Will the National Electoral Institute (INE) be able to meet its usual high standards when organizing Mexico’s first ever judicial elections in 2025, despite a sizable cut to its budget? There are conflicting answers to that question within the INE itself. Before we get to those, let’s first look at how we got here. Almost three months ago, former president Andrés Manuel López Obrador promulgated a controversial judicial reform that set the stage for judicial elections to be held in Mexico for the first time ever in 2025. Citizens will elect a total of 881 federal judges on June 1, 2025, including nine Supreme Court justices. The INE requested funding of 40.47 billion pesos (about US $2 billion) to carry out all its activities in 2025, including the organization of the judicial elections and elections in Durango and Veracruz. The federal government proposed that that amount be allocated to the institute in the budget proposal it submitted to the lower house of Congress in November . However, this week the Chamber of Deputies — dominated by lawmakers with the ruling Morena party and its allies — voted in favor of reducing the INE’s budget by 13.47 billion pesos, down to 27 billion pesos (US $1.34 billion). The cut in percentage terms is 33.3%. INE proposed using 13.2 billion pesos for next year’s judicial elections, but was only allocated 7 billion pesos for that purpose. That means the INE will have to make do with 47% less resources than what it calculated is necessary. Ricardo Monreal, Morena’s leader in the Chamber of Deputies, said on social media that lawmakers approved “an austere and responsible budget that guarantees economic stability and confidence in Mexico.” Critics of the federal government’s judicial reform argue that the direct election of judges will politicize the judiciary, but President Claudia Sheinabum and other government officials reject claims that Mexico’s courts will lose their independence. Sheinbaum asserts that a judicial overhaul via the election of judges is necessary to eliminate corruption and other ills from Mexico’s justice system. Before the Chamber of Deputies approved the reduction to the INE’s 2025 budget, the electoral institute issued a statement in which it said that carrying out the judicial elections to “the same standards of quality to which Mexican citizens are accustomed requires the approval of the budget as it was requested.” Issued on Wednesday, the statement was titled “the INE is confident that the budget requested from the Chamber of Deputies will be approved.” However, as noted above, that was not the case. In its statement, the INE said that if the Chamber of Deputies approved “the reduction proposed by the Budget and Public Accounts Committee,” it would face an “enormous challenge” in organizing and carrying out the 2025 judicial elections. To underscore the need for it to receive all the funding it requested, the INE noted that the number of federal judges to be elected next year — 881 — is higher than the number of federal representatives elected at the 2024 elections. A total of 629 federal representatives were elected on June 2: President Claudia Sheinbaum, 500 deputies and 128 senators. In a radio interview on Thursday, INE president Guadalupe Taddei said that the electoral institute will guarantee that high-quality and trustworthy judicial elections are held next year even though it won’t have the funds it requested. “We can’t lower the quality [of the elections],” she told Radio Fórmula. Taddei said that the INE will “have to take this [budget] cut with all the professionalism in the world.” She indicated that the INE is not happy with the cut, but described it as a “fait accompli.” The INE’s first woman president — elected to the position last year — said that the electoral institute will have to “quickly” look at ways it can reduce costs given that it will have less funding than it anticipated and hoped for. In subsequent remarks on Thursday, Taddei described the budget cut as “extremely big,” but once again stressed that it won’t “diminish the quality of the [judicial] electoral process.” However, she did say that the INE “is obliged to reconsider the entire operational structure” for the judicial elections. Instead of setting up 172,000 (often small) polling stations known as casillas , the INE is looking at the possibility of installing around 80,000 larger “voting centers,” Taddei said. Norma Irene de la Cruz Magaña, one of 11 electoral councilors including Taddei, said that many citizens will have to travel five or ten blocks to vote in the judicial elections rather than just one. “But we’re not going to reduce the quality [of the elections] or take shortcuts,” she said. “We’re going to guarantee that every voter has a ballot,” de la Cruz said. Claudia Zavala, another electoral councilor, said in a radio interview that the budget cut “will affect the right of citizens to have an electoral process with institutional guarantees.” She also highlighted that many citizens will have to travel longer distances to cast their votes. Zavala said that the INE will do its best with the money it is allocated but added that doesn’t guarantee it will be able to organize the judicial elections with the usual “quality standards and guarantees” as ensuring such things “requires resources.” For his part, electoral councilor Jaime Rivera said in an interview that the budget cut will affect the INE’s capacity to organize elections with its usual “efficiency, ... transparency and reliability in the results.” He said that the funding amount the INE requested for the judicial elections was the “result of serious and objective analysis,” rather than a figure it came up with on a “whim.” Rivera also said that the organization of the judicial elections would be “considerably more complicated” than the organization of the recent federal elections. There will be significantly more candidates , vying for positions in various courts. “We have to say it with complete clarity — with such a severe reduction in the resources allocated, it is impossible to maintain the same quality in the organization of elections,” Rivera said. With reports from El País , El Financiero , Radio Fórmula , López-Dóriga Digital , La Jornada and La Crónica
