Current News

Vermont Business Magazine A University of Vermont Extension professor has invented a $300 device that could save Vermont’s produce growers an average of $6,500 annually in improved storage conditions and its artisanal cheese and meat producers up to $10,000 a year in higher yields during processing. The device, called a DewRight, modernizes 200-year old technology to more accurately measure temperature and relative humidity.

Vermont Business Magazine Southern Vermont College has announced the receipt of a gift of $100,000 from award-winning former IBM executive Nicholas M Donofrio to support scholarships for new nursing students entering the BSN (Bachelor of Science in Nursing) program. The scholarship also applies to transfer students entering the BSN program.

Vermont Business Magazine Castleton University and SUNY Adirondack have formed a collaborative agreement creating a pathway for degree completion. The agreement makes the transition for graduates of the upstate New York community college to Castleton seamless and affordable. “We are committed to delivering affordable liberal arts education combined with practical career preparation to a broad range of students,” said President Karen M Scolforo. “This highly collaborative, flexible agreement will provide SUNY Adirondack graduates an opportunity to continue on to further their education seamlessly and affordably.”

by Timothy McQuiston Vermont Business Magazine United States District Court Judge Darrin Gayles in Miami today signed off on releasing the assets of Ariel Quiros for the purpose of paying off more than $81 million to settle claims in the Jay Peak EB-5 fraud case. The assets include both the Jay Peak and Burke Mountain resorts, several properties in the Northeast Kingdom, and, among other bank accounts and assets, two condos in Manhattan, one on 5th Avenue and the other at Trump Place.

Vermont Business Magazine Brattleboro Memorial Hospital (BMH) has agreed to a civil settlement with the Federal government, the State of Vermont, and a former employee in which it has agreed to pay $1,655,000 to resolve allegations that it violated the federal False Claims Act with regard to coding of claims submitted for certain laboratory tests performed between January 2012 and September 2014. Specifically, that, in some instances, the clinicians’ orders for laboratory tests did not appear to adequately document the diagnosis code included on the billing claim form as required.

Vermont Business Magazine Always wanted to live in Vermont? Here’s your chance to move to the Green Mountains—and live in a free, super-efficient smart home! Green Mountain Power (GMP), Naylor & Breen Builders, the United Way of Rutland County, NBF Architects and Rutland Mayor Dave Allaire kicked off GMP’s Rutland Innovation Home Contest today, a national contest that will award one lucky family or individual a brand new, fossil-free home in the heart of Central Vermont.

This home at 60 Cleveland Avenue in Rutland was torn down today and will be replaced with an energy efficient home courtesy of GMP and partners. Pictured, GMP CEO Mary Powell offers opening remarks. GMP photos.

Vermont Business Magazine Seven Days, Vermont’s free, independent newsweekly, won 14 first-place awards in this year’s New England Better Newspaper Competition, including top honors for its reporting and writing, website, headline writing, design and presentation, and video journalism. The paper also won nine second-place awards and four third-place awards — 27 total. The contest is organized by the New England Newspaper & Press Association. Winners were announced at NENPA’s annual convention Saturday night in Boston.

by Chris Miller Forty years ago, Ben Cohen and Jerry Greenfield turned an old gas station into the birthplace of Vermont’s Finest. While it wasn’t part of a conscious strategy to reduce Burlington’s consumption of fossil fuels, there is something a bit satisfying that Ben & Jerry turned a place that pumped gasoline into cars into a place that pumped hot fudge onto ice cream.

Vermont Business Magazine Ledyard Financial Group, Inc (ticker symbol LFGP), the holding company for Ledyard National Bank with an office in Vermont, has reported earnings for 2017 of $3,845,238, a 6.9% decrease over the prior year. As a result of the Tax Cuts and Jobs Act of 2017 that was enacted into law on December 22, 2017, the Company revalued its net deferred tax asset position to reflect the reduction in its federal corporate tax rate from 34% to 21%. This revaluation resulted in an increase to income tax expense of approximately $503,800. Pre-tax income for 2017 was $5,208,013 or a 1.4% improvement over the prior year. This improvement was due to strong equity markets, robust new business activity at Ledyard Financial Advisors, and an improvement in net interest margin.

Vermont Business Magazine The Vermont Community Loan Fund is now accepting applications for Building Bright Spaces for Bright Futures (BBSFBF) 2018 grants. The fund was created in 2002 by the Vermont legislature to increase the quantity and quality of child care and early education programs in Vermont. Since 2006, the fund has awarded over $1.3 million, to 124 Vermont child care programs, benefitting over 3,700 children and their families.

Administered by the Vermont Community Loan Fund (VCLF), the BBSFBF program is funded with revenue generated from the sale of specialty child care license plates, contributions from the general public and monies provided by the State of Vermont Child Development Division.

The BBSFBF Fund links Vermont families to services, resources and information, with an emphasis on providing access to high quality early childhood programs.

by Tom Sullivan, President, University of Vermont Dear Members of the University of Vermont Community: Recent events on campus have focused our attention on important and pressing issues: racial equality, diversity, and justice. Any great university embraces open, critical discourse. As we discover and learn from each other, we often find ourselves engaged in vigorous debate and heartfelt disagreement. The process is often messy. It is important that we never lose sight of the core elements that make UVM a vibrant intellectual community of which we all can be proud: diverse perspectives, meaningful dialogue, mutual respect, and civility. These are fundamentals that should guide all of our actions as we move forward as a community.

Vermont Business Magazine The Miro For Mayor Campaign Finance Statement was submitted on February 24, 2018, for Burlington Mayor Miro Weinberger’s re-election campaign. See report below. Total donations are $107,000 and total expenditures to date are $78,000.