet commitments.
    • Non-performing loans totaled $5.1 million, or 0.33% of total loans compared to $5.9 million, or 0.38% of total loans at December 31, 2023.
    • Net charge-offs were $11 thousand and $36 thousand for the three and nine months ended September 30, 2024, respectively.
    • Ratio of allowance for credit losses on loans to non-performing loans was 252.86% at September 30, 2024 compared to 239.98% at December 31, 2023.

    About Blue Foundry

    Blue Foundry Bancorp is the holding company for Blue Foundry Bank, a place where things are made, purpose is formed, and ideas are crafted. Headquartered in Rutherford NJ, with a presence in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset and Union counties, Blue Foundry Bank is a full-service, innovative bank serving the doers, movers, and shakers in our communities. We offer individuals and businesses alike the tailored products and services they need to build their futures. With a rich history dating back more than 145 years, Blue Foundry Bank has a longstanding commitment to its customers and communities. To learn more about Blue Foundry Bank visit BlueFoundryBank.com or call (888) 931-BLUE. Member FDIC.

    Conference Call Information

    A conference call covering Blue Foundry’s third quarter 2024 earnings announcement will be held today, Wednesday, October 23, 2024 at 11:00 a.m. (EDT). To listen to the live call, please dial 1-833-470-1428 (toll free) or +1-404-975-4839 (international) and use access code 725750. The webcast (audio only) will be available on ir.bluefoundrybank.com. The conference call will be recorded and will be available on the Company’s website for one month.

    Contact:
    James D. Nesci
    President and Chief Executive Officer
    BlueFoundryBank.com
    jnesci@bluefoundrybank.com
    201-972-8900

    Forward Looking Statements

    Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions.

    Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inflation and changes in the interest rate environment that reduce our margins and yields, the fair value of financial instruments or our level of loan originations, or increase in the level of defaults, losses and prepayments on loans we have made and make; general economic conditions, either nationally or in our market areas, that are worse than expected; changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses; our ability to access cost-effective funding; fluctuations in real estate values and both residential and commercial real estate market conditions; demand for loans and deposits in our market area; our ability to implement and change our business strategies; competition among depository and other financial institutions; adverse changes in the securities or secondary mortgage markets; changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees, capital requirements and insurance premiums; changes in monetary or fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; changes in the quality or composition of our loan or investment portfolios; technological changes that may be more difficult or expensive than expected; a failure or breach of our operational or security systems or infrastructure, including cyber-attacks; the inability of third party providers to perform as expected; our ability to manage market risk, credit risk and operational risk in the current economic environment; our ability to enter new markets successfully and capitalize on growth opportunities; our ability to successfully integrate into our operations any assets, liabilities, customers, systems and management personnel we may acquire and our ability to realize related revenue synergies and cost savings within expected time frames and any goodwill charges related there to; changes in consumer spending, borrowing and savings habits; changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission or the Public Company Accounting Oversight Board; our ability to retain key employees; the current or anticipated impact of military conflict, terrorism or other geopolitical events; the ability of the U.S. Government to manage federal debt limits; and changes in the financial condition, results of operations or future prospects of issuers of securities that we own.

    Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Statements of Financial Condition
                     
        September 30,
    2024
      June 30,
    2024
      March 31,
    2024
      December 31,
    2023
        (unaudited)   (unaudited)   (unaudited)   (audited)
        (Dollars in Thousands)
    ASSETS                
    Cash and cash equivalents   $ 76,109   $ 60,262   $ 53,753   $ 46,025
    Securities available-for-sale, at fair value     290,806     297,790     265,191     283,766
    Securities held to maturity     33,119     33,169     33,217     33,254
    Other investments     18,203     17,942     17,908     20,346
    Loans, net     1,537,971     1,534,357     1,540,428     1,546,576
    Real estate owned, net             593     593
    Interest and dividends receivable     8,386     7,882     8,001     7,595
    Premises and equipment, net     30,161     30,858     31,696     32,475
    Right-of-use assets     24,190     24,596     24,454     25,172
    Bank owned life insurance     22,399     22,274     22,153     22,034
    Other assets     13,749     16,322     30,393     27,127
    Total assets   $ 2,055,093   $ 2,045,452   $ 2,027,787   $ 2,044,963
                     
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Liabilities                
    Deposits   $ 1,318,670   $ 1,311,156   $ 1,291,184   $ 1,244,904
    Advances from the Federal Home Loan Bank     348,500     342,500     342,500     397,500
    Advances by borrowers for taxes and insurance     9,909     9,875     9,368     8,929
    Lease liabilities     25,870     26,243     26,081     26,777
    Other liabilities     12,845     10,081     8,498     11,213
    Total liabilities     1,715,794     1,699,855     1,677,631     1,689,323
    Shareholders’ equity     339,299     345,597     350,156     355,640
    Total liabilities and shareholders’ equity   $ 2,055,093   $ 2,045,452   $ 2,027,787   $ 2,044,963
                             
    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Statements of Operations
    (Dollars in Thousands Except Per Share Data) (Unaudited)
             
        Three months ended   Nine months ended
        September 30,
    2024
      June 30, 2024   September 30,
    2023
      September 30,
    2024
      September 30,
    2023
        (Dollars in thousands)
    Interest income:                    
    Loans   $ 17,646     $ 17,570     $ 16,728     $ 52,408     $ 48,778  
    Taxable investment income     3,850       3,686       3,339       11,150       9,663  
    Non-taxable investment income     36       36       106       108       329  
    Total interest income     21,532       21,292       20,173       63,666       58,770  
    Interest expense:                    
    Deposits     9,712       9,132       7,034       27,257       16,361  
    Borrowed funds     2,733       2,587       3,263       8,332       9,686  
    Total interest expense     12,445       11,719       10,297       35,589       26,047  
    Net interest income     9,087       9,573       9,876       28,077       32,723  
    Provision for (release of) credit losses     248       (762 )     (717 )     (1,049 )     (597 )
    Net interest income after provision for (release of) credit losses     8,839       10,335       10,593       29,126       33,320  
    Non-interest income:                    
    Fees and service charges     272       296       291       897       833  
    Gain on sale of loans                       36       159  
    Other income     115       240       78       441       241  
    Total non-interest income     387       536       369       1,374       1,233  
    Non-interest expense:                    
    Compensation and employee benefits     7,306       7,635       6,640       22,490       21,552  
    Occupancy and equipment     2,230       2,262       2,104       6,684       6,210  
    Data processing     1,412       1,335       1,473       4,134       4,609  
    Advertising     87       52       85       211       234  
    Professional services     813       623       646       2,166       2,390  
    Federal deposit insurance     236       194       263       629       599  
    Other     1,183       1,114       1,183       3,410       3,425  
    Total non-interest expense     13,267       13,215       12,394       39,724       39,019  
    Loss before income tax expense     (4,041 )     (2,344 )     (1,432 )     (9,224 )     (4,466 )
    Income tax expense                              
    Net loss   $ (4,041 )   $ (2,344 )   $ (1,432 )   $ (9,224 )   $ (4,466 )
    Basic loss per share   $ (0.19 )   $ (0.11 )   $ (0.06 )   $ (0.43 )   $ (0.18 )
    Diluted loss per share   $ (0.19 )   $ (0.11 )   $ (0.06 )   $ (0.43 )   $ (0.18 )
    Weighted average shares outstanding                    
    Basic     21,263,482       21,735,002       23,278,490       21,695,895       24,289,599  
    Diluted (1)     21,263,482       21,735,002       23,278,490       21,695,895       24,289,599  

    (1) The assumed vesting of outstanding restricted stock units had an antidilutive effect on diluted earnings per share due to the Company’s net loss for the 2024 and 2023 periods.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Consolidated Financial Highlights
    (Dollars in Thousands Except Per Share Data) (Unaudited)
         
        Three months ended
        September 30,
    2024
      June 30,
    2024
      March 31,
    2024
      December 31,
    2023
      September 30,
    2023
        (Dollars in thousands)
    Performance Ratios (%):                    
    Return on average assets     (0.79 )     (0.47 )     (0.56 )     (0.57 )     (0.27 )
    Return on average equity     (4.68 )     (2.71 )     (3.23 )     (3.25 )     (1.55 )
    Interest rate spread (1)     1.29       1.43       1.40       1.33       1.48  
    Net interest margin (2)     1.82       1.96       1.92       1.84       1.94  
    Efficiency ratio (3) (4)     140.04       130.73       134.19       128.41       120.98  
    Average interest-earning assets to average interest-bearing liabilities     121.37       122.28       122.50       122.93       123.05  
    Tangible equity to tangible assets (4)     16.50       16.88       17.25       17.37       17.07  
    Book value per share (5)   $ 14.76     $ 14.70     $ 14.61     $ 14.51     $ 14.27  
    Tangible book value per share (4)(5)   $ 14.74     $ 14.69     $ 14.60     $ 14.49     $ 14.24  
                         
    Asset Quality:                    
    Non-performing loans   $ 5,146     $ 6,208     $ 6,691     $ 5,898     $ 6,139  
    Real estate owned, net                 593       593       593  
    Non-performing assets   $ 5,146     $ 6,208     $ 7,284     $ 6,491     $ 6,732  
    Allowance for credit losses to total loans (%)     0.84       0.84       0.88       0.91       0.88  
    Allowance for credit losses to non-performing loans (%)     252.86       209.84       205.48       239.98       225.97  
    Non-performing loans to total loans (%)     0.33       0.40       0.43       0.38       0.39  
    Non-performing assets to total assets (%)     0.25       0.30       0.36       0.32       0.33  
    Net charge-offs to average outstanding loans during the period (%)                             0.01  

    (1) Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (2) Net interest margin represents net interest income divided by average interest-earning assets.
    (3) Efficiency ratio represents adjusted non-interest expense divided by the sum of net interest income plus non-interest income.
    (4) See the “Supplemental Information – Non-GAAP Financial Measures” tables below for additional information regarding our non-GAAP measures.
    (5) September 30, 2024 per share metrics computed using 22,990,908 total shares outstanding.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Analysis of Net Interest Income
    (Dollars in Thousands) (Unaudited)
         
        Three Months Ended,
        September 30, 2024   June 30, 2024   September 30, 2023
        Average
    Balance
      Interest   Average
    Yield/Cost
      Average
    Balance
      Interest   Average
    Yield/Cost
      Average
    Balance
      Interest   Average
    Yield/Cost
        (Dollars in thousands)
    Assets:                                    
    Loans (1)   $ 1,548,962   $ 17,646   4.53 %   $ 1,550,736   $ 17,570   4.56 %   $ 1,577,173   $ 16,728   4.21 %
    Mortgage-backed securities     181,596     1,186   2.60 %     167,219     960   2.31 %     170,326     840   1.96 %
    Other investment securities     173,008     1,527   3.51 %     175,394     1,688   3.87 %     194,953     1,507   3.07 %
    FHLB stock     17,666     406   9.15 %     17,223     447   10.44 %     21,047     456   8.60 %
    Cash and cash equivalents     61,507     767   4.96 %     51,290     627   4.92 %     51,884     642   4.91 %
    Total interest-earning assets     1,982,739     21,532   4.32 %     1,961,862     21,292   4.37 %     2,015,383     20,173   3.97 %
    Non-interest earning assets     61,787             56,826             58,042        
    Total assets   $ 2,044,526           $ 2,018,688           $ 2,073,425        
    Liabilities and shareholders’ equity:                                    
    NOW, savings, and money market deposits   $ 598,048     1,925   1.28 %   $ 611,931     1,955   1.28 %   $ 684,228     2,123   1.23 %
    Time deposits     688,570     7,787   4.50 %     655,755     7,177   4.40 %     558,252     4,911   3.49 %
    Interest-bearing deposits     1,286,618     9,712   3.00 %     1,267,686     9,132   2.90 %     1,242,480     7,034   2.25 %
    FHLB advances     347,076     2,733   3.13 %     336,742     2,587   3.09 %     395,359     3,263   3.27 %
    Total interest-bearing liabilities     1,633,694     12,445   3.03 %     1,604,428     11,719   2.94 %     1,637,839     10,297   2.49 %
    Non-interest bearing deposits     23,421             25,076             25,540        
    Non-interest bearing other     43,713             41,061             44,628        
    Total liabilities     1,700,828             1,670,565             1,708,007        
    Total shareholders’ equity     343,698             348,123             365,418        
    Total liabilities and shareholders’ equity   $ 2,044,526           $ 2,018,688           $ 2,073,425        
    Net interest income       $ 9,087           $ 9,573           $ 9,876    
    Net interest rate spread (2)           1.29 %           1.43 %           1.48 %
    Net interest margin (3)           1.82 %           1.96 %           1.94 %

    (1) Average loan balances are net of deferred loan fees and costs, premiums and discounts and include non-accrual loans.
    (2) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (3) Net interest margin represents net interest income divided by average interest-earning assets.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Analysis of Net Interest Income
    (Dollars in Thousands) (Unaudited)
         
        Nine Months Ended September 30,
        2024   2023
        Average
    Balance
      Interest   Average
    Yield/Cost
      Average
    Balance
      Interest   Average
    Yield/Cost
        (Dollars in thousands)
    Assets:                        
    Loans (1)   $ 1,551,734   $ 52,408   4.50 %   $ 1,571,204   $ 48,778   4.15 %
    Mortgage-backed securities     169,765     3,022   2.37 %     174,742     2,789   2.13 %
    Other investment securities     177,455     4,867   3.65 %     197,522     4,523   3.06 %
    FHLB stock     18,335     1,345   9.77 %     21,343     1,106   6.93 %
    Cash and cash equivalents     54,810     2,024   4.92 %     46,363     1,574   4.54 %
    Total interest-earning assets     1,972,099     63,666   4.30 %     2,011,174     58,770   3.91 %
    Non-interest earning assets     59,245             56,762        
    Total assets   $ 2,031,344           $ 2,067,936        
    Liabilities and shareholders’ equity:                        
    NOW, savings, and money market deposits   $ 608,677   $ 5,816   1.27 %   $ 753,419   $ 6,350   1.13 %
    Time deposits     654,639     21,441   4.36 %     472,866     10,011   2.83 %
    Interest-bearing deposits     1,263,316     27,257   2.87 %     1,226,285     16,361   1.78 %
    FHLB advances     352,544     8,332   3.15 %     395,800     9,686   3.27 %
    Total interest-bearing liabilities     1,615,860     35,589   2.93 %     1,622,085     26,047   2.15 %
    Non-interest bearing deposits     24,992             23,092        
    Non-interest bearing other     42,120             44,572        
    Total liabilities     1,682,972             1,689,749        
    Total shareholders’ equity     348,372             378,187        
    Total liabilities and shareholders’ equity   $ 2,031,344           $ 2,067,936        
    Net interest income       $ 28,077           $ 32,723    
    Net interest rate spread (2)           1.37 %           1.76 %
    Net interest margin (3)           1.90 %           2.18 %

    (1) Average loan balances are net of deferred loan fees and costs, premiums and discounts and include non-accrual loans.
    (2) Net interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
    (3) Net interest margin represents net interest income divided by average interest-earning assets.

    BLUE FOUNDRY BANCORP AND SUBSIDIARY
    Supplemental Information – Non-GAAP Financial Measures
    (Unaudited)

    This press release contains certain supplemental financial information, described in the table below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”) that management uses in its analysis of Blue Foundry’s performance. Management believes these non-GAAP financial measures provide information useful to investors in understanding Blue Foundry’s financial results. These non-GAAP measures should not be considered a substitute for GAAP basis measures and results and Blue Foundry strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

    Net income, as presented in the Consolidated Statements of Operations, includes the provision for credit losses and income tax expense, while pre-provision net revenue does not.

        Three months ended
        September 30,
    2024
      June 30, 2024   March 31,
    2024
      December 31,
    2023
      September 30,
    2023
        (Dollars in thousands, except per share data)
    Pre-provision net revenue and efficiency ratio:                
    Net interest income   $ 9,087     $ 9,573     $ 9,417     $ 9,196     $ 9,876  
    Other income     387       536       451       572       369  
    Total revenue     9,474       10,109       9,868       9,768       10,245  
    Operating expenses     13,267       13,215       13,242       12,543       12,394  
    Pre-provision net loss   $ (3,793 )   $ (3,106 )   $ (3,374 )   $ (2,775 )   $ (2,149 )
    Efficiency ratio     140.0 %     130.7 %     134.2 %     128.4 %     121.0 %
                         
    Core deposits:                    
    Total deposits   $ 1,318,670     $ 1,311,156     $ 1,291,184     $ 1,244,904     $ 1,253,104  
    Less: time deposits     701,262       671,478       642,372       596,624       572,384  
    Core deposits   $ 617,408     $ 639,678     $ 648,812     $ 648,280     $ 680,720  
    Core deposits to total deposits     46.8 %     48.8 %     50.2 %     52.1 %     54.3 %
                         
    Total assets   $ 2,055,093     $ 2,045,452     $ 2,027,787     $ 2,044,963     $ 2,101,055  
    Less: intangible assets     300       386       473       557       644  
    Tangible assets   $ 2,054,793     $ 2,045,066     $ 2,027,314     $ 2,044,406     $ 2,100,411  
                         
    Tangible equity:                    
    Shareholders’ equity   $ 339,299     $ 345,597     $ 350,156     $ 355,640     $ 359,149  
    Less: intangible assets     300       386       473       557       644  
    Tangible equity   $ 338,999     $ 345,211     $ 349,683     $ 355,083     $ 358,505  
                         
    Tangible equity to tangible assets     16.50 %     16.88 %     17.25 %     17.37 %     17.07 %
                         
    Tangible book value per share:                    
    Tangible equity   $ 338,999     $ 345,211     $ 349,683     $ 355,083     $ 358,505  
    Shares outstanding     22,990,908       23,505,357       23,958,888       24,509,950       25,174,412  
    Tangible book value per share   $ 14.74     $ 14.69     $ 14.60     $ 14.49       14.24  

    The MIL Network

  • MIL-OSI Russia: Dmitry Chernyshenko: National tourist routes unite 50 regions of the country

    Translation. Region: Russian Federation –

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

    Previous news Next news

    Altai Krai. Turquoise Katun

    As part of the implementation of the national project “Tourism and Hospitality Industry”, the Government, together with the regions, is actively developing the tourism infrastructure, opening new national routes and making travel around the country even more exciting and comfortable. This was stated by Deputy Prime Minister Dmitry Chernyshenko.

