Current News

Governor Peter Shumlin may have dropped his support for a single-payer healthcare plan, so advocates are turning to the Legislature to keep the effort alive. Hundreds of people from across the state are planning to come to Montpelier tomorrow morning to fill the halls of the Vermont State House on the opening day of the legislative session and call on elected representatives to respect Act 48, which commits the state to move toward a universal, publicly financed healthcare system. Specifically, the Healthcare Is a Human Right Campaign will be asking the Vermont Legislature to take up Governor Peter Shumlin's financing proposal and hold a public hearing.

The state of Vermont is attempting to use the clout of its pension investments to get one of the world's largest corporations to change its business practices. Vermont and a coalition of 47 global investors are challenging the ExxonMobil Corporation to adopt quantitative goals for reducing total greenhouse gas emissions from its products and operations. Upon the request of State Treasurer Beth Pearce, the Vermont Pension Investment Committee recently approved the co-filing of a shareholder resolution asking ExxonMobil to report to shareholders by the end of November on its plans to achieve these goals.

“As a shareholder, VPIC can request that ExxonMobil examine its practices,” explained Pearce. “We believe that clear greenhouse gas emission reduction goals will make Exxon more competitive and in turn protect shareholder value and address climate risk. By requesting this as part of an investor coalition, Vermont has a significant seat at the table to advocate for change.”

The Board of Directors at Bennington E/E Federal Credit Union located in Bennington, and VSECU, a statewide credit union for everyone who lives or works in Vermont, have announced a plan to merge the membership of the two credit unions. This is the second recent Bennington CU merger for VSECU.

Bennington E/E Federal Credit Union serves approximately 450 EVEREADY employees and their families. At Bennington E/E Federal Credit Union there is a growing desire to expand services and increase access to technology for its members. The plant management supports the Board’s decision to present this merger opportunity as a solution to bring additional services and benefits to their employees.

Dollar Tree Stores, Inc, will permanently keep all jewelry off its shelves in Vermont and pay the State $42,500 in settlement of a lawsuit filed by the Vermont Attorney General’s Office in July 2014. The suit alleged that Dollar Tree, a national discount chain based in Chesapeake, Virginia, violated a prior settlement with the state to minimize children’s exposure to toxic substances by refraining from selling jewelry in Vermont. Vermont Attorney General William H Sorrell noted that the new settlement “reflects my continued commitment to keeping products that may contain toxic substances out of the hands of Vermont’s children.”

by Amy Nixon vtdigger.org The House Education Committee faces a daunting task: balancing the need for improved public education against a public outcry for tax relief. Representative Dave Sharpe, D-Bristol, the chair of the committee believes the mission — to improve public education and find cost efficiencies — is achievable.

Rep. Dave Sharpe, D-Bristol

The Federal Home Loan Bank of Dallas (FHLB Dallas) has announced that Life Insurance Company of the Southwest, has joined its cooperative. The insurance company, with offices in Addison, Texas, and Montpelier, Vermont, is part of National Life Group, a Fortune 1000 company. Life Insurance Company of the Southwest will have access to liquidity through FHLB Dallas’ line of advances and other credit products.

“We are a significant supporter of residential mortgages, low income housing, and commercial multi-family loans through our investment portfolio,” said Don Messier, 2nd vice president of corporate development at National Life Group. “We have a good partnership with FHLB Dallas and our membership provides us valuable flexibility and access to liquidity that help us better protect our policyholders.”

As of September 30, 2014, a total of 30 insurance companies held membership in FHLB Dallas, one of 12 District banks in the FHLBank System created by Congress in 1932.

Medicaid and the expansion of insurance coverage under the Affordable Care Act has resulted in more uninsured Vermonters being covered for health insurance. Governor Peter Shumlin on Monday said he welcomed news that the Vermont Household Health Insurance Survey shows the number of Vermonters without health insurance has dropped significantly and reiterated the need for aggressive health care reform efforts to increase access and affordability of health care for all Vermonters. The governor said that he will outline his health care reform agenda in his annual Budget Address next week on January 15.

Vermont Business Magazine Despite a sluggish performance from the Personal Income tax again, which is the state's most important revenue source, Vermont tax revenues overall were ahead of targets last month. The Corporate tax led the way with nearly $7 million ahead of expectations. The tourism-heavy Rooms & Meals and Gasoline taxes also exceeded expectations, as did the taxes related to motor vehicles, which could reflect the heavy year-end sales by auto dealers. Secretary of Administration Jeb Spaulding released the preliminary December fiscal year (FY) 2015 revenue results today for the General, Transportation, and Education Funds.

Northern Power Systems Corp (TSX:NPS), a next generation renewable energy technology company based in Barre, Vermont, announced Monday that it has publicly filed a registration statement on Form S-1 with the US Securities and Exchange Commission, relating to a proposed initial US public offering of its common shares. In connection with the proposed offering, Northern Power Systems Corp has applied for the listing of its common shares on the NASDAQ Capital Market. The number of shares to be offered and the price range for the offering have not been determined. Northern Power is best known for its wind-power systems targeted for remote locations or low wind speed conditions.

Needham & Company, LLC will act as sole book-running manager for the proposed offering, with Craig-Hallum Capital Group LLC and Northland Capital Markets, Inc. acting as co-managers.

Despite New Year’s resolutions to eat better and lose weight, people buy the greatest amount of food after the holidays, says a study led by a University of Vermont researcher. The study, published by PLOS ONE, finds consumer spending on food increases by 15 percent over the holiday season (Thanksgiving to New Year), with most of the increase attributed to higher levels of junk food.

But shoppers buy the greatest amount of food after New Year -- the equivalent of a 9 percent increase in calories above holiday levels, says Professor Lizzy Pope of the University of Vermont, who led the study as a post-doctoral researcher at Cornell University’s Food and Brand Lab.

by Morgan True vtdigger.org Dr Marvin Malek is alarmed by a pattern of violent patient behavior at the new Vermont Psychiatric Care Hospital in Berlin. Malek started working at the facility in October as the lead consulting physician and his first day on the job ended with the examination one of the hospital’s psychiatrists whose patient “out of the blue had suddenly slugged him in the jaw.” In the span of one week, two psychiatrists were punched in the face, a nurse had been hit, and one of the less violent patients was blindsided, according to Malek. Two to three violent incidents occur at the hospital each week, he says.

The old Vermont State Hospital in Waterbury had ongoing problems with patient violence and as a result was not able to provide a safe and therapeutic environment. Ultimately, the federal government pulled funding for the state hospital.

by Bill Schubart Vermont needs to lose weight. Although our population is stable, our demography is changing. We’re older and becoming more urban. The local institutions that nurtured us when our dispersed villages were economically robust and filled with children and working people have grown too expensive.

While income for the wealthy living on dividends and interest has risen along with our cost of living, income from labor has remained fixed for several decades. We now have a state that working Vermonters can’t afford and well-heeled Vermonters don’t want to pay for.

For example, we have too many competing community hospitals. Non-profit competition raises costs rather than lowering them. We’re redesigning a healthcare delivery network that will rely on fewer hospitals but more agile local clinics and primary care practices to better manage chronic disease and emergencies.