Joining us now, former Texas Congressman Colin Olred. He is currently running for US Senate. All right.Um, lots of stuff going on in Texas. What are you running on. >> Yeah.Well, Katie, I think you're right to note that what we should be focused on in this special session is uh disaster recovery and and relief and preparation for uh the next disaster. and what they're doing uh as somebody who was a voting rights lawyer before I ever ran for Congress uh is the most naked naked and blatant power grab and sile ...

And Congressman Moscowitz, let me be the first to wish you happy summer vacation. Uh because you guys are going home a day early, uh later at 3:00, I believe, is the end. Uh thanks to the decision from House Speaker Johnson yesterday, widely perceived so he would not have to deal with the Epstein files and calls for including from some Republicans uh to release them.So please give us in your estimation the state of play today in the House of Representatives. Well, good morning. Thanks for having me.It's not ...

FEMA Response & Challenges - FEMA provides immediate assistance of a one-time payment of $770 for serious needs like food, water, diapers, or fuel after a catastrophe [1] - Long-term assistance from FEMA is a complicated process, especially concerning flood insurance coverage [2] - Claim processing through FEMA's National Flood Insurance Program can take up to eight weeks [3] - FEMA has faced scrutiny for its handling of past disasters, with some areas remaining in disarray months later [4] - There are suggestions to restructure FEMA, potentially giving more power to state and local authorities [6] - Secretary of Homeland Security reported over 700 FEMA staffers and volunteers were on the ground in the flood zone across six counties in Texas [10] - FEMA, along with Texas Emergency Management and the Small Business Administration, opened a disaster recovery center to assist individuals and small businesses [11] - FEMA requires individuals to first exhaust their own homeowners or renters insurance before applying for individual assistance [12] Community & Private Efforts - Over $3 million was raised through GoFundMes, and tens of millions more were donated from businesses [7] - Communities are stepping up to help those affected, especially those without flood insurance [7][8] Insurance Considerations - Few people, especially in inland communities, have flood insurance [2] - Individuals must file claims with their insurance companies and exhaust all other options before applying for FEMA individual assistance [3]

Natural Disaster Preparedness & Response - Texas legislature is expected to revisit a $500 million package for early detection and warning systems following natural disasters [1][2][4] - Texas has experienced more federal disaster declarations since 1980 than any other state in America, ranging from flash floods to hurricanes [2] - The speaker advocates for proactive preparation and infrastructure development to mitigate the impact of natural disasters, arguing it's more cost-effective than reactive responses [7][8] - The speaker mentioned the need for better adaptation and mitigation strategies in response to a changing environment [4] Recovery & Federal Assistance - Debris cleanup from the Guadalupe River disaster is estimated to take several months, if not years, potentially inundating all landfills in Texas [9][10] - There are still over a hundred people missing a week after the event, highlighting the ongoing search and rescue efforts [12] - The speaker advocates for reorganizing FEMA and streamlining disaster recovery processes by consolidating federal agencies and cutting bureaucratic red tape [14][15] - Rebuilding a home after Hurricane Harvey required over 16 permits, suggesting the need for block grants to states, counties, and cities to expedite the recovery process [16] Infrastructure & Mitigation Examples - The speaker advocated for the largest storm surge barrier in American history [5] - New Orleans successfully implemented swinging levees after Katrina, protecting the city from Category 3+ storms [5] - The Blanco River Authority allocated funds for an early detection system after the Wimberley storms in 2016 [4]

Core Insights - Bank of America has contributed over $3.5 million in fire relief efforts to support clients, employees, and communities affected by the January wildfires in Los Angeles [1][2]. Group 1: Financial Contributions and Support - The latest round of grants includes more than $1 million directed to local nonprofits for various recovery resources, including assistance for small businesses and families [1]. - Bank of America has focused on small business relief, allocating $400,000 to support small businesses through local Community Development Financial Institutions (CDFIs) [4]. - The bank has also provided direct grants to impacted small businesses and support to chambers of commerce and other business support entities [4]. Group 2: Recovery Efforts and Community Engagement - Bank of America has opened a temporary mobile financial center in response to the destruction of two of its financial centers due to the fires and is committed to rebuilding permanent centers [5]. - The company has successfully reunited over 2,000 clients with their safe deposit box possessions from the destroyed locations [5]. - Bank of America is collaborating with government officials to address insurance challenges and rebuilding needs for impacted homeowners and communities [6]. Group 3: Leadership and Strategic Focus - The recovery efforts are led by Bank of America Business Banking president Raul A. Anaya, who has been appointed to focus on these initiatives full-time [2][3]. - The bank aims to leverage its expertise and connections to assist in the rebuilding process for the Los Angeles community [3].

