Category: Transport

MIL-OSI USA: Wittman Hosts Veterans Seminar in Midlothian
Source: United States House of Representatives – Congressman Rob Wittman (VA-01)

MIDLOTHIAN, Va. – Congressman Rob Wittman (VA-01) today hosted a community seminar at American Legion Post 354 in Midlothian to convene veterans, their families, support organizations, and community members to provide resources and discuss the challenges faced by the veterans community in Virginia’s First District. The seminar was a follow-up to a similar event the congressman hosted in Mechanicsville earlier this month.

Watch the livestream here.

“Our veterans made great sacrifices for us on the battlefield, and we owe them a debt of gratitude for that service,” said Rep. Wittman. “These heroes and their families deserve access to the highest level of care, employment and educational opportunities, and support from their community. Our veterans have earned their benefits through sacrifice, service, and hardship, and I believe they should receive the most efficient delivery of benefits possible. I remain committed to protecting these hard-earned benefits for our nation’s heroes.”

The congressman was joined by Harry Schein, veterans service representative at the Virginia Department of Veterans Services, and Bill Barksdale, assistant director of the U.S. Department of Veteran Affairs’ Roanoke Regional Office.

Virginia’s First District is home to many veterans, with over 700,000 veterans residing in the Commonwealth of Virginia. Throughout his time in Congress, Rep. Wittman has reintroduced multiple pieces of legislation that would remove administrative roadblocks to U.S. Department of Veterans Affairs (VA) services and to bring accountability to the VA by increasing transparency:
- Voted for the PACT Act
  - Expands VA health care to veterans exposed to toxic burn pits during their military service.
  - Extends the period of time post-9/11 combat veterans have to enroll in VA health care from five to 10 years post-discharge.
  - Requires veterans enrolled in VA health care to be screened regularly for toxic exposure related concerns.
  - Invests in VA health care facilities by authorizing 31 major medical health clinics and research facilities in 19 states.
  - Requires VA to conduct outreach to any veteran who had previously filed a claim for benefits related to toxic exposure and was denied ensuring they are aware of the opportunity to refile.
- Cosponsored the Senator Elizabeth Dole 21st Century Veterans Healthcare and Benefits Improvement Act
  - Improves the delivery of healthcare, benefits, and services at the VA for veterans, their families, and their survivors.
  - Expands economic opportunity, modernizes the disability claims process, improves elder care, and expands mental health support.
- Cosponsored the Not Just a Number Act
  Directs the VA to study which programs work best to stop suicide and expand upon them.
  
  Enhances accuracy of data, timely reporting of veteran suicides, and improves prevention efforts through better service delivery and the proposal of new administrative structures.
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MIL OSI USA News –
January 25, 2025

MIL-OSI: NorthEast Community Bancorp, Inc. Reports Results for the Three and Nine Months Ended September 30, 2024

Source: GlobeNewswire (MIL-OSI)

WHITE PLAINS, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of $12.7 million, or $0.97 per basic share and $0.95 per diluted share, for the three months ended September 30, 2024 compared to net income of $11.8 million, or $0.80 per basic and diluted share, for the three months ended September 30, 2023. In addition, the Company generated net income of $36.9 million, or $2.81 per basic share and $2.78 per diluted share, for the nine months ended September 30, 2024 compared to net income of $34.2 million, or $2.42 per basic share and $2.41 per diluted share, for the nine months ended September 30, 2023.

Kenneth A. Martinek, Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report another quarter of strong earnings due to the strong performance of our loan portfolio. Despite the challenging high interest rate environment during 2023 that continued into most of 2024, offset by a reduction in interest rates towards the end of the third quarter of 2024, loan demand remained strong with originations and outstanding commitments remaining robust. As has been in the past, construction lending in high demand-high absorption areas continues to be our focus.”

Highlights for the three months and nine months ended September 30, 2024 are as follows:

Performance metrics continue to be strong with a return on average total assets ratio of 2.62%, a return on average shareholders’ equity ratio of 16.48%, and an efficiency ratio of 36.04% for the three months ended September 30, 2024. For the nine months ended September 30, 2024, the Company generated a return on average total assets ratio of 2.61%, a return on average shareholders’ equity ratio of 16.55%, and an efficiency ratio of 36.37%.
Net interest income increased by $1.2 million and $5.5 million, or 4.6% and 7.7%, respectively, for the three months and nine months ended September 30, 2024 compared to the same periods in 2023.
Our commitments, loans-in-process, and standby letters of credit outstanding totaled $659.0 million at September 30, 2024 compared to $719.6 million at December 31, 2023.

Balance Sheet Summary

Total assets increased $203.8 million, or 11.6%, to $2.0 billion at September 30, 2024, from $1.8 billion at December 31, 2023. The increase in assets was primarily due to an increase in net loans of $173.6 million and an increase in cash and cash equivalents of $29.1 million.

Cash and cash equivalents increased $29.1 million, or 42.4%, to $97.8 million at September 30, 2024 from $68.7 million at December 31, 2023. The increase in cash and cash equivalents was a result of an increase in deposits of $228.0 million, partially offset by a decrease in borrowings of $57.0 million, an increase of $173.6 million in net loans, and stock repurchases of $2.4 million.

Equity securities increased $2.4 million, or 13.5%, to $20.5 million at September 30, 2024 from $18.1 million at December 31, 2023. The increase in equity securities was attributable to the purchase of $2.0 million in equity securities during the third quarter of 2024 and market appreciation of $445,000 due to market interest rate volatility during the nine months ended September 30, 2024.

Securities held-to-maturity decreased $799,000, or 5.0%, to $15.1 million at September 30, 2024 from $15.9 million at December 31, 2023 due to $810,000 in maturities and pay-downs of various investment securities, partially offset by a decrease of $10,000 in the allowance for credit losses for held-to-maturity securities.

Loans, net of the allowance for credit losses, increased $173.6 million, or 11.0%, to $1.8 billion at September 30, 2024 from $1.6 billion at December 31, 2023. The increase in loans, net of the allowance for credit losses, was primarily due to loan originations of $569.2 million during the nine months ended September 30, 2024, consisting primarily of $499.7 million in construction loans with respect to which approximately 34.1% of the funds were disbursed at loan closings, with the remaining funds to be disbursed over the terms of the construction loans. In addition, during the nine months ended September 30, 2024, we originated $44.7 million in commercial and industrial loans, $14.0 million in non-residential loans, $4.2 million in multi-family loans, and $600,000 in mixed-use loans.

Loan originations during the nine months ended September 30, 2024 resulted in a net increase of $148.8 million in construction loans, $14.4 million in commercial and industrial loans, $9.2 million in non-residential loans, $3.6 million in multi-family loans, and $788,000 in consumer loans. The increase in our loan portfolio was partially offset by decreases of $1.7 million in residential loans and $1.2 million in mixed-use loans, coupled with normal pay-downs and principal reductions.

The allowance for credit losses related to loans decreased to $4.8 million as of September 30, 2024 from $5.1 million as of December 31, 2023. The decrease in the allowance for credit losses related to loans was due to a credit to the provision for credit losses totaling $145,000 and charge-offs of $115,000.

Premises and equipment decreased $507,000, or 2.0%, to $24.9 million at September 30, 2024 from $25.5 million at December 31, 2023 primarily due to the depreciation of fixed assets.

Investments in Federal Home Loan Bank stock decreased $217,000, or 23.4%, to $712,000 at September 30, 2024 from $929,000 at December 31, 2023. The decrease was due primarily to the mandatory redemption of Federal Home Loan Bank stock totaling $315,000 in connection with the maturity of $7.0 million in advances in 2024, offset by purchases of Federal Home Loan Bank stock totaling $98,000 due to the growth of our mortgage loan portfolio.

Bank owned life insurance (“BOLI”) increased $486,000, or 1.9%, to $25.6 million at September 30, 2024 from $25.1 million at December 31, 2023 due to increases in the BOLI cash value.

Accrued interest receivable increased $1.2 million, or 9.4%, to $13.5 million at September 30, 2024 from $12.3 million at December 31, 2023 due to an increase in the loan portfolio.

Real estate owned decreased $478,000, or 32.8%, to $978,000 at September 30, 2024 from $1.5 million at December 31, 2023 due to a charge-off of $478,000 resulting from a decrease in the estimated fair value of the foreclosed property.

Right of use assets — operating decreased $422,000, or 9.2%, to $4.1 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

Other assets decreased $548,000, or 6.8%, to $7.5 million at September 30, 2024 from $8.0 million at December 31, 2023 due to decreases in tax assets of $671,000, prepaid expenses of $56,000, miscellaneous assets of $4,000, and securities receivables of $1,000, partially offset by increase in suspense accounts of $184,000.

Total deposits increased $228.0 million, or 16.3%, to $1.6 billion at September 30, 2024 from $1.4 billion at December 31, 2023. The increase in deposits was primarily due to the Bank offering competitive interest rates to attract deposits. This resulted in a shift in deposits whereby certificates of deposit increased $230.5 million, or 30.3%, and NOW/money market accounts increased $83.5 million, or 57.4%, partially offset by decreases in savings account balances of $53.4 million, or 27.7%, and non-interest bearing demand deposits of $32.6 million, or 10.9%.

Federal Home Loan Bank advances decreased $7.0 million, or 50.0%, to $7.0 million at September 30, 2024 from $14.0 million at December 31, 2023 due to the maturity of borrowings in 2024. Federal Reserve Bank borrowings of $50.0 million at December 31, 2023 were paid-off during the nine months ended September 30, 2024.

Advance payments by borrowers for taxes and insurance increased $442,000, or 21.9%, to $2.5 million at September 30, 2024 from $2.0 million at December 31, 2023 due primarily to accumulation of real estate tax payments by borrowers.

Lease liability – operating decreased $384,000, or 8.3%, to $4.2 million at September 30, 2024 from $4.6 million at December 31, 2023, primarily due to amortization.

Accounts payable and accrued expenses increased $2.4 million, or 17.8%, to $16.0 million at September 30, 2024 from $13.6 million at December 31, 2023 due primarily to increases in dividends payable of $3.2 million and deferred compensation of $395,000, partially offset by a decrease in accrued expense of $810,000. The allowance for credit losses for off-balance sheet commitments decreased $130,000, or 12.5%, to $908,000 at September 30, 2024 from $1.0 million at December 31, 2023.

Stockholders’ equity increased $30.3 million, or 10.8% to $309.6 million at September 30, 2024, from $279.3 million at December 31, 2023. The increase in stockholders’ equity was due to net income of $36.9 million for the nine months ended September 30, 2024, the amortization expense of $1.4 million relating to restricted stock and stock options granted under the Company’s 2022 Equity Incentive Plan, a reduction of $652,000 in unearned employee stock ownership plan shares coupled with an increase of $532,000 in earned employee stock ownership plan shares, an exercise of stock options totaling $14,000, and $10,000 in other comprehensive income, partially offset by stock repurchases totaling $2.5 million and dividends paid and declared of $6.7 million.

Results of Operations for the Three Months Ended September 30, 2024 and 2023

Net Interest Income

Net interest income was $26.3 million for the three months ended September 30, 2024, as compared to $25.1 million for the three months ended September 30, 2023. The increase in net interest income of $1.2 million, or 4.6%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

The increase in interest income is attributable to increases in the average balances of loans, interest-bearing deposits, and investment securities, partially offset by a decrease in the average balances of FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases in 2023 that continued until September 2024.

The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the three months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to an increase in the average balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the average balances on our savings and club deposits.

Total interest and dividend income increased $6.0 million, or 17.2%, to $41.2 million for the three months ended September 30, 2024 from $35.1 million for the three months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $282.6 million, or 18.0%, to $1.9 billion for the three months ended September 30, 2024 from $1.6 billion for the three months ended September 30, 2023, partially offset by a decrease in the yield on interest earning assets by 6 basis points from 8.95% for the three months ended September 30, 2023 to 8.89% for the three months ended September 30, 2024.

Interest expense increased $4.9 million, or 48.9%, to $14.9 million for the three months ended September 30, 2024 from $10.0 million for the three months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 59 basis points from 3.86% for the three months ended September 30, 2023 to 4.45% for the three months ended September 30, 2024 and an increase in average interest bearing liabilities of $301.8 million, or 29.1%, to $1.3 billion for the three months ended September 30, 2024 from $1.0 billion for the three months ended September 30, 2023.

Our net interest margin decreased 72 basis points, or 11.3%, to 5.68% for the three months ended September 30, 2024 compared to 6.40% for the three months ended September 30, 2023. The decrease in the net interest margin was due to the increase in the cost of interest-bearing liabilities outpacing the increase in the yield on interest-earning assets.

Credit Loss Expense

The Company recorded a provision for credit loss of $105,000 for the three months ended September 30, 2024 compared to a provision for credit loss of $156,000 for the three months ended September 30, 2023. The credit loss expense of $105,000 for the three months ended September 30, 2024 was comprised of a credit loss expense for off-balance sheet commitments of $105,000 primarily attributable to an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments. The credit loss expense of $156,000 for the three months ended September 30, 2023 was comprised of credit loss for loans of $438,000, partially offset by credit loss expense reduction for off-balance sheet commitments of $278,000 and credit loss expense reduction for held-to-maturity securities of $4,000.

With respect to the allowance for credit losses for loans, we charged-off $82,000 during the three months ended September 30, 2024 as compared to charge-offs of $71,000 during the three months ended September 30, 2023. These charge-offs during the three months ended September 30, 2024 and 2023 were against various unpaid overdrafts in our demand deposit accounts.

We recorded no recoveries from previously charged-off loans during the three months ended September 30, 2024 and 2023.

Non-Interest Income

Non-interest income for the three months ended September 30, 2024 was $1.3 million compared to non-interest income of $221,000 for the three months ended September 30, 2023. The increase of $1.1 million, or 510.4%, in total non-interest income was primarily due to increases of $977,000 in unrealized gain on equity securities, $225,000 in other loan fees and service charges, $26,000 in miscellaneous other non-interest income, and $14,000 in BOLI income, partially offset by a decrease of $114,000 in investment advisory fees.

The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 compared to an unrealized loss of $430,000 on equity securities during the three months ended September 30, 2023. The unrealized gain of $547,000 on equity securities during the three months ended September 30, 2024 was due to market interest rate volatility during the quarter ended September 30, 2024.

The increase of $225,000 in other loan fees and service charges was due to an increase of $210,000 in other loan fees and loan servicing fees and an increase of $15,000 in ATM/debit card/ACH fees.

The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

Non-Interest Expense

Non-interest expense increased $1.0 million, or 11.7%, to $10.0 million for the three months ended September 30, 2024 from $8.9 million for the three months ended September 30, 2023. The increase resulted primarily from increases of $477,000 in real estate owned expense, $435,000 in salaries and employee benefits, $119,000 in occupancy expense, and $112,000 in outside data processing expense, partially offset by decreases of $53,000 in equipment expense, $39,000 in other operating expense, and $5,000 in advertising expense.

Income Taxes

We recorded income tax expense of $4.9 million and $4.4 million for the three months ended September 30, 2024 and 2023, respectively. For the three months ended September 30, 2024, we had approximately $203,000 in tax exempt income, compared to approximately $187,000 in tax exempt income for the three months ended September 30, 2023. Our effective income tax rates were 27.8% and 27.3% for the three months ended September 30, 2024 and 2023, respectively.

Results of Operations for the Nine Months Ended September 30, 2024 and 2023

Net Interest Income

Net interest income was $77.5 million for the nine months ended September 30, 2024 as compared to $72.0 million for the nine months ended September 30, 2023. The increase in net interest income of $5.5 million, or 7.7%, was primarily due to an increase in interest income that exceeded an increase in interest expense.

The increase in interest income is attributable to increases in loans and interest-bearing deposits, partially offset by decreases in investment securities and FHLB stock. The increase in interest income is also attributable to the Federal Reserve’s interest rate increases during 2023 that continued until September 2024.

The increase in market interest rates in 2023 that continued until September 2024 also caused an increase in our interest expense. As a result, the increase in interest expense for the nine months ended September 30, 2024 was due to an increase in the cost of funds on our deposits and borrowed money. The increase in interest expense was also due to increases in the balances on our certificates of deposits, our interest-bearing demand deposits, and our borrowed money, offset by a decrease in the balances of our savings and club deposits.

Total interest and dividend income increased $24.2 million, or 25.4%, to $119.5 million for the nine months ended September 30, 2024 from $95.4 million for the nine months ended September 30, 2023. The increase in interest and dividend income was due to an increase in the average balance of interest earning assets of $332.7 million, or 22.7%, to $1.8 billion for the nine months ended September 30, 2024 from $1.5 billion for the nine months ended September 30, 2023 and an increase in the yield on interest earning assets by 19 basis points from 8.66% for the nine months ended September 30, 2023 to 8.85% for the nine months ended September 30, 2024.

Interest expense increased $18.7 million, or 79.9%, to $42.0 million for the nine months ended September 30, 2024 from $23.4 million for the nine months ended September 30, 2023. The increase in interest expense was due to an increase in the cost of interest bearing liabilities by 101 basis points from 3.35% for the nine months ended September 30, 2023 to 4.36% for the nine months ended September 30, 2024, and an increase in average interest bearing liabilities of $355.6 million, or 38.2%, to $1.3 billion for the nine months ended September 30, 2024 from $931.5 million for the nine months ended September 30, 2023.

