Category: Transport

  • MIL-OSI Russia: Dmitry Patrushev discussed the organization’s development strategy until 2030 with the head of Rosgeology Kirill Levin

    Translation. Region: Russian Federal

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

    Deputy Prime Minister Dmitry Patrushev held a working meeting with Kirill Levin, CEO and Chairman of the Management Board of JSC Rosgeologia. The meeting discussed the progress of the implementation of the roadmap for fulfilling the instructions of the President of Russia to ensure financial stabilization of the Rosgeologia holding company.

    Dmitry Patrushev drew attention to the need for unconditional fulfillment of all obligations under the program “Reproduction and Use of Natural Resources” and the project “Geology: Revival of a Legend”, as well as under commercial contracts with subsoil users.

    Also during the meeting, Dmitry Patrushev and Kirill Levin discussed the work plan for preparing an updated strategy for the organization’s development until 2030.

    JSC Rosgeologia is the largest geological holding company in the country, fulfilling the state order for the reproduction of the mineral resource base of the Russian Federation. Its structure includes more than 40 enterprises carrying out a full range of geological exploration work, including prospecting for solid minerals, parametric drilling and seismic exploration for hydrocarbon raw materials, and marine research.

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

    MIL OSI Russia News

  • MIL-OSI USA: Issues Revisited: Titles, Amendments to Rule 15c2-12 Undertakings and Voluntary

    Source: Securities and Exchange Commission

    Good afternoon. Thank you to the Government Finance Officers Association (“GFOA”) for inviting me to speak with you today. In my role as the Securities and Exchange Commission’s (“Commission” or “SEC”) Director of the Office of Municipal Securities (“Office of Municipal Securities” or “OMS”), I get a front row seat to see how government finance professionals strive to advance the continued integrity of the municipal securities market. However, I also get a front row seat to some concerning behaviors that may impact the investor confidence and transparency of the municipal securities market. 

    As is customary, I must remind you that this speech is provided in my official capacity as the Commission’s Director of the Office of Municipal Securities but does not necessarily reflect the views of the Commission, the Commissioners, or other members of the staff.

    I. What’s in a Title?

    Before I delve into disclosure practices, I would like to start by offering my views on another area of concern to which OMS is paying careful attention. It’s been fifteen years since Congress created a new class of regulated person required to register with the Commission: municipal advisors.[1] But when I speak with market participants or pick up an official statement or visit an issuer’s website, I am regularly confronted with a title that imprecisely[2] reflects the nature of the relationship between municipal entities and/or obligated persons and their advisors: financial advisor.[3]

    While some of you may view using the terms “financial advisor” and “municipal advisor” to be interchangeable when discussing hiring a professional to negotiate terms of a transaction or verify pricing as just a matter of a title, Congress expressly defined those persons who engage in municipal advisory activities[4] as “municipal advisors”.[5]

    I’m going to start with why I think it’s helpful to use regulatory terms. Although not required, using regulatory terms such as “municipal advisor” in solicitations and offering documents is helpful because it clearly indicates to investors that those professionals are subject to the rules and regulations designed to protect investors and municipal entities[6] and obligated persons.[7] Additionally, using defined regulatory terms in these documents may be helpful to municipal entities and obligated persons in avoiding including confusing or ambiguous statements in disclosures to investors.

    Now, for the what. Let’s start with hiring professionals. Municipal entities and obligated persons often retain various professionals through a competitive request for proposal/qualification (“RFP/Q”) process. Before anyone objects, you’re correct: responses to RFP/Qs do not on their own constitute municipal advisory activity.[8] I have, however, observed instances (most notably in public-private partnerships[9] and charter schools[10]) where the work or services requested in the RFP/Qs would require the selected professional to be registered as a municipal advisor because they would be providing advice with respect to the issuance of municipal securities or the use of municipal financial products. In our review of these RFP/Qs, we have either seen municipal entities be silent on requiring that respondents to an RFP/Q be registered as a municipal advisor with the Commission and Municipal Securities Rulemaking Board (“MSRB”) or, worse, affirmatively say that registration as a municipal advisor is not a requirement.[11]

    Given that unregistered entities may be engaging in what appears to be municipal advisory activity, you may want to confirm not only that any professional providing municipal advisory services to you is properly registered[12] but also that you have in your RFP/Qs for services or work constituting municipal advisory activity a requirement that respondents be registered with the Commission and the MSRB as municipal advisors in order to submit a response. At a minimum, I do not believe these RFP/Qs should be soliciting the services of a “financial advisor” or “consultant” which may create the impression that they do not need to be registered with the Commission or the MSRB. If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs.

    Another area where I see a concerning use of “financial advisor,” where “municipal advisor” should be used, is in your offering documents. As previously mentioned, municipal advisor is more than just a title: it is a regulatory term. Using “municipal advisor” tells investors that the firm, its associated persons, and its activities are subject to rules and regulations; that the Commission monitors municipal advisors for compliance; and takes necessary action to enforce Congress’s mandate. If you use municipal advisors in your transactions, I think it would be beneficial to use the defined term “municipal advisor” in your offering documents to accurately describe the professionals fulfilling that role. Using a term that is explicitly defined by law may also help avoid including confusing or ambiguous statements in disclosures to investors.

    There are also strong benefits to being involved with or retaining persons or firms registered and regulated as municipal advisers, as it demonstrates that these persons or firms recognize that they are engaging in municipal advisory activity. Registering as a municipal advisor may also demonstrate that the advisor understands that it has certain legal obligations, including a requirement to register unless an exclusion or exemption applies. These obligations include, among other things, a requirement to disclose to clients any material conflicts of interest. If you remember nothing else from today, remember this: your municipal advisor is required to always act in your best interest.

    II. Observations on Amendments to Continuing Disclosure Undertakings

    Now turning to disclosure practices. When the Commission proposed amendments[13] to Rule 15c2-12 (“Rule 15c2-12” or “Rule”)[14] of the Securities Exchange Act of 1934 (“Exchange Act”) in 1994[15] prohibiting underwriters, subject to certain exemptions, from purchasing or selling municipal securities covered by the Rule in a primary offering, unless the underwriter had reasonably determined that the issuer (or obligated person) had undertaken in a written agreement or contract[16] (“continuing disclosure undertaking”) to provide specified annual information and event notices,[17] practitioners expressed concern[18] that the amendments were not sufficiently flexible to address changing conditions to financial and pertinent operating information. The Commission addressed practitioners’ concerns when it adopted the amendments.[19]

    a. NABL 1 Letter

    The Commission explained in the 1994 Amendments Adopting Release that Rule 15c2-12, as amended, requires that continuing disclosure undertakings specify only the general type of information to be provided[20] and that undertakings should be drafted with sufficient flexibility to accommodate for subsequent developments that may require adjustments in the financial information and operating data contractually agreed upon in the undertaking.[21] Shortly after adoption of the amendments, the National Association of Bond Lawyers (“NABL”) requested[22] staff guidance interpreting an issue that I see continues to be debated thirty-one years later: amending continuing disclosure undertakings.

    Let’s take a moment and revisit the statements made by staff on amending continuing disclosure undertakings in response to the NABL 1 Letter.[23] Staff first noted that in meeting the requirement that annual financial information be specified in reasonable detail, staff anticipated that continuing disclosure undertakings would set forth a general description of the type of financial information and operating data that would be provided. Staff further observed that these descriptions would not need to state more than a general category of financial information and operating data. Moreover, staff noted that where a continuing disclosure undertaking calls for information that no longer can be generated because the operations to which it related had been materially changed or discontinued, a statement to that effect would satisfy the continuing disclosure undertaking. In such instances, staff explained that it may be good practice to provide similar operating data with respect to any substitute or replacement operation. Further, staff noted that issuers and obligated persons may provide additional information that is not required by the terms of the undertaking. Accordingly, the staff did not anticipate that it often would be necessary to amend informational undertakings.

    In addition to providing guidance on the circumstances under which an undertaking could be amended, the staff also provided several examples[24] of annual financial information descriptions. For example, categories of operating data provided for a college or university facility bond offering might include, among others, information regarding attendance, applications, and tuition and room and board rates charged to students. In a water or sewer financing, categories of information provided might include, among others, customers, rates, use, capacity, and demand.

    b. Current State of Continuing Disclosure Undertakings

    Now I would like to take the opportunity to reflect on the current state of continuing disclosure undertakings. Since the 1994 amendments promoted flexibility in drafting continuing disclosure undertakings, staff has heard that practitioners have discovered ambiguities and inconsistencies in their continuing disclosure undertakings that have resulted in overlapping, inconsistent, and outdated information in required disclosures. Consequently, practitioners continue to struggle with questions about amending continuing disclosure undertakings and have asked the staff for guidance on this issue.

    To start, I want to remind practitioners that Rule 15c2-12, as amended, offers flexibility in the content and scope of disclosed financial information.[25] The Rule specifies only general types of information relating to the financial information and operating data to accommodate for any subsequent developments that would require adjustments to the data.[26] Further, adhering to your continuing disclosure undertakings does not preclude you from providing additional information, particularly where disclosure may be necessary to avoid liability under the antifraud provisions.[27]

    The staff recognizes that, despite the staff interpretive guidance in the NABL 1 Letter, which elaborated on statements in the 1994 Amendments Adopting Release, some obligated persons have continued to provide specific and relatively unflexible descriptions of annual financial information or operating data in the continuing disclosure undertakings by, for instance, pointing to specific tables of information in an official statement because they believe it makes it easier for issuers and dissemination agents to comply with the undertaking. Although Rule 15c2-12 does not prohibit such specificity or incorporation by reference,[28] I believe that where obligated persons choose to include references to specific tables or similar specificity, they might consider including language allowing for flexibility, such as describing tables “of the type” or tables “of the kind” provided in the official statement.

    The inclusion in continuing disclosure undertakings of clear descriptions of the disclosures to be made by municipal issuers and obligated persons promotes a more transparent and efficient market. However, drafters of continuing disclosure undertakings may want to be mindful when specifying the particular types of information that will be provided for many years into the future, as continuing disclosure undertakings are contractual obligations that cannot be amended based on a unilateral decision by an issuer or any other party. With very limited exceptions, issuers and obligated persons may not later decide unilaterally what types of information an investor would consider necessary or meaningful, especially where such information has previously been agreed upon.[29]

    Continuing disclosure undertakings would be meaningless if issuers and obligated persons could unilaterally determine that certain types of information were no longer necessary or meaningful to investors.[30] Despite previous requests from the market for guidance on amending continuing disclosure agreements, I remind you that those agreements are contracts governed by state law[31] from which the Commission does not have the authority to provide exemptions. Failure to comply with continuing disclosure undertakings would be breaches of contract enforceable by private parties.[32] This is why staff statements have focused on using language in continuing disclosure agreements that allow for changing conditions.

    III. The Importance of Voluntary Disclosure in the Municipal Securities Market

    Sound, timely, and accurate disclosures of the financial condition and operating status of issuers and obligated persons promotes the continued integrity of the municipal securities market.[33] As we all know, Rule 15c2-12 requires that continuing disclosure undertakings set forth certain enumerated requirements. Rule 15c2-12 does not generally impose an obligation to provide ongoing information beyond the contractual continuing disclosure obligations. I am of the view, however, that voluntary disclosures[34] — providing information beyond contractual continuing disclosure obligations — by issuers and obligated persons can provide market participants with updated financial and other disclosures regarding the effects of evolving economic conditions.[35]

    a. Improving Transparency and Market Efficiencies

    Issuer organizations and other market participants have noted that providing voluntary interim disclosure can serve the interests of municipal issuers and have developed voluntary disclosure best practices designed to improve the quality and quantity of voluntary disclosure in the secondary market.[36] GFOA issued a Best Practices on Voluntary Disclosure in 2021.[37]

    I am of the view that if issuers and obligated persons provide voluntary disclosures of their financial condition and operating status on a more frequent basis, the additional information could potentially reduce information asymmetries and help investors and other market participants identify early warning signs of an issuer’s or obligated person’s deteriorating financial condition sooner (such as budget deficits and imbalances, high unfunded pensions liability, and decreases in property value), which could lead to increased market efficiencies.

    Some examples of helpful voluntary disclosures that municipal issuers and obligated persons could consider disseminating are[38]

    • More Timely Financial Information. Municipal issuers routinely prepare periodic reports containing financial information and/or operating data, such as investment positions, interim financial information, or capital improvement plans, for various non-disclosure purposes,[39] which are generally produced in accordance with governance documents, best practices, and generally accepted guidelines. Municipal issuers could consider submitting such reports via the repository designated by the Commission (currently the MSRB’s Electronic Municipal Market Access (“EMMA”) system) and/or through their own designated website.
    • Reports Prepared for Other Governmental Purposes. Municipal issuers and obligated persons may have prepared reports addressing relevant climate, cybersecurity, litigation, or other risks for other purposes.
    • Reports and Information Shared with Third Parties. Reports prepared to be shared with rating agencies, bank loan providers or other market participants may also include information material to investors.[40]
    • Information Regarding Availability of Federal, State and Local Aid. If it materially affects, or is reasonably likely to materially affect, your ability to repay debt service, you could make available a description of available aid that you have sought or are planning on seeking and any other material terms of the aid to investors.
    • Information Regarding Non-Routine Events that May Impact an Issuer’s Ability to Repay Securities. For instance, a large business relocating to your jurisdiction may have a positive impact, while a natural disaster may have a negative impact. Sharing information with the market on any non-routine events that may impact your ability to repay debt service could be helpful.

    In my view, making any voluntary disclosures available in the place or places where they regularly make information available to investors, such as on the EMMA system and/or on their own websites, would be helpful to both issuers and investors.

    b. Observations on Liability

    I sometimes hear from issuers that they would disclose more information to the market, but that their counsel advises them, as a matter of course, not to provide any information that is not required. I recognize that the issue of liability is often raised in connection with voluntary disclosures.

    I believe that accompanying voluntary disclosures that contain projections or forward-looking statements with meaningful cautionary language — including, for example, (1) a description of relevant facts or assumptions affecting the reasonableness of reliance on and the materiality of the information provided, (2) a description of how certain important information may be incomplete or unknown, and (3) the process or methodology (audited versus unaudited) used by the municipal issuer or obligated person to produce the information — could not only improve the quality of the disclosure but also help mitigate associated legal risks.

    As I observe the municipal securities market and consider appropriate paths to address behaviors that impact investor confidence and transparency, I believe that it would be beneficial for municipal issuers to disclose, to exercise reasonable care, and to follow best practices in the creation and release of any voluntary disclosure.

    It’s always a pleasure to speak with members of the GFOA. Thank you again for the invitation to discuss these important issues with you today.


    [1]           See Section 975(a)(1)(B) (15 U.S.C. 78o-4(a)(1)(B)) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act” or “Dodd-Frank”).

    [3]           While state statutes or other governing documents may reference the selection or designation of a “financial advisor” in connection with the issuance of bonds, I am of the view that the term “municipal advisor” should also be used in any RFP/Qs and offering documents issued in these jurisdictions when the requested service may include municipal advisory activity. In the event a state statute or other governing document references “financial advisor” or other term, it may be appropriate to use both terms with appropriate definitions and cross-references.  

    [4]           Pursuant to Exchange Act Rule 15Ba1-1(e) (15 CFR 240.15Ba1-1(e)), “municipal advisory activities” includes, but is not limited to, “[p]roviding advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issue.”

    [5]           See Exchange Act Section 15B(e)(4)(A) (15 U.S.C. 78o-4(e)(4)(A)). The definition of municipal advisor includes financial advisors, guaranteed investment contract brokers, third-party marketers, placement agents, solicitors, finders, and swap advisors that provide municipal advisory services, unless they are statutorily excluded. See 15 U.S.C. 78o-4(e)(4)(B). The statutory definition of municipal advisor excludes a broker, dealer, or municipal securities dealer serving as an underwriter (as defined in section 77b(a)(11) of this title), any investment adviser registered under the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.), or persons associated with such investment advisers who are providing investment advice, any commodity trading advisor registered under the Commodity Exchange Act or persons associated with a commodity trading advisor who are providing advice related to swaps, attorneys offering legal advice or providing services that are of a traditional legal nature, or engineers providing engineering advice. See 15 U.S.C. 78o-4(e)(4)(C). The Commission exempts the following persons from the definition of municipal advisor to the extent they are engaging in the specified activities: accountants; public officials and employees; banks; responses to requests for proposals or qualifications; swap dealers; participation by an independent registered municipal advisor; persons that provide advice on certain investment strategies; certain solicitations. See Exchange Act Rule 15Ba1-1(d)(3)(i) through (viii) (17 CFR 240.15Ba1-1(d)(3)(i) through (viii)).

    [6]           See Registration of Municipal Advisors, Exchange Act Release No. 70462 (Sept. 20, 2013), 78 FR 67468, 67509 (Nov. 12, 2013) (“Municipal Advisor Adopting Release”).

    [7]           The timeline for being required to register as a municipal advisor when advising clients about conduit financing or other financing options is dependent on certain facts and circumstances. See id. at 67485.

    [8]           Id. at 67475.

    [11]         While the Dodd-Frank Act is a federal law, the municipal advisor registration requirements apply to advice with respect to the issuance of municipal securities regardless of the proposed source of funds used to repay those securities, which may include local tax revenue, state or federal revenue or grants or funds paid by a private lessee or purchaser. The staff is aware of publicly available documents where a state or local government has stated that municipal advisor registration is only required for municipal securities being repaid with federal funds.

    [12]         See Speech, Responsibilities of Regulated Entities to Municipal Issuers, supra note 2.

    [13]         See Exchange Act Release No. 33742 (Mar. 9, 1994), 59 FR 12759 (Mar. 17, 1994) (“1994 Amendments Proposing Release”).

    [14]         See 17 CFR 240.15c2-12. The Commission adopted Rule 15c2-12 in 1989 to enhance disclosure in the   municipal securities market by codifying standards for underwriters to obtain, review, and disseminate disclosure documents. See Exchange Act Release No. 26100 (Sept. 22, 1988), 53 FR 37778 (“1988 Proposing Release”); Exchange Act Release No. 26985 (June 28, 1989), 54 FR 28799 (July 10, 1989) (“1989 Adopting Release”). Rule 15c2-12 requires an underwriter acting in primary offerings of municipal securities with an aggregate principal amount of $1,000,000 or more to obtain and review an official statement “deemed final” by an issuer of the municipal securities, except for the omission of specified information, prior to making a bid, purchase, offer, or sale of municipal securities. See 17 CFR 240.15c2-12(a) and (b)(1).

    [15]         The Commission has amended Rule 15c2-12 over the years to respond to evolving market practices. See Exchange Act Release No. 34961 (Nov. 10, 1994), 59 FR 59590 (Nov. 17, 1994) (“1994 Amendments Adopting Release”); Exchange Act Release No. 59062 (Dec. 5, 2008), 73 FR 76104 (Dec. 15, 2008) (“2008 Amendments Adopting Release”); Exchange Act Release No. 62184A (May 27, 2010), 75 FR 33100 (June 10, 2010) (“2010 Amendments Adopting Release”); and Exchange Act Release No. 83885 (Aug. 20, 2018), 83 FR 44700 (Aug. 31, 2018) (“2018 Amendments Adopting Release”).

