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Vermont Business Magazine Last Friday, Vermont This Week revealed its new look and sound, and Vermont’s best journalists will share a new stage, led by veteran host Stewart Ledbetter. Vermont PBS invested in its flagship news digest by taking it on the road, developing an enriched format, and giving it a new, more technical set. Even the theme music has been overhauled by musicians from the Vermont Symphony Orchestra.

“Vermont This Week is must-watch news analysis for engaged politicos and those in the know. As part of our 50th anniversary celebration we invested in our delivery of insightful analysis of trustworthy local news,” said Holly Groschner, President of Vermont PBS. “The new look, constructed by Vermont craftsmen, reflects the brand’s integrity. Let us know how you like it!”

by Mike Smith Governor Phil Scott said in his budget speech that “it’s not bold to spend more than Vermonters can afford, or to experiment with policies our economy cannot sustain.” Often politicians tout new initiatives as bold. And often they come with a hefty price tag. By hewing to a path of fiscal restraint and frugality rather than spending more money on new proposals, Scott is trying to redefine the concept of political courage. He is also deviating from what voters typically hear from politicians in Montpelier.

Phil Scott, State of the State address, January 4, 2018. VBM photo.

Leonone Public Affairs Governor Phil Scott presented his budget address as the legislature entered a fourth week of intense activity. January tends to be the slowest month for the legislature, as committees and lawmakers get up to speed on issues and await the budget proposal from the governor. This has not been the case in 2018 as January has been defined by a flurry of committee activity and floor action. In addition there have been significant moments like the governor’s approval of the legalization of recreational cannabis and the unveiling of a proposal by the Governor to construct a large, 925-bed correctional facility in Franklin County. Already elevated political tensions increased this week as Democrats scrutinized and in some cases criticized the governor’s proposed budget while Republicans praised it.

by Marilyn Cargill VSAC For Vermont students to be prepared for tomorrow’s jobs, all pathways must lead to a credential with labor market value, such as a certificate, associate’s degree or bachelor’s degree. Good jobs that once only required a high school education have mostly disappeared and that trend is likely to continue. The jobs that have taken their place are in fields like health care, information technology, business services – and yes, manufacturing and construction. And, according to Vermont employers all require more than a high school education.

It is estimated that by 2025 almost 70 percent of all new jobs in Vermont will require education and training beyond high school. Students continuing their education is not a luxury, it is a necessity. Four out of five jobs lost during the Great Recession were held by Vermonters with a high school education or less.

Vermont Business Magazine With an eye toward the evolving needs of today's industrial computer users, Logic Supply (www.logicsupply.com) has unveiled the small form factor, fanless ML350 (www.logicsupply.com/ml350). Powered by Intel® Apollo Lake processing, the ML350 is a highly customizable computing platform, purpose-built from board to chassis for applications ranging from digital signage and machine automation, to industrial IoT and edge computing.

Vermont Attorney General TJ Donovan announced a settlement of consumer protection claims against MD Cosmetics Medical Spa and its owner, Erin Jewell. The settlement resolves the Attorney General’s claim that MD Cosmetics engaged in unfair and deceptive conduct by closing in September 2017 without warning and failing to refund its customers’ outstanding gift certificates and unfulfilled pre-paid services.

Dr. Lorraine Sterritt, a national leader in higher education with experience at some of America’s finest institutions, has been named the 17^th president of Saint Michael's College, a residential, liberal arts, Catholic college, located in the Burlington area of Vermont. Dr. Sterritt will be the first woman to hold the position in the College’s history. Dr. Sterritt currently serves as president of Salem Academy and College in Winston-Salem, North Carolina.

by Timothy McQuiston Vermont Business Magazine The raucous ski industry continues to provide skiers across Vermont and across North America with more collective ski pass options, as rivalries intensify. The new owner of Stratton has joined forces with the owner of Killington (Powdr) and others to offer the Ikon Pass. Alterra Mountain Company of Denver announced Thursday that the ski companies have joined together to offer skiers and riders the pass to unite 12 destinations from Alterra Mountain Company and 11 premier destination partners. Alterra, which now owns Stratton and Quebec neighbor Tremblant, was formed on January 11, 2018, by investors which own Aspen (Colorado) and Squaw Valley (California). Still separately managed, Aspen and its resorts will be a partner in the Ikon Pass. In another coup, Alterra also announced that superstar skier and Burke Mountain Academy graduate Mikaela Shiffrin would be both an investor in Alterra and a promoter of the Ikon Pass.

Vermont Business Magazine Upwards of 6 million viewers are expected to watch co-founders of Sap! Beverages of Burlington as they appear on the Sunday episode of this week’s Shark Tank. Sap!, a Vermont based beverage company will appear on ABC’s Shark Tank, January 28 at 10pm EST. The company’s co-founders Chas P Smith and Nikita Salmon filmed the episode last Fall in Los Angeles and navigated the notoriously tough “Tank” and the panel of Sharks consisting of Mark Cuban, Robert Herjavec, Barbara Corcoran, Lori Greiner, and Rohan Oza.

Vermont Business Magazine The Small Business Administration is seeking 20 entrepreneurs throughout Vermont to participate in a free business course starting in April. Emerging Leaders is a free executive-level training program for established business owners poised for growth. Over the course of seven months at Vermont Technical College's Williston campus, each participating entrepreneur will learn immediate ways to improve their business and will create a three-year strategic growth plan to build a sustainable business of size and scale.

Emerging Leaders is for established business owners and is not for start-ups or people who are thinking about starting a business. To be considered, firms must be for-profit enterprises, been in business for at least three years, have at least one full time employee other than self, and have annual revenues between $400,000 and $10 million.

Vermont Business Magazine Few things in life are certain, but in Vermont, one can always count on a delicious pint of freshly brewed beer. Vermont’s breweries lead the nation in quality and quantity. With more breweries per capita than any other state, Vermont’s craft beer industry generates more than $300 million in revenue each year. Celebrating the industry and supporting the growth of sustainable brewery operations, the Department of Environmental Conservation (DEC) will host Brewery Day on February 6th in Montpelier. The event will bring industry professionals together to learn about cost-effective, environmental practices their breweries can adopt. The event is also relevant for meaderies, cideries and distilleries.

Vermont Business Magazine Berkshire Hills Bancorp, Inc. (NYSE: BHLB) reported that fourth quarter pre-tax income grew by 82% to $19.5 million in 2017 compared to $10.7 million in the prior year. This improvement was due to business development and the benefit of mergers, including Worcester-based Commerce Bancshares Corp which was acquired on October 13, 2017. Net income after-tax was impacted by an $18 million non-core charge to income tax expense resulting from federal tax reform enacted near year-end. This reform is expected to benefit future earnings due to a lower statutory federal tax rate beginning in 2018.