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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.

Vermont Business Magazine On Thursday, the Special Olympics Vermont Board of Directors announced on its Web site that they have selected Melissa "Missy" Siner Shea to be the new President & CEO of Special Olympics Vermont, effective February 1, 2019. Shea comes to Special Olympics Vermont after four years as the Executive Director of the Wellesley College Alumnae Association. Prior to her time at Wellesley she worked as the Director of Admissions and Financial Aid for the Ethel Walker School in Simsbury, Connecticut.

Vermont Business Magazine Representative Peter Welch (D-Vermont) was appointed today by House Speaker Nancy Pelosi to the House Permanent Select Committee on Intelligence, which oversees the federal government’s seventeen intelligence agencies and offices, including the Central Intelligence Agency, the Federal Bureau of Investigation, and the intelligence functions of the Departments of Defense, Homeland Security, Justice, State and Energy. The committee is also investigating Russia’s attempt to influence the outcome of the 2016 election.