    [16]         See 17 CFR 240.15c2-12(b)(5).

    [17]         See 17 CFR 240.15c2-12(b)(5)(C).

    [18]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599.

    [19]         Id.

    [20]         Id.

    [21]         Id.

    [22]         NABL raised several questions in its letters. See Letter from Robert L.D. Colby, Deputy Director, Division of Market Regulation, U.S. Securities and Exchange Commission, to John S. Overdorff, Chair, and Gerald J. Laporte, Vice-Chair, Securities Law and Disclosure Committee, National Association of Bond Lawyers, dated June 23, 1995 (‘‘NABL 1 Letter”), available at https://www.sec.gov/info/municipal/nabl-1-interpretive-letter-1995-06-23.pdf; and Letter from Catherine McGuire, Chief Counsel, Division of Market Regulation, U.S. Securities and Exchange Commission, to John S. Overdorff, Chair, Securities Law and Disclosure Committee, National Association of Bond Lawyers, dated Sept. 19, 1995 (“NABL 2 Letter”), available at https://www.sec.gov/info/municipal/nabl-2-interpretive-letter-1995-09-19.pdf. See also Letter from Michael Nicholas, Chief Executive Officer, Bond Dealers of America, Emily Swenson Brock, Director, Federal Liaison Center, Government Finance Officers Association, Kenneth R. Artin, President, National Association of Bond Lawyers, Cornelia Chebinou, Washington Director, National Association of State Auditors, Comptrollers and Treasures, Michael Decker, Managing Director, Securities Industry and Financial Markets Association, to Jessica Kane, Director, Office of Municipal Securities, U.S. Securities and Exchange Commission, dated Aug. 9, 2016 available at https://www.nabl.org/wp-content/uploads/2023/02/20160809-Joint-Letter-on-Amending-CDAs.pdf.

    [23]         See NABL 1 Letter, Question 2, supra note 22.  

    [24]         Id.

    [25]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599; Securities and Exchange Commission, Report on the Municipal Securities Market (July 31, 2012) (“Report on the Municipal Securities Market”), at 70, available at https://www.sec.gov/news/studies/2012/munireport073112.pdf.

    [26]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599 (Commission noting that “the amendments require that the undertaking specify only the general type of information to be supplied . . .”).

    [27]         Id.

    [28]         Id.

    [29]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599. But see NABL 1 Letter, Question 2, supra note 22, outlining scenarios where an undertaking that includes an amendment provisions nevertheless may satisfy the requirements of Rule 15c2-12.

    [30]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599.

    [31]         Id. at 59601.

    [32]         Id. (“remedies for breach of any undertaking under applicable state law are a subject for negotiation between the parties to the Offering.”).

    [33]         See Exchange Act Release No. 33741 (Mar. 9, 1994), 59 FR 12748, 12752-754 (Mar. 17, 1994) (“1994 Interpretive Release”).

    [34]         As seen during the Covid-19 Pandemic, variations in voluntary disclosures persisted and the differing approaches to disclosure served as a reminder that required disclosures are not confined to enumerated events. For instance, some issuers included tailored, stand-alone COVID-19-risk sections in their disclosures or uploaded financial informational statements to EMMA identifying impacts on economies and revenues, and expectations regarding associated risk mitigation. See, e.g., MSRB, Municipal Securities Market COVID-19-Related Disclosure Summary (updated Mar. 28, 2021), available at https://www.msrb.org/sites/default/files/2022-09/Municipal-Securities-Market-COVID-19-Related-Disclosure-Summary.pdf; DPC Data COVID Disclosure Trends Charted in New Infographic, A Year of COVID-Tagged Disclosures, Mar. 2020 to Mar. 2021, available at https://www.dpcdata.com/resources/year-covid-tagged-disclosures/. 

    [35]         See, e.g., Report on the Municipal Securities Market, supra note 25, at III.A.1 and III.B (summarizing market participant and investor interest in voluntary disclosure guidelines and best practices to improve the level and quality of disclosure in the primary and secondary markets); Chairman Jay Clayton and Rebecca Olsen, Director, Office of Municipal Securities, U.S. Securities and Exchange Commission, The Importance of Disclosure for our Municipal Markets (May 4, 2020) (the “Municipal Market COVID-19 Statement”), available at https://www.sec.gov/news/public-statement/statement-clayton-olsen-2020-05-04.

    [36]         See, e.g., Government Finance Officers Association (“GFOA”) Best Practices Voluntary Disclosure (Oct. 1, 2021) (“Best Practices on Voluntary Disclosure”), available at https://www.gfoa.org/materials/voluntary-disclosure (“Enhanced market communication achieved through voluntary disclosure the issuer to improve its investor relations. This enhanced communication and improved relations with investors can become an important factor for access to the capital for markets….”); National Federation of Municipal Analysts (“NFMA”) Position Paper on Voluntary Interim Disclosures by State and Local Governments (Oct. 26, 2004) (“NFMA Voluntary Interim Disclosures Paper”), at 2-4, available at https://www.nfma.org/assets/documents/nfma_position_interim_disclosure.pdf (NFMA “strongly believe(s) that it is in the best interest of state and local government units and political instrumentalities thereof to provide investors on a voluntary basis with timely disclosure reports derived from information maintained in the normal course of operations” and that “[t]o the extent that governmental issuers have relevant financial information on hand, the benefits of providing voluntary interim disclosure vastly outweigh any administrative burden entailed in disseminating this information to the market.”)

    [37]         See Best Practices on Voluntary Disclosure, supra note 36.

    [38]         See, e.g., id.; Report on the Municipal Securities Market, supra note 25, at 58 (noting that the “practices of market participants in voluntarily providing [large amounts of information about issuers of municipal securities] to investors are not, however, consistent,” further explaining that “[l]arge repeat issuers generally have more comprehensive disclosure than small, infrequent or conduit issuers, who may voluntarily provide little ongoing information to investors.”).

    [39]         In many cases, municipal issuers already prepare and disseminate reports or other documents containing financial information and/or operating data to various governmental or institutional bodies, or to the public. See, e.g., Application of Antifraud Provisions to Public Statements of Issuers and Obligated Persons of Municipal Securities in the Secondary Market: Staff Legal Bulletin No. 21 (OMS) (Feb. 7, 2020) (“Staff Legal Bulletin No. 21”), available at https://www.sec.gov/municipal/application-antifraud-provisions-staff-legal-bulletin-21; Report of Investigation in the Matter of the City of Harrisburg, Pa. Concerning the Potential Liability of Public Officials with Regard to Disclosure Obligations in the Secondary Market, Exchange Act Release No. 69516 (May 6, 2013), (“Harrisburg Report”), available at https://www.sec.gov/litigation/investreport/34-69516.htm.

    [40]         See Report on the Municipal Securities Market, supra note 25, at 106 n.640.

    MIL OSI USA News

  • MIL-OSI USA: High schoolers experience immersive college experience at GEAR UP summer academy – West Virginia Higher Education Policy Commission

    Source: US State of West Virginia

    Nearly 115 rising 10th and 11th grade students from across West Virginia spent four days living and learning on the campus of Marshall University as part of the 2025 GEAR UP summer academy.

    The academy, sponsored by the West Virginia Higher Education Policy Commission’s federally funded Gaining Early Awareness and Readiness for Undergraduate Programs (GEAR UP) initiative, provided students with a fully immersive college experience. Participants lived in campus residence halls, attended engaging academic sessions led by Marshall University professors, and took part in leadership development activities designed to strengthen their readiness for college and careers.

    “This program gives students a powerful glimpse into their potential future as college students,” said Mallory Carpenter, GUU! Director and Assistant Director of West Virginia GEAR UP at the West Virginia Higher Education Policy Commission. “By staying on a college campus, learning from college professors, and forming bonds with peers across the state, students begin to see themselves in that next chapter of their educational journey. It’s not just about preparing them for college—it’s about showing them they belong there.”

    Throughout the week, students explored academic subjects, participated in team building and career exploration sessions, and received valuable mentorship from current college students. These mentors shared their own college experiences and helped students envision pathways to success in higher education and beyond.

    Ricki Stewart, a GEAR UP alumnae, former counselor, and current Summer Academy supervisor, remarked on GEAR UP’s impact on her life and the lives of students currently enrolled in the program. “GEAR UP U! is something I look forward to every year. The students get to participate in innovative learning activities and make friendships that last a lifetime. Being a part of their experiences has been remarkable. This program is a way for all students to feel welcomed and inspired. It makes them feel that college and lifelong success are attainable.”

    West Virginia GEAR UP serves students in Boone, Clay, Lincoln, Logan, Mason, Mingo, Nicholas, Roane, Wayne, Webster, and Wirt counties, helping them plan and prepare for college through year-round services such as campus visits, financial aid workshops, tutoring, and mentoring.

    GEAR UP opens doors for teenagers in West Virginia and gives them hope for what they can achieve,” stated Braxton Nichols, a Roane County High School student and GEAR UP U! participant. “GEAR UP U! is such a good preparation for college and adult life. We learn teamwork, collaboration, and communication—all things you need to be successful after high school.”

    For more information about West Virginia GEAR UP and how it supports students and families, visit www.wvgearup.org.

    MIL OSI USA News

  • MIL-OSI: Industry giant SunnyMining redefines cloud mining: making crypto mining as easy as using an app

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 01, 2025 (GLOBE NEWSWIRE) — When it comes to “mining”, many people still think that they must buy mining machines, understand technology, and keep an eye on the market. But SunnyMining is subverting this traditional perception: “You can easily earn BTC and XRP every day without buying mining machines or understanding blockchain.”

    As a technology leader in the field of cloud mining, SunnyMining uses AI computing power scheduling, green energy data centers and global node deployment to make mining as convenient as using an app. From registration, contract selection to daily settlement, everyone can easily participate.

    Why is SunnyMining “simpler”?

    No equipment, easy to get started: Register to receive $15 free computing power and start mining mainstream currencies such as BTC, LTC, DOGE, etc.

    Automatic system operation: No manual intervention is required, the platform automatically adjusts the computing power according to market dynamics to maximize the efficiency of revenue.

    Multi-terminal support, mining at any time: Supports web, mobile browser and official App operations, whether you are in front of the computer, on the phone or on the road, mining can be easily carried out

    Daily settlement, transparent arrival: All revenue systems are settled daily, progress can be checked, and operations can be controlled.

    Multi-language support, serving the world: SunnyMining currently covers 195 countries, supports multi-language interfaces and 24-hour customer service response.

    A new era of mining: from tech game to mass portal

    SunnyMining believes that mining should not be a threshold, but a “digital income channel” that everyone can access – as natural as using daily applications.

    Relying on intelligent scheduling systems, fully managed cloud nodes and green energy infrastructure, the platform has covered 195 countries around the world, allowing users to start mining without equipment configuration or technical background. They only need to register to start mining, the system runs automatically, and the income is credited daily.

    Free contracts are not a “gimmick”, but a practical starting point

    In the field of mining, “free” is often questioned as a marketing trick, but the $15 registration computing power reward provided by SunnyMining is truly usable, visible, and profitable.

    After registration, users can try out mainstream currencies such as BTC, DOGE, and LTC without any investment, and daily income will be automatically settled in the account. The platform also provides a daily sign-in reward mechanism to continuously encourage novice experience.

    It’s actually very simple to start mining. It only takes three steps

    1. Open SunnyMining official website
    Go to sunnymining.com and register an account with your email.
    2. Receive $15 free computing power
    After registration, you can directly receive free mining rewards and choose BTC, DOGE, XRP and other currencies to start the experience.
    3. Wait for the income to arrive every day
    The system automatically mines and settles every day. You don’t need to do anything, and the income is directly sent to your account.

    Diversified contract options, free configuration of investment rhythm

    Novice experience contract: investment amount: $100, contract period: 2 days, daily income $4, total net profit: $100+$8.
    DOGE-Classic Contract Plan investment amount: $600, contract period: 7 days, daily income $7.8, total net profit: $600+$54.6
    DOGE-Classic Contract Plan: investment amount: $1,200, contract period: 10 days, daily income $16.08, total net profit: $1,300 + $160.8.
    BTC-Intermediate Contract Program: investment amount: $3000, contract period: 16 days, daily income $41.7, total net profit: $3000 + $667.2.
    BTC-Intermediate Contract Program: investment amount: $8000, contract period: 27 days, daily income $119.02, total net profit: $8000 +$3218.
    BTC-Advanced Contract Program: Investment amount: $12,000, contract period: 35 days, daily income $184.8, total net profit: $12,000 + $6468.
    BTC-Advanced Contract Program: Investment amount: $23,000, contract period: 42 days, daily income $365.7, total net profit $23,000 + $15359.4.

    Users can freely choose according to budget, cycle and preference. There is no need for complex configuration. The system will automatically execute and the income will be credited to the account daily.

    It is not just a platform, but also a digital economic distribution system

    SunnyMining’s intelligent system will automatically adjust mining strategies according to market and computing power changes, so that every computing power can bring the highest possible returns.
    McAfee® and Cloudflare® provide bank-level security protection to ensure the stability of user assets and full data encryption.
    What users see is an App-level experience with automatic settlement in the background and one-click operation in the front end. The complex on-chain calculation and security mechanism are encapsulated into a simple system of “light operation + daily income”.

    Sustainability is not only about environmental protection, but also about long-termism

    SunnyMining achieves low-energy and high-efficiency mining operations by deploying green energy infrastructure around the world, combining wind power, hydropower and AI computing power scheduling.
    Unlike traditional “high-energy consumption, high-profit” cyclical mining, SunnyMining is promoting the transformation to an intelligent, environmentally friendly and sustainable revenue model.

    Redefining “Who can mine”

    SunnyMining not only lowers the threshold for mining, but also completely reshapes the way to participate in mining. Through a smarter, greener and easier-to-use system, it is truly returning the right to obtain digital assets to every ordinary person.
    For more details, please visit SunnyMining official website: https://www.sunnymining.com/
    Download APP: https://sunnymining.com/download/

    Media Contact
    SunnyMining
    info@sunnymining.com

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    Attachment

    The MIL Network

  • MIL-OSI USA: Congressmembers Langworthy and Stefanik Introduce SAFER at the Border Act to Block Dangerous Migrants Exploiting Biden-era Loopholes

    Source: US Congressman Nick Langworthy (NY-23)

    WASHINGTON, D.C. – Congressmembers Nick Langworthy (NY-23) and Elise Stefanik (NY-21) introduced the Safeguarding Americans from Extreme Risk (SAFER) at the Border Act, legislation aimed at closing dangerous loopholes left wide open by the Biden administration and restoring strict vetting protocols to ensure extremists and criminals are kept out of the United States.

     

    “My constituents are fed up with the flood of murderers, terrorists, and dangerous individuals that poured into our communities across New York State—all because of the reckless, failed open-border policies of the Biden administration,” said Congressman Langworthy. “A nation without secure borders is a nation in decline, and it’s time we take bold, decisive action to reverse the chaos of the last four years.”

     

    He continued, “The SAFER at the Border Act answers the urgent call from Border Czar Tom Homan, who has sounded the alarm on the unprecedented number of illegal aliens who entered our country under the Biden administration from high-risk countries like Iran. This legislation is about protecting American families from threats that never should have made it onto our soil in the first place.”

     

    “The Worst Governor in America Kathy Hochul embraced and fully supported Joe Biden’s catastrophic open border policies. She has put all New Yorkers at risk by prioritizing illegals first and New Yorkers LAST with her sanctuary state policies,” Chairwoman Stefanik said. “Today, I am announcing I am co-leading the SAFER at the Border Act with Congressman Nick Langworthy to keep dangerous criminal illegals from terrorizing New York and our nation’s streets. The legislation closes loopholes that were exploited by Kathy Hochul’s failed policies and Joe Biden’s reckless abuse of immigration parole. Terrorists, transnational criminals, and dangerous foreign nationals invaded our sovereign nation under the corrupt and failed leadership of Kathy Hochul. We must put law-abiding New Yorkers first and secure our borders.”

     

    Specifically, the SAFER at The Border Act would:

     

    • Prohibit parole for high-risk aliens: The bill bars the Secretary of Homeland Security from granting immigration parole to individuals who pose national security or public safety risks—such as known terrorists, members of transnational criminal organizations, or those flagged in federal threat databases.
    • Closes loopholes for refugee parole: It prohibits parole of refugees into the United States outside of the established refugee admission process, preventing the administration from using broad parole authority to bypass standard vetting and security protocols.
    • Targets national security threats in immigration law: The bill ensures that individuals with ties to terrorism, espionage, or foreign criminal networks are flagged and blocked from entering the U.S., reinforcing existing inadmissibility standards with clear statutory guardrails.

     

    The full text of the legislation can be found here.

     

    Original cosponsors of this legislation include Reps. Michael Cloud (TX), Chuck Edwards (NC), Gabe Evans (CO), Chuck Fleischmann (TN), Michael Guest (MS), Nicole Malliotakis (NY), Andy Ogles (TN), Michael Rulli (OH), Mike Simpson (ID), Pete Stauber (NY), Elise Stefanik (NY), Scott DesJarlais (TN), and Claudia Tenney (NY).

     

    The SAFER at The Border Act is supported by the Immigration Accountability Project, Federation for American Immigration Reform (FAIR), and America First Policy Institute (AFPI).

     

    While the country is no longer facing the mass release of illegal aliens into the country under the guise of ‘humanitarian parole’, Congress must act to prevent this kind of abuse from happening again. In light of reports that the Biden Administration released suspected terrorists into the interior during the border crisis, Congress must change the law so that no known or suspected terrorists can ever be granted humanitarian parole. The SAFER at the Border Act prioritizes safeguarding American communities by prohibiting parole for individuals deemed dangerous, including those associated with espionage, sabotage, terrorism, or serious criminal activities. The Immigration Accountability Project applauds Senator Daines and Congressman Langworthy for this effort to help bring sanity and security back to the immigration system,”saidGrant Newman, Director of Government Relations, Immigration Accountability Project.

     

    “For the last four years, suspected terrorists were encountered at our borders in record numbers and special interest aliens flooded into the country, putting the interests of illegal aliens over protecting our national security. As a result of the Biden Administration’s catch-and-release policies and abuse of parole, dangerous aliens were more likely than ever before to slip through the cracks. Limiting the DHS Secretary from paroling aliens designated as terrorists, suspected terrorists, or special interest aliens is a commonsense step. FAIR is proud to support this crucial bill to help ensure the safety of American citizens and protect against the abuse of our immigration laws,”said Joe Chatham, Director of Government Relations, FAIR.

