Latest news with #DeRemer
Yahoo
01-04-2025
- Business
- Yahoo
Trump Labor Department secures eye-popping sum to return to taxpayers amid DOGE push
U.S. Department of Labor Secretary Lori Chavez-DeRemer announced on Monday that her department will return over $1 billion in unused COVID-era funding back to the taxpayer amid the Trump administration's push for the Department of Government Efficiency (DOGE) to slash waste, fraud and abuse in the federal government. In a press release, the Labor Department said $1.4 billion of unspent COVID funding will be "returned to taxpayers through the U.S. Department of Treasury's General Fund" and added that "action" is "being taken to recover the remaining $2.9 billion." "The roughly $4.3 billion was intended for states to use for temporary unemployment insurance during the pandemic," the press release states. "Instead, several states continued spending millions of dollars despite no longer meeting necessary requirements, which was uncovered in a 2023 audit conducted by the department's Office of Inspector General." The department explained in the press release that the funding originated from the Coronavirus Aid, Relief, and Economic Security Act in March 2020 and that the program was meant to provide expanded unemployment insurance for Americans who were not able to work during the pandemic. Expert Turns Tables On Dem Critics After Musk Accuses Social Security Of Being 'Ponzi Scheme' The program was closed in 2021, the department said, but the 2023 audit "found four states were allowed to access the funding 'despite not meeting program requirements,' totaling over $100 million in spending." Read On The Fox News App "There's no reason leftover COVID unemployment funds should still be collecting dust," DeRemer told Fox News Digital in a statement. "I promised to look out for Americans' hard-earned tax dollars, and we are delivering at the Department of Labor." "Any money still sitting around for pandemic-era unemployment funds is a clear misuse of Americans' hard-earned tax dollars," Chavez-DeRemer said in the press release, adding that she is "rooting out waste to ensure American Workers always come First." Labor Secretary Chavez-deremer's First Memo Calls On Staff To Comply With Trump Policies: 'Let's Get To Work' Deputy Secretary of Labor Keith Sonderling said in a statement, "It's unacceptable that billions of dollars went unchecked in a program that ended several years ago. "In a huge win for the American taxpayer, we've clawed back these unused funds and will keep working to eliminate waste, fraud, and abuse." The announcement comes after DeRemer said in her first memo to the department after taking over last month that she plans to comply with Trump's executive orders and work with DOGE to eliminate waste, fraud and abuse. "Under the leadership of President Trump, our focus remains on promoting job creation, enhancing workforce development, and ensuring safe working conditions, wages, and pensions so that every American has the opportunity to succeed," DeRemer said to employees in the memo. "I challenge each of you to actively engage with your teams to identify innovative solutions that can help us achieve our goals." Chavez-DeRemer said that the Labor Department must align with the priorities of the Trump administration and "must focus on practicing fiscal responsibility, reducing unnecessary spending, and optimizing our resources to ensure that taxpayer dollars are utilized effectively." Fox News Digital's Brooke Singman contributed to this reportOriginal article source: Trump Labor Department secures eye-popping sum to return to taxpayers amid DOGE push
Fox News
01-04-2025
- Business
- Fox News
Trump Labor Department secures eye-popping sum to return to taxpayers amid DOGE push
U.S. Department of Labor Secretary Lori Chavez-DeRemer announced on Monday that her department will return over $1 billion in unused COVID-era funding back to the taxpayer amid the Trump administration's push for the Department of Government Efficiency (DOGE) to slash waste, fraud and abuse in the federal government. In a press release, the Labor Department said $1.4 billion of unspent COVID funding will be "returned to taxpayers through the U.S. Department of Treasury's General Fund" and added that "action" is "being taken to recover the remaining $2.9 billion." "The roughly $4.3 billion was intended for states to use for temporary unemployment insurance during the pandemic," the press release states. "Instead, several states continued spending millions of dollars despite no longer meeting necessary requirements, which was uncovered in a 2023 audit conducted by the department's Office of Inspector General." The department explained in the press release that the funding originated from the Coronavirus Aid, Relief, and Economic Security Act in March 2020 and that the program was meant to provide expanded unemployment insurance for Americans who were not able to work during the pandemic. The program was closed in 2021, the department said, but the 2023 audit "found four states were allowed to access the funding 