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Garden enemy Trae Young out to shoot Hawks past Knicks in NBA CupANDOVER, Mass. , Dec. 2, 2024 /PRNewswire/ -- TransMedics Group, Inc. ("TransMedics") (Nasdaq: TMDX), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, today announced the appointment of Mr. Gerardo Hernandez as the Company's Chief Financial Officer, effective December 2, 2024 . In this role, Mr. Hernandez joins the TransMedics executive leadership team, succeeding Mr. Stephen Gordon . To enable a smooth transition, Mr. Gordon will remain a non-executive employee of the Company until March 31, 2025 , before serving as a non-employee senior advisor to the Company focusing on national transplant stakeholder engagement until March 31, 2026 . TransMedics also updated its 2024 financial outlook. Dr. Waleed Hassanein , Mr. Gerardo Hernandez and Mr. Stephen Gordon will attend the upcoming Piper Sandler Conference on December 3, 2024 , the TransMedics Investor & Analyst Day on December 10, 2024 , as well as the J.P. Morgan Healthcare Conference in January 2025 . Mr. Hernandez is an accomplished finance leader with over 25 years of experience across the healthcare and consumer packaged goods (CPG) sectors. He most recently served as Vice President Finance, Head of Corporate Financial Planning and Analysis at Alnylam Pharmaceuticals, a biopharmaceutical company focused on RNAi therapeutics. In this role, Mr. Hernandez led a global team as the company scaled rapidly. Prior to his role at Alnylam, Mr. Hernandez spent nearly a decade at Shire, where he rose through the organization, eventually leading corporate FP&A. During his tenure, Shire was acquired by Takeda in a $62 billion transaction, after which he was instrumental in the integration effort. Mr. Hernandez began his career at Unilever where he held several finance roles of increasing responsibility before joining Shire in 2010. Mr. Hernandez holds a Bachelor of Science degree in Finance from the University of Wisconsin , La Crosse and an MBA in Strategy and Economics from Fundação Getulio Vargas , Sao Paulo, Brazil . "Stephen has been an exceptional partner to me as a member of the TransMedics leadership team for nearly a decade. During his tenure we transitioned the Company from a clinical stage organization to a high growth, publicly traded commercial business," said Waleed Hassanein , M.D., President and Chief Executive Officer. "On behalf of the entire management team and the Board, I want to thank Stephen for his countless contributions to our business that will have lasting benefits for the Company. I am grateful for Stephen's dedication and efforts to advance our corporate strategy while delivering considerable shareholder value, and I look forward to his continued partnership to affect a smooth transition as we start our next chapter at TransMedics." "I am delighted to welcome Gerardo to the TransMedics leadership team as our new Chief Financial Officer," added Dr. Hassanein. "His proven record over two decades of leadership across FP&A functions within high-growth, complex global organizations makes him an ideal addition to our team. I am looking forward to partnering with Gerardo as we continue to deliver significant long-term corporate growth and shareholder value." "I am thrilled to join TransMedics as Chief Financial Officer," said Mr. Hernandez. "I look forward to working with the entire leadership team to expand access to the Company's unparalleled products and services in the organ transplant field while enhancing operational efficiency and delivering lasting value to both our shareholders and the patients we serve." Dr. Hassanein concluded, "As we enter the final weeks of the fourth quarter, we are also updating our financial outlook for the full year 2024. Our updated guidance reflects our continued expectation for considerable year-over-year revenue growth. We look forward to providing additional context at our upcoming Investor & Analyst Day." 2024 Financial Outlook TransMedics now expects revenue for the full year 2024 to be in the range of $428 million to $432 million, which represents 77% to 79% growth compared to the Company's prior year revenue. Piper Sandler 36th Annual Healthcare Conference Members of the TransMedics management team will participate in a fireside chat at the upcoming Piper Sandler 36th Annual Healthcare Conference at the Lotte New York Palace. The fireside chat will take place on Tuesday, December 3, 2024 , at 4:00 p.m. Eastern Time . A live and archived webcast of the fireside chat will be available on the "Investors" section of the TransMedics website at https://investors.transmedics.com . The Company's standard investor presentation is also available through this link. TransMedics Investor & Analyst Day Details TransMedics will