    “Development of tourism infrastructure is a complex task that the Government is solving on the instructions of President Vladimir Putin. Thanks to the national project “Tourism and Hospitality Industry”, we are increasing the availability of recreation for Russians and creating new routes. Traveling around Russia is safe, accessible and comfortable. Today, 56 national routes unite 50 regions, allowing travelers to see interesting sights of our country. In this way, we are popularizing domestic tourism, revealing the potential of the regions,” the Deputy Prime Minister said.

    Dmitry Chernyshenko added that national routes run through all federal districts, and the leader in their number is the North-West, where 16 routes have received national status.

    Minister of Economic Development Maxim Reshetnikov spoke about the advantages of new national tourist routes.

    “National tourist routes are the result of the work of regional teams, a unique and ready-made tourist product. Each route is based on a verified set of tourist services that allow travelers to immerse themselves deeply in the history and culture of the territory in a short time, learn about its ethnographic and gastronomic features. For regions, this is not only an opportunity to declare themselves, but also an additional tool for promoting and attracting tourists, as well as an opportunity to receive funds from the national project for the development of infrastructure. For travelers, this is a guarantee of high quality, thoughtfulness and often greater accessibility of the trip,” said Maxim Reshetnikov.

    The Association of Tour Operators of Russia noted that the main goal of such routes is to ensure that tourists are absolutely confident in their comfort and the optimal price-quality ratio while traveling around the country.

    “Assigning the status of a national tourist route is a quality mark, a guarantee of its compliance with the highest requirements formulated in the decree of the Government of Russia. Each national tourist route has its own specifics, and a tourist can choose the most interesting destination for themselves. All NTMs are logistically thought out, have ready-made recommendations on where to stay and stay, are safe and comfortable. When choosing a trip along each route, a tourist can either use the services of tour operators or go independently. Descriptions and programs of national tourist routes can be found on a special page of the national tourism portal “Puteshestvoem.rf”, – clarified the executive director of the Association of Tour Operators of Russia Maya Lomidze.

    The leader in the number of national tourist routes is the Leningrad Region, where the routes “History and Secrets of Medieval Vyborg” have been developed, as well as interregional routes – “Gosudareva Doroga”, which unites the sights of the Moscow, Tver, Leningrad and Novgorod Regions, and “Energy of Ladoga”, which passes through the Leningrad Region and Karelia and received a new status in October.

    “Lake Ladoga is the largest lake in Europe, the cleanest, many rivers flow into it, and only one flows out. It was here that Russian statehood was born, famous monasteries are located, which are a stronghold of spirituality. The unique nature of Lake Ladoga – the Karelian Isthmus, kames and eskers, skerries and numerous bays – all this is united by one route. For the region, the emergence of another national tourist route is very important in terms of regulating the tourist flow, positioning in the tourist geography of Russia. Thanks to the emergence of another national tourist route, the tourist flow to the region can grow annually from 5 to 10%. The plans include the development and promotion of NTM in the Russian and foreign markets,” said Olga Golubeva, Deputy Chairperson of the Committee for Culture and Tourism of the Leningrad Region – Head of the Tourism Department.

    Among the routes that received a new status in October are “The Secret North: from Arkhangelsk to Solovki,” which allows travelers to get acquainted with the history and traditions of the Russian North and visit the Solovetsky Archipelago, as well as the ethnographic tourist route through the Rostov Region “The Great Cossack Circle,” which offers an immersion in the traditions of the Cossacks.

    According to a study by the Association of Tour Operators of Russia, the most popular routes among organized tourists were the Grand Tour “All of Karelia”, as well as “Stories and Secrets of Medieval Vyborg”, “Zhigulevskie Weekend”, “Hello, Altai” and “Arkhangelsk – the Arctic Begins Here”.

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

    MIL OSI Russia News

  • MIL-OSI Security: U.S. Attorney’s Office, FBI Prepared to Handle Complaints of Voting Rights Concerns, Election Fraud

    Source: Office of United States Attorneys

    PROVIDENCE, RI – United States Attorney Zachary A. Cunha announced today that Assistant United States Attorney (AUSA) Amy R. Romero will lead the efforts of his Office in connection with the Justice Department’s nationwide Election Day Program for the upcoming November 5, 2024, general election.  AUSA Romero has been appointed to serve as the District Election Officer (DEO) for the District of Rhode Island, and in that capacity is responsible for overseeing the District’s handling of election day complaints of voting rights concerns, threats of violence to election officials or staff, and election fraud, in consultation with Justice Department Headquarters in Washington.

    United States Attorney Cunha said, “Every citizen must be able to vote without interference or discrimination and to have that vote counted in a fair and free election.  Similarly, election officials and staff must be able to serve without being subject to unlawful threats of violence.  The Department of Justice will always work tirelessly to protect the integrity of the election process.”

     The Department of Justice has an important role in deterring and combatting discrimination and intimidation at the polls, threats of violence directed at election officials and poll workers, and election fraud.  The Department will address these violations wherever they occur. The Department’s longstanding Election Day Program furthers these goals and also seeks to ensure public confidence in the electoral process by providing local points of contact within the Department for the public to report possible federal election law violations.

    Federal law protects against such crimes as threatening violence against election officials or staff, intimidating or bribing voters, buying and selling votes, impersonating voters, altering vote tallies, stuffing ballot boxes, and marking ballots for voters against their wishes or without their input.  It also contains special protections for the rights of voters, and provides that they can vote free from interference, including intimidation, and other acts designed to prevent or discourage people from voting or voting for the candidate of their choice.  The Voting Rights Act protects the right of voters to mark their own ballot or to be assisted by a person of their choice (where voters need assistance because of disability or inability to read or write in English).   

    United States Attorney Cunha stated that: “The franchise is the cornerstone of American democracy.  We all must ensure that those who are entitled to the franchise can exercise it if they choose, and that those who seek to corrupt it are brought to justice.  In order to respond to complaints of voting rights concerns and election fraud during the upcoming election, and to ensure that such complaints are directed to the appropriate authorities, AUSA/DEO Romero will be on duty in this District while the polls are open. She can be reached by the public at the following telephone number: (401) 709-5068.”

    In addition, the FBI will have special agents available in each field office and resident agency throughout the country to receive allegations of election fraud and other election abuses on election day.  The local FBI field office can be reached by the public at (401) 272-8310.

    Complaints about possible violations of the federal voting rights laws can be made directly to the Civil Rights Division in Washington, DC by complaint form at https://civilrights.justice.gov/ or by phone at 800-253-3931.

    United States Attorney Cunha said, “Ensuring free and fair elections depends in large part on the assistance of the American electorate.  It is important that those who have specific information about voting rights concerns or election fraud make that information available to the Department of Justice.”

    Please note, however, in the case of a crime of violence or intimidation, please call 911 immediately and before contacting federal authorities.  State and local police have primary jurisdiction over polling places, and almost always have faster reaction capacity in an emergency. 

    View United States Attorney Cunha’s Election Day Program public service announcement at https://www.youtube.com/watch?v=Lw02Lr2DyCA&t=16s

    ###

    MIL Security OSI

  • MIL-OSI: Trust Stamp Enhances Biometric Security with Palm-Enhanced Cryptographic Solution

    Source: GlobeNewswire (MIL-OSI)

    Atlanta, GA, Oct. 23, 2024 (GLOBE NEWSWIRE) — Trust Stamp (Nasdaq: IDAI), a global provider of advanced identity solutions, is pleased to announce the launch of a pioneering research initiative aimed at expanding its biometric cryptosystem, Stable IT2, to include contactless palm authentication. The Biometric Secure Module (BSM) project will further enhance security by integrating face and palm biometrics, providing a more resilient and privacy-centric authentication system.

    Cyber-crime is on the rise, with global costs projected to reach $10.5 trillion by 2025. Trust Stamp’s BSM project aims to address this growing concern by developing a biometric cryptosystem that offers high-entropy, secure authentication without the need to store sensitive biometric data. This ensures users’ data remains protected even in the event of a device breach, as no cryptographic keys are stored directly on the device.

    Project Biometric Secure Module (BSM) financed by Xjenza Malta, through the FUSION: R&I Technology Development Programme Lite, will span 18 months, with a start date of November 1, 2024. The funding covers 75% of the project cost, with the company contributing 25% from its own resources. By leveraging Trust Stamp’s proprietary Stable IT2 algorithm, the BSM will generate cryptographic keys directly from facial and palm biometric features. This innovative approach maintains high security while minimizing the risks associated with device compromises.

    Prof. Norman Poh, Chief Science Officer of Trust Stamp, emphasized the privacy advantages of this approach, stating, “By utilizing palm biometrics, we can generate secure keys from a biometric modality that is less publicly exposed than facial features. This provides an added layer of protection against unauthorized access.”

    Prof. Reuben Farrugia, Research Director at Trust Stamp, outlined the significance of the research, noting that this project aims to deliver a software development kit (SDK) for Android devices. This SDK will allow integration of the Stable IT2 process into mobile applications, enabling secure on-device authentication. Additionally, the development of Trust Stamp’s Orchestration Layer will provide seamless access to helper data, facilitating user-friendly biometric authentication.

    Trust Stamp’s BSM project represents a significant advancement in the field of biometrics, offering a robust solution that aligns with industry standards such as the FIDO Alliance’s recommendations. With the combination of face and palm recognition, Trust Stamp is poised to redefine digital identity security, particularly for financial institutions, digital wallets, and identity access management providers.

    About Trust Stamp: Trust Stamp is a global provider of AI-powered identity verification and authentication solutions. With a focus on privacy-first security, Trust Stamp offers innovative biometric technology to enhance digital identity management. For more information, visit http://www.truststamp.net.

    About Xjenza Malta: Xjenza Malta is the government agency responsible for promoting and coordinating scientific research, technological innovation, and science communication in Malta.

    Inquiries                                                                                                     Email: dgrima@truststamp.net
    Trust Stamp

    David Grima      
    Director of Product Innovation, Trust Stamp

    Safe Harbor Statement: Caution Concerning Forward-Looking Remarks 

    All statements in this release that are not based on historical fact are “forward-looking statements,” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

    The MIL Network

  • MIL-OSI: LM Funding America, Inc. Announces Ryan Duran Expands Leadership Role to President of its Bitcoin Mining Subsidiary – USDM

    Source: GlobeNewswire (MIL-OSI)

    Tampa, FL, Oct. 23, 2024 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, is pleased to announce the promotion of Ryan Duran from Vice President of Operations to President of its digital mining subsidiary, US Digital Mining and Hosting Co LLC.

    Bruce Rodgers, Chairman and CEO of LM Funding, stated, “As we continue to focus and expand our Bitcoin mining operations, it is clear that strong, dedicated leadership is essential to drive our hosting and mining infrastructure. With his expertise and leadership skills, Ryan Duren is the perfect choice to accelerate our growth in the Bitcoin mining business.”

    With this promotion, Ryan Duran will play a pivotal role in shaping the strategic direction and enhancing the operational efficiency of the Company’s mining operations, ensuring that LM Funding remains at the forefront of the rapidly evolving cryptocurrency industry.

    Mr. Duran has worked with the Company since 2008 and has developed broad operational experience in the digital mining and hosting area and the specialty finance operations of the business. Mr. Duran has a Bachelor of Science in Real Estate and Finance from Florida State University.

    About LM Funding America
    LM Funding America, Inc. (Nasdaq: LMFA), together with its subsidiaries, is a cryptocurrency mining business that commenced Bitcoin mining operations in September 2022. The Company also operates a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington, Colorado, and Illinois, by funding a certain portion of the Associations’ rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments.

    Forward-Looking Statements
    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at http://www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of entering into and operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry.  The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

    Contact:
    Crescendo Communications, LLC
    Tel: (212) 671-1021
    Email: LMFA@crescendo-ir.com

    The MIL Network

  • MIL-OSI: One Stop Systems to Report Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    ESCONDIDO, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (“OSS” or the “Company”) (Nasdaq: OSS), a leader in rugged Enterprise Class compute for artificial intelligence (AI), machine learning (ML) and sensor processing at the edge, announced today that the Company will release its third quarter 2024 financial results before the market opens on Wednesday, November 6, 2024. A webcast and conference call will be held that same day at 10:00 a.m. ET to review the Company’s results.

    Conference Call and Webcast

    Domestic: 1-800-717-1738
    International: 1-646-307-1865
    Conference ID: 13748 (required for entry)
    Webcast:  https://viavid.webcasts.com/starthere.jsp?ei=1692609&tp_key=bc360380ca

    Conference Call Replay

    Domestic: 1-844-512-2921
    International: 1-412-317-6671
    Passcode: 1113748

    A replay of the call will be available after 1:00 p.m. ET on November 6, 2024, through November 20, 2024.

    About One Stop Systems
    One Stop Systems, Inc. (Nasdaq: OSS) is a leader in AI enabled solutions for the demanding ‘edge’. OSS designs and manufactures Enterprise Class compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to harsh and challenging applications, whether they are on land, sea or in the air.

    OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry.

    OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers.

    As the fastest growing segment of the multi-billion-dollar edge computing market, AI enabled solutions require-and OSS delivers-the highest level of performance in the most challenging environments without compromise.

    OSS products are available directly or through global distributors. For more information, go to http://www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn.

    Forward-Looking Statements
    One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Media Contacts:
    Robert Kalebaugh
    One Stop Systems, Inc.
    Tel (858) 518-6154
    Email contact

    Investor Relations:
    Andrew Berger
    Managing Director
    SM Berger & Company, Inc.
    Tel (216) 464-6400
    Email contact

    The MIL Network

  • MIL-OSI Global: Quality of life continues to slide in South Africa’s key economic province, Gauteng – new survey

    Source: The Conversation – Africa – By Christian Hamann, Researcher, Gauteng City-Region Observatory

    The Gauteng City-Region, which has long been South Africa’s economic engine, is in decline. The region contributes about 35% of the country’s total economic output, and is home to more than 15 million people, about 25% of the country’s population of 62 million people.

    Many in the province have come from far and wide hoping to “make it” in the land of opportunity. Yet both the media and the public raise critical questions about its future amid decaying infrastructure, poor delivery of basic government services, and a steady uptick in violent crime.

    New research from the Gauteng City-Region Observatory (GCRO) reveals that development outcomes in the province are declining. The GCRO is an independent institute that produces research and analysis to inform decision making and policy in the Gauteng City-Region. It is a partnership between the Gauteng provincial government, the University of the Witwatersrand, the University of Johannesburg, and organised local government (Salga-Gauteng).

    The GCRO constructs a multidimensional index of wellbeing that combines 33 variables into one measure, known as the Quality of Life Index, from survey data that has been collected every two to three years since 2009.

    This includes measures of health, safety, life satisfaction, socio-economic status, public services, satisfaction with government, and social and political participation. The latest index (2023/24) shows that quality of life in Gauteng has fallen to its lowest level ever since the survey began in 2009. This suggests that the wellbeing of many households has been compromised by the complex and interconnected global challenges, known as the polycrisis, that have emerged since the COVID-19 pandemic.

    Many of these challenges are linked to the local governance crisis, characterised by unstable political party coalitions. The interaction of complex crises amplifies harmful effects, profoundly affecting quality of life.

    A governance crisis emerged in South Africa in the wake of state capture, marked by a stark decline in the provision of quality public services. So, the government has struggled to shield citizens from the worst impacts of the polycrisis. Households face an acute convergence of global and local crises, reflected in health, economic instability, societal unrest, climate challenges, and rising safety concerns.

    The research

    The 7th Quality of Life Survey involved 13,795 adult residents of Gauteng. Respondents were randomly sampled in every ward of the province. Data was collected by a team of fieldworkers from 28 August 2023 to 16 April 2024. The data is made freely available, and is used by government, academics and civil society. The findings inform policy and strategic planning by government entities across the Gauteng City-Region.

    The latest survey results paint a complex picture about the quality of life in Gauteng. Some of the most significant findings which relate to the challenges that household face, and the ways people respond to challenges, are highlighted below. The list of crises includes concerns about public service delivery, satisfaction with government, safety, poverty, and overall quality of life.

    Unreliable service delivery

    Basic services in Gauteng are characterised by interruptions to supply, inadequate coverage and quality problems. While most residents have access to water, electricity, sanitation and refuse removal, satisfaction with these levels has declined substantially since the previous survey in 2020/21.

    The latest survey shows that only 61% of respondents were satisfied with their sanitation, only 60% perceived their water as always clean, and only 64% were satisfied with their refuse removal. These are all lower than in the past when satisfaction ranged between 70% and 75%. The impact, for example, is that those who do not have weekly refuse removal are more likely to dump their rubbish in public spaces or burn it – causing various environmental challenges.

