October 18, 2021

News

News Network

Justice Department Requires Divestitures in Neenah Enterprises Inc.’s Acquisition of US Foundry

17 min read
<div>The Department of Justice announced today that it will require Neenah Enterprises Inc. (NEI), U.S. Holdings Inc. (U.S. Holdings), and U.S. Foundry and Manufacturing Corporation (US Foundry) to divest certain gray iron municipal castings assets in order to proceed with NEI’s proposed acquisition of substantially all of the assets of US Foundry. NEI and US Foundry are two of only three significant suppliers of gray iron municipal castings in eleven eastern and southern states. Gray iron municipal castings are customized molded iron products such as manhole covers and frames used to access subterranean areas and grates and drains used to direct water in roadway, parking, and industrial areas.</div>
The Department of Justice announced today that it will require Neenah Enterprises Inc. (NEI), U.S. Holdings Inc. (U.S. Holdings), and U.S. Foundry and Manufacturing Corporation (US Foundry) to divest certain gray iron municipal castings assets in order to proceed with NEI’s proposed acquisition of substantially all of the assets of US Foundry. NEI and US Foundry are two of only three significant suppliers of gray iron municipal castings in eleven eastern and southern states. Gray iron municipal castings are customized molded iron products such as manhole covers and frames used to access subterranean areas and grates and drains used to direct water in roadway, parking, and industrial areas.

More from: October 14, 2021

News Network

  • Greece Travel Advisory
    In Travel
    Reconsider travel to [Read More…]
  • GAO Comments on AICPA Proposed SAS – Inquiries of the Predecessor Auditor Regarding Fraud and Noncompliance With Laws and Regulations
    In U.S GAO News
    This letter provides GAO's response to the American Institute of Certified Public Accountants' (AICPA) Auditing Standards Board's (ASB) exposure draft, Proposed Statement on Auditing Standards – Inquiries of the Predecessor Auditor Regarding Fraud and Noncompliance With Laws and Regulations. GAO provides standards for performing high-quality audits of governmental organizations, programs, activities, and functions and of government assistance received by contractors, nonprofit organizations, and other nongovernmental organizations with competence, integrity, objectivity, and independence. These standards, often referred to as generally accepted government auditing standards (GAGAS), are to be followed when required by law, regulation, agreement, contract, or policy. For financial audits, GAGAS incorporates by reference the AICPA's Statements on Auditing Standards (SAS).
    [Read More…]
  • The United States Designates Houthi Militants
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • SavaSeniorCare LLC Agrees to Pay $11.2 Million to Resolve False Claims Act Allegations
    In Crime News
    SavaSeniorCare LLC and related entities (Sava), based in Georgia, have agreed to pay $11.2 million, plus additional amounts if certain financial contingencies occur, to resolve allegations that Sava violated the False Claims Act by causing its skilled nursing facilities (SNFs) to bill the Medicare program for rehabilitation therapy services that were not reasonable, necessary or skilled, and to resolve allegations that Sava billed the Medicare and Medicaid programs for grossly substandard skilled nursing services. Sava currently owns and operates SNFs across the country.
    [Read More…]
  • Virginia Man Pleads Guilty to Enticement, Child Pornography Charges
    In Crime News
    A Virginia man who used an online chat website to engage in sexually explicit conversations with a 12-year-old minor female and later induced the victim to engage in sexually explicit behavior over video chat, pleaded guilty today in U.S. District Court in the Western District of Virginia to a pair of federal charges, announced Acting Assistant Attorney General Brian C. Rabbitt of the Justice Department’s Criminal Division and U.S. Attorney Thomas T. Cullen for the Western District of Virginia.
