NewzIntel.com

Category: Vehicles

  • MIL-OSI Security: Big River  — Have you seen this stolen flat deck trailer?

    Source: Royal Canadian Mounted Police

    The Chaleur Region RCMP is seeking the public’s help locating a stolen flat deck trailer in Big River, N.B.

    The theft is believed to have occurred sometime in the overnight hours of October 28, 2024, at an open field near Route 430 and Highway 11 in Big River.

    The flat deck trailer is described as a beige 1984 Travel Taurus, with New Brunswick licence plate TAS 688, and vehicle identification number 27129.

    If you have seen the trailer since October 28, or if you have information that could help further the investigation, please contact the Chaleur Region RCMP at 506-548-7771. Information can also be provided anonymously through Crime Stoppers at 1-800-222-TIPS (8477), by downloading the secure P3 Mobile App, or by Secure Web Tips at www.crimenb.ca.

    MIL Security OSI –

  • MIL-OSI Security: Teenager convicted of murdering woman in Hackney

    Source: United Kingdom London Metropolitan Police

    A teenager has been convicted of the murder of Lianne Gordon in Hackney.

    Lianne Gordon was sheltering behind her front door at home when she was shot and killed on 5 December 2023. While she might not have been the intended target, we know that her needless death was a consequence of a gang dispute.

    A 17-year-old boy [A] appeared at the Old Bailey where, following trial, he was convicted on Wednesday, 30 October, of the murder of Lianne Gordon.

    He was also found guilty of affray, possession of a firearm with intent to endanger life, possession of a bladed article and two counts of attempted murder, He had earlier pleaded guilty to possession with intent to supply class A drugs.

    He will be sentenced at the same court on Monday, 2 December.

    The court heard that police were called at 18:28hrs on Tuesday, 5 December 2023, to reports of a shooting outside an address in Vine Close, E5. Officers and paramedics from the London Ambulance Service attended and found three people with gunshot wounds.

    Despite the efforts of the emergency services to save her, Lianne Gordon, 42, sadly died at the scene.

    Two other people, a 20-year-old man and a 16-year-old boy, were taken to hospital for treatment to injuries that were not life threatening.

    The defendant was arrested at his home address on 8 December 2023.

    Officers searched his home address and recovered Class A drugs, a machete, a ‘burner phone’ and drug paraphernalia.

    A search of his IT equipment showed that, after he returned home from the shooting, he conducted 65 searches on news sites and social media relating to a ‘fatal shooting in Hackney’ and ‘Lianne Gordon’. He was charged with murder on 9 December 2023 and remanded in custody.

    Footage seized by officers also showed the defendant approaching the two male victims as they stood outside Lianne Gordon’s home on Vine Close. He fired shots at them both as they attempted to hide behind parked cars.

    It was at this point that Lianne, realising she was in danger, attempted to close the door, but the teenager was able to shoot her before she could do so. That single shot ended her life and a post-mortem examination confirmed that Lianne had died from a gunshot wound to the head.

    Forensic officers recovered shell casings from the scene and ballistic scientific testing confirmed that the gun that was used in Lianne’s murder was also used in an incident on 2 December 2023 where shots were fired close to the entrance to Vine Close. On that occasion there were no reported injuries.

    A glove was found in a search of the 17-year-old’s home address. This had his DNA and firearm residue on it, linking him to the fatal shooting.

    Officers would later seize song lyrics, composed by the defendant in his cell, that were a self-congratulating outline of the murder and the shootings.

    Detective Chief Inspector Joanna Yorke who led the investigation said: “The defendant was a known gang member with previous involvement in drugs and violence. Lianne Gordon was a mother of two who was shot dead for reasons we may never know or fathom.

    “I am pleased that the murderer will face the consequences of his actions, but also that he will spend years of his life in a place where he can no longer pose a threat to the community.

    “While nothing can bring Lianne back, I sincerely hope that today’s verdict brings some comfort to her loved ones.”

    A/Ch Supt Brigid Beehag-Fisher, responsible for policing in Hackney and Tower Hamlets said: “I welcome today’s result which has brought justice to the family of Lianne Gordon. Whilst this verdict will not bring back a mother to her family, it does bring some closure to her family, friends and the local community who have been impacted by this tragic event.

    “We are committed to tackling gun crime and serious violence across London and today’s verdict is testament to the hard work of the team taking violent and dangerous individuals off the streets and protecting our local communities.

    “If you know someone who is carrying a weapon or involved with serious violence, I ask you to come forward to the police or via the independent charity Crimestoppers to prevent another tragedy like this from happening again.”

    MIL Security OSI –

  • MIL-OSI Europe: Answer to a written question – European manufacturers fined for insufficient electric vehicle sales – E-001669/2024(ASW)

    Source: European Parliament

    The 2025 CO2 emission reduction targets for cars and vans were agreed by co-legislators and set in legislation in 2019[1], and they remained unchanged during the 2023 revision, providing manufacturers with sufficient time to develop compliance strategies.

    The CO2 standards are designed to drive a gradual transition towards zero-emission mobility, and the 2025 milestone does not require full electrification.

    More affordable electric vehicles, which have been announced by several manufacturers for 2025, can support a faster uptake of the technology. Other technologies can also contribute to reaching the targets, such as hybrids, plug-in hybrids or improvements in conventional vehicles. In addition, deploying smaller and more efficient vehicles can also contribute to reaching the CO2 targets.

    The CO2 standards allow for stepwise improvements of the fleet average CO2 emissions. The previous standards were characterised by stagnating performances, followed by a significant reduction of CO2 emissions in 2020, as soon as the more stringent targets started to apply.

    Some manufacturers argue that it would create competitive distortion to change the rules after they have invested to comply with them. With the rise in global market demand for electric vehicles[2], it is necessary to continue driving investments in technologies, infrastructure, skills and development of new value chains, in order to strengthen the competitive position of EU industry in the global transition towards zero-emission mobility.

    In this context, it appears premature to draw conclusions on companies’ 2025 compliance situation at this stage.

    • [1] (Regulation (EU) 2019/631).
    • [2] Executive summary — Global EV (electric vehicle) outlook 2024: https://www.iea.org/reports/global-ev-outlook-2024/executive-summary
    Last updated: 30 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: REPORT on the draft Council directive on Faster and Safer Relief of Excess Withholding Taxes – A10-0011/2024

    Source: European Parliament

    DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

    on the draft Council directive on Faster and Safer Relief of Excess Withholding Taxes

    (09925/2024 – C10‑0002/2024 – 2023/0187(CNS))

    (Special legislative procedure – renewed consultation)

    The European Parliament,

    – having regard to the Council draft (09925/2024),

    – having regard to the Commission proposal to the Council (COM(2023)0324),

    – having regard to its position of 28 February 2024[1],

    – having regard to Article 115 of the Treaty on the Functioning of the European Union , pursuant to which the Council consulted Parliament again (C10‑0002/2024),

    – having regard to Rule 84 and 86 of its Rules of Procedure,

    – having regard to the report of the Committee on Economic and Monetary Affairs (A10-0011/2024),

    1. Approves the Council draft;

    2. Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

    3. Asks the Council to consult Parliament again if it intends to substantially amend the text approved by Parliament;

    4. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

    EXPLANATORY STATEMENT

    On 28 July 2023, the Council consulted the Parliament on a proposal for a Council Directive on Faster and Safer Relief of Excess Withholding Taxes[2].

    The Parliament delivered its opinion on 28 February 2024[3].

    On 14 May 2024, the Council reached a general approach on the draft Directive[4].

    However, given fundamental differences between the 19 June 2023 text of the Commission on which the Parliament was initially consulted and the text unanimously agreed in Council, the latter decided to re-consult the Parliament.

    According to the agreed text by the Council, the directive will introduce a common EU digital tax residence certificate (eTRC) and two fast-track procedures complementing the existing standard refund procedure for withholding taxes, as proposed by the Commission. However, the deadlines for the issuance of the eTRC and the quick refund system have been prolonged, making the tax relief ‘less fast’ than originally foreseen by the Commission’s proposal.

    A key change is the exemption provided to Member States who already have a comprehensive relief-at-source system in place and who have a relatively small financial market, i.e. when their market capitalisation ratio is below a threshold of 1,5% (as reported by ESMA).

    The Directive further introduces a reporting obligation for financial intermediaries, who will have to register in national registers established pursuant to this Directive in order to be able to request the fast-track procedures. The Council agreed to create a European Certified Financial Intermediary Portal to simplify the procedure.

    Finally, the Council agreement extends the original deadline for the entry into force of 1 January 2027, as foreseen by the Commission’s proposal, to 1 January 2030.

    In its letter requesting re-consultation, the Council is asking the Parliament to deliver its opinion as soon as possible and by 31 January 2024 at the latest. This is because Member States want to start working, together with tax authorities, the Commission and business stakeholders, on implementing acts. These implementing acts should, for instance, lay down standard computerised forms, including the linguistic arrangements, and technical protocols, including security standards, for the EU-wide eTRC.

    The text agreed in the Council, although not fully in line with the EP opinion, still introduces a faster tax relief process compared to the current situation. The introduction of an electronic tax residency certificate (eTRC) was supported by the Parliament, Council, and the Commission.

    Overall, the deal struck by the Council is not only a step in the right direction towards facilitating cross-border investments and completing the Capital Markets Union (CMU). It also introduces some important measures to detect potential tax fraud or abuse in relation with withholding taxes.

    However, it is regrettable that the Council decided to postpone the entry into force until 2030, given the current importance of the completion of the CMU, as recently highlighted by the reports by Mario Draghi and Enrico Letta. In view of legal certainty and citizens’ interest to have a faster withholding tax refunding process, the Council should adopt quickly the COM(2023)0324 proposal on Faster and Safer Relief of Excess Withholding Taxes.

    Taking into account the time needed to transpose the Directive in Member States’ legislation and the political will to speed up its adoption, your rapporteur proposes that Parliament approves the proposal without amendments pursuant to a simplified procedure without amendments (rule 52).

     

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

    The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

     

     

    PROCEDURE – COMMITTEE RESPONSIBLE

    Title

    Faster and Safer Relief of Excess Withholding Taxes

    References

    09925/2024 – C10-0002/2024 – COM(2023)0324 – C9-0204/2023 – 2023/0187(CNS)

    Date Parliament was consulted

    28.7.2023

     

     

     

    Committee(s) responsible

    ECON

     

     

     

    Rapporteurs

     Date appointed

    Herbert Dorfmann

    12.9.2024

     

     

     

    Simplified procedure – date of decision

    14.10.2024

    Discussed in committee

    14.10.2024

     

     

     

    Date adopted

    14.10.2024

     

     

     

    Date tabled

    22.10.2024

     

     

    MIL OSI Europe News –

  • MIL-OSI USA: The Marshall Star for October 30, 2024

    Source: NASA

    Editor’s Note: Starting Nov. 4, the Office of Communications at NASA’s Marshall Space Flight Center will no longer publish the Marshall Star on nasa.gov. The last public issue will be Oct. 30. To continue reading Marshall news, visit nasa.gov/marshall.

    Blake Stewart, lead of the Thrust Vector Control Test Laboratory inside Building 4205 at NASA’s Marshall Space Flight Center, explains how his team tests the mechanisms that steer engine and booster nozzles of NASA’s SLS (Space Launch System) rocket to a group of Marshall team members Oct. 24. The employees were some of the more than 500 team members who viewed progress toward future Artemis flights on bus tours offered by the SLS Program. Building 4205 is also home to the Propulsion Research and Development Laboratory that includes 26 world-class labs and support areas that help the agency’s ambitious goals for space exploration. The Software Integration Lab and the Software Integration Test Facility are among the labs inside supporting SLS that employees visited on the tour. (NASA/Sam Lott)

    A group of Marshall team members gather below the development test article for the universal stage adapter that will be used on the second variant of SLS, called Block 1B. The universal stage adapter is located inside one of the high bays in building 4619. The universal stage adapter will connect the Orion spacecraft to the SLS exploration upper stage. With the exploration upper stage, which will be powered by four RL10-C3 engines, SLS will be capable of lifting more than 105 metric tons (231,000 pounds) from Earth’s surface. This extra mass capability enables SLS to send multiple large payloads to the Moon on the same launch. (NASA/Sam Lott)

    Marshall team members view the Orion Stage Adapters for the Artemis II and Artemis III test flights inside Building 4708. The Orion Stage Adapter, built at Marshall, connects the rocket’s interim cryogenic propulsion stage to the Orion spacecraft. The Orion Stage Adapter for Artemis II is complete and ready to be shipped to Kennedy Space Center. The Oct. 24 tours featured four stops that also included opportunities to see the Artemis III launch vehicle stage adapter, and the development test article for the SLS Block 1B universal stage adapter that will begin flying on Artemis IV. Additionally, programs and offices such as the Human Landing Systems Development Office and the Science and Technology Office hosted exhibits in the lobby of Building 4220, where employees gathered for the tours. (NASA/Jonathan Deal)
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    By Serena Whitfield
    In conjunction with National Disability Employment Awareness Month, NASA’s Marshall Space Flight Center held anagencywide virtual event hosted by the Office of Diversity and Equal Opportunity on Oct. 24.
    Marshall team members watched the Webex event in Building 4221.

    In alignment with the month’s national theme, “Access to Good Jobs for All,” the program highlighted the perspectives of people with disabilities in the workplace as they navigate the work lifecycle – from applying, to onboarding, career growth and advancement, and day-to-day engagements.
    The event began with Marshall Associate Director Roger Baird welcoming NASA team members.
    “NASA is dedicated to inclusive hiring practices and providing pathways for good jobs and career success for all employees, including workers with disabilities,” Baird said. “Some ways we do this is through targeted recruitment of qualified individuals with disabilities through accessible vacancy announcements, outreach to students with disabilities, and community partnerships.”
    NASA also utilizes Schedule A Authority, a non-competitive Direct Hiring Authority to hire people with disabilities without competition.
    Baird introduced event moderator Joyce Meier, logistics manager at Marshall, who welcomed panelists Casey Denham, Kathy Clark, Paul Spann, and Paul Sullivan, all NASA team members. The panelists from the disability community discussed their work lifecycles, lessons learned in the workplace, and shared a demonstration on colorblindness and its impact.
    Denham discussed some of the best practices for onboarding employees with neurodiversity, a term used to describe people whose brains develop or work differently than the typical brain.

    Clark talked about what can be done to continue raising awareness and advocating for disability rights. She said NASA empowers its workforce with knowledge so they can be informed allies to team members with disabilities and foster a safe and inclusive working environment. 
    Spann gave insight into practical steps employers can take to accommodate candidates with deafness, and Sullivan spoke about some key considerations NASA managers should keep in mind to make the job application process more accessible to candidates with low vision.
    Guest speaker Chip Dobbs, supply management specialist at Marshall, talked about his personal experiences with being deaf. Dobbs has worked at NASA for 29 years and said he has never let his disability hold him back, but instead uses it as a gateway to inspire and connect with others.
    The event ended with closing remarks from Tora Henry, director of the Office of Diversity and Equal Opportunity at Marshall. The virtual event placed importance on planning for NASA’s future by promoting equality and addressing the barriers people with disabilities face in the workplace. 
    “As we celebrate National Disability Employment Awareness Month, keep in mind that NASA’s mission of exploring the unknown and pushing the boundaries of human potential requires the contributions of every mind, skill set, and perspective,” Baird said. “Our commitment to inclusivity ensures that no talent goes untapped, and no idea goes unheard because together, we’re not just reaching for the stars, we’re showing the world what’s possible when everyone has a seat at the table.”
    A recording of the event is available here. Learn more about NASA’s agencywide resources for individuals with disabilities as well as the agency’s Disability Employment Program.
    Whitfield is an intern supporting the Marshall Office of Communications.
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    By Wayne Smith
    Farley Davis, manager of the Environmental Engineering and Occupational Health Office at NASA’s Marshall Space Flight Center, has received a 2024 Blue Marble Award from the agency.
    NASA’s Office of Strategic Infrastructure, Environmental Management Division presented the 2024 Blue Marble Awards on Oct. 8 at the agency’s Johnson Space Center. The Blue Marble Awards Program recognizes teams and individuals demonstrating exceptional environmental leadership in support of NASA’s missions and goals. In 2024, the awards included five categories: the Director’s Award, Environmental Quality, Excellence in Energy and Water Management, Excellence in Resilience or Climate Change Adaptation, and new this year: Excellence in Site Remediation. 

    Davis was recognized for “exceptional leadership and outstanding commitment above and beyond individual job responsibilities, to assist Marshall and the agency in enabling environmentally sound mission success.”
    “The award was unexpected, and I am very thankful to receive the Environmental Management Director’s Blue Marble Award,” said Davis, who has been at Marshall for 33 years. “Collectively, Marshall’s environmental engineering team has made this award possible with their diligent support for many years keeping the center’s environmental compliance at the forefront. I will cherish the award for the rest of my life.”
    June Malone, director of the Office of Center Operations at Marshall, credited Davis for his environmental leadership and mentoring team members.
    “Farley’s attitude of professionalism and personal responsibility for the development and implementation of well-grounded environmental programs has increased Marshall’s sustainability and prevented pollution,” Malone said. “His tireless leadership has resulted in compliance with federal, state, and local environmental laws and regulations, and his creative solution-oriented approaches to environmental stewardship have restored contaminated areas.”
    Charlotte Bertrand, director of the Environmental Management Division at NASA Headquarters, said it was an honor to select Davis for the 2024 Blue Marble Director’s Award.
    “Farley’s incredibly distinguished career with NASA reflects the award’s intention to recognize exceptional leadership by an individual in assisting the agency in enabling environmentally sound mission success,” Bertrand said.
    Please see the awards program for additional information.
    Smith, a Media Fusion employee and the Marshall Star editor, supports the Marshall Office of Communications.
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    By Wayne Smith
    When human exploration of Mars becomes a reality and more than just the stuff of science fiction, Brooke Rhodes will be eager to investigate what astronauts discover on the Red Planet.
    From listening to her talk about her work as an engineer at NASA’s Marshall Space Flight Center, it’s easy to grasp her excitement about the future of human space exploration and NASA’s Moon to Mars architecture.

    “I can’t wait for the Mars rovers to have some human company,” said Rhodes, who recently began a detail as the chief of Marshall’s Avionics and Software Ground Systems Test Branch. “I need to know if we can grow Mark Watney (of The Martian movie fame) quantities of potatoes up there. Everything we do to prepare to return humans to the Moon and establish a presence in deep space is building toward putting boots on Mars. It’s an honor and a privilege to be even a small part of it.”
    Rhodes also appreciates the responsibility she takes on in any form in NASA’s exploration missions to benefit humanity. After all, she has worked on hardware for the International Space Station and has had supporting roles for the Mars Ascent Vehicle and Artemis missions.
    “We at Marshall hold an incredible amount of responsibility: responsibility for the welfare of the crew on the space station, responsibility for the welfare of the crew on the Artemis missions, and even the welfare of humanity through the responsibility we have for science on the station and elsewhere,” said Rhodes, who is from Petal, Mississippi, and has worked at Marshall for seven years. “When your missions are as critical as ours, it’s nearly impossible to not be motivated.”
    Now, on to Mars.
    Question: What is your position and what are your primary responsibilities?
    Rhodes: I recently began the detail as the branch chief of the Avionics and Software Ground Systems Test Branch, ES53. Our branch is primarily responsible for the development of hardware-in-the-loop and software development facilities for the Artemis and MAV (Mars Ascent Vehicle) missions. My home organization is ES61, the Instrument Development, Integration and Test Branch, where I’ve been responsible for the integration and testing of International Space Station payloads for the past several years.

    Question: What has been the proudest moment of your career and why?
    Rhodes: One really cool moment that sticks out was the first time I saw hardware I had been responsible for being used in space. I spent several years as the integration and test lead of the Materials Science Research Rack (MSRR) Sample Cartridge Assemblies (SCAs) and we shipped our first batch of SCAs to the space station in 2018. That shipment was the culmination of years of intense effort and teamwork, so to see them onboard and about to enable materials science was an incredible feeling. There was a moment in particular that felt a bit surreal: prior to our SCA shipment the crew discovered they were missing a couple of fasteners from the onboard furnace, so we had those shipped to us from Europe and I packed them into the SCA flight foam before they shipped to the launch site. The next time I saw those fasteners they were being held up to a camera by one of the crew members, asking if those were the ones they needed for the furnace. Putting fasteners into foam didn’t take much effort, but what it represented was much bigger: being a small part of an international effort to enable science off the Earth, for the Earth, was an incredible moment I’ll carry with me for the rest of my career.
    Question: Who or what inspired you to pursue an education/career that led you to NASA and Marshall?
    Rhodes: I had a couple of lightbulb moments my junior year of high school that eventually set me on my current career path. I very specifically recall sitting in my physics I class and learning how to calculate the planetary motion of Jupiter and thinking I had never learned about anything cooler. Even then, though, NASA didn’t really enter my thoughts. Growing up, working for NASA didn’t even occur to me as something people could actually do – being a “rocket scientist” was just an abstract concept people threw around to indicate something was difficult.
    That changed later when the same teacher who had been teaching us planetary motion took us on a field trip to Kennedy Space Center. The tour guide showing us around the Vehicle Assembly Building was a young employee who said he had majored in aerospace engineering at the University of Tennessee. That was the second lightbulb moment: here was a young person from the Southeast, just like me, who had done something tangible in order to work for NASA. That seemed easy enough, so I decided to major in aerospace engineering at Mississippi State and one day work for NASA. That turned out to not be easy, but definitely doable.
    While at Mississippi State, I was able to complete three NASA internships, one at the Jet Propulsion Laboratory and two at Marshall. Eventually, I was hired on full-time at NASA’s Johnson Space Center, but wound up making my way back to Marshall, where I’ve been ever since. There’s no place on the planet better for enthusiasts of both aerospace engineering and football.

    Interestingly, my physics I teacher’s name was Mrs. Rhodes, and I used to joke with my classmates that I wanted to be Mrs. Rhodes when I grew up. I didn’t actually mean that literally, but then I married Matthew Rhodes and did, indeed, become Mrs. Rhodes.
    Question: What advice do you have for employees early in their NASA career or those in new leadership roles?
    Rhodes: Scary is good. If you aren’t stepping out of your comfort zone you probably aren’t growing, and if you’re experiencing imposter syndrome, you’re probably the right person for the job.
    Question: What do you enjoy doing with your time while away from work?
    Rhodes: While away from work I tend to invest too much of my mental wellbeing into football. To recover from the stresses of work and my football teams being terrible, I like to explore National Parks. The U.S. has some of the most diverse scenery anywhere in the world, and I love getting outside and exploring it.
    Smith, a Media Fusion employee and the Marshall Star editor, supports the Marshall Office of Communications.
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    Most stars form in collections, called clusters or associations, that include very massive stars. These giant stars send out large amounts of high-energy radiation, which can disrupt relatively fragile disks of dust and gas that are in the process of coalescing to form new planets.
    A team of astronomers used NASA’s Chandra X-ray Observatory, in combination with ultraviolet, optical, and infrared data, to show where some of the most treacherous places in a star cluster may be, where planets’ chances to form are diminished.

    The target of the observations was Cygnus OB2, which is the nearest large cluster of stars to our Sun – at a distance of about 4,600 light-years. The cluster contains hundreds of massive stars as well as thousands of lower-mass stars. The team used long Chandra observations pointing at different regions of Cygnus OB2, and the resulting set of images were then stitched together into one large image.
    The deep Chandra observations mapped out the diffuse X-ray glow in between the stars, and they also provided an inventory of the young stars in the cluster. This inventory was combined with others using optical and infrared data to create the best census of young stars in the cluster.
    In a new composite image, the Chandra data (purple) shows the diffuse X-ray emission and young stars in Cygnus OB2, and infrared data from NASA’s now-retired Spitzer Space Telescope (red, green, blue, and cyan) reveals young stars and the cooler dust and gas throughout the region.
    In these crowded stellar environments, copious amounts of high-energy radiation produced by stars and planets are present. Together, X-rays and intense ultraviolet light can have a devastating impact on planetary disks and systems in the process of forming.
    Planet-forming disks around stars naturally fade away over time. Some of the disk falls onto the star and some is heated up by X-ray and ultraviolet radiation from the star and evaporates in a wind. The latter process, known as “photoevaporation,” usually takes between five and 10 million years with average-sized stars before the disk disappears. If massive stars, which produce the most X-ray and ultraviolet radiation, are nearby, this process can be accelerated.
    The researchers using this data found clear evidence that planet-forming disks around stars indeed disappear much faster when they are close to massive stars producing a lot of high-energy radiation. The disks also disappear more quickly in regions where the stars are more closely packed together.
    For regions of Cygnus OB2 with less high-energy radiation and lower numbers of stars, the fraction of young stars with disks is about 40%. For regions with more high-energy radiation and higher numbers of stars, the fraction is about 18%. The strongest effect – meaning the worst place to be for a would-be planetary system – is within about 1.6 light-years of the most massive stars in the cluster.
    A separate study by the same team examined the properties of the diffuse X-ray emission in the cluster. They found that the higher-energy diffuse emission comes from areas where winds of gas blowing away from massive stars have collided with each other. This causes the gas to become hotter and produce X-rays. The less energetic emission probably comes from gas in the cluster colliding with gas surrounding the cluster.
    Two separate papers describing the Chandra data of Cygnus OB2 are available. The paper about the planetary danger zones, led by Mario Giuseppe Guarcello (National Institute for Astrophysics in Palermo, Italy), appeared in the November 2023 issue of the Astrophysical Journal Supplement Series, and is available here. The paper about the diffuse emission, led by Juan Facundo Albacete-Colombo (University of Rio Negro in Argentina) was published in the same issue of Astrophysical Journal Supplement, and is available here.
    NASA’s Marshall Space Flight Center manages the Chandra program. The Smithsonian Astrophysical Observatory’s Chandra X-ray Center controls science operations from Cambridge, Massachusetts, and flight operations from Burlington, Massachusetts.
    NASA’s Jet Propulsion Laboratory (JPL) managed the Spitzer Space Telescope mission for the agency’s Science Mission Directorate until the mission was retired in January 2020. Science operations were conducted at the Spitzer Science Center at Caltech. Spacecraft operations were based at Lockheed Martin Space in Littleton, Colorado. Data are archived at the Infrared Science Archive operated by IPAC at Caltech. Caltech manages JPL for NASA.
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    NASA recently evaluated initial flight data and imagery from Pathfinder Technology Demonstrator-4 (PTD-4), confirming proper checkout of the spacecraft’s systems including its on-board electronics as well as the payload’s support systems such as the small onboard camera. Shown is a test image of Earth taken by the payload camera, shortly after PTD-4 reached orbit. This camera will continue photographing the technology demonstration during the mission. 

    Payload operations are now underway for the primary objective of the PTD-4 mission – the demonstration of a new power and communications technology for future spacecraft. The payload, a deployable solar array with an integrated antenna called the Lightweight Integrated Solar Array and anTenna, or LISA-T, has initiated deployment of its central boom structure. The boom supports four solar power and communication arrays, also called petals. Releasing the central boom pushes the still-stowed petals nearly three feet away from the spacecraft bus. The mission team currently is working through an initial challenge to get LISA-T’s central boom to fully extend before unfolding the petals and beginning its power generation and communication operations.
    Small spacecraft on deep space missions require more electrical power than what is currently offered by existing technology. The four-petal solar array of LISA-T is a thin-film solar array that offers lower mass, lower stowed volume, and three times more power per mass and volume allocation than current solar arrays. The in-orbit technology demonstration includes deployment, operation, and environmental survivability of the thin-film solar array.  
    “The LISA-T experiment is an opportunity for NASA and the small spacecraft community to advance the packaging, deployment, and operation of thin-film, fully flexible solar and antenna arrays in space. The thin-film arrays will vastly improve power generation and communication capabilities throughout many different mission applications,” said John Carr, deputy center chief technologist at NASA’s Marshall Space Flight Center. “These capabilities are critical for achieving higher value science alongside the exploration of deep space with small spacecraft.”

    [embedded content]
    NASA teams are testing a key technology demonstration known as LISA-T, short for the Lightweight Integrated Solar Array and anTenna. It’s a super compact, stowable, thin-film solar array that when fully deployed in space, offers both a power generation and communication capability for small spacecraft. LISA-T’s orbital flight test is part of the Pathfinder Technology Demonstrator series of missions. (NASA)

    The Pathfinder Technology Demonstration series of missions leverages a commercial platform which serves to test innovative technologies to increase the capability of small spacecraft. Deploying LISA-T’s thin solar array in the harsh environment of space presents inherent challenges such as deploying large highly flexible non-metallic structures with high area to mass ratios. Performing experiments such as LISA-T on a smaller, lower-cost spacecraft allows NASA the opportunity to take manageable risk with high probability of great return. The LISA-T experiment aims to enable future deep space missions with the ability to acquire and communicate data through improved power generation and communication capabilities on the same integrated array.
    The PTD-4 small spacecraft is hosting the in-orbit technology demonstration called LISA-T. The PTD-4 spacecraft deployed into low Earth orbit from SpaceX’s Transporter-11 rocket, which launched from Space Launch Complex 4E at Vandenberg Space Force Base in California on Aug. 16. Marshall designed and built the LISA-T technology as well as LISA-T’s supporting avionics system. NASA’s Small Spacecraft Technology program, based at NASA’s Ames Research Center and led by the agency’s Space Technology Mission Directorate, funds and manages the PTD-4 mission as well as the overall Pathfinder Technology Demonstration mission series. Terran Orbital Corporation of Irvine, California, developed and built the PTD-4 spacecraft bus, named Triumph.
    › Back to Top

    By Paola Pinto
    For more than two decades, the NASA Short-term Prediction Research and Transition Center (SPoRT) within the NASA Earth Science Office at Marshall Space Flight Center has been at the forefront of developing and maintaining decision-making tools for meteorological predictions.

    Jonathan Brazzell, a service hydrologist at the National Weather Service (NWS) office in Lake Charles, Louisiana, highlighted a recent example of SPoRT’s impact while he was doing forecasting for Texas streams.
    Brazzell, who manages the South Texas and South Louisiana regions, emphasized the practical applications and significant impacts of the Machine Learning model developed by NASA SPoRT to predict future stream heights, known as the SPoRT Streamflow A.I. During a heavy rainfall event this past spring, he noted the challenge of forecasting flooding beyond 48 hours. SPoRT has worked closely with the NWS offices to develop a machine learning tool capable of predicting river flooding beyond two days and powered by the SPoRT Land Information System.
    “Previously, we relied on actual gauge information and risk assessments based on predicted precipitation,” Brazzell said. “Now, with this machine learning, we have a modeling tool that provides a much-needed predictive capability.”
    During forecasted periods of heavy precipitation from early to mid-May, Brazzell monitored potential flooding events and their magnitude using NASA SPoRT’s Streamflow-AI, which provided essential support to the Pine Island Bayou and Big Cow Creek communities in south Texas.
    Streamflow A.I. enabled local authorities to provide advance notice, allowing residents to prepare adequately for the event. Due to the benefit of three to seven-day flood stage predictions, the accurate forecasts helped county officials decide on road closures and evacuation advisories; community officials advised residents to gather a seven-day supply of necessities and relocate their vehicles, minimizing disruption and potential damage.
    Brazzell highlighted specific instances where the machine learning outputs were critical. For example, during the event that peaked around May 6, Streamflow A.I. accurately predicted the rise in stream height, allowing for timely road closures and advisories. These predictions were shared with county officials and were pivotal in their decision-making process.

    Brazzell shared that integrating SPoRT’s machine learning capabilities with their existing tools, such as flood risk mapping, proved invaluable. Although the machine learning outputs had been operational for almost two years after Hurricane Harvey, this season has provided their first significant applications in real-time scenarios due to persistent conditions of below-normal precipitation and ongoing drought.
    He also mentioned the broader applications of Streamflow A.I., including its potential use in other sites beyond those currently being monitored. He expressed interest in expanding the use of machine learning stream height outputs to additional locations, citing the successful application in current sites as a compelling reason for broader implementation.
    NASA SPoRT users’ experiences emphasize how crucial advanced prediction technologies are in hydrometeorology and emergency management operations. Based on Brazzell’s example, it is reasonable to say that the product’s ability to provide accurate, timely data greatly improves decision-making processes and ensures public safety. The partnership between NASA SPoRT and operational agencies like NOAA/NWS and county response teams demonstrates how research and operations can be seamlessly integrated into everyday practices, making a tangible difference in communities vulnerable to high-impact events.
    As the Streamflow A.I. product continues to evolve and expand its applications, it holds significant promise for improving disaster preparedness and response efforts across various regions that experience different types of flooding events.
    The Streamflow-AI product provides a 7-day river height or stage forecasts at select gauges across the south/eastern U.S. You can find the SPoRT training item on Streamflow-AI here.
    Pinto is a research associate at the University of Alabama in Huntsville, specializing in communications and user engagement for NASA SPoRT.
    › Back to Top

    NASA has selected All Native Synergies Company of Winnebego, Nebraska, to provide custodial and refuse collection services at the agency’s Marshall Space Flight Center.

    The Custodial and Refuse Collection Services III contract is a firm-fixed-price contract with an indefinite-delivery/indefinite-quantity provision. Its maximum potential value is approximately $33.5 million. The performance period began Oct. 23 and will extend four and a half years, with a one-year base period, four one-year options, and a six-month extension.
    This critical service contract provides custodial and refuse collection services for all Marshall facilities. Work under the contract includes floor maintenance, including elevators; trash removal; cleaning drinking fountains and restrooms; sweeping, mopping, and cleaning building entrances and stairways.
    › Back to Top

    MIL OSI USA News –

  • MIL-OSI NGOs: Hurricane Unpreparedness in the Caribbean, Disaster by Imperial Design

    Source: Council on Hemispheric Affairs –

    St. Lucia during and post Hurricane Beryl

    by Tamanisha J. John

    Toronto, Ontario

    Whenever a hurricane hits in the Caribbean, people rush to point out that it is an indicator of “disaster capitalism” and/or that “disaster capitalism” will surely come. While I agree that non-governmental organizations (NGO) and other organizations profit from disasters in the Caribbean region, and have a long history of doing so, I am less inclined to believe that “disaster capitalism” exists there unless one takes an ahistorical view. Disaster capitalism in the Caribbean can only exist in those states whose revolutions have been defeated and/or undermined, but overall, there has been no massive structural changes in these states. The region is already, and historically has been, ultra-accommodating to capitalism. Disaster capitalism refers to “the use of the shock of disastrous situations to dismantle state participation in the economy and to implant structural changes in the form of laissez-faire capitalism” (Schwartz, 2015, p. 311). To claim that disaster capitalism will come to the Caribbean region would thus indicate a marked period of state participation in the Caribbean that provided for the peoples living there.

