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Subcutaneous nivolumab (nivolumab and hyaluronidase) shows noninferiority compared to intravenous Opdivo (nivolumab) in advanced or metastatic clear cell renal cell carcinoma in CheckMate -67T trial

CheckMate -67T is the first Phase 3 trial of the subcutaneous formulation of Opdivo to evaluate and demonstrate noninferior pharmacokinetics, efficacy and safety vs. its intravenous formulation

Subcutaneous nivolumab demonstrated noninferior pharmacokinetics (co-primary endpoints) and objective response rate (key powered secondary endpoint) compared to intravenous Opdivo

Results from the Phase 3 CheckMate -67T trial will be presented in a late-breaking oral presentation at ASCO GU 2024 in the first ever disclosure for subcutaneous formulation of Opdivo

 

 

PRINCETON, N.J. — (BUSINESS WIRE) — $BMY #ASCO — Bristol Myers Squibb (NYSE: BMY) today announced the first disclosure of data from the Phase 3 CheckMate -67T trial, evaluating the subcutaneous formulation of Opdivo (nivolumab) co-formulated with Halozyme’s proprietary recombinant human hyaluronidase (rHuPH20) (herein referred to as “subcutaneous nivolumab”) compared to intravenous (IV) Opdivo in patients with advanced or metastatic clear cell renal cell carcinoma (ccRCC) who have received prior systemic therapy, demonstrating noninferiority for the co-primary endpoints of Cavgd28 (time-averaged Opdivo serum concentration over 28 days) and Cminss (trough serum concentration at steady state) compared to IV Opdivo.

 

In addition, subcutaneous nivolumab displayed noninferior objective response rate (ORR) as assessed by Blinded Independent Central Review (BICR) vs. IV Opdivo. These results will be featured in a late-breaking oral presentation (Abstract #LBA360) at the American Society of Clinical Oncology (ASCO) 2024 Genitourinary Cancers Symposium from January 25-27, 2024.

“The data from CheckMate -67T with the subcutaneous formulation of nivolumab co-formulated with recombinant human hyaluronidase represent a groundbreaking advancement in oncology research for physicians and our patients,” said Saby George, M.D., F.A.C.P., professor of Oncology and Medicine, director of Network Clinical Trials, Department of Medicine, Roswell Park Comprehensive Cancer Center.

 

“Having the option to administer immunotherapy subcutaneously could undoubtedly reduce the treatment burden that patients diagnosed with cancer currently face, as well as help maximize efficiencies within healthcare systems. As it stands, intravenous immunotherapy infusion can take precious time, which we know is an important commodity for patients and the doctors who treat them. That’s why these results indicating noninferiority with subcutaneous nivolumab have the potential to be practice-changing and to improve patients’ treatment experience with one injection that can be given in under five minutes and, in some cases, outside of the infusion center.”

 

In the CheckMate -67T trial investigating subcutaneous nivolumab (n=248) vs. IV Opdivo (n=247) in patients with advanced of metastatic ccRCC:

  • Cavgd28: Noninferiority of subcutaneous nivolumab to IV Opdivo was shown for the time-averaged serum concentration over the first 28 days, with a geometric mean ratio of 2.098 (90% Confidence Interval [CI]: 2.001 – 2.200).
  • Cminss: Noninferiority of subcutaneous nivolumab to IV Opdivo was shown for the minimum serum concentration at steady state, with a geometric mean ratio of 1.774 (90% CI: 1.633 – 1.927).
  • ORR: Noninferiority was also seen in the key powered secondary endpoint of ORR by BICR, with subcutaneous nivolumab demonstrating an ORR of 24.2% vs. 18.2% with IV Opdivo (Relative Risk Ratio [RR] 1.33; 95% CI: 0.94 to 1.87).
  • PFS: Median PFS by BICR with subcutaneous nivolumab was 7.23 months and 5.65 months with IV Opdivo.
  • Safety: The safety profile of subcutaneous nivolumab was consistent with the IV formulation. Incidence of local injection site reactions with subcutaneous nivolumab was 8.1%. Additionally, reactions were low grade and transient. Among patients treated with subcutaneous nivolumab (n=247), grade 3-4 adverse events (AEs) occurred in 35.2% of patients vs. 40.8% of patients treated with IV Opdivo (n=245). Treatment-related AEs occurred in 9.7% vs. 14.7% of patients, serious AEs in 21.1% vs. 22.9% of patients and treatment-related serious AEs in 6.5% of patients for both the subcutaneous and IV formulations.

 

“These results from the CheckMate -67T trial build on our deep scientific expertise in the use of immunotherapy in solid tumor oncology and our commitment to finding ways to help improve quality of life for patients,” said Gina Fusaro, Ph.D., vice president, global program lead, Bristol Myers Squibb.

 

“We are thrilled to present this research for the first time evaluating subcutaneous nivolumab, demonstrating noninferiority compared to intravenous Opdivo and supporting subcutaneous nivolumab as a potential new option to improve healthcare efficiency. Convenience is an important benefit of subcutaneous immunotherapy and we are excited about the potential for this treatment to reduce patient burden and provide greater flexibility to patients and health care providers. We look forward to discussing next steps for subcutaneous nivolumab across multiple tumor types with health authorities.”

 

Bristol Myers Squibb thanks the patients and investigators involved in the CheckMate -67T clinical trial.

 

About CheckMate -67T

CheckMate -67T is a Phase 3 randomized, open-label trial evaluating subcutaneous administration of Opdivo co-formulated with Halozyme’s proprietary recombinant human hyaluronidase, rHuPH20, or subcutaneous nivolumab (nivolumab and hyaluronidase) compared to intravenous Opdivo, in patients with advanced or metastatic clear cell renal cell carcinoma (ccRCC) who have received prior systemic therapy. This trial presents an opportunity to potentially bring a subcutaneous formulation of Opdivo to patients. A total of 495 patients were randomized to either subcutaneous nivolumab or intravenous Opdivo. The co-primary endpoints of the trial are time-averaged serum concentration over 28 days (Cavgd28) and trough serum concentration at steady-state (Cminss) of subcutaneous nivolumab vs. intravenous Opdivo. Objective response rate (ORR) is a key secondary endpoint.

 

About Renal Cell Carcinoma

Renal cell carcinoma (RCC) is the most common type of kidney cancer in adults, accounting for more than 431,000 new cases and 179,000 deaths worldwide each year. RCC is approximately twice as common in men as in women, with the highest rates of the disease in North America and Europe. Clear cell renal carcinoma (ccRCC) is the most common form of RCC, affecting about 7 out of 10 people with RCC. The five-year survival rate for those diagnosed with metastatic, or advanced, kidney cancer is 14% and five-year disease-free survival (DFS) rates for those with localized disease that can be resected are just over 50%.

 

Bristol Myers Squibb: Creating a Better Future for People with Cancer

Bristol Myers Squibb is inspired by a single vision — transforming patients’ lives through science. The goal of the company’s cancer research is to deliver medicines that offer each patient a better, healthier life and to make cure a possibility. Building on a legacy across a broad range of cancers that have changed survival expectations for many, Bristol Myers Squibb researchers are exploring new frontiers in personalized medicine and, through innovative digital platforms, are turning data into insights that sharpen their focus. Deep understanding of causal human biology, cutting-edge capabilities and differentiated research platforms uniquely position the company to approach cancer from every angle.

