News Hub | News Direct

Professional Services

Architecture CRM/Customer Service Consulting Government & Policy Human Resources Intellectual Property/Trademark/Patent Law Legal
Article thumbnail News Release

Retention Cloud Leader CleverTap Launches CleverTap for Startups

CleverTap

CleverTap, the modern, integrated retention cloud today announced the launch of CleverTap for Startups (C4S). Through this initiative, CleverTap will offer a full stack retention platform to all budding digital-native brands, in order to help them personalize and optimize all customer touchpoints, improving user engagement and conversion. Till date, thousands of large digital-native brands have benefited from CleverTap’s platform which has solved their needs at scale, speed, and security. The aim now is to make solutions even more affordable for pre-launch, early-stage startups, or companies with limited monthly active users. New and early-stage businesses have very different needs from larger, well-established brands. They require more flexibility, affordability, and a partner that provides seamless support fuelling their growth plans. CleverTap has currently partnered with more than 50 venture capital firms, incubators, and business accelerators including Sequoia Surge, Techstars, Y-combinator, AWS Activate, Accel and others to provide exclusive discounts and resources to early-stage startups through this initiative. The C4S initiative was undertaken a year back and the offerings have now been fine tuned following feedback from 1000+ startups and is now ready to launch. Through this initiative, CleverTap aspires to be a growth partner for more than 100,000 new businesses by the end of 2025. Through this initiative, early stage startups can opt for a flexible plan with no minimum scale requirement, and can make use of the platform with as low as 5000 monthly active users. The platform is designed realizing the requirement of SMBs/startups. Additionally, customers will have the option to customize the platform with add-ons and will have the ability to only pay for the services they use. Speaking about the initiative Anand Jain, Co-Founder & Chief Product Officer, CleverTap said, “Every small business needs an ecosystem of stakeholders that are supportive and will help them get on their growth journeys. Be it small or big, startups can use all the help they can get. In our effort to bolster new businesses globally we are excited to launch CleverTap for Startups. Customer retention for consumer brands is one of the key components to building a successful business. By offering our solutions to startups at a lower cost with flexible options, we want to create an atmosphere where we can support new businesses from their 0 to 1 and then 1 to 100 journeys.” About CleverTap CleverTap is the World's #1 Retention Cloud that helps app-first brands personalize and optimize all consumer touch points to improve user engagement, retention, and lifetime value. It's the only solution built to address the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation in one unified product. The platform is powered by TesseractDB™ - the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.CleverTap is trusted by 1500 customers, including Gojek, ShopX, Electronic Arts, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco. Backed by leading investors such as Sequoia India, Tiger Global, Accel, and CDPQ the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Singapore, and Jakarta. For more information, visit clevertap.com or follow on LinkedIn and Twitter Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release. Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction. Contact Details CleverTap Sony Shetty sony@clevertap.com Company Website https://clevertap.com/

November 25, 2022 08:22 AM Eastern Standard Time

Article thumbnail News Release

Ron DeSantis Leading in 2024 Polls Following Significant Efforts by Ready for Ron

