Current News
by tim
With the Mountain West in the strongest position, Vermont continues to have the lowest foreclosure rate east of the Mississippi. However, Vermont's foreclosure and delinquency percentages both rose in December from November (2.9 percent to 3 percent and 8.1 percent to 8.3 percent respectively, see table below).
The December 2010 Mortgage Monitor report released by Lender Processing Services, Inc (NYSE: LPS) shows a continued increase in the inventory of foreclosed mortgages in the United States as more loans advance through the default process. The number of newly delinquent loans declined during 2010, helping push overall delinquent inventories down 18 percent for the year. The volume of loans moving to REO (real estate owned by lenders - repossessed) remains extremely low as moratoria and process reviews continue, further pressuring foreclosure inventories.
by tim
Growth is on the horizon as Gordon’s Window Décor, a local family business that has been manufacturing custom window treatments in Essex Junction for 25 years, transitions to the next generation..
‘I think our growth is due to the fact that we manufacture insulating window shades that save substantial amounts of energy- a vital component in our country’s efforts to cut our dependence on fossil fuels’ Explains Gordon Clements, owner of Gordon’s Window Décor.
And grow they have. With distribution now well established in Ireland, as well as across the US, similar interest from Russia and recent sales in Japan Gordon’s has been hiring and just bought a larger factory/showroom in Williston. They will be moving at the end of March. That is a lot of change for any company especially combined with serious succession planning. It has truly been a busy year for Gordon’s.
by tim
The Pentagon awarded $285 billion in three years to companies that defrauded it, according to a report produced at the request of Sen. Bernie Sanders (I-Vt.). The study has generated editorials and columns in newspapers and magazines around the county.
‘The dollar amounts are large enough to justify public anger at the sloppy way the Pentagon conducts its ‘ our nation’s ‘ business. If our government’s going to spend all that money on behalf of military preparedness, at least the people should get their money’s worth,’ the Barre and Montpelier Times Argus said in an editorial.
‘Fraud is big business at the Pentagon. Always has been, always will be. When you're spending more than $1 million a minute, some is bound to be pilfered one way or another. But it's rare to find all such chicanery cataloged in one place. Thanks to Sen. Sanders we now have one-stop shopping for Pentagon fraud,’ according to Time magazine.
by tim
Appellants filed a notice of appeal to the Vermont Supreme Court of the
rulings by the Vermont Environmental Court to reaffirm a stormwater
construction permit for UPC Vermont Wind’s Sheffield project.
‘It is our belief that the Environmental Court’s rulings are based on
critical misinterpretations and applications of Vermont laws involving the
Water Quality Standards (VWQS) and the issue of who has the burden of
proof,’ said Stephanie Kaplan, attorney for the appellants. ‘The
decision is inconsistent with Vermont legal precedent, with legislative
intent, and if allowed to stand eviscerates the VWQS when it comes to
stormwater, which cannot be permissible under the Clean Water Act.’
The citizens argue that the most significant error the Court made was
ruling that monitoring of streams during construction and applying the
numerical standards and anti-degradation requirements of the VWQS are not
by tim
At Granite Industries of Vermont, a business recognized for its commitment to the Vermont National Guard, Representative Peter Welch on Monday unveiled new legislation to encourage Vermont businesses to hire veterans.
The Veterans Employment Tax Credit Act, which Welch will introduce in the U.S. House this week, would provide a $2,400 tax credit to businesses that hire veterans who have been unemployed for at least four weeks. A similar tax credit was included in the American Recovery and Reinvestment Act, but lapsed at the close of 2010.
by tim
Harbour Industries, which that makes wires and cables, has been ordered by EPA to pay a $123,840 penalty for violating its Clean Air Act permit over a period of three years. The Shelburne company manufactures high performance wire and cable through processes that emit volatile organic compounds. The company operates a gas-fired regenerative thermal oxidizer to control these emissions.