     

    “Border security is national security, and our open southern border has significantly increased our Nation’s vulnerability to terrorist attacks. An unprecedented number of terrorists, special interest aliens, and cartel members have exploited the Biden Administration’s failed border strategy and been released into American communities. We must reverse course from these disastrous policies, secure our border, and stop these national security and public safety threats from entering our Nation. The Safeguarding Americans from Extremist Risk (SAFER) at the Border Act empowers the Department of Homeland Security to protect American families,” said Chad Wolf, former acting Secretary of the Department of Homeland Security and Executive Director of the America First Policy Institute.

     

    Read the exclusive here.

      

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    MIL OSI USA News

  • MIL-OSI USA: Klobuchar Statement on Senate Passage of the Big Beautiful Betrayal

    US Senate News:

    Source: United States Senator for Minnesota Amy Klobuchar

    WASHINGTON –  U.S. Senator Amy Klobuchar (D-MN) released the following statement on the Senate’s passage of the Republicans’ Big Beautiful Betrayal:

    “Congressional Republicans betrayed the American people, passing a bill that will raise our debt by $4 trillion, kick millions people off their health care, close more than 300 rural hospitals and 500 nursing homes, and raise grocery prices for 40 million people — all to pay for tax cuts for the richest Americans.

    “This is a betrayal of the parents trying to put food on the table. It’s a betrayal of the seniors who rely on Medicaid and Medicare to pay for assisted living. It’s a betrayal of people who live in rural America. And it’s a betrayal of young Americans who will pay $1,000 more a year for mortgages because of higher interest rates — putting the American Dream even further out of reach.

    “What we should be doing is working together to bring down costs and make life easier for all Americans — not raising costs by putting the wealthy ahead of everyone else. I urge the House to reject this bill.”

    MIL OSI USA News

  • MIL-OSI Russia: Hong Kong has broad prospects and a promising future – Chinese Foreign Ministry

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, July 1 (Xinhua) — With the support of the motherland, the strong guarantee of the “one country, two systems” policy, the dedication of the Hong Kong Special Administrative Region (SAR) government and the concerted efforts of all walks of life, Hong Kong enjoys broad prospects and a promising future, Chinese Foreign Ministry spokesperson Mao Ning said on Tuesday.

    The diplomat made the statement at a regular briefing, noting that over the past five years since the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region was adopted and put into effect, the local legal system has been improved, the stability and cohesion of Hong Kong society has been strengthened, and the rights and freedoms enjoyed by the people of the Hong Kong Special Administrative Region in accordance with the law have been more fully protected.

    As Mao Ning pointed out, the groundless and malicious denigration of the “one country, two systems” policy by some Western politicians and anti-China organizations, as well as their slander regarding the implementation of the rule of law in Hong Kong, completely expose their malicious intent to undermine stability in the metropolis.

    The spokesperson emphasized that Hong Kong has achieved high-quality development based on its high level of security, with its gross regional product growing for nine consecutive quarters. Hong Kong has entered the top three international financial centers in the world and regained its place in the top three in the global competitiveness ranking.

    As the world’s third-largest recipient of foreign direct investment, Hong Kong has led the world in IPO funding since the start of this year, retained its top spot in air cargo volume, ranked fourth in the International Shipping Center Development Index, and is among the top 10 in talent competitiveness. As Mao Ning noted, increasing investment in the SAR has become a priority choice for many foreign chambers of commerce.

    The data shows that Hong Kong’s economy is highly resilient and viable, and that the city’s international attractiveness is only growing, she added.

    “Today marks the 28th anniversary of Hong Kong’s return to the bosom of the motherland. We believe that with the firm support of the motherland, the reliable guarantees of the ‘one country, two systems’ policy, the dedication of the HKSAR administration and the concerted efforts of all walks of life, Hong Kong will enjoy broad prospects and a promising future,” Mao Ning concluded. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Yuri Trutnev: Sakhalin Region will be presented as an energy and logistics center of the Asia-Pacific region on the “Far East Street” within the framework of the EEF

    Translation. Region: Russian Federal

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

    Sakhalin Region will traditionally be one of the participants in the Far East Street exhibition, which will be held from September 3 to 9 as part of the tenth, anniversary Eastern Economic Forum – 2025 in Vladivostok. The exhibition is organized by the Roscongress Foundation with the support of the Office of the Plenipotentiary Representative of the President of Russia in the Far Eastern Federal District. The only island region in the country will present information about its main investment and social projects, history and culture, and will also talk about the development of unmanned aviation.

    “Sakhalin Oblast is one of the leading regions in the Far East in terms of attracting investment. In the national investment climate rating, Sakhalin Oblast ranks first in the Far Eastern Federal District and fourth in the country. There is growth in the manufacturing industry, coal industry, and construction. Entrepreneurs can take advantage of the benefits of the priority development area, free port, and preferential regime on the Kuril Islands. The region is actively developing scientific and technologically. An international-level campus is being created on the instructions of the President. An engineering school and an electrical engineering laboratory are operating, the first stage of the Oil and Gas Industrial Park has been launched, and a research and production center for the development of unmanned systems has been created. This and much more allows us to create new production facilities, attract new personnel, and train young specialists. Thanks to the master plan, the urban environment of Yuzhno-Sakhalinsk is changing. I am sure that the region has something to show and be proud of,” emphasized Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev.

    The main pavilion of the Sakhalin Region on the “Far East Street” will be made in the form of waves. This year it will be decorated with installations on the theme of logistics: a hydrogen train, a UAV, an airplane and the port of Korsakov. Next to it there will be an investor’s pavilion in the form of a scallop shell.

    “The Eastern Economic Forum has long been an important platform for the Sakhalin Region to develop the region’s economy. Over the past five years, we have signed more than 60 agreements here, which will create 5.7 thousand jobs, and launch key projects in energy, transport, and education. Among them are the modernization of the electric grid complex, the development of hydrogen energy, the continuation of gasification of the region, the modernization of port infrastructure, the construction of clinics, and the development of science as part of the construction of the SakhalinTech campus. It is important for us that Sakhalin and the Kuril Islands become increasingly attractive for living, and that comfort for residents and visitors to the region grows. And we will consistently continue this work in the future,” said Sakhalin Region Governor Valery Limarenko.

    An installation dedicated to the 80th anniversary of Victory in the Great Patriotic War will be placed inside the pavilion. The exhibition “Roads of Victory” will tell about the Yuzhno-Sakhalinsk operation and the landing on Shumshu. It is planned to show a film about the expedition to the island, videos about reconstructions of battles in the Kholmsky and Smirnykhovsky districts.

    “On the instructions of the President of the Russian Federation Vladimir Vladimirovich Putin, we are creating a memorial complex on Shumshu Island dedicated to the Kuril landing operation. Shumshu is one of the islands of the Kuril chain. In fact, World War II ended there. The Kwantung Army was defeated. Our soldiers defeated the superior forces of the enemy, demonstrated mass heroism, landed in the water with full equipment and attacked tanks and firing points that were on the heights. This is one of the most significant pages in our history,” concluded Yuri Trutnev.

    In the Tourism zone, new programs will be presented: military-historical tours “Battle for Shumshu” and “Liberation of the South of Sakhalin”, seasonal offers for winter and summer recreation, as well as gastronomic tours and the “Far East – Land of Adventure” project.

    The Sakhalin – Showcase of Russia zone will showcase key projects of the master plan for the first belt of the agglomeration, as well as the main areas of development of the region: medicine, science and education, logistics, culture, and the urban environment.

    The results of the decade of work of the Sakhalin Region Development Corporation will be presented in a separate zone. With the help of multimedia technologies, the exposition will present the results of the organization’s work over 10 years, including the initiatives of the Merci Agro Sakhalin livestock complex, the Gorizont residential complex, the Uyun territory development project, the agropark and the oil service park.

    The UAV and BEK zone will tell about how the island region strives to become a leader in Russia in the implementation of unmanned aircraft systems. This topic will be dedicated to a separate exposition aimed at promoting Sakhalin’s achievements in this area.

    In 2025, Sakhalin Oblast plans to hold three international forums – Wings of Sakhalin, Energy of Sakhalin and Islands of Sustainable Development: Climate Aspect – at a new venue – the Pushisty drone port. The Sakhalin Expo exposition will be dedicated to the development of congress and exhibition activities in the region.

    Next to the main pavilion there will be a stand “Made in Sakhalin”. The exposition will present regional brands – clothes, jewelry, souvenirs, gastronomic products, health products, and achievements of the film industry and computer graphics will also be demonstrated. The pavilion’s design will include works by Sakhalin photographers and musicians, as well as various murals, including an image of the Aniva lighthouse – the unofficial symbol of the region.

    The art object “Happy Motherhood” will also be exhibited, symbolizing family values. 2025 has been declared the Year of Happy Motherhood on the islands. The regional government’s social block is paying special attention to solving the demographic issue and creating conditions under which women can successfully combine motherhood with professional activity, without sacrificing either their career or family.

    This year, the cultural program of the Sakhalin Region is aimed at popularizing the work of local authors and musicians. Songs by Sakhalin composer and poet Georgy Zobov will be presented, performed by artists of the Variety Academy, accompanied by the dance studio “Aritmiya” and the group Dreambox. The duet “Vishnya” will present a combination of electronic music, songs and ethnic music. The ensemble of the Variety Academy of Larisa Dolina will perform cover versions of famous hits of the Russian variety art. Stilt walkers of the theater studio 2233 will also perform for the guests.

    In addition, the regional delegation will present a series of unique performances called “Sea Meditation”. For three days, Sakhalin artist Konstantin Kolupaev will create paintings dedicated to the beauty and power of nature on a huge canvas using unique techniques. Spectators will be able to watch the master at work.

    As part of the sports program, Sakhalin Oblast plans to organize an interactive platform using VR glasses, where you can try alpine skiing, ski jumping or parachuting. There will be a chess platform called “Beat the Champion.”

    The 10th Eastern Economic Forum will be held on September 3–6 at the campus of the Far Eastern Federal University in Vladivostok. During these days, the exhibition will be available to forum participants, and on September 7, 8, and 9, it will be open to everyone. The EEF is organized by the Roscongress Foundation.

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

    MIL OSI Russia News

  • MIL-OSI USA: Sherrill Statement Condemning the Senate Passage of the Republican Price Hike Bill

    Source: United States House of Representatives – Congresswoman Mikie Sherrill (NJ-11)

    WASHINGTON, DC —  Rep. Mikie Sherrill (NJ-11) issued the following statement:

    “Today, Senate Republicans passed the largest attack on working people our country has ever seen. They are cutting Medicaid and SNAP and driving up energy and housing costs so they can give tax breaks to Donald Trump’s billionaire donors. This fiscally irresponsible — and morally bankrupt — bill will add $3.3 trillion to the deficit while kicking 16 million people off their health insurance and stripping food assistance for millions of Americans. 

    “This bill is a direct attack on working and middle-class New Jerseyans. More than 400,000 New Jerseyans will lose their health insurance, and hundreds of thousands more will see increases in their healthcare costs. Instead of letting the SALT cap expire for good, Washington Republicans have reinstated this double tax on the Garden State. Thanks to Republican leadership, New Jersey households will see another $100 increase in their utility bills starting next year as energy costs are already skyrocketing.  With the high cost of groceries, families have to figure out how they will afford to put food on the table as this bill guts food assistance programs. And with cuts to Pell Grants and mortgage rate hikes, Republicans are putting the opportunity of a college education and homeownership out of reach for working people. 

    “We heard some Washington Republicans acknowledge how this bill will harm families across the country. Yet, despite their full understanding of the devastation this bill will cause, all but three remained loyal foot soldiers to the President.

    “I urge my House colleagues to show an ounce of courage and live up to their oath to serve the American people, instead of serving Donald Trump.”  

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    MIL OSI USA News

  • MIL-OSI USA: Rep. Ayanna Pressley’s Statement on Senate Passage of Big, Ugly Bill

    Source: United States House of Representatives – Congresswoman Ayanna Pressley (MA-07)

    Cruel Legislation Now Heads Back to House of Representatives

    WASHINGTON – Today, Congresswoman Ayanna Pressley (MA-07) issued the following statement on the Senate’s passage of Republicans’ cruel reconciliation bill, which would gut Medicaid and SNAP, and rip healthcare and food assistance away from millions of people, including in Massachusetts. In May, Rep. Pressley delivered an impassioned speech on the House floor in which she made a direct appeal to her Republican colleagues to oppose this cruel and harmful bill.

    “This is a somber moment. This legislation is deeply harmful and every Senator that voted for it should be ashamed of themselves. I implore my House colleagues to reject this unpopular bill and listen to the cries of people across this country who stand to be harmed,” said Congresswoman Pressley. “Trump and Republicans are trying to ram through this bill aligned with their dystopian vision for this country where billionaires get money they don’t need, while millions of people are poorer, sicker, hungrier, and lack access to critical reproductive healthcare. This Big, Ugly Bill is not an inevitability, and we’ll keep fighting with every tool we have to stop it in its tracks.”

    Congresswoman Pressley has been an outspoken critic of this harmful legislation since its inception.

    • Ahead of the third anniversary if the Dobbs decision, Rep. Pressley and her colleagues stood in solidarity with Planned Parenthood and condemned the proposed cuts to reproductive healthcare under Republicans’ Big, Ugly Bill.
    • Rep. Pressley and author Darrick Hamilton authored a Washington Post op-ed in which they discussed the regressive, ineffective “Trump Accounts” provision of Republicans’ reconciliation bill and urged Congress to instead embrace Baby Bonds to advance economic justice.
    • Rep. Pressley rallied with advocates from Caring Across Generations, Care Can’t Wait, and partner organizations to protest Trump’s and Republicans’ Big Ugly Bill that proposes disastrous cuts to Medicaid, SNAP, and other essential programs and would leave communities sicker, poorer, and more vulnerable.
    • Ahead of the House’s vote on the bill, Rep. Pressley delivered an impassioned speech on the House floor in which she made a direct appeal to her Republican colleagues to oppose this cruel and harmful bill.
    • Rep. Pressley delivered a floor speech in which she slammed the bill’s proposed Medicaid cuts, which would decimate reproductive healthcare in America and worsen maternal health outcomes.
    • Rep. Pressley co-hosted a press conference with Color of Change to oppose the Republicans’ cruel and harmful budget reconciliation package, which would gut critical programs like Medicaid and SNAP.
    • Rep. Pressley rallied with caregivers, advocates, and fellow lawmakers at a 24-hour vigil to protect Medicaid from Republicans’ cruel budget cuts that would devastate communities across this country.
    • In the House Oversight Committee’s markup of the Republican reconciliation bill, Rep. Pressley demanded Republicans answer to the families who would go hungry by way of this reconciliation bill – and she was met with silence.
    • In the House Financial Services Committee’s markup of the Republican reconciliation bill, Rep. Pressley condemned the bill’s proposed cuts to Medicaid and shared the story of Mary Marinelli, a 70-year-old hospice nurse from a Republican district in Michigan whose family depends on Medicaid to care for their autistic son.
    • In an impassioned speech on the House floor, Rep. Pressley slammed Republicans’ cruel and callous budget resolution that would slash Medicaid and other critical government services to pay for trillions of dollars in tax giveaways for Donald Trump’s billionaire donors.

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    MIL OSI USA News

  • MIL-OSI USA: Rep. Jimmy Gomez SLAMS senate Passage of Republican Tax Bill

    Source: United States House of Representatives – Congressman Jimmy Gomez (CA-34)

    WASHINGTON, DC – Representative Jimmy Gomez (CA-34) released the following statement after Senate Republicans passed their tax bill: 

    “I’ve opposed this Big Billionaire Bill since its introduction, and I will vote against it again because it steals from the working class and poor to hand huge tax breaks to the billionaire establishment that’s taken root in Washington since they sat front row at Trump’s inauguration.  

    “Senate Republicans didn’t just fold to Donald Trump; they colluded to make the bill even worse for working families, while many cut sweetheart deals to spare their own constituents. With the new Senate changes, 17 million people — real people, not just numbers — will lose their healthcare coverage, and left in place are massive cuts to crucial programs such as Medicaid, SNAP, green energy, and environmental protections. And let’s be clear, adding $4 trillion to the deficit while pretending to be the party of “fiscal responsibility” is about as hypocritical as it gets. 

    “House Democrats won’t be silent, and we won’t back down. We will fight this bill with every tool we’ve got — in the Rules committee, on the floor, and in the months to come. We’ll make sure every American knows exactly who sold them out and who stood up. This bill is a betrayal of working families, and we won’t let them forget it because we sure as hell won’t.” 

    MIL OSI USA News

  • MIL-OSI USA: NEA reacts to Senate’s passage of Trump administration’s budget bill

    Source: US National Education Union

    By: Celeste Fernandez, NEA Communications

    Published: July 1, 2025

    WASHINGTON—Today, the U.S. Senate passed the Trump administration’s budget bill, advancing a plan that slashes funding for education, health care, and nutrition—harming students, working families, seniors, veterans, people with disabilities, and more.

    The following can be attributed to NEA President Becky Pringle: 

    “Let’s be clear: this is a betrayal of students, educators, and working families. This isn’t just a political failure, but a moral one as well. The senators who voted for this bill are turning their backs on those who need their support the most. This bill will devastate our schools and communities—all to finance massive tax breaks for the ultra-wealthy.

    “This bill strips essential funding from our schools, further restricts access to higher education, burdens those already struggling, and threatens to leave children sick, students hungry, and futures shattered—all to finance tax breaks for billionaires. When they redirect public dollars to fund private school vouchers, they weaken public education and limit opportunities for students. They siphon crucial funding from public schools—serving 90 percent of students—and redirect it to private institutions with no accountability. Access to affordable, quality higher education will slip further out of reach for countless students.

    “This legislation abandons students, pushes aspiring educators out of the profession, and deprives working families of the basic supports they need to survive. Educators see the harm this bill will cause—and we will not be silent. We will hold accountable any politician who abandons our students and communities. We will organize, we will fight back, and we will not stop until every student, in every ZIP code, has access to the opportunities they deserve.” 

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    Follow us on Bluesky at https://bsky.app/profile/neapresident.bsky.social & https://bsky.app/profile/neatoday.bsky.social

    The National Education Association is the nation’s largest professional employee organization, representing more than 3 million elementary and secondary teachers, higher education faculty, education support professionals, school administrators, retired educators, students preparing to become teachers, healthcare workers, and public employees. Learn more at www.nea.org. 

    MIL OSI USA News

  • MIL-OSI USA: NEA reacts to Senate’s passage of Trump administration’s budget bill

    Source: US National Education Union

    By: Celeste Fernandez, NEA Communications

    Published: July 1, 2025

    WASHINGTON—Today, the U.S. Senate passed the Trump administration’s budget bill, advancing a plan that slashes funding for education, health care, and nutrition—harming students, working families, seniors, veterans, people with disabilities, and more.