Ready for Ron

Ready for Ron, the only credible independent group working to Draft Florida Governor Ron DeSantis to run for President, celebrated nearly six months of work that contributed to Governor DeSantis’s growing lead in several polls in key states – and will continue it’s successful DRAFT efforts. The advertising efforts, phone calls, petition, and grassroots campaign are helping generate significant lead s in Iowa, New Hampshire, Florida, and Georgia. Ready for Ron launched an advertising and grassroots mobilization effort in late May to help convince Ron DeSantis he has the support to win the Presidency in 2024. The PAC also filed a formal request (and later a lawsuit against) the Federal Election Commission to protect its right to share its supporter list with the candidate if he runs. Ready for Ron’s research by Impact Social which analyzes the online and social media discussion concerning Ron DeSantis and Donald Trump among swing voters shows Trump has lost most of the support among swing voters, and DeSantis is embraced by independents. The research (from more than 40,000 swing voters – likely the world’s largest focus group) also supports other polling that shows voters are favorably responding to the Ready for Ron call for him to run for President. In an op-ed entitled, “Even if Trump Could Win in 2024, Why Bother” conservative donor and free speech activist Shaun McCutcheon wrote, “Once you lose swing voters, it’s extremely difficult to get them back. Doing so isn’t impossible, especially for a man of such unique political prowess, but is it worth the time, money, and effort?” “If Election 2022 proved anything, it’s that DeSantis is the complete package: He is a true leader, seeing out the day-to-day roles and responsibilities that political leadership demands in good times and bad. DeSantis sticks to his principles — real, patriotic, American principles that don’t turn with the tide — but not at the expense of public service. DeSantis is not just a politician with savvy instincts; he is a public servant through and through,” wrote Ready for Ron Chief Political Strategist Ed Rollins in a November 10th op-ed in FoxNews.com. “DeSantis is not about ego or media hype; he is about results. That’s why Americans are ready for Ron to win the White House next.” Bob Carey, the leader of Veterans Ready for Ron, who led the effort to get petition signatures on Election Day stated, “Governor DeSantis knows how to rebuild and restore our military because he’s been part of it. He knows how to take care of our veterans because he is one. This veteran, and many more to follow, is proud to be part of these recruitment efforts. He is appealing to a broad cross-section of the electorate.” The leader of Students Ready for Ron, Dylan Dean said, “My generation is Ready for Ron to continue defending freedom and liberty - just as he has done in Florida – but on the national stage. Since the onset of the COVID-19 pandemic, Governor DeSantis refused to kowtow to the radical Left, keeping the Sunshine State open for business and rejecting the impulse to impose onerous mask and vaccine mandates on citizens of the state. It revealed true bravery and respect for liberty, and that's why so many students like me are supporting him now.” “There is zero doubt that the efforts we are undertaking at Ready for Ron are making a difference, stated Gabriel Llanes, Ready for Ron Executive Director. “People have taken note of that leadership. Competence and professionalism shine through. And they will keep shining through in the years to come. Leading up to 2024, the only viable path for Republicans to win back the White House begins and ends with DeSantis – and we will continue to make this case to voters.” “We will continue fighting for everyone’s rights. We will continue fighting back against those at the FEC seeking to deny your freedoms. And we will continue fighting to draft Ron DeSantis, beat Joe Biden in 2024, and save America,” stated Dan Backer, legal counsel to Ready for Ron who filed the lawsuit against the FEC. “The polling proves our efforts are working, Americans are ready for Ron, and nothing will stand in their way — especially not the FEC.” Ready for Ron continues its TV and online advertising efforts to engage Americans to sign the petition at ReadyForRon.com to Draft Ron DeSantis to run in 2024. ### For more information or to schedule an interview with a ‘Ready for Ron’ spokesperson, please contact Dan Rene at 202-329-8357 or dan@readyforron.com. Contact Details Dan Rene +1 202-329-8357 dan@readyforron.com Company Website https://www.readyforron.com/

November 21, 2022 01:57 PM Eastern Standard Time

Article thumbnail News Release

CardSnacks Helps Businesses Create Eye-Popping Holiday E-Cards with Introduction of Dynamic Envelopes

CardSnacks

With the holidays here, CardSnacks, the leading platform for individuals and businesses to send personalized e-greetings and gift cards, has rolled out a new feature to its CardSnacks for Business service allowing companies to further customize their electronic holiday greeting cards with Dynamic Envelopes. CardSnacks for Business users have long been able to customize the envelopes for their e-cards with their logos and brand standards. Now, they can add a range of different holiday animations to make their envelopes come to life and show off their creativity. “More and more companies have asked us for different ways to add value and personalization to e-cards, since they have become a preferred option versus a physical holiday card,” said Mark Wachen, Founder and CEO of CardSnacks. “Adding Dynamic Envelopes allows our community to create a truly breakthrough greeting card experience in a way no one else does.” Companies have consistently shifted to e-cards during the holidays, particularly because of the ease of adding gift cards and the ability to personalize the greetings to specific recipients. Customization has been a key driver of CardSnacks for Business’ growth. For instance, holiday cards for employees or clients can be easily designed with personalized messages and can include one of more than 400 gift cards that can be curated to match the recipients’ passions and interests. CardSnacks also offers the ability for business leaders to add a personalized video or voice message, and choose a soundtrack from a collection of many holiday favorites. CardSnacks for Business e-cards are also easier to send, with a simple mail merge interface, detailed analytics on engagement, and the ability to send the cards through e-mail or text. The cards can be scheduled in advance or sent immediately – great for executives who want to show their appreciation but don’t have the time to plan weeks into the future. “There was a time when some people thought sending an e-card or giving a gift card was the easy way out for the holidays,” Wachen said. “Nothing is further from the truth. With the ability to personalize CardSnacks, business leaders can have confidence that their clients, customers, partners, and team all know that there was real thought and care put into their greeting, from the words to the gift, to, now, even the envelope.” A free trial of CardSnacks for Business is available at www.cardsnacks.com/business. About CardSnacks CardSnacks is the leading platform for individuals and businesses to send personalized e-greetings, invitations, and gift cards. It is based in New York, with employees in California, London, and Israel. CardSnacks is available in the Apple App Store, Google Play Store, and on the web. For more information, please visit us at https://www.cardsnacks.com. Contact Details CardSnacks Media press@cardsnacks.com Company Website https://www.cardsnacks.com/