 

Cancer can have a relentless grasp on many parts of a patient’s life, and Bristol Myers Squibb is committed to taking actions to address all aspects of care, from diagnosis to survivorship. As a leader in cancer care, Bristol Myers Squibb is working to empower all people with cancer to have a better future.

 

About Opdivo

Opdivo is a programmed death-1 (PD-1) immune checkpoint inhibitor that is designed to uniquely harness the body’s own immune system to help restore anti-tumor immune response. By harnessing the body’s own immune system to fight cancer, Opdivo has become an important treatment option across multiple cancers.

 

Opdivo’s leading global development program is based on Bristol Myers Squibb’s scientific expertise in the field of Immuno-Oncology, and includes a broad range of clinical trials across all phases, including Phase 3, in a variety of tumor types. To date, the Opdivo clinical development program has treated more than 35,000 patients. The Opdivo trials have contributed to gaining a deeper understanding of the potential role of biomarkers in patient care, particularly regarding how patients may benefit from Opdivo across the continuum of PD-L1 expression.

 

In July 2014, Opdivo was the first PD-1 immune checkpoint inhibitor to receive regulatory approval anywhere in the world. Opdivo is currently approved in more than 65 countries, including the United States, the European Union, Japan and China. In September 2015, the Company’s Opdivo and Yervoy combination regimen was the first Immuno-Oncology to receive regulatory approval for the treatment of metastatic melanoma and is currently approved in more than 50 countries, including the United States and the European Union.

 

INDICATIONS

OPDIVO® (nivolumab), as a single agent, is indicated for the treatment of adult and pediatric patients 12 years of age and older with unresectable or metastatic melanoma.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adult and pediatric patients 12 years of age and older with unresectable or metastatic melanoma.

OPDIVO® is indicated for the adjuvant treatment of adult and pediatric patients 12 years and older with completely resected Stage IIB, Stage IIC, Stage III, or Stage IV melanoma.

OPDIVO® (nivolumab), in combination with platinum-doublet chemotherapy, is indicated as neoadjuvant treatment of adult patients with resectable (tumors ≥4 cm or node positive) non-small cell lung cancer (NSCLC).

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) whose tumors express PD-L1 (≥1%) as determined by an FDA-approved test, with no EGFR or ALK genomic tumor aberrations.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab) and 2 cycles of platinum-doublet chemotherapy, is indicated for the first-line treatment of adult patients with metastatic or recurrent non-small cell lung cancer (NSCLC), with no EGFR or ALK genomic tumor aberrations.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) with progression on or after platinum-based chemotherapy. Patients with EGFR or ALK genomic tumor aberrations should have disease progression on FDA-approved therapy for these aberrations prior to receiving OPDIVO.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with unresectable malignant pleural mesothelioma (MPM).

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with intermediate or poor risk advanced renal cell carcinoma (RCC).

OPDIVO® (nivolumab), in combination with cabozantinib, is indicated for the first-line treatment of adult patients with advanced renal cell carcinoma (RCC).

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with advanced renal cell carcinoma (RCC) who have received prior anti-angiogenic therapy.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with classical Hodgkin lymphoma (cHL) that has relapsed or progressed after autologous hematopoietic stem cell transplantation (HSCT) and brentuximab vedotin or after 3 or more lines of systemic therapy that includes autologous HSCT. This indication is approved under accelerated approval based on overall response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN) with disease progression on or after platinum-based therapy.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with locally advanced or metastatic urothelial carcinoma who have disease progression during or following platinum-containing chemotherapy or have disease progression within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.

OPDIVO® (nivolumab), as a single agent, is indicated for the adjuvant treatment of adult patients with urothelial carcinoma (UC) who are at high risk of recurrence after undergoing radical resection of UC.

OPDIVO® (nivolumab), as a single agent, is indicated for the treatment of adult and pediatric (12 years and older) patients with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (CRC) that has progressed following treatment with a fluoropyrimidine, oxaliplatin, and irinotecan. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adults and pediatric patients 12 years and older with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (CRC) that has progressed following treatment with a fluoropyrimidine, oxaliplatin, and irinotecan. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adult patients with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma (ESCC) after prior fluoropyrimidine- and platinum-based chemotherapy.

OPDIVO® (nivolumab) is indicated for the adjuvant treatment of completely resected esophageal or gastroesophageal junction cancer with residual pathologic disease in adult patients who have received neoadjuvant chemoradiotherapy (CRT).

OPDIVO® (nivolumab), in combination with fluoropyrimidine- and platinum-containing chemotherapy, is indicated for the first-line treatment of adult patients with unresectable advanced or metastatic esophageal squamous cell carcinoma (ESCC).

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with unresectable advanced or metastatic esophageal squamous cell carcinoma (ESCC).

OPDIVO® (nivolumab), in combination with fluoropyrimidine- and platinum- containing chemotherapy, is indicated for the treatment of adult patients with advanced or metastatic gastric cancer, gastroesophageal junction cancer, and esophageal adenocarcinoma.

 

IMPORTANT SAFETY INFORMATION

Severe and Fatal Immune-Mediated Adverse Reactions

Immune-mediated adverse reactions listed herein may not include all possible severe and fatal immune- mediated adverse reactions.

 

Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue. While immune-mediated adverse reactions usually manifest during treatment, they can also occur after discontinuation of OPDIVO or YERVOY. Early identification and management are essential to ensure safe use of OPDIVO and YERVOY. Monitor for signs and symptoms that may be clinical manifestations of underlying immune-mediated adverse reactions. Evaluate clinical chemistries including liver enzymes, creatinine, adrenocorticotropic hormone (ACTH) level, and thyroid function at baseline and periodically during treatment with OPDIVO and before each dose of YERVOY. In cases of suspected immune-mediated adverse reactions, initiate appropriate workup to exclude alternative etiologies, including infection. Institute medical management promptly, including specialty consultation as appropriate.

 

Withhold or permanently discontinue OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information). In general, if OPDIVO or YERVOY interruption or discontinuation is required, administer systemic corticosteroid therapy (1 to 2 mg/kg/day prednisone or equivalent) until improvement to Grade 1 or less. Upon improvement to Grade 1 or less, initiate corticosteroid taper and continue to taper over at least 1 month. Consider administration of other systemic immunosuppressants in patients whose immune-mediated adverse reactions are not controlled with corticosteroid therapy. Toxicity management guidelines for adverse reactions that do not necessarily require systemic steroids (e.g., endocrinopathies and dermatologic reactions) are discussed below.

 

Immune-Mediated Pneumonitis

OPDIVO and YERVOY can cause immune-mediated pneumonitis. The incidence of pneumonitis is higher in patients who have received prior thoracic radiation. In patients receiving OPDIVO monotherapy, immune- mediated pneumonitis occurred in 3.1% (61/1994) of patients, including Grade 4 (<0.1%), Grade 3 (0.9%), and Grade 2 (2.1%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune- mediated pneumonitis occurred in 7% (31/456) of patients, including Grade 4 (0.2%), Grade 3 (2.0%), and Grade 2 (4.4%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune- mediated pneumonitis occurred in 3.9% (26/666) of patients, including Grade 3 (1.4%) and Grade 2 (2.6%). In NSCLC patients receiving OPDIVO 3 mg/kg every 2 weeks with YERVOY 1 mg/kg every 6 weeks, immune- mediated pneumonitis occurred in 9% (50/576) of patients, including Grade 4 (0.5%), Grade 3 (3.5%), and Grade 2 (4.0%). Four patients (0.7%) died due to pneumonitis.

