Current News

Vermont Business Magazine Vermont Department of Corrections is reporting three incarcerated individuals at Northern State Correctional Facility (NSCF) in Newport tested positive for COVID-19 in testing conducted August 25 as a result of presenting with symptoms. The individuals live in a general population unit where a currently COVID-positive staff member worked, and where one other positive incarcerated case was detected from an August 23 test.

Vermont Business Magazine Attorney General TJ Donovan today filed a brief to appear in bankruptcy court in support of Koffee Kup Bakery. At issue is an involuntary bankruptcy petition filed by several creditors of Koffee Kup, which has resulted in a delay of paying former employees’ their collective balance of paid-time-off (PTO) amounting to $838,299 in total. In its brief, the State argues that the PTO should not be considered part of the bankruptcy case and should be paid now in accordance with a prior state court order that, last month, compelled the PTO payment.

Vermont Business Magazine The Vermont Department of Health is reporting today two more deaths from COVID-19 for a statewide total of 275. The VDH is also reporting 144 additional cases with 30 people hospitalized and four in the ICU. Cases remain elevated because of the Delta variant. At the beginning of the summer cases were running below 10 on many days with no deaths and few hospitalized. Now cases are typically over 100 with more than 25 hospitalized. The Department of Financial regulation has also revised its modeling this week on estimated deaths for August due to COVID. Previously it expected zero to 6 deaths. Now the modeling suggests up to 18 COVID fatalities, with 13 as of Thursday.

Vermont Business Magazine Yesterday’s Champlain College Opening Convocation ceremony honored Jane Lindholm, award-winning journalist, with its 2021 Distinguished Citizen Award for her significant contributions to the Vermont community. In its 60th year, the award recognizes leaders that have made a meaningful impact on their communities. Lindholm currently serves as host, executive producer, and creator of Vermont Public Radio’s "But Why: A Podcast For Curious Kids." She previously hosted the VPR's "Vermont Edition."

Vermont Business Magazine Vermont Department of Corrections (Vermont DOC) is reporting seven new positive cases of COVID-19. The one incarcerated individual at NSCF lives in a general population unit where a currently COVID-positive staff member worked. They, along with three other symptomatic individuals in the unit, have been moved to isolation and the remainder of the unit is now quarantined. The three individuals were tested on August 25; results are pending. Staff and incarcerated individuals will be tested on August 27.

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB) in Morrisville, and parent company of Union Bank,has completed a private placement of $16.5 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2031 to certain qualified institutional buyers and accredited investors. The notes will initially bear interest at 3.25% per year, payable semi-annually in arrears. Beginning September 1, 2026, through the maturity date or earlier redemption, the interest rate will reset quarterly based on the then current Three-Month Term SOFR plus 263 basis points, payable quarterly in arrears.

Vermont Business Magazine The Vermont Department of Health is reporting today two more deaths from COVID-19 for a statewide total of 273. Cases remain elevated because of the Delta variant. At the beginning of the summer cases were running below 10 on many days with no deaths and few hospitalized. The VDH also reported today that there were 141 additional cases with 33 people hospitalized and eight in the ICU.

​Vermont Business Magazine Governor Phil Scott today announced the Department of Disabilities, Aging and Independent Living (DAIL) is distributing $5 million to Vermont adult day centers to provide financial stability after an extended shut down due to COVID-19. This investment is made with funds from the American Rescue Plan Act (ARPA) State Fiscal Recovery fund, allocated by the Legislature in the Fiscal Year 2022 budget.

Vermont Business Magazine Burlington-based DealerPolicy, the leading insurance marketplace for automotive retail, today announced its $110 million Series C investment led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) with participation from existing investors including 3L Capital and Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda). The new investment will be used to accelerate the growth of the company's next-generation finance and insurance (F&I) offerings for both dealers and car buyers.

Vermont Business Magazine The northern New England law firm Downs Rachlin Martin PLLC (DRM) has received top rankings from Chambers USA 2021, a leading independent evaluator of US lawyers. Chambers named each of DRM’s Corporate/Commercial, Intellectual Property, Labor and Employment, and Commercial Litigation practices as the highest ranked practices in Vermont. DRM’s Real Estate practice also received accolades for its broad range of expertise.

Vermont Business Magazine Vail Resorts today announced the opening dates of its 34 North American resorts, including the three in Vermont. Mt Snow and Stowe Mountain resorts are scheduled to open Friday, November 19, with Okemo opening the following day. All Vail resort openings are listed below. Vail said in a statement that it is offering guests one of the longest ski seasons in the country with a focus on safety and the guest experience.

Vermont Business Magazine Today, two organizations that exist to serve Addison County residents joined forces, with the shared goal of delivering fiber optic broadband internet access to every address in Maple Broadband’s member towns. Waitsfield and Champlain Valley Telecom offers its extensive technical and management experience to the effort. Maple Broadband is one of the state’s relatively new Communications Union Districts.