November 21, 2022 11:16 AM Eastern Standard Time

Article thumbnail News Release

As Iger Returns, Disney Must Focus on Vulnerabilities in China

National Legal & Policy Center

As The Walt Disney Company announced on Sunday the return of former executive chairman Robert Iger as interim CEO for two years, following the disastrous leadership of Robert Chapek – which drove share value down by 40% this year – a shareholder activist is calling upon the iconic Hollywood executive to scrutinize the company’s business in communist China. National Legal and Policy Center (NLPC), which earlier this year called Disney to account for its “complicity in China genocide” at its annual meeting, again will seek disclosure and transparency over its business activities in the far eastern nation with a shareholder proposal it has introduced for the company’s next meeting in March 2023. “We have our doubts about Bob Iger’s return and his willingness to reexamine the company’s relationship with the communist Chinese,” said Paul Chesser, director of NLPC’s Corporate Integrity Project. “After all, under his leadership he launched both the Shanghai and Hong Kong theme parks, and then gave majority control of Shanghai to a consortium of Chinese state-controlled companies. Now Shanghai Disney is locked down under the communists’ ‘Zero COVID’ policy and Hong Kong no longer operates with any semblance of freedom.” “Shareholders must get a better understanding of the further risks to stock value with the company’s entanglements with brutal dictators.” The text of NLPC’s proposal for a “Communist China Audit” report for Disney’s 2023 annual meeting follows: RESOLVED: Shareholders request that, beginning in 2023, The Walt Disney Company report annually to shareholders on the nature and extent to which corporate operations depend on, and are vulnerable to, Communist China, which is a serial human rights violator, a geopolitical threat, and an adversary to the United States. The report should exclude confidential business information but provide shareholders with a sense of the Company’s reliance on activities conducted within, and under control of, the Communist Chinese government. Supporting Statement: American companies doing business in Communist China is a controversial public policy issue. See, e.g., “Doing business in China is difficult. A clash over human rights is making it harder,” April 2, 2021, https://www.cnn.com/2021/04/02/business/nike-china-western-business-intl-hnk/index.html. The Walt Disney Company does business in – and relies on raw materials, finished products, broadcasts, entertainment venues, theme parks, labor and/or services from – entities in China. China is an established serial violator of human and political rights. China is also a hostile adversary of the U.S. for many reasons, including: — China intends to displace the U.S. as the lone global superpower by 2049; — The U.S. has committed to defend Taiwan, which China has militaristically asserted is part of its country and may attempt to seize by force; — U.S.-China relations are tense over a number of issues including China’s military expansion; egregious human rights violations; actions related to the COVID pandemic; intellectual property theft; relentless espionage; elimination of freedom in Hong Kong; and environmental pollution. China has also indicated that it would use its industrial capabilities for strategic purposes against adversaries. Many Chinese companies – which are ultimately under the control of the Communist government – are vulnerable to the U.S. Holding Foreign Companies Accountable Act, do not adhere to basic auditing standards, and are therefore untrustworthy. China – and by extension the companies it controls – is also identified in the U.S. State Department’s 2022 Trafficking in Persons Report as a state sponsor of human trafficking. It is now subject to the Uyghur Forced Labor Prevention Act, which imposes strict verification of parts and products imported from China, that they are not generated from slave labor. Disney’s extensive ties to China breed reputational risk for the company also. For example, while the company funds groups that promote the interests of homosexual and transgender individuals, the Communist government persistently and vigorously cracks down on those forms of identity within its borders. A July 2022 joint statement from the leaders of the British and American domestic intelligence agencies warned that the Communist Chinese Party is the greatest threat to the international order. “We consistently see that it’s the Chinese government that poses the biggest long-term threat to our economic and national security, and by ‘our,’ I mean both of our nations, along with our allies in Europe and elsewhere,” said FBI Director Christopher Wray. Given the controversial, if not dangerous, nature of doing business in and with China, shareholders have the right to know the extent to which The Walt Disney Company’s business operations depend on Communist China. Founded in 1991, NLPC promotes ethics in public life and government accountability through research, investigation, education, and legal action. ### For more information or to schedule an interview with Paul Chesser, contact Dan Rene at 202-329-8357 or drene@nlpc.org. Please visit http://www.nlpc.org. Founded in 1991, NLPC promotes ethics in public life and government accountability through research, investigation, education, and legal action. Contact Details Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