    [Read More…]
  • Federal Prison Industries: Actions Needed to Evaluate Program Effectiveness
    In U.S GAO News
    The First Step Act of 2018 made new, nonfederal markets and potential buyers available to Federal Prison Industries (FPI), a government corporation organized within the Bureau of Prisons (BOP); however, various challenges could limit FPI's ability to sell to customers in these markets. FPI makes apparel, personal protective equipment, and furniture, among other products. FPI may now sell to the District of Columbia government, including, for example, to its firefighters; nonfederal, governmental entities for use in correctional settings or in response to a disaster or emergency, such as local jails and first responders; and nonprofit organizations, such as universities. However, a lack of information makes it difficult to estimate the dollar value of these new markets. The following figure depicts the new markets made available to FPI. New Markets for Federal Prison Industries' Products under the First Step Act Data on the size of most of the new markets are very limited. For example, GAO found no existing national information to help estimate the size and scope of relevant spending by nonfederal entities on disaster relief and emergencies. Also, challenges related to state and local government operations, for example, could limit FPI's ability to sell products in the new markets made available under the First Step Act. Specifically, state-level prison industries and in-state vendors often have preferential access to many of the procurement markets now available to FPI. FPI and the private sector share some similar operating requirements, such as those related to keeping workers safe. They also face different requirements and business practices, such as those related to the legal framework, security, and costs. Available data indicate that buyers are generally satisfied with the delivery and quality of FPI products. GAO analyzed 231 performance reports on FPI in the federal government's database for contractor performance, as of August 2019. Customers rated FPI's performance in the delivery schedule and quality categories as exceptional, very good, or satisfactory on about 80 and 90 percent, respectively, of performance reports. There were too few ratings on cost to analyze them. FPI aims to assist inmates in their reentry into society by providing marketable job skills, but BOP has not reviewed FPI's impact on recidivism in over 2 decades. BOP relies on outdated studies that assessed the impact of FPI on inmates released in the 1980s. In January 2020, BOP cited a 1992 study as the basis for the Attorney General's designation of FPI as an Evidence-Based Recidivism Reduction Program under the First Step Act 0f 2018 . BOP made a plan to evaluate FPI but the plan's timeline passed and the BOP has not set a new one. Without an updated plan for evaluating FPI, BOP continues to rely on outdated evaluations of FPI and has limited information about FPI's effectiveness amidst changes to its inmate population Additionally, while BOP has reported some descriptive statistics on recidivism rates, it has not developed a goal. Without a timeline for evaluation and a goal for reducing recidivism, BOP's ability to assess the effectiveness of FPI will be limited. FPI is a government owned corporation that, as a national reentry program, manages, trains, and rehabilitates inmates through employment. FPI sells inmate-produced goods and services primarily to federal government agencies. The First Step Act of 2018 authorized FPI to sell its products to new markets. A provision in the First Step Act of 2018 required GAO to review various aspects of FPI. This report addresses (1) the potential size and scope of the additional markets made available to FPI under the First Step Act; (2) the similarities and differences in selected requirements and business practices of FPI and private sector sellers of products and services; (3) customers' satisfaction with FPI regarding quality, price, and timely delivery of its products and services; and (4) the extent to which BOP has evaluated the effectiveness of FPI and other vocational programs in reducing recidivism and the results. GAO examined recidivism studies and data, analyzed performance data, conducted fieldwork at four FPI facilities selected based on security level and type of products produced, met with industry associations, and interviewed agency officials and employed inmates. GAO is making two recommendations: (1) BOP should update its evaluation plan for FPI by setting a new timeline for evaluation and (2) BOP should set a goal to reduce recidivism. DOJ concurred with the recommendations. For more information, contact Gretta L. Goodwin at (202) 512-8777 or goodwing@gao.gov or William T. Woods at (202) 512-4841 or woodsw@gao.gov.
    [Read More…]
  • Secretary Blinken to Deliver a Foreign Policy Speech
    In Crime Control and Security News
    Office of the [Read More…]
  • United States Sanctions Russian Government Research Institution
    In Crime Control and Security News
    Michael R. Pompeo, [Read More…]
  • Vermont Man Pleads Guilty to Hiring A Person to Kidnap and Kill an Individual in a Foreign Country and Child Pornography Charges
    In Crime News
    A Vermont man pleaded guilty today to hiring a woman in Venezuela to kidnap an adult male and make a video of the man being beaten, tortured, and suffocated to death, and to conspiracy to produce child pornography and possession of child pornography.
    [Read More…]
  • Secretary Antony J. Blinken Remarks at Top of Working Breakfast With Mexican President Andrés Manuel López Obrador And Mexican Foreign Secretary Marcelo Ebrard
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • Former Louisiana Police Officer Indicted for Assaulting an Arrestee
    In Crime News
    A federal grand jury in Shreveport, Louisiana, returned an indictment charging a former Shreveport police officer with assaulting an arrestee in Caddo Parish. 