 

In Checkmate 205 and 039, pneumonitis, including interstitial lung disease, occurred in 6.0% (16/266) of patients receiving OPDIVO. Immune-mediated pneumonitis occurred in 4.9% (13/266) of patients receiving OPDIVO, including Grade 3 (n=1) and Grade 2 (n=12).

 

Immune-Mediated Colitis

OPDIVO and YERVOY can cause immune-mediated colitis, which may be fatal. A common symptom included in the definition of colitis was diarrhea. Cytomegalovirus (CMV) infection/reactivation has been reported in patients with corticosteroid-refractory immune-mediated colitis. In cases of corticosteroid-refractory colitis, consider repeating infectious workup to exclude alternative etiologies. In patients receiving OPDIVO monotherapy, immune-mediated colitis occurred in 2.9% (58/1994) of patients, including Grade 3 (1.7%) and Grade 2 (1%).

 

In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated colitis occurred in 25% (115/456) of patients, including Grade 4 (0.4%), Grade 3 (14%) and Grade 2 (8%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated colitis occurred in 9% (60/666) of patients, including Grade 3 (4.4%) and Grade 2 (3.7%).

 

Immune-Mediated Hepatitis and Hepatotoxicity

OPDIVO and YERVOY can cause immune-mediated hepatitis. In patients receiving OPDIVO monotherapy, immune-mediated hepatitis occurred in 1.8% (35/1994) of patients, including Grade 4 (0.2%), Grade 3 (1.3%), and Grade 2 (0.4%).

 

In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated hepatitis occurred in 15% (70/456) of patients, including Grade 4 (2.4%), Grade 3 (11%), and Grade 2 (1.8%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated hepatitis occurred in 7% (48/666) of patients, including Grade 4 (1.2%), Grade 3 (4.9%), and Grade 2 (0.4%).

 

OPDIVO in combination with cabozantinib can cause hepatic toxicity with higher frequencies of Grade 3 and 4 ALT and AST elevations compared to OPDIVO alone. Consider more frequent monitoring of liver enzymes as compared to when the drugs are administered as single agents. In patients receiving OPDIVO and cabozantinib, Grades 3 and 4 increased ALT or AST were seen in 11% of patients.

 

Immune-Mediated Endocrinopathies

OPDIVO and YERVOY can cause primary or secondary adrenal insufficiency, immune-mediated hypophysitis, immune-mediated thyroid disorders, and Type 1 diabetes mellitus, which can present with diabetic ketoacidosis. Withhold OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information). For Grade 2 or higher adrenal insufficiency, initiate symptomatic treatment, including hormone replacement as clinically indicated. Hypophysitis can present with acute symptoms associated with mass effect such as headache, photophobia, or visual field defects. Hypophysitis can cause hypopituitarism; initiate hormone replacement as clinically indicated. Thyroiditis can present with or without endocrinopathy. Hypothyroidism can follow hyperthyroidism; initiate hormone replacement or medical management as clinically indicated. Monitor patients for hyperglycemia or other signs and symptoms of diabetes; initiate treatment with insulin as clinically indicated.

 

In patients receiving OPDIVO monotherapy, adrenal insufficiency occurred in 1% (20/1994), including Grade 3 (0.4%) and Grade 2 (0.6%).In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, adrenal insufficiency occurred in 8% (35/456), including Grade 4 (0.2%), Grade 3 (2.4%), and Grade 2 (4.2%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, adrenal insufficiency occurred in 7% (48/666) of patients, including Grade 4 (0.3%), Grade 3 (2.5%), and Grade 2 (4.1%). In patients receiving OPDIVO and cabozantinib, adrenal insufficiency occurred in 4.7% (15/320) of patients, including Grade 3 (2.2%) and Grade 2 (1.9%).

 

In patients receiving OPDIVO monotherapy, hypophysitis occurred in 0.6% (12/1994) of patients, including Grade 3 (0.2%) and Grade 2 (0.3%).

 

In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, hypophysitis occurred in 9% (42/456), including Grade 3 (2.4%) and Grade 2 (6%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, hypophysitis occurred in 4.4% (29/666) of patients, including Grade 4 (0.3%), Grade 3 (2.4%), and Grade 2 (0.9%).

 

In patients receiving OPDIVO monotherapy, thyroiditis occurred in 0.6% (12/1994) of patients, including Grade 2 (0.2%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, thyroiditis occurred in 2.7% (22/666) of patients, including Grade 3 (4.

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The AACCNJ plans to host a Town Hall Meeting to address  ‘The Fierce Urgency of Now’ — A Presentation on the State’s Disparity Study

TRENTON, N.J. —  “The African American Chamber of Commerce of New Jersey (AACCNJ) will host a town hall meeting topic: “The Fierce Urgency of Now” – A Presentation on the State’s newly released Disparity Study, conducted by Mason Tillman Associates, LTD.

 

The Town Hall Meeting will be held at The Crowne Plaza Princeton, N.J. on Feb. 6 from 3 to 5 p.m., and is a free event. The Presentation will be led by Dr. Denise Anderson, Founder & CEO, Denise Anderson & Associates (DA&A) LLC, moderated by John E. Harmon, Sr., IOM, Founder, President & CEO, AACCNJ, and will include a Q&A session with the audience.

 

“The Study, as expected, revealed that African American businesses received little of the $ 18.5 billion the Murphy administration spent on contracts for construction, professional services and goods and services from 2015 to 2020,” said John E. Harmon, Sr.

 

“While expecting the worst, little did we know that the Study would document African Americans received less than one (1) percent of the $18.5 billion dollars the State awarded to contractors. African American businesses received a pittance despite the fact that we represent, 14 percent of the population, and over 10 percent of the businesses in New Jersey willing and able to contract with the State.”

 

The Study also documented that all ethnic groups received fewer contracts than expected given the number of New Jersey businesses owned by people of color. More than 25 percent of the businesses the Study identified as willing and able to contract with the State were owned by African Americans, Asian Americans, Hispanic Americans, and Native Americans.

 

“Now that the State’s commissioned study has documented the institutional discrimination our members have long experienced, we must demand that the Murphy Administration immediately establish a race and gender-based program with minority and woman-owned business utilization goals to end the discriminatory practices in its award of contracts,” said Harmon.

 

“As we move forward, we ask the Governor and his administration to also hold a statewide meeting, to discuss the results of the disparity study,” said Harmon.

 

“We plan to work in partnership with the State to put forth best practices that will provide the constituency of the AACCNJ, and others, with consistent access to opportunities and resources that they can leverage to strengthen their enterprises and ideals while mitigating past underperformance,” said Harmon.

“Our mutual goal henceforth is to have a more equitable participation in every area of the public sector wherein economic opportunities exist.”

 

“These times remind me of words that were expressed by the late Dr. Martin Luther King, Jr.: “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy,” said Harmon.

 

 

About the African American Chamber of Commerce of New Jersey

The AACCNJ performs an essential role in the economic viability of New Jersey. While providing a platform for New Jersey’s African American business leaders, to speak with a collective voice, the AACCNJ advocates and promotes economic diversity fostering a climate of business growth through major initiatives centering on education and public policy. The Chamber serves as a proactive advocacy group with a 501(c) 3 tax exemption, which is shared by the National Black Chamber of Commerce.

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Top resolution for 2024 New Year: To avoid financial pitfalls by prioritizing savings as big safety net

NEW YORK — After more than two and a half years of struggling with high inflation, financial analysts are urging Americans to make building a solid nest egg of savings their top New Year’s resolution.