    The following can be attributed to NEA President Becky Pringle: 

    “Let’s be clear: this is a betrayal of students, educators, and working families. This isn’t just a political failure, but a moral one as well. The senators who voted for this bill are turning their backs on those who need their support the most. This bill will devastate our schools and communities—all to finance massive tax breaks for the ultra-wealthy.

    “This bill strips essential funding from our schools, further restricts access to higher education, burdens those already struggling, and threatens to leave children sick, students hungry, and futures shattered—all to finance tax breaks for billionaires. When they redirect public dollars to fund private school vouchers, they weaken public education and limit opportunities for students. They siphon crucial funding from public schools—serving 90 percent of students—and redirect it to private institutions with no accountability. Access to affordable, quality higher education will slip further out of reach for countless students.

    “This legislation abandons students, pushes aspiring educators out of the profession, and deprives working families of the basic supports they need to survive. Educators see the harm this bill will cause—and we will not be silent. We will hold accountable any politician who abandons our students and communities. We will organize, we will fight back, and we will not stop until every student, in every ZIP code, has access to the opportunities they deserve.” 

    ###

    Follow us on Bluesky at https://bsky.app/profile/neapresident.bsky.social & https://bsky.app/profile/neatoday.bsky.social

    The National Education Association is the nation’s largest professional employee organization, representing more than 3 million elementary and secondary teachers, higher education faculty, education support professionals, school administrators, retired educators, students preparing to become teachers, healthcare workers, and public employees. Learn more at www.nea.org. 

    MIL OSI USA News

  • MIL-OSI USA: SBA Relief Still Available to Texas Small Businesses, Nonprofits and Residents Affected by May Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses, nonprofits, and residents in Texas of the Aug. 1 deadline to apply for low interest federal disaster loans to offset physical damage caused by the severe storm and straight-line winds beginning May 8.

    The disaster declaration covers the Texas counties of Brooks, Duval, Jim Wells, Kleberg, Live Oak, Nueces and San Patricio.

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

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

    Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

    “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”

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

    Interest rates can be as low as 4% for small businesses, 3.62% for PNPs, and 2.81% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

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

    The deadline to return physical damage applications is Aug. 1.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI Security: U.S. Marshals in Florida Arrest Iowa County Sex Abuse Suspect

    Source: US Marshals Service

    Cedar Rapids, IA – U.S. Marshals in Florida today arrested a man wanted on several sex abuse charges in Iowa. 

    Tyler Michael Treadaway, 27, is wanted in Iowa County in connection to multiple charges of sexual abuse (second-degree) of multiple children. 

    On April 21 investigators with the Iowa County Sheriff’s Office contacted the Northern Iowa Fugitive Task Force requesting assistance in the location and apprehension of Treadaway. Task force officers began to follow up on leads throughout the Midwest and developed information indicating Treadaway had fled following the reports of abuse. Officials began coordinating with the U.S. Marshals Florida/Caribbean Regional Fugitive Task Force (FCRFTF). 

    Officers with the FCRFTF today narrowed their search to an area in the 4900 block of Lofty Pines Circle West in Jacksonville.  U.S. Marshals approached the suspect shortly after noon and Treadaway eventually surrendered to the officers.  Treadaway was arrested without incident and transported for processing.  He will remain in custody until extradition to Iowa.

    The U.S. Marshals Service is the federal government’s primary agency for fugitive investigations. Nationwide, 60 local task forces are dedicated to violent crime reduction by locating and apprehending wanted criminals. These task forces also serve as the central point for agencies to share information on fugitive matters. The Northern Iowa Fugitive Task Force is comprised of officers from the U.S. Marshals Service, U.S. Immigration and Customs Enforcement, Cedar Rapids Police Department, Waterloo Police Department, Marion Police Department, the Iowa Division of Criminal Investigation, and the Iowa Department of Corrections. 

    MIL Security OSI

  • MIL-OSI Security: Minnesota Sex Offender Sentenced to Over a Year in Prison for Failing to Register

    Source: US FBI

    BILLINGS – A Minnesota man who failed to register as a sex offender was sentenced today to 16 months in prison to be followed by 5 years of supervised release, U.S. Attorney Kurt Alme said.

    Jeremiah Robert Wiberg, 42, pleaded guilty in March 2025 to one count of failure to register as a sex offender.

    U.S. District Judge Susan P. Watters presided.

    The government alleged in court documents that Jeremiah Wiberg is required to register as a sexual offender under SORNA following a 2007 federal conviction for receipt of child pornography. Wiberg has been on federal supervised release for the past eight years and has been revoked off supervised release multiple times.

    Following his sentence of incarceration after being revoked from supervision, Wiberg was released from the BOP in Louisiana on November 8, 2023. Per his travel itinerary with BOP he traveled to Billings, Montana the same day. Wiberg arrived in Billings that day, but he did not check in with United States Probation on that day, nor did he register under SORNA upon his arrival in Billings. His whereabouts were unknown.

    It was determined through records and witness statements that Wiberg was in Montana for a period of a few weeks after he arrived in Billings. Wiberg traveled to Roundup and then left the state. He never registered in Montana.

    On December 27, 2023, law enforcement received information that the Wiberg was staying in Minnesota. Wiberg was subsequently located at a VFW in Forrest Lake, Minnesota. He was arrested on a federal warrant for violating his supervised release. Wiberg had not registered in Minnesota.

    The U.S. Attorney’s Office prosecuted the case. The investigation was conducted by the FBI, U.S. Marshals Service, U.S. Probation Office, Yellowstone County Sheriff’s Office and Montana Division of Criminal Investigation.

    XXX

    MIL Security OSI

  • MIL-OSI: Banco Santander Chile welcomes Andrés Trautmann Buc as the Bank’s New CEO and Country Head

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, July 01, 2025 (GLOBE NEWSWIRE) — (NYSE: BSAC; SSE: Bsantander). Andrés Trautmann Buc was officially welcomed as the new CEO and Country Head of Banco Santander Chile (“Santander Chile” or the “Company”), an appointment previously announced last February, in the presence of Héctor Grisi, CEO of Banco Santander. Trautmann thus replaces Román Blanco, who is leaving the Chilean subsidiary after a successful tenure with the bank.

    At the meeting, which was attended via streaming by all employees across the country, Grisi thanked Román Blanco for his work over the years, highlighting the strong position of the Chilean subsidiary in terms of results and market share. “The Group is proud to have a bank like Santander Chile: number one in loans, with practically one in three SMEs in the country as a client, and an ROE of 25.9% in a highly competitive environment. We must be Best in Class in each of the markets in which we operate, and to achieve this, it is essential to combine our local presence with the strength of our global scale. That is our greatest strength; we have exceptional teams and a solid culture. Developing it to its full potential is the great challenge we face.” Thus, the executive addressed the bank’s employees, asking them to “give Andrés the same support they gave Román, because having a team that supports him is essential.”

    For his part, Trautmann stated, “I am deeply proud to represent Santander Chile in this new position, a leading bank in the local industry that has made significant contributions to the Group’s global objectives. I know I have a first-class team with whom we will continue to dedicate ourselves strongly to supporting the progress of people and companies with innovative products and services that make their daily lives easier and boost the development of their businesses.”

    In his first appearance as CEO and country head, Trautmann emphasized that “Santander is present in key markets in Europe and the Americas. One of our key goals is precisely to leverage this global capacity and, through our experience and market knowledge, contribute to the growth of Chilean companies that are the driving force of our economy. We also want our more than 4.3 million customers to have a similar service experience in the different geographical areas where the Group operates, so that they feel part of an international entity. This is what they can experience today through the Work/Café branch network deployed in more than nine countries.”

    For his part, Román Blanco stated that “over these three years, we have made great progress in a context where digital banking is advancing rapidly. In this context, we strengthened the growth of Getnet, also adding new features, and Santander Consumer Finance, in addition to the launch of digital accounts and new ways of serving our customers, such as the Work/Café Expresso model.” The executive concluded by thanking “everyone who has been part of this journey over these three years and who has made it possible to accomplish all these achievements. Chile is a country of multiple opportunities and great growth potential. I am convinced that Santander is in the best hands, because through Andrés’s leadership, his business vision, and his ability to work as a team, they will be able to face the new challenges of this industry and achieve the goals we have set for ourselves.”

    Local Perspective with International Experience
    Trautmann, who holds a degree in Business Administration from the University of Chile, has a distinguished career at Santander, having joined the Group in 2007. He began his career as Head of Institutional and Corporate Sales at Santander Chile, then, between 2010 and 2012, he was in charge of Structured Products Sales in London for Santander UK. From 2013 to 2018, he was responsible for Andean Region Sales for Goldman Sachs in New York. That year, he assumed the position of Head of Markets for Santander’s local subsidiary until 2021, when he was appointed Executive Vice President of CIB at Santander Chile, a global division that supports corporate and institutional clients with high-value-added services, products, and solutions.

    From his initial position at Markets, he has led significant achievements such as tripling the growth of the Sales and Trading business and then, from CIB, the Investment Banking area, also driving the expansion of CIB products in large companies, leveraging the global capabilities of the Santander Group. Recently, the executive has also added the Corporate and Institutional Banking and Santander Consumer Finance businesses to his responsibilities, which has given him a comprehensive view of the bank’s management.

    As of March 31, 2025, the bank had total assets of Ch$67,059,423 million (US$70,284 million), total gross loans (including those owed by banks) at amortized cost of Ch$41,098,666 million (US$43,075 million), total deposits of Ch$30,607,715 million (US$32,080 million), and bank owners’ equity of Ch$4,400,233 million (US$4,612 million). The BIS capital ratio was 16.9%, with a core capital ratio of 10.7%. As of March 31, 2025, Santander Chile employed 8,712 people and had 237 branches throughout Chile. Banco Santander Chile is one of the companies with the highest risk ratings in Latin America, with an A2 rating from Moody’s, A- from Standard & Poor’s, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report.

    CONTACT INFORMATION
    Investor Relations
    Banco Santander Chile
    Bandera 140, Floor 20
    Santiago, Chile
    (562) 26483583

    Email: irelations@santander.cl
    Website: www.santander.cl

    The MIL Network

  • MIL-OSI Economics: Podcast: Microsoft EVP Rajesh Jha on leading with courage in the AI era

    Source: Microsoft

    Headline: Podcast: Microsoft EVP Rajesh Jha on leading with courage in the AI era

    MOLLY WOOD: That was Rajesh Jha, Microsoft’s Executive Vice President for Experiences and Devices. As a key figure at the helm of Microsoft’s product innovation, he leads a team of tens of thousands of people around the world who have worked to integrate AI into Windows and tools like Microsoft 365, Teams, and more. He’s also a key member of the company’s senior leadership team, which works directly for Microsoft Chairman and CEO Satya Nadella. In this episode, Jha shares his perspective on navigating the complexities of how AI is changing the way we work, and he offers actionable advice on how leaders have to adapt, compete, and bring their people along with them. And now my conversation with Rajesh. Rajesh, thank you so much for being on WorkLab today.  

    RAJESH JHA: Thank you, Molly, for hosting me. It’s a real pleasure to be here with you.  

    MOLLY WOOD: You have more than 30,000 employees, and you run a $100 billion business, which is more than most CEOs do. What are just some of the many lessons I’m sure you have learned from running such a huge organization? 

    RAJESH JHA: It’s been a real privilege to be at Microsoft through so many of the growth years. When I reflect back on my career, there are a few things that are enduring. The mission matters because through the ups and downs, if you have a sense of purpose, you have a North Star, that really does matter. And Microsoft has been really great to always be grounded in our customer successes, our success—this theme of empowerment, from Bill into Steve into Satya. So that was definitely number one. The second thing that I would say is, it seems very trite, but it has really worked for me specifically and my team, is, whenever we are looking at a hard strategic call, we start from, how would the customer react to the decision that we’re making, that has been incredibly grounding, so that’s been enduring. Of course, the team matters, the culture matters, because that’s where the work gets done. And then finally, managing a large business is about, literally, about figuring out how to make elephants dance, because you have a large-scale business, customers expect us to have a certain level of quality and continuity and predictability. At the same time, they take a bet on us to innovate. And so how do you stay nimble and innovate while also being predictable and trustworthy for customers? That is a hard thing to go do, but absolutely essential. It’s an and, it just can’t be an or.  

    MOLLY WOOD: Well, and Microsoft is an elephant that has danced, quite nimbly, for the last 50 years— 

    RAJESH JHA: Sometime clumsily, sometimes nimbly, yes. [laughter]  

    MOLLY WOOD: We’ll focus on the nimble—or not, right, based on your experience in bringing new technologies to market and helping to effectuate some pretty major technological innovations. What insights do you have for leaders who are now navigating this AI transformation?  

    RAJESH JHA: I mean, now is the time for leaders to really consider how their businesses, how their teams, how their skill set—how does that evolve in a world where we are looking at, you know, something at the peer of electricity coming into society, or the internet coming into society. And so it’s time to lean forward, and lean forward in a way that makes sense for their businesses or their business process. It is such a big change that it’s going to probably take a decade to play out, but there is no avoiding the sea change that’s underway now. So some bravery, but bravery on customers’ terms. 

    MOLLY WOOD: Yeah. I’m thinking of leaders who may be wary, who may need a dose of that courage. You’ve spoken about being asked by Steve Ballmer to bring Office to cloud, as one example of a transformation that maybe you were a little wary about. Can you walk us through that experience and how it might give a shot of courage for folks today. 

    RAJESH JHA: This was, you know, back maybe 15 years ago, Microsoft was incredibly profitable and the cloud was a question mark for many at Microsoft. A) would this technology be mature enough? B) is the business model, because the margins were going to be lower on the cloud than our old business model of being on premises. Number three, would we be able to transform fast enough? Because Microsoft had grown up being a server company, a client company, and would we be able to transcend that to be about cloud and mobile. And they were all very important questions. And there was a lot of, you know, let’s hold back. Let’s see if this trend is really real or not. And Steve showed incredible courage by going all in. What Steve did was he gave license to people to go and learn, even if we were not perfect on day one. And so the big lesson for me in how Steve started that journey was, leaders, if you have hesitation, whether it’s a business model hesitation or cultural hesitation, skill hesitation, it’s very hard for the teams to rally behind something where the leader themselves are half-hearted. So that was a very big moment for us, because he was unambiguous about, hey, this is the way that software is going to be delivered in the future. This is the way we can democratize the value we bring to customers. And there were a lot of benefits, and we are just going to go all in.  

    MOLLY WOOD: So leaders have to go all in. But I would imagine it’s not a—progress is not always a straight line. 

    RAJESH JHA: No, it wasn’t. And even with us in the cloud, it wasn’t. But the main thing is, leaders have to lead. And when you’re taking a look, the hard things are process, business model change, culture change, skill change. They’re all incredibly hard, and that’s why there has to be a commitment from the top that we are going to see this through. And then we were eyes wide open as what our deficiencies were. And so we didn’t have the right skill set. We trained people, we brought in new people, we embraced the red—all the things that we were not doing well in this new transformation. We were very open, very honest. It just takes leadership to set the tone here and to set the things in motion. 

    MOLLY WOOD: Right, and to your point, persistence and belief that it is the right direction so that you stay on that road even when it gets hard.  

    RAJESH JHA: That is correct, Molly, absolutely. And then one additional point I would make with persistence and belief is, it’s one thing to say it, it’s another thing to allocate resources to that belief. We have a quote, which is, if you really want to see the strategy of an organization, you’ve got to see where they’re allocating resources.  

    MOLLY WOOD: On the one hand, it sounds like you’re saying, get comfortable with chaos—  

    RAJESH JHA: Controlled chaos, Molly. Controlled chaos.   

    MOLLY WOOD: Then of course there’s the question of how not to break things. You know, security becomes a big concern with incorporating AI, doing it in a way that doesn’t introduce more problems. What is your advice for having proper guardrails in place as you transform in the AI age?  

    RAJESH JHA: So, I’m gonna answer that in two parts. Part one is, what do I mean by controlled chaos? So Satya invited Scott Guthrie, myself, Charlie [Bell] as the three big product leaders at Microsoft to go over to Bill’s house to see GPT-4, and Satya’s exact comment to me at that time was, I’ve gotta get you guys to be believers. And he had already seen it. And so he and Kevin Scott, they were already on board about the capabilities. So anyway, we go over to Bill’s house, it was in the kitchen area, where the OpenAI folks had put in a demo and they had a grader who grades AP biology there. The thing that really got me was it was not just the multiple choice questions that the model was doing a great job of, it was doing a great job on the written answers. There was some of the AP biology stuff, I’ve studied some biology, but they were far above my ability to understand. And so I look at all of that, I’m completely blown away. But then, for me, the big moment was when Bill asked the question, what would you say to the parent of a sick child, and the empathy or the humanity, almost, that it was able to convey in the answer was like, I would’ve felt proud to have written such a thoughtful note. And I was like, god, this is really, I mean, we are leaving behind the low-altitude handshake between computing and humanity. We are taking a look at something that can be almost at the pure level. And so now, fast-forward, it’s not that long, two years, and we are at the point where we are talking about agents and digital labor and people working together. 

    MOLLY WOOD: But that was it, that worked. You became believers. 

    RAJESH JHA: For me, that was it. I lead a large organization, and I see lots of cool stuff all the time, and part of my job is to make sure the trains keep running on time, but make sure I’m open-minded about big things. And when big things show up, I try to scope it and manage it. I have never in my 30 years ever gone to my team and said, drop all your plans. And for me, that was it. None of the existing plans matter anymore. I huddled all my senior leaders, and I said, Folks, I want you all to run a hundred miles an hour. It’s going to be very uncomfortable, because we’re going to unleash some amount of chaos, but let’s make sure we harden our processes that this chaos does not make its way to customers. So what I mean by controlled chaos is, if you’re unleashing a lot of activity all at once, you need to have the mitigating controls and the guardrails to make sure the chaos is controlled and managed. And so we huddled together to make sure our processes were hardened. So that’s one of the things with controlled chaos. But one of the guardrails that is not negotiable is security, as you correctly pointed out. So in our implementation of AI, we started very much from the mindset of, how does the AI inherit all the existing security and governance controls that an organization already has? It’s one thing to come and tell them, hey, rethink all your business process, rethink your scaling, rethink how work is done, and rethink your security and governance. It’s just not doable. And so we architected this from the ground up, that, for example, when you use Microsoft Copilot, it is using your permissions, so it only has access to what you have access to. It can never do any more than what you might do as a human. And then we also made sure that it was the mindset of a copilot, not an autopilot, and so the humans were always in control. So this way, whatever governance, data classification, permissions, you know, conditional access, retention policies—whatever a customer had, and how they managed human-to-human conversations, all of that accreted to human-to-AI conversation. That was a very hard guardrail we knew we just could not compromise.  

    MOLLY WOOD: But I want to go back to the example that you just gave, this moment of having this experience and realizing how— 

    RAJESH JHA: Profound. 

    MOLLY WOOD: Profound—exactly—and sophisticated these models were, because those are the kind of moments that give you the faith to go all in. 

