Current News

The Vermont Business Magazine (VBM), in partnership with the Vermont Chamber of Commerce (VCC), has established a Vermont Business Hall of Fame to be hosted at the University of Vermont's College of Business Administration. Each past winner of the Deane C Davis Award will be honored as a new member of the Hall of Fame with an induction ceremony. The first such ceremony was Tuesday night at UVM's Kalkin Hall.
The Deane C Davis Outstanding Vermont Business of the Year Award is presented annually by the Vermont Chamber of Commerce and Vermont Business Magazine at the opening ceremonies of the Vermont Chamber's Business & Industry EXPO. This year the award was presented Wednesday morning to BioTek Instruments of Winooski. Other finalists were the Foley Family of Companies of Rutland, and Small Dog Electronics of Waitsfield.

This morning at the Opening Ceremonies of the Vermont Business & Industry EXPO, organized by the Vermont Chamber of Commerce, Governor Jim Douglas presented the highly anticipated Deane C Davis Outstanding Vermont Business of the Year Award to BioTek Instruments, Inc of Winooski. BioTek is the 20th winner of this annual award that was conceived by Vermont Business Magazine and the Chamber in 1990.
In an effort to recognize and honor Vermont s best companies, the Vermont Chamber of Commerce and Vermont Business Magazine created the Deane C. Davis Outstanding Business of the Year Award in 1990. Named for the former Governor of Vermont, this annual award honors a Vermont business that shows an outstanding history of sustained growth while displaying an acute awareness of what makes Vermont unique.

Washington, DC and Burlington, VT, May 26, 2010 Kiplinger s Personal Finance announced today that it has named Burlington one of its 10 Best Cities for the Next Decade with a focus on locales that specialize in innovative thinking. This year s picks are profiled in the July issue of Kiplinger s Personal Finance magazine, on newsstands June 8, and online now at www.kiplinger.com/links/bestcities with additional interactive features.
To identify the winners, Kiplinger s teamed up with Kevin Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity. New ideas generate new businesses, says Stolarick, who this year evaluated U.S. cities for growth and growth potential. In the places where innovation works, it really works. People in fields such as science, engineering, architecture, and education are catalysts of vitality and livability in a city.

South Burlington resident, Michele S. Gatto, President of the Association of Life Insurance Counsel (ALIC), was host to the Association s 148th Annual Meeting at Château à lan Resort outside of Atlanta, Georgia May 22-25, 2010.

The Annual Meeting theme: Charting the Future Amidst Challenge & Change: New Rules, New Regulation and New Risks has been an integral component in Gatto s leadership at the ALIC.

Michele has proven to be accomplished in her ability to reach goals and ensure the organization s stability and depth, comments Karen Shaff, Executive Vice President and General Counsel of Principal Financial Group and Past President of ALIC. She has substantially preserved and enhanced the hallmarks of the ALIC: professionalism, legal scholarship, and fellowship. The ALIC was founded in 1913 to promote these principles as the bar association for lawyers in the life insurance industry.

BARRE, Vermont -- (BUSINESS WIRE)--Rock of Ages Corporation (NASDAQ:ROAC) today announced that a purported shareholder of Rock of Ages has commenced a purported class action lawsuit against Rock of Ages, all of the members of its Board of Directors and certain officers, and Swenson Granite Company, LLC ("Swenson"), in connection with the previously announced acquisition proposal submitted by Swenson on May 6, 2010 to Rock of Ages' Board of Directors. The plaintiff alleges, among other things, that the directors and named officer defendants of Rock of Ages breached their fiduciary duties in connection with the Swenson proposal, that Swenson's proposed offer is inadequate, and that the persons constituting a group with Swenson with respect to the Swenson proposal, including Rock of Ages' controlling shareholders, would benefit from the proposed transaction to the detriment of Rock of Ages' other shareholders.

A key ingredient to success – in banking and in business – is building personal, face-to-face relationships with people. And the goal of the VermontMatters.com Website has always been to celebrate some of the many meaningful banking relationships Vermont’s only statewide independent bank has nurtured over the years.
Apparently, this approach rings true with more than just Vermonters. It has struck a chord with the leading financial marketers in America. At the 16th Annual FCS Annual Portfolio Awards, held on Thursday, May 13, the Financial Communications Society (FCS) recognized 28 financial services providers for excellence in their marketing.
From the hundreds and hundreds of entries, the winners list included an impressive array of the largest and most successful financial organizations in America. Fidelity Investments, MetLife, Allstate and American Express were among those recognized.