 

The prolonged period of high inflation has created severe financial stress for most U.S. households, as they are forced to pay more for everyday needs like food and housing. Low-income households have been particularly hard hit.

 

Despite the economic volatility in 2023, a recent study by USA Today found that more than four in five Americans feel some level of positivity about the U.S. economy going into 2024. However, Real Estate Developer, Serial Entrepreneur, TV Producer and Talk Show Host Dee Brown warns that there are several steps all households must take to help secure their financial foothold.

 

According to Brown, securing a financial future should be a priority for families. To assist with this, Brown recommends the following three steps:

 

1. Establishing an Emergency Fund: Setting aside a portion of income into an emergency fund can provide a safety net for unexpected expenses and financial hardships.

 

2. Budgeting and Expense Tracking: Creating a detailed budget and tracking expenses can help families prioritize spending, identify areas for saving and avoid unnecessary financial stress.

 

3. Investing in Retirement Accounts: Contributing to retirement accounts such as 401(k)s or IRAs can help build long-term financial security and ensure a comfortable retirement.

 

By taking these steps, Brown believes that households can secure their financial future and mitigate the impact of high inflation and economic volatility.

 

Dee Brown quote/tips:

“Building a solid nest egg of savings is a lifeline in times of economic uncertainty. By establishing an emergency fund, budgeting wisely and investing in retirement accounts, families can take control of their financial future and secure their foothold in today’s challenging economy.”

 

More on Dee Brown:

Dee Brown is a multifaceted entrepreneur, award-winning producer, director, writer, author, talk show host and philanthropist. He is the Founder and CEO of the P3 Group Inc., the nation’s largest African American owned, public-private partnership real estate development firm. Brown has amassed more than 30 years of solid, record breaking experience in real estate sales and development, management, construction, infrastructure, water/sewer and environmental projects in the private and governmental sectors. He also serves as the Founder and Chairman Emeritus of the nonprofit Brown Foundation Community Development Corporation.

 

He is also a proud 2023 recipient of President Biden’s Lifetime Achievement Award.

 

Brown holds a bachelor’s degree from the University of Memphis, an MBA from Bethel University and numerous professional certifications. He is a lifetime member of Kappa Alpha Psi Fraternity Inc., NAACP, Producers Guild of America, National Academy of Television, Arts & Sciences, the International Documentary Association and Entrepreneur Leadership Network. He also serves on the Documentary and Nonfictional Committee for the Producers Guild of America. As a contributing writer for Forbes.com, Entrepreneur.com, Metro & Peoria Magazines, Brown shares his insights and vast business experience with readers around the world.

 

Dee Brown is also the Executive Producer and Director of Tiger Run: The Untold Story. This highly acclaimed documentary compiles interviews, game footage and other behind the scenes video of Coach Prime — NFL Legend Deion Sanders — and showcases his mission to transform the lives of players at Jackson State University at its annual Pro Day event.

 

https://www.youtube.com/watch?v=KC73Xj-FDCE

www.DeeBrownCeo.com

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Brazilian world sales company O2 Play nabs Marcelo Gomes’ ‘Portrait of a Certain Orient’ ahead of Rotterdam premiere

Marcelo Gomes’ new film “Portrait of a Certain Orient” will be represented for world sales by Brazil’s O2 Play.

 

The deal was sealed ahead of the film’s premiere at the International Film Festival Rotterdam, where it plays as part of the Big Screen Competition.

 

(Courtesy of IFFR)

                                                                      

O2 Play is the distribution arm of O2 Filmes group, a production, post-production and advertising company owned by Fernando Meirelles, the Oscar-nominated director behind “City of God,” “The Constant Gardener” and “The Two Popes.” Meirelles heads the company alongside Andrea Barata and Paulo Morelli. Founded by Igor Kupstas in 2013, O2 Play has theatrically released over a hundred films in Brazil, including Ryusuke Hamaguchi’s “Drive My Car,” Martin Scorsese’s “The Irishman” and, most recently, Sofia Coppola’s “Priscilla.”

 

Gomes, whose 2005 feature debut “Cinema, Aspirins and Vultures” was funded by IFFR’s Hubert Bals Fund, returns to the festival with his eighth feature, an adaptation of eminent Brazilian-Lebanese writer Milton Hatoum’s eponymous 1989 novel about a trio of Lebanese immigrants heading to Brazil.

 

Gomes said: “In my film, I try to show that the only way to deconstruct prejudices is by viewing the world through the eyes of others as an antidote to fanaticism. In view of the many crises engulfing us around the world that seems more important today than ever.”

 

Igor Kuptsas, director of O2 Play, said: “Marcelo’s body of work is proof that he is one of the most renowned Brazilian filmmakers working today, and his sensitive and incisive treatment of questions of migration and belonging go to the heart of one of today’s most pressing global issues in a family saga that is universally relatable.”

 

Speaking exclusively to Variety ahead of the film’s premiere, Gomes says he was attracted to Hatoum’s novel due to it being “unfilmable,” going on to explain he appreciated the idea of adapting a book featuring several streams of consciousness. The story, which follows two Catholic Lebanese siblings who meet a Muslim Lebanese man on a boat to Brazil, felt like a “puzzle” to the “Joaquim” director.

 

(Marcelo Gomes, Courtesy of Getty)

“I wanted to show the Amazon through the eyes of someone who had never been there, to show Brazil from the perspective of a foreigner. My first film is about a foreigner in the northeast of Brazil and I think that film made me understand my country better than any other films,” he added. “I love the thought of someone coming from the Middle East, from the desert, and landing in the Amazon.”

 

The director went on to describe the making of a film as a “saga.” “This film is a miracle! We were three days into shooting when we had to stop because of the pandemic. We all went back home and had to raise money again later on to restart production.” Still, even with the difficulties, Gomes managed to produce a film in several languages including Arabic, French and the Tucano Indigenous language, and featuring an international cast including Wafa’a Celine Halawi, Charbel Kamel, Zakaria Al Kaakour and Eros Galbiati.

 

This was vital to the director because, in the book, the Brazilian city of Manaus is described as a Babylon, with immigrants coming from countries such as Spain, Portugal and Lebanon to work in the region’s many plantations and factories. “It was a very cosmopolitan city, so I thought this film needed to be in multiple languages,” said Gomes. “I had to invite Lebanese actors because I needed actors speaking in their language and their own accents and I also wanted actors who had never seen the country with their own eyes. I thought this would give a truth to the film that was very important.”

 

Of broaching contemporary issues such as land demarcation and immigration in a period film, the director said: “Immigrants want a place to call home. This is a problem we have in Brazil. In the Amazon, farmers want to steal the land from the natives. The book was written in 1981, but I am a person living in 2024 and touched by the issues that are going on around me. I had to include Indigenous issues in the film, I had to mention the Middle East issues in the film and the immigration crisis.”

 

Premiering the film in Rotterdam has a special meaning to Gomes, who claims the festival to be “the most important of my career.” “I have shown my shorts there and, when I was developing the script for my first feature back in the late 90s, I had no money. So I applied for the Hubert Bals Fund and received the grant. Because of that grant, I wrote the script, applied for other grants, succeeded to make my film and then presented it at Cannes. The festival is like my mother.”

 

“Portrait of a Certain Orient” will premiere at IFFR on Jan. 27.

