Current News

Randolph National Bank, the White River Valley’s Hometown Bank, recently donated $1,300 to six local towns severely damaged by flooding during Irene. The money was raised during one of the bank’s ‘Jeans Day’, in which bank staff make a small donation for the privilege of trading pinstripes for blue jeans.
On Jeans Day on September 2nd, the usual $5donation was waived in favor of a ‘free’ jeans day, with the bank encouraging those employees who could to donate whatever they wanted with the promise of matching funds from RNB. Staffers from across the bank’s network of eight offices stepped up to the challenge to collect the $1,300.
In addition to making the cash donations, bank employees gave generously with time, supplies and money to their communities and neighbors.
The funds were split between the following organizations:

Waitsfield, Vermont-based Resort Maps, creator of more than 100 hand-drawn travel maps across the United States, Canada, England, Costa Rica and Puerto Rico, recently announced its acquisition of Discovery Map International of La Conner, Washington. The acquisition unites two of the leading publishers of illustrated maps in the United States. Both companies have published colorful hand-drawn free visitor maps of popular destinations for more than 25 years.

A recent fundraiser in New York City, organized by former Vermonters, brought over $12,000 for Irene relief here at home. Blue Man Group supported this ‘I VT NY’ event which was conceived by two Vermonters who are now members of the troupe--Isaac Eddy and Zea Barker. The money they raised will be shared between the Vermont Farm Disaster Relief Fund and the Vermont Disaster Relief Fund.
The huge Brooklyn Bowl complex hosted the evening while Amanda Palmer, an eclectic and very popular rocker in the cabaret and ‘Brechtian’ vein stepped up as headliner. A showcase of Vermont products supported the cause with donations from businesses as diverse as Burton Snowboards, Sugarbush Resort, Courierware, WhistlePig Whiskey, Quaker Hill Granola, Vermont Creamery, and The Center for Cartoon Studies. The Cabot Creamery Cooperative of Vermont came aboard as a major sponsor.

Today, Agency of Natural Resources (ANR) Secretary Deb Markowitz announced that Vermont was joining a regional effort to open Vermont up to electric vehicles, through the Northeast Electric Vehicle Network (Network). The Network is a product of the Transportation and Climate Initiative of the mid-Atlantic and Northeast States (TCI). TCI is a partnership of the region's state energy, environmental and transportation agencies working to address transportation-related emissions, and energy security.

Vermont ranked fifth in a national survey of energy efficiency, as Massachusetts supplanted perennial leader California and New York State finished third. A sour US economy, tight state budgets, and a failure by Congress to adopt a comprehensive energy strategy have not slowed the growing momentum among US states toward increased energy efficiency, according to the fifth edition of the annual ACEEE State Energy Efficiency Scorecard released today by the American Council for an Energy-Efficient Economy (ACEEE) during a National Press Club news conference.

Governor Shumlin will be among several dignitaries to cut the ribbon at the First Wind, 40 megawatt Sheffield Wind project in Vermont’s Northeast Kingdom on Wednesday October 26 at 11 am. The Sheffield project is Vermont’s first utility-scale wind energy project. The project will generate enough power for more than 14,000 Vermont homes, or nearly half of the homes in the Northeast Kingdom. The power generated by the project will be sold to Burlington Electric Department (BED), the Vermont Electric Cooperative, Inc (VEC) and the Washington Electric Cooperative, Inc. (WEC) under power purchase agreements.
Later on the same day in nearby East Burke, Burke Mountain Ski Area will celebrate its new wind turbine, manufactured by Barre-based Northern Power Systems. The Northwind 100 turbine at Burke is expected to produce close to 20 percent of the ski resort's power needs. Governor Shumlin is slated to speak at both ribbon cutting events.

