Current News

by Julie Moore To help kick off the first Earth Day nearly a half-century ago, cartoonist Walt Kelly drew a poster of his character Pogo with a litter stick and a burlap sack surveying a garbage covered Okefenokee Swamp, where he lives. Like the event it boosted, the quote from the drawing, “we have met the enemy and he is us” has endured and become part of our national conscience.

Senator Patrick Leahy The Senate Judiciary Committee failed the American people. In a stark departure from bipartisan precedent, Senate Republicans are seeking to prevent the Senate from fulfilling its obligation to review the full record of a nominee for a lifetime appointment to our nation’s highest court. We must ask: What do Senate Republicans so badly want to hide?

Vermont Business Magazine AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Saturn Insurance Inc (Burlington, VT). Saturn is a captive of BP p.l.c. (BP), an integrated global oil and gas company. The outlook of these Credit Ratings (ratings) remains stable.

Vermont Business Magazine Farmers, chefs, food producers and others working in Vermont agriculture are invited to apply to the second round of Vermont Fresh Network (VFN) Conference Scholarship Program grants. This round of funding supports participation in the Food Tank Issues Summit: Food Loss & Food Waste, happening in New York City on October 3rd. Speakers at the summit this year include Marion Nestle, best-selling author and professor emeritus at New York University and Dan Barber, author, chef and co-owner of Blue Hill and Blue Hill at Stone Barns, in addition to many other food systems leaders.

by Timothy McQuiston, Vermont Business Magazine This had to be the most jovial Emergency Board meeting since at least before the Great Recession began in 2008. Tax revenues were great last year (fiscal year 2018 ending June 30) and are expected to be great this year (FY19) and likely very good next year (FY2020). The E-Board met Friday afternoon in Governor Phil Scott’s Pavilion conference room.

Vermont Business Magazine Ledyard Financial Group (Ticker Symbol: LFGP), with a branch in Norwich, announced today a $0.01 increase to its quarterly dividend. The dividend of $0.18 is payable September 4, 2018 to shareholders of record as of August 10, 2018. Strength in Ledyard’s core businesses, banking and wealth management, is supporting their ability to increase the dividend this quarter and ensure their shareholders benefit from the company’s growth in earnings.

Ledyard Financial Group, Inc., headquartered in Hanover, New Hampshire, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax and wealth management.

Vermont Business Magazine John and Elizabeth Illick and ReArch Company have pledged $200,000 to Champlain College over the next 4 years. Half of the donation will go to The Champlain Fund and the remaining 50 percent will go to Institutional Business Development. Current Champlain Trustee, John Illick, founded ReArch, a development, construction management, and property management company back in 2003 based on his decades of experience in the commercial construction industry. Under his direction, ReArch Company has established itself as an industry leader in Construction and Real Estate development. In addition to his role at ReArch Company, Illick serves as Managing Partner for Technology Park Partners (TPP), and Sugar River Mills Redevelopment, LLC.

Vermont Business Magazine Nearly 40,000 Vermonters receiving Social Security benefits will keep more of their income due to an income tax exemption proposed by Governor Phil Scott and passed by the Legislature. This change, included in Act 11 of the 2018 Special Session, creates a personal income tax exemption for Social Security beneficiaries below certain income thresholds. The law takes effect in calendar year 2018 for tax returns filed in 2019.

“This relief, coupled with our Working Family Taxpayer Protection Act, provides $30 million in income tax relief for Vermonters,” said Scott. “For folks on a fixed income, these savings each year will make a difference. But, we have more work to do to seek tax relief and make Vermont more affordable for retirees and all Vermonters.”

Vermont Business Magazine Weekly unemployment claims fell again and now are approaching the extremely low 200-range. For the week of July 14, 2018, there were 304 claims, 31 fewer than than they were the previous week, and 72 fewer than they were a year ago. Altogether 3,473 new and continuing claims were filed, a decrease of 328 from a week ago, and 449 fewer than a year ago. For most weeks of 2017 and 2018 claims have been below the year before. Vermont is currently in a historically low period of unemployment.

City of Burlington Department of Public Works During last night’s intense storm event – qualifying as a greater than “10 Year Storm” over a 30 minute period - Burlington's Main Wastewater Treatment Plant performed well and all test results so far have been within permitted levels. The plant treated and fully disinfected more than 12 million gallons of stormwater and wastewater last night alone – far more than the average daily flows of 3-4 million gallons. While the plant has historically run without operators during off-hours (though, with operators on call), due to recent equipment and process challenges the plant was staffed throughout last night’s storm.

Vermont Business Magazine The Vermont Agricultural Hall of Fame is pleased to announce the 2018 inductees. Now in its 16th year, the Hall has inducted 75 Vermonters to date. To reflect the evolving face of Vermont agriculture, for the first time this year, the Hall will induct outstanding individuals in three categories: Emerging Leader, Ag Innovator, and Lifetime Achievement.

Vermont Business Magazine More than 10,600 megawatts of solar power were installed last year in the United States, and Burlington, Vermont-based solar project developer and installer Encore Renewable Energy has been recognized again by Solar Power World magazine for its growing contributions to the industry. Encore was recognized as a top 25 solar development company in the US, with a ranking of 23. Additionally, Encore achieved a rank of 123 out of 500 solar companies on the magazine's 2018 Top Solar Contractors list.