    [Read More…]
  • Military Pay: Army National Guard Personnel Mobilized to Active Duty Experienced Significant Pay Problems
    In U.S GAO News
    In light of the recent mobilizations associated with the war on terrorism and homeland security, GAO was asked to determine if controls used to pay mobilized Army Guard personnel provided assurance that such pays were accurate and timely. GAO's audit used a case study approach to focus on controls over three key areas: processes, people (human capital), and systems.The existing processes and controls used to provide pay and allowances to mobilized Army Guard personnel are so cumbersome and complex that neither DOD nor, more importantly, the mobilized Army Guard soldiers could be reasonably assured of timely and accurate payroll payments. Weaknesses in these processes and controls resulted in over- and underpayments and late active duty payments and, in some cases, largely erroneous debt assessments to mobilized Army Guard personnel. The end result of these pay problems is to severely constrain DOD's ability to provide active duty pay to these personnel, many of whom were risking their lives in combat in Iraq and Afghanistan. In addition, these pay problems have had a profound financial impact on individual soldiers and their families. For example, many soldiers and their families were required to spend considerable time, sometimes while the soldiers were deployed in remote, combat environments overseas, seeking corrections to active duty pays and allowances. The pay process, involving potentially hundreds of DOD, Army, and Army Guard organizations and thousands of personnel, was not well understood or consistently applied with respect to determining (1) the actions required to make timely, accurate pays to mobilized soldiers, and (2) the organization responsible for taking the required actions. With respect to human capital, we found weaknesses including (1) insufficient resources allocated to pay processing, (2) inadequate training related to existing policies and procedures, and (3) poor customer service. Several systems issues were also a significant factor impeding accurate and timely payroll payments to mobilized Army Guard soldiers, including (1) non-integrated systems, (2) limitations in system processing capabilities, and (3) ineffective system edits.
    [Read More…]
  • United States Announces Additional Humanitarian Assistance for the People of Yemen
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • International Finance: Treasury Has Reduced the Number of Attaches Overseas
    In U.S GAO News
    The number of financial attaches that the Department of the Treasury (Treasury) deploys overseas dropped from approximately 30 in 1981 to 7 at the beginning of fiscal year 2005. Treasury has traditionally used financial attaches to monitor and gather information on international economic and financial developments to help shape U.S. international economic policy and to promote U.S. national interests. These attaches are part of the U.S. mission overseas and are typically stationed in U.S. embassies in key countries. Since at least 1981, however, the number of financial attaches placed overseas has been declining in response to changing conditions. Due to congressional interest in these financial attaches, this report describes (1) the role of financial attaches and (2) the process Treasury uses to determine attache placement. In commenting on this report, Treasury considered our report to be fair and accurate. Both Treasury and the Department of State provided technical comments, which we incorporated where appropriate.Financial attaches represent Treasury overseas and cover economic and financial issues relevant to U.S. international economic policies and U.S. national interests, although the role and need for financial attaches have evolved. Specifically, financial attaches conduct monitoring and analysis of macroeconomic and financial issues, including those affecting the private sector. Typically, financial attaches interact with host government financial agencies such as the ministries of finance and central banks, as well as with private sector financial entities. Financial attaches typically work in conjunction with the Economic Section of the U.S. mission and usually share the information they collect with other U.S. agencies. In Afghanistan and Iraq, financial attaches are primarily involved in coordinating economic reconstruction efforts. In general, the role of attaches has evolved over time due to changing Treasury priorities, as well as factors such as technological advances in communications. To some extent, these changes have reduced the necessity for some financial attache posts overseas. Treasury has recently begun to formalize its process for determining attache placement. Previously, the placement of Treasury's attaches was accomplished through an informal process, according to Treasury officials. More recently, Treasury has taken steps to formalize its process by specifying placement criteria it will take into consideration relative to overall Treasury priorities. These criteria include whether the United States has major financial interest in a country or whether there is significant U.S. engagement in a country. However, Treasury officials stated that budget constraints have been a primary factor in determining the number of attaches in recent years. Furthermore, projected rising costs are likely to constrain the number of attaches in the future.