November 21, 2022 09:26 AM Eastern Standard Time

Article thumbnail News Release

Lexion Surveys Hundreds of Legal Professionals: Hiring Freezes and Layoffs to be Offset by Adopting New Technology

Lexion

Lexion, an AI-powered contract management system, today announced the results of a survey of 450 legal professionals on the current state of legal technology. Respondents include General Counsel, in-house counsel, legal operations and contract managers across a variety of industries, and the results were published in the report: ‘ The State of Legal Technology: Improving Efficiency with Existing Staff and New Technology as Hiring Slows.’ Respondents were asked to provide insight into what legal teams are doing in anticipation of an economic slowdown. “This year’s State of Legal Technology carries a sense of urgency given this moment we find ourselves in,” said David Wang, chief innovation officer at Wilson Sonsini. “We know 65 percent of legal professionals are worried about impacts of the uncertain economy and 69 percent anticipate cutting spending through reduced outside counsel consultation, hiring freezes, and layoffs. These worries are well-founded, but we know economic challenges do not decrease risk. In fact, they tend to surface risks previously covered by the rising tides and create new tempests and conflicts. It’s time to leverage technology to increase the legal team’s efficiency, better measure risks and outcomes, and deliver greater value to our clients and stakeholders.” Key findings include: Companies plan to slow down hiring (or freeze hiring altogether), while reducing outside counsel spend and conducting layoffs. Yet respondents remain optimistic that innovations in technology can increase efficiencies as companies struggle to do more with less. Of the challenges in-house counsel identified as significant barriers to doing their jobs well, ‘too much time spent on low value tasks’ rose to the top. Over one third of respondents specifically identified time wasted on finding, tracking and versioning documents, despite the fact version control solutions have been around for decades. “In-house lawyers are bullish on using technology to alleviate increasing workloads,” said Gaurav Oberoi, cofounder and CEO, Lexion. “Yet finding the right technology platform – one that doesn't take months of implementation and training – has remained elusive, and legal teams have been cautious as a result. The slowing economy is pushing legal teams to find and adopt high ROI systems that fill the headcount gap, while requiring minimal change management." Lexion offers an end-to-end contract management solution for in-house legal teams that helps them capture key metrics and accelerate deals while using AI and automation to help them scale. Unlike other contract management systems, stakeholders can work with Lexion entirely via email, eliminating the need for complex configuration and training. About Lexion We built Lexion at Microsoft co-founder Paul Allen’s artificial intelligence research institute (AI2) and are backed by the same investors that funded OpenAI (Khosla Ventures), helped launch Amazon (Madrona Venture Group), and have advised Google (Wilson Sonsini). With a top notch and experienced team from Microsoft, Facebook, Google, and Amazon, we built a company that CB Insights ranked the #1 most promising AI legal tech startup in the world two years in a row (2020, 2021). Lexion is a Top 40 Intelligent Application based on votes from Goldman Sachs, Madrona, Khosla Ventures, Andreessen Horowitz, Sequoia Capital, and many of the top AI investors in the world. Most importantly, fantastic brands trust Lexion to manage their contracts: Outreach, OfferUp, Blue Nile, Apptio, Brooks, and many more. Visit https://lexion.ai for more. Contact Details Forrest Carman +1 206-859-3118 forrestc@owenmedia.com Company Website https://lexion.ai/

November 17, 2022 09:00 AM Pacific Standard Time

Video
Article thumbnail News Release

Thirty-one Contract Managers Graduate from North Carolina Procurement Academy Certification Program

