Current News

Vermont Business Magazine Representative Peter Welch (D-VT), Senator Bernie Sanders (I-VT) and Representatives Elijah Cummings (D-MD) and Lloyd Doggett (D-TX) on Wednesday introduced legislation to require the federal government to leverage its bulk purchasing power to negotiate lower Medicare drug prices for seniors. Current law prohibits the Secretary of Health and Human Services from negotiating directly with pharmaceutical companies for lower Medicare drug prices.As a result, Medicare pays, on average, 73 percent more than Medicaid and 80 percent more than the Veterans Administration (VA) for brand-name drugs. If Medicare paid the same price for drugs as Medicaid and the VA, the federal government could save between $15.2 billion and $16 billion a year.

Vermont Business Magazine Norwich University officials announced that the university has renewed a five-year agreement to donate funds to its hometown of Northfield to support public services beginning in 2018. This is the third such arrangement between the university and the town. On Friday, June 23, 2017, Norwich University President Richard W. Schneider presented a check for $78,286 to Northfield Police Chief Bill Jennings, Northfield Fire Chief Peter DeMasi and Chief of Ambulance Services Lawton Rutter. The funds were a gift to support public services and includes annual payments as well as university support for procuring certain critical equipment for first responders. The gift was the final installment of a five-year, voluntary arrangement between the university and the town designed to promote excellent “town-gown” relations.

Vermont Business Magazine Hunger Free Vermont has been awarded a $30,000 grant from Newman’s Own Foundation, the independent foundation created by the late actor and philanthropist, Paul Newman. Newman’s Own Foundation made the award for the second year in a row to Hunger Free Vermont as part of a broader commitment to support programs that increase access to fresh food and nutrition education in underserved communities. This funding will help Hunger Free Vermont to offer nutrition education in communities across Vermont—teaching Vermont youth and adults how to shop for and prepare nutritious meals on small budgets, as well as training child care providers so that our youngest children get the crucial nutrition they need for their early childhood development.

​Vermont Business MagazineGovernor Phil Scott, Ag Secretary Anson Tebbetts and other farm to school partners joined students from Fairfield Center School to celebrate Vermont’s robust presence in farm to school at the Sweet Farm in Fletcher.Vermont was the first state in the nation to implement a Farm to School Grant Program and the USDA has modeled their program after it.

AccuWeather reportsAccuWeather predicts above-average warmth to keep heating costs down for consumers across the northeastern United States as they prepare financially for the approaching holiday season. Since September, mild weather has contributed to heating cost savings, and the trend of warmer-than-normal weather is expected to continue through the end of 2017.

"Heating costs for homeowners, from the start of the heating season,Sept. 1to date, are running only about half of what they normally are in the Northeast," said AccuWeather Founder and President Dr. Joel N. Myers.

"And, we are predicting above-normal temperatures to continue for the couple of months, so we anticipate that heating costs will only be three-quarters of what they normally are into November, but we recommend checking AccuWeather.com and our apps to see the specific details for your location," Myers said.

Vermont Business Magazine Nineteen entrepreneurs throughout Vermont completed a seven-month executive education series October 20 at Vermont Technical College in Williston. Emerging Leaders is the only federal training specifically tailored for small business executives poised for growth. The free program includes approximately 100 hours of classroom time, connects small business owners with a network of industry experts and peers, and supports the creation of a three-year strategic growth action plan.

“Emerging Leaders is about the nuts and bolts of operating a business and the big vision of leading a company forward. All of our Emerging Leaders achieved tremendous progress and it has been a real honor to know them,” said Darcy Carter, SBA Vermont District Director. Emerging Leaders is funded by the Small Business Administration.

Vermont Business MagazineVermont and New Hampshire have expensive higher education for homegrown students. The Green Mountain State is the most expensive for two-year, in-state degrees ($6,840inNew Hampshireand$7,980inVermont)and the Granite State is the most expensive for four-year, in-state tuition and fees ($16,040inVermontand$16,070inNew Hampshire). In both cases, its Twin State neighborfinished second. These costs are about $5,000 a year more expensive than the cheapest states for two-year degrees and about $10,000 more for four-year degrees, according to The College Board. And while tuition increases have moderated,grant aid across the country has failed to keep up.

Vermont Business MagazineVesta Bovair, an insurance industry veteran, has joined National Life Group as executive vice president and head of the company’s operations division. Bovair is in charge of National Life’s Customer Innovation Group, which includes processing policies, paying claims and answering agent and client questions, among many other responsibilities, for the company’s life insurance and annuity policy businesses.

Vermont Business MagazinePeople's United Bank, NAa subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), will celebrate its 175thanniversary onDecember 24th. To commence the celebration, the bank today announced a$175,000grant from People's United Community Foundation to Junior AchievementUSA, who will use the fundingfor upcoming regional financial literacy and career-readiness programs for youth across six states that align with the People's United footprint, including: CT, NY, MA, VT, NH, ME. This is the single largest one-time grant gifted by the Foundation to a non-profit organization since launching in 2007.

Vermont Business MagazineA major water quality improvement project near Lake Carmi in Franklin has been talked about for years but now is nearing completion. Recently, the Vermont Agency of Natural Resources (ANR) and the Vermont Agency of Agriculture, Food & Markets (AAFM) announced a series of plans on protecting and restoring the Lake Carmi watershed.One of the projects identified in the roadmap is nearing completion thanks to funding from the Vermont Clean Water Fund. The process has been contentious as the lake was posted against use this summer and fall because of severe algae blooms.

Vermont Business Magazine Daniel A Burack ’55, HON’08, member of the University of Vermont Foundation’s Leadership Council and chair of the UVM Hillel Board, and his wife Carole Burack HON’08 have made a gift of $2.5 million towards a new home for UVM Hillel on campus. Their gift will be directed toward the design, planning and renovation of 439 College Street as a vibrant hub for Jewish life, and will support ongoing and inclusive programming at UVM Hillel.

Vermont Business Magazine Governor Phil Scott joined members of the Northfield community, Norwich University and gold star families on Saturday to break ground on a new monument that will honor those families in Northfield’s Center Park. “We can never do enough to thank the men and women in our military and their families, and for those who pay the ultimate sacrifice, we’ll never be able to repay them,” said Scott. “But, it is my hope, that by honoring them and their families with this monument, we can offer some small solace and a place for reflection and recognition of that sacrifice.”