    Instead, all states’ independence was marked by US interventions given the ideological and economic struggle of the Cold War and the neoliberal turn, which attacked state input and intervention in the market. Caribbean states’ independence was marked by debt and lack of access to capital. It occurred alongside financial institutions’ proliferation of structural adjustment policies whose implementation was necessitated for states in the region to acquire access to loaned capital (John, 2023). Though struggles for nationalizations did occur – in industries like mining, banking, insurance, and others – harsh retaliations from the US and Canada made them unsustainable (John, 2023, p. 134) – with no real reductions in foreign ownership “despite the changes in legal forms of ownership” (Thomas, 1984, p. 168-9). Thus, large foreign ownership of resource extractive industries and financial institutions remained a feature of Caribbean societies when they became independent – just as it also marked the colonial landscape in these spaces. The foreign players that controlled corporations, land, and industries in these countries did change somewhat, but this was also typical with imperial rivalries (Caribbean states themselves having been subject to multiple phases of European colonization throughout their histories).

    It was Walter Rodney, who in his 1972 text How Europe Underdeveloped Africa, put forward a critique of the thesis that capitalism had to develop prior to ushering in socialism – which was Marx’s estimation – given that this thesis went against the trajectory of capitalist development in both the Caribbean and in Africa, where the capitalist logics of extraction with disregard for these societies left them in almost permanent states of underdevelopment, that only physical and ideological anti-imperialism could rectify. One of the consequences of this underdevelopment, I argue, is the lack of hurricane preparedness. The logic of “getting people back to work” and “security” in these colonized spaces have always trumped wellbeing for the people and environment – precisely because the people in them have always been categorized as disposable, while the natural resources have been reduced to instruments for the generation of profit. This ideology was true under European empires, and now true under US hegemony in the region – where foreign imposing actors continue to have more say on preparedness, wealth distribution, land ownership, security, economic development, and entrepreneurship (innovation).

    In a Region Prone to Hurricanes, Unpreparedness is an Ideological Policy Choice

    “Hurricanes are not random phenomena. Atmospheric conditions and physics limit their movement” (Schwartz, 2015, p. xvi). In the Caribbean, the Yucatán Peninsula, the Gulf of Mexico, and the South-Eastern United States, we have come to expect a lack of preparedness whenever hurricanes strike. Though Hurricane Beryl’s strength and early formation in June was unprecedented for the Caribbean’s hurricane season, what is precedent is the lack of regional preparedness for hurricanes in a region prone to have them – no matter when these hurricanes form. Forming around June 25th it was clear that Beryl would break the record for earliest formed Category 5 hurricane by the time that it made way into the Caribbean. This was due to the unusually warm temperatures registered in both the Atlantic Ocean and the Caribbean Sea as early as March, various heatwave advisories and warnings were placed on the region acknowledging that the summer 2024 would be “hotter than usual” (Loop News 2024). When news of Beryl’s formation first spread, people expected the worst given unusually hot increases in temperatures (+4°c) for the region so early in the year.

    Making landfall as a Category 4 hurricane in one of the smaller islands of Grenada, Carriacou, on July 1st Beryl would destroy 95% of the infrastructure there before strengthening to a Category 5 hurricane. It would bring even worse devastation to a smaller island of St. Vincent and the Grenadines, Mayreu, where reports proclaim that island to have nearly been “erased from the map” (AP News 2024). In its Caribbean path, Beryl brought devastation as a Category 5 and 4 storm to Grenada, St. Vincent and the Grenadines, Dominica, Tobago and northern Venezuela, Barbados, and the southern portion of Jamaica. In its North American path, Beryl brought devastation as a Category 2 and 1 storm to Mexico’s Yucatan Peninsula, before making landfall in Texas and Louisiana. Thereafter the storm was experienced elsewhere in the form of a tropical cyclone and massive downpours of rain. Beryl eventually tapered off in Canada on July 11th where it left heavy rain that caused massive flooding (due to Canada’s neglected flood systems). Beryl’s death toll currently stands at 33, with the storm causing 6 deaths “in Venezuela, 1 in Grenada, 2 in Carriacou, 6 in St. Vincent and the Grenadines, 4 in Jamaica […] at least 11 in the Greater Houston area, 1 in Louisiana, and 2 in Vermont.” (TT Weather Center 2024)”

    Now that the storm has passed, people in impacted areas must contend with the loss of life, destruction of physical infrastructure – including homes and businesses, the lack of food and other basic products, as well as the lack of power and electricity. While contending with loss, victims of this severe weather will start to question the inability of their governments – rich or poor – to adequately address the post hurricane scenarios that they find themselves in repeatedly. This discontent with unpreparedness is now prevalent even before the hurricane season itself has ended.

    A Note on Cuba’s Hurricane Preparedness, The Importance of Ideology

    One of the most infuriating elements of hurricanes in this region is the “disaster” narratives that come after them, which falsely assert the “naturalness” of unpreparedness given the chaos of the disaster itself – when unpreparedness is, in fact, an ideological policy choice. Poorer states in this region are shackled by an unwillingness of the state to drastically deviate from “larger institutional constraints from which the logic of colonial administration derived its central purpose” and are inherited (Pérez Jr., 2001, p. 133-4).  On the other hand, richer states are shackled by their individualist ideologies which offer “vigorous critiques of government expenditure” which leave preparedness up to “market-driven, neoliberal economic policies,” that turn state and local responsibilities over “to charitable institutions, to churches, or to the victims themselves and their communities” (Schwartz, 2015, p. 300).

    When looking at states in the Western Hemisphere which frequently experience hurricanes, Cuba stands out as a state which tends to fare better in the post hurricane environment given that state’s policies of shared responsibility towards its people. This even as Cuba has been subjected to a draining embargo and sanctions which places a burden on economic growth there. Yet still, Washington maintains that Cuba’s successful hurricane response and disaster mitigation strategies amount to “the exchange of liberty for effectiveness” (Schwartz, 2015, p. 293-4). Though couched in this language of ‘liberty,’ mitigating the loss of life ensures one’s longtime enjoyment of liberty – as opposed to dying for ‘liberty’s’ sake during a hurricane (or other disasters like the COVID-19 pandemic). For example, Cuba’s hurricane preparedness in relation to the US stands out. Cuba’s disaster response compares a bit more favorably to the Federal Emergency Management Agency (FEMA). FEMA “oversaw 15 times more deaths from hurricanes than Cuba from 2005 — the year that Katrina struck New Orleans — to 2015” (Wolfe, 2021).

    This is because Cuba’s disaster preparedness is proactive, prioritizing human life and well-being given the ideological foundations of its revolution that transformed political, social, economic, and environmental relations in the country. US disaster preparedness on the other hand prioritizes profit at the expense of people – it is reactionary and reactive, often blaming victims of hurricane disasters for the lack of state preparedness.

    The Caribbean Hurricane as Natural Phenomena, the Disaster as Colonial Inheritance

    Hurricanes are not experienced equally amongst states in the Western Hemisphere. People living on Caribbean islands tend to experience the worst effects of hurricanes when they do strike, and it is also people on these same islands which tend to have less resources to recover from the impacts of a hurricane. Though Cuba’s hurricane preparedness is commendable, infrastructure and livelihoods there are still devastated by hurricanes. Many of the Caribbean islands are geographically located “in the Atlantic Hurricane Alley, [and] the region is sensitive to large-scale fluctuation of ocean patterns that are disrupted by warming seas” (Zodgekar, et. al 2023, p. 321). Additionally, populations and infrastructure on these islands tend to be concentrated on the coast – a colonial holdover – given that European “settlements were established directly in the path of oncoming hurricanes (Pérez Jr., 2001, p. 8). Initially due to lack of knowledge, this trend remained unchanged amongst Europeans given the need to export what was being extracted from these islands using the ports developed on the coasts.

    Historically, environmental disasters (hurricanes, earthquakes, and droughts) throughout the 1600s-1900s would consolidate land amongst the wealthiest European settlers on different islands and would foil settler attempts to diversify agriculture on islands. This was because wealthy settlers could more easily recover and rebuild what was lost in the aftermath of a hurricane, due to their ability to access credit from Europe and resort to using their own fortunes (wealth and networks). On the other hand, smaller settlers unable to rebuild and recover from hurricane losses had a harder time accessing credit – and creditors within Europe viewed loaning to smaller settlers as a financial burden. If these smaller settlers were already in debt, the passing of a hurricane meant that they would either have to work off debt by giving all that they had to a creditor in Europe, or one on the island, by entering into a credit arrangement with a wealthier plantation owner (Mulcahy, 2006, p. 86-8). These losses were quite frequent, as it is known that these phenomena made it so that some European creditors in Europe would amass plantation wealth, even if they themselves had never visited a Caribbean island or formally engaged in plantation life (Mulcahy, 2006, p. 87-8).

    These dynamics, in part, explain the predominance of the cultivation of sugar (and rice in what would become the South-Eastern United States) within the region, and even then, “plantership […] necessitated deep pockets (or strong credit) to survive its constant and rapid fluctuations” (Mulcahy, 2006, p. 66). “Without access to credit, smaller farmers were forced to sell their lands to wealthier and more secure planters, who thereby expanded their landholdings and production capabilities” (Mulcahy, 2006, p. 86). This consolidation of larger and wealthier plantations also made other concerns arise, namely the depopulation of settlers from the islands, as debtors opted to leave in the aftermath of storms, and later the transfers of estates to owners outside of the colonies (Mulcahy, 2006, p. 86-7). In essence, settlers’ decision to flee in the wake of, or after, a hurricane shaped population dynamics and demographics in colonies. They also shaped the lack of hurricane preparedness in colonies. Wealthier planters on the islands, and Europeans in Europe, who could suffer from hurricane losses (hurricanes themselves not being guaranteed every season), rebuild afterwards, and recover previous losses given the profit from plantation trade goods – had less incentives to plan ahead if they were not as risk of losing everything they had amassed in their life after a hurricane.

    In smaller island states’, where plantation systems were heavily disrupted or stunted in growth due to geography of the land (especially in the Lesser Antilles), even fewer attempts were made to develop any infrastructure which could protect against storms (Mulcahy, 2006). To be clear, this does not mean that these landscapes were spared from destruction which made the impacts of hurricanes worse: deforestation, overgrazing, and over-cultivation of Caribbean islands during centuries of European colonialism that included dispossession of indigenous groups and the enslavement of Africans, also impacted how hurricanes came to be experienced. While planter consolidation, rebuilding, and profits have so far been underscored here – the elephant in the room is that all of this occurred alongside the massive death toll of enslaved Africans who suffered the most both during and after the passage of a hurricane. Outside of the high death tolls for enslaved Africans on the islands, once a hurricane passed, the ultimate goal in the colonies became the reestablishment of ‘law-and-order’ given fears of slave revolt in the wake of destruction (Mulcahy, 2006; Schwartz, 2015). Although slave-revolts post hurricane remained a consistent fear of settlers, slave revolts did not occur after a hurricane due to its disproportionate toll on enslaved populations who were “often the most debilitated by the shortage of food and the diseases that followed the hurricane” (Schwartz, 2015, p. 49).

    Caribbean Indigenous Peoples Blamed European Imperial Settlement for Increased Hurricane Devastation

    From historical accounts, we know that the Spaniards were the first Europeans to experience a hurricane within the Western Hemisphere during Columbus’s second voyage in 1494/5 (Pérez Jr., 2001; Mulcahy, 2006; Schwartz, 2015). The hurricane experience was unlike anything that Europeans had observed in Europe, and it was from this experience that they sought out intel from the indigenous peoples in the Caribbean. For Caribbean indigenous peoples, “the great storms were part of the annual cycle of life. They respected their power and often deified it, but they also sought practical ways to adjust their lives to the storms. Examples were many: The Calusas of southwest Florida planted rows of trees to serve as windbreaks to protect their villages from hurricanes. On the islands of the Greater Antilles—Cuba, Jamaica, Hispaniola, and Puerto Rico—the Taino people preferred root crops like yucca, malanga, and yautia because of their resistance to windstorm damage. The Maya of Yucatan generally avoided building their cities on the coast because they understood that such locations were vulnerable to the winds and to ocean surges that accompanied the storms” (Schwartz, 2015, p. 5). Further, Indigenous representations of hurricanes were overall accurate and are similar to modern meteorological mapping of these storms. Europeans also learned from Caribbean Indigenous groups that you could “track” when a hurricane would strike. These developments meant that Indigenous Caribbean knowledge of the hurricane was not only limited to the occurrence of storm, but also meant that Indigenous Caribbean societies factored in preparedness for hurricanes within their worldviews.

    Given Caribbean Indigenous knowledge of hurricanes, it is these same people who also recognized that the changes to the landscape by European colonialism contributed to the increased devastation caused by hurricanes between the 1600s-1900s. As such, English colonists who would also come to experience the hurricanes report that “several elderly Caribs stated that hurricanes had become more frequent in recent years, which they viewed as a punishment for their interactions with Europeans” and the main “alteration that our people attribute the more frequent happenings of Hurricanes” (Mulcahy, 2006, p. 35). What these settler accounts reveal about Indigenous Caribbean peoples is what Schwartz notes in his 2015 book, Sea of Storms: A History of Hurricanes in the Greater Caribbean from Columbus to Katrina, that although “hurricanes were a natural phenomenon; what made them disasters was the patterns of settlement, economic activity, and other human action” (p. 74). Nonetheless, colonial ecological and environmental destruction in the Caribbean – which increased the felt impact of hurricanes – remained worthwhile for Europeans given the high profits to be made from export crops, which kept people there to rebuild after hurricanes. Mulcahy in his 2006 book, Hurricanes and Society in the British Greater Caribbean, 1624 – 1783, writes “European settlers and colonists were engaged in a never-ending struggle against nature in their quest for wealth” (p. 93)

    Additionally, the European empire’s responses to hurricanes also influenced decisions to stay. Because colonial societies in the Caribbean were stratified along racial and other social hierarchies – hurricanes presented opportunities for large scale consolidation of plantation property on islands which privileged wealthy plantation owners. Additionally, smaller merchants and plantations which could not recover post hurricane were sometimes forced to transfer ownership to merchants in Europe – who never had to visit these properties while amassing wealth from them thereafter (Mulcahy 2006, p. 88). Disaster relief to the colonies thus came to be historically designed as a way for further economic integration, and “assistance to the colonies in times of disaster would bring wealth and affluence to the empire” (Mulcahy 2006, p. 162). Disaster assistance – while increasing inequalities between all peoples in the colonies – did overall benefit imperial capitalism and patriotism within the empire, amongst loyal subjects, especially amongst elite classes, who received the majority of aid based on their losses.

    Banking on Hurricanes and Absolving Empire of Responsibility: Debates in Europe

    While debates in Europe raged regarding enriching the already wealthy within the colonies with disaster relief – these debates did not change the post-hurricane reality of which those most needing of aid (Indigenous groups, enslaved Africans, indentured workers, small merchants, and small planters) were the least likely to receive it, which was true across all of the different European colonies (Pérez Jr., 2001; Mulcahy, 2006; Schwartz, 2015). “Vulnerability to the hurricane itself was a function of the material determinants” around which colonial social hierarchies were arranged (Pérez Jr., 2001, p. 111). In Europe, debates focused primarily on creditors, so it was argued that the wealthy were more primed to repay creditors when/if they received disaster relief after a hurricane. On the other hand, the proliferation of print news meant that individuals and organizations (e.g., the Church) could send aid to the colonies after disaster struck. Previously, when disaster struck it would take months for news to reach those in Europe, even as the disruptions in trade were more readily felt. Moreover, it was hard for the public in Europe to understand the scale of destruction caused by hurricanes in the Americas, given that this kind of natural disaster did not occur in Europe.

    With the establishment of print media, the destruction caused by hurricanes and the damages that they did to plantation systems – which would require a lot of assistance to recover – was made much more readily available to people who could empathize and assist in recovery efforts. Within the British empire, some newspapers even published who would send what amount and type of post disaster relief to the colonies, which undoubtedly contributed to the charitable giving of some wealthy individuals (Mulcahy 2006; Schwartz 2015). Given that the voyage from Europe to the various colonies was long, there was illegal trading between different colonies to provide relief to one another faster – including with the United States, even after the American Revolution.

    It is this colonial history which still shapes the lack of hurricane preparedness in a region prone to have them. Thus, most scholars on hurricanes in the region continue to highlight the colonial and slave legacies which have shaped regional unpreparedness to hurricanes. Though the United States is a wealthier country today with the capabilities to develop hurricane preparedness – even if only within its own borders – it is elite US security interests and ideological leanings which have prevented it from doing so. Additionally, historians like Schwartz (2015) make a compelling argument that “the United States, by its military and political expansion into the Caribbean after 1898, its foreign policy objectives in the Cold War, and through its advocacy of certain forms of capitalism joined with its ability to impose its preferences on international institutions, has also influenced the way in which the whole region has faced hurricanes and other disasters” (Schwartz, 2015, p. xviii-xix). This implies that the United States – like the European empire’s past – also has a stake, or interest, in regional hurricane unpreparedness for both political, economic, and security objectives.

    US Imperial Extensions in the Caribbean, Impact on Hurricane Preparedness

    From this overview of the history of hurricanes in the Caribbean, the Yucatán Peninsula, the Gulf of Mexico, and the South-Eastern United States a few things become clear: hurricane preparedness has never been a concern for colonial capitalist development. Hurricane disasters came to be recognized as extremely ruinous to those occupying the lowest rungs of colonial societies, aid was given to the wealthy people who were understood as being able to put aid to better usage, and disaster situations consolidated preferred modes of accumulation in otherwise “chaotic” and uncivilized landscapes. Thus, outside of patriotic tales and misremembering of the storm events, historically “hopes of communal solidarity” in the wake and aftermath of hurricanes “were either naïve or disingenuous [… with] social divisions ha[ving] always shaped the responses to hurricanes (Schwartz, 2015, p. 68-9). Given strict colonial hierarchies, the maintenance of order – to dissuade slave revolts and looting – were always preeminent concerns of empires and those with wealth and power. This is important to plainly state, given that little has changed in today’s experience with hurricanes in the region.

    Today’s granting of conditioned relief and temporary debt removals still serve to subordinate Caribbean states to the Western capitalist system and the US security apparatus. Those areas hardest hit by storms and less likely to receive aid, continue to be occupied by the poor populations that are largely non-white/Euro peoples. Settlements on islands continue to be concentrated on coasts, where the tourist industry quickly rebuilds its infrastructure post-hurricane and are the first to receive aid. This at once dispels the myths that recovery is impossible, as it happens in the large coastal areas owned and controlled by foreign hotel chains and entities which quickly beckon tourists back to their “lovely beaches” less than a day after a hurricane. Preparedness for hurricanes in the Caribbean islands are “subordinated to political, military, or what today would be called ‘security’ concerns” (Schwartz, 2015, p. 276). I would include economic and ideological concerns as well. These latter concerns are maintained by the wealthiest states in the hemisphere – the United States and Canada.

    Hurricane Flora in the 1960s claimed the lives of over 5,000 Haitians under the Duvalier dictatorship – which failed to even warn Haitians about the arrival of the hurricane so that disorder against Duvalier would not take over the country. The lack of preparedness was accepted by both the United States and Canadian governments given their fear of communism in the Caribbean region. Thus “unlike Haiti’s U.S.-backed right-wing president, François Duvalier, Castro’s Communist government ordered residents living in the hurricane’s projected path to evacuate their homes, and if they were unable, to stay and prepare appropriately for the storm.” This preparation and the establishment of Cuba’s defense system in 1966 accounted for significantly less deaths (1,157) in Cuba (Wolfe, 2021). Today, unpreparedness remains a feature in most Caribbean countries that put corporate interests and the interests of the US (and its allies) security objectives above the prioritization of human life and livelihoods in the Caribbean.

    As further illustration of this point, even though the 2004 Hurricane Jeanne hit Cuba a lot harder than Haiti – killing 3,000 Haitians – no Cuban lives were lost due to the hurricane (Wolfe, 2021). The historical and present-day case of Haiti is both informative and a cause for worry as we expect future hurricane seasons to be quite bad. Not only is Haiti a fully privatized economy (Wilentz, 2008); but it is also one that has been under the tutelage of the CORE group – a group composed primarily of foreign ambassadors from the US, France, Canada, Spain, Brazil, Germany, and a few representatives from the European Union (EU), the United Nations (UN), and the Organization of American States (OAS) – for over two decades. The CORE group’s tutelage of Haiti has been exceptionally negative, as these states and their ambassadors secure their own corporate and labor interests in the country at the expense of that state’s democracy and national sovereignty (Edmonds, 2024). Thus, disaster preparedness in Haiti has never been an agenda item – and has only gotten worse as those governing the country continue to benefit from political, economic, and environmental disasters there. Present day armed intervention and occupation in Haiti, further makes it unlikely that Haiti will be able to weather the next hurricane season.

    Hurricane Unpreparedness, A Note on Canada

    It is important to remind here that although much is said about US imperialism and security concerns trumping human rights and pro-people development in the region – Canada is not exempt from this critique. For instance, although Canada touts that its military base (OSH-LAC) in the Caribbean is a “support hub” – that also seeks to assist states experiencing disasters, of which hurricanes are included – in 2017 when Category 5 Hurricane’s Irma and Maria wreaked havoc on Dominica, OSH-LAC warships monitored the situation but provided no on the ground help to Caribbean peoples there (John, 2024, p. 12-3). The Canadian government also enacted restrictive migration policies towards those fleeing from the hurricane and its damages. This practice would be repeated by Canada again in 2019 during the aftermath of Hurricane Dorian in The Bahamas (John, 2024, p. 12-3). Given that I am currently living in Canada, it is important to point out that Canada is a state that frequently touts progressive rhetoric on climate change, resiliency, and disaster preparedness in the Caribbean region. However, Canada’s actions continue to render the Caribbean region unprepared alongside the actions of the US.

    In the 2023 Canada-CARICOM summit hosted by Canada, Caribbean prime ministers sought to place climate issues and climate infrastructure at the top of the agenda – however, Canada was mainly concerned with getting support for an armed intervention in Haiti (Thurton, 2023). Haiti remains the most unprepared country in the Caribbean when disasters hit, which made Canada’s insistence on armed intervention and occupation even more tone deaf. Haiti’s unpreparedness is directly tied to US, Canada, France, and CORE group members tutelage and rejection of Haitian democracy ever since that country’s integration into the Western capitalist system via US occupation. These examples illuminate the fact that the wealthier states in the Western Hemisphere, namely the US and Canada, actively disregard the lives of those impacted by hurricanes and other natural disasters to their south – while first and foremost safeguarding their own economic, ideological, and security priorities. In my analysis of ‘south,’ the Caribbean, the Yucatán Peninsula, the Gulf of Mexico, and the South-Eastern United States are included.

    Conclusion

    Ideologically, the promotion of capitalism, colonialism, and imperialism in the Caribbean (of which the South-Eastern United States, the Gulf of Mexico and Yucatán Peninsula is included) continues to pose an obstacle to disaster preparedness in a region prone to hurricanes.  More importantly, the promotion of these harmful ideologies often comes at the expense of human life. Nothing makes this clearer than the fact that it is the revolutionary state – which is also the most heavily economically sanctioned state in the region – Cuba, that continues to be the most prepared state in times of disaster. This stands in stark contrast to other Caribbean states and to wealthier states, like the US, which mandate regional unpreparedness. Today, while we await (but hope that it is not so) a bad hurricane season, the Caribbean region is more militarized than it has been since the end of the 20th century and beginning of the 21st century. Militarization is directly due to US security objectives that aim to keep China’s investments (thus competition) out of the region. This policy is backed by Canada, which seeks to advance its own corporate interests in the region.

    The US and Canada continue to militarize the Caribbean region, exacerbating climate change and neglecting the urgency of developing resiliency infrastructure. In fact, militarization in the Caribbean region today (and in Africa and Asia) occurs alongside the tightening of both the US and Canadian borders given hostile narratives towards immigrants and immigration within them. This even with the region’s long history (as has been pointed out) of people fleeing the region both during and after a hurricane. All of which indicates that while these states are undoubtedly deepening the climate crisis with their global “security” endeavors, they view the people harmed and negatively impacted by their actions as disposable.

    Postscript

    Three months after the writing of this document, 5 hurricanes – Debby, Ernesto, Francine, Helene, and Milton – have impacted peoples and infrastructure in the south. The 2024 Atlantic Hurricane season thus far (October 11th, 2024) has taken almost 400 lives – with the actual figure being uncertain, given that the damage from Milton is still being assessed. Each storm is estimated to have cost between $80 – $250 billion (USD) in damages across the region. While governments talk about costs and recovery efforts to get economies “back on track” and provide people with temporary and conditional aid – which is the post disaster norm – we are presented with an uncomfortable, yet undeniable fact: states in the region, whether by colonial inheritance or commitment to capitalism, are banking on unpreparedness continuing well into the future. We must be proactive in defeating this dangerous ideology that places people’s lives, livelihoods and the physical environment at stake; while perpetuating, in its aftermath, conditions that make it so.

    References

    Clark, John I, and Léon Tabah, eds. 1995. Population and Environment Population – Environment – Development Interactions. Paris, France: Comité International de Coopération dans les Recherches Nationales en Démographie (CICRED). http://www.cicred.org/Eng/Publications/pdf/c-a1.pdf.

    Direct Relief. 2024. “Direct Relief Responds as Hurricane Beryl Impacts the Caribbean. The Region, Watchful and Ready, Will Weather the Storm Today.” Direct Relief. https://www.directrelief.org/2024/07/direct-relief-responds-as-hurricane-beryl-impacts-the-caribbean-the-region-watchful-and-ready-will-weather-the-storm-today/.

    Edmonds, Kevin. 2024. “CARICOM, Regional Arm of the Core Group, Sells Out Haiti Again.” Black Agenda Report. https://www.blackagendareport.com/caricom-regional-arm-core-group-sells-out-haiti-again.

    Forecast Centre. 2024. “Atlantic Canada Next in Line for a Soaking, Flood Risk from Beryl Remnants.” The Weather Network.https://www.theweathernetwork.com/en/news/weather/forecasts/atlantic-canada-next-in-line-for-a-soaking-flood-risk-from-beryl-remnants.

    IFRC. 2024. “Humanitarian Needs Ramp up in the Aftermath of ‘unprecedented’ Hurricane Beryl, Signaling New Reality for Caribbean.” The International Federation of Red Cross and Red Crescent Societies (IFRC). https://www.ifrc.org/press-release/humanitarian-needs-ramp-aftermath-unprecedented-hurricane-beryl-signaling-new-reality.

    Jobson, Ryan C. 2024. “Hurricane Beryl at the Gates: The Grenadines and Caribbean Autonomy.” Medium. https://medium.com/clash-voices-for-a-caribbean-federation-from-below/hurricane-beryl-at-the-gates-the-grenadines-and-caribbean-autonomy-86834fb43bcd.

    John, Tamanisha J. 2023. “Canadian Imperialism in Caribbean Structural Adjustment, 1980-2000.” In Class Power and Capitalism, Brill Publishers, 136–79.

    John, Tamanisha J. 2024. “Capitalism, Global Militarism, and Canada’s Investment in the Caribbean.” Class, Race and Corporate Power 12(1): 25.

    Loop News. 2024. “Caribbean 2024 Heat Season Could Climb to Near-Record Heat.” Caribbean Loop News. https://caribbean.loopnews.com/content/caribbean-2024-heat-season-could-climb-near-record-heat.

    McGrath, Gareth. 2024. “Hurricane Beryl Was the Earliest Category 5 Storm. What Could That Mean for NC?” Star News Online. https://www.starnewsonline.com/story/news/local/2024/07/11/what-hurricane-beryl-the-earliest-category-5-storm-could-mean-for-nc/74288495007/.

    Mulcahy, Matthew. 2006. Hurricanes and Society in the British Greater Caribbean, 1624 – 1783. Baltimore, Maryland: The Johns Hopkins University Press.

    NACLA. 2024. “This Week: Hurricane Beryl Slams the Caribbean, a Victory for Midwives in Mexico, Venezuelan Elections, and More.” https://nacla.salsalabs.org/july_12_24?wvpId=37c1b636-52b7-44b5-af75-9a38617519d5.

    NASA. 2024. “Carriacou After Beryl.” NASA Earth Observatory. https://earthobservatory.nasa.gov/images/153039/carriacou-after-beryl.

    Pérez Jr., Louis A. 2001. Winds of Change: Hurricanes & The Transformation of Nineteenth-Century Cuba. Chapel Hill & London: The University of North Carolina Press.

    Rodney, Walter. 2018. How Europe Underdeveloped Africa. Verso Books.

    Schwartz, Stuart B. 2015. Sea of Storms: A History of Hurricanes in the Greater Caribbean from Columbus to Katrina. Princeton University Press.

    Thomas, Clive Y. 1984. Plantations, Peasants and State: A Study of the Mode of Sugar Production in Guyana. Los Angeles: UCLA Center for Afro-American Studies.

    Thurton, David. 2023. “Caribbean Looks to Trudeau to Put Quest for Climate Change Funding on the World’s Agenda.” CBC News. https://www.cbc.ca/news/politics/caricom-trudeau-caribbean-1.6999106.

    TT Weather Center. 2024. “Hurricane Beryl Death Toll Now At 33.” Trinidad and Tobago Weather Center. https://ttweathercenter.com/2024/07/11/hurricane-beryl-death-toll-now-at-33/.

    VOA News. 2024. “Remnants of Beryl Flood Northeast US.” VOA News. https://www.voanews.com/a/remnants-of-beryl-flood-northeast-us/7694063.html#.

    Wagner, Bryce, and Cristiana Mesquita. 2024. “In St. Vincent and the Grenadines, Beryl Nearly Erased the Smallest Inhabited Island from the Map.” AP News. https://apnews.com/article/hurricane-beryl-mayreau-island-caribbean-bb64fc9b61da76685704b8f42f97736c?eType=EmailBlastContent&eId=fffcba4b-3154-47e9-b4ce-e0349f4225db.

    Wilentz, Amy. 2008. “Hurricanes and Haiti.” Los Angeles Times. https://www.latimes.com/la-oe-wilentz13-2008sep13-story.html.

    Wolfe, Mikael. 2021. “When It Comes to Hurricanes, the U.S. Can Learn a Lot from Cuba: Cuba Devised a System That Minimizes Death and Destruction from Hurricanes.” The Washington Post. https://www.washingtonpost.com/outlook/2021/09/01/when-it-comes-hurricanes-us-can-learn-lot-cuba/.

    Zodgekar, Ketaki, Avery Raines, Fayola Jacobs, and Patrick Bigger. 2023. A Dangerous Debt-Climate Nexus. NACLA Report on the Americas. https://doi.org/10.1080/10714839.2023.2247773.

    Photo Credit: InOldNews, by Delia Louis
    Description: Depicts St. Lucia during and post Hurricane Beryl
    License info: Creative Commons taken from Flickr.

    About the author: Tamanisha J. John is an Assistant Professor at York University in the Department of Politics

    MIL OSI NGO –

  • MIL-OSI USA: Tips for a Healthy and Safe Halloween

    Source: US State of Rhode Island

    The Rhode Island Department of Health (RIDOH) is reminding Rhode Islanders about Halloween safety precautions.

    Halloween street smarts

    Talk with kids about the risks of distracted walking. This includes texting, talking on or looking at a phone, and listening to music.

    Always accompany young children on their trick-or-treating rounds. Research shows that evenings from 6 p.m. to 9 p.m. are the riskiest times of day for child pedestrians.

    If your older children are trick-or-treating without you, plan and review a route that is acceptable to you. Agree on a specific time when they should return home.

    Older children should travel in groups and create a “buddy system.”

    Cross the street as a group at crosswalks.

    Stay on well-lit streets and always use the sidewalk. If no sidewalk is available, walk at the far edge of the roadway facing traffic.

    Caution kids to never enter a home or a car for a treat.

    Costume safety tips

    Plan costumes that are bright and reflective. Consider adding reflective tape or striping to costumes and trick-or-treat bags for greater visibility.

    Look for “flame resistant” on the costume labels. Wigs and accessories should also clearly indicate this.

    Hats should fit properly to prevent them from sliding over eyes and blocking vision.

    Consider non-toxic makeup and decorative hats as safer alternatives to masks.

    Do not use decorative contact lenses without an eye exam and a prescription from an eye care professional.

    Healthy Halloween tips

    Consider offering non-edible goodies to trick-or-treaters (such as spider rings, vampire fangs, pencils, or bubbles). Halloween is one of the trickiest days of the year for children with food allergies.

    Wait until children are home to sort and check treats before eating them.

    Enjoy sweets in moderation.

    Driving

    Drive slowly in residential neighborhoods.

    Watch for trick-or-treaters at intersections, medians, and on curbs.

    Watch for trick-or-treaters darting from between parked cars.

    Enter and exit driveways carefully.

    If a teen driver is in your household, consider not allowing that person to drive after dark on Halloween. If you have a teen driver who will be driving, talk about precautions and set specific rules.

    Continue to take measures to prevent mosquito bites

    This has been a higher-than-average risk year for mosquito-borne diseases, including Eastern Equine Encephalitis (EEE), in Southeastern New England. Due to seasonably low mosquito populations, the risk of mosquito-borne disease has significantly decreased. However, mosquito biting can still occur during unusually warm weather, with Southeastern New England experiencing warm temperatures late this week, including on Halloween. Mosquitoes become less active at temperatures below 58 degrees and become largely inactive when temperatures fall below 50 degrees. Until the entire state experiences a true hard frost (defined as three consecutive hours below 32 degrees) which kills adult mosquitoes, the risk of mosquito-borne disease remains. For that reason, Rhode Islanders who will be outdoors on Halloween should continue to take mosquito bite prevention measures. These prevention measures are most important at sundown (and sunrise).

    Wear long-sleeved shirts and long pants.

    Use EPA-approved bug spray with at least 20% DEET. Alternatively, people can use a bug spray with one of the following active ingredients: Picaridin, IR3535, oil of lemon eucalyptus (OLE), para-menthane-diol (PMD), or 2-undecanone. People should not use bug spray with DEET on infants under two months of age.

    Put mosquito netting over baby carriages.

    Visit www.health.ri.gov/mosquito for additional mosquito prevention tips.

    MIL OSI USA News –

  • MIL-Evening Report: What are Veblen and Giffen goods?

    Source: The Conversation (Au and NZ) – By María Yanotti, Lecturer of Economics and Finance Tasmanian School of Business & Economics, University of Tasmania

    photo-lime/Shutterstock

    This article is part of The Conversation’s “Business Basics” series where we ask experts to discuss key concepts in business, economics and finance.

    In economics, goods and services can be classified in different ways. You might be surprised to realise you already knew this, even without knowing their classification names.

    Most goods and services are what we call normal goods. Normal goods are those that you purchase more of as your income increases.

    For example, you might put healthier and more nutritious food in your trolley, buy more shoes and clothes, or spend more on outings at restaurants and events.

    Normal goods still abide to what’s called the law of demand, which might feel like common sense: as the price of something goes up, the quantity of or frequency with which it is demanded will fall.

    But there are some categories that violate our intuitions around supply and demand. And they do so for very different reasons. Meet Veblen and Giffen goods, the products that “break the rules”.



    Read more:
    What’s inflation – and how exactly do we measure it?

    Needs and wants

    Normal goods can be further divided into two types: necessity goods and luxury goods.

    Most groceries are an example of necessity goods.
    No Revisions/Unsplash

    Broadly speaking, necessity goods are all those things we require for everyday life – food, housing, electricity and so on.

    Luxury goods, on the other hand, are the those things we don’t necessarily need but are nice to have. Luxury houses, fancier cars, more expensive clothes and so on.

    We become more able to afford luxury goods as we earn more. But as a result, they are also the first things we tend to cut when our income tightens.

    For most of these products, something called the “law of demand” applies. That is, if their price increases, people buy less of them than they did before. Demand for them shrinks.

    However, some types of good defy this “natural” principle.

    Symbols of status and wealth

    The first type are Veblen goods, named after American economist Thorstein Veblen. Sometimes they’re also called “snob” goods.

    When these goods go up in price, demand for them actually increases.

    Clear examples of Veblen goods are some forms of art, high-end designer clothes, exclusive cars and watches. The more expensive the good is, the more exclusive it is, and the more the consumers (who are attracted to it) want to purchase it.

    It all centres on signalling status. Being seen to be able to purchase them can indicate someone has exquisite taste, or lots of money to spend.

    Most times, Veblen goods are an example of what economists call “positional” goods. These are goods that are valued according to how they are distributed among people, and who exactly has them.

    The satisfaction of purchasing a Veblen good comes from the sense of having it and being able to show it off, not necessarily from how useful it is.

    The value of Veblen goods is driven by their artificial scarcity – they’re deliberately hard for people to acquire.
    Andrea Natali/Unsplash

    Inferior goods

    On the opposite side of normal goods are inferior goods. As our income increases, we tend to consume less of these goods.

    Think, for example, of two-minute noodles or the bus service.

    As your income increases, you may be able to afford more nutritious and healthier food and stop consuming cheaper food. You may be able to purchase a car or a bike and stop using public transport.

    But within inferior goods, one rare kind offers another exception to the law of demand – Giffen goods.

    Why does a rise in price cause demand to go up? Because for people on limited incomes, this limits their ability to buy substitutes.

    Take examples such as wheat, rice, potatoes, or bread. If the price of any of these goes up, a consumer on low income may have less to spend on higher quality goods like meat and fresh vegetables, increasing their demand for the inferior good.



    Read more:
    What is competition, and why is it so important for prices?

    María Yanotti receives funding from AHURI. She is affiliated with the Economic Society of Australia, and the Women in Economics Network.

    – ref. What are Veblen and Giffen goods? – https://theconversation.com/what-are-veblen-and-giffen-goods-241799

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Collisions between planes and birds follow seasonal patterns and overlap with breeding and migration – new research

    Source: The Conversation (Au and NZ) – By Tirth Vaishnav, PhD Candidate in Ecology and Biodiversity, Te Herenga Waka — Victoria University of Wellington

    Getty Images

    Bird strikes with aircraft pose a serious threat to human safety. The problem dates back to the early days of aviation, with the first death of a pilot recorded in 1912 when an aircraft crashed into the sea after striking a gull.

    Since then, 795 lives have been lost to collisions between aircraft and birds, not to mention the countless bird fatalities.

    As aircraft get faster, quieter, larger and more numerous, the risk of serious accidents increases accordingly. Every year, the aviation industry incurs damages worth billions of dollars.

    To mitigate this problem, airports around the world implement wildlife hazard management, including dispersing flocks away from the runway, tracking local bird movements and managing potential food sources such as landfills and farms near the aerodrome.

    In our recent study, we zoomed out from the local airport and examined seasonal and hemispheric trends in bird strikes.

    We found they peak in late summer and autumn in both hemispheres, but the annual distribution differs between the northern and southern hemispheres. Seasonal trends in bird strikes were seemingly influenced by avian breeding and migration patterns.

    Airports deploy noise barriers and reflective walls to keep birds away from the runway.
    Getty Images

    Seasonal patterns

    To assess seasonal patterns in bird strikes, we gathered information for individual airports from existing literature and online sources. Our dataset includes 122 airports in 16 countries and five continents.

    For each hemisphere, we determined the time of year with the overall highest number of bird strikes and the spread of strikes through the year.

    We found that bird strikes peaked in late August in the northern hemisphere and in early April in the southern hemisphere. Strikes were relatively more seasonal in the north, while they had a greater annual spread in the south.

    For instance, strikes in New York or Oslo in the northern hemisphere were considerably higher in August compared to other times of the year, while in Wellington or Durban in the southern hemisphere, strikes occurred more consistently throughout the year.

    Birds strikes are more seasonal in the northern hemisphere and more distributed across the year in the southern hemisphere.
    Author provided, CC BY-SA

    Bird strikes peaked in the autumn season in each hemisphere. Autumn is generally when young birds fledge and take to the skies. There may be two explanations for why bird strikes are higher during this time of year.

    1. For young birds, avoiding foreign objects in the flight path may be a learned behaviour. This would result in juveniles being struck at a higher rate.

    2. The greater number of birds in the air during autumn due to the influx of fledglings may result in more strikes, with adults and juveniles being struck at random.

    Links to bird migration

    Seasonal peaks in bird strikes were more pronounced in the north compared to the south. Approximately 80% of the southern hemisphere’s surface is water and the solar energy absorbed by the oceans leads to a more stable thermal regime.

    Conversely, the surface of the northern hemisphere is mostly land, leading to greater fluctuations in temperature. Birds migrate in response to these environmental factors and this influences global avian distributions and abundances.

    The intensity of migration is, therefore, much stronger in the northern hemisphere compared to the southern hemisphere, where local bird abundances are more stable seasonally.

    Our findings bridge a gap between aviation safety and macroecology. Airport authorities can use this information in several ways.

    • Wildlife officers can optimise their bird strike mitigation efforts by allocating more resources in the autumn months, particularly in northern regions.

    • Management plans for “problem” species such as gulls are often adapted from existing plans for similar species at other airports. Information on patterns in bird strikes may help in customising these plans to local bird behaviour.

    • Bird strikes are a global issue, so better standardisation in reporting bird strike statistics could improve our ability to analyse them at a global scale.

    Finally, with climate change altering the seasonal timing of cyclical events, such as avian breeding seasons and migration patterns, it may be crucial to forecast the impact of these changes on the seasonal trends in bird strikes.

    To some degree, bird strikes may be inevitable. But with the cooperation of aviation authorities, scientists and policy makers, we may be able to minimise their frequency and intensity.

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

    – ref. Collisions between planes and birds follow seasonal patterns and overlap with breeding and migration – new research – https://theconversation.com/collisions-between-planes-and-birds-follow-seasonal-patterns-and-overlap-with-breeding-and-migration-new-research-241238

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Hoyer Joins President Biden, Team Maryland to Celebrate $147 Million Clean Energy Investment in the Port of Baltimore

    Source: United States House of Representatives – Congressman Steny H Hoyer (MD-05)

    WASHINGTON, DC – Congressman Steny H. Hoyer (MD-05) joined President Joseph R. Biden, Governor Wes Moore, U.S. Senators Ben Cardin and Chris Van Hollen (all D-MD), Congressman Kweisi Mfume, Congressman John Sarbanes, Congressman Dutch Ruppersberger (all D-MD), Maryland Department of Transportation Secretary Paul Wiedefeld, and Maryland Port Administration Executive Director Jonathan Daniels at the Port of Baltimore to celebrate more than $147 million in federal funding to create good-paying, clean jobs and to expedite decarbonization and electrification efforts at the Port. The U.S. Environmental Protection Agency awarded the funding to the Port of Baltimore through its Clean Ports Program, created under the Biden-Harris Administration’s Inflation Reduction Act.

    “The Biden-Harris Administration’s Investing in America agenda continues to leave no community behind and promote clean air and water in communities that have long borne the brunt of pollution,” said Congressman Steny Hoyer. “Thanks to the Inflation Reduction Act that I brought to the House Floor as Majority Leader last Congress, the Port of Baltimore is getting the tools it needs to upgrade its equipment, improve electric charging infrastructure, and fight the climate crisis in a way that benefits Marylanders across the state. As Chair of the Regional Leadership Council, I appreciate Administrator Regan and the Biden-Harris Administration’s partnership as we continue to ensure the historic investments Democrats passed last Congress reach every community in America. We must continue to work together to strengthen the Port of Baltimore and ensure environmental justice for all Marylanders.”

    The Port of Baltimore generates about 20,300 direct jobs, with more than 273,000 jobs overall linked to port activities. The funding will enable the Maryland Port Administration and its private partners to purchase 213 pieces of new zero-emission vehicles, equipment, and charging infrastructure that will replace old, inefficient, and polluting diesel combustion engines. The funding will also pay for capacity upgrades to the port’s electrical grid, which will help significantly reduce greenhouse gas emissions with an estimated 35% decrease in carbon dioxide equivalency compared to 2020 levels. 

    “In Maryland, we aren’t going to choose between building a competitive state and a sustainable one -— we will do both at the same time,” said Gov. Moore. “In partnership with the Biden-Harris Administration, we are investing in the Port of Baltimore and electrifying the way to a greener, cleaner, and healthier future with a strong economy and good-paying jobs.” 

    “The Port of Baltimore is a vital economic engine for the state and a leader among the nation’s ports. As we work to improve the port, it is essential that we build for the future. The projects supported by the Clean Ports Program will help reduce emissions, improve air quality in the Baltimore region and create more clean energy jobs,” said U.S. Senator Ben Cardin. “The Biden-Harris Administration’s bold investments in modernizing our infrastructure are driving our economy forward while enabling us to take on climate change in a meaningful way.” 

    “We fought to pass the Inflation Reduction Act to create good-paying jobs in our communities while tackling the climate crisis head-on, and today’s announcement shows these investments are being put to work,” said U.S. Senator Chris Van Hollen. “This new federal funding will support the Port of Baltimore’s transition to electric infrastructure as part of its plans to reduce emissions – both bolstering the port’s growth and improving air quality for nearby communities. These efforts will help strengthen Baltimore’s economy and create more local jobs for Marylanders.” 

    “The tremendous projects selected for these federal funding awards will improve air quality and combat climate change by dramatically diminishing the Port of Baltimore’s greenhouse gas and toxic pollutant emissions via installation of zero-emission cargo handling equipment and trucks, while also bolstering the Maryland Port Administration’s overall emissions reduction strategy. These extraordinary federal investments into our port are consistent with our collective duty to preserve the planet – while also continuing to uplift the Port of Baltimore’s workforce and surrounding communities in the transition to a zero-emissions facility,” said Congressman Kweisi Mfume. “As exemplified by this compelling announcement, the historic Inflation Reduction Act continues to tackle the climate crisis with fierce urgency right here in Baltimore.”

    “The Port of Baltimore is a critical hub for Maryland and our nation as a whole, supporting good-paying jobs, driving economic growth and keeping goods and resources moving. This investment will improve the health of our region’s environment and provide cleaner air for port workers and nearby communities – all while ensuring that the Port remains a thriving center of commerce for generations to come,” said Congressman John Sarbanes. “I appreciate the Biden-Harris Administration for its continued partnership to enhance clean energy and improve infrastructure in Maryland, and for its tireless efforts to advance environmental justice and create a greener, more sustainable future across the country.”

    “This critical investment into the Port of Baltimore will not only keep us globally competitive, but will help mitigate pollution driving climate change,” said Congressman Dutch Ruppersberger. “The Port of Baltimore has always been at the forefront of efficiency and productivity and now we are leading the nation environmentally. I am proud to have supported this funding request and thank the Biden Administration for this strategic and responsible use of tax dollars.”

    Federal grant funding will also support community engagement with neighborhoods such as Turner Station, Brooklyn, and Curtis Bay.  

    “These improvements will provide an immediate impact to the people who live and work around the Port of Baltimore and who have borne the brunt of transportation-related health impacts,” said Maryland Department of Transportation Secretary Paul Wiedefeld. “Thanks to the EPA’s grants, the Port of Baltimore and its partners are accelerating their collective efforts to support Maryland’s climate goals of reaching net zero by 2045.” 

    Today’s announcement builds on the Biden Administration’s championship of the Port of Baltimore and the State of Maryland’s infrastructure needs, which includes the recent $30.9 million Infrastructure for Rebuilding America award for Dundalk Marine Terminal Reconstruction of Berth 11 and the $7.5 million award for Curtis Creek Drawbridge Rehabilitation and Resiliency projects. The projects directly advance the federal government and State of Maryland’s partnership to recover and rebuild after the DALI struck the Francis Scott Key Bridge.

    “The Maryland Port Administration is committed to integrating our overall mission of increasing cargo and generating jobs through the Port of Baltimore with forward-looking environmental and sustainability solutions,” said Maryland Port Administration Executive Director Jonathan Daniels. “Our customers and port partners are driven to change the way they do business to reduce greenhouse gas emissions, decarbonize, increase electrification throughout our marine terminals, and, most importantly, positively impact our near-port environmental justice communities.”

    To learn more about the clean port project and its benefits, read the Port of Baltimore’s grant proposal.

    MIL OSI USA News –

  • MIL-OSI USA: 56th Security Consultative Meeting Joint Communique

    Source: United States Department of Defense

    1. The 56th United States (U.S.)-Republic of Korea (ROK) Security Consultative Meeting (SCM) was held in Washington, D.C., on October 30, 2024. U.S. Secretary of Defense Lloyd J. Austin III and ROK Minister of National Defense Kim Yong Hyun led their respective delegations, which included senior defense and foreign affairs officials. On October 17, 2024, the U.S. Chairman of the Joint Chiefs of Staff, General Charles Q. Brown Jr., and ROK Chairman of the Joint Chiefs of Staff, Admiral Kim Myung-soo, presided over the 49th ROK-U.S. Military Committee Meeting (MCM).

    2. The Secretary and the Minister reaffirmed that the U.S.-ROK Alliance is the linchpin of peace, stability, and prosperity on the Korean Peninsula and beyond based on our shared values, including freedom, human rights, and the rule of law. The two leaders reviewed progress taken during 2024 to implement the “Defense Vision of the U.S.-ROK Alliance,” including enhancing extended deterrence against the Democratic People’s Republic of Korea (DPRK), modernizing Alliance capabilities based on science and technology cooperation, and strengthening solidarity and regional security cooperation with like-minded partners. They noted that the SCM has played a pivotal role in developing the ROK-U.S. Alliance into a Global Comprehensive Strategic Alliance and would continue maintaining its role as a core consultative mechanism to discuss the future development of the Alliance and provide strategic direction.  The two leaders also provided direction and guidance for continued progress in 2025 through a newly endorsed framework of U.S.-ROK bilateral defense consultative mechanisms that effectively and efficiently support Alliance objectives.  Both concurred that the current U.S.-ROK Alliance is stronger than ever and reaffirmed the two nations’ unwavering mutual commitment to a combined defense posture to defend the ROK as stated in the U.S-ROK Mutual Defense Treaty, and as reflected in the Washington Declaration. The two leaders also resolved to continue to strengthen the Alliances’ deterrence and defense posture against DPRK aggression and promote stability on the Korean Peninsula and throughout the region.

    3. The Secretary and the Minister reviewed the current security environment in and around the Korean Peninsula and discussed cooperative measures between the two nations. The Secretary and Minister expressed grave concern that the DPRK continues to modernize and diversify its nuclear and ballistic missile capabilities.  The two sides condemned the DPRK’s multiple missile launches, including ballistic missiles, its attempted launches of a space launch vehicle, and Russian-DPRK arms trade as clear violations of existing UN Security Council resolutions (UNSCRs).  They noted that these actions present profound security challenges to the international community and pose an increasingly serious threat to peace and stability on the Korean Peninsula and throughout the Indo-Pacific region, as well as in the Euro-Atlantic region.

    4. Secretary Austin reiterated the firm U.S. commitment to provide extended deterrence to the ROK, utilizing the full range of U.S. defense capabilities, including nuclear, conventional, missile defense, and advanced non-nuclear capabilities.  He noted that any nuclear attack by the DPRK against the United States or its Allies and partners is unacceptable and would result in the end of the Kim regime in line with the 2022 U.S. Nuclear Posture Review.  He highlighted the increased frequency and routinization of U.S. strategic asset deployments as committed to by President Biden in the Washington Declaration, and noted that these were tangible evidence of the U.S. commitment to defend the ROK.

    5. The two leaders highly appreciated the work of the Nuclear Consultative Group (NCG) inaugurated following the Washington Declaration.  Both applauded the completion on July 11, 2024, of “United States and Republic of Korea Guidelines for Nuclear Deterrence and Nuclear Operations on the Korean Peninsula,” which represents tremendous progress of the NCG commended and endorsed by President Biden and President Yoon. The two leaders affirmed that the completion of the Guidelines established the foundation for enhancing ROK-U.S. extended deterrence in an integrated manner.  Minister Kim noted that, through such progress, the ROK-U.S. Alliance was elevated to a nuclear-based alliance. The two leaders stressed that the principles and procedures contained in the Guidelines enable Alliance policy and military authorities to maintain an effective nuclear deterrence policy and posture.  The Secretary and Minister also welcomed the successful execution of the ROK-U.S. NCG table-top simulations and table-top exercises to enhance decision-making about nuclear deterrence and operations, and planning for potential nuclear contingencies on the Korean Peninsula.  Both sides affirmed that the full capabilities of the two countries would contribute to the Alliance’s combined deterrence and defense posture, and in this regard the Secretary welcomed the recent establishment of the ROK Strategic Command.  The Secretary and Minister directed the NCG to continue swift progress on NCG workstreams, including security protocols and expansion of information sharing; nuclear consultation processes in crises and contingencies; nuclear and strategic planning; ROK conventional support to U.S. nuclear operations in a contingency through conventional-nuclear integration (CNI); strategic communications; exercises, simulations, training, and investment activities; and risk reduction practices.  They noted that such efforts would be coordinated to strengthen capabilities of the ROK and United States to enhance U.S.-ROK extended deterrence cooperation in an integrated manner, and looked forward to receiving regular updates on NCG progress activities at future SCMs.

    6. The two sides pledged to continue coordinating efforts to deter DPRK’s nuclear threat with the Alliance’s overwhelming strength, while continuing to pursue efforts through sanctions and pressure to dissuade and delay DPRK’s nuclear development.  Both leaders stressed the importance of full implementation of UNSCRs by the entire international community, including the People’s Republic of China (PRC) and Russia, both permanent members of the UN Security Council.  The two leaders urged the international community to prevent and respond to DPRK’s sanctions evasion so that it abandons its illegal nuclear and ballistic missile development.  To this end, they decided to work closely with each other and the international community to combat the DPRK’s illegal and malicious cyber activities, cryptocurrency theft, overseas laborer dispatches, and ship-to-ship transfers.  The Secretary and Minister expressed concern that Russia-DPRK military cooperation, which has been intensified since the signing of a Comprehensive Strategic Partnership Treaty between the two, is deepening regional instability.  The two leaders made clear that military cooperation, including illegal arms trade and high-technology transfers between Russia and the DPRK, constitute a clear violation of UNSCRs, and called on Russia to uphold its commitments.  The two leaders also strongly condemned in the strongest terms with one voice that the military cooperation between Russia and the DPRK has expanded beyond transfers of military supplies to actual deployment of forces, and pledged to closely coordinate with the international community regarding this issue. 

    7. Both leaders reiterated the willingness of their Presidents to pursue dialogue and diplomacy, backed by a robust and credible deterrence and defense posture.  In this regard, Secretary Austin expressed support for the goals of the ROK’s Audacious Initiative and President Yoon’s vision of a free, peaceful, and prosperous unified Korean Peninsula, and welcomed President Yoon’s desire to open a path for serious and sustained diplomacy with the DPRK.  Both sides reaffirmed that they remain open to dialogue with the DPRK without preconditions and pledged to continue close coordination.

    8. The Minister and the Secretary noted concerns that the DPRK’s claims of “two hostile countries,” and activities near the Military Demarcation Line (MDL) could threaten peace and the Armistice on the Korean Peninsula.  The two leaders strongly condemned DPRK’s activities that raise tension on the Korean Peninsula, such as multiple unmanned aerial vehicle (UAV) infiltrations in the past, as well as the recent unilateral detonation of sections of inter-Korean roads and ongoing launches of “filth and trash balloons,” and urged the DPRK to immediately cease such activities.  The Secretary and the Minister concurred that the Armistice Agreement remains in effect as an international norm guaranteeing the stable security order on the Korean Peninsula, and that all parties of the Korean War should abide by it while it remains in force.  Both sides noted that the Northern Limit Line (NLL) has been an effective means of separating military forces and preventing military tension over the past 70 years, and urged the DPRK to respect the NLL.

    9. Secretary Austin and Minister Kim reaffirmed the role of the United Nations Command (UNC) in implementing, managing, and enforcing the Korean Armistice Agreement, deterring DPRK aggression, and coordinating a multinational, united response in case of contingencies on the Korean Peninsula.  They reaffirmed that UNC has successfully contributed to those aims for more than 70 years and continues to carry out its mission with the utmost respect for the sovereignty of ROK, the primary host nation.  Both sides welcomed the successful organization of the second ROK-UNC Member States Defense Ministerial Meeting and expressed their appreciation for UNC Member State contributions.  They welcomed the addition of Germany to UNC, and noted that peace and prosperity in the Indo-Pacific, including the Korean Peninsula, and Euro-Atlantic regions are increasingly connected.  The two leaders are determined to continue seeking the expanded participation in UNC by like-minded countries that share the values of the 1953 Washington Declaration, anchored in the principles of the UN Charter and mandates of relevant UNSCRs. Secretary Austin thanked Minister Kim for the ROK’s efforts to support the UNC’s role to maintain and enforce the Armistice Agreement, and to support the defense of the ROK against DPRK aggression.  In this regard, the Secretary and Minister both highlighted their desire to expand combined exercises, information sharing, and interoperability between the ROK, the Combined Forces Command, and UNC Member States.

    10. The Secretary and the Minister also noted the critical role that U.S. forces in the ROK have played for more than 70 years and reaffirmed that U.S. Forces Korea (USFK) continues to play a decisive role in preventing armed conflict on the Korean Peninsula, and in promoting peace and stability in Northeast Asia.  Secretary Austin reiterated the U.S. commitment to maintain current USFK force levels to defend the ROK. 

    11. The Secretary and Minister also reviewed the work of the various bilateral mechanisms such as the U.S.-Korea Integrated Defense Dialogue (KIDD).  They welcomed efforts to enhance information sharing through the U.S. Shared Early Warning System (SEWS) for strengthening the Alliance’s detection capabilities in response to advancing DPRK missile threats.  They also commended the work of the Counter-Missile Working Group (CMWG) and reviewed “the Joint Study on Alliance Comprehensive Counter-Missile Strategy” aimed at informing recommendations for counter-missile capabilities and posture of ROK and United States.  The Secretary and Minister also discussed concrete efforts to strengthen cooperation in space and cyber to robustly deter and defend against growing threats.  They endorsed efforts by the Space Cooperation Working Group (SCWG) to improve space situational awareness information sharing and interoperability, and acknowledged the need to expand ROK participation in exercises and training that can strengthen Alliance space capability and improve resilience against growing space threats.  In particular, the Secretary also welcomed ROK participation in the Joint Commercial Operations (JCO) cell to leverage space industry and strengthen allied space capabilities.  The Secretary and Minister also pledged to deepen cyber cooperation through the Cyber Cooperation Working Group and improve coordination through cyber defense exercises, such as Cyber Alliance and Cyber Flag.  Overall, both leaders expressed appreciation for the continuing cooperation to ensure the Alliance’s space, cyber, and counter-missile efforts to keep pace with the evolving threats posed by the DPRK.

    12. Noting the importance of science and technology (S&T) cooperation, the Secretary and Minister decided to establish the Defense Science and Technology Executive Committee (DSTEC) at the Vice-Minister-Under Secretary level within this year, to guide and prioritize Alliance defense S&T cooperation.  They noted priority areas for cooperation including autonomy, artificial intelligence, and crewed-uncrewed teaming are particularly vital to ensure the ROK is able to achieve the goals of Defense Innovation 4.0 and modernize Alliance capabilities.  Both leaders also welcomed future S&T cooperation related to quantum technologies, future-generation wireless communication technologies, and directed energy to ensure that S&T advancements enhance the combined capabilities of the Alliance.  This included efforts to identify potential areas of collaboration on AUKUS Pillar II.  The Secretary welcomed the Minister’s proposal to host a Defense Science and Technology conference in 2025, and concurred that the DSTEC should leverage this conference to baseline and prioritize Alliance defense S&T collaboration.

    13. The Secretary and Minister also reviewed efforts to improve the interoperability, interchangeability, and resilience of the U.S. and ROK defense industrial base.  They underscored the need to improve efficient and effective collaboration in the development, acquisition, fielding, logistics, sustainment, and maintenance of defense capabilities, and to ensure that S&T advancements are swiftly and seamlessly transitioned into acquisition and sustainment efforts.  Both leaders welcomed progress under the U.S. Regional Sustainment Framework (RSF) and welcomed ROK participation in a Maintenance, Repair, and Overhaul (MRO) pilot project on Air Force aviation maintenance.  The two leaders noted that this pilot project could lead to more bilateral co-sustainment opportunities, and also expand defense industrial collaboration with like-minded partners in the region in light of the ROK’s key role in the Partnership for Indo-Pacific Industrial Resilience (PIPIR) contact group.  The Secretary and Minister also noted with satisfaction the recent U.S. Navy contract with ROK shipyards to conduct MRO services for U.S. vessels, and underscored the potential to expand such work to improve the resilience of the Alliance’s posture in the Indo-Pacific Region.  The Secretary and Minister also recognized the need to improve reciprocal market access to deepen defense industrial cooperation and enhance supply chain resiliency, and are committed to accelerate cooperation with the goal of signing the Reciprocal Defense Procurement Agreement next year based on guidance from both Presidents.

    14. The Secretary and the Minister received and endorsed the MCM Report to the SCM presented by the U.S. Chairman of the Joint Chiefs of Staff, General Charles Q. Brown.  They welcomed the efforts of General Brown, Admiral Kim, and the MCM to enhance military plans, posture, training, exercises, and efforts to coordinate U.S.-ROK Combined Forces Command (CFC) activities and enhance military strength of the Alliance.  The Secretary and Minister concurred that the Freedom Shield 24 (FS 24) and Ulchi Freedom Shield 24 (UFS 24) exercises, which included realistic threats from the DPRK advancing nuclear, missile, space, and cyber threats, enhanced the Alliance’s crisis management and strengthened deterrence and defense capabilities.  In addition, they assessed that combined field training exercises (FTX), which were more extensive than the past year and conducted in land, maritime and air domains, enhanced interoperability and combined operations execution capabilities.  Based on such outcomes, both leaders decided to continue strengthening combined exercises and training in line with the rapidly changing security environment of the Korean Peninsula, and further decided that future combined exercises should include appropriate and realistic scenarios including responses to DPRK nuclear use.  The Secretary and the Minister also emphasized that ensuring consistent training opportunities for USFK is critical to maintaining a strong combined defense posture.  Secretary Austin noted the efforts of ROK Ministry of National Defense (MND) to improve the training conditions for U.S. and ROK forces and stressed the importance of maintaining close cooperation between USFK and MND for the joint use of ROK facilities and airspace for training. 

    15. Given the growth and diversification of the DPRK’s chemical, biological, radiological, and nuclear (CBRN) weapons and delivery systems, both leaders assessed efforts and works to ensure execution of Alliance missions under a CBRN-challenged environment.  In particular, they welcomed progress by the Countering Weapons of Mass Destruction Committee (CWMDC), including the expansion of information sharing required for nuclear elimination operations consistent with the Nuclear Weapons Non-proliferation Treaty (NPT), and the strengthening of cooperation to prevent proliferation of WMD in the Indo-Pacific region. Both leaders welcomed continued multinational counter-proliferation activities in the region amidst advancements of DPRK nuclear and missile program and intensification of arms trade between Russia and the DPRK following the Comprehensive Strategic Partnership Treaty.  Secretary Austin expressed appreciation for ROK contributions to various global security efforts such as Proliferation Security Initiative (PSI), and the Minister and the Secretary concurred on the importance of maintaining cooperative efforts to enforce relevant counter-proliferation UNSCRs.

    16. The Secretary and Minister also reviewed the progress and works to fulfill the Conditions-based Wartime Operational Control (OPCON) Transition Plan (COTP).  Both leaders reaffirmed that the conditions stated in the bilaterally approved COTP must be met before wartime OPCON is transitioned in a stable and systematic manner.  They received the results of the annual U.S.-ROK bilateral evaluation on the capabilities and systems for conditions #1 and #2 based on the bilaterally-approved assessment criteria and standards.  Both leaders affirmed that there was a significant progress of this year’s bilateral evaluation on readiness posture and capabilities, and pledged to continue close consultations between the ROK and the United States. for the establishment of the Future-CFC.  The Secretary and the Minister also reaffirmed that Future-CFC Full Operational Capability (FOC) Certification would be pursued when the results of the bilateral evaluation on the capabilities and systems of conditions #1 and #2 meet the mutually approved levels.  Regarding condition #3, the Secretary and the Minister decided to remain in close consultation for the assessment of the security environment.  Both sides pledged to support continued evaluation and progress in wartime OPCON transition implementation through annual MCMs and SCMs, and affirmed that the wartime OPCON transition would strengthen ROK and Alliance capabilities and the combined defense posture. 

    17. The Secretary and the Minister reviewed the regional security environment, and plans to expand U.S.-ROK security cooperation throughout the Indo-Pacific region to support maintaining a free and open Indo-Pacific that is connected, prosperous, secure, and resilient.  They also reaffirmed support for Association of Southeast Asian Nation (ASEAN) centrality and the ASEAN-led regional architecture as well as regional efforts of the Pacific Islands Forum.  In particular, the two leaders noted the importance of enhancing cooperation during the implementation of both the ROK and U.S. respective strategies for the Indo-Pacific region.  To this end, the Secretary and the Minister endorsed the “Regional Cooperation Framework for U.S.-ROK Alliance Contributions to Security in the Indo-Pacific,” and discussed priorities areas and partners to better respond to the complex regional and global security situation.  After reviewing the work of the ROK-U.S. Regional Cooperation Working Group (RCWG), both leaders reaffirmed their commitment to strengthen defense cooperation with ASEAN members and work together with the Pacific Island Countries to contribute to regional security.  The Secretary and the Minister also acknowledged the importance of preserving peace and stability in the Taiwan Strait as reflected in the April 2023 “Joint Statement in Commemoration of the 70th Anniversary of the Alliance between the United States of America and the Republic of Korea.”  

    18. The Secretary and the Minister reflected on the remarkable progress made during 2024 to fulfill the historic understandings at the Camp David Summit.  They welcomed the Memorandum of Cooperation on the Trilateral Security Cooperation Framework (TSCF), signed by the Ministers and the Secretary of the United States, ROK, and Japan in July, along with enhanced sharing of missile warning information and efforts to systematically conduct trilateral exercises, including the first execution of the multi-domain trilateral exercise FREEDOM EDGE.  The Secretary and the Minister reaffirmed their commitment to continuing to promote and expand trilateral security cooperation including senior-level policy consultations, trilateral exercises, information sharing, and defense exchange cooperation.

    19. The two sides also took the opportunity to reaffirm that expediting the relocation and return of U.S. military bases in the ROK is in the interests of both countries, and decided to work closely to ensure the timely return of the bases in accordance with the Status of Forces Agreement (SOFA) and related agreements.  The two leaders noted the significance of the complete construction of Yongsan Park, and pledged to expedite the remaining return of Yongsan Garrison.  The Minister and the Secretary also reaffirmed their mutual commitment to discuss the return of other U.S. military bases through regular consultations through SOFA channels to reach mutually acceptable outcomes in the future.

    20. Secretary Austin expressed his gratitude that the ROK is contributing toward ensuring a stable environment for U.S. Forces Korea.  The Secretary and Minister also welcomed the recent conclusion of consultations related to a 12th Special Measures Agreement (SMA), and concurred that it would greatly contribute to the strengthening of the U.S.-ROK combined defense posture.

