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FairPoint files for Chapter 11 bankruptcy protection

Mon, 10/26/2009 - 5:05am -- tim

FairPoint Communications, Inc, which provides most of Vermont's landline telephone and DSL internet services, today announced it has reached agreement on a comprehensive financial restructuring plan with creditors and will file for bankruptcy protection. The company assured the public that service will not be interrupted. The debt-for-equity deal makes the creditors the de facto owners of FairPoint, while reducing the debt service significantly. The company also said it is negotiating a deal with bond holders to further stabilize its liabilities.

Douglas addresses wide-range of Champlain Bridge challenges

Fri, 10/23/2009 - 10:10am -- tim

In the week since New York Department of Transportation officials deemed the Champlain Bridge connecting Chimney Point, Vermont to Crown Point, New York unsafe for vehicle or pedestrian traffic, federal, state and local officials have been hard at work pinpointing and addressing the wide-range of challenges created by the bridge closure.  Governor Jim Douglas today spoke with his staff via conference call from Seoul, South Korea to hear the latest update on the situation.  At Governor Douglas direction, members of his cabinet have been coordinating efforts to ensure the needs of Vermonter

Governor Douglas, South Korean biotech firm finalize plan to bring hundreds of jobs to Vermont

Fri, 10/23/2009 - 9:19am -- tim

On their first full day in Asia, Governor Douglas and Commerce Secretary Kevin Dorn finalized plans with Jay Peak Resort President Bill Stenger and his partners, South Korean company AnC Bio Inc, to designate its new subsidiary, AnC Bio VT, LLC as an official Vermont EB-5 Regional Center Project.  AnC Bio VT is now raising money for a planned new facility in Orleans County that will lead to the creation of over 200 new jobs.

Senate committees to discuss Vermont Yankee's spent nuclear fuel storage October 26

Fri, 10/23/2009 - 6:29am -- tim

Senate Finance and Senate Natural Resources will hold a joint committee meeting next Monday, October 26 to discuss potential issues around nuclear waste storage. The committee members will hear from Professor Michael Wilson regarding his evaluation of the geological suitability of the ENVY Spent Nuclear Fuel storage site in Vernon for the storage of spent nuclear fuel from the Entergy Vermont Yankee facility.

VEDA closes fiscal year after financing 315 projects totaling $94.4 million

Fri, 10/23/2009 - 6:05am -- tim

During Fiscal Year 2009 – VEDA’s 35th year in operation – the Vermont Economic Development Authority experienced an all-time high in loan activity, closing a staggering 315 financings totaling $94.4 million. These investments in Vermont’s manufacturing, agriculture, small business and service sectors more than doubled the $46.4 million in financings closed by the Authority during the prior year.
VEDA’s year-end figures will be presented today at the Authority’s 35th Annual Meeting in Burlington. Nationally-recognized Economist Hugh Johnson will be guest speaker at the event.

Home energy saving workshops begin October 24

Thu, 10/22/2009 - 10:00am -- tim

Below is the latest list of confirmed free Button Up Vermont workshops, sorted by county. These are all hosted by local committees, as part of the Button Up Vermont network. Attend a free Button Up Vermont home energy savings workshop and learn how to save money and fuel while having a more comfortable house.
Bristol and Lincoln
Holley Hall
7:00 PM
Sue Kavanagh and Stephen Taylor
Bristol & Lincoln Energy Committees
802-443-2322, 802-453-7976(h)

Veterans win major victories on health care funding, Agent Orange issue

Thu, 10/22/2009 - 9:55am -- tim

US Senator Bernie Sanders (I-VT), a member of the veterans committee, today hailed President Barack Obama s signing of legislation establishing advanced funding for the Department of Veterans Affairs and the department s recent acceptance of the connection between Agent Orange and devastating diseases. President Obama signed legislation today providing health care funding for the Department of Veterans Affairs (VA) one year in advance to better plan and manage their facilities including the ability to hire and train the right number of staff to take care of our veterans. 

Medicare spending breakthrough will reward Vermont's high quality, low cost

Thu, 10/22/2009 - 9:51am -- tim

Congressman Peter Welch and a coalition of House members announced a breakthrough Thursday morning in reforming the Medicare payment system to reward quality health care. At a Capitol Hill press conference, Welch and the other members outlined the deal, which will change the way Medicare pays health care providers for services from its current system focused on volume of care to a quality and value-based system. By making reimbursement rates more equitable, states like Vermont with higher quality and lower cost care are expected to benefit from the agreement.

Vermont Life Magazine Wins International Honors

Thu, 10/22/2009 - 9:47am -- tim

Vermont Life magazine, the state publication that explores Vermont’s dynamic culture, has won three awards from an international association of regional publications. The magazine won a Silver medal in the Historic Feature category; a Bronze medal in the Most Improved Magazine category; and an Award of Merit in the General Feature category at the International Regional Magazine Association’s annual conference earlier this week in New Mexico.