Current News

Otelco Inc (NASDAQ: OTT) (TSX: OTT.un), a wireline telecommunication services provider in Alabama, Maine, Massachusetts, Missouri, New Hampshire and West Virginia, has announced that it has completed its previously announced acquisition of Shoreham Telephone Company, Inc. for approximately $4.5 million in cash, plus certain purchase price adjustments.
‘We are excited to add Shoreham and Vermont to our service area in New England,’ said Mike Weaver, President and Chief Executive Officer of Otelco. ‘Shoreham has similar roots to Otelco as a rural wireline telecommunications services provider. This year, they have substantially improved their broadband offering with significant capital investment. We expect to expand from Shoreham’s base in central Vermont to bring new and creative services through our OTT Communications team to other Vermont businesses. Clearly, this demonstrates our commitment to continue to grow our presence and impact in New England.’

For his work to understand how to build better robots, Joshua Bongard, a researcher at the University of Vermont, received Friday the highest award given by the US government to young scientists.
President Barack Obama announced Bongard as one of 94 winners of the Presidential Early Career Award for Scientists and Engineers on Sept. 26.
Bongard received the award today at a ceremony at the White House. Bongard is only the second researcher in UVM history to receive the PECASE award, which provides $500,000 in research funds over several years.

The US Small Business Administration announced the opening of an additional recovery center in White River Junction on Monday, Oct. 17 at 8 a.m. to assist individuals and businesses affected by Tropical Storm Irene.
The hours of operation for the new and existing Centers are Monday through Saturday from 8 a.m. to 5 p.m., until further notice. The Centers are located in the following communities:
Windham County
Brattleboro Development Credit Corp.
72 Cotton Mill Hill ‘ 2nd Floor
Brattleboro, VT 05301
Windsor County
Town of Hartford Building
171 Bridge Street
White River Junction, VT 05001
Opens: Monday, Oct. 17 at 8 a.m.
Springfield Development Corp.
14 Clinton Street
Springfield, VT 05156

A Milton, Vermont, oil distributor has settled a Clean Water Act violation with the US Environmental Protection Agency. According to the settlement announced October 11, Rowley Fuels failed to take adequate precautions meant to prevent and contain oil spills.
Specifically, EPA alleged that Rowley Fuels failed to adequately prepare and maintain a Spill Prevention, Control, and Countermeasure plan, known as an SPCC plan, at the company’s Alburgh, Vt. facility. The complaint was based on an inspection by EPA staff. Because of the facility’s proximity to surface waters and a municipal stormwater drain system, which both drain into Lake Champlain, a fuel-oil spill at the facility could result in fuel-oil being discharged into Lake Champlain. The company has since come into compliance with SPCC requirements.

The new federal Nonadmitted and Reinsurance Reform Act (NRRA), often referred to as the Dodd Frank Act, has no applicability to captive insurance. That is the conclusion of an independent white paper prepared for the Vermont Captive Insurance Association (VCIA) by the law firm of McIntyre and Lemon, PLLC of Washington, DC.
‘Both the language of the legislation itself and the legislative intent are clear that the law was meant to apply only to the surplus lines market ‘ not captive insurance,’ said Dave Provost, Deputy Commissioner of Captive Insurance.
A consortium of the VCIA, the Captive Insurance Companies Association and the National Risk Retention Association agreed with the conclusion of the white paper. ‘There was no intent to have NRRA encompass captive insurance,’ said Rich Smith, President of the Vermont Captive Insurance Association.

A UVM alumnus and his family have pledged $1 million to support scholarships at the University of Vermont and are challenging others to join them in continuing to build a tradition of giving at UVM.
Donald "Don" H. McCree, UVM class of 1983 and his wife, Gabrielle "Gabby" McCree, started their own family’s tradition in 2006 when they established the McCree Family Scholarship Fund with a half-million-dollar gift. The fund provides annual scholarships based on financial need, academic achievement, and involvement in community service. Their goal, they said then, was to "provide an opportunity to students to attend The University of Vermont to receive an educational experience that prepares them to be leaders in their professional pursuits as well as in their communities."

There were 810 new regular benefit claims for Unemployment Insurance last week. This is an increase of 238 from the week before, as new claims increased for the first time since the aftermath of Tropical Storm Irene. The week prior to the storm saw a seasonal low of fewer than 500 claims. Altogether 5,80 new and continuing claims were filed, an increase of 103 from a week ago and 1,570 fewer than a year earlier. The Department also processed 1,394 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 18 fewer than a week ago. In addition, there were 739 Second Tier claims for benefits processed under the EUC08 program, which is 17 more than 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

State Auditor Tom Salmon, CPA, would like to remind municipalities, schools and non-profit organizations who may be eligible for FEMA assistance that the one-page ‘Request for Public Assistance’ form (Form 90-49) must be submitted by the close of business Monday, October 17. This a simple one page form that must be submitted, even if you don't know your DUNs number.
The Request for Public Assistance Form (RPA) may be found at: http://www.fema.gov/library/viewRecord.do?id=2690 and should be submitted to Alec Portalupi at the Vermont Agency of Transportation. He can be contacted by phone at 802-828-3889 or by e-mail at [email protected]. You may fax the form to 802-828-2848.

Larry Sudbay, President and Chief Executive Officer of SymQuest Group, the region’s leading provider of network and document technology solutions and services, announced that SymQuest’s sixteenth annual golf tournament raised $3,900 for The Stern Center. The tournament was held at the Rutland Country Club on Tuesday, September 27, 2011.
Originally slated to be held in Woodstock, the venue had to change due to course damage sustained in hurricane Irene. Rutland Country Club was able to host the event and SymQuest determined that they could use their event to honor The Stern Center and help the area of Rutland County at the same time.

The Vermont Superior Court, Chittenden Unit, ordered former junkyard owner Gilbert Rhoades to clean-up the Milton site following its finding of environmental violations earlier this year, including removal of all tires at the site within 90 days. The Court ordered Rhoades to pay $20,000 in civil penalties and Rhoades and his wife, Blanche Rhoades, to reimburse the State $24,857.58 for past investigative costs. The Court’s ruling follows a May 11th hearing in an environmental enforcement action brought by the Attorney General’s Office based on inspections by the Vermont Agency of Natural Resources.
‘This ruling sends a strong message that, although salvage yards can provide valuable services to the community, owners of such operations must follow Vermont’s environmental laws and operate in a safe manner,’ said Attorney General William H Sorrell.
In addition to ordering the removal of all tires at the site within 90 days, the Court ordered:

Golfers participating in the 10th Annual CVMC Fall Foliage Charity Golf Classic were treated to a spectacular fall day at the Country Club of Vermont in Waterbury. The tournament raised close to $15,000 for cancer care services at Central Vermont Medical Center.
With the opening of the National Life Cancer Treatment Center in the fall of 2009, this addition of radiation therapy to all of our existing diagnostic, surgical and medical oncology services means that cancer patients in central Vermont now have access to comprehensive cancer care’including many critical patient support services’right here in their own community.

Champlain Valley Office of Economic Opportunity (CVOEO) announced today the launch of a new program that will provide financial coaching and education, along with access to a secured credit card, to Northwest and Central Vermont-area microentrepreneurs whose credit profiles need strengthening to qualify for business financing. The program is part of the Asset Building Through Credit pilot program, a research effort by the Aspen Institute that will study a multidimensional approach for building credit and financial opportunities for aspiring low-income entrepreneurs in five markets nationwide. Central Vermont Community Action Council (CVCAC) will be partnering with CVOEO to provide program services in Central Vermont counties.