    Gauteng households use various resources at their disposal to deal with the impacts of unreliable services. For instance, one in seven households (15%) are now generating some or all their own electricity, compared to 4% in 2017/18. This is partly related to the unreliability of electricity provision, and growing efforts to gain independence from the “grid”. But the unreliability and cost of electricity have varied impacts, depending on household income.

    Declining satisfaction with government

    Only a fifth (21%) of respondents were satisfied with the performance of the national government. A similar proportion (22%) of respondents were satisfied with the performance of provincial and local governments. Satisfaction for all these spheres has declined by between 15 and 20 percentage points since 2017/18.

    The effect of dissatisfaction with government is increasing disengagement. Just over half of respondents (54%) felt that politics was a waste of time, and 57% said that South Africa was a failed state. When the survey was conducted, before the 2024 provincial elections, 21% of respondents said they were not planning to vote. Thus, government dissatisfaction and disengagement helps to understand the low voter turnout during the elections.

    Poverty

    While poverty rates measured in 2023/24 have improved from their peak during the pandemic, the recovery is partial. Sixteen percent of respondents lived below the food poverty line of R760 per month (about US$43). This remains higher than pre-pandemic levels (it was 12% in 2017/18). It shows that a large portion of Gauteng’s households have struggled to meet their basic needs for a long time.

    South Africa’s welfare systems remain a lifeline for many households. The proportion of respondents that benefited from any kind of social grant (including child support and old age pensions has increased steadily from 30% in 2011 to just over 50% in 2023/24.

    Low-income households are also less likely to recover from shocks because they lack financial safety nets, and cannot afford to replace public services with costly private alternatives.

    Safety concerns

    Another kind of problem experienced by respondents is insecurity as a result of crime and violence. A fifth of respondents (21%) said that they had been the victim of crime in the last year. This was a two percentage point increase from 2020/21, when lockdowns reduced crime levels. The proportion of respondents who said that the crime situation had worsened was also higher (increasing from 43% in 2020/21 to 48% in 2023/24).

    Much larger proportions of respondents felt unsafe in their homes, and when walking in their neighbourhood in the daytime or at night. For example, in 2023/24, 81% of respondents felt unsafe walking in their area at night, compared to 75% in 2020/21. The effect is that 62% of respondents in 2023/24 were dissatisfied with the security services provided by the government, compared to 54% in 2020/21.

    Overall quality of life is lower

    Overall, in the latest index quality of life reached its lowest point yet since the index was first calculated. The 2023/24 value was calculated at 59.5 out of 100, compared to 61.4 in 2020/21 and a high of 63.9 in 2017/18.

    Most of the dimensions declined, suggesting that the wellbeing of many households has been adversely affected by the interplay between the governance crisis and the polycrisis. Households’ ability to navigate these challenges is strongly shaped by inequality, which remains very high.

    The 2023/24 quality of life report shows that the Gauteng City-Region grapples with a series of wicked problems. Public and private sector leaders, along with civil society, need to assess the current situation and collaborate on innovative solutions to enhance the quality of life of all residents in the City-Region.

    Shannon Arnold, a junior researcher at the Gauteng City-Region Observatory, contributed to the research and this article.

    Christian Hamann is employed by the Gauteng CIty-Region Observatory which receives funding from the Gauteng Provincial Government.

    Rashid Seedat is employed by the Gauteng CIty-Region Observatory which receives funding from the Gauteng Provincial Government. He is also a Board member of the Ahmed Kathrada Foundation.

    ref. Quality of life continues to slide in South Africa’s key economic province, Gauteng – new survey – https://theconversation.com/quality-of-life-continues-to-slide-in-south-africas-key-economic-province-gauteng-new-survey-241714

    MIL OSI – Global Reports

  • MIL-OSI Global: As more Americans go ‘no contact’ with their parents, they live out a dilemma at the heart of Shakespeare’s ‘King Lear’

    Source: The Conversation – USA – By Jeanette Tran, Associate Professor of English, Drake University

    Losing a connection to your family, intentionally or not, is tragic. catscandotcom/E+ via Getty Images

    Is blood thicker than water? Should family always come first?

    These clichés about the importance of family abound, despite the recognition that familial relations are oftentimes hard, if not downright dysfunctional.

    But over the past few years, a discussion has emerged about a somewhat taboo move: cutting ties altogether with family members deemed “toxic.”

    Called going “no contact,” this form of estrangement usually involves adult children cutting ties with their parents. It might happen after years of abuse or when a parent disapproves of a child who has come out as LGBTQ+. Or it might be spurred by political or religious differences. Even Vice President Kamala Harris has been mostly estranged from her father since her parents’ divorce.

    The “no contact” movement has its proponents and detractors.

    Those in favor say people should disentangle from unhealthy relationships without shame, and that family should be held to the same standards as friends and romantic partners.

    Those against say the bar for what constitutes familial trauma has become too low, and that some kids who cut off all contact are being selfish.

    At the heart of the debate over the ethics of estrangement is a cultural attachment to the idea of family. The field of family estrangement is still in its early stages, but discussions of the collapsed parent-child relationship – its sources, its ethics, its consequences – can be found in literature across history. As I’ve encountered more articles, forums and social media posts devoted to family estrangement, I can’t help but see connections to Shakespeare’s “King Lear,” which I teach to my students as a tragedy about dysfunctional families.

    The tragedy features characters who are cast out by their families, and while the work is over 400 years old, it offers uncanny insight into the logic of modern family estrangement.

    Early modern family

    In Shakespeare’s time – the English early modern era, which spanned from the beginning of the 16th century to the start of the 18th century – Protestantism reinforced the idea that people had special obligations to their kin.

    As the English Puritan preacher John Foxe wrote in “The Book of Martyrs,” “Among all the affections of nature, there is none that is so deeply graved in a father’s mind, as the love and tender affection towards his children.”

    In Foxe’s teaching, children were blessings from God who required nurturing, spiritual guidance and material support from their parents. Children, in turn, were obliged to honor and obey their parents who cared for them.

    While this sounds simple enough, the early modern family was no less prone to dysfunction than the modern family.

    Just like today, parent-child relationships were dynamic and evolved across the life span of the parents. As historian Ilana Krausman Ben-Amos argues, the family bond was not sustained by adhering to God’s commands, but through giving and reciprocation that was asymmetrical.

    Parents could invest a lot into their children and get very little in return, and vice versa. Due to shorter life expectancy, many parents did not live to see their children come of age, and if they did, children rarely earned enough to pay their parents back for the cost of raising them. Thus, children might reciprocate in less material forms, such as through offering affection.

    When a parent died, the children might receive some form of inheritance, but this was largely determined by class status, gender and the order of birth.

    Shakespeare’s characters go ‘no contact’

    “King Lear” features two storylines. Each relates to the disintegration of the family.

    In ‘King Lear,’ Edgar cuts his family off after his father, Gloucester, disavows him.
    Heritage Images/Hulton Archive via Getty Images

    The first plot involves Gloucester and his two sons, Edgar and Edmund. Edmund is a bastard, which means when Gloucester dies, his legitimate brother, Edgar, will inherit everything. To get his revenge, Edmund forges a letter in which Edgar reveals plans to murder Gloucester to expedite his inheritance. Once Gloucester sees the letter, he writes Edgar off as a villain. Feeling betrayed, Edgar assumes a new identity as a beggar and goes no-contact with his family.

    In the second plot, King Lear attempts to divide his kingdom among his daughters. Because it is impossible to equally divvy up cities, towns and villages, he invents a contest: Each daughter will give a speech articulating their love for their father. He’ll award the best parts of the kingdom to the daughter who does the finest job stroking his ego.

    Lear expects Cordelia, his favorite, to outshine her sisters. But she refuses to play along and instead calls him out for his vanity. Feeling disrespected, Lear disinherits Cordelia. With no money, she’s forced to marry the first man who will take her and moves to France.

    In these family dramas, the parents are unfair, even vindictive, toward their children. But the conflict is still compelling and relatable to readers today because so many families are characterized by inequality.

    The favorite child, the preferred parent and the inheritance dispute are as timeless to families as birthday parties and funerals.

    Right and wrong get muddied

    Deception inspires Gloucester’s disavowal and disinheritance of Edgar. And, yes, Edmund’s scheme to destroy Edgar and Gloucester’s relationship is diabolical. But at the same time, Gloucester’s decision to throw away his decades-long relationship with his son over a letter – phony or not – seems rash.

    Was Edgar right to flee from his father? Or could something have been done to save the relationship?

    Cordelia is correct that Lear is vain for expecting his daughters to compete for their inheritance. At the same time, complimenting her father seems like a small price to pay for an entire kingdom.

    Is Cordelia acting like a spoiled brat by refusing to honor and obey her father? Or is she doing him a favor by calling out his unbecoming behavior?

    Shakespeare doesn’t offer us any clear answers to these questions; he just asks readers to wade in the complexity of them and experience the unique grief that comes from watching a family fall apart over something that maybe could have been avoided.

    No envy for the estranged

    No one gets a happy ending in “King Lear” – not the children who reject their parents, and most certainly not the parents, who need their children to protect them and care for them in old age.

    Edmund’s grief over his bastard status begets the grief he brings to Gloucester and Edgar. For failing to see the truth of Edgar’s innocence, Gloucester is physically blinded by one of Edmund’s unwitting co-conspirators, a punishment he accepts. When Edgar reunites with Gloucester, his eyes fill with tears as he witnesses his father’s physical suffering. Before Gloucester dies, Edgar asks his father for a blessing.

    Even though Lear cut off contact with Cordelia, she still returns to England once she learns her sisters have thrown Lear out onto the streets with nothing but the clothes on his back. The sisters come off as villains, but one could also see their abandoning Lear as karmic retribution. When Lear reunites with Cordelia, he begs for her forgiveness, suggesting he recognizes his failures, and she begs for his, recognizing her enduring love for him despite his faults.

    Cordelia comforts her father, King Lear, after he’s been betrayed by his other daughters.
    Universal History Archive/Getty Images

    Then and now, family estrangement often leads to loneliness, along with social stigma.

    Parents can be ashamed to say their children no longer speak to them. People who are estranged from their parents speak of the impulse to share milestones with family, but fear eroding the boundaries they’ve worked so hard to maintain.

    Just like in “King Lear,” not having a family also means being economically vulnerable: It remains difficult to get a loan or lease as a young adult without a co-signer.

    The advantages of belonging to a family are so obvious that losing that affiliation, intentionally or not, is tragic. “King Lear” ends with almost all the characters dying, but because this is a play – a fiction, a fantasy – they get to ask for and receive forgiveness before the curtain closes.

    Real life doesn’t usually work like that, nor should it be expected to. If “King Lear” and Kamala Harris’ estrangement from her father make anything clear, it is that no amount of money, power or threat of bad publicity can fully protect a family from dysfunction and disintegration.

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

    ref. As more Americans go ‘no contact’ with their parents, they live out a dilemma at the heart of Shakespeare’s ‘King Lear’ – https://theconversation.com/as-more-americans-go-no-contact-with-their-parents-they-live-out-a-dilemma-at-the-heart-of-shakespeares-king-lear-239916

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Reminder to sign in at every hearing

    Source: United Kingdom – Executive Government & Departments

    Recent joint working between LAA and HMCTS has identified the need for greater consistency across all courts in the way advocates sign in on all hearing days.

    New guidance has been issued by HM Courts and Tribunals Service (HMCTS) to all court staff and the expectation is that counsel and defence practitioners will be required to sign in at every hearing.

    This will improve the data within Common Platform and enable the Legal Aid Agency to process claims without the need to request an attendance note and delay any payments.

    Evidence of attendance via the court log or attendance note is vital to ensure that the Legal Aid Agency (LAA) can evidence that payments are being made in compliance with the Criminal Procedure Rules. All payments must be evidenced for Crown Court hearings.

    Detailed guidance for how to sign in is available on the HMCTS GOV.UK pages: Check in to a Common Platform hearing – GOV.UK (www.gov.uk)

    Further information

    Crown Court fee guidance

    Legal aid guidance page has the following resources:

    Criminal Bills Assessment Manual

    Regulatory links:

    Criminal Legal Aid (Remuneration) Regulations 2013 – regulation 13(3)

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Child Poverty Taskforce aims to ‘give all children the best start in life’

    Source: United Kingdom – Executive Government & Departments

    Voices of struggling families, anti-poverty organisations and local leaders will be put at the centre of the Child Poverty Taskforce’s work to build an ambitious strategy to give all children the best start in life, ministers have pledged in a new framework published today [Wednesday 23 October].

    • Child Poverty Taskforce co-chairs Liz Kendall and Bridget Phillipson speak to parents and Barnardo’s CEO at a charity centre in Brent  

    • Comes as new framework sets out how Child Poverty Taskforce will build a bold strategy to break down barriers to opportunity and give all children the best start in life  

    • Ministers to host events and travel across the United Kingdom to hear views and experiences of local leaders, charities and those living in poverty

    The Taskforce today publishes a framework for the strategy that will come out in the Spring. 

    Over the coming months the Taskforce will focus on reducing the number of children in relative poverty after housing costs, reducing the number of children who are going without essentials, and giving all children the best start in life.

    The publication outlines how the Taskforce will work with key anti-poverty organisations around targets such as reducing costs, increasing incomes and improving access to early year’s support for struggling families.

    Work and Pensions Secretary Liz Kendall MP and Education Secretary Bridget Phillipson MP kicked off this engagement by visiting a Barnardo’s Family Centre in Brent alongside Barnardo’s CEO Lynn Perry MBE. They joined a children’s session focused on healthy eating and heard how parents – including single parents – are struggling with the cost of essentials.

    Later today, ministers will meet with the likes of Ofgem, The Food Foundation, Water UK and other leading organisations on the theme of reducing household costs.

    The new document sets out how ministers will take part in events across the nations and regions of the United Kingdom, bringing together a diverse range of voices and expertise to address the systemic drivers of poverty – ranging from employment to housing – as it creates an ambitious strategy to be set out in the Spring.

    Taskforce co-chair and Work and Pensions Secretary Liz Kendall MP will visit Scotland next month to bring together local leaders, key charities and organisations as well as parents, children and frontline workers.

    Work and Pensions Secretary Liz Kendall MP said:  

    Children can’t fulfil their potential without food in their bellies or a roof over their head. And Britain cannot fulfil its potential when the talents of so many children are being denied.

    It is unacceptable that more than 4m children are now growing up in poverty. Under our new government, this will change.

    We will work with campaigners and experts – and struggling families across the country to deliver a bold and ambitious strategy that drives down poverty and drives up opportunity in every corner of the land.

    Education Secretary Bridget Phillipson MP said:  

    The stain of poverty of child poverty in this country has jeopardised the life chances of too many children for too long.

    Ending child poverty is a complex and difficult task, but our defining mission is to break down the unfair link between background and success – so every child believes that opportunity can belong to them.

    Today’s framework sets the clear direction on this mission, ensuring we are united across government and with stakeholders to drive down household costs.

    A new forum of parents and carers living across the UK will be set up to ensure the experiences of children in poverty, including those with special educational needs and disabilities, feed into the final strategy.

    Leading organisations such as Barnardo’s, Citizens Advice, the National Children’s Bureau and Save the Children will share their knowledge with Ministers, and a new board of leading academics and experts on tackling poverty will inform, test and scrutinise the work being done on the Strategy.

    Barnardo’s Chief Executive, Lynn Perry MBE, said:    

    We are seeing epidemic levels of poverty amongst children in the UK. Across the country, families are facing a desperate struggle to put food on the table, keep the lights on and heat their homes this winter. More than 4.3 million children are growing up in poverty, with one in four families saying they’ve struggled to afford food in the last 12 months alone.   

    Growing up in poverty can have a devastating impact on a child’s life, affecting their learning, mental and physical health long into adulthood, while limiting their life chances.  

    We’re grateful to the Secretaries of State for Work and Pensions and Education for their visit to meet children and families at our Brent service which supports those struggling with the cost-of-living. We look forward to working with ministers to find long-term solutions to these issues whilst recognising families also need immediate help this winter.

    Dame Clare Moriarty, Chief Executive at Citizens Advice, said:  

    The cost-of-living crisis has squeezed household finances and tipped many into significant hardship. Our frontline advisors are still seeing families doing all they can but unable to afford essentials for their children.

    A clear strategy to combat child poverty is urgently needed. It must be ambitious and ensure that people facing acute pressures get the help they need soon, while also delivering change that will last.

    Anna Feuchtwang, Chief Executive of the National Children’s Bureau, said:  

    4.3 million children living in poverty in the UK is an unacceptable blight on our society and children deserve better.

    NCB welcomes the Government’s commitment to consulting with a broad range of stakeholders to understand how to make this happen. It is crucial that the voices of children and families with lived experience of poverty are central not just to the development of the strategy, but to implementing it as well.

    We desperately need to see progress for children in this area – asking the right questions is a good start.

    Dan Paskins, Executive Director of Policy, Advocacy and Campaigns at Save the Children UK, said:  

    For too long child poverty has been shamefully high, so we welcome the recognition from the UK Government today that tackling it is a moral imperative.

    The root causes of poverty are complex and can only be solved by listening to and working with those most affected. We are therefore really pleased to be working with the UK Government to facilitate the Child Poverty Taskforce hearing directly from children, their families, and our partners in communities across the UK.