discuss the transition and updated financial outlook, as well as the Company's growth strategy, clinical pipeline, and operations, in greater detail at its Investor & Analyst Day in New York City on Tuesday, December 10, 2024 , at 10:00 a.m. Eastern Time . A live and archived webcast of presentations and Q&A sessions will be available on the "Investors" section of the TransMedics website at https://investors.transmedics.com . Please note management will only take questions from the live audience during the question-and-answer session following formal presentations. About TransMedics Group, Inc. TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts , the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure. Forward-Looking Statements This press release contains forward-looking statements with respect to, among other things, a leadership transition and our full-year guidance. For this purpose, all statements other than statements of historical facts are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "could," "target," "predict," "seek" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties. Our management cannot predict all risks, nor can we assess the impact of all factors or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in or implied by any forward-looking statements we may make. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated in or implied by the forward-looking statements. Some of the key factors that could cause actual results to differ include: our ability to maintain profitability on a sustained basis; our ability to attract, train and retain key personnel; our existing and any future indebtedness, including our ability to comply with affirmative and negative covenants under our credit agreement to which we will remain subject until maturity; the fluctuation of our financial results from quarter to quarter; our need to raise additional funding and our ability to obtain it on favorable terms, or at all; our ability to use net operating losses and research and development credit carryforwards; our dependence on the success of the Organ Care System or OCS; our ability to expand access to the OCS through our National OCS Program or NOP; our ability to scale our manufacturing and sterilization capabilities to meet increasing demand for our products; the rate and degree of market acceptance of the OCS; our ability to educate patients, surgeons, transplant centers and private and public payors on the benefits offered by the OCS; our ability to improve the OCS platform and develop the next generation of the OCS products; our dependence on a limited number of customers for a significant portion of our revenue; our ability to maintain regulatory approvals or clearances for our OCS products in the United States , the European Union, and other select jurisdictions worldwide; our ability to adequately respond to the Food and Drug Administration or FDA, or other competent authorities, follow-up inquiries in a timely manner; the performance of our third-party suppliers and manufacturers; our use of third parties to transport donor organs and medical personnel for our NOP and our ability to maintain and grow our logistics capabilities to support our NOP and reduce dependence on third party transportation, including by means of attracting, training and retaining pilots, and the acquisition, maintenance or replacement of fixed-wing aircraft for our aviation transportation services or other acquisitions, joint ventures or strategic investments; our ability to maintain Federal Aviation Administration or FAA or other regulatory licenses or approvals for our aircraft transportation services; price increases of the components of our products and maintenance, parts and fuel for our aircraft; the timing or results of post-approval studies and any clinical trials for the OCS; our manufacturing, sales, marketing and clinical support capabilities and strategy; attacks against our information technology infrastructure; the economic, political and other risks associated with our foreign operations; our ability to protect, defend, maintain and enforce our intellectual property rights relating to the OCS and avoid allegations that our products infringe, misappropriate or otherwise violate the intellectual property rights of third parties; the pricing of the OCS, as well as the reimbursement coverage for the OCS in the United States and internationally; regulatory developments in the United States, European Union and other jurisdictions; the extent and success of competing products or procedures that are or may become available; our ability to service our 1.50% convertible senior notes, due 2028; the impact of any product recalls or improper use of our products; our estimates regarding revenues, expenses and needs for additional financing; and other factors that may be described in our filings with the Securities and Exchange Commission (the "SEC"). Additional information will be made available in our annual and quarterly reports and other filings that we make with the SEC. The forward-looking statements in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and we are not able to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law. Investor Contact: Brian Johnston Laine Morgan 332-895-3222 Investors@transmedics.com View original content to download multimedia: https://www.prnewswire.com/news-releases/transmedics-appoints-gerardo-hernandez-as-chief-financial-officer-and-provides-updated-2024-financial-outlook-302320060.html SOURCE TransMedics Group, Inc.
