IBM likely candidate for $4.5 million state incentive

Thu, 04/17/2014 - 6:57am -- tim

by Hilary Niles When Governor Peter Shumlin on Monday announced a new scheme to induce a company in dire circumstances to stay in Vermont, he left little doubt that IBM would be a prime and likely candidate for the plan. He acknowledged as much Wednesday.

“I have read the same information that you have in the press about IBM,” Shumlin responded after a press conference.

Burlington School District to deal with ongoing deficits, IRS problem

Wed, 04/16/2014 - 4:35pm -- tim

In advance of Wednesday night’s Burlington School Board Finance Committee Meeting, the School Board provides this FY15 budget process progress report in an effort to keep Burlingtonians well-informed of the Board’s efforts to prepare a new FY15 budget for a June 3 vote. The district is sorting out a recurring deficit issue exacerbated by a few years of underestimated expenses and a payroll tax issue that will likely result in penalties to be determined by the IRS.

Legislators want to set February 2015 deadline for universal health care funding plan

Wed, 04/16/2014 - 8:05am -- tim

by Morgan True A new legislative proposal would freeze the funding for the Shumlin administration’s transition to a universal health care program if officials don’t present lawmakers with public financing details by February 2015. Governor Shumlin wants the universal program to go live on January 1, 2017. But fiscal year 2017 begins on July 1, 2016, and lawmakers want to have enough time to develop and pass a funding scheme, which could profoundly alter the tax code.

Moody’s improves Burlington’s credit rating outlook to 'stable'

Tue, 04/15/2014 - 2:18pm -- tim

Driven in large part by the City of Burlington's partial settlement with CitiBank over the repayment of Burlington Telecom debt and by the city's overall economic health, a major credit rating service has improved the city's rating from "negative" to "stable." Moody’s Investors Service published a Ratings Report Monday, in which Moody’s improved Burlington’s credit rating outlook to “stable” – revising the City’s rating to “Baa3 stable” from “Baa3 negative.” 

In its rating rationale, Moody’s shared the following: