Monday, September 1, 2014
DOJ SETTLES KICKBACK ALLEGATIONS CASE WITH MEDICAL DEVICE COMPANY AND SURGEON FOR $2.6 MILLION
FROM: U.S. JUSTICE DEPARTMENT
Friday, August 29, 2014
“The Department of Justice has longstanding concerns about improper financial relationships between health care providers and their referral sources, because such relationships can alter a physician’s judgment about the patient's true health care needs and drive up health care costs for everybody,” said Assistant Attorney General Stuart F. Delery for the Justice Department’s Civil Division. “In addition to yielding a recovery for taxpayers, this settlement should deter similar conduct in the future and help make health care more affordable.”
The Anti-Kickback Statute restricts the financial relationships that medical device manufacturers may have with doctors who use or prescribe their products. It is intended to ensure that a physician’s medical judgment is not compromised by improper financial incentives and is instead based upon the best interests of the patient.
The settlement announced today involved payments that Spine 360 made between 2007 and 2009 to an entity controlled by Gottlieb. Although the payments were purportedly made pursuant to a series of intellectual property agreements, the United States contended that those agreements were shams, and that the payments were intended to compensate Gottlieb for using Spine 360 products in his surgeries.
This settlement illustrates the government’s emphasis on combating health care fraud and marks another achievement for the Health Care Fraud Prevention and Enforcement Action Team (HEAT) initiative, which was announced in May 2009 by the Attorney General and the Secretary of Health and Human Services. The partnership between the two departments has focused efforts to reduce and prevent Medicare and Medicaid financial fraud through enhanced cooperation. One of the most powerful tools in this effort is the False Claims Act. Since January 2009, the Justice Department has recovered a total of more than $22.4 billion through False Claims Act cases, with more than $14.2 billion of that amount recovered in cases involving fraud against federal health care programs.
The case was handled by the Commercial Litigation Branch of the department’s Civil Division , the U.S. Attorney’s Office for the Northern District of Indiana and the U.S. Department of Health and Human Services-Office of Inspector General. The claims settled by this agreement are allegations only, and there has been no determination of liability.
LABOR DEPARTMENT SECRETARY'S STATEMENT ON LABOR DAY 2014
FROM: U.S. DEPARTMENT OF LABOR
Statement on Labor Day by US Secretary of Labor Thomas E. Perez
WASHINGTON — Each year, Labor Day gives us an opportunity to recognize the invaluable contributions that working men and women make to our nation, our economy and our collective prosperity. It gives us a chance to show gratitude for workers' grit, dedication, ingenuity and strength, which define our nation's character. At the Labor Department, it also provides an opportunity to reflect on how we can best serve and honor workers in return.
This year, we're honoring workers by investing more than a $1 billion in job-driven training programs to give Americans the skills employers need. We're honoring workers by promoting quality apprenticeships that will enable more people to "earn and learn." We're honoring workers, at President Obama's direction, by developing new rules to give more workers access to overtime pay and increase the minimum wage for private-sector workers hired under federal contracts. We're honoring workers by implementing a new life-saving rule to limit miners' exposure to coal dust and move us closer to eliminating black lung disease and by taking the next steps toward protecting workers from inhaling high levels of crystalline silica.
But as a nation, we can do more to lift workers up, and to ensure that all hardworking people are able to climb ladders of opportunity and reach for the American dream. It's time to raise the national minimum wage, so that no one working a full-time job has to live in poverty. It's time to update our workplace policies to reflect the realities of the 21st century labor force and to support modern working families. It's time to continue our nation's long commitment to supporting unemployed workers by extending emergency unemployment compensation.
Our nation is in the midst of a strong economic recovery. Job growth has topped 200,000 for six consecutive months — the first such stretch since 1997. Businesses have added nearly 10 million jobs since February 2010, with 53 consecutive months of growth. I'm optimistic about where we're headed — and I know we wouldn't be where we are without the resilience, commitment and strength of American workers.
This Labor Day, let's remember that hardworking men and women are the backbone of our country, and let's redouble our efforts to uphold our nation's great promise to them: that if you work hard and play by the rules, you can make it in America.