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OpenAI's legal battle with Elon Musk reveals internal turmoil over avoiding AI 'dictatorship'RICHARDSON, TX / ACCESSWIRE / December 10, 2024 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announced today it has been awarded a new contract for Laser Filter Units and Window Assemblies supporting Night Vision devices utilized by the U.S. Armed Forces. The order value is $2.0 million with deliveries covering March 2025 through February 2026. "The AOC team is pleased to continue our support of optical assemblies supporting various Night Vision Devices. AOC has positioned itself as a key supplier of laser protection filters and assemblies supporting the primary suppliers of Night Vision equipment to the U.S. military. We have recently added critical infrastructure to ensure we can continue to meet the growing demand for specialized laser filters and other coated optics" stated Bill Bates, General Manager of Applied Optics Center. With this new order, the current Optex backlog is in excess of $42million. ABOUT OPTEX SYSTEMS Optex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2015 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com . Safe Harbor Statement This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein. You can identify these statements by the use of the words "may," "will," "could," "should," "would," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "forecast," "probable," and similar expressions. These forward-looking statements represent our expectations, beliefs, intentions or strategies concerning future events, including, but not limited to, any statements regarding growth strategy; product and development programs; financial performance and financial condition (including revenue, net income, profit margins and working capital); orders and backlog; the estimated value of IDIQ contracts; expected timing of contract deliveries to customers and corresponding revenue recognition; increases in the cost of materials and labor; costs remaining to fulfill contracts; contract loss reserves; labor shortages; follow-on orders; supply chain challenges; the continuation of historical trends; the sufficiency of our cash balances for future liquidity and capital resource needs; the expected impact of changes in accounting policies on our results of operations, financial condition or cash flows; anticipated problems and our plans for future operations; and the economy in general or the future of the defense industry. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs and military spending, the timing of such funding, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in the U.S. Government's interpretation of federal procurement rules and regulations, changes in spending due to policy changes in any new federal presidential administration, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, changes in the market for microcap stocks regardless of growth and value and various other factors beyond our control. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties. Contact: IR@optexsys.com (972) 764-5718 SOURCE: Optex Systems Holdings, Inc. View the original on accesswire.com Copyright 2024 ACCESSWIRE. All Rights Reserved.
MEXICO CITY (AP) — Over 18,000 people in Mexico have registered online to run for Supreme Court seats and federal judgeships in the country's contentious new selection process , but a random drawing in the end will determine who gets on the ballot, officials said Monday. The ruling party pushed through a constitutional reform in September to make all federal judges stand for election, replacing the system where court employees and lawyers mainly move up through the ranks. Current court employees and their supporters have staged dozens of demonstrations against the reforms, calling them part of a ruling-party campaign to weaken checks and balances and eliminate independent regulatory and oversight bodies. Now, candidates for Supreme Court seats and federal judgeships need only a law degree, a grade point average of 3.2, “five years of professional experience” and five letters of recommendation from neighbors or friends. That, and some luck in the final drawing. Officials rejected criticism that has called the process rushed or amateurish for the often highly technical posts that can hear cases including intellectual property, organized crime and Constitutional law. “The results have been spectacular,” said Arturo Zaldivar, a top advisor to President Claudia Sheinbaum. According to the plan, evaluation committees will have just over a month to review thousands of resumes and whittle the field to about 10 candidates or less for each for the 881 judgeships and nine seats on the Supreme Court. Then 1,793 names chosen at random from those selected will appear on the ballot on June 1. Critics warn that many who land on the ballot will be unknowns who perhaps have never argued a case in the courts they seek to run. “You don’t elect a doctor or a surgeon for an operation based on their popularity, you elect them based on their technical expertise, their ability, their knowledge,” said Sergio Méndez Silva, the legal coordinator for the civic group Foundation for Justice. “That also applies for a judge.” With candidates now having to run election campaigns, critics warn there's a chance drug cartels or political parties could finance them to get friendly judges onto the bench. There are also concerns that the evaluation committees deciding who makes the cut for the selection to appear on ballots may not be impartial. Most committee members were appointed by the legislative or executive branches, controlled by the ruling Morena party. Some critics argue that the current justice system, which is riddled with nepotism, corruption and a lack of accountability, needs to be changed. “We need a justice system that gives results,” said Martínez Garza, an academic and former head of the human rights commission in the northern border state of Nuevo Leon who has registered to run for a Supreme Court seat. Trials in Mexico can last for years, and the ruling party has added to the growing list of crimes for which bail is not allowed, meaning that a large percentage of the prison population is people awaiting trial.49ers look to maintain 'urgency' against rival Rams
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