National Contract Management Association

CONTACT INFORMATION: Dominick Belfiore, Director of Operations and Special Projects Phone: (571) 382-1121 Email: dominick.belfiore@ncmahq.org Jody Cleven, Ph.D. Deputy State Purchasing Officer/Chief Learning Officer Phone: (984) 236-0251 Email: jody.cleven@doa.nc.gov Thirty-one contract managers graduated from the North Carolina Contract Manager (NCCM) certification program in 2022. The program is run by the North Carolina Department of Administration’s (NCDOA) Division of Purchase & Contract as part of the North Carolina Procurement Academy. Officially launched in 2019 in response to a legislative mandate, the NCCM program provides state employees key training and best practices on contract administration and negotiation strategies. More than 200 contract managers have participated in the program. “North Carolina procurement and contract managers play a critical role in bringing efficient and effective government to the people of North Carolina,” said North Carolina Governor Roy Cooper. “Earning professional certification reinforces the public trust and their dedication to public service improves lives across the state." The six-course certification program is based on the National Contract Management Association (NCMA) Contract Management Body of Knowledge® (CMBOK®) and the Contract Management Standard™ (CMS™), which are nationally recognized programs used by contract managers across federal and state government agencies, universities, and other organizations nationwide. NCMA Chief Executive Officer Kraig Conrad delivered the graduation address at the NCCM graduation ceremony held in Raleigh, NC, in June 2022. NCDOA State Purchasing Officer David O’Neal said, “Our NCCM program seeks to develop critical thinking public procurement professionals, while introducing a common language that helps to ensure effective communication across all levels of procurement and contracting.” Graduates of the North Carolina Purchasing Academy program are required to recertify their credential every five years. Earlier this year, the academy also launched the North Carolina Purchaser Certification Program that focuses on the entire procurement process. Already, plans are underway for another certification level, the North Carolina Purchasing Officer, with an anticipated release in 2023. For more information about the North Carolina Procurement Academy certification program, visit https://ncadmin.nc.gov/. The North Carolina Procurement Academy (NCPA) promotes professional competency and growth for individuals performing procurement and contract management roles with the state. Operating within the Department of Administration's Division of Purchase & Contract, the academy provides rigorous and relevant certification pathways based on national standards of competence in public procurement, as well as a variety of professional development opportunities to help procurement personnel improve their practice. To learn more, please visit https://ncadmin.nc.gov/. The National Contract Management Association (NCMA), which was founded in 1959 and is the world’s leading association in the field of contract management. The organization, which has over 18,000 members, is dedicated to the professional growth and educational advancement of procurement and acquisition personnel worldwide. NCMA strives to serve and inform the profession and industry it represents and to offer opportunities for the open exchange of ideas in neutral forums. To learn more, please visit www.ncmahq.org. ### The National Contract Management Association (NCMA), which was founded in 1959 and is the world’s leading association in the field of contract management. The organization, which has over 18,000 members, is dedicated to the professional growth and educational advancement of procurement and acquisition personnel worldwide. NCMA strives to serve and inform the profession and industry it represents and to offer opportunities for the open exchange of ideas in neutral forums. To find out more, please visit www.ncmahq.org. Contact Details Dominick Belfiore +1 571-207-5151 dominick.belfiore@ncmahq.org Company Website https://www.ncmahq.org/

November 17, 2022 11:45 AM Eastern Standard Time

Article thumbnail News Release

Minuteman Press Franchisees Dawn and Dean Seifert Celebrate 15 Years in Youngstown, Ohio