    21. Secretary Austin and Minister Kim affirmed that the discussions during the 56th SCM and the 49th MCM contributed to strengthening the U.S.-ROK Alliance with a vision toward the further development of a truly global alliance.  The two leaders commended the U.S. and ROK military and civilian personnel that worked to strengthen the bond of the Alliance, and expressed appreciation for their shared commitment and sacrifice.  Both sides expect to hold the 57th SCM and 50th MCM in Seoul at a mutually convenient time in 2025.

    MIL OSI USA News –

  • MIL-OSI: Enovix Announces Proposed Public Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — Enovix Corporation (“Enovix”) (NASDAQ: ENVX), a global high-performance battery company, today announced that it has commenced an underwritten public offering of $100.0 million of shares of its common stock, subject to market and other conditions. In connection with the offering, Enovix expects to grant the underwriter a 30-day option to purchase up to an additional $15.0 million of the shares of common stock offered in the public offering. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares of common stock in the offering will be sold by Enovix.

    Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

    Enovix intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments, for general corporate purposes, and for working capital and capital expenses to achieve high-volume manufacturing at its high-volume production facility “Fab2” in Penang, Malaysia.

    The securities described above are being offered by Enovix pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed on August 9, 2023 and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on August 18, 2023. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, or by email at prospectus@cantor.com.

    This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.

    About Enovix
    Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Enovix’s anticipated public offering. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “achieve”, “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

    Any forward-looking statements in this press release, such as the intended offering terms, are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions, the completion of the public offering on the anticipated terms or at all and Enovix’s intention to grant the underwriter an option to purchase additional shares. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Enovix’s Annual Report on Form 10-K for the year ended December 31, 2023, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024. In addition, any forward-looking statements contained in this press release represent the Enovix’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Enovix explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

    For investor and media inquiries, please contact:

    Enovix Corporation
    Robert Lahey
    Email: ir@enovix.com

    The MIL Network –

  • MIL-OSI: Credit Acceptance Announces Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Southfield, Michigan, Oct. 30, 2024 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $78.8 million, or $6.35 per diluted share, for the three months ended September 30, 2024 compared to consolidated net income of $70.8 million, or $5.43 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended September 30, 2024 was $109.1 million, or $8.79 per diluted share, compared to $139.5 million, or $10.70 per diluted share, for the same period in 2023. The following table summarizes our financial results:

    (In millions, except per share data)   For the Three Months Ended   For the Nine Months Ended
        September 30, 2024   June 30, 2024   September 30, 2023     September 30, 2024     September 30, 2023
    GAAP net income (loss)   $         78.8    $         (47.1)     $         70.8    $         96.0    $         192.5 
    GAAP net income (loss) per diluted share   $         6.35    $         (3.83)     $         5.43    $         7.68    $         14.73 
                         
    Adjusted net income (1)   $         109.1    $         126.4      $         139.5    $         352.9    $         406.5 
    Adjusted net income per diluted share (1)   $         8.79    $         10.29      $         10.70    $         28.25    $         31.10 

    (1)   Represents a non-GAAP financial measure.

    Our results for the third quarter of 2024 in comparison to the third quarter of 2023 included:

    • A similar decline in forecasted collection rates
      A decline in forecasted collection rates decreased forecasted net cash flows from our loan portfolio by $62.8 million, or 0.6%, compared to a decrease in forecasted collection rates during the third quarter of 2023 that decreased forecasted net cash flows from our loan portfolio by $69.4 million, or 0.7%.
    • A decrease in forecasted profitability for Consumer Loans assigned in 2021 through 2024
      Forecasted profitability was lower than our estimates at September 30, 2023, due to both a decline in forecasted collection rates and slower forecasted net cash flow timing since the third quarter of 2023. The slower forecasted net cash flow timing was primarily a result of a decrease in Consumer Loan prepayments, which remain at below-average levels.
    • Growth in Consumer Loan assignment volume and the average balance of our loan portfolio
      Unit and dollar volumes grew 17.7% and 12.2%, respectively, as compared to the third quarter of 2023. The average balance of our loan portfolio, which is our largest-ever, increased 14.9% and 18.6% on a GAAP and adjusted basis, respectively, as compared to the third quarter of 2023.
    • An increase in the initial spread on Consumer Loan assignments
      The initial spread increased to 21.9% compared to 21.4% on Consumer Loans assigned in the third quarter of 2023.
    • An increase in our average cost of debt
      Our average cost of debt increased from 5.8% to 7.3%, primarily a result of higher interest rates on recently completed or extended secured financings and recently issued senior notes and the repayment of older secured financings and senior notes with lower interest rates.
    • A decrease in common shares outstanding due to stock repurchases
      Since the third quarter of 2023, we have repurchased approximately 566,000 shares, or 4.5% of the shares outstanding as of September 30, 2023. There were no stock repurchases during the third quarter of 2024.

    Our results for the third quarter of 2024 in comparison to the second quarter of 2024 included:

    • A smaller decline in forecasted collection rates
      A decline in forecasted collection rates decreased forecasted net cash flows from our loan portfolio by $62.8 million, or 0.6%, compared to a decrease in forecasted collection rates during the second quarter of 2024 that decreased forecasted net cash flows from our loan portfolio by $189.3 million, or 1.7%. The $189.3 million decrease in forecasted net cash flows for the second quarter of 2024 was composed of an ordinary decrease in forecasted net cash flows of $42.1 million, or 0.3%, and an adjustment applied to our forecasting methodology, which upon implementation, reduced forecasted net cash flows by $147.2 million, or 1.4%.
    • A decrease in forecasted profitability for Consumer Loans assigned in 2021 through 2024
      Forecasted profitability was lower than our estimates at June 30, 2024, due to both the decline in forecasted collection rates and the slower forecasted net cash flow timing during the third quarter of 2024 discussed above.
    • Growth in the average balance of our loan portfolio
      The average balance of our loan portfolio, which is our largest-ever, increased 2.6% and 4.3% on a GAAP and adjusted basis, respectively, as compared to the second quarter of 2024.
    • Loss on sale of building
      We recognized a $23.7 million loss during the second quarter of 2024 related to the sale of one of our two office buildings, which we have excluded from our adjusted results. The building was sold to reduce excess office space and eliminate the associated annual operating costs of approximately $2.1 million.

    Consumer Loan Metrics

    Dealers assign retail installment contracts (referred to as “Consumer Loans”) to Credit Acceptance. At the time a Consumer Loan is submitted to us for assignment, we forecast future expected cash flows from the Consumer Loan. Based on the amount and timing of these forecasts and expected expense levels, an advance or one-time purchase payment is made to the related dealer at a price designed to maximize economic profit, a non-GAAP financial measure that considers our return on capital, our cost of capital, and the amount of capital invested. 

    We use a statistical model to estimate the expected collection rate for each Consumer Loan at the time of assignment. We continue to evaluate the expected collection rate for each Consumer Loan subsequent to assignment. Our evaluation becomes more accurate as the Consumer Loans age, as we use actual performance data in our forecast. By comparing our current expected collection rate for each Consumer Loan with the rate we projected at the time of assignment, we are able to assess the accuracy of our initial forecast. The following table compares our aggregated forecast of Consumer Loan collection rates as of September 30, 2024, with the aggregated forecasts as of June 30, 2024, as of December 31, 2023, and at the time of assignment, segmented by year of assignment:

        Forecasted Collection Percentage as of (1)   Current Forecast Variance from
     Consumer Loan Assignment Year   September 30, 2024   June 30, 2024   December 31, 2023   Initial
    Forecast    		   June 30, 2024   December 31, 2023   Initial
    Forecast
    2015           65.3  %           65.3  %           65.2  %           67.7  %           0.0  %           0.1  %           -2.4  %
    2016           63.9  %           63.9  %           63.8  %           65.4  %           0.0  %           0.1  %           -1.5  %
    2017           64.7  %           64.7  %           64.7  %           64.0  %           0.0  %           0.0  %           0.7  %
    2018           65.5  %           65.5  %           65.5  %           63.6  %           0.0  %           0.0  %           1.9  %
    2019           67.2  %           67.1  %           66.9  %           64.0  %           0.1  %           0.3  %           3.2  %
    2020           67.6  %           67.7  %           67.6  %           63.4  %           -0.1  %           0.0  %           4.2  %
    2021           63.8  %           64.1  %           64.5  %           66.3  %           -0.3  %           -0.7  %           -2.5  %
    2022           60.6  %           61.1  %           62.7  %           67.5  %           -0.5  %           -2.1  %           -6.9  %
    2023           64.3  %           64.5  %           67.4  %           67.5  %           -0.2  %           -3.1  %           -3.2  %
         2024 (2)           66.6  %           66.6  %           —              67.3  %           0.0  %           —              -0.7  %

    (1)   Represents the total forecasted collections we expect to collect on the Consumer Loans as a percentage of the repayments that we were contractually owed on the Consumer Loans at the time of assignment. Contractual repayments include both principal and interest. Forecasted collection rates are negatively impacted by canceled Consumer Loans as the contractual amount owed is not removed from the denominator for purposes of computing forecasted collection rates.
    (2)   The forecasted collection rate for 2024 Consumer Loans as of September 30, 2024 includes both Consumer Loans that were in our portfolio as of June 30, 2024 and Consumer Loans assigned during the most recent quarter. The following table provides forecasted collection rates for each of these segments:

        Forecasted Collection Percentage as of   Current Forecast Variance from
    2024 Consumer Loan Assignment Period   September 30, 2024   June 30, 2024   Initial
    Forecast    		   June 30, 2024   Initial
    Forecast
    January 1, 2024 through June 30, 2024           66.4  %           66.6  %           67.2  %           -0.2  %           -0.8  %
    July 1, 2024 through September 30, 2024           67.0  %           —              67.3  %           —              -0.3  %

    Consumer Loans assigned in 2018 through 2020 have yielded forecasted collection results significantly better than our initial estimates, while Consumer Loans assigned in 2015, 2016, and 2021 through 2023 have yielded forecasted collection results significantly worse than our initial estimates. For all other assignment years presented, actual results have been close to our initial estimates. For the three months ended September 30, 2024, forecasted collection rates declined for Consumer Loans assigned in 2021 through 2024 and were generally consistent with expectations at the start of the period for all other assignment years presented. For the nine months ended September 30, 2024, forecasted collection rates improved for Consumer Loans assigned in 2019, declined for Consumer Loans assigned in 2021 through 2024, and were generally consistent with expectations at the start of the period for all other assignment years presented.

    The changes in forecasted collection rates for the three and nine months ended September 30, 2024 and 2023 impacted forecasted net cash flows (forecasted collections less forecasted dealer holdback payments) as follows:

    (Dollars in millions)   For the Three Months Ended September 30,   For the Nine Months Ended September 30,
    Decrease in Forecasted Net Cash Flows     2024       2023       2024       2023  
    Dealer loans   $         (43.6)     $         (40.3)     $         (173.0)     $         (89.3)  
    Purchased loans             (19.2)               (29.1)               (109.9)               (60.0)  
    Total   $         (62.8)     $         (69.4)     $         (282.9)     $         (149.3)  
    % change from forecast at beginning of period             -0.6  %             -0.7  %             -2.8  %             -1.7  %

    During the second quarter of 2024, we applied an adjustment to our methodology for forecasting the amount of future net cash flows from our loan portfolio, which reduced the forecasted collection rates for Consumer Loans assigned in 2022 through 2024. Consumer Loans assigned in 2022 had continued to underperform our expectations for several quarters. More recently, Consumer Loans assigned in 2023 had also begun exhibiting similar trends of underperformance, although not as severe as Consumer Loans assigned in 2022. During the second quarter of 2024, we determined that we had sufficient Consumer Loan performance experience to estimate the magnitude by which we expected Consumer Loans assigned in 2022 through 2024 would likely underperform our historical collection rates on Consumer Loans with similar characteristics. Accordingly, we applied an adjustment to Consumer Loans assigned in 2022 through 2024 to reduce forecasted collection rates to what we believed the ultimate collection rates would be based on these trends. Changes in the amount and timing of forecasted net cash flows are recognized in the period of change as a provision for credit losses. The implementation of this forecast adjustment during the second quarter of 2024 reduced forecasted net cash flows by $147.2 million, or 1.4%, and increased provision for credit losses by $127.5 million.

    During the second quarter of 2023, we adjusted our methodology for forecasting the amount and timing of future net cash flows from our loan portfolio through the utilization of more recent Consumer Loan performance and Consumer Loan prepayment data. We had experienced a decrease in Consumer Loan prepayments to below-average levels and as a result, slowed our forecasted net cash flow timing. Historically, Consumer Loan prepayments have been lower in periods with less availability of consumer credit. Changes in the amount and timing of forecasted net cash flows are recognized in the period of change as a provision for credit losses. The implementation of the adjustment to our forecasting methodology during the second quarter of 2023 reduced forecasted net cash flows by $44.5 million, or 0.5%, and increased provision for credit losses by $71.3 million.

    We have experienced increased levels of uncertainty associated with our estimate of the amount and timing of future net cash flows from our loan portfolio since the beginning of 2020, with realized collections underperforming our expectations during the early stages of the COVID-19 pandemic, outperforming our expectations following the distribution of federal stimulus payments and enhanced unemployment benefits, and underperforming our expectations during the current economic environment. For the period from January 1, 2020 through September 30, 2024, the cumulative change to our forecast of future net cash flows from our loan portfolio has been a decrease of $269.1 million, or 3.0%, as shown in the following table:

    (Dollars in millions)   Increase (Decrease) in Forecasted Net Cash Flows
    Three Months Ended   Total Loans   % Change from Forecast at Beginning of Period
    March 31, 2020   $         (206.5)             -2.3  %
    June 30, 2020             24.4              0.3  %
    September 30, 2020             138.5              1.5  %
    December 31, 2020             (2.7)             0.0  %
    March 31, 2021             107.4              1.1  %
    June 30, 2021             104.5              1.1  %
    September 30, 2021             82.3              0.9  %
    December 31, 2021             31.9              0.3  %
    March 31, 2022             110.2              1.2  %
    June 30, 2022             (43.4)             -0.5  %
    September 30, 2022             (85.4)             -0.9  %
    December 31, 2022             (41.1)             -0.5  %
    March 31, 2023             9.4              0.1  %
    June 30, 2023             (89.3)             -0.9  %
    September 30, 2023             (69.4)             -0.7  %
    December 31, 2023             (57.0)             -0.6  %
    March 31, 2024             (30.8)             -0.3  %
    June 30, 2024             (189.3)             -1.7  %
    September 30, 2024             (62.8)             -0.6  %
    Total   $         (269.1)             -3.0  %

    The following table presents information on Consumer Loan assignments for each of the last 10 years:

         Average   Total Assignment Volume
     Consumer Loan
    Assignment Year    		   Consumer Loan (1)   Advance (2)   Initial Loan Term (in months)   Unit Volume   Dollar Volume (2)
    (in millions)
    2015   $         16,354   $         7,272   50   298,288   $         2,167.0
    2016     18,218     7,976   53   330,710     2,635.5
    2017     20,230     8,746   55   328,507     2,873.1
    2018     22,158     9,635   57   373,329     3,595.8
    2019     23,139     10,174   57   369,805     3,772.2
    2020     24,262     10,656   59   341,967     3,641.2
    2021     25,632     11,790   59   268,730     3,167.8
    2022     27,242     12,924   60   280,467     3,625.3
    2023     27,025     12,475   61   332,499     4,147.8
              2024 (3)(4)     26,564     12,018   61   307,215     3,692.1

    (1)   Represents the repayments that we were contractually owed on Consumer Loans at the time of assignment, which include both principal and interest.
    (2)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program. Payments of dealer holdback and accelerated dealer holdback are not included.
    (3)   Represents activity for the nine months ended September 30, 2024. Information in this table for each of the years prior to 2024 represents activity for all 12 months of that year.
    (4)   The averages for 2024 Consumer Loans include both Consumer Loans that were in our portfolio as of June 30, 2024 and Consumer Loans assigned during the most recent quarter. The following table provides averages for each of these segments:

        Average
    2024 Consumer Loan Assignment Period   Consumer Loan   Advance   Initial Loan Term (in months)
    January 1, 2024 through June 30, 2024   $         26,554   $         12,033           61
    July 1, 2024 through September 30, 2024             26,586             11,985           61

    The profitability of our loans is primarily driven by the amount and timing of the net cash flows we receive from the spread between the forecasted collection rate and the advance rate, less operating expenses and the cost of capital. Forecasting collection rates accurately at loan inception is difficult. With this in mind, we establish advance rates that are intended to allow us to achieve acceptable levels of profitability across our portfolio, even if collection rates are less than we initially forecast.

    The following table presents aggregate forecasted Consumer Loan collection rates, advance rates, and spreads (the forecasted collection rate less the advance rate), and the percentage of the forecasted collections that had been realized as of September 30, 2024, as well as forecasted collection rates and spreads at the time of assignment. All amounts, unless otherwise noted, are presented as a percentage of the initial balance of the Consumer Loan (principal + interest). The table includes both dealer loans and purchased loans.

        Forecasted Collection % as of       Spread % as of    
     Consumer Loan Assignment Year   September 30, 2024   Initial Forecast   Advance % (1)   September 30, 2024   Initial Forecast   % of Forecast
    Realized (2)
    2015           65.3  %           67.7  %           44.5  %           20.8  %           23.2  %           99.7  %
    2016           63.9  %           65.4  %           43.8  %           20.1  %           21.6  %           99.4  %
    2017           64.7  %           64.0  %           43.2  %           21.5  %           20.8  %           99.1  %
    2018           65.5  %           63.6  %           43.5  %           22.0  %           20.1  %           98.4  %
    2019           67.2  %           64.0  %           44.0  %           23.2  %           20.0  %           96.1  %
    2020           67.6  %           63.4  %           43.9  %           23.7  %           19.5  %           90.8  %
    2021           63.8  %           66.3  %           46.0  %           17.8  %           20.3  %           80.8  %
    2022           60.6  %           67.5  %           47.4  %           13.2  %           20.1  %           61.3  %
    2023           64.3  %           67.5  %           46.2  %           18.1  %           21.3  %           36.8  %
         2024 (3)           66.6  %           67.3  %           45.3  %           21.3  %           22.0  %           10.7  %

    (1)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program as a percentage of the initial balance of the Consumer Loans.  Payments of dealer holdback and accelerated dealer holdback are not included.
    (2)   Presented as a percentage of total forecasted collections.
    (3)   The forecasted collection rate, advance rate and spread for 2024 Consumer Loans as of September 30, 2024 include both Consumer Loans that were in our portfolio as of June 30, 2024 and Consumer Loans assigned during the most recent quarter. The following table provides forecasted collection rates, advance rates, and spreads for each of these segments:

        Forecasted Collection % as of       Spread % as of
    2024 Consumer Loan Assignment Period   September 30, 2024   Initial Forecast   Advance %   September 30, 2024   Initial Forecast
    January 1, 2024 through June 30, 2024           66.4  %           67.2  %           45.2  %           21.2  %           22.0  %
    July 1, 2024 through September 30, 2024           67.0  %           67.3  %           45.4  %           21.6  %           21.9  %

    The risk of a material change in our forecasted collection rate declines as the Consumer Loans age. For 2020 and prior Consumer Loan assignments, the risk of a material forecast variance is modest, as we have currently realized in excess of 90% of the expected collections. Conversely, the forecasted collection rates for more recent Consumer Loan assignments are less certain as a significant portion of our forecast has not been realized.

    The spread between the forecasted collection rate as of September 30, 2024 and the advance rate ranges from 13.2% to 23.7%, on an annual basis, for Consumer Loans assigned over the last 10 years. The spreads with respect to 2019 and 2020 Consumer Loans have been positively impacted by Consumer Loan performance, which has exceeded our initial estimates by a greater margin than the other years presented. The spread with respect to 2022 Consumer Loans has been negatively impacted by Consumer Loan performance, which has been lower than our initial estimates by a greater margin than the other years presented. The higher spread for 2024 Consumer Loans relative to 2023 Consumer Loans as of September 30, 2024 was primarily a result of Consumer Loan performance, as the performance of 2023 Consumer Loans has been lower than our initial estimates by a greater margin than 2024 Consumer Loans. Additionally, 2024 Consumer Loans had a higher initial spread, which was primarily due to a decrease in the advance rate.

    The following table compares our forecast of aggregate Consumer Loan collection rates as of September 30, 2024 with the forecasts at the time of assignment, for dealer loans and purchased loans separately:

        Dealer Loans   Purchased Loans
        Forecasted Collection Percentage as of (1)       Forecasted Collection Percentage as of (1)    
     Consumer Loan Assignment Year   September 30,
    2024    		   Initial
    Forecast    		   Variance   September 30,
    2024    		   Initial
    Forecast    		   Variance
    2015           64.6  %           67.5  %           -2.9  %           69.0  %           68.5  %           0.5  %
    2016           63.1  %           65.1  %           -2.0  %           66.1  %           66.5  %           -0.4  %
    2017           64.0  %           63.8  %           0.2  %           66.3  %           64.6  %           1.7  %
    2018           64.9  %           63.6  %           1.3  %           66.8  %           63.5  %           3.3  %
    2019           66.8  %           63.9  %           2.9  %           67.9  %           64.2  %           3.7  %
    2020           67.5  %           63.3  %           4.2  %           67.9  %           63.6  %           4.3  %
    2021           63.5  %           66.3  %           -2.8  %           64.3  %           66.3  %           -2.0  %
    2022           59.8  %           67.3  %           -7.5  %           62.4  %           68.0  %           -5.6  %
    2023           63.1  %           66.8  %           -3.7  %           67.6  %           69.4  %           -1.8  %
    2024           65.5  %           66.3  %           -0.8  %           70.5  %           70.7  %           -0.2  %

    (1)   The forecasted collection rates presented for dealer loans and purchased loans reflect the Consumer Loan classification at the time of assignment. The forecasted collection rates represent the total forecasted collections we expect to collect on the Consumer Loans as a percentage of the repayments that we were contractually owed on the Consumer Loans at the time of assignment. Contractual repayments include both principal and interest. Forecasted collection rates are negatively impacted by canceled Consumer Loans as the contractual amount owed is not removed from the denominator for purposes of computing forecasted collection rates.

    The following table presents aggregate forecasted Consumer Loan collection rates, advance rates, and spreads (the forecasted collection rate less the advance rate) as of September 30, 2024 for dealer loans and purchased loans separately.  All amounts are presented as a percentage of the initial balance of the Consumer Loan (principal + interest).

        Dealer Loans   Purchased Loans
     Consumer Loan Assignment Year   Forecasted Collection % (1)   Advance % (1)(2)   Spread %   Forecasted Collection % (1)   Advance % (1)(2)   Spread %
    2015           64.6  %           43.4  %           21.2  %           69.0  %           50.2  %           18.8  %
    2016           63.1  %           42.1  %           21.0  %           66.1  %           48.6  %           17.5  %
    2017           64.0  %           42.1  %           21.9  %           66.3  %           45.8  %           20.5  %
    2018           64.9  %           42.7  %           22.2  %           66.8  %           45.2  %           21.6  %
    2019           66.8  %           43.1  %           23.7  %           67.9  %           45.6  %           22.3  %
    2020           67.5  %           43.0  %           24.5  %           67.9  %           45.5  %           22.4  %
    2021           63.5  %           45.1  %           18.4  %           64.3  %           47.7  %           16.6  %
    2022           59.8  %           46.4  %           13.4  %           62.4  %           50.1  %           12.3  %
    2023           63.1  %           44.8  %           18.3  %           67.6  %           49.8  %           17.8  %
    2024           65.5  %           44.3  %           21.2  %           70.5  %           49.0  %           21.5  %

    (1)   The forecasted collection rates and advance rates presented for dealer loans and purchased loans reflect the Consumer Loan classification at the time of assignment.
    (2)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program as a percentage of the initial balance of the Consumer Loans.  Payments of dealer holdback and accelerated dealer holdback are not included.

    Although the advance rate on purchased loans is higher as compared to the advance rate on dealer loans, purchased loans do not require us to pay dealer holdback.

    The spread as of September 30, 2024 on 2024 dealer loans was 21.2%, as compared to a spread of 18.3% on 2023 dealer loans. The increase was due to Consumer Loan performance, as the performance of 2023 dealer loans has been lower than our initial estimates by a greater margin than 2024 dealer loans.

    The spread as of September 30, 2024 on 2024 purchased loans was 21.5%, as compared to a spread of 17.8% on 2023 purchased loans. The increase was primarily a result of a higher initial spread on 2024 purchased loans, due to a higher initial forecast and lower advance rate. Additionally, the performance of 2023 purchased loans has been lower than our initial estimates by a greater margin than 2024 purchased loans.

    Consumer Loan Volume

    The following table summarizes changes in Consumer Loan assignment volume in each of the last seven quarters as compared to the same period in the previous year:

        Year over Year Percent Change
    Three Months Ended   Unit Volume   Dollar Volume (1)
    March 31, 2023           22.8  %           18.6  %
    June 30, 2023           12.8  %           8.3  %
    September 30, 2023           13.0  %           10.5  %
    December 31, 2023           26.7  %           21.3  %
    March 31, 2024           24.1  %           20.2  %
    June 30, 2024           20.9  %           16.3  %
    September 30, 2024           17.7  %           12.2  %

    (1)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program.  Payments of dealer holdback and accelerated dealer holdback are not included.

    Consumer Loan assignment volumes depend on a number of factors including (1) the overall demand for our financing programs, (2) the amount of capital available to fund new loans, and (3) our assessment of the volume that our infrastructure can support. Our pricing strategy is intended to maximize the amount of economic profit we generate, within the confines of capital and infrastructure constraints.

    Unit and dollar volumes grew 17.7% and 12.2%, respectively, during the third quarter of 2024 as the number of active dealers grew 8.8% and the average unit volume per active dealer increased 8.4%. Dollar volume increased less than unit volume during the third quarter of 2024 due to a decrease in the average advance paid, due to decreases in the average size of Consumer Loans assigned and the average advance rate. Unit volume for the 28-day period ended October 28, 2024 grew 4.6% compared to the same period in 2023.

    The following table summarizes the changes in Consumer Loan unit volume and active dealers:

      For the Three Months Ended September 30,       For the Nine Months Ended
    September 30,    		    
      2024   2023   % Change   2024   2023   % Change
    Consumer Loan unit volume         95,670           81,299           17.7  %           307,215           253,847           21.0  %
    Active dealers (1)         10,678           9,818           8.8  %           14,326           13,008           10.1  %
    Average volume per active dealer         9.0           8.3           8.4  %           21.4           19.5           9.7  %
                           
    Consumer Loan unit volume from dealers active both periods         74,108           67,930           9.1  %           262,564           228,157           15.1  %
    Dealers active both periods         6,595           6,595           —              9,604           9,604           —   
    Average volume per dealer active both periods         11.2           10.3           9.1  %           27.3           23.8           15.1  %
                           
    Consumer loan unit volume from dealers not active both periods         21,562           13,369           61.3  %           44,651           25,690           73.8  %
    Dealers not active both periods         4,083           3,223           26.7  %           4,722           3,404           38.7  %
    Average volume per dealer not active both periods         5.3           4.1           29.3  %           9.5           7.5           26.7  %

    (1)   Active dealers are dealers who have received funding for at least one Consumer Loan during the period.

    The following table provides additional information on the changes in Consumer Loan unit volume and active dealers: 

      For the Three Months Ended September 30,       For the Nine Months Ended
    September 30,    		    
      2024     2023     % Change   2024     2023     % Change
    Consumer Loan unit volume from new active dealers         3,447             3,926             -12.2  %           29,441             29,005             1.5  %
    New active dealers (1)         1,038             983             5.6  %           3,428             3,095             10.8  %
    Average volume per new active dealer         3.3             4.0             -17.5  %           8.6             9.4             -8.5  %
                           
    Attrition (2)         -16.4  %           -17.2  %               -10.1  %           -8.9  %    

    (1)   New active dealers are dealers who enrolled in our program and have received funding for their first dealer loan or purchased loan from us during the period.
    (2)   Attrition is measured according to the following formula:  decrease in Consumer Loan unit volume from dealers who have received funding for at least one dealer loan or purchased loan during the comparable period of the prior year but did not receive funding for any dealer loans or purchased loans during the current period divided by prior year comparable period Consumer Loan unit volume.

    The following table shows the percentage of Consumer Loans assigned to us as dealer loans and purchased loans for each of the last seven quarters:

        Unit Volume   Dollar Volume (1)
    Three Months Ended   Dealer Loans   Purchased Loans   Dealer Loans   Purchased Loans
    March 31, 2023           72.1  %           27.9  %           68.1  %           31.9  %
    June 30, 2023           72.4  %           27.6  %           68.6  %           31.4  %
    September 30, 2023           74.8  %           25.2  %           71.7  %           28.3  %
    December 31, 2023           77.2  %           22.8  %           75.0  %           25.0  %
    March 31, 2024           78.2  %           21.8  %           76.6  %           23.4  %
    June 30, 2024           78.5  %           21.5  %           77.3  %           22.7  %
    September 30, 2024           79.5  %           20.5  %           78.4  %           21.6  %

    (1)   Represents advances paid to dealers on Consumer Loans assigned under our portfolio program and one-time payments made to dealers to purchase Consumer Loans assigned under our purchase program.  Payments of dealer holdback and accelerated dealer holdback are not included.

    As of September 30, 2024 and December 31, 2023, the net dealer loans receivable balance was 71.6% and 67.7%, respectively, of the total net loans receivable balance.

    Financial Results

    (Dollars in millions, except per share data) For the Three Months Ended September 30,       For the Nine Months Ended September 30,    
        2024     2023   % Change     2024     2023   % Change
    GAAP average debt $         6,071.1   $         4,831.4           25.7  %   $         5,732.1   $         4,718.7           21.5  %
    GAAP average shareholders’ equity           1,594.2             1,731.3           -7.9  %             1,632.1             1,719.1           -5.1  %
    Average capital $         7,665.3   $         6,562.7           16.8  %   $         7,364.2   $         6,437.8           14.4  %
    GAAP net income $         78.8   $         70.8           11.3  %   $         96.0   $         192.5           -50.1  %
    Diluted weighted average shares outstanding   12,415,143     13,039,638           -4.8  %     12,494,011     13,068,998           -4.4  %
    GAAP net income per diluted share $         6.35   $         5.43           16.9  %   $         7.68   $         14.73           -47.9  %

    The increase in GAAP net income for the three months ended September 30, 2024, as compared to the same period in 2023, was primarily a result of the following:

    • An increase in finance charges of 14.9% ($65.9 million), primarily due to an increase in the average balance of our loan portfolio.
    • An increase in premiums earned of 20.7% ($4.3 million), primarily due to growth in the size of our reinsurance portfolio, which resulted from growth in new Consumer Loan assignments and an increase in the average premium written per reinsured vehicle service contract in recent periods.
    • An increase in operating expenses of 17.1% ($18.9 million), primarily due to:
      • An increase in salaries and wages expense of 15.9% ($10.6 million), primarily due to increases in (i) the number of team members as we are investing in our business with the goal of increasing the speed at which we enhance our product for dealers and consumers and (ii) fringe benefits, primarily due to higher medical claims.
      • An increase in general and administrative expenses of 36.2% ($7.7 million), primarily due to an increase in legal expenses.
    • An increase in interest expense of 57.7% ($40.7 million), due to:
      • An increase in our average cost of debt, which increased interest expense by $22.6 million, primarily as a result of higher interest rates on recently completed or extended secured financings and recently issued senior notes and the repayment of older secured financings and senior notes with lower interest rates.
      • An increase in our average outstanding debt balance, which increased interest expense by $18.1 million, primarily due to borrowings used to fund the growth of our loan portfolio and stock repurchases.

    The decrease in GAAP net income for the nine months ended September 30, 2024, as compared to the same period in 2023, was primarily a result of the following:

    • An increase in interest expense of 64.2% ($120.5 million), due to:
      • An increase in our average cost of debt, which increased interest expense by $80.2 million, primarily as a result of higher interest rates on recently completed or extended secured financings and recently issued senior notes and the repayment of older secured financings and senior notes with lower interest rates.
      • An increase in our average outstanding debt balance, which increased interest expense by $40.3 million, primarily due to borrowings used to fund the growth of our loan portfolio and stock repurchases.
    • An increase in provision for credit losses of 20.8% ($118.8 million), primarily due to an increase in provision for credit losses on forecast changes of $111.5 million, due to a greater decline in Consumer Loan performance and slower net cash flow timing during the first nine months of 2024 compared to the first nine months of 2023.

    During the first nine months of 2024, we decreased our estimate of future net cash flows by $282.9 million, or 2.8%, to reflect a decline in forecasted collection rates during the period, and slowed our forecasted net cash flow timing to reflect a decrease in Consumer Loan prepayments, which remain at below-average levels. Historically, Consumer Loan prepayments have been lower in periods with less availability of consumer credit. The $282.9 million decrease in forecasted net cash flows for the first nine months of 2024 was composed of an ordinary decrease in forecasted net cash flows of $135.7 million, or 1.4%, and an adjustment applied to our forecasting methodology during the second quarter of 2024, which upon implementation, reduced forecasted net cash flows by $147.2 million, or 1.4%, and increased our provision for credit losses by $127.5 million.

    During the first nine months of 2023, we decreased our estimate of future net cash flows by $149.3 million, or 1.7%, to reflect a decline in forecasted collection rates during the period and slowed our forecasted net cash flow timing to reflect a decrease in Consumer Loan prepayments. The $149.3 million decrease in forecasted net cash flows for the first nine months of 2023 was composed of an ordinary decrease in forecasted net cash flows of $104.8 million, or 1.2%, and an adjustment to our forecasting methodology during the second quarter of 2023, which upon implementation, decreased our estimate of future net cash flows by $44.5 million, or 0.5%, and increased our provision for credit losses by $71.3 million.