Net interest margin decreased 80 basis points, or 12.2%, for the nine months ended September 30, 2024 to 5.74% compared to 6.54% for the nine months ended September 30, 2023.

Credit Loss Expense

The Company recorded a credit loss expense reduction totaling $286,000 for the nine months ended September 30, 2024 compared to a credit loss expense totaling $767,000 for the nine months ended September 30, 2023. The credit loss expense reduction of $286,000 for the nine months ended September 30, 2024 was comprised of a credit loss expense reduction for loans of $145,000, a credit loss expense reduction for off-balance sheet commitments of $130,000, and a credit loss expense reduction for held-to-maturity investment securities of $11,000. The credit loss expense reduction for loans of $145,000 for the nine months ended September 30, 2024 was primarily attributed to favorable trends in the economy. The credit loss expense reduction for off-balance sheet commitments of $130,000 for the nine months ended September 30, 2024 was primarily attributed to a reduction of $69.1 million in the level of off-balance sheet commitments, partially offset by an increase in the weighted average remaining maturity for the aggregate unfunded off-balance sheet commitments during the quarter ended September 30, 2024.

The credit loss expense of $767,000 for the nine months ended September 30, 2023 was comprised of credit loss expense for loans of $1.2 million, partially offset by a credit loss expense reduction for off-balance sheet commitments of $395,000 and credit loss expense reduction for held-to-maturity investment securities of $1,000.

We charged-off $115,000 during the nine months ended September 30, 2024 as compared to charge-offs of $285,000 during the nine months ended September 30, 2023. The charge-offs of $115,000 during the nine months ended September 30, 2024 were against various unpaid overdrafts in our demand deposit accounts. The charge-offs of $285,000 during the nine months ended September 30, 2023 were comprised of a charge-off of $159,000 related to three performing construction loans on the same project whereby we sold the loans to a third-party subsequent to June 30, 2023 at a loss of $159,000. The remaining charge-offs of $126,000 for the 2023 period were against various unpaid overdrafts in our demand deposit accounts.

We recorded no recoveries from previously charged-off loans during the nine months ended September 30, 2024 and 2023.

Non-Interest Income

Non-interest income for the nine months ended September 30, 2024 was $2.6 million compared to non-interest income of $2.4 million for the nine months ended September 30, 2023. The increase of $277,000, or 11.8%, in total non-interest income was primarily due to increases of $772,000 in unrealized gains on equity securities, $196,000 in other loan fees and service charges, and $23,000 in miscellaneous other non-interest income, offset by decreases of $371,000 in BOLI income and $343,000 in investment advisory fees.

The increase in unrealized gain (loss) on equity securities was due to an unrealized gain of $445,000 on equity securities during the nine months ended September 30, 2024 compared to an unrealized loss of $327,000 on equity securities during the nine months ended September 30, 2023. The unrealized gain of $445,000 on equity securities during the 2024 period was due to market interest rate volatility during the nine months ended September 30, 2024.

The increase of $196,000 in other loan fees and service charges was due to increases of $164,000 in other loan fees and loan servicing fees, $27,000 in ATM/debit card/ACH fees, and $5,000 in savings account fees.

The decrease in BOLI income was primarily due to two death claims totaling $1.8 million on BOLI policies that resulted in additional BOLI income of $404,000 in the nine months ended September 30, 2023. The decrease in investment advisory fees was due to the disposition in January 2024 of the Bank’s assets relating to the Harbor West Wealth Management Group. As a result of the transaction, the Bank no longer generates investment advisory fees.

Non-Interest Expense

Non-interest expense increased $3.2 million, or 12.1%, to $29.1 million for the nine months ended September 30, 2024 from $26.0 million for the nine months ended September 30, 2023. The increase resulted primarily from increases of $1.7 million in salaries and employee benefits, $800,000 in other operating expense, $475,000 in real estate owned expense, $286,000 in outside data processing expense, and $226,000 in occupancy expense, partially offset by decreases of $183,000 in equipment expense and $110,000 in advertising expense.

Income Taxes

We recorded income tax expense of $14.4 million and $13.4 million for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, we had approximately $597,000 in tax exempt income, compared to approximately $956,000 in tax exempt income for the nine months ended September 30, 2023. The decrease in tax exempt income was due to two death claims totaling $1.8 million on BOLI policies during the nine months ended September 30, 2023. Our effective income tax rates were 28.1% and 28.2% for the nine months ended September 30, 2024 and 2023, respectively.

Asset Quality

Non-performing assets were $5.4 million at September 30, 2024 compared to $5.8 million at December 31, 2023. At September 30, 2024 and December 31, 2023, we had two non-performing construction loans totaling $4.4 million secured by the same project located in the Bronx, New York. We successfully foreclosed on these two loans on October 21, 2024 and the balances were transferred to foreclosed real estate. The other non-performing assets consisted of one foreclosed property at September 30, 2024 and December 31, 2023. Our ratio of non-performing assets to total assets remained low at 0.27% at September 30, 2024 as compared to 0.33% at December 31, 2023.

The Company’s allowance for credit losses related to loans was $4.8 million, or 0.27% of total loans as of September 30, 2024, compared to $5.1 million, or 0.32% of total loans, as of December 31, 2023. Based on a review of the loans that were in the loan portfolio at September 30, 2024, management believes that the allowance for credit losses related to loans is maintained at a level that represents its best estimate of inherent losses in the loan portfolio that were both probable and reasonably estimable.

In addition, at September 30, 2024, the Company’s allowance for credit losses related to off-balance sheet commitments totaled $908,000 and the allowance for credit losses related to held-to-maturity debt securities totaled $126,000.

Capital

The Company’s total stockholders’ equity to assets ratio was 15.73% as of September 30, 2024. At September 30, 2024, the Company had the ability to borrow $832.1 million from the Federal Reserve Bank of New York, $14.8 million from the Federal Home Loan Bank of New York and $8.0 million from Atlantic Community Bankers Bank.

The Bank’s capital position remains strong relative to current regulatory requirements and the Bank is considered a well-capitalized institution under the Prompt Corrective Action framework. As of September 30, 2024, the Bank had a tier 1 leverage capital ratio of 14.76% and a total risk-based capital ratio of 14.04%.

The Company completed its first stock repurchase program on April 14, 2023 whereby the Company repurchased 1,637,794 shares, or 10%, of the Company’s issued and outstanding common stock. The cost of the stock repurchase program totaled $23.0 million, including commission costs and Federal excise taxes. Of the total shares repurchased under this program, 957,275 of such shares were repurchased during 2023 at a total cost of $13.7 million, including commission costs and Federal excise taxes.

The Company commenced its second stock repurchase program on May 30, 2023 whereby the Company will repurchase 1,509,218, or 10%, of the Company’s issued and outstanding common stock. As of September 30, 2024, the Company had repurchased 1,091,174 shares of common stock under its second repurchase program, at a cost of $17.2 million, including commission costs and Federal excise taxes.

About NorthEast Community Bancorp

NorthEast Community Bancorp, headquartered at 325 Hamilton Avenue, White Plains, New York 10601, is the holding company for NorthEast Community Bank, which conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex, and Norfolk Counties in Massachusetts and three loan production offices located in New City, New York, White Plains, New York, and Danvers, Massachusetts. For more information about NorthEast Community Bancorp and NorthEast Community Bank, please visit www.necb.com.

Forward Looking Statement

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions (including higher inflation and its impact on regional and national economic conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, decreases in deposit levels necessitating increased borrowing to fund loans and securities, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area, the impact of failures or disruptions in or breaches of the Company’s operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns, and changes in relevant accounting principles and guidelines. Additionally, other risks and uncertainties may be described in our annual and quarterly reports filed with the U.S. Securities and Exchange Commission (the “SEC”), which are available through the SEC’s website located at www.sec.gov. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result 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.

CONTACT:	Kenneth A. Martinek
	Chairman and Chief Executive Officer

PHONE:	(914) 684-2500

NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)

	September 30,			December 31,
	2024			2023
	(In thousands, except share
	and per share amounts)
ASSETS
Cash and amounts due from depository institutions	$	16,023		$	13,394
Interest-bearing deposits		81,766			55,277
Total cash and cash equivalents		97,789			68,671
Certificates of deposit		100			100
Equity securities		20,547			18,102
Securities held-to-maturity (net of allowance for credit losses of $126 and $136, respectively)		15,061			15,860
Loans receivable		1,760,504			1,586,721
Deferred loan (fees) costs, net		(245	)		176
Allowance for credit losses		(4,833	)		(5,093	)
Net loans		1,755,426			1,581,804
Premises and equipment, net		24,945			25,452
Investments in restricted stock, at cost		712			929
Bank owned life insurance		25,568			25,082
Accrued interest receivable		13,463			12,311
Real estate owned		978			1,456
Property held for investment		1,380			1,407
Right of Use Assets – Operating		4,144			4,566
Right of Use Assets – Financing		348			351
Other assets		7,496			8,044
Total assets	$	1,967,957		$	1,764,135
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest bearing	$	267,592		$	300,184
Interest bearing		1,360,475			1,099,852
Total deposits		1,628,067			1,400,036
Advance payments by borrowers for taxes and insurance		2,462			2,020
Borrowings		7,000			64,000
Lease Liability – Operating		4,241			4,625
Lease Liability – Financing		599			571
Accounts payable and accrued expenses		15,965			13,558
Total liabilities		1,658,334			1,484,810

Stockholders’ equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding	$	—		$	—
Common stock, $0.01 par value; 75,000,000 shares authorized; 14,020,602 shares and 14,144,856 shares outstanding, respectively		140			142
Additional paid-in capital		109,368			109,924
Unearned Employee Stock Ownership Plan (“ESOP”) shares		(5,911	)		(6,563	)
Retained earnings		205,699			175,505
Accumulated other comprehensive income		327			317
Total stockholders’ equity		309,623			279,325
Total liabilities and stockholders’ equity	$	1,967,957		$	1,764,135

NORTHEAST COMMUNITY BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024			2023
						(In thousands, except per share amounts)
INTEREST INCOME:
Loans	$	39,484	$	33,757		$	114,821		$	91,826
Interest-earning deposits		1,472		1,181			4,058			2,886
Securities		227		199			662			650
Total Interest Income		41,183		35,137			119,541			95,362
INTEREST EXPENSE:
Deposits		14,630		9,889			40,459			23,050
Borrowings		257		109			1,559			299
Financing lease		10		10			29			28
Total Interest Expense		14,897		10,008			42,047			23,377
Net Interest Income		26,286		25,129			77,494			71,985
Provision for (reversal of) credit loss		105		156			(286	)		767
Net Interest Income after Provision for (Reversal of) Credit Loss		26,181		24,973			77,780			71,218
NON-INTEREST INCOME:
Other loan fees and service charges		589		364			1,613			1,417
Earnings on bank owned life insurance		167		153			486			857
Investment advisory fees		–		114			–			343
Unrealized gain (loss) on equity securities		547		(430	)		445			(327	)
Other		46		20			90			67
Total Non-Interest Income		1,349		221			2,634			2,357
NON-INTEREST EXPENSES:
Salaries and employee benefits		5,135		4,700			15,738			14,079
Occupancy expense		735		616			2,116			1,890
Equipment		187		240			661			844
Outside data processing		681		569			1,924			1,638
Advertising		128		133			310			420
Real estate owned expense		488		11			527			52
Other		2,607		2,646			7,864			7,064
Total Non-Interest Expenses		9,961		8,915			29,140			25,987
INCOME BEFORE PROVISION FOR INCOME TAXES		17,569		16,279			51,274			47,588
PROVISION FOR INCOME TAXES		4,883		4,436			14,416			13,413
NET INCOME	$	12,686	$	11,843		$	36,858		$	34,175

NORTHEAST COMMUNITY BANCORP, INC.
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(In thousands, except per share amounts)						(In thousands, except per share amounts)
Per share data:
Earnings per share – basic	$	0.97		$	0.80		$	2.81		$	2.42
Earnings per share – diluted		0.95			0.80			2.78			2.41
Weighted average shares outstanding – basic		13,075			14,743			13,108			14,143
Weighted average shares outstanding – diluted		13,417			14,822			13,279			14,192
Performance ratios/data:
Return on average total assets		2.62	%		2.87	%		2.61	%		2.95	%
Return on average shareholders’ equity		16.48	%		17.26	%		16.55	%		16.95	%
Net interest income	$	26,286		$	25,129		$	77,494		$	71,985
Net interest margin		5.68	%		6.40	%		5.74	%		6.54	%
Efficiency ratio		36.04	%		35.17	%		36.37	%		34.96	%
Net charge-off ratio		0.02	%		0.02	%		0.01	%		0.03	%

Loan portfolio composition:								September 30, 2024			December 31, 2023
One-to-four family							$	3,507		$	5,252
Multi-family								202,516			198,927
Mixed-use								28,399			29,643
Total residential real estate								234,422			233,822
Non-residential real estate								30,312			21,130
Construction								1,368,222			1,219,413
Commercial and industrial								125,520			111,116
Consumer								2,028			1,240
Gross loans								1,760,504			1,586,721
Deferred loan (fees) costs, net								(245	)		176
Total loans							$	1,760,259		$	1,586,897
Asset quality data:
Loans past due over 90 days and still accruing							$	–		$	–
Non-accrual loans								4,413			4,385
OREO property								978			1,456
Total non-performing assets							$	5,391		$	5,841

Allowance for credit losses to total loans								0.27	%		0.32	%
Allowance for credit losses to non-performing loans								109.52	%		116.15	%
Non-performing loans to total loans								0.25	%		0.28	%
Non-performing assets to total assets								0.27	%		0.33	%

Bank’s Regulatory Capital ratios:
Total capital to risk-weighted assets								14.04	%		14.11	%
Common equity tier 1 capital to risk-weighted assets								13.76	%		13.78	%
Tier 1 capital to risk-weighted assets								13.76	%		13.78	%
Tier 1 leverage ratio								14.76	%		16.21	%

NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)

	Three Months Ended September 30, 2024								Three Months Ended September 30, 2023
	Average			Interest		Average			Average			Interest		Average
	Balance			and dividend		Yield			Balance			and dividend		Yield
	(In thousands, except yield/cost information)								(In thousands, except yield/cost information)
Loan receivable gross	$	1,717,875		$	39,484		9.19	%	$	1,446,946		$	33,757		9.33	%
Securities		34,920			212		2.43	%		33,754			181		2.14	%
Federal Home Loan Bank stock		712			15		8.43	%		929			18		7.75	%
Other interest-earning assets		98,903			1,472		5.95	%		88,156			1,181		5.36	%
Total interest-earning assets		1,852,410			41,183		8.89	%		1,569,785			35,137		8.95	%
Allowance for credit losses		(4,914	)							(4,404	)
Non-interest-earning assets		90,313								85,133
Total assets	$	1,937,809							$	1,650,514

Interest-bearing demand deposit	$	228,975		$	2,423		4.23	%	$	78,768		$	522		2.65	%
Savings and club accounts		140,047			848		2.42	%		235,613			1,624		2.76	%
Certificates of deposit		946,290			11,359		4.80	%		707,142			7,743		4.38	%
Total interest-bearing deposits		1,315,312			14,630		4.45	%		1,021,523			9,889		3.87	%
Borrowed money		23,603			267		4.52	%		15,631			119		3.05	%
Total interest-bearing liabilities		1,338,915			14,897		4.45	%		1,037,154			10,008		3.86	%
Non-interest-bearing demand deposit		271,207								322,213
Other non-interest-bearing liabilities		19,758								16,694
Total liabilities		1,629,880								1,376,061
Equity		307,929								274,453
Total liabilities and equity	$	1,937,809							$	1,650,514

Net interest income / interest spread				$	26,286		4.44	%				$	25,129		5.09	%
Net interest rate margin							5.68	%							6.40	%
Net interest earning assets	$	513,495							$	532,631
Average interest-earning assets
to interest-bearing liabilities		138.35	%							151.36	%

NORTHEAST COMMUNITY BANCORP, INC.
NET INTEREST MARGIN ANALYSIS
(Unaudited)

	Nine Months Ended September 30, 2024								Nine Months Ended September 30, 2023
	Average			Interest		Average			Average			Interest		Average
	Balance			and dividend		Yield			Balance			and dividend		Yield
	(In thousands, except yield/cost information)								(In thousands, except yield/cost information)
Loan receivable gross	$	1,672,582		$	114,821		9.15	%	$	1,353,446		$	91,826		9.05	%
Securities		34,071			607		2.38	%		39,375			589		1.99	%
Federal Home Loan Bank stock		752			55		9.75	%		1,002			61		8.12	%
Other interest-earning assets		93,417			4,058		5.79	%		74,308			2,886		5.18	%
Total interest-earning assets		1,800,822			119,541		8.85	%		1,468,131			95,362		8.66	%
Allowance for credit losses		(4,977	)							(4,640	)
Non-interest-earning assets		90,087								83,200
Total assets	$	1,885,932							$	1,546,691

Interest-bearing demand deposit	$	202,097		$	6,300		4.16	%	$	84,920		$	1,433		2.25	%
Savings and club accounts		160,296			3,032		2.52	%		262,977			5,373		2.72	%
Certificates of deposit		880,741			31,127		4.71	%		567,378			16,244		3.82	%
Total interest-bearing deposits		1,243,134			40,459		4.34	%		915,275			23,050		3.36	%
Borrowed money		43,916			1,588		4.82	%		16,216			327		2.69	%
Total interest-bearing liabilities		1,287,050			42,047		4.36	%		931,491			23,377		3.35	%
Non-interest-bearing demand deposit		282,786								329,993
Other non-interest-bearing liabilities		19,163								16,373
Total liabilities		1,588,999								1,277,857
Equity		296,933								268,834
Total liabilities and equity	$	1,885,932							$	1,546,691

Net interest income / interest spread				$	77,494		4.49	%				$	71,985		5.31	%
Net interest rate margin							5.74	%							6.54	%
Net interest earning assets	$	513,772							$	536,640
Average interest-earning assets
to interest-bearing liabilities		139.92	%							157.61	%

The MIL Network –

January 25, 2025

MIL-OSI Africa: East Africa: The Ethiopia-Kenya Electricity Highway is Shaping Regional Connectivity with the Support of the African Development Bank

Source: Africa Press Organisation – English (2) – Report:

ABIDJAN, Ivory Coast, October 28, 2024/APO Group/ —

The electricity highway between Ethiopia and Kenya, officially opened in 2023 after more than 10 years of planning and construction, is redefining energy connectivity in East Africa. It is more than a piece of infrastructure, it is an economic and environmental entity, connecting not just power grids but nations and populations.