Minuteman Press International Inc

Dawn and Dean Seifert, owners of two Minuteman Press franchises in Youngstown and Warren, Ohio, are celebrating 15 years in business for their Youngstown location, which opened in May 2007. Minuteman Press in Youngstown is located at 3200 Belmont Avenue, Youngstown, OH 44505. In January 2020, Dawn and Dean purchased Minuteman Press in Warren located at 2460 Elm Road NE, Unit 500, Warren, OH 44483. Prior to franchising with Minuteman Press, Dean grew up in a family-owned print shop while Dawn worked in banking. They decided to own a business “to set our own destiny,” says Dawn. When asked about their success and longevity over the past 15 years, Dean says, “There are 4 keys to our business: Being able to have two of our four children work with us in the family business. Our customer service – we never tell a client that something can’t be done. We update our equipment when needed to make sure we operate efficiently. Following the Minuteman Press franchise system and marketing to our clients and community.” Dawn adds the following insights on how they have successfully marketed the business. She says, “There are 4 primary ways we have grown our business: Getting involved in the community and sponsoring various local events. Visiting our clients on a regular basis. Providing customers with our branded promotional items. Utilizing email marketing campaigns.” For Dawn and Dean, their high-demand products from clients include “custom printed brochures, branded promotional products, and full-scale direct mail marketing campaigns that include graphic design, printing, and mailing.” Dean says, “People still like to have something to hold onto and printing is the perfect way to put your brand in their hands and make a lasting impression.” Today, the local business community is looking bright. Dean shares, “We are excited to be part of a community along Liberty’s Belmont Avenue Business Corridor, which is the Mahoning Valley’s home base for many family-owned businesses. We are local businesses supporting each other and our customers. One of the biggest rewards of owning this business is building real relationships with our clients and having them become part of our family.” As part of the Minuteman Press franchise system for 15 years, Dawn and Dean share their three key benefits of franchising: “The corporate and local regional offices are always just a phone call away. The training was perfect for us and laid the foundation for how we operate our business. The Minuteman Press FLEX software helps us manage our business – it is easy to learn and operate/maintain.” As for what advice they would give to other businesses owners right now, Dean says, “Don’t try to do everything yourself. Also, treat your employees right and share your growth with them.” For more information about Minuteman Press in Youngstown, Ohio, visit https://minuteman.com/us/locations/oh/youngstown/ For more information about Minuteman Press in Warren, Ohio, visit https://minuteman.com/us/locations/oh/warren/ Learn more about #1 rated Minuteman Press franchise opportunities and to see Minuteman Press franchise reviews, visit https://minutemanpressfranchise.com Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

November 17, 2022 10:00 AM Eastern Standard Time

Image
Article thumbnail News Release

EY Report: Surety Bonding Provides Strong Economic Value and Strengthens Performance for Public and Private Construction Projects

SFAA

A new study released today, The Economic Value of Surety Bonds, finds public and private construction projects protected by surety have lower rates of contractor default, lower cost of completion in the case of default, and are finished faster than non-bonded projects. For a bonded portfolio of construction projects, the overall value of surety bonds more than covers their cost. The study, by Ernst & Young’s (EY) Quantitative Economics and Statistics Group (QUEST), was conducted in collaboration with the Surety & Fidelity Association of America (SFAA) which released the findings. EY’s analysis quantified the benefits surety bonding generates throughout the lifecycle of a portfolio of public and private construction projects – including benefits extending beyond the financial protection surety companies provide when contractors default. As a result, EY’s research found that bonded project portfolios modeled perform better than unbonded portfolios, even when considering conservative default rates. “The report exposes the risks of unbonded construction projects, including project delays and higher costs, especially in the case of default, and shows that state and federal laws requiring surety bonds are sound. It’s just good public policy,” said SFAA president and CEO Lee Covington. “EY is a trusted, data-driven firm, and their analysis makes clear surety bonds deliver exceptional economic value for vital American infrastructure projects. EY’s report highlights the economic value and protections surety bonds deliver for both public and private construction projects,” continued Covington. Based on a survey of public and private developers, interviews with experts on construction project defaults, and an assessment of project portfolios, the analysis identified three areas where surety bonds have a significant impact on public and private construction projects. Lower cost of completion upon default and necessary completion expertise – Unbonded construction projects on which the contractor defaults were found to have a cost of completion 85% higher than projects protected by surety bonds. Experts on construction project defaults also unanimously indicated the surety is generally more able to provide the expertise and resources needed to promote a successful transition or re-procurement process than an owner. Over 90% of these experts reported public and private owners/developers generally do not have the expertise and resources to complete the project. Lower rate or likelihood of default – Unbonded projects are more likely to default than bonded projects, perhaps by as much as ten times. This analysis assessed portfolio performance using a default rate of 2.5 times, 5 times, and 10 times a bonded portfolio’s default rate, and generally found unbonded projects are more likely to default than bonded projects. This is in large part because unbonded projects lack the various types of support bonding provides to projects (e.g., prequalification of a contractor’s expertise and financial strength, greater project oversight). Improved or lower contractor pricing – 75% of owners/developers surveyed reported that surety bonding reduces contractor pricing. Respondents cited increased confidence in the general contractor to complete the project and pay subcontractors and payment protections for subcontractors as some of the factors that impact contractor pricing. The analysis demonstrates that any level of improved contractor pricing will only increase the cost benefits of a portfolio of bonded projects. “This report provides a comprehensive examination of the economic benefits and protections of surety,” said Principal & Co-leader, Ernst & Young (EY) Quantitative Economic and Statistics (QUEST) Group, Robert Carroll. “Based on our analysis, the multiple benefits surety delivers help manage risk and provide strong economic and performance value to construction projects," continued Carroll. The EY report found additional benefits surety bonds bring to both public and private construction projects, including: More rigorous prequalification and review – Prior to construction, prequalification was more likely to occur for bonded projects (96% of respondents reported that pre-qualification was performed for bonded projects as compared to 61% for non-bonded), and during construction, contractors provided more information for bonded projects - general contractors were nearly twice as likely to share more than one financial update for bonded projects as for non-bonded projects. Higher priority placed on bonded projects and greater project oversight – Respondents reported that contractors prioritize bonded projects when experiencing financial challenges. Nearly 5 times as many respondents indicated that contractors place a higher priority on bonded projects as compared to unbonded projects when facing financial difficulty. Greater project oversight with more involvement by construction managers is likely to help prevent losses. Greater timeliness of completion – 5 times as many public and private owners reported, bonded projects are more likely to be completed on time or ahead of schedule than non-bonded projects. And when a project does default, an unbonded project will take nearly 2 times longer to complete than a bonded project. Necessary experience and resources when defaults occur – 100% of construction default experts surveyed/interviewed for this analysis said sureties have the expertise, tools and resources necessary to complete a project in the most cost and time-effective manner as compared to an owner who does not have the same expertise and experience as a surety. To read the EY report and get additional information visit www.surety.org/suretyprotects. The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com. Contact Details Peter Roth +1 703-401-0676 proth@surety.org Company Website https://surety.org/