    The following table summarizes each component of provision for credit losses:

    (In millions)   For the Nine Months Ended September 30,    
    Provision for Credit Losses     2024     2023   Change
    Forecast changes   $         430.9   $         319.4   $         111.5
    New Consumer Loan assignments             260.4             253.1             7.3
    Total   $         691.3   $         572.5   $         118.8
    • An increase in operating expenses of 10.2% ($35.1 million), primarily due to:
      • An increase in salaries and wages expense of 8.2% ($17.5 million), primarily due to increases in (i) the number of team members as we are investing in our business with the goal of increasing the speed at which we enhance our product for dealers and consumers and (ii) fringe benefits, primarily due to higher medical claims.
      • An increase in general and administrative expense of 26.9% ($16.1 million), primarily due to increases in legal and technology systems expenses.
    • A loss on sale of building of $23.7 million related to the sale of one of our two office buildings. The building was sold to reduce excess office space and eliminate the associated annual operating costs of approximately $2.1 million.
    • An increase in premiums earned of 22.9% ($13.3 million), primarily due to growth in the size of our reinsurance portfolio, which resulted from growth in new Consumer Loan assignments and an increase in the average premium written per reinsured vehicle service contract in recent periods.
    • A decrease in provision for income taxes of 29.1% ($17.1 million), primarily due to a decrease in pre-tax income.
    • An increase in finance charges of 13.1% ($170.7 million), primarily due to an increase in the average balance of our loan portfolio.

    Adjusted financial results are provided to help shareholders understand our financial performance. The financial data below is non-GAAP, unless labeled otherwise. We use adjusted financial information internally to measure financial performance and to determine certain incentive compensation. We also use economic profit as a framework to evaluate business decisions and strategies, with the objective to maximize economic profit over the long term. In addition, certain debt facilities utilize adjusted financial information for the determination of loan collateral values and to measure financial covenants. The table below shows our results following adjustments to reflect non-GAAP accounting methods. Material adjustments are explained in the table footnotes and the subsequent “Floating Yield Adjustment” and “Senior Notes Adjustment” sections. Measures such as adjusted average capital, adjusted net income, adjusted net income per diluted share, adjusted interest expense (after-tax), adjusted net income plus adjusted interest expense (after-tax), adjusted return on capital, adjusted revenue, operating expenses, adjusted loans receivable, economic profit, and economic profit per diluted share are non-GAAP financial measures. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP.

    Adjusted financial results for the three and nine months ended September 30, 2024, compared to the same periods in 2023, include the following:

    (Dollars in millions, except per share data) For the Three Months Ended September 30,       For the Nine Months Ended
    September 30,    		    
        2024       2023     % Change     2024       2023     % Change
    Adjusted average capital $         8,387.6      $         7,023.9              19.4  %   $         7,976.2      $         6,801.6              17.3  %
    Adjusted net income $         109.1      $         139.5              -21.8  %   $         352.9      $         406.5              -13.2  %
    Adjusted interest expense (after-tax) $         85.6      $         54.8              56.2  %   $         237.3      $         146.1              62.4  %
    Adjusted net income plus adjusted interest expense (after-tax) $         194.7      $         194.3              0.2  %   $         590.2      $         552.6              6.8  %
    Adjusted return on capital           9.3  %             11.1  %           -16.2  %             9.9  %             10.8  %           -8.3  %
    Cost of capital           7.3  %             7.1  %           2.8  %             7.4  %             6.8  %           8.8  %
    Economic profit $         41.4      $         69.1              -40.1  %   $         149.0      $         204.6              -27.2  %
    Diluted weighted average shares outstanding   12,415,143        13,039,638              -4.8  %     12,494,011        13,068,998              -4.4  %
    Adjusted net income per diluted share $         8.79      $         10.70              -17.9  %   $         28.25      $         31.10              -9.2  %
    Economic profit per diluted share $         3.33      $         5.30              -37.2  %   $         11.93      $         15.66              -23.8  %

    Economic profit decreased 40.1% and 27.2% for the three and nine months ended September 30, 2024, as compared to the same periods in 2023. Economic profit is a function of the return on capital in excess of the cost of capital and the amount of capital invested in the business. The following table summarizes the impact each of these components had on the changes in economic profit for the three and nine months ended September 30, 2024, as compared to the same periods in 2023:

    (In millions) Year over Year Change in Economic Profit
      For the Three Months Ended September 30, 2024   For the Nine Months Ended September 30, 2024
    Decrease in adjusted return on capital $         (37.3)     $         (58.1)  
    Increase in cost of capital           (3.8)               (33.0)  
    Increase in adjusted average capital           13.4                35.5   
    Decrease in economic profit $         (27.7)     $         (55.6)  

    The decrease in economic profit for the three months ended September 30, 2024, as compared to the same period in 2023, was primarily a result of the following:

    • A decrease in our adjusted return on capital of 180 basis points, primarily due to a decrease in the yield used to recognize adjusted finance charges on our loan portfolio, primarily due to both a decline in forecasted collection rates and slower forecasted net cash flow timing since the second quarter of 2023. The slower forecasted net cash flow timing was primarily a result of a decrease in Consumer Loan prepayments, which remain at below-average levels.
    • An increase in adjusted average capital of 19.4%, primarily due to an increase in the average balance of our loan portfolio.

    The decrease in economic profit for the nine months ended September 30, 2024, as compared to the same period in 2023, was primarily a result of the following:

    • A decrease in our adjusted return on capital of 90 basis points, primarily due to:
      • A decrease in the yield used to recognize adjusted finance charges on our loan portfolio decreased our adjusted return on capital by 130 basis points, primarily due to both a decline in forecasted collection rates and slower forecasted net cash flow timing since the first quarter of 2023. The slower forecasted net cash flow timing was primarily a result of a decrease in Consumer Loan prepayments, which remain at below-average levels.
      • Slower growth in operating expenses increased our adjusted return on capital by 30 basis points as operating expenses grew by 10.2% while adjusted average capital grew by 17.3%.
    • An increase in our cost of capital, primarily due to an increase in our cost of debt, primarily as a result of higher interest rates on recently completed or extended secured financings and recently issued senior notes and the repayment of older secured financings and senior notes with lower interest rates.
    • An increase in adjusted average capital of 17.3%, primarily due to an increase in the average balance of our loan portfolio.

    The following table shows adjusted revenue and operating expenses as a percentage of adjusted average capital, the adjusted return on capital, and the percentage change in adjusted average capital for each of the last eight quarters, compared to the same period in the prior year:

        For the Three Months Ended
        Sept. 30, 2024   Jun. 30, 2024   Mar. 31, 2024   Dec. 31, 2023   Sept. 30, 2023   Jun. 30, 2023   Mar. 31, 2023   Dec. 31, 2022
    Adjusted revenue as a percentage of adjusted average capital (1)           18.2  %           19.6  %           19.8  %           20.2  %           20.7  %           21.2  %           20.6  %           22.0  %
    Operating expenses as a percentage of adjusted average capital (1)           6.2  %           6.2  %           6.7  %           6.3  %           6.3  %           6.9  %           7.2  %           6.4  %
    Adjusted return on capital (1)           9.3  %           10.3  %           10.1  %           10.6  %           11.1  %           11.1  %           10.3  %           12.0  %
    Percentage change in adjusted average capital compared to the same period in the prior year           19.4  %           17.6  %           14.6  %           11.5  %           8.8  %           6.2  %           1.0  %           -2.4  %

    (1)   Annualized.

    The decrease in adjusted return on capital for the three months ended September 30, 2024, as compared to the three months ended June 30, 2024, was primarily due to a decrease in the yield used to recognize adjusted finance charges on our loan portfolio, primarily due to both a decline in Consumer Loan performance and slower forecasted net cash flow timing in the second and third quarters of 2024, which is being recorded over time as an adjustment to the yield used to recognize adjusted finance charges.

    The following tables provide a reconciliation of non-GAAP measures to GAAP measures.  Certain amounts do not recalculate due to rounding.

    (Dollars in millions, except per share data)   For the Three Months Ended
        Sept. 30, 2024   Jun. 30, 2024   Mar. 31, 2024   Dec. 31, 2023   Sept. 30, 2023   Jun. 30, 2023   Mar. 31, 2023   Dec. 31, 2022
    Adjusted net income                                
    GAAP net income (loss)   $         78.8      $         (47.1)     $         64.3      $         93.6      $         70.8      $         22.2      $         99.5      $         127.3   
    Floating yield adjustment (after-tax)             (115.1)               (96.1)               (92.4)               (83.9)               (76.4)               (73.9)               (75.9)               (69.3)  
    GAAP provision for credit losses (after-tax)             142.2                246.9                143.2                126.1                142.1                192.9                 105.8                100.4   
    Loss on sale of building (1)             —                18.3                —                —                —                 —                 —                —   
    Senior notes adjustment (after-tax)             —                —                —                (2.6)               (0.5)               (0.6)               (0.5)               (0.5)  
    Income tax adjustment (2)             3.2                4.4                2.3                (4.1)               3.5                (0.6)               (1.9)               (1.8)  
    Adjusted net income   $         109.1      $         126.4      $         117.4      $         129.1      $         139.5      $         140.0      $         127.0      $         156.1   
                                     
    Adjusted net income per diluted share (3)   $         8.79     $         10.29     $         9.28     $         10.06     $         10.70     $         10.69     $         9.71     $         11.74  
    Diluted weighted average shares outstanding     12,415,143       12,282,174       12,646,529       12,837,181       13,039,638       13,099,961       13,073,316       13,294,506  
                                     
    Adjusted revenue                                
    GAAP total revenue   $         550.3      $         538.2      $         508.0      $         491.6      $         478.6      $         477.9      $         453.8      $         459.0   
    Floating yield adjustment             (149.4)               (124.8)               (120.0)               (108.9)               (99.3)               (96.1)               (98.4)               (90.0)  
    GAAP provision for claims             (18.5)               (20.3)               (17.0)               (16.6)               (16.5)               (19.7)               (17.9)               (12.4)  
    Adjusted revenue   $         382.4      $         393.1      $         371.0      $         366.1      $         362.8      $         362.1      $         337.5      $         356.6   
                                     
    Adjusted average capital                                
    GAAP average debt   $         6,071.1      $         5,818.2      $         5,306.8      $         4,986.3      $         4,831.4      $         4,730.3      $         4,594.7      $         4,591.1   
    Deferred debt issuance adjustment             —                —                —                20.9                24.5                24.0                21.2                21.3   
    Senior notes debt adjustment             —                —                —                2.8                3.4                3.4                3.4                3.4   
    Adjusted average debt             6,071.1                5,818.2                5,306.8                5,010.0                4,859.3                4,757.7                4,619.3                4,615.8   
    GAAP average shareholders’ equity             1,594.2                1,623.5                1,678.5                1,734.3                1,731.3                1,752.6                1,673.3                1,635.2   
    Senior notes equity adjustment             —                —                —                2.0                2.9                3.4                4.0                4.5   
    Income tax adjustment (4)             (118.5)               (118.5)               (118.5)               (118.5)               (118.5)               (118.5)               (118.5)               (118.5)  
    Floating yield adjustment             840.8                710.1                641.0                606.5                548.9                433.9                373.7                353.2   
    Adjusted average equity             2,316.5                2,215.1                2,201.0                2,224.3                2,164.6                2,071.4                1,932.5                1,874.4   
    Adjusted average capital   $         8,387.6      $         8,033.3      $         7,507.8      $         7,234.3      $         7,023.9      $         6,829.1      $         6,551.8      $         6,490.2   
                                     
    Adjusted revenue as a percentage of adjusted average capital (5)             18.2  %             19.6  %             19.8  %             20.2  %             20.7  %             21.2  %             20.6  %             22.0  %
                                     
    Adjusted loans receivable                                
    GAAP loans receivable, net   $         7,781.5      $         7,547.7      $         7,345.6      $         6,955.3      $         6,780.5      $         6,610.3      $         6,500.3      $         6,297.7   
    Floating yield adjustment             1,100.8                1,065.6                869.7                803.8                748.9                663.7                509.2                470.2   
    Adjusted loans receivable   $         8,882.3      $         8,613.3      $         8,215.3      $         7,759.1      $         7,529.4      $         7,274.0      $         7,009.5      $         6,767.9   
                                     
    Adjusted interest expense (after-tax)                                
    GAAP interest expense   $         111.2      $         104.5      $         92.5      $         78.8      $         70.5      $         62.8      $         54.4      $         49.4   
    Senior notes adjustment             —                —                —                 3.5                0.7                0.7                0.7                0.7   
    Adjusted interest expense (pre-tax)             111.2                104.5                92.5                82.3                71.2                63.5                55.1                50.1   
    Adjustment to record tax effect (2)             (25.6)               (24.0)               (21.3)               (18.9)               (16.4)               (14.6)               (12.7)               (11.5)  
    Adjusted interest expense (after-tax)   $         85.6      $         80.5      $         71.2      $         63.4      $         54.8      $         48.9      $         42.4      $         38.6   

    (1)   The sale of one of our two office buildings in June 2024 resulted in a loss on the sale of the asset. As this transaction is both unusual and infrequent in nature, we applied this adjustment to remove the impact of the loss on sale of building from our adjusted net income.
    (2)   Adjustment to record taxes at our estimated long-term effective income tax rate of 23%. 
    (3)   Net income per diluted share is computed independently for each of the quarters presented. Therefore, the sum of quarterly net income per diluted share information may not equal year-to-date net income per diluted share.
    (4)   The enactment of the Tax Cuts and Jobs Act in December 2017 resulted in the reversal of $118.5 million of provision for income taxes to reflect the new federal statutory income tax rate. This adjustment removes the impact of this reversal from adjusted average capital. We believe the income tax adjustment provides a more accurate reflection of the performance of our business as we are recognizing provision for income taxes at the applicable long-term effective tax rate for the period.
    (5)   Annualized.

    (Dollars in millions)   For the Three Months Ended
        Sept. 30, 2024   Jun. 30, 2024   Mar. 31, 2024   Dec. 31, 2023   Sept. 30, 2023   Jun. 30, 2023   Mar. 31, 2023   Dec. 31, 2022
    Adjusted return on capital (1)                                
    Adjusted net income   $         109.1      $         126.4      $         117.4      $         129.1      $         139.5      $         140.0      $         127.0      $         156.1   
    Adjusted interest expense (after-tax)             85.6                80.5                71.2                63.4                54.8                48.9                42.4                38.6   
    Adjusted net income plus adjusted interest expense (after-tax)   $         194.7      $         206.9      $         188.6      $         192.5      $         194.3      $         188.9      $         169.4      $         194.7   
                                     
    Reconciliation of GAAP return on equity to adjusted return on capital (4)                                
    GAAP return on equity (2)             19.8  %             -11.6  %             15.3  %             21.6  %             16.4  %             5.1  %             23.8  %             31.1  %
    Non-GAAP adjustments             -10.5  %             21.9  %             -5.2  %             -11.0  %             -5.3  %             6.0  %             -13.5  %             -19.1  %
    Adjusted return on capital (1)             9.3  %             10.3  %             10.1  %             10.6  %             11.1  %             11.1  %             10.3  %             12.0  %
                                     
    Economic profit                                
    Adjusted return on capital             9.3  %             10.3  %             10.1  %             10.6  %             11.1  %             11.1  %             10.3  %             12.0  %
    Cost of capital (3) (4)             7.3  %             7.5  %             7.3  %             7.6  %             7.1  %             6.7  %             6.6  %             6.6  %
    Adjusted return on capital in excess of cost of capital             2.0  %             2.8  %             2.8  %             3.0  %             4.0  %             4.4  %             3.7  %             5.4  %
    Adjusted average capital   $         8,387.6      $         8,033.3      $         7,507.8      $         7,234.3      $         7,023.9      $         6,829.1      $         6,551.8      $         6,490.2   
        Economic profit   $         41.4      $         56.2      $         51.4      $         55.9      $         69.1      $         74.1      $         61.4      $         88.1   
                                     
    Reconciliation of GAAP net income (loss) to economic profit                                
    GAAP net income (loss)   $         78.8      $         (47.1)     $         64.3      $         93.6      $         70.8      $         22.2      $         99.5      $         127.3   
    Non-GAAP adjustments             30.3                173.5                53.1                35.5                68.7                117.8                27.5                28.8   
    Adjusted net income             109.1                126.4                117.4                129.1                139.5                140.0                127.0                156.1   
    Adjusted interest expense (after-tax)             85.6                80.5                71.2                63.4                54.8                48.9                42.4                38.6   
    Adjusted net income plus adjusted interest expense (after-tax)             194.7                206.9                188.6                 192.5                194.3                188.9                169.4                194.7   
    Less: cost of capital             153.3                150.7                137.2                136.6                125.2                114.8                108.0                106.6   
    Economic profit   $         41.4      $         56.2      $         51.4      $         55.9      $         69.1      $         74.1      $         61.4      $         88.1   
                                     
    Economic profit per diluted share (5)   $         3.33      $         4.58      $         4.06      $         4.35      $         5.30      $         5.66      $         4.70      $         6.63   
                                     
    Operating expenses as a percentage of adjusted average capital (4)             6.2  %             6.2  %             6.7  %             6.3  %             6.3  %             6.9  %             7.2  %             6.4  %
                                     
    Percentage change in adjusted average capital compared to the same period in the prior year             19.4  %             17.6  %             14.6  %             11.5  %             8.8  %             6.2  %             1.0  %             -2.4  %

    (1)   Adjusted return on capital is defined as adjusted net income plus adjusted interest expense (after-tax) divided by adjusted average capital.
    (2)   Calculated by dividing GAAP net income (loss) by GAAP average shareholders’ equity.

    (3)   The cost of capital includes both a cost of equity and a cost of debt.  The cost of equity capital is determined based on a formula that considers the risk of the business and the risk associated with our use of debt.  The formula utilized for determining the cost of equity capital is as follows: (the average 30-year Treasury rate + 5%) + [(1 – tax rate) x (the average 30-year Treasury rate + 5% – pre-tax average cost of debt rate) x average debt/(average equity + average debt x tax rate)].  For the periods presented, the average 30-year Treasury rate and the adjusted pre-tax average cost of debt were as follows:

        For the Three Months Ended
        Sept. 30, 2024   Jun. 30, 2024   Mar. 31, 2024   Dec. 31, 2023   Sept. 30, 2023   Jun. 30, 2023   Mar. 31, 2023   Dec. 31, 2022
    Average 30-year Treasury rate           4.3  %           4.6  %           4.3  %           4.7  %           4.2  %           3.8  %           3.8  %           4.0  %
    Adjusted pre-tax average cost of debt (4)           7.3  %           7.2  %           7.0  %           6.3  %           5.9  %           5.3  %           4.8  %           4.3  %

    (4)   Annualized.
    (5)   Economic profit per diluted share is computed independently for each of the quarters presented. Therefore, the sum of quarterly economic profit per diluted share information may not equal year-to-date economic profit per diluted share.

    (In millions, except share and per share data)   For the Nine Months Ended September 30,
          2024       2023  
    Adjusted net income        
    GAAP net income   $         96.0      $         192.5   
    Floating yield adjustment (after-tax)             (303.6)               (226.2)  
    GAAP provision for credit losses (after-tax)             532.3                440.8   
    Loss on sale of building (1)             18.3                —   
    Senior notes adjustment (after-tax)             —                (1.6)  
    Income tax adjustment (2)             9.9                1.0   
    Adjusted net income   $         352.9      $         406.5   
             
    Adjusted net income per diluted share   $         28.25     $         31.10  
    Diluted weighted average shares outstanding     12,494,011       13,068,998  
             
    Adjusted average capital        
    GAAP average debt   $         5,732.1      $         4,718.7   
    Deferred debt issuance adjustment             —                23.3   
    Senior notes debt adjustment             —                3.4   
    Adjusted average debt             5,732.1                4,745.4   
    GAAP average shareholders’ equity             1,632.1                1,719.1   
    Senior notes equity adjustment             —                3.4   
    Income tax adjustment (3)             (118.5)               (118.5)  
    Floating yield adjustment             730.5                452.2   
    Adjusted average equity             2,244.1                2,056.2   
    Adjusted average capital   $         7,976.2      $         6,801.6   
             
    Adjusted interest expense (after-tax)        
    GAAP interest expense   $         308.2      $         187.7   
    Senior notes adjustment             —                2.1   
    Adjusted interest expense (pre-tax)             308.2                189.8   
    Adjustment to record tax effect (2)             (70.9)               (43.7)  
    Adjusted interest expense (after-tax)   $         237.3      $         146.1   
             
    Adjusted return on capital (5)        
    Adjusted net income   $         352.9      $         406.5   
    Adjusted interest expense (after-tax)             237.3                146.1   
        Adjusted net income plus adjusted interest expense (after-tax)   $         590.2      $         552.6   
             
    Reconciliation of GAAP return on equity to adjusted return on capital (7)        
    GAAP return on equity (4)             7.8  %             14.9  %
    Non-GAAP adjustments             2.1  %             -4.1  %
    Adjusted return on capital (5)             9.9  %             10.8  %
             
    Economic profit        
    Adjusted return on capital             9.9  %             10.8  %
    Cost of capital (6) (7)             7.4  %             6.8  %
    Adjusted return on capital in excess of cost of capital             2.5  %             4.0  %
    Adjusted average capital   $         7,976.2      $         6,801.6   
        Economic profit   $         149.0      $         204.6   
             
    Reconciliation of GAAP net income to economic profit        
    GAAP net income   $         96.0      $         192.5   
    Non-GAAP adjustments             256.9                214.0   
    Adjusted net income             352.9                406.5   
    Adjusted interest expense (after-tax)             237.3                146.1   
    Adjusted net income plus adjusted interest expense (after-tax)             590.2                552.6   
    Less: cost of capital             441.2                348.0   
    Economic profit   $         149.0      $         204.6   
             
    Economic profit per diluted share (8)   $         11.93      $         15.66   

    (1)   The sale of one of our two office buildings in June 2024 resulted in a loss on the sale of the asset. As this transaction is both unusual and infrequent in nature, we applied this adjustment to remove the impact of the loss on sale of building from our adjusted net income.   
    (2)        Adjustment to record taxes at our estimated long-term effective income tax rate of 23%.
    (3)   The enactment of the Tax Cuts and Jobs Act in December 2017 resulted in the reversal of $118.5 million of provision for income taxes to reflect the new federal statutory income tax rate. This adjustment removes the impact of this reversal from adjusted average capital. We believe the income tax adjustment provides a more accurate reflection of the performance of our business as we are recognizing provision for income taxes at the applicable long-term effective tax rate for the period.
    (4)   Calculated by dividing GAAP net income by GAAP average shareholders’ equity.
    (5)   Adjusted return on capital is defined as adjusted net income plus adjusted interest expense after-tax divided by adjusted average capital.
    (6)   The cost of capital includes both a cost of equity and a cost of debt.  The cost of equity capital is determined based on a formula that considers the risk of the business and the risk associated with our use of debt.  The formula utilized for determining the cost of equity capital is as follows: (the average 30-year Treasury rate + 5%) + [(1 – tax rate) x (the average 30-year Treasury rate + 5% – pre-tax average cost of debt rate) x average debt/(average equity + average debt x tax rate)].  For the periods presented, the average 30-year Treasury rate and the adjusted pre-tax average cost of debt were as follows:

        For the Nine Months Ended September 30,
        2024     2023  
    Average 30-year Treasury rate           4.4  %           3.9  %
    Adjusted pre-tax average cost of debt (7)           7.2  %           5.3  %

    (7)   Annualized
    (8)   Economic profit per diluted share is computed independently for each of the quarters presented. Therefore, the sum of quarterly economic profit per diluted share information may not equal year-to-date economic profit per diluted share.

    Floating Yield Adjustment

    The net loan income (finance charge revenue less provision for credit losses expense) that we recognize over the life of a loan equals the cash we collect from the underlying Consumer Loan less the cash we pay to the dealer. We believe the economics of our business are best exhibited by recognizing loan revenue on a level-yield basis over the life of the loan based on expected future net cash flows. The purpose of this non-GAAP adjustment is to provide insight into our business by showing this level yield measure of income. Under GAAP, contractual amounts due in excess of the loan receivable balance at the time of assignment will be reflected as interest income, while contractual amounts due that are not expected to be collected are reflected in the provision for credit losses. Our non-GAAP floating yield adjustment recognizes the net effects of contractual interest income and expected credit losses in a single measure of finance charge revenue, consistent with how we manage our business. The floating yield adjustment recognizes revenue on a level-yield basis based upon expected future net cash flows, with any changes in expected future net cash flows, which are recognized immediately under GAAP as provision for credit losses, recognized over the remaining forecast period (up to 120 months after the origination date of the underlying Consumer Loans) for each individual dealer loan and purchased loan. The floating yield adjustment does not accelerate revenue recognition. Rather, it reduces revenue by taking amounts that are reported under GAAP as provision for credit losses and instead treating them as reductions of revenue over time.

    Under the GAAP methodology we employ, which is known as the current expected credit loss model, or CECL, we are required to recognize:

    • a significant provision for credit losses expense at the time of the loan’s assignment to us for contractual net cash flows we do not expect to realize; and
    • finance charge revenue in subsequent periods that is significantly in excess of our expected yield.

    Due to the GAAP treatment of contractual net cash flows we do not expect to realize at the time of loan assignment (i.e. significant expense at the time of loan assignment, which is offset by higher revenue in subsequent periods), we do not believe the GAAP methodology we employ provides sufficient transparency into the economics of our business, including our results of operations, financial condition, and financial leverage. Our floating yield adjustment enables us to provide measures of income that are not impacted by GAAP’s treatment of contractual net cash flows we do not expect to realize at the time of loan assignment. We believe the floating yield adjustment is presented in a manner which reflects both the economic reality of our business and how the business is managed and provides valuable supplemental information to help investors better understand our business, executive compensation, liquidity, and capital resources.

    Senior Notes Adjustment (applied in periods prior to December 31, 2023)

    This non-GAAP adjustment modifies our GAAP financial results to treat the issuance of certain senior notes as a refinancing of certain previously issued senior notes. Our historical adjusted financial information reflects application of the senior notes adjustment as described below in connection with (i) the issuance by us in 2014 of $300.0 million principal amount of 6.125% senior notes due 2021 (the “2021 senior notes”) and the related retirement of our 9.125% senior notes due 2017 (the “2017 senior notes”) and (ii) the issuance by us in 2019 of $400.0 million principal amount of 5.125% senior notes due 2024 (the “2024 senior notes”) and the related retirement of the 2021 senior notes and our 7.375% senior notes due 2023 (the “2023 senior notes”).

    We issued the 2024 senior notes on December 18, 2019. We used a portion of the net proceeds from the 2024 senior notes to repurchase or redeem all of the $300.0 million outstanding principal amount of the 2021 senior notes, of which $148.2 million was repurchased on December 18, 2019 and the remaining $151.8 million was redeemed on January 17, 2020. We used the remaining net proceeds from the 2024 senior notes, together with borrowings under our revolving credit facility, to redeem in full the $250.0 million outstanding principal amount of the 2023 senior notes on March 15, 2020. Under GAAP, the fourth quarter of 2019 included (i) a pre-tax loss on extinguishment of debt of $1.8 million related to the repurchase of 2021 senior notes in the fourth quarter of 2019 and the redemption of the remaining 2021 senior notes in the first quarter of 2020 and (ii) additional interest expense of $0.3 million on $160.0 million of additional outstanding debt caused by the one month lag from the issuance of the 2024 senior notes and repurchase of 2021 senior notes in the fourth quarter of 2019 to the redemption of the remaining 2021 senior notes in the first quarter of 2020. Under GAAP, the first quarter of 2020 included (i) a pre-tax loss on extinguishment of debt of $7.4 million related to the redemption of 2023 senior notes in the first quarter of 2020 and (ii) additional interest expense of $0.4 million on $160.0 million of additional outstanding debt caused by the one month lag from the issuance of the 2024 senior notes and repurchase of 2021 senior notes in the fourth quarter of 2019 to the redemption of the remaining 2021 senior notes in the first quarter of 2020.

    We issued the 2021 senior notes on January 22, 2014. On February 21, 2014, we used the net proceeds from the 2021 senior notes, together with borrowings under our revolving credit facilities, to redeem in full the $350.0 million outstanding principal amount of the 2017 senior notes. Under GAAP, the first quarter of 2014 included (i) a pre-tax loss on extinguishment of debt of $21.8 million related to the redemption of the 2017 senior notes in the first quarter of 2014 and (ii) additional interest expense of $1.4 million on $276.0 million of additional outstanding debt caused by the one month lag from the issuance of the 2021 senior notes to the redemption of the 2017 senior notes.

    Under our non-GAAP approach, the loss on extinguishment of debt and additional interest expense that were recognized for GAAP purposes were in each case deferred as debt issuance costs to be recognized ratably as interest expense over the term of the newly issued notes. In addition, for adjusted average capital purposes, the impact of additional outstanding debt related to the lag from the issuance of the new notes to the redemption of the previously issued notes was in each case deferred to be recognized ratably over the term of the newly issued notes. Upon the issuance of the 2024 senior notes in the fourth quarter of 2019, the outstanding unamortized balances of the non-GAAP adjustments related to the 2021 senior notes were deferred and were being recognized ratably over the term of the 2024 senior notes, until the repurchase and redemption of the 2024 senior notes in December 2023.

    We believe the application of the senior notes adjustment as described above provided a more accurate reflection of the performance of our business, since we were recognizing the costs incurred with these transactions in a manner consistent with how we recognize the costs incurred when we periodically refinance our other debt facilities. We have determined not to apply the senior notes adjustment in connection with the issuance by us in December 2023 of our 9.250% senior notes due 2028 and the related retirement of the 2024 senior notes, because the adjustment would not be material.

    Cautionary Statement Regarding Forward-Looking Information

    We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements. Statements in this release that are not historical facts, such as those using terms like “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “assume,” “forecast,” “estimate,” “intend,” “plan,” “target,” or similar expressions, and those regarding our future results, plans, and objectives, are “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements represent our outlook only as of the date of this release. Actual results could differ materially from these forward-looking statements since the statements are based on our current expectations, which are subject to risks and uncertainties. Factors that might cause such a difference include, but are not limited to, the factors set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2024, and other risk factors discussed herein or listed from time to time in our reports filed with the SEC and the following:

    Industry, Operational, and Macroeconomic Risks

    • Our inability to accurately forecast and estimate the amount and timing of future collections could have a material adverse effect on results of operations.
    • Due to competition from traditional financing sources and non-traditional lenders, we may not be able to compete successfully.
    • Adverse changes in economic conditions, the automobile or finance industries, or the non-prime consumer market could adversely affect our financial position, liquidity, and results of operations, the ability of key vendors that we depend on to supply us with services, and our ability to enter into future financing transactions.
    • Reliance on third parties to administer our ancillary product offerings could adversely affect our business and financial results.
    • We are dependent on our senior management and the loss of any of these individuals or an inability to hire additional team members could adversely affect our ability to operate profitably.
    • Our reputation is a key asset to our business, and our business may be affected by how we are perceived in the marketplace.
    • An outbreak of contagious disease or other public health emergency could materially and adversely affect our business, financial condition, liquidity, and results of operations.
    • The concentration in several states of automobile dealers who participate in our programs could adversely affect us.
    • Reliance on our outsourced business functions could adversely affect our business.
    • Our ability to hire and retain foreign engineering personnel could be hindered by immigration restrictions.
    • We may be unable to execute our business strategy due to current economic conditions.
    • Natural disasters, climate change, military conflicts, acts of war, terrorist attacks and threats, or the escalation of military activity in response to terrorist attacks or otherwise may negatively affect our business, financial condition, and results of operations.
    • Governmental or market responses to climate change and related environmental issues could have a material adverse effect on our business.
    • A small number of our shareholders have the ability to significantly influence matters requiring shareholder approval and such shareholders have interests which may conflict with the interests of our other security holders.

    Capital and Liquidity Risks

    • We may be unable to continue to access or renew funding sources and obtain capital needed to maintain and grow our business.
    • The terms of our debt limit how we conduct our business.
    • A violation of the terms of our asset-backed secured financings or revolving secured warehouse facilities could have a material adverse impact on our operations.
    • Our substantial debt could negatively impact our business, prevent us from satisfying our debt obligations, and adversely affect our financial condition.
    • We may not be able to generate sufficient cash flows to service our outstanding debt and fund operations and may be forced to take other actions to satisfy our obligations under such debt.
    • Interest rate fluctuations may adversely affect our borrowing costs, profitability, and liquidity.
    • Reduction in our credit rating could increase the cost of our funding from, and restrict our access to, the capital markets and adversely affect our liquidity, financial condition, and results of operations.
    • We may incur substantially more debt and other liabilities. This could exacerbate further the risks associated with our current debt levels.
    • The conditions of the U.S. and international capital markets may adversely affect lenders with which we have relationships, causing us to incur additional costs and reducing our sources of liquidity, which may adversely affect our financial position, liquidity, and results of operations.

    Technology and Cybersecurity Risks

    • Our dependence on technology could have a material adverse effect on our business.
    • We depend on secure information technology, and a breach of our systems or those of our third-party service providers could result in our experiencing significant financial, legal, and reputational exposure and could materially adversely affect our business, financial condition, and results of operations.
    • Our use of electronic contracts could impact our ability to perfect our ownership or security interest in Consumer Loans.
    • Failure to properly safeguard confidential consumer and team member information could subject us to liability, decrease our profitability, and damage our reputation.

    Legal and Regulatory Risks

    • Litigation we are involved in from time to time may adversely affect our financial condition, results of operations, and cash flows.
    • Changes in tax laws and the resolution of uncertain income tax matters could have a material adverse effect on our results of operations and cash flows from operations.
    • The regulations to which we are or may become subject could result in a material adverse effect on our business.

    Other factors not currently anticipated by management may also materially and adversely affect our business, financial condition, and results of operations. We do not undertake, and expressly disclaim any obligation, to update or alter our statements whether as a result of new information, future events, or otherwise, except as required by applicable law.

