CDEL: Public Enemy #1
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DOD Rule Guides Clearances With Foreign-Owned Contractors
By Zachary Zagger
Law360, New York (April 8, 2014, 3:31 PM EDT) -- The U.S. Department of Defense issued an interim final rule Tuesday establishing requirements related to the National Industrial Security Program and clearance guidance to keep classified information out of the wrong hands when a contractor has foreign ownership, control or influence.
The interim rule, scheduled to be published in the Federal Register on Wednesday, provides measures for determining whether a contractor has foreign ownership, control or influence, or FOCI, and guidance on providing facility security clearances for those contractors in order to safeguard classified information, according to the rule notice.
The DOD said that without this rule, the department and its components “face an elevated risk of unauthorized disclosure of classified information to foreign interests resulting in potential economic losses or damage to U.S. national security.”
“If the U.S. company has a foreign owner and is awarded a contract requiring access to classified information, these procedures provide actions for the [U.S. government] to take to keep that foreign owner from having direct authority over the disclosure of and access to classified information,” the notice said.
Under the rule, if a U.S. contractor has FOCI, then trustees, outside directors or proxy holders would be required to provide business management of the U.S. contractor.
The DOD does not currently have uniform procedures to assess risks and potential adverse impacts from companies with FOCI seeking facility security clearances on performance of contracts requiring access to classified information, according to the notice.
The new rule should provide uniform procedures for the DOD to determine and assess risks with changes to the FOCI of contractors, which is reported annually, the notice said.
“This proposed rule provides the baseline requirements for the [government] to evaluate the foreign owner's rights and determine whether those rights can be mitigated to effectively protect classified information and preclude its unauthorized disclosure,” the notice said. “Depending upon what a foreign-owned U.S. company is working on, unauthorized disclosure of classified information could have an adverse impact on national security.”
The DOD said it would be accepting comments on the interim rule for 60 days after its publication in the Federal Register.
The interim rule comes as lawmakers in Congress have been moving to increase scrutiny for government clearances. The Security Clearance Oversight and Reform, or SCORE, Act, introduced in July, would sanction contractors found to have engaged in improper or fraudulent conduct in performing security clearance background investigations.
Last month, Defense Secretary Chuck Hagel said the DOD will improve security clearance procedures for its employees and contractors in the wake of September's deadly Washington Navy Yard shooting, after newly released reviews found a number of "troubling" shortfalls.
--Additional reporting by Daniel Wilson. Editing by Christine Chun.
https://www.law360.com/articles/526142/dod-rule-guides-clearances-with-foreign-owned-contractors
People don't trust that he's really gone yet. He had dropped off for about 5 minutes earlier, waited for the bid to go up and jumped back on.
We'll see.
Anyone have theories as to why he is converting now?
Agreed. Games being played...
My bad, I was looking at table 2 box 2.
I believe a portion of those 11.50s were what the form 4 was converting.
Could be, but every order I've placed through TD has routed through CDEL lately. Might just be retail...
I personally think we would have started to see a bounce and reversal off the middle BB around 32 if it weren't for the conversions.
Not sure what you're expecting... During the last run, the daily volume peaked at 2.5M. Did 2M yesterday. Looks like we're on par for 'high volume run days'. Especially now that the float is going to tighter hands.
Happy to say I grabbed an opener today. Missed the run the first time around, not going to miss it again!
The DD here is incredible!! Where's the downside? Waiting to find the smoking gun...
The spread on this is just ridiculous!
And... red to green!
Yes! The recent tier change and even more recent attorney letter speaks to the catalysts coming... imo
I'm sticking it out, as there is no way it's going down from here when we go current.
But the flip side to that is the 400 share whacks to try and create panic. It's all games right now...
032 x 037... 17% spread!
Looking really good here. This is going to really take off once they go current. Took a starter at 03 this morn.
This is the icing right here... :)
They cannot raise the AS until they become current... They cannot dilute unless they raise the AS... Simple logic.
UHLN
Agreed! Just preempting the 'sky is falling' naysayers. :)
It's coming... Right now I'm happy with confirmation they are still working on it.
I will say, there was about a 2 hour lag time between me asking if it is true, and them responding they are in negotiations.
You want different answers? Fell free to ask yourself :)
Asked Charlie Graingers specifically how the merger is coming along. Official stance as of 10 mins ago.
http://imgur.com/TXytloI
1:28PM
Hi Charlie Graingers! I had seen a post on this page a few days ago indicating negotiations had been met for a merger between Charlie Graingers and UHLN, but then the post was removed... Was there a reason it was removed? Is it still moving forward?
Thanks!!
Thanks for messaging us. We try to be as responsive as possible. We'll get back to you soon.
Not to my knowledge
There was never a post made about UHLN acquiring Charlie Grangers. Maybe it was on a different page you had seen this, but CG has not been acquired as far as I know
Oh, I see.
Rising Pheonix Group released a PR stating they were acquiring Charlie Grangers
www.otcmarkets.com/stock/UHLN/news
Is this not true?
6:16PM
Negotiations are still in progress. Thank you for interest in our company
Thank you very much for following up. Have a nice evening.
I emailed RPG to see if there was a reason the post was pulled... Also reaching out to GG
Wonder if they were catching heat from the Co for the FB PR post and comments... looks like they took it down.
LAFC is a mergers and acquisitions MM, hopefully in play for Big Red.
Just over a whole month, I see...
Agreed! LAFC has been on the bid for weeks and been putting large fake walls on the ask. Intuition tells me they're are looking to take a good size position... but for what.... hmmm
Absolutely agree, we are trading at a fraction of what we should be right now. The market will catch up when news of Big Red hits or the Q comes out!
Curious, how are you guys using emojis on here. Mine show in the display preview of the message, but turn into question marks when posted...
UHLN
Picked up a few more at 0063. If she blows, great! if she dips, great! (I'll get even more.)
Just waitin' on news over here... She's a comin'...
And we're off...
Yep! Seems like extremely quiet loading for the potential breakout come news of the merger...
GL to you too, buddy, and all on the board!
Another green day!!
Congrats everyone, great day here!
lol Looks like ASCM wants out before the news too...
jumping bids
Round 2!! :)
I got a few but looking for more.
Come on EOD beer whackers! lol (only sort of kidding...)
That's what I've been waiting for all day! lol
UHLN
That would be great if it weren't 3000 miles away. Oh wait.. aren't they going national soon??
No need to concearn yourself. :) We got this.