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Nominations open for Vermont Business Magazine's Rising Stars Class of 2016

Fri, 07/01/2016 - 9:42am -- tim

Vermont Business Magazine VBM will again honor Vermont's most accomplished young leaders at the Rising Stars event held this fall. The nomination process is open from July 1 to September 2, 2016. Award recipients will be selected by a panel of judges for their commitment to business growth, professional excellence and involvement in their communities.

Rutland plant benefits as GE Aviation wins $1 billion contract for fighter engine development

Fri, 07/01/2016 - 9:09am -- tim

Vermont Business Magazine In a development with implications for future work at GE Aviation Rutland, Senator Patrick Leahy (D-Vermont) Thursday announced that the US Life Cycle Management Center (AFLCMC), based at Wright Patterson AFB, Ohio, late Thursday awarded GE Aviation a $1 billion contract to continue development of its three-stream adaptive cycle technology for the Air Force’s next generation of fighter engines. The long-awaited announcement follows an intense competition for the project. 

NG Advantage, General Transportation celebrate new facilities in Milton

Fri, 07/01/2016 - 9:02am -- tim

Vermont Business Magazine More than 70 employees, business partners, and local officials joined NG Advantage and General Transportation on June 23rd  to celebrate their new facilities in the Catamount Industrial Park in Milton. In 2013, the two companies partnered to make the first US delivery of compressed natural gas (CNG) to an industrial customer. Since that time both NG Advantage, the pioneer in “virtual pipeline” service, and General Transportation, a New England trucking company specializing in hauling fuel, have grown dramatically.

Vermont-based BioTek Instruments expands in Canada

Fri, 07/01/2016 - 8:37am -- tim

Vermont Business Magazine BioTek Instruments, Inc affirms their ongoing investment across the North American microplate-based technology market with the expansion of their business in Canada. The dedicated sales and support operation will focus on bringing enhanced applications and technical support throughout the country. Dr Charles Amirmansour, previously BioTek’s Applications and Business Development Manager, is now appointed as the Canadian Country Manager.

Fitch upgrades and withdraws Vermont Electric Cooperative's Sr Secured Rating; Outlook Stable

Fri, 07/01/2016 - 8:33am -- tim

Vermont Business Magazine Fitch Ratings has upgraded the implied senior secured rating for Vermont Electric Cooperative (VEC) to 'A-' from 'BBB+'. The rating takes into consideration VEC's $69.5 million in outstanding senior secured obligations that are privately held as of Dec. 31, 2015. The Rating Outlook is Stable. In addition, effective with this rating action, Fitch will withdraw VEC's rating, as it is no longer considered to be relevant for Fitch's coverage.

Vermont AG, Human Rights Commission release guide on the use of gender-based pricing

Fri, 07/01/2016 - 3:03am -- tim

Vermont Business Magazine The Vermont Attorney General’s Office and the Vermont Human Rights Commission issued Guidance on gender-based pricing, which is the practice of charging different prices for goods or services based on the consumer’s gender. Gender-based pricing occurs right here in Vermont – from services such as haircuts and dry cleaning to goods such as personal hygiene products and children’s toys.

Berkshire Bank parent buys New Jersey bank

Fri, 07/01/2016 - 2:52am -- tim

Vermont Business Magazine Berkshire Hills Bancorp, Inc (NYSE: BHLB), parent of Berkshire Bank with branches in Vermont, and New Jersey-based First Choice Bank have announced that they have signed a definitive merger agreement under which First Choice Bank will merge into Berkshire Bank and its subsidiary, First Choice Loan Services Inc, will become a subsidiary of Berkshire Bank in an all-stock transaction valued at approximately $111.7 million.   

Vermont Railway prevails, mostly, in decision on Shelburne salt shed

Thu, 06/30/2016 - 4:49pm -- tim

by C.B. Hall Vermont Business Magazine In a US District Court decision handed down June 29, Vermont Railway has won the primary points in its litigation against the town of Shelburne, allowing the railroad to proceed with plans to build a transloading facility for handling road salt on a 32-acre site just north of Shelburne village. In the decision, Judge William Sessions addressed suits filed by both parties in the case.

Raymond James pays $5.95 million for Jay Peak-related EB-5 involvement

Thu, 06/30/2016 - 4:49pm -- tim

Vermont Business Magazine Commissioner Susan L Donegan announced today that the Department of Financial Regulation (DFR) has reached a $5.95 million settlement with the securities broker-dealer firm Raymond James and Associates Inc. As the result of its investigation of securities concerns in connection with the sale of interests in Vermont limited partnerships tied to Jay Peak-related EB-5 projects, DFR found multiple instances of non-compliance with supervisory requirements and Vermont law. Vermont will get $1.45 million and the rest is earmarked for investors who might be reimbursed.

Black and Hispanic drivers in Vermont pulled over most often, but white drivers most likely to have contraband

Thu, 06/30/2016 - 2:22pm -- tim

by Jon Reidel A new study analyzing traffic stops in Vermont shows that black and Hispanic drivers are pulled over, searched and arrested far more often than whites, yet white drivers are more likely to be carrying illegal contraband. The independent study of racial disparities in traffic stops and outcomes by Vermont State Police between July 1, 2010, and December 31, 2015, found that black drivers were pulled over most often, followed closely by Hispanics.

Dunne unveils plan to overhaul Vermont’s healthcare system

Thu, 06/30/2016 - 2:11pm -- tim

Vermont Business Magazine Matt Dunne, Democratic candidate for governor, today unveiled a comprehensive plan for overhauling the state’s healthcare system. Dunne released his healthcare plan at an event at the State House, where he was joined by universal healthcare advocates, including Deb Richter, MD, and James Haslam, Executive Director of Rights & Democracy.

Attorney general warns of scam power disconnection calls

Thu, 06/30/2016 - 1:15pm -- tim

Vermont Busness Magazine Vermont business owners in Newport, Jay, and North Troy have reported receiving a call from a person claiming to be from the Vermont Electric Cooperative, the businesses’ electric utility, demanding immediate payment of an alleged delinquent bill. The caller threatens that electric power will be disconnected unless immediate payment is made. The caller had account numbers for some of the businesses. These calls are not from the electric utility – this is a scam call.