    Webcast Details

    We will host a webcast on October 31, 2024 at 8:30 a.m. Eastern Time to discuss our third quarter results. The webcast can be accessed live by visiting the “Investor Relations” section of our website at ir.creditacceptance.com or by telephone as described below. Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. A replay and transcript of the webcast will be archived in the “Investor Relations” section of our website. 

    To participate in the webcast by telephone, you must pre-register at https://register.vevent.com/register/BIc3f0d088751f49af853a2c2511fe2362, or through the link posted on the “Investor Relations” section of our website at ir.creditacceptance.com. Upon registration you will be provided with the dial-in number and a unique PIN to access the webcast by telephone.

    Description of Credit Acceptance Corporation

    We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing.

    Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit creditacceptance.com.

    CREDIT ACCEPTANCE CORPORATION
    CONSOLIDATED STATEMENTS OF INCOME
    (UNAUDITED)
            

    (Dollars in millions, except per share data) For the Three Months Ended September 30,   For the Nine Months Ended September 30,
        2024     2023     2024     2023
    Revenue:              
    Finance charges $         507.6    $         441.7    $         1,474.5    $         1,303.8 
    Premiums earned           25.1              20.8              71.3              58.0 
    Other income           17.6              16.1              50.7              48.5 
    Total revenue           550.3              478.6              1,596.5              1,410.3 
    Costs and expenses:              
    Salaries and wages           77.3              66.7              231.6              214.1 
    General and administrative           29.0              21.3              75.9              59.8 
    Sales and marketing           23.1              22.5              72.4              70.9 
    Total operating expenses           129.4              110.5              379.9              344.8 
                   
    Provision for credit losses on forecast changes           105.9              106.3              430.9              319.4 
    Provision for credit losses on new Consumer Loan assignments           78.8              78.3              260.4              253.1 
    Total provision for credit losses           184.7              184.6              691.3              572.5 
                   
    Interest           111.2              70.5              308.2              187.7 
    Provision for claims           18.5              16.5              55.8              54.1 
    Loss on sale of building           —              —              23.7              — 
    Total costs and expenses           443.8              382.1              1,458.9              1,159.1 
    Income before provision for income taxes           106.5              96.5              137.6              251.2 
    Provision for income taxes           27.7              25.7              41.6              58.7 
    Net income $         78.8    $         70.8    $         96.0    $         192.5 
                   
    Net income per share:              
    Basic $         6.42    $         5.47    $         7.78    $         14.79 
    Diluted $         6.35    $         5.43    $         7.68    $         14.73 
                   
    Weighted average shares outstanding:              
    Basic           12,274,685              12,933,377              12,345,739              13,013,344 
    Diluted           12,415,143              13,039,638              12,494,011              13,068,998 

    CREDIT ACCEPTANCE CORPORATION
    CONSOLIDATED BALANCE SHEETS
    (UNAUDITED)

    (Dollars in millions, except per share data) As of
      September 30, 2024   December 31, 2023
    ASSETS:      
    Cash and cash equivalents $         159.7      $         13.2   
    Restricted cash and cash equivalents           556.6                457.7   
    Restricted securities available for sale           113.9                93.2   
           
    Loans receivable           11,197.6                10,020.1   
    Allowance for credit losses           (3,416.1)               (3,064.8)  
    Loans receivable, net           7,781.5                6,955.3   
           
    Property and equipment, net           15.2                46.5   
    Income taxes receivable           26.4                4.3   
    Other assets           29.9                40.0   
    Total assets $         8,683.2      $         7,610.2   
           
    LIABILITIES AND SHAREHOLDERS’ EQUITY:      
    Liabilities:      
    Accounts payable and accrued liabilities $         364.4      $         318.8   
    Revolving secured lines of credit           1.0                79.2   
    Secured financing           5,257.1                3,990.9   
    Senior notes           990.8                989.0   
    Mortgage note           —                8.4   
    Deferred income taxes, net           423.2                389.2   
    Income taxes payable           0.2                81.0   
    Total liabilities           7,036.7                5,856.5   
           
    Shareholders’ Equity:      
    Preferred stock, $.01 par value, 1,000,000 shares authorized, none issued           —                —   
    Common stock, $.01 par value, 80,000,000 shares authorized, 12,111,600 and 12,522,397 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively           0.1                0.1   
    Paid-in capital           324.5                279.0   
    Retained earnings           1,321.0                1,475.6   
    Accumulated other comprehensive income (loss)           0.9                (1.0)  
    Total shareholders’ equity           1,646.5                1,753.7   
    Total liabilities and shareholders’ equity $         8,683.2      $         7,610.2   

    The MIL Network –

  • MIL-OSI New Zealand: Rural community urged to speak up

    Source: Auckland Council

    A strategy that will govern the future of Auckland’s southern rural area is open for consultation until 1 December.

    The Southern Rural Strategy is a part of of the Future Development Strategy for the development and growth of Tāmaki Makarau / Auckland.

    Franklin Ward Councillor Andy Baker says its crucial southern voices are heard.

    “Everyone I meet has an opinion on what is happening now, what should happen in the future, housing developments on prime agricultural land, or on how the rural character of our area is changing.

    “If people want to have a say, they are going to have to speak up. It is as simple as this, there’s no use staying silent then railing about how our home is changing, and the ‘good old days’ because nothing stays the same forever.

    “Auckland Council’s Southern Rural Strategy sets out how the area will accommodate a growing population, while enabling farming and food production to continue to thrive,” Baker, who chairs the working group overseeing strategy, says.

    The strategy covers the Franklin ward and includes rural land in the Howick and Papakura local board areas.  

    Franklin Local Board has already submitted a detailed response to the draft strategy, endorsing the development of a plan and noting the significant role rural Auckland plays in the well-being of the city, not only in terms of food security, but also financially.

    Board chair Angela Fulljames says many of the issues addressed in the strategy reflect the board’s own plans.

    “We believe this is a good chance to highlight the issue of deprivation through isolation. Many of our people don’t have access to things urban dwellers take for granted because they live in isolated rural communities where you can’t just pop down the road to a pool or library, and which may not even have internet access.”

    She says urban land costs and restrictions are increasingly impacting rural land use.

    “You need only drive on the motorway to see fertile land now being used to for non-rural commercial activities such as storage for relocated homes or heavy vehicles.”

    “Development in the rural south is leading to a series of private wastewater management systems and that’s a concern in terms of environmental impact and community health.”

    Drury, Opaheke, Pukekohe and Waiuku are all identified as towns where the most growth will occur in future.

    Board deputy chair Alan Cole, himself a farmer, says everyone in the south is aware of the development taking place.

    “There are long-term plans for how Drury and Pukekohe will expand over time – so it’s time for the people who make up those communities to say what they want for their towns.” 

    “Franklin is growing and will be home to another 100,000 people over the next 30 years. We need a strategy to manage that. We often boast that Auckland eats because Pukekohe exists, so it’s critical we strike the right balance.”

    You can have your say on the Southern Rural Strategy until Sunday 1 December.  

    Stay connected

    Sign up for your Local Board E-news and get the latest news and events direct to your inbox each month. Or follow us on Facebook.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Serious crash: Taradale Road, Napier

    Source: New Zealand Police (District News)

    Motorists on Taradale Road in Napier should expect delays following a crash this morning.

    One person has critical injuries following a collision between two vehicles at the intersection with Riverbend Road at Onekawa. The crash was reported about 8.10am.

    A lamp post has fallen in the crash and the northbound lane of the highway is blocked.

    The road will be closed for some time while the Serious Crash Unit conducts a scene examination.

    Diversions are in place and motorists are advised to avoid the area.

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI: North American Construction Group Ltd. Announces Results for the Third Quarter Ended September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    ACHESON, Alberta, Oct. 30, 2024 (GLOBE NEWSWIRE) — North American Construction Group Ltd. (“NACG”) (TSX:NOA.TO/NYSE:NOA) today announced results for the third quarter ended September 30, 2024. Unless otherwise indicated, financial figures are expressed in Canadian dollars and compared to the prior period ended September 30, 2023.

    Third Quarter 2024 Highlights:

    • Combined revenue of $367.2 million compared favorably to $274.8 million in the same period last year, is a third quarter record, and reflected the best operational quarter to date from the Australian fleet of the MacKellar Group which was acquired on October 1, 2023.
    • Reported revenue of $286.9 million, compared to $196.9 million in the same period last year, was primarily driven by strong equipment utilization of 84% in Australia but was also supported by the Canadian heavy equipment fleet which posted an increase from 2024 Q2.
    • Our net share of revenue from equity consolidated joint ventures was $80.3 million in 2024 Q3 and compared to $77.9 million in the same period last year as the increases at the Fargo project in the current quarter were offset by gold mine project scopes in Northern Ontario completed in the prior quarter.
    • Adjusted EBITDA of $106.4 million and margin of 29.0% compared favorably to the prior period operating metrics of $59.4 million and 21.6%, respectively, as revenue increases resulted in higher gross EBITDA with margin improvements driven by effective operations in Australia and Canada.
    • Combined gross profit of $80.4 million and margin of 21.9% compares favorably to the 13.8% posted in the same period last year as both diversification efforts and effective operations during steady and consistent months contributed to improved margins in the quarter.
    • Cash flows generated from operating activities of $48.2 million was higher than the $37.5 million generated in the prior period as higher cash generation from the strong EBITDA was offset by the temporary impact of changes to working capital in the quarter.
    • Free cash flow generated in the quarter was $10.8 million. Free cash flow prior to working capital changes and increases in capital work in progress was over $55 million resulting from strong revenues and margins offset by our routine capital maintenance programs.
    • Net debt was $882.5 million at September 30, 2024, an increase of $159.1 million from December 31, 2023, as year-to-date free cash flow usage and growth asset purchases required debt financing. The cash-related interest rate was 6.5% driven by Bank of Canada posted rates and corresponding equipment financing rates.
    • On October 29, 2024, the Board of Directors declared a regular quarterly dividend of twelve cents which represents a 20% increase from the previous rate of ten cents per quarter.
    • Additional highlights include: i) in August, signed a $375 million five-year contract for fully maintained equipment fleet in Queensland; ii) in September, surpassed the 50% completion mark at the Fargo-Moorhead flood diversion project, iii) in October, completed delivery to site of twenty-five haul trucks from Canada to Australia; iv) commenced go-live activities for the Company’s ERP system in Australia phased integration ongoing through early November and iv) extended the credit facility agreement through to October 2027.

    Joe Lambert, President and CEO, stated, “I would like to thank our operations team for their safe and efficient performance this quarter. The quarterly records set in Australia demonstrate both growth and operational excellence. The recent five-year contract award and the 25 trucks delivered from Fort McMurray have pushed this region to higher than 50% of our overall business and are further indicators of what will be an exciting 2025. In the oil sands region, we are in discussions with producers and expect to secure meaningful contracts in the near term, reaffirming strong client relationships and supporting our targets for next year.”

    Consolidated Financial Highlights

        Three months ended   Nine months ended
        September 30,   September 30,
    (dollars in thousands, except per share amounts)   2024   2023(iv)   2024   2023(iv)
    Revenue   $ 286,857     $ 196,881     $ 860,197     $ 636,398  
    Total combined revenue(i)     367,155       274,757       1,042,591       875,666  
                     
    Gross profit     65,098       26,518       168,057       89,213  
    Gross profit margin(i)     22.7 %     13.5 %     19.5 %     14.0 %
                     
    Combined gross profit(i)     80,415       38,004       205,229       130,181  
    Combined gross profit margin(i)(ii)     21.9 %     13.8 %     19.7 %     14.9 %
                     
    Operating income     53,805       14,344       130,786       50,386  
                     
    Adjusted EBITDA(i)(iii)     106,384       59,371       286,516       195,827  
    Adjusted EBITDA margin(i)(iii)     29.0 %     21.6 %     27.5 %     22.4 %
                     
    Net income     13,901       11,387       39,277       45,495  
    Adjusted net earnings(i)     31,253       14,295       72,961       52,060  
                     
    Cash provided by operating activities     48,184       37,512       119,063       109,521  
    Cash provided by operating activities prior to change in working capital(i)     79,838       41,666       222,641       134,646  
                     
    Free cash flow(i)     10,785       8,940       (32,518 )     (21,817 )
                     
    Purchase of PPE     61,812       39,295       203,772       114,210  
    Sustaining capital additions(i)     21,127       42,290       118,317       127,792  
    Growth capital additions(i)     21,437       1,727       60,987       4,475  
                     
    Basic net income per share   $ 0.52     $ 0.43     $ 1.47     $ 1.72  
    Adjusted EPS(i)   $ 1.17     $ 0.54     $ 2.73     $ 1.96  

    (i)See “Non-GAAP Financial Measures”.
    (ii)Combined gross profit margin is calculated using combined gross profit over total combined revenue.
    (iii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.
    (iv)The prior year amounts are adjusted to reflect a change in accounting policy. See “Change in significant accounting policy – Basis of presentation”.

        Three months ended   Nine months ended
        September 30,   September 30,
    (dollars in thousands)   2024   2023   2024   2023
    Consolidated Statements of Cash Flows                
    Cash provided by operating activities   $ 48,184     $ 37,512     $ 119,063     $ 109,521  
    Cash used in investing activities     (60,221 )     (26,970 )     (198,919 )     (107,123 )
    Effect of exchange rate on changes in cash     1,385       (1,100 )     508       (1,462 )
    Add back of growth and non-cash items included in the above figures:                
    Growth capital additions(i)(ii)     21,437       1,727       60,987       4,475  
    Capital additions financed by leases(i)     —       (2,229 )     (14,157 )     (27,228 )
    Free cash flow(i)   $ 10,785     $ 8,940     $ (32,518 )   $ (21,817 )

    (i)See “Non-GAAP Financial Measures”.
    (ii)Included above in Cash used in investing activities.

    Declaration of Quarterly Dividend

    On October 29, 2024, the NACG Board of Directors declared a regular quarterly dividend (the “Dividend”) of twelve Canadian cents ($0.12) per common share, payable to common shareholders of record at the close of business on November 27, 2024. The Dividend will be paid on January 3, 2025, and is an eligible dividend for Canadian income tax purposes.

    Financial Results for the Three Months Ended September 30, 2024

    Revenue for 2024 Q3 of $286.9 million represented an increase of approximately $90.0 million (or 46%) from 2023 Q3. The increase is primarily due to the inclusion of results from the MacKellar Group (“MacKellar”) following our acquisition on October 1, 2023.

    The Heavy Equipment – Australia segment showed strong performance, driven by MacKellar’s Q3 results generated from stable operating conditions during the quarter. Equipment utilization of the MacKellar fleet for the quarter of 84% was similar to 2024 Q2 but generated higher revenue as growth assets commissioned late in the second quarter in Western Australia and Queensland provided full quarter contributions. The month of July was particularly strong with utilization being above the target of 85% while August and September averaged 82%. DGI Trading Pty Ltd. (“DGI”) posted lower revenue in the quarter due to timing of large component sales but continues to benefit from international demand for low-cost used components and major parts required by heavy equipment fleets in the mining industry.

    The Heavy Equipment – Canada segment posted a decline in revenue compared to the prior year as equipment utilization was 51% for the quarter in comparison to 56% in 2023 Q3. Quarter over quarter, the decrease in revenue represented a 23% decrease and was primarily driven by changes in work scopes at the Fort Hills and Syncrude mines offset by increases in operating hours at the Millennium mine. Additionally, the prior year’s quarter benefited from higher utilization rates from NACG assets being operated at the gold mine in northern Ontario, a project that concluded in 2023 Q3. When comparing to 2024 Q2, top-line revenue achieved in the quarter was 8% higher on consistent operating conditions from July to September as well as increased work scopes at the Millennium mine.

    Combined revenue of $367.2 million represented a $92.4 million (or 34%) increase from 2023 Q3. Our share of revenue generated in 2024 Q3 by joint ventures and affiliates was $80.3 million, compared to $77.9 million in 2023 Q3. The Fargo-Moorhead flood diversion project, which completed another strong operational quarter, posted a 32% increase from scopes completed in the prior quarter and surpassed the 50% completion mark during the quarter. Mostly offsetting this variance was the completion of the gold mine project in northern Ontario which occurred in 2023 Q3.

    Combined gross profit and margin of $80.4 million and 21.9% compares favorably to the $38.0 million and 13.8% posted in the prior quarter and was the compilation of strong operations across all business lines. In particular, consistent weather conditions in Australia resulted in productive operations and a 24.6% gross margin over the three months. In Canada, heavy equipment operations posted a 19.4% margin as operations stabilized from the first half of the year. The joint ventures posted a 19.1% margin, up from 14.7% in the prior quarter, as Nuna returned to profitable operations. The increases in margin were offset slightly within the Fargo joint ventures as additional costs were recognized in the quarter primarily related to project cost escalation.

    Adjusted EBITDA and the associated margin of $106.4 million and 29.0% exceeded our 2023 Q3 results of $59.4 million and 21.6%, respectively. As mentioned above and despite lower revenue in the oil sands region, effective and efficient operation of the heavy equipment fleets in Australia and Canada generated a strong EBITDA margin. EBITDA margin for this quarter was more consistent with the first quarter and is reflective of the underlying consistent business of our heavy equipment fleets.

    Depreciation of our Canadian and Australian heavy equipment fleets was 13.4% of revenue in the quarter. Depreciation as a percentage of revenue was 16.4% for the Heavy Equipment – Canada fleet which is higher than our historical average as increased customer demand for heavy equipment rentals has changed the revenue profile. The Heavy Equipment – Australia fleet, which averaged approximately 11.7% of revenue reflected both productive operations in the quarter as well as the depreciation of fair market values allocated upon purchase. On a combined basis, depreciation averaged 12.1% of combined revenue in the quarter as the lower capital intensity in Fargo and Nuna joint ventures modestly reduced the ratio.

    General and administrative expenses (excluding stock-based compensation) were $9.6 million, or 3.4% of revenue, compared to $6.9 million, or 3.5% of revenue in 2023 Q3. The increase in expenses reflects the acquisition of the MacKellar Group. Cash related interest expense for the quarter was $14.2 million at an average cost of debt of 6.5%, compared to $7.8 million at an average cost of debt of 7.1% in 2023 Q3, as rates posted by the Bank of Canada directly impact our Credit Facility and have a delayed impact on the rates for secured equipment-backed financing. Total interest expense was $15.0 million in the quarter, compared to $8.1 million in 2023 Q3 based on the debt financing incurred upon acquisition of the MacKellar Group on October 1, 2023.

    Adjusted earnings per share (“EPS”) of $1.17 on adjusted net earnings of $31.3 million was up 117% from the prior year figure of $0.54, consistent with the adjusted EBIT performance which was up 144% quarter over quarter. As mentioned above, the step-changes in interest from the MacKellar acquisition offset EBIT performance with the effective income tax rates being comparable for both quarters. Weighted-average common shares for the third quarters of 2024 and 2023 were relatively stable at 26,823,124 and 26,700,303, respectively, net of shares classified as treasury shares.

    For the quarter, free cash flow generation was $10.8 million, driven primarily by adjusted EBITDA of $106.4 million. After accounting for sustaining capital additions of $21.1 million, cash interest expense of $14.2 million, and cash taxes paid of $9.3 million, the positive cash flow generation reached $61.8 million. However, changes in working capital and increases in capital work in progress deferred approximately $45 million of cash flow to future quarters, and the accumulation of distributable profits in our joint ventures negatively impacted cash flow by $10 million. Sustaining capital expenditures were focused on routine maintenance of heavy equipment fleets in Australia and Canada, with Canadian expenditures being lower than previous periods due to reduced operating hours and a disciplined approach in preparation for winter work scopes.

    2024 Strategic Focus Areas

    • Safety – now on an international basis, maintain our uncompromising commitment to health and safety while elevating the standard of excellence in the field;
    • Execution – enhance equipment availability in Canada and Australia through in-house fleet maintenance, reliability programs, technical improvements, and management systems;
    • Operational excellence – with a specific focus on Nuna Group of Companies, put into action practical and experienced-based protocols to ensure predictable high-quality project execution;
    • Integration – implement ERP and best practices at MacKellar, including identification of opportunities to better utilize our capital and equipment in Australia;
    • Diversification – pursue diversification of customers and resources through strategic partnerships, industry expertise and investment in Indigenous joint ventures; and
    • Sustainability – further develop and deliver into our environmental, social, and governance targets as disclosed and committed to in our annual reporting.

    Liquidity

    Our current liquidity positions us well moving forward to fund organic growth and the required correlated working capital investments. Including equipment financing availability and factoring in the amended Credit Facility agreement, total available capital liquidity of $173.1 million includes total liquidity of $135.7 million and $20.0 million of unused finance lease borrowing availability as at September 30, 2024. Liquidity is primarily provided by the terms of our $485.7 million credit facility which allows for funds availability based on a trailing twelve-month EBITDA as defined in the agreement.

        September 30,
    2024    		   December 31,
    2023
    Cash   $ 77,670     $ 88,614  
    Credit Facility borrowing limit     485,700       478,022  
    Credit Facility drawn     (395,700 )     (317,488 )
    Letters of credit outstanding     (32,011 )     (31,272 )
    Cash liquidity(i)   $ 135,659     $ 217,876  
    Finance lease borrowing limit     350,000       350,000  
    Other debt borrowing limit     20,000       20,000  
    Equipment financing drawn     (267,544 )     (220,466 )
    Guarantees provided to joint ventures     (65,008 )     (74,831 )
    Total capital liquidity(i)   $ 173,107     $ 292,579  

    (i)See “Non-GAAP Financial Measures”.


    NACG’s Outlook for 2024

    The following table provides projected key measures for 2024. These measures are predicated on contracts currently in place, including expected renewals, and the heavy equipment fleet that we own and operate.

    Key measures   2024
    Combined revenue(i)   $1.4 – $1.5B
    Adjusted EBITDA(i)   $395 – $415M
    Sustaining capital(i)   $150 – $170M
    Adjusted EPS(i)   $3.95 – $4.15
    Free cash flow(i)   $100 – $120M
         
    Capital allocation    
    Growth spending(i)   $85 – $95M
    Net debt leverage(i)   Targeting 2.1x

    (i)See “Non-GAAP Financial Measures”.


    Conference Call and Webcast

    Management will hold a conference call and webcast to discuss our financial results for the quarter ended September 30, 2024, tomorrow, Thursday, October 31, 2024, at 7:00 am Mountain Time (9:00 am Eastern Time).

    The call can be accessed by dialing:
              Toll free: 1-800-717-1738
              Conference ID: 86919

    A replay will be available through November 29, 2024, by dialing:
              Toll Free: 1-888-660-6264
              Conference ID: 86919
              Playback Passcode: 86919

    The 2024 Q3 earnings presentation for the webcast will be available for download on the company’s website at www.nacg.ca/presentations/

    The live presentation and webcast can be accessed at:

    https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI:4;F:QS!10100&ShowUUID=71BDBAD7-6AC1-4CF9-9CFF-5BBCBBDEF924

    A replay will be available until November 29, 2024, using the link provided.

    Basis of Presentation

    We have prepared our consolidated financial statements in conformity with accounting principles generally accepted in the United States (“US GAAP”). Unless otherwise specified, all dollar amounts discussed are in Canadian dollars. Please see the Management’s Discussion and Analysis (“MD&A”) for the quarter ended September 30, 2024, for further detail on the matters discussed in this release. In addition to the MD&A, please reference the dedicated 2024 Q3 Results Presentation for more information on our results and projections which can be found on our website under Investors – Presentations.

    Change in significant accounting policy – Basis of presentation

    During the first quarter of 2024, we changed our accounting policy for the elimination of our proportionate share of profit from downstream sales to affiliates and joint ventures to record through equity earnings in affiliates and joint ventures on the Consolidated Statements of Operations and Comprehensive Income. Prior to this change, we eliminated our proportionate share of profit on downstream sales to affiliates and joint ventures through revenue and cost of sales. The change in accounting policy simplifies the presentation for downstream profit eliminations and has no cumulative impact on retained earnings. We have accounted for the change retrospectively in accordance with the requirements of US GAAP Accounting Standards Codification (“ASC”) 250 by restating the comparative period. For details of retrospective changes, refer to note 16 in the Financial Statements.

    Forward-Looking Information

    The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words “anticipate”, “believe”, “expect”, “should” or similar expressions and include all information provided under the above heading “NACG’s Outlook”.

    The material factors or assumptions used to develop the above forward-looking statements and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the three and nine months ended September 30, 2024. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA. These free documents can be obtained by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.com.

    Non-GAAP Financial Measures

    This press release presents certain non-GAAP financial measures because management believes that they may be useful to investors in analyzing our business performance, leverage and liquidity. The non-GAAP financial measures we present include “adjusted EBIT”, “adjusted EBITDA”, “adjusted EBITDA margin”, “adjusted EPS”, “adjusted net earnings”, “capital additions”, “capital work in progress”, “cash provided by operating activities prior to change in working capital”, “combined gross profit”, “combined gross profit margin”, “equity investment EBIT”, “free cash flow”, “general and administrative expenses (excluding stock-based compensation)”, “gross profit margin”, “growth capital”, “margin”, “net debt”, “sustaining capital”, “total capital liquidity”, “total combined revenue”, and “total debt”. A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer’s historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Each non-GAAP financial measure used in this press release is defined and reconciled to its most directly comparable GAAP measure in the “Non-GAAP Financial Measures” section of our Management’s Discussion and Analysis filed concurrently with this press release.

    Reconciliation of total reported revenue to total combined revenue

        Three months ended   Nine months ended
        September 30,   September 30,
    (dollars in thousands)     2024   2023(ii)     2024   2023(ii)
    Revenue from wholly-owned entities per financial statements   $ 286,857     $ 196,881     $ 860,197     $ 636,398  
    Share of revenue from investments in affiliates and joint ventures     144,574       168,667       382,789       516,637  
    Elimination of joint venture subcontract revenue     (64,276 )     (90,791 )     (200,395 )     (277,369 )
    Total combined revenue(i)   $ 367,155     $ 274,757     $ 1,042,591     $ 875,666  

    (i)See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in accounting policy. See “Change in significant accounting policy – Basis of presentation”.


    Reconciliation of reported gross profit to combined gross profit

        Three months ended   Nine months ended
        September 30,   September 30,
    (dollars in thousands)     2024
    		   2023(ii)     2024
    		   2023(ii)
    Gross profit from wholly-owned entities per financial statements   $ 65,098     $ 26,518     $ 168,057     $ 89,213  
    Share of gross profit from investments in affiliates and joint ventures     15,317       11,486       37,172       40,968  
    Combined gross profit(i)   $ 80,415     $ 38,004     $ 205,229     $ 130,181  

    (i)See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in accounting policy. See “Change in significant accounting policy – Basis of presentation”.


    Reconciliation of net income to adjusted net earnings, adjusted EBIT, and adjusted EBITDA

        Three months ended   Nine months ended
        September 30,   September 30,
    (dollars in thousands)     2024     2023     2024     2023
    Net income   $ 13,901     $ 11,387     $ 39,277     $ 45,495  
    Adjustments:                
    Loss (gain) on disposal of property, plant and equipment     348       (311 )     641       189  
    Write-down on assets held for sale     —       —       4,181       —  
    Stock-based compensation (benefit) expense     1,332       5,583       3,081       16,324  
    Change in fair value of contingent obligation from adjustments to estimates     17,727       —       26,585       —  
    Restructuring costs     —       —       4,517       —  
    Acquisition costs     —       1,161       —       1,161  
    Loss on equity investment customer bankruptcy claim settlement     —       —       —       759  
    Loss (gain) on derivative financial instruments     572       (2,618 )     845       (6,979 )
    Net unrealized loss (gain) on derivative financial instruments included in equity earnings in affiliates and joint ventures     1,836       572       2,806       (649 )
    Tax effect of the above items     (4,463 )     (1,479 )     (8,972 )     (4,240 )
    Adjusted net earnings(i)     31,253       14,295       72,961       52,060  
    Adjustments:                
    Tax effect of the above items     4,463       1,479       8,972       4,240  
    Increase in fair value of contingent obligation from interest accretion expense     4,262       —       12,360       —  
    Interest expense, net     15,003       8,119       44,939       22,941  
    Income tax expense     6,768       1,733       16,325       11,892  
    Equity earnings in affiliates and joint ventures(iii)     (4,428 )     (4,277 )     (9,545 )     (22,963 )
    Equity investment EBIT(i)(iii)     4,365       3,983       7,152       23,307  
    Adjusted EBIT(i)     61,686       25,332       153,164       91,477  
    Adjustments:                
    Depreciation and amortization     38,662       28,884       122,844       90,239  
    Write-down on assets held for sale     —       —       (4,181 )     —  
    Equity investment depreciation and amortization(i)     6,036       5,155       14,689       14,111  
    Adjusted EBITDA(i)   $ 106,384     $ 59,371     $ 286,516     $ 195,827  
    Adjusted EBITDA margin(i)(ii)     29.0 %     21.6 %     27.5 %     22.4 %

    (i)See “Non-GAAP Financial Measures”.
    (ii)Adjusted EBITDA margin is calculated using adjusted EBITDA over total combined revenue.
    (iii)The prior year amounts are adjusted to reflect a change in presentation. See “Accounting Estimates, Pronouncements and Measures”.


    Reconciliation of equity earnings in affiliates and joint ventures to equity investment EBIT

        Three months ended   Nine months ended
        September 30,   September 30,
    (dollars in thousands)     2024   2023(ii)     2024   2023(ii)
    Equity earnings in affiliates and joint ventures   $ 4,428     $ 4,277     $ 9,545     $ 22,963  
    Adjustments:                
    Interest (income) expense, net     (618 )     (742 )     (1,337 )     (915 )
    Income tax expense     738       448       (698 )     1,294  
    Loss (gain) on disposal of property, plant and equipment     (183 )     —       (358 )     (35 )
    Equity investment EBIT(i)   $ 4,365     $ 3,983     $ 7,152     $ 23,307  

    (i)See “Non-GAAP Financial Measures”.
    (ii)The prior year amounts are adjusted to reflect a change in accounting policy. See “Change in significant accounting policy – Basis of presentation”.


    About the Company

    North American Construction Group Ltd. is a premier provider of heavy civil construction and mining services in Canada, the U.S. and Australia. For 70 years, NACG has provided services to the mining, resource and infrastructure construction markets.

    For further information contact:

    Jason Veenstra
    Chief Financial Officer
    North American Construction Group Ltd.
    (780) 960-7171
    IR@nacg.ca
    www.nacg.ca

    Interim Consolidated Balance Sheets

    (Expressed in thousands of Canadian Dollars)
    (Unaudited) 

        September 30,
    2024    		   December 31,
    2023
    Assets        
    Current assets        
    Cash   $ 77,670     $ 88,614  
    Accounts receivable     158,179       97,855  
    Contract assets     16,128       35,027  
    Inventories     77,150       64,962  
    Prepaid expenses and deposits     8,477       7,402  
    Assets held for sale     7,355       1,340  
          344,959       295,200  
    Property, plant and equipment, net of accumulated depreciation of $474,655 (December 31, 2023 – $423,345)     1,235,447       1,142,946  
    Operating lease right-of-use assets     13,404       12,782  
    Investments in affiliates and joint ventures     85,192       81,435  
    Other assets     5,082       7,144  
    Intangible assets     10,052       6,971  
    Total assets   $ 1,694,136     $ 1,546,478  
    Liabilities and shareholders’ equity        
    Current liabilities        
    Accounts payable   $ 123,110     $ 146,190  
    Accrued liabilities     47,724       72,225  
    Contract liabilities     300       59  
    Current portion of long-term debt     94,485       81,306  
    Current portion of contingent obligations     37,601       22,501  
    Current portion of operating lease liabilities     1,852       1,742  
          305,072       324,023  
    Long-term debt     723,487       611,313  
    Contingent obligations     101,752       93,356  
    Operating lease liabilities     12,010       11,307  
    Other long-term obligations     41,768       41,001  
    Deferred tax liabilities     118,133       108,824  
          1,302,222       1,189,824  
    Shareholders’ equity        
    Common shares (authorized – unlimited number of voting common shares; issued and outstanding – September 30, 2024 – 27,827,282 (December 31, 2023 – 27,827,282))     229,455       229,455  
    Treasury shares (September 30, 2024 – 996,435 (December 31, 2023 – 1,090,187))     (15,809 )     (16,165 )
    Additional paid-in capital     22,524       20,739  
    Retained earnings     154,398       123,032  
    Accumulated other comprehensive income (loss)     1,346       (407 )
    Shareholders’ equity     391,914       356,654  
    Total liabilities and shareholders’ equity   $ 1,694,136     $ 1,546,478  

    Interim Consolidated Statements of Operations and
    Comprehensive Income

    (Expressed in thousands of Canadian Dollars, except per share amounts)
    (Unaudited) 

        Three months ended   Nine months ended
        September 30,   September 30,
          2024   2023(i)     2024   2023(i)
    Revenue   $ 286,857     $ 196,881     $ 860,197     $ 636,398  
    Cost of sales     183,405       141,771       570,222       457,856  
    Depreciation     38,354       28,592       121,918       89,329  
    Gross profit     65,098       26,518       168,057       89,213  
    General and administrative expenses     10,945       12,485       36,630       38,638  
    Loss (gain) on disposal of property, plant and equipment     348       (311 )     641       189  
    Operating income     53,805       14,344       130,786       50,386  
    Equity earnings in affiliates and joint ventures     (4,428 )     (4,277 )     (9,545 )     (22,963 )
    Interest expense, net     15,003       8,119       44,939       22,941  
    Change in fair value of contingent obligations     21,989       —       38,945       —  
    Loss (gain) on derivative financial instruments     572       (2,618 )     845       (6,979 )
    Income before income taxes     20,669       13,120       55,602       57,387  
    Current income tax expense     2,238       1,495       5,003       3,198  
    Deferred income tax expense     4,530       238       11,322       8,694  
    Net income   $ 13,901     $ 11,387     $ 39,277     $ 45,495  
    Other comprehensive income                
    Unrealized foreign currency translation (gain) loss     (1,115 )     1,100       (1,753 )     1,462  
    Comprehensive income   $ 15,016     $ 10,287     $ 41,030     $ 44,033  
    Per share information                
    Basic net income per share   $ 0.52     $ 0.43     $ 1.47     $ 1.72  
    Diluted net income per share   $ 0.47     $ 0.39     $ 1.32     $ 1.51  

    (i)The prior year amounts are adjusted to reflect a change in accounting policy. See “Accounting Estimates, Pronouncements and Measures”.