This vision of a shared energy future runs for 1,045 km between Wolayta-Sodo in Ethiopia and Suswa in Kenya. It enables both countries to pool resources, hydroelectricity from Ethiopia, and geothermal and wind power from Kenya.

Regional Connectivity lies at the heart of the project. As John Mativo, Managing Director of the Kenya Electricity Transmission Company (Ketraco) explains, this project is all about collaboration:

“Around 2010, countries in East Africa, as an energy pool, decided that it was essential to have an interconnected hub so that everyone could use and exploit energy and support each other.”

One of the project’s critical aspects is the use of HVDC (High Voltage Direct Current) technology, which makes it much easier to transport electricity with long distance transmission lines as Tewoderos Ayalew, the site manager at Ethiopian Electric Power explains:

“The reason we are using HVDC technology is to minimize energy wastage and reduce power losses in the transmission line energy wastage and reduce the costs of constructing transmission lines; it is also easy to operate and improve grid stability in operating the interconnection from the power grids of different countries.”

Hydroelectric dams in Ethiopia produce energy in the form of alternating current, which is transported via the Ethiopian grid to the converter station in Sodo. There, it is converted to Direct Current (DC) and leaves Ethiopia for Kenya, via 1,045 km of overhead transmission line. Once it arrives at the Suswa converter station, it will be converted back to alternating current to be integrated into the Kenyan power grid.

This high voltage DC infrastructure is the only one of its kind in the region and is the foundation of East Africa’s ambition to be interconnected in terms of power exchange and allow cross-border trade in energy.

The total cost of USD 1.26 billion was funded partly by USD 338 million from the African Development Bank. The World Bank, the Agence française de développement (AFD) and the governments of the two countries concerned also contributed.

Significant economic benefits

The project has brought significant economic benefits. For Kenya, where 95 percent of electricity comes from renewable sources, the connection is increasing its competitiveness. Kipkemoi Kibias, General Manager at Ketraco, endorses the project:

“Using clean, renewable energy brings numerousadvantages not just to Kenyans, but to the whole world… it allows us to attract investors, especially in light and heavy industries, who are looking for green energy.”

The project also creates jobs. The development of business zones close to energy infrastructure, like the one near Suswa, creates thousands of jobs and boosts local economic activity. Moreover, the project includes a significant social dimension, notably involving local communities. Out of the 100 employees at the Suswa power station, 70 come from the region, offering opportunities for local development.

For Sylvia Kinaiya, an engineer from the region, the project is also a source of personal pride:

“I am Masai, so for me, it’s a way of giving back to my community,” she says. She also emphasizes that this project proves that it is possible to be both a mother and an engineer, helping to break down gender barriers in technical occupations.

Apart from its economic and social impacts, the project is a model of sustainability, allowing better integration of intermittent renewable energy sources, such as wind power and Solar, into regional networks. According to John Mativo, this infrastructure ensures that “Kenya has enough green energy to support our industrial development while maintaining a small carbon footprint.”

Kenya is already on the way to self-sufficiency in clean energy, with the aim of moving to 100 percent renewable energy by 2030. By connecting its grid to Ethiopia, Kenya can not only stabilize its energy supply but also attract more investment into green energies. This vision is also shared by investors, who see this infrastructure as a guarantee of energy and environmental security.

The Ethiopia-Kenya electricity highway is therefore much more than a simple infrastructure project; it embodies a vision of the future in which green energy becomes the driver of stronger regional cooperation and sustainable development. Thanks to this connection, East African countries can share their energy resources efficiently, while responding to the growing needs of their populations and industries.

The future is bright according to Tweoderos Ayalew:

“We have the potential not only to meet our own needs, but also to supply energy to our neighbours and beyond.”

This pioneering project is thus paving the way to shared prosperity, while putting the region on the path to a sustainable energy transition.

MIL OSI Africa –

January 25, 2025
MIL-OSI USA: UConn Researchers Working to Extinguish ‘Inflammatory Fire’ Stroke Causes in the Brain

Source: US State of Connecticut

It’s been more than three decades, but still there are only two treatments for a stroke: either rapid use of a clot-busting medication called tPA or surgical removal of a clot from the brain with mechanical thrombectomy. However, only 5% to 13% percent of stroke cases are actually eligible for these interventions.

In his research laboratory at UConn School of Medicine, Rajkumar Verma Ph.D., of the Department of Neuroscience and the Pat and Jim Calhoun Cardiology Center at UConn Health (Tina Encarnacion/UConn Health photo).

“We need to be persistent with our research to find a new therapy for stroke,” says Rajkumar Verma, M.Pharm., Ph.D., assistant professor, Department of Neuroscience at UConn School of Medicine working in cross-campus collaboration with Professor Raman Bahal Ph.D. of the Deparment of Pharmaceutical Sciences in the UConn School of Pharmacy. “Stroke research is hard and challenging to do. But without trying we won’t make progress. We need to keep trying. UConn is determined to keep trying.”

In addition to being life-threatening, stroke is the major cause of long-term disability worldwide.

“When a stroke strikes a patient, we don’t have any treatment to offer to effectively repair the brain’s damage. Once brain cells and tissue are damaged by a stroke, nothing can help restore the damage. In essence, the cascading inflammation caused by a stroke in the brain is like a fire in a house. We need to find a way to stop stroke’s fire,” says Verma.

Verma and his multidisciplinary research team believe they have found a new innovative therapy to try to stop a stroke’s “fire” or inflammation. This October they reported their new findings in the journal Molecular Therapy: Nucleic Acid.

To try to more effectively control a stroke’s damage and turn back time, UConn researchers are leveraging the power of micro-RNA (MiRNA), small molecules that regulate protein expression inside cells as they are able to control multiple proteins at a time.

“MiRNAs are small RNA molecules that help cells to regulate multiple gene and protein expression,” says Verma. “UConn researchers discovered that during a stroke these MiRNA get dysregulated, thus leading to brain damage by multiple unchecked proteins. Also, our laboratory research has confirmed the presence of increased levels of one such MiRNA, known as miRNA-141-3p, in blood samples of stroke patients.”

Novel gamma PNA based miRNA-141-3p inhibitors (syPNA-141) reduced brain damage (image on right with less atrophy) after stroke in mouse model of ischemic stroke. (Courtesy of Verma laboratory image).

Verma adds, “We are thrilled to report that we have successfully tested a novel MiRNA-141-3p inhibitor synthesized in our collaborator Dr. Bahal’s lab with the ability to reduce stroke damage and extinguish spreading inflammatory fire in the brain. In mouse models, we have seen swift restoration of once-lost motor function and memory. Also, we see a decrease in brain injury and enhanced expression of neuroprotective genes and growth factors fueling the brain’s recovery from stroke.”

The new promising therapeutic modality developed to inhibit stroke is called anti-miR-141-3p. UConn’s medical school is currently working to commercialize the discovery and take it toward clinical trial testing as a future treatment option for stroke.

Verma says UConn’s research findings once again showcase the powerful tool of miRNA and the promise of their newly developed miRNA inhibitor’s ability to stop the overexpression of dangerous, dysregulated bad proteins causing inflammation in the brain post-stroke.

Verma came to the U.S. over a decade ago from India and continued his stroke research journey at UConn School of Medicine studying stroke.

“I saw the big therapeutic gap in a new drug treatment for stroke to mitigate its brain damage and help with post-stroke recovery, and was motivated to try to fill this gap by learning more about stroke and by performing more translational research. I have chosen to stay at UConn for my stroke research, as UConn excels at this.”

But Verma is also driven to fight stroke personally.

“So many people have a personal story or family member who has been personally impacted about stroke – including me,” Verma shares. “My father died from a cardiovascular incident. We are not sure if it was in the brain or the heart. But this experience has led to my motivation for pursuing more stroke research.”

MIL OSI USA News –

January 25, 2025
MIL-OSI Reportage: New app set to slash merchant payment fees and transform how NZers manage their money
Source: BNZ statements

Imagine running a bustling café where every transaction not only saves you money on fees, but also automatically updates your loyalty programme, provides smart sales insights, and even puts you on the map for potential new customers.

Meanwhile, your regulars can pay their brunch bill without even bringing a wallet, quickly send their share of the brunch tab to friends, manage their bank accounts, loyalty cards and gift vouchers seamlessly in one place, and easily track their daily flat white habits.

Soon this will be the reality for New Zealand businesses and their customers with the launch of Payap – the country’s first digital wallet and Point of Sale (POS) app compatible with all New Zealand banks.

Leveraging the power of open banking, Payap offers a new lower cost, contactless way to pay and get paid. Payap makes transactions effortless: users simply scan QR codes dynamically generated on an EFTPOS terminal, enabling instant cash transfers directly from their bank account. It also provides a low-cost ecommerce solution, making it easy and affordable for businesses to accept payments online.

With Payap’s 0.39% payment acceptance rate, a retail business turning over $100,000 monthly could save up to $7,320 annually compared to the average 1% merchant service fee reported by the Commerce Commission. For ecommerce businesses, Payap’s 0.59% fee is approximately 80% cheaper than the percentage fees charged by some other providers.
- Businesses using Payap also have access to a suite of powerful features, including:
- The ability to create and manage loyalty programmes, making it easy to reward customers and build brand loyalty
- Enhanced visibility over transactions and the ability to manage discounts and refunds through a dedicated portal
- Increased visibility with Payap’s ‘store finder’ map, showcasing location, business details, and available offers to app users
- Use existing hardware – Payap is supported by all leading EFTPOS providers
For consumers, Payap brings together all your accounts from New Zealand banks, as well as loyalty, and even gift cards in one easy-to-use digital wallet. It allows seamless payments from any linked account and offers a range of features that simplify money management:
- Manage your bank accounts, loyalty, and gift cards in one place
- Split a payment across multiple sources, combining different bank accounts, debit cards, or gift card balances, all managed seamlessly within Payap
- Easily split bills or manage shared expenses with friends with peer-to-peer payments
- Log all your receipts in one place and get smart insights to gain a clear view of your spending patterns
- Level up your loyalty, with rewards automatically applied during transactions
Powered by New Zealand fintech Centrapay and backed by BNZ, Payap is now available for business sign-ups ahead of the March 2025 consumer launch. The onboarding process is quick and free, and businesses are encouraged to register their interest. Payap is available to all businesses regardless of who they bank with.

“Payap is the country’s first comprehensive digital payment service that leverages the power of open banking to fill a clear gap in the New Zealand market,” says Centrapay CEO Greg Beehre.

“We’re excited to introduce this innovative solution that will transform how businesses accept payments and how we manage our money.”

BNZ Executive Customer Products and Services, Karna Luke, says the potential Payap offers to both businesses and consumers is impressive.

“Our team is working closely with our business customers to onboard them before the consumer launch, and we expect thousands of businesses to be on the platform on day one when their customers start using the app.

“Payap is designed to benefit businesses across Aotearoa, and we welcome all interested businesses – from small street vendors to enterprise retailers and everything in between – to get in touch with us to explore how it can enhance their payment system and customer experience.”

Core payments, acceptance and rewards features will be available at launch, with additional capabilities like peer-to-peer payments being rolled out progressively throughout 2025.

Businesses interested in learning more about Payap can visit www.payap.com or www.bnz.co.nz/payap

The post New app set to slash merchant payment fees and transform how NZers manage their money appeared first on BNZ Debrief.
MIL OSI Analysis –
January 25, 2025
MIL-OSI Global: How a Trump election win could hit the US food industry and leave millions of Americans hungry

Source: The Conversation – UK – By Shonil Bhagwat, Professor of Environment and Development, The Open University

Sheila Fitzgerald/Shutterstock

As the US presidential election inches closer, a recent survey found that the economy is the top issue for voters, and many are also concerned about healthcare, foreign policy and inequality. Amid all the noise about these key issues however, food has received only marginal coverage in the campaigning despite the country’s high cost of living.

Project 2025, a 900-page policy document produced by conservative thinktank the Heritage Foundation, has become a major talking point in the election campaign. Although Republican candidate Donald Trump has denied any links between his campaign and Project 2025, the people who have authored this document are no strangers to the former president, with more than half of the 307 contributors having served in the Trump administration or on his campaign or transition teams.

Trump’s Democratic rival in the race to the White House, Vice President Kamala Harris, has been very vocal about the dangers to the American people if the Project 2025 proposals were to be implemented. Instead, her campaign has promised an “opportunity economy” to support the American middle class, which will seek to cut prices and taxes, lower household costs, and offer various tax reliefs.

Analyses of Harris’ versus Trump’s economic policies suggest that the tariffs Trump has proposed will cause a rise in prices of imported goods – including food. On the other hand, Trump’s policies could lower energy costs because more domestic fossil fuel production could make US-produced foodstuffs cheaper.

But Project 2025 proposes deregulation of US dietary guidelines and US food assistance programmes, including Supplemental Nutrition Assistance Program (Snap), Women, Infants and Children Program (WIC), and the National School Lunch Program. Democrats have argued that this will “drastically reduce” the access that families have to fresh American-grown food, threatening the health of the most vulnerable.

Read more:
How Harris and Trump’s economic pledges stack up

Democrats have also claimed that Project 2025 policies would reduce support to small-scale farmers, favouring large agribusinesses while deregulating the flow of ultra-processed food manufactured and distributed by influential corporations. Some estimates suggest that 73% of US food supply is already made up of ultra-processed foods, and they have been found to provide 60% of the calories consumed by the average US adult.

The links between ultra-processed food and negative health outcomes are increasingly being drawn. As such, food policy under Project 2025 would be very likely to have a negative impact on wider public health in the US.

But at the same time, Project 2025 would probably make healthcare less affordable and more restrictive for millions of citizens. It promises to reinstate the ability of the pharmaceutical industry to fix prices, raising the cost of drugs for American people.

It would also cut funding for health coverage for low-income Americans, threatening the survival of hospitals, health centres or doctors who serve those people.

These healthcare policies, combined with deregulation of the food industry and dietary guidelines, as well as the defunding of food assistance programmes, could spell a triple whammy for the health and wellbeing of some of the most vulnerable people in America.

How do Harris’s plans compare?

Harris’s plans, on the other hand, aim to make healthcare less expensive and more accessible, particularly for those from vulnerable groups such as black Americans or those on low incomes, the elderly or veterans.

But while these proposals might remove barriers to healthcare, they won’t directly improve food provision for Americans. Some of the proposals in Harris’s “opportunity economy”, however, could directly address the issue.

The outcome of the presidential election could have serious consequences for food security and wellbeing – especially among America’s poorer populations.
Tada Images/Shutterstock

Harris’s proposals focus on strengthening and diversifying supply chains for food production, processing and distribution. She has been outspoken about investigating price-fixing of food products by large corporations – and prosecuting firms anywhere in the supply chain where this is found to have happened.

Harris’s plans would also support small producers, processors, distributors, family farms and food and farm workers with more funding to compete with large conglomerates. This could result in more decentralised supply chains, which are known to make it easier to provide healthier food to more people by encouraging crop diversity and lowering the cost of fresh local products.

And she is promising to crack down on mergers and acquisitions of food corporations, which are known to compromise the sustainable provision of healthy food by curbing farmers’ bargaining power and leaving communities with little say over how their land is used.

Food is integral to the public sector economy, alongside things such as providing healthcare, protecting the environment and reducing inequalities. The organisation of the entire food system – from production to processing, trade to transport, and consumption to nutrition – needs to consider ways in which feeding a country can strenghten its public sector economy, and meet its obligation to the United Nations Sustainable Development Goals. The US has already made a commitment to these goals through global food security programmes like Feed the Future.

These issues are especially pertinent to the US, as its food system is highly centralised. In fact, 6% of farms grow 60% of food. Meanwhile family farms – which represent 88% of the total – contribute only 19%. Harris’s proposals could go some way to correcting this imbalance. But the rhetoric coming from her rivals on the other hand could ultimately end up making the US worse off in terms of food provision and health.