Sunday, August 31, 2014
U.S. MILITARY EXPANDS SPACE-TRACKING WEBSITE TO LOOK FOR DEBRIS OF UNKNOWN ORIGIN
FROM: U.S. DEFENSE DEPARTMENTOfficials Expand Space-tracking Website
By Amaani Lyle
DoD News, Defense Media Activity
WASHINGTON, Aug. 25, 2014 – Defense Department officials announced additions to its space situational awareness program’s Space-Track.org website.
In a recent telephone interview with DoD News, Air Force Maj. Gen. David D. Thompson, U.S. Strategic Command’s director of plans and policy at Offutt Air Force Base, Nebraska, said the release of new high-quality positional information on space debris of an unknown origin will help owner-operators better protect their satellites from these objects and ultimately create less space debris.
“We run a predictive program that shows where the objects are, where they will be in the future, and the potential for these objects to run into each other,” Thompson said.
Thompson explained that most of the debris that is considered “objects of unknown origin” resulted from launches or space collisions, but has not been definitively identified by source.
Thousands of space objects
The Joint Functional Component Command for Space at Vandenberg Air Force Base in California currently tracks more than 17,000 objects in space on a continuous basis, Thompson said. Among those objects, he said, about 1,100 are active satellites currently conducting operations.
The average person has a lot more invested in space than he or she may realize, Thompson said.
“We have more than 30 GPS satellites on orbit today providing global navigation and positioning for the world,” the general said.
With modern smart phones offering so many diverse functions, the loss of connectivity and functionality could cripple a fair amount of consumers in the United States and abroad.
“Networks that run those and the timing required to keep them all in sync is enabled through the global positioning system that every U.S. citizen and just about every advanced global citizen depends on,” Thompson said.
Yet it is the other approximately 16,000 objects -- the ones not active and/or of unknown origin in space -- that JFCC Space and Stratcom are most concerned with.
Objects present collision threat
Many objects, ranging from at least the size of the human fist to as large as the international space station, which is slightly larger than a full-sized soccer field, continue to pose a collision threat in space, Thompson said.
“There is also a high volume of debris smaller than the average fist that [JFCC Space] cannot track that are also on orbit today,” he said.
With old satellites and debris orbiting at thousands of miles per hour, the probability of a collision poses a threat to the continuing mission of operational satellites.
Exchange of space information
While some active satellites are not maneuverable, JFCC Space officials said they try to inform the owners of all satellites that they may want to take action to reduce the likelihood of collision.
“Exchanging information allows spacefaring organizations to take action to reduce the risk of a collision that could generate hundreds of thousands of pieces of additional space debris,” said Lt. Gen. John W. Raymond, JFCC Space commander. “JFCC Space shares information globally because it is in everyone’s best interest to ensure the safety of the space domain.”
An example of space cluttering occurred in 2007, Thompson said, when the Chinese conducted an anti-satellite weapons test and almost immediately created 1,500 new objects that pose a risk to satellites in orbit.
Stratcom tracks space objects
And after the collision of an inoperable spacecraft with a commercial communications satellite in 2009, Stratcom took on the role for the world in keeping track of such objects and providing that warning to others to prevent the situation from worsening, Thompson said.
“We have the assigned responsibility for planning and conducting space operations,” said Navy Adm. Cecil D. Haney, Stratcom’s commander.
“By sharing previously unavailable information on space objects, we’re helping nations that operate in space to do so safely and effectively,” Haney added. “It is one way we fulfill our assigned space mission for the U.S. and its allies, while also protecting capabilities important to citizens around the world.”
Yet it is a mission that extends beyond the average civilian.
Warfighters depend on satellites
Joint warfighters depend on advanced warning such as missile launch or intelligence, surveillance and reconnaissance from satellite systems, Thompson said.
“It’s understanding what’s there [in space], what [the object] is doing, and how it poses a threat to our military mission, to our ability to support joint forces and contribute to the global good,” the general said. “While space is a very big place, there are a lot of things up there.”
As such, for several years, JFCC Space has been responsible for monitoring, coordinating and synchronizing space operations for the Department of Defense.
