Current News

Construct and Rehabilitate Housing in Brattleboro, South Burlington, Randolph, and Hartford, and to Conserve Land in Orange and Chittenden Counties

Vermont Business Magazine In January, the Vermont Housing & Conservation Board committed $9,359,800 for the construction and rehabilitation of 133 homes and for the conservation of 152 acres of land. The Board awarded $6,795,000 in Housing Revenue Bond funds, $1.45 million in federal HOME Program funding, $478,000 in federal farmland protection funds, and $636,500 in state funding to nine applicants.

Vermont Business Magazine In a bipartisan letter sponsored by Vermont Attorney General TJ Donovan and Utah Attorney General Sean Reyes, and signed by the attorneys general of 34 other States, the National Association of Attorneys General today urged Congress to pass the Clarify Lawful Overseas Use of Data (“CLOUD”) Act. The CLOUD Act would update and amend several provisions of the Stored Communications Act (“SCA”).

Vermont Business Magazine Forbes magazine recently ranked Community Bank NA sixth in the nation for financial performance in a study analyzing 10 key metrics related to growth, asset quality, capital adequacy and profitability for the nation’s 100 largest banks and thrifts. This is the seventh year running that Community Bank N.A. has ranked among the top 15 banks on the list. Community Bank N.A. is the only bank in Vermont to make the list’s top 10. The upstate New York bank acquired Vermont's Merchants Bank in 2017.

Vermont Business Magazine Quimby Country, Inc, announced Tuesday that a Vermont couple has purchased a majority stake in the 125-year-old family resort and sporting camp in Averill. Lilly and Gene Devlin of Cornwall, Vermont, will hold a 51 percent stake in the company that will operate Quimby Country and they will become general managers for the 2018 season. Quimby Country, Inc will retain a 49 percent interest on behalf of its shareholders, most of whom are long-time guests. Financial details of the agreement were not disclosed.

by Timothy McQuiston Vermont Business Magazine A leading fiber optic firm that has been aggressively acquiring other telecoms in the Northeast, including Sovernet in Vermont, itself is being acquired. FirstLight announced today that Antin Infrastructure Partners has entered into a definitive agreement under which it will acquire FirstLight from Oak Hill Capital Partners IV. Basically it's one private equity firm buying FirstLight from another one. Financial terms of the transaction were not disclosed. Antin is based in Paris. Oak Hill is based in Menlo Park, CA. FirstLight is based in Albany. And Sovernet is based in Bellows Falls. Sovernet was re-branded FirstLight last year. Oak Hill had acquired Sovernet in 2016 before merging the two into FirstLight.

Vermont Business Magazine Expertise.com released their list of “Best PR Firms” in Boston for 2018, which includes Vermont headquartered People Making Good PR. Expertise considered 165 firms and chose 19 as best of breed. Firms are evaluated on reputation, credibility, experience, availability, and professionalism. This is the second year that People Making Good PR is listed in the top 20 by Expertise.

“We’re honored to have made this list,” said Nicole Junas Ravlin, partner and co-founder at People Making Good PR. “While our team is split between Boston and Vermont, we work as one serving our clients in the US, Canada, and Europe. This nod from Expertise is a real testament to our team and their commitment to our client partners.”

Vermont Business Magazine The second annual Norwich University Cyber Security Summit will take place on the Norwich University campus June 18-20, 2018. This event will bring together an international cadre of experts in the fields of information security and assurance, business, public administration and more to discuss the latest in federal cyber security policy, and the practical applications of cyber defense on state and local levels.

by Timothy McQuiston Vermont Business Magazine The Vermont Electric Cooperative Board of Directors announced today the resignation of Chief Executive Officer Christine Hallquist and the appointment of VEC General Counsel Vickie Brown as interim CEO. The change will take effect March 2, 2018. Hallquist announced in January that she intended to run for governor as a Democrat in the next election. Hallquist, 61, would become the nation’s first openly transgender, major-party candidate for governor if she were to win the Democratic primary. She has led the Johnson-based company since 2005. Hallquist, who went by David until 2015, lives in Hyde Park. Governor Phil Scott is expected to run for re-election. No Vermont governor has lost re-election since 1962.

by Timothy McQuiston Vermont Business Magazine It appears that Vermont has lost out again on a massive powerline proposal that would have sent upwards of 1,200 megawatts of electricity from Quebec to Massachusetts and brought hundreds of millions of dollars into the state. Vermont appeared to be back in the running for the renewable power project after Eversource Energy's Northern Pass, which would have run through New Hampshire, failed to get a key permit after winning the initial bid. Eversource had been selected as the Massachusetts Department of Energy Resources' winner on January 25. But on February 1, a permit was unanimously rejected by regulators in New Hampshire. But renewed hope appeared dashed this past Friday when the MassDOER said it will enter into negotiations with runner up Avangrid and its Maine-sited transmission line.

Vermont Business Magazine On the heels of the Trump administration's proposed 2019 budget, which would slash support for reproductive health programs, the Population Institute has released its sixth annual report card on reproductive health and rights in the US. The results were alarming, showing declining overall reproductive health and rights and growing disparities between states after a year of Trump policies. For 2017, the overall US grade fell from a "D" to a "D-." 18 states got a failing grade. Vermont received an "A."

Vermont Business Magazine Business owners are taking an increasingly sour view of the Vermont economy, according to a new survey. Over 130 Vermont businesses completed the latest semi-annual economic survey in January regarding the outlook of Vermont’s small- to medium-sized businesses; 71% of those business owners who responded have fewer than 25 employees. The survey, presented by Davis and Hodgdon Associates CPAs and the Vermont Chamber of Commerce, revealed that while business owners share an increased level of optimism about the US economy, they do not have the same enthusiasm for Vermont’s economy.

Finding qualified workers continues to be an ongoing problem, even more so than health insurance costs. And there remains a strong desire to see changes made to Vermont’s tax laws and overall business climate. Meanwhile, changes to the minimum wage was lower down on the list of issues.

Vermont Business Magazine Mt Ascutney Hospital and Health Center (MAHHC) held its annual meeting recently at the Windsor Mansion Inn. Nearly 40 attendees, including trustees and members, gathered to nominate and vote for candidates to join the Board of Trustees and to become new members, who serve as community ambassadors for the hospital. Senior leaders from MAHHC were also in attendance.

The keynote speaker was George T. Blike, MD, MHCDS, Chief Quality and Value Officer, Professor of Anesthesiology at the Geisel School of Medicine at Dartmouth.