    [Read More…]
  • The United States Welcomes the Appointment of Staffan de Mistura as the UN Secretary General’s Personal Envoy for Western Sahara
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • Senior Administration Officials Preview of National Security Advisor Jake Sullivan and Secretary of State Antony J. Blinken’s Trip to Anchorage, Alaska
    In Crime Control and Security News
    Office of the [Read More…]
  • High-Performance Computing: NNSA Could Improve Program Management Processes for System Acquisitions
    In U.S GAO News
    What GAO Found The National Nuclear Security Administration's (NNSA) analysis of alternatives (AOA) process for its $600 million El Capitan HPC acquisition did not fully follow agency policy that states that AOA processes should be consistent with GAO best practices, where possible, and any deviations must be justified and documented. According to GAO best practices, a reliable AOA process should meet four characteristics: it should be comprehensive, well documented, unbiased, and credible. As seen in the table, the AOA process for El Capitan partially met one of these characteristics and minimally met the other three. NNSA did not justify or document the deviations from these best practices, as required by NNSA policy. GAO also found that the AOA process was conducted by the contractor that manages the El Capitan acquisition program, contrary to agency policy and guidance stating that AOAs should be conducted by an independent entity. Without following AOA best practices where possible; justifying and documenting any deviations; and ensuring AOA processes are conducted by an independent entity, as required, NNSA cannot be assured of a reliable assessment of options for meeting critical mission needs. Extent to Which the National Nuclear Security Administration (NNSA) Met the Characteristics of a Reliable Analysis of Alternatives (AOA) Process AOA characteristic GAO assessment Example of deviation Comprehensive Partially met Cost estimates are incomplete and did not follow best practices. Well documented Minimally met The alternatives' descriptions are not detailed enough for a robust analysis. Unbiased Minimally met NNSA had a predetermined solution, acquiring an HPC system, before performing the AOA process. Credible Minimally met The selection criteria appear to have been written for the preferred alternative. Source: GAO analysis of NNSA information. | GAO-21-194 GAO found that, in the second year of the El Capitan acquisition program's 5-year acquisition life cycle, NNSA has fully implemented selected key practices related to program monitoring and control. However, NNSA has only partially implemented key practices related to requirements management. Specifically, El Capitan program officials did not update and maintain acquisition program documents to include current requirements. NNSA officials stated that once the program developed its program plan early in the program's life cycle, they did not require the program to update and maintain that program plan. However, NNSA's own program management policy requires programs to update program documents throughout the duration of the program. Without updating and maintaining El Capitan program documents to include current requirements, NNSA officials may be limited in their ability to ensure that all mission requirements are met. Why GAO Did This Study NNSA is responsible for maintaining the nation's nuclear stockpile. To analyze the performance, safety, and reliability of nuclear weapons, it acquires high-performance computing (HPC) systems to conduct simulations. The latest system, El Capitan, is expected to be fully deployed by March 2024. The committee report accompanying the Energy and Water Development and Related Agencies Appropriations Act, 2019, includes a provision for GAO to review NNSA's management of its Advanced Simulation and Computing program. This report examines, among other things, (1) the extent to which NNSA's AOA process for the El Capitan acquisition met best practices and followed agency policy and guidance and (2) the extent to which NNSA is implementing selected acquisition best practices in carrying out the El Capitan acquisition program. GAO reviewed documents and interviewed NNSA officials and laboratory representatives involved in carrying out the AOA and acquisition processes.
