Current News

Central Vermont Public Service (NYSE: CV) reported consolidated earnings of $20.4 million, or $1.74 per diluted share of common stock, for the 12 months of 2009, compared to $16 million, or $1.52 per diluted share of common stock, for the same period in 2008.
CV reported fourth-quarter 2009 consolidated earnings of $2.1 million, or 18 cents per diluted share of common stock, compared to a loss of $0.1 million, or 1 cent per diluted share of common stock, for the same period last year.
"Perhaps most significant, Moody's Investors Service rated the company at investment grade in the fourth quarter, markedly improving our borrowing capability," President Bob Young said. "These ratings will allow CVPS to borrow short-term capital at lower rates than we could otherwise expect to receive, and will reduce or eliminate collateral requirements in many power purchase and power sales contracts, so this expands our options as we look to secure new power supply in the future.

Governor Jim Douglas received the National Order of Québec (l Ordre national du Québec) yesterday at a ceremony in the Québec National Assembly, becoming only the 4th American and first American public official to receive the honor. Québec Premier Jean Charest cited Governor Douglas work in strengthening the historic Québec -Vermont relationship throughout his career in public service during the investiture ceremony held yesterday.
Governor s remarks:
Merci, Monsieur le Premier Ministre. Et je remercie aussi le peuple du Québec pour ce grand honneur. [Thank you Premier Charest. I thank you and the people of Quebec for this tremendous honor.]

The Senate Institutions Committee on Friday approved on a 5-0 vote legislation to authorize the sale or lease of the Brighton State Airport to either the Town Brighton or Vermont Renewable Energy Co. The details of the sale or lease will be left up to the Agency of Transportation to negotiate. The property will be sold at fair market value. The legislation next goes to the full Senate for review and consideration.

"This legislation, if ultimately approved by the 2010 General Assembly, will help pave the way for much needed jobs in the Northeast Kingdom and create a new market for wood in the region. It is estimated that 34 new jobs will be created at the plant and approximately 150 jobs will be either created or impacted in a positive way in the region," Sen. Vince Illuzzi, Chair

On March 10, NBT Bank held a ribbon-cutting ceremony to formally open its Burlington Office. This office, located at 150 Bank Street, is the bank s first retail branch in Vermont. The bank s Vermont regional office is located in the same building.
On hand for the ceremony were NBT Bank executives and employees, local public officials, area business leaders and invited guests. NBT Bank Regional President Matt Durkee said: Establishing our presence in Vermont has been a great experience for us. People have been very responsive to our community banking approach, and we look forward to continued growth here.

Plasan, a global leader in the field of combat-proven survivability and armor solutions for vehicles, airborne platforms and personal protection, has received another US Military contract worth $170 million to the Bennington company. Plasan makes plating for armored vehicles. The vehicles themselves are made by Oshkosh Defense in Wisconsin. Plasan is seeking to expand its site in Bennington by 4,500 square feet to accommodate the work. Employment at the site is up to 220 and could grow further.
The latest MRAP-ATV contract is worth $640 for 1,460 vehicles and brings the total Oshkosh deal to $4.74 billion, which includes spare parts and support. The 8,079 all-terrain vehicles are mine-resistant and are intended to support the military effort in Afghanistan. Last month, Plasan announced it had delivered its 5,000th armored kit, meeting all delivery deadlines. Plasan is a subcontractor for Oshkosh. Oshkosh received the new contract in late February.

Goodrich Delivers 2,000th Helicopter Health and Usage Management System (HUMS)
Diagnostic health management system saves time, money for military, commercial helicopters
Goodrich Corporation s (NYSE:GR) Sensors and Integrated Systems business in Vergennes, Vt. marked the delivery of its 2,000th helicopter health and usage management system (HUMS) in a ceremony March 8, 2010 attended by employees and U.S. Senator Patrick Leahy (D-VT). Leahy has supported the company in winning more than $100 million in contracts to develop and deploy the HUMS systems for a number of helicopter platforms for the U.S. Army and Marine Corps.
I am incredibly proud to mark this day with the men and women of Goodrich, said Leahy. 2,000 HUMS units are a win for Vermont, the Department of Defense, and our men and women in uniform. These life-saving, money-saving devices keep our helicopters flying safely and have been at the heart of this region s economy.

Senator Patrick Leahy (D-Vt.) will chair a field hearing of the U.S. Senate Judiciary Committee on Monday, March 22, in Barre, Vermont. The hearing will examine the effective efforts of Barre and surrounding communities in fighting drug-related crime. Leahy has invited the Director of the Office of National Drug Control Policy, R. Gil Kerlikowske the nation s drug czar to testify at the hearing. Kerlikowske is the former police chief in Seattle, and has almost 40 years of law enforcement experience. Judiciary Committee Member Sheldon Whitehouse (D-R.I.), a former prosecutor, will also attend.

The Vermont Economic Development Authority (VEDA) is inviting eligible and qualified borrowers to apply for an allocation of Vermont s $135 million in Recovery Zone Facility Bond (RZFB) tax-exempt bond issuance capacity. The next round of applications is due at VEDA s offices on April 15, 2010.
This special tax-exempt bond financing is only available through the end of 2010, said VEDA Chief Executive Officer Jo Bradley. Financing a project with tax-exempt bonds enables borrowers to make needed investments at the lowest possible cost, and so the Authority is eager to commit all of the funding Vermont has been allocated. Thus far, VEDA has committed approximately $30 million of Vermont s special tax-exempt bonding capacity.

Vermont s two largest utilities today signed a memorandum of understanding with provincial utility Hydro-Québec that sets the stage for a new power supply contract for Vermont customers. The 225-megawatt deal is comparable the current Hydro-Quebec contract and the initial cost will have little if any inflation, according to a utility source.

A study by the Brookings Institution has found that Vermont received federal funds distributed based on census data at a rate of double the national average, according to data from fiscal 2008. The study found that Vermont received close to $1.79 billion in funds, or $2,873.67 per capita. Nationally, the average is $1,469 per capita. Vermont was second only to Washington, DC in terms of per-capita money awarded. The largest portion of the state s census-related funding, 67.5 percent, was put towards health care, followed by 10.6 percent allotted to transportation. The institution s data suggests that states with a higher participation in the census reap more financial reward from the federal government.
(Source : The Burlington Free Press)

The 2010 Census is here! To conduct this massive undertaking, the U.S. Census Bureau must hire for a variety of positions, and at a time of economic uncertainty, there are still plenty of jobs available. Currently, the Burlington Local Census Office serves residents in the 14 counties of: Addison, Bennington, Caledonia, Chittenden, Essex, Franklin, Grande Isle, Lamoille, Orange, Orleans, Rutland, Washington, Windham and Windsor. Burlington has 2010 Census positions, starting at $13.50/hour, available for immediate applications.
2010 Census job applicants must be at least 18 years old, have a valid Social Security number, be able to pass a background check and take a 30-minute, multiple-choice basic employment test that measures knowledge, skills and abilities required to perform a variety of census jobs. In most cases, workers will also be required to possess a valid driver's license and have use of a vehicle.

Weekly unemployment claims declined dramatically last week after increasing the previous two weeks. For the week of March 6, 2010, there were 897 new regular benefit claims for Unemployment Insurance, a decrease of 498 from the week before. Altogether 15,463 new and continuing claims were filed, a decrease of 54 from a week ago and 2,814 fewer than a year earlier. The Department also processed 4,647 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 96 fewer than a week ago. In addition, there were 3,389 Second Tier claims for benefits processed under the EUC08 program, which is an increase of 32 from 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