 

 

 

— Variety EXCLUSIVE

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Leading Independent Proxy Advisory Firm Glass Lewis recommends shareholders vote ONLY on the WHITE proxy card ‘FOR’ all of Ocean Power Technologies Board nominees

Both Leading Independent Proxy Advisory Firms – ISS and Glass Lewis – Now Recommend Voting “FOR ALL” of the Board’s Highly Qualified and Experienced Nominees

 

OPT Continues to Urge All Holders to Vote ONLY on the WHITE Proxy Card Today “FOR” All the Company’s Board Nominees and Other Proposals

 

 

MONROE TWP., N.J. — (BUSINESS WIRE) — Ocean Power Technologies, Inc. (NYSE American: OPTT)

“(OPT” or the “Company),” a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that Glass, Lewis & Co., LLC (“Glass Lewis”), a leading independent proxy advisory firm, has joined Institutional Shareholder Services Inc.

 

 

“(ISS)” in recommending that the Company’s shareholders vote ONLY on the WHITE proxy card “FOR” all of the OPT Board of Directors’ (the “Board)” highly qualified and experienced director nominees at the upcoming 2023 Annual Meeting of Stockholders “(2023 Annual Meeting),” scheduled to be held on Wednesday, Jan. 31, 2024, via live webcast.

 

In its report recommending support for all of OPT’s director nominees, Glass Lewis notes that:1

  • “[…] the incumbent directors appear to have appropriate qualifications and expertise to oversee the Company and that the board is sufficiently independent.”
  • “[…] we note that the incumbent chairman, Mr. Cryan, has considerable turnaround experience, including at three companies and has served in an executive position at a firm that consults companies facing challenges.”
  • “We observe that the board has also undergone significant refreshment in recent years, five out of six incumbent directors were appointed to the board in 2020 or 2021 and that average tenure of the incumbent directors is four years.”

In addition, Glass Lewis shares the Company’s concerns as to the purpose of Paragon’s interest in OPT:

  • “[…] we do question the nature of Paragon’s interest in the Company and we share the concern raised by the incumbent board that Paragon may have an undisclosed agenda.”

 

As a reminder, shareholders may receive proxy materials from an activist investor, Paragon Technologies, Inc. “(Paragon)” (OTC Pink: PGNT). A vote for any of Paragon’s purported nominees on theblue proxy card will not be counted at the 2023 Annual Meeting. Shareholders are urged not to sign or return any blue proxy card and to discard Paragon’s materials. Please vote only on the WHITE proxy card. If a shareholder previously signed a blue proxy card sent by Paragon, that proxy card can be revoked by voting on a new WHITE proxy card. Only the latest-dated proxy card will count.

 

Shareholders are urged to protect their investment by voting “FOR” all of OPT’s proposals, including voting “FOR ALL” of the OPT Board’s highly qualified and experienced director nominees, by promptly signing, dating, and returning each of the WHITE proxy cards they have received or by voting by telephone or internet. Time is short so shareholders are urged to vote TODAY the WHITE proxy card to ensure that their votes are received in time to be counted at the 2023 Annual Meeting.

 

***

THE OPT BOARD UNANIMOUSLY RECOMMENDS A VOTE “FOR” ALL THE COMPANY’S PROPOSALS, INCLUDING A VOTE “FOR ALL” THE OPT BOARD’S NOMINEES ON THE WHITE PROXY CARD

OPT SHAREHOLDERS ARE REMINDED THAT THEIR VOTE IS VERY IMPORTANT, NO MATTER HOW MANY OR HOW FEW SHARES THEY OWN

TIME IS SHORT SO PLEASE VOTE THE WHITE PROXY CARD TODAY

PLEASE COMPLETE, DATE, SIGN, AND RETURN EVERY WHITE PROXY CARD YOU RECEIVE

DO NOT SIGN OR RETURN ANY BLUE PROXY CARD SENT BY PARAGON

***

 

If shareholders have any questions or require assistance in voting your WHITEproxy card, please contact Morrow Sodali, our proxy solicitation firm, at:

MORROW SODALI

509 Madison Avenue Suite 1206

New York, NY 10022

Shareholders Call Toll Free: (800) 662-5200

Banks, Brokers, Trustees, and Other Nominees Call Collect: (203) 658-9400

Email: OPT@investor.MorrowSodali.com

 

About Ocean Power Technologies

OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey and has an additional office in Richmond, Calif. To learn more, visit www.OceanPowerTechnologies.com.

 

Forward-Looking Statements

This press release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements in this release are identified by certain words or phrases such as “may”, “will”, “aim”, “will likely result”, “believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect OPT’s current expectations about its future performance, plans, and objectives. By their nature, forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and involve risks and uncertainties that could cause actual results to materially differ from those anticipated or expressed in any forward-looking statement. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control, including, without limitation risks related to our ability to execute on our strategy, drive growth, and create value for our stockholders; our ability to develop, market, and commercialize our products; our ability to monetize our opportunity pipeline; our ability to achieve and, thereafter, sustain profitability; our ability to win government contracts, including in the defense and security sectors; the possibility that we may not be able to obtain the necessary facility and personnel clearances to qualify for certain government contracts, including in the defense and security sectors; our ability to continue the development of our proprietary technologies; our expected continued use of cash from operating activities unless or until we achieve positive cash flow from the commercialization of our products and services; our ability to obtain additional funding, as and if needed; our history of operating losses, which we expect to continue for at least the short term and possibly longer; our ability to control our expenses; our ability to attract and retain qualified personnel, including executive management; our ability to manage and mitigate risks associated with our internal cyber security protocols and protection of the data we collect and distribute; our ability to protect our intellectual property portfolio; the impact of inflation related to the U.S. dollar on our business, operations, customers, suppliers and manufacturers, and personnel; our ability to meet product development, manufacturing and customer delivery deadlines; our ability to identify and penetrate markets for our products, services, and solutions; and the risks related to the actions of Paragon Technologies, Inc. against OPT and the related litigation brought against OPT in the Delaware Court of Chancery, including the amount of related costs incurred by OPT and the disruption caused to OPT’s business activities by these actions.

 

Many of these factors are beyond our ability to control or predict. These factors are not intended to represent a complete list of the general or specific factors that may affect us. Additional factors are described in OPT’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports). Any forward-looking statements speak only as of the date on which such statements are made, and OPT undertakes no obligation or intent to update such forward-looking statements to reflect events or circumstances arising after such date. OPT cautions investors not to place undue reliance on any such forward-looking statements. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.

 

Important Additional Information And Where To Find It

OPT has filed with the SEC a revised definitive proxy statement on Schedule 14A on December 4, 2023, including a form of WHITEproxy card, and other relevant documents with respect to its solicitation of proxies for OPT’s 2023 Annual Meeting of Stockholders scheduled to be held on January 31, 2024 (the “2023 Annual Meeting”). INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REVISED DEFINITIVE PROXY STATEMENT (INCLUDING THE SUPPLEMENT THERETO FILED WITH THE SEC ON JANUARY 3, 2024 AND ANY OTHER AMENDMENTS OR SUPPLEMENTS TO OPT’S REVISED DEFINITIVE PROXY STATEMENT) FILED BY OPT AND ANY OTHER RELEVANT DOCUMENTS THAT OPT FILES WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT OPT’S SOLICITATION. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by OPT free of charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by OPT are also available free of charge by accessing OPT’s corporate website at www.oceanpowertechnologies.com, by writing to OPT’s Corporate Secretary at Ocean Power Technologies, Inc., 28 Engelhard Drive, Suite B, Monroe Twp., N.J. 08831, or by contacting OPT at (609) 730-0400.

