by Laura Krantz vtdigger.org Burlington College plans to sell 25 acres of its 32 acre lakefront property to real estate developer Eric Farrell next month for $7 million in an effort to keep the school open, officials said Monday. Interim President Mike Smith this month took a “deep dive” into the college’s finances and concluded the school’s status quo is not financially viable. It has $11.4 million in long-term debt and $300,000 in past-due bills, he said. Two-thirds of that is more than 90 days late, he said.
Governor Peter Shumlin was joined friday by Senator Dick Sears, Bennington health care and law enforcement officials, State’s Attorney Erica Marthage and others at the Bennington Police Station to announce a collaborative program between United Counseling Service and Southwestern Vermont Health Care to offer opioid medication assisted treatment.
Vermont Business Magazine The three-person team that has run the Burlington School District said they will quit November 10 and return to their regular duties because of the way they've been treated by the Burlington School Board.
Ledyard Financial Group (Ticker Symbol: LFGP) announced today a regular quarterly dividend of $0.45 per common share. The dividend is payable December 5, 2014 to shareholders of record as of November 7, 2014. This dividend payment will bring the total payout for 2014 to $1.72 per share which compares to the payout for 2013 of $1.44 per share.
Darn Tough Vermont, American manufacturer of the fastest growing collection of outdoor performance socks, based in Northfield, on Friday reported continued year-over-year growth with another record-setting quarter. With Q3 topline growth up 63% over the corresponding period in 2013, the Vermont sock company exceed its Q3 plans by16 percent.
Governor Peter Shumlin and the leadership of the Vermont Health Care Innovation Project (VHCIP) announced today the award of seven grants totaling $2,653,145 to promote health care innovation throughout the state.
The grants will support projects that advance the three core strategies of the VHCIP:
Vermont Business Magazine Non-current mortgages in Vermont are down for the month of August compared to the same time last year, but are up slightly compared to the previous two months, according to a national analyst. Foreclosures (2.3 percent)were down one-tenth from July and August, but delinquencies have risen, from 4.8 percent in June and 4.7 percent in July to 5.1 percent in August. As with every state but Louisiana, Vermont is enjoying long a decline in bad mortgages.
The Woodstock Community Trust, Twin Pines Housing Trust, and Housing Vermont joined funders and supporters of Safford Commons on Tuesday to celebrate the start of construction of the $9 million affordable housing development at the site of the former Grange Hall and church on Route 4 across from the Woodstock High School. Formerly referred to as Grange Hill, Safford Commons will provide attractive, affordable and energy‐efficient rental housing when construction is completed in September 2015.
Keurig Green Mountain, Inc, has announced that it is now the exclusive manufacturer of Meijer Brand K-Cup packs for the Keurig hot brewing system. Financial terms of the agreement were not disclosed. "As a valued customer for many years, we're thrilled to expand our relationship with Meijer by welcoming them into the Keurig brand family," said John Whoriskey, President of U.S. Sales and Marketing at Keurig.
by Anne Galloway vtdigger.org A group of EB-5 investors say they are growing increasingly frustrated with Northeast Kingdom developer Bill Stenger and are speaking out publicly for the first time. The group of 20 investors in the Tram Haus development at Jay Peak Resort, led by Tony Sutton of Clermont, Florida, question whether Stenger had the right to change the terms of their original investment and whether the new financial deal imposed by Jay Peak is as good.
by Anne Galloway vtdigger.org The 35 investors in the Tram Haus Lodge at Jay Peak Resort are immigrants from Europe, Canada and Asia who sought permanent residency in the United States. Most of them, according to Tony Sutton, one of the investors, are middle- and upper-middle-class people who sold their homes and pulled together savings to make a $500,000 downpayment on a green card and what they believed would be a profitable investment. They don’t fit the stereotype of foreign investors with excess disposable cash.
Vermont Businesses for Social Responsibility (VBSR) announced this week that it is honoring several legislators for their work in passing laws that support socially responsible businesses. Representative Sarah Buxton from Tunbridge and Senator David Zuckerman from Hinesburg are the recipients of VBSR’s Legislator of the Year Awards. The organization will also give a Lifetime Achievement Award to Sen. Sally Fox, who passed away earlier this year.