Burlington College announced Monday that it will purchase the 32-acre North Avenue property from the Roman Catholic Diocese of Burlington. After months of discussions and negotiations, the College and the Diocese have signed a Purchase & Sales Agreement to close on the property within a year and to make it Burlington College s new campus.
This will be truly transformative for the College, said Burlington College President, Dr Jane O Meara Sanders. This new campus will enable us to broaden our academic offerings. We will be able to design editing suites, soundstages and studios for our popular film and photography majors. We will expand our art and music offerings. Our environmental studies, lake ecology and sustainability courses will have a living classroom. We will be able to offer many more events, art openings and guest speakers all open to the community on our own campus. The opportunities are limitless.

Vermont’s candidates for Governor will take questions from business leaders on the critical issues facing businesses during the “Meet the Candidates” Luncheon at the Vermont Business and Industry EXPO, Thursday, May 27 from 12 noon – 2 pm in the Diamond Ballroom at the Sheraton Burlington Hotel & Conference Center. Come hear what candidates have to say about job creation, taxes, energy, the economy, health care, and more.Candidates in attendance will include: Republican candidate Brian Dubie, Democratic candidates Susan Bartlett, Deborah Markowitz, Doug Racine, Matt Dunne, Peter Shumlin, and Independent candidate Dennis Steele. “This gubernatorial forum is important for Vermont employers to hear where the candidates stand on business issues,” said Betsy Bishop, President of the Vermont Chamber of Commerce.

Unlike last year when Vermont Governor Jim Douglas vetoed the budget the Legislature handed him, only to have lawmakers override his veto in a special session in June, the 2011 $4.7 billion budget was signed by the governor in May, with praise coming from him and his former antagonists.
“The economic upheaval Vermonters have experienced has contributed to serious troubles in our state’s fiscal situation. But despite these challenges, we can feel good about the work done here, under the Golden Dome, in 2010,” Douglas said in his adjournment address. “While other states are cutting programs and raising taxes in response to the fiscal crisis, Vermont, I am proud to say, is moving in a different direction. We are looking toward the future and striving for economic success.”

The Windsor County Superior Court has held John Hennessey of Chester, Vermont, liable for $10,000 in civil penalties for operating a junkyard without a license and violating the state’s Solid Waste Management Rules and Hazardous Waste Management Regulations.
The Vermont Attorney General’s Office requested penalties for these violations as part of an environmental enforcement action against Hennessey. The Court issued a judgment order following a hearing.
“Salvage yard operators must comply with state laws governing salvage operations, including the state’s environmental rules for handling wastes and hazardous materials,” said Attorney General William H. Sorrell. “Those who do not, especially those who do not correct violations of these requirements promptly, will face penalties,” he added.

Vermont Attorney General William H Sorrell is warning local homeowners in financial distress to avoid offers of quick fixes for their mortgage or foreclosure problems. A series of recent consumer complaints to his office have focused attention on out-of-state companies, many of them in California, promising to “reduce your mortgage,” “lower your monthly house payments,” “get past due payments eliminated,” “stop foreclosure,” and similar claims.
In fact, these “foreclosure rescue scams” have collected amounts from consumers in the $1,000-to-$2,500 range but have done nothing to assist homeowners. To make matters worse, it has generally been difficult to recover consumers’ funds, because the companies are often out of business by the time the investigation is begun.

Early this morning (May 24, 2010), Vermont Yankee control room operators brought the 650 megawatt nuclear power plant back into service. There was a delay early Sunday morning while reconnecting to the New England power grid when operators noticed that generator readings were different than expected and disconnected from the grid. Plant engineers and technicians traced the problem to an indication circuit in the control room. Once a series of power ascension tests are complete and the output returned to full power, it will bring to a close the plant s 28th refueling and maintenance outage. The outage, which began on April 24th, was based on 18 months of planning and involved more than 6,000 separate tasks including refueling the reactor as well as testing and inspection on virtually every major system in the plant.