'despite not meeting program requirements,' totaling over $100 million in spending." "There's no reason leftover COVID unemployment funds should still be collecting dust," DeRemer told Fox News Digital in a statement. "I promised to look out for Americans' hard-earned tax dollars, and we are delivering at the Department of Labor." "Any money still sitting around for pandemic-era unemployment funds is a clear misuse of Americans' hard-earned tax dollars," Chavez-DeRemer said in the press release, adding that she is "rooting out waste to ensure American Workers always come First." Deputy Secretary of Labor Keith Sonderling said in a statement, "It's unacceptable that billions of dollars went unchecked in a program that ended several years ago. "In a huge win for the American taxpayer, we've clawed back these unused funds and will keep working to eliminate waste, fraud, and abuse." The announcement comes after DeRemer said in her first memo to the department after taking over last month that she plans to comply with Trump's executive orders and work with DOGE to eliminate waste, fraud and abuse. "Under the leadership of President Trump, our focus remains on promoting job creation, enhancing workforce development, and ensuring safe working conditions, wages, and pensions so that every American has the opportunity to succeed," DeRemer said to employees in the memo. "I challenge each of you to actively engage with your teams to identify innovative solutions that can help us achieve our goals." Chavez-DeRemer said that the Labor Department must align with the priorities of the Trump administration and "must focus on practicing fiscal responsibility, reducing unnecessary spending, and optimizing our resources to ensure that taxpayer dollars are utilized effectively."
Associated Press
28-02-2025
- Business
- Associated Press
NANO Nuclear Energy Announces Active Corporate Role for Veteran Investment & Merchant Banker Darlene T. DeRemer as its Executive Director of Corporate Finance
New York, N.Y., Feb. 28, 2025 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) ('NANO Nuclear' or 'the Company'), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that Darlene T. DeRemer, previously Chairwoman of NANO Nuclear's Executive Advisory Board for Institutional Finance, has now transitioned to a new, active corporate role with NANO Nuclear as its Executive Director of Corporate Finance. In her new role, Ms. DeRemer will assist NANO Nuclear's executive management as a consultant in the continuing development and execution of the Company's financing strategies and its corporate processes and procedures, all with a view towards supporting NANO Nuclear's long-term growth. This appointment follows a similar, previously announced, leadership transition for the Hon. John G. Vonglis, who now serves as NANO Nuclear's Executive Director of Global Government Affairs after having served on the Company Executive Advisory Board. These appointments highlight the confidence of leading professionals in NANO Nuclear's mission and potential. Since its inception, NANO Nuclear has attracted highly qualified and proven leaders in finance, regulation, and science. Ms. DeRemer's appointment adds to a growing roster of exemplary professionals dedicated to NANO Nuclear's emerging status at the forefront of the advanced nuclear energy technology industry. 'Working alongside Jay and James on NANO Nuclear's Executive Advisory Board confirmed my confidence in NANO Nuclear's mission and leadership, and I'm thrilled to step into a more active role where I can contribute to NANO Nuclear's continued success,' said Darlene T. DeRemer, Executive Director of Corporate Finance of NANO Nuclear Energy. 'I believe that the future of the nuclear energy industry and NANO Nuclear's mission are closely aligned, given the innovative potential of our technologies to provide reliable, robust, and secure power to data centers, remote communities, mining projects, military installations, and beyond.' Figure 1 - NANO Nuclear Energy Executive Advisory Board Member Darlene T. DeRemer Transitions to Active Role within the Company as its Executive Director of Corporate Finance. Darlene DeRemer is the Chair of the ARK Invest ETF Trust Board and co-founder of Grail Partners LLC, a merchant banking firm where she leads the firm's Boston office. As a senior banker, she focuses on the global asset management industry, advising clients on a wide range of strategic transactions. With over 25 years of experience as a leading adviser in the financial services industry, Ms. DeRemer specialized in strategic marketing, product design, and the implementation of innovative service strategies. Before transitioning into investment banking, Ms. DeRemer led or participated in numerous advisory transactions. Her current clients include institutional and mutual fund managers in the U.S., as well as alternative investment firms seeking to access public markets both domestically and internationally. Previously, Ms. DeRemer ran NewRiver's eBusiness Advisory unit for four years and operated her own strategy firm, DeRemer + Associates, for 18 years. Founded in 1987, DeRemer + Associates was the first consultancy focused on the U.S. mutual fund industry. Darlene holds a B.S. in finance and marketing (summa cum laude, 1977) and an MBA with distinction (1979) from Syracuse University. 