“We are the single point of contact for U.S. military space operational matters,” Raymond said. “We are not, however, the only ones who operate in that environment.”
Many organizations in space
Many public, private, commercial and other governmental organizations conduct space operations.
“Space is not owned by anyone, it is used by all and we strongly support responsible and safe use of space and transparency of operations that go on in space,” Thompson said.
Reversing congestion and pollution in space, he said, is a complex task.
“We are talking decades or centuries before the environment will clean itself naturally so we have to share and act responsibly with this precious resource because it’s important to all of us,” Thompson said.
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RUSSIA CONTINUES BUILDUP
FROM: U.S. DEPARTMENT OF DEFENSE
Pentagon: Russia Intensifies Efforts Inside Ukraine
By Jim Garamone
DoD News, Defense Media Activity
WASHINGTON, Aug. 29, 2014 – Russia continues to build up along its border with Ukraine and has moved sophisticated weapons systems into the country, the Pentagon press secretary said here today.
Navy Rear Adm. John Kirby told reporters that Russian military forces are part of those movements. Russian forces are, “facilitating the movement and then helping the separatists use the systems, if not using it themselves in support of separatists,” he said.
NATO has released surveillance photos showing these assets inside Ukraine. Kirby tied the Russian movements to the success that Ukraine has had against Russian-backed separatists in the country. “We believe that that has helped foster Moscow’s intention to intensify these efforts,” he said.
Kirby called Russian actions an “intensification” of the behaviors the Kremlin has exhibited for months.
“Our position hasn't changed,” he said. “We continue to look for ways to support the Ukrainian armed forces and the border guards. We continue to look for ways to reassure our NATO allies and partners, and we continue to call for Russia to pull its forces back and to stop escalating the tension there.”
President Barack Obama addressed the issue yesterday during a White House news conference. Russia has deliberately and repeatedly violated the sovereignty and territorial integrity of Ukraine, the president said. He called on nations of the world to impose new sanctions against Russia.
“As a result of the actions Russia has already taken and the major sanctions we’ve imposed with our European and international partners, Russia is already more isolated than at any time since the end of the Cold War,” the president said.
Obama said he would reaffirm U.S. commitment to the defense of NATO allies and said he would speak with fellow NATO leaders at the summit in the United Kingdom next week.
“We’ll focus on the additional steps we can take to ensure the alliance remains prepared for any challenge,” he said.
Ukraine is not a NATO member, but the United States does “stand shoulder-to-shoulder with them,” the president said.
POLITICAL CONSULTANT PLEADS GUILTY FOR ATTEMPT TO CONCEAL CAMPAIGN FINANCE-RELATED FRAUD SCHEMES
FROM: U.S. JUSTICE DEPARTMENT
Wednesday, August 27, 2014
Philadelphia Political Consultant Pleads Guilty for His Role in Attempting to Conceal Campaign Finance-Related Fraud
Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, U.S. Attorney Zane David Memeger of the Eastern District of Pennsylvania, Special Agent in Charge Edward Hanko of the FBI’s Philadelphia Field Office and Special Agent in Charge Akeia Conner of the Internal Revenue Service-Criminal Investigation (IRS-CI) made the announcement. The plea was entered by U.S. District Court Judge Harvey Bartle III of the Eastern District of Pennsylvania.
According to court documents, the charges stem from Naylor’s participation in two campaign finance-related schemes initiated by a long-time friend and former employer, identified in the information as Elected Official A. In the first scheme, Naylor helped conceal the theft of federal grant funds and private charitable funds that were used to repay an illegal campaign debt incurred by Elected Official A during a 2007 campaign for elected office.
Specifically, Naylor was aware that large amounts of money from an unexplained source were being spent on Elected Official A’s campaign, and Naylor helped to conceal the source of those funds by preparing a false invoice for services rendered by his consulting firm. Naylor subsequently learned that Elected Official A and others orchestrated the theft of federal grant funds to repay the outstanding balance of the campaign debt, and he agreed to the falsification of campaign finance reports to further conceal Elected Official A’s activities.