    Rajesh Jha: Just to go back to that moment, Molly, I mean, to think as an engineer, as somebody who’s been in the tech industry a long time, who’s been through so many of the transformations, the big takeaway for me was, you know, for the first time computing, so far, human and machine interaction has been very much—machines are very low level. You know, we interact with pixels, we click on things, we read stuff. When I come in to work, I don’t come in to work thinking, oh, I should do 16 minutes of email and then read four documents and then, you know, open that spreadsheet, take a look at that budget. I come in thinking, I’ve got to work on budget today. So I think at a high level of intent, but then my intent to decompose is, either on my device, on a bunch of icons I’m swiping through, flipping from application to application, or going really low level—reading emails and then clicking a link. And so high-level intent gets reduced to low-level clerical work, almost. So when I saw this demo, I was like, Wow, the interaction is going to change. It is not going to be intent and then reduced to low-level stuff. AI is going to have the capability to have a human-to-human-like conversation. So intent, high-level intent to high-level intent, and that was what was the big takeaway for me. This is the computing for the last 35 years. One thing that hadn’t changed was a fundamental interaction pattern between people and their devices, and that was going to change, because now you could express, hey, I want to write a document that has the following three ideas, take a look at the relevant stuff in my enterprise and on the web—and can you compose a report for me? That is the kind of thing that I would tell another human being if there was a new hire in my team and, you know, I was thinking about a project to give them. This is the kind of way I might express the project to them, and then they will go in and do the work, check in with me, and we go back and forth. Now that was going to be possible.  

    MOLLY WOOD: Let’s keep talking about that idea of leveling up. We now live in a world where I may get an email from your account and I may not know if it was written by you or an AI, and that may not matter.  

    RAJESH JHA: You know, in some ways, it’s not that different from what happens for some of us. Let’s say I was to send a large piece of email to my team. I would actually work with my staff and my leadership team to get the latest status on a few things, and then I would put it in my words, and I would send it out. Now, everybody has that ability, because what the copilot does, you know, if I’m responding to a customer today, I go to my engineer who’s working on the customer issues, and say, hey, what is the latest status on this? And I would take a look at some of the other past conversations. I would try and respond to the customer that way. Now the copilot is doing that for me. It’s taking a look at my past emails. It reaches out to the customer service database. It tells me the latest status on this. It creates me a draft that I then go write and I send it out. And in some ways, I get reminded of, my dad used to run a large steel plant in India, and I visited him about 20 years ago. I walked into his office and he was very proud, because they had just gotten email, and I was working at Microsoft, and he had just gotten email. His secretary walked in at that time, and she said, Mr. Jha, I’ve got your morning messages for you, and here’s a message that I’m just going to go reach out to your technical assistant or respond to this person. This one, I know what to do already. This one, what would you like me to tell the customer, this person’s asking for dinner tomorrow. You’re free. And they were done in 15 minutes, and she left. And I looked at my dad, and I said, god, you’re so old-fashioned. Somebody’s actually printing your email, reading and coming and talking to you about it, whereas, look at me, I’m carrying it on my phone. I can get to it anywhere. But now, you know, I understand he was a smart guy, and I’m a digital clerk. I do all the clerical work myself. You know, I’m sorting messages. I’m replying to staff. I don’t come in to work thinking I should be a digital clerk. I come in to work because I want to lead a team, build products and value. That is what AI is now going to do. It’s going to take the clerical part for all of us, and will automate a lot of clerical parts to let the human ingenuity and the creativity and really let us focus on the intent and the meaning of our work.  

    MOLLY WOOD: We need help, Rajesh. We need help. [laughter] Well, speaking of delivering that help to customers, it’s been about a year, year and a half, since Microsoft 365 Copilot launched. Do you have stories from the trenches? Are there fun examples you can share about how this has gone?  

    RAJESH JHA: Really well. Ever since I came to Microsoft, this is the fastest adoption we’ve seen. When a customer buys a license and gives it to an end user, because the copilot is integrated into your user flows in Office, or Teams in a meeting, or so on and so forth, we see very good uptake in usage and retention. Some things that surprised me a little bit—and in hindsight, perhaps not so surprising—is the amount of customizations that customers do want for AI. I have feedback from some customers saying, hey, your AI, I want it to engage more because, you know, we build safety into our AI so it will not engage on some topics. Some customers want it to engage more, some want it to engage less. So they want to customize that. One of the things that some customers ask for is, hey, I would like your AI to not reach out to the web. I only want it to work with the stuff that’s in my enterprise. And I say, yeah, we’ve got that configuration for you. But can I ask you why? If you allow your employees to be able to use the browser and search the web as a part of their job, why is it not okay for the copilot that’s acting on their behalf to reach out on the web and assist them? So I’m surprised with the amount of configuration that enterprises want, which is, of course, enterprises have different business rules and process, so we built many more customizations in M365 Copilot than I had anticipated coming in. 

    MOLLY WOOD: I read some research recently where one of the AI firms said that they had done some analysis and found themselves really surprised at how long the long tail of interactions with AI are.  

    RAJESH JHA: So true. This generation of AI is about information work. It changes how people write, learn, collaborate, read, and so there’s a long tail. Not all of us triage information the same way.  

    MOLLY WOOD: What are some best practices that are starting to emerge? Because certainly every enterprise is going to adopt differently, interact differently, and then have different use cases that may or may not make their experience work.  

    RAJESH JHA: That’s a great question. I would say the successful implementations that we see are the first stage, of course, is to enable people to get productivity boosts with the AI, where the AI is really assisting you. And then the next most important thing that customers end up doing that gives them a real return on investment is to rethink their high-value business process or high-cost business processes, and figure out how to reconfigure that with agents that can automate a bunch of those processes to be either more effective or more efficient. That, I think, is changing the way work happens. For example, if you’re a lawyer and you’re working with a bunch of documents, instead of having—somebody spent a lot of time going through the past relevant briefs and composing a new template. How do you change a new brief creation? How do you change an approval process? How do you change a customer support ticket handling? How do you change a marketing campaign? How do you change a developer workflow? I see customers actually taking a business process, and they are rewiring that for a world where people and AI can work together to automate that, to make it more effective, more efficient. So that is a good best practice, is not trying to solve a hundred business processes, but taking a few and going really deep and measuring the ROI and tweaking that, because then the payoff is right there. 

    MOLLY WOOD: Well, and to dig in a little further, it also sounds like what you’re saying is that companies and CIOs maybe need to commit. Like, if you don’t commit, if you don’t plug Copilot in, if you don’t enable the full Microsoft Graph, if you maybe don’t give access to the web, people are still going to find these tools and use some version of them that might not be as good as they could be if you really do go all in. 

    RAJESH JHA: Yeah, Molly, it’s exactly right. I mean, it goes back to the point we made, which is, leaders, have, you know, leaders have to lead. And the reason why they have to lead here in this transformation is, if a support organization, a marketing organization, engineering organization is wired to work the old way, they are not automatically going to rewire themselves for a world where AI can do a bunch of tasks and people’s tasks change. That’s not going to happen, bottom-up. It’s going to have to happen from the leaders leaning in and saying, okay, you know, am I sure that I have the right compliance and governance and security? Because those are non-negotiable. But once I have that, how do I lead the way where I empower and I get to a world where AI assisting, to agents and people working together? One of the concepts we’ve talked about, and it’s come out in the new Work Trend Index is, corporations, for the longest time, have had static org charts, and every once in a while you do a reorganization and you reconfigure teams for your new evolving business priorities. But those things are not very frequent, nor should they be very frequent, because there’s a huge lag to those things. The way work happens is people, it’s, teams are less static and they’re more outcome-driven. Some of this started to happen post-COVID also, where the fluidity of the team composition was not represented in the org chart. That thing is going to accelerate far more in a world where digital labor and people, agents and people, are going to work together as business processes get rewired. None of this is going to be possible without leaders committing to that. And the way you can commit to it is by taking a few processes that are incredibly important for your business’ top line or your profitability because it’s a high-cost thing, and trying to figure out how to reconfigure those things for people and agents working together in one team. 

    MOLLY WOOD: What do you wish business leaders understood about AI agents to help them make that commitment? 

    RAJESH JHA: The first thing I would just say is, like, it’s not some distant future, it’s happening now. My product management team, they ran a research today of a bunch of different organizations, and this time, you know, usually we talk to 30,000 people across different organizations, 30 different countries. This time, they also reached out to AI-native companies that have started to emerge, so-called frontier companies. And if you take a look at the frontier companies, it is very obvious that the way the distribution of human work and digital labor, how that gets constituted, there’s very interesting patterns that are starting to emerge. The first thing I would just tell leaders is—of established companies such as myself, my peers, and the rest of large organizations—it’s possible today to take full advantage of agents. The security model exists, the identity model exists, the user interface exists. The hard work here is to actually go pick the processes that give you the most bang for the buck and then be rigorous about measuring that. And this is why we invested in something called the Copilot Impact Dashboard, so customers can take their core KPIs and they can measure how the copilot is moving those KPIs. So be rigorous, but be forward-looking. It’s not, hey, let’s just take a leap of faith and let’s get agents everywhere. Be rigorous with security. Be rigorous with governance. Measure the ROI, but pick the processes that you’re going to go add agents to. 

    MOLLY WOOD: It seems like the other tension, in addition to going all in, right, in addition to commitment, is pace, the pace of introducing that change, going fast to keep up to, you know, be pushed properly by Frontier Firms, but not compromising security and guardrails. 

    RAJESH JHA: And so on the pace, it’s a super good tension that you pick up on, and we deal with the tension all the time ourselves at Microsoft. What is hard is to have pace at scale. But what’s not hard is to have pace at smaller scale. I’m not advocating for a large organization to go and say, go rewire all your business process, fast, into the frontier methodology. I’m saying, pick a few that are really important to you and go with base on those, learn from that. Meanwhile, invest in skilling. Meanwhile, invest in assistance for everybody else. And that’s what we do, too, in my team. We want to move very quickly, but we move very quickly in a scoped garden with a few processes, a few customers, and then once we are sure it is mature and it’s ready, do we then scale it out. So, moving fast doesn’t mean move fast all over, all at once, if you’re a large organization. It means you’re moving fast by having picked and assessed. And, you know, which way do you want to go fast and where do you want to go more cautiously, and then take the lessons from moving fast and more broadly. 

    MOLLY WOOD: Right. It’s so valuable to put a fine point on that, because any problem is manageable in component parts. 

    RAJESH JHA: Hundred percent. Hundred percent. And picking is the important thing. But if you pick something unimportant that you’re moving fast on, you’re not really learning a lot either. 

    MOLLY WOOD: Right. Then the other tension, the technology itself is moving really fast, so you might have incorporated something, you’re doing a great job measuring it, and now there’s a whole new tool. How do you advise business leaders to keep up?  

    RAJESH JHA: The playbook is still the same. You have to figure out how to move fast and stay predictable at the same time. And the way you do that is by managing where you move fast and by having rigorous measures of whether the ROI is working out or not. Because you’re a hundred percent right. I mean, the compression of innovation that I’m seeing in the AI wave is like nothing that we’ve seen before in the last 30 years. 

    MOLLY WOOD: So as we talk about committing, you know, it’s one thing to say, maybe give your model access to the web, but there’s this Microsoft Graph that it seems like really unlocks that power. 

    RAJESH JHA: The Microsoft Graph is really not Microsoft’s graph. It is a graph for the customer. It’s owned by the customer. And what it captures is how people inside of their organization work together—the meetings that are important, the documents that have been created, the chats and the projects that people are working on—the business processes that run in their organization, that is all a part of the Microsoft Graph. So you take the power of a reasoning model that now has access to the graph—remember again, the reasoning model has access to the same things that you would as an individual. So when I ask a reasoning model or an agent to work on my behalf on Microsoft Graph, it is working with my permissions. But now it has the ability to read far more, process far more than I would be able to. You take the unique intellectual property of the customer in the graph with all the right permissions overlaid, and then you let AI work on that, along with what’s available in the web, on the world knowledge, your enterprise knowledge—that is the real enabler. So what is great about the researcher in Microsoft 365 Copilot is that it works with your enterprise permissions and your enterprise data, everything that is in the graph. And that is what I think is a real breakthrough. Now you’ve got the makings of a digital employee, somebody who was able to come in, join an organization, and take advantage of all the intellectual property with all the permissioning honored, and take that and be a part of producing output for the company.  

    MOLLY WOOD: Right. I mean, it’s institutional knowledge, like, think about what a great employee I could be if I knew all the context and all the history that a company had gone through. 

    RAJESH JHA: Exactly. And all the relevant, you know, escalations, projects, all of that stuff. 

    MOLLY WOOD: Switching gears a little. You work very closely with Microsoft CEO Satya Nadella. Are there questions that he regularly asks you that you think all leaders should be asking their employees? 

    RAJESH JHA: I think fundamentally my boss, you know, Satya, I mean, he’s pushing me on exactly the set of questions you were asking, on my own organization. The way he describes the priorities that I have and my peer groups have, three priorities—quality, security, and AI transformation, are you moving fast? Fully understanding that quality and security and then moving fast, sometimes are intentions, but that’s what he’s saying. Are you doing your job to do all of these at the same time? A lot of the thrust of his conversations, questions are, are you evolving your own team to be frontier, and what’s getting in your way? Because whatever we learn then applies to our customers. So are we applying the same methodology to make your enterprise-grade securities non-negotiable. And then at the same time, are you moving fast to take full advantage? Are you really rethinking your production functions? So I would say all of his questions and interactions distill into these three things, and are we doing a good job balancing these three things.  

    MOLLY WOOD: This company has reinvented itself many times. What are the key lessons that we and all business leaders should take from those reinventions? 

    RAJESH JHA: I would say again, mission matters. Through those 50 years, our mission is a theme around empowerment, so number one. Number two, I would say is, team culture matters, of course, because the how and where the work—there’s no substitute for that. But then I would say you gotta do the and, it’s never an or. How do you stay scaled and perform while waiting and disrupting at the same time? That comes down to strong leadership, it comes down to good processes. Then, what you touched on that I want to reiterate is, you know, just resiliency. We didn’t get everything right in the last 50 years. We made mistakes, but being resilient, learning from the mistakes, embracing the red so we can do a better job the next time. I think those are all components that I would just say we benefited from having incredible CEOs from Bill and Steve and Satya, so that has been an amazing, you know, learning experience for me and many others to work with those three amazing individuals.  

    MOLLY WOOD: If our listeners could take away one actionable AI-related insight from you, what would it be? 

    RAJESH JHA: I would say, go embrace agents. Pick out your most important processes, reimagine them how agents and digital labor can rewire that. 

    MOLLY WOOD: We love to ask our WorkLab guests how they are using AI themselves, either at work or in your personal life. Are there use cases that have been really helpful for you that you’re willing to talk about? 

    RAJESH JHA: Yeah, the one thing we didn’t talk about that I feel is just mind-blowing, is this reasoning models. You know, today, Molly, you and I going back and forth, then you ask me a hard question, I’ll give you an answer off the cuff. But if you tell me, Rajesh, go think about it and come back to me. And, you know, I have a set of tools available to me and I come back to you, I’m going to give you a much better answer. And so with the reasoning model, that’s what’s happening. We are now letting the AI actually go reason over stuff, give it more time, more compute, and more tools. And so for me, the real breakthrough was every quarter I sit down with my leadership team to take a look at our plans for the next six months. So I ran the researcher model. The researcher model is a deep reasoning model in M365 Copilot that works with the graph and the web, and I asked it, hey, I’m about to have an off-site with my leadership team to take a look at the plans for the next six months, take a look at the competitive landscape, take a look at customer feedback, take a look at all the ideas that have been accumulating in the team, and try and give me a draft of what might be a good starting point for our off-site for the next six-month planning. It was incredible. It was able to get through my email and documents that I hadn’t fully read but my team was iterating on, it looked at the last year’s plans to take a look at the competitive landscape, gave me a great five-page, actually it was eight-page, document that I can now go and tweak and make it my own, and overlay my perspective and use as a starting point. The other one is, like, often I talk to customers, and before I get on the call, I ask my agent—it’s called a KYC agent that my team built, which is, know your customer—and so before I get on to a call with a customer, I go into that agent experience in M365 Copilot and say, can you bring me up to speed on this customer? And it’s able to get to the support tickets, their adoption, their past communications with me, all of that stuff. And I often end up showing the customer the output, and we walk through it, and their question is like, how did you generate that? And in personal life, you want to make a big purchase, you want to do a seven-day trip planning, you want to buy a new car. You know, instead of clicking on 40 links, they can do a lot of research for you and show you that. So I use it for a lot of that too. 

    MOLLY WOOD: Fast-forward for us, three to five years, if possible. What do you think could be the most profound change in the way we work? 

    RAJESH JHA: You know, I think it goes back to the reconstitution of the workforce between humans and digital labor. I think the way we think about org charts, the way we think about groups coming together, the way we think about production function. I mean, it is a big deal to have intelligence be abundant and for it to be affordable. At the same time, I feel very encouraged about what people can uniquely do when you take a lot of the grind and predictability and, you know, have a colleague that is intelligent. I mean, I feel very bullish about how the economy is going to evolve. It won’t be a straight line. There will be scale backs in some of the roles that we think about investing in today, but there will be new roles we’ll be creating. So it’s very hard to predict exactly how it’s going to play out or whether that’s a three-year horizon, five-year horizon, but I do think that is a very clear trend of where we are headed. 

    MOLLY WOOD: Rajesh Jha is Microsoft’s Executive Vice President of Experiences and Devices. Thank you so much for the time today. I couldn’t appreciate it more. 

    RAJESH JHA: Thank you, Molly. I really do appreciate the time as well. 

    MOLLY WOOD: That was Rajesh Jha, Microsoft’s Executive Vice President of Experiences and Devices. Thank you all so much for joining us on this final episode of this season of WorkLab. We’ll be back next season with more insights on how to stay ahead of the curve while the way we work is transforming so quickly. If you’ve got a question or a comment, please drop us an email at worklab@microsoft.com, and check out Microsoft’s Work Trend Indexes and the WorkLab digital publication, where you’ll find all our episodes along with thoughtful stories that explore how business leaders are thriving in today’s new world of work. You can find all of it at microsoft.com/worklab. As for this podcast, please, if you don’t mind, rate us, review us, and follow us wherever you listen. It helps us out a ton. The WorkLab podcast is a place for experts to share their insights and opinions. As students of the future of work, Microsoft values inputs from a diverse set of voices. That said, the opinions and findings of our guests are their own and they may not necessarily reflect Microsoft’s own research or positions. WorkLab is produced by Microsoft with Godfrey Dadich Partners and Reasonable Volume. I’m your host, Molly Wood. Sharon Kallander and Matthew Duncan produced this podcast. Jessica Voelker is the WorkLab editor. 