    We look forward to working with UK Government, with organisations across the sector, and across the regions and nations of the UK, to develop a Child Poverty Strategy that ensures all children have the guaranteed support that they desperately need and deserve.

    The development of this ambitious strategy will be guided by the internationally recognised measure ‘Relative Poverty After Housing Costs’. 

    To support struggling families, we have already boosted the Household Support Fund by a further £421 million in England while the Warm Home Discount remains in place for low-income households as the Government stands firms on its commitment to protect those most at risk this winter.  

    This comes alongside Government plans to deliver quality work and better pay through the Employment Rights Bill, create 3,000 new nurseries, and lower energy bills through Great British Energy.  

    Additional Information   

    • There are currently 4.3m children in relative poverty after housing costs in the United Kingdom as of 2022/23.  

    • Relative Poverty After Housing Costs takes into account the proportion of families with below 60% of the median income after housing costs are deducted.  

    • The Barnardo’s Family Centre in Brent offers a wide range of free advice to families while providing crisis funding through vouchers, hosts cooking sessions and holds activity days for children to give them the best start in life and ease the burden on those living in poverty.  

    • The ’Tackling Child Poverty: Developing our Strategy’ document is available here: Tackling Child Poverty: Developing Our Strategy – GOV.UK (www.gov.uk) 

    • Following the Household Support Fund extension, an estimated £79million will be made available to the Devolved Governments to support their citizens as they see fit.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom

  • MIL-OSI USA: A Congress.gov Interview with Christy Amatos, Assistant Parliamentarian for the US Senate

    Source: US Global Legal Monitor

    Today’s Congress.gov interview is with Christy Amatos, an Assistant Parliamentarian at the United States Senate. 

    Describe your background.

    I am a native Ohioan who attended The Ohio State University and later Boston University for law school. I have been working in non-partisan legislative work for about a decade – I started my career in the Ohio General Assembly as a bill drafter. After about a year of that, I was offered the chance to move to another legislative agency that was in the process of rolling out software to fully digitize the lawmaking process. I had no background in tech but they promised me if I knew the legislative process, they would teach me everything I needed to know about being a business analyst.

    I had no idea what I was getting into but I loved it! I served as the liaison between the clerks in the Ohio Senate and House of Representatives and the team designing and developing the software. I learned so much about communication – both the unique language used in software development but also how to confront and address problems in a productive and congenial way, particularly in high stress situations. At the time, I had no idea how much those skills were going to help me in the future.

    A few years later, I joined the Office of the Senate Parliamentarian in Congress, another non-partisan role but one that was more traditionally connected to my legal training. I have been here for about six years and love it. The people who work on Capitol Hill are what make this job so great – from the Secretary of the Senate staff I work with every day to the folks at the Library of Congress who engage with us on Congress.gov.

    How would you describe your job to other people?

    The Senate Parliamentarian is kind of like the referee of the Senate. We interpret and apply the rules of the Senate on a daily basis.

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

    It just so happened that when I started working in the Senate, there was an opportunity to join the Secretary of the Senate’s Congress.gov team and because of my past experience, my boss suggested I join. I was definitely excited to be able to dip my toes back into some of the type of work I had been doing in Ohio. At that time, Congress.gov was live but so was the previous resource, LIS, which was a website only accessible to Congress with some additional features that the public-facing site THOMAS did not have. There were a lot of growing pains getting Congress.gov to the point where it could provide the same level of service to users that LIS had . . . and a lot of staff who were always going to like LIS better no matter what. So we had a big challenge working to gain the trust of the internal users while also continuing to work on bettering Congress.gov.

    Fortunately, we were able to gather a great group of staff, both on the Secretary of the Senate side of things and on the Library of Congress side, and were able to get buy-in from some important, but previously uninvolved, stakeholders and then things really started to improve.

    All of that to say that I think of my role in two parts – provide important feedback on how data is used and presented from the perspective of my office, but also to help facilitate the good conversations and working relationships that are critical to the success of Congress.gov.

    One thing I do take great satisfaction in is fixing errors in really old data – we recently fixed one from five years before I was born – you know the errors have been out there for decades and maybe no one has looked at that particular piece of legislation or maybe they did not notice the misspelled word but fixing it is one more tiny step to getting Congress.gov to be as perfect as we can make it and I find that so satisfying.

    What is your favorite feature of Congress.gov?

    I think someone described the folks in my office as “power users” of Congress.gov, which sounds much more impressive than I ever actually feel on a daily basis. But I do use the search functions on Congress.gov every single day, so my favorite feature is absolutely one of the advanced searches. The command line search lets the user input search terms and connectors to tailor the results to be very specific without having to click a lot of boxes or choose from dropdown menus. There is nothing more satisfying than getting good search results on the first try!

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

    I have been working in the legislative branch for about a decade at this point, so I am not entirely sure I can pin down one in particular. Something I have started to spend time learning, however, is the history of the legislative process, and by extension, the history of the people working in the legislature.

    One of my favorite anecdotes is that before the Russell Senate Office Building was named for Richard Russell, it was just called the Senate Office Building and Senator Harry Truman would joke that his constituents could address his mail to “Harry Truman S.O.B.” and the Post Office would know where to deliver it.

    One of the important things I have learned about the legislative process is that it is made up of all of the people who have worked and served here, not just the elected members. For example, last year I read the obituary of former Senate Committee on Foreign Relations staffer Bertie Bowman and immediately went in search of his autobiography. He started working at the Capitol in the 1940s when he was 13 years old and did not fully retire until 2021. His story of service to his country is just one example of why so many people have done this work over more than two centuries and serves as an inspiration for those of us currently doing it.

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

    This is the opposite of something people do not know about me, I am telling everyone because it makes me laugh! I just got a kitten and I named him John Quincy Catams.

    John Quincy Catams, picture courtesy of Christy Amatos.

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

    MIL OSI USA News

  • MIL-OSI: Global Cloud Storage Market Expected to Reach $234 Billion By 2028 as Tech Stocks Chase Big Opportunities in Big Data

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 23, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The cloud storage market is witnessing significant growth due to the expanding realms of IoT and big data. Cloud storage services offer an agile, flexible, and scalable model for data storage on the Internet, managed and operated by service providers. This model provides enterprises with advantages such as rapid deployment, scalability, reduced CAPEX, and uninterrupted business continuity. A report from MarketsAndMarkets projected that the global Cloud Storage Market size is expected to grow to USD $234.9 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period. The report said: “The rising investments by governments and investors in tailored Cloud Storage solutions offerings along with the increasing need for flexible, scalable, efficient storage and disaster recovery, backup solutions and services, are expected to drive the market growth. The demand across enterprises worldwide for Cloud Storage solutions in a shift to cloud-based technologies from on premises is expected to drive the market growth. Surge in demand to provide remote work force with omnipresent access to data and files has been a key driving factor to foster market adoption largely.” Active tech companies in the markets this week include: Scope Carbon Corp. (OTCQB: SCPCF) (CSE: SCPE), Oracle Corporation (NYSE: ORCL), Snowflake (NYSE: SNOW), NVIDIA Corporation (NASDAQ: NVDA), Advanced Micro Devices, Inc. (NASDAQ: AMD).

    MarketsAndMarkets continued: “Based on use cases, Backup & Recovery will hold the highest market share in the Cloud Storage market during the forecast period. Backup & Recovery is crucial in safeguarding data and ensuring business continuity. These applications are purpose-built to address the unique challenges of modern, dynamic, and often distributed IT environments. By seamlessly integrating with cloud technologies and containerized workloads, they provide a layer of resilience that protects data against loss, corruption, or disasters. These solutions enable organizations to efficiently create backups, perform granular recoveries, and maintain data integrity, thereby supporting cloud applications and services reliable and uninterrupted operation. In an era where data is a paramount asset, Backup & Recovery applications in cloud storage are indispensable for mitigating risks and ensuring the availability and integrity of critical information.”

    Scope Carbon Corp. (CSE: SCPE) (OTCQB: SCPCF) Launches Subscription Model for Round-Trip Encrypted, Quantum-Resilient Cloud Storage for Individuals and Small Businesses Scope Carbon Corp. (“Scope” or the “Company”) is pleased to announce the official launch of its subscription model, now offering individuals and small businesses full access to its industry-leading round-trip encrypted and quantum-resilient decentralized cloud storage solutions.

    This launch builds on Scope Technologies’ commitment to providing top-tier, next-generation data security. With the QSE (Quantum Security Entropy) platform, individuals and small businesses can now leverage the same advanced encryption and decentralized storage infrastructure that Scope delivers to mid-sized and enterprise clients, ensuring their data remains safe from current and future cyber threats. The platform is designed for seamless scalability, allowing users to expand their storage and security needs as they grow, without compromising performance or protection. Additionally, QSE’s efficiency-driven model ensures competitive pricing, reflecting our ability to deliver premium security solutions with exceptional value. Readers are encouraged to visit Scope Technologies’ QSE platform at: https://www.qse.group/#services

    A New Era of Data Security for Individuals and Small Businesses

    Following the successful completion of platform updates and closed-group testing, individuals and small business users now have access to QSE’s cloud storage services, featuring:

    • Quantum-Proof Encryption: Utilizing quantum entropy to generate encryption keys that remain unbreakable, even by future quantum computing power.
    • Immutable, Decentralized Storage: A decentralized infrastructure ensures data is protected from ransomware, over-encryption, or tampering, offering a significant advantage over traditional cloud backups.
    • Seamless Integration: Easy-to-use APIs allow for quick setup and smooth integration with existing data systems, providing flexibility and scalability.
    • Accessible Pricing Plans: Tiered subscription options make enterprise-grade security affordable and accessible for both individuals and small businesses.

    “Data protection should not be a luxury,” said Sean Prescott, Founder and CTO of Scope Technologies Corp. “With this launch, we’re making the same round-trip, quantum-resistant encryption and decentralized storage vaults available to individuals and small businesses that we already provide to mid-sized and enterprise corporations. Now everyone can protect their data from today’s risks and the future challenges posed by quantum computing.” CONTINUED… Read this full release and more for Scope Technology at: https://www.financialnewsmedia.com/news-scpe/

    In other tech industry news of interest:

    Oracle Corporation (NASDAQ: ORCL) – To ease patient settlement and payment reconciliation, Oracle recently announced Oracle Health Payments. With the end-to-end payment solution, including gateway routing, processing, and acquiring under a single agreement, healthcare facilities can help reduce costly, unexpected service fees. It also makes it easier for patients to cover a copay, elective surgery, or an existing bill using a variety of payment options including, traditional chip and pin pay methods, or simply tapping to pay with the latest digital options including Apple Pay, Google Pay, and Samsung Pay.

    Payment processing costs can vary widely between payment providers, card brands, or payment types. Compliance and service fees can also make it difficult for healthcare facilities to estimate and factor these costs into their financial planning. Built on Oracle Cloud Infrastructure (OCI), Oracle Health Payments offers a payment card industry (PCI)-compliant, fixed-rate pricing model with no additional service or convenience fees. Integrated with Oracle’s point-of-sale hardware and Oracle Health Patient Accounting, Oracle Health Payments uses end-to-end encryption and tokenization, empowering health systems to securely capture payments and automate revenue posting, which helps reduce fraud and collection costs.

    Snowflake (NYSE: SNOW), the AI Data Cloud company, recently announced the launch of the AI Data Cloud for Travel and Hospitality, uniting Snowflake’s data platform, AI capabilities, and industry-specific solutions to deliver best-in-class data insights for the travel and hospitality industry. Snowflake empowers airlines, hotels, cruise lines, and travel technology providers to harness data and artificial intelligence to improve operations and power five-star customer experiences across the sector.

    As the travel and hospitality industry transitions from recovery to stable growth, businesses face new challenges and opportunities. Snowflake is uniquely positioned to support this growth, offering a unified platform that streamlines AI and ML development, providing top-tier security and governance capabilities, and democratizing data access. With robust data collaboration capabilities and effortless scalability, Snowflake enables organizations to harness their data’s full potential.

    NVIDIA Corporation (NASDAQ: NVDA) recently announced that it has contributed foundational elements of its NVIDIA Blackwell accelerated computing platform design to the Open Compute Project (OCP) and broadened NVIDIA Spectrum-X™ support for OCP standards.

    At this year’s OCP Global Summit, NVIDIA will be sharing key portions of the NVIDIA GB200 NVL72 system electro-mechanical design with the OCP community — including the rack architecture, compute and switch tray mechanicals, liquid-cooling and thermal environment specifications, and NVIDIA NVLink™ cable cartridge volumetrics — to support higher compute density and networking bandwidth.

    NVIDIA has already made several official contributions to OCP across multiple hardware generations, including its NVIDIA HGX™ H100 baseboard design specification, to help provide the ecosystem with a wider choice of offerings from the world’s computer makers and expand the adoption of AI.

    Advanced Micro Devices, Inc. (NASDAQ: AMD) and Intel Corp. (INTC) recently announced the creation of an x86 ecosystem advisory group bringing together technology leaders to shape the future of the world’s most widely used computing architecture. x86 is uniquely positioned to meet customers’ emerging needs by delivering superior performance and seamless interoperability across hardware and software platforms. The group will focus on identifying new ways to expand the x86 ecosystem by enabling compatibility across platforms, simplifying software development, and providing developers with a platform to identify architectural needs and features to create innovative and scalable solutions for the future.

    For over four decades, x86 has served as the bedrock of modern computing, establishing itself as the preferred architecture in data centers and PCs worldwide. In today’s evolving landscape—characterized by dynamic AI workloads, custom chiplets, and advancements in 3D packaging and system architectures—the importance of a robust and expanding x86 ecosystem is more crucial than ever.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at http://www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #pressreleases #tickertagpressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by Scope Technology Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network

  • MIL-OSI: Amplify ETFs Launches the Amplify Small-Mid Cap Equity ETF (NYSE Arca: SMAP)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 23, 2024 (GLOBE NEWSWIRE) — Amplify ETFs announces the launch of the actively managed Amplify Small-Mid Cap Equity ETF (NYSE Arca: SMAP), offering investors targeted exposure to high-quality U.S.-listed small- and mid-cap growth and value equity securities.

    SMAP seeks to invest in companies with market capitalizations between $400 million and the largest companies in the Russell 2500 Index, giving successful companies room to run into mid-cap without forced premature selling. Curi RMB Capital actively manages SMAP by using a proprietary economic return framework to identify attractively priced small- to mid-cap companies across all stages of the corporate lifecycle while building a portfolio diversified by corporate lifecycle stage and sector.

    “SMAP offers investors a compelling opportunity to capitalize on the growth potential of professionally selected small and mid-cap companies in a rate-cutting environment,” said Christian Magoon, CEO of Amplify ETFs. “The Curi RMB Capital team prides itself on a rigorous selection process in search of high-quality small- and mid-cap companies. SMAP is a natural complement to our growing suite of ETFs that meet the diverse needs of today’s investors.”

    Curi RMB Capital also runs the RMB SMID Cap Fund (RMBMX), a mutual fund with a 20-year track record. RMBMX is led by Christopher Faber, senior vice president and portfolio manager, who has a history of identifying market inefficiencies and uncovering high-growth potential small and mid-sized companies. Christopher Faber is also the lead portfolio manager for SMAP.

    “We are pleased to enter the ETF market with Amplify ETFs as our partner,” said Faber. “Market conditions are favorable for small- and mid-cap companies driven by lower rates, strong earnings potential and current valuations.”

    For more information about SMAP, visit AmplifyETFs.com/SMAP.

    About Amplify ETFs
    Amplify ETFs, sponsored by Amplify Investments, has over $10 billion in assets across its suite of ETFs (as of 10/11/2024). Amplify ETFs deliver expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more visit AmplifyETFs.com.

    Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

    Investing involves risk, including the possible loss of principal. The fund is new with limited operating history. You could lose money by investing in the Fund. There can be no assurance that the fund’s investment objectives will be achieved. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

    Investments in small and mid-cap companies may have limited liquidity and greater price volatility than large-capitalization companies.

    Amplify Investments LLC serves as the investment adviser to the Fund. Curi RMB LLC and Penserra Capital Management LLC each serve as investment sub-advisers to the Fund.

    Amplify ETFs are distributed by Foreside Fund Services, LLC.

    The MIL Network

  • MIL-OSI: Federal Home Loan Bank of Indianapolis partners with Michigan State Housing Development Authority to launch Rate Relief Mortgage Program

    Source: GlobeNewswire (MIL-OSI)

    INDIANAPOLIS, Oct. 23, 2024 (GLOBE NEWSWIRE) — In an effort to make homeownership more accessible and affordable in Michigan, the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or the Bank) and the Michigan State Housing Development Authority (MSHDA) have created the MSHDA Rate Relief Mortgage Program to benefit low-income, first-time homebuyers in the state.

    This new program will allow qualified low-income first-time homebuyers to reduce the cost of their mortgage by one full percentage point if they finance through a MSHDA-approved lender that also is a Bank member. This will allow hundreds of Michigan’s first-time homebuyers to save money every month on their mortgage.

    “Every Michigander should be able to raise their family in a home they love,” said Lt. Governor Garlin Gilchrist II. “That is why we have made historic investments to build or rehabilitate 34,000 housing units and announced the largest housing investment in state history. The MSHDA Rate Relief Mortgage program will lower the mortgage interest rate for eligible homebuyers by a full percentage point, saving families hundreds each year, keeping money in their pockets, and helping more Michigan families achieve their dream of homeownership. Let’s keep working together to build more affordable housing and create a brighter future for Michigan families.”