Also according to court documents, in the second scheme, Naylor conspired with Elected Official A to pay down portions of the college debt of Elected Official A’s son using federal and local campaign funds. Some of the payments originated directly from the local campaign fund, and some were illegally sourced from Elected Official A’s federal campaign election committee and passed through the local campaign fund account to Naylor. Naylor made approximately $22,000 in improper payments between August 2007 and April 2011 at Elected Official A’s request. Naylor also falsely claimed on IRS forms that the payments made towards the college debt were earned income to Elected Official A’s son for services rendered as an independent contractor to Naylor’s consulting firm. When confronted by federal agents in investigative interviews about the payments, Naylor lied on two occasions and repeated his cover story that the son of Elected Official A was an independent contractor working for his political consulting firm.
Sentencing is scheduled for Dec. 2, 2014.
The case was investigated by the FBI and the IRS-CI with assistance provided by the NASA Office of the Inspector General. This case is being prosecuted by Assistant U.S. Attorney Paul L. Gray of the Eastern District of Pennsylvania and Trial Attorney Eric L. Gibson of the Criminal Division’s Public Integrity Section.
ISS VIEW OF EASTERN MEDITERRANEAN AT NIGHT
FROM: NASA
Eastern Mediterranean Coastline at Night
Bright but narrow lines that snake between the cities are highways. The darker areas with smaller patches of lights are mostly agricultural and pastoral areas of Israel, Sinai, the West Bank, and Jordan. A wide, almost black zone between Jerusalem and Amman trends north-south across the right half of the image; it is the long valley that includes the Jordan River and the Dead Sea.
Click here to view an astronaut image of the same area in daylight. And read more here about a new NASA crowd-sourcing project to identify cities and towns in night images from the space station.
Astronaut photograph ISS040-E-74022 was acquired on July 22, 2014, with a Nikon D3S digital camera using an 85 millimeter lens, and is provided by the ISS Crew Earth Observations Facility and the Earth Science and Remote Sensing Unit, Johnson Space Center. The image was taken by the Expedition 40 crew. It has been cropped and enhanced to improve contrast, and lens artifacts have been removed. The International Space Station Program supports the laboratory as part of the ISS National Lab to help astronauts take pictures of Earth that will be of the greatest value to scientists and the public, and to make those images freely available on the Internet. Additional images taken by astronauts and cosmonauts can be viewed at the NASA/JSC Gateway to Astronaut Photography of Earth. Caption by M. Justin Wilkinson, Jacobs at NASA-JSC.
FTC WARNS CONSUMERS ABOUT SCAMS USING FAKE GOVERNMENT AFFILIATION AS MEANS TO ILLICIT MONEY
FROM: U.S. FEDERAL TRADE COMMISSION
FTC Warns Against Government Imposter Scams
Can you spot a government imposter?
Even if your phone’s caller ID says “FTC” or “IRS,” or shows Washington, DC’s “202” area code, it could still be a scam. Scammers know how to show fake information on caller ID.
The Federal Trade Commission is warning consumers about scammers who pretend they’re with the government to scare you into sending money. They say you owe taxes or some other debt, and tell you to put money on a prepaid debit card and tell them the number — something no government agency would ask you to do.
Others say you’ve won big money in a sweepstakes the FTC or some other agency is supervising, and that the money will be yours when you pay for shipping, taxes, or some other expense. But it’s just phony baloney. Federal government agencies will never ask you to send money for prizes.
Saturday, August 30, 2014
STATEMENT BY SECRETARY KERRY ON THE INTERNATIONAL DAY OF THE DISAPPEARED
FROM: U.S. STATE DEPARTMENT
International Day of the Disappeared
Press Statement
John Kerry
Secretary of State
Washington, DC
August 30, 2014
Countless people around the world are haunted by the disappearance of a loved one. Those who vanished are neither alive nor dead. Their mothers and fathers, husbands and wives, family and friends are left without closure – neither able to mourn their loss nor rejoice in the safe return of their loved ones.
Today, we mark the 31st International Day of the Disappeared and remember those individuals whose locations and fates remain unknown. Too often, lawyers, investigative journalists, and human rights activists fall victim to kidnapping for simply speaking the truth. That is unacceptable.