Core Points - Southern California Gas Co. (SoCalGas) has made a $75,000 donation to support small businesses in Altadena affected by the Eaton Fire [1][2] - The funds will assist local businesses in covering essential expenses such as relocation, equipment replacement, and operational restart costs [2][3] - The Pasadena Chamber of Commerce Foundation (PCCF) will manage the grant applications and distribution based on need and potential impact [3][4] Company Contributions - SoCalGas previously contributed $400,000 to the YMCA of Metropolitan Los Angeles to aid in the response to the Eaton Fire, providing various support services to displaced families and first responders [4] - The company emphasizes its commitment to the local economy and the resilience of small businesses during recovery efforts [4][5] Community Impact - The Eaton Fire has significantly impacted Altadena's small business community, necessitating collaborative efforts for recovery [4] - SoCalGas aims to provide meaningful support through its partnership with the Pasadena and Altadena Chambers [4][5] - The Pasadena Chamber of Commerce Foundation focuses on workforce development, disaster recovery, and support for local businesses [6][9]

Core Viewpoint - Harmonic Inc. has expanded its collaboration with Cignal TV to modernize its media workflows, enhancing video streaming and broadcast services through its VOS360 Media Software-as-a-Service platform [1][4]. Group 1: Collaboration and Technology - The partnership aims to modernize Cignal TV's channel origination, playout, and disaster recovery workflows, leveraging Harmonic's cloud-based VOS360 platform [1][2]. - The VOS360 platform integrates various media processing functions into a single cloud-native solution, simplifying video operations and reducing infrastructure costs for Cignal TV [2][4]. - The platform supports both linear TV channels and traditional broadcast services, providing advanced capabilities for live content distribution, which enhances operational flexibility and scalability for Cignal TV [2][3]. Group 2: Disaster Recovery and Service Reliability - A key feature of the VOS360 platform is its robust disaster recovery functionality, allowing Cignal TV to shift playout operations to the cloud during disruptions, ensuring uninterrupted service [3]. - The use of Secure Reliable Transport connections enables content delivery directly from the cloud to network sites without affecting viewer experience, ensuring stable service delivery [3]. Group 3: Financial Implications - The advancements from this collaboration are expected to generate incremental demand for Harmonic's solutions, leading to higher revenues and improved financial performance [5]. - Harmonic's stock has seen a decline of 19% over the past year, contrasting with the industry's growth of 34.4%, indicating potential for recovery with the new partnership [6].

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $8.1 million, a decrease of approximately 2% compared to $8.2 million in Q1 2024, primarily due to a decrease in one-time equipment sales [17][18] - Gross profit was $2.86 million, maintaining margin stability, while adjusted EBITDA was $497,000, down from $680,000 in Q1 2024 [5][19] - Net income attributable to common shareholders was $24,000, compared to $357,000 in Q1 2024 [19] - Cash and marketable securities at the end of Q1 2025 were approximately $11.1 million, down from $12.3 million at the end of Q4 2024 [19] Business Line Data and Key Metrics Changes - Core cloud infrastructure and disaster recovery services grew 14% year over year, indicating strong performance in these segments [5] Market Data and Key Metrics Changes - The company is expanding its infrastructure footprint and partner ecosystem in the UK, which is expected to enhance its market position [10][12] Company Strategy and Development Direction - The company aims to become a global leader in cloud infrastructure services, focusing on high-margin recurring revenue and expanding its global infrastructure [13][14] - The strategy includes forming strategic partnerships to enhance service delivery and meet client needs in regulated industries [10][12] - The company is not pursuing commodity cloud workloads but is focused on delivering enterprise-grade solutions [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a disconnect between operating fundamentals and current equity valuation, emphasizing the need to unlock shareholder value [12][61] - The company is actively evaluating strategic alternatives to enhance long-term shareholder value [61] Other Important Information - The company remains debt-free, which is viewed as critical for exploring future growth opportunities [6] - The company has established approximately 10 partnerships in the UK and is training local sales teams to promote its services [22][23] Q&A Session Summary Question: Status of European Expansion - The company has invested in the UK and established a team, with expectations for revenue to start in Q4 2025 [22][24] Question: European Market Shift to Cloud Services - Management noted that there is significant migration to cloud services, with security concerns being addressed [26][28] Question: Financial Reporting and Guidance - The company plans to file its Form 10-Q today and expects annual recurring revenue to be slightly over $22 million for the year [37][38] Question: Strategic Alternatives and Valuation Disconnect - Management is considering various strategic alternatives to address the valuation disconnect and has been encouraged to provide financial guidance [50][56]