Current News

Vermont Business Magazine Federal Reserve Bank of Boston President Eric Rosengren and Vermont Governor Phil Scott today announced the Boston Fed and State of Vermont will collaborate to launch the Working Communities Challenge, an initiative aimed at strengthening Vermont’s rural towns and smaller cities. The challenge works to create economic opportunity for lower-income regions and residents by supporting collaborative efforts that build vibrant, healthy economies and communities. This unique three-year grant competition is sponsored by the Boston Fed, the State of Vermont, national and local philanthropy and private sector employers.

Vermont Business Magazine On May 15, the National Endowment for the Arts (NEA) announced its second round of funding for fiscal year 2019 (FY2019). Ten Vermont organizations will receive grants through the Art Works program. The Vermont Arts Council will receive $724,300 to support arts programs, services, and activities associated with carrying out the agency's National Endowment for the Arts-approved strategic plan.

“Public support for the arts is a vital part of a thriving democracy–and one that seems more important with each passing day,” said Karen Mittelman, Vermont Arts Council executive director. “We congratulate the nine Vermont arts organizations that were recognized by the NEA for their outstanding work. We are also proud that NEA’s support of the Arts Council is matched dollar for dollar by the Vermont state legislature, enabling us to bring the power and inspiration of art and creativity to every Vermont community.”

Vermont Business Magazine The Quechee Hot Air Balloon Craft and Music Festival, the longest running hot air balloon festival in New England, will celebrate its 40^th anniversary in 2019 when thousands are expected to flock to central Vermont, June 14-16, 2019 (Father’s Day weekend). More than 20 balloonists headline the event with five flights slated throughout the weekend and additional tethered rides during the day.

Attendees can visit with 70 craft vendors, indulge in a variety of fare from 16 food vendors and sit back and enjoy dozens of entertainers for all ages, over the three-day extravaganza. Children’s activities include Euro Bungee, Ninja Warrior Obstacle Course, Rock Climbing wall, bounce house and more. And a variety of festival favorites and new food offerings with local healthy options and a beer and wine garden are planned.

Vermont Business Magazine The Boys & Girls Club of Burlington awarded $80,000 in scholarships to 41 Club members on Thursday, May 16th as part of the Annual Pomerleau Scholarship Awards. The event celebrated the achievements of these hardworking students and the powerful legacy of Tony Pomerleau’s philanthropic work in the community being continued by his family.

Vermont Business Magazine Senator Bernie Sanders (I-Vermont) led a bicameral group of lawmakers in introducing the Opioid Crisis Accountability and Results Act, as Vermont Attorney General T J Donovan announced a lawsuit today against former Purdue Pharma CEO Richard Sackler and seven family members who served on Purdue’s Board of Directors for deliberately misrepresenting the risks of the drug OxyContin.

Vermont Business Magazine Attorney General TJ Donovan has sued eight members of the Sackler family, owners of Purdue Pharma LP, makers of the opioid OxyContin, among others. The lawsuit alleges that for over two decades the Sacklers personally oversaw Purdue’s deceptive marketing campaign. They directed Purdue’s strategy to minimize the health risks of opioids, claiming that prescription drugs were rarely the cause of abuse, addiction, or death. The Sacklers also directed Purdue to promote higher dose products, which were more lucrative -- and more dangerous and addictive.

by Brandon Arcari, Vermont Business Magazine The University of Vermont Medical Center will open its new Miller inpatient building June 1, making available hundreds of new beds in private rooms to improve patient privacy. The project, costing an estimated $187 million, is the first major upgrade to the Medical Center’s inpatient facilities since the mid 1980s, adding 128 new patient rooms. Patient privacy upgrades mean that almost 90 percent of patients will have a private room with a bathroom, as opposed to the prior 30 percent.

Vermont Department of Public Safety Vermont Route 108 between Cambridge and Stowe, commonly known as Smugglers’ Notch, has reopened to traffic. Route 108 was closed due to a tractor-trailer that was stuck and blocking the road late morning Tuesday. Traffic was stopped from both the Cambridge and Stowe sides. Vermont DMV assisted with the tractor-trailer, no further details are yet available.

Driver ticketed after tractor-trailer gets stuck in the Notch 

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Vermont Business Magazine Mt Ascutney Hospital and Health Center (MAHHC) recently hosted a gathering of employees and friends at its second annual Nurses Week Awards, which recognizes nursing professionals who go above and beyond for their patients and colleagues. The event was held as part of National Nurses Week, which was celebrated from May 6 to May 12.

by Timothy McQuiston, Vermont Business Magazine National Life has released its 2018 Annual Report, which highlights a record-setting year on the company’s 170th anniversary, as life insurance sales have more than tripled over the last decade and its renowned foundation budget has reached $2 million. Revenues in 2018 were $1.9 billion compared to $2.3 billion in 2017. Net income was $150.1 million versus $260 million. Total assets were $30.4 billion versus $30.2 billion.

Vermont Business Magazine Newly released child care and school immunization data from the Vermont Department of Health shows that while a high number of Vermont children in child care and school have received all their required vaccines, a significant number of children are under-vaccinated – creating a danger that vaccine-preventable diseases like measles can take hold and spread

Vermont Business Magazine When it comes to inpatient treatment of a range of mental health and mood disorders — from anxiety and depression to schizophrenia, suicidality and acute psychotic episodes — a new study suggests that physical exercise is so effective at alleviating patient symptoms that it could reduce patients’ time admitted to acute facilities and reliance on psychotropic medications.

“The general attitude of medicine is that you treat the primary problem first, and exercise was never considered to be a life or death treatment option. Now that we know it’s so effective, it can become as fundamental as pharmacological intervention,” explains David Tomasi, a lecturer at the University of Vermont, psychotherapist and inpatient psychiatry group therapist at the University of Vermont Medical Center and lead researcher of the study.