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People's United reports Q4 2014 earnings of 22 cents per share

Fri, 01/16/2015 - 1:12pm -- tim

People's United Financial, Inc, parent of People's United Bank, (NASDAQ: PBCT) today reported net income of $64.7 million, or $0.22 per share, for the fourth quarter of 2014, compared to $59.3 million, or $0.20 per share, for the fourth quarter of 2013, and $61.6 million, or $0.21 per share, for the third quarter of 2014. Operating earnings were $65.1 million, or $0.22 per share, for the fourth quarter of 2014, compared to $60.0 million, or $0.20 per share, for the fourth quarter of 2013, and $63.0 million, or $0.21 per share, for the third quarter of 2014.

Timber investment firm sells 1,243-acre tract in Washington County

Fri, 01/16/2015 - 12:31pm -- tim

Timbervest, LLC, an Atlanta-based company that manages timber-related assets and investments, today announced it sold more than 10,000 acres of timberland assets in Florida, South Carolina and Vermont from its Timbervest Partners I (TVP I) investment fund. The combined value of the three transactions totaled more than $14.2 million. Following the sales, the $230 million, vintage 2005 TVP I fund continues to own and manage high quality timberlands located throughout the country and its investor base consists of both institutional and high-net-worth investors.

VEDA approves nearly $30.5 million in business financings

Fri, 01/16/2015 - 9:30am -- tim

The Vermont Economic Development Authority (VEDA) has approved nearly $30.5 million in business financings, including reissuance of a $20.5 million tax-exempt revenue bond. Roughly $10 million of the total approved financing is comprised of loans for a variety of economic development projects in Vermont’s commercial, agricultural, small business and energy sectors.  

Vermont Tech receives first training provider grant awarded in 2015

Fri, 01/16/2015 - 4:25am -- tim

Vermont Tech has received the first training provider grant awarded in 2015 by the Vermont Department of Economic Development’s Vermont Training Program. The $18,000 grant will offset some of the costs associated with Vermont Tech’s Advanced Machinist Apprentice Program. In an effort to fill a growing manufacturing need in Vermont, Vermont Tech partnered with Green Mountain Economic Development Corporation, Hartford Area Career Technology Center, GW Plastics, North Hartland Tool and NE Precision to create the four year Advanced Machinist Apprenticeship Program.

Governor Shumlin talks taxes, education reform and Medicaid in sprawling budget speech

Thu, 01/15/2015 - 3:53pm -- tim

Vermont Business Magazine Governor Peter Shumlin took to the podium before a joint meeting of the Legislature in the House Chamber this afternoon to outline plans to increase Medicaid payments to providers, with the help of a $90 million payroll tax on every employer; to close a loophole in the income tax of $15 million to help pay off a $94 million budget shortfall in order to balance the FY 2016 Vermont state budget; and to use a carrot-and-stick approach to find a way to increase public education quality while lowering property taxes.

Attorney general settles with Vermont tobacco dealer

Thu, 01/15/2015 - 12:53pm -- tim

Fired-Up Tobacco, Inc and its owner, Christopher P Moreau of Barre, Vermont have settled with Attorney General Bill Sorrell for violations of Vermont’s tobacco law. Mr. Moreau and Fired-Up Tobacco, Inc. failed to file required reports, failed to maintain records, failed to report the sale of certain tobacco products, and illegally sold their own store-brand of roll-your-own tobacco.

Montpelier, South Burlington and Waterbury/Duxbury advance in national energy competition

Thu, 01/15/2015 - 9:41am -- tim

Three Vermont communities advanced to the semifinal round of the Georgetown University Energy Prize (GUEP), a national competition that is challenging communities across the U.S. to rethink their energy use. At a press event in Washington, DC. today, Montpelier, South Burlington and Waterbury/Duxbury (a joint application) were among the 50 communities acknowledged for leading the way on energy efficiency. Each of the 50 towns from around the country will compete for a $5 million purse, which can be used to support community energy efficiency initiatives, education or energy innovation.

Report: Vermont’s tax system is still unfair

Thu, 01/15/2015 - 6:13am -- tim

Public Assets Institute Vermont taxes are higher, as a percentage of income, on the poor and those in the middle than they are on the 1 percent at the top, according to the new study "Who Pays?" released Wednesday by the Institute on Taxation and Economic Policy (ITEP). Vermont is not alone; the wealthiest pay less than everyone else in all states. But Vermont is better than most when it comes to collecting taxes from those who are better able to pay, according to the study.

Bond Auto Parts’ stores raises over $30,000 for local food shelves

Thu, 01/15/2015 - 5:53am -- tim

Bond Auto Parts, Inc, a Barre, Vermont, based company, created a fundraising mission during this past holiday season and raised $30,525 for local food shelves across its network of stores. Food shelves across the region are typically hit hard during the holiday season and the money raised can go to purchasing food to replenish their shelves or help run their programs. Bond Auto’s 45 store locations throughout Vermont, New Hampshire, Massachusetts and New York worked hard along with their customers to raise the funds. Each store started raising funds just before Thanksgiving and had until De

Vermont Fish & Wildlife Department: Bird blinds, deer poaching and Lawbook

Thu, 01/15/2015 - 5:00am -- tim

Waterfowl hunters who did not remove their hunting blinds from the waters of the state earlier must do so before February 15 on Lake Champlain or May 15 on inland waters according to a reminder from the Vermont Fish & Wildlife Department. State law requires removal of the blinds before these deadlines in order to protect natural areas and to prevent boating accidents after the ice melts. 

First projects completed in state government solar initiative

Thu, 01/15/2015 - 4:35am -- tim

Governor Peter Shumlin has announced that construction has been completed on three solar projects at state correctional facilities in St Johnsbury, St Albans and Windsor, the first projects to go online in the largest public solar initiative in the history of Vermont. These 500kW projects are part of an initiative to provide solar power to state government facilities, including each of the state’s correctional facilities, several state office buildings, as well as the pavilion building that houses several state offices, including the Governor’s.