Shonil Bhagwat is a member of the UK Department for Environment Food & Rural Affairs Science Advisory Council: Social Science Expert Group and the National Trust, UK, Specialist Advice Network: Natural Environment Advisory Group. He has received funding from UK Research and Innovation (Research England, Natural Environment Research Council, Economic and Social Research Council), European Union Horizon 2020, The Leverhulme Trust, The Royal Society, and the British Ecological Society.

– ref. How a Trump election win could hit the US food industry and leave millions of Americans hungry – https://theconversation.com/how-a-trump-election-win-could-hit-the-us-food-industry-and-leave-millions-of-americans-hungry-242316

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Japan-style ‘tiny forests’ are taking root in British cities

Source: The Conversation – UK – By Hanyu Qi, PhD Candidate, School of Architecture and Landscape, University of Sheffield

Anatta_Tan/Shutterstock

A staggering one in three people in England lack access to nature-rich spaces within a short walk from their homes. Now, a growing movement is bringing nature back to cities across the UK. The Miyawaki forest method involves planting a diverse mix of densely packed native woodland trees – or “tiny forests” – that grow quickly in small areas, around the size of a tennis court.

Already, there are more than 280 Miyawaki-style forests nationwide. Tucked away within housing estates, school grounds and wasteland on the urban edge, these urban forests are growing faster than conventionally planted trees.

This tree planting approach was developed by Japanese ecologist Akira Miyawaki in the 1970s. Proponents argue that tiny forests create more habitat for wildlife and increase the capacity of land to store carbon, although few studies aim to quantify those benefits in western countries. If planted in a certain way, they can help create a more complete plant community structure from the ground up to the canopy.

This means that the forest has distinct layers from the slow-growing canopy species right down to the smaller shrubs and ground covering herbs. These habitats are self-sustaining, so after three to five years’ growth they apparently don’t need much maintenance.

The environmental charity Earthwatch Europe uses the Miyawaki method to plant tiny forests in urban areas. So far, with the help of local communities, they have planted 285 forests since 2022.

Some local councils and community groups are embracing this tiny forest revolution. At Tychwood in Witney, near Oxford, the UK’s first tiny forest now has an outdoor classroom area that’s used by schoolchildren and local residents who can work on citizen science projects and tree maintenance.

Since it was first planted in March 2020, the habitat has become home to insects, birds and lots of native plants such as oak, birch, crab apple, dogwood and goat willow.

But while a government-funded pilot project called Trees Outside Woodlands has received attention for its possible socio-environmental benefits, very little research has quantified how best to do this effectively. One report published by conservation charity the Tree Council shows that Miyawaki plots have significantly higher survival rates and are more cost-effective than non-Miyawaki plots. But lots of unknowns remain.

A climate of uncertainty

Despite recognition of the potential benefits, including carbon storage, biodiversity conservation and educational opportunities, there’s a lot of uncertainty about how to apply the tiny forest method in different climates, particularly in the UK.

Our recent study, published in the Arboricultural Journal, explores how suitable these tiny forests are within the UK context. Our interviews with 12 professionals (tree experts from academia or practitioners) reveal that while half of them supported the Miyawaki method, especially in specific urban areas such as schools and small parks, concerns remained about tree mortality and the high costs of buying saplings, prepping soil and maintaining trees. A few people told us that they could see potential in using unused farmland to establish tiny forests in rural settings too.

Climate adaptation is paramount and planting trees in urban environments has never been more important. Access to nature also improves people’s health and wellbeing, with green spaces helping to connect communities and reduce loneliness, as well as mitigate the negative effects of climate change, such as air pollution, heatwaves and flooding, and improve biodiversity.

As UK cities face both climate change and biodiversity loss, the tiny forest method offers a promising solution. There are still many challenges to overcome as this movement is still in its infancy – but it could be key to a greener, more resilient future.

Don’t have time to read about climate change as much as you’d like? Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 35,000+ readers who’ve subscribed so far.

Nicola Dempsey is on the Board of Green Estate, CIC, Secretary of the Sheffield Green Spaces Forum and a member of the Sheffield Street Tree Partnership.

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

– ref. Japan-style ‘tiny forests’ are taking root in British cities – https://theconversation.com/japan-style-tiny-forests-are-taking-root-in-british-cities-239005

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: How a crisis of truth is putting US electoral system under stress

Source: The Conversation – UK – By Clodagh Harrington, Lecturer in American Politics, University College Cork

America is in the grip of a crisis of truth and its political and electoral systems are under duress. Losing the connection between what is true and what is fiction could have enormous consequence in the middle of this US election campaign.

Academics refer to this as an epistemological crisis, a situation where different people believe different “truths” and it becomes difficult to get a shared understanding of key facts. This, they argue, can lead to polarisation and potentially, even, an ungovernable country, based on an inability to decide on what is factually correct.

Jonathan Rauch, the journalist and author of The Constitution of Knowledge: A Defense of Truth, says historically disagreement about what is true has, on some occasions, led to untold killing and suffering.

Right now in the US, it’s clear that there are massive differences in what people believe is true. Polls show, for instance, that around 69% of Republicans and Republican-leaning voters think the 2020 election result was not legitimate and that Joe Biden did not win.

This division is amplified by what is happening in and around the campaigns, and the use of new and developing techniques. The Trump campaign, for instance, continues to make claims that the 2020 election was stolen.

Sharing misinformation (that is, when inaccurate content is disseminated but not with the intent to mislead) has always been part of political life, but it is now quickly amplified by social media. Spreading disinformation takes this to the next level, when organisations or individuals deliberately spread lies. But the means to do so have grown more sophisticated, as demonstrated in the recent Moldovan election, where a massive Russian disinformation campaign was discovered.

History reminds us that fake news is at a premium during wartime and the world is currently experiencing two major conflicts. In both cases, the geopolitical consequences for the US are sky-high.

By spring 2024, US news media were reporting on Russia’s potential to interfere in the US election. The US administration’s position on the Ukraine war in particular matters greatly to the Kremlin, and it is no secret that a Donald Trump victory would suit Putin far better than a continuation of the Ukraine-funding Democrat alternative.

What is an epistemological crisis?

In September, US officials warned of election threats, not only from Russia but also Iran and China. Former director of the US Cyber-Security and Infrastructure Agency, Chris Krebs, stated that 2024 is “lining up to be a busy election interference season”. What makes these multi-faceted and constantly evolving threats even harder to manage is the fact that Maga influencers are embroiled in the proceedings. This makes a unified American response against an external threat all but impossible.

Read more:
Why do millions of Americans believe the 2020 presidential election was ‘stolen’ from Donald Trump?

One recent such example involved a company in Tennessee which was used by members of the Russian state-owned broadcaster RT (formerly Russia Today) to spread Russia-friendly content. The content-creators were paid US$10 million (£7.7 million) by RT to publish pro-Russia videos in English on a range of social media platforms. The RT employees were charged with conspiracy to commit money laundering and violating the Foreign Agent Registration Act.

This is one of many developments by the foreign interference machine as the election on November 5 nears. Other incidents include dozens of internet domains used by the Kremlin to spread disinformation on websites designed to look like news sites and to undermine support for Ukraine. The US government response to these complex and boundary-blurring threats is complicated by the tension between maintaining discretion and informing the public.

Old challenges, new technology

Looking back, the 2016 presidential campaign and subsequent victory for Trump brought many firsts, some comical, others deadly serious in this post-truth arena. The lighter side included inaccurate claims made by White House press secretary Sean Spicer about the size of Trump’s 2017 inauguration crowd. When Trump advisor Kellyanne Conway declared on television to have “alternative facts” to those reported by the media on the crowd size, her phrase entered general use.

With hindsight, such falsehoods now seem a little quaint, as the images from the day told the truth better than any script. Far more disturbingly, Russia’s Project Lakhta involved a “hacking and disinformation campaign” described in Special Counsel Robert Mueller’s 2019 Report as vast and complex in scale. The scheme involved human and technological input and targeted politicians on the political left and right, with a view to causing maximum disruption. Just a year later, Russia interfered in the 2020 race, this time spreading falsehoods about Biden and working in Trump’s favour.

Fast forward to 2024 and we are awash with AI-created images and writing. Now any sort of lie is possible. Deep fakes, voice, image and video manipulation now mean that we literally can no longer believe our ears and eyes.

Kellyanne Conway on alternative facts.

Meanwhile, back on the campaign trail in 2024, Team Trump demonstrates few qualms when dishing out alternative facts. A long-time proponent of “truthful hyperbole” the former real-estate dealer takes exaggeration to a point no longer on the scale. From sharing an AI-generated image of Taylor Swift endorsing him (she soon backed his opponent) to claims that helicopters were not getting through with hurricane relief, the news cycle is awash with baseless content.

An inevitable outcome of this crisis and conflict over truth is voters’ confusion and disengagement, and increasing public tension, with a new poll reporting that the majority of Americans are expecting violence after the election.

Voters deserve to know whether what they know is real, but in this campaign it is increasingly clear that they don’t and the consequences of this could be stark.

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

– ref. How a crisis of truth is putting US electoral system under stress – https://theconversation.com/how-a-crisis-of-truth-is-putting-us-electoral-system-under-stress-242046

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: US election: Puerto Rican voters could deliver Donald Trump an unwelcome ‘October surprise’

Source: The Conversation – UK – By Todd Landman, Professor of Political Science, University of Nottingham

As it moves into the final week, the US election campaign remains so tight that most commentators are calling it a toss-up. But Donald Trump’s campaign may have just dealt itself its own “October surprise” – something no candidate for the US president wants as it stands for a last-minute disaster.

At his much anticipated “closing argument” rally at Madison Square Garden in New York City on October 27, various warm-up speakers engaged in strong, dark rhetoric about the state of the nation that laid the ground for Trump to take the stage and assert his position as the “protector”,“fixer”, and “liberator” of what he and his support base like to think of as an “occupied” country.

But the tone and content of the event was problematic from the start. Comedian Tony Hinchcliffe made opening remarks in which he described Puerto Rico as an “island of garbage”.

Deep offence at these remarks rippled across America’s Puerto Rican community and beyond. His slur on Puerto Rico drew condemnation across the political spectrum and mobilised a rash of new endorsements for the Harris-Walz campaign. The incident has raised the prospect of a Puerto Rican backlash that could well have an impact on the outcome of the election.

Tony Hinchcliffe: an October surprise?

Causing such deep offence to a significant minority population at a crucial moment in the campaign could have real consequences. Ultimately, the outcome of the election is determined by electoral college votes. These, in the end, will rely heavily on tallies across seven swing states: Arizona, Georgia, Michigan, Nevada, North Caroline, Pennsylvania and Wisconsin.

The outcome of the 2016 and 2020 elections, although the Democrats received far more votes than the Republicans in total (3 million and 7 million, respectively), came down to very close margins across these swing states. In 2020, Joe Biden won the electoral college vote across these seven states – but with an average of less than half a percentage point (0.47%).

Why Puerto Rico matters

Puerto Rico is what is known as an “unincorporated territory” of the United States. Since it is not a state, it does not have any electoral college votes. But Puerto Ricans are citizens of the United States – a status they have enjoyed since 1917 – and can move freely between Puerto Rico and the mainland.

Those who reside in Puerto Rico may not vote in federal elections, but those who do live in the United States are eligible to vote in the states where they are registered.

Historically Puerto Ricans have been more likely to support the Democrats. But their turnout has been in consistent in the past. And both campaigns have made special effort to target this group. If enough people take offence at Hinchcliffe’s remarks, this could have a significant impact on the election result.

Millions of Puerto Ricans have made successful lives and careers in the US. As of 2021, Puerto Ricans make up 2% of the US population (5.8 million, up from 4.7 million in 2010). Despite this relatively low percentage overall, it is the distribution of the Puerto Rican population that makes them important in the presidential election.

The table below shows the Puerto Rican population across swing states in 2024 as well as the number of electoral college votes that are up for grabs in each state and the winning vote margin for Joe Biden in 2020. The figures in the table are for the whole Puerto Rican population.

Across these seven swing states, it is clear that the distribution of Puerto Ricans is not insignificant. This is especially the case in the key state of Pennsylvania. The total number and proportion of Puerto Ricans living there is easily large enough to affect the marginal vote share needed to tip the state to one of the two main political parties, which has 19 electoral college votes.

It’s telling that the Harris-Walz campaign was in Pennsylvania actively courting Latino voters at the same time the rally was underway in New York. The rapid impact from the rally manifested in real time and included the endorsement of the Harris-Walz campaign from world-famous celebrities.

Shortly after the remarks at the rally, Bad Bunny, the world’s most-streamed musical artist on Spotify between 2020 and 2022, endorsed Harris, as did singer Ricky Martin and actress Jennifer Lopez, whose parents come from Puerto Rico.

Bad Bunny showed his support by resharing with his millions of social media followers a video of Harris speaking about Trump’s response to the devastating hurricanes Irma and Maria that ravaged Puerto Rico in 2017. Ricky Martin posted “Esto es lo que piensan en nosotros” (This is what they think of us) with a tag of “vote for @kamalaharris”.

In a race where margins of victory are extremely thin, a small island country like Puerto Rico with its special status and mobile voters may just tip the scales in Harris’s direction.

Todd Landman receives funding from International Justice Mission, US State Department Trafficking in Persons Office, J. Sainsbury’s Ltd., and the US National Institute for Justice. .

– ref. US election: Puerto Rican voters could deliver Donald Trump an unwelcome ‘October surprise’ – https://theconversation.com/us-election-puerto-rican-voters-could-deliver-donald-trump-an-unwelcome-october-surprise-242326

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Five reasons Warhammer 40,000 should be considered a great work of science fiction

Source: The Conversation – UK – By Mike Ryder, Lecturer in Marketing, Lancaster University

Games Workshop, the British company behind the tabletop war game Warhammer and its futuristic counterpart Warhammer 40,000 (also known as Warhammer 40k), is now worth in the region of £3.75 billion. And it counts among its fans celebrities like Henry Cavill, Brian May and the late Robin Williams.

The original Warhammer (known as Warhammer Fantasy Battle) was a fantasy tabletop miniature war-game. Released in 1983 it featured J.R.R. Tolkien-esque orc, goblin, dwarf and elf characters. A few years later, Games Workshop launched a science fiction version of the game, Warhammer 40k, where many of the fantasy races were re-imagined for a futuristic science fiction setting.

Historically, many fans of science fiction have looked down on Warhammer 40k as something of a niche interest, the darker, grimier cousin of the clean-cut American franchises of Star Wars and Star Trek. But things are starting to change. Warhammer 40k is now so much more than a simple tabletop battle game. It is a whole universe of rich and diverse characters of great depth, and it is supported by a body of literature.

Here are five reasons the Warhammer 40k franchise is as worthy of science fiction fandom as its American cousins.

1. The grand scope of its format

Warhammer 40k is no longer just a miniatures game. Rather, it is a complete fictional universe far grander in scope than any other science fiction universe that exists today.

This multi-modal format means that fans don’t just have to collect model miniatures to enjoy it. There are so many different formats available, including animations, role-playing and video games, as well as comic books and the extensive literary publications from the Black Library, the publishing arm of Games Workshop.

2. The franchise’s scale

Warhammer 40k universe is huge. And I mean, seriously huge. The Horus Heresy series – the key saga that sets the context for the “present day” universe – spans some 54 books, with a further ten books mapping out the series’ conclusion.

This is arguably the biggest single collective literary undertaking in all of science fiction. The series started in 2006 with the novel Horus Rising, and has now reached its conclusion, with just the final few books awaiting their paperback release.

3. Depth of storytelling

Make no mistake, Warhammer 40k is no simple battle of good versus evil. Rather, it is a universe of deep politics, philosophy and nuance, where even the so-called “good guys” are forced to make difficult choices in the name of survival.

This tension is encapsulated in the leader of the Imperium (humanity), known as The Emperor, who has sat atop his golden throne for more than 10,000 years. He is sustained by the ritual daily sacrifice of thousands of souls, who give up their lives in order that he continue his psychic battle with the forces of chaos in the psychic realm, known as The Warp.

Such depth has helped the universe flourish over many decades, providing a constant stream of ideas for fans to engage with, and characters to explore.

4. The grimdark aesthetic

Such has been the impact of the Warhammer 40k universe that it has even spawned its own unique sub-genre of science fiction and fantasy, known as grimdark. Spearheaded by legendary artist John Blanche, grimdark is characterised by its bleak aesthetic that calls back to a kind of primordial existence, where day-to-day survival is not guaranteed.

This sub-genre extends far beyond the realms of Warhammer, even shaping the work of bestselling fantasy novelists such as Joe Abercrombie, author of The First Law trilogy.

5. Research potential

Researchers are also now starting to take Warhammer seriously. In September, Germany hosted the world’s first academic conference dedicated to all things Warhammer. The conference attracted almost 60 speakers, with academics from across the globe looking at the universe through their own particular academic lens.

Meanwhile, the depth of academic literature on Warhammer is also growing rapidly. In my own research I often write about science fiction and its potential to help us think about complex problems in new ways. With Warhammer, I have been able to explore what it means to be a soldier, and the symbolic relationship between the soldier and the state. I do this by exploring the portrayal of 40k’s most iconic characters, the space marines – genetically enhanced super-soldiers who live a monk-like existence committed to waging endless war against the enemies of mankind.

The Prime series Secret Level will feature a Warhammer 40k episode.

Time to go mainstream

While it is fair to say that Warhammer 40k has so far been fairly underrepresented in science fiction circles, it seems the tide is finally starting to turn. Just last year Games Workshop signed a deal with Amazon to produce a TV series. There will also be a Warhammer 40k animation, due for release in December 2024. There have also been several important critical successes for 40k in the realm of video games, the most recent example being Space Marine II.

With the growth of the tabletop hobby, the continued success of licensed video games and with an Amazon series on the horizon, we are now at a point where Warhammer is about to go mainstream. No longer is it merely a game of rolling dice, and painting model miniatures. Rather now, it is a huge and deeply significant work of science fiction, and one that is worthy of being spoken about in the same way as its American peers.

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

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

– ref. Five reasons Warhammer 40,000 should be considered a great work of science fiction – https://theconversation.com/five-reasons-warhammer-40-000-should-be-considered-a-great-work-of-science-fiction-241040

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI USA: Merkley, Wyden, Hoyle: $10.2 Million in Bipartisan Infrastructure Law Funding to Boost Eugene Transportation Projects

Source: United States House of Representatives – Representative Val Hoyle (OR-04)

October 28, 2024

For Immediate Release: October 28, 2024

WASHINGTON D.C. – Oregon’s U.S. Senators Jeff Merkley and Ron Wyden and U.S. Representative Val Hoyle announced today $10,215,123 in Bipartisan Infrastructure Law funds are headed to the Eugene area for two transportation projects. The federal grants awarded will support the deployment of a mobility app for residents and fund airport terminal reconstruction efforts at Eugene Airport (EUG), also known as Mahlon Sweet Field.

“Oregonians in every corner of our state should be able to get where they need to go safely and efficiently,” U.S. Senator Jeff Merkley said. “The Bipartisan Infrastructure Law was a once-in-a-generation investment that is bringing critical federal dollars to our communities for major transportation projects. These latest funds to the Eugene area will bring a first-of-its-kind app for everyone from students to rural Oregonians to connect with regional transportation options, as well as funds for energy efficiency and capacity upgrades at Eugene Airport. I’ll keep fighting for investments like these to better connect cities and towns across Oregon.”

“From mass transit on the ground to travel by air, I’m gratified these federal resources are headed to Eugene so Oregonians in and around the city can more easily get from Point A to Point B,” U.S. Senator Ron Wyden said. “I worked to pass the Bipartisan Infrastructure Law to generate investments just like these that expand modern, safe and energy-smart transportation opportunities throughout our state. And I’ll keep battling to bring similar transportation funds from this landmark law to every nook and cranny of Oregon.”

“The $5.3 million for LTD’s first-of-its-kind mobility app will help students with transportation challenges get to and from school and the $5 million for Eugene Airport will help us keep pace with the 41% growth in passenger growth over the last 5 years,” U.S. Representative Val Hoyle said. “I would like to thank Senators Merkley and Wyden, local leaders, as well as Secretary Buttigieg, the Department of Transportation, and the White House, for helping us ensure that Oregonian tax dollars always come back home to Oregon to invest in our local priorities and communities.”

The two U.S. Department of Transportation awards and project descriptions can be found below:

$5,215,123 for Lane Transit District (LTD)’s Regional Mobility-Enabling Service Hub (Regional MESH). Regional MESH will create a first-of-its-kind regional mobility management platform integrating diverse transit services for users, including school transportation, into one planning platform, design and deploy on-demand transit in a low-income school district and optimize existing fixed-route rural transit service. Data from trip queries from an associated trip planning app will inform future transit planning and performance management. This funding comes from the Federal Highway Administration’s Advanced Transportation Technologies and Innovative Mobility Deployment (ATTAIN) Program.

$5,000,000 for Eugene Airport to fund a portion of the Concourse A reconstruction and connector bridge expansion project including restroom and utilities upgrades to increase energy efficiency and capacity. This funding comes from the Federal Aviation Administration’s Airport Terminal Program.

“LTD has the necessary expertise to build a reliable and affordable practical service,” said Jameson Auten, LTD’s Chief Executive Officer. “We are grateful for the support that got us here from U.S. Senators Jeff Merkley and Ron Wyden, and U.S. Representative Val Hoyle.”

“We are so grateful to be awarded this competitive Airport Terminal Program (ATP) grant. This is the first step in furthering terminal expansion plans at the Eugene Airport to better serve our regional community,” said Cathryn Stephens, Airport Director.

###

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Senator Collins Announces Nearly $133 Million for Bridge Replacements in Penobscot, Kennebec Counties
US Senate News:
Source: United States Senator for Maine Susan Collins

Washington, D.C. – Today, U.S. Senator Susan Collins, Vice Chair of the Senate Appropriations Committee, announced that the Maine Department of Transportation (MaineDOT) has been awarded $132,676,036 for two projects in Penobscot and Kennebec County. This funding will assist in the rehabilitation or replacement of six bridges on Interstate-395 between Bangor and Brewer, and the replacement of six aging overpasses on Interstate-95 near Augusta. This funding was awarded through the U.S. Department of Transportation’s (USDOT) Bridge Investment Program (BIP). With these two awards, the State of Maine is receiving more than 20% of the nearly $635 million being awarded nationwide through the BIP this funding round. Senator Collins sent a letter to Transportation Secretary Pete Buttigieg in support of MaineDOT’s grant requests.

In 2021, Senator Collins, then the Ranking Member of the Transportation Appropriations Subcommittee, was part of the core group of 10 Senators who negotiated the text of the bipartisan infrastructure law. This law established the BIP, which is the single largest dedicated investment in bridge infrastructure since the construction of the Interstate highway system.

“This funding will make our roadways safer and more resilient by addressing bridges that are crucial to Maine’s infrastructure,” said Senator Collins. “Upgrading these routes will ensure that vital travel corridors remain accessible for residents, businesses, and commercial transport alike.”

“This funding will help fund a dozen significant bridge projects in Kennebec County and the Greater Bangor area,” said Bruce Van Note, Commissioner of the Maine Department of Transportation. “Our team will replace six deteriorating bridges in Sidney and Waterville that do not provide enough vertical clearance for interstate traffic. We will also make major improvements on six bridges along the I-395 corridor in Bangor and Brewer, including the rehabilitation of the Veterans Remembrance Bridge spanning the Penobscot River. These investments in our transportation system support safety, reliability, and economic opportunity. We thank Senator Collins and Maine’s entire Congressional delegation for their ongoing commitment to supporting critical infrastructure projects in our state.”

The funding is allocated as follows:
- I-395 Bridge Bundle Project – $63,016,563 to rehabilitate or replace six deteriorating bridges along I-395 to enhance safety and improve driving conditions for those traveling between Bangor and Brewer, benefiting both local and regional mobility.
- I-95 Accessibility Improvements Minimizing Heavy-Truck Impacts Project – $69,659,473 to replace six outdated bridges over I-95, bringing structures up to modern standards, allowing for safer heavy-truck passage, and reducing long-term maintenance needs on this critical route in Kennebec County.
According to the USDOT, the BIP provides funding for bridge replacement, rehabilitation, preservation, and protection projects that reduce the number of bridges in poor condition, or in fair condition at risk of declining into poor condition.

Since 2009, when Senator Collins became a member of the Appropriations Committee, she has secured more than $1 billion in competitive transportation grants for the State of Maine.
MIL OSI USA News –
January 25, 2025
MIL-OSI USA: McConnell Announces Over $38 Million in Federal Funding for Kentucky’s Railroads

US Senate News:

Source: United States Senator for Kentucky Mitch McConnell

WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) announced today that the U.S. Department of Transportation will award $32,183,290 to the R.J. Corman Railroad Group and $6,492,000 to the Louisville and Indiana Railroad Company (LIRC) through the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program.

R.J. Corman will use today’s award to rehabilitate tracks across multiple rail lines in Central and Western Kentucky, enhancing the efficiency and timeliness of its rail operations. The federal funding awarded to LIRC will support critical repairs to Clagg Bridge, an important rail bridge traversing the Ohio River between Louisville, Kentucky and Clarksville, Indiana that services both rail and waterway traffic.

Today’s awards are funded through the Infrastructure Investment and Jobs Act as well as annual appropriations from Fiscal Year 2023 and Fiscal Year 2024. Senator McConnell, a senior member of the Senate Appropriations Committee, contacted the U.S. Secretary of Transpiration in support of both railways’ competitive grant applications and advocated for CRISI funding in both the Bipartisan Infrastructure Law and the annual appropriations process.

“As a transportation and logistics hub, Kentucky’s railroads have been the linchpin of economic growth for generations of workers and job creators in the Commonwealth. The grants announced today will increase the speed, efficiency, and safety on two of Kentucky’s keystone rail operations, improvements that support good jobs and commerce across our state. I supported the Bipartisan Infrastructure Law precisely for projects like these, and I’ll continue to be a fierce advocate for Kentucky’s railroads, riverports, and waterways in years to come,” said Senator McConnell.

“We are incredibly grateful to the Federal Railroad Administration for this grant, as well as to Senator McConnell, officials, and communities that supported this initiative. This partnership with R. J. Corman and Logan Aluminum underscores the power of collaboration between the public and private sectors. By leveraging federal infrastructure dollars alongside private investment, we are maximizing economic development opportunities for rail infrastructure in Kentucky. These enhancements will not only strengthen our ability to serve our customers but will also benefit a range of manufacturing companies and industries in central Kentucky. By improving the transportation of key commodities—such as agricultural products, automotive components, and raw materials—this project will bolster the region’s economy, expand market access, and enhance the overall efficiency of our supply chain,” said R. J. Corman Railroad Group President and CEO Ed Quinn.

“The Louisville & Indiana Railroad is grateful for this award which will ensure that our 100-year-old lift span bridge over the Ohio River will remain a key component for our country’s economy for the next 100 years. I would like to thank everyone that made this happen with a special thanks to Senator McConnell whose support is greatly appreciated,” said LIRC President John Goldman.

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Mass Live: Sen. Elizabeth Warren calls on federal law enforcement to help Springfield with increasing gun violence

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren

October 24, 2024

Following 21 months of record gun violence that has left at least 55 people dead in Hampden County, a Springfield police officer blinded in one eye and the seizure of more than 620 firearms, U.S. Sen. Elizabeth Warren, D-Mass., is calling for federal authorities to help Western Massachusetts.

On Wednesday Warren sent a letter to Attorney General Merrick Garland and the Bureau of Alcohol, Tobacco, Firearms and Explosives with a five-point plan to better stop gun trafficking and crack down on illegal sales of guns to help the region.

The letter also is signed by multiple Massachusetts members of Congress, including U.S. Sen. Ed Markey and U.S. Reps. Seth Moulton, James McGovern, Lori Trahan, William Keating, Stephen Lynch and Jake Auchincloss.

…

Read the full story here.

By: Jeanette Deforge
Source: MassLive

MIL OSI USA News –

January 25, 2025
MIL-OSI Canada: Remarks by the Deputy Prime Minister announcing healthy meals for kids in Manitoba

Source: Government of Canada News

We’ve been through a tough time. When COVID first hit, our country suffered the deepest recession since the Great Depression. Our economy shrank by 17 per cent and it’s been tough getting out of that. In recent weeks, we’ve had some good news. What we’ve been seeing is light at the end of the tunnel. We are approaching a soft landing for the Canadian economy after the turbulence of the COVID recession and what followed.

October 18, 2024 – Winnipeg, Manitoba

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I would like to begin by acknowledging that we are in Treaty 1 territory and that the land on which we gather today is the traditional territory of the Anishinaabeg, Cree, Ojibway, Oji-Cree, Dakota, and Dene Peoples, and the homeland of the Red River Métis.

I want to start by saying a couple of things about the Canadian economy.

We’ve been through a tough time. When COVID first hit, our country suffered the deepest recession since the Great Depression. Our economy shrank by 17 per cent and it’s been tough getting out of that. In recent weeks, we’ve had some good news. What we’ve been seeing is light at the end of the tunnel. We are approaching a soft landing for the Canadian economy after the turbulence of the COVID recession and what followed.

What kind of good news am I talking about? First of all, inflation in September was at 1.6 per cent. That is in the lower end of the Bank of Canada’s target range, below the central target of two per cent. For the past nine months, inflation has been within the Bank of Canada’s target range. I know that is a relief for people here.

What that means is that interest rates are coming down, too. Canada was the first G7 country to lower interest rates for the first time, the first G7 country to lower interest rates for the second time and the first G7 country to lower interest rates for the third time. That is a relief for a lot of Canadians, a lot of Manitobans as well.

Wages and employment are going up. We had strong jobs numbers in September. The Canadian economy added 47,000 new jobs and unemployment went down a bit. For the past 20 months, wages have been outpacing inflation.

All these things are important for Canadians, for families like the parents of the kids here who want to ensure they can take care of their kids, feed their kids, pay their mortgage, pay their rent. What that economic progress means is that we as a country are able to make investments in our most precious resources, our kids.

That is why we announced the National School Food Program in the 2024 Budget, which is, in my opinion, one of our government’s key programs.

The National School Food Program is one of the most important investments we can make in our kids, in our families. It’s $1 billion over five years. It’s going to mean 400,000 kids can get fed at school, 400,000 kids who are hungry in their classroom are going to be able to have a snack or some breakfast or some lunch. That’s going to make such a difference to them, to their teachers. A family with two kids will save as much as $800 a year on groceries.

We can only deliver a program like this when we have provincial partners who share our values, who share our commitment to Canada’s kids. That’s what we have in Manitoba. That is why I am deeply thrilled to be able to announce today that we have a deal with the great province of Manitoba to invest in school food for Manitoba’s kids.

The federal government is investing $17.2 million over three years to expand school food programs in Manitoba. Manitoba is putting money on the table too. The result is 19,080 more kids in Manitoba are going to get school meals.

Manitoba is, as usual, in a leadership position with Premier Kinew. Manitoba is just the second province to conclude a school food deal. It’s meaningful for every parent who has a kid and knows their kid is going to get a snack, for every kid who’s not going to be hungry.

This is part of our government’s absolute commitment to investing in families and in children. It is a companion program to our national system of early learning and childcare, and Manitoba is also playing a leadership role in the country. You guys are down to $10 a day. That is fantastic. That is saving a family in Manitoba $2,610 per child per year, a real affordability measure. There is also the Canada Child Benefit, where a family can get up to $7,787 per child per year thanks to that benefit. When you put those programs together, this is a real investment in the most important people in our country, our kids.

I would like to thank the Government of Manitoba, especially Premier Kinew, who is an excellent partner for us. Our work is not always easy but, because we share the same values, we are able to work together to get things done.

We need our economy to grow, but that needs to be growth with a purpose. Our purpose needs to be to invest in Canadians. There is no better investment and no more important investment that we can make than investing in our beautiful, amazing, precious children. That’s what we’re here to celebrate today. Thank you.

MIL OSI Canada News –

January 25, 2025
MIL-OSI Global: MC Duke: a pioneering British rapper more people should know about

Source: The Conversation – UK – By Adam de Paor-Evans, Research Lead at Rhythm Obscura / Lecturer in the School of Art, Design and Architecture, University of Plymouth

MC Duke (Kashif Adham) was a key figure in the development of hip-hop in Britain in the late 80s. When he died in April, British rap lost a giant. From the East End of London, Duke strengthened the evolution of the genre in the UK by relating directly to US hip-hop and an emerging British rap identity through his lyrics and visual style.

At the time of MC Duke’s arrival on the rap scene, British hip-hop was transitioning from the electro-based sound by London artists such as DSM, Three Wize Men and Family Quest, to a more sample-based style, much like the sounds of US artists Eric B. and Rakim and Biz Markie.

In this transition, Duke emerged as the frontrunner in this new generation due to his embrace of hip-hop’s visual tropes as much as his sound.

His first release, Jus-Dis landed in 1987 on Hard As Hell! Rap’s Next Generation, a compilation released on Music Of Life – a staple label for homegrown British talent. Jus-Dis presents Duke’s battle rap attitude through the diss track – a concept where the song’s narrative attacks another party.

His lyrics and wordplay on the song title present social commentary on Britain and its legal system: “There ain’t no law, there’s only jus-dis.” Duke also brought the idea of the diss to live audiences throughout the UK by accelerating the dispute with Overlord X, another pioneering British rapper, as part of his stage routine.

His first proper single release, Miracles, the next year, visually presented MC Duke and his DJ, DJ Leader 1, for the first time to audiences. The record sleeve depicts Duke donning a bright red goose jacket, a black leather cap, Cazal-style shades, gold rope chain and a name belt buckle – all highly sought-after attire in hip-hop fashion.

These fashion choices linked the US image of rap with an emerging British one. In the US, rap pioneers T La Rock and Kool Moe Dee had previously used similar accessories on album covers to denote a sense of identity. In the UK, graffiti writers and breakdancers particularly were sporting name belt buckles.

Miracles heavily samples The Jackson Sister’s I Believe In Miracles, which was a mainstay of the rare groove scene that developed in London during the early 80s. With the inclusion of vocal samples from Run-D.M.C.’s Run’s House and Public Enemy’s Bring The Noise, Miracles starts to bring together a transatlantic idea of hip-hop.

Got To Get Your Own based on Reuben Wilson’s song of the same name and MC Duke’s follow-up single, I’m Riffin (English Rasta) heavily samples Funky Like A Train (link) by Equals, again a core record from many rare groove playlists.