 

Certain Participant Information

OPT, its directors, and executive officers may be deemed to be participants in the solicitation of proxies with respect to a solicitation by OPT in connection with matters to be considered at OPT’s 2023 Annual Meeting. Information about OPT’s executive officers and directors, including information regarding the direct and indirect interests, by security holdings or otherwise, is available in OPT’s revised definitive proxy statement for the 2023 Annual Meeting (including the schedules and appendices thereto), which was filed with the SEC on Dec. 4, 2023. To the extent holdings of OPT securities reported in the revised definitive proxy statement for the 2023 Annual Meeting have changed or subsequently change, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4, or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at www.sec.gov.

___________________________________

1 Permission to quote Glass Lewis was neither sought nor obtained. Emphases added.

Contacts

Investors:

609-730-0400 x401 or

InvestorRelations@oceanpowertech.com

Media:

609-730-0400 x402 or

MediaRelations@oceanpowertech.com
Or

Longacre Square Partners

Joe Germani / Dan Zacchei

jgermani@longacresquare.com / dzacchei@longacresquare.com

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Palworld, a Pokémon-like game launched on Jan. 19, has sold 5M+ copies; currently most played game on Steam, amid plagiarism claims 

—  The Pokémon-like has sold over 5 million copies in the three days since its early access launch

 

Ash Parrish / The Verge:

 

It seems like everyone on Earth is either talking about or playing Palworld. Indeed, in the three days since its early access launch on Steam on Jan. 19 (and simultaneous release on Game Pass), the game has sold over 5 million copies.

 

While that’s not quite Tears of the Kingdom numbers, to have a game from a relatively unknown developer do that kind of work in that short of time? Okay, Palworld, you have our attention. Let’s see exactly what it is you have to say.

 

Palworld’s announcement trailer released in 2021. It started generally enough, with a bright, colorful world populated with cute monsters that bear an almost uncomfortable resemblance to another game featuring cute, catchable creatures.

 

But then come the AK-47s. Midway through the game’s trailer, the tone shifts from “catch these cute monsters that will help you build your home” to “shoot these cute monsters and use them as slave labor.”

 

One of the most memorable moments from that first trailer was the image of a bunch of pals (the monsters are called pals) that look startlingly like Sprigatito, mournfully manufacturing assault rifles on an assembly line.

 

 

Fast forward two years, and while I haven’t quite gotten my gun factory up and running yet, I do feel a jolt of excitement when my Lamball helps me make a new tool or weapon. Crafting / survival games are not my jam; I bounce off them like Pikachu bouncing off a Snorlax belly. Yet for all my relative disinterest in what Palworld’s trying to sell me, I’m kinda buying it anyway. I definitely see the vision, and I completely understand how if I was someone who did enjoy the Pokémon or Minecraft games of the world, Palworld would have lit my brain on fire like a Charizard at butcher shop.

 

When you first load into Palworld, you create your character and then your world. I do appreciate that the tutorial is very good about explaining what it is you need to get started. There’s a robust survival guide that not only explains how the basic controls work but also offers tips on what to do first. And like any survival game, the first thing I wound up doing was punching trees and rocks.

 

Catching pals is a simple affair frontloaded with a bunch of busy work before you can even think about building your team. You’ve gotta craft the game’s version of pokéballs, but before you can make them you need a special kind of stone that you can either pick up off the ground or mine from rock deposits. Then you’ve gotta craft the workbench to craft the pokéball. After that, catching a pal works like it would in any other game: weaken it (with weapons, your fists, or another pal you’ve got on your team) then throw the ball to catch it. The game will tell you, based on how much you’ve weakened the pal, your likelihood of successfully catching it, which is a nice touch. But make sure you aim that ball precisely because if you’re off by one pixel, you’ll miss and lose your ball. This is especially frustrating in the early game because of all the work it takes to make the suckers in the first place.

 

Haven’t quite gotten to this level of automation yet. Image: Pocketpair

The game’s survival features are all what one would expect. There’s a hunger bar for your character, your pals have a hunger bar, and there’s even a hot / cold weather feature a la Tears of the Kingdom, so keep a torch handy or stay near campfires at night.

 

Setting up your base is similarly simple. Building a special structure will establish a base, and assigning any pals you’ve caught to that base will put them to work. If there are any resources within the base’s perimeter, your assigned pals will start harvesting them. Also, if you’re crafting within the base, whether it be tools or structures, your pals will bust out little hammers and help. You have to manage your pals carefully, providing them with shelter, food, and something to do.

 

And… that’s it. I have two hours in the game across PC and Game Pass. (The Xbox version is vastly inferior to PC — lots of frame rate drops, texture pop-ins, and visual glitches. Also, the Xbox version doesn’t have dedicated servers, which means multiplayer games are limited to up to four players, not 32 like on Steam. According to a report from IGN,Palworld developer Pocketpair is working on it).

 

It feels like I’ve got a decent understanding of most of what the game’s offering: catch pals, build stuff. The game’s novelty combined with its dissonant and edgy tone might be enough to hold players’ attention for the first 20 hours (or more, if you’re playing with friends), but I’m curious what the next 20 hours look like. The game’s still in early access and according to its Steam page, it’ll be at least a year before the full release.

 

Then there’s all the controversy. Multiple outlets and people on social media have pointed out the similarities between Palworld’s pals and pokémon.

 

https://x.com/TeeHallums/status/1748808064604504089?s=20

On X, user byofrog created a video showing models of pals superimposed over pokémon with the models lining up perfectly.

https://x.com/byofrog/status/1749198773295743156?s=20

https://x.com/byofrog/status/1749188773127016772?s=20

As of this writing, Palworld has sold over 5 million copies, and it is currently the most played game on Steam with over 870,000 players — it’s 300,000 players shy of beating Counter-Strike’s record for the most players on Steam ever. I can see why. First, it’s dry January. Outside of Prince of Persia: The Lost Crown — which you should absolutely be playing! — and Like A Dragon: Infinite Wealth, there’s not much going on such that a game like Palworld with its “Pokémon with guns” premise has the breathing room to make a big splash.

 

Secondly, Palworld is different. I don’t mean that it’s special in its difference; it’s not doing anything particularly inspired with its survival, crafting, or monster-catching elements. But the fact that Palworld mashed all those highly popular game mechanics together makes it enough to catch the attention of starved Pokémon fans who haven’t had a decent meal since Sword / Shield.

 

 

— Techmeme

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The AACCNJ responds to the press announcement of the Murphy Administration’s Disparity Study

TRENTON, N.J. —  The African American Chamber of Commerce of New Jersey (AACCNJ) responds to the release of the Murphy Administration’s Disparity Study.

The Office of Diversity and Inclusion oversaw the effort, which was the first study of its kind to be commissioned by the State since 2003. It was conducted by Mason Tillman Associates, LTD.

Gov. Murphy recently signed a package of legislation into law in Trenton. (Rich Hundley III/ NJ Governors Office).

“On behalf of the 1.2 million black residents and over 88,000 black owned businesses in the state of New Jersey, the announcement of the completion of the disparity study, is the news that we have been patiently awaiting and have prepared our hearts and minds to receive,” said John E. Harmon, Sr., IOM., Founder, President & CEO, African American Chamber of Commerce of N.J. (AACCNJ).

“Acknowledgement is an essential step to establishing the proper pathway to a credible coexistence. Today’s announcement serves as confirmation of what we all knew, and we are eagerly looking forward to a focused strategic alignment with the Murphy Administration, said Harmon.”

