Current News

Vermont Business Magazine People’s United Community Foundation (PUCF), the philanthropic arm of People’s United Bank, NA, has announced it has awarded $128,000 to Vermont non-profits during its most recent grant cycle. This cycles’ grants were focused on addressing a wide variety of needs across the State of Vermont. Funding was allocated to 19 non-profit programs and services that range from efforts to end homelessness, services for victims and families of domestic violence, creating and increasing opportunities for students to pursue higher education and gain access to job training, in addition to increasing food security and supporting small business initiatives.

Vermont Business Magazine Break the Silence Against Domestic Violence's 2019 Angel Fund made the biggest impact yet. Bereaved families across the nation partnered with BTSADV this July to help raise $22,200 to be awarded to survivors of domestic violence this fall.

Vermont Business Magazine Nothing is more important in the first few weeks of a baby’s life than learning to feed. Supporting newborns, and older children too, to thrive and grow is the basic task of parenting. Breastfeeding, while natural and sometimes easy, can be the most challenging piece of the newborn period.

Vermont Business Magazine Attorney General Donovan today urged the Federal Communications Commission (FCC) to encourage telecom companies to implement call blocking and call authentication solutions that would protect consumers from illegal robocalls and spoofing. Today’s comment letter to the FCC comes after Attorney General Donovan and a bipartisan, public-private coalition of 50 attorneys general and 12 phone companies announced a set of Anti-Robocall Principles to fight illegal robocalls last week.

Vermont Business Magazine The US business climate remains strong with many companies in growth mode despite recent global economic headwinds – even as the current economic expansion enters its 11^th year – according to a new report from Citizens Bank. The index also shows Vermont's economy still growing, if only just.

The first-ever Citizens Business Conditions Index is derived from proprietary corporate and public data about business growth and employment across the country, including factors such as revenue, manufacturing volumes and wages. An index greater than 50 indicates an expansionary trend and points to improved business conditions for the next quarter. The nationwide index sits at a healthy 61.2, down slightly from 61.5 in the first quarter. This indicates that despite the questions inherent in a recovery of this length, US companies remain in a growth mode powered by healthy fundamentals.

Vermont Business Magazine The Vermont Natural Resources Council (VNRC) will present this year’s Arthur Gibb Award for Individual Leadership to Madeleine Kunin, former Governor of Vermont. The award will be presented at VNRC’s annual meeting on Thursday, September 12 at the Coach Barn at Shelburne Farms.

Vermont Business Magazine The Burlington Electric Department (BED) today announced that it has extended a power purchase agreement for renewable wind power with the Sheffield Wind Farm, a 40 megawatt, 16-turbine wind farm in northeastern Vermont originally developed by First Wind. The current agreement delivers 16 megawatts of Vermont-produced electricity to BED’s 100 percent renewably-sourced portfolio. By extending the contract for five years, BED was successful in optimizing the price per megawatt hour (MWh) for the remaining and extended contract terms.

Vermont Business Magazine People's United Bank, NA, a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), today announced the pending sale of its Two Burlington Square location in Burlington to Nedde Real Estate. Built in 1970, the 95,000 square-foot building is located at the corner of Bank and Pine Street and contains five floors of office space. People’s United Bank will continue to maintain its Vermont headquarters at the location, as well as drive-up banking services, a full-service branch and three floors of offices. Financial terms were not disclosed. This formerly was the headquarters of Chittenden Bank, which was acquired by People's in 2007.

Vermont Business Magazine The Vermont Economic Development Authority (VEDA) today announced Andrea Gagner has been appointed to its Board of Directors. Gagner is the Chief Executive Officer of 14th Star Brewing Company in St Albans.

by Jeff Tieman, VAHHS President and CEO Eight hospitals last week presented their 2020 proposed budgets to the Green Mountain Care Board. I attended all the hearings and will again this coming week when the remainder of hospitals will explain their budgets in Vermont's very transparent and thorough public process. Leaders from each organization have thoughtfully described how they work to strike a balance between controlling costs, ensuring quality, planning for long-term stability and leading the way through challenges and opportunities.

Dr Suresh Garimella, UVM's 27th President. UVM's classes, and Garimella's first semester leading the university, begins Monday, August 26. Photo by Andy Duback.

by Timothy McQuiston, Vermont Business Magazine Inevitably Dr Suresh Garimella can be and will be compared to his two predecessors, who are vastly different themselves. All three of these University of Vermont presidents have different academic backgrounds, while of course being highly accomplished. Dan Fogel (2002-2011) is a presence in any room he enters and is someone with a towering intellect. Tom Sullivan (2012-2019) is cool, efficient, lawyerly and, as it turns out, a phenomenal fundraiser.

Garimella, who took over July 1, is more casual than either and quick with a quip. He clearly enjoys engaging with the press and has an easy touch with anyone he meets.

by Brandon Arcari, Vermont Business Magazine UVM President Suresh Garimella Q&A from his first press conference on July 1 conducted in his office in the Waterman Building.