In Syria, thousands have disappeared at the hands of the Assad government. Violent extremist groups such as ISIL are ruthlessly targeting and disappearing innocent civilians in Syria and Iraq. In Nigeria, extremists kidnapped the Chibok girls from their school in the middle of the night. Such disappearances bring suffering to the victims and heartbreak to their families. They also create toxic atmospheres and breed terror within communities.
The State Department commends those men and women who work tirelessly to bring home missing individuals. The advancement of DNA sampling and analysis has helped reunite families who have suffered from unjust disappearances. Just last year the State Department helped to reunite a woman in Latin America who was abducted from her family during a massacre in 1982. She was only 18 months old at the time.
The United States and our international partners remain vigilant in our pursuit of those missing around the globe. They are missing, but never left behind. They are gone, but not lost. They are taken, but not forgotten.
Today, we mark the 31st International Day of the Disappeared and remember those individuals whose locations and fates remain unknown. Too often, lawyers, investigative journalists, and human rights activists fall victim to kidnapping for simply speaking the truth. That is unacceptable.
In Syria, thousands have disappeared at the hands of the Assad government. Violent extremist groups such as ISIL are ruthlessly targeting and disappearing innocent civilians in Syria and Iraq. In Nigeria, extremists kidnapped the Chibok girls from their school in the middle of the night. Such disappearances bring suffering to the victims and heartbreak to their families. They also create toxic atmospheres and breed terror within communities.
The State Department commends those men and women who work tirelessly to bring home missing individuals. The advancement of DNA sampling and analysis has helped reunite families who have suffered from unjust disappearances. Just last year the State Department helped to reunite a woman in Latin America who was abducted from her family during a massacre in 1982. She was only 18 months old at the time.
The United States and our international partners remain vigilant in our pursuit of those missing around the globe. They are missing, but never left behind. They are gone, but not lost. They are taken, but not forgotten.
U.S. STATE DEPARTMENT TARGETS IRANIAN WMD PROLIFERATORS WITH SANCTIONS
FROM: U.S. STATE DEPARTMENT
Additional Sanctions Imposed by the Department of State Targeting Iranian Proliferators
Media Note
Office of the Spokesperson
Washington, DC
August 29, 2014
Actions Targeting Weapons of Mass Destruction (WMD) Proliferators and Their Supporters
As part of these combined actions, the Department of State imposed sanctions on four companies pursuant to Executive Order (E.O.) 13382 for engaging in or attempting to engage in activities that have materially contributed to, or posed a risk of materially contributing to, the proliferation of WMD or their means of delivery. The Department of State’s designations comprise Iran-based entities engaged in efforts to support the development of nuclear weapons, or elements of Iran’s program that could be used to produce nuclear weapons.
Organization of Defensive Innovation and Research:
The Organization of Defensive Innovation and Research (SPND) is a Tehran-based entity that is primarily responsible for research in the field of nuclear weapons development. SPND was established in February 2011 by the UN-sanctioned individual Mohsen Fakhrizadeh, who for many years has managed activities useful in the development of a nuclear explosive device. Fakhrizadeh led such efforts in the late 1990s or early 2000s, under the auspices of the “AMAD Plan, the MODAFL subsidiary Section for Advanced Development Applications and Technologies (SADAT) and Malek Ashtar University of Technology (MUT). In February 2011, Fakhrizadeh left MUT to establish SPND. Fakhrizadeh was designated in UNSCR 1747 (2007) and by the United States in July 2008 for his involvement in Iran’s proscribed WMD activities. SPND took over some of the activities related to Iran’s undeclared nuclear program that had previously been carried out by Iran’s Physics Research Center, the AMAD Plan, MUT, and SADAT.
