Current News

People's United Financial, Inc. (NASDAQ: PBCT) announced today that it has completed its acquisition of Danvers Bancorp, Inc., a $2.9 billion bank holding company based in Danvers, Massachusetts. Danvers Bancorp's sole subsidiary, Danversbank, has 28 branches in the Greater Boston area. The total consideration paid by People's United will be comprised of approximately 18.5 million shares of common stock and $214.5 million in cash.
The Hartford Courant is reporting that, based on People's United's closing stock price of $13.44 Thursday, the deal is valued at about $463 million in cash and stock.

The Vermont Energy Education Program (VEEP) is offering two institutes this summer to help teachers understand the science, as well as the costs and benefits, of producing electricity using renewable energy. The goal is to give teachers the knowledge and hands-on experience they need to explore topics related to solar power and wind power with their students and have a greater understanding of current energy issues. The two 4-day institutes cost $300 each. A limited number of scholarships are available through VEEP.

With vermont and four other states banning certain small-device batteries containing mercury and lead starting today, Maxell Corporation of America, the leading manufacturers of battery and data storage products, has announced the introduction of an environmentally advanced silver-oxide cell that successfully reduces the mercury and lead in the cathode material to zero, while maintaining a battery life comparable to conventional silver-oxide cells with the new zero-mercury, zero-lead added type.

Heritage Aviation, Inc has acquired the Atlantic Aviation FBO (Fixed Based Operator) at Burlington International Airport (KBTV). Operations at the location will be managed under the Heritage Aviation brand. Transient general aviation aircraft will be handled at Heritage Aviation’s existing South Ramp Facility. Heritage Aviation now offers nearly 100,000 square feet of heated hangar space.

There were 1,260 new regular benefit claims for Unemployment Insurance last week, an increase of 489 from the week before. Altogether 6,572 new and continuing claims were filed, a decrease of 544 from a week ago and 2,531 fewer than a year earlier. The Department also processed 1,644 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 44 fewer than a week ago. In addition, there were 796 Second Tier claims for benefits processed under the EUC08 program, which is a decrease of 27 from the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/. Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc
Vermont's unemployment rate increased one-tenth in May to 5.4 percent. See story HERE.

Draker Labs, a provider of high performance turnkey monitoring systems for large commercial and utility ‘ scale solar photovoltaic (PV) systems, recently completed a new round of equity funding. Harbor Light Capital Partners, a private investment firm based in Keene, NH, led the $3 million round. Other major participants included existing Draker investors FreshTracks Capital and Campbell Scientific. In addition to the equity investment, Draker has secured a new $1.5 million credit facility to help the company manage its working capital requirements.
As part of the new equity round, Todd Warden, Managing Partner at Harbor Light, was elected to Draker’s Board of Directors.

Vermont Agency of Natural Resources Secretary Deb Markowitz today presented 23 Vermont organizations and individuals with the 2011 Governor’s Award for Environmental Excellence. Honorees were recognized for their efforts to conserve and protect natural resources, prevent pollution, and promote environmental sustainability.
This year’s recipients by category are:
Environmental Excellence in Pollution Prevention - Projects that reduce or eliminate the generation of pollutants and wastes at the source including toxics use reduction (TUR) efforts.

The US Department of Labor today announced $83,941,360 in grants through the National Farmworker Jobs Program to combat the chronic unemployment and underemployment experienced by migrant and seasonal farmworkers who depend primarily on agricultural labor jobs. PathStone Corp of Jeffersonville received $190,798. A total of $78,253,180 will go to 52 organizations nationwide to provide training, employment and support services for farmworkers and their families. An additional $5,688,600 will go to 16 organizations to provide temporary or permanent housing assistance.
The National Farmworker Jobs Program helps eligible workers improve their agricultural job skills, and train for careers in emerging industries and occupations that offer higher wages and more stable employment. The program also offers services such as child care, health care and transportation assistance.

Three communities were awarded grants this week by the Vermont Downtown Development Board to fund local infrastructure improvements such as new sidewalks and signage.
The Vermont Downtown Development Board announced the awards totaling $108,423 for Brattleboro, Burlington, and Hartford (White River Junction). The funds, which are from the state’s Downtown Transportation Fund, are available to communities that are part of the Vermont Downtown Program. Established in 1994, the Vermont Downtown Program helps invest in the economic growth and cultural landscape of Vermont’s cities, villages and towns.
Awards were made to:
* Brattleboro - $15,600 to support improved directional, or ‘wayfinding’ signage. A total of 21 signs will be installed, guiding visitors to key destinations within Brattleboro’s Designated Downtown.

Vermont's congressional delegation ‘ Sen. Patrick Leahy (D), Sen. Bernie Sanders (I) and Rep. Peter Welch (D) ‘ and Gov. Peter Shumlin (D) on Thursday announced a $1.2 million National Emergency Grant (NEG) from the US Dept of Labor to create jobs for displaced workers and long-term unemployed Vermonters to help with flooding clean-up.
The grant of $1,201,250 being awarded to the Vermont Department of Labor will create about 75 temporary jobs for eligible dislocated workers to assist with clean-up and recovery efforts in all counties declared by the federal government as ‘disaster areas’ as a result of the effects of this spring's severe storms and flooding.
In a joint statement, Sen. Leahy, Sen. Sanders, Rep. Welch and Gov. Shumlin congratulated the Vermont Department of Labor for seeking innovative ways to help Vermonters and secure this funding.

US Senator Bernie Sanders (I-VT) learned today that the U.S. Department of Justice has no plans to intervene in a legal fight over the fate of the Vermont Yankee nuclear reactor at this time.
Sanders had urged Attorney General Eric Holder to stay out of a lawsuit filed in federal court in Vermont by Entergy Corp. The plant owner sued after the Vermont Senate last year voted 26-to-4 not to renew a state license for the 40-year-old, problem-plagued reactor.
‘While I recognize that it is the responsibility of the Department of Justice to monitor developments in all ongoing litigation, I am pleased that they have no plans to intervene and I am confident that the Department will see no reason to intervene in the future,’ Sanders said.

Winstanley Enterprises of Concord, Mass., has formally notified local officials of its plan to apply for a Certificate of Public Good to build a 25 to 35 megawatt renewable woodchip-burning electric generating plant at its existing industrial site located in North Springfield. The filing plan was announced on Monday in a letter from Chan Morgan, the project’s manager, to local officials. The Winstanley development team is targeting early October to file its petition with the Public Service Board.