Current News

Vermont Business Magazine Norwich, NY-based NBT Bancorp Inc (NASDAQ: NBTB), whose NBT Bank has branches in Vermont, has reported net income and diluted earnings per share for the year ended December 31, 2017. Net income for the year ended December 31, 2017 was $82.2 million, up from $78.4 million for the prior year. Diluted earnings per share for the year ended December 31, 2017 was $1.87, up from $1.80 for the prior year. Net income excluding the $4.4 million estimated one-time, non-cash charge recorded in the provision for income taxes related to the enactment of the Tax Cuts and Jobs Act (“Tax Reform”) was up 10.4% from 2016 to $86.6 million or $1.97 diluted earnings per share. The estimate may be refined in future periods as further information becomes available.

Vermont Business Magazine Attorney Peter B Kunin has been elected managing partner and chief executive officer of the northern New England law firm Downs Rachlin Martin PLLC. He replaces Paul H Ode, Jr, who served as managing partner for the past nine years. Kunin joined DRM in 1992, and was instrumental in founding the firm’s Intellectual Property Practice Group. He has served as deputy managing partner since 2012. He is a graduate of Williams College and the Cornell University Law School. He is the son of former Vermont governor Madeleine Kunin.

“DRM partners have made an excellent choice in electing Peter Kunin to lead the firm,” Ode said.

Ski Vermont Visit the Green Mountains during the month of February and enjoy a month full of Olympic themed events and lodging packages, unique outdoor adventures, romantic mountain nuptials for Valentine’s Day and much more.

Vermont Business Magazine The Windsor Smiles program at Mt Ascutney Hospital and Health Center (MAHHC) has been awarded a $7,734 grant by the Northeast Delta Dental Foundation. Windsor Smiles, a collaboration between MAHHC, the Northeast Delta Dental Foundation, Windsor Elementary School, and Alice Peck Day Hospital, is designed to serve local children who have very limited access to regular dental care.

“Providing children with effective dental health services is a reason for all of us to smile,” said Jill Lord, RN, MS, Director of Community Health and Patient Care Services at MAHHC. “We know that dental health is closely linked to overall physical health and self-esteem for people of all ages, and it’s important to start early. But for some local families, dental insurance is out of reach. The Windsor Smiles program provides children in need with preventive health treatments and, if needed, referrals for follow-up care.”

Vermont Business Magazine Public Works called in a city crew on Sunday, January 21 to repair potholes using approximately two tons of material to improve road conditions throughout the city. Today, crews continued to be very active, including along Plattsburg Avenue, filling in potholes and delaminated segments of road. After tonight’s weather, crews will be addressing road conditions, including along North Avenue.

“There has clearly been significant weather-related deterioration on some important commuter and residential roadways, including Pine, Colchester, North and Plattsburg,” said Chapin Spencer, Director of Public Works. “We will continue sending crews out to fix these streets and help keep our residents as safe as possible on the roads. While tonight’s storm may pause some of this work, our plow crews will be on standby overnight to address any challenges before and during the morning commute.”

Vermont Business Magazine Vermont Senators Patrick Leahy and Bernie Sanders issued the following statement after voting against a three-week continuing resolution. Congress appears ready to pass a short-term funding bill and send it to President Trump. It leaves long-term spending plans and an immigration compromise unresolved. Congressman Peter Welch added that he will vote no when the bill comes to the House.

Vermont Business Magazine Governor Phil Scott has signed H. 511, An act relating to eliminating penalties for possession of limited amounts of marijuana by adults 21 years of age or older, into law. Governor Scott last year vetoed a legalization plan, but was open to a bill that addressed DUI and restricted access to marijuana by children, but putting in stricter consequences. A re-worked bill was finalized last fall and the governor agreed that he would sign it if it was signed off by the Legislature this session. Both the House and Senate approved the revised bill earlier this month.

Leonine Public Affairs A sense of harmony prevailed in the Statehouse this past week, as evidenced by the passage of the the FY18 budget adjustment bill with only one dissenting vote. However, that harmony probably won’t last for long. Governor Scott is scheduled to outline his proposed FY19 budget in an address to a joint assembly of the House and Senate on Tuesday, January 23. The governor's speech will give legislators and Vermonters a better understanding of his priorities for the 2018 legislative session. It will also be an opportunity for legislative leaders to put forward their vision for Vermont and express where their budgetary priorities differ from the governor's.

Vermont Business Magazine The Department of Financial Regulation has signed a contract with Percipient, LLC to de-identify the Personally Identifiable Information (PII) located throughout the estimated 1.5 million pages of Jay Peak records relating to allegations of fraud in the EB-5 program. The de-identification is done in connection with the Expedited Disclosure Plan announced last year by Governor Phil Scott to increase transparency by expediting public disclosure of Jay Peak related records.

by Sue Minter On February 3, I will run through snow and ice with over 1,200 Vermonters to jump into Lake Champlain for the annual Penguin Plunge. This will be my first time taking the Plunge which is the largest annual fundraiser for Special Olympics Vermont--a statewide organization that is part of a global movement dedicated to transforming the lives of people with intellectual disabilities. I will have to summon all my courage to Plunge into the icy water. But I will be warmed knowing that my action will positively impact so many Vermont families.

Vermont Business Magazine With the US government closed for business for the 19th time since 1976, the personal-finance website WalletHub today released its report on the States Most & Least Affected by the 2018 Government Shutdown to add some hard data to all the rhetoric. Vermont is relatively low on the list, ranked 41st (New Hampshire, 40th), especially considering that in a separate study the state is ranked one of the highest ranking (5th) in its overall budget dependent on federal finances. WalletHub compared the 50 states and the District of Columbia in terms of six key metrics, ranging from each state’s share of federal jobs and contracts to the percentage of kids covered by CHIP.

by Attorney General TJ Donovan Governor Scott’s administration has proposed a new 925-bed prison campus at a cost of more than $140 million dollars. Before we move forward with such a significant undertaking, Vermonters should ask some tough questions about whether there is a better way to address the need for correctional facilities in the State of Vermont.