    The MIL Network –

  • MIL-OSI: CPS to Host Conference Call on Third Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Oct. 30, 2024 (GLOBE NEWSWIRE) — Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that it will hold a conference call on Friday, November 1, 2024 at 1:00 p.m. ET to discuss its third quarter 2024 operating results.

    Those wishing to participate can pre-register for the conference call at the following link https://register.vevent.com/register/BIaadcdbbe0a7849aa918eac85c86475ff. Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the schedule start time. A replay will be available beginning two hours after conclusion of the call for 12 months via the Company’s website at https://ir.consumerportfolio.com/investor-relations.

    About Consumer Portfolio Services, Inc.

    Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

    Investor Relations Contact

    Danny Bharwani, Chief Financial Officer

    949-753-6811

    The MIL Network –

  • MIL-OSI Global: I research rap lyrics and testified in a Toronto rapper’s murder trial

    Source: The Conversation – Canada – By Jabari M. Evans, Assistant Professor of Race and Media, School of Journalism and Mass Communications, University of South Carolina

    Toronto rapper Top5 appearing in his music video ‘Movie’ featuring the rappers Why G and Bundog. The Crown recently stayed murder charges against Top5 after a judge ruled his lyrics and social media content could not be used as evidence. (YouTube/Top5)

    In May, I was in my office grading papers when an email came through from Arika, a paralegal working for Toronto lawyer Gary Grill. They were reaching out to me about potentially serving as an expert witness in a murder trial. The case involved Hassan Ali, better known as the rapper Top5, who was charged in 2021 with first-degree murder in the shooting of 20-year-old accounting student Hashim Omar Hashi.

    Arika mentioned that they had come across my research on drill rap and hoped I could testify on the inadmissibility of rap lyrics and music videos as criminal evidence. Without hesitation, I agreed.

    As an academic expert on hip-hop culture, Black youth, the music industry and the digitization of artistic expression, my research explores the intersection of cultural production, race and legal systems, focusing particularly on drill music culture.

    Drill music is a subgenre of hip-hop that originated in Chicago, characterized by its gritty, raw lyrics focused on street life, violence and survival, often reflecting the harsh realities of inner-city environments.

    Lyrics as evidence

    In September, a judge ruled that Top5’s social media posts, music videos and lyrics were inadmissible as evidence, recognizing that much of what he posted was part of his artistic persona. As a result, the charges against him were stayed.

    The Canadian legal system, like its U.S. counterpart, has allowed these forms of creative expression to be weaponized against artists. This was evident in the case of Chael Mills and Lavare Williams, where rap lyrics were used as evidence contributing to their convictions for murder. That case (and others like it) opened the door for rap lyrics to be used against artists in court, further entrenching harmful stereotypes about Black men and violence. This practice is unjust and perpetuates racial biases.

    Though Top5’s lyrics didn’t explicitly threaten the victim in this case, the prosecution used songs and social media posts in which he alludes to the Go Getem Gang (his crew) being a criminal group. In 2023, he appeared in a music video while in prison where he said: “I was 18 when I bought a gun, 22 when I shot your son.”

    Using rap lyrics and music videos as evidence is not only unfair but it perpetuates the dangerous assumption that rappers’ personas are entirely authentic representations of who they are. This often results in creative expression being misinterpreted as autobiographical fact, jeopardizing someone’s freedom based on their art.

    However, when I delved into Top5’s online presence, I was struck by just how sensational his persona was. Beyond the music videos, he is an avid vlogger and live streamer, frequently discussing recent shootings, open cases involving his friends and making overt threats toward his rivals — all while name-dropping his connections, including Drake. He was using social media in a way that blurred the line between artistic performance and self-incrimination.

    This placed me in a difficult moral position. Reviewing all the evidence and seeing Top5’s brazen online behaviour made me wonder whether defending him would undermine my larger argument: that rap lyrics and videos shouldn’t be used as evidence because they are artistic expressions, not confessions.

    However, this internal debate led me to reaffirm my stance: the very assumptions I was grappling with were precisely what I had been fighting against. Even if Top5 seemed to push the boundaries, it was still unjust for the legal system to interpret his art and social media as literal truths.

    ‘Heard of Me’ by Top5 featuring Why G.

    Clout chasing

    What became clear to me was that Top5, like many young rappers, was caught in the grip of clout chasing — a phenomenon driven by the need for attention and validation in today’s social media age.

    Clout chasing isn’t just about gaining followers; it reflects deeper issues in society, especially among Black youth.

    As sociologist Elijah Anderson described, the tension between earning respect in the streets and striving for middle-class success is central to understanding drill rappers like Top5. On one side, Black youth are encouraged to adopt “decency” as defined by white society and achieve upward mobility through socially acceptable means.

    On the other, they must navigate the “code of the streets,” where respect is earned through fearlessness and survival, often in defiance of mainstream societal norms.

    Top5’s rise illustrates this tension vividly. His strategy for visibility online relied heavily on broadcasting the most sensational aspects of his life — threats, rivalries and bravado — all while crafting a persona as a street entrepreneur.

    However, Top5’s lyrics, videos and social media posts exist in a gray area between reality and performance art. What Hassan Ali creates as Top5 is a carefully constructed character, not a confession to crimes.

    This distinction is crucial in understanding why these forms of expression should not be used as evidence in court. The very nature of rap as a genre involves exaggeration, metaphor and artistic license, and treating it as literal truth is both unjust and misleading.

    The broader implications of clout chasing and the digital age on legal proceedings are significant. Top5’s use of digital clout is, in many ways, a symptom of what some scholars have called “emotional illiteracy” among some young Black men — a kind of bravado or fearlessness that manifests as aggression or recklessness online.

    Yet, this behaviour is often misunderstood. It’s not about incriminating oneself. It’s about asserting one’s worth and survival in a society that has long marginalized young Black voices.

    A trailer for ‘As We Speak: Rap Music on Trial,’ a documentary that explores the weaponization of rap lyrics in the U.S. criminal justice system.

    Legal implications

    The judge’s decision in Top5’s case was groundbreaking. It underscored that even in an era of social media oversharing, courts must be careful not to conflate performance with reality. For the first time, a court acknowledged that an artist’s social media content could be as much a part of their creative self-expression as their lyrics or music videos.

    This ruling was not only significant for rap and hip-hop artists who have long been subjected to legal scrutiny based on their work. It also signals a growing recognition that creative expression — whether in the form of lyrics, videos or even Instagram posts — cannot be treated as literal fact without risking injustice.

    As rap music continues to evolve and engage with social issues, it’s imperative that the legal system evolves alongside it, developing a more nuanced understanding of artistic expression in the digital age.

    Using rap music as evidence in criminal trials is not just a legal issue but a cultural one. It speaks to how society views Black art and Black lives. By treating rap lyrics as confessions, the legal system perpetuates harmful stereotypes about Black men as inherently violent or criminal.

    The decision in Top5’s case represents a step forward, but the fight for justice is far from over. We must remain vigilant in protecting the creative freedoms of all artists, regardless of how controversial their work may seem.

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

    – ref. I research rap lyrics and testified in a Toronto rapper’s murder trial – https://theconversation.com/i-research-rap-lyrics-and-testified-in-a-toronto-rappers-murder-trial-241884

    MIL OSI – Global Reports –

  • MIL-OSI USA: Booker Announces $406 Million in Federal Grants for New Jersey Projects

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker

    NEWARK N.J. –  Today, U.S. Senator Cory Booker (D-NJ) announced a total of $406 million in federal grants being awarded to New Jersey by the Environmental Protection Agency (EPA) and the Federal Railroad Administration (FRA). EPA’s 2024 Clean Ports Program (CPP) is awarding the Port Authority of New York and New Jersey (Port Authority) $347 million total to execute their plan to implement alternative freight movement and zero-emissions options across the marine terminals operated by the Port Authority and its private sector partners in New York and New Jersey. The program will also award $55 million to the SeaStreak LLC to deploy high-speed zero-emission ferries for service between northern New Jersey and New York City, as well as for accompanying charging infrastructure and for training and workforce development. Additionally, the FRA is awarding $4 million to the Morristown & Erie Railway (ME) to provide more efficient and reliable freight rail operations along a nine-mile railway that runs from Morristown, New Jersey to Roseland, New Jersey. 

    Senator Booker wrote in support of the Port Authority’s and the Morristown & Erie Railway’s applications for these projects in May and July of this year, respectively.

    The Port Authority’s “Catalyzing Change: Zero Emissions NY-NJ Port Projects for a Greener Future” plan is receiving $344 million to establish a sustainable zero emissions operation at the Port of New York and New Jersey, the largest container port on the East Coast and third largest in the country. The Port Authority’s Port Master Plan 2050 would commit to achieving net zero carbon emissions by 2050. The second grant of $3 million would fund a drayage truck movement study, increased community air monitoring, and the establishment of a Ports Community Advisory Council.

    “EPA’s $347 million award to the Port Authority of New York and New Jersey to execute their ‘Catalyzing Change’ plan is a huge win for New Jersey, and a bold step toward a cleaner, more sustainable future,” said Senator Booker. “Investing in zero-emissions technologies and enhancing our freight operations will help us protect our environment and boost our regional economy. I am proud to have supported this award that will create jobs, improve air quality, protect our planet, and ensure that our supply chain remains efficient and resilient.” 

    “We appreciate the recognition and support from our government and community partners to ensure the critical work at the Port of New York and New Jersey is accomplished with an eye toward the future,” said Port Authority Chairman Kevin O’Toole. “This funding will reverberate well beyond the docks, allowing us to work together with nearby communities to ensure that the busiest port on the East Coast sets a new standard for collaboration, innovation, and sustainability.”

    “We’re immensely grateful and thrilled to receive this significant funding from the EPA, allowing us to accelerate the deployment of zero-emission equipment across our port facilities,” said Port Authority Executive Director Rick Cotton. “This award is a crucial step forward in our commitment to sustainability and will help us meet the Agency’s net-zero emissions goal by 2050. We are grateful for the EPA’s partnership as the Port Authority continues our aggressive pursuit of our climate agenda.”

    “These extraordinary awards represent a significant step toward our community engagement and sustainability efforts, and we extend our sincere appreciation to all of the port partners who made it happen,” said Bethann Rooney, port director at the Port Authority of New York and New Jersey. “The cargo moved through the Port radiates out across the country, but it would not be possible without the collaboration of the port community. Our goal is to ensure that all stakeholders have a voice as we look to maximize the impact of every dollar to deliver cleaner air, new equipment, and a port that leads the way on sustainability and community engagement.”

    “Ports are essential to moving and bringing us goods that we depend on, but they are also sources of air and climate pollution impacting the surrounding communities,” said EPA Regional Administrator Lisa F. Garcia. “By advancing zero-emission technologies, we are tackling air pollution head-on while creating good-paying jobs that support local economies and families. This tremendous investment demonstrates EPA’s commitment to environmental and climate justice, and economic opportunity while also ensuring that our port communities can breathe cleaner air.”

    The grant money for the Morristown-Erie Railway will be awarded through the FRA’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) program. The project will replace five-track miles of 75-year-old lite-weight jointed rail and eight switches with 115-pound or larger rail in addition to other updates. These improvements will minimize derailments and reduce noise levels, and help the railway expand its operations to manage the increase of freight coming in from the Port of New York and New Jersey.

    “This $4 million grant from the FRA’s CRISI program is a crucial investment in the Morristown & Erie Railway that will enhance the safety and efficiency of our freight operations,” said Senator Booker. “Upgrading our aging infrastructure will benefit freight rail workers and consumers from Morristown to Roseland who rely on these tracks. This project will create jobs, support the local economy, and ensure this railway remains safe and efficient for years to come.” 

    “We are pleased to have received Senator Booker’s support in receiving this $4MM CRISI grant toward a total $6MM project to replace rail switches and extend track on our rail line.  It will enable us to continue providing environmentally superior rail freight service to our customers, facilitate customer growth and additional employment in our Morris and Essex County service territory,” said Morristown & Erie President Charles Jensen.

    MIL OSI USA News –

  • MIL-OSI USA: Team Maryland Joins President Biden to Celebrate $147 Million Investment to Create Clean Jobs and Support the Port of Baltimore’s Zero-Emission Goals

    US Senate News:

    Source: United States Senator for Maryland Ben Cardin
    ANNAPOLIS, Md. — U.S. Senators Ben Cardin and Chris Van Hollen joined Governor Wes Moore today joined President Joseph R. Biden at the Port of Baltimore to celebrate more than $147 million in federal funding to create good-paying, clean jobs and to expedite decarbonization and electrification efforts at the Port. The U.S. Environmental Protection Agency awarded the funding to the Port of Baltimore through its Clean Ports Program, created under President Biden’s Inflation Reduction Act. 
    “The Port of Baltimore is a vital economic engine for the state and a leader among the nation’s ports. As we work to improve the port, it is essential that we build for the future. The projects supported by the Clean Ports Program will help reduce emissions, improve air quality in the Baltimore region and create more clean energy jobs,” said U.S. Senator Ben Cardin. “The Biden-Harris Administration’s bold investments in modernizing our infrastructure are driving our economy forward while enabling us to take on climate change in a meaningful way.” 
    “In Maryland, we aren’t going to choose between building a competitive state and a sustainable one -— we will do both at the same time,” said Gov. Moore. “In partnership with the Biden-Harris Administration, we are investing in the Port of Baltimore and electrifying the way to a greener, cleaner, and healthier future with a strong economy and good-paying jobs.”  
    The Port of Baltimore generates about 20,300 direct jobs, with more than 273,000 jobs overall linked to port activities. The funding will enable the Maryland Port Administration and its private partners to purchase 213 pieces of new zero-emission vehicles, equipment, and charging infrastructure that will replace old, inefficient, and polluting diesel combustion engines. The funding will also pay for capacity upgrades to the port’s electrical grid, which will help significantly reduce greenhouse gas emissions with an estimated 35% decrease in carbon dioxide equivalency compared to 2020 levels. 
    “We fought to pass the Inflation Reduction Act to create good-paying jobs in our communities while tackling the climate crisis head-on, and today’s announcement shows these investments are being put to work,” said U.S. Senator Chris Van Hollen. “This new federal funding will support the Port of Baltimore’s transition to electric infrastructure as part of its plans to reduce emissions – both bolstering the port’s growth and improving air quality for nearby communities. These efforts will help strengthen Baltimore’s economy and create more local jobs for Marylanders.” 
    “The tremendous projects selected for these federal funding awards will improve air quality and combat climate change by dramatically diminishing the Port of Baltimore’s greenhouse gas and toxic pollutant emissions via installation of zero-emission cargo handling equipment and trucks, while also bolstering the Maryland Port Administration’s overall emissions reduction strategy. These extraordinary federal investments into our port are consistent with our collective duty to preserve the planet – while also continuing to uplift the Port of Baltimore’s workforce and surrounding communities in the transition to a zero-emissions facility,” said Congressman Kweisi Mfume. “As exemplified by this compelling announcement, the historic Inflation Reduction Act continues to tackle the climate crisis with fierce urgency right here in Baltimore.”
    “The Biden-Harris Administration’s Investing in America agenda continues to leave no community behind and promote clean air and water in communities that have long borne the brunt of pollution,” said Congressman Steny Hoyer. “Thanks to the Inflation Reduction Act that I brought to the House Floor as Majority Leader last Congress, the Port of Baltimore is getting the tools it needs to upgrade its equipment, improve electric charging infrastructure, and fight the climate crisis in a way that benefits Marylanders across the state. As Chair of the Regional Leadership Council, I appreciate Administrator Regan and the Biden-Harris Administration’s partnership as we continue to ensure the historic investments Democrats passed last Congress reach every community in America. We must continue to work together to strengthen the Port of Baltimore and ensure environmental justice for all Marylanders.”
    “The Port of Baltimore is a critical hub for Maryland and our nation as a whole, supporting good-paying jobs, driving economic growth and keeping goods and resources moving. This investment will improve the health of our region’s environment and provide cleaner air for port workers and nearby communities – all while ensuring that the Port remains a thriving center of commerce for generations to come,” said Congressman John Sarbanes. “I appreciate the Biden-Harris Administration for its continued partnership to enhance clean energy and improve infrastructure in Maryland, and for its tireless efforts to advance environmental justice and create a greener, more sustainable future across the country.”
    “This critical investment into the Port of Baltimore will not only keep us globally competitive, but will help mitigate pollution driving climate change,” said Congressman Dutch Ruppersberger. “The Port of Baltimore has always been at the forefront of efficiency and productivity and now we are leading the nation environmentally. I am proud to have supported this funding request and thank the Biden Administration for this strategic and responsible use of tax dollars.”
    Federal grant funding will also support community engagement with neighborhoods such as Turner Station, Brooklyn, and Curtis Bay.  
    “These improvements will provide an immediate impact to the people who live and work around the Port of Baltimore and who have borne the brunt of transportation-related health impacts,” said Maryland Department of Transportation Secretary Paul Wiedefeld. “Thanks to the EPA’s grants, the Port of Baltimore and its partners are accelerating their collective efforts to support Maryland’s climate goals of reaching net zero by 2045.” 
    Today’s announcement builds on the Biden Administration’s championship of the Port of Baltimore and the State of Maryland’s infrastructure needs, which includes the recent $30.9 million Infrastructure for Rebuilding America award for Dundalk Marine Terminal Reconstruction of Berth 11 and the $7.5 million award for Curtis Creek Drawbridge Rehabilitation and Resiliency projects. The projects directly advance the federal government and State of Maryland’s partnership to recover and rebuild after the DALI struck the Francis Scott Key Bridge.
    “The Maryland Port Administration is committed to integrating our overall mission of increasing cargo and generating jobs through the Port of Baltimore with forward-looking environmental and sustainability solutions,” said Maryland Port Administration Executive Director Jonathan Daniels. “Our customers and port partners are driven to change the way they do business to reduce greenhouse gas emissions, decarbonize, increase electrification throughout our marine terminals, and, most importantly, positively impact our near-port environmental justice communities.”
    To learn more about the clean port project and its benefits, read the Port of Baltimore’s grant proposal. 

    MIL OSI USA News –

  • MIL-OSI Security: Four members of Tidewater drug trafficking conspiracy and two who supplied firearms sentenced to prison

    Source: Office of United States Attorneys

    NORFOLK, Va. – Four people have been sentenced to prison for their roles in a drug trafficking conspiracy that distributed methamphetamine and other drugs in the Tidewater area.  Two others have been sentenced to prison for providing firearms to one of the members of the drug trafficking conspiracy.

    By the fall of 2021, Leonard Tromell Brooks, 41, of Virginia Beach, a previously convicted drug trafficker, was conspiring with Kyle Derek Dean, 33, and Katie Loren Harbor, 29, both of Norfolk, to traffic significant quantities of methamphetamine in the Tidewater area. By January 2022, Colin Thomas Costello, 35, of Virginia Beach, had joined the conspiracy.

    On March 15, 2022, Dean transported Harbor so she could sell 3.41 grams of meth to an individual in Virginia Beach. On April 20, 2022, Dean sold 2.78 grams of meth to another individual in Norfolk.

    On April 6, 2022, Costello sold 26.05 grams of meth, and on April 12, 2022, Costello sold 67.50 grams of meth. On April 22, 2022, law enforcement conducted a traffic stop on Costello in Virginia Beach. Prior to coming to a stop, Costello tossed 58.83 grams of meth from the vehicle’s window.

    On April 20, 2022, and again on April 21, 2022, Brooks sold cocaine from a residence in Virginia Beach. Law enforcement learned that Brooks was expecting a shipment of meth from his Florida-based supplier to arrive in Virginia via train on April 22, 2022. They intercepted the courier and recovered five kilograms of 100% pure meth, commonly known as “ice” or “crystal” meth. On at least two previous occasions, Brooks ordered similar quantities of crystal meth for further distribution by Dean, Harbor, and Costello.

    On April 22, 2022, law enforcement executed search warrants at residences affiliated with all four conspirators. From Brooks’ residence, investigators recovered 219 grams of cocaine, 7.9 ounces of marijuana, $26,388 in drug-trafficking proceeds, a .45 caliber handgun, and ammunition. From Dean and Harbor’s residence investigators recovered 3.07 grams of meth, a ledger showing amounts of money owed to Dean and Harbor, digital scales, and packaging materials, as well as another 4.12 grams of meth found on Dean’s person. From Costello’s residence investigators recovered 405 grams of meth, quantities of fentanyl and cocaine, packaging materials, scales, and 14 firearms.

    As a previously convicted felon, Costello could not legally possess firearms. Jonathan Morrell Scott, 37, of Virginia Beach, straw purchased four firearms for Costello prior to April 22, 2022. On July 26, 2023, Scott pled guilty to making a false statement during the purchase of a firearm. On Dec. 12, 2023, Scott was sentenced to four months in prison.

    Costello’s girlfriend, Amber Dawn Hendricks, 40, of Virginia Beach, purchased four firearms in the two months preceding the search, including two purchased just two days before the search, despite being a user of and addicted to meth. She kept those firearms in the residence she shared with Costello. Despite being prohibited from possessing firearms, she and Costello kept a total of 11 firearms in their bedroom at the residence. On May 7, 2024, Hendricks was charged with possession of a firearm by a prohibited person. On Oct. 2, 2024, Hendricks was sentenced to two years and six months in prison.

    On Jan. 26, 2023, Costello pled guilty to conspiracy to distribute and possess with intent to distribute methamphetamine; manufacture, distribution, and possession with intent to distribute a Schedule II controlled substance; and possessing, using, and carrying firearms in furtherance of and during and in relation to a drug-trafficking crime. Costello was sentenced today to 20 years in prison.

    On Jan. 24, 2023, Dean pled guilty to conspiracy to distribute and possess with intent to distribute methamphetamine and distribution of methamphetamine. On June 15, 2023, Dean was sentenced to 18 years in prison.

    On Jan. 12, 2023, Harbor pled guilty to conspiracy to distribute and possess with intent to distribute methamphetamine and distribution of methamphetamine. On June 1, 2023, Harbor was sentenced to nine years in prison.

    On Jan. 10, 2023, Brooks pled guilty to conspiracy to distribute and possess with intent to distribute methamphetamine; manufacture, distribution, and possession with intent to distribute a Schedule II controlled substance; and possessing, using, and carrying firearms in furtherance of and during and in relation to a drug-trafficking crime. On May 12, 2023, Brooks was sentenced to 20 years in prison.

    Jessica D. Aber, U.S. Attorney for the Eastern District of Virginia; Jarod Forget, Special Agent in Charge for the Drug Enforcement Administration’s Washington Division; James VanVliet, Acting Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives Washington Field Division; Derek W. Gordon, Special Agent in Charge of Homeland Security Investigations Washington, D.C.; Damon E. Wood, Inspector in Charge of the Washington Division of the U.S. Postal Inspection Service; Mark Talbot, Chief of Norfolk Police; Paul Neudigate, Chief of Virginia Beach Police; and Ramin Fatehi, Norfolk Commonwealth’s Attorney, made the announcement after sentencing by U.S. District Judge Arenda Wright Allen.

    Assistant U.S. Attorney Kristin G. Bird and Special Assistant U.S. Attorney Graham M. Stolle, an Assistant Commonwealth’s Attorney with the Norfolk Commonwealth’s Attorney Office, prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case Nos. 2:22-cr-126 (Brooks, Dean, Harbor, and Costello), 2:23-cr-48 (Hendricks), and 2:23-cr-51 (Scott).

    MIL Security OSI –

  • MIL-OSI: Talonvest Capital Negotiates $18M Full Capital Stack for Nashville Development

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, along with its client Wedgewood Avenue are pleased to announce the successful closing of a joint venture equity investment along with construction financing for a best in class, institutional quality self-storage development located at 304 Oldham Street in Nashville, TN. Upon completion, the class A development will include 90,032 NRSF within a 3-story facility benefiting from exceptional visibility from major roadways, which average 250,000 vehicles per day, including Interstate-24, Ellington Parkway, and Spring Street.

    Beau Fowler, Managing Principal at Wedgewood Avenue, commented, “As a first-time client of Talonvest, I was incredibly impressed by their ability to think strategically and advise on the best structure for both the debt and equity components of our development. Talonvest provided valuable insights that helped us optimize our capital stack to maximize returns while mitigating risk.” The Talonvest team members responsible for this transaction included Jim Davies, Kim Bishop, Tom Sherlock, Ivan Viramontes, and Lauren Maehler.

    About Talonvest Capital Inc.:

    Talonvest Capital is a commercial real estate advisory firm specializing in sourcing cutting-edge capital programs and advising on capital market trends for industrial, self-storage, multifamily, office, and retail property owners. Talonvest Capital offers a unique boutique approach by leveraging the company’s collective institutional knowledge and remaining highly engaged throughout the entire assignment, including the closing process, to deliver tailored capital solutions for their clients. With over four decades of experience, Talonvest Capital has a unique perspective from its team’s previous experience on the lending side, managing institutional equity, executing nationwide joint venture investments, and facilitating diverse capital placements for clients across the United States. Learn more at https://talonvest.com.

    A photo accompanying this announcement is available at: 
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f9c4f604-6b2f-44b7-9b88-1a151b45ab66

    The MIL Network –

  • MIL-OSI USA: $16 Million in Federal Funding Fuels Tennessee’s Recovery a Month After Helene

    Source: US Federal Emergency Management Agency

    Headline: $16 Million in Federal Funding Fuels Tennessee’s Recovery a Month After Helene

    $16 Million in Federal Funding Fuels Tennessee’s Recovery a Month After Helene

    A month after the major presidential disaster declaration for the Sept. 26-30 flooding from Tropical Storm Helene, Tennessee families and communities are recovering with $16.4 million in funding from FEMA as well as support from the state, other federal agencies, and voluntary and community organizations.Helene’s rains devastated Eastern Tennessee, leaving mountains of debris strewn across a vast area, knocking out power and communications to thousands, and cutting off drinking water. Residents were left without cell coverage, internet connections and access to essential necessities. It may be years before these remote and rural communities resemble the charm they had before.The disaster declaration was approved on Oct. 2, authorizing funding from FEMA’s Individuals and Households Program to the counties most heavily impacted by the storms: Carter, Cocke, Greene, Hamblen, Hawkins, Johnson, Unicoi and Washington counties. Survivors have until Monday, Dec. 2, to apply for FEMA assistance.State, federal and voluntary organizations have collaborated to drive the recovery. As of Oct. 30, $16.4 million in FEMA funds has been approved for Tennessee’s homeowners, renters and businesses. And FEMA authorized a Direct Temporary Housing mission for survivors who had major or significant structural damage to their primary homes. The American Red Cross, Salvation Army and the Tennessee Department of Education have completed their mission after serving 140,903 meals to survivors.In the early days after the storms, with communications down across a swath of rural communities, FEMA brought in a mobile unit that continues to provide high-speed internet by connecting to satellites.Debris removal remains a major priority. The state and federal partners joined with local communities to clear more than 24,000 cubic yards of debris, a visible and vital step in recovery operations. Special attention is focused on Douglas Reservoir, located only a few miles from the Pigeon Forge-Gatlinburg area and the Great Smoky Mountains National Park. A mile-long curtain was installed to save the dam from damage by 1 million cubic yards of debris that rushed into the lake during the storms. Vegetation, construction and demolition equipment, and hazardous materials continue to line the shores even as the reservoir returns to pre-disaster water levels. Perhaps FEMA’s biggest challenge during the response operation has been the campaign to counter misinformation and harmful rhetoric about FEMA’s assistance programs, which was having a negative impact on Tennesseans desperately in need of help. The agency built a Helene Rumor Response webpage where survivors could find the facts themselves, and it continues to push messaging, in English and Spanish, about the many types of available assistance tailored to each survivor’s unique situation. FEMA accomplishes this by directing traffic to the state’s tn.gov/TEMA and fema.gov/Helene/Tennessee disaster pages as well as FEMA’s social media sites on Facebook, X, Instagram and YouTube.But the work of recovery has only just begun. Here are a few highlights:$16.4 million in funding from the Individuals and Households Program to provide financial help to those who are unable to meet their disaster-related needs through insurance or other means. As part of that total, more than $8 million represents Housing Assistance to help homeowners repair or replace residential property damage that is not covered by insurance.$8.3 million in Other Needs Assistance covers necessary disaster-related expenses such as medical bills; money to clean, repair or replace household items; to repair or replace vehicles damaged by the disaster and other non-housing needs.The Direct Temporary Housing Assistance program will help homeowners and renters whose homes were destroyed or heavily damaged.More than $1.07 million for 186 claims was paid to National Flood Insurance policyholders. The program also extended the grace period for paying policy premiums to Tuesday, Nov. 26.FEMA’s Disaster Survivor Assistance specialists visited 6,277 homes, 288 businesses and 237 community facilities. They also referred 1,140 survivors to community resources.More than $53,000 was paid in Disaster Unemployment Assistance to Tennesseans who have been unable to work because of the disaster. FEMA funds the unemployment program, which is managed by the state.Some 1,311 survivors have visited FEMA’s Disaster Recovery Centers to apply for federal assistance, to get help uploading documents to their account or get answers to questions including decisions about eligibility for FEMA assistance. A Mobile Disaster Recovery Center is scheduled to open Nov. 1 in Johnson County.Specialists at the state’s three Multi-Agency Resource Centers in Carter, Cocke and Washington counties also help survivors apply for FEMA assistance and connect them with additional local, state, federal and voluntary agency resources.Disaster assistance is also available to help communities respond to and recover from Helene’s deadly wrath. FEMA Public Assistance was approved for state and local governments and some private non-profits. These funds help communities cover the costs for debris removal, life-saving emergency protective measures and restoring public infrastructure.Public Assistance is a cost-sharing program and FEMA’s largest grant program. FEMA typically covers 75% of funding and the state covers 25%. For Helene damage in Tennessee, President Biden authorized 100% federal funding for emergency work generated by the disaster. This means FEMA will cover all eligible costs incurred during any 45-day period of the state’s choosing during the first 120 days from the start of the disaster, or Sept. 26. This allows communities to maximize cost savings by selecting the 45 days when the greatest costs occurred.Under Public Assistance, the federal share of funding is reimbursed through the Tennessee Emergency Management Agency to disburse to local agencies, local governments and certain private non-profits including houses of worship.
    kwei.nwaogu
    Wed, 10/30/2024 – 20:38

    MIL OSI USA News –

  • MIL-OSI Security: West Lafayette Man Sentenced to 27 Months in Prison

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    HAMMOND- Markith Williams, age 39, of West Lafayette, Indiana, was sentenced by United States District Court Judge Philip P. Simon after a jury found him guilty of being a convicted felon in possession of a firearm following a two-day jury trial, announced United States Attorney Clifford D. Johnson.

    Williams was sentenced to 27 months in prison followed by 2 years of supervised release.

     According to documents in the case, on January 13, 2022, a traffic stop of Williams’ vehicle in Jasper County, Indiana, led to the recovery of a loaded semi-automatic pistol. Williams’ criminal history revealed that he had 3 prior Illinois felony convictions which included being a felon in possession of a firearm, aggravated unlawful use of a weapon, and delivery of cocaine, any one of which prohibited him from possessing the firearm in this case. 

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives, the Hammond Police Department, and the Jasper County Sheriff’s Department.  The case was prosecuted by Special Assistant United States Attorney Patrick D. Grindlay and Assistant United States Attorney Kristian R. Mukoski.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

  • MIL-OSI Australia: Interview with Warwick Lang, Victorian Country Hour, ABC Radio

    Source: Australian Treasurer

    WARWICK LONG:

    Let’s talk competition in farming in Australia. A member of the federal government has identified farming as an area in dire need of competition reform in Australia. Andrew Leigh is the Assistant Minister for Competition in the Labor government. He says this country’s small‑scale farmers are getting hammered at both ends by concentrated markets and at numerous points along the agricultural supply chain. I had a chat to him about improving the improving the competition playing field for farmers after he made a speech on such a topic to ABARES in Canberra.

    ANDREW LEIGH:

    Well, farmers are the meat in the sandwich when it comes to problems of competition in the Australian economy. We see too many farmers buying seed and fertiliser from concentrated markets and then getting squeezed by having to sell into concentrated markets for processors or in freight. And the effect is that farmers aren’t getting a fair deal. I’m talking about a lot of what we’re doing in the competition space through the lens of farming. Farming is a critical industry to the Australian economy, but it also illustrates some of the big competition problems that the Australian economy faces right now.

    LONG:

    Why is farming such an easy example to grasp about the lack of competition and what it does to markets?

    LEIGH:

    Compared to many industries, small‑scale farming is pretty easy to enter. It is not as easy to set up a tractor manufacturing business or to set up a freight distribution network. The result is that you get a lot of competition in farming across many commodities but not so much upstream and downstream. So if you’re looking at fertiliser, the big 4 fertiliser manufacturers in Australia have 62 per cent of the market between them. And then if you’re looking downstream, fruit and vegie processing, the big 4 have 34 per cent of the market. Meat processing, the big 4 have 44 per cent of the market. So there’s these really concentrated markets, and that’s before we’ve even gotten to the supermarkets where the supermarket duopoly does have the effect of squeezing farmers. Which, of course, is why, Warwick, we’re moving to make the Food and Grocery Code of Conduct a mandatory code.

    LONG:

    What has failed in the past? So the meat industry is one of those that you’re using, particularly you cite its effect on small‑scale beef producers, for example, because there’s such market concentration. Now, I’ve been around for quite a long time, Assistant Minister, and I remember when the ACCC didn’t oppose JBS’s taking over of Primo, for example, because even though it meant a highly concentrated market in areas like New South Wales and Queensland. So what’s gone wrong in the past to lead us down this road of concentration now?