“This study speaks to the intolerance for equitable participation in taxpayer funded opportunities resulting in wide social and economic disparities that cannot be glossed over. It is incumbent on this administration, and the legislature, to not try to appease Black and Brown People with well-crafted conciliatory statements given the magnitude of harm we have been dealt with over the years,” said John E. Harmon, Sr.

“As I read through the pages of the Disparity Study it is difficult for me to conclude that there was not a greater degree of awareness, which should have led our leaders to figure out how they could have procured more opportunities to make our state more equitable, while we awaited the completion of the Mason Tillman Study,” said Harmon.

“There were substantial gains for contract awardees and elected officials since 2015 and the economic benefits for Blacks and Brown people in our state have not been reciprocated. The Port Authority of New York and New Jersey completed its disparity study in 2017 with results that were almost identical. Herein, a lost opportunity to apply best practices to really produce a Stronger and Fairer Economy,” said Harmon.

“We just celebrated in the past week, what would have been the 95th birthday of Rev. Dr. Martin Luther King, Jr., his powerful words have even greater significance today,” said John E. Harmon, Sr.

“An individual has not started living fully until they can rise above the narrow confines of individualistic concerns to the broader concerns of humanity. Every person must decide, at some point, whether they will walk in the light of creative altruism, or in the darkness of destructive selfishness,” Dr. Martin Luther King Jr., Montgomery, AL. Aug. 11, 1957.

“As we move forward, we plan to work in partnership with the State to put forth best practices that will provide the constituency of the AACCNJ, and others, with consistent access to opportunities and resources that they can leverage to strengthen their enterprises and ideals while mitigating past underperformance,” said Harmon. “Our mutual goal henceforth is to have a more equitable participation in every area of the public sector wherein economic opportunities exist.”

“We put forth a call to action for your continued support of the AACCNJ, so that we may continue to advocate for a more equitable share of the state’s balance sheet, we have been a leading voice in the advocacy for the completion of this disparity study since our inception in 2007”, said Harmon. “We now claim a seat at the table to ensure that reciprocity, and recompense become a reality with what Dr. King called “the fierce urgency of Now,” on behalf of our constituents and the beloved community. Let us combat selfishness, which is self-destructive behavior, not providing opportunities for those with the capabilities to contribute to the success of the state; let us embark on a new chapter of authentic and transparent collective collaboration.

Background and timeline

Dec. 23, 2020 “The Department of the Treasury announced several key initiatives on Wednesday that will advance the Murphy Administration’s commitment to ensuring Minority-, Women-, and Veteran-Owned Businesses (MWVOB) can more fully participate in New Jersey’s multi-billion-dollar supply chain.1

“Chief among these initiatives is the commissioning of the first disparity study in 20 years to measure current spend data, which is viewed as key to identifying and opening up new opportunities for MWVOBs to contract with the State of New Jersey to provide goods and services. The disparity study has been a priority for the Murphy Administration from day one.”2

“This disparity study is not only long overdue, it is an integral part of our vision for a stronger, fairer, and more resilient, post-COVID economy that opens doors for diverse businesses to play a greater role in shaping our state’s future,” said Governor Phil Murphy. “This study will provide us with an opportunity to create a more equitable business environment, which is a win for us all.”3

“Recognizing how long it has been since the last study was conducted, we tried to ensure that this new study will capture as much data as possible, beyond just statistics that are available on our spend, but also including outreach to stakeholders and community groups as well,” said Treasurer Muoio. “This will give us the tools and the information necessary to determine where our strengths and weaknesses lie so we can implement more equitable procurement strategies moving forward. The state has a vast supply chain of goods, commodities, and professional and financial services and in a truly equitable society every qualified vendor in our state should have the opportunity to participate in the economy fueled by their tax dollars.”4

The goal, as laid out in the bid solicitation, is to research, structure, and conduct a comprehensive and legally defensible disparity study of the State’s contract awards in construction, goods, and services over a five year period (July 1, 2015 through June 30, 2020) to determine whether there is a disparity between the number of qualified minority, women, and veteran-owned businesses ready, willing, and able to perform services, and the number of vendors/contractors actually engaged to perform such services. The Disparity Study will include a review of contracts for construction, goods, commodities, and services and shall be appropriately structured so that the state may, if appropriate, use the information to fashion race- and/or gender-neutral, and if necessary, race- and gender-conscious methods of achieving those goals for state contracts and employment by state vendors.5

The State of New Jersey held a series of virtual business community meetings on Sept. 20, 21, and 22, 2021 regarding its disparity study. AACCNJ’s member organizations participated in the meetings conducted by Mason Tillman Associates.

Jan. 9, 2023. “In spite of so many challenges, black businesses continue as the fastest-growing business segment of our country, so we remain very hopeful. With 94% of the black vote going to Governor Murphy in his last statewide election, we look forward to learning more about the tangible actions he will take in the second half of his final term to help level the playing field for all of us, said John E. Harmon, Sr. “Notably, we eagerly anticipate the announcement and projected timeline on a statewide Disparity Study that will further identify barriers and inequalities within our communities and take them head on.”

“These times remind me of words that were expressed by the late Dr. Martin Luther King, Jr.: “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy,” stated John E. Harmon, Sr. “We are now in those times once again and the optimal outcomes can be realized when the rules of engagement are clearly defined, and the playing field is available to all to compete effectively with value being the declared goal. In conclusion, the data in this study confirms that Black people are still at the bottom.”

 

1 https://www.nj.gov/treasury/news/2020/12232020.shtml

2 https://www.nj.gov/treasury/news/2020/12232020.shtml

3 https://www.nj.gov/treasury/news/2020/12232020.shtml

4 https://www.nj.gov/treasury/news/2020/12232020.shtml

 

About the African American Chamber of Commerce of New Jersey

The AACCNJ performs an essential role in the economic viability of New Jersey. While providing a platform for New Jersey’s African American business leaders, to speak with a collective voice, the AACCNJ advocates and promotes economic diversity fostering a climate of business growth through major initiatives centering on education and public policy. The Chamber serves as a proactive advocacy group with a 501(c) 3 tax exemption, which is shared by the National Black Chamber of Commerce.

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 IT’SUGAR unveils  exclusive Barbie Chocolate bars in  collaboration with Mattel close to Valentine’s Day

 

FT.  LAUDERDALE, Fla.  —   IT’SUGAR, one of the largest specialty candy retailers in the U.S., is excited to announce the launch of a licensing deal with Mattel, introducing three exclusive Barbie Chocolate Bars.

 

These delicious chocolate bars, priced at $3.99 each, will be available at IT’SUGAR stores and itsugar.com beginning on Thursday, Jan. 25.

 

The IT’SUGAR Exclusive Barbie Collection celebrate Barbie’s enduring legacy. The chocolate bars feature packaging inspired by Barbie’s signature style, creating a visual delight for fans and collectors alike. These delectable chocolate bars are just the beginning, as IT’SUGAR will soon introduce a variety of other Barbie-themed products in stores and on its website over the next month.

 

“We are excited to bring the magic of Barbie to life through our exclusive collaboration with Mattel,” said Justin Clinger, Assistant Vice President Creative and Marketing of IT’SUGAR.

 

“These bars are just the beginning, and a delightful way for fans of all ages to experience the iconic Barbie brand.”

