Current News

by Rob Roper Recently the Lake Champlain Chamber of Commerce surveyed 500 young professionals, primarily Burlington area residents between the ages of 22 and 34, and learned that over 40% intend to leave Vermont. Why? The high cost of housing, the overall high cost of living, and the lack of upwardly mobile career paths. While the high number eyeing the exits may come as a shock, the reasons are not. We’ve known for a long time these are things that need fixing.

Vermont Business Magazine On April 16, the Castleton University Women’s Hockey Team presented a donation of $2,831 in the form of a giant pink check, to the Foley Cancer Center in support of RRMC’s Breast Care Program. These proceeds were raised from the annual Pink the Rink event held on January 25, 2019 at Spartan Arena. Among those present at the presentation were physicians and staff from the Foley Cancer Center, Castleton University President Karen Scolforo, Athletic Director Deanna Tyson, Head Coach Mike Venezia, and members of the ice hockey team.

Vermont Business Magazine Berkshire Hills Bancorp, Inc (NYSE: BHLB) reported GAAP net income of $24 million, or $0.51 per share, in the first quarter of 2019. The non-GAAP measure of core earnings totaled $28 million, or $0.60 per share. Non-core expenses were primarily composed of merger and restructuring charges. The Board authorized the repurchase of 2.4 million common shares for the period expiring on March 31, 2020. This replaces the Company's existing unused 500,000 share repurchase authorization. Berkshire Bank has branches in southwestern Vermont.

Vermont Business Magazine The 3rd Annual Southern Vermont Economy Summit will take place on May 23rd at the Grand Summit Lodge at Mount Snow in Dover, Vermont. Registration is now open at www.SoVermontSummit.com. The perennial event’s focus is to connect economic development practitioners, private and public sector employers, investors, and all levels of government across Southern Vermont’s Bennington and Windham Counties. Speakers and sessions for the day long event are chosen and structured in order to share knowledge and best practices relevant for increasing capacity and collaboration in the region. This year’s theme is “Investing in Southern Vermont’s Future”. 

Vermont Business Magazine The last commencement ceremony of Green Mountain College’s 185-year legacy will be held on Sunday, May 19, 2019 at 10 am. The administration and the board of trustees of the College elected to break with tradition this year and will not have a single commencement speaker. In place of a commencement address the graduates, their families and friends will hear remarks from a selection of speakers ranging from a long-serving member of the faculty, current and former trustees, an alum and a graduating senior selected by a panel of students, faculty and staff.

Vermont Business Magazine Norwich University President Richard W. Schneider announced to trustees on Thursday, April 25, that Professor Emeritus Don Wallace, who retired in 2017 after over five decades of teaching in Norwich’s Mechanical Engineering Department and passed away in November 2018, left in his will over $3 million to the David Crawford School of Engineering (DCSE).

Leonine Public Affairs With only three weeks left in the 2019 legislative session there are a number of high profile issues that have yet to be resolved. The session may go longer but if lawmakers adjourn in 18 weeks, as scheduled, the last day of the session will be May 18. It does appear legislative leadership is trying to stick to this schedule. Morning committees in the Senate will shut down one week from today which is typically a sign that the budget and revenue bills will be resolved two weeks later.

Vermont Business Magazine Hampton by Hilton, Hilton’s (NYSE: HLT) upper-midscale brand and longtime category leader of more than 2,400 hotels, has recognized Hampton Inn by Hilton St. Albans with a Lighthouse Award. The award signifies the hotel as one of the top performing properties within the brand and is only presented to those hotels that have excelled in service and growing customer loyalty.

The Lighthouse Award is given annually and awarded to the top five percent of Hampton by Hilton hotels in the Americas. Prior to attaining the award, Hampton Inn by Hilton St. Albans was recognized as a “Wall of Fame” winner for being in the top 15 percent of Hampton properties for four consecutive quarters. The property will receive a brand trophy to display in their lobby.

Senator Patrick Leahy (D-Vermont) Dick Lugar was a great credit to his state and the nation, and to the Senate. He was a pillar of civility whose calm and thoughtful contributions helped shape foreign policy, farm and nutrition policy, and national security policy.  It’s been said that our partnership in leading the Agriculture Committee has been a model of how the Senate can work, and I will always value our close friendship and what we were able to do together.

Marcelle and I send our heartfelt warmest wishes to Char and their family and friends.

CNN: Former Senator Richard Lugar dies

Vermont Business Magazine Community Bank NA recently presented a $3,500 donation to Vermont Community Garden Network (VCGN) to help support its various programs and services, including its hands-on garden education for youth and adults, training, technical assistance, resources and networking opportunities for garden leaders.

Vermont Business Magazine The State of Vermont has made a strong pitch to get business owners to relocate here; even offering an incentive of $10,000 if certain conditions are met. Although they didn’t qualify for the incentive, that did not stop the husband-and-wife team of Christine and Jeremy Baldwin from picking up stakes and leaving Quincy, MA (suburban Boston) and relocating to Colchester.

Vermont Business Magazine The Bowse Health Trust, a Department of Rutland Regional Medical Center, has begun its 2019 grant cycle, with Letters of Intent due by June 15, 2019.