    FHLBank Indianapolis is supporting the program by purchasing a $50 million MSHDA bond (Series F), allowing Bank members the opportunity to sell single-family mortgage loans to MSHDA at below-market rates.

    “Everyone should have the opportunity to own a home,” said Cindy Konich, President and CEO of FHLBank Indianapolis. “That’s why the MSHDA Rate Relief Mortgage Program — and our growing partnership with MSHDA — is so important. It reflects our shared vision and values of providing affordable housing solutions, eliminates financing barriers, and opens the door to a brighter future for hundreds of first-time homebuyers in Michigan.”

    Amy Hovey, CEO and Executive Director of MSHDA, agreed.

    “This program is a game changer for Michigan families. Saving first-time homebuyers a full percentage point on their mortgages will make a big difference, helping more families make it in Michigan,” Hovey said.

    MSHDA’s Homeownership Division offers mortgages with competitive interest rates, connections to homebuyer education and counseling, and up to $10,000 in down-payment assistance. Last year, this team backed mortgages and down-payment assistance worth more than $728 million, helping 5,082 first-time homebuyers achieve access to this important wealth-building tool. The Michigan Legislature is currently considering House Bill 5032, which would eliminate the current cap of $224,500 on mortgages eligible for MSHDA support.

    Key facts about the program:

    • Who’s eligible? First-time homebuyers with a qualifying income at or below 80% of Area Median Income (AMI); a credit score of 640 or higher; and must work through an FHLBank Indianapolis member that is also a MSHDA-participating lender.
    • Other qualifications: New or existing single-family residences, including some types of manufactured homes; 30-year terms; and a maximum sales price limit of $224,500 (per Michigan law. Other restrictions may apply.)
    • Launch date: The program opened Oct. 21, 2024, and will continue until funds are depleted on a first-come, first-served basis.
    • How to apply: Interested first-time homebuyers can get more information at their local lending institution. FHLBank Indianapolis members can find more specifics on the Bank’s MemberLink portal and through the Bank’s direct member communications.

    Current MSHDA participating lenders who also are FHLBank Indianapolis members are below:

    • 1st State Bank
    • Adventure Credit Union
    • Bank of Ann Arbor
    • Case Credit Union
    • ChoiceOne Bank
    • Commercial Bank
    • Dart Bank
    • Dort Federal Credit Union
    • Financial Plus Credit Union
    • First Merchants Bank (Level One Bank)
    • Grand River Bank
    • Horizon Bank
    • Independent Bank
    • Kellogg Community Credit Union
    • Lake Michigan Credit Union
    • Macatawa Bank
    • Mercantile Bank of MI
    • Metro Community Development, Inc.
    • Michigan First Mortgage, a division of Michigan First Credit Union
    • Northland Area Credit Union
    • Northpointe Bank
    • Superior National Bank and Trust
    • United Bank of Michigan
    • United Federal Credit Union
    • University Bank
    • West Shore Bank
         

    This is the second housing partnership the Bank and MSHDA have created this year. In January, they jointly announced the launch of the Tribal Nations Housing Development Assistance Program (TNHDAP). That program is aimed at building on tribal nations’ existing capacity and providing resources and support to develop affordable housing programs and projects that respond to their unique housing needs. FHLBank Indianapolis is supporting the program with a grant of up to $3 million.

    Media contacts:
    FHLBank Indianapolis Corporate Communications
    Scott Thien, Sr. Communications Lead
    sthien@fhlbi.com

    Michigan State Housing Development Authority (MSHDA)
    Katie Bach, Communications Director
    Partnerships and Engagement Division
    BachK@michigan.gov

    About Federal Home Loan Bank of Indianapolis:
    FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded, and they receive no Congressional appropriations. One of 11 independent regional cooperative banks across the U.S., FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit http://www.fhlbi.com and follow the Bank on LinkedIn, and Instagram and X at @FHLBankIndy.

    About MSHDA
    The Michigan State Housing Development Authority (MSHDA), established in 1966, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues.

    The MIL Network

  • MIL-Evening Report: This Atlanta neighborhood hired a case manager to address rising homelessness − and it’s improving health and safety for everyone

    Source: The Conversation (Au and NZ) – By Ishita Chordia, Ph.D. Candidate in Information Science, University of Washington

    Mural by artist Chris Wright on Metropolitan Avenue in East Atlanta. Art Rudick/Atlanta Street Art Map, CC BY-ND

    Homelessness has surged across the United States in recent years, rising 19% from 2016 though 2023. The main cause is a severe shortage of affordable housing. Rising homelessness has renewed debates about use of public space and how encampments affect public safety.

    The U.S. Supreme Court recently weighed in on these debates with its 2024 decision in Grants Pass v. Johnson. The court’s ruling grants cities the authority to prohibit individuals from sleeping and camping in public spaces, effectively condoning the use of fines and bans to address rising rates of homelessness.

    East Atlanta Village, a historically Black neighborhood in Atlanta with about 3,000 residents, is trying something different. In the fall of 2023, with support from the Atlanta City Council, the mayor’s office and Intown Cares, a local nonprofit that works to alleviate homelessness and hunger, the neighborhood hired a full-time social worker to support people experiencing homelessness.

    Michael Nolan, an Intown Cares social worker, is trained in an approach that emphasizes individual autonomy and dignity, recognizes that being homeless is a traumatic experience, and prioritizes access to housing. His role includes helping individuals get the documentation they need to move off the streets, such as copies of their birth certificates and Social Security cards. He also has a dedicated phone line that community members can use to alert him about dangerous situations that involve homeless people.

    Michael Nolan, East Atlanta Village’s social worker, spends 40-plus hours weekly providing supplies, services and other help to people experiencing homelessness.

    I am a researcher at the University of Washington studying programs and technologies that help urban neighborhoods flourish. I’m also a resident of East Atlanta Village and have helped the neighborhood organize and evaluate this experiment.

    For the past year, my colleagues and I have collected data about the neighborhood social work program to understand how well it can support both people without housing and the broader community. Our preliminary findings suggest that neighborhood social work is a promising way to address challenges common in many neighborhoods with homelessness.

    I believe this approach has the potential to provide long-term solutions to homelessness and improve the health and safety for the entire neighborhood. I also see it as a sharp contrast with the punitive approach condoned by the Supreme Court.

    Resolving conflicts over public space

    One of the people I interviewed while evaluating this initiative was Rebecca, a resident of East Atlanta Village who walks her dog in the local park every day. In the fall of 2023, she noticed that a man had moved into the park and set up a tent. At first, the area was clean, but within a few weeks there was garbage around the tent and throughout the park.

    Rebecca felt that the trash was ruining one of the few green spaces in the neighborhood. She decided to contact Nolan. Nolan told her that he knew the unhoused man, was working with him to secure permanent housing and in the meantime would help him move his tent to a less-frequented space.

    Such negotiations around public spaces are common challenges for neighborhoods with large homeless populations, especially in dense urban areas. Other examples in our data included conflicts when a homeless person began sleeping in his car outside another resident’s home, and when a homeless man wandered into a homeowner’s yard.

    The standard approach in these situations is to fine, ban or imprison the unhoused individual. But those strategies are expensive, can prolong homelessness and do little to actually resolve the issues.

    In contrast, hiring a social worker has enabled East Atlanta Village to resolve conflicts gently, through conversation and negotiation. The solutions address concerns about public health and safety and also offer people without homes an opportunity for long-term change.

    Meeting basic needs

    Over the past year, this program has helped 13 people move into housing. Nolan has facilitated over 180 medical and mental health care visits for people living on the street.

    Eighty-six people have been connected to Medicaid, food assistance or Social Security benefits. Thirty-five people have health care for the first time, and six people have started receiving medication for their addictions.

    Research shows that addressing people’s basic needs by helping them obtain food, medicine, housing and other necessities not only supports those individuals but also produces cascading benefits for the entire community. They include reduced inequality, better health outcomes and lower crime rates.

    Managing mental and behavioral health

    Studies have found that about two-thirds of unhoused individuals struggle with mental health challenges. Unmet mental and behavioral health needs can contribute to unsafe and illegal behavior.

    The United States does not have a comprehensive system in place for supporting people who are living on the street and struggling with chronic mental and behavioral health challenges. While much more infrastructure is needed, in East Atlanta Village, Nolan is able to check in on people experiencing homelessness, work with clinics to deliver medication for addiction and mental health needs and alert community members about dangerous situations.

    As an example, in December 2023 a homeless man was arrested in East Atlanta Village for trespassing, stealing mail and other erratic behavior. When concerned residents posted to the neighborhood Facebook group, Nolan responded that he knew the man well, that this behavior was not typical and that he would look into the situation.

    Nolan later updated his post, commenting that the man had been arrested but that he would “continue to follow up and ensure that his current behaviors do not return upon his release.”

    In other examples, Nolan has helped de-escalate situations when people experienced mental health episodes in local coffee shops and churches.

    A model for other cities

    Cities around the U.S. have decisions to make about addressing homelessness and its associated challenges. Neighborhood social work is not a magic bullet, but my colleagues and I see it as a promising approach to address the most common challenges that neighborhoods with high rates of homelessness face.

    East Atlanta Village is currently working with the Atlanta City Council to renew funding for this program, which cost US$100,000 in its initial year. We hope that other neighborhoods also consider this strategy when deciding how to address homelessness in their own areas.

    Ishita Chordia is affiliated with the East Atlanta Neighborhood Association. She volunteers for the neighborhood association and has helped organize and evaluate the neighborhood social work program.

    ref. This Atlanta neighborhood hired a case manager to address rising homelessness − and it’s improving health and safety for everyone – https://theconversation.com/this-atlanta-neighborhood-hired-a-case-manager-to-address-rising-homelessness-and-its-improving-health-and-safety-for-everyone-236466

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Global: What’s in a pantsuit? Kamala Harris’ and Donald Trump’s fashion choices say a lot about their personalities − and vision for the future

    Source: The Conversation – USA – By Therèsa M. Winge, Fashion Professor, Michigan State University

    Kamala Harris and Donald Trump have very different policy positions and political approaches − as well as fashion choices. Jacquelyn Martin/pool/AFP via Getty Images and Win McNamee/Getty Images

    Democratic presidential nominee Kamala Harris and Republican contender Donald Trump could not be more different – and this split between them extends far beyond politics and into their fashion choices.

    While Harris tends to wear form-fitting pantsuits and feminine tops, Trump opts for ill-fitting, boxy, navy suits and long red ties.

    All American politicians often wear American flag pins on their lapels, as well as red, white and blue clothing. But my research shows how fashion plays an important, symbolic role in politics that goes far beyond patriotism. A person’s appearance reflects their identity and how they want others to perceive them.

    It makes sense that political campaigns often work with professional stylists to dress and style their top candidates, as a way to define and reflect politicians’ different personalities, identities and policy positions.

    Kamala Harris arrives to speak at the Democratic National Convention on Aug. 22, 2024, wearing a dark blue pantsuit.
    Saul Loeb/AFP via Getty Images

    Harris’ professional, feminine look

    Harris typically wears an updated version of Hillary Clinton’s famous power pantsuits.

    While Clinton’s pantsuits during the 2016 presidential campaign had rigid silhouettes that did not show the shape of her body, Harris’ pantsuits are more relaxed and less formal.

    As a senator, Harris, alongside other Democratic female politicians, wore a white pantsuit to commemorate and celebrate the suffragettes.

    Harris now typically wears dark, bold hues, almost monochromatic ensembles, with either dark high heels or sneakers.

    At the Democratic National Convention in August 2024, Harris accepted the presidential nomination wearing a perhaps unsurprising navy blue pantsuit with the standard politician’s American flag pin on the lapel. She topped off the look with medium-heel dress shoes and a dark blue pussycat bow blouse, sometimes also called a lavallière. The pussycat bow blouse, which was popularized in the 1970s among professional women, is a feminine version of a traditional tie.

    This type of tie has a soft, floppy bow at the neck that can be tied in numerous ways.

    Harris’ decision to regularly wear pussycat bow blouses shows that she has a feminine flair, and it’s also a nod to past feminist icons who wore that type of bow.

    When Harris wears sneakers – which are often Chuck Taylors – with a pantsuit, it reminds me of how the actress Helen Hunt’s character wore practical commuter sneakers with business clothing in the 1990s and 2000s “Mad About You” TV series.

    The unlikely combination of a pantsuit with sneakers shows that Harris is a busy, professional woman – who is also youthful, energetic and relatable to other women.

    Walz’s American dad style

    Tim Walz speaks at a campaign rally in Volant, Pa., on Oct. 15, 2024, wearing one of his signature flannel shirts.
    Michael M. Santiago/Getty Images

    Harris’ running mate, Tim Walz, has also received public attention for his clothing choices.

    At the Democratic National Convention in August, former President Barack Obama remarked about Walz regularly wearing plaid, flannel shirts. “You can tell those flannel shirts he wears don’t come from some political consultant. They come from his closet, and they have been through some stuff,” Obama said.

    Walz’s typical outfits, including plaid shirts, jeans and a well-worn suit with the shirt collar unbuttoned and no tie, signals that he is authentic and relatable to the average American.

    This unofficial uniform also helps cement the public perception of Walz as an archetypal American coach and dad.

    The Harris-Walz campaign has capitalized on Walz’s image by selling merchandise that seems like something out of his closet.

    The campaign’s camouflage hat, which spells out “HARRIS WALZ” in a bold, orange font, has become an extremely popular item – selling out and resulting in the manufacturer scrambling to find materials and sewing machines to make more hats.

    Donald Trump and JD Vance attend a 9/11 remembrance ceremony at the World Trade Center at Ground Zero in New York City on Sept. 11, 2024.
    Adam Gray/AFP via Getty Images

    Vance’s and Trump’s aesthetics

    Republican politicians also show who they are, or who they want to be, through their fashion choices. Republican vice presidential nominee JD Vance, for example, has noticeably changed his appearance from when he first became involved in politics a few years ago to when he became a senator in 2023.

    In 2017, Vance often wore jeans, a button-down, open-collar shirt and an unbuttoned blazer during his book tour. When he was elected as a senator in 2023, he began wearing suits and ties.

    More recently, Vance began dressing in the unofficial Make America Great Again uniform, consisting of a tailored dark blue suit, red tie and white shirt with dark shoes. With this outfit choice, Vance is wrapping himself in red, white and blue, referencing the American flag and signaling his patriotism.

    Trump wears a nearly identical political uniform that has become instantly recognizable and closely associated with conservative politicians.

    When Trump selected Vance as his running mate in July 2024, Vance also dyed his gray hair to brown to possibly appear more youthful. Perhaps it became more important for Vance to appear younger after 81-year-old President Joe Biden stepped down from the Democratic ticket and 60-year-old Harris became the presidential candidate.

    Beyond the campaign, in February 2024, Trump released 1,000 pairs of limited edition high-top sneakers called “Never Surrender.” These shoes, which quickly sold out, were covered in gaudy, gold lamé and had an American flag printed around the collar of the sneakers.

    I recently found several examples of pairs of Trump sneakers for sale on eBay and other online shops for thousands of dollars.

    People at a Trump rally in Las Vegas hold a pair of his gold sneakers on Sept. 13, 2024.
    Patrick T. Fallon/AFP via Getty Images

    Fashion on both sides

    Harris’ monochromatic blouses and pantsuit with sneakers combination, alongside Walz’s Midwestern dad outfits, will likely help the campaign’s effort for its candidates to appear as relatable to many working class voters and women.

    Likewise, Trump’s classic MAGA red hat and tie, in addition to Vance’s similar uniform of navy blue suit, white button-down shirt and red tie, evoke their focus on masculine conservatism.

    The candidates’ styles don’t tell voters any details about campaign promises or political policies, but they do give an idea of who the candidates think they are.

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

    ref. What’s in a pantsuit? Kamala Harris’ and Donald Trump’s fashion choices say a lot about their personalities − and vision for the future – https://theconversation.com/whats-in-a-pantsuit-kamala-harris-and-donald-trumps-fashion-choices-say-a-lot-about-their-personalities-and-vision-for-the-future-240084

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: UK commits additional £3 million to bolster aid to Syria

    Source: United Kingdom – Executive Government & Departments

    The UK has announced an additional £3 million to bolster aid to Syria.

    • FCDO will provide emergency healthcare and protection assistance to women and girls fleeing the conflict in Lebanon.
    • £3m package to support those most in need, as 400,000 people are displaced into Syria due to conflict in Lebanon.
    • Minister for Development Anneliese Dodds continues UK call for displaced civilians to be protected and given safe passage away from the violence.

    The most vulnerable civilians fleeing the Lebanon conflict into Syria will be provided with life-saving emergency assistance and healthcare, as the UK boosts its humanitarian support with a £3 million package.

    Taking refuge from the escalating conflict, more than 400,000 people – over half of whom are women and children – are estimated by the UN to have been displaced from Lebanon into Syria since September. The majority of those who have been displaced are Syrians, who initially fled to Lebanon after the Syrian civil war which began in 2014.

    The UK funding will help trusted aid organisations to deliver immediate healthcare at border crossings, including trauma and injury support, as well as targeted protection assistance for women and girls.

    Minister for Development Anneliese Dodds said:

    The humanitarian situation in Lebanon and the wider Middle East is extremely concerning. It is critical that vulnerable civilians fleeing the conflict in Lebanon are given safe passage, and for their lives to be protected.

    Today’s package of emergency assistance will provide support to those most in need as they continue to risk their lives to make this dangerous journey.