'I'm pleased to welcome Darlene to her new role at NANO Nuclear and thank her for her contributions as Chairwoman of our Executive Advisory Board for Institutional Finance,' said Jay Yu, Founder and Chairman of NANO Nuclear Energy. 'Her extensive background in guiding growing companies will be hugely beneficial as we expand and strengthen our operations in both the near and long term. I look forward to working with Darlene to ensure that NANO Nuclear has the financial capabilities to achieve our ambitious goals and as we seek to establish ourself as leader in the advanced nuclear energy industry.' 'Darlene's decision to move into a more active role with our company underscores both the great promise of our ambitions and our track record of achievements to date,' said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. 'Her leadership abilities and finely honed expertise will be tremendous assets as we continue to expand. In particular, her extensive network and talent for navigating complex financial landscapes will be vital as NANO Nuclear looks to capitalize on the growing momentum in the nuclear energy industry.' About NANO Nuclear Energy, Inc. NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S. Led by a world-class nuclear engineering team, NANO Nuclear's reactor products in development include 'ZEUS', a solid core battery reactor, and 'ODIN', a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. NANO Nuclear is also developing patented stationary KRONOS MMR™ Energy System and space focused, portable LOKI MMR™. Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America. HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear's own microreactors as well as the broader advanced nuclear reactor industry. NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear's developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS' initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface. Business Tel: (212) 634-9206 PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE: NANO Nuclear Energy LINKEDIN NANO Nuclear Energy YOUTUBE NANO Nuclear Energy X PLATFORM Cautionary Note Regarding Forward Looking Statements This news release and statements of NANO Nuclear's management in connection with this news release contain or may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as 'expects', 'anticipates', 'intends', 'plans', 'believes', 'potential', 'will', 'should', 'could', 'would' or 'may' and other words of similar meaning. In this press release, forward-looking statements include those regarding the anticipated benefits of Ms. DeRemer's association with the Company as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy ('DOE') or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at and at Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law. Attachment
Yahoo
19-02-2025
- Business
- Yahoo
Senators question President Trump's labor secretary nominee
WASHINGTON (NEXSTAR) — After almost fighting at a congressional hearing in 2023, Oklahoma Republican Sen. Markwayne Mullin and Teamster's President Sean O'Brien put aside their differences to support Lori Chavez-DeRemer for Labor Secretary. 'Actually, we got a really good friendship,' Mullin said in a video post on X. Mullin says DeRemer can bridge the gap between businesses and workers. 'She is directly uniquely positioned in the center,' Mullin said. That position put DeRemer in the hot seat Wednesday. Senators questioned the former Oregon Republican congresswoman about a bill she co-sponsored known as the PRO Act. 'I recognize that that bill was imperfect, and I also recognize that I'm no longer representing Oregon as a lawmaker,' DeRemer said. The PRO Act would have made it easier for workers to unionize and weakened states' 'Right to Work' laws that let workers avoid participating in unions. 'This is a tremendous sort of invasion of the state's rights,' Sen. Rand Paul (R-Ky.) said about the PRO Act. Sen. Paul backed off after DeRemer said she didn't support that part of the bill. 'So, you no longer support the aspect of the PRO Act that would have overturned state right to work laws?' Paul asked. 'That's a Yes? No more questions.' DeRemer said she's committed to carrying out the president's goals. 'Ensuring a level playing field for businesses, unions and most importantly the American worker,' DeRemer said. Democrats meanwhile questioned her loyalties to President Trump. Sen. Chris Murphy (D-Conn.) asked how she would handle potential investigations into Elon Musk's businesses. 'If the president asks you to give access to information to benefit a friend of his who has pending investigations? You wouldn't say no?' Murphy asked. 'Until I am confirmed, I would not be able to say, specific to this, without having the full picture,' DeRemer said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
