Current News

Vermont Business Magazine Ariel Quiros is no longer the owner of Jay Peak Resort and all told is liable for nearly $82.5 million resulting from the EB-5 fraud on immigrant investors. The Securities and Exchange Commission today announced that the Miami-based businessman behind an alleged scheme involving investments in the Vermont-based ski resort has agreed to pay back more than $81 million of investor money that he used illegally. According to an SEC complaint filed in 2016 in federal court in Miami, Quiros allegedly misused more than $50 million in investor funds to purchase a different ski resort and to fund personal expenses such as income taxes and two luxury New York City condominium purchases. Investors were told their money would specifically be used for construction projects at the Jay Peak Resort and a nearby proposed biomedical research facility.

Vermont Business Magazine Weekly unemployment claims rose modestly for the first time since December. For the week of January 27, 2018, there were 589 claims, 78 more than than they were the previous week and 14 more than they were a year ago. Altogether 6,200 new and continuing claims were filed, a decrease of 103 from a week ago, and 548 fewer than a year ago. For most weeks of 2017, including the last several months, claims have registered below the year before.

Vermont Business Magazine Governor Phil Scott issued the following statement late last night regarding, what he called, attempts by legislators to deny Vermont’s demographic crisis. The last two calendar years have shown a net gain in the Labor Force after a steep decline from 2009. Vermont suffered a delayed reaction to the Great Recession of 2008-2009. For 61 consecutive months, from December 2011 to January 2016, Vermont did not gain a single worker. In its worst year since the recession, 2012, Vermont's Labor Force lost 3,950 workers. The last two years have been a rollercoaster, but there has been a net gain in both: 2016, 950 workers; 2017, 650.

Vermont Business Magazine Howard Center recently received a $20,000 grant from the Marion E. Kenworthy – Sarah H Swift Foundation for its Intensive Family Based Services Program. The primary goal of the program is to preserve the family unit and to reunify families when placement has occurred. As the only program of its kind in Chittenden County, the Intensive Family Based Services Program is an important part of a countywide effort to keep children out of state custody, foster care, group care, and residential mental health placements. Last year, 112 clients and families received support, and 94% of children served were able to remain in their home following IFBS services.

Vermont Business Magazine Leading a coalition of 11 attorneys general, Vermont Attorney General TJ Donovan opposed the elimination of $3 million in funding for woodstove upgrades from a proposed settlement between the federal government and Harley-Davidson. The Puget Sound Clean Air Agency (WA) joined the attorneys general in the brief.

Vermont Business Magazine Berkshire Bank, with branches in Vermont, announced today that its Foundation awarded a total of $1,995,462 in grants to non-profit organizations operating in the bank’s footprint in 2017. The grants supported a variety of important education and community development initiatives as well as health, human service and cultural programs. In all 556 organizations benefited from the funding.

“Our grants impacted more than 5.8 million individuals in 2017 helping to enhance economic opportunities and improve the quality of life for members of our community,” said Lori Gazzillo, Senior Vice President, Foundation Director. “We believe that by investing in what can be, we can transform possibilities into a brighter reality for the people and places we serve” Gazzillo added.

by Mike Rother As Dealer.com’s General Manager, I can say with confidence that the future of our company is very bright. In 2016, Dealer.com joined the Cox Enterprises and Cox Automotive family of companies, and I believe wholeheartedly that it’s a great fit. Both companies were built on brave, innovative and entrepreneurial spirits. As a fourth-generation private company, Cox has always operated with a high sense of purpose and commitment to advancing local communities. With Dealer.com being the largest location outside the Atlanta headquarters, and with several other local businesses, Cox truly understands, values and supports our impact and connection to the community.

Vermont Business Magazine Jay Peak Resort today announced the creation of the Flake Foundation, a community-oriented initiative focused on supporting local causes and events throughout the Northeast Kingdom. The foundation is also tasked with promoting other civically-focused organizations within Orleans, Essex, Caledonia, and Franklin counties.

Vermont Business Magazine Governor Phil Scott today announced the appointment of Rory Thibault as Washington County state’s attorney. Scott appointed Thibault as the county’s interim state’s attorney earlier this month, filling the vacancy after former State’s Attorney Scott Williams resigned. He brings more than seven years of litigation experience with a practice focused on complex cases, including murder, sexual assault, child exploitation and fraud.

File photo of Rory Thibault being sworn in as interim Washington County state’s attorney by Governor Scott in early January.

“I’m very pleased to make this appointment, as Rory has continued to demonstrate his leadership and commitment to serving his community and seeking justice for Vermonters,” said Governor Scott.

Vermont Business Magazine As the Administration prepares a broad infrastructure plan, 23 million Americans living in rural areas across the country still lack access to high-speed broadband. Senator Patrick Leahy (D-Vt.) joined a letter penned by U.S. Senators Bob Casey (D-Pa.) and Amy Klobuchar (D-Minn) to President Trump urging him to include funding to support broadband deployment in unserved rural areas across the country. Leahy is the Vice Chairman of the Senate Appropriations Committee.

Vermont Business Magazine AM Best Company, the global rating agency for the insurance industry, recently affirmed the Financial Strength Rating of A+ (Superior) for Vermont Mutual Insurance Group, consisting of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc and Granite Mutual Insurance Company.

Vermont Business Magazine Employee-owned and Burlington-based Gardener’s Supply Company has opened its newest garden center in Lebanon, NH. Longacres’ Nursery, an Upper Valley icon for over 40 years, was bought by Gardener's and recently re-fitted.