 

On Thursday, Jan. 25, the IT’SUGAR Exclusive Barbie Chocolate Bars will also be featured prominently across IT’SUGAR’s social media channels. Customers and Barbie enthusiasts are invited to join the celebration of Barbie’s timeless allure with these exclusive treats. Engaging in the conversation on social media using the hashtag #BarbieBars allows you to stay connected and be part of this delightful experience.

 

IT’SUGAR Stores epitomizes what the brand is known for: thousands of varieties of over-the-top sweets, humorous products, and immersive candy experiences with featured shops, including Sour Patch Kids, OREO, Nerds, Skittles, Reese’s, and Starburst. It also includes shops devoted to retro and international candy, TikTok-trending treats, and much more, providing endless playful entertainment for sugar enthusiasts of all ages.

 

About IT’SUGAR: 

IT’SUGAR is one of the largest specialty candy retailers in the world, with over 100 locations in U.S. and Canada. IT’SUGAR isn’t just a candy store – it transforms how the world experiences their favorite sugary treats. Known for its absurd sugar innovations that celebrate lighthearted rebellion, IT’SUGAR aspires to a future where everyone has access to the pure joy that comes from indulging in a world with fewer restrictions and more SUGAR. IT’SUGAR is a member of BBX Capital, Inc.’s family of companies and a subsidiary of BBX Sweet Holdings. For more information, please visit www.IT’SUGAR.com

 

For more information, please visit www.itsugar.com.

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Gaming regulator in China rescinds draft rules, published in December to set spending limits and ban daily login rewards in online games; Tencent rose 6%+

—  China’s gaming regulator has removed from its website rules it proposed last month aimed at curbing spending and rewards

 

Josh Ye / Reuters:

 

HONG KONG — China’s gaming regulator has removed from its website rules it proposed last month aimed at curbing spending and rewards that encourage playing video games, checks by Reuters on Tuesday showed, in a move that boosted gaming company shares.

(Tencent sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights, opens new tab)

The link to the draft rules on the National Press and Publication Administration’s (NPPA) website was inaccessible as of Tuesday morning, after having worked on Monday.

 

The consultation period on the rules, which sparked market turmoil when they were first announced, expired on Monday.
The removal was described by analysts as unusual, with some saying a revision could be in store. The NPPA did not immediately respond to a request for comment on the reason for the removal.
Xiaoyue Hu, an analyst at Haitong Securities, said in a note to clients reviewed by Reuters that the removal of the announcement could signal “there might be further changes in the new measures.”

 

Hu said previous regulatory measures seeking opinions had a track record of staying on the government’s websites even after the consultation period ended.
Shares in Tencent Holdings (0700.HK), opens new tab, the world’s biggest gaming company, and its closest rival, NetEase (9999.HK), opens new tab, rose as much as 6% and 7% in morning trading respectively. The two companies’ shares were still up more than 4% at noon against a 2.4% increase in Hong Kong’s Hang Seng Index (.HSI)

 

The draft rules, which proposed setting spending limits for online games, had sparked panic among investors, wiping off nearly $80 billion in market value from China’s two biggest gaming companies when they were announced.
Analysts also at the time said the plans brought the risk of potential regulatory change back to the fore in the minds of investors, hurting confidence at a time when the government has been trying to boost private-sector investment to spur a slowing economy.
But five days later, the NPPA struck a more conciliatory tone, saying it would improve them by “earnestly studying” public views. Earlier this month, Reuters reported that China removed a gaming regulatory official from his post, in a move linked to the rules.
Two of the most contentious articles in the proposed rules were articles 17 and 18, analysts said. The NPPA had acknowledged concern over those articles in December and analysts said there was a possibility they could be removed or changed.
Article 17 seeks to ban video games from forcing players into combat, which confused the industry as combat is the key mechanic of the majority of contemporary multi-player games.
Article 18 requires games to set a spending limit for players as well as barring features that incentivize players to spend in the game.
“Our base-case view expects the government to remove Article 17 (prohibition of mandatory player-versus-player) and 18 (imposing spending limit) from the final rule,” Ivan Su, an analyst at Morningstar, told Reuters.
Charlie Chai, a Shanghai-based analyst at 86Research, said regulators have been working to contain the fallout of the proposed rules.
“It seems (government) officials were caught off guard by the overwhelming negative reaction from investors, businesses, and the public,” he said, adding that the government has since “moderated its stance (and labelled) the proposal as ‘negotiable.'”

 

 

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— Techmeme

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Art & Life Business Culture Lifestyle

Will Ferrell and trans comedy writer Harper Steel’s heartfelt documentary draws multiple standing ovations at Sundance premiere

Unlike Cannes and Venice, Sundance isn’t a film festival that inspires too many standing ovations.

 

But moviegoers at the Eccles Theatre were moved (more than once) to stand up and applaud after the premiere of “Will & Harper,” a funny, heartbreaking and poignant documentary about Will Ferrell taking a road trip with his longtime friend, Harper Steele, who transitioned at 61.

 

“Look at this! And this is for a documentary,” Ferrell said as he greeted the packed house in Park City on Monday night. “Wow! If we were going to be at Sundance, we thought it would be at a 10 a.m. screening in someone’s garage.”

 

“Will & Harper” chronicles the duo over 17 days as they drive from New York to California, making pit stops at basketball games, dive bars, “swanky” Las Vegas restaurants and other places where Steele hopes to feel more comfortable since she came out as a trans woman in 2022.

 

Along the way, they are greeted by many “Saturday Night Live” veterans, including Tina Fey, Kristen Wiig, and Molly Shannon, which is fitting because Ferrell and Steele met while working on “SNL” — as a performer and writer, respectively — in the ’90s. “(They were important to my transition; they’re my family,” Steele said of her “SNL” friends).

 

“The love these two friends have for one another fills me up,” a misty-eyed director Josh Greenbaum said during a post-screening Q&A. “I’m so grateful for this moment. I’m going to get it together and –”

 

“Answer the question,” Ferrell, who wiped away tears as he took the stage, jokingly interjected.

 

Although Greenbaum is known for kooky comedies like “Barb & Star Go to Vista Del Mar” and “Strays,” Steele said the director felt like the right fit to handle this documentary with love, care and sensitivity. “Will & Harper” captures serious and emotional conversations about being transgender, but there’s plenty of levity from comical moments involving Pringles, wacky costumes and a fateful trip to Dunkin’ Donuts.

 

“We are comedy writers, so we came up with a lot of bad ideas at first. We planned setups, and it felt weird and prank-y and inauthentic,” Steele said. “We said, ‘Let’s get in the car and see what happens.’”

 

Ferrell, who has endeared himself to America through comedies like “Elf,” “Step Brothers” and “Anchorman,” wanted to share a more personal side in the documentary. He broke down in tears more than once during conversations with Steele throughout the film.

 

“I felt like if we were going to be a part of this and create it with integrity, I owed it to Harper to be as open and emotionally available to what was going to happen,” Ferrell said.

 

Steele said she was inspired to make the documentary at a time when LGBTQ rights in the U.S. have been under attack.

 

“I had this friend — this is my privilege — who has made movies that appeal very broadly. That was the deciding factor … I could abuse this relationship for the good,” she joked. “I still don’t think Will knows what he did.”

 

Ferrell spoke to Variety prior to the film’s premiere and admitted that he had “zero knowledge” about the trans community before Steele came out.

 

“I had met trans people, but I didn’t have anyone personally in my life,” Ferrell said. “So this was all new territory for me. It’s a chance for us in the cis community to ask questions, listen and be there as a friend to discuss this journey.”

 

 

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— Variety