    MIL OSI Economics

  • MIL-OSI Economics: Podcast: Microsoft EVP Rajesh Jha on leading with courage in the AI era

    Source: Microsoft

    Headline: Podcast: Microsoft EVP Rajesh Jha on leading with courage in the AI era

    MOLLY WOOD: That was Rajesh Jha, Microsoft’s Executive Vice President for Experiences and Devices. As a key figure at the helm of Microsoft’s product innovation, he leads a team of tens of thousands of people around the world who have worked to integrate AI into Windows and tools like Microsoft 365, Teams, and more. He’s also a key member of the company’s senior leadership team, which works directly for Microsoft Chairman and CEO Satya Nadella. In this episode, Jha shares his perspective on navigating the complexities of how AI is changing the way we work, and he offers actionable advice on how leaders have to adapt, compete, and bring their people along with them. And now my conversation with Rajesh. Rajesh, thank you so much for being on WorkLab today.  

    RAJESH JHA: Thank you, Molly, for hosting me. It’s a real pleasure to be here with you.  

    MOLLY WOOD: You have more than 30,000 employees, and you run a $100 billion business, which is more than most CEOs do. What are just some of the many lessons I’m sure you have learned from running such a huge organization? 

    RAJESH JHA: It’s been a real privilege to be at Microsoft through so many of the growth years. When I reflect back on my career, there are a few things that are enduring. The mission matters because through the ups and downs, if you have a sense of purpose, you have a North Star, that really does matter. And Microsoft has been really great to always be grounded in our customer successes, our success—this theme of empowerment, from Bill into Steve into Satya. So that was definitely number one. The second thing that I would say is, it seems very trite, but it has really worked for me specifically and my team, is, whenever we are looking at a hard strategic call, we start from, how would the customer react to the decision that we’re making, that has been incredibly grounding, so that’s been enduring. Of course, the team matters, the culture matters, because that’s where the work gets done. And then finally, managing a large business is about, literally, about figuring out how to make elephants dance, because you have a large-scale business, customers expect us to have a certain level of quality and continuity and predictability. At the same time, they take a bet on us to innovate. And so how do you stay nimble and innovate while also being predictable and trustworthy for customers? That is a hard thing to go do, but absolutely essential. It’s an and, it just can’t be an or.  

    MOLLY WOOD: Well, and Microsoft is an elephant that has danced, quite nimbly, for the last 50 years— 

    RAJESH JHA: Sometime clumsily, sometimes nimbly, yes. [laughter]  

    MOLLY WOOD: We’ll focus on the nimble—or not, right, based on your experience in bringing new technologies to market and helping to effectuate some pretty major technological innovations. What insights do you have for leaders who are now navigating this AI transformation?  

    RAJESH JHA: I mean, now is the time for leaders to really consider how their businesses, how their teams, how their skill set—how does that evolve in a world where we are looking at, you know, something at the peer of electricity coming into society, or the internet coming into society. And so it’s time to lean forward, and lean forward in a way that makes sense for their businesses or their business process. It is such a big change that it’s going to probably take a decade to play out, but there is no avoiding the sea change that’s underway now. So some bravery, but bravery on customers’ terms. 

    MOLLY WOOD: Yeah. I’m thinking of leaders who may be wary, who may need a dose of that courage. You’ve spoken about being asked by Steve Ballmer to bring Office to cloud, as one example of a transformation that maybe you were a little wary about. Can you walk us through that experience and how it might give a shot of courage for folks today. 

    RAJESH JHA: This was, you know, back maybe 15 years ago, Microsoft was incredibly profitable and the cloud was a question mark for many at Microsoft. A) would this technology be mature enough? B) is the business model, because the margins were going to be lower on the cloud than our old business model of being on premises. Number three, would we be able to transform fast enough? Because Microsoft had grown up being a server company, a client company, and would we be able to transcend that to be about cloud and mobile. And they were all very important questions. And there was a lot of, you know, let’s hold back. Let’s see if this trend is really real or not. And Steve showed incredible courage by going all in. What Steve did was he gave license to people to go and learn, even if we were not perfect on day one. And so the big lesson for me in how Steve started that journey was, leaders, if you have hesitation, whether it’s a business model hesitation or cultural hesitation, skill hesitation, it’s very hard for the teams to rally behind something where the leader themselves are half-hearted. So that was a very big moment for us, because he was unambiguous about, hey, this is the way that software is going to be delivered in the future. This is the way we can democratize the value we bring to customers. And there were a lot of benefits, and we are just going to go all in.  

    MOLLY WOOD: So leaders have to go all in. But I would imagine it’s not a—progress is not always a straight line. 

    RAJESH JHA: No, it wasn’t. And even with us in the cloud, it wasn’t. But the main thing is, leaders have to lead. And when you’re taking a look, the hard things are process, business model change, culture change, skill change. They’re all incredibly hard, and that’s why there has to be a commitment from the top that we are going to see this through. And then we were eyes wide open as what our deficiencies were. And so we didn’t have the right skill set. We trained people, we brought in new people, we embraced the red—all the things that we were not doing well in this new transformation. We were very open, very honest. It just takes leadership to set the tone here and to set the things in motion. 

    MOLLY WOOD: Right, and to your point, persistence and belief that it is the right direction so that you stay on that road even when it gets hard.  

    RAJESH JHA: That is correct, Molly, absolutely. And then one additional point I would make with persistence and belief is, it’s one thing to say it, it’s another thing to allocate resources to that belief. We have a quote, which is, if you really want to see the strategy of an organization, you’ve got to see where they’re allocating resources.  

    MOLLY WOOD: On the one hand, it sounds like you’re saying, get comfortable with chaos—  

    RAJESH JHA: Controlled chaos, Molly. Controlled chaos.   

    MOLLY WOOD: Then of course there’s the question of how not to break things. You know, security becomes a big concern with incorporating AI, doing it in a way that doesn’t introduce more problems. What is your advice for having proper guardrails in place as you transform in the AI age?  

    RAJESH JHA: So, I’m gonna answer that in two parts. Part one is, what do I mean by controlled chaos? So Satya invited Scott Guthrie, myself, Charlie [Bell] as the three big product leaders at Microsoft to go over to Bill’s house to see GPT-4, and Satya’s exact comment to me at that time was, I’ve gotta get you guys to be believers. And he had already seen it. And so he and Kevin Scott, they were already on board about the capabilities. So anyway, we go over to Bill’s house, it was in the kitchen area, where the OpenAI folks had put in a demo and they had a grader who grades AP biology there. The thing that really got me was it was not just the multiple choice questions that the model was doing a great job of, it was doing a great job on the written answers. There was some of the AP biology stuff, I’ve studied some biology, but they were far above my ability to understand. And so I look at all of that, I’m completely blown away. But then, for me, the big moment was when Bill asked the question, what would you say to the parent of a sick child, and the empathy or the humanity, almost, that it was able to convey in the answer was like, I would’ve felt proud to have written such a thoughtful note. And I was like, god, this is really, I mean, we are leaving behind the low-altitude handshake between computing and humanity. We are taking a look at something that can be almost at the pure level. And so now, fast-forward, it’s not that long, two years, and we are at the point where we are talking about agents and digital labor and people working together. 

    MOLLY WOOD: But that was it, that worked. You became believers. 

    RAJESH JHA: For me, that was it. I lead a large organization, and I see lots of cool stuff all the time, and part of my job is to make sure the trains keep running on time, but make sure I’m open-minded about big things. And when big things show up, I try to scope it and manage it. I have never in my 30 years ever gone to my team and said, drop all your plans. And for me, that was it. None of the existing plans matter anymore. I huddled all my senior leaders, and I said, Folks, I want you all to run a hundred miles an hour. It’s going to be very uncomfortable, because we’re going to unleash some amount of chaos, but let’s make sure we harden our processes that this chaos does not make its way to customers. So what I mean by controlled chaos is, if you’re unleashing a lot of activity all at once, you need to have the mitigating controls and the guardrails to make sure the chaos is controlled and managed. And so we huddled together to make sure our processes were hardened. So that’s one of the things with controlled chaos. But one of the guardrails that is not negotiable is security, as you correctly pointed out. So in our implementation of AI, we started very much from the mindset of, how does the AI inherit all the existing security and governance controls that an organization already has? It’s one thing to come and tell them, hey, rethink all your business process, rethink your scaling, rethink how work is done, and rethink your security and governance. It’s just not doable. And so we architected this from the ground up, that, for example, when you use Microsoft Copilot, it is using your permissions, so it only has access to what you have access to. It can never do any more than what you might do as a human. And then we also made sure that it was the mindset of a copilot, not an autopilot, and so the humans were always in control. So this way, whatever governance, data classification, permissions, you know, conditional access, retention policies—whatever a customer had, and how they managed human-to-human conversations, all of that accreted to human-to-AI conversation. That was a very hard guardrail we knew we just could not compromise.  

    MOLLY WOOD: But I want to go back to the example that you just gave, this moment of having this experience and realizing how— 

    RAJESH JHA: Profound. 

    MOLLY WOOD: Profound—exactly—and sophisticated these models were, because those are the kind of moments that give you the faith to go all in. 

    Rajesh Jha: Just to go back to that moment, Molly, I mean, to think as an engineer, as somebody who’s been in the tech industry a long time, who’s been through so many of the transformations, the big takeaway for me was, you know, for the first time computing, so far, human and machine interaction has been very much—machines are very low level. You know, we interact with pixels, we click on things, we read stuff. When I come in to work, I don’t come in to work thinking, oh, I should do 16 minutes of email and then read four documents and then, you know, open that spreadsheet, take a look at that budget. I come in thinking, I’ve got to work on budget today. So I think at a high level of intent, but then my intent to decompose is, either on my device, on a bunch of icons I’m swiping through, flipping from application to application, or going really low level—reading emails and then clicking a link. And so high-level intent gets reduced to low-level clerical work, almost. So when I saw this demo, I was like, Wow, the interaction is going to change. It is not going to be intent and then reduced to low-level stuff. AI is going to have the capability to have a human-to-human-like conversation. So intent, high-level intent to high-level intent, and that was what was the big takeaway for me. This is the computing for the last 35 years. One thing that hadn’t changed was a fundamental interaction pattern between people and their devices, and that was going to change, because now you could express, hey, I want to write a document that has the following three ideas, take a look at the relevant stuff in my enterprise and on the web—and can you compose a report for me? That is the kind of thing that I would tell another human being if there was a new hire in my team and, you know, I was thinking about a project to give them. This is the kind of way I might express the project to them, and then they will go in and do the work, check in with me, and we go back and forth. Now that was going to be possible.  

    MOLLY WOOD: Let’s keep talking about that idea of leveling up. We now live in a world where I may get an email from your account and I may not know if it was written by you or an AI, and that may not matter.  

    RAJESH JHA: You know, in some ways, it’s not that different from what happens for some of us. Let’s say I was to send a large piece of email to my team. I would actually work with my staff and my leadership team to get the latest status on a few things, and then I would put it in my words, and I would send it out. Now, everybody has that ability, because what the copilot does, you know, if I’m responding to a customer today, I go to my engineer who’s working on the customer issues, and say, hey, what is the latest status on this? And I would take a look at some of the other past conversations. I would try and respond to the customer that way. Now the copilot is doing that for me. It’s taking a look at my past emails. It reaches out to the customer service database. It tells me the latest status on this. It creates me a draft that I then go write and I send it out. And in some ways, I get reminded of, my dad used to run a large steel plant in India, and I visited him about 20 years ago. I walked into his office and he was very proud, because they had just gotten email, and I was working at Microsoft, and he had just gotten email. His secretary walked in at that time, and she said, Mr. Jha, I’ve got your morning messages for you, and here’s a message that I’m just going to go reach out to your technical assistant or respond to this person. This one, I know what to do already. This one, what would you like me to tell the customer, this person’s asking for dinner tomorrow. You’re free. And they were done in 15 minutes, and she left. And I looked at my dad, and I said, god, you’re so old-fashioned. Somebody’s actually printing your email, reading and coming and talking to you about it, whereas, look at me, I’m carrying it on my phone. I can get to it anywhere. But now, you know, I understand he was a smart guy, and I’m a digital clerk. I do all the clerical work myself. You know, I’m sorting messages. I’m replying to staff. I don’t come in to work thinking I should be a digital clerk. I come in to work because I want to lead a team, build products and value. That is what AI is now going to do. It’s going to take the clerical part for all of us, and will automate a lot of clerical parts to let the human ingenuity and the creativity and really let us focus on the intent and the meaning of our work.  

    MOLLY WOOD: We need help, Rajesh. We need help. [laughter] Well, speaking of delivering that help to customers, it’s been about a year, year and a half, since Microsoft 365 Copilot launched. Do you have stories from the trenches? Are there fun examples you can share about how this has gone?  

    RAJESH JHA: Really well. Ever since I came to Microsoft, this is the fastest adoption we’ve seen. When a customer buys a license and gives it to an end user, because the copilot is integrated into your user flows in Office, or Teams in a meeting, or so on and so forth, we see very good uptake in usage and retention. Some things that surprised me a little bit—and in hindsight, perhaps not so surprising—is the amount of customizations that customers do want for AI. I have feedback from some customers saying, hey, your AI, I want it to engage more because, you know, we build safety into our AI so it will not engage on some topics. Some customers want it to engage more, some want it to engage less. So they want to customize that. One of the things that some customers ask for is, hey, I would like your AI to not reach out to the web. I only want it to work with the stuff that’s in my enterprise. And I say, yeah, we’ve got that configuration for you. But can I ask you why? If you allow your employees to be able to use the browser and search the web as a part of their job, why is it not okay for the copilot that’s acting on their behalf to reach out on the web and assist them? So I’m surprised with the amount of configuration that enterprises want, which is, of course, enterprises have different business rules and process, so we built many more customizations in M365 Copilot than I had anticipated coming in. 

    MOLLY WOOD: I read some research recently where one of the AI firms said that they had done some analysis and found themselves really surprised at how long the long tail of interactions with AI are.  

    RAJESH JHA: So true. This generation of AI is about information work. It changes how people write, learn, collaborate, read, and so there’s a long tail. Not all of us triage information the same way.  

    MOLLY WOOD: What are some best practices that are starting to emerge? Because certainly every enterprise is going to adopt differently, interact differently, and then have different use cases that may or may not make their experience work.  

    RAJESH JHA: That’s a great question. I would say the successful implementations that we see are the first stage, of course, is to enable people to get productivity boosts with the AI, where the AI is really assisting you. And then the next most important thing that customers end up doing that gives them a real return on investment is to rethink their high-value business process or high-cost business processes, and figure out how to reconfigure that with agents that can automate a bunch of those processes to be either more effective or more efficient. That, I think, is changing the way work happens. For example, if you’re a lawyer and you’re working with a bunch of documents, instead of having—somebody spent a lot of time going through the past relevant briefs and composing a new template. How do you change a new brief creation? How do you change an approval process? How do you change a customer support ticket handling? How do you change a marketing campaign? How do you change a developer workflow? I see customers actually taking a business process, and they are rewiring that for a world where people and AI can work together to automate that, to make it more effective, more efficient. So that is a good best practice, is not trying to solve a hundred business processes, but taking a few and going really deep and measuring the ROI and tweaking that, because then the payoff is right there. 

    MOLLY WOOD: Well, and to dig in a little further, it also sounds like what you’re saying is that companies and CIOs maybe need to commit. Like, if you don’t commit, if you don’t plug Copilot in, if you don’t enable the full Microsoft Graph, if you maybe don’t give access to the web, people are still going to find these tools and use some version of them that might not be as good as they could be if you really do go all in. 

    RAJESH JHA: Yeah, Molly, it’s exactly right. I mean, it goes back to the point we made, which is, leaders, have, you know, leaders have to lead. And the reason why they have to lead here in this transformation is, if a support organization, a marketing organization, engineering organization is wired to work the old way, they are not automatically going to rewire themselves for a world where AI can do a bunch of tasks and people’s tasks change. That’s not going to happen, bottom-up. It’s going to have to happen from the leaders leaning in and saying, okay, you know, am I sure that I have the right compliance and governance and security? Because those are non-negotiable. But once I have that, how do I lead the way where I empower and I get to a world where AI assisting, to agents and people working together? One of the concepts we’ve talked about, and it’s come out in the new Work Trend Index is, corporations, for the longest time, have had static org charts, and every once in a while you do a reorganization and you reconfigure teams for your new evolving business priorities. But those things are not very frequent, nor should they be very frequent, because there’s a huge lag to those things. The way work happens is people, it’s, teams are less static and they’re more outcome-driven. Some of this started to happen post-COVID also, where the fluidity of the team composition was not represented in the org chart. That thing is going to accelerate far more in a world where digital labor and people, agents and people, are going to work together as business processes get rewired. None of this is going to be possible without leaders committing to that. And the way you can commit to it is by taking a few processes that are incredibly important for your business’ top line or your profitability because it’s a high-cost thing, and trying to figure out how to reconfigure those things for people and agents working together in one team. 

    MOLLY WOOD: What do you wish business leaders understood about AI agents to help them make that commitment? 

    RAJESH JHA: The first thing I would just say is, like, it’s not some distant future, it’s happening now. My product management team, they ran a research today of a bunch of different organizations, and this time, you know, usually we talk to 30,000 people across different organizations, 30 different countries. This time, they also reached out to AI-native companies that have started to emerge, so-called frontier companies. And if you take a look at the frontier companies, it is very obvious that the way the distribution of human work and digital labor, how that gets constituted, there’s very interesting patterns that are starting to emerge. The first thing I would just tell leaders is—of established companies such as myself, my peers, and the rest of large organizations—it’s possible today to take full advantage of agents. The security model exists, the identity model exists, the user interface exists. The hard work here is to actually go pick the processes that give you the most bang for the buck and then be rigorous about measuring that. And this is why we invested in something called the Copilot Impact Dashboard, so customers can take their core KPIs and they can measure how the copilot is moving those KPIs. So be rigorous, but be forward-looking. It’s not, hey, let’s just take a leap of faith and let’s get agents everywhere. Be rigorous with security. Be rigorous with governance. Measure the ROI, but pick the processes that you’re going to go add agents to. 

    MOLLY WOOD: It seems like the other tension, in addition to going all in, right, in addition to commitment, is pace, the pace of introducing that change, going fast to keep up to, you know, be pushed properly by Frontier Firms, but not compromising security and guardrails. 

    RAJESH JHA: And so on the pace, it’s a super good tension that you pick up on, and we deal with the tension all the time ourselves at Microsoft. What is hard is to have pace at scale. But what’s not hard is to have pace at smaller scale. I’m not advocating for a large organization to go and say, go rewire all your business process, fast, into the frontier methodology. I’m saying, pick a few that are really important to you and go with base on those, learn from that. Meanwhile, invest in skilling. Meanwhile, invest in assistance for everybody else. And that’s what we do, too, in my team. We want to move very quickly, but we move very quickly in a scoped garden with a few processes, a few customers, and then once we are sure it is mature and it’s ready, do we then scale it out. So, moving fast doesn’t mean move fast all over, all at once, if you’re a large organization. It means you’re moving fast by having picked and assessed. And, you know, which way do you want to go fast and where do you want to go more cautiously, and then take the lessons from moving fast and more broadly. 