According to EPA, Harbour violated its permit in 2008, 2009, and 2010 by failing to use an approved method to show it was complying with its volatile organic compounds (VOC) limit of 50 tons a year, and by failing to develop and submit for approval an operation and maintenance plan for the oxidizer meant to control emissions. The facility was operating in violation of a permit that is issued by the Vermont Department of Environmental Conservation. The conditions of this permit can be enforced both by the state and EPA.
by tim
Central Vermont Public Service (NYSE-CV) met all of its service quality standards in 2010, the seventh straight year the company achieved that goal ‘ the best record in Vermont.
‘Service quality and reliability are critical to our customers and drive us every day,’ President Bob Young said. ‘Employees make a tremendous effort to provide customers with high-quality service, and they measure that effort every day through our SERVE standards.’
by tim
Vermont Technical College, in partnership with the Vermont Flight Academy, is pleased to announce the opening of a new Bachelor of Science degree program in Aviation: Professional Pilot Technology. The program will begin admitting students in the fall of 2011 and will bring to 12 the number of bachelor’s degrees offered by the school.
According to Brent Sargent, Dean of Vermont Tech’s Williston campus, a degree in Professional Pilot Technology will provide graduates with a comprehensive understanding of the sciences and technologies involved in aviation, and the communication skills necessary to perform and compete in the aviation industry.
by tim
Tuesday, February 8th, Burlington-based Bruegger's Bagels, with 300 locations across the US, will celebrate National Bagel Day by offering three free bagels to its guests. (A coupon is required and can be accessed by "liking" Bruegger's Facebook page.)
Along with National Bagel Day (celebrated nationally on February 9), the month also marks Bruegger's anniversary. In February 1983, it opened its first bakery in Troy, New York, offering fresh-baked bagels all day. To bring attention to the month - and delicious, fresh-baked bagels - Bruegger's asked more than 150,000 bagel fans, through email and Facebook, to name their favorite bagel combinations and where they like to eat the perfect, fresh-from-the-oven delight. Bagel fans clamored to offer their opinion (and get a coupon!) -- nearly 40,000 bagel-lovers responded to the survey and Bruegger's Facebook page added thousands of fans. Survey results are below.
by tim
The Vermont Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) announced today that Susan Donegan will be joining the Department as Deputy Commissioner of Insurance on February 14.
Donegan comes to BISHCA from the Massachusetts Insurance Division, where she served as Counsel to the Commissioner and Hearing Officer. Donegan holds legal degrees from Vermont Law School, Boston University School of Law and the University Van Amsterdam in the Netherlands.
During her distinguished legal career, Ms. Donegan has worked extensively with the insurance, securities and financial sectors, and brings years of industry experience to her position at BISHCA. Donegan is also an authority on information technology and privacy law, is a member of the American Arbitration Association, and gives of her time and legal expertise by providing pro bono legal services to several non-profit organizations.
by tim
In an open letter to Governor Shumlin, leading organizations representing industry, labor, and energy stakeholders today expressed concern about the closing window of opportunity to allow the Public Service Board to complete its docket on Vermont Yankee's continued operation beyond 2012, and the serious economic consequences for Vermont if the plant is not allowed to operate under a renewed license.
Absent realistic and viable alternatives for more affordable and reliable power, Associated Industries of Vermont, the International Brotherhood of Electrical Workers, and the Vermont Energy Partnership urged Governor Shumlin to work with the Legislature and allow the Public Service Board to complete its outstanding docket on relicensing and determine whether continued operation of Vermont Yankee is it the best interest of the state.
The text of the open letter follows:
An Open Letter to Governor Shumlin
February 3, 2011
Dear Governor Shumlin:
by tim
The Vermont office of the US Small Business Administration has issued lending results for the period ending January 31, 2011. Total loan volume was $32,837,900. People's United issued the most SBA guaranteed loans at 31 loans and had the greatest total value at $8,142,400. Community National Bank was second with 17 loans valued at $4,592,300.
SBA, MONTPELIER, VERMONT DO #0150
January 1, 2011 --January 31, 2011
LOAN VOLUME BY BANK BY NUMBER OF APPROVALS
#
$$
Community National Bank
3
825,000
Greenfield Savings Bank
2
120,000