Current News

Vermont Business Magazine Governor Peter Shumlin issued the following statement after the Senate Appropriations Committee (on a vote of 4-3) today passed S241, legislation to legalize marijuana in Vermont. This follows favorable votes in both the Senate Judiciary and Finance Committees. The bill is scheduled to go to the full Senate later this week, where it is expected to pass. Its future in the House is less certain. Opponents see the House as an opportunity to stall the bill. Proponents of legalization will push hard to get a bill through the House and all the way to the governor for his signature this year. If the bill fails to pass this session, it would have to start over next year with a new governor and a new Legislature.

Public Assets Institute On opening day of the 2016 legislative session, House Speaker Shap Smith had this advice for his colleagues: “There will be those who suggest that because this is an election year, that we will focus on politics rather than the people’s business. I reject that premise. I know each and every one of you and know that you are here because you believe that we can help make Vermont a better place.” A good way for legislators to heed the speaker’s suggestion would be to resist the temptation to spend all of the Education Fund surplus just to hold down taxes in an election year. It will come back to bite their constituents next year.

Vermont Business Magazine Secretary of State Jim Condos and the Vermont Elections Division would like to remind all Vermonters that the deadline to register to vote is Wednesday, February 24^th! You must register by this date in order to vote in the March 1^st Town Meeting Day and Presidential Primary. Vermonters are welcome to register in person at their town clerk’s office, by mail or online. It must be submitted to the Town or City Clerk of the town or city in which you reside. If you register in person or by mail, you must complete this application:

https://www.sec.state.vt.us/media/33935/VTVoterApp.pdf.

To register online, go to our website and locate the online application. It can be found here:

https://olvr.sec.state.vt.us/.

Vermont Public Radio VPR has released a sweeping poll on several of the most compelling topics in Vermont today. What do Vermonters think about the coming election? What about renewable energy? Guns? Marijuana? School consolidation? Vermont Public Radio has released the full results of a statewide poll that measures Vermonters’ opinions about the presidential race and other key issues facing the state. From February 3 through February 17, 2016, VPR and The Castleton Polling Institute surveyed 895 people living in all of Vermont's 14 counties via landline and mobile phone.

Vermont Business Magazine At an annual meeting of the nation’s governors, Gov. Peter Shumlin led a successful bipartisan effort to create nationwide prescribing protocols to reduce the availability of Food and Drug Administration (F.D.A.) approved opiates in America. The protocols, which are likely to include restrictions on the number of opiates that can be prescribed, will be developed in the coming weeks and submitted for ratification by the National Governors Association (NGA).

Near the end of a meeting of the NGA’s Health and Human Services (HHS) Committee on Saturday, Shumlin urged that instead of dancing around the issue, the governors should come up with prescribing protocols that would be recommended for all 50 states.

“Let's figure it out,” Shumlin said. “Let's come up with a suggested list of protocols, and as governors let's drive them through our states.” The HHS Committee unanimously approved Shumlin’s motion to do that.

by Mike Smith Governor Peter Shumlin often dubs himself as the “transparency governor.” But proclaiming yourself as transparent and actually being transparent are two different things. You can claim transparency by simply stating it. However, definitive action is required to accomplish the task of being transparent no matter how much you try to hype the claim. In December of last year, Shumlin traveled to Paris to attend the United Nations Climate Change Conference. Upon his return, he reported that the cost of the trip was just $1,251 — the cost of travel for one aide. The administration reported that Georgetown University picked up the tab for the governor’s trans-Atlantic flight and lodging.

Vermont Business Magazine Two financial-service firms in Middlebury’s Marble Works are coming together to create Marble Trail Financial, which blends asset management and planning with certified public accounting to offer the most complete service package of its kind in the area. Since 2010, principals Don Devost and Matt Wootten of Addison Advisors have brought a personalized, holistic approach to helping area residents manage their assets and achieve their financial goals. They’ve formed the new venture with Steve and Louise Misasi, whose firm Misasi & Company CPAs dates to 2004 and has offices in both Middlebury and Dorset.

“This meets a strong demand among our clients, for a one-stop shop,” said Devost. “No one else in the area is providing such a full range of financial services.”

Vermont Business Magazine At the first-ever LaunchVT Collegiate Competition, teams from Champlain College and Middlebury College were awarded cash prizes to help launch their businesses. First prize winner, Thermouse from Champlain College will also have the opportunity to compete as a finalist in the LaunchVT competition on May 5 in Burlington. Tom Torti, President of the Lake Champlain Chamber which helped organize the competition, was impressed by the quality of the pitches “It warms the heart to see the talent and creativity the teams brought to their business ideas and presentations today. I hope these students walk away knowing that if they do start a business in Vermont, there is a great network of people to support them.”

Vermont Business Magazine The People’s United Community Foundation, the philanthropic arm of People’s United Bank, has announced today that it has awarded $2,500 to Mobius for their Quality Mentoring System (QMS). This brings the Foundations giving in Vermont during February to $45,000, including the Graham Emergency Shelter, Samaritan House, Zack’s Place, The Mentor Connector, and the Vermont Foodbank.

QMS is a national evaluation system developed by MENTOR (The National Mentoring Partnership) to ensure that mentoring programs are meeting all of the best practices in the Elements of Effective Practice for Mentoring. In collaboration with Vermont mentoring programs, Mobius - a statewide nonprofit supporting more than 140 adult-to-youth mentoring program sites serving 2,300 mentor pairs - has adjusted this national system to fit the local needs of the Vermont mentoring community.

Vermont Business Magazine HNI Corporation (NYSE: HNI), based in Iowa, has announced sales for the fourth quarter ended January 2, 2016, of $596.9 million and net income of $32.2 million, or  $0.71 per diluted share. Non-GAAP net income per diluted share improved 40 percent from the prior year quarter to $0.91, which excludes restructuring, goodwill and intangible impairment and transition costs. The Vermont Castings Group acquisition increased sales $62.7 million. HNI acquired Vermont Castings from its Kentucky-based owner in 2014. It subsequently closed the Bethel assembly plant in 2015, while the Randolph foundry remains in operation.

Fourth Quarter and Year End Summary Comments

Vermont Business Magazine The Vermont Housing & Conservation Board has committed $3,953,500 to develop, rehabilitate and preserve 220 affordable homes in settings ranging from shared elderly housing in Rochester, to new construction in White River Junction, redevelopment of deteriorated public housing in Rutland, energy retrofit and rehabilitation of apartments in Bennington, Bradford, and Wilder, and mobile home parks in Hardwick and Ludlow.  The VHCB commitments of state funding will leverage $32.6 million in other public and private funds.

Vermont Business Magazine Bernie Sanders on Saturday congratulated Hillary Clinton on her victory in Nevada’s closely-contested caucuses and looked ahead to carrying his campaign for the White House to primaries and caucuses across the country. With 95 percent of precincts reporting by Sunday morning, Clinton won 19 delegates with 52.7 percent of the vote and Sanders won 15 delegates with 47.2 percent of the vote, according to the Associated Press.

“I just spoke to Secretary Clinton and congratulated her on her victory here in Nevada. I am very proud of the campaign we ran. Five weeks ago we were 25 points behind and we ended up in a very close election. And we probably will leave Nevada with a solid share of the delegates,” Sanders said.