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Entergy files motion in New York requesting action on nuclear spin-off

Wed, 07/15/2009 - 12:59pm -- tim

The owner of the Entergy Vermont Yankee nuclear plant in Vernon and four other such plants has met with New York regulators to make a more attractive financial offer in its effort to spin off those reactors into a new company called Enexus. The new proposal, which the company said would reduce the debt of the new company by $1 billion, while increasing capitalization by $350 million, would likely require further federal and Vermont regulatory approval. The other plants are Pilgrim (Plymouth, MA), Indian Point 1&2 (New York), FitzPatrick (New York), and Palisades (Michigan).

JD Power and Associates ranks CVPS second in the East

Wed, 07/15/2009 - 12:13pm -- tim

J.D. Power and Associates has ranked Central Vermont Public Service second in the East for customer satisfaction among midsized utilities. In J.D. Power and Associates study results released today, CVPS also ranked second in the East Midsize segment for the corporate citizenship and communications factors. The company ranked above the regional average for midsized utilities in all J.D. Power and Associates factors, including customer service, billing & payment, communications, power quality & reliability, price and corporate citizenship.

Union Bankshares announces second quarter results, dividend

Wed, 07/15/2009 - 10:12am -- tim

Union Bankshares, Inc. (NASDAQ UNB) today announced net income for the quarter ended June 30, 2009 was $1.23 million or $0.28 per share compared to $1.19 million or $0.27 per share for the same period in 2008.  Net Income year to date was $2.50 million or $0.56 per share for 2009 compared to $2.60 million or $0.58 per share for 2008. Total Assets have grown $29.3 million, or 7.4%, to $424.9 million at June 30, 2009 from $395.6 at June 30, 2008 while total deposits have grown $27.1 million, or 8.5%, to $347.9 million at June 30, 2009 from $320.8 million at June 30, 2008.

Vermonter to head FairPoint's northern operation after organizational shakeup

Wed, 07/15/2009 - 8:34am -- tim

FairPoint Communications, Inc. (NYSE: FRP) announced today a number of organizational changes. David Hauser, chairman and chief executive officer of FairPoint Communications, announced that effective immediately he is making several organizational changes in order to position the company to better tackle the integration issues of its systems in northern New England. Executive Vice President Jeff Allen of Essex Junction, Vermont, will now oversee all of FairPoint s Northern New England Operations.

Barre's Northern Power Systems to receive $683,000 in recovery funds

Wed, 07/15/2009 - 7:33am -- tim

US Senator Patrick Leahy (D-Vt.), US Senator Bernie Sanders (I-Vt.), and US Representative Peter Welch (D-Vt.) on Wednesday announced $683,388 in recovery funding for Barre, Vermont's Northern Power Systems. Northern Power was one of just 28 wind energy projects nationwide to receive nearly $13.8 million in Department of Energy funding intended for research, testing and analysis. The federal investment was made possible by the American Recovery and Reinvestment Act.

Vermont revenue report delivered Thursday

Wed, 07/15/2009 - 6:47am -- tim

State officials are hinting that the revised revenue expectations for the current fiscal year (FY 2010) will be downgraded when the Vermont Emergency Board meets Thursday with the economists representing the Douglas Administration and the Legislature. Already Speaker of the House Smith is asking legislators to look at efficiencies to save upwards of $30 million this fiscal year, while Administration Secretary Lunderville is looking at saving $15 million to $30 million by holding back payments to departments an average of 2 percent (the range he said would be 0-3 percent).

Vermont's Woodstock Farmers' Market selected Retailer of the Year by national trade group

Tue, 07/14/2009 - 10:21am -- tim

The Woodstock (Vermont) Farmers Market has been selected Retailer of the Year by the National Association for the Specialty Food Trade, a major trade association of the food industry. The honorees include 4 other markets nationwide and range from a major specialty supermarket chain in St. Louis to a family owned six-store specialty food chain in Eastern Virginia. The Woodstock Farmers Market has been serving fresh meats, seafood, produce and specialty groceries, along with take-away breakfast lunch and dinner at its single store location for over 17 years.

PSD requests investigation on FairPoint's ability to continue to operate in Vermont

Tue, 07/14/2009 - 8:28am -- tim

Today the Vermont Department of Public Service filed a Show Cause Petition with the Public Service Board, requesting an investigation to determine if FairPoint Communications is capable of continuing its telecommunications in the state.  At stake is the company s Certificate of Public Good , or CPG which is their license to conduct business as a regulated utility in the state. The request for a Show Cause investigation is intended to determine if the company is capable of recovering from its current situation and continuing to conduct business in the state.

Welch says Vermont dairy industry "on the brink of collapse"

Tue, 07/14/2009 - 7:51am -- tim

Testifying before a House Agriculture subcommittee Tuesday morning, Rep. Peter Welch sounded the alarm that Vermont s dairy industry is on the brink of collapse. Welch called on the subcommittee to take immediate action to save Vermont s family farms while working on a long-term solution to the persistent problem of severe price volatility.

Union Bank's Stewart honored by Vermont Bankers Association for 50 years of service

Mon, 07/13/2009 - 10:10am -- tim

Union Bank s Duwella Stewart was honored by the Vermont Bankers Association for her 50 years of service in local banking with Union Bank.  During her tenure at the Bank, she has served as Personal Banker, Teller, Special Project Supervisor (Union Bank Calendars), Bookkeeper, Proof Operator and more.  She has also been involved in the Bank s local fund raising initiatives, including the Lamoille Area Cancer Network, the March of Dimes and many others.