by Anne Galloway and Hilary Niles vtdigger.org A group of immigrant EB-5 investors are incensed that Bill Stenger, president and CEO of Jay Peak Resort, seized ownership of the Tram Haus Lodge and turned their half-million dollar equity stakes in the property into IOUs. Investors had no knowledge of Stenger’s actions until five months after they were executed.
The Windham County Economic Development Program is up and running and looking for applications with creative ideas that will help Windham County grow jobs and bolster the region’s economy. Applications are due September 23, 2014. On July 28 the Agency of Commerce and Community Development released a Notice of Funding Availability (NOFA) and the application for the first round ($2 million) of the funding made available by an agreement between the State of Vermont and Entergy.
Vermont Law School today announced the death of well-known and well-regarded Professor Cheryl Hanna. She is perhaps best known to the public for her Vermont Public Radio commentaries. The entire VLS statement follows: "It is with the most profound sorrow that we announce the untimely death of our dear colleague Professor Cheryl Hanna. A graduate of Harvard Law School, Professor Hanna was an expert in constitutional law, the United States Supreme Court, and women and the law.
Green Mountain Power is expanding its groundbreaking heat pump pilot program to Montpelier as part of the city’s major initiative focused on making Montpelier the first net zero capital city in the country. Green Mountain Power has been running what is believed to be the first utility-sponsored heat pump rental program in the country today, a pilot effort centered in Rutland and intended to save customers money and demonstrate the comfort air-source heat pumps can provide in a cold-weather climate.
Dartmouth-Hitchcock and Vermont HITEC have announced that the two institutions have registered over 725 New Hampshire and Vermont candidates to attend one of two information orientation sessions scheduled on Monday, July 28th. Attending an orientation session is the first step in the applicant selection process to becoming one of 20 medical assistants or 10 pharmacy technicians to work at Dartmouth-Hitchcock.
PC Construction, based in South Burlington, has been awarded a $61.2 million contract to build and modernize facilities at Bath Iron Works in Maine. The expansion at the historic shipyard on the banks of the Kennebec River marks the third major contract with General Dynamics Bath Iron Works for PC Construction, which also has offices in Portland, ME. The project includes the construction of an outfitting hall measuring 311 feet long, 165 feet wide, and 110 feet high; a state-of-the-art blast and paint facility; and a new boiler building designed to increase energy efficiency.
by John Herrick vtdigger.org The Vermont Public Service Board late Friday ordered Vermont Gas to halt construction of its natural gas pipeline extension along certain sections of the proposed route until the company submits a soil management plan.
The House on Friday unanimously passed bipartisan legislation that would restore the ability of consumers to more easily transfer their cell phones to other wireless carriers, just one week after the Senate approved the same measure. Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) and Ranking Member Chuck Grassley (R-Iowa) coordinated with House Judiciary Committee Chairman Bob Goodlatte (R-Va.) and Ranking Member John Conyers Jr. (D-Mich.) on the issue. The lawmakers praised Congress’s action to pass the pro-consumer bill, which now goes to the White House for signature.
US Senator Bernie Sanders (I-Vt.) on Friday told the annual convention of the National Association of Letter Carriers that the US Postal Service is not going broke, does not need to close service centers and should not end Saturday delivery service. Sanders drew standing ovations for opposing the cuts in sevices and jobs at the US Postal Service at a time of rising revenue.
Berkshire Hills Bancorp, Inc (NYSE: BHLB) reported a 5 percent increase in core earnings per share to $0.44 in the second quarter of 2014 from $0.42 in the prior quarter. Core earnings growth reflected the benefits of the first quarter branch acquisition combined with strong second quarter loan growth. Second quarter GAAP EPS totaled $0.46 per share, reflecting the benefit of the lower GAAP tax rate.
Ledyard Financial Group (Ticker Symbol: LFGP) announced today a $0.04 increase to its quarterly dividend. The dividend of $0.45 is payable September 5, 2014 to shareholders of record as of August 8, 2014. This is the second $0.04 dividend increase declared by the Company during 2014. The dividend was last increased by $0.04 for the dividend paid during March 2014. Strength in the Company’s core businesses is supporting the ability to continue with its dividend payouts and ensure that its shareholders benefit from the Company’s growth in earnings.
Vermont Business Magazine New unemployment claims in Vermont fell again to near their lowest point in recent memory. In early June, claims fell to 400, as filings have spiked and then fallen for most of the year.