    LEIGH:

    Our merger law system just hasn’t been up to what it needs for a modern economy. Australia’s competition watchdog doesn’t get to see about 3 out of every 4 mergers because there’s no requirement on big firms to notify them. You can’t block what you can’t see. So the merger reforms we’ve got in parliament right now are the biggest merger shake‑up in half a century. We’d hope they’d get support right across the parliament. And they’ll have 2 results, Warwick, one will be that low‑risk mergers get approved quicker, and the other is that high‑risk mergers can have the scrutiny that they deserve applied to them by the competition watchdog.

    LONG:

    What other rules and changes are you proposing?

    LEIGH:

    We’ve got the banning of unfair contract terms. We did that as soon as we came into office. And that’s mattered for areas such as fertiliser contracts and potato processing where those unfair contract terms have been used. For consumers we’ve got the CHOICE quarterly price monitoring to make sure that consumers are seeing where they can get their best deal across the grocery sector. And we’re giving the competition watchdog more resources in order to check up on unit pricing, make sure that the prices on the supermarket shelf really are a fair reflection of what Australians will pay.

    LONG:

    You’ve also cited in your speech today about the right to repair laws affecting the motor vehicle industry. You and I spoke a lot in the past about trying to extend that to tractor and machinery sales. Why hasn’t that happened yet?

    LEIGH:

    Well, we’re encouraging parties to first look at a voluntary agreement here which can often have a more tailored approach. But we recognise that there’s a squeeze on and it can particularly affect farmers where you’re working off short timeframes. You’ve got to get a crop harvested. Your machine breaks down and you just can’t afford to take a week for the authorised dealer to fix it. So we understand the squeeze. We understand that the farm machinery industry is heavily concentrated. This one is not as straightforward as what we did for the motor vehicle scheme –

    LONG:

    Why not?

    LEIGH:

    Well, because in motor vehicles you’ve got a greater diversity of independent repairers. There’s some 20,000 independent repairers across the country. You just don’t have that network of independent repairers in the area of farm machinery. Most of the repair is being done at the moment by the big firms. And what we’re looking at is a discussion where people say we could have a vibrant independent repair industry if only there was a right to repair laws for farm machinery.

    LONG:

    Yeah, so as opposed to what you had to do in the motor vehicle sector where there was already an existing network there effectively you need to look if your law changes for the farm machinery sector would effectively almost create a new category of business?

    LEIGH:

    Yes, that’s right. Whereas independent mechanics, we were seeing them being crushed by a lack of access to data. But data is a big thing. John Deere has got more software development engineers than mechanical design engineers. Farm machines are becoming increasingly computerised, and that means that access to the data is fundamental to allowing a third‑party repairer to fix a fault.

    LONG:

    This is your passion, isn’t it? Competition and how markets work.

    LEIGH:

    I’m glad you detected that passion, Warwick. Absolutely. For economists this goes back to Adam Smith in 1776. There’s really good work about the benefits of competition for consumers, for workers and just for innovation. More competitive markets see higher productivity growth. And so this is one of the key things we need to do if we’re going to kickstart more growth in the Australian economy.

    LONG:

    And obviously more competition, more buyers for products is important. Your government is restricting that in the world of agriculture, particularly for the WA sheep industry right now with the phase out of live sheep exports. Have you looked at what that will do to the market there?

    LEIGH:

    Look, we’re providing support to the industry – over $100 million there – and also encouraging the boxed meat industry. And as you well know, Warwick, the volume of live sheep exports has been steadily declining. We’re very keen to see that local processing industry increasing, the value‑adding, and also working hard to open up new markets. So if you look at the resumption of the rock lobster trade with China, with the trade deal with the United Arab Emirates, all of that opening up of the international markets gives more options to our farmers. It means that they’re not as constrained at just selling to a couple of local processors.

    LONG:

    A sheep farmer can hardly jump into the world of rock lobster farming, though, can they?

    LEIGH:

    No, that’s right. I’m just giving you an illustration of what we’re doing across the markets, recognising the importance of international trade to Australian farmers.

    LONG:

    I suppose you and I are talking about the same thing here, right, aren’t we, Andrew Leigh? We’re talking about how government decisions or actions, whether it be the closure of key international markets or whether it be phase‑outs of industry, that does affect markets and it’s on government to pull the levers to decide the future of these industries, isn’t it?

    LEIGH:

    The government plays a significant role. And what you’re talking about with live sheep really is an issue of animal welfare, which I think is broadly supported across the Australian community. But what we’ve been doing in opening up international markets really is very much in the traditions of the Whitlam, Hawke and Keating governments – that international engagement often led by farmers because we export the vast majority of our agricultural produce in Australia to the benefit of farmers and the broader economy.

    LONG:

    So, this is part of your discussion with ABARES. Do you have a plan to sort of update on whether your levers and work in competition areas will be working in, say, 12 months’ time?

    LEIGH:

    Yeah, it’s a great question, and one of the things we haven’t done very well in government is evaluating what we do. And so we’re now just thinking through the best ways of evaluating the impact of the competition reforms, making sure that as we move to a mandatory code of conduct for food and grocery that we are seeing those better deals coming through for farmers, ensuring that as we go into the new merger regime that we see better competition across Australian industries. So, tracking performance is absolutely the best practice in government. That’s what I want to do more of.

    LONG:

    That’s the Assistant Minister for Competition, Andrew Leigh, speaking there about improving competition rules, the playing field essentially for farmers.

    MIL OSI News –

  • MIL-OSI USA: Suzy DiMont Works at the Intersection of Research and Action

    Source: US National Renewable Energy Laboratory

    Distinguished Member of Operations Staff Is Busy Making the World a Better Place

    Suzy DiMont is a force to be reckoned with.

    Suzy DiMont. Photo by Werner Slocum, NREL 

    Since she was hired at the National Renewable Energy Laboratory (NREL) in 2014, the Energy and Sustainability manager has evolved from an intern to a program manager and integral member of the Women’s Network Employee Resource Group (ERG). On the Intelligent Campus team, she is involved with all things sustainability, including the annual commuter survey, Site Sustainability Plan, and climate resilience planning and was also a key contributor to the NREL Smart Labs initiative, which NREL uses to meet sustainability goals.

    DiMont is actively engaged in her community and is always looking for ways to give back. Annually, she participates in the Bike MS NREL team ride to raise funds for multiple sclerosis (MS) research. As a member of the Women’s Network, she regularly mentors NREL peers and helps enable pathways for the professional advancement of women.

    Earlier this year, DiMont was named a Distinguished Member of Operations Staff for her “dedication to advancing NREL’s mission and making meaningful strides toward a sustainable and clean energy future.” As a member of the Intelligent Campus Program, she is the primary point of contact with the U.S. Department of Energy’s Golden Field Office and manages NREL’s electric vehicle supply equipment rollout and cost recovery program and NREL’s energy and water utility billing.

    When asked if she ever gets time to rest amid numerous projects, leadership roles, and community engagement activities, DiMont responded, “I do rest, I do rest. Well, I have a toddler now, so I don’t rest.”

    Then, always finding a way to make others shine, DiMont said, “It’s not just me doing it. I couldn’t do it by myself. I work with a lot of really great people all over the lab.”

    During her decade at the laboratory, DiMont has collaborated with diverse groups across NREL and is constantly getting involved with new projects related to sustainability. Although this line of work may seem custom fit, her path from student to educator to engineer to Sustainability manager was far from linear.

    Suzy DiMont, husband Neil, and Kosol Kiatreungwattana on their first Bike MS Ride. Photo by Suzy DiMont, NREL 

    A Lifelong Love for Learning

    As a child, DiMont did not long to settle into a perfect career. Instead, her innate curiosity sparked a desire to learn and participate in as many activities as possible.  

    “I don’t know if I ever really had a dream that I wanted to work,” DiMont said. “I always had a dream that I wanted to learn. I really liked school, I liked all topics, I liked everything. Math, reading, art, history, science—I wanted to do all of it.”

    DiMont’s desire to be a well-rounded learner drew her to a liberal arts education at Hamilton College in New York.

    At Hamilton, she explored a variety of majors—psychology, art, French, and archeology—before landing on anthropology and mathematics.

    Her first job after college was teaching math at the Solebury Boarding School in Pennsylvania. The role was intimidating because, although DiMont was a lifelong learner, she had no practice developing formal lesson plans for grade schoolers. She learned how to write tests that were appropriately challenging for students and experienced the joys of being a dorm mom for the girls on campus. DiMont also realized teaching was not her calling.

    After leaving Solebury, DiMont joined AmeriCorps, an independent U.S. government agency focused on service and volunteerism, and began working for the “I Have a Dream” Foundation. DiMont worked with students at under-resourced schools on dropout prevention and helped the students, known as “dreamers,” realize their aspirations and connected them with support.

    One of DiMont’s former dreamers, Anakary Valenzuela, is now a business support administrative associate for NREL’s Mechanical and Thermal Engineering Sciences (MTES) directorate. She remembers meeting DiMont as a sophomore at Centaurus High School in Lafayette, Colorado.

    Valenzuela had been a dreamer since second grade and was all too familiar with the influx of AmeriCorps members who served for a year then moved onto the next opportunity. DiMont was different. She stayed with the program for three years—long enough to see the cohort of students graduate high school—and she took a genuine interest in the lives of students she mentored.

    When Anakary Valenzuela was a student, the “I Have a Dream” Foundation hosted an event to celebrate high school graduation. Photo from Casie Zalud Photography

    “She was the best AmeriCorp we ever had,” Valenzuela said. “I would go to her for advice. She would mentor me. [She was] my counselor, my friend. She would always stay extra hours to talk to us if it had to do with homework or college prep or advising us on what type of college we should go to or major [we should declare]. And then she would drive us home.”

    Their friendship extended well beyond Valenzuela’s high school graduation as DiMont informally mentored Valenzuela throughout college and encouraged her to apply at NREL. After Valenzuela was hired, DiMont encouraged her to get involved with the Women’s Network and Hispanic and Latinx Alliance and invited her to ERG meetings and dinners to make friends and build her network.

    “She inspires me to do more. I feel like I am part of her family,” Valenzuela said. “I can always count on her, she’s always been there. I don’t know how she does everything, but I’m so grateful that we crossed paths in this lifetime.”

    From Educator to Engineer

    During her three years with AmeriCorps, DiMont realized she could pursue her dual loves for mathematics and community engagement with a career in engineering. Working with low-income students exposed disparities in the lack of access to civil infrastructure. She saw engineering as a way to make infrastructure and transportation equitable for all.

    DiMont enrolled in the Engineering and Developing Communities graduate program at the University of Colorado (CU) Boulder. DiMont got involved in the Renewable and Sustainable Energy Institute, known as the RASEI program, now a joint program between NREL and CU Boulder.

    The university was DiMont’s introduction to NREL, via one of the laboratory’s vocal supporters: former NREL research technician Marc Landry.

    “What an incredible human,” DiMont said. “He would not stop talking about NREL and what a wonderful place it was … an unbelievable mind.”

    During one of the first events DiMont attended as an intern in 2014, Xcel Energy awarded NREL the Self-Direct Achievement Award. Photo from Suzy DiMont, NREL 

    During graduate school, DiMont pondered a career in international development work. She and her then boyfriend, now husband, traveled to Bolivia with a South Dakota Engineers Without Borders program to participate in a water development project. Although the work was important, she felt it was better to stay in Boulder.

    “To do international development work well, you have to be part of that community, and you have to invest in that community and spend time there and be there,” DiMont said. “You can’t just swoop in with technology. It’s not kind; it’s not effective.”

    After hearing Landry sing NREL’s praises for so many years, DiMont decided to apply for a sustainability internship at NREL.

    ‘Sustainability Is a Marathon, not a Sprint’

    As DiMont evolved from an intern into her current role, much of her work folded into the Intelligent Campus program, which leverages NREL campuses to advance research and achieve operational excellence by deploying cutting-edge control and analytics technology. Or in DiMont’s words, her job “sits at the intersection of research and making things happen.”

    She focuses on creating programs and strategies to implement changes regarding energy efficiency, the kind of energy NREL uses, and getting to net zero. However, DiMont acknowledged that “sustainability is a marathon, not a sprint.” For NREL to achieve its sustainability goals, the right folks—including researchers, subject matter experts, communicators, and technicians—need to come together and stay excited about work ahead.

    “A lot of what we do won’t have an impact for a while. That’s why it’s important to keep a generational lens,” DiMont said. “It’s not always easy, but having a great team makes it possible. They can commiserate with you, they support you, they back you up.”

    The NREL Waste Reduction and Pollution Prevention Team was recognized for a DOE Sustainability Award in 2016. Right to left: Ali Mohagheghi, Kenneth Proc, Kevin Donovan, Ellen Fortier, Laura Justice, Nancy Stovall, Laurie Snyder, Suzy DiMont and Susan Chadwick. Photo by Dennis Schroeder, NREL

    Making the World a Better Place for All

    When it comes to making the world a better place, for DiMont, that starts with making NREL a better place. As an early member of the Women’s Network, Suzy advocates for diversity in STEM (science, technology, engineering, and mathematics). The Women’s Network is one of NREL’s 11 ERGs and provides a platform for promoting women in leadership and the workforce.

    “I think the Women’s Network is so important, because there is still, especially in research in STEM, so much discrimination against women, people of color, women with intersectional identities, folks that are marginalized in some way,” DiMont said.

    For many, the biggest hurdle is staying in a career field if you see few people who look like you or share your experiences.

    “It’s a huge loss, because these are the fields where we need a diversity of thought, people that don’t see the world the same way, that think about problems differently, people that lead differently,” DiMont said. “You need that diversity in a field where you’re looking for innovation and new things. To reach everyone on the planet, you must have that diversity to be successful.”

    During her tenure at NREL, DiMont has witnessed major changes in the ways NREL promotes diversity, equity, and inclusion and credits much of this change to NREL’s women in leadership, such as Bobi Garrett, NREL’s former chief operating officer, and Julie Baker, deputy laboratory director for Laboratory Operations.

    Suzy DiMont and her child Sebastian. Photo from Suzy DiMont, NREL

    “It’s incredible to be around these powerful women,” DiMont said. “It’s very inspiring.”

    As a mother, DiMont wants to make the world a better place for her child. Living in a world impacted by climate change causes many to feel anxious and depressed about the future. For DiMont, knowing that humans caused climate change means humans are also part of the solution. She hopes to impart this optimism onto the next generation.

    “I want my child to live in a world where he sees engineers and expects them to be women,” DiMont said. “I want him to feel like he has agency and can be part of these solutions.”

    It is a lot of work and the job is not easy, but for DiMont, making the world better for the next generation is what it is all about.

    “When do I rest?” DiMont asked. “I’ve got this time to do what I can do with it. I put in my energy when I can, then I unplug. I unplug and put my energy in other places. It’s just about being present for the things you are doing in that moment.”  

    Learn more about NREL’s commitments to sustainability and resilience.

    MIL OSI USA News –

  • MIL-OSI USA: October 29th, 2024 N.M. Delegation Welcomes Over $4 Million From the Infrastructure Law to Enhance Safety, Reduce Delays at Railway Crossings, and Grow Local Economies in Clovis and San Juan County

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    ALBUQUERQUE, N.M. – U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), and U.S. Representatives Teresa Leger Fernández (D-N.M.), Melanie Stansbury (D-N.M.), and Gabe Vasquez (D-N.M.) welcomed a combined $4,570,920 for two projects in New Mexico from the U.S. Department of Transportation to strengthen the nation’s supply chain, reduce costs, and grow New Mexico’s economy. 

    $4,000,000 will help San Juan County and the Navajo Nation complete the planning for a proposed freight rail line connecting Farmington and Gallup. 

    $570,920 will help the City of Clovis enhance safety and reduce traffic delays at two railway crossings.

    “Thanks to our Infrastructure Law, we’re delivering the funds needed to kick-start planning for a freight rail line from Farmington to Gallup and improve railway crossings in Clovis. Combined, these investments will strengthen our nation’s supply chain, grow local economies, lower transportation costs, create high-quality jobs New Mexicans can build their families around, and improve safety for our communities,” said Heinrich. “I’m pleased to welcome these federal investments, and I remain committed to securing more investments to connect rural communities to the abundant opportunities ahead.”

    “Across our state, New Mexicans rely daily on our railways for travel and to keep our economy running,” said Luján. “Thanks to the Bipartisan Infrastructure Law, this $4.5+ million in federal funding will deliver much-needed railway safety enhancements in Clovis and help construct a new rail line within the Navajo Nation to expand regional rail service in Northwestern New Mexico. I’m proud to welcome these two grants that will both boost railway service and drive economic development for Clovis, the Navajo Nation, and their surrounding communities. I will continue to fight to bring federal dollars home to New Mexico to improve the safety, efficiency, and reliability of passenger and freight rail.”

    “Every time I go to the Four Corners, local leaders emphasize the importance of connecting the region with rail. The Four Corners area is a major economic center of our state, and the funding we’re announcing today is the beginning of our work to make sure our rail infrastructure is ready to meet that potential across San Juan and McKinley Counties,” said Leger Fernández. “I am happy that this funding also includes improvements to safety and efficiency of freight in Clovis. With the support of the CRISI program, we can begin the critical work needed to build stronger connections and drive growth in rural New Mexico.”

    “I am thrilled about the recent allocation of two significant federal grants from the Federal Railroad Administration’s CRISI program, which will greatly enhance rail safety and connectivity in New Mexico,” said Stansbury. “These two grants reflect our commitment to investing in infrastructure prioritizing safety and economic growth. I am grateful for the support from the Federal Railroad Administration and look forward to seeing these projects come to fruition as we work together to build a safer New Mexico!”

    “Federal investments like this bring vital safety and economic benefits to communities across New Mexico. With this funding, we’re improving railway safety, cutting down delays, and connecting New Mexicans to opportunities that drive economic growth and quality jobs,” said Vasquez. “Thanks to the Bipartisan Infrastructure Law, we are building a stronger, safer transportation network. I’m proud to welcome this funding to bring more jobs and opportunities to our rural communities.”

    “The award of grant funding takes a prospective freight rail line study further than any study in the past and is further proof of the importance of collaboration between tribal, local, state, and federal partners to open doors to economic opportunities. We are appreciative of assistance from New Mexico’s federal delegation and excited for future economic growth opportunities in San Juan County and the Four Corners region,” said John T. Beckstead, San Juan County Commission Chairman.

    “The Federal CRISI Grant brings San Juan County and the City of Farmington one step closer to having competitive transportation and economic development. This is an important step in growing our regional economy,” said Tim Gibbs, Four Corner Economic Development CEO.

    The grants are awarded through the U.S. Department of Transportation Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program, which provides funding for projects that improve the safety, efficiency, and reliability of intercity passenger and freight rail. The CRISI Program received significant, additional investments from the Infrastructure Law – legislation passed by Democrats in the N.M. Congressional Delegation. 

    The N.M. Delegation sent a letter of support to the U.S. Department of Transportation supporting the grant for San Juan County that is being announced today. This grant will prepare the Four Corners Rail Project for final design proposals and planning.

    In May 2020, Heinrich and Luján wrote a letter of support for San Juan County’s application for a Better Utilizing Investments to Leverage Development (BUILD) Grant, which applicants of the CRISI Program are required to be approved for.  

    Members of the N.M. Delegation sent a letter of support to the U.S. Department of Transportation urging the support of the grant for the City of Clovis that is being announced today. This grant will enhance safety and reduce traffic delays at two railway crossings including modifications to the Norris Street railroad crossing and construction of a new grade-separated crossing at MLK Jr. Boulevard.

    Below is a breakdown of the U.S. Department of Transportation Federal Railroad Administration funding:  

    Project Name

    Recipient

    Award Amount

    Project Description

    Clovis, N.M. Corridor Improvement Project

    City of Clovis

    $ 570,920

    The proposed project was selected for Project Development and includes activities for one grade crossing separation and improvements to a second at-grade crossing along the BNSF Railway line in Clovis, New Mexico. The project aligns with the selection criteria by enhancing safety and improving system and service performance as the project will reduce blocked crossings. The City of Clovis and BNSF Railway will contribute the 53 percent non-Federal match. This project qualifies for the statutory set-aside for projects in Rural Areas.

    Four Corners Freight Rail Project

    San Juan County

    $ 4,000,000

    The proposed project was selected for Project Development and includes activities to develop a new rail line to connect the Farmington, New Mexico Area to the BNSF Railway corridor near Gallup across San Juan County and McKinley County, New Mexico. The proposed project is a partnership between San Juan County, the Navajo Nation, and the New Mexico Department of Transportation, and most of the project is located within the Navajo Nation. The project aligns with the selection criteria by enhancing resilience and improving system and service performance as the project will provide a viable freight transportation modal alternative to highway trucking, opportunities to simplify the supply chain, and enable new, rail-dependent economic development opportunities thereby imparting benefits to the Navajo Nation and surrounding communities. San Juan County will contribute the 20 percent non-Federal match. This project qualifies for the statutory set-aside for projects in Rural Areas.

    For more information from San Juan County on the proposed Four Corners Rail Project, please click here. 

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Auction of traditional vehicle registration marks to be held on November 16

    Source: Hong Kong Government special administrative region

    Auction of traditional vehicle registration marks to be held on November 16
    Auction of traditional vehicle registration marks to be held on November 16
    ***************************************************************************

         The Transport Department (TD) today (October 30) announced that the auction of traditional vehicle registration marks will be held on November 16 (Saturday) in Meeting Room S421, L4, Old Wing, Hong Kong Convention and Exhibition Centre, Wan Chai.     “A total of 350 vehicle registration marks will be put up for public auction. The list of marks has been uploaded to the department’s website, www.td.gov.hk/en/public_services/vehicle_registration_mark/index.html,” a department spokesman said.     Applicants who have paid a deposit of $1,000 to reserve a mark for auction should also participate in the bidding (including the first bid at the reserve price of $1,000). Otherwise, the mark concerned may be sold to another bidder at the reserve price.     People who wish to participate in the bidding at the auction should take note of the following important points:(1) Successful bidders are required to produce the following documents for completion of registration and payment procedures immediately after the successful bidding:(i) the identity document of the successful bidder;(ii) the identity document of the purchaser if it is different from the successful bidder;(iii) a copy of the Certificate of Incorporation if the purchaser is a body corporate; and(iv) a crossed cheque made payable to “The Government of the Hong Kong Special Administrative Region” or “The Government of the HKSAR”. (For an auctioned mark paid for by cheque, the first three working days after the date of auction will be required for cheque clearance confirmation before processing of the application for mark assignment can be completed.) Successful bidders can also pay through the Easy Pay System (EPS). Payment by post-dated cheques, cash or other methods will not be accepted.(2) Purchasers must make payment of the purchase price through EPS or by crossed cheque and complete the Memorandum of Sale of Registration Mark immediately after the bidding. Subsequent alteration of the particulars in the memorandum will not be permitted.(3) A vehicle registration mark can only be assigned to a motor vehicle which is registered in the name of the purchaser. The Certificate of Incorporation must be produced immediately by the purchaser if a vehicle registration mark purchased is to be registered under the name of a body corporate.(4) Special registration marks are non-transferable. Where the ownership of a motor vehicle with a special registration mark is transferred, the allocation of the special registration mark shall be cancelled.(5) The purchaser shall, within 12 months after the date of auction, apply to the Commissioner for Transport for the registration mark to be assigned to a motor vehicle registered in the name of the purchaser. If the purchaser fails to assign the registration mark within 12 months, allocation of the mark will be cancelled and arranged for re-allocation in accordance with the statutory provision without prior notice to the purchaser.     For other auction details, please refer to the Guidance Notes – Auction of Traditional Vehicle Registration Marks, which can be downloaded from the department’s website, www.td.gov.hk/en/public_services/vehicle_registration_mark/tvrm_auction/index.html.

     
    Ends/Wednesday, October 30, 2024Issued at HKT 14:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ5: Enhancing Express Rail Link services

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Yiu Pak-leung and a reply by the Secretary for Transport and Logistics, Mr Lam Sai-hung, in the Legislative Council today (October 30):

    Question:

         Some members of the tourism industry are of the view that further increasing the number of destinations in the Mainland served by the Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL) connecting to the Hong Kong West Kowloon Station (WKS), as well as building up the XRL’s long-haul sleeper service network in an orderly manner, are conducive to promoting the development of the tourism industry and facilitating Hong Kong’s integration into the country’s overall development. In this connection, will the Government inform this Council:

    (1) of the respective monthly patronage of the XRL service plying between WKS and Guangzhoudong Station and Guangzhounan Station, as well as those plying between WKS and each of the intermediate stations along the routes between WKS and these two stations, since the resumption of XRL service last year; as it has been reported that at present, it takes at least about 90 minutes to travel from WKS to Guangzhoudong Station, which fails to demonstrate the advantages of XRL, whether the authorities have studied with the Mainland authorities the feasibility of raising the speed of the relevant route; if so, of the details; if not, the reasons for that;

    (2) as it is learnt that Xintang Station, commissioned last year with its location at the core of the new development area in the eastern part of Guangzhou, is not only a necessary stop but also an important hub for travelling to the eastern part of Guangzhou, yet the relevant XRL routes only pass the station currently without stopping on it, whether the authorities will expedite negotiation with the Mainland authorities to make Xintang Station an intermediate station of XRL, so as to achieve better linkage between the XRL Hong Kong Section and the Mainland’s railway network; and

    (3) as some members of the industry have relayed that XRL sleeper trains plying between Hong Kong and Beijing/Shanghai are well-received by travellers, whether the authorities have studied the provision of long-haul sleeper train service to more destinations, such as Xi’an and Chengdu in western China, so as to open up the long-‍haul rail passenger market in the western part of the country, thereby facilitating “two-way travel” by travellers?

    Reply:

    President,

         The Hong Kong Section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL) was commissioned on September 23, 2018, connecting with the over 46 000 kilometres long national high-speed rail network. It is a key component of the highly accessible transport network and economic circle of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and consolidates Hong Kong’s position as a regional transport hub. The MTR Corporation Limited (MTRCL) is responsible for operating the XRL Hong Kong Section, and has been in active liaison and collaboration with the Hong Kong Special Administrative Region (HKSAR) Government and the Mainland railway authorities to continuously enhance the various operational arrangements of the XRL Hong Kong Section, with a view to fully realising its socio-economic benefits and the advantages of interconnectivity in the national high-speed rail network for the promotion of better integration of Hong Kong into the national development. Serving 80 directly connected destinations at present, the Hong Kong Section of the XRL is a crucial link between Hong Kong and the Mainland, and a testament to the increasingly frequent exchanges between the two places for business, leisure and other purposes.

         In consultation with the MTRCL, my reply to the question raised by the Hon Yiu Pak-leung is as follows:

    (1) and (2) With the resumption of normal travel between Hong Kong and the Mainland after the pandemic, the XRL Hong Kong Section has progressively resumed train services since January 15, 2023. New short-haul and long-haul destinations have been introduced progressively, including the short-haul destinations of Dongguannan, Dongguan, Guangzhoudong and Changping, making it a more comprehensive network. In view of the increasingly frequent flow of people between the two places, upon discussion between the MTRCL and the Mainland railway authorities, the frequency of short-haul train trips of the XRL Hong Kong Section have been increased continuously. The number of trains running to and from Guangzhounan Station has increased from 16 trips per day in early 2023 to the present 38 trips per day. Passengers may also take long-haul trains that call at Guangzhounan Station, which are operating at 20 train trips per day; whilst the number of trains running to and from Guangzhoudong Station has increased from 12 trips per day in early 2023 to the present 26 trips per day. 

         The services of the XRL Hong Kong Section have been popular among passengers. In the first nine months of 2024, the XRL Hong Kong Section recorded an average daily patronage of about 70 000 passenger trips, with the total number of passenger trips approaching the annual total of approximately 20 million passenger trips in 2023. According to the ticket sales provided by the MTRCL, for short-haul destinations, more than 60 per cent of short-haul passengers are destined for stations in Shenzhen (i.e. Futian and Shenzhenbei), and nearly 30 per cent are destined for Guangzhoudong and Guangzhounan. Less than 10 per cent travel to the remaining short-haul destinations (i.e. Guangmingcheng, Humen, Qingsheng, Dongguannan, Changping and Dongguan).

         To meet the travel needs of passengers, the MTRCL and the Mainland railway authorities review the operation schedule of train trips from time to time and enhance services in a timely manner. For instance, train trips running between Hong Kong West Kowloon Station (WKS) and Futian Station or Shenzhenbei Station have been enhanced during weekends since early April this year. The MTRCL will also operate additional short-haul train trips for popular destinations during festive holidays in response to passengers’ travel needs. As for the travelling time of trains between WKS and Guangzhoudong Station, a balance has been struck between the journey time of trains and the number of intermediate stops needed for passenger convenience. The MTRCL will continue to liaise with the Mainland railway authorities with a view to providing better cross-boundary rail service.

         As for new stations, the number of directly connected destinations on the XRL Hong Kong Section has increased from 44 at the beginning of its operation to 80 currently. In addition to the aforementioned short-haul destinations, the XRL Hong Kong Section has been connected to the Chengdudong Line in southwest part of the country, including Chengdudong and Leshan, as well as the Zhanjiangxi Line, including Jiangmen, Kaipingnan, Yangjiang, Maoming and Zhanjiangxi. A long-haul route to Hunan Province was introduced in mid-2024, which directly connects to popular tourist destinations such as Zhangjiajie and Fenghuanggucheng. As for the proposal of introducing Xintang Station as a directly connected destination to the XRL Hong Kong Section, the MTRCL and the Mainland railway authorities are actively looking into the matter with a view to offering passengers a more convenient and comfortable travelling experience, while facilitating the flow of people between the two places.

    (3) Thanks to the Central Government’s care for Hong Kong and the strong support from various Mainland authorities, sleeper train service between WKS and Beijingxi Station/Shanghai Hongqiao Station was introduced on the XRL Hong Kong Section on June 15, 2024, with trains departing in the evenings and arriving the following mornings. This arrangement was an upgrade of the original ordinary-speed train service between the Hong Kong Hung Hom Station and Beijing/Shanghai, and reduced the journey time by almost a half. The trains also call at Shijiazhuang in Hebei and Hangzhou in Zhejiang as intermediate stations. In October 2024, the sleeper train service to Beijing and Shanghai was further upgraded. Fuxing high-speed sleeper trains have been deployed to serve passengers, along with adjustments to routes and departure times. The journey time between WKS and Beijing/Shanghai takes about 11.5 hours and 11 hours respectively. The service upgrade provides passengers with more caring, comfortable and comprehensive service, further leveraging the benefits of “evening departures and morning arrivals”.

         The HKSAR Government and the MTRCL have been actively observing the development of the high-speed rail network in the Mainland, and striving to further introduce destinations directly connected to the XRL Hong Kong Section, so as to provide passengers with more diversified options and services. Regarding the western region of the Mainland, direct train services are currently available at WKS, serving stations such as Chengdudong, Chongqing and Kunming. As for the introduction of direct sleeper trains to those destinations, various considerations and arrangement of different railway authorities are involved. The HKSAR Government and the MTRCL will maintain liaison and co-ordination with the Mainland railway authorities and relevant departments to explore feasible options for further enhancing the service of the XRL Hong Kong Section.

         Thank you, President.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Renovation program: phased resettlement of almost 900 residents of old houses begins in Kryukov

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    In the Kryukovo district, a phased resettlement of 860 residents of four old houses to a new building on Zavodskaya Street is beginning. This was announced by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “The new building is located at the address: Zavodskaya Street, Building 14, Buildings 1 and 2. It was erected on the site of four old buildings that were resettled and dismantled. 860 residents of the Kryukovo district are starting to move to the new residential complex. In total, 34 houses are to be resettled under the renovation program in Zelenograd, and more than seven thousand residents of the district will receive modern apartments,” said Vladimir Efimov.

    The first stage of the renovation program in the district has come to an end. The resettlement of city residents has been completed ahead of schedule.

    “The completion of the new building on Zavodskaya Street has made it possible to speed up the resettlement of residents of buildings included in the second stage of the renovation program. The building is designed for 477 apartments. For the convenience of Muscovites, entrance groups were made on both sides. You can exit both into the inner courtyard space with a playground, and into the outer part of the courtyard with guest parking for cars,” added the Minister of the Moscow Government, head of the capital’s Department of Urban Development Policy Vladislav Ovchinsky.

    The first to be resettled are residents of old buildings located at the following addresses: Zavodskaya Street, Buildings 4 and 6. According to the Minister of the Moscow Government, Head of the Moscow Department of City Property Maxim Gaman, letters offering equivalent apartments to 280 Muscovites were sent on October 30. City residents will be able to inspect the new housing starting the next day. Another 580 residents of two buildings at the addresses: Zavodskaya Street, Building 2 and 1 Maya Street, Building 4 will begin inspecting apartments on November 6 and 12, respectively. Specialists from the City Property Department will send them notifications with offers the day before — November 5 and 11.

    On the first floor of the new building, a public information center will be open from October 31, where you can get free consultations on resettlement issues.

    To all participants renovation programs The city offers spacious apartments with improved finishing, plumbing, electric stoves and lighting fixtures. The entrances are level with the ground. Thanks to this, parents with strollers and residents with limited mobility can get into the entrance without assistance. Children’s and sports grounds are arranged in the courtyards.

    Previously Sergei Sobyanin reported, that since the beginning of the year, 23 new buildings have been commissioned under the renovation program and 44 residential complexes have been handed over for occupancy.

    Renovation program housing was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. In 2023 alone, 59 new buildings in the capital were handed over for settlement and the resettlement of over 47 thousand people was ensured. The Mayor of Moscow has instructed to double the pace of implementation of the renovation program.

    Moscow is one of the leaders among regions in terms of construction rates and volumes. In recent years, within the framework of the federal project “Housing” of the national project “Housing and Urban Environment” the volume of construction and commissioning of residential properties in the capital has doubled – from three to five to seven million square meters per year. More information about national projects being implemented in Moscow can be found Here.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/145937073/

    MIL OSI Russia News –