    Of the £3 million in funding, £2 million has been allocated to the UN OCHA led Syria Humanitarian Fund, with £500,000 given to both the International Medical Corps UK and UNFPA.

    International Medical Corps UK Country Director Wafaa Sadek said:

    This new contribution builds on the generous support from the FCDO, helping the International Medical Corps to deliver essential healthcare and humanitarian aid to people crossing from Lebanon into Syria.

    Thanks to FCDO funding, International Medical Corps has already deployed three Mobile Medical Teams to address the growing needs—one serving Damascus and Rural Damascus, another covering Latakia and Tartous, and a third focusing on Hama and Homs governorates.

    This announcement follows more than £4 billion of funding that the UK has contributed since 2011 in lifesaving and life-sustaining assistance for the victims of the crisis in Syria – its largest ever response to a single humanitarian crisis.

    In Lebanon, we have already announced £10 million of aid to respond to a widespread lack of shelter, and reduced access to clean water, hygiene and healthcare. This is in addition to £5 million already provided to UNICEF. The government is also supporting the DEC Middle East Humanitarian Appeal, with the government aid matching up to £10 million raised by the public. 

    The UK is clear that a wider regional conflict must be avoided at all costs and is committed to working with partners to secure a ceasefire on all sides.

    Notes to Editors:

    • Today’s allocation of funding comes from the UK’s annual Overseas Development Assistance (ODA) package for Syria, which is totalled at £97m for FY 24-25.
    • In addition, £6m will be released from the Central Emergency Response Fund (CERF) – to which the UK contributes centrally and is a leading donor– for the UN response to new arrivals from Lebanon in Syria.
    • Syria remains an unsafe destination for vulnerable people, including Syrian refugees, who should only return to Syria voluntarily in a safe and dignified manner.
    • UK commits additional £10 million of aid to Lebanon – GOV.UK

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Lord Mayor of London’s Dinner for HM Judges 2024: Lord Chancellor’s Speech

    Source: United Kingdom – Executive Government & Departments

    At this annual event for HM Judges the Rt Hon Shabana Mahmood MP spoke about the importance of prisons in maintaining the rule of law.

    Political content has been removed from this transcript

    My Lord Mayor, Lady Mayoress, my Lady Chief Justice, members of His Majesty’s judiciary, ladies and gentlemen.

    I want to thank Michael [Mainelli, Lord Mayor] and Elisabeth [Reuß, Lady Mayoress] for hosting us this evening…

    And express my gratitude for their year of service to the City of London…

    I am looking forward to welcoming the next Lord Mayor, Alastair King, in a ceremony at the House of Lords on Monday.

    As the first Muslim Lord Chancellor, I’m afraid I won’t partake in sipping port from the Loving Cups…

    But I am looking forward to the shortbread.

    Let me say what an honour it is to be here for the first time as Lord Chancellor.

    Unlike most of my 11 predecessors across the last 14 years…

    It will not also be my last.

    I understand that, in the past, my predecessors have peppered these speeches with humour.

    But you may have seen the very serious announcements that I made earlier today…

    And so, sadly, this is not a time for levity.

    Instead, I want to take this opportunity to explain why I had to make them and what they mean.  

    But let me start with something that should never be contentious: the rule of law.

    My parents came to the UK just a few decades ago…

    Leaving a country created by partition. 

    They were so-called ‘Mangla Dam affectees’…

    A people whose land was seized and then flooded by an overbearing and unaccountable state.

    But when they came here, to Britain…

    They found a home where no one is above the law – not even a government… 

    And where no one can fall below it either.

    It was that inheritance…

    And an argumentative disposition…

    That led me to the bar…

    And left me with an enduring belief in the sanctity of the rule of law…

    The most enduring of British values.

    That defines who we are and how our country works.

    Here, the law rules, not the mob…

    And our disagreements are resolved through the careful crafting of arguments.

    This Great British value is also of great value to Britain…

    Underpinning our economy…

    Giving businesses, large and small, the confidence to trade….

    In the knowledge that any disputes that arise will be settled fairly.

    In every instance, those who come before the courts…

    Know that their case will be decided on the facts by learned judges – by you…

    And that those judgments will be done without interference or commentary…

    From politicians like me or my colleagues.

    The oath that I swore when I took this job: to respect the rule of law and defend the independence of the judiciary…

    Is one that I take extremely seriously.

    It was at the forefront of my mind when I was appointed as Lord Chancellor.

    Our prisons were not just in crisis…

    They were on the point of collapse.

    Weeks away from running out of space altogether.

    And had that happened, the consequences are hard to contemplate:

    The police unable to make arrests…

    Your courts forced to cancel trials.

    Justice would have come to a grinding halt.

    As my officials explained the enormity of the situation…

    My oath rang in my ears.

    Would I be the Lord Chancellor who days after swearing to uphold the rule of law…

    Oversaw the breakdown of law and order?

    I had no choice but to take drastic action…

    To make sure the justice system could continue to function…

    Anything else would have been a betrayal of my constitutional duty.

    I simply could not allow that to happen.

    So, I took the decision to bring forward the release point for some prisoners serving standard determinate sentences…

    From the usual 50 percent to 40 percent…

    Spending the remainder on strict licence conditions in the community.

    The first releases happened in September and more took place today.

    Given the disgraceful disorder just a few weeks after we took office, the necessity of that decision was soon apparent.

    At one point, the prison places remaining in the adult male estate…

    Fell into double figures.

    And let me place on record, once again, my deepest thanks for all that you did this summer…

    Handing down justice, swiftly, to those responsible.

    I have no doubt at all that your work brought that disorder to a halt.

    The measures that I was forced to take…

    To bring our prisons back from the brink…

    Were not a long-term solution.

    So today, in parliament, I set out a long-term plan for our prisons…

    To ensure the scenes that we have witnessed today, of the emergency release of prisoners, are never witnessed again.

    And that starts by building more prisons.

    But we must be honest:  

    We cannot build our way out of this crisis.

    This isn’t a matter of ideology.

    It is simple mathematics.

    Every year, our prison population grows by around 4,500 prisoners…

    To keep up with that demand would require us to build the equivalent of HMP Birmingham, in my own constituency, four and a half times over, every single year.  

    We simply cannot build that fast.

    For that reason, I have today launched a landmark review of sentencing.

    It will have one clear goal:

    To ensure we are never again in a position where we have more prisoners than space in our prisons.

    The review will follow 3 principles:

    First, sentences must punish offenders and protect the public.

    For dangerous offenders, prison will always remain the answer.

    Punishment and public protection will be this government’s first priority.

    There will be dangerous offenders who must always receive a custodial sentence…

    And there must always be space in our prisons for them.

    The second principle of the review is that sentences must encourage offenders to turn their backs on lives of crime.

    The system needs both sticks and carrots.

    In this, I will be encouraging the reviewers to learn from those who have succeeded in other jurisdictions.

    The third principle of the review will be to expand punishment that offenders receive outside of prison.

    There are already ways that we severely constrain offenders…

    Limiting their freedom outside of prison.

    Those under Home Detention Curfews are, in practice, under a highly effective form of house arrest.

    And sobriety tags enforce teetotalism almost as strict as my own.

    And we must explore how the next generation of technology can ensure the eyes of the state follow an offender on the outside…

    As closely – or even more so – than a prison officer, on the inside.

    Moving punishment out of prison – for those who can be safely managed there – has huge benefits:

    Outside of prison, offenders can engage in work that pays back the communities and individuals who they have harmed.

    And the evidence is clear that those who serve their sentences outside prison are far less likely to reoffend…

    Making our streets safer…

    And reducing the cost to society of reoffending, which has been most recently valued at over £22bn a year.

    I am pleased to say that the review will be led by a former Lord Chancellor, David Gauke…

    A highly regarded Minister who served in multiple roles across government…

    And who I know earned the trust and respect of many of you in the room this evening.

    I will work with him to assemble a panel of reviewers who will draw together deep expertise and experience in the criminal justice system…

    Including judicial colleagues.

    And the review will take a bipartisan and evidence-based look at an issue that has – for far too long – been a political football, booted around by both sides.

    David Gauke will report back with his recommendations in the Spring…

    And I look forward to discussing them with the senior judiciary then.

    I know that for many in this room, it may seem like this government is preoccupied with what is happening in our prisons…

    Where an acute crisis could easily shroud the great challenges that we face across our justice system.

    I want you to know that I fully recognise all of those challenges…

    I know our courts backlogs are at historic highs…

    That, for far too many victims, justice delayed now means justice denied.

    I know you are working under immense pressure…

    In the delivery of justice…

    And in the defence of the rule of law.

    This government will support you.

    Speaking before a budget, my lips are – by necessity – sealed.

    But let me say this:

    This government will pursue the hard work of restoring and reforming our justice system.

    We will support you in delivering justice more swiftly…

    We will promote this country’s standing as a global beacon of the rule of law…

    And we will back our legal sector, which is so vital to this government’s mission to kickstart economic growth.

    All this, I must acknowledge, will take time.

    I know that you have grown weary of the merry-go-round of Lord Chancellors…

    Holding this ancient office for the blink of an eye…

    With every judges’ dinner yet another introduction…

    More warm words and bromides from the new Lord Chancellor…

    Who promises the world but goes out with a whimper.

    This time, it will be different.

    I am a Lord Chancellor who is here for the long haul.

    I won’t hide the difficulty of the job at hand.

    But nor will I resile from the hard work of pursuing it.

    I will, I must admit, need your support along the way.

    When times are good…

    And when we agree…

    We will support each other.

    And when we disagree, as I am sure we will on occasion…

    We must be frank with each other, albeit in private…

    Always critical friends in the pursuit of a shared endeavour.

    As I mentioned earlier, the rule of law runs strongly through my background.

    My parents did not study Magna Carta, Habeas Corpus and the Bill of Rights, as I would go on to do.  

    But they had a strong sense when they arrived here from rural Kashmir…

    That this country was different…

    Because it has rules to which all people are subject.

    That inheritance from my parents only grew stronger…

    As I went on to practise and was then elected to Parliament.  

    My personal commitment to the rule of law is something you should never doubt.  

    I hope I have shown already that I am willing to take the difficult and even unpopular decisions required to ensure that justice can be done in this country.

    It is a habit I intend to keep…

    As we, together, uphold the rule of law and promote justice…

    Through a period of great challenge, but also of great opportunity.

    It is an honour to be here with you this evening, as we embark upon it.

    Which leaves me only to thank our gracious hosts, who have brought us here together…

    So let’s raise our glasses and toast:

    The Lord Mayor and Lady Mayoress!  

    Thank you.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Passage of rating bill welcomed

    Source: Hong Kong Information Services

    The Government welcomed the passage of the Rating (Amendment) Bill 2024 by the Legislative Council today, which gives effect to the progressive rating system for domestic tenements.

    The bill will take effect from the fourth quarter of this financial year, ie January to March 2025, to uphold the “affordable users pay” principle.

    Starting from the fourth quarter, domestic tenements with a rateable value (RV) of $550,000 or below will continue to be charged rates at 5% of the RV. For domestic tenements with an RV exceeding $550,000, rates will be charged at the same rate of 5% for the first $550,000, 8% for the next $250,000, and 12% for the remaining RV.

    Secretary for Financial Services & the Treasury Christopher Hui said the progressive rating system endeavours to strike a balance between upholding the “affordable users pay” principle and minimising the number of ratepayers affected.

    Mr Hui noted in formulating the progressive rating system, the Government has taken into account a basket of factors, including the affordability of ratepayers of domestic tenements, the market rentals as reflected in the RV, the number of affected ratepayers and the amount of additional rates to be paid, the estimated increase in revenue from rates as well as the fundamental principle of maintaining a simple rating system.

    He said the progressive rating system is part of the Government’s comprehensive fiscal consolidation programme. It is expected that government revenue will increase by about $820 million each year.

    The affected domestic tenements account for about 1.9% of the total number of private domestic tenements in Hong Kong, Mr Hui added.

    Non-domestic tenements, including those used for business activities or social services, will not be subject to the progressive rating system.

    The bill will be gazetted on November 1.

    The Rating & Valuation Department will inform the affected ratepayers, and the quarterly demands to be issued in the fourth quarter of this financial year will reflect the progressive rates for applicable cases.

    MIL OSI Asia Pacific News

  • MIL-OSI Global: How beef became a marker of American identity

    Source: The Conversation – USA – By Hannah Cutting-Jones, Assistant Professor, Department of Global Studies; Director of Food Studies, University of Oregon

    Beef dominates American diets. In 2022, Americans consumed almost 30 billion pounds of beef. Johnrob/E+ via Getty Images

    Beef is one of America’s most beloved foods. In fact, today’s average American eats three hamburgers per week.

    American diets have long revolved around beef. On an 1861 trip to the United States, the English novelist Anthony Trollope marveled that Americans consumed twice as much beef as Englishmen. Through war, industry, development and settlement, America’s love of beef continued. In 2022, the U.S. as a whole consumed almost 30 billion pounds (13.6 billion kilograms) of it, or 21% of the world’s beef supply.

    Beef has also reached iconic status in American culture. As “Slaughterhouse-Five” author Kurt Vonnegut once penned, “Being American is to eat a lot of beef, and boy, we’ve got a lot more beef steak than any other country, and that’s why you ought to be glad you’re an American.”

    In part, the dominance of beef in American cuisine can be traced to settler colonialism, a form of colonization in which settlers claim – and then transform – lands inhabited by Indigenous people. In America, this process centered on the systemic and often violent displacement of Native Americans. Settlers brought with them new cultural norms, including beef-heavy diets that required massive swaths of land for grazing cattle.

    As a food historian, I am interested in how, in the 19th century, the beef industry both propelled and benefited from colonialism, and how these intertwined forces continue to affect our diets, culture and environment today.

    Cattle and cowboys

    Beginning in the 16th century, the first Europeans to settle across the Americas – and later, Australia and New Zealand – brought their livestock with them. A global economy built on appropriated Indigenous territories allowed these nations to become among the highest consumers and producers of meat in the world.

    The United States in particular tied its burgeoning national identity and westward expansion to the settlement and acquisition of cattle-ranching lands. Until 1848, Arizona, California, Texas, Nevada, Utah, western Colorado and New Mexico were part of Mexico and inhabited by numerous tribes, Indigenous cowboys and Mexican ranchers.

    The Mexican-American War, which lasted from 1846-48, led to 525,000 square miles being ceded to the United States – land that became central to American beef production. Gold, discovered in the northern Sierra by 1849, drew hundreds of thousands more settlers to the region.

    The desire for cattle-supporting land played an integral role in the systematic decimation of bison populations, as well. For thousands of years, Native Americans relied on bison for physical and cultural survival. At least 30 million roamed the western United States in 1800; by 1890, 60 million head of cattle had taken their place.

    Beef replaces bison

    It is no coincidence that the rise of an extensive and powerful American beef industry coincided with the near-elimination of bison across the United States.

    Bison populations were already in steep decline by the mid-1800s, but after the Civil War, as industrialization transformed transportation, communication and mass production, the U.S. Army actively encouraged the wholesale slaughter of bison herds.

    In 1875, Philip Sheridan, a general in the U.S. Army, applauded the impact bison hunters could have on the beef industry. Hunters “have done more in the last two years, and will do more in the next year, to settle the vexed Indian question, than the entire regular army has done in the last forty years,” Sheridan said. “They are destroying the Indians’ commissary … (and so) for a lasting peace, let them kill, skin and sell until the buffaloes are exterminated. Then your prairies can be covered with speckled cattle.”

    In 1884, with no hint of irony, the U.S. Department of Indian Affairs constructed a slaughterhouse on the Blackfeet Reservation in Montana and required tribal members to provide the factory’s labor in exchange for its beef.

    By 1888, New York politician and sometimes rancher Theodore Roosevelt described Western stockmen as “the pioneers of civilization,” who with “their daring and adventurousness make the after settlement of the region possible.” Later, during Roosevelt’s presidency – from 1900 to 1908 – the U.S. claimed another 230 million acres of Indigenous lands for public use, further opening the West to ranching and settlement.

    The Union Stock Yards in Chicago, the most modern slaughterhouse of the era, opened on Christmas Day in 1865 and marked a turning point for industrial beef production. No longer delivered “on the hoof” to cities, cattle were now slaughtered in Chicago and sent East as tinned meat or, after the 1870s, in refrigerated railcars.

    Processing over 1 million head of cattle annually at its height, the Union Stock Yards, a global technological marvel and international tourist attraction, symbolized industrial progress and inspired national pride.

    Beef consumption has become part of the American origin myth of rugged individualism.
    pastorscott via Getty Images.

    Where’s the beef?

    By the turn of the 20th century, beef was solidly linked to American identity both at home and globally. In 1900, the average American consumed over 100 pounds of beef per year, almost twice the amount eaten by Americans today.

    Canadian food writer Marta Zaraska argues in her 2021 book “Meathooked” that beef became a key part of the American origin myth of rugged individualism that was emerging at this time. And cowboys, working the grueling cattle drives, came to embody values linked to the frontier: self-reliance, strength and independence.

    Popular for decades as a street food, America’s proudest culinary invention – the hamburger – debuted at the St. Louis World’s Fair in 1904 alongside other novelties such as Dr. Pepper and ice cream.

    After World War II, suburban markets and fast-food chains dominated the American foodscape, where beef burgers reigned supreme. By the end of the century, more people around the globe recognized the golden arches of McDonald’s than the Christian cross.