The introduction to I’m Riffin (English Rasta) is sampled from the powerful speech by American civil rights leader Jesse Jackson from Introduction (Complete). This immediately frames MC Duke’s lyrics with a sense of Black identity and history, as he raps: “Known to speak about men of freedom, Look for books on King and read ‘em”.

Duke returns the narrative to a sense of the everyman: “We cover and smother another brother, Throw him away just like a used rubber,” twice referring to the system as at the heart of Black-on-Black crime.

Duke’s “English Rasta” pseudonym is also a comment on Jamaican culture in Britain, in particular the second generation who grew up through an evolving Black British identity.

M.C. Duke and DJ Leader 1’s debut album Organised Rhyme challenges the British class system, the aristocracy, colonialism and imperialism. Duke claims their associated visual tropes and brings them into a rap frame fusing tweed suits, hunting boots, Bentley cars and stately homes with the African medallions and chunky gold jewellery of hip-hop.

In 1990, Duke countered the conventions of the British aristocracy as a producer and performer on the album The Royal Family, a collective of artists from the Music Of Life camp, including the likes of Lady Tame and Doc Savage. This album resonates with US label-related collectives such as Marley Marl’s Juice Crew and The 45 King’s Flavor Unit. Again, this enforces the transatlantic approach to hip-hop that Duke maintained.

Duke’s work ensured British fans felt homegrown rap was becoming closer to US artists like Eric B. & Rakim and Public Enemy. Additionally, his music laid the foundation for future solo British rappers as diverse as Ty, Dizzee Rascal and Stormzy.

As well as being a forerunner in British hip-hop, Duke worked across dance genres and influenced many jungle, drum ‘n’ bass and grime emcees. As Jumpin Jack Frost (the DJ behind the seminal jungle track Burial, which he released under the alias Leviticus) attested: “Duke was a true trailblazer who was one of the first UK MCs with a major record deal … His legacy will be remembered as someone who helped to shape UK MCs from jungle to grime we all owe MC Duke a lot.”

MC Duke bridged the gap between US hip-hop history and set a new British trajectory for rap. His work should serve as a critical signpost for British rap audiences.

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

– ref. MC Duke: a pioneering British rapper more people should know about – https://theconversation.com/mc-duke-a-pioneering-british-rapper-more-people-should-know-about-229966

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Rising vet fees leave pet owners facing tough choices – and vets often bear the brunt

Source: The Conversation – UK – By Rachel Williams, Reader in Human Resource Management, Cardiff University

shutterstock SAI SU PAW KA/Shutterstock

If you’re a pet owner, you may have noticed increases in your vet bills in recent years. The average cost of pet booster injections increased by 48% in the UK between 2020 and early 2024, while pet insurance prices rose by 21% in the year to March. Many families are struggling to afford care for their pets.

But this situation isn’t just about rising prices – it’s about how these changes are affecting the people at the heart of veterinary care. For the past three years, I’ve been studying the experiences of early-career vets and what I’ve found is unsettling.

The vets I spoke to described an emotional and ethical struggle that goes far beyond routine pet care. They’re increasingly having to balance the cost of treatment with the welfare of animals – sometimes being forced to euthanise otherwise healthy pets because the owners can’t afford treatment.

Concerns about veterinary fees are also receiving national attention. The Competition and Markets Authority (CMA) is conducting an investigation into the sector, citing a lack of transparency in pricing and the dominance of corporate ownership. For example, 60% of UK vet practices are owned by just six companies, including VetPartners, MediVet and IVC.

Strikes at branches of Valley Vets in south Wales – the first in the UK veterinary sector – have also drawn attention to the issue of pay and the rising cost of treatment. Staff at the practice, owned by York-based VetPartners, are demanding a fair wage and pushing back against fee hikes that are pricing owners out of care.

For vets, the stakes are high. Many enter the profession out of a love for animals, but increasing costs force them into difficult conversations with owners who can’t afford the necessary treatment.

One early-career vet I interviewed described treating a four-month-old puppy with a broken leg. The owners couldn’t pay for surgery and had to make the heartbreaking decision to put the dog down. This not only caused distress to the family but also to the veterinary team performing the procedure.

Prevention

Veterinary practices are increasingly promoting preventative care to help avoid costly treatment down the road. But some pet owners view this merely as an attempt to maximise profit.

The Royal College of Veterinary Surgeons (RCVS), which regulates the sector, has expressed concern about a rise in abusive behaviour towards vets. The RCVS is encouraging owners to raise fee issues with practice owners rather than individual vets. Many practices have started removing abusive clients from their client lists, though some vets I spoke to were unhappy that abusive clients were allowed to return.

Vet students are taught how to discuss costs with clients. For many new vets, however, these conversations are nerve-wracking, particularly when charges are high. Several vets described how they “forgot” to charge for items or charged reduced amounts when they believed the fees were too high. In some cases, the vets believed that managers chose not to notice, whereas others were criticised.

But as vets gained experience, they also began to charge more accurately, partly due to valuing their training and expertise. They also realised that if they reduced a bill, clients were more likely to complain if the next vet charged correctly.

60% of UK vet practices are owned by just six companies.
FamVeld/Shutterstock

I found evidence that over time some vets became less emotionally attached to their patients, particularly when they had no long-term relationship with the owner. They always wanted to reduce suffering and provide the best care. At the same time, though, they were exasperated at owners who acquired pets without investigating future costs or who failed to set money aside for emergencies.

Some also expressed frustration at the owners of their practices imposing large fee increases. They described being ignored when warning managers that further fee increases would lead to a reduction in clients, and vindicated when clients left and associated income reduced.

The CMA review could potentially reshape the veterinary sector, introducing greater price transparency and competition. The RCVS has welcomed the investigation, seeing it as an opportunity for much needed legislative reform.

It is also seeking to extend its regulatory oversight to entire veterinary practices, not just individual vets and nurses. But it has warned the CMA to be cautious of breaking up businesses as this may lead to the closure of practices and leave pet owners without access to veterinary care.

Crossroads

The veterinary profession is at a crossroads. Rising costs, recruitment and retention challenges, as well as increasing emotional burnout are driving many vets to leave the profession. Meanwhile, pet owners are left struggling with tough decisions about how much care they can afford for their beloved animals.

There are no easy answers. Teaching veterinary students how to offer treatment options that fit different budgets could help reduce the emotional burden on both vets and owners. Addressing vet retention through manageable working hours, supportive workplaces and fair salaries may also reduce pressures.

Transparent pricing and educating owners about the real costs of pet care may help to enable more informed decisions. And giving vets a say in business and pricing decisions could help practices balance financial sustainability with compassionate animal care.

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

– ref. Rising vet fees leave pet owners facing tough choices – and vets often bear the brunt – https://theconversation.com/rising-vet-fees-leave-pet-owners-facing-tough-choices-and-vets-often-bear-the-brunt-241647

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Alzheimer’s drug approved in the UK, but it won’t be available on the NHS – here’s why

Source: The Conversation – UK – By Rahul Sidhu, PhD Candidate, Neuroscience, University of Sheffield

Donanemab is delivered intravenously to slow the progression of Alzheimer’s disease. Studio Romantic/ Shutterstock

The UK’s drugs regulator – the MHRA – has approved the Alzheimer’s drug donanemab, but it won’t be available on the NHS.

The National Institute for Health and Care Excellence (Nice), which determines what treatments are available on the NHS, decided not to recommend donanemab for NHS use. This is because of its cost, potential side-effects and what some consider insufficient benefits.

While Nice’s decision is disappointing for a lot of people (about 70,000 people people in England would have qualified to receive the drug), it’s important to know why the decision was made.

Slowing decline

A key characteristic of Alzheimer’s disease is the presence of amyloid plaques. These are sticky proteins that clump together and destroy brain cells (neurons), resulting in Alzheimer’s.

Donanemab is a monoclonal antibody – a lab-made protein that targets and binds to amyloid to help eliminate it. This treatment is administered by an intravenous infusion, so the drug is delivered directly into the bloodstream. Each session lasts about 30 minutes and is needed every four weeks.

In a clinical trial, donanemab was shown to be reasonably successful. The trial compared participants with early Alzheimer’s disease taking donanemab against those taking a placebo.

Donanemab slowed the decline in memory and thinking by as much as 35% in people in the early stages of Alzheimer’s disease. This is the equivalent of reducing the disease’s progression by four to seven months. Participants taking donanemab experienced a 40% slower decline in their ability to perform daily tasks, including managing finances, driving and enjoying hobbies.

Donanemab helps eliminate amyloid from the brain.
Signal Scientific Visuals/ Shutterstock

While these results are promising, it’s important to note that the clinical trial had some limitations.

The trial lasted only 18 months, so it remains unclear how donanemab’s effects will play out long-term for those using it. Future studies will be needed to explore the long-term effects.

Although the trial had a large sample size of 1,736 participants with early Alzheimer’s disease, 90% of the participants were white. More diversity in clinical trials is needed to ensure that donanemab is effective for people of all races and ethnic backgrounds. Unfortunately, this lack of diversity is a common issue in medical research.

But the major drawback with donanemab was its side-effects. About 80% of the side-effects participants experienced were either mild or participants showed no symptoms at all and side-effects were only picked up in further tests.

However, 15% of participants had a serious side-effect. This included brain swelling or small brain bleeds known as amyloid-related imaging abnormalities. This may initially cause mild symptoms such as headaches, confusion or dizziness. But without constant monitoring, these conditions can become detrimental to health.

There were three deaths believed to be linked to this brain swelling among the 853 participants who were administered the drug.

Another concern in using the drug relates to the existing difficulties with diagnosis. To even qualify for the treatment, patients must be in the very early stages of Alzheimer’s disease – and already have confirmed high amyloid levels through a PET scan or lumbar puncture.

In the UK, only 2% of dementia patients receive these gold-standard diagnoses. More than one-third of people living with dementia don’t receive a diagnosis at all.

Improved and more accessible diagnostic methods would ensure more patients are eligible to receive the drug at the optimal time.

But the key reason donanemab isn’t available through the NHS is its cost. The treatment is estimated to cost around £25,000 a year per patient, based on the US cost. This does not include the expense of brain scans to monitor its effects.

Additionally, it requires monthly infusions at the hospital and careful monitoring for side-effects, which may seem excessive considering the treatment’s modest benefits.

The future for Alzheimer’s treatments

Nice’s decision on donanemab closely mirrors the decision they made about lecanemab in August 2024. This was the first ever Alzheimer’s slowing drug approved by the MHRA, and, like donanemab, is only available via private healthcare. The reasons both drugs were rejected by the Nice and the NHS are similar – with costs and side-effects being the main concerns.

While people with dementia and their families may feel let down by this decision, the fact that these new therapies can slow the disease, even slightly, offers hope.

Nice will be reassessing donanemab in 2025. There are also over 100 drugs currently in clinical trials for treating Alzheimer’s. Hopefully, one of these will prove to be as effective, if not more effective, as donanemab but with fewer side-effects and at a lower cost.

Still, it’s a remarkable step that there are two drugs licensed in the UK for treating Alzheimer’s. Although there’s still a way to go before an NHS treatment is readily available.

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

– ref. Alzheimer’s drug approved in the UK, but it won’t be available on the NHS – here’s why – https://theconversation.com/alzheimers-drug-approved-in-the-uk-but-it-wont-be-available-on-the-nhs-heres-why-242127

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Scabies outbreak in UK universities – what you need to know

Source: The Conversation – UK – By Michael Head, Senior Research Fellow in Global Health, University of Southampton

Sarcoptes scabiei Arshindi/Shutterstock

Scabies is an itchy skin infection that sees outbreaks across the world.

It is caused by mites, similar to but much smaller than head lice. These mites burrow under the skin, lay eggs and reproduce, causing an immune response which generates the unpleasant itching associated with the disease.

Outbreaks often occur in institutional settings, such as residential care homes for the elderly. In October 2024, outbreaks around UK university settings were reported in the media.

The incubation period for scabies is typically four to six weeks. This is the time between being infected – a mite getting onto and then under the skin – and a patient showing symptoms such as the classic unpleasant itch.

So, the cases reported in October 2024 would have been infected mid to late September, around the time of student arrival at their universities around the country.

Given this long incubation period, it can be difficult to prevent and control outbreaks. The condition can also be difficult to diagnose because the clinical presentation on the skin can be tricky to spot – for example, between the fingers.

Transmission is typically by prolonged skin-to-skin contact and sharing contiminated bedding, towels, clothes and soft furnishings where the mites can wait and crawl onto the next person who uses them. Guidance recommends washing bedding, clothes and towels at high temperatures to kill the mites, or if that is not possible then to seal the items inside plastic bags for three to four days.

Stigma and under-reporting

Data from The Royal College of General Practitioners’ report on communicable and respiratory disease in England for October 2024 indicates that the reported case numbers of scabies are higher than the seasonal average.

These official figures are also likely to be conservative. Like many skin infections, scabies is a stigmatised disease and so under-reporting or late reporting are common.

There is a perception that scabies is a disease “of the unwashed”. This is likely to be incorrect, with the burrowing of the scabies mites meaning they simply cannot be washed away by bathing. Also, scabies can appear in areas covered by clothes, including in the groin or on the buttocks – another reason for stigma and under-reporting. This means the data we have is likely to be much lower than the true number of cases.

Treatment and prevention

Treatment is usually a skin lotion called permethrin or sometimes another cream called malathion. In order to be effective, these creams have to be rubbed all over the body, not just at the site of infection.

Ivermectin, taken orally, is also extremely effective at curing scabies and can be prescribed to control outbreaks. Public information campaigns can help with alerting the general public and describing the possible symptoms.

The World Health Organization defines a range of diseases as Neglected Tropical Diseases (NTDs). As the name indicates, the majority of these are mostly found in tropical countries. These include skin infections such as leprosy and mosquito-transmitted diseases such as dengue. However, scabies is unique among NTDs in being common in more temperate environments such as the UK. The mites thrive in almost all climates, and an infection does not go away unless correctly diagnosed and treated.

In September 2023, there were scabies outbreaks and treatment shortages in the UK. It is uncertain whether there are shortages in the October 2024 outbreak. Regardless, anyone with a persistent itch or known contact with a scabies case should report this to a healthcare worker for follow up.

While scabies does not kill many people, it is a thoroughly unpleasant infection that causes significant impact on quality of life. Awareness and early reporting can help to bring outbreaks to a rapid conclusion.

Michael Head has previously received funding from the Bill & Melinda Gates Foundation, Research England and the UK Department for International Development, and currently receives funding from the UK Medical Research Foundation.

– ref. Scabies outbreak in UK universities – what you need to know – https://theconversation.com/scabies-outbreak-in-uk-universities-what-you-need-to-know-242237

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Security: Defense News: Navy Announces Latest Shore Energy Achievements During Energy Action Month

Source: United States Navy

National Clean Energy Action Month provides a valuable opportunity for the DON to spotlight the importance of energy as a strategic asset and catalyst for mission success. Amongst this year’s successes are advancements in enhanced energy security and shore and operational energy issues, Enhanced Use Leases (EULs) and Marine Energy Development (MED), the Energy & Water Analysis Tool (EWAT), the development of the Chief Sustainability Officer (CSO) Serial titled “Shore Energy Goals,” and youth education and outreach.

Underlying all of these efforts is a DON strategy focused on three Cs – Climate, Communities, and Critical Infrastructure that emphasize execution of core strategies via the 3 Pillars of Energy Security – Reliability, Resiliency, and Efficiency.

“Energy security is mission success,” said Assistant Secretary of the Navy for Energy, Installations and Environment Meredith Berger. “As we celebrate Energy Action Month, we reflect on the ambitious energy goals we’ve set and the great progress we’ve made throughout the year that ensure we continue to build a climate-ready force. Our Sailors and Marines rely on and respond to energy issues in their daily operations, and the DON’s persistent focus on energy security coupled with our strategic partnerships with the community enable mission success for our Naval force.”

Increased energy security was at the forefront in October with the release of an industry request for information (RFI) to explore concepts for the development of nuclear power facilities to support increased energy security at seven Navy and Marine Corps installations in the United States. The responses are expected to enable the Department to further consider alternative carbon-free shore energy opportunities and build upon the DON’s commitment to enhance energy security as a responsible community partner.

New focus has also been given to the intersection of shore and operational energy issues, to bridge the gap between installations and the warfighters they serve. Amongst the installation efforts being explored are pier-power assessments at naval bases to ensure ships and submarines receive resilient and quality power. Other efforts focused on the warfighter include a renewed opportunity for a Masters of Operational Energy degree at the Naval Postgraduate School that will equip graduates with the essential skills required to enhance their effectives in the modern battlespace whether on a ship, submarine, aircraft, or on land.

Energy partnerships with States and industry benefit both the Navy and the communities we live in. Enhanced Use Leases (EULs) are one way that the DON works with our neighbors to ensure energy resilience. The Navy recently entered into two EULs that, upon completion, will provide more than 250-megawatts of renewable energy to the local utility, Hawaiian Electric Company (HECO), and full-base resilience for the DON in the event of a grid outage. As part of the EULs, the Kūpono Solar site provides clean, renewable energy and battery storage to approximately 10,000 homes on O‘ahu while offsetting 50,000 tons of CO2 emissions annually. The Pu`uloa Energy site, currently in development, will provide additional renewable energy generation and battery storage, improving island-wide power reliability and contributing to the State of Hawai’i’s goal of achieving 100% renewable energy by 2045.