Nuclear Science and Technology Research Institute:
Iran’s Nuclear Science and Technology Research Institute (NSTRI) implements projects in the nuclear field, specifically at Iran’s 40-megawatt heavy water research reactor at Arak (the IR-40) - a reactor that, as presently designed, would provide Iran the capability to produce plutonium from the reactor’s spent fuelthe could be used in nuclear weapons. NSTRI has engaged with Modern Industries Technique Company (MITEC), an Iranian entity is responsible for design and construction of the IR-40, to produce lead glass for the hot cell facilities at the IR-40. This project would allow Iran, when reprocessing spent fuel, to contain radiation using high-density concrete walls to enclose the primary containment area, known as a “hot cell.” Hot cells with thick radiation shielding and leaden glass for direct viewing are adequate for research-scale plutonium extraction. NSTRI is a subordinate to the Atomic Energy Organization of Iran (AEOI), which is the primary Iranian organization responsible for nuclear technology research and development activities and was designated by the UNSC in resolution 1737 (2006) and by the United States in the annex to E.O. 13382. Further, MITEC was designated by the UNSC in resolution 1929 (2010) for its involvement in the design and construction of the IR-40, and by the United States pursuant to E.O. 13382 in November 2011 for providing services to the AEOI.
Jahan Tech Rooyan Pars and Mandegar Baspar Kimiya Company:
Jahan Tech Rooyan Pars (Jahan Tech) and Mandegar Baspar Kimiya Company (Mandegar Baspar) are Iran-based entities involved in the procurement of proliferation-sensitive material, specifically carbon fiber, for proscribed elements of Iran’s nuclear program. Since early 2010 and as recently as 2013, Jahan Tech and Mandegar Baspar have attempted to procure high-strength carbon fiber from Asia-based suppliers, some of which is controlled for export pursuant to the Nuclear Suppliers Group (NSG) Guidelines and is proscribed for export to Iran by UNSCR 1737. Among other uses, high-strength carbon fiber is suitable for the production of advanced centrifuge rotors, as well as for forming components that increase the range and payload capability of ballistic missiles. The Panel of Experts established pursuant to UNSCR 1929 (2010) noted in its May 2014 report that Iran has been attempting to procure high-grade carbon fiber for use in manufacturing of some of its centrifuge rotors. The Washington Post in 2013 documented Jahan Tech’s efforts to acquire 100,000 highly specialized magnets used in centrifuge machines – a quantity that could outfit 50,000 new centrifuges. Iranian private sector firms should heed the risks incurred by conducting business with those who support Iran’s proscribed nuclear activities and choose to focus their activities on legitimate international commerce. The United States will continue to investigate additional companies making material contributions to the Iranian government’s proliferation of weapons of mass destruction or their means of delivery
Actions Targeting Persons Engaging with the Energy or Petrochemical Sectors of Iran
Also today, the Department of State imposed sanctions pursuant to the Iran Freedom and Counter-Proliferation Act of 2012 (IFCA) on Goldentex FZE, a UAE-based company involved in providing support to Iran’s shipping sector.
IFCA mandates, among other things, the imposition of sanctions on individuals and companies determined to have knowingly transferred to or from Iran significant goods or services used in connection with the energy or shipping sector of Iran, including the National Iranian Oil Company or the National Iranian Tanker Company (NITC).
In addition, the Department of State took action to impose sanctions on Italy-based Dettin SpA pursuant to the Iran Sanctions Act of 1996 (ISA), as amended by the Iran Threat Reduction and Syria Human Rights Act of 2012 (TRA). According to information available to the United States, Dettin SpA knowingly providing Iran’s petrochemical industry with goods and support whose value exceeded $250,000. Although the JPOA authorizes Iran to export petrochemicals, providing goods, services, and support for the maintenance or expansion of Iran’s domestic production of petrochemicals is not within the scope of sanctions relief under the JPOA and, therefore, remains sanctionable.
These sanctions send a clear message that the United States will act resolutely against attempts to circumvent U.S. sanctions. Individuals and companies providing support to illicit Iranian nuclear activities program or engaged in assisting Iran’s efforts to evade U.S. sanctions will face serious consequences.