    MOLLY WOOD: Right. It’s so valuable to put a fine point on that, because any problem is manageable in component parts. 

    RAJESH JHA: Hundred percent. Hundred percent. And picking is the important thing. But if you pick something unimportant that you’re moving fast on, you’re not really learning a lot either. 

    MOLLY WOOD: Right. Then the other tension, the technology itself is moving really fast, so you might have incorporated something, you’re doing a great job measuring it, and now there’s a whole new tool. How do you advise business leaders to keep up?  

    RAJESH JHA: The playbook is still the same. You have to figure out how to move fast and stay predictable at the same time. And the way you do that is by managing where you move fast and by having rigorous measures of whether the ROI is working out or not. Because you’re a hundred percent right. I mean, the compression of innovation that I’m seeing in the AI wave is like nothing that we’ve seen before in the last 30 years. 

    MOLLY WOOD: So as we talk about committing, you know, it’s one thing to say, maybe give your model access to the web, but there’s this Microsoft Graph that it seems like really unlocks that power. 

    RAJESH JHA: The Microsoft Graph is really not Microsoft’s graph. It is a graph for the customer. It’s owned by the customer. And what it captures is how people inside of their organization work together—the meetings that are important, the documents that have been created, the chats and the projects that people are working on—the business processes that run in their organization, that is all a part of the Microsoft Graph. So you take the power of a reasoning model that now has access to the graph—remember again, the reasoning model has access to the same things that you would as an individual. So when I ask a reasoning model or an agent to work on my behalf on Microsoft Graph, it is working with my permissions. But now it has the ability to read far more, process far more than I would be able to. You take the unique intellectual property of the customer in the graph with all the right permissions overlaid, and then you let AI work on that, along with what’s available in the web, on the world knowledge, your enterprise knowledge—that is the real enabler. So what is great about the researcher in Microsoft 365 Copilot is that it works with your enterprise permissions and your enterprise data, everything that is in the graph. And that is what I think is a real breakthrough. Now you’ve got the makings of a digital employee, somebody who was able to come in, join an organization, and take advantage of all the intellectual property with all the permissioning honored, and take that and be a part of producing output for the company.  

    MOLLY WOOD: Right. I mean, it’s institutional knowledge, like, think about what a great employee I could be if I knew all the context and all the history that a company had gone through. 

    RAJESH JHA: Exactly. And all the relevant, you know, escalations, projects, all of that stuff. 

    MOLLY WOOD: Switching gears a little. You work very closely with Microsoft CEO Satya Nadella. Are there questions that he regularly asks you that you think all leaders should be asking their employees? 

    RAJESH JHA: I think fundamentally my boss, you know, Satya, I mean, he’s pushing me on exactly the set of questions you were asking, on my own organization. The way he describes the priorities that I have and my peer groups have, three priorities—quality, security, and AI transformation, are you moving fast? Fully understanding that quality and security and then moving fast, sometimes are intentions, but that’s what he’s saying. Are you doing your job to do all of these at the same time? A lot of the thrust of his conversations, questions are, are you evolving your own team to be frontier, and what’s getting in your way? Because whatever we learn then applies to our customers. So are we applying the same methodology to make your enterprise-grade securities non-negotiable. And then at the same time, are you moving fast to take full advantage? Are you really rethinking your production functions? So I would say all of his questions and interactions distill into these three things, and are we doing a good job balancing these three things.  

    MOLLY WOOD: This company has reinvented itself many times. What are the key lessons that we and all business leaders should take from those reinventions? 

    RAJESH JHA: I would say again, mission matters. Through those 50 years, our mission is a theme around empowerment, so number one. Number two, I would say is, team culture matters, of course, because the how and where the work—there’s no substitute for that. But then I would say you gotta do the and, it’s never an or. How do you stay scaled and perform while waiting and disrupting at the same time? That comes down to strong leadership, it comes down to good processes. Then, what you touched on that I want to reiterate is, you know, just resiliency. We didn’t get everything right in the last 50 years. We made mistakes, but being resilient, learning from the mistakes, embracing the red so we can do a better job the next time. I think those are all components that I would just say we benefited from having incredible CEOs from Bill and Steve and Satya, so that has been an amazing, you know, learning experience for me and many others to work with those three amazing individuals.  

    MOLLY WOOD: If our listeners could take away one actionable AI-related insight from you, what would it be? 

    RAJESH JHA: I would say, go embrace agents. Pick out your most important processes, reimagine them how agents and digital labor can rewire that. 

    MOLLY WOOD: We love to ask our WorkLab guests how they are using AI themselves, either at work or in your personal life. Are there use cases that have been really helpful for you that you’re willing to talk about? 

    RAJESH JHA: Yeah, the one thing we didn’t talk about that I feel is just mind-blowing, is this reasoning models. You know, today, Molly, you and I going back and forth, then you ask me a hard question, I’ll give you an answer off the cuff. But if you tell me, Rajesh, go think about it and come back to me. And, you know, I have a set of tools available to me and I come back to you, I’m going to give you a much better answer. And so with the reasoning model, that’s what’s happening. We are now letting the AI actually go reason over stuff, give it more time, more compute, and more tools. And so for me, the real breakthrough was every quarter I sit down with my leadership team to take a look at our plans for the next six months. So I ran the researcher model. The researcher model is a deep reasoning model in M365 Copilot that works with the graph and the web, and I asked it, hey, I’m about to have an off-site with my leadership team to take a look at the plans for the next six months, take a look at the competitive landscape, take a look at customer feedback, take a look at all the ideas that have been accumulating in the team, and try and give me a draft of what might be a good starting point for our off-site for the next six-month planning. It was incredible. It was able to get through my email and documents that I hadn’t fully read but my team was iterating on, it looked at the last year’s plans to take a look at the competitive landscape, gave me a great five-page, actually it was eight-page, document that I can now go and tweak and make it my own, and overlay my perspective and use as a starting point. The other one is, like, often I talk to customers, and before I get on the call, I ask my agent—it’s called a KYC agent that my team built, which is, know your customer—and so before I get on to a call with a customer, I go into that agent experience in M365 Copilot and say, can you bring me up to speed on this customer? And it’s able to get to the support tickets, their adoption, their past communications with me, all of that stuff. And I often end up showing the customer the output, and we walk through it, and their question is like, how did you generate that? And in personal life, you want to make a big purchase, you want to do a seven-day trip planning, you want to buy a new car. You know, instead of clicking on 40 links, they can do a lot of research for you and show you that. So I use it for a lot of that too. 

    MOLLY WOOD: Fast-forward for us, three to five years, if possible. What do you think could be the most profound change in the way we work? 

    RAJESH JHA: You know, I think it goes back to the reconstitution of the workforce between humans and digital labor. I think the way we think about org charts, the way we think about groups coming together, the way we think about production function. I mean, it is a big deal to have intelligence be abundant and for it to be affordable. At the same time, I feel very encouraged about what people can uniquely do when you take a lot of the grind and predictability and, you know, have a colleague that is intelligent. I mean, I feel very bullish about how the economy is going to evolve. It won’t be a straight line. There will be scale backs in some of the roles that we think about investing in today, but there will be new roles we’ll be creating. So it’s very hard to predict exactly how it’s going to play out or whether that’s a three-year horizon, five-year horizon, but I do think that is a very clear trend of where we are headed. 

    MOLLY WOOD: Rajesh Jha is Microsoft’s Executive Vice President of Experiences and Devices. Thank you so much for the time today. I couldn’t appreciate it more. 

    RAJESH JHA: Thank you, Molly. I really do appreciate the time as well. 

    MOLLY WOOD: That was Rajesh Jha, Microsoft’s Executive Vice President of Experiences and Devices. Thank you all so much for joining us on this final episode of this season of WorkLab. We’ll be back next season with more insights on how to stay ahead of the curve while the way we work is transforming so quickly. If you’ve got a question or a comment, please drop us an email at worklab@microsoft.com, and check out Microsoft’s Work Trend Indexes and the WorkLab digital publication, where you’ll find all our episodes along with thoughtful stories that explore how business leaders are thriving in today’s new world of work. You can find all of it at microsoft.com/worklab. As for this podcast, please, if you don’t mind, rate us, review us, and follow us wherever you listen. It helps us out a ton. The WorkLab podcast is a place for experts to share their insights and opinions. As students of the future of work, Microsoft values inputs from a diverse set of voices. That said, the opinions and findings of our guests are their own and they may not necessarily reflect Microsoft’s own research or positions. WorkLab is produced by Microsoft with Godfrey Dadich Partners and Reasonable Volume. I’m your host, Molly Wood. Sharon Kallander and Matthew Duncan produced this podcast. Jessica Voelker is the WorkLab editor. 

    MIL OSI Economics

  • MIL-OSI USA: Fischer Statement on Senate Passage of One Big Beautiful Bill

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer
    Fischer’s Paid Family and Medical Leave policy made permanent in bill—delivering long-term support for working families and employers
    Today, U.S. Senator Deb Fischer (R-Neb.) released the following statement after the U.S. Senate passed the One Big Beautiful Bill:  
    “Last November, Americans spoke loud and clear: they want safer communities, lower energy costs, and real relief for working families. Today, the Senate delivered—blocking a $4 trillion tax hike and investing in border security to keep America safe. This bill locks in the 2017 Tax Cuts and Jobs Act, saving the average Nebraska family $2,400 a year. It keeps taxes low, boosts small businesses, strengthens our military, supports farmers and ranchers, and makes energy more affordable for everyone.
    “I’m also pleased this bill makes permanent my Paid Family and Medical Leave (PFML) Tax Credit. Since I established the nation’s first and only federal PFML policy in 2017, this credit has empowered employers of all sizes to offer paid leave to their workers voluntarily, rather than through a government mandate. Now, employers across America have the certainty they need to support employees as they care for a newborn or an aging parent without sacrificing their job or paycheck.
    “I urge the House to take up this bill and send it to the president’s desk so we can deliver on our promises to empower working families and keep America safe, strong, and prosperous.”
     
    One Big Beautiful Bill Provisions:The One Big Beautiful Bill contains the following provisions championed by Fischer:
    Paid Family Medical Leave Tax Credit Extension and Enhancement Act: makes the PFML Employer Tax Credit—the country’s first-ever nationwide PFML policy—permanent, helping employers of all sizes to voluntarily – not through a government mandate—offer PFML plans to their employees; 
    A carve-out for the Department of Defense—for the first time in history—of specific spectrum bands (3, 7, and 8 gigahertz frequencies) from general Federal Communications Commission auction authority, which will safeguard the missile defense of the homeland, protect our military radars and sensors, and lay the groundwork for long-term defense innovation—including the Golden Dome Missile Defense Shield; and
    A modified version of her Protecting Rural Seniors Access to Care Act, which repeals a harmful Biden-era staffing mandate that would have forced several long-term care (LTC) facilities to close, depriving America’s seniors of care.
    It also includes the following tax provisions to benefit Nebraska families:
    Prevents a more-than $2,400 tax hike on the average Nebraska family;
    Protects over 44,000 family-owned farms in Nebraska from having their death tax exemption cut in half;
    Protects 37,000 jobs in Nebraska from being lost;
    Ensures more than 239,000 Nebraska households’ child tax credit is not cut in half;
    Makes sure more than 868,000 Nebraska families’ standard deduction is not cut in half;
    Establishes work requirements for able-bodied adults who are choosing not to work and do not have dependent children or elderly parents in their care; and
    Ensures no taxes on tips or overtime for millions of tipped and hourly workers.
    It also supports Nebraska’s agricultural industry by: 
    Extending the 45Z Clean Fuels Production Tax Credit to support Nebraska’s farmers and biofuel producers;
    Investing in and modernizing the farm safety net, including improvements to crop insurance;
    Expanding markets for Nebraska’s ag producers by investing in trade promotion;
    Increasing funding for foreign animal disease prevention to protect Nebraska’s ag industry; and
    Increasing funding for agricultural research.
    The bill invests in America’s border security through the following provisions:
    $46.5 billion for U.S. Customs and Border Patrol (CBP) to build the border wall and associated infrastructure;
    $45 billion to increase the detention of illegal migrants;
    $6 billion for improvements to surveillance at the border; and
    Funding for the U.S. Department of Homeland Security (DHS) to increase staffing and enhance migrant screening and vetting processes.
    The bill also makes crucial investments in America’s national security through the following provisions:
    $15 billion to modernize nuclear weapons and delivery systems and to invest in the infrastructure needed to restore America’s ability to manufacture nuclear weapons;
    $25 billion to accelerate procurement of key munitions and expand production capacity;
    $25 billion for America’s Golden Dome—building a layered missile defense shield and developing space-based assets to protect the homeland and deployed troops; and
    $1 billion to support Department of Defense personnel and logistics for border security and counterdrug operations.

    MIL OSI USA News

  • MIL-OSI USA: Warren Responds to Senate Republicans Passing Trump Bill, Slams Republicans for “Cheer[ing] Over Taking Away Health Care from Around 17 Million People”

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    July 01, 2025
    Watch the Video (YouTube)
    Washington, D.C. — In a new video reacting to the passage of President Trump’s “Big, Beautiful Bill,” U.S. Senator Elizabeth Warren (D-Mass.) slammed Senate Republicans for “cheer[ing] over taking away health care from around 17 million people… giving huge tax breaks to a handful of billionaires.” 
    On Tuesday, the Senate completed 26 hours of debate on the “Big, Beautiful Bill,” following Democrats’ successful delay of the bill’s passage. Despite Republicans’ efforts to rush the bill through, it only passed after Vice President JD Vance broke the 50-50 Senate tie. 
    During the debate and amendment process, Senate Democrats successfully pushed to strike provisions that would have devastated the deployment of clean energy and prohibited the regulation of artificial intelligence (AI) at the state level for ten years. 
    “[W]e proved why we stay in the fight, because actually, there are pieces of this bill that we got better…It’s always the reminder: all of those calls matter,” said Senator Warren. 
    The bill now heads back to the House of Representatives for consideration of the Senate’s amended version of the bill. 
    Senator Warren urged people across the country to continue fighting back as the bill continues to make its way through Congress. 
    “We stay in it not because it’s an easy fight, not because we’re guaranteed to win every time. We stay in it, because it’s the right fight,” Senator Warren concluded. 
    Transcript: Senator Warren’s Reaction to Senate Passage of the “Big, Beautiful Bill”July 1, 2025
    Senator Elizabeth Warren: I’m leaving the Senate now at the end of the vote. When the Republicans won, they cheered. 
    They cheered over taking away health care from around 17 million people. They cheered over giving huge tax breaks to a handful of billionaires. They cheered over running up the national debt by another three and a half trillion dollars. 
    You know, this bill is bad. It’s bad economically, it’s bad morally. This bill is just wrong. 
    But, we stay in the fight. We stay in the fight. And we proved why we stay in the fight, because actually, there are pieces of this bill that we got better. 
    We got the tax on solar and wind knocked out, and that’s going to help with clean energy. We got a few different pieces and made them better. So that’s reason number one. It’s always the reminder: all of those calls matter. 
    Reason number two is: it’s still not over. The bill has now got to go back over to the House, and there are a lot of Republicans who are feeling really squeamish about this bill at this point, so that means we got to stay in the fight. 
    And reason number three is: yeah, they may do this now, but come November 2026, they’re going to have to face the voters. They’re going to have to face the people, the families of the people whose health care they took away, and they’re going to have to explain exactly what they just did just now on the floor of the United States Senate and whatever they do next. 
    So, this is hard, but damn, we stay in the fight. We stay in it not because it’s an easy fight, not because we’re guaranteed to win every time. We stay in it, because it’s the right fight.

    MIL OSI USA News

  • MIL-OSI Video: Secretary-General/Financing for Development & other topics – Daily Press Briefing | United Nations

    Source: United Nations (video statements)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    ———————————

    Highlights:
    Secretary-General / Financing for Development
    Deputy Secretary-General
    Occupied Palestinian Territory
    Syria
    Humanitarian Syria
    Sudan
    Sudan Humanitarian
    Democratic Republic of the Congo
    Haiti
    Briefing
    ———————————
    SECRETARY-GENERAL/ FINANCING FOR DEVELOPMENT
    This morning, in Sevilla, Spain, the Secretary-General had a closed meeting with the Heads of the Multilateral Development Banks (MDBs). He then had a bilateral meeting with Juan Manuel Moreno Bonilla, President of the regional government of Andalusia and the First Vice-President of the European Committee of the Regions.
    The Secretary-General left Sevilla in the afternoon. We expect to announce his next travel in the coming days.

    DEPUTY SECRETARY-GENERAL
    The Deputy Secretary-General, Amina Mohammed, was also present at the Fourth International Conference on Financing for Development (FFD4) in Sevilla, where she delivered remarks at the High-Level session of the International Business Forum. She called for a shift from international assistance to investments in sustainable development and underscored the private sector’s role in delivering impact at scale.
    She also participated in a G20-Spain high-level special event on debt sustainability in developing countries alongside Prime Minister Pedro Sanchez, and she highlighted the need to break the cycle of debt and welcomed the growing attention from policymakers.
    This evening, she will travel to Vienna to address the 68th session of the Committee on the Peaceful Uses of Outer Space, organized by the United Nations Office for Outer Space Affairs (UNOOSA).
    During her time, there she will meet with Member States, senior government officials and the UN system. She will then return to Seville on Thursday for the closing of FFD4.

    OCCUPIED PALESTINIAN TERRITORY
    Turning to the situation in the Gaza Strip, the Israeli military operations have further intensified in northern Gaza since the issuance of the displacement order on Sunday by the Israeli authorities. In the time since that directive was announced, our partners on the ground say that at least 1,500 families have been displaced from North Gaza, as well as eastern parts of Gaza governorate, towards the central and western parts of Gaza governorate.
    Over the past 48 hours, five school buildings sheltering displaced families in North Gaza were reportedly hit, with deaths and injuries reported. Initial assessments by partners indicate that many families who fled from the schools that were hit have returned to North Gaza, largely due to the lack of alternatives and limited shelter space elsewhere.
    Healthcare also continues to come under attack. The World Health Organization says that in central Gaza yesterday, a tent sheltering displaced people in the courtyard of Al-Aqsa Hospital in Deir al Balah was reportedly hit, injuring five people. The agency added that the hospital’s internal medicine department also sustained some damage, and its oxygen supply line was affected.
    Since October 2023, WHO has documented 734 attacks on healthcare in Gaza. WHO reiterated its call for the protection of civilians and healthcare facilities. OCHA reiterates that under international humanitarian law, civilians and civilian infrastructure must be protected, not targeted.
    Regarding aid operations on the ground, OCHA tells us that movement restrictions remain a major challenge, preventing partners from predictably and sustainably providing critical services and assistance.