    [Read More…]
  • The United States Imposes Sanctions on Chinese and Hong Kong Persons for Activities Related to Supporting the Islamic Republic of Iran Shipping Lines
    In Crime Control and Security News
    Michael R. Pompeo, [Read More…]
  • Fair Lending: CFPB Needs to Assess the Impact of Recent Changes to Its Fair Lending Activities
    In U.S GAO News
    What GAO Found In January 2018, the Consumer Financial Protection Bureau (CFPB) announced a reorganization of its fair lending activities that moved its Office of Fair Lending and Equal Opportunity (Fair Lending Office) from the Supervision, Enforcement, and Fair Lending Division to the Office of the Director and reallocated certain of its responsibilities (see figure). As CFPB planned and implemented the reorganization, it did not substantially incorporate key practices for agency reform efforts GAO identified in prior work—such as using employee input for planning or monitoring implementation progress and outcomes. GAO identified challenges related to the reorganization (including loss of fair lending expertise and specialized data analysts) that may have contributed to a decline in enforcement activity in 2018. However, CFPB has not assessed how well the reorganization met its goals or how it affected fair lending supervision and enforcement efforts. Collecting and analyzing information on reorganization outcomes would help CFPB determine the impact of the changes and identify actions needed to address any related challenges or unintended consequences. Key Changes in Fair Lending Responsibilities under CFPB's 2018 Reorganization As of February 2019, CFPB stopped reporting on performance goals and measures specific to fair lending supervision and enforcement—such as the number of completed examinations and the percentage of enforcement cases successfully resolved. Without these goals and measures, CFPB is limited in its ability to assess and communicate progress on its fair lending supervision and enforcement efforts, key components of CFPB's mission. CFPB has used additional Home Mortgage Disclosure Act data that some lenders have had to report since 2018 to support supervisory and enforcement activities and fair lending analyses. CFPB incorporated these new loan-level data into efforts to identify and prioritize fair lending risks and support fair lending examinations. For example, the new data points improve CFPB's ability to compare how different institutions price loans, which helps its staff identify potentially discriminatory lending practices. Why GAO Did This Study Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, CFPB is responsible for two federal fair lending laws that protect consumers from discrimination: the Equal Credit Opportunity Act and the Home Mortgage Disclosure Act. In January 2019, CFPB completed a reorganization of its fair lending activities. GAO was asked to review issues related to CFPB's oversight and enforcement of fair lending laws. This report examines how CFPB has (1) managed the reorganization of its fair lending activities, (2) monitored and reported on its fair lending performance, and (3) used Home Mortgage Disclosure Act data to support its fair lending activities. GAO reviewed CFPB documents related to its fair lending activities (such as strategic and performance reports, policies and procedures) and to the reorganization of its Fair Lending Office. GAO evaluated implementation of this reorganization against relevant key practices identified in GAO-18-427. GAO also interviewed CFPB staff.
    [Read More…]
  • Rebuilding Iraq: Status of Funding and Reconstruction Efforts
    In U.S GAO News
    Rebuilding Iraq is a U.S. national security and foreign policy priority and constitutes the largest U.S. assistance program since World War II. Billions of dollars in grants, loans, assets, and revenues from various sources have been made available or pledged to the reconstruction of Iraq. The United States, along with its coalition partners and various international organizations and donors, has embarked on a significant effort to rebuild Iraq following multiple wars and decades of neglect by the former regime. The U.S. effort to restore Iraq's basic infrastructure and essential services is important to attaining U.S. military and political objectives in Iraq and helping Iraq achieve democracy and freedom. This report provides information on (1) the funding applied to the reconstruction effort and (2) U.S. activities and progress made in the oil, power, water, and health sectors and key challenges that these sectors face.As of March 2005, the United States, Iraq, and international donors had pledged or made available more than $60 billion for security, governance, and reconstruction efforts in Iraq. The United States provided about $24 billion (for fiscal years 2003 through 2005) largely for security and reconstruction activities. Of this amount, about $18 billion had been obligated and about $9 billion disbursed. The State department has reported that since July 2004, about $4.7 billion of $18.4 billion in fiscal year 2004 funding has been realigned from large electricity and water projects to security, economic development, and smaller immediate impact projects. From May 2003 through June 2004, the Coalition Provisional Authority (CPA) controlled $23 billion in Iraqi revenues and assets, which was used primarily to fund the operations of the Iraqi government. The CPA allocated a smaller portion of these funds--about $7 billion--for relief and reconstruction projects. Finally, international donors pledged $13.6 billion over 4 years (2004 through 2007) for reconstruction activities, about $10 billion in the form of loans and $3.6 billion in the form of grants. Iraq had accessed $436 million of the available loans as of March 2005. As of the same date, donors had deposited more than $1 billion into funds for multilateral grant assistance, which disbursed about $167 million for the Iraqi elections and other activities, such as education and health projects. The U.S. reconstruction effort in Iraq has undertaken many activities in the oil, power, water, and health sectors and has made some progress, although multiple challenges confront each sector. The U.S. has completed projects in Iraq that have helped to restore basic services, such as rehabilitating oil wells and refineries, increasing electrical generation capacity, restoring water treatment plants, and reestablishing Iraqi basic health care services. However, as of May 2005, Iraq's crude oil production and overall power generation were lower than before the 2003 conflict, although power levels have increased recently; some completed water projects were not functioning as intended; and construction at hospital and clinics is under way. Reconstruction efforts continue to face challenges such as rebuilding in an insecure environment, ensuring the sustainability of completed projects, and measuring program results.
    [Read More…]
Network News © 2005 Area.Control.Network™ All rights reserved.