Identifier Information
Name: The Organization of Defensive Innovation and Research
AKA: SPND
Address: Negarestan 3, off of Pasdaran Street, Tehran, Iran
Name: The Nuclear Science and Technology Research Institute
AKA: NSTRI
AKA: Research Institute of Nuclear Science and Technology
AKA: Nuclear Science and Technology Research Institute
AKA: Nuclear Science and Technology Research Center
Address: P.O. Box 11365-3486, Tehran, Iran
Address: P.O. Box 14399-51113, Tehran, Iran
Address: North Karegar Ave., P.O. Box 14399/51113, Tehran, Iran
Address: Moazzen Blvd. Rajaee Shahr, Karaj, Iran, P.O. Box 31485-498
Address: End of Karegare Shomali Street, P.O. Box 11365-3486, Tehran, Iran
Name: Jahan Tech Rooyan Pars
AKA: Jahan Tech Rooyan Pars Company
AKA: Jahan Tech
Address: B18, Takhte-e-Jamshid Building, Science and Technology Park, Shiraz, Iran
Name: Mandegar Baspar Kimiya Company
AKA: Mandegar Baspar Fajr Asia
AKA: Bardiya Tejarat Javid
Address: No. 510, 5th Floor, Saddi Trading Building, South SAA DI Street, Tehran, Iran
Name: Goldentex FZE
Address: M05 Bin Thani BLD, Sheikh Khalifah Bin Zayed Road, Burdubai, Dubai, United Arab Emirates
Name: Dettin SpA
Address: Via Campania, 9 – 36015 Schio (4543N 11221E) Italy
EXPORT-IMPORT BANK TOUTS PARTNERSHIP WITH FLORIDA AND WASHINGTON STATE TO HELP SMALL BUSINESSES
FROM: U.S. EXPORT-IMPORT BANK
Small Business Success of the Week: Florida and Washington State Partner with Export-Import Bank US to Help Local Businesses Grow
WASHINGTON, D.C. – Two state agencies looking to help their local businesses grow joined forces with the Export-Import Bank of the United States (Ex-Im Bank) through the Bank’s City/State Partner program, to better prepare their small businesses to create jobs through exports. The Florida Export Finance Corporation (FEFC) and the Export Finance Assistance Center of Washington State are working with small businesses in their states to determine which Ex-Im products would be best for their needs.
“Our strategic partnerships with regional economic development organizations, private lenders, and advisors are opening new doors for small businesses in communities across America,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “The goal of the City/State Partners program is to ensure that more small businesses and entrepreneurs know how Ex-Im Bank products can equip local companies to grow their sales and add U.S. jobs through exports.”
In Florida, Florida Export Finance Corporation staff worked with Gus Vidauretta, co-founder of Top Secret Nutrition, to develop financial solutions for his small business. Working together, they identified Ex-Im Bank’s Global Credit Express program as a great way to expand the reach of Top Secret Nutrition. Global Credit Express enables exporters to set up a revolving line of credit in amounts up to $500,000, at no cost to taxpayers. Gus and his team subsequently created three new, dedicated product lines for markets in the UK, Italy, and Brazil.
“Ex-Im has been a key partner in several ways,” said Vidauretta. “Top Secret Nutrition first worked with the insurance side of Ex-Im. Our ability to export and our level of security were both enhanced by the fact that our exports were insured. Later we applied and received a loan from Ex-Im to create inventory for export. Ex-Im is an incredible asset and partner to businesses like mine.”
In Washington State, Whooshh Innovations, developers of an innovative product for transporting live fish and delicate fruit needed capital to complete orders from overseas buyers. With a slim history of financing export sales, rising orders created a funding gap between the capital Whooshh needed to produce its machinery, and what commercial banks were willing to put at risk. Doug Kemper, advising on behalf of Export Finance Assistance Center, matched his client’s need with the Bank’s Global Credit Express program. The loan enabled Whooshh to increase its production capacity, in order to fulfill the foreign buyers’ demand. Combining the financing with Ex-Im export credit insurance gave Whooshh flexibility to offer open account credit terms to make their export sales more competitive.
Kemper called Ex-Im’s Global Credit Express the perfect fit for Whooshh Innovations, which is “now on the cusp of some significant international sales.” Kemper’s office and other strategic partnerships plan to repeat that success. “This is a very unusual product that was created by [Ex-Im] Bank to fulfill a need that is definitely in the marketplace,” he said. “The relationship with Ex-Im is excellent. GCE is very creative, and the support and backing by the Bank – the willingness to help – is certainly there.”
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