Current News

Vermont Business Magazine There’s new life at a 60- year old former industrial building in the heart of Rutland County these days. Kalow Technologies, a highly integrated contract manufacturer, recently completed an extensive renovation to over 85,000 square feet of space at 155 Seward Road, first constructed in 1961. Kalow is a rare success story of steady growth in good paying jobs as it has diversified and acquired key processes such as metal fabrication and most recently powder coating, to complement its long-time engineering and manufacturing strengths.

Vermont Business Magazine The Vermont Medical Society Education & Research Foundation (VMSERF) has announced the 2020/2021 cohort of the Physician Executive Leadership Institute Foundational Course, which will commence this November. The leadership course, offered in partnership with the Daniel Hanley Center for Health Leadership and Lumunos, and supported by funding from the Physicians Foundation, is designed to equip physicians and PAs stepping into or already in leadership positions with the necessary knowledge and skills to be successful in their leadership roles.

Vermont Business Magazine Southwestern Vermont Health Care (SVHC) is now hosting classes for new parents online. New parents are invited to register for the classes at svhealthcare.org/Classes-Events. The new format allows families to get the information they need from the comfort and safety of their own homes.

Vermont Business Magazine The Vermont Department of Health is reporting 23 new cases of COVID-19 today. There have been 64 since Friday. Three people are currently in the ICU. With the holidays approaching, for college students returning to Vermont homes, and a growing list of people who are “close contacts” of people with COVID-19, it’s important to know what to do if someone in your home is under quarantine. If you have out-of-state visitors in your home who come from a red or yellow county, they need to quarantine for 14 days (or the duration of their stay).

Vermont Business Magazine People's United Bank, NA a subsidiary of People's United Financial, Inc (NASDAQ: PBCT) based in Bridgeport, CT, announced today that it has completed the sale of People's United Insurance Agency to Florida-based AssuredPartners. The transaction was announced on September 22, 2020. Under the terms of the agreement, the purchase price is $120 million in cash, reflecting a 3.7x multiple of LTM revenue.

by John R. Brumsted, MD President and CEO, University of Vermont Health Network Last week, the UVM Health Network experienced a confirmed cyberattack that has affected some of our systems. We expect that it will take time to restore normal operations throughout the network. But our top priority is caring for our patients and we have well-practiced standby procedures in place to ensure that we are providing that care safely. Our urgent and emergency care locations are open and we encourage you to seek the care you need.

Vermont Business Magazine Today Commissioner Michael S Pieciak announced the filing of a federal lawsuit against Jasbir Thandi, the former president of Global Hawk Risk Retention Group. The lawsuit also involves several of Global Hawk’s outside professional advisors including its former financial advisor and insurance broker. Global Hawk is a Vermont captive insurance company providing insurance coverage to its members who are commercial trucking companies all located outside Vermont. The lawsuit alleges the defendants falsified bank documents to conceal the financial condition of the company from the Department of Financial Regulation. This scheme allowed the defendants to continue operating the insolvent company for their own benefit and at substantial risk to its members.

Vermont Business Magazine The Southwestern Vermont Health Care (SVHC) Foundation has received a $2 million gift from friends of the hospital for the expansion and renovation of the emergency department and front entrance of the Southwestern Vermont Medical Center (SVMC) in Bennington. The gift is dedicated to support VISION 2020, the health system’s strategic direction. The initiative outlines transformational projects for SVMC’s main entrance, Emergency Department, and Cancer Center over the next few years. Construction is planned to start in the spring of 2021, pending regulatory approval.

Vermont Business Magazine Green Mountain Power (GMP) is reminding customers that today’s storm is bringing strong gusty winds along with sleet and snow across Vermont, increasing the possibility for outages due to downed trees and lines. GMP is also urging customers to stay away from any downed lines or trees – and to call GMP.

​Vermont Business Magazine Unsworth Properties, LLC and their select investors have closed on the acquisition of over 277,000 square feet of industrial/manufacturing real estate from REM Development. The $28.6 million transaction was a nearly year-long process that culminated in a closing on October 30, 2020. REM Development Company, represented by Brad Worthen of Pomerleau Real Estate, began their process of identifying a purchaser in November of 2019.

Vermont Business Magazine Governor Phil Scott and the Vermont Department of Labor have announced the availability of a new $1,000 scholarship for eligible Vermonters to support training and other expenses incurred from enrollment in an adult career and technical education certificate program. The Adult Career Technical Education (CTE) Scholarship was created in partnership between the Department of Labor and the Vermont Student Assistance Corporation.

Vermont Business Magazine Burlington-based Reconciled has acquired Bean Team, a Tallahassee-based accounting firm. Reconciled, the online bookkeeping firm for entrepreneurs continues to expand nationally with a platform strategy starting with Bean Team. Financial terms were not disclosed. Bean Team’s customers will continue with the same support and service that has made Bean Team a success, but with the added value of Reconciled’s accounting team and resources.