In pursuit of innovative renewable energy technologies, the DON’s Marine Energy Development (MED) program explores ways to ensure marine energy – a consistent, clean, and renewable power source – remains a reliable and sustainable energy source for naval facilities and remote applications. As part of the program, the DON’s Wave Energy Test Site (WETS), situated at Marine Corps Base Hawaii on O’ahu, Hawai’i, is the United States’ first and only grid-connected wave energy test site playing a vital role in advancing cutting edge wave energy technology by providing a dynamic real-world environment and supporting wave energy converter

(WEC) developers. Another Department of Energy project, Ocean Energy, is also scheduled to be grid-connected at WETS within the year.

In April 2024, the DON launched the Energy & Water Analysis Tool (EWAT) online dashboard that provides timely, accurate installation energy operational data, for agile and responsive energy resilience investments and operational decisions. The next phase of EWAT will include an increased cadence of data reporting, the inclusion of project pipeline impacts on future usage, and the addition of enhancements to track progress against energy and water conservation, carbon-pollution free electricity, and renewable energy goals. Together, they will improve resilience and readiness by ensuring that the Navy and Marine Corps are maximizing the resources they rely on for quality of life, training, logistics, and combat support: energy and water.

Aligned with the Department of Navy’s Climate Action 2030 strategy and the objectives of Executive Order 14057, the Navy continues its commitment to drive energy innovation and prioritize environmental responsibility. As part of this, the DON released the fifth CSO Serial titled “Shore Energy Goals”, which builds on the DON’s commitment to enhance energy security and targets that commitment with sustainability practices and concrete actions that fortify the reliable, resilient, renewable energy Navy installations and communities need.

A renewed focus on youth education was brought to the forefront when Assistant Secretary of the Navy for Energy, Installations, and Environment Meredith Berger spoke with Sea Cadets and Naval Junior Reserve Officer Training Corps cadets at a climate and energy technology demonstration in September where she discussed the importance of climate and energy. Berger also joined DON researchers and engineers at the U.S. Armed Forces Recruiting Station in Times Square during Climate Week NYC where they showcased technologies, such as hydrogen-powered fuel cells, small unit power systems, water-conserving firefighting nozzles, atmospheric water generation, and green concrete, to educate students on the DON’s commitment to climate action and inspire them to explore careers in climate and energy focused roles.

“Having these young Sea Cadets and NJROTC cadets – the future of our nation – learn about our climate and energy technologies was a fantastic way to kick off Climate Week in NYC,” said Berger. “They clearly understand how climate change is impacting our world and how climate readiness is mission readiness for the Navy.”

The Office of the Assistant Secretary of the Navy for Energy, Installations and Environment serves the Department of the Navy and the nation by enhancing combat capabilities for the warfighter through a focus on communities, critical infrastructure, and climate action. Specifically, the portfolio focuses on renewable, reliable, resilient energy sources, sustainability and construction, maintenance and sustainment of infrastructure, protecting the safety and occupational health of military and civilian personnel; environmental protection in support of mission readiness, planning and restoration ashore and afloat; and conservation of natural and cultural resources.

MIL Security OSI –

January 25, 2025
MIL-OSI Security: Twillingate — Twillingate RCMP investigates break, enter and theft at Friday’s Bay lookout trail in Fairbank
Source: Royal Canadian Mounted Police

Twillingate RCMP is investigating a break, enter and theft that occurred sometime overnight on October 24, 2024, at Friday’s Bay lookout trail in Fairbank.

Shortly after 12:00 p.m. on October 25, 2024, police received a report that a shed, located in the parking lot near the entrance to the trail, had been broken into. The following is a list of tools that were stolen:
- DeWalt DCS391B 165mm circular saw
- DeWalt DCD771C2 cordless drill x 2
- Square measuring tape
- Hammers x 3
- Box of #8 x 3″ screws
The investigation is continuing.

Anyone having information about this crime, the person(s) responsible, or the location of the stolen property is asked to call Twillingate RCMP at 709-884-2811. To remain anonymous, contact Crime Stoppers: #SayItHere 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app.

MIL Security OSI –
January 25, 2025
MIL-OSI Security: Gander — Gander RCMP investigates theft from Dominion in Gander, seeks public’s assistance (UPDATED)

Source: Royal Canadian Mounted Police

Update #2: Thanks to the assistance of the public, the woman was identified.

Update: Gander RCMP thanks the public for the information received on the identity of the woman. Efforts are underway to confirm the information received.

On August 29, Gander RCMP received a report of a theft from Dominion in Gander. Surveillance video showed a woman stealing a cart full of grocery items with a suspected value of more than $900.00.

Local efforts by Gander RCMP to identify the suspect have been exhausted. A picture of the woman is attached and the investigation is continuing.

Anyone with any information about the identity of the woman pictured is asked to call Gander RCMP at 709-256-6841. To remain anonymous, contact Crime Stoppers at 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app. #SayItHere

MIL Security OSI –

January 25, 2025
MIL-OSI Security: Whitehorse — Police respond to a fatal motor vehicle collision

Source: Royal Canadian Mounted Police

On October 26 at approximately 2:00 a.m., Whitehorse RCMP responded to a motor vehicle collision involving a pickup truck and tractor trailer on the Alaska Highway near the Porter Creek subdivision.

Yukon Emergency Medical Services and the Whitehorse Fire Department assisted at the scene and a 37-year-old male from Whitehorse was found deceased.

The section of the Alaska Highway from Birch Street to Wann Road was closed to traffic and a detour was established to allow traffic to bypass the area while an M Division RCMP Collision Analyst attended to collect evidence. The closed section of highway was re-opened to the public on October 26 at approximately 5:00 pm.

Whitehorse RCMP and the Yukon Coroner’s Service continue to investigate.

Our condolences go out to the friends and family of the deceased and all affected persons.

MIL Security OSI –

January 25, 2025
MIL-OSI USA: October 28th, 2024 Heinrich, Luján, Leger Fernández Welcome Over $1 Million to Break Down Barriers to Home Ownership for New Mexicans Living With HIV/AIDS

US Senate News:

Source: United States Senator for New Mexico Martin Heinrich

SANTA FE, N.M. — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), and U.S. Representative Teresa Leger Fernández (D-N.M.) welcomed $1,345,637 for the Santa Fe Housing Trust to provide more pathways to first-time home ownership to 2,050 New Mexicans living with HIV/AIDS.

This grant is funded through the U.S. Department of Housing and Urban Development’s Housing Opportunities for Persons With AIDS (HOPWA) Program. The HOPWA program is the only federal program dedicated to the housing needs of people living with HIV/AIDS and their families.

During the domestic HIV/AIDS crisis, individuals surviving with HIV/AIDS faced barriers to employment and incurred expensive medical costs. This trend continues and disproportionately impact low-income individuals who are struggling to afford stable housing even before diagnosis and treatment. The financial and health vulnerabilities associated with HIV/AIDS often result in housing instability and homelessness. Research shows individuals living with HIV/AIDS who have a stable place to live have more positive health outcomes and spend less time in hospitals or emergency rooms.

“We should be making it easier for all New Mexicans to become homeowners. Full stop,”said Heinrich. “This funding will break down barriers for individuals living with HIV/AIDS to become first-time home buyers, ensuring more folks have a safe and secure place to call home. I’ll keep fighting to increase our housing stock, bring down the cost of housing, and ensure all people in our state have a shot at achieving the dream of home ownership.”

“No New Mexican should ever worry about whether they will have a safe place to sleep at night,” said Luján. “I’m proud to welcome more than $1.3 million in federal funding that will help allow New Mexicans living with HIV/AIDS to secure permanent, stable housing so they can focus on their health. I will continue to fight to expand housing options for all New Mexicans.”

“Home is more than a roof you live under, it provides safety and stability,” said Leger Fernández. “As we work to tackle the home affordability crisis across the country, we must use all tools available to help. We know one of the biggest hurdles homebuyers face is saving up for a downpayment. This $1.3 million for the Santa Fe Housing Trust will provide funding for important services like down payment reduction assistance for first-time home buyers living with HIV/AIDS. I’ll continue to fight for funding that helps our communities through legislation like my Home of Your Own Act which would also help first time homebuyers with down payment assistance.”

Background

Heinrich, Luján, and Leger Fernández are tireless advocates for lowering housing costs, increasing housing supply, and expanding housing affordability and access for families in New Mexico.

Through Heinrich’s role as a member of the Senate Appropriations Committee, particularly through his seat as Chairman of the Senate Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies, Heinrich has worked to deliver millions of dollars to New Mexico for renters and home buyers.

Most recently, Heinrich secured Committee support for the following investments in Fiscal Year 2025 (FY25) Appropriations:

In Heinrich’s Fiscal Year 2024 Agriculture Appropriations Bill, he secured $1.6 billion for rental assistance, an increase of $120 million over Fiscal Year 2023. Heinrich’s 2024 Appropriations Bill also provided for a pilot program that decoupled rental assistance from Multifamily Direct Loans, preventing thousands of low-income families from losing rental assistance.

Additionally, Heinrich secured $1,100,000 through the Fiscal Year 2024 Appropriations process for Santa Fe Habitat for Humanity to develop land into a mixed-income development focused on building 25 to 30 housing units for working families. In total, Heinrich has secured $14,500,000 in Congressionally Directed Spending (CDS) for northern New Mexico to address the housing shortage.

In May, Heinrich, Luján, Leger Fernández, and the N.M. Congressional Delegation welcomed $11.8 million from the U.S. Department of Housing to support public housing authorities build, renovate, and modernize public housing across New Mexico.

In February, Heinrich, Luján, Leger Fernández, and the N.M. Congressional Delegation welcomed more than $16 million in federal funding from the U.S. Department of Housing and Urban Development’s (HUD) Continuum of Care program to support New Mexico projects that provide housing assistance and supportive services to people experiencing homelessness.

Luján has also been a champion of expanding access to affordable housing for all New Mexicans. Earlier this year, Luján partnered with Heinrich to push for more funding for Tribal housing programs.

Through Luján’s work on the Senate Committee on Health, Education, Labor and Pensions, Luján has also fought to secure critical support for individuals living with HIV/AIDS.

Luján introduced the bipartisan Ryan White PrEP Availability Act, bipartisan legislation to increase flexibility for Ryan White HIV/AIDS Program clinics, which provide care and treatment for individuals living with HIV/AIDS.

In the Fiscal Year 2023 (FY23) Appropriations package, Luján secured $300,000 to advance the goals of his Oral Health Literacy Act and support the Ryan White HIV/AIDS Program.

Heinrich and Luján have also introduced a number of bills to tackle New Mexico’s housing crisis.

Last month, Heinrich introduced the New Homes Tax Credit Act, legislation that would provide tax credits to incentivize new investments and additional resources for single-family home construction and renovations for working families. The bill would address the lack of housing inventory for individuals and families whose incomes are up to 120 percent of the area median income (AMI), particularly including in areas where middle-income families have historically been priced out. In Albuquerque, Santa Fe, and Las Cruces, New Mexico, for example, this added housing inventory would benefit families with annual incomes of up to $103,680, $109,800, and $78,960, respectively.

At a recent roundtable conversation with local educators in Albuquerque, Heinrich announced his Educator Down Payment Assistance Act, legislation designed to help more educators and school staff in New Mexico purchase a home and keep teachers in the communities where they teach.

In March, Heinrich co-led the First-Time Homebuyer Tax Credit Act, legislation to support homeownership among lower- and middle-income Americans by establishing a refundable tax credit worth up to 10 percent of a home’s purchase price – up to a maximum of $15,000 – for first-time homebuyers.

Heinrich also cosponsored the Housing for All Act, comprehensive legislation to expand access to affordable housing in New Mexico and supporting those experiencing homelessness. The bill would invest in proven solutions and provide a historic level of federal funding for strategic, existing programs to keep people housed and reduce homelessness, as well as for innovative, locally developed solutions to help vulnerable populations experiencing homelessness.

Last year, Heinrich introduced the Affordable Housing Credit Improvement Act, which would help build over 14,000 new affordable homes in New Mexico over the next decade, generating over $2.5 billion in wages and business income. The legislation would support the financing of more affordable housing by expanding and strengthening the Low-Income Housing Tax Credit, our country’s most successful affordable housing program.

Heinrich also introduced the Delivering Essential Protection, Opportunity, and Security for Tenants (DEPOSIT) Act, which would help an estimated 12,000 New Mexican families access rental housing through the Housing Choice Voucher Program to pay security deposits and get into a rental home. Luján is also a cosponsor of this bill.

In January, as Chairman of the U.S. Joint Economic Committee (JEC), Heinrich released a report highlighting policy approaches to increasing housing supply in America. Heinrich also chaired a JEC hearing on the report. His full opening statement can be found here.

Luján introduced the bipartisan Homes for Every Local Protector, Educator, and Responder Act of 2023 or the HELPER Act of 2023, legislation that would establish a new home loan program under the Federal Housing Administration (FHA) to make homeownership more accessible to teachers and first responders.

Luján also introduced the bipartisan Reforming Disaster Recovery Act, legislation that would establish a community disaster assistance fund for housing.

Additionally, Luján introduced bipartisan legislation to expand Native American housing programs that builds on successful Native American housing programs at the Department of Housing and Urban Development (HUD) authorized by the Native American Housing Assistance and Self-Determination Act (NAHASDA).

Luján and Heinrich introduced the bipartisan Native American Rural Homeownership Improvement Act of 2021, legislation that would expand an existing U.S. Department of Agriculture (USDA) pilot program and deploy loans to eligible Native borrowers.

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Video: Cassidy Showcases Recent Energy Security Summit, Highlights Foreign Pollution Fee Act in New Video

US Senate News:

Source: United States Senator for Louisiana Bill Cassidy

(Click here to download and here to watch)
WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) showcased his recent “Louisiana Energy Security Summit: Unleashing America Abundance in a Changing Global Landscape” in a new video. The summit, hosted in Baton Rouge, Louisiana, in mid-October, brought together leaders from the federal, state, and local government, industry, the research community, and elsewhere. During his keynote address and fireside chat, Cassidy highlighted his Foreign Pollution Fee Act, which would even the playing field for American manufacturers while holding China accountable.
“Right now, China is taking jobs from the United States by not enforcing environmental regulations. If the United States wants the jobs back, we got to begin to make China pay,” said Dr. Cassidy. “My Foreign Pollution Fee Act works for fairness, works for job creation, and stops giving China a cost advantage. It allows us to build a stronger economy not just for Louisiana but for our country.”
The summit featured ten panels which explored protecting U.S. interests from unfair trade practices, Louisiana’s low emissions manufacturing advantage, and the role of natural gas in strengthening U.S. geopolitical influence. Panelists included presidents and CEOs from Entergy, First Solar, Buzzi UnicemUSA, Orsted, and Aluminum Technologies, former Trump administration officials, and leaders from Louisiana trade associations and major energy and Fortune 500 companies.
Background
Cassidy and U.S. Senator Lindsey Graham (R-SC) introduced their Foreign Pollution Fee Act to level the playing field with Chinese manufacturing and expand American production.
In September, he released the 3rd episode of Bill on the Hill, where he highlights his Foreign Pollution Fee Act and discusses China’s growing economy and military coming at the expense of the American worker. After hearing fellow Americans share their concerns, Cassidy presented his plan to address the nexus between economic development, national security, and the environment. His Foreign Pollution Fee Act would even the playing field while holding China accountable.
He penned editorials in Foreign Affairs, The Washington Times, and jointly in the USA Today Network discussing the geopolitical threat that China poses to U.S. global standing. Cassidy also joined Greta Van Susteren on Newsmax to discuss his foreign pollution fee, noting the competitive advantage China receives from intentionally ignoring environmental standards.
Last Spring, the Louisiana Senate and House of Representatives unanimously adopted a resolution urging Congress to pursue an industrial manufacturing and trade policy to counter competition from China. Learn more here.
Last Congress, Cassidy released a landmark energy policy outline in response to the Biden administration’s assault on domestic energy. The outline details how we can successfully reset U.S. energy policy, including Cassidy’s plan for an Energy Operation Warp Speed to cut permitting red tape and unleash domestic energy and manufacturing. In support of this complete vision and in addition to the Foreign Pollution Fee Act, Cassidy led Republican colleagues in opposition to a domestic carbon tax and introduced the first comprehensive judicial reform for permitting bill. He also pushed back on disastrous proposals from the Biden administration to limit development in the Outer Continental Shelf with the introduction of the WHALE Act and the Offshore Energy Security Act of 2023.

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Pelosi Announces Nearly $25 Million for San Francisco Downtown Rail Extension

Source: United States House of Representatives – Congresswoman Nancy Pelosi Representing the 12th District of California

San Francisco – Speaker Emerita Nancy Pelosi announced that San Francisco is set to receive nearly $25 million in federal grants from the U.S. Department of Transportation. This federal funding will help connect California High-Speed rail and Caltrain commuter service to the Salesforce Transit Center.

“Safe, affordable and accessible public transit is key to San Francisco’s economic recovery and to saving the planet from the climate crisis. I salute the Biden-Harris Administration’s commitment to reimagining our nation’s infrastructure, with equity and justice for all,” Speaker Emerita Nancy Pelosi said.

