Current News

Vermont Business Magazine With their purchases of Nutty Steph’s Chocolate Vulvas Vermonters and chocolate lovers everywhere can help fund Planned Parenthood of Northern New England’s essential work empowering individuals to make independent, informed decisions about their sexual and reproductive health. Nutty Steph’s will donate $1 to the organization for every Chocolate Vulva box sold. Included with each purchase will be one of nine collector’s cards illustrated by artist Hilde Atalanta of The Vulva Gallery, a global educational movement which celebrates vulva diversity. Jaquelyn Rieke, founder and product designer at Nutty Steph’s, anticipates the campaign to raise $100,000 for Planned Parenthood and $25,000 for The Vulva Gallery.

Vermont Business Magazine Berkshire Bank has announced a  loan modification program and financial coaching service designed to help its current customers who are federal employees needing special assistance and options during the US Government shutdown. Berkshire Bank has branches in southwestern Vermont. Begun January 16, qualified federal government employees may apply for a 1-3 month loan payment deferral.  This temporary benefit is available to Berkshire Bank customers with a Berkshire Bank loan product, including mortgages, equity loans, equity lines, and consumer or auto loans.

Vermont Business Magazine In 1998, to provide area community organizations with blankets to help Vermonters in need, New England Federal Credit Union (NEFCU) conducted its first Blankets of Hopeä  Drive. The drive has collected and distributed thousands of blankets to organizations including the Committee on Temporary Shelter (COTS), Spectrum Youth & Family Services, Samaritan House, and others.

2018 marked the 20^th Blankets of Hope Driveä . As in years past, the drive began on December 1 and ended on December 31. Over 150 blankets were collected and cleaned by Greer’s Professional Fabricare. This year’s blankets were delivered to:

• Spectrum Youth & Family Services
• Tim’s House
• Howard Center
• Lund Family Center
• COTS

Source: Williston VT—NEFCU 1.17.2019

Vermont Business Magazine Attorney General TJ Donovan announced that Chelsea Hoadley of Greensboro Bend, Vermont, a Tax Examiner with the Vermont Department of Taxes, was arraigned today in Washington County Criminal Court on four felony counts of embezzlement in violation of 13 V.S.A. § 2537, and on four felony counts of identity theft in violation of 13 V.S.A. § 2030(a).  Ms. Hoadley, represented by attorney Maggie K. Vincent, Esq, entered a plea of not guilty.

Vermont Business Magazine People's United Financial, Inc. (NASDAQ: PBCT) today reported results for the fourth quarter and full year 2018. The Board also declared a quarterly cash dividend of $0.3515625 per share on the Company's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock.  The dividend is payable on March 15, 2019 to shareholders of record at the close of business on March 1, 2019.

- Operating Earnings of $0.36 per Common Share

- Announced the acquisition of BSB Bancorp and acquired VAR Technology Finance.

- Return on average assets of 1.11 percent and return on average tangible common equity of 14.9 percent.

- Efficiency ratio of 55.1 percent, an improvement of 160 basis points linked-quarter, reflecting continued revenue growth and well-controlled expenses.

- Net interest margin of 3.17 percent, expanded two basis points linked-quarter.

Vermont Business Magazine Attorney General TJ Donovan announced today that the State of Vermont will receive $2,941,047 million as a result of four different settlements. The settlements announced today are the results of consumer and environmental protection actions taken by the Vermont Attorney General’s Office. “These settlements are good news for Vermonters and the State. I am proud of our team for their hard work in holding these companies accountable.”

The settlement details are as follows:

Public Assets Institute In his Inaugural Address, Governor Phil Scott described a state of 251 towns, cities, and villages, where  “the good” of Vermont “lives in each and every one of our communities.” But the administration also released this month a vision for the future of education in Vermont: one Greatly Simplified School District (GSSD) that would abolish local school boards and districts and run the education system out of Montpelier. Apparently, the people in those towns and villages are not good enough to run their schools.

Governor Scott's inaugural speech January 10, 2019.VBM photo.

Vermont Business Magazine Vermont legislative leaders today pledged action to help blunt negative impacts of the federal government shutdown. House Speaker Mitzi Johnson and Senate Pro Tempore Tim Ashe highlighted community and financial resources available to citizens and businesses in need, as citizen concerns mount amid fears the shutdown could last long enough to strain Vermont citizens and businesses.

“In Vermont we take care of one another and help neighbors through challenging times,” said Speaker Mitzi Johnson and Pro Tem Ashe. “The Vermont General Assembly is closely monitoring the federal shutdown to understand its impact on Vermont. We are committed to working collaboratively with Treasurer Pearce, community service and financial service providers, and other partners to develop proposals, where necessary, to protect Vermont from damages caused by the federal shutdown.”

Vermont Business Magazine Timing is everything. A strong early season, rock-solid reservation numbers and a snowstorm looming in the forecast could add up to record business at Vermont ski areas over the Martin Luther King holiday weekend. Meteorologists are predicting that up to 20-plus inches of fresh snow could hit the Green Mountains over the weekend, with timing seemingly tailor-made for ski areas: Late enough to not adversely impact travel, but right on time to deliver ideal powder conditions for holiday guests.

by Timothy McQuiston, Vermont Business Magazine The Department of Public Service has created an interactive map that shows the results of a drive test of mobile wireless coverage in the state. After reviewing providers’ maps that purport to show the extent of their coverage, the Department undertook a drive test of all major roads in the state to collect data and assess where mobile wireless service is actually available from a consumer perspective. The interactive map shows considerably less service than providers claim, which could result in more money for carriers to expand service in Vermont.

Vermont Business Magazine Union Bankshares, Inc (NASDAQ - UNB), based in Morrisville, announced Wednesday after markets closed results for the three and 12 months ended December 31, 2018, and declared a regular quarterly cash dividend. A reduction in net earnings of $3.7 million occurred during 2018 due to one-time charges related to the termination of the Company's defined benefit pension plan, of which, $3.2 million was recorded in the fourth quarter of 2018.  As a result, the Company reported a consolidated net loss for the three months ended December 31, 2018 of $(436) thousand, or $(0.10) per share, and consolidated net income for the 12 months then ended of $7.1 million, or $1.58 per share. Consolidated earnings of $1.9 million, or $0.43 per share and $8.4 million, or $1.89 per share were reported for the three and twelve months ended December 31, 2017, respectively.

Vermont Business Magazine Fat Toad Farm is excited to announce that they received a 2019 Good Food Award for their Vanilla Bean Goat's Milk Caramel Sauce. The nation's leading food producers, grocers, chefs, journalists and activists united in San Francisco on Friday, January 11th to honor the 220 Good Food Award winners. An annual awards ceremony now in its ninth year, the Good Food Awards recognizes American food and drink creators who demonstrate a commitment to creating tasty, authentic and responsibly made products and in doing so, better the nation's food system. Each of the 2019 winners demonstrates both a mastery of their craft and a commitment to maintaining exceptionally high social and environmental standards in their work.