    At the same time, national programs reinforced food insecurity for Native Americans. In efforts to eventually dissolve reservations and open these lands to private development, for example, in 1952 the U.S. government launched the Voluntary Relocation Program, in which the Bureau of Indian Affairs persuaded many living on reservations to move to cities. The promised well-paying jobs did not materialize, and most of those who relocated traded rural for urban poverty.

    The true cost of a burger

    Plant- and lab-based meat companies are making headway into restaurants and food markets.
    coldsnowstorm/iStock via Getty Images Plus

    Policies encouraging settler colonialism ultimately led to more sedentary lifestyles and a dependence on fast, convenient and processed foods – such as hamburgers – regardless of the individual or environmental costs.

    In recent decades, scientists have warned that industrial meat production, and beef in particular, fuels climate change and leads to deforestation, soil erosion, species extinction, ocean dead zones and high levels of methane emissions. It is also a threat to biodiversity. Nutritionist Diego Rose believes the best way “to reduce your carbon footprint (is to) eat less beef,” a view shared by other sustainability experts.

    As of January 2022, about 10% of Americans over the age of 18 considered themselves vegetarian or vegan. Another recent study found that 47% of American adults are “flexitarians” who eat primarily, but not wholly, plant-based diets.

    At the same time, small-scale farmers and cooperatives are working to restore soil health by reintegrating cows and other grazing animals into sustainable farming practices to produce more high-quality, environmentally friendly meat.

    More encouraging still, tribes in Montana – Blackfeet Nation, Fort Belknap Indian Community, Fort Peck Assiniboine and Sioux Tribes, and South Dakota’s Rosebud Sioux – have reintroduced bison to the northern Great Plains to revive the prairie ecosystem, tackle food insecurity and lessen the impacts of climate change.

    Even so, in the summer of 2024, Americans consumed 375 million hamburgers in celebration of Independence Day – more than any other food.

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

    ref. How beef became a marker of American identity – https://theconversation.com/how-beef-became-a-marker-of-american-identity-214824

    MIL OSI – Global Reports

  • MIL-OSI Global: Americans use the Book of Revelation to talk about immigration – and always have

    Source: The Conversation – USA – By Yii-Jan Lin, Associate Professor of New Testament and Public Voices Fellow, Yale University

    A French tapestry depicts Saint John the Evangelist gazing at the New Jerusalem. Octave 444 via Wikimedia Commons

    During a campaign speech in Latrobe, Pennsylvania, on Oct. 19, 2024, Donald Trump promised to save the country from immigrants: “I will rescue every town across America that has been invaded and conquered, and we will put these vicious and bloodthirsty criminals in a jail or kick them out of our country.”

    Depicting immigrants as a threat has been a pillar of Trump’s message since 2015. And the types of terms he uses aren’t just disparaging. It might not seem like it, but Trump is continuing a long tradition in American politics: using language shaped by the Bible.

    When the former president says those at the border are “poisoning the blood of our country,” “animals” and “rapists,” his vocabulary mirrors verses from the New Testament. The Book of Revelation, the last book of the Bible, says those kept out of the city of God are “filthy”; they are “dogs and sorcerers and sexually immoral and murderers and idolaters and everyone who loves and practices falsehood.”

    In fact, Americans have been using the Bible for centuries to talk about immigrants, especially those they want to keep out. As a scholar of the Bible and politics, I’ve studied how language from Revelation shaped American ideas about who belongs in the United States – the focus of my book, “Immigration and Apocalypse.”

    The shining city

    The Book of Revelation describes a vision of the end of the world, when the wicked are punished and the good rewarded. It tells the story of God’s enemies, who worship the evil Beast of the Sea, bear his mark on their body and threaten God’s people. Because of their wickedness, they suffer diseases, catastrophes and war until they are finally destroyed in the lake of fire.

    God’s followers, however, enter through the gates of the walls surrounding the New Jerusalem, a holy city that comes down from heaven. God’s chosen people enter through the gates and live in the shining city for eternity.

    18th century evangelists like the English preacher John Wesley urged sinners to take the path of righteousness, toward the New Jerusalem.
    Photo 12/Universal Images Group via Getty Images

    Throughout American history, many of its Christian citizens have imagined themselves as God’s saints in the New Jerusalem. Puritan colonists believed they were establishing God’s kingdom, both metaphorically and literally. Ronald Reagan likened the nation to the New Jerusalem by describing America as a “shining city … built on rocks stronger than oceans, wind-swept, God-blessed, and teeming with people of all kinds living in harmony and peace,” but with city walls and doors.

    Reagan was specifically quoting Puritan John Winthrop, one of the founders of Massachusetts Bay Colony, whose use of the “city on a hill” phrase quotes Jesus’ Sermon on the Mount. But Reagan’s detailed description closely matches that of the New Jerusalem in Revelation 21. Like God’s heavenly city, Reagan’s picture of America also has strong foundations, walls and gates, and people from every nation bringing in tribute.

    Barring the gates

    If people imagine the U.S. as God’s city, then it’s easy also to imagine enemies who want to invade that city. And this is how unwanted immigrants have been depicted through American history: as enemies of God.

    In the 19th century, when virtually all politicians were Protestant, anti-Catholic politicians accused Irish immigrants of bearing the “mark of the Beast” and being loyal to the “Antichrist”: the pope. They claimed that Irish immigrants could form an unholy army against the nation.

    At the turn of the century, “yellow peril” novels against Chinese immigration imagined a heathen horde taking over the U.S. At the end of one such book, China itself is depicted as a satanic “Black Dragon,” forcing its way through “the Golden Gate” of America.

    ‘Uncle Sam’s Farm in Danger’: an 1878 cartoon by G. F. Keller depicts Chinese emigrants fleeing famine.
    The Wasp via Wikimedia Commons

    And all immigrant groups who were unwanted at one time or another have been accused of being “filthy” and diseased, like the enemies of God in Revelation. Italians, Jews, Irish, Chinese and Mexicans were all, at some point, targeted as unhealthy and carrying illness.

    In political cartoons from the turn of the 20th century, Eastern European and Jewish immigrants were depicted as rats, while Chinese immigrants were portrayed as a horde of grasshoppers – echoing imagery from Revelation, where locusts with human faces swarm the Earth. During COVID-19, an event itself considered apocalyptic, xenophobic fear has focused on Asian Americans and migrants at the U.S.-Mexico border.

    This constellation of labels from Revelation – plague-bearing, bestial, invading, sexually corrupt, murderous – has been reused and recycled throughout American history.

    A 1909 political cartoon by S.D. Ehrhart.
    Library of Congress

    ‘Heaven has a wall’

    Trump himself has described immigrants as diseased, “not human,” sexual assaulters, violent and those “who don’t like our religion.”

    Others have more explicitly used images from Revelation to talk about immigration. Pastor Robert Jeffress, who preached at Trump’s 2017 inauguration church service, told viewers on Fox News’ “Fox & Friends,” “God is not against walls, walls are not ‘un-Christian,’ the Bible says even heaven is going to have a wall around it.” The Conservative Political Action Conference held a panel in 2017 titled “If Heaven Has a Gate, A Wall, and Extreme Vetting, Why Can’t America?” There are even bumper stickers that say, “Heaven Has A Wall and Strict Immigration Policy / Hell Has Open Borders.”

    Revelation 21 indeed describes the heavenly New Jerusalem with a massive shining wall, “clear as crystal,” with pearls for gates. Trump, similarly, talks about his “big, beautiful door,” set in a “beautiful,” massive wall that also has to be “see-through.”

    The city of God metaphor has long been a tool for American leaders – both to idealize the nation and to warn against immigration. But the concept of a walled-in city seems increasingly outdated in a digitally connected, global world.

    As migration continues to rise around the world due to climate change and conflict, I’d argue that these metaphors and the attitudes they drive are not just obsolete, but exacerbating crisis.

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

    ref. Americans use the Book of Revelation to talk about immigration – and always have – https://theconversation.com/americans-use-the-book-of-revelation-to-talk-about-immigration-and-always-have-240969

    MIL OSI – Global Reports

  • MIL-OSI Global: Both Harris and Trump have records on space policy − an international affairs expert examines where they differ when it comes to the final frontier

    Source: The Conversation – USA – By Thomas G. Roberts, Postdoctoral Fellow in International Affiars, Georgia Institute of Technology

    Neither candidate has talked much about space policy on the campaign trail, but both have records to consider. Anton Petrus/Moment via Getty Images

    The next president of the United States could be the first in that office to accept a phone call from the Moon and hear a woman’s voice on the line. To do so, they’ll first need to make a series of strategic space policy decisions. They’ll also need a little luck.

    Enormous government investment supports outer space activities, so the U.S. president has an outsize role in shaping space policy during their time in office.

    Past presidents have leveraged this power to accelerate U.S. leadership in space and boost their presidential brand along the way. Presidential advocacy has helped the U.S. land astronauts on the surface of the Moon, establish lasting international partnerships with civil space agencies abroad and led to many other important space milestones.

    But most presidential candidates refrain from discussing space policy on the campaign trail in meaningful detail, leaving voters in the dark on their visions for the final frontier.

    For many candidates, getting into the weeds of their space policy plans may be more trouble than it’s worth. For one, not every president even gets the opportunity for meaningful and memorable space policy decision-making, since space missions can operate on decades-long timelines. And in past elections, those who do show support for space initiatives often face criticism from their opponents for their high price tags.

    But the 2024 election is different. Both candidates have executive records in space policy, a rare treat for space enthusiasts casting their votes this November.

    As a researcher who studies international affairs in outer space, I am interested in how those records interface with the strategic and sustainable use of that domain. A closer look shows that former President Donald Trump and Vice President Kamala Harris have used their positions to consistently prioritize U.S. leadership in space, but they have done so with noticeably different styles and results.

    Trump’s space policy record

    As president, Trump established a record of meaningful and lasting space policy decisions, but did so while attracting more attention to his administration’s space activities than his predecessors. He regularly took personal credit for ideas and accomplishments that predated his time in office.

    The former president oversaw the establishment of the U.S. Space Force and the reestablishment of the U.S. Space Command, as well as the National Space Council. These organizations support the development and operation of military space technologies, defend national security satellites in future conflicts and coordinate between federal agencies working in the space domain.

    While president, Donald Trump oversaw the creation of the U.S. Space Force.
    AP Photo/Alex Brandon

    He also had the most productive record of space policy directives in recent history. These policy directives clarify the U.S. government’s goals in space, including how it should both support and rely on the commercial space sector, track objects in Earth’s orbit and protect satellites from cyber threats.

    He has called his advocacy for the creation of the Space Force one of his proudest achievements of his term. However, this advocacy contributed to polarized support for the new branch. This polarization broke the more common pattern of bipartisan public support for space programming.

    Like many presidents, not all of Trump’s visions for space were realized. He successfully redirected NASA’s key human spaceflight destination from Mars back to the Moon. But his explicit goal of astronauts reaching the lunar surface by 2024 was not realistic, given his budget proposal for the agency.

    Should he be elected again, the former president may wish to accelerate NASA’s Moon plans by furthering investment in the agency’s Artemis program, which houses its lunar initiatives.

    He may frame the initiative as a new space race against China.

    Harris’ space policy record

    The Biden administration has continued to support Trump-era initiatives, resisting the temptation to undo or cancel past proposals. Its legacy in space is noticeably smaller.

    As the chair of the National Space Council, Harris has set U.S. space policy priorities and represented the United States on the global stage.

    As vice president, Harris has chaired the National Space Council.
    NASA/Joel Kowsky, CC BY-NC-ND

    Notably, the Trump administration kept this position that the president can alter at will assigned to the vice president, a precedent the Biden administration upheld.

    In this role, Harris led the United States’ commitment to refrain from testing weapons in space that produce dangerous, long-lasting space debris. This decision marks an achievement for the U.S. in keeping space operations sustainable and setting an example for others in the international space community.

    Like some Trump administration space policy priorities, not all of Harris’ proposals found footing in Washington.

    The council’s plan to establish a framework for comprehensively regulating commercial space activities in the U.S., for example, stalled in Congress.

    If enacted, these new regulations would have ensured that future space activities, such as private companies operating on the Moon or transporting tourists to orbit and back, pass critical safety checks.

    Should she be elected, Harris may choose to continue her efforts to shape responsible norms of behavior in space and organize oversight over the space industry.

    Alternatively, she could cede the portfolio to her own vice president, Minnesota Gov. Tim Walz, who has virtually no track record on space policy issues.

    Stability in major space policy decisions

    Despite the two candidates’ vastly different platforms, voters can expect stability in U.S. space policy as a result of this year’s election.

    Given their past leadership, it is unlikely that either candidate will seek to dramatically alter the long-term missions the largest government space organizations have underway during the upcoming presidential term. And neither is likely to undercut their predecessors’ accomplishments.

    Thomas G. Roberts is affiliated with the Center for Strategic and International Studies.

    ref. Both Harris and Trump have records on space policy − an international affairs expert examines where they differ when it comes to the final frontier – https://theconversation.com/both-harris-and-trump-have-records-on-space-policy-an-international-affairs-expert-examines-where-they-differ-when-it-comes-to-the-final-frontier-238289

    MIL OSI – Global Reports

  • MIL-OSI Global: Why the margin of error matters more than ever in reading 2024 election polls – a pollster with 30 years of experience explains

    Source: The Conversation – USA – By Doug Schwartz, Director of the Quinnipiac Poll, Quinnipiac University

    A political opinion poll aims to get a representative sample of the wider public. borzaya/iStock / Getty Images Plus

    In just about any discussion of a poll about the very close presidential race between Vice President Kamala Harris and former President Donald Trump, you’ll hear the phrase “within the poll’s margin of error.” Those words signal that it is a tight race with no clear leader, even if one of them has a slightly larger percentage of support, like 48% to 47%.

    As the director of the Quinnipiac University Poll, which has been taking the pulse of the public on policy issues and elections for the past 30 years, I’ve noted that people have been paying more attention to this technical term since at least 2016.

    In that year, some polls in Florida, for example, indicated that Hillary Clinton was just a couple of percentage points ahead of Trump. Journalists and the public largely – and incorrectly – understood that apparent popular-vote lead to mean Clinton was likely to win.

    But those 1 or 2 percentage points were within their polls’ margins of error. And Clinton lost Florida. In a poll about a political race, the margin of error tells readers the likely range of results of an election.

    What is a margin of error?

    A poll is one or more questions asked of a small group of people and used to gauge the views of a larger group of people. The margin of error is a mathematical calculation of how accurate the poll results are – of how closely the answers given by the small group match the views held by the larger group.

    If everyone in the larger group were polled, there would be no margin of error. But it’s complicated, difficult and expensive to contact that many people. The U.S. Census Bureau spent US$13.7 billion over several years in its most recent effort to count every person in the United States every 10 years, and it still wasn’t able to include exactly everyone.

    Pollsters don’t have that kind of time – or money – so they use smaller samples of the population. They seek to identify representative samples in which all members of the larger group have a chance to be included in the poll.

    The group size is important

    The calculation of how close the poll is to the views of the larger population is based on the size of the group that is polled.

    For example, a sample of 600 voters will have a larger margin of error – about 4 percentage points – than a sample of 1,000 voters, which has a margin of error of just over 3 percentage points.

    The way the sample is chosen also matters: In 1936, the Literary Digest magazine polled people on the presidential election by mailing surveys to telephone owners, car owners and country club members. Everyone in this group was relatively affluent, so they were not representative of the whole U.S. voting population. Calculating a margin of error would have been meaningless because the sample did not capture all segments of the population.

    The larger the sample size, the smaller the margin of error.
    Zieben007 via Wikimedia Commons, CC BY-SA

    A concrete example

    Let’s use an example of how to understand the margin of error. If a poll shows that 47% of the polled group support Candidate A, and the margin of error is plus or minus 3 percentage points, that means that the percentage in the population supporting Candidate A is likely to be between 44% (47 minus 3) and 50% (47 plus 3).

    One quick note: Most polls report margins of error alongside another technical term, “confidence interval.” In the most rigorous reporting of polls, you might see a sentence near the end that says something like “The margin of error is plus or minus 3 percentage points, at a 95% confidence interval.” What all that means is this: Imagine if 100 different random samples of the same size were selected from the larger group, and then asked the same questions in the poll. The 95% confidence interval means that 95% of the time, those other polls’ responses would be within 3 percentage points of the answers reported in this one poll.

    Comparing support between candidates

    The concept of margin of error gets more complex when looking at the differences in support between two candidates. If a margin of error is plus or minus 3 percentage points, the margin of error on the difference between them is about double – or 6 percentage points, in this example.

    That’s because the margin of error here is a combined one, and refers to not just the percentage voting for Candidate A but also to the percentage voting for the other candidate.

    To look back at 2016 again, the final Quinnipiac University Poll in Florida before Election Day showed Clinton with 46% support and Trump with 45% support. The margin of error was 3.9 percentage points, which meant Clinton was likely to get between 42.1% and 49.9% of the vote, and Trump was likely to get between 41.1% and 48.9% of the vote.

    The actual result was that Trump won Florida with 48.6%, as compared with Clinton’s 47.4%. Those results were within our poll’s margin of error, meaning we were correct to declare it “too close to call” – and we would have been wrong to say Clinton was ahead.

    2024 will be a close election

    In the current election cycle, many media reports about polls are not including information about the margin of error.

    Leaving out that information, or downplaying its significance, may help media outlets provide a quick, simple picture about the state of the race. Technology can seem precise in the modern age of the internet and artificial intelligence.

