Current News

Vermont Business Magazine The latest federal evaluation of Vermont’s groundbreaking “Support and Services at Home” (SASH) program, released July 12, shows significantly slower growth in the cost of long-term institutional care for very low-income SASH participants living in most areas of the state compared to non-participants. The finding holds true for SASH participants age 65 and older who receive Medicaid to cover the cost of long-term care in nursing homes. Medicaid costs were about $400 less per beneficiary per year among participants living at affordable-housing sites where SASH is based, researchers found.

by John McClaughry Chairman Anthony Roisman of the Public Utility Commission has made it official. Vermont is facing a “Pearl Harbor moment”. We in Vermont must launch a “wartime effort” like the United States did in 1942, to establish dominance over the lurking menace of “climate change”.

Vermont Business Magazine Julie Schneckenburger, left, Chief Nursing Officer at Northeastern Vermont Regional Hospital (NVRH), presents a check to Amanda Cochrane, the Executive Director at Umbrella. Umbrella is one of three local not-for-profits that received donations collected during National Nurses Week back in May 2019. The other two are Kingdom Community Services and the Kingdom Animal Shelter. 

Vermont Business Magazine Vermont Works Management Company is given the green light by the USDA to participate in the Rural Business Investment Program (RBIP). Currently, there are less than ten licenses under this program in the US, and this designation is the first single state focused; all of the other RBICs have either nationwide or region-wide mandates. The goal of each RBIC is to provide development and growth capital in rural areas to help meet the equity capital investment needs of promising local businesses.

Vermont Business Magazine Vail Resorts, Inc. (NYSE: MTN) today announced it has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc. (NASDAQ: SKIS) at a purchase price of $11.00 per share, subject to certain conditions, including regulatory review and Peak Resorts’ shareholder approval. Through the acquisition, Vail Resorts will add 17 U.S. ski areas to its network of world-class resorts, including Mount Snow. Vail previously acquired Stowe Mountain Resort (2017) and Okemo (2018) in Vermont. Located near major metropolitan areas, including New York, Boston, Washington, D.C., Baltimore, Philadelphia, Cleveland, Columbus, St. Louis, Kansas City and Louisville

Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN) and its famous Epic ski pass keep marching farther East. Today, the Colorado-based ski industry giant announced it has entered into a definitive merger agreement to acquire 100 percent of the outstanding stock of Peak Resorts, Inc (NASDAQ: SKIS) at a purchase price of $11.00 per share ($264 million), subject to certain conditions, including regulatory review and Peak Resorts' shareholder approval. Included in the purchase is Peak's signature resort, Mount Snow in West Dover, Vermont. The purchase also includes three ski areas in New Hampshire. Last year Vail acquired Okemo in Ludlow and its sister resorts ($82 million) and in 2017 it bought Stowe Mountain Resort ($41 million). Mount Snow opened its $22 million Carinthia Base Lodge last January.

Vermont Business Magazine Attorney General TJ Donovan today announced that a coalition of 50 attorneys general have reached a settlement with Equifax as the result of an investigation into the largest-ever breach of consumer data. The investigation found that Equifax’s failure to maintain a reasonable security system enabled hackers to penetrate its systems, exposing the data of 56 percent of American adults, including more than 250,000 Vermonters in 2017. The attorneys general, in concert with the Federal Trade Commission and the Consumer Financial Protection Bureau, secured a settlement with Equifax that includes a Consumer Restitution Fund of up to $425 million, a $175 million payment to the states, and numerous required actions Equifax must take to better protect consumer data. The State of Vermont will receive $1.85 million.

Vermont Business Magazine This morning, Monday, July 22nd, 2019, well known Vermont journalist and profile writer, Joyce Marcel, of Brattleboro launched a Kickstarter campaign aimed at raising $45,000 - the funds necessary to complete a book chronicling the full behind-the-scenes story of Christine Hallquist's historic run for the Vermont governorship. After being included in all campaign team calls and events from the beginning of the campaign in March of 2018, Marcel has hundreds of hours of transcripts and materials needed to tell the true story of why Christine Hallquist's history-making campaign was a success despite the loss on election day. With the support of Christine and campaign manager, Cameron Russell, Joyce Marcel's forthcoming book, The Christine Chronicles, promises to be a story of interest to many across Vermont and the nation.

Vermont Business Magazine Senators Patrick Leahy (D-Vt.), Chuck Grassley (R-Iowa), Dianne Feinstein (D-Calif.), and John Cornyn (R-Texas) – all senior members of the Senate Judiciary Committee with exclusive jurisdiction over the Freedom of Information Act (FOIA) – sent a bipartisan letter to Environmental Protection Agency (EPA) Administrator Andrew Wheeler raising serious concerns with the EPA’s recent “FOIA Regulations Update” final rule, asking him to reconsider the rule or provide sufficient opportunity for the American public to comment on it and additional transition time to ensure public awareness.

Vermont Business Magazine Ledyard Financial Group, Inc (ticker symbol LFGP), the holding company for Ledyard National Bank with a branch in Norwich, Vermont, today reported record quarterly and year-to-date earnings through June 30, 2019. Net income for the quarter ended June 30, 2019, was $1,563,045 or $0.50 per share compared to $1,341,896 or $0.43 per share for the same period in 2018, an increase of $221,149 or 16.5%. Net income for the six months ended June 30, 2019, was $2,870,804 or $0.91 per share compared to $2,549,200 or $0.82 per share for the same period in 2018, an increase of $321,604 or 12.6%. Strength in the Company’s core businesses and the ability to control operating expenses are the primary contributing factors to these record results.

Vermont Business Magazine Ward Group, an Aon Hewitt company, has again recognized Montpelier-based Vermont Mutual Insurance Group as one of the top 50 property and casualty insurers in the United States. This is the eleventh consecutive year Ward Group has affirmed Vermont Mutual’s place as a “Ward’s 50” insurer. Every year, Ward Group conducts a comprehensive financial analysis of approximately 3,000 U.S. property and casualty insurers. The “Ward’s 50” identifies the top 50 P&C carriers in the U.S. for their consistency, safety and superior financial performance.

Vermont Business Magazine The Brattleboro Area Chamber of Commerce and Downtown Brattleboro Alliance today issued an RFP soliciting proposals from marketing professionals to develop a marketing initiative for the town of Brattleboro, VT.  The purpose of the initiative is to support the growth of tourism in Brattleboro.