November 17, 2022 09:40 AM Eastern Standard Time

Article thumbnail News Release

Volatus Aerospace Introduces All-Terrain Robotic Crawler, Hydra

Volatus Aerospace Corp.

Today, Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company") introduces the robotic crawler, Hydra. Outfitted with wear-resistant all-terrain treads and built on a solid metal chassis, the Hydra is a robotic crawler platform controlled with a rugged dual-screen remote and equipped with an easy-to-use customizable switch layout. Designed for use in a variety of applications with a wide range of payloads, it can handle challenging terrains and dangerous situations with ease, prioritizing the safety of human life. “The Hydra was built to withstand tough conditions, like those you would encounter at mining sites and wildfires,” explained Pedram Nowroozi, CTO of Volatus aerospace. “In fact, we began development on the Hydra based on a need from one of our mining clients. They wanted to be able to go into tight and rugged spaces with a LiDAR sensor for surveying and mapping projects that would otherwise be dangerous for their crew. We are proud of what we accomplished and very excited to be making these units available commercially.” “ According to Future Market Insights, smart mining technologies alone are predicted to reach $9 B by 2032 US with a CAGR of 14%,” said Glen Lynch, CEO of Volatus Aerospace. “The Hydra was designed to capture that market and has the capability to expand into other diverse markets like firefighting. In fact, we’ve already developed a model that can provide fire suppression so that firefighters can multiply their workforce when fighting complex and dangerous fires.” Customizable to fit client’s exact needs, the Hydra can handle up to 120 kilograms with a standard three-hour runtime in a 2-kilometer range, with optional upgrades to increase range, including a 5G 4 SIM LTE module and a larger 6-hour battery. Volatus’ mining client has already taken delivery of their first Hydra unit. The Company is now making it available to more clients as off the shelf or a specifically customized product. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout North America and growing into Latin America and globally. Volatus serves civil, public safety, and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, as well as R&D, design, and manufacturing. Through our subsidiary, Volatus Aviation, we are introducing green and innovative drone solutions to supplement and replace traditional aircraft and helicopters for long-linear inspections such as pipeline, energy, rail, and cargo services. Volatus is committed to carbon neutrality; the fostering of a safe, equitable and inclusive workplace; and responsible governance. Forward-Looking Information This news release contains statements that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information and forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) the business plans and expectations of the Company; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial, and economic data and operating plans, strategies, or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information and forward-looking statements reflect the Company’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the commercialization of drone flights beyond visual line of sight and potential benefits to the Company; and meeting the continued listing requirements of the TSXV. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Pedram Nowroozi +1 647-887-1448 pedram.nowroozi@volatusaerospace.com Company Website https://volatusaerospace.com

November 17, 2022 06:30 AM Eastern Standard Time

Image
12345 ... 81