    But polling is not as precise. It is an inexact science. It’s a pollster’s job to capture snapshots of the complexities of human nature at a particular time. People’s minds can change, and new information can arise as the campaigns unfold.

    With the presidential election in its final weeks, our polls have been finding a fairly tight and steady race, with most voters telling us their minds are made up. Because the difference between the presidential candidates is within the margin of error in swing states, the election polling in autumn 2024 is telling Americans to hold their breath and make sure they vote, because it is likely to be a squeaker.

    Doug Schwartz is affiliated with the American Association of Public Opinion Research (AAPOR).

    ref. Why the margin of error matters more than ever in reading 2024 election polls – a pollster with 30 years of experience explains – https://theconversation.com/why-the-margin-of-error-matters-more-than-ever-in-reading-2024-election-polls-a-pollster-with-30-years-of-experience-explains-240633

    MIL OSI – Global Reports

  • MIL-OSI Global: This Atlanta neighborhood hired a case manager to address rising homelessness − and it’s improving health and safety for everyone

    Source: The Conversation – USA – By Ishita Chordia, Ph.D. Candidate in Information Science, University of Washington

    Mural by artist Chris Wright on Metropolitan Avenue in East Atlanta. Art Rudick/Atlanta Street Art Map, CC BY-ND

    Homelessness has surged across the United States in recent years, rising 19% from 2016 though 2023. The main cause is a severe shortage of affordable housing. Rising homelessness has renewed debates about use of public space and how encampments affect public safety.

    The U.S. Supreme Court recently weighed in on these debates with its 2024 decision in Grants Pass v. Johnson. The court’s ruling grants cities the authority to prohibit individuals from sleeping and camping in public spaces, effectively condoning the use of fines and bans to address rising rates of homelessness.

    East Atlanta Village, a historically Black neighborhood in Atlanta with about 3,000 residents, is trying something different. In the fall of 2023, with support from the Atlanta City Council, the mayor’s office and Intown Cares, a local nonprofit that works to alleviate homelessness and hunger, the neighborhood hired a full-time social worker to support people experiencing homelessness.

    Michael Nolan, an Intown Cares social worker, is trained in an approach that emphasizes individual autonomy and dignity, recognizes that being homeless is a traumatic experience, and prioritizes access to housing. His role includes helping individuals get the documentation they need to move off the streets, such as copies of their birth certificates and Social Security cards. He also has a dedicated phone line that community members can use to alert him about dangerous situations that involve homeless people.

    Michael Nolan, East Atlanta Village’s social worker, spends 40-plus hours weekly providing supplies, services and other help to people experiencing homelessness.

    I am a researcher at the University of Washington studying programs and technologies that help urban neighborhoods flourish. I’m also a resident of East Atlanta Village and have helped the neighborhood organize and evaluate this experiment.

    For the past year, my colleagues and I have collected data about the neighborhood social work program to understand how well it can support both people without housing and the broader community. Our preliminary findings suggest that neighborhood social work is a promising way to address challenges common in many neighborhoods with homelessness.

    I believe this approach has the potential to provide long-term solutions to homelessness and improve the health and safety for the entire neighborhood. I also see it as a sharp contrast with the punitive approach condoned by the Supreme Court.

    Resolving conflicts over public space

    One of the people I interviewed while evaluating this initiative was Rebecca, a resident of East Atlanta Village who walks her dog in the local park every day. In the fall of 2023, she noticed that a man had moved into the park and set up a tent. At first, the area was clean, but within a few weeks there was garbage around the tent and throughout the park.

    Rebecca felt that the trash was ruining one of the few green spaces in the neighborhood. She decided to contact Nolan. Nolan told her that he knew the unhoused man, was working with him to secure permanent housing and in the meantime would help him move his tent to a less-frequented space.

    Such negotiations around public spaces are common challenges for neighborhoods with large homeless populations, especially in dense urban areas. Other examples in our data included conflicts when a homeless person began sleeping in his car outside another resident’s home, and when a homeless man wandered into a homeowner’s yard.

    The standard approach in these situations is to fine, ban or imprison the unhoused individual. But those strategies are expensive, can prolong homelessness and do little to actually resolve the issues.

    In contrast, hiring a social worker has enabled East Atlanta Village to resolve conflicts gently, through conversation and negotiation. The solutions address concerns about public health and safety and also offer people without homes an opportunity for long-term change.

    Meeting basic needs

    Over the past year, this program has helped 13 people move into housing. Nolan has facilitated over 180 medical and mental health care visits for people living on the street.

    Eighty-six people have been connected to Medicaid, food assistance or Social Security benefits. Thirty-five people have health care for the first time, and six people have started receiving medication for their addictions.

    Research shows that addressing people’s basic needs by helping them obtain food, medicine, housing and other necessities not only supports those individuals but also produces cascading benefits for the entire community. They include reduced inequality, better health outcomes and lower crime rates.

    Managing mental and behavioral health

    Studies have found that about two-thirds of unhoused individuals struggle with mental health challenges. Unmet mental and behavioral health needs can contribute to unsafe and illegal behavior.

    The United States does not have a comprehensive system in place for supporting people who are living on the street and struggling with chronic mental and behavioral health challenges. While much more infrastructure is needed, in East Atlanta Village, Nolan is able to check in on people experiencing homelessness, work with clinics to deliver medication for addiction and mental health needs and alert community members about dangerous situations.

    As an example, in December 2023 a homeless man was arrested in East Atlanta Village for trespassing, stealing mail and other erratic behavior. When concerned residents posted to the neighborhood Facebook group, Nolan responded that he knew the man well, that this behavior was not typical and that he would look into the situation.

    Nolan later updated his post, commenting that the man had been arrested but that he would “continue to follow up and ensure that his current behaviors do not return upon his release.”

    In other examples, Nolan has helped de-escalate situations when people experienced mental health episodes in local coffee shops and churches.

    A model for other cities

    Cities around the U.S. have decisions to make about addressing homelessness and its associated challenges. Neighborhood social work is not a magic bullet, but my colleagues and I see it as a promising approach to address the most common challenges that neighborhoods with high rates of homelessness face.

    East Atlanta Village is currently working with the Atlanta City Council to renew funding for this program, which cost US$100,000 in its initial year. We hope that other neighborhoods also consider this strategy when deciding how to address homelessness in their own areas.

    Ishita Chordia is affiliated with the East Atlanta Neighborhood Association. She volunteers for the neighborhood association and has helped organize and evaluate the neighborhood social work program.

    ref. This Atlanta neighborhood hired a case manager to address rising homelessness − and it’s improving health and safety for everyone – https://theconversation.com/this-atlanta-neighborhood-hired-a-case-manager-to-address-rising-homelessness-and-its-improving-health-and-safety-for-everyone-236466

    MIL OSI – Global Reports

  • MIL-OSI Global: North Carolina is not really a red or blue state − and that makes political predictions much more difficult

    Source: The Conversation – USA – By Christopher A. Cooper, Professor of Political Science & Public Affairs, Western Carolina University

    Lt. Gov. Mark Robinson shares the stage with former U.S. President Donald Trump during a 2022 rally in Selma, N.C. Allison Joyce/Getty Images

    For all its prominence as a key battleground state, North Carolina hasn’t done much swinging in U.S. presidential elections.

    The last time a majority of North Carolinians voted for a Democratic candidate was 2008 for Barack Obama. The time before that was 1976 for Jimmy Carter. In the past 12 presidential elections, Republicans have won 10. Those Republicans include Donald Trump in 2016 and 2020.

    But as I demonstrate in my 2024 book, “Anatomy of a Purple State: A North Carolina Politics Primer,” simply looking at the outcome of presidential voting gives a skewed understanding of voting behavior in other elections across the state.

    Consider 2020 again. While it is true that Trump won North Carolina’s 15 electoral college votes – it now has 16, based on 2020 U.S Census Bureau data — his margin of victory was only about 74,000 votes out of some 5.4 million votes cast. It was the smallest margin of any state that Trump won.

    Part of the reason is the nearly even split among voters in the two major parties and the emergence of registered voters who claim they are unaffiliated.

    As of September 2024, North Carolina had 7.6 million registered voters. Of these, the largest group at 38% were registered as unaffiliated, followed by registered Democrats at 32% and registered Republicans at 30%.

    Despite being considered a red state, North Carolina’s congressional delegation is split evenly between Democrats and Republicans with seven each. In addition, four of the state’s 10 statewide, elected Council of State officeholders, including Gov. Roy Cooper, are Democrats.

    In no other Southern state does a single elected Democrat hold a similar statewide seat.

    Though both of North Carolina’s U.S. senators are Republicans and the GOP holds supermajorities in both houses of the state Legislature, North Carolina is not entirely red or blue. It is undeniably purple – and that gives rise to further uncertainty over how the state will vote in the 2024 presidential election.

    The Kamala Harris factor

    Before U.S. President Joe Biden dropped out of the race in July 2024, polls showed that he lagged behind Trump by 5 percentage points in North Carolina.

    As in many other battleground states, it appeared that Trump had a small but fairly durable lead over Biden.

    Vice President Kamala Harris campaigns in Greenville, N.C., on Oct. 13, 2024.
    Alex Wong/Getty Images

    But soon after Vice President Kamala Harris became the Democratic nominee, several national polls showed Harris had an immediate bump and closed the gap – in some polls actually taking a lead. Trump has since regained a slight lead – less than a percentage point – in one October 2024 poll.

    But Harris’ impact wasn’t just on national polls.

    For the first time in years, Democratic Party registration began to exceed Republican Party registration in the state.

    From July 20-26, 2,351 people registered as Democrats in North Carolina – a 44% increase compared with the previous week. During the same period, Republican and unaffiliated voter registrations were down 23% and 14%, respectively, from the previous week.

    The rise and fall of Mark Robinson

    In spring 2024, during the height of primary season, Trump stepped into the North Carolina gubernatorial race by endorsing Lt. Gov. Mark Robinson, a Black Republican with a history of derogatory comments about Muslims and members of the LGBTQ community.

    “This is a Martin Luther King on steroids,” Trump said of Robinson during a rally in Greensboro, North Carolina, on March 2, 2024.

    Given Trump’s two wins in the state, his endorsement was expected to help Robinson beat Democrat Josh Stein in one of the nation’s most competitive state elections.

    But Trump’s enthusiasm all but vanished after a series of negative stories about Robinson. They included a Sept. 19, 2024, CNN report alleging that Robinson frequented a porn web site called “Nude Africa” years ago where he described himself as a “Black Nazi.” Robinson also allegedly made a number of misogynistic and racist statements such as “slavery is not bad.”

    Robinson denied the allegations and called the CNN report “salacious tabloid lies.”

    Trump made another campaign stop in Wilmington on Sept. 21, 2024. Robinson, who had frequently appeared with Trump at previous North Carolina rallies, was not on the stage.

    Polling conducted after CNN’s bombshell report showed an election that had shifted from competitive to one where the Democrat Stein is favored by a large margin to become North Carolina’s governor.

    It is unclear whether Robinson’s apparent demise will affect the top of the ticket – or other state GOP candidates.

    Natural disasters

    Hurricane Helene hit western North Carolina on Sept. 28 and brought high winds, flooding, an estimated US$47 billion in property damages and 250 deaths.

    It also caused questions about access to voting in areas devastated by Helene and then, two weeks later, Hurricane Milton.

    A woman in North Carolina places an American flag near a mobile home that was destroyed in October 2024 by Hurricane Helene.
    Mario Tama/Getty Images

    Twenty-nine counties in North Carolina were affected by the storm, although 13 counties received the brunt of the damage. Analysis of data from the North Carolina Board of Elections reveals that Trump led Biden by about a 10 percentage-point margin among voters in those affected counties.

    Given this, lower turnout in this region might hurt Trump more than Harris. It’s little surprise then that the Trump campaign has called for expanding voting access in those areas.

    But there’s no way to know who will receive North Carolina’s 16 Electoral College votes. Such is the unpredictable politics of a purple state.

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

    ref. North Carolina is not really a red or blue state − and that makes political predictions much more difficult – https://theconversation.com/north-carolina-is-not-really-a-red-or-blue-state-and-that-makes-political-predictions-much-more-difficult-240844

    MIL OSI – Global Reports

  • MIL-OSI Global: Many wealthy members of Congress are descendants of rich slaveholders − new study demonstrates the enduring legacy of slavery

    Source: The Conversation – USA – By Neil K R Sehgal, PhD Student in Computer & Information Science, University of Pennsylvania

    A statue of Jefferson Davis, second from left, is on display in Statuary Hall on Capitol Hill in Washington. A slaveholder, Davis represented Mississippi in the Senate and House before the American Civil War. AP Photo/Susan Walsh, File

    The legacy of slavery in America remains a divisive issue, with sharp political divides.

    Some argue that slavery still contributes to modern economic inequalities. Others believe its effects have largely faded.

    One way to measure the legacy of slavery is to determine whether the disproportionate riches of slaveholders have been passed down to their present-day descendants.

    Connecting the wealth of a slaveholder in the 1860s to today’s economic conditions is not easy. Doing so requires unearthing data for a large number of people on slaveholder ancestry, current wealth and other factors such as age and education.

    But in a new study, we tackled this challenge by focusing on one of the few groups of Americans for whom such information exists: members of Congress. We found that legislators who are descendants of slaveholders are significantly wealthier than members of Congress without slaveholder ancestry.

    How slavery made the South rich

    In 1860, one year before the Civil War, the market value of U.S. slaves was larger than that of all American railroads and factories.

    At the time of emancipation in 1863, the estimated value of all enslaved people was roughly US$13 trillion in today’s dollars. The lower Mississippi Valley had more millionaires, all of them slaveholders, than anywhere else in the country.

    Some post-Civil War historians have argued that emancipation permanently devastated slave-owning families.

    More recently, however, historians discovered that, while the South fell behind the North economically immediately following emancipation, many elite slaveholders recovered financially within one or two generations.

    They accomplished this by replacing slavery with sharecropping – a kind of indentured servitude that trapped Black farm workers in debt to white landowners – and enacting discriminatory Jim Crow laws that enforced racial segregation.

    100 descendants of slaveholders

    Using genealogist-verified historical data and financial data from annual congressional disclosures, we examined members of the 117th Congress, which was in session from January 2021 to January 2023.

    Of its 535 members, 100 were descendants of slaveholders, including Democratic Sen. Elizabeth Warren and Republican Sen. Mitch McConnell.

    Legislators whose ancestors were large slaveholders – defined in our study as owning 16 or more slaves– have a current median net worth five times larger than their peers whose ancestors were not slaveholders: $5.6 million vs. $1.1 million. These results remained largely the same after accounting for age, race and education.

    Wealth creates many privileges – the means to start a business or pursue higher education. And intergenerational wealth transfers can allow these advantages to persist across generations.

    Because members of Congress are a highly select group, our results may not apply to all Americans. However, the findings align with other studies on the transfers of wealth and privilege across generations in the U.S. and Europe.

    Wealth, these studies find, often stays within rich families across multiple generations. Mechanisms for holding onto wealth include low estate taxes and access to elite social networks and schools. Easy entry into powerful jobs and political influence also play a part.

    Privilege with power

    But members of Congress do not just inherit wealth and advantages.

    They shape the lives of all Americans. They decide how to allocate federal funds, set tax rates and create regulations.

    This power is significant. And for those whose families benefited from slavery, it can perpetuate economic policies that maintain wealth inequality.

    Beyond inherited wealth, the legacy of slavery endures in policies enacted by those in power – by legislators who may be less likely to prioritize reforms that challenge the status quo.

    COVID-19 relief legislation, for example, helped reduce child poverty by more than 70% while bringing racial inequalities in child poverty to historic lows. Congress failed to renew the program in 2022, plunging 5 million more children into poverty, most of them Black and Latino.

    The economic deprivation still experienced by Black Americans is the flip side of the privilege enjoyed by slaveowners’ descendants. The median household wealth of white Americans today is six times higher than that of Black Americans – $285,000 versus $45,000.

    Meanwhile, federal agencies that enforce antidiscrimination laws remain underfunded. This limits their ability to address racial disparities.

    Legislators in the House of Representatives debate the abolition of the 1836 gag rule, which prevented discussion of any laws concerning slavery.
    MPI/Getty Images

    The path forward

    As the enduring economic disparities rooted in slavery become clearer, a growing number of states and municipalities are weighing some form of practical and financial compensation for the descendants of enslaved people.

    Yet surveys show that most Americans oppose such reparations for slavery. Similarly, Congress has debated slavery reparations many times but never passed a bill.

    There are, however, other ways to improve opportunities for historically disadvantaged populations that could gain bipartisan backing.

    A majority of Americans, both conservatives and liberal, support increased funding for environmental hazard screening, which assesses the potential impact of a proposed project. They also favor limits on rent increases, better public school funding and raising taxes on the wealthy.

    These measures would help dismantle the structural barriers that perpetuate economic disparities. And the role of Congress here is central.

    Members of Congress do not bear personal responsibility for their ancestors’ actions. But they have an opportunity to address both the legacies of past injustices and today’s inequalities.

    By doing so, they can help create a future where ancestral history does not determine economic destiny.

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

    ref. Many wealthy members of Congress are descendants of rich slaveholders − new study demonstrates the enduring legacy of slavery – https://theconversation.com/many-wealthy-members-of-congress-are-descendants-of-rich-slaveholders-new-study-demonstrates-the-enduring-legacy-of-slavery-239077

    MIL OSI – Global Reports