Current News

Vermont Business Magazine Dealer.com, the automotive Web site developer based in Burlington, Vermont, has another new parent company. Cox Automotive, Inc, a leading provider of digital marketing, wholesale and e-commerce solutions across the automotive industry, today announced that will acquire Dealertrack in an all-cash transaction valued at $4 billion, or $63.25 per share. Dealertrack itself acquired the ownership of Dealer.com from investors in March 2014 for about $1 billion.

The acquisition is subject to a minimum tender of at least a majority of the outstanding Dealertrack common shares and customary closing conditions, and is expected to close in the third quarter of 2015.The Dealertrack Board of Directors has unanimously approved the acquisition and recommends that Dealertrack stockholders tender their shares in favor of the transaction.

SunCommon, a Vermont Benefit Corporation, has chosen to divest its 401k portfolio from fossil fuels. The divestment announcement was followed by a staff-wide educational presentation by Maeve McBride of 350VT and Dan Quinlan of Divestor.org. In keeping with SunCommon’s legal charter that directs the company to attend to the triple bottom line of people, planet and profit, the 69 employees were offered mutual fund options that support clean energy.

“At SunCommon, we believe everyone has the right to a healthy environment and safer world – and clean energy is the place to start. Divesting from fossil fuels was not just a moral play, it was a financial play. We’ve moved away from fossil fuels and in turn invested in our clean energy future,” said Duane Peterson, president and co-founder of SunCommon.

Vermont Business Magazine TDI New England announced today that it has completed an agreement with the Conservation Law Foundation that includes enhanced environmental and public benefits that the project will provide to Vermont as part of the development of the New England Clean Power Link. The NECPL is a proposed underwater and underground electric transmission line. The agreement was filed on June 12, 2015, with the Vermont Public Service Board as part of the project permitting and, in addition to the enhanced benefits, confirms that the parties agree that the PSB has sufficient information to approve the project and issue a Certificate of Public Good.

by Michael Smith In all likelihood, it didn’t take a political poll for him to make his decision. Governors are made keenly aware of the public’s views as they travel the state for meetings, events and parades. This is a state where governors are incredibly close to the people they serve. The reportedly cool receptions he was receiving at events must have been an indication Vermonters wanted change.

And so, with the announcement this week that he will not seek re-election, a political career will come to an end and Gov. Peter Shumlin will step down in January 2017.

by Sarah Olsen vtdigger.org A $17.8 million grant was awarded Friday to further biomedical research and education for all of Vermont’s colleges. The National Institutes of Health grant is the third to be awarded to the Vermont Genetics Network, which is based at the University of Vermont and serves UVM, the state college system, St. Michael’s College, Middlebury College and Norwich University.

“These resources will help to ensure that the Vermont Genetics Network can continue to make critical investments in college lab classes, innovative research efforts, and Vermont’s reputation as a leader in biomedical advancement,” Sen. Patrick Leahy, D-Vermont, said at a ceremony Friday.

Leahy is a member of the Senate Appropriations Committee, which funds the National Institutes of Health. Since 2005, Leahy has helped to secure $56.3 million in funding for the Vermont Genetics Network, according to a news release.

Elliot Burg, who has served as an assistant attorney general since 1987, has decided to retire from the Vermont Attorney General’s Office. "I'm incredibly grateful to have had the opportunity, for so many years, to work in the AG's Office on protecting Vermont consumers from unfair and deceptive practices. At the same time, I’m looking forward to being with my family more, and to pursuing my longstanding interests in photography, music, and international volunteer work," said Burg.

by Amy Ash Nixon vtdigger.org Burlington’s Development Review Board has approved plans for two new dormitories on the University of Vermont campus. The review board approved the plans following a deliberative session on Monday evening, a spokeswoman in the mayor’s office said. A final public hearing for the dorms was held last week at Burlington City Hall.

The new plans for the UVM dormitory on what’s currently University Place. (Rendering obtained from public records in the City of Burlington.)

As a result of a reduction in their FY16 budget passed by the Legislature in May, the Department of Libraries will reduce hours of operation and phase out Law Library services at the Vermont State Library, located in the Pavilion Building in Montpelier, beginning July 1. The Department of Libraries has developed a plan for moving forward with a reduction of over $400,000 in state general funds. The first major change comes with trimming State Library hours, library staff, library collection purchases, and ending legal reference service. Beginning July 1, the State Library will be open Monday through Thursday, 11 am to 4 pm, and closed on Fridays. The Library will retain its current print, state documents, and Vermont newspaper microfilm collections, but will not maintain the law collection.

FairPoint Communications, Inc (Nasdaq: FRP), a leading provider of advanced communications technology in northern New England and the largest in Vermont, opened a new data center Thursday in Manchester, NH. Located in downtown Manchester, FairPoint's newest data center provides businesses and organizations with network connectivity and rack space in a physically secure, convenient location. Businesses can use this location and FairPoint's data center in Laconia, NH, as primary or secondary data center sites or as part of a comprehensive disaster recovery strategy. FairPoint's data centers are strictly controlled environments with essential power, cooling, connectivity and physical security features.

Vermont Business Magazine Weekly unemployment claims in Vermont fell slightly for the third week. Claims are down to their typically low summer level. There were 422 new, regular benefit claims for Unemployment Insurance in Vermont, a decrease of 22 from the previous week's total and 19 more than they were a year ago. Generally, claims have been running below last year's totals.

Altogether 4,477 new and continuing claims were filed, a decrease of 184 from a week ago, and 539 fewer than a year ago. The Department processed 0 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08). The total for all programs was 4,477 claims, 184 fewer than last week, and 552 fewer than the same time last year.

Mayor Miro Weinberger today officially re-opened the Archibald neighborhood garden, which has been fully rehabilitated following the City’s recent purchase of the land from the Visiting Nurse Association of Chittenden and Grand Isle Counties (VNA). The garden, located at 28 Archibald Street near the Integrated Arts Academy and across the street from the Old North End Farmers’ Market, has been a vibrant community hub since 2007, when a group of Old North End residents came together to grow their own fresh, healthy food. The site now provides garden space for 24 households and several youth groups.

Governor Peter Shumlin today signed into law a comprehensive energy bill that will create 1,000 new jobs, save Vermonters $390 million on energy costs, and help Vermont combat climate change by putting the state on track to achieve a quarter of its greenhouse gas emissions reduction targets. The legislation also creates an innovative new program under which Vermont utilities will help customers reduce fossil fuel use and save money on their energy bills.

“Vermont is leading America in getting energy policy right,” Shumlin said. “This bill will help us take our innovation to the next level, enabling us to create jobs, save Vermonters money, and continue to make progress combating climate change. Under this bill, Vermont will pioneer a new model where utilities will be in the business of helping customers use less energy, save money, and ensure the energy they do use is from renewable sources. That’s the future of energy in America, and it’s starting right here in Vermont.”