Republican mayoral candidate Kurt Wright dropped the first bomb shell of the Burlington mayoral race yesterday with his suggestion that the city should sell the Burlington Electric Department. Wright explained that the sale would help pay for mounting debt in the city’s largest city, in particular a looming $50 million shortfall in the pension fun, a $17 million budget deficit and the on-going mess with Burlington Telecom, which along with being a financial failure to date is dragging the city’s, BED’s and Burlington International Airport’s credit rating down with it.
Wright, a state representative and former chairman of the City Council, emphasized that this would not be a ‘fire sale.’ He said BED is a valuable city asset. If the city could not get a reasonable price, then it should not be sold. He said the utility could fetch more than $100 million net of debt and go a long way toward restory the city's financial situation.

By Timothy McQuiston. A prominent Vermont state senator is asking to be an intervener before the Public Service Board over the merger of Central Vermont Public Service into Green Mountain Power. But that is hardly all Vince Illuzzi wants.
The long-serving Republican wants the PSB to appoint an independent counsel to act as the public’s advocate in the merger case (Docket Number 7770) instead of Department of Public Service Commissioner Liz Miller. The DPS typically acts as the public’s advocate before the regulatory body. He also wants Vermont Electric Power Company in some way separated from control by the new entity.

Governor Peter Shumlin today reminded Vermonters of the upcoming Clean Up Day events on Saturday, and applauded the effort already underway to make this first annual event ‘ a massive statewide push to help Vermonters slammed by Tropical Storm Irene get their homes and lives in order for winter ‘ a success. In addition, the Governor stressed that heavy equipment, dumpsters, dump trucks and chainsaws are still needed for projects.
‘Hosted and organized locally in communities around the state, Clean Up Day is reflective of the community strength and commitment to rebuilding that significantly advanced our initial recovery,’ Governor Shumlin said. ‘On the wish list at the moment are the heavy equipment requests. Communities need dumpsters, dump trucks and other heavy equipment for clean up work. My pitch: If you’ve got this equipment, we hope you’ll help out on Saturday.’

Union Bankshares, Inc (NASDAQ ‘ UNB) today announced Net Income for the third quarter 2011 of $1.4 million, or $0.32 per share, compared to $1.5 million, or $0.32 per share, for 2010. Results for the third quarter of 2011 reflect a $0.01 earnings per share decrease due to direct acquisition expenses incurred during the quarter related to the May 27, 2011 purchase of branches in Grafton, Littleton and North Woodstock, New Hampshire. There was an increase in the net interest income for the quarter of $405 thousand, or 8.6%, an increase in noninterest income of $455 thousand, or 29.2%, a decrease in the loan loss provision of $50 thousand, or 25.0% and a decrease in income tax expense of $64 thousand, or 14/1%. These positive factors were offset by the direct acquisition expenses of $63 thousand and a $939 thousand, or 22.7% increase in other operating expenses.

One of the unexpected consequences of Tropical Storm Irene is the cancellation of the personal firewood lottery for the 2012 season by the VT Department of Forests, Parks and Recreation (FPR).
The popular program allows Vermonters to cut up to three cords of designated standing trees for personal use firewood from state lands for $10/cord. The trees are measured and marked by FPR staff, as groups of hardwoods close to State Forest Highways to make cutting and hauling by hand easier.
Safety is an important concern in both the planning and access of these firewood areas. As FPR staff assessed the impact of Irene on roads and trails, it was discovered that areas scheduled for firewood cutting have been heavily impacted as far as accessibility and safety of roads and bridges. Some of these areas will be repaired in the construction season of 2012, which will present further conflicts for access on narrow forest roads.

Seventh Generation, the country's leading innovator of non-toxic and renewable household solutions and the number one "green" brand in America, has been named a 2011 Leader for Change by the United Nations and the Foundation for Social Change. The award was accepted by Seventh Generation CEO John Replogle at a special presentation at the United Nations Global Conference for Social Change in New York City.
Replogle elaborated on the company's mission to embrace a triple bottom line that balances people, planet and profit in an interview with event moderator and New York Times editor, Jane Bornemeier.