    Full Highlights:
    https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=01+July+2025

    https://www.youtube.com/watch?v=kggmKeR7k-k

    MIL OSI Video

  • MIL-OSI Video: Secretary-General/Financing for Development & other topics – Daily Press Briefing | United Nations

    Source: United Nations (video statements)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    ———————————

    Highlights:
    Secretary-General / Financing for Development
    Deputy Secretary-General
    Occupied Palestinian Territory
    Syria
    Humanitarian Syria
    Sudan
    Sudan Humanitarian
    Democratic Republic of the Congo
    Haiti
    Briefing
    ———————————
    SECRETARY-GENERAL/ FINANCING FOR DEVELOPMENT
    This morning, in Sevilla, Spain, the Secretary-General had a closed meeting with the Heads of the Multilateral Development Banks (MDBs). He then had a bilateral meeting with Juan Manuel Moreno Bonilla, President of the regional government of Andalusia and the First Vice-President of the European Committee of the Regions.
    The Secretary-General left Sevilla in the afternoon. We expect to announce his next travel in the coming days.

    DEPUTY SECRETARY-GENERAL
    The Deputy Secretary-General, Amina Mohammed, was also present at the Fourth International Conference on Financing for Development (FFD4) in Sevilla, where she delivered remarks at the High-Level session of the International Business Forum. She called for a shift from international assistance to investments in sustainable development and underscored the private sector’s role in delivering impact at scale.
    She also participated in a G20-Spain high-level special event on debt sustainability in developing countries alongside Prime Minister Pedro Sanchez, and she highlighted the need to break the cycle of debt and welcomed the growing attention from policymakers.
    This evening, she will travel to Vienna to address the 68th session of the Committee on the Peaceful Uses of Outer Space, organized by the United Nations Office for Outer Space Affairs (UNOOSA).
    During her time, there she will meet with Member States, senior government officials and the UN system. She will then return to Seville on Thursday for the closing of FFD4.

    OCCUPIED PALESTINIAN TERRITORY
    Turning to the situation in the Gaza Strip, the Israeli military operations have further intensified in northern Gaza since the issuance of the displacement order on Sunday by the Israeli authorities. In the time since that directive was announced, our partners on the ground say that at least 1,500 families have been displaced from North Gaza, as well as eastern parts of Gaza governorate, towards the central and western parts of Gaza governorate.
    Over the past 48 hours, five school buildings sheltering displaced families in North Gaza were reportedly hit, with deaths and injuries reported. Initial assessments by partners indicate that many families who fled from the schools that were hit have returned to North Gaza, largely due to the lack of alternatives and limited shelter space elsewhere.
    Healthcare also continues to come under attack. The World Health Organization says that in central Gaza yesterday, a tent sheltering displaced people in the courtyard of Al-Aqsa Hospital in Deir al Balah was reportedly hit, injuring five people. The agency added that the hospital’s internal medicine department also sustained some damage, and its oxygen supply line was affected.
    Since October 2023, WHO has documented 734 attacks on healthcare in Gaza. WHO reiterated its call for the protection of civilians and healthcare facilities. OCHA reiterates that under international humanitarian law, civilians and civilian infrastructure must be protected, not targeted.
    Regarding aid operations on the ground, OCHA tells us that movement restrictions remain a major challenge, preventing partners from predictably and sustainably providing critical services and assistance.

    Full Highlights:
    https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=01+July+2025

    https://www.youtube.com/watch?v=kggmKeR7k-k

    MIL OSI Video

  • MIL-OSI Banking: IPAA: “‘One Big, Beautiful Bill’ Remains a Win for American Energy”

    Source: Independent Petroleum Association of America

    Headline: IPAA: “‘One Big, Beautiful Bill’ Remains a Win for American Energy”

    IPAA: “‘One Big, Beautiful Bill’ Remains a Win for American Energy”

    WASHINGTON – Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following passage of the budget reconciliation bill in the U.S. Senate:

    “President Trump’s ‘One Big, Beautiful Bill’ remains a win for American energy. The bill passed today improves the ability of independent oil and natural gas producers to supply reliable, affordable energy to the American people.

    “IPAA is pleased that the legislation reinstates oil and natural gas lease sales for onshore and offshore federal lands and makes common sense reforms to the permitting and leasing process on federal lands. IPAA members, the small businesses of the oil patch, are grateful that industry tax treatments including intangible drilling costs and percentage depletion were protected, along with carried interest deductions being preserved.

    “While we are disappointed that the legislation does not include a full repeal of the Methane Emissions Reduction Program (MERP) including the methane tax, as we have consistently argued for and will continue to, the 10-year delay of the MERP provides time to for legislators to work with regulators and industry to craft an alternate solution that makes sense for smaller producers.

    “Independent producers congratulate Majority Leader Thune and Senate leadership for uniting their members on the legislation. IPAA urges quick, unified action to send the OBBB to President Trump for his signature as soon as possible.”

    IPAA worked closely with national groups including the U.S. Chamber of Commerce and National Association of Manufacturers to advocate in support of the One Big Beautiful Bill Act, including for the permanent extension of tax reforms in the 2017 Tax Cuts and Jobs Act (TCJA). IPAA CEO Eshelman is a member of the US Chamber of Commerce’s “Committee of 100” and the National Association of Manufacturers’ “Council of Manufacturing Associations.”

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    MIL OSI Global Banks

  • MIL-OSI USA: PRESS RELEASE: Reps. Barragán, Buchanan, Sánchez, and Bilirakis Reintroduce Bipartisan Resolution Recognizing June 2025 as Alzheimer’s and Brain Awareness Month

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    June 30, 2025

    Contact: Jin.Choi@mail.house.gov

    Reps. Barragán, Buchanan, Sánchez, and Bilirakis Reintroduce Bipartisan Resolution Recognizing June 2025 as Alzheimer’s and Brain Awareness Month

    Washington, D.C. – Today, Congresswoman Nanette Barragán (CA-44), Congressman Vern Buchanan (FL-16), Congresswoman Linda Sánchez (CA-38), and Congressman Gus Bilirakis (FL-12) reintroduced a bipartisan resolution to designate June 2025 as Alzheimer’s and Brain Awareness Month. The resolution seeks to increase public understanding of Alzheimer’s disease, support continued investment in research, and recognize the strength and sacrifice of individuals living with Alzheimer’s and their caregivers.

    “Nearly 7 million Americans, including my own mother, are living with Alzheimer’s or another form of dementia. This disease is deeply personal to me, and to the countless families who serve as caregivers while grappling with its emotional and financial toll,” said Rep. Barragán. “We must continue to raise awareness, advance research, and support caregivers, especially those in communities of color where disparities in diagnosis, access to care, and outcomes persist. I’m grateful to my colleagues, Reps. Buchanan, Sánchez, and Bilirakis, for their partnership in this bipartisan effort.”

    “As someone who cared for a parent with this horrible disease, I believe that it is critical for Congress to take steps to recognize the impact that Alzheimer’s and dementia have on the millions of Americans diagnosed every year,” said Rep. Buchanan. “I am proud to co-lead this bipartisan resolution with Reps. Barragán, Sánchez and Bilirakis to bring much-needed and continued awareness to these deadly diseases.”

    “As the daughter of two parents who suffered from Alzheimer’s, I can tell you firsthand how devastating the disease is, as well as the emotional toll it takes on families,” Congresswoman Linda T. Sánchez said. “This resolution recognizes the importance of early detection and screening, as well as how this disease disproportionately affects women, Latinos, and Black Americans. It is important that we continue raising awareness around the facts of this disease, and advancing research to eventually find a cure.”

    “As research continues to yield advancement in the development of more treatment options for patients with Alzheimer’s, we know that early detection, diagnosis and intervention offers the best promise for disease management which is why we must raise awareness of the signs, symptoms and impact this disease has on millions of Americans,” said Congressman Gus Bilirakis. “My family has coped with the devastating impacts of this horrific disease for more than a decade, so I understand the toll it takes on the patient and his or her loved ones as it progresses. We owe it to our fellow Americans to develop a system of care that prioritizes education, screening and assessment so that patients can enjoy the best possible quality of life.”

    “On behalf of the over 7 million Americans living with Alzheimer’s, thank you to Reps. Barragán, Buchanan, Bilirakis and Sánchez for recognizing June as Alzheimer’s & Brain Awareness Month and for your unwavering dedication to the Alzheimer’s community,” said Rachel Conant, Alzheimer’s Association senior vice president of public policy and AIM executive director. “Your commitment to bipartisan solutions is driving progress in the fight against this devastating disease.”

    The Alzheimer’s & Brain Awareness Month resolution is endorsed by the Alzheimer’s Association and Alzheimer’s Impact Movement (AIM).

    The full text of the legislation can be found here. 

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    MIL OSI USA News

  • MIL-OSI USA: Statement on the Senate Passing Trump’s ‘Big Ugly Bill’

    Source: US State of New York

    ??Today, Senate Republicans moved one step closer to ripping health care away from millions of Americans to pay for massive tax breaks for billionaires.

    “From North Country farmers to downstate hospitals, Trump’s ‘Big Ugly Bill’ would devastate New Yorkers. Over one million people in our state would lose their health care. A quarter million would see cuts to SNAP. Nursing homes will close. Food prices will rise. Hospitals will shutter. All during a national affordability crisis.

    “Every single New York Republican in Congress backed this disaster. They helped write it, cheered it on, and voted to gut the very programs that keep their constituents alive. The bill slashes Medicaid, axes clean energy tax credits, and guts SNAP.

    “I will do everything in my power to shield New Yorkers from the fallout. But if this bill becomes law, there will be real pain. And the Republicans who helped inflict it won’t be able to hide from the consequences. Not in Washington. Not in New York. Not ever.”

    MIL OSI USA News

  • MIL-OSI Security: Chicago Man Convicted of Conspiring to Provide Material Support to Foreign Terrorist Organization

    Source: US FBI

    CHICAGO — A Chicago man was convicted in federal court today of conspiring to provide material support to the Islamic State of Iraq and al-Sham (ISIS) by using social media to encourage attacks on ISIS’s enemies and recruit new ISIS members.

    ASHRAF AL SAFOO was a leader of Khattab Media Foundation, a sophisticated online organization that swore allegiance to ISIS and created and disseminated threats and ISIS propaganda on social media and other online platforms.  Al Safoo and other members of Khattab created and posted pro-ISIS videos, articles, essays, and infographics at the direction of, and in coordination with, ISIS.  Much of Khattab’s propaganda promoted violent jihad on behalf of ISIS, which has been designated by the United States government as a foreign terrorist organization.  In one posting, Al Safoo encouraged Khattab members to post pro-ISIS information “to cause confusion and spread terror within the hearts of those who disbelieved.”  In another posting, Al Safoo wrote, “Work hard, brothers, edit the issue into short clips, take the pictures out of it and publish the efforts of your brothers in the pages of the apostates.  Participate in the war, and spread terror, the [Islamic] State does not want you to watch it only, rather, it incites you, and if you are unable to, use it to incite others.”

    Many of Khattab’s postings included images of violence, celebrations of terrorist attacks and mass shootings in the United States, and encouragement for “lone wolf” attacks in western countries.

    Al Safoo, 41, was arrested in Chicago in 2018.  After a bench trial in U.S. District Court in Chicago in 2025, U.S. District Judge John Robert Blakey today announced his verdicts, finding Al Safoo guilty of one count of conspiracy to provide material support to a foreign terrorist organization, one count of conspiracy to transmit threats in interstate commerce, one count of conspiracy to intentionally access a protected computer without authorization, four counts of intentionally accessing a protected computer without authorization, and four counts of providing material support to a foreign terrorist organization.

    The convictions carry a maximum sentence of 130 years in federal prison.  Judge Blakey set sentencing for Oct. 9, 2025.

    The convictions were announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, John A. Eisenberg, Assistant Attorney General for National Security at the Department of Justice, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI.  The government is represented by Assistant U.S. Attorneys Melody Wells, Barry Jonas, and Thomas P. Peabody of the Northern District of Illinois, and Trial Attorney Andrew J. Dixon of the National Security Division’s Counterterrorism Section.

    “Today’s conviction demonstrates that the safety and security of the American public is always a top priority for me and my entire Office,” said U.S. Attorney Boutros.  “The prosecution of Ashraf Al Safoo is a testament to the vigilance and dedication of our prosecutors and law enforcement partners who stand watch to disrupt and prevent dangerous threats before they materialize.  We will vigorously pursue and bring to justice those who provide material support–in whatever form–to terrorist organizations.”

    “The conviction of Al Safoo affirms the FBI’s strong commitment to protecting and defending the United States from anyone who seeks to harm our citizens,” said FBI Chicago SAC DePodesta.  “Those who willingly associate with terrorist organizations or support violent extremism will be investigated, disrupted, and held accountable.  It is thanks to the FBI Chicago Joint Terrorism Task Force and its partner agencies that our community is safe from those who pose a fundamental threat to our nation.”

    MIL Security OSI

  • MIL-OSI USA: Ernst Celebrates Big Beautiful Win for Iowans

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa) released the following statement celebrating the passage of the One Big Beautiful Bill Act:
    “President Trump’s One Big Beautiful Bill delivers on what Iowans voted for in November, keeping more money in hardworking folks’ pockets, real border security, and a safer America,” said Ernst. “In addition to the largest tax cut in history for our families, farmers, and small businesses, the bill strengthens the integrity of Medicaid and prioritizes those who truly need help by eliminating waste, fraud, and abuse. I am proud to have fought to save $100 million for taxpayers over the next decade and eliminated unfair practices in the FAFSA process that held back farm families from investing in their child’s education. I will always fight to improve Iowans’ lives and continue to lead the charge in Washington to reduce reckless spending and put taxpayers first.”
    The Senate unanimously approved Ernst’s Ending Unemployment Payments to Jobless Millionaires Act that will disqualify anyone making a million dollars or more from being eligible for unemployment income support. It is estimated to save taxpayers up to $100 million over the next decade.
    Ernst’s Family Farm and Small Business Exemption Act was also included. It will ensure that Iowans will not have to sell off the farm, or their small business, to afford college by restoring the original exemption of all farmland, machinery, and other operational materials from being declared on the Free Application for Federal Student Aid (FAFSA) form.
    Ernst also provided certainty for Iowa farmers by raising reference prices to strengthen the farm safety net, improving foreign animal disease prevention, protecting access to affordable crop insurance, prioritizing domestic feedstocks to support biofuel producers, expanding trade opportunities, and permanently extending the death tax exemption to ensure family farms and small businesses can be passed down to the next generation. 
    Ernst was a leading voice in the fight to make the Trump tax cuts permanent to avoid a $4 trillion tax increase and empower small business owners and farmers to invest in themselves through provisions like bonus depreciation, 199-A, and the research and development deduction.
    After the Trump administration busted more than 300 criminals accused of $14.6 billion in health care fraud, Ernst emphasized how the One Big Beautiful Bill Act strengthens and preserves Medicaid for our most vulnerable Americans who need it by targeting waste, fraud, and abuse.

    MIL OSI USA News

  • MIL-OSI USA: Senator Markey Statement on Senate Passage of Draconian Republican Health Care, Clean Energy Cuts

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Senator Markey: “Senate Republicans abdicated their responsibility to the American people.”
    Washington (July 1, 2025) – Senator Edward J. Markey (D-Mass.) today released the following statement after Republicans voted to pass H.R. 1, Donald Trump’s so-called “Big Beautiful Bill.” The bill now heads to the House of Representatives for consideration.
    “Today, Senate Republicans abdicated their responsibility to the American people. They acted in service to Trump and billionaires while pursuing the largest cuts to health care, food security, and climate and clean energy in United States history. If these cuts pass into law and even one child goes hungry, one worker loses their job, or one person cannot get lifesaving care, the burden falls on Republicans for their record-setting cruelty.
    “People’s lives and livelihoods should not be treated as expendable. Hospitals, nursing homes, and community health centers should not be forced into financial emergency rooms. Families should not be poisoned by pollution or shoulder higher energy costs, and communities should not be left defenseless against the worsening climate crisis.
    “The fight is not over, but time is running out and inaction will cost lives. That’s why we cannot agonize – we must organize. As this Big Ugly Bill heads to the House of Representatives, we all need to continue to raise our voices even louder to stop Trump and Republicans from tearing health care, food assistance, and a livable future away from millions of Americans.”

    MIL OSI USA News

  • MIL-OSI USA: After Weeks of Markey Raising the Alarm, Senate Strikes AI Moratorium from Budget Reconciliation Bill Overnight in Overwhelming 99-1 Vote

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Washington (July 1, 2025) – Overnight, the U.S. Senate voted 99-1 in favor of an amendment co-sponsored by Senator Edward J. Markey (D-Mass.), member of the Commerce, Science, and Transportation Committee, Senator Maria Cantwell (D-Wash.), Ranking Member of the Senate Committee on Commerce, Science and Transportation, and Senator Marsha Blackburn (R–Tenn.) to strip a ten-year moratorium on state AI regulations from the Republican budget reconciliation bill.
    “Early this morning, the Senate overwhelmingly voted to reject a dangerous provision to block states from regulating artificial intelligence, including protecting kids online. This 99-1 vote sent a clear message that Congress will not sell out our kids and local communities in order to pad the pockets of Big Tech billionaires. I am proud to have partnered with Ranking Member Cantwell and Senator Blackburn on an amendment to strip this dangerous language, and I look forward to working with my colleagues to develop responsible guardrails for AI,” said Senator Markey.
    For weeks, Senator Markey raised alarms over the provision which would have forced states to make an impossible choice between enforcing AI consumer protections or accepting federal BEAD funding to expand broadband access. Despite several revisions by its author and misleading assurances about its true impact, state officials from across the country, including 17 Republican Governors and 40 state Attorneys General, as well conservative and liberal organizations – from the Heritage Foundation to the Center for American Progress – rallied against the harmful proposal.
    On June 30, Senator Markey introduced an amendment with Senator Cantwell to strip the entire provision prior to introducing the same amendment with Senator Cantwell and Senator Blackburn on July 1. On June 10, Senator Markey announced his plans to file an amendment to the Senate reconciliation bill to block Republicans’ attempt to prevent states from regulating artificial intelligence (AI) for the next 10 years. On June 4, Senator Markey convened a virtual roundtable with advocates to discuss the impacts this ban would have on communities across the country. On June 3, Senator Markey delivered remarks on the Senate floor opposing the provision in the House-passed reconciliation bill that would prevent states from regulating AI for the next ten years.
    Senator Markey is the author of the Artificial Intelligence (AI) Civil Rights Act, the most comprehensive AI civil rights legislation introduced in Congress. The legislation would put strict guardrails on companies’ use of algorithms for consequential decisions, ensure algorithms are tested before and after deployment, help eliminate and prevent bias, and renew Americans’ faith in the accuracy and fairness of complex algorithms.

    MIL OSI USA News