Speaker Emerita Pelosi continued: “This new federal investment, made possible by Democrats’ historic Infrastructure Law, will help further unite the Bay by completing the final design for the Downtown Rail Extension. Doing so is essential to make it easier for commuters to get to work, for shoppers to support our local businesses and for communities to stay connected, while reducing our City’s carbon footprint.”

“Thank you to Transbay for its extraordinary vision, bold leadership and vital partnership in building a better-connected San Francisco,” Speaker Emerita Pelosi concluded.

Adam Van de Water, Executive Director of the Transbay Joint Powers Authority, said: “Shortly after the Bipartisan Infrastructure Law was signed into law, Speaker Emerita Pelosi spoke from the train box level of the Salesforce Transit Center to convey the importance of BIL for the future of all Californians. The Transbay Joint Powers Authority cannot understate the critical role the Speaker Emerita has played in ensuring the creation of a seamless network of transportation options and we are thrilled to be selected to receive a CRISI award to further San Francisco’s rail connection to Caltrain and California High-Speed Rail through the Portal. Thank you for your steadfast commitment, Speaker Emerita.”

The Transbay Joint Powers Authority will receive $24.6 million to complete the final design for the track and rail systems that will connect California High-Speed rail and Caltrain commuter service to the Salesforce Transit Center. The project will create jobs and make it easier and cheaper for San Franciscans to utilize public transportation to travel to work, to health care, to schools and to community facilities throughout the entire Bay Area.

This funding was awarded to the Bay Area from the Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program in a competitive national selection process by U.S. Transportation Secretary Pete Buttigieg.

MIL OSI USA News –

January 25, 2025
MIL-OSI USA: Physician Charged in Scheme to Illegally Sell Cancer Drugs

Source: US Department of Health and Human Services – 3

Department of Justice
U.S. Attorney’s Office
Eastern District of Michigan

FOR IMMEDIATE RELEASE
Friday, October 25, 2024

Detroit – A Royal Oak physician was charged in an Indictment for his role in a multi-million-dollar scheme to illegally sell and divert expensive prescription cancer drugs, United States Attorney Dawn N. Ison announced.

Joining Ison in the announcement were Special Agent in Charge Mario M. Pinto, U.S. Department of Health and Human Services, Office of Inspector General (HHS-OIG), Special Agent in Charge Cheyvoryea Gibson, Federal Bureau of Investigation (FBI), Special Agent in Charge Angie M. Salazar, Homeland Security Investigations (HSI), and Special Agent in Charge Ronne Malham, U.S. Food and Drug Administration (FDA).

Charged in the Indictment is Dr. Naveed Aslam, age 51, of West Bloomfield, Michigan.

The charges against Dr. Aslam include one count of conspiracy to illegally sell or trade prescription drugs and 10 counts of illegally selling or trading prescription drugs.

According to the Indictment, by early 2019, and continuing through August 2023, Dr. Aslam, a licensed physician, worked with others to buy and sell expensive cancer drugs for profit and with the intent to defraud and mislead. The other individuals Dr. Aslam worked with identified customers interested in buying prescription cancer drugs, and they communicated with Dr. Aslam about what cancer drugs were requested. Dr. Aslam used his access to certain cancer drugs through his medical practice, Somerset Hematology and Oncology, P.C., to order and purchase the cancer drugs from his supplier. He then sold the cancer drugs to and through the other individuals’ company to the eventual customer. During this scheme, Dr. Aslam acquired and sold more than $17 million in prescription cancer drugs, and personally profited more than $2.5 million.

“The safety and integrity of our country’s prescription drug supply lines – particularly for cancer drugs – is an important part of our health care system,” stated U.S. Attorney Ison. “As alleged, Dr. Aslam used his role as a physician to violate that integrity and divert prescription cancer drugs away from treating patients. My office is committed to prosecuting medical professionals who seek to profit, rather than protect, our health care system.”

“Our agency is dedicated to ensuring that medical providers follow laws designed to protect both the integrity and solvency of Federal health care programs, as well as the beneficiaries they serve,” said Mario M. Pinto, Special Agent in Charge of the U.S. Department of Health and Human Services Office of Inspector General (HHS-OIG). “HHS-OIG will continue to work closely with our Federal law enforcement partners to thoroughly investigate allegations of fraud.”

“Having the authority to prescribe medication is a privilege that comes with a profound responsibility. Physicians must safeguard against drug diversion,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI in Michigan. “Dr. Aslam’s alleged participation in this scheme not only allowed him to profit unlawfully from the sale of cancer drugs, but it also posed a serious threat by potentially placing these medications into the wrong hands. This breach of trust is inexcusable, especially considering the critical nature of the drugs involved. The FBI is unwavering in its commitment to hold medical professionals accountable for exploiting their positions for personal gain and endangering community safety.”

“Introducing diverted prescription drugs into the supply chain and selling them to unsuspecting consumers undermines the FDA safeguards designed to protect the public,” said Ronne Malham, Special Agent in Charge, FDA Office of Criminal Investigations, Chicago Field Office‎. “We remain committed to bringing to justice those who place their personal gain over the health of American consumers.”

“A physician’s ethical responsibility is to their patients, not to selling cancer drugs under the table for profit,” said HSI Detroit Special Agent in Charge Angie M. Salazar. “We will protect patients against fraud, especially from those in positions of public trust who choose greed over public safety.”

An indictment is only a charge and is not evidence of guilt.

The case is being prosecuted by Assistant United States Attorney Andrew J. Lievense. Assistant United States Attorney Jessica A. Nathan of the Money Laundering & Asset Recovery Unit is handling related forfeiture matters. The investigation is being conducted jointly by the FBI, HHS-OIG, HSI, and the FDA.

MIL OSI USA News –

January 25, 2025
MIL-OSI Australia: Sydney Airport Traffic and Operational Performance Q3 2024
Source: Sydney Airport

Tuesday 29 October 2024
- Sydney Airport delivers strong performance in Q3 with a total of 10.3 million passengers
- Improvements to international border experience set to streamline process
- New Group Executive to join Sydney Airport to help deliver ~$4.4bn capital program over the next five years.
Sydney Airport delivered strong performance in Q3 (July, August, and September 2024) with a total of 10.3 million passengers passing through the terminals. This represents a 3.3 per cent increase on passenger traffic during the same period last year and a 92.5 per cent recovery compared to Q3 2019.

Sydney Airport’s T1 international terminal saw 4 million passengers pass through in Q3, a 5.8 per cent increase on the same period last year and a 95.7 per cent recovery rate on Q3 2019.

Domestic and regional passenger traffic was up 1.8 per cent on the same period last year, with 6.3 million passengers coming through the T2 and T3 domestic terminals and a 90.5 per cent recovery rate on Q3 2019.

From an operational perspective, Sydney Airport performed strongly in Q3 2024, posting improvements across all operational metrics compared to Q3 2023. Highlights included 100 per cent of passengers passing through security in under 10 minutes and no instances where kerbside drop-off times at the domestic terminal exceeded 10 minutes.

Sydney Airport is also working closely with Australian Border Force to improve inbound border processing. As a result of this collaboration, Sydney Airport will purchase additional E-Gate kiosks which the ABF will then operate – an example of industry and government working together to help streamline the passenger experience.

Scott Charlton, Sydney Airport CEO, said: “Despite the headwinds we’re seeing in terms of supply chains affecting airline capacity, we’re pleased with how we are tracking on international passenger traffic.

“We’ve seen a significant increase in airline seat capacity that’s translating into passenger numbers from countries like India, the Philippines and South Korea increasing relative to 2019 levels. In the case of South Korea, this nationality has increased by 54 per cent compared to 2019 and in Q3 moved above the United Kingdom to become our 5th largest passenger group.

“We remain optimistic on the outlook for Chinese passengers as tour groups return, and with new mainland China carriers like Juneyao Air joining before the end of the year, and existing carriers boosting capacity, we expect to finish the year very close to pre-COVID levels of Chinese passengers.

“Domestically, performance remains impacted by a shift in discretionary business travel.

“Operationally, we’re consistently beating our 10-minute metric for kerbside drop-off times and security processing, which is pleasing because it reflects our focus on creating a faster and more efficient experience for passengers. We are also continuing with our transparency agenda and will shortly be launching kerbside wait times on our website, which follows the deployment of live security wait times back in May.

“Providing visibility into how the airport is performing in real time is important in terms passengers planning their trip to the airport, and getting an insight into what their experience will be like when they get here.”

New Group Executive to join Sydney Airport

Paul Willis will be joining Sydney Airport in November as Group Executive – Planning and Delivery.

Paul joins from Manchester Airport Group (MAG), where he has spent the last nine years as Chief Development Officer, Group Strategy and Aviation Director and Engineering Services Director.

Before MAG, Paul spent over 20 years working on the development of airport infrastructure across leading international airports, and he started his career with National Air Traffic Services in the UK. He brings extensive aviation and airport experience ranging across planning, design, construction, commercial development, and operations.

Mr Charlton said: “Given the size and complexity of our capital program over the next five years, it’s important that we have someone with deep experience in the airport infrastructure space.

“Paul brings significant experience in designing and delivering complex aviation capital programs and we are looking forward to welcoming him in November.”

Passenger and operational performance data

Click here for the Q3 passenger and performance data.

MIL OSI News –
January 25, 2025
MIL-OSI: Extraordinary Experiences Cultivate Loyal Brand Advocates

Source: GlobeNewswire (MIL-OSI)

Solidifi releases results from its Annual 2024 Consumer Mortgage Experience Survey⁽¹⁾and the Solidifi 2024 Future Plans of Homeowners Survey⁽²⁾

BUFFALO, N.Y. and DENVER, Oct. 28, 2024 (GLOBE NEWSWIRE) — The sixth annual national survey⁽¹⁾ commissioned by Solidifi U.S. Inc. (“Solidifi”) revealed pent-up demand for home purchases remains strong even amid uncertain market conditions. The 2024 results offer valuable insights on how to make homeownership more accessible for borrowers as the market shifts and how to create extraordinary experiences and cultivate loyal brand advocates to drive future business.

“The findings show that during times of uncertainty, brand loyalty strengthens as consumers seek stability in their financial decisions,” said Solidifi President Loren Cooke. “The leading factor in lender choice continues to be a strong lending relationship. As a majority of consumers face increasing affordability issues, their propensity to bundle services with lenders also increases. And, this year more than ever, consumers are acting on their positive experiences – driving repeat and referral business.”

This year, the survey also introduced the mortgage industry’s Net Promoter Score (NPS), which received a solid 53 – well above the 30+ NPS benchmark for the financial services sector. “Interestingly, Gen Z consumers rated the industry lower, with a 34 NPS compared to all other demographics whose scores were in the 50’s. This suggests an opportunity to engage younger generations by focusing on transparency and building meaningful connections,” added Cooke. “Across generations, providing extraordinary experiences instills trust within the lender’s customer base and consumers become more likely to continue to expand existing relationships,” Cooke concluded.

In addition to the Annual 2024 Consumer Mortgage Experience Survey⁽¹⁾, Solidifi also conducted the 2024 Future Plans of Homeowners Survey⁽²⁾ to explore how market conditions influence borrowers’ future real estate plans. The Solidifi 2024 Future Plans Survey revealed that while affordability issues remain prevalent, borrowers are increasingly researching options and adjusting expectations. Despite rising costs, homeownership continues to be seen as a pathway to generational wealth, with 60% of respondents planning to purchase a home within the next three to five years.

“Though higher interest rates have left many borrowers hesitant, the intent to buy remains strong. The median timeframe for future purchases is now around 2.25 years,” noted Cooke. “Exurb migration is outpacing urban growth as consumers seek more space, affordability, and better quality of life – trends particularly notable in underserved markets.”

For future borrowers, the rising cost of homeownership and a feeling of not being prepared are the largest barriers to entry. This year, borrowers faced greater difficulty with down payments; credit score challenges were on the rise, and many were increasingly motivated by the need to access cash for life events. Lenders are addressing this by offering special programs to overcome barriers to homeownership and rising housing costs. In 2024, borrowers were more informed about the special programs available to help reduce their costs in anticipation of their next move.

“Consistent with results from the past five years, borrowers continue to prioritize in-person interactions for both appraisals and closings,” said Cooke. “Across all generations, face-to-face engagement continues to be preferred due to the trust and care it fosters during what is the most significant financial transaction in a person’s life. However, there are opportunities to raise awareness, encourage adoption, and increase acceptance of digital tools throughout the process to provide the efficient, transparent and personalized experience consumers want.”

Results indicated that 82% of respondents prefer an in-person closing though Gen Z is most open to hybrid closing processes at 39%. Of the 82% who prefer face-to-face interactions: 56% prefer a paper process, 19% prefer in-person with fully electronic documents, and 25% prefer an in-person hybrid process. The top reasons for preferring face-to-face interactions are trust and the ability to get immediate answers during such a significant transaction.

“Results point to a direct relationship between offering convenience, transparency and flexibility, and a higher customer satisfaction,” said Cooke. “Providing an extraordinary experience including proactive communication throughout the transaction, convenient scheduling options, offering closing options and meeting expectations will result in happy customers, every time.”

To download the full survey results, visit: go.solidifi.com/2024mortgageexperiencesurvey.

^[1]
In the Solidifi 2024 Consumer Mortgage Experience Survey, Market Street Research surveyed 1,000+ residential borrowers 18 years of age or older in the United States who purchased, refinanced or closed on a home equity loan or line of credit within the last two years. Panelists included a mix of those who purchased a home, refinanced or obtained a home equity loan or line of credit with approximately 49% closing within the past year, and 51% closing one to two years ago.

^[²^]
In the Solidifi 2024 Future Plans of Homeowners Survey, Market Street Research, surveyed 1,100+ residential borrowers 18 years of age or older in the United States who are a current homeowner or intend on owning a home at some point in the future. 56% of respondents currently own a home, 10% previously owned a home and 34% have never owned a home. Panelists included a mix of future buyers across the U.S. and those in underserved markets.

Both surveys were fielded by Snap Surveys, and the panels were sourced by Dynata. Fielding was executed July 2024.

About Solidifi
Solidifi is a leading network management services provider for the residential lending industry. Our platform combines proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending services. We are a leading independent provider of residential real estate appraisals and title, and settlement services. Our clients include top 100 mortgage lenders in the U.S. Solidifi is a wholly-owned subsidiary of Real Matters (TSX: REAL). Visit www.solidifi.com for more information and stay connected with our latest news on LinkedIn.

For more information:
Jennie Craig
Vice President, Marketing
jlcraig@solidifi.com
832.236.3392

Solidifi and the Solidifi logo are trademarks of Real Matters and/or its subsidiaries. All other trademarks are the property of their respective owners.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0d1d0e2-8767-4632-a822-15904de0041d

The MIL Network –

January 25, 2025
MIL-OSI USA: Feenstra Helps Lead Letter Demanding Answers from USDA over Pure Prairie Poultry Fiasco

Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

HULL, IOWA – Last Friday, U.S. Rep. Randy Feenstra (R-Hull) helped lead a letter with U.S. Senator Chuck Grassley (R-IA), U.S. Rep. Brad Finstad (R-MN), and U.S. Rep. Derrick Van Orden (R-WI) to U.S. Secretary of Agriculture Tom Vilsack demanding answers about the U.S. Department of Agriculture’s 2022 approval of nearly $46 million in taxpayer dollars for Pure Prairie Poultry and its subsequent bankruptcy in late September.

“Iowa taxpayers deserve to know the full story behind the Pure Prairie Poultry bankruptcy and how the USDA approved nearly $46 million in taxpayer dollars for a company that left millions of chickens uncared for. This serious lack of oversight is extremely concerning and has caused massive uncertainty for our growers who are already facing a harsh farm economy,” said Rep. Feenstra. “Our letter to USDA will help us get answers for our growers and address the federal government’s carelessness with taxpayer dollars. I commend Secretary Naig for responding quickly and professionally to this crisis.”

“USDA has provided millions of dollars in taxpayer-funded loans and grants to meat and poultry processors across the country, which is why my colleagues and I are calling on USDA to provide answers,” said Rep. Finstad. “While expanding livestock markets and processing capacity is critical for farm country, the lack of oversight of these dollars by USDA harmed producers and caused a significant disruption to our nation’s food supply chain.”

“USDA is responsible for keeping tabs on the taxpayer-funded grants it administers, but it clearly dropped the ball with Pure Prairie. Iowans and others across America’s Heartland have lost their jobs and their poultry market as a result of Pure Prairie’s closure. USDA must explain to Congress and the public what went wrong to help prevent a repeat scenario,” said Sen. Grassley.

Pure Prairie Poultry’s bankruptcy left approximately 1.3 million broiler chickens in Iowa without feed causing Secretary Naig and the Iowa Department of Agriculture and Land Stewardship to take over care, custody, and control of the birds in Iowa. After several alternative efforts were made to sell the broilers, depopulation of the birds in Iowa concluded last Friday.

The full letter can be found HERE.

###

MIL OSI USA News –

January 25, 2025

Category: Transport

How do Harris’s plans compare?

A climate of uncertainty

Old challenges, new technology

Why Puerto Rico matters

1. The grand scope of its format

2. The franchise’s scale

3. Depth of storytelling

4. The grimdark aesthetic

5. Research potential

Time to go mainstream

Prevention

Crossroads

Slowing decline

The future for Alzheimer’s treatments

Stigma and under-reporting

Treatment and